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Oh Crud! 19 Reasons Why It Is Time To Start Freaking Out About The Global Economy

Yes, it is officially time to start freaking out about the global economy.  The European financial system is falling apart and it is going to go down hard.  If Europe was going to be saved it would have happened by now.  The big money insiders have already pulled their funds from vulnerable positions and they are ready to ride the coming chaos out.   Over the next few months the slow motion train wreck currently unfolding in Europe will continue to play out and things will likely really start really heating up in the fall once summer vacations are over.  Most Americans greatly underestimate how much Europe can affect the global economy.  Europe actually has a larger population than the United States does.  Europe also has a significantly larger economy and a much larger banking system.  The world is more interconnected today than ever before, and a collapse of the financial system in Europe will cause a massive global recession.  Once the global economy slides into another major recession, it is going to take years to recover.  The pain is going to be immense.  Yes, that is going to include the United States.  Sadly, we never recovered from the last recession, and it is frightening to think about how much farther this next recession is going to knock us down.

The big problem is that there is simply way, way, way too much debt in the United States and Europe.  It has been a lot of fun spending all of this borrowed money, but now we get to pay the price.

The following are 19 reasons why it is time to start freaking out about the global economy….

#1 The yield on 10 year Italian bonds has now risen to more than 6 percent.

#2 The yield on 10 year Spanish bonds has now risen to more than 7 percent.  This is considered to be an unsustainable level.

#3 Citigroup Chief Economist Willem Buiter says that both Italy and Spain are going to need major bailouts.

#4 The Spanish banking crisis continues to get worse.  The following is from a CNN article that was posted on Monday….

But the depth of the nation’s crisis has raised doubts about whether €100 billion will be enough to recapitalize the banks. For example, the Bank of Spain, the nation’s central bank, released data Monday showing that “doubtful” loans — those that are more than 3 months overdue — rose to €152.7 billion in April, equal to 8.7% of all the loans held by the nation’s banks.

#5 Unemployment in Spain is sitting at a record high of over 24 percent with no hope in sight.

#6 Unemployment in the eurozone as a whole has hit a brand new all-time record high.

#7 The socialists won an outright majority in the recent parliamentary elections in France.  That means that France and Germany are now headed in completely different directions.  The close cooperation that we have seen between France and Germany in recent years is now over.

#8 New French President Francois Hollande has promised to implement a top tax rate of 75 percent on those making over 1 million euros a year.

#9 German Chancellor Angela Merkel has declared that Germany will not budge at all on the terms of the Greek bailout.

#10 Analysts at Citigroup Global Markets are projecting that the odds of Greece leaving the euro over the next 12 to 18 months are still between 50 and 75 percent.

#11 Money is being transferred from banks in southern Europe to banks in northern Europe at an astounding pace….

Financial advisers and private bankers whose clients have accounts too large to be covered by a Europe-wide guarantee on deposits up to 100,000 euros ($125,000), are reporting a “bank run by wire transfer” that has picked up during May.

Much of this money has headed north to banks in London, Frankfurt and Geneva, financial advisers say.

“It’s been an ongoing process but it certainly picked up pace a couple of weeks ago We believe there is a continuous 2-3 year bank run by wire transfer,” said Lorne Baring, managing director at B Capital, a Geneva-based pan European wealth management firm.

#12 As I wrote about recently, about 500 million euros a day has been pulled out of Greek banks so far this month.

#13 The Bank for International Settlements is warning that global lending is contracting at the fastest rate that we have seen since the end of the last financial crisis.

#14 Lloyd’s of London has publicly admitted that it is making preparations for a collapse of the eurozone.

#15 Government debt levels all over the industrialized world have exploded in recent years.  The following is from a recent article by Stephen Lendman….

Five years ago, OECD countries sovereign debt/GDP ratios were 70%. Today it’s 106% and rising.

Anything over 100% is considered to be an extremely dangerous level.

#16 The economic problems in Europe are already taking a toll on the U.S. economy.  At this point U.S. exports to Europe are way down.

#17 One recent poll found that 75 percent of Americans are either “very or somewhat worried” that the U.S. economy is heading for another recession.

#18 Under Barack Obama, the United States has been indulging in a debt binge unlike anything ever seen in U.S. history.  The following is from a recent Forbes article….

After just one year of the Obama spending binge, federal spending had already rocketed to 25.2% of GDP, the highest in American history except for World War II.  That compares to 20.8% in 2008, and an average of 19.6% during Bush’s two terms.  The average during President Clinton’s two terms was 19.8%, and during the 60-plus years from World War II until 2008 — 19.7%.  Obama’s own fiscal 2013 budget released in February projects the average during the entire 4 years of the Obama Administration to come in at 24.4% in just a few months.  That budget shows federal spending increasing from $2.983 trillion in 2008 to an all time record $3.796 trillion in 2012, an increase of 27.3%.

Moreover, before Obama there had never been a deficit anywhere near $1 trillion.  The highest previously was $458 billion, or less than half a trillion, in 2008. The federal deficit for the last budget adopted by a Republican controlled Congress was $161 billion for fiscal year 2007.  But the budget deficits for Obama’s four years were reported in Obama’s own 2013 budget as $1.413 trillion for 2009, $1.293 trillion for 2010, $1.3 trillion for 2011, and $1.327 trillion for 2012, four years in a row of deficits of $1.3 trillion or more, the highest in world history.

#19 Barack Obama almost seems more focused on his golf game than on the problems the global economy is having.  He just finished up playing his 100th round of golf since he became president.

If you are looking for some kind of a global financial miracle you can stop watching.

If European leaders had a master plan to save Europe they would have shown it by now.

If Barack Obama had a master plan to fix things he would have implemented it by now.

If the Federal Reserve had a master plan to fix things we would have seen it by now.

The entire house of cards is starting to come down and things are going to get really messy.

A lot of people both in the United States and in Europe are going to lose their jobs and their homes over the next few years.

It is likely that the next recession will be even more painful than the last one was.

Now is not the time to panic.  If you acknowledge what is coming and prepare accordingly then you will likely be in good shape.

But if you stick your head in the sand and pretend that everything is going to be okay then the next few years will likely be incredibly painful for you.

  • AW Voll

    I have been reading this forum for quite some time and can appreciate what the author is conveying here. The writing is definitely on the wall. I believe NOW is the time to start offering substantive strategies and plans on – HOW – people can prepare for what is coming, instead of simply telling them to do so.

    • David G.

      The sad truth is that in a depression, where spending dries up, and where a lot of capital is diverted to paying off hugh debt (and believe me, the world has more debt right now than ever in its history) there are no winners. There is no safe place to put your money. No safe place to hide your family. No one goes unhurt. HOWEVER. There are some things you can do to hurt less and to place yourself in a position to thrive once the worst is past. There are vehicles for you savings like precious metals, commodities, and some very few stocks that will not get hammered as badly as other savings and will recover sooner. You should think about five “prepper” thing: Food, Water, Energy, Finances, and clothing. You can make sure you have a year or two supply of food. Freezed dried. Canned. Bottled. Dried. Fruits. Veggies. Meats. You can do it all and be prepared for supply disruptions or lack of food in general. You can store water. Do you have some cans of gas filled? Do you keep your car(s) above the half full level in case of a disruption in supply? Do you have alternative low-fuel transportation like a motor bike? Do you have an alternate way to heat and electrify your home? A wood stove? A natural gas electric generator hooked up to your home and ready to operate?

