It is being dubbed as the Great Depression 2 and all fingers are pointing toward Wall Street as the ultimate culprit of our impending total meltdown.
Former IMF chief economist, Simon Johnson said, the “financial industry has effectively captured our government and is blocking essential reform.”
He adds that if we cannot break its suffocating grip on Washington, we will not be able to stop the Great Depression 2.
Johnson is not alone in his prediction. Phrases like; "capitalism-without-morals” are being recited by other economic guru’s who are frustrated by what they see as imminent. Columbia University Professor and Nobel Prize economist, Joseph Stiglitz, is among them. Stiglitz said, "the financial sector will only try to circumvent whatever new regulations we put in place. We will simply have a short respite before the next crisis."
What we are experiencing now is only a small taste of what is on the horizon, and it is only the arrogance of the American attitude that prevents so many from seeing it. The United States is not above the greater cycle of history. Powerful empires have fallen in the past: the former Soviet Union for one. It is the destruction of wealth at its worst, driven by corruption and greed. The quintessential get rich quick scheme fueled by the ever-growing virus of debt is destined to over take us.
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Prepare for the Great Depression.
Survival Seeds
We are in one now, you have to be blind to not notice, joblessness will increase, bankruptcies increase, foreclosures increase, dollar collapsing, only the ultra rich are doing well, the other 99% are struggling.
ReplyDeleteSorry, but I don't see it. I'm making money again in all my investments. My business is doing very well. I've just taken on 50 more employees in China. Profits are on the up and the markets will continue to rise.
ReplyDeleteI am expecting am immediate collaspe of our economic system within 3 months. Our goverment will act hastely to do an emergency surgery of our federal banking system as we know it. With great regret, I must informed each member of the family (the sheeples of America) that the patient die on the operating table. The doctorsm nurses and operating room attendants did all they could, but the patient (central bank) could no longer withstand the ups and downs. The Fed was born in 1913 and died on March 21, 2010. The patient leave to mourn 300 millions relatives and 12-15 millions parasites (illegal aliens). The patient will lie in state for viewing for the next 10 years as default relatives will try and put back their lives after being lied to for the last 97 years.
ReplyDelete10:35, how exactly will decisions like yours, to hire 50 more employees in China, lift the American economy out of recession/depression? Sounds to me like you're one of the many deluded culprits responsible for what's about to happen to the US; falsely equating your own maximization of profit and ability to hire in foreign countries with a healthy economy. I'll bet most of your profits are based on stimulus/'quantitative easing'/printing money, or consumabots going into debt to buy things they don't need, not exactly a sustainable basis for a healthy economy.
ReplyDelete10:35, you don't see it because you're not experiencing it. My husband and I are middle class and almost debt-free, yet our standard of living has decreased through no fault of our own due to a job change and decreased hours. With unemployment expected to be up for the next ten years, millions like us are already planning a different lifestyle for the foreseeable future. Add to that a decreasing value of the currency, most foreclosures not even showing up on banks' books yet, increased taxation and inflation on the way, and what's remaining only alive through life support - oh yeah, I can see it coming.
ReplyDeleteyeah yeah coming depression, depression 2 likely, looming collapse, impending meltdown since 2008 and i still make tons and tons of money
ReplyDeleteThe reason so many people believe that things are OK is that it is in our DNA to believe and worship authority; that authority can be in the form of government, religion, TV, whatever. Most set rationality aside in favor of following the herd.
ReplyDeleteWe judge our sanity buy asking others approval and opinion.
Truth is never that narrow.
A person that is capable of independent thought and reason can only come to one conclusion. Our fake economy is near death. The Fourth Reich, although lashing out in fury in every direction, is dying.
if i was 10:35 i would get a big security force . when the shit hits the fan the have nots are going after the haves good luck 10:35
ReplyDeleteThose that keep wasting their time arguing with the narcissistic fools who keep posting that they are doing well and don't see anything wrong happening, ask yourself why these supposedly "rich" guys are coming to this website. Why would someone who is prosperous and doing well come here? Wouldn't they be out in their limo going to a ritzy place or snorting coke at a nightclub with their entourage?
ReplyDeleteAsk yourself: Does this make common sense?
3:32, don't waste your time; your words are lost on the trolls visiting this page.
ReplyDeletein debt we trust...
ReplyDelete10:35
ReplyDeleteIf you tell us your business is growing rapidly because you are a firearms or ammo manufacturer, I'd believe it. All the gun shops in my area are very busy these days. Most of the time, the ammo case at WalMart is nearly empty.
The car lots around me are packed with inventory and no buyers. Not only do you need gold plated credit, the banks are sitting on the bail out money they got from us, even though they were told to use it to make loans.
ReplyDeleteThere is a really nice industrial park near me. It was built early last year. I would say 10% of the units are occupied.
In Downtown Anaheim, California, there are several brand new condo towers that were finished about 2 years ago. Most of the units sit empty.
