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The Largest Economy In The World Is Imploding Right In Front Of Our Eyes

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A devastating economic depression is rapidly spreading across the largest economy in the world.  Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month.  So who am I talking about?  Not the United States – the economy that I am talking about has a GDP that is more than two trillion dollars larger.  It is not China either – the economy that I am talking about is more than twice the size of China.  You have probably guessed it by now – the largest economy in the world is the EU economy.  Things in Europe continue to get even worse.  Greece and Spain are already experiencing full-blown economic depressions that continue to deepen, and Italy and France are headed down the exact same path that Greece and Spain have gone.  Headlines about violent protests and economic despair dominate European newspapers day after day after day.  European leaders hold summit meeting after summit meeting, but all of the “solutions” that get announced never seem to fix anything.  In fact, the largest economy on the planet continues to implode right in front of our eyes, and the economic shockwave from this implosion is going to be felt to the four corners of the earth.

On Friday, newspapers all over Europe declared that Greece is about to run out of money (again).

The Greek government says that without more aid they will completely run out of cash by the end of November.

Of course the rest of Europe is going to continue to pour money into Greece because they know that if they don’t the financial markets will panic.

But they are also demanding that Greece make even more painful budget cuts.  Previous rounds of budget cuts have been extremely damaging to the Greek economy.

The Greek economy contracted by 4.9 percent during 2010 and by 7.1 percent during 2011.

Overall, the Greek economy has contracted by about 20 percent since 2008.

This is what happens when you live way above your means for too long and a day of reckoning comes.

The adjustment can be immensely painful.

Greece continues to implement wave after wave of austerity measures, and these austerity measures have pushed the country into a very deep depression, but Greece still is not even close to a balanced budget.

Greece is still spending more money than it is bringing in, and Greek politicians are warning what even more budget cuts could mean for their society.

For example, what Greek Prime Minister Antonis Samaras had to say the other day was absolutely chilling….

“Greek democracy stands before what is perhaps its greatest challenge,” Samaras told the German business daily Handelsblatt in an interview published hours before the announcement in Berlin that Angela Merkel will fly to Athens next week for the first time since the outbreak of the crisis.

Resorting to highly unusual language for a man who weighs his words carefully, the 61-year-old politician evoked the rise of the neo-Nazi Golden Dawn party to highlight the threat that Greece faces, explaining that society “is threatened by growing unemployment, as happened to Germany at the end of the Weimar Republic”.

“Citizens know that this government is Greece’s last chance,” said Samaras, who has repeatedly appealed for international lenders at the EU and IMF to relax the onerous conditions of the bailout accords propping up the Greek economy.

But don’t look down on Greece.  They are just ahead of the curve.  Eventually the U.S. and the rest of Europe will go down the exact same path.

Just look at Spain.  When Greece first started imploding, Spain insisted that the same thing would never happen to them.

But it did.

By itself, Spain is the 12th largest economy in the world, and right now it is a complete and total mess with no hope of recovery in sight.

The national government is broke, the regional governments are broke, the banking system is insolvent and Spain is in the midst of the worst housing crash that it has ever seen.

On top of everything else, the unemployment rate in Spain is now over 25 percent and the unemployment rate for those under the age of 25 is now well above 50 percent.

An astounding 9.86 percent of all loans that Spanish banks are holding are considered to be bad loans which will probably never be collected.  Before it is all said and done, probably ever major Spanish bank will need to be bailed out at least once.

Manufacturing activity in Spain has contracted for 17 months in a row, and the number of corporate bankruptcies in Spain is rising at a stunning rate.

Five different Spanish regions have formally requested bailouts from the national government, and the national government is drowning in an ocean of red ink.

Meanwhile, panic has set in and there has been a run on the banks in Spain.  The following is from a recent Bloomberg article….

Banco Santander SA (SAN), Spain’s largest bank, lost 6.3 percent of its domestic deposits in July, according to data published by the nation’s banking association. Savings at Banco Popular Espanol SA, the sixth-biggest, fell 9.5 percent the same month.

Eurobank Ergasias SA, Greece’s second-largest lender, lost 22 percent of its customer deposits in the 12 months ended March 31, according to the latest data available from the firm. Alpha Bank SA (ALPHA), the country’s third-biggest, lost 26 percent of client savings during that period.

Overall, the equivalent of 7 percent of GDP was withdrawn from the Spanish banking system in the month of July alone.

Thousands of Spaniards have become so desperate that they have resorted to digging around in supermarket trash bins for food.  In response, locks are being put on supermarket trash bins in some areas.

But Greece and Spain are not alone in seeing their economies implode.

As I wrote about recently, the number of unemployed workers in Italy has risen by more than 37 percent over the past year.

The French economy is starting to implode as well.  Just check out this article.

The unemployment rate in France is now above 10 percent, and it has risen for 16 months in a row.

It is just a matter of time before things in Italy and France get as bad as they already are in Greece and Spain.

The chief economist at the IMF is now saying that it will take until at least 2018 for the global economy to recover, but unfortunately I believe that he is being overly optimistic.

