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2012 Will Be More Difficult Than 2011

Do you believe that 2012 will be more difficult for the global economy than 2011 was?  Well, that is what German Chancellor Angela Merkel believes.  The woman that has become the most important politician in Europe recently declared that 2012 “will no doubt be more difficult than 2011″.  The funny thing is that she has generally been one of the most optimistic public figures in Europe throughout this debt crisis.  But now even Merkel is openly admitting that 2012 is going to be a really, really bad year.  Sadly, most Americans simply do not understand how important Europe is or how interconnected the global financial system has become.  The United States actually has a smaller population and a smaller economy than the EU does.  In fact, the EU has an economy that is nearly as large as the economies of the United States and China combined.  The EU also is home to more Fortune 500 companies that the U.S. is, and the European banking system is far larger than the U.S. banking system.  Anyone that does not believe that a financial collapse in Europe will have a devastating impact on the U.S. economy is living in a fantasy world.  Americans better start paying attention to what is going on over there, because we are about to be broadsided by a massive financial tsunami originating out of Europe.

It is not just Angela Merkel that is warning that 2012 is going to be a difficult year.  The following are several more very prominent individuals that are warning that bad times are on the way….

*Citigroup’s chief equity strategist, Tobias Levkovich, recently made the following statement….

“Europe is likely to have a meaningful recession in 2012″

*Christine Lagarde, the head of the IMF, recently said that we could soon see conditions “reminiscent of the 1930s depression” and that no country on earth “will be immune to the crisis”.

* Willem Buiter, the chief economist at Citigroup, recently said the following….

“Time is running out fast.  I think we have maybe a few months — it could be weeks, it could be days — before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it.”

* Even Paul Krugman of the New York Times is sounding quite apocalyptic….

“At this point I’d guess soaring rates on Italian debt leading to a gigantic bank run, both because of solvency fears about Italian banks given a default and because of fear that Italy will end up leaving the euro. This then leads to emergency bank closing, and once that happens, a decision to drop the euro and install the new lira. Next stop, France.”

I have written quite a bit recently about all of the signs that parts of Europe have already entered a recession.

Well, in just the past few days even more numbers have been released that indicate that a recession has now begun in Europe…..

-Manufacturing activity in the euro zone has fallen for five months in a row.

-Bad loans in Spain recently hit a 17-year high and the unemployment rate is at a 15-year high.

-Government revenues in Spain have not been up to the level that was expected.  The Spanish government just announced that the budget deficit for 2011 is going to end up being much larger than anticipated.

-Unfortunately, it appears that virtually all sectors of the Spanish economy seem to be slowing down….

The central bank said early indicators show that Spanish tourism, exports, spending and investment have been hit, which is likely to have led to a contraction in GDP in the fourth quarter.

Of course one of the most alarming things happening in Europe is the rapid contraction of the money supply.  It is almost impossible to avoid a recession when the money supply shrinks substantially.  The following comes from an article a few days ago in the Telegraph….

Simon Ward from Henderson Global Investors said the ECB’s “narrow” M1 money figures – tracked for clues on shorter-term spending patterns – show a drastic divergence between the North and South of the eurozone. “Parts of the core may avoid recession but there is no light at the end of the tunnel for the periphery. Real M1 deposits in Greece and Portugal have been falling at an annual rate of roughly 20pc over the last six months,” he said.

Right now, the rest of Europe is heading down the same road that Greece has been traveling on for several years.

Today, Greece is essentially bankrupt and is experiencing a full-blown depression.  At this point, nobody in Europe is even pretending that Greece is going to be okay.  The following comes from a recent Der Spiegel article….

“With debts amounting to 150 percent of GNP, Greece is de facto bankrupt. Over the course of 2011, even the leading representatives of the euro zone finally accepted this fact — after having claimed its opposite a year previously.”

Greece desperately needs relief from all of this debt, but the other nations in the eurozone do not want to provide that relief.  Instead, it looks like Germany is going to ask private creditors to take an even bigger “haircut” on Greek debt than previously proposed.  The following comes from a recent Bloomberg article….

“Germany’s government declined to comment on a report that it may push for creditors to accept bigger losses on Greek debt than previously agreed upon, saying only that talks on lowering Greece’s debt level may end soon.

Germany is studying a proposal to write down 75 percent of Greek government bonds held by private creditors as part of a planned debt swap to ensure greater debt sustainability”

If Germany ends up publicly proposing this, it will shatter what confidence is left in European sovereign bonds.

There is not that much of a difference between a 75 percent haircut and a full default.  If investors are forced to take a 75 percent haircut on Greek debt, then the financial world will have to start wondering if it is just a matter of time before giant haircuts are proposed for Italian debt, Spanish debt, Portuguese debt and Irish debt as well.

Hopefully Germany will not be this stupid.

But something has to be done about Greece.  Right now the IMF is projecting that Greek debt will reach 200% of GDP at some point in 2012 if changes are not made.

Of course Greece could cut government spending even more, but the cuts that have already been made have pushed that country into a total economic nightmare.

In a recent article, I discussed how the brutal austerity measures that we have seen have plunged the economy of Greece into a full-blown depression….

Just look at what happened to Greece.  Greece was forced to raise taxes and implement brutal austerity measures.  That caused the economy to slow down and tax revenues to decline and so government debt figures did not improve as much as anticipated.  So Greece was forced to implement even more brutal austerity measures.  Well, that caused the economy to slow down even more and tax revenues declined again.  In Greece this cycle has been repeated several times and now Greece is experiencing a full-blown economic depression.  100,000 businesses have closed and a third of the population is living in poverty.  But now Germany and France intend to impose the “Greek solution” on the rest of Europe.

The “solution” that the EU and the IMF have imposed on Greece is not working.

So why are all of the other troubled nations in Europe being pushed down the same path?

Just consider the following statistics out of Greece….

*The unemployment rate for those under the age of 24 is 39 percent.

*The number of suicides has increased by 40 percent in the past year.

*Thefts and burglaries nearly doubled between 2007 and 2009.

Is that what we want to see throughout the rest of Europe?

The financial path that Europe is now on was criticized very harshly recently in the New York Times….

“Every government in Europe with the exception of Germany is bending over backwards to prove to the market that they won’t hesitate to do what it takes,” said Charles Wyplosz, a professor of economics at the Graduate Institute of Geneva. “We’re going straight into a wall with this kind of policy. It’s sheer madness.”

Yes, it is sheer madness.

Right now, authorities in Europe are desperately trying to keep a lid on this crisis.  The European Central Bank has been trying really hard to keep the yield on 10 year Italian bonds from rising above the very important 7 percent level.  But unless the ECB is prepared to spend hundreds and hundreds of billions of euros buying up Italian debt in 2012, the yield on Italian bonds is likely to go much higher eventually.

At this point, it is hard to find any economist that is optimistic about Europe or about the euro in 2012.

One of the leading economic think tanks in Europe, the Centre for Economics and Business Research, is extremely pessimistic about the future of the euro as we enter 2012….

“It now looks as though 2012 will be the year when the euro starts to break up”

In fact, they say that there is a 99 percent chance that the eurozone will break up within the next ten years.

Terry Smith, the chief executive of Tullett Prebon, recently used language that was even more apocalyptic….

“If the eurozone crisis could be solved by confident pronouncements, it would already be saved. I would be shocked if Greece does not leave the eurozone in 2012 and this does not lead the markets to test the resolve to defend the positions of Portugal, Spain, Italy and, ultimately, France.”

Yes, there are a whole lot of people out there saying that 2012 will be more difficult than 2011.

Fortunately, there are a few nations out there that are choosing to try some different things.

We aren’t hearing much about it in the United States, but right now Hungary is actually taking some measures to get their central bank under control.

The following comes from a recent article in the Telegraph….

Hungary passed laws for its central bank in a move that experts warned could jeopardise its chances of securing international bail-out funds if it needs them. Officials from the International Monetary Fund (IMF) have warned about the rules which will undermine the independence of the central bank. Hungarian prime minister Viktor Orban the country would not bow to the “European fashion that the central bank must be in a sacred state of independence”.

Of course the IMF is absolutely furious about this.  The IMF is warning that there will be no bailouts for Hungary if they mess with the “independence” of the central bank.

But hopefully more countries out there will start going after their central banks.  The truth is that it is the central banks and the endless debt spirals that they create that got us into this mess in the first place.

If central banking truly worked, Europe would not be in such a massive amount of trouble.  The euro would not be dropping like a rock and the European financial system would not be paralyzed by panic and fear.

The reality is that central banking does not work and it a colossal failure.

For example, in the United States the U.S. dollar has lost well over 95 percent of its value since the Federal Reserve was created, and the U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was created.

It is amazing that there is anyone out there that is still willing to defend central banking.

2012 is going to be one of the most interesting years that we have seen in a long, long time.

Yes, 2012 will be more difficult than 2011 was, but it will also be a great opportunity to wake people up.

Our world is changing faster than ever before, and the Internet has made it possible for average people such as you and I to significantly participate in that change.

Resolve to do what you can to make a difference in this world in 2012, because time is rapidly running out.

  • McKinley Morganfield

    That’s an astounding quote from Krugman as he as been one of the loudest cheerleaders for endless ‘stimulus’ and ‘qualitative easing’. If Keynesian Krugman is showing the first signs of doubt you know the situation is dire indeed!

    • 007

      Krugman believes we can have debt levels in excess of 200% of GDP.

  • Rodster

    Happy New Year and thanks for cheering me up Michael. :)

    The only way this economic mess around the world will ever get resolved is when everyone “both the governments and citizens” accept that socialism doesn’t work and never will.

    • Michael

      I am afraid that my goal is not to cheer people up. :) My goal is to help wake people up and help motivate them to take action.

      Michael

    • jox

      Could you explain how do you reach this conclusion, when the socialist countries in the world are in a far better ecnonomic situation than the capitalist ones? If this crisis has demonstrated anything is the failure of the capitalist concepts.