      • Madelynn Frazier

        Those are ALL great tips David G. I belong to a preparedness group and have been preparing for over a year now. A ham radio and solar power are two excellent high end prep tools. Solar with the right battery source can power a lot of things even a computer to access stored information.

        If people will prepare in the areas you’ve suggested, they’ll be much better able to survive the incredibly difficult times ahead. They need to stock up on garden seeds because if you don’t stock it or grow it you won’t be eating it. That’s just how it’s going to be, I’m afraid.

        USA Prepares has a Preparedness Exp here in Springfield, MO. every 6 months. The next one is the first weekend in Nov. and people come hundreds of miles to stock up and find new things plus hear free seminars on a whole range of preparedness. You can check out the USA Prepares.com website to find out about the expos. We had about 10,000 people each day thru the doors the last one in April.

        Everyone’s going to have to become self sufficient and better late than never.

        • coorsman2

          also converters are a good idea. only thing about that is you need a heavy duty battery with a small charger, I have from 6000watt to 500watt ready to go,Buy heavy duty marine batterys and hook them up in series, 2 will work well

      • Paul

        Nice tips.
        Here another one: super low fuel transport: bicycle, bicycle with trailer. google: china transport bicycle in images.

        And what’s the point of having lots of food, if your area is prone to flooding, hurricane or tornado?

        The point isn’t so much being self-sufficient, but to have enough capacity for storage, and have the store filled to a certain extent to survive disruptions – and have enough space left to store more from the harvest, so it doesn’t rot outside (like in India).

        The whole issue falls under sustainability, where especially the USA isn’t very good in, because sustainability is thought to destroy jobs or not create enough jobs.

        But if your economic model is sustainable, you can sustain your life style for many years.

        And that’s the idea.

    • David

      Very good point…I was thinking the same thing!

    • rancher

      Want to know how to prep and what to do? Start out by moving over to prepper sites which discuss such things. We have moved on past all the signs and wonders of these days into the arena of tangible prepping results. Try…
      preppergroups.com

      You will find ads from others looking to work together, even a very few well established prepper groups to learn from. Some have room left but you will need a lot of cash to outfit yourself and transform from being the victim in waiting you are now into an asset to other serious folks.

      Get many of the books, read them, take notes and educate yourself..it ain’t my job to teach you. Begin to understand where you now live will probably get you killed so relocation is a top concern….

      There are great forums with good tested and proven advise. But beware…the guys and gals there will not put up with whiners, entitlement disorder folks, pity party little minds and weal limp wristed wannabe preppers.

      Good luck…

    • http://www.whatreallyhappened.com Anon Patriot

      I TOTALLY AGREE with you. NOW, is the time to begin telling people how to get prepared: 1) WATER, vital, essential to LIFE – get a high-quality water purification/filtration system, and a way to collect, transport, & store water – 2) FOOD, another essential to LIFE – have 8 months to 1 year, of store-able, NON-GMO, ORGANIC FOOD, 3) MEDICINES, ASPIRIN, MULTI-VITAMINS – have an extra supply on-hand, to weather at least 1 YEAR, of economic collapse conditions, 4) Have a way to COOK your food – get a SMOKEY JOE Weber grill ($30), or a “ROCKET-STOVE” (http://www.rocketstove.org/), or, dig a ‘fire-pit’, place rocks around the edge, to contain the fire, use wood to burn, and put a metal grate over it! All you’d need, additionally, is cast-iron cookware, and a lighter, matches, or magnesium firestarter, or a magnifying glass, and sunlight! 5) PICK UP A GOOD BOOK ON EDIBLE PLANTS! 6) PERSONAL HYGIENE products – have an additional 1 year to 2 year supply on-hand, 7) FIRST AID KIT, 8) CLOTHING – DURABLE, LONG-LASTING, especially work boots, shoes, pants, shirts (buy Made in USA!), 9) SELF-DEFENSE, 10) PMs – SILVER & a little gold BULLION (coins, rounds, bars), 11) BARTER ITEMS – alcohol, liquor, cigarettes, chocolate – anything that you can think of, that you personally would want or need, or that others would want or need, and that may be in short supply, during a prolonged economic collapse. Hope the above information helps someone get prepared. Do it now!

      • http://www.whatreallyhappened.com Anon Patriot

        Remember, the CENTRAL BANKERS in the ‘City’ of London (London’s Financial District), WANT a global economic collapse. WHY? Because it gives them the reason, to step forward, and offer us their pre-planned “solution” – a ONE-WORLD CURRENCY, which, will simply give them MORE CONTROL over every living and non-living thing on the entire planet, AND, further enslave everyone on the planet with more DEBT. THAT IS THEIR PLAN. Prepare yourselves accordingly.

  • Rodster

    Michael I wish you had posted the Nigel Farrage video which explained why the entire Eurozone is headed for a collapse.

  • ScoutMotto

    Steven Quayle had a “red screen” up recently with a declaration from someone that the euro has collapsed, unofficially. The people of Europe are using the same banking system the US is using, that of fiat money and usury. Back in the early turn of the century, the euro was a darling to investors, threatening at the time to displace the Federal Reserve note. It’s crazy how some things turn out.

  • Helpusplease

    The world is going down the tubes and most people don’t even realize it!

  • McKinley Morganfield

    In Greece and elsewhere people are waiting to be rescued and cling to the desire for the continuance of the world as they know it. Unfortunately, happy days are not here again and may never be for at least 10-30 years. Personally, at age 64, I believe I will not live to see a real recovery, but I believe my children and grandchildren will survive and witness a rebirth.

    So when you see the crowd is moving in one direction turn 180, walk fast, and don’t look back. Make common cause, if possible, with family and neighbors. Prep everyday, even if its one can of beans and a pound bag of rice or pasta. Learn to grow food and how to preserve it. Learn how to hunt and prep game. As others have noted, leave metro areas if at all possible. The collapse will begin when it begins, until then prep, prep, and prep.

  • Steve

    Won’t be a ‘recession’. It will be total collapse. There is no way the world economy can function at any rate sufficient to support the world’s populations and civil unrest and major social breakdown would result. The huge bubbles supported only by massive continuous stimulus can only burst. The fabric of hte world economic bubble has been breached and the best that can happen from here on is managing a hard landing.

    • http://www.whatreallyhappened.com Anon Patriot

      Managing a ‘hard landing’ is exactly right – and, the best way to do this, individually, and as families, is to get prepared – now.

  • bobinsherwood

    If you want to freak out then Google Russia, China, Iran, and Syria together. Debka and Tehran News outlets are reporting that these 4 countries will hold joint military exercises possibly by the end of June in SYRIA! WTF!

    • lee

      Yep.

      This is the wild card IMO.

      I think Europe will keep putting band-aids on that will work until sometime in 2013, but if the mid-east blows; it’ll be before this October; and that’s just going to send the whole world down with it.