As I have said so many times before, the next wave of the global economic crisis is rapidly approaching.  Depression is already sweeping much of southern Europe, and it is only a matter of time before it sweeps across northern Europe and North America as well.

Neither Obama or Romney is going to be able to stop what is coming.  The global economy is getting weaker with each passing day.  The central banks of the world can print money until the cows come home, but that isn’t going to fix our fundamental problems.

The largest economy in the world is imploding right in front of our eyes and nobody seems to know what to do about it.

If you believe that Barack Obama, Mitt Romney or Ben Bernanke can somehow magically shield us from the economic shockwave that is coming then you are being delusional.

Just because what is going on in Europe is a “slow-motion train wreck” does not mean that it will be any less devastating.

Yes, we can see what is coming and we can understand why it is happening, but that doesn’t mean that we will be able to avoid the consequences.

  • Steve

    Read a good book on this by Michael Lewis. Boomerang. Good background material for those who like to read. Just saying.

    • VoxFox

      Agreed. Michael Lewis tells his stories through brilliant short descriptions of key characters. In this book, he shows how different national characteristics led to different responses to the promise of easy money through the lure of mega-debt. In all cases, each country was brought to the edge of disaster. Only Iceland took the right response, telling the greedy debt-lenders to ********* off: bad loans are NOT the responsibility of the people.

      • RobertB

        ‘Greedy debt-lenders’ did not force irresponsible people to borrow money. However, I do agree that bad loans held by institutions are not the responsibility of the taxpayer.

        Now who did Iceland tell to ******* off? Iceland actually told the foreign depositors (i.e. the bank’s customers), and then their governments of Britain and the Netherlands to ******* off after both governments had compensated depositors in their own countries who held accounts in Icelandic Ice-Save accounts. As per agreement, Britain and the Netherlands expected to be compensated by Iceland, but Iceland refused after a referendum was held. Ice-Save was put into receivership and the assets seized by the British and Netherlands governments; any proceeds from the sale will go to reimburse these governments for bailing out Ice-Save’s depositors but will still leave a multi-billion euro shortfall.
        Early in the crisis, the foreign depositor’s accounts were frozen until compensated by the British and Netherlands government but the Icelandic government compensated Icelandic depositors. Pretty sleazy.

  • Steve

    Well I still believe “austerity” is just a euphemism for cut your socialist programs and people to work instead of depending on the Government for everything.

    So in the end the EU is proving Margret Thacher, the former PM of Great Britain, correct. As she said “Socialism is great until you run out of other people’s money.” The socialism of the EU is now bankrupt.

    And yes the U.S. is well traveled down the same road. Hang on. It won’t be fun when 47% of Americans not paying taxes and getting Gov’t bennies find out they get no more.

    • Rodster

      Right O Steve. The common denominator here is socialism, it never works. All it ever does is it crushes economies and robs the soul of it’s people.

      My man Nigel Farage repeatedly warned the EU this would happen but they would not listen.

      • Colin

        If socialism was the key issue, than we would be hearing about the Scandinavian countries having economic issues as great as Greece or Spain. We haven’t. There is something else happening in the countries of Greece, Spain, Portugal, Italy, France, and the UK.

        • Eisenkreutz

          Maybe that is because no one lives in Scandinavia, the government owns their huge oil reserves, and they are Germanic people who efficiently balance the budget. Think for once in your life.

          • Big Thinker

            Thats all irrelevant – the point is socialism works there so socialism is not the problem – OTHER factors are the problem. You just proved the counterpoint! Idiot!

        • VoxFox

          Yep, there are hidden agendas not reported by the media.
          Greece was persuaded to buy large numbers of German tanks (like Turkey) & German banks would lend them the money. In Spain, it was a phoney holiday-home boom, again financed by German & French banks.
          Just let these over-lent bankers go bankrupt – poetic justice.

        • Steven in Dallas

          I guess socialism works as long as everyone keeps working hard and contributing. It’s the moochers and leaches that kill socialist systems.

          But then any system could be made to work if it were populates with only the “right” people; so the failure of socialism and other idealistic systems is that they fail to take the base nature of humanity into account. Oddly, you may think, I put Libertarians into this category. If everyone is smart, honest and hard working then a Libertarian system is great – but it is just as vulnerable to bad apples as is socialism. Libertarianism’s bad apples are at the opposite end of the spectrum from socialism’s. Libertarianism is vulnerable to uncrupulous corporate officers and wallstreet banker types.

          Steven in Dallas.

      • Nolan

        False. The problem here is not some imaginary European “socialism”, it is a crisis in the capitalist system. For a while in the 2000s, Greece (and Spain, and Italy, and Hungary, etc.) was a success story of integration and democratic neoliberalism with a human face. The banks on the continent made loans, got rich, the economy grew, and the people of Greece enjoyed a standard of living more fit of western europe. Everyone rode high for a while. Then came the reckoning as the global economy melted down, the banks want their money, austerity has crushed businesses and workers, and the rest is history. Now the core economies of Europe are starting to feel the strain again, and this time there isn’t a way out.