      • Sid Davis

        Where does free market capitalism exist? Tell me cause I want to go there. What you have in the US is a combination of economic fascism (collusion of government and corporations to rig the economy to benefit the few at the expense of the many), socialist (taking one taxpayer’s money to give to those that economic fascism drove into poverty), and a small remnant of free market capitalism.

        The failure you see is not the failure of free market capitalism; it it the failure of government interference in what once were free markets. And what is the evidence for your strange claim that socialist countries are in far better shape?

        It is true that all will experience economic collapse and the sad part is that socialism has made many people dependent on government handouts that will disappear in the collapse. When the USSR collapsed in the 1990’s at least 1 million silently died because they depended on government, and so too will the dependent find themselves out in similar circumstances in the US.

        It is highly likely that civil war or revolution will continue to happen around the world, including the USA, as a result of this disaster we face, so if you think that the flaming on the internet is unpleasant, just imagine what happens when the thin veneer of civilization gives way to our baser instincts, and guess which citizen group has the guns, the anti-gun liberals or the “gun nut” conservatives and libertarians.

        • Gay Veteran

          hey Sid, government got involved in business because big corporations were running wild (remember the Robber Barons in the Gilded Age and the fraud of the 1920s?).

          btw, I’m a gun owning liberal and there are LOTS of us! so don’t buy the NRA propaganda

      • Jeremy

        I disagree.

        The orientation of these socialist countries, and I believe you mean the scandinavian countries and those of western europe, is fundamentally different from the US. These nations have been in economic malaise, or have flatlined, due to these concepts.

        The question is what type of country do you want, and what type of life do you want? With his structuring of the executive branch, promises during his election campaign, and legislative achievements, the goal of President Obama is to remake American society, much in the same way as Europe in the post-WWII period. Heavy regulation over the economy, redistributive programs (which include the “entitlements”), and less effective military presence in the world.

        The US model, to a much greater extent than its sovereign competitors, has prized less regulation, lower taxes, fewer redistributive programs, hence the ideas of rugged individualism. When these ideas are put into motion, there is little malaise, and also more fissures in the economy, because as you know, ideas in the market sometimes succeed, and sometimes fail.

        What you have seen in the US is a fundamental tension between two camps, those that believe in the Euro model, and the second which believes in the traditional US model. Poltical infighting between these two factions has resulted in a economic malaise. Social forces which underlie both camps have also resulted, in my opinion, in a fight over the heart and soul of this county (the latter which started many decades ago). Because of this tension, you see this economy is a relative free-fall. Europe has already chosen its course, there is little fundamental change that can be accomplished in the short term. It is different here.

        This is my interpretation of the situation. I do happen to believe more in free-market principles. My father grew up in a poor family. Because of the opportunity afforded in this society, he was able to move to his dream area, start develop and sell a successful small business, and make very good money in his field (pharmacy). It has allowed our family to experience many things, and see much of life we would not be able without this opportunity.

        I have done the same as my father. I am comfortable with the risk, the fissures, because my conception of life involves not only money (the communist worldview is a primarily materialistic, economic conception of reality — very different from mine, the Judeo-Christian worldview), but of freedom to move, to speak, and to see the world. Of course, this cannot be accomplished without credentials and money, so there need to be the available jobs to give that opportunity. Job creators have to be encouraged to create jobs.

        What I see from the comments on this site is fear of the unknown. This fear is not without merit: there is real suffering in our country right now, and it is enough to break your heart. I have suffered greatly as well, as the universe of jobs dries up. But Jesus asks us this fundamental question: What really is life? What happens when everything crumbles around you? The answer is that this can happen at any moment, and your fortunes can change with the snap of a finger. As a Christian, I have learned that, as I have no idea when my opportunity will come, as long as I have God, I am eternally thankful.

        People criticize those who believe in God, as some imaginary figure in the sky, but it is really as simple as the belief in a materialistic worldview versus one which believes in God.

        Our nation has lost its original purpose: to be content in having true liberty and freedom, which God intended for us to have. We became lost in hedonism as our economy exploded, as we became more wealthy than any other people in history. We traded freedom for money, and look where we are. Money is great, and under our political ideology (as defined by our founding fathers), is a blessing given by God from our freedom.

        Maybe Ron Paul is right that we should audit the Federal Reserve, and maybe Romney is right that Washington is broken. And maybe Obama is right, that our course is unsustainable. I happen to agree with a little of Paul, a lot of Romney, and almost nothing with Obama.

        But the key is that I have God, and despite what happens, will be eternally grateful.

  • Toomanyfakeconservatives

    How do you bail out a planet?

  • Andrew

    I’ve been readint this blog for over a year now and absolutely love it. Anyway, I would like to take a moment and let anyone who may read this comment to please lookup Stanley Meyer. Good research on his water powered car (100% water) can be found at http://www.waterpoweredcar.com Also look into Russ Gries at http://www.rwgresearch.com he is a friend of mine and is getting far in replicating some of Stan’s research for free energy. 2012 is going to be very difficult I believe, and maybe water tech will help some of us. Just a thought

    • Michael

      Andrew:

      I am glad to hear that you are enjoying the articles. :)

      Michael

  • T

    Sorry Michael I didn’t read much of your article, I’m trying to take a break from the doom and gloom. I want to say though that the head of the imf statement on a 1930’s depression is something we Americans have been experiencing already. Screw what happens to europe our situation can’t get much worse although I definitly know it can. I just think way to much attention has been given to Europe the past couple months. I’ve been reading the same attention getter headlines about Europe for months. Europe isn’t very important. Zerohedge was hyping up the Europe situation the same way anything happens between israel/u.s./iran gets all hyped to hell and its the start of world war 3. Or the hyped example of how fukishima was going to kill mankind. If people who read alternative media consider themselves smarter than sheeple then it’s time we start asking questions about these type of redundant headlines. I’m not knocking what you write about Michael. The stuff I care about, you cover.

    • McKinley Morganfield

      ” Europe isn’t very important.”

      I have a few suggestions…. for starters; investigate the size and scope of the European financial institutions, find out how much the USA exports to Europe, and (for a bit of history) look into where the global bank failures of 1932 originated. I predict that you will then realize that what is going on in Europe is very important to the average American.

    • comnenus

      FFukashima ain’t over. People who follow the MSM , imho, deserve to be affected by it.

  • r.bitting

    ” He who believes in me, believes not in me but in him who sent me. And he who sees me sees him who sent me. I have come as a light into the world, that whoever believes in me should not abide in darkness. And if anyone hears my words and does not believe, I do not judge him: for I did not come to judge the world but to save the world. He who rejects me, and does not recieve my words, has that which judges him – the word that I have spoken will judge him in the last day ” The words of Jesus Christ.. John 12:44-48

    • Tapper P.

      Please don’t prepare at all. You are covered. LOL.

      • r.bitting

        I’m far more prepared than you could possibly imagine.

    • Gary2

      You sound like a Pharisee!

      • r.bitting

        Those are not my words, Those are the words of Jesus Christ, whom you are mocking. Why do you persecute him? It’s hard to kick against the goads Gary2.

        • gary2

          what is a goad? is it related to a toad?

    • justamom

      Sobering words and quite appropriate right now, r.bitting. Thanks!
      I know it has been a week or two, but I just found your post and responded to your reply on the “Catastrophic Event” article. Thanks for your kind interest.
      God bless and keep looking up!

      • r.bitting

        Justamom…. I did read your post on the “catastrophic event” article, and I think it’s fantastic what you wonderful people were able to accomplish on your mountain with all your neighbors. You have made inroads that are sure to lead to some lasting freindships for all involved, and Lord willing many saved souls as well through your Christian witness. You have truly been a good freind of mine on this blog, and have been an inspiration to me on more than one occasion. May God bless you, your family and neighbors richly my freind.

  • http://thebiggreenlie.wordpress.com/ thebiggreenlie

    Well written and timely. Unfortunately the fate of the financial world is in the hands of psychopaths and not the ordinary citizen.
    If the idiots that are “managing” this massive meltdown would do what us “ordinary” folk do when we run into money trouble and that is, pay down the debt, stop spending money on unnecessary things, make things last longer instead of replacing them when they start to wear out and one last thing; when unable to pay all the creditors, declare BANKRUPTCY and start over again!

  • wilson

    Happy New Year one and all!!!!!!!!!

  • REED RICHARDS

    Michael,

    Articles likes these make little sense.

    1. 2012 will be more difficult than 2011?
    Ya think?

    2. Debt jubilee should be declared and all existing derivatives done away with. Full haircut or default, call it what you want but these endless ring around the rosey shell games of boom and busts, banker bailouts, QE to infinity and austerity measures is not solving anything. To the contrary it is making a bad situation even worser by the second.

    3. Voters addicted to the democrat and republican wings of the war party need to get their heads out of the sand and stop voting for psychopathic monsters who implement nothing but banker bailouts, war, and martial law……..

    • Rancher

      Reed,

      I believe you are wrong on point one. Polls I see say people in America think…2012 will be better. They are simply trying to channel their hopes and fears into some form of reality but never the less they are wrong. They would rather believe in their dreams than live is real life. Normalcy Bias rules their live. They also do not read this column ;-)

      • REED RICHARDS

        Rancher,

        I don’t follow you. You say I am wrong but then you state that people based their assessments in polls on their hopes and dreams and not facts. How, then, could I be wrong in my conclusion? As Gerald Celente puts it, current events form future trends. And if current and past events are any guide, 2012, just like every year thereafter, promises to be worse than the year before it……………..

  • wilson

    Of course the IMF (and we know what MF stands for)is furious at Hungary. Hungary is trying to solve it’s problems rather than be destroyed economically by the IMF, and trying to avoid being taken over politically by the IMF. Good for Hungary.

  • Patriot One

    All true Michael, but I have it from a very highly placed source that the PTB are going to kick the can down the road no matter what.

    Whether its via the printing press or digital markup the EBC and the IMF are going to play the Federal Reserve like a fiddle. The Europeans well let any 2 or 3 of the PIIGS go down to sucker us in.