      All the economies barely hanging in will go into full blown depressions IMO as those that have been keeping them afloat will stop as they worry about keeping themselves afloat during a possible world war 3.

      • GaryToo

        i will second that, there is no intention to repay all the debt. state of emergency based on war, usa/nato biggest military = come and get what we owe chickens, it is a massive gamble.

    • Orange Jean

      gaaaa….. that sounds like a nightmare I had about a month ago! In the NIGHTMARE I was flying across country from VA to San Diego, when we had to land in New Mexico because Norfolk/Portsmouth(where I work) and DC got nuked by Russia – while simultaneously San Diego got nuked by China. And here I thought I was safe, since I did fly to San Diego & back without incident…

  • Paranoid

    Well yeah. So

  • tappedops

    GFC is one thing … but she looks like she just saw Rush in a speedo…

  • Cinderella Man

    Stick your head in the sand till you suffocate who cares? I dont I cant wait till my facebook crowd gets it really stuck to them! OOOHH I fed pancakes to my kid this morning!! I posted a funny picture!! Michael if you realized how retared the average person was why would you have any sympathay at all? You know most of them are mooks and they ignore the articles over my cat had 12 likes for eating a brussel sprout!!!! Im mad and Im sick. Im about to drop off and come back when im homeless again and tell you all what is really up!!!

    • Vanishing Act

      You talk about how retarded the average person is, but you can’t even spell it! I guess that proves your below average. Racism is another indicator. I’ve been penniless, but never homeless because I am resourceful. I vote you ‘drop off’ as you put it.

      • AW Voll

        Your, in “your” case is spelled You’re as in “you are”…stones and glass houses my friend….

    • CinnamonGirl

      I agree with the FB generation. I raised my boys better than that, yet when they get out on their own they become retarded like the rest of their peers. So sad. Luckily they have the self sufficient education we gave them growing up so if the SHTF they can fall back and hopefully survive…..hopefully.

  • Bone idle

    # 20. Baltic shipping Index is empty. No shipping movement taking place.

    # 21. Chinese shipbuilding industry has collapsed. Ships are not required for exports that are not there.

  • Jodi

    Obama cares about his golf game more than the economy because he knows the damage is done. Buckle up, trouble is just around the corner.

    • xander cross

      Indeed. It’s time to prep people, not watching the golf channel. Do you know that all of the ground that they play on those golf courses, could be homes on them.

  • Joe

    I’m sorry to post OT but I don’t know how else to contact Michael and I would really like his opinion on rumors that China will revalue the Yuan soon this year which, I have heard, will crash the dollar.

    • Michael

      There are always rumors. I hear all sorts of things. :)

      At some point the dollar will crash, but I don’t think it will happen this year.

      Michael

    • GaryToo

      chinese will never float their currency, they need to keep it artificially low. they can crash the dollar anytime by dumping a trillion or so us fed treasuries. They desperately need you to keep buying thier xports so wont do it suddenly, if at all.

  • Paul

    Here some news to you.
    Germany’s economic backbone are not shareholding companies.
    German companies rely much less on credits and loans than others.
    The savings quote of German households is higher than elsewhere.
    The German Pension system is not based on capital. It is more hand-to-mouth. What is coming in from future pensioners, goes out immediately to current pensioners.

    My personal prediction: the economy is picking up next year. There will be no crash this year.
    Prepare for a whirlwind of economic activity, get some education while you still have time, and visit the country side to fill your lungs with fresh air and relax your mind.

    Now is a good time to look out for seminars, ditch the pub and bar and beer instead. You can visit them again when you are stressed out to the max.

    • Andre

      The guy above me^^, Paul, is delusional.

      • Save the Republic

        Yeah, a whirlwind of economic activity…more like a black hole of economic activity that threatens to suck the life out of everything.

  • r.bitting

    Now is not the time to panic, but rather, it’s the time for believers to humble themselves, pray, and seek God’s face on behalf of the people, and ourselves for that matter, so that when we are brought to the end of ourselves ( and we are surely about to be ), we would return to God with a repentant heart, trusting on the sacrificial death of Jesus Christ to save us from our sin. the only name by which a person can be saved. My prayer is that God will use this time of horrible suffering to save many, and that the readers of Michael’s blog would be counted among them. Please pray and fast for these brothers and sisters, that they may be saved.

    • Dalarna

      Your comments are sooo cute!

  • http://endzone2.weebly.com Craig

    Nah, what we need is economic nationalist. We’ve been sold out by global elites here in America.

    By Pat Buchanan:
    http://www.wnd.com/2012/06/we-need-more-economic-nationalists/

    • xander cross

      funny, how pat bucannan actually works for the very same elites that he is against. Just like ron paul works for mitt romney and rand paul attending the bilderberg group.

      • GaryToo

        still waiting on the evidence xander.

  • William

    This started back in the late 18th century with a man named Adam Weishaupt in Bavaria. Today, everything is going according to plan. Layered on top of all the sovereign debt and insolvent banks are hundreds of trillions of dollars in unregulated, “black box”, secretive derivatives. Some years back, the head of the CFTC, a woman named Born, tried to impose some regulation and transparency on these derivatives. She was crushed by these men: Summers, Rubin, Greenspan. WHAT do these three men have in common?? Do you know what the City of London means?? Did you know that the mere possession of a copy of the Protocols was sufficient to have one SHOT to death in the early days of the USSR?? Do you know who vastly disproportionately manned and led the Cheka, the OGPU and the NKVD?? Do you even know what these grouped letters mean?? Or, maybe you are too busy yakking on a cell phone, or text messaging, or watching some inane, mindless show on the boob tube to be concerned with the destruction of YOUR life………………

  • Excalibur

    Nothing to see here kids, back to your “reality” shows!

    • CinnamonGirl

      bread and circus’ and Rome burned…

  • M Charles

    Im preparing but I still want to stick my head in the sand and pretend this nightmare is not happening

  • bobnoxy

    Forbes was factually wrong again. The 2009 budget deficit was signed into law by Bush. But then, I don’t expect them to be impartial.

    Oh, and since Congress has ”the power of the purse” and controls spending more than the president does, don’t Republicans share the blame for the trillion dollar deficits? They whine about Obama not having a budget for the past three years, so in the absence of one, they spend like crazy, and it’s all Obama’s fault?

    • AlexJ

      Sorry no. The Congress refused to pass a budget resolution until after Obama took office. There were only continuing resolutions until then. Bush did push through TARP, however it was only AFTER recieving overt approval from both Obama and McCain.

      Nice try though!

    • xander cross

      I know, this site never blame the republicans for anyting especially rand paul who actually attended the bilderberg metting a few weeks ago. Like how ron paul was so quite about the voting fraud in maine. Ron Paul is indeed involved with the elites on this one.

      • pranah

        xander, where did you hear that Rand Paul attended the recent Bilderberg meeting in Chantilly? I heard Mitt Romney did (four hotel staff confirmed they saw him, says, I think, Jim Tucker per Alex Jones’s show), and I believe that–plus it was the week following Bilderberg that Ron Paul sent out his email conceding he would not have enough delegates to win the nomination and Rand, the same day, went on Hannity and endorsed Romney. COINCIDENCE or NOT?

    • Mal R.

