15 votes

We Are Soooooo-uh... Cooked.

from internationalman.com

"When we broke the link between money and gold,
this removed all constraints on credit creation.
This explosion of credit created the world we live in,
but it now seems that credit cannot expand
any further because the private sector is incapable
of repaying the debt it has already, and if credit
begins to contract, there's a very real danger that
we will collapse into a new Great Depression."
~ Richard Duncan



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A little good news. Figures show that the private sector is

slowly getting its debt under control. People are paying off their credit cards and those who can are paying down their mortgages. People are starting to act responsibly.

But government is adding debt like its going out of style, many multiple of consumer debt completely negating the positive aspects of reduced consumer debt.

http://www.latimes.com/business/money/la-fi-mo-consumer-debt...

True, but for how long?!?

This is exactly the issue that is causing the decline in an artificially inflated economy.

It is held up on debt and if at any point that debt fails to increase or is simply paid off then the bubble will burst, the emperor will realize he has no clothes, and the entire economic system which has been running in midair like a Looney Tunes character, will fall...and fall far.

Even though the gov't is indeed still adding to the pile, it will only last for so long until the taxes will not be enough to sustain growth. Austerity will happen, same result.

We ARE cooked.

The real question is what will the world look like after Tyler Durden pushes the reset button.

"Liberty's too precious a thing to be buried in books...Men should hold it up in front of them every single day of their lives and say: 'I'm free to think and to speak. My ancestors couldn't. I can. And my children will."

-Jimmy Stewart

Wouldn't it Be Nice

Wouldn't it be nice to get our nation back from the bankers? I think those behind the monetary policy and inhumane, almost genocide like foreign policies, need to be eliminated. I mean held accountable for their crimes, and the death penalty is in order for the ones leading the foreign policy.

Still the nation seems complacent that 40,000 civilians were ordered killed by bombs in Libya. All done so that the central bankers would have their mitts on the trillions in oil there.

The world is waking up, the criminals reign will end and justice will be done. I am almost excited that it seems to be culminating. Stopping SOPA and PIPA insures that the truth can still be spread. With the fall in current television ratings, opportunity abounds for new news sources that are not owned and controlled by what has ammassed into the largest and most powerful criminal cartel in the world's history.

The S has already HTF

and continues to hit the fan daily, but it will only start to stink once most people realize this is true. Society could never pay off its debts after the first loan with interest was originated under the pure fiat regime. But, the longer this realization (that most of the money out there isn't real) gets postponed, the more mess that we'll all have to clean up. The world is in a bubble.

It'll be funny to watch it pop, in a Coen bros. movie sort of way, where you smile because there's a leg sticking out of a wood chipper.