    Yes that’s right the U.S. Federal Reserve is going to back stop the globe even though we are broke. But worry it will be sold as an investment or a Refinance.

    • Michael

      I appreciate the intel. :)

      It will certainly be interesting to see how things play out.

      Michael

      • REED RICHARDS

        Michael,

        You are wrong in one very important aspect. the Europeans are not going to play us as “suckers”. That is far from reality. The Europrean banks get money from the Federal Reserve because they are primary dealers for the Federal Reserve and its monetary policies. Which means by design the Asylum States government by its own idiotic and selfish desires will ensure that these foreign banking institutions will not collapse, not the other way around.

        This list changes from time to time, as you will notice that MF Global, for obvious reasons is no longer on this list. I would think that you of all people would know this already.

        http://www.ny.frb.org/markets/pridealers_current.html

        Primary Dealers List

        Primary dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy. This role includes the obligations to: (i) participate consistently in open market operations to carry out U.S. monetary policy pursuant to the direction of the Federal Open Market Committee (FOMC); and (ii) provide the New York Fed’s trading desk with market information and analysis helpful in the formulation and implementation of monetary policy. Primary dealers are also required to participate in all auctions of U.S. government debt and to make reasonable markets for the New York Fed when it transacts on behalf of its foreign official account-holders.

        E-mail alert

        Primary Dealers Additions and Removals Name

        Changes
        Bank of Nova Scotia, New York Agency
        BMO Capital Markets Corp.
        BNP Paribas Securities Corp.
        Barclays Capital Inc.
        Cantor Fitzgerald & Co.
        Citigroup Global Markets Inc.
        Credit Suisse Securities (USA) LLC
        Daiwa Capital Markets America Inc.
        Deutsche Bank Securities Inc.
        Goldman, Sachs & Co.
        HSBC Securities (USA) Inc.
        Jefferies & Company, Inc.
        J.P. Morgan Securities LLC
        Merrill Lynch, Pierce, Fenner & Smith Incorporated
        Mizuho Securities USA Inc.
        Morgan Stanley & Co. LLC
        Nomura Securities International, Inc.
        RBC Capital Markets, LLC
        RBS Securities Inc.
        SG Americas Securities, LLC
        UBS Securities LLC.

    • Steve

      The Fed has been doing that for years already. No newsflash there… Played like a fiddle, as you say.

    • REED RICHARDS

      Patriot One, Michael,

      You guys are wrong in one very important aspect. the Europeans are not going to play us as “suckers”. That is far from reality. The Europrean banks get money from the Federal Reserve because they are primary dealers for the Federal Reserve and its monetary policies. Which means by design the Asylum States government by its own desire will ensure that these foreign banking institutions will not collapse, not the other way around.

      http://www.ny.frb.org/markets/pridealers_current.html

      Primary Dealers List

      Primary dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy. This role includes the obligations to: (i) participate consistently in open market operations to carry out U.S. monetary policy pursuant to the direction of the Federal Open Market Committee (FOMC); and (ii) provide the New York Fed’s trading desk with market information and analysis helpful in the formulation and implementation of monetary policy. Primary dealers are also required to participate in all auctions of U.S. government debt and to make reasonable markets for the New York Fed when it transacts on behalf of its foreign official account-holders.

      E-mail alert

      Primary Dealers Additions and Removals Name

      Changes
      Bank of Nova Scotia, New York Agency
      BMO Capital Markets Corp.
      BNP Paribas Securities Corp.
      Barclays Capital Inc.
      Cantor Fitzgerald & Co.
      Citigroup Global Markets Inc.
      Credit Suisse Securities (USA) LLC
      Daiwa Capital Markets America Inc.
      Deutsche Bank Securities Inc.
      Goldman, Sachs & Co.
      HSBC Securities (USA) Inc.
      Jefferies & Company, Inc.
      J.P. Morgan Securities LLC
      Merrill Lynch, Pierce, Fenner & Smith Incorporated
      Mizuho Securities USA Inc.
      Morgan Stanley & Co. LLC
      Nomura Securities International, Inc.
      RBC Capital Markets, LLC
      RBS Securities Inc.
      SG Americas Securities, LLC
      UBS Securities LLC.

  • http://EconomicCollapse Already Gone

    Before the u.s had been declared part of the world’s battleground, the government has been
    monitoring cell phone,internet, cb radio, ham radio traffic.I Would not be surpised if this blog and other’s that the government considers a threat to national security are censored and/or shutdown completely. I hope Hungary stands tall and rock solid and does not budge one inch,of course the imf is going to be mad,
    if alot of countries follow there lead can you imagine what would happen to the ptb’s carefully
    laid out plans? so blackmail or strongarm tactics will be implemented.All i can say is whatever happens,happens.I will say this much,
    i had the opportunity to add extra “seat belts”
    to make the ride more confortable and thus a little more peace of mind. As Flounder would say
    “Boy,is this exciting”

    • Josh Hasbrouck

      If only 10,000 marbles would solve this problem. Love the Animal House reference!

  • newton

    Thomas Jefferson warned us repeatedly abour foreign entanglements; Benjamin Franklin begged
    us as individuals to resist the temptous banksters and I do not have enough space to list all the forefathers’ names and credentials that warned us about growing government, growing
    banks and growing economies based on anything but domestic manufacturing.

    Our forefathers knew; all one must do is read

    They were brilliant minds – I believe in divine providence and put here ONCE – and for a reason.

    It’s really quite simple; once again; mankind has miserably failed to follow a simple, concise
    plan; laid out for all to see in very easy language and now we are ALL going to pay the price —– ONCE AGAIN

    Someday; maybe we’ll learn; but apparently; the teachings of 157 of the greatest minds ever put on this earth and the one book that holds the answer to every question man has ever had —-

    Are still not enough – so here we go — AGAIN !!

  • Brian

    The U.S. National Debt is approx. $15.2 Trillion. The debt-to-GDP ratio is 100% and the CBO estimate of our debt will increase to $20 Trillion (yeah…I think that’s kinda low) by 2020.

    The U.S., as stated, is in a bad position due to our debt, etc. Now, add that to what will go down in Europe (as stated in your article(s)).

    ‘The Great Depression’ might not have been that Great after all!!!

  • John O’Neill

    Unfortunately, I have to agree with Bob Chapman from the International Forecaster (http://www.theinternationalforecaster.com/)- if Ron Paul isn’t elected – WE’RE SCREWED.

    • Tapper P.

      Ron Paul cannot be elected because the Oligarchs that run this country/corporation determine what puppet is placed in as leader, not the sheeple.

    • Leah

      agree 110%

      • Leah

        agree 110% w/ J O’Neill that is

  • tak

    Keep up the good articles mike,love all the hard work you do

    • Michael

      Thank you tak!

      May you and your family be incredibly blessed this upcoming year.

      Michael

  • Concerned person

    You keep saying we should do something but what exactly should we do? I personally feel powerless.

    • Erin

      There are a lot of things that can be done on an individual and group basis. One aspect that has come to the forefront, in this and past and recent articles, is to recognize that the “new-world-order” is a monopolistic centralizing force (the viral borg). The opposite is decentralized individualism.

      The ultimate in centralized monopolies would be a world-wide tyranny, run by sociopaths, not a viable solution. The EU is an example of this.

      The ultimate in decentralized individualism is digging a bunker and hole up with beans and bullets … not a very viable solution either. Living the life of a cave dwelling hermit is not an ideal situation.

      The recent interviews with Catherine Austin Fitts are interesting:

      http://www.infowars.com/america-is-a-insecure-empire-with-catherine-austin-fitts/

      http://www.thedailybell.com/3420/Staff-Report-Catherine-Austin-Fitts-on-Wall-Streets-Corruption-the-Austrian-School-and-Whos-Really-in-Charge

      FWIW, personally I don’t think anyone is really “in charge”, we just have a bunch of nuts with too much power stuck with an unworkable system.
      You have to look into the failures of “corporate culture” to see it.

      Hope this gives you something to look forward to.

  • highspeedloafer

    Wow, what terrifying times we live in. This article is absolutely spot on. I will forward it to everyone I know and encourage everyone else to do the same.
    If you haven’t begun to make preparations for a collapse yet, don’t you think it is now time. People keep telling me they see the problem and understend the depth of the crisis, but say they don’t have enough money to prepare. But, they have enough for cable, vacation, leisure and shopping.

    My family has given up on just about anything that could be considered a luxury so that we can be ready when things begin to unravel. We’ve even held yard sales to get rid of things that we won’t be needing in a collapse. Where there is a will, there is a way. Unlike some on this board, I am not waiting on the government and uncle Obama to bail me out.

  • Kdubs

    I am 18 years old. I graduate high school this year. Start college this year. I’ve got a lot to look forward to. The thing is, what you write about on this site, what you say is going on around the world, does not disturb my life in the least bit ( Not that I am aware of). Is this real? It sure feels like more of a movie or video game. Some places I hear the econonmy is improving, other places its deteriorating. But from what I have collected, my generation is screwed. Dont get me wrong, I am not afraid. But I am sick of waiting…how long before issues,in the likes of which you have been discussing,will reach a young man living in a fairly wealthy community in suburban Minnesota? To me, These issues seem very far off; I dont feel like I have much to worry about. Because at the moment…I dont.

    • Old Man

      If your family is wealthy, or you don’t need to work, there is little to worry. Because you have nothing at risk or face losing things dear to you. Besides, you’re too young and inexperienced about worldly matters to truly comprehend matters of global complexity. So enjoy a good innocent, perhaps utopian life. If you have the money, now is the time to travel. As far and as deep as you can. You will grow up real fast and perhaps learn enough to comprehend the meaning of many things.

    • 007

      You will notice when your parents lose their job or when they can’t afford to send you to college. You will notice when a wave of inflation takes all of your parents wealth. You will notice when you graduate and can barely get a job paying minimum wage. Things are not as stable as they ay seem. Families like your drift along until they lose a good job. Then it is not much of a journey to homelessness and living off food stamps.