      “don’t Republicans share the blame for the trillion dollar deficits? They whine about Obama not having a budget for the past three years, so in the absence of one, they spend like crazy, and it’s all Obama’s fault?”

      You’re asking two different questions. Yes, Republicans were just as profligate as democrats when they were in control prior to 2007. However, Obama hasn’t had a budget in the past 3 years because Democrats in control of the senate wont even bring the budgets passed by the Republican House to a vote.

  • markthetruth

    Micheal vs media(analyst,fed,etc…) Mark

    Yes — possibly
    Will — might
    is — could be
    unfolding — easing
    will likely — won’t likely
    we never recovered —- recovery could slow
    way too much debt in US —- the US could take on more debt(aka. solos)
    pay the price —- it’s on sale
    leaders —– …….. —– what’s that
    Master plan —- …….. —— pick up sticks
    next recession —- moderate growth
    time to panic —– time to spend —- time to take the antidepressants

    The end….

    Micheal delete my previous post
    thanks

  • john.s

    things are getting really Bad. no point in sugar coating it.. i doubt we will see QE 3 coming anytime soon with the u.s. stock market heading up for “whatever” reason.

  • DEFCONStudios

    Michael,

    I believe that by the End of 2012 we will witness another Lehman Brothers moment. Perhaps it may be timed for September 2012. The Financial system is in essence a Ponzi Scheme that was not designed for long-term longevity but rather short-term gain and profit for a minor percentage of the population.

    • Michael

      We shall see. Things are definitely heating up, and I think 2013 to 2015 are going to be really tough years.

      Michael

  • Rancher

    IMHO now is the time to sell whatever items you still have to lighten your expenses. Extra rigs cost extra insurance… stuff like that. Also yard sale stuff. When the masses start doing it soon the net worth of your stuff will plummet.

    Get cash, get food, get supplies to off set the inflation coming and also the lack of many items. Sadly most will scoff and then suffer later… don’t come running to those of us who sacrificed now to better ride the storms out later. Truthfully you just are not our kind of people….

    • Save the Republic

      Yes, this is one part of prepping that a lot of people don’t think about. Yard sale as much unnecessary stuff as possible, then convert those dollars into supplies.

  • Shamaka

    Well, Nero fiddled while Rome burned, so a little golf ain’t so bad! Perhaps Obama is looking to his career after his days in the White House end

  • Gary2

    #8 New French President Francois Hollande has promised to implement a top tax rate of 75 percent on those making over 1 million euros a year.

    Thank God someone is finally taxing the rich hard. For those who think Obama is a socialist he sure in heck is a pretty piss poor socialist.

    God Bless France–finally a sane leader.

    Tax the rich and spread the wealth.

    • Mal R.

      Hey schmuck, when that plan fails, and it most certainly will, I want you to promise to come on here and proudly proclaim that

      “The Democratic version of economics is a miserable failure and better left to adults with rational thinking.”

      • Gary2

        when France succeeds and proves socialism works will you admit you are wrong?

        • Scott

          France is already Socialist. How can something that’s been a complete failure to them be proven to work?

        • Mal R.

          Absolutely. But I’m certain that will never happen. Socialism will never suceed without being propped up by someone or something.

    • Louie

      You’re right, The Dictator is a piss poor socialist. But he does try hard, he’s just not bright enough to pull it off.

      Lets’ see how Hollande’s “tax the rich’ thingee works out. France isn’t becoming an economic basket case because of their historical fiscal conservatism.

      Regardless of any price we pay for Europe’s collapse, I love watching it play out. Our socialism will sink us as well, but we’ll get to watch much of Europe begging for food first.

      When I was a kid we brought canned goods to school to feed nations like Haiti. In the not too distant future my grandkids will be asked to donate food to the Greeks.

    • Kevin2

      Gary2

      In the end however I’m reminded what a Cuban truck driver that made chemical deliveries said about Castro.

      “Castro did not lie to us. He said we will all be equal. He was correct because in the end we were all poor”.

      Redistributing wealth is a stop gap. Wealth needs to be created. In that regard neither the liberals or conservatives have a viable plan as the conservatives want lower and lower labor costs exporting industry to nations employing workers that cannot afford the items they manufacture and liberals can’t wait to regulate and tax the first sign of success.

      Combined it’s a recipe for failure.

      • Kevin2

        I wanted to include that the “liberals” are very willing to support the exportation of US Industrial capacity and with it “good jobs at good wages” along with the conservatives. The “so called liberals” often lead the free trade endeavor.

    • davidmpark

      That means it’s called “Occupied France” again. Francois “Vichy” Hollande is forcing the rich and intelligent to move their assets and themselves out of there. Reservations at Rick’s Cafe Americana is an arm and a leg these days.

  • Gary2

    Michael–is that a picture of your wife after reading some of the right wing nut posts on this site?? :) glad you are back!

    • Michael

      No, that is not a picture of my wife. :)

      • SMASH THE CONTROL MACHINE

        SHE IS ALOT HOTTER THAN THAT FREAKED OUT GIRL

    • Mal R.

      What the hell kind of insulting question is that you nutbar? nvm, I got it now.

      To the leftist mind – I read some wacky right-wing nutjob posts on this site so therefore a picture on the site is the author’s wife.

      ********** crap you’re a loon.

    • mondobeyondo

      Personally, I thought it was a pic of Kim Kardashian…LOL

      • Michael

        Wouldn’t it be ironic if Kim Kardashian actually read this blog?

        Michael

        • Gary2

          I do not think she can read.

        • CinnamonGirl

          Kim Kardashian can read?

  • Gary2

    #7 The socialists won an outright majority in the recent parliamentary elections in France.

    This is what we need in the USA–it is plain that the right is morally bankrupt and the democrats are only marginally better.

    Level the playing filed and tax the rich!!!

    Tax the greedy to help the needy and tax the wealthy to keep us healthy. The rich do not deserve the outsize rewards they steal from the rest of us.

    Time for payback!

    • xander cross

      Indeed. Especially when these priviate compaines sitting on billion dollar bonus by laying off workers and stealing pensions and 401k plans.

    • Rodster

      I give France 2-3 years before they collapse. Liberals and Socialist are too stupid to understand basic economics.

      • GaryToo

        no the 75% tax on wealthy will delay it by an extra 5 minutes

    • Mal R.

      “it is plain that the right is morally bankrupt and the democrats are only marginally better”

      LMFAO!

      What you meant to say is that the left is completely and utterly morally bankrupt and works tirelessly to tear down anything and anyone with morals and principles and the right is either slow on the uptake or lacks the spine to point out what you people are. The difference between what you and I said is that what you said is complete fantasy and what I said is backed up by 200 years of democratic party history.

      • Gay Veteran

        get a clue, Mal R., the false right/left is used by the elites to keep the people divided

    • Frank The Tank

      Foolishness, Gary2.

      Surely you are considered rich to someone less fortunate than yourself, right? By whicih measure is one considered rich, othern than by comparison to one who is less so? Why don’t you let those unfortunates dig their grubby little hands in your pocket and take food from your family’s table?

