Get ready, America: Great Depression 2.0

I have posted reference to this M3 money supply growth data before, but I will post it again for reference:

http://www.nowandfutures.com/key_stats.html

Look at the year on year rate of change. It is about to go negative. This is in spite of a doubling of the monetary base since the Federal Reserve Bank began responding to this panic over a year ago. If this isn't pushing on a string, I don't know what is. The Fed has the pedal to the metal, and the engine only sputters. Banks, instead of looking for credit worthy borrowers to help them expand the money supply, tighten credit standards and slash credit card limits (or outright close accounts) for a considerable number of customers who regularly pay on time.

And in addition to the Fed panic injection of reserves into the banking system, you have the huge stimulus package pushing the US government debt levels up at unprecedented rates to astronomical new heights.

And with all that, unemployment continues to rise (real rate near 20%); the FDIC is cleaned out from bank failures; the housing market is poised for a second tsunami as the "high quality" home loans move into a three year period of increasing resets.

At least Obama is doing his share to stimulate the economy by personally consuming $500 per bottle wine, $100 per pound steak imported from Japan, and having live lobster flown out to Idaho on a government jet for him to dine on while out pushing his takeover of health care by the federal government, all at taxpayer expense.

I think the assessment of depression is quite accurate, especially when you look at the pressure the economy is under from the dawn of the age of very expensive energy.

I think your estimate of being a year away from a complete collapse is very accurate, and the pain from that collapse will drive us even closer to revolution.

of our lifestyle could come swiftly and many may be caught with their pants down.

Those of you who have taken the necessary steps are just hedging your bets just like a good stock trader.

There are many situations worldwide currently that could escalate and cause a panic to the public. Middle East war expansion... another major terrorist attack in America or Europe. My wife thought I was nuts until she watched a 2 hour
History channel program giving details of the missing enriched uranium materials from the former Soviet Union. Who really knows the time table of such an event, but they made it clear it will happen. Sounds like the Jihadists want 4 million of us dead... eye for an eye thing.

The department of home land security has a plan in place should key cities be destroyed and it won't be a nice world to live for a time.

The hornets nest has been stirred, who's fault is it?? does it matter..
The damage is done. Every man for himself/ be prepared just in case.

Average Unemployment Period Hits All Time Record High Of 6 Months
Tyler Durden's picture
by Tyler Durden on 10/22/2009 12:21 -0500
(see graph)
The length of time the average unemployed has been without a job has just passed an all time record 26 weeks. This is the longest time average unemployed American has been jobless since this data series has been recorded. In other news, as this data point is obviously unspinnable positively for general consumption, expect the dollar to shortly hit zero, as the stock market approaches to reach infinity.

http://www.zerohedge.com/article/average-unemployment-period...

still good to hear others talking about it finally. I noticed a pretty neat solar powered battery back up ad on that page. Looked expensive for what you get, but curious if anybody here has anything like that. I'm thinking of getting a permanent exterior generator that runs on my existing natural gas tank... anybody have thoughts or recommendations? TIA.

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We don't know how to mind our own business
'Cause the whole worlds got to be just like us
Now we are fighting a war over there
No matter who's the winner
We can't pay the cost
'Cause there's a monster on the loose