    • joe

      At 18, everything seems far off and bad things happen to other people. Let me pass on something I learned as a long distance, off shore sailor-assume and prepare for the worst case. In sailing, it was fire, rapid sinking or man overboard at night. My wife and I practiced, practiced, practiced for every bad event we could envision. None happened but we knew that we were ready if one did. So, get your education (choose a course of study that will help you if the worst happens); go on with your life and hope for the best.

    • Tim

      My heart goes out to you and others in your position, Kdubs.

      In the “tender years” such as yours, life is seen through the localized vision of ones own current life and desires. As wisdom is gained through time and experience, it is truly the understanding that is acquired and which may be exploited.

      Just keep alert and on your toes so to speak.

      You will come to see that truth and understanding doesn’t need to be based on the perceived. What most people perceive is mostly not the way things really are.

      If you are currently blessed in your life then be happy about it. Enjoy your life but pay attention though. Things will change soon enough so don’t be in a hurry for suffering.

      As all of the nasty things start to hit your life and your dreams, your eyes will open fully. Until that time though; please prepare with the truth and the facts that back the truth. Prepare spiritually and materially so you won’t be caught off guard and without.

      And also, Please don’t count on money alone, as it is not the sole solution to anything.

      As far as not having anything to worry about: That isn’t really true or you would not have been here reading these types of articles.

      I’m not sure if what I have said here will help any, but I hope it did.

      God bless you all, and good day.

    • Rancher

      Normal for 18…but you will get it real soon. You can take that to the bank, that is if they are still open. Normalcy Bias feeds off of peoples remaining wealth until it runs out. Then the nightmare begins. Except it is for real ;-)

    • BigDaddy

      Kdubs, The issues have already touched you and you just are not yet feeling the pain. As you prepare to start college, your tuition and costs have now skyrocketed and you will most likely be paying off the college loans for many years. Food prices have increased 30% in the last 12 months (ask Mom). Utility rates are increasing. You have not yet started paying for these things, that is why you have not yet felt the pain…..it’s coming.

    • M

      “Kdubs”

      Happened to catch your remarks post-comment. Because you don’t feel it directly, doesn’t mean it isn’t real. Herein lies a large part of the problem. Many, many people choose to remain in the dark. They are consumed by “reality” television and the acquisition of the latest igadget. You know something is wrong, but don’t have a grasp of what exactly it is just yet, or how serious it is. You are here, so that is a good sign. As for when things will begin to deteriorate to the point when it could land in your backyard, well, if we could answer that…we would all be the 1%. By the way, it could very well be in your community, you just aren’t aware of it.
      Stay out of debt, and good luck in school.

    • M. Hapney

      Kdubs –

      No one knows, but I don’t believe in an overnight SHTF scenario unless TPTB orchestrate something like another false flag. More likely, just a slow death over time.

      You will be affected by it, that is for sure. Everyone will be.

      The more dependent you are on the system – banking, gov, the worst it will be for you. You will need to think outside the box.

      Being fearful is not desired or required.

      Rational thought and planning is what you will need. Think about what you would do if the BASICS – food, fuel, water were inaccessible. If you knew that they were to be cut off in one year, what would you do to plan?

      No one will be coming to help you except yourself. Prepare for the worst, hope for the best.

  • mel

    Here are the 6D that will be happening in 2012 and beyond:
    Debt,Deficit and Deleveraging
    Delusion and Denial
    Depression

  • http://seekingintelligentlifeonearth.blogspot.com/ Divinatio

    I’ve been following this blog site for awhile while also studying economics trying to understand all the various ramifications. The key data is accurate and by all means should lead to the outcomes presented in this blog. However, recently my research has identified an often unmentioned reality:

    1. Money is a man-made construct. Without it, the human race can still grow food, build shelter, make clothes and raise livestock. It’s the way it once was.
    2. Money is only as good as the level of confidence in the institution that backs the money.

    Given #1 & #2, is there pain and sacrifice in America’s future? Most likely we will not escape the economic conditions that plague us unscathed. We may even end up in civil war or savage circumstances as we attempt to survive given the lack of training and preparedness we have in the event of such a crisis as the crash of the US dollar.

    However, mankind will also find a way to move forward. So, sure, I have done what I can to prepare for myself and my family in the event of economic armaggedon, but after years of reading this blog and doing research and driving myself crazy about what could happen, I finally decided that the actors manipulating the economy, foreign relations, the money supply, the market, etc. are operating at a level outside my control.

    When the S$@t hits the fan, I will examine the situation, gather what assets I have that matter and figure out what’s next (or where’s next). I’m glad for resources like this that help people to prepare as best they can, but frankly, get some physical gold and silver, have a couple weeks rations and clean water and then enjoy now!

  • Gary2

    All of the Republican candidates share at least one thing in common: an economic agenda that will benefit the wealthiest 1 percent of Americans at the expense of the other 99 percent.

    Each and every Republican candidate has called for trillions of dollars in new tax breaks for the wealthiest Americans and corporations — all while calling for ending Medicare as we know it and dramatic cuts to Social Security, Medicaid, and countless other programs and services that Americans depend on each day.

    This is why I will vote for Obama. Yes I am disappointed in his being too conservative, however, The worst dem (I am thinking the Ben Nelsons) are better than the best republican although that is not too a high bar to get over.

    • knightowl77

      Why let any facts stand in your way??? What color is it in your world where you rule and can raise taxes on others????

      Gary if it were anywhere close to 1% versus 99% how would you ever lose an election? You Obumster would’ve already given you everything you wanted in fantasy world….

      But keep dreaming….For your sake, never wake up, because the real world ain’t nothing like the one you live in…..

      • gary2

        the constituation gives the gov the right to collect taxes.

  • Gary2

    Michael-notice that the EU countries who are in the most trouble are the ones who followed the USA deregulation and economic policies. The ones like Scandinavian and northern EU are doing fine! The corrupt conservative policies are not just ruining the USA but many other countries.

    We need to as Grover Norquest said, drown conservatism in a bathtub.

    Hows that capitalist shit working out for you? Seems like business who succeed invest in lobbyists to limit competition from up and coming competitors. I hear the return on lobbyists is better than any innovation. Yep, just love capitalism NOT!

    • Jeremy

      The European countries have been in economic malaise for at least a generation, and most of their countries cannot pay the bills and are in massive debt.

      What fantasy are you living in?

  • Gary2

    Obama/Clinton will beat Romney/rubio(yeah the guy who lied about fleeing Cube running with Obama care author).

    Republicans are so done, hopefully for the next generation.

  • ScoutMotto

    In my thinking, it’s a matter of time before the shoe drops in the US. Now is the time for people to get ready. Get that water stored, and some long-term storeable food. Learn some new skills that don’t require electronics to function in the face of an EMP threat.

  • Eric V. Encina

    The Creation of Calamities, Debt & Foreign Aid/Loan Scams of the Government And The Bankers.

    By Eric V. Encina

    God curses those men and women who are awfully responsible to create calamities and put the Filipino people in the carnage of debt finance disaster capitalism and compounded usury, poverty, hunger, diseases, and miseries in the land.

    God curses those men and women in the Government/Political/Economic/Financial/Banking/Budget Authorities who avariciously steal funds for the victims of calamities in the Philippines !

    “It is a terrifying thing to fall into the hands of the living God!” Hebrews 10:31

    OTHER THAN CAUSED BY CLIMATE CHANGE AND OTHER MAN-MADE ENVIRONMENTAL DESTRUCTION, I am very sure that repeated calamities in the Philippines are purely and intentionally man-made, and not of God and not of nature’s doing.

    I have been aware of HAARP, Chemtrails, etc. intended to Philippines and third world nations by the powers-that-be to reduce or substantially eliminate the poor populations – a sort of population by weather modification techniques and alsoadroitly to keep the country in the bondage of further domestic and foreign debts to private, commercial, foreign and international bankers with endlessly compounded interest payments.

    So many evidences but peoples are tomfooled and mesmerized. An evidence right now that following the Philippine government’s assessment of financial market appetite and pricing for the sale of up to US$1.5 Billion global bonds approved by the Philippine central bank (Bangko Sentral Ng Pilipina) BSP, the Government is going to receive early this week or any day in January 2012 US$500 Million in INTEREST-BEARING LOAN at interest from WORLD BANK (WB) that accordingly help fund relief and rehabilitation in the Southern Philippines following Tsunami like Sendong that killed more than 1,000 Filipinos in December 2011. Hundreds killed, 900 missing in disaster

    The Philippines sold Global Bonds due in 15-and-25-years in 2011.
    The Philippine Government is still expecting further hundreds of $millions up to some $billions of dollars at interest in 2012 from the foreign and international bankers because of calamities other than Government deficits, etc.

    Philippines under the present Aquino Administration has been again beholden to Western banking houses as its 80% of the budget goes to interest payments as well as 30% of the total export revenue also goes to pay interest.

    The calamities, debt, poverty and hunger of the poor populations are created by the devil-incarnates in the political, economic and financial authorities who are enemies of God.

    For more than 40 years of my life here in the Philippines, there has been deadly calamities, my poor family members in the province, in the villages, never got any aid overseas passing through the Government and churches.

    Several hundreds of millions to billions of dollars or hundreds of billions of dollars in 40 years time have been sent to Philippines every after calamities passing through the Government offices, ministries, departments and politicians and churches never actually reach the poor and the needy victims of (man-made) calamities.

    In 2010, there were foreign aid sent to the Philippines following Ondoy and Frank in Western Visayas , but the AID MONEY did not feed down to the poor and the needy victims, only claimed by the liars in the Government. It is only in the news that funds have been provided to the victims, but in truth and reality, the funds are deposited to commercial and private banking institutions in the Philippines and or being forwarded to National Treasury (to tide over Government’s Budget Deficit because of debt and interest payments) and or being misused, wasted and stolen by the criminals in the Government both officials in the national and local government agencies.

    The foreign loans and aid in times of calamities do not feed down to the poor and the needy calamity victims. I know this very well as we experienced this over the years. The damned and cursed persons in the government, economic, political and financial/banking authorities make profits out of carnage and miseries of the poor.