An older industrial park near Angels Stadium was leveled years ago to make way for new housing. The first phase was built and sits with most of the units unsold. The developer asked for a 5-year delay on any new construction. All that vacant land would make a wonderful farm.
One of my elderly neighbors told me that he is officially broke;
- No Social Security income
- No income from his years selling industrial products like heat exchangers. No industry means no sales for him.
- He has one Credit Card with $200.00 left.
I baked some bread yesterday and gave him a loaf. It may have been his dinner.
I haven't checked, but I'll bet Mason jars are getting hard to find. I plan to can as much as my little garden can produce. I also built a solar dehydrator. I can buy veggies now, while they are still available and dehydrate them for future use.
I really pity the recent college grads with their hard earned degrees and a mountain of student loan debt and no prospects for a decent job. I've seen job posts for MBA's for $12.00 a hour... sad...really sad.
What's funny is you can goto the articles on this website that go back to 2008,
ReplyDeleteand what you will find is day after day month after month the same gloom and doom and horror you see now. To be honest this site to me has becAme a bit comical becuase I see now it's just a fear monger zone lol. Wouldn't it be better however to try and post some good ?news? It's out there but you have to be looking for it. This is the neckter zone for horror lol
It is possible that 10:35 is a zit face kid still living with his parents. The only thing he left out is that his house is going up in value.
ReplyDeleteFunny, my business has decreased by 50+% in the past year, and I sell nationwide.
ReplyDeleteAgain, my message to "spooks" or"disinfo" Agents on this site:
Deposit lots of money in your bank/saving account and buy CD's.
Max out your credit cards.
Keep all your valuables in your bank safety deposit box.
Do NOT buy gold or silver.
Do NOT store any food or water.
Do NOT, FOR SURE, buy any guns or ammo.
And for those of us living in reality, you know what to do....
7:51
ReplyDeleteShow us some good news. lol
7:56
ReplyDeletethe good news is this: A recession is healthy when it corrects a fabricated economy and those jobs that are lost are gone, they shouldn't have been here to begin with. Wallstreet created a real fiasco and it was a great ride with cheap money; anyone caught up in that bubble got hurt bad. If you are a serious investor or business man, you know the drill. It follows that old saying " I didn't fail, I just found 10,000 ways that didn't work.". Certain line extentions in our economy have fell through the floor. That's fine if your well diversified in your investments. If your not you got hurt and are feeling it really hard in reality right now. The "bright side" to all of this is the challenge for the American people, and a moment of reckoning for those who followed wallstreet into the abyss of legalized theft of the world. The hardest fallout for the common people is the brand or credibility of our nation in the eyes of the other nations. We as a nation of people must rise up to difficult times and realize this is a correction in the market placebof America and it's healthy in order to get on with the real prosperity and opportunities that lay ahead. You didn't fail, you just found 10,000 ways that dent work, so now go out there and overcome all these new challenges, that's what I am doing and I am doing fine. I get a kick out of this website :)
751 not 756
ReplyDelete8:31 your run-on sentences and odd grammatical errors/syntax prevent me from taking your opinion or comment seriously.
ReplyDelete8:40
ReplyDeleteI am not an editor and never claimed to be. I am not broke neither and to me the point to all this is simple. Keep in mind this place sells seed for food not merigold flowers for courage. Can you take that thought serious or will you penelize me if I missspell a word? My craft has never been on how well I perfect my grammer, rather how much money I put in my pocket honestly. Sorry your correct grammer is costing you from seeing the truth. Didn't your correct grammer also protect you from the fallout as my incorrect grammer saved me from it? - touché
8:40, your haven't proven anything, and you don't even know who any of us posting here are. Your initial comment did not make sense to me. I read it several times, it just didn't make sense. It was contradictory from beginning to end. You don't need to be an editor to write clearly or get your ideas clearly across.
ReplyDelete8:58, have you read the next article? Good luck to you and your business if the Chinese decide to take it over since it's so "successful," because they have a right to eminent domain in the U.S. now. This is part of how we're paying our unprecedented national debt, which China is the largest holder of.
ReplyDeleteOur Walmart was just remodeled. The southwest corner of the store (about 20 aisles, and three walls of shelving) is completely full of plastic storage containers in all shapes and sizes. Some of these containers are huge. Why would Walmart set aside an entire corner of the store for storage containers? Most of the people we know think that the recession is over and the good times are about to roll again.
ReplyDeleteWho is buying all of these containers?
Things that make ya go hmmmm.
9:03
ReplyDeleteI'm just going to pick up my marbles and play somewhere else. Your much too
etiquette in despair for me.
3.07 You hit in dead on .OUr natural inclination to believe in authority that there interest is ours.it clearly is not and we are being sucked down the garden path to oblivion by a corrupt amoral ruling authority..Hold on shits coming soon for us all.
ReplyDelete9:47 What exactly does "your much too etiquette in despair" mean? Are you from another country?
ReplyDeleteMy God, Americans who cannot even speak their own language correctly.
9.47 You makin fun of use Americans.
ReplyDelete