      Listen here, Robinhood, you can’t villainize all rich people, saying they attained wealth by stealing from you – not poor, defenseless, helpless Gary2! Quit bitching and work hard like the majority of succesful people have to. Unless your willing to put in the time and make the sacrifices in your personal life, consider shutting the hell up. Roll up your damn sleeves, row the boat like the rest of us, and quit whining about how everyone else other than yourself is to blame for your ****** circumstances.

      ~F

      • Frank The Tank

        lol

      • Rodster

        Don’t waste your time with Gary2. He’s nothing more than a pissed off loser which is what the DemoCRAPS and Socialist feed off of. ;)

      • Gary2

        yeah those wal street crooks sure work hard, and lets not forget the overpaid CEO’s they work so hard. What a low info fool you right wingers are.

        • Mal R.

          “What a low info fool you right wingers are”

          Oooohhhh, theres that ‘low information’ slur again. Coming from the guy that believes spreading the wealth makes everyone rich. Of course since that’s backed up by absolutely NOTHING in history, a good Alinsky tactic slime will suffice.

        • Rodster

          Proves our point you’re a loser. ;)

        • GaryToo

          and lets not mention all the untalented entertainers and athletes on megabucks, that should be going to you.

    • davidmpark

      Payback?! PAYBACK?!

      What are the Left going to do? Send what’s left of their non-jailed thugs to break windows and sidewalks; or will out-of-shape welfare recipients called public union employees taunt us with another round of poorly made signs?

      I’d love to see what the Right will do in response… oh, yeah. They don’t do much except take it and move on with life.

      Eh! I don’t think there’ll be much of a payback.

    • Modern Patriot

      I know it’s pretty much a waste of time to make any attempt to debate a liberal ideologist, even if you have facts that are chiseled in stone, but I post this anyway as other may find it informative nonetheless.

      Just for the record, I actually found this video from another posters link in a previous article on this site. Watch this carefully Gary, and try to pay attention. And for the love of Pete, try to avoid the typical liberal responses such as trying to label this as “conservative propaganda” etc etc. While I personally can’t stand the Republican party nor the Democrats, the conservative Americans out there generally have the right ideas. If you doubt the claims made, then just do a little research and check the numbers for yourself, they are spot on. Here’s the link:

      http://www.youtube.com/watch?v=661pi6K-8WQ&feature=related

      As you should be able to see after watching this video, “taxing the rich” is a pipe dream only touted by those too ignorant to know any better, or unwilling to try and learn. There is a definite need for solutions to many issues which contribute to the growing divide between the top and bottom in this country, to that there is no question. However, the continual advance from a Constitutional Republic, as intended by the founders of this nation, has led the the expansion of federal, state, and local government with overreaching power. As certain corporations consolidated enough power, they systematically entrenched themselves into the political process and from the shadows, regulated their competition out of business. The average small business has little chance to succeed short of a miracle today due to the regulations and tax burdens they face. Despite these things, “progressive” politicians convince their loyal supporters that even more regulation and taxation are necessary, oftentimes while collecting huge sums from the giant corporate lobbyists and PACs whose agendas they secretly peddle.
      Gary, won’t you wake up and see that you’ve been scammed? Maybe then, you can open someone else’s eyes; if enough people would wake up in this country we might have a chance of canning the countless useless politicians of BOTH parties and putting some people who understand and respect the constitutions in their place. But, after learning just how stubborn and willfully ignorant so many in our society have become, I guess that this is nothing more than my own pipe dream.

  • Bob

    Agree!

  • Saq

    Gee. Everyone i talk to says everything is getting better. Crowds at the mall. People waiting in line to get into the Outback Steak house. Recession? what recession?

    Why do I feel like a paranoid lunatic? Is it me? Is it people who visit these collapse blogs that are crazy? Or is it really the sleeping masses? After awhile it gets hard to tell……..

    • r.bitting

      Read Isaiah 22:12-14. . .

    • xander cross

      They in the lines at Outback steakhouse buying food on credit cards. Remember, when you see lines on people at these restaruants, they are indeed, using credit cards that they make the minimum balance payments on. Don’t worry about them, keep on prepering.

    • TX4Life

      I’m convinced they are masking their problems with credit. A family of six who struggles to pay their utilities and then eats out several times a week? Can only be explained by a credit card if you ask me. But I agree, you watch people carrying on as usual and wonder, “Am I nuts or are they?”.

    • i’vegivenup

      Sheeple always think things are just fine. Most of them are also in the top 1% of the population…

      • Mal R.

        “Sheeple always think things are just fine. Most of them are also in the top 1% of the population…”

        How on Earth did you come to the conclusion that sheeple come from the top 1%? I should think that by definition, sheeple are nowhere near the top 1%.

    • davidmpark

      See if they pay with cash. Most likely it’s on credit.

    • DownWithLibs

      I think the technical term for what you just described is “Denial”.

    • mondobeyondo

      They are the ones who are crazy. Classic normalcy bias (i.e. Alfred E. Neuman syndrome – “What, me worry?”)

      These people believe that just because things have been this way for the past 100 years, and that things are the same today, means that things will be the same for the next 100 years. Not necessarily so.

      Just ask the survivors of Hurricane Katrina. “Oh, we’ve always had hurricanes. But never one this bad! What happened?”, etc. Well… um, a hurricane happened.

    • Gary2

      maybe they are using credit cards they are running up and will default on. They are just doing some wealth redistribution. Good for them.

      • Mal R.

        Yea, good for them. So the next time some loser like Gary goes to get a card, they see he’s about as worthless as those people so his CC APR is 15-20% and then he whines like a B!TCH about rich people stealing from him.

        Why do liberals always run in circles chasing their tails?

  • lee

    “Now is not the time to panic. If you acknowledge what is coming and prepare accordingly then you will likely be in good shape.”

    Totally agree with this. The powers that be will keep things rolling as long as possible as no one wants things to crash on their watch, because then they don’t get to keep their power, but they have gotten too greedy with power to be able to control things now and thier abuse of power will take everybody down.

  • Rikki

    I have pretty much thrown in the towel…my litmus test…..i get NO response anymore from posting a resume on CL….yes Not even spam i used to get 30-40-50 spam responses a week along with some real offers….now barely 1 a day….

    I’m here in Long Island City some construction renovating old warehouse buildings then they hire people, none who speak only English…korean spanish russian…

    You get almost nothing for free anymore on CL you can fix up and resell.

    And if this is the beginning Michael, i guess my Christmas present to my mom, is my GF me and our cat, moving into her basement.

    • Michael

      Rikki:

      I know that times are incredibly hard but please keep trying. You may have to create your own job instead of relying on the system.

      Michael

  • Andrew

    Hi there,
    Just wanted to say I love reason your blog…
    How should one go about preparing for what is on the horizon? I keep reading “get prepared” any tips on what to do?

  • patriot alice

    IT’S HARD TO BELIEVE, BUT IT CAN’T GET BETTER IF THE ONLY SOLUTIONS ARE TO PRINT, BORROW AND SPEND…

  • Loop Garoo

    Every time I explain the coming implosion to a woman, I get called negative and gloomy. I am not sure that most women are mentally ready to accept reality. It is as if women are waiting for their daddy to give them a hug. I wonder if Barry and Billy would have been elected if women did not have the right to vote?