    Foreign aid – that does not feed down to the intended recipients, for and in the name of the poor, of the needy, of the victims of calamities, as calming tool with foreign policy conditions such as POPULATION CONTROL PROGRAMS, MILITARIZATIONS, ADHERENCE TO GLOBAL POLICIES, OF THE NEW WORLD ORDER AND OTHER MANDATORY GLOBAL POLICIES PASSING THROUGH THE GOVERNMENTS, POLITICIANS, GOVERNMENT LEADERS, FINANCIAL-BANKING-ECONOMIC INSTITUTIONS, AID AGENCIES, FOUNDATIONS, ORGANIZATIONS AND CHURCHES are only a nostrums of scams and racketeering.

    Foreign and international aid from rich-nation-countries through their hard-earned taxpayers money, their nations also hugely-debt-and-crisis- stricken, to the third world or fourth world – which is nothing but the leaf from the vine for impoverished populations do not feed down to the intended recipients, and – sometimes confuses the issuance of further loans at interest, but such aid funds only go to the rapaciously corrupt and conscienceless money-poisoned debt-addict government leaders, banking and financial institutions and corporations only for their self-aggrandizements, benefits and profits.

    It is, in fact, futile, stupid, to send even any aid to poor population via or passing through these channels particularly through governments, government leaders, financial institutions, because it then becomes a tool for camouflaging the interplay of banking profit and interest – as I have observed and researched in the Philippines and also evidently to other poor countries.

    Foreign aid thus becomes a grand deception of the international bankers and the governments of the rich nations, CONDONED, TOLERATED, SUPPORTED AND BACKED UP by their duped citizens, and thus used as a “calming tool” to hide their devil’s monopoly of money creation, and thereby continue the most atrocious economic and monetary enslavement and terrorism upon the poor populations.

    These funds in questions really arrived to third world nations passing through governments, financial- banking institutions, aid agencies, churches,
    government officials, politicians, foundations and organizations, such funds did NEVER FEED DOWN TO THE POOR AND THE NEEDY, AND THE VICTIMS OF CALAMITIES. For example where did the funds donated from overseas during the successive super typhoons in the Philippines and in particular to Capiz, Aklan, Iloilo and Antique provinces GO in 2009? 2010? 2011?

    Foreign/international aid, that is passing through the third world nation-government leaders, financial-banking institutions, companies, aid agencies, some churches, foundations and organizations and at worse through the banking institutions do not feed down to the poor, to the needy and the victims of calamities.

    Most aid coming from the Western world nations have strings-attached through their foreign policy conditions such as population control programs and militarization.

    Aid is intended, not to relieve, and help the poor peoples in the third world nations but to create the environment of dependency to keep the poor in the cycles of poverty under debt finance disaster capitalism and vicious cycles of compounded usury.

    For reign, international aid is a calming tool of the adroit complexities of the financial-banking-economic- social-political well-designed policies to control the populations without real independence and economic democracy.

    It is a crime that repayment of debt and interest is a top priority, institutionalized as Executive Order 292 that affirmed the “AUTOMATIC APPROPRIATION” of the full amount to service debt from the budget of the Philippine Government that was originally mandated by former Pres. Marcos Presidential Decree 1177 as IMPOSED, DEMANDED AND CONDITIONED BY the creditors – THE IMF AND WB in 1980’s as“national economic priority” on top of basic priorities for the Filipino people.

    THE PERNICIOUS CULTURE OF INDEBTEDNESS AND USURY IS UNSUSTAINABLE. Philippine Government is in the dungeon of corruptions where science of corruptions is applicable, fueled by profligate spending for projects tainted with scams, continuous borrowings with corresponding increase of taxes for the same vicious cycles. All these are the fruits of the banking system scams of the fractional reserve prevailing in the world economy. PEOPLE’S MONEY IS ADROITLY GAMBLED BY THE BANKING SYSTEM – passing through a PARASITIC AND AVARICIOUS INTERMEDIARIES.

    We’re in the complete madness and disarray! The people are in calamitous situations without respite, would be continually CRUSHED to the ground with increasing taxes to be imposed as one of the harsh conditions of the International bankers. LOAN WILL BE MADE UPON LOAN forever, worse than being hog-tied to debt money system.

    Moral madness within banking system industry, the unbridled market forces and speculative gambling, usurious and criminal financial operations, continuous monopoly of credit, manipulations of the banking/financial/economic criminals/global manipulators, intimidations of the powerful few, brainwashing and indoctrination of peoples through the “core tactical nostrums of false education and media communications, mind-control, scam and racketeering, IMF-WB-Machiavellian – Voodoo Economics & Politics, Economic Warfare, Economic Shock Therapy and all other methods of control CONTINUE CALAMITOUSLY.

    THE TERRIBLE DEPRIVATION AND SUFFERING WHICH THIS BRINGS UPON THE FILIPINO PEOPLE IS A HARD CORE EVIL ENOUGH IN ITSELF. IMF and WB and bunch of financiers and economists sitting in judgment, aristocracy and deciding its priorities for further loans at interests and have therefore compounded the problems by more stringent conditions.

    Disaster after disaster. The worse disaster is debt-based financial system that manipulates and makes profits from all sorts of chaos, instability and planned calamities and miseries.

    DON’T PAY THE IMF AND WB AND FOREIGN BANKERS in 2012 IN TIMES OF CALAMITIES in the Philippines .

    WHY PAY THE DAMNED BANKERS WHEN WE ARE ALREADY IN THE HUGE CARNAGE OF CALAMITIES, HUNGER AND POVERTY? They have taken more than too much from us like sucking off our wealth and resources by debt money system. Let the corrupt government officials pay the Government’s huge debts.

    That’s all bullshit to pay all the money to the bankers and even bail-them out.

    Do we need God’s intervention right now? On the part of the Government, the peoples must demand for the cancellation of debts, and create the money debt and distribute to all citizens particularly urgent to the poor and the needy.

    If anyone who has surplus of money can help the poor and the needy with or without calamities directly without passing through the government and the churches. “Cast thy bread upon the running waters: for after a long time thou shalt
    find it again.” – Ecclus. 11:1

    “To give away money is an easy matter and in any man’s power. But to decide virtuously who to give it to, the amount to give, when, how, and for what purpose is neither in every man’s power, nor an easy matter.” – Aristotle

    Therefore, under the present grave circumstances, where the poor desperately need overseas aid usually “too small”, “too little” for life survival out of calamities, and or livelihood projects, then donors among individuals and families, could consider sending aid, in whatever form, direct to the poor and the needy, direct to the victims of calamities, of course, still with necessary clearance and verification and monitoring, “without it passing through” the hands of corrupt government officials, of the greedy bankers, of the financial-banking institutions, of the aid agencies-that only fatten their wages and salaries and privileges, without passing through churches that are not sensible to the poor and the needy except by preaching, without passing through foundations and organizations directly and indirectly related or connected with the government leaders and politicians.

    Eric V. Encina

  • Eric V. Encina

    NOT ONLY DIFFICULT BUT DEADLY TO MILLIONS OF PEOPLES ACROSS THE PLANET BY DESIGN.

  • Eric V. Encina

    New Year Or A New Life In A New World?

    By Eric V. Encina

    New Year Gives Nothing! What’s happy in New Year of the same And decaying things?

    There’s no such thing as Happy New Year! What we need is NEW LIFE IN A NEW WORLD!

  • Eric V. Encina

    CAN THE CATHOLIC CHURCH HELP AVERT THE FINANCIAL-CRISIS IN 2012 IN THE WORLD?

    MY PROPOSAL FOR THE CATHOLIC CHURCH TO SAVE MILLIONS OF POOR, HUNGRY AND DYING CATHOLICS IN THE WHOLE WORLD IN 2012

    God created all the earthly goods for all men, for all His children without exception. God owns the whole rich universe, all wealth in the universe, the Heavenly Bodies and the Heavenly Kingdom. He owns all creatures. And therefore we must wholly restore all things to God. We must restore all things in Christ to God. Earthly goods are intended by God’s will and providence, for all, and not for the rich, tycoons, powerful, influential, multinational corporations, financiers, bankers and governments. All wealth must be for all. This is the will of God.

    In His Divine Providence, I propose that in order to help keep the Catholic Faith, help save the Church from the present crisis, save millions of poor, hungry, sick, the innocent and poor children and poverty-stricken families, and disease-stricken Catholic faithful in the world: THE CATHOLIC NATIONS MUST BE UNITED JUST LIKE EUROPEAN UNION under the DIVINE AUTHORITY OF THE ROMAN CATHOLIC CHURCH headed by the Pope.

    The union of all Catholic Nations is absolutely important and a pre-condition to solve monetary problems of the Catholic citizens and families in the world. THE CATHOLIC CHURCH through its base in the VATICAN MUST CREATE ITS OWN CATHOLIC SUPPLEMENTARY FINANCIAL CREDIT OR CATHOLIC CURRENCY OR MONEY DEBT AND INTEREST FREE for all Catholic nations and populations, and this money or this Catholic currency shall be CASHABLE to any Catholic Nation(s) and shall exist alongside with the existing governments’ currencies in the whole world. This Catholic Currency shall also be convertible to any currencies all over the world by established mechanism of monetary exchanges. By the global vast wealth of the Church including one billion Catholic population of mostly laypeople, her powerful authority in most Catholic nations, the Pontifical Authority with Divine Protection and Power, the collegial authority and power of the Bishops, it has the POWER to create its own money. Our Blessed Lord Jesus Christ said to Simon Peter:…”I will give you the keys of the Kingdom of Heaven, and whatever you bind on earth shall be bound in Heaven, and whatever you loose on earth shall be loosed in Heaven.” (Mt. 16:18). “Feed my lambs…Feed my sheep…” (John 21:15-17). If the Pope will allow this Catholic Church currency to exist, it will not go against any of the Catholic teachings, will not go against the Holy Bible, will not go against the teachings of the Saints, and will not against the messages of Jesus and Mary to most of their apparitions all over the world. This proposal is inspired by God as a way to save the crying poor Catholic populations in the world.