        Oh, and for the idiotic quip that Greeks are lazy? Laziness and productivity are not the same thing. Countries with the highest productivity need the welfare state even more, since high productivity usually means high tech automation in manufacturing and other sectors which needs fewer workers or fewer work hours. But I imagine anti-labor ideologues in America imagine that Germans work long hours and seven day weeks in ununionized 1900s sweatshop conditions at the local Mercedes plant, go home to pray to Jesus and Luther, burn whatever welfare benefits they are given, are proud of it, and are completely justified in their contempt for the rest of Europe.

        • Eisenkreutz

          People on the Med are lazy as all hell. They dont pay taxes they dont want to work more than 30 hours a week they dont want to work past the age of 50. *********************

          • jose

            Amigo, no me atreveré a comentar tu forma de vivir, pero si te diré como es la vida a orillas del mediterraneo…..trabajo 6 dias a la semana, como poco 8,5h ó 9horas al dia.
            Me quita el estado el 18% de mi sueldo, los impuestos son el 21% para casi todos los productos, ademas pago cada año Ibi, Renta etc…
            y yo soy un afortunado, la mayoria trabaja mas y cobra menos…Y SOLO TIENES QUE VER QUE LOS PAISES MEDITERRANEOS SON LOS QUE MAS HORAS DEDICAN A TRABAJAR AL MES.

          • Big Thinker

            30 hours a week is HUGE. I dont even want to do 15 hours

          • paul

            yes, its the lazy ones that invented machines and tools.

        • Jeff

          I agree with most of what you’re saying but your definition of ‘capitalism’ is inaccurate. Capitalism by definition is higher quality of goods sold at lower prices, i.e. free market competition with a profit system. Capitalism isn’t to blame here.. it is ‘Corporatism’. What Corporatism does is it allows Wall Street and other corporations to medal in the policy making of government where they can get bailouts, insurance or change regulatory policies in their favor. In essence, they monopolize their power within government. (Side note: these are the regulations we need.. not taking taxes from smaller businesses and forcing them to pay for outlandish employee benefits – the entitle system will not last).

          Unfortunately we’ve been living off this sugar high of cheap money and it’s all coming back to bite us in the ass in the form of interest rates. The United States cannot have a 0% interest policy while printing close to $1 billion per day. That is factually and mathematically not sustainable.

          I think a lot of people need to wake up to this reality because it will be too late when they come to realize something is actually wrong.

          • Big Thinker

            Wrong – “higher quality lower price” is not the definition of capitalism – it may or may not be THE RESULT of capitalism but it’s not the DEFINITION. The definition is “private ownership of capital resources”

            When you claim a quality, even if a true one, as a definition your logic is flawed and your critical analysis credibility is gone!

        • robrty

          Very aptly put Nolan, you are on the button!

        • Matt Greco

          You’re an idiot Nolan. Do you not realize that everyone WAS doing good before the crisis in the capitalist system? Nobody was really doing bad before then, IF they played the game. And the Greeks were no exception. Ask yourself, if the Greek economy was so stolid, what were their main exports? Yea, olives and tourism.

          To your false points, YES, the Greeks ARE lazy. NO, Socialism does not work. And YES, the capitalist system in its current state has failed, BUT this does NOT mean capitalism is a failure on the whole.

          You need to read some more history books and work on your logic.

        • Glench

          The company I used to work for had some minor business dealings which took me to Greece several times back in 2005 – 2006… and I can say that what Nolan’s said is 100 % accurate…

          The E.U. had dozens of ‘equalization’ programs going on at that time, designed to provide grants to Greek companies for research and development purposes… As a result, hundreds of large international businesses made ‘joint venture’ agreements with Greek businesses just so they could receive these grants. It was far easier for a small innovative Greek company to receive funding if they were ‘aligned’ with a much larger company after all.

          The economic problems Greece has today are the result of well intended but idiotically managed programs ran out of Brussels, which enabled large multinational businesses to rake in most of the cash provided in these grants…

          All of these multinational companies that received these grants from Brussels through the Greek government… really should have to repay what they took if the company they’d joint ventured with had gone under…

          The Greek people should not have to suffer from the ‘austerity measures’ wrongfully imposed on them, when the incompetence was not their doing.

      • paul

        oh yes, socialism is so bad. And the first thing those capitalists do when they have losses: scream for the state to cover those losses with tax payers’ money.

        • Eisenkreutz

          That is not capitalism you dumbass the merger of state and corporate powers is called fascism.

          • paul

            Where do you get your definition from?

            You say, in the US you have fascism, then which country still has capitalism?

        • SmallerGovNow

          That is not capitalism…

      • sos

        yeah, is that why china has surpassed the u.s.a in output

        • Eisenkreutz

          Move there. Idiot.

        • China has warehouses full of stuff like steel they manufactured and hid away just to make the rest of the world believe they and Communism are doing so wonderfully. Soon the chickens will be coming home to roost in China, and the hen house will be unattended.