    • Prepared Pastor

      My woman is not interested in preparing at all. She will discuss theory, but since her $1.25 Million Department of Education grant was just renewed she thinks she has a job for at least five more years. Fortunately, I’m her man and provided for her and our children a mountain retreat capable of producing it’s own heat, meat, water, and electricity. It is well provisioned for a couple years and when the time comes we will grab our breeding stock rabbits and chickens and head for the hills.

    • CinnamonGirl

      I am one very involved woman when it comes to preparing. My husband agrees with me and understands the principles involved, but not the tactical actions to take….that’s my job.
      I would thing preparing would come more naturally to the nuturing personality of a woman.

    • GaryToo

      i know what you mean loopgaroo

    • Concerned Person

      I don’t know about most women, but my husband called me paranoid and a “Debbie Downer” for years. I’ve been worried about the world’s instability since I was in my early teens. Let’s just say my husband doesn’t call me paranoid anymore.

  • markthetruth

    Micheal

    How is it that all of this is going on, but when you look at wall street you hear that everything is undervalued and people should be pouring their money into the market. Is this the next ponzi scheme or am i missing something.

    The end.

    • Tim

      They want you to put your money into the stock markets. That’s why gold and silver prices are suppressed. They don’t want the masses to see gold and silver for what they are–the only true safe havens. Ignore the propaganda coming from the mainstream media. They are just mouthpieces for Wall Street.

  • Bart

    Don’t worry.. Bernanke will make sure we have perpetual easing to resolve all the economic problem.. If he can’t do it alone, he has all the superfriend central bankers around the world helping him..

  • SC23

    The sad part is.. in the US..for the most part.. you get two kinds of sheeples. Those that call it all crazy tin-foil hattery and those who continue to blame all the US problems on Bush.

    I fought the fight trying to warn people for a long time and finally gave up. Now I just want to watch the whole thing burn..from my bunker.

  • knightowl77

    Obummer “schooled” by Vlad the Impaler @ the G20….
    Russia, China, Iran and Syria to hold “war games” in Syria next month, or is that just an excuse to kill all of Syria’s rebels?
    The news around the world just gets worse and worse, especially because, Obummer is a very weak president…

    The speed of our country circling around the drain is increasing every day…

    • xander cross

      I bet you acutally believe that Mitt Romney would change things don’t you? I noticed you have not spoke about your favorite politican and his son attended the bilderberg metting, and yet, you don’t complain about it unless it’s Obama. Interesting, typical racist.

      • DownWithLibs

        Try a little vinegar to get that stain out. Just make sure that you don’t wash the shirt in hot water BEFORE you see if the stain has been removed. Common sense…but people still get this one wrong.

      • GaryToo

        PROOF xander, its quite a claim, back it up, fort the fifth time.

  • http://worldendsar5newsat11.blogspot.com drbuzzsaw

    incredibly painful
    That’s a nice way of saying “your gonna lose EVERYTHING and your money will be worthless and you will find yourself sitting around a camp fire to keep warm eating rat meat on a stick or the neighbors cat and when that runs out you will be eating the neighbors kid. Stick around things are gonna get incredibly UGLY. People when they get hungry will eat about anything to quell hunger pains and especially to feed their kids.
    http://surviving12-21-2012.blogspot.com

  • Ian

    meh…….2 years from now i will still be reading things like this, yet i will still see fancy cars, high tech electronic devices, six dollar lattes, steak houses unable to seat you because they are full to capacity, luxury hotels sold out, malls packed everyday, music festivals selling out at record pace, and business as usual.

    btw…my sister just returned from Europe and says things look just fine and dandy there. She saw no sign of all this economic chaos i keep reading about.

    Some of her European friends were barely even phased by what is happening, and they all had jobs.

    i will believe this economic doom and gloom when i actually see people suffering. Suffering not meaning having to wait 5 minutes for your luxury towncar at the valet station.

    • mondobeyondo

      The sheeple are being fleeced, while they have their own wool pulled over their eyes. Sooner or later, they will discover the truth. Let’s hope it’s sooner.

  • Don

    All of this and not one word of Japan. Their debt is the highest of all nations by at least twice. Now appears Tokyo needs to be evacuated as radiation effects are too obvious to ignore. Dare we mention the effects of irradiate seafood coming out of the Pacific. Anyone care to guess the amount in TRILLIONS of dollars the seafood industries will suffer around the world, least we forget to mention the amount of jobs to be lost by seafood workers.
    Exclaiming it’s time to wake up has long since passed, it’s now time to prep in someway or another for coming events/situations with no guide lines or experience. This won’t be an easy task, both mentally and physically and people are searching hard for answers. Money will not save anyone from this spiral except ones rich enough to move into well planned bunkers. Our future requires people coming together to plan for existence in the coming months. Guess we’ll call them tribes.
    God Speed USA.

  • http://whatreallyhappened felixthecat

    And right around the time when things really start heating up, a man will appear saying he is the savior, that he has a plan for the world to follow him, and so the days of tribulations will begin!!!!

  • Nostradamus

    The ROOT CAUSE of the Eurozone (let’s remember Eurozone is only half of the EU) is fundamental flaws on the structure of the Euro currency, and flaws in how the Zone countries ignored commitments in the currency treaty.

    The founders of the Euro currency knew of these flaws but they said they will be dealt with when problems arise in the future, by future leaders.

    But he founders of the Euro did not imagine in their most dire dreams how the structural flaws they permitted to actually got triggered, and how difficult to solve them.

    The TRIGGER of the Euro structural flaws originated from the U.S.A. During the course of the past dozen years, major European banks copied some of the most toxic financial practices of Wall Street banks. Yes they did. As the American economy blew up, these financial practices proceeded to blow up the weaker Eurozone states.

    The Wall Street Weapons of Mass Destruction has spread to the Eurozone, threatening the entire EU economic system. This, history will record, is actually the much-dreaded World War III where dollars are bombs.

    Those countries who HAVE STEADFASTLY REFUSED to copy or adopt the Wall Street High Toxic Financial System have all been shielded from the CDO Nuke Missile attacks, and in fact have gained prosperity. These include U.S. NAFTA partners Canada and Mexico, large S. American countries of Brazil, Argentina and Chile. It includes all Pacific Rim countries from Japan, China, all the way to Australia. It includes Russia, and most EU countries outside of the Eurozone. The rest of the world – Africa, India, S. Asia, Arabic countries have little financial and economic connections to America and Wall Street and therefore isolated from the American War on the 99%.

    As we now enter the next phase of America global war on sound economics, let’s not forget the big lesson. Let’s not forget who are the real culprits, who got away from accountability and justice. The same people who created World Financial War 3 are still in charge, to finished the job.

  • milou
    • Zombalypse

      Wow, thanks for the link to leap2020. I don’t get over there enough. Spent the better part of the last hour catching up over there. (Hat tip, of course, to YOU, Michael!)

      Note: I get most of my Middle East/ Russia/ China info from http:rickrozoff.wordpress.com (Stop Nato)

  • REED RICHARDS

    Ah, no. Now is not the time to “freak out and panic” about the economy. Now is the time to make a cool, calculated decision as to how to proceed. Does one leave the asylum states or stay? And if one stays or must stay because they are not able to leave, how does one live within a reasonable means without being victimized by the predatory state?