    By this Catholic Church Currency, it can tremendously save the Church from being manipulated by evil of money power, of the deceptions of the commercial and international banking system and institutions, wickedly Masonic and Illuminati-based multinational corporations and tycoons. Hence, Catholic Church currency can save millions of poor Catholic families and children in dire poverty, can help keep the Catholic Faith, can help spread and develop the Catholic teachings, can reach out many converts, can greatly help in the mission and new evangelization by building more church-buildings, chapels, and establishing more parishes and dioceses, seminaries and recruiting more young peoples to priesthood and nunnery and by encouraging religious life in diverse missions among the laypeople. Catholic Church Currency can help build houses for several millions of homeless Catholics all over the world. With the financial security provided by the Church through Catholic Church currency, it can help foster devotions, can save and promote life, family and promote justice, charity and solidarity among peoples, families and nations. It can save souls, can save many millions of UNBORN CHILDREN FROM THE HECATOMB OF ABORTION, can save millions of poor pregnant mothers from the threat of the culture of death, poverty and financial injustice and can help build the real Catholic families with authentic God’s grace.

    Catholic Church currency can be used as a means to bring salvation and sanctification to billions of souls in danger of eternal damnation because of the poison of money, and of the present wicked economic system. There will be innumerable blessings and graces possible to bestow from Heaven if there will be Catholic Church debt and interest free created currency or money, that is, if the Pope and the Cardinals will heed this inspiration from God. THERE WILL BE PEACE, HARMONY, JUSTICE , SOLIDARITY AND LOVE TO ALL NATIONS. THIS WILL BE UNDER THE PATRONAGE OF JESUS, KING OF ALL NATIONS. Our Blessed Lord wants to unite all nations especially the union of all Catholic Nations under his Kingship, as Jesus, King of all Nations wants to triumph so that graces will tremendously flow down to all Catholic and Christian faithful to the fullest in the new civilization in the 21st century.

    This divinely-inspired and urgent proposal to Catholic Church to solve hunger, poverty and economic injustice-afflicting the poor Catholic populations must be make known in the 21st century before billions of souls go to hell because of the wicked economic field.

    Please urgently pray and support this proposal if you are with God. We must prepare the complete texts of this proposal and then send to Holy Father Pope Benedict XVI in the Vatican, to all Cardinals, Archbishops, Bishops, priests, nuns, seminarians, copies to be sent to all Catholic missions, seminaries, convents, institutions, nations and to all concerned. This is a heavenly solution to hunger, poverty, injustice, violence, crimes, and terrorism and even war in the world because of the unjust money power.

    Please help further to write clearly about this matter in a form of thesis in a year time which I hope will be a success with God’s help and will.

    THIS IS THE ONLY WAY FOR THE CATHOLIC CHURCH TO ADDRESS THE CHRONIC SHORTAGE OR ABSENCE OF MONEY FOR THE CATHOLIC MISSION AND FOR THE HUNGRY AND DYING CATHOLIC CITIZENS IN THE WORLD. With the Church created interest and debt free money, the Catholic Church can/shall give monthly or annual financial credit or dividend or supplementary basic income to all Catholic citizens in the world as a share of the abundance of God’s providence, blessings and graces and God’s wealth of the earth, and to be distributed by the Catholic Church of the Union of all Catholic Nations via the Catholic Church Archdioceses, Dioceses, parishes and chapels in the world. The Catholic Church Currency shall be called Catholic Credit or “CC” or Catholic Faith Money or “CFM” or any appropriate term for different values, equivalents and denominations.

    Once it will be known to the Pope and Cardinals in Rome and be make known to all Church officials, Bishops and priests and laypeople, and after the series of meetings or doctrinal, pastoral and economic councils, etc. they will be the one to implement the Church Currency as the only solution to solve the problems of ‘DAILY BREAD’ of the poor Catholic citizens. In this age of global plenty, money is the only lacking that should have been satisfactorily provided by the governments of the world to their citizens. But the governments now are corrupt, immoral and dysfunctional to address the problem and therefore cannot be reliable. (I will present to the Pope someday at least 50 to 100 pages explanation why the Church must now create her own currency for the Catholic World. That is, if I can get any grant/donation for further study and research).

    This is an extraordinary and huge task from Heaven for me to make it known. Please help me. And for this reason, I am also looking for HELP to make it known. Please believe me this is the only solution given by Heaven to solve the problems, not only of hunger, shortage of money and poverty but above all to help address the crisis of Faith and morality in relation to money problems.

    UNDER THE PRESENT MONEY SYSTEM OF THE DEVIL, MANY NATIONS OR GOVERNMENTS AND CITIZENS ARE UNDER THE POWER OF DARKNESS. That’s why in His Divine Providence, He has enlightened us to tell it to the Pope in Rome as early as possible in 2012.

    Eric V. Encina
    Philippines

    • M. Hapney

      Someone really needs to do their homework. Pick up some Jordan Maxwell tapes/books and get crackin’.

  • joe

    We just hosted a fairly large party on New Year’s Eve for our neighborhood. It is an affluent group consisting of well off retired folks and those younger with second homes. What is significant is that the topic of conversation throughout the night was the inevitable economic collapse. One woman told my wife “here I am in my 60s and we are preparing to grab our guns and go bags and hide in the woods”. There were discussion of falling trees to block the only access road and setting fall back perimeters. From the other discussions, I gather most if not all have stored food, guns and ammo. I could go on but when this is an acceptable discussion at a New Year’s event, it shows the general level of concern (not panic since most are preparing) and I cannot believe it is limited to our area. I think we all believe 2012 will be worse. I am just hoping it won’t be as bad as I think it will be.

    • Rancher

      They will die. Living in the woods will ensure that.

      Go to preppergroups.com and try to hook up with others.

  • Snuffy

    I don’t get it:

    Why do any crowds bother to appear for the celebration at Times Square in NYC, each New Year’s Eve? What in god’s name are they celebrating???

    For several years now, all I’ve been able to think is “Happy New Year! A new year of death, doom & destruction.” Watching any of the propaganda source ABC, with their “Rockin’ New Year” celebration is for me, an exercise in morbid curiosity. Especially with Dick Clark, who ABC would probably put out there, even if they could figure out a way to keep his disembodied brain alive in a glass jar.

    It reminds me of the movie, “Beneath the Planet of the Apes,” near the end of the movie, when the mutants were praying to a nuclear missile. James Franciscus tells Charleton Heston, “Those fools…they don’t know what they’ve got…they pray to the damn thing!

    Let’s see…overdue collapse of a global debt-based currency system, Peak Oil and climate change. Happy New Year!!!

    • knightowl77

      “Let’s see…overdue collapse of a global debt-based currency system, Peak Oil and climate change. Happy New Year!!!”

      Don’t believe in peak oil or man-made climate change….global financial collapse is another matter…

      • Gay Veteran

        We have already had peak oil in America!

        Climate change deniers are like those shills who said tobacco didn’t cause cancer, heart disease, etc.

  • Merula

    What does an 18 year old know about the real world. Seriously. lol

  • Kw

    Michael
    God Bless you and your family. You do such good work and I have turned many on to your site. Everyone loves your fact-filled articles
    Take care

    • Michael

      Kw:

      Thank you for that.

      And I want to send out a blessing to everyone that reads these words. May this year be the most blessed year that you have ever had.

      Michael

      • Deborah

        Michael, I wish you a very happy new year as well. I am so happy that I found your sites in my search for the truth. Thanks to you, I think my family and I will have a positive year because we are stepping out of the mainstream and into the light! God bless you.

  • karen

    Europe’s banks are the oldest and largest in the world and they are connected to all banks in the world when Europes goes so does all banks even credit unions. Gerald Celente says after the new year shortly there of and economic martial law will come into effect, get ready.

    • BenjiK

      BO and company have already laid the groundwork preparing for a catastrophic event that may indeed include martial law by signing the NDAA bill on the last day of 2011. I think very few people realize how serious this…….

  • M

    Honestly, I’m not sure why all the discussion about Europe. While clearly important, a Euro collapse isn’t necessary for things here to fall apart. It fascinates me how distracted we can be. Sit down with a map of the world. Start with the Middle East and pin areas that are literally burning with unrest and turmoil. See who is surrounded? We are already danger-close to the edge of a cliff. At this stage, it will only take a single event to send us over the edge. It’s looking like that event may be oil. Either real, or the possibility of “disruption”. Only one way life continues as many have known it throughout the upcoming year. Printing. Lots and lots of printing.

    • Michael

      You will see later this year why I have been talking about Europe so much.

      Michael

      • M

        Wasn’t speaking about you specifically, Michael. More media in general. Seems everyone wants to speak only of the seriousness of the situation elsewhere, while ignoring how bad things are RIGHT HERE. You do a very nice job covering the gamut, and I commend you for trying to reach and inform as many as possible. I believe that may be all we have left…

    • Tom

      Print, print and print some more- please! I’m not ready yet, I need a little more time (had a lot of unexpected expenses this last year).

  • Ameen

    Absolutely frightening, and absolutely going to happen regardless of ANY efforts to paper things over! (PS: Michael: not wanting to nitpick but the head of the IMF is female, first name ChristiNE…)

    • Michael

      Yes you are right.

      I thought that I had that right in the article, but somehow “Christian” got published instead of “Christine”.

