"...To put it bluntly, Faber says, 'we are doomed'...
Faber, a long-time critic of U.S. policies, argues the private sector acted rationally after 2008 by deleveraging and increasing its savings. The government, on the other hand, added more debt and leverage. They can get away with it for now because interest rates are low. Eventually, interest rates will rise, causing the public sector debt bubble to burst under the weight of government entitlement programs like Medicare, Medicaid and Social Security...
The only way out is for the government to print more dollars. Of course, that leads to inflation and a weak dollar. And, even worse, he says, 'to distract the attention of ordinary people you go to war'... "
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How about government/state jobs? How will these continue to be funded when tax revenues are diminishing?
ReplyDeleteIn California, Schwarzennegger is trying to force pay cuts once the furloughs end in summer; however, is he is unsuccessful against the unions again, he will be forced to do lay-offs.
It is all unsustainable.
California is like the feds without the printing press.
ReplyDeleteConsumer leverage has sealed the eventual outcome and after those bs GDP numbers for 2009 Q4 and 2010 Q1 we will be officially heading down again and into a double dip by the end of the year and an official depression soon afterwards. We will be in bad shape until at least 2020.
I don't know what all the fuss is about. Here in the Midwest, things move along as normal and not even hardly a hint of tough times. I was in a larger city Saturday and the malls were all PACKED, and lines to eat out at most places, 30 minute wait. This is not uncommon any time of the year.....hard for me to see what all the doomsday predicitons are about.
ReplyDelete10:49 You're an Obama administration troll. Admit it.
ReplyDeleteSome areas are doing worse than other areas, just as some industries are doing better and some worse. The troll probably just lives in an area with industries that are not too affected by the recession. It won't take every area - the California government alone is enough to set off a chain reaction collapse all over the country. The troll is thinking like a one year old things: "If I don't see it, it doesn't exist. The world is my immediate surroundings and exists for my gratification."
ReplyDeleteI am a State Worker in Cali...And to tell you the truth...I'm spooked, semi-prepared but looking foward to it...Fear and hesitation is what's killing the country.
ReplyDeleteIf we're ment to go through rough times lets just f*cking do it...With every day we push it back it'll only get worse PLUS HONESTLY I hate state workers too...Never met so many lazy, overpaid, underused people...I try to earn my keep most people at work hide from their duties...I was shocked at the work ethic...If most state workers suffer trust me it's because they neither cared enough to prep or were to lazy to.
"May you live in interesting times."-Chinese curse...Baby we are living on the edge of an abyss and most people are not even aware how fragile our system is.
Tell a few...Try to warn NOT preach...Even keep a lil extra for the needy...But in the end some will rise and survive most will just lay down...Wish I was about 5-10 years younger...I figure this crap will last about 10-15 years without a major tech breakthrough in energy.
We are living in a part of economic history that has happened many times but NEVER to this magnitude...It truely is a frightening yet amazing thing...It will make an honest man lie and a good man steal...I'm spooked but man this is better than anything I've ever seen.
Wars, rumours of wars, pestilence, weird ass viruses, economic collapses, food shortages, incredible destructive tidal waves, floods, earthquakes, storms etc etc all while CEOs throw orgy parties and have SOLID GOLD TOILETS...While a semi tower of Babel gets built in Dubai with non-existant money...Man these are truely amazing times.
Of course all troll observations and arguments are all based on nothing that can be verified. "The store was packed." Well BFD.
ReplyDeleteI went to the giant Apple store at the mall yesterday and it is usually shoulder to shoulder. I had three salesman helping me. There were three other shoppers.
That is a TALE. Just a story. Nothing wrong with a story, but I'd rather judge the situation based on my own observations and verifiable facts.
The FACTS back up Mark Faber's conclusions. We are doomed.
The Oligarchs see us as a rusty bent hammer laying on the ground. Whether they let us rust away into dust or pick us up and use as in the stooges we are to fight in a WW3 meat grinder remains to be seen.
ReplyDeleteIf the later, there will be plenty of jobs. Holding a rifle and shooting at innocent brown people. Framing another hapless country for some bogus attack is no problem for them.
The monkey wrench right now is a staged conflict with Iran, Pakistan, or worse - China/Taiwan, etc.
We didn't go through all that trouble setting up the occupation in Iraq not to use it as a spring board.
The military draft is coming. Full on war. I am 75% sure of that only because Americans have proven that they can be tricked into believing anything. Every car window shall have the appropriate flag.
The question will be how will that effect us economically? For WWII and the recovery, we were still a producing, healthy economy.
How does a fake economy like ours do? Do we pile on trillions more debt to the bankers to fight a staged war?
I see our economy and standard of living completely dead in two years. Can our Empire's military and invasions march forward on debt? Is that the only thing we can produce anymore, death?