      • Eisenkreutz

        Socialism is the centralization of money and power, resulting in the increase of social stratification. In socialist countries, wealth is transferred from the middle class to the rich.

        • paul

          Thats bull***************. Back to school.

        • paul

          In socialism the means of production are owned by the state. There is very little private property of production / businesses.

          • Ace Virginian

            Exactly right.
            And in Capitalist all is owned by the Banksters.

      • Kne

        And while Farage was saying those unpleasant truths that no one wanted to listen to, that very strange plane crash happened to him. The one where the banner pulling aircraft he was in, it just so happened that the banner tow on the ground decided NOT to release the banner as the aircraft caught it. i find that interesting as I am a pilot and I am aware that the banner tow ground mechanism is set up in a fail safe manner, that is, no matter what might go wrong, the default action is always banner release. No pilot would ever fly into such a device otherwise. Strange how that could just decide to fail by NOT releasing(an impossible action), at the time when Farage was on board. But the device was loaded with the banner hours before, and was NOT monitored in any way. Sounds like sabotage to me, but of course, that is impossible. Sabotage NEVER happens… does it?

      • Big Thinker

        Balderdash! Socialism is good – it’s spreads wealth equitably. Only rich capitalist pigs complain about socialism so you can keep all the wealth to yourself. PIG!

        • kkflash

          Horse%#*!. Socialism doesn’t spread wealth equitably. It increases social stratification by reducing the number of extremely wealthy and increasing the number of poor. It stifles incentive to produce useful goods and services, which is the true source of wealth creation. Socialism is the enslavement of the masses under the guise of their “protection”. Only unproductive envious sloths complain about capitalism. SLOTH!

    • paul

      I agree. If companies need workers, they shall make sure they get paid enough not to starve. These companies shall not depend on tax payers’ subsidies to keep their workers alive.

      And if they can’t do that they shall go bancrupt, no matter how big or how small that business is.

    • Me

      What happens when people can no longer buy plastic pumpkins?

      Economic output… equals… what then?

      PART of this problem is socialism, it’s hard to ignore the pie chart of US budgetary obligations. But there’s something more going on here.

      Wish I knew what it was.

    • Eisenkreutz

      How are people supposed to work when there are no damn jobs, idiot?

      • paul

        The problem isn’t that there is no work. The problem is the payment. It is too low.
        On the other side the profits are rising. Dividends are not used to buy enough products or to invest in infrastructure or research or education. Dividends are taken out and then lost.

      • kkflash

        There are ALWAYS jobs for people willing to work. Too many workers have too high an opinion of themselves to accept lower pay in a highly competitive global labor market. Meanwhile, politicians increase their own power by buying the votes of those unrealistic workers with government handouts, further reinforcing the erroneous idea that people shouldn’t have to work unless they get paid what they think they are worth. The solution to worldwide economic problems is not so complex. Stop the government redistribution and intervention in free markets. People will go back to work when they have no choice, and someone will hire them. IMO, able-bodied people should never ever be given money from the government unless they perform some useful work in order to get it. We must not encourage sloth.

  • GA

    Michael is absolutely correct. It is impossible to say how long we still have to get prepared. If you are here on this site reading these articles, then you know something is coming. If you have that feeling, why not start a preparedness plan? Why not prepare for the safety of your loved ones and yourself? Check out for some basics and ideas on how to get started. If you are preparing and experienced, share your knowledge (annonymously) so others may better prepare. Share these articles, wake people up!

    • GA

      Checked out your website and like what you have going on there. Good job on getting information out there.


      • GA

        Thanks PJ. I was just over at your site as well…outstanding! I sent you an email through your site.

  • AngryWhiteGoy

    “This is what happens when you live way above your means for too long and a day of reckoning comes.”

    It’s a debt monetary system. It’s designed to fail.

    Money = Debt. The minute the first unit of currency is printed+interest to a private central bank, more money is owed to the bank than is in existence. The system is doomed to fail from the very beginning. It is designed to confiscate the wealth of the people and put it into the hands of the money power.

    1.) No interest to a private central bank

    2.) No fractional reserve banking.

    3.) Stop government borrowing of money.

    4.) The currency MUST be valueless.

    5.) Arrest the bankers

    • Willson

      While I like the list I would move number 5 to number 1 and include lawyers.

      • uncle bill

        For SURE wilson!

    • mary clyde


      I concur with (1). With a public central bank (2) also makes no sense, but (3) does not– public works should be paid for from revenues from revenues from improved infrastructure, via a public central bank. Arrest criminal politicians along with (5). Please explain (4): not sure what you mean by (4) unless you mean a mechanism to stop FX speculation — such as if you need currency from country A converted to currency from country B, then fine: but you can’t convert B money back to A, you have to spend/invest B money in B only. The conversion rate is set at level that minimizes black market transactions.

      Iceland has done a number of these steps already and seems to be on the mend.

      Whatever the case, private central banks must go because they are free loading: a central bank & currency is based on the good faith & credit of a people. To avoid profiting from the people a central bank should be public because then the people owe only themselves.