  • Alvin

    All this stuff that’s going on reminds me of an old 60 minutes segment from 25-30 years ago. They were talking to Russian worker who was asked what it was like working in the
    USSR system, his reply was “They pretend to pay us and we pretend to work”

  • i’vegivenup

    Michael:

    I really appreciate your articles. They are informative and great tools for spreading the word of the impending disaster(s). My only “objection” to your article(s) is that you soften the inevitable outcome by calling it “another recession”. Really??

    Try DEPRESSION since that is really what we have entered beginning in 2008. The only reason why banks haven’t COMPLETELY tanked is the stimulus money…lack of lending…and the Fed. The stock market’s gains are the result of the rich trading to the rich. With real unemployment at over 20%…the deficit greater than the GDP…record forclosures/rising homelessness…rising inflation and stagnant or lowering wages…this paints a grim unfolding scenario.

    It is apparent what is now happening and when the EU fails it will become even more apparent. Panic will ensue and turn to rioting as the sheeple fight for food…water…etc. Just being prepared may not be enough to ride out the storm either. Try…A MIRACLE….

    • Michael

      You are right – sometimes I do make things sound better than they are.

      I try to understate things rather than overstate them, and yet many people still call me a “doom and gloomer”.

      But the truth is that things are usually even worse than I am saying.

      Michael

      • Gary2

        Michael–is the word “crud” a vestige from the 1970’s love canal debacle?

  • Big Kahoona

    Michael,

    How are yah? Been a while since I posted. But I do read every article.

    However my question to you on this one is simple.

    Why not just say Depression and Anarchy rather than “another recession”??

    Unlike the Depression of the 30’s, people back then helped each other I’m sure and faith in God was much more prevalent. But now days especially here in the USA, I can’t imagine how the welfare society and derelicts/vagrants will react to all this. There is going to be absolute chaos if the change is sudden. If there is any hope to be had, let’s hope it’s a slow bleed.

    • Michael

      Sometimes I am not sure which time frame to address.

      In the short-term we are heading into another recession.

      In the mid-term we are heading into a depression.

      In the long-term we are going to see total anarchy.

      So when I speak about the future sometimes I should clarify what kind of time frame I am talking about.

      Michael

  • davidmpark

    Gave up a long time ago warning people of coming troubles: they definitely didn’t want to hear it, and after much praying, the Lord said to lay down the exhortations for a while – let them just observe my actions.

    Not much has come of that except that the people around me say they’ll just come to me and expect free handouts everyday for every need they have. At their whim, they expect us to hand over the food, clothing, medicines and branch off all the utilities that I spent time and wealth on to research and produce in the worst possible conditions only so folks who call themselves “good American conservatives” and “peace-loving Liberals” can enjoy what little I made while in the worst poverty caring for a severely disabled spouse and young children; without any sort of compensation! Sorry; I know it doesn’t sound very christian; just hacks me off some!

    I know the Lord said He will consecrate my preparations and production for myself and family’s use, just like with Noah’s Ark and the 5 Wise Virgins and I need to trust in him.

    I am still worried, though.

    Do I have it in me to turn away neighbors and family who are hungry? What if they have nothing to compensate or barter with… or worse, offer me something immoral and unnatural in return? You know what I mean! If I turn them away, do I have the means to repel borders? Will I need to shoot people?! I hope the Lord does what He did with Noah and seal us away when the trouble begins. Or entice them to run to the store like the 5 foolish virgins whilst He leads us away.

  • Big Kahoona

    Lol….looks like I’vegivenup beat me to the punch!

  • Matthew

    Howard Beale: “I don’t have to tell you things are bad. Everybody knows things are bad. It’s a depression. Everybody’s out of work or scared of losing their job. The dollar buys a nickel’s worth, banks are going bust, shopkeepers keep a gun under the counter. Punks are running wild in the street and there’s nobody anywhere who seems to know what to do, and there’s no end to it. We know the air is unfit to breathe and our food is unfit to eat, and we sit watching our TV’s while some local newscaster tells us that today we had fifteen homicides and sixty-three violent crimes, as if that’s the way it’s supposed to be. We know things are bad – worse than bad. They’re crazy. It’s like everything everywhere is going crazy, so we don’t go out anymore. We sit in the house, and slowly the world we are living in is getting smaller, and all we say is, ‘Please, at least leave us alone in our living rooms. Let me have my toaster and my TV and my steel-belted radials and I won’t say anything. Just leave us alone.’ Well, I’m not gonna leave you alone. I want you to get mad! I don’t want you to protest. I don’t want you to riot – I don’t want you to write to your congressman because I wouldn’t know what to tell you to write. I don’t know what to do about the depression and the inflation and the Russians and the crime in the street. All I know is that first you’ve got to get mad. You’ve got to say, ‘I’m a HUMAN BEING, @@@ damn it! My life has VALUE!’ So I want you to get up now. I want all of you to get up out of your chairs. I want you to get up right now and go to the window. Open it, and stick your head out, and yell, ‘I’M AS MAD AS H@@@, AND I’M NOT GOING TO TAKE THIS ANYMORE!’ I want you to get up right now, sit up, go to your windows, open them and stick your head out and yell – ‘I’m as mad as hell and I’m not going to take this anymore!’ Things have got to change. But first, you’ve gotta get mad!… You’ve got to say, ‘I’m as mad as hell, and I’m not going to take this anymore!’ Then we’ll figure out what to do about the depression and the inflation and the oil crisis. But first get up out of your chairs, open the window, stick your head out, and yell, and say it: “I’M AS MAD AS H@@@, AND I’M NOT GOING TO TAKE THIS ANYMORE!”–From the movie “Network”

    George Carlin said: “Forget the politicians, they’re irrelevant. Politicians are put there to give you that idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land, they own and control the corporations, and they’ve long since bought and paid for the Senate, the Congress, the State Houses, and the City Halls.
    They’ve got the judges in their back pockets. And they own all the big media companies so they control just about all the news and information you get to hear.”

    “We are grateful to the Washington Post, the New York Times, Time magazine and other great publications who respected the promises of discretion for almost forty years.”by-David Rockefeller

    PokerFace – Revolution
    http://www.youtube.com/watch?v=mU2Q-ceNL54&feature=related

    Poker Face – BREAK THE KONTROL
    http://www.youtube.com/watch?v=q1_rENLHzKo

    Paul Topete and Poker Face are a christian band who sing about political and spiritual messages of freedom.

  • Washington

    Good evening patriots! Check this out from John read them and weep speaker of the house!

    House Committee Approves Sweeping, Warrantless Electronic Spy Powers By David Kravets June 19, 2012
    http://www.wired.com/threatlevel/2012/06/judiciary-approves-fisa-act/

  • Washington

    Russian Cargo Ship with Arms for Syria Found off Scotland

    http://rusnavy.com/news/navy/index.php?ELEMENT_ID=15369

  • OlFart

    The economic collapse has already been happening in many people’s lives here at home. Now, when it will be each one of us’ turn, this is the question. But it has already started. Should we be worried? Maybe so, as it has not been looking too good…

  • Rain23

    What do you think would be the best way to reach the lower class who are sheeple right now but might be willing to act if they understood that this really can affect them? In the state I’m in (WA), 1 out of 7 families gets food stamps. That includes minimum wage/part time workers who would gladly work harder if they could find a full time job. We’re not all Frito-munching, subsidy cell-phone addicted, People of Walmart slackers. Most of us don’t pay a lot of attention to politics or MSM news because we don’t understand how it relates to our situation.