I ponder such things.
We look at the facts, the evidence, past trends and form a hypothesis as to what will happen in the future. We are usually dead wrong because we neglect to include the wild card in our data. Hard to know what it will be or manifest as, as that is very nature of a wild card. Faber and others like him know this yet refuse to admit the vast uncertainty of their predictions.
ReplyDelete"Counting Bodies Like Sheep To The Rhythm Of The War Drums" by A Perfect Circle;
ReplyDeleteDon't fret precious I'm here, step away from the window
Go back to sleep
Safe from pain and truth and choice and other poison devils,
See, they don't give a fuck about you, like I do.
Count the bodies like sheep
Count the bodies like sheep
Counting bodies like sheep
To the rhythm of the war drums
Count the bodies like sheep
Go back to sleep
Go back to sleep
Counting bodies like sheep
To the rhythm of the war drums
Go back to sleep
Go back to sleep
Counting bodies like sheep
To the rhythm of the war drums
Go back to sleep
Go back to sleep
Counting bodies like sheep
Go back to sleep
Go to sleep [x14]
Go back to sleep
Go back to sleep
Go back to sleep
Counting bodies like sheep
Go back to sleep
Go back to sleep
Counting bodies like sheep
Go back to sleep
Go back to sleep
Counting bodies like sheep
To the rhythm of the war drums
Go back to sleep
Go back to sleep
Counting bodies like sheep
To the rhythm of the war drums
Go back to sleep
Go back to sleep
Counting bodies like sheep
To the rhythm of the war drums [x2]
I’ll be the one to protect you from your enemies and all your demons
I'll be the one to protect you from a will to survive and a voice of reason
I'll be the one to protect you from your enemies and your choices son
They're one in the same, I must isolate you…
Isolate and save you from yourself …
After President Wilson signed the Federal Reserve Act into law in 1913, he reportedly said, "I am a most unhappy man, I have unwittingly ruined my country...a great industrial nation is now controlled by its system of credit...the growth of the nation, therefore, and all of our activities are in the hands of a few men..." Thus we have an early statement about the threat to "democracy" occasioned by The Fed.
ReplyDeleteI wish the paid-off politicians of today could show a little remorse.
Underwear boy was a staged FF for Yemen.
ReplyDeleteLook how much that accomplished. Fear Fear Fear. X-Ray machines for your sons and daughters.
Only stating what I see around me, I am not a "troll" whatever the heck you are talking about. Just stumbled across this website from another, but it seems there are a lot of touchy folks that hang out here. If you lived in my area you would say the same thing, and not talking about some "troll".
ReplyDeleteI am not saying it won't get worse here since so many things are interconnected, but from what I have read there are more states on either coast losing population to the belt states becuase of this downturn, just my two cents worth
I live in the midwest heartland. All our industries are gone. My hours are cut at work, my wife has been laid off from HR DIRECTOR for about 9 months and no jobs in sight. I think when you see malls full and restaraunts full it is people spending there income of 8-15 bucks an hour and not saving or preparing for what is about to come. Save your money you will need it for heat it will be worthless if they keep printing the shit. Our are is at a true 15% unemployment Michigan is ruined detroit more like a 50% unemployment. In our state our malls and stores are dead they just closed the movie theatre who can afford 12-15 dollars a ticket. They just closed numerous restaraunts this fall. Our malls are bankrupt and may close entirely the largest mall in our state. So yea it is real great I dont even remember what a restaraunt pizza taste like. Tough times in my neck of the fields.... Heartland of america.
ReplyDelete11:03.... Right ON MAN !! Let's just get the freeekin party started, so we can get through it! Sucks just sitting here waiting....waiting.....waiting....waiting....
ReplyDelete!!
I just had my hours cut to 8 per week. thats no typo. from 40 hours down to 8. What to do....What to do...... What to do.........
This first quarter is going to be BRUTAL...
Didn't take long for business to figure out they are soooooooo screwed.
May as well lay off some folks while the unemployment checks still cash.........
How long til they give us an IOU instead of an
actual check or direct deposit...?? months?
a year maybe?? then what.............
Hold on tight, its gonna be a long emergency.....!!!!
The view from florida is not good.
ReplyDeleteNobody smiles anymore.
Nobody laughs anymore.
There's a somber atmosphere wherever you go.
Everyone is worrying about money and tightening the belt. Some people are starting to consciously realize that things are a lot worse than they're telling us. There are no jobs anywhere.
Businesses are gradually shutting down.
Many people have been on unemployment over a year and are worried the govt will cut them off.
Millions are on food stamps.
Florida has a huge population of retired people on social security.
Imagine if the govt stopped all unemployment and social security.
Or hyperinflation would make their payments worthless.
ReplyDeleteMy luck: I'd win the lottery and the HI would hit lol.
