Wednesday, October 27, 2010

We are Going Into A Very, Very Deep Depression

Charlie McGrath of Wide Awake News warns that things are going to change after the election - for the worse. While the movement across America to stop an out of control Congress in its tracks will likely lead to Republican victories and control of at least the House, the idea that this will somehow change the economic outlook for the better is conjecture. While our regular readers already understand we’re in a depression, most Americans have no clue of the severity of the problem. According to McGrath, they will know very very soon.
Look at what’s going on around the world. We have riots in Greece, riots in France, we have massive job cuts in England [which are] probably going to lead to social unrest there. It is our time to have austerity flung upon us. That’s what this election is going to be used for.
A week from now when Republicans control the house, maybe the Senate, it really doesn’t matter. Everything’s going to come to a grinding halt. Every talk of extending unemployment benefits is going to come to a grinding halt and austerity is going to be implemented on the American people. Like it or not, it’s coming.

This is the plan. We’re going to know that we are in a great depression, very very soon.

There’s going to be a lot of people in your life, maybe even yourself, who are facing these difficult, tough decisions when it comes to how to make ends meet…
…The fact is, economic hard times [are] coming your way - like it or not. You have to change your mindset. You have to wrap your head around the fact that it might be your only option to strategically default on your house. It might be your only option to go ahead and file bankruptcy.
When austerity becomes vogue in this country, it’s going to hit like an eight pound sledgehammer and a lot of people are not going to be able to take it.
…They would have no problem whatsoever walking away from you and letting you wither and die on the vine. You can not have a heart for these people. You need to have a heart for your family. You need to make strategic decisions that benefit yourself and your family. The crime of shifting their debt on to you is complete. It’s time for you to look out for you and your own.
More Here..

Bill Gross Calls Fed "Most Brazen" Of All Ponzi Schemes, Says 30 Year Bond Market Is Ending, Compares US Economy To Black Hole..Link HERE


  1. Cat is already out of the bag. How about talking about solutions instead of predicting the obvious. At least it is obvious to many that are already reading this blog.

  2. Mindset is 50% of survival not just food, ammo, med stock squirreled away.

    A will to go on...To work and to actually sleep even if things go bad.

    So many people will be caught off guard and stressed out...Too much stress and you're useless...Time to prepare mentally like the author says...Yoga, religion, stocism, masturbation whatever just have a stress releaser because otherwise too man people will be on the edge.

    I survived the Peso Crash and lived it for a lil while...But people held their mud...I don't see that here in the US...There was no looting and widespread panic in Mexico like I see here...Sadly enough the military/national guard will have to be called out quick...Or the barrios/ghettos will burn and then the people there will spread out as refugees with no place to go and no one left to help.

    So many variations, possible emergencies, possible mishaps and tragedies...All you can do is take care of family and friends and duck down till the panic subsides.

  3. 11:23 there are no solutions. Will you be explaining to the government that they are doing the wrong things? Here is how you do it? No, prepare for the worst and hope for the best.

  4. There will be a good amount of suicides when this comes. The Great Depression experienced on the first day, Black Thursday, 4,000 suicides from people who lost all their money or couldn't swallow what happened. Throughout that period 20,000 more ended up taking their own lives.

    Today it is likely that number will be way higher, and I'm talking astronomically higher. I had a lady even tell me that when she can no longer get her medication from the doctor, which consists of a bunch of addictive pain pills, she'll ust kill herself. She's not even in pain she's just addicted.

    There are tons of people just like that who have doctors that are nothing more than legal drug dealers.

    Teenagers or 20 somethings who have never had to do anything in life except sit on the internet watching youtube videos... how many of them will be able to get motivated and become Spartan? Little food, little water, no games, no beer, no texting... a portion of them won't handle the very idea of it.