    • Eisenkreutz

      If you make the private central bank a public bank it will be worse because governments can never ever resist the urge to print money. Just think of how irresponsible these shitbirds are right now. Imaging giving them control of the printing presses. We cannot exist as a society without fractional reserve banking. Think about what you are saying. What is a valueless currency you dont make any sense.

      • onething

        You don’t understand. The government prints money because it is in hock to the private, central bank. the government doesn’t really print money at will, it is all borrowed into existence by the agreement of the bank. Isn’t it the fed that is printing the money, quantitative easing? The fed is not the government.

        If I could make just ONE law to try to solve all the problems of this world, it would be to outlaw usury.

        Usury is unsustainable. And those who wield it, know that.

  • jox

    I think you are wrong. What’s happening in Europe is not an implosion, but a ‘painful adjustment’, as you said. EU is taking the only sensible approach to get out of the debt crisis. Compare it with US and UK central banks, printing money and aggravating the problem.

    By the way, the NYTimes article about Spain looks fabricated. They even take the pictures in black and white to increase the dramatic effect. This is not from a journalist trying to explain the Spain situation, but from someone whose job is to create a specific state of opinion. I wonder who behind the article is, and what his motivations are.

    • 007

      I do agree these countries are at least standing up to the government deficit spending and taking the pain. Obama, the gutless wonder, has offered no leadership to help us face our inevitable debt crisis.

    • Jeff

      They are doing the right thing by taking austerity measures but unfortunately the EU and the US Dollar are intrinsically connected. So once one tanks the other will follow.

      It’s unfortunate because austerity measures are the only thing that can actually help deal with this crisis.. but we’re so far over leveraged that the austerity cuts will force countries into depressions. I think it is needed but at this scale it will be horrific.

  • mongrel

    steve- i would rather devote what meager fiat currency i have to obtaining supplies to survive the coming global apocalypse. we all KNOW how we all got here, in europe and beyond- TPTB were greedy, corrupt, selfish amoralistic, full of powerlust, and yes, even lazy. i say bring on the reset- double flush that john to cleanse this world of this evil excrement some call bankers and govt elites.

    • Really?

      True Mongrel , lol…….
      No pyramid scheme has ever been successful.
      Unfortunately the ones that caused this chaos get to sit back and watch us do things we would not normally do to just exist/survive.
      God if your listening……please help us all right the wrong.

      • wikiderm

        “Nothing doesn’t work like prayer”

  • Randome-11

    “In response, locks are being put on supermarket trash bins in some areas.”

    Charity for Spain, buy metal saws.

  • “…Unemployment is skyrocketing…”, but Obama tells us it’s now down to 7.8%.

    Oh and food prices are going up 10-15%, but our the USG tells us inflation is only 1.79%.

  • Colin

    Europe sneezes, the US catches a cold.

    • Mondobeyondo

      Or it could be the Ebola virus. You never know….

  • Seb

    Just saw that the spanish bond yield was cooling 3,68% today. How is that possible ? The entire world know they are JUNK and somehow, somewhere, someone would still buy them massively ??? It’s insane and impossible ! It’s pure bull***************.

    It was said that it was the worstening spanish economical situation that was driving investors to buys thoses bonds knowing that the ECB would have to back them as promessed once spanish government would officily require help after passing a 6th austerity package while the 5th one got the country rioting !

    My opinion : the ECB is already buying spanish bonds undercover !

    • dianec

      @ Seb – same thing with our stock market. 13,000 + and look at our economy. Makes no sense.

  • Don’t forget trade goods for when you’re prepping: coffee, salt, booze, chocolate, even candy.

  • Bob marshall

    Greece’s situation coming to the USA.

  • NorthernCanuck

    …and The US will soon be following the EU over the cliff!

    I can’t personally confirm whether all of the allegations made in the following article are accurate or not but it certainly makes for disturbing and thought-provoking reading….

    (Obama)”Just Happened”

    “As I noted in the introduction to my book, The Obama Timeline, a jury at a murder trial will often find the accumulated circumstantial evidence so overwhelming that a guilty verdict is obvious—even though there may be no witness to the crime. “The jurors in the Scott Peterson trial believed the collection of evidence more than they believed Scott Peterson. Among other things, the jury thought that being arrested with $15,000 in cash, recently-dyed hair, a newly-grown goatee, four cell phones, camping equipment, a map to a new girlfriend’s house, a gun, and his brother’s drivers license certainly did not paint a picture of a grieving husband who had nothing to do with his pregnant wife’s disappearance and murder.”

    In the four years I have been gathering information about—and evidence against—Barack Hussein Obama, I have encountered hundreds of coincidences that strike me as amazing. None of those coincidences, by themselves, may mean much. But taken as a whole it is almost impossible to believe they were all the result of chance. Consider the Obama-related coincidences:

    Obama just happened to know 60s far-left radical revolutionary William Ayers, whose father just happened to be Thomas Ayers, who just happened to be a close friend of Obama’s communist mentor Frank Marshall Davis, who just happened to work at the communist-sympathizing Chicago Defender with Vernon Jarrett, who just happened to later become the father-in-law of Iranian-born leftist Valerie Jarrett, who Obama just happened to choose as his closest White House advisor, and who just happened to have been CEO of Habitat Company, which just happened to manage public housing in Chicago, which just happened to get millions of dollars from the Illinois state legislature, and which just happened not to properly maintain the housing—which eventually just happened to require demolition.