I get what you are saying about no one smiling anymore. I look at that and think holy shit people these are the GOOD TIMES or as good as well ever see again in our lifetimes.
I am in the cornbelt in the Midwest US of A.
ReplyDeleteMy area has done a lot better than many other areas in this nation but I am now starting to see signs of the coming depression. The lone busy mall in my city is starting to empty out and lots of other stores have become less busier lately.
I understand some of this has to do with Xmas behind us as people just spent lots of money but the feeling is now different. People here spent a lot of money this Xmas and now the reality of that spending is hitting home.
This area has always been prosperous as far back as I can remember but the tide is changing now. It's the way the people look...their faces...their attitudes. It's the deadness in their eyes that tells you things have changed.
Their eyes and faces always tell you what you need to know.
Just got back from Sam's Club. I bought some milk for consumption now and everything else was for my "stash". The store was very quiet, very few shoppers. There were 4 check out lines, three of the checkers had one customer each. There was also a LOT of empty floor space. Maybe they are getting ready to display summer time stuff, or...
ReplyDeleteI'm in Southern California. After Saigon fell, many of the "Boat People" were housed at Camp Pendelton and eventually settled in the Westminister / Garden Grove area of Orange County. We have the largest Vietnamese community outside of Viet Nam. I have no problem with the Vietnamese. They're women are beautiful! Once they got settled here, it was common to see them in the parks, grabbing ducks with a share. To them a duck was dinner. They never understood why we would allow ducks to live a protected life in a park.
Mark my words, when the SHTF, the ducks will disappear and so will the dogs and cats.
1:56pm: I know folks in Fla; we left there 30 years ago, and so did others I knew. Seems they've always had high unemployment..never really good jobs, just low paying..4:29pm: me and others are cat and dog lovers (hugs and kisses daily!) we will have to restrain them if the shtf. Seems Sam's is not as busy in my area.
ReplyDeleteThe truth definitely is out there, or in here. The internet, with all of its mass bullshit and what not, is still a tremendous tool for everyone of us. By reading each person's (troll or not)perspective, observations, thoughts,and so forth, we are each better able to analyze what is happening both near and far. Often I find that I learn more (not always) from fellow reader's comments than from the stories themselves. Thus, one is able to get a broad-spectrum of ideas, and just simple eyes and ears descriptions of what each of us see going on in our area.
ReplyDeleteI live outside of Baton Rouge,LA and from what I understand we have a much better job market than many other areas of the country(though not ideal). Our local economy is essentially built on a foundation of oil/gas production and consequently a large petrochemical/chemical manufacturing base. Currently we have been partially(temporarily?) spared, but I have no illusions of what may lie ahead. Don't forget to lend a helping hand when one can do so without jeopardizing one's family etc.. Use your brain,but don't forget to have a heart when the time is right.
I wish Bill Hicks was still alive to get his take on the events of the last ten years.
ReplyDeletethis is what I am experiencing in Missouri. Haven't had a raise in three years. Started out making about a dollar more than minimum waqe, now I am making minimum wage. Insurance premiums have gone up. Gas is a dollar more a gallon than three years ago. Food prices are rising rapidly. Everything keeps going up in price but he wages not going up. Needless to say even with health insurance my cut of doctor bills still high. Vehicle is wearing repair bills are high. If the government takes anymore of my check I might as well quit my job because then I will just be working for them. Do I hear the word slavery?
ReplyDeleteI feel your pain brother. We cut and ran from Mexifornia in 07. Looking back at all my hard work, I realize now I was chasing the wind. I have lost most everything including my dog.
ReplyDeleteComing depression? Hell it's here!
wow, this group is growing bigger. I live in southern california, ventura county, Let me say, there are no jobs at all. The kids can't find any, age 19-23, going on 13th month of unemployment. It's sad, when the common, honest hard working man wants to work to feed his family and pay his bills and there is no work, you have to say, THIS IS SICK. Where do we go from here. Do I trust FDIC with my money, cds don't pay. Will it be worthless. I have no idea which way to turn. It's scary. I am stashing ammo and buying tons of seeds. I feel silly and can't say much to many as I know they think I'm nuts. However, if people wake up they will see, slowly, daily things are turning to shit, jobs are fading, people are more desperate. Governement is a joke, we can't trust our politicians now, more so now than any other time...bought off son of a guns. We are being controlled. I have not met so many people in my life who wish ill on our administration.
ReplyDeleteI just want the right honest person to figure out a way to get our country on track ! ! damn it. Glen Beck rules.... keep sharing and let me know where to get food, or what is the best food to stock up on.
CheriHartShow@aol.com Thanks you all Cheri
Beck is a shill. Claims to be some sort of truther but pimps the 'official' 911 story. Claims there are no Fema camps ready to take in American citizens when there is concrete evidence of hundreds. Portrays economic disaster as horrible mistakes made, not outright theft.