    As for obese, fast food addicted people, their bodies will be thrown into a horrible upheaval when they are craving the substances they've made their bodies reliant on for the last several years. Some people think being fat will mean you have extra weight to keep from getting hungry. Yes, that's how poorly educated we are. Being fat just means you'll be more hungry and will either get with the program or go out into a rioting crowd to find burgers. There is absolutely no benefit in being fat. The t.v tries to tell women it's okay to be fat. "Men like big women, you're a lot of woman", "be proud of who you are"... yeah that kind of rubbish.

    As for the rest of the people probably in the center, with only some habits attached to them they should be okay. They should survive the initial mental shock while the above are freaking out to the point of death. A small minority of people who have been detoxing from everything, learning self control, courage, etc. will obviously be forming communities with such the remaining masses in their areas.

    True mental preparation is more important than silver, food, water, and ammo.

  5. Who is Charlie? If I listened to every Tom, Dick and Harry worry about how this is bad or that is bad, then I would probably jump off a cliff too.

    Here is the truth.

    Companies have record cash amounts on hand.
    Companies have great (record) earnings.
    Companies continue to innovate unreal technology.
    We live in the greatest time ever to be alive.

    If you can't see that this is the best opportunity ever to buy stocks and a home, you are out of your mind.

    In 20 years from now, home prices will be higher and stock prices will be higher (almost guaranteed).

  6. 1:14 might be one of the suicide people that 12:17 is talking about. Probably not a person to listen to for financial advice or any other advice for that matter.

  7. 1:14 believes he lives on Mars with outer space aliens as he looks out his window on the 7th floor of his local hospital.

  8. 1:17, you're pathetic and totally nuts. Go jump off the 7th floor of that mental hospital you're in!

  9. LOL @ 1:14PM

    Companies have record cash amounts on hand.
    Selling long term bonds for cash, lots of debt comes along with the cash

    Companies have great (record) earnings.
    So did Enron, MCIC. Its called creative financing.

    Companies continue to innovate unreal technology.
    They sure are every major companies R&D is now mostly in China.

    We live in the greatest time ever to be alive.

  10. yeah people are still using credit, and the cash is there if you ignore liabilities and much of it came from asset/equipment sales, so what's left to sell..LOL we got here how? have things changed in the structure of this economy? for the better? haha
    black hole.

  11. I am not from US and never been there.I am working in EU.I think it is normal what is go on with EU and US.They work force ask more money then asian work force.So EU and US workers must ask for less money in order to fit into job marekt.Also they borrow a lot of money that they have to pay beack.I think soon we will see liivng standarts both in US and EU going down and also taxes rise cose they have to service debt that they borrow.It is just fine.Why EU and US workers must get more money then asians or latinos workers.I think here and there will be no mid class soon cose is no need for that any longer.So it is all fine in other countrys we already know that for long time we do not borrow money and we ask for less pay and things are can learn that too!

  12. Any readers of my past anonymous comments here , will know that I regularly refer to the US economy as an imploded “Great Ponzi economy” operating under the Dollar hegemony system in world trade and finance -to some this may have been seen as hyperbole- not economic analysis
    Dead dollar Dead ponzi!
    The most economicaly corrupt financial system in the world!!

    But now one of the great "respectable" and biggest of the bond speculators and money managers ( that has made a lot of money on apparently inside info from the Fed at ordinary Americans expense ?) is now on record admitting too, that the jig is up on the Ponzi US , the dollar value and the bailout system and the two party same -same political system is stuck in deep doo doo.

    “Bill Gross Calls Fed "Most Brazen" Of All Ponzi Schemes, Says 30 Year Bond Market Is Ending, Compares US Economy To Black Hole

    This Bill Gross article above is a must read!

    Dead Ponzi and dead dollar!
    He promises his investers that he can save them from the coming American turkey shoot.

    Have faith in the dollar or get gold!

  13. austerity coming, QE stimulus to buy own bonds same time, tax cuts expire and raises eventually some federal and state/local and some "fee's" also, infastructure sales/leases privitizations yeah, similar to arizona and GB and piigs, IMF will step in to help..LOL


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