    I’m struggling to find a good way to explain to my friends and neighbors what’s really up. To them “crash” means the stock market drops, some pension funds get cut. Some bigwig banker loses his 2 million a year job. Big deal, something happened in Europe. Isn’t that somewhere near England? Whatever. I’m trying to afford gas and get everyone in the family a warm coat for winter.

    I’m trying to raise awareness that “crash” also means loss of federal/state/county/city funding: Food stamps, Social Security retirement or disability checks, Medicare/Medicaid, military payroll are some of the funding that can be cut. So are the free school lunch programs and the school bus gas subsidies, and city bus subsidies. Our kids will be walking a mile to the city bus stop by themselves because Mommy already left for work. Food banks will close because the middle class supporting them can barely afford beans, Ramen and hot dogs for themselves. When public funding for emergency services is cut, there are fewer paramedics, fewer cops, and they are less well equipped. How quick is the response in your neighborhood right now? The ER isn’t getting public money so they cut back staff; double that 6-hour wait to be seen. How do you fill that prescription for Granny if Medicare Part D won’t cover it?

    If it was just banks, the stock market, rich folks with their golden parachutes, I’d say let it crash and burn. The reality is a lot of the lower class is just making it with the current safety net. That net has holes in it already. We’re talking about affording basics like any kind of roof over your head, medicine, food, clothing, utilities.

    The people around me need to wake up and start making plans for what happens when the extra help stops. Most of them have the attitude “Oh, they would never cut (insert public program you’re on).” Yes, they will, and not care what happens to you and your family afterward. Right, we’ll all take to the streets and protest. Justification for shooting you, problem solved. If you want another solution it’s time to wise up and stop depending on the government.

  • mondobeyondo

    The perfect storm is brewing in the financial Gulf… and this one’s gonna be far worse than Katrina ever was.

    Bad news I see in the future. Bad, bad news.

    P.S. My crystal ball broke long ago and it short circuits every now and then. So, I can’t give you an exact timeline!

  • mondobeyondo

    Suffering is rather relative. It is important to keep perspective in mind.

    To your average American baseball-watching, happy hour drinking, baby back rib barbecuing, Joe Sixpack type, “suffering” means not having enough to pay next month’s electricity bill. “Oh, woe is me!!”

    For someone in Nigeria or Indonesia, “suffering” means not having enough to eat or to feed your family for a couple of days. “Oh, woe is me!!”

    Perspective is important. *sigh*

  • SMASH THE CONTROL MACHINE

    The conclusion to draw from all of this is clear: finance the government, save the banks, screw the people. This reality, coming soon to a western civilization near you.

  • SMASH THE CONTROL MACHINE

    When JPMorgan is betting on an economic crash—pay attention. It is extremely reminiscent of Goldman Sachs (America’s second most prestigious bank) betting on the mortgage meltdown in 2007—just as the housing market peaked, before melting down.

    Interestingly, if another crash does come, Jamie Dimon says taxpayers should not rescue the bank. “We have to allow our big institutions to fail. It’s part of the health of the system,” he said. “We shouldn’t prop them up. We have to allow them to fail.”

    “I think the banks should be dismantled after that, and their name should be buried in disgrace. So there’s a little Old Testament justice here.”

    Dimon’s reference to Old Testament justice might seem somewhat refreshing, but it is also self-serving.DIMON’S QUOTING THE BIBLE WTH???

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  • http://githeko.blogspot.com Jason

    Hmmm. This is an interesting discussion but one thing’s missing: Where is it all leading to and why is all this happening. The truth will surprise you. See http://www.repentandpreparetheway.org

  • http://mommyx12.blogspot.com tricia

    As I began to read this article I said to my 14 year old daughter. Want to know 19 reasons to freak out about the global economy? Her murmured, not really directed at anyone in particular was….

    obama
    obama
    obama
    obama
    obama
    obama and on and on until she reached the number 19! Just thought I’d share.

  • http://www.afterdeathwhat.com Ryan

    I think is is all happening because it is near the time the Bible speaks about as the Great Tribulation. There are many sings of the end. Watch this video and you will see the end is near http://www.youtube.com/watch?v=63c4qOirJ4A

  • Me

    All too easy.

    Perhaps you are not as strong as the Emperor feared…

  • Sinama

    In Greece and elsewhere people are waiting to be rescued and cling to the desire for the continuance of the world as they know it. Unfortunately, happy days are not here again and may never be for at least 10-30 years. Personally, at age 64, I believe I will not live to see a real recovery, but I believe my children and grandchildren will survive and witness a rebirth.

    So when you see the crowd is moving in one direction turn 180, walk fast, and don’t look back. Make common cause, if possible, with family and neighbors. Prep everyday, even if its one can of beans and a pound bag of rice or pasta. Learn to grow food and how to preserve it. Learn how to hunt and prep game. As others have noted, leave metro areas if at all possible. The collapse will begin when it begins, until then prep, prep, and prep.

  • Nancy

    “It has been alot of fun spending all of this borrowed money, but now we have to pay the price.” I’m sorry, fun for whom, ***** knows it sure as HELL wasn’t me!!! I’m sick to death of these SCUMBAGS spending hardworking citizens money and expect us to BAIL THEM OUT EVERY SINGLE TIME!!! Well, what are they gonna do once EVERYBODY has lost their job and have nothing more to give? Scratch that, I know what their going to do. They will hide in their “BUNKERS” like the COWARDS they are, and wait until we’re all dead, then they’ll come out of hiding. I’ve got news for you LOW-LIFES, the Lord God Almighty already has plans for you, and something tells me, you won’t like it!!!

  • http://startpage.com william wallace

    I have been listening to this for years.It could drag on for many more. As long as they can print money and hide the main street suffering and wars they are starting it will take some major event to start the chips to fall. We have alot of people on both sides making money on this problem, which is real. But what really sickens me is the people we count on for information are making tons of money on food,supplies, etc. If you shop sales,and grow, and prepare for the worst,and stop listening to the hype pay attention to all of the sources you won’t fall prey to anybody’s device.The info warriors are people to, they like money just like anyone else. Use your brain, check out the info, ask questions, listen to travelers,and don’t be taken advantage of. For over four years the sky is falling, yes it looks bleak, and it will happen in Gods timing. In the mean time love your family, live your life and prepare as God will enable you to.If we dwell on this stuff which changes day to day, you will have no rest. More will be done on your knees than listening to every bit of information that is wrong half the time on both sides. Pay careful attention.

  • Ernie

    If it does happen we all better hold on tight because it will be a rough ride!

  • Ben in LBTS

    The ecomonic collapse has already devastated my life, foreclosed, bankrupt, and broke. beware it is really painfull

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