ReplyDeleteHe's a gatekeeper and a fraud.
If someone is yapping at you on a corporate news channel please be aware enough to know that a corporate news network determines boundaries.
That said, as far as getting our country back on track it is far too late. That is done, gone. Worry about yourself, prepare the best you can.
Food - any canned foods; store water; freeze dried foods avail online at Costco, just search for Emergency foods.
I wish we could just stop the offshoring of jobs and deport all of the H1B & L1 visa holders and give all of these jobs back to Americans. That would solve a big part of the problem.
ReplyDeleteThese CEOs that sold Americans down the river and hired these foreign low cost workers should be executed for treason. Decapitate each and everyone of them in front of their families and show it on TV to warn other CEOs what happens to traitors.
America is going down the drain because most Americans can't or won't organize to oppose the forces that are wrecking it. It's that simple.
ReplyDeleteThe clergy's primary job is that of watchdog, to ensure honesty in government and business. This is why God separated religion (Aaron) from government (Moses). The clergy has tremendous power. Too bad they don't know how to use it properly otherwise America would be a very different and substantially better nation.
Too bad there is a clergy at all. Deluded morons. Moses was a mythical character anyway. Mises, Moses, on down the line; many mythical carbon-copy lawgivers who came down from the mountain. Cartoon time.
ReplyDeleteHa, 2:46 is bitter since all things don't go his way, then blame God, you will pay some day for no belief
ReplyDeleteGlenn Beck is a mouthpiece for the government. That is why he gets by with what he says. He says what the conservatives want to hear. But he says don't take up arms - just vote. Voting does no good. The two-in-one party of democrats and republicans run everything. There needs to be a strong third party if something is to truly be done. The government must really think we are a bunch of morons. I use to like Glenn Beck until he started saying things that started disturbing me. He definitely works for the government.
ReplyDeleteIF THAT PHOTO IS FROM HAITI, PLEASE REMOVE IT. IT IS IN COMPLETE BAD DISTASTE. SHAME ON YOU.
ReplyDeleteTo: 8:47am
ReplyDeleteNoodles123: It's NOT in bad taste...It's an example of what happens when society breaks down quickly...I'm not going to assume white people wouldn't do the same if thing got weird in the south...The picture is a REALITY.
When things break down...Good people steal/rob and lie...Not all but a good percentage...Panic/low preparation is the killer...Remember Iran's huge earthquake that killed like 30,000 or Mexico's which killed thousands?
Well most people did NOT panic and were prepared in some aspect and mostly rode it out till help came.
Haiti is a mess of super poor/uneducated and addicted to aid people (10,000 charities operate out of Haiti)...Not because of racism but some of the young do become like animals if they get the chance.
I'm sure the same thing would happen in Atlanta/Detroit/LA/Parts of Dallas/St. Louis and South Chicago etc...That's the point...WAIT...I guess there might be a pattern.
YOU ARE SO INCREDIBLY WRONG 8:47. You have no idea what you are talking about. That is not what happens when society breaks down. That is what happens with a NUCLEAR BOMB goes off. NOT THE SAME. Comparing HAITI to what is happening in this country is an utter disgrace. EVEN THE GREAT DEPRESSION never saw the MAGNITUDE Of death and suffering and inability to recover that this country is facing. Get a grip.
ReplyDeleteYou morons have no idea what happens when collapse of society occurs. You know why? You watched too many Commando, Cobra, and Rambo movies while growing up as a kid, with Arnold, Stallone, and Co. You are brainwashed into thinking guns are the answer to everything and that people are like you and react with guns and violence first instad of with ingenuity and skills.
ReplyDeleteInstead of scare mongering about the end times and pretending you are smarter than everyone else because you have a few pieces of gold jewelery in storage and plenty of bullets, why don't you learn some real survial skills. I dont care who you are, you may not last in the urban jungle for long, supposing there is even water available to your friggin house.
What a disappointment. Instead of keep a bit of humility, you post a photo from Haiti. There are people RIGHT NOW, that are dying a slow agonizing death trapped under tons of concrete. There are children lying next to dead bodies for lack of how to care for themselves having lost everyone who might have cared. And you liken this utter tragedy to a slow economic down fall of the US? No one said that the US doesn't have money. IT does. Just not in the right hands. What is happening in Haiti is that no one has anything left. Not even a comparison. Haiti doesn't have a food program. THere are no food stamps. No shelters, nothing to absorb this tragedy. This is beyond the worse economic plight this country has ever seen and to suggest that we are right around the corner form it is despicable.
ReplyDeleteThat just goes to show what class our dear host has. Maybe it will help get more hits or ad sales.
ReplyDelete