    Valerie Jarrett also just happened to work for the city of Chicago, and just happened to hire Michelle LaVaughan Robinson (later Obama), who just happened to have worked at the Sidley Austin law firm, where former fugitive from the FBI Bernardine Dohrn also just happened to work, and where Barack Obama just happened to get a summer job. Jarrett also just happened to follow Obama as a member of the board of the Joyce Foundation, where she served with Michael Brewer, who just happens to be married to Janet Brown, who just happens to be executive director of the Commission on Presidential Debates, which just happened to select four leftist members of the mainstream media to moderate the 2012 presidential and vice-presidential debates.

    Bernardine Dohrn just happened to be married to William Ayers, with whom she just happened to have hid from the FBI at a San Francisco marina, along with Donald Warden, who just happened to change his name to Khalid al-Mansour, and Warden/al-Mansour just happened to be a mentor of Black Panther Party founders Huey Newton and Bobby Seale and a close associate of Nation of Islam leader Louis Farrakhan, and al-Mansour just happened to be financial adviser to a Saudi Prince, who just happened to donate cash to Harvard, for which Obama just happened to get a critical letter of recommendation from Percy Sutton, who just happened to have been the attorney for Malcolm X, who just happened to know Kenyan politician Tom Mboya, who just happened to be a close friend of Barack Hussein Obama, Sr., who just happened to meet Malcolm X when he traveled to Kenya.

    Obama, Sr. just happened to have his education at the University of Hawaii paid for by the Laubach Literacy Institute, which just happened to have been supported by Elizabeth Mooney Kirk, who just happened to be a friend of Malcolm X, who just happened to have been associated with the nation of Islam, which was later headed by Louis Farrakhan, who just happens to live very close to Obama’s Chicago mansion, which also just happens to be located very close to the residence of William Ayers and Bernardine Dohrn, who just happen to have been occasional baby-sitters for Malia and Natasha Obama, whose parents just happen not to mind exposing their daughters to bomb-making communists.

    After attending Occidental College and Columbia University, where he just happened to have foreign Muslim roommates, Obama moved to Chicago to work for the Industrial Areas Foundation, an organization that just happened to have been founded by Marxist and radical agitator Saul “the Red” Alinsky, author of Rules for Radicals, who just happened to be the topic of Hillary Rodham Clinton’s thesis at Wellesley College, and Obama’s $25,000 salary at IAF just happened to be funded by a grant from the Woods Fund, which was founded by the Woods family, whose Sahara Coal company just happened to provide coal to Commonwealth Edison, whose CEO just happened to be Thomas Ayers, whose son William Ayers just happened to serve on the board of the Woods Fund, along with Obama.

    Obama also worked on voter registration drives in Chicago in the 1980s and just happened to work with leftist political groups like the Democratic Socialists of America (DSA) and Socialist International (SI), through which Obama met Carl Davidson, who just happened to travel to Cuba during the Vietnam War to sabotage the U.S. war effort, and who just happened to be a former member of the SDS and a member of the Committees of Correspondence for Democracy and Socialism, which just happened to sponsor a 2002 anti-war rally at which Obama spoke, and which just happened to have been organized by Marilyn Katz, a former SDS activist and later public relations consultant who just happened to be a long-time friend of Obama’s political hatchet man, David Axelrod.

    Obama joined Trinity United Church of Christ (TUCC), whose pastor was Reverend Jeremiah Wright, a fiery orator who just happened to preach Marxism and Black Liberation Theology and who delivered anti-white, anti-Jew, and anti-American sermons, which Obama just happened never to hear because he just happened to miss church only on the days when Wright was at his “most enthusiastic,” and Obama just happened never to notice that Oprah Winfrey left the church because it was too radical, and just happened never to notice that the church gave the vile anti-Semitic Nation of Islam leader Louis Farrakhan a lifetime achievement award.

    Although no one had ever heard of him at the time, Obama just happened to receive an impossible-to-believe $125,000 advance to write a book about race relations, which he just happened to fail to write while using the cash to vacation in Bali with his wife Michelle, and despite his record of non-writing he just happened to receive a second advance, for $40,000, from another publisher, and he eventually completed a manuscript called Dreams From My Father, which just happened to strongly reflect the writing style of William Ayers, who just happened to trample on an American flag for the cover photograph of the popular Chicago magazine, which Obama just happened never to see even though it appeared on newsstands throughout the city.

    Obama was hired by the law firm Miner, Banhill and Galland, which just happened to specialize in negotiating state government contracts to develop low-income housing, and which just happened to deal with now-imprisoned Tony Rezko and his firm Rezar, and with slum lord Valerie Jarrett, and the law firm’s Judson Miner just happened to have been a classmate of Bernardine Dohrn, wife of William Ayers.

