Monday, August 22, 2011

Bad News

The Economic Collapse

The bad news about the economy just keeps rolling in. If this is an economic recovery, what in the world is the next "recession" going to look like? Today there was another huge truckload of bad economic news. The stock market had another 400 point "correction", applications for unemployment benefits are up again, inflation is higher than expected, home sales have dropped again and Europe is coming apart at the seams. The financial markets have been in such a state of chaos recently that days like today don't even seem "unusual" anymore. But we should all be alarmed at what is happening ........

So now we have high unemployment and high inflation. Oh goody! All of this stagflation is almost enough to make one nostalgic for the 1970s. The housing market is getting even worse. According to the National Association of Realtors, sales of previously owned homes dropped 3.5 percent during July. That was the third decline in the last four months. Sales of previously owned homes are even lagging behind last year's pathetic pace. Mortgage rates are now the lowest they have been since the 1950s, but there are very few interested buyers in the marketplace.........

Yet a cancer-stricken lady tries to hold a few yard sales to pay her bills and authorities come down on her like a ton of bricks. Does that seem fair to you? Our world is getting crazier every day. The bad news is going to keep pouring in. Global financial markets are being held together with chicken wire and duct tape. At some point the pyramid of corruption and con games is going to come crashing down. If you still have faith in the system, you are not very wise. We are heading for an economic collapse that will be absolutely unprecedented, and you need to be getting prepared.

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