      Oh well – it is things like this that keep me humble. :(

      Michael

  • denny

    As far as I can tell most people are avoiding the most obvious reality of not only the past year, but the past decade. Capitalism is now an anachronism. It is dead. I am not a Marxist, socialist or any other ‘ist’, simply an objective observer who understands from what I see what’s working and what’s not. The elites understand that capitalism as practiced historically in this nation is inapplicable now. They made it this way. That’s why they are engaging in the most egregious schemes to accumulate what wealth still remains. Jon Corzine anyone? They control not only the means of looting our wealth, but the media necessary to redirect our attention to other seemingly important ‘issues’. All and I mean ALL of their convoluted ‘explanations’ concerning the world of finance are simply created to keep us confused and vaguely hopeful that the capitalist system still works. Most of the decent people intimately involved in the finance system now understand that the tipping point has been passed and that if you’re NOT engaged in illegal and furtive activities to ‘Get Some’ then you will most certainly be left in the dust. The system does not work anymore for the larger majority of US. Corzine is simply the teeniest tip of the iceberg. A simple question – where can a trusting person put their money, assets, wealth anymore? There are answers, but they involve radical diversions from what have been traditionally safe options for almost all Americans. These answers involve the human virtues of trust, compassion, yeah, LOVE, accommodation (as in stepping up to create alternatives to the world that these madmen have created for us), fortitude, honesty, respect for life, all life. They want it all and will do ANYTHING to get it. Now they are preparing to kill Iranians and there is more than a good chance that nuclear weapons will be involved. These radical authoritarians are, indeed, insane and the defining danger of their madness is that they ultimately hold our lives in their hands. Want to affect it? I do and I know I will have to seriously, very seriously change my life and accept the truth that if I want sanity to return to earth then I will have to be prepared to make some sacrifices. BIG SACRIFICES. I hate having to involve myself in this kind of truth, reality, whatever, write about it, discuss it. It sounds kind of hopeless, but a day(s) of reckoning is(are) approaching and the maniacs soldier on into the jaws of certain destruction, a destruction which will involve ALL of us. This will become a pivotal year, a make or break time which will either lead to an ongoing darkness or the first shreds of light. Good fortune in the new year!

  • mondobeyondo

    The Federal Reserve may once again end up being the “bail-outer” of last resort. Those guys are very good at bailing out everyone except the middle class.

    They’ve bailed out banks, home mortgage companies and American auto industries in the past. Why not whole countries and continents? Just print up a few more trillion dollars, loan it to the ECB at super low interest (how about, say, close to zero percent?) – and have Germany bail out the eurozone? You can never have too much quantitative easing, right? (Oh, yes you can!!) And you really believe that Europe would ever pay us back if we loaned them cash? Naaah. A snowball’s chance in the Eternal Inferno.

    We’d be screwed here in the U.S. if that happens, because there would be even MORE dollars created out of thin air by the Fed, and hyperinflation would be all but guaranteed. But we’re pretty much doomed anyway in the long run.

  • NK

    Great blog thank you!
    Just one comment about Hungary: it’s not all that great, their government is semi-totalitarian. Last year they “temporarily” borrowed EUR11bn from private pension funds.

  • Lennie Pike

    Economic conditions do tend to be a little difficult when there is no rule of law.

    When Goldman Sachs etc. can create investments that are designed to intentionally steal from their customers, when Mofo Global can steal all of the money from their customer’s accounts, when the Federal Reserve can print tens of trillions of Dollars to give to certain individuals and to bailout their own American and European Banks at the expense of the American Tax Payer (inflation tax), etc., etc., etc., and no one goes to jail, then there is no rule of law and any discussion of anything economic is pointless.

    Any discussion of what Congress should do to fix the economy, or any other discussion of what the solutions to fixing the economy should be are like saying to the thieves that are in the process of hauling all of your possessions out your front door – “are you using your legs and not your back when you lift that? I don’t want anyone injuring themselves on my property and being sued.”

    It is going to require physical action by the Patriots in the U.S. Military to bring back the rule of law – The United States Constitution, and I think they will do it.

  • 007

    It should be quite a show in 2012. Being an election year Obama and Bernanke will pull out every stop to keep the economy from collapsing . I wonder if he will be able to keep juggling all of the ball in the air until the election.

  • Kat

    Hi there, Michael. I am editing a book that will be published this year, and I wish to contact you regarding reprinting one of your blog posts in the book. I am unable to figure out how else to contact you, so I’m leaving this reply here. If you could please email me, I will give you all of the details and permissions form, etc. Thanks!

    • Michael

      Kat:

      I will soon be posting this on the Contact Page (when I have time to redo it), but there is a new email address for people to contact me at this year….

      TheEconomicCollapseBlog (at) hotmail (dot) com

      I do get so much email though that sometimes it takes me a while to get back to folks.

      Michael

  • Lennie Pike

    Sooner or later the U.S. Military will take back our country for We The People. They will head to Washington D.C. and Wall Street and begin to make arrests of those guilty of treason – those who have disregarded their oath to uphold the U.S. Constitution – those who have either broken or failed to enforce the law for their own gain, or for the intention of destroying the U.S.A. to create a one world government – their primary objective.

    A good analogy of how it will go down is the last scene of the Burt Reynolds movie “The Longest Yard” (watching it on YouTube will better than this recollection) – when the Warden played by Eddie Arnold (TPTB) orders his chief prison guard (The U.S. Military) to shoot Burt Reynolds (We The People) in the back after his team won the game. How we will win the game, I am not sure – but it will happen somehow. The prison guard will not shoot, TPTB will leave the U.S. (probably to China) and that is when the U.S. will be in real (not manufactured) danger of attack.

    It’s better to die free than live or die as a slave.

  • M. Hapney

    As far a being sick of waiting, you might want to re-think that my friend.

    I hear that a lot. People saying that they wish the collapse would just happen so we can start on the path to recovery.

    Well, to be blunt, when the collapse happens it will be unlike anything the modern world has seen.
    A clamped down totalitarian police state. People starving and dying all around you; even people you care about but cannot help.

    It will make the Great Depression look like a spring day.

    Any rational person knows we are caught in a trap. Nothing will be better. Don’t hope for the collapse though. It would be better if the Ponzi economy, propped up by people’s fake beliefs, lasts as long as possible.

    There will be no recovery for the US once it starts, it will be a ride into the abyss.

    Planet of the Apes here we come – but hopefully it won’t be tomorrow or the next day ….

    • lil ol me

      This is exactly how I feel. Don’t wish this to hurry up and collape–for once it does, it will be the point of no return. Suffering like you’ve never seen before. Your neighbors, friends, family. Up close and personal. I live in Southern MN…grew up in Rochester. I know the burbs in Mpls are living a different reality but you will not be sheltered from it forever. Compared to most of the world, we live in a bubble and MN with the Mall of America…well, you saw what happened there a short time ago. A melee of hundereds. Be thankful every single day for three squares, the quietness of your burb and a roof over your head. You don’t know what tomorrow brings.

  • http://HomelessMovie.org Prepared Pastor

    It matters to me not how much money I have or even if I have a job, but that I can provide my family with a warm home and food to eat. Neither of things require much money for those who know how to work their land without attracting attention.

    In service to others, I am leveraging what I learned from my grandfather who lived on a farm during The Great Depression with my own experience as a wilderness survival instructor to produce How to Be Homeless in America.

  • Gary2

    Here is a link refuting all the videos people link to showing how taxing the rich will not solve anything. They are of course wrong as usual. Nothing new about conservatives being wrong…

    Given the Right’s recent lurch toward Ayn Rand-style Objectivism, it seems that an intelligent journalist would put the following facts together:

    80% of Americans own only 7% of America’s wealth.

    The new mainstream in conservatism maintains that the poor are only poor because of laziness and lack of initiative.

    It’s not exactly a leap in logic to point out that mainstream conservatism now maintains that 80% of Americans are simply ungrateful, lazy bastards who need tough love to do better.

    In that context, trying to get rid of Social Security and Medicare makes sense for them. But shouldn’t someone start asking, then, why conservatives have such contempt for the vast majority of Americans, and their work ethic? It’s not a hard question to ask. The politics of it may be controversial, but the logic isn’t.

    Budgeting for poverty.

    http://www.youtube.com/watch?feature=player_embedded&v=0YYG-f3qYE8

    • Malcolm reynolds

      ********************** you’re dumb.

      • gary2

        another well thought right wing reply. Thanks you make my point. Keep posting!

  • M. Hapney

    Isolation will not be much better then living in a city, according to a lot of experts.

    Typically, in a brutal collapse, rural homesteads are targeted for what they offer. Gardens, crops, water, etc. Historically, under such situations, people have been robbed, raped and tortured for long periods of time.

    Better invest in lead to go along with those seeds.

    • mondobeyondo

      Hard to say whether the countryside will be better than an urban area when the economy falls apart. It will be rough everywhere. The cities will be horrible, but desperate people do desperate things, and these folks will automatically assume a country cabin or house in the woods would be very well stocked. Lots of food, water, and land to grow crops and stuff. City people aren’t dumb, and they’ll know where to look.

      Make sure you’re well stocked on ammo.

  • BQT

    Michael,

    Your blog is great! Keep up the good work.

    The more I read, the more I feel like the decision to put the gun in my mouth will work out great for America.

    I have conducted my life and guided my family like the rest of the American sheeple for the past 20 years and still owe my ass to the SYSTEM…

    10-12 hr days with a 2 hr commute(for the past 9 yrs) to make enough money to provide for my family isn’t eff-ing right for someone with an MBA and a conscience. If you don’t cheat, lie or steal, the system just crushes you into oblivion.

    Well, by golly (and morality aside), if there is only one thing that I still control, its my decision to end my miserable existence on my terms!! Forget retirement and old age. I still have 23 yrs left on my underwater mortgage (thru no fault of my own).

    I don’t feel sorry for myself and I could go down taking a few other with me but I would never do that because I’m a sheep…or a lemming flying free..GERONIMO!!

    (But remember, it’s not the jump that kills you. It’s the sudden stop at the bottom…)

    • Michael

      BQT:

      If you give up, you lose and the enemy wins.

      Yes, things are hard right now for so many people.

      But you must never, ever, ever give up.

      As long as you are reaching out to God, there is always hope.

      Many people that come to this site have been facing moments in their own lives that seemed totally hopeless.

      But there is always a way to turn things around.

      The quality of our lives is not determined by how much stuff we have or by how much money we have in the bank.

      Don’t be stupid.

      If you give up now, you lose everything.

      But if you keep on fighting, the greatest part of your life can still be ahead.

      In fact, a future could be in store for you that is far greater than you could ever imagine.

      But if you are a coward and you give up you lose everything.