    In 1994 Obama represented ACORN and another plaintiff in a lawsuit against Citibank for denying mortgages to blacks (Buycks-Roberson v. Citibank Federal Savings Bank), and the lawsuit just happened to result in banks being blackmailed into approving subprime loans for poor credit risks, a trend which just happened to spread nationwide, and which just happened to lead to the collapse of the housing bubble, which just happened to help Obama defeat John McCain in the 2008 presidential election.

    In 1996 Obama ran for the Illinois State Senate and joined the “New Party,” which just happened to promote Marxism, and Obama was supported by Dr. Quentin Yong, a socialist who just happened to support a government takeover of the health care system.

    In late 1999 Obama purportedly engaged in homosexual activities and cocaine-snorting in the back of a limousine with a man named Larry Sinclair, who claims he was contacted in late 2007 by Donald Young, who just happened to be the gay choir director of Obama’s Chicago church and who shared information with Sinclair about Obama, and Young just happened to be murdered on December 23, 2007, just weeks after Larry Bland, another gay member of the church, just happened to be murdered, and both murders just happened to have never been solved. In 2008 Sinclair held a press conference to discuss his claims, and just happened to be arrested immediately after the event, based on a warrant issued by Delaware Attorney General Beau Biden, who just happens to be the son of Joe Biden.

    In 2003 Obama and his wife attended a dinner in honor of Rashid Khalidi, who just happened to be a former PLO operative, harsh critic of Israel, and advocate of Palestinian rights, and who Obama claims he does not know, even though the Obamas just happened to have dined more than once at the home of Khalidi and his wife, Mona, and just happened to have used them as occasional baby-sitters. Obama reportedly praised Khalidi at the decidedly anti-Semitic event, which William Ayers just happened to also attend, and the event Obama pretends he never attended was sponsored by the Arab American Action Network, to which Obama just happened to have funneled cash while serving on the board of the Woods Fund with William Ayers, and one speaker at the dinner remarked that if Palestinians cannot secure a return of their land, Israel “will never see a day of peace,” and entertainment at the dinner included a Muslim children’s dance whose performances just happened to include simulated beheadings with fake swords, and stomping on American, Israeli, and British flags, and Obama allegedly told the audience that “Israel has no God-given right to occupy Palestine” and there has been “genocide against the Palestinian people by (the) Israelis,” and the Los Angeles Times has a videotape of the event but just happens to refuse to make it public.

    In the 2004 Illinois Democrat primary race for the U.S. Senate, front-runner Blair Hull just happened to be forced out of the race after David Axelrod just happened to manage to get Hull’s sealed divorce records unsealed, which just happened to enable Obama to win the primary, so he could face popular Republican Jack Ryan, whose sealed child custody records from his divorce just happened to become unsealed, forcing Ryan to withdraw from the race, which just happened to enable the unqualified Obama to waltz into the U.S. Senate, where, after a mere 143 days of work, he just happened to decide he was qualified to run for President of the United States.

    Obama just happened to save $300,000 on the purchase of a $1.65 million Chicago mansion for which he deposited only $1,000 in earnest money, while the seller’s adjacent empty lot which was appraised at no more than $500,000 just happened to be sold at the inflated price of $625,000 to Rita Rezko, who just happened to earn only $37,000 per year working for Cook County government, and who just happened to be married to Tony Rezko, who just happened to be Obama’s main money man for his political campaigns, and who only days before the Obama mansion purchase just happened to obtain a $3.5 million loan from wealthy Iraqi Nadhmi Auchi, who just happened to have been kicked out of Iraq, and who just happened to have been convicted of corruption charges in France, and who just happened to ask Rezko to ask then-U.S. Senator Obama to help him obtain a visa to travel to the United States.

    Rita Rezko just happened to borrow the money for the $625,000 empty lot from the Mutual Bank of Harvey, which just happened to be run by Tony Rezko’s pal Amrish Mahajan, whose wife Anita just happened to have been charged with fraudulently receiving $2 million in Illinois taxpayer dollars for drug tests never performed by her company, K. K. Bio-Science, which just happened to have a no-bid contract with the state, and whose computers just happened to disappear right before investigators arrived to take them away for evidence.

    Obama just happened to obtain a $1.32 million mortgage for his mansion even though the payments of $8,000 per month (plus at least $1,500 per month in property taxes) exceeded 50 percent of his $162,100 U.S Senate salary income, and even though Michelle Obama was claiming that she and her husband were still paying off substantial student loans and were struggling to pay for piano lessons for their daughters, one of whom just happens to look remarkably like one of the daughters of Malcolm X.