      Michael

    • mondobeyondo

      Don’t do that. Please, don’t do that. It would NOT be a good move.

    • Kris

      BQT:

      The enemy is the devil. He wants you to give up. He is very real.

      But Christ has a diffent path for you. He gave up His life for you, even though you didn’t know Him, so that you can repent and be forgiven. Christ did this for you, it is a free gift. He cares for you.

      You are not alone…I too and many others do not have any value in our homes or a penny to our names. It doesn’t matter. This life is a vapor but eternity is forever. Store up your treasures in heaven.

      Peace.

      • BQT

        Christ is telling me that my life insurance will payoff my mortgage and keep my kids fed until they are 18 and can fend for themselves…

        • Save the Republic

          BQT,

          Money isn’t everything. Who will be there to protect your kids when you’re gone and things really collapse? People who are desperate may come looking for someone vulnerable to attack and your family will be an easy target without you. Now is the time for you and your family to get really tight. It is now time for you to truly get to know Jesus and lead your family to Him. God sent Him to earth to pay the price for our sins. If we just believe in Him and repent and follow Him, we will be saved from eternal torment. If you think things are bad now, this is only temporary, and nothing compared to the suffering in hell you will receive if you don’t know Him. And if you’re not around to lead your family to Him, they might wind up there. Pick up a bible and get to really know Him. There seems to be concensus that John is a great place to start if you’ve never read the bible before. During these times, you also need to let go of the status quo of materialism. Cherish spending time with family and friends, learn new things, cut down your expenses and be as frugal as possible. I haven’t had t.v. service for 2 1/2 years. We now use the library and borrow dvd’s. Why buy books, the library has plenty. My cars are beat up, but they are paid for, and I repair them myself. Sure, a lot of people look at you funny when you say, “I don’t have a cell phone” or “I don’t have t.v.”, but it’s good to know you don’t have to worry about the extra expenses. I don’t know you’re situation, but you may be able to get help with your mortgage through http://www.makinghomeafforable.gov (the government mortgage modification program). It tacked a few years onto my mortgage, but it lowered my monthly payment significantly, and my interest rate is at 2%, going to 4% after 5 years. Without that, we would surely have lost our home. Things are still tough, and we seem to live from one crisis to the next, but what else can I do, quit on my family when they will be needing me most and kill myself?

          I would suggest you take some time to pull out some toys or board games and play with your kids for awhile, then start reading John and ask the Lord for His help. You may be surprised at how different you look at things after doing this for a week.

        • nowwthen

          Christ would never tell you that. Those thoughts are inspired by the one sitting on your other shoulder. Hang in and keep plugging. You’ve already proven you have the stuff to keep it together even under the duress you’ve described. Things can always change for the better.

        • Kris

          No he is not.

          He doesn’t run on money, nor does he need to. He can help you and your family.

          Your children need you. When the money runs out, do you want them to follow in your footsteps and do the same? No!

          Turn to God and talk to your family to do the same and be a rock for them.

          We are weak and in our own power can do nothing, but all things are possible through Christ who strengthens us.

        • uncurable wound

          Your children dont need insurance,they need their Dad…
          I do not come to bow,I come to Conquer!!

          We need you brother,you are whats right in this world-Fight the good fight!!!

        • mondobeyondo

          That’s not Christ who’s telling you that. Christ came into the world so that the world would have life, and more abundantly. The devil’s only purpose is to destroy and tear down.

          • LogicalConclusion

            You believe that Jesus is God, no? God created the Devil. Where does the blame fall?

      • Lennie Pike

        Exactly

    • r.bitting

      For God so loved the world that he gave his only begotten Son, that whosoever believes in him shall not perish but have everlasting life.

    • Jeremy

      I understand a bit how you feel, but know one thing: there are a lot of people who think, or have thought, like you.

      Let that sink in for a moment.

  • Milou

    “But something has to be done about Greece.  Right now the IMF is projecting that Greek debt will reach 200% of GDP at some point in 2012 if changes are not made.”

    Good evening. I am french, and i live in France and we have the same opinion about The American economy ! Where is the truth ? And What do you think about this (it does not concern US directly) :
    http://www.gestionsuisse.com/2012/la-grande-bretagne-ne-sera-pas-epargnee/

    Somebody is wrong ! Who ?

  • knightowl77

    Michael,

    Did you see the hour long video yesterday on the ESF posted over at Zero Hedge? Worth the look….

    http://www.zerohedge.com/news/presenting-exchange-stabilization-fund-5-parts-real-plunge-protection-team

    Interesting & lots of research

    • Michael

      Interesting – hopefully a lot of people will go check that out.

      Michael

  • Lennie Pike

    One huge reason that the can is being kicked down the road, is to allow enough time for enough members of China’s Red Army to immigrate to the U.S.. Look around, notice a huge increase in the number of Chinese people of fighting age only? They will not be in uniform.

    An American population armed to the teeth with small arms willing to defend their freedom is the biggest problem facing the nwo perfect prison.

  • http://economic a.p.

    Just as our intelligent founders of America (Jefferson, Washington, Franklin, etc.) were put here by divine providence, so too will we be given Ron Paul as our next president. So everybody cheer up and get out the vote. It’s never over until it’s over and the re-birth of America is just beginning. Just as we were victorious against the British, we can be against the bankers trying to destroy us, provided we have the right General, General
    Paul that is.

    • mondobeyondo

      One would hope so. Third place in the Iowa caucus is pretty impressive.

      But it’s a long road ahead. New Hampshire, South Carolina, Super Tuesday, then getting the nomination, then beating Obama. Very intimidating.

      But look at what David did against Goliath with a few stones. There is still hope.

  • Helix

    Criminy! I never saw so many people getting so bent out of shape over the shape of some pixels on a computer screen.

    But then again, if one believes in the fiction, then it’s as good as real.

  • Insane

    Does anyone think its really going to made who gets elected. There are all the same for the most part. You have to look at what’s really going on and get off the Democrat and Republican stuff. Its all B.S.

  • DB200

    “Greece desperately needs relief from all of this debt, but the other nations in the eurozone do not want to provide that relief.”

    Of course not. The Greek governments cheated and lied to their fellow Europeans. They faked the numbers massively. The country is corrupt to the bone. More than 55% of all employees are officials (and most of the time parasites to the state). The rest is dodging tax as good as they can. They wasted a lot of loans and subsidies from Europe.

    For doing this, the thinking in Northern Europe goes, they should not receive debt relief but empty the goblet filled with bitterness completely. If Europe would let them off the hook, then they would not fully experience the consequences of their handling.

    Now that the party is over, the hangover.

  • DB200

    “The financial path that Europe is now on was criticized very harshly recently in the New York Times….”

    The article says more:
    “Despite criticism from many economists, though, most European governments are sticking to austerity plans, rejecting the Keynesian approach of economic stimulus favored by Washington after the financial crisis in 2008, in a bid to show investors they are serious about fiscal discipline.”

    I prefer austerity and deflation above QE and inflation. Europe is a bit more experienced on hyperinflation than the USA. And in terms of consequences, deflation is a pick-nick compared to hyperinflation. The USA may have the opportunity to find out this themselves in 5-10 years when they stay on this track of solving debt problems with taking on ever more debt. The Bernanke-option hasn’t worked the last 3 years, so why would it work for Europe?

  • Hosanna

    I have been tossing unwanted stuff from my house for the past few weeks and am really going at it now that the holidays are over. I can’t believe some of this junk! I used to shop for fun and now I stay home and tinker with my budget spreadsheet, thrilled for every day in which I get to put a 0 down as that is how much was spent.

    We are living off the stockpiling of food and other goods but when it runs out it will be peanut butter on toast instead of gourmet tomato sauce on organic whole grain pasta and frozen fish and meat.

    I went shopping for some new boots in November and every single pair (most of them over $200) came from China. I didn’t buy anything. I went to look at cookware and it all came from China so I am using what I already had.

    If this shift is occurring elsewhere and I believe it is there won’t be anybody buying anything pretty soon.

    • Save the Republic

      Great job! Starve the beast. I am trying to live the same way. If I don’t need it, don’t buy it. Trying to find American made or used from yard sales and such. Them $200 boots may have been worth it when they were made in America, and quality made. I bet the company selling them is probably paying less than $20 to the Chinese for them and pocketing the rest as “profit”. Then they’ll tell the world how their stock is going up because of an increase in “profits” (a.k.a. using slave labor and pocketing the exorbitant difference in price).

  • quasar

    They are not all as ignorant than you might think. You were once 18 as well. Be a little more understanding next time, merula.

  • Mekhled Almutairi

    I believe the key of the problem is the dollar since no gold cover so increasing of crude oil help the us dollar and decreasing the euro

  • weycks

    im currently attending college and i have this strange feeling that its pointless. I would love to hear some opinions of any sort from any person.

    • Tammy

      going to college is never pointless.

    • roger

      Weycks:

      Everything that is happening in our world today was predicted over two thousand years ago. Time truly is running out for America and the rest of the world.

      The ONLY hope for all of us is Jesus. If you truly study biblical prophecy in detail, you will see that the scriptures written 2000 years ago are more up to date than next weeks news.

      So the best advice i can give you is to turn your life over to Christ, and ask for his complete forgiveness. Ask him into your heart before it is too late.

      We are headed for a one world government, one world religion, and a one world monetary system. Its all in the scriptures.

      So please surrender your life to Jesus while there is still time. HE TRULY IS THE BEST NEWS FOR OUR TIME IN HISTORY.

      If you would like to chat further, then giev me a ring at……RLWJ316@ATT.NET

  • http://HTML Bigbill

    The dollar an euro have been going down because out of control spending this will not stop buy gold an silver have 6 months of food good luck.

  • john

    GOD HELP US !

  • Suzanne

    God we need your help I really wanna make it through life.
    My sisters aren’t acting the way they are suppose people are going crazy.
    Yes there is only one world but yes you created the world.
    I rather risk my life to survive for people who still care about me.
    Not enough money for rent, clothes, food, going to college, and and even getting a car.

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