    Obama just happened to obtain his mansion mortgage from Northern Trust Bank, whose Board of Directors just happened to include Susan Crown, who just happened to be part of the wealthy Crown family, which just happened to donate to Obama’s campaigns, and which just happened to have ownership in defense contractor General Dynamics Corporation, and the Crown family just happened to sit on the board of energy company Exelon, formerly known as Commonwealth Edison, which just happened to have had Thomas Ayers as its CEO, and the Crown family also owned the Maytag appliance company, which just happened to move its operations to Mexico, after its employees just happened to donate to Obama’s campaign, after he just happened to pledge that he would keep their jobs in Galesburg, Illinois.

    In June 2005, just months after Obama became a U.S. Senator, Michelle Obama just happened to be named a “non-executive director” of the board of TreeHouse Foods, a supplier of Wal-Mart, for a salary of $51,200 in 2005 and $101,083 in 2006, and she just happened to be given 7,500 TreeHouse stock options, worth approximately $72,375, even though she just happened to know nothing about the private sector or running a business.

    In 2006 Obama pushed for a $1 million earmark for the University of Chicago, and his wife Michelle just happened to be promoted to Vice-President of Community and External Affairs for the hospitals with a salary increase from $121,900 to $316,962, and she just happened to receive public relations help from Obama’s political strategist David Axelrod, whose mother just happened to write for a communist newspaper.

    In 2006 Sarah P. Herlihy, an associate of the Chicago law firm of Kirkland and Ellis, whose employees later contributed $87,722 to Obama’s presidential campaign, and whose partner Bruce I. Ettleson just happened to be a member of Obama’s campaign finance committee, just happened to write a paper calling for the elimination of the “natural born citizen” requirement in the U.S. Constitution.

    Obama just happened to visit Kenya in 2006 to support his cousin, Raila Odinga, a Muslim socialist candidate for president, who just happened to have ties to both al-Qaeda and Libya’s Muammar Qaddafi, and who just happened to have been educated in communist East Germany, and who just happened to name his son Fidel, and who just happened to plan on establishing Shari’ah Muslim law in Kenya, and whose activities prompted the Kenyan government to lodge an official protest of Obama’s passport abuse and misconduct, and Obama’s actions just happened to have been denounced by the U.S. State Department as being in direct opposition to U. S. National Security, and after Odinga, for whom Obama just happened to have raised $950,000, lost the election, his Muslim followers just happened to burn Christian women and children alive in a church where they had sought refuge.

    In 2006 Obama endorsed Alexi Giannoulias in his race for Illinois State Treasurer and stated that he is “…one of the most outstanding young men I could ever hope to meet”—even though Giannoulias just happened to be only 29 years old and even though his family’s Broadway Bank just happened to finance Chicago crime figures like Michael “Jaws” Giorango, a Chicago thug with convictions for bookmaking and promoting prostitution, and even though virtually all of Chicago’s Democrat politicians were keeping their distance from Giannoulias, whose reputation was so questionable he even failed to get the endorsement of the Chicago Democrat Party—which just happens to almost never be concerned about questionable reputations.

    Obama’s mother, Stanley Ann Dunham, once worked for the Ford Foundation’s Asia program, which just happened to be run by Peter Geithner, who just happened to be the father of Timothy Geithner, who just happened to neglect to pay Social Security taxes on much of his income, which just happened to somehow qualify him to be Obama’s Treasury Secretary.

    During the 2008 campaign Obama’s passport records just happened to have been illegally searched by an employee of a firm headed by John O. Brennan, and Lt. Quarles Harris, Jr., who was cooperating with federal investigators in connection with the incident, just happened to be found with a bullet in his head, and the murder just happened never to be solved, and Obama later just happened to make Brennan his terrorism and intelligence advisor.

    On election night in 2008 in Chicago’s Grant Park, Obama just happened to wear a black suit and a red tie, and his older daughter just happened to wear a red dress, and his younger daughter just happened to wear a stark black dress, and his wife Michelle just happened to wear an arguably unattractive black dress that appeared to have a giant red X design, which just happened to prompt some to wonder if their clothing just happened to denote black power, communism, and Malcolm X, and at the very least prompted others to wonder why anyone would have his daughter wear a jet-black dress for a celebratory occasion—or where one could even just happen to find a store that sells black dresses for little girls.

    From election night forward there are hundreds of other “just happeneds,” not the least of which is the long-form birth certificate released by Obama in April 2011 which just happened to consist of multiple image layers, including various objects which can be separated and rotated with computer software—which just happens to be impossible if a birth certificate is merely scanned and not computer-constructed by a forger.

    Oh, and Obama just happened to have used more than one Social Security number over the years, and one of them is associated with 713 Hart Senate Office Building and starts with the digits 282, which signifies issuance in Ohio, a state in which Obama just happened to have never lived or worked, and another Social Security number used by Obama starts with 042, which signifies Connecticut, another state in which Obama just happened to have never lived or worked, and it just happened that no one in the mainstream media has ever bothered to ask Obama why he has used multiple Social Security numbers or why the 042 number comes up as invalid in the E-Verify system used by employers to confirm whether immigrant job applicants have valid numbers.

    I could go on… but you get the idea.

    Don Fredrick

    September 30, 2012

    P.S. If Obama just happens to win reelection on November 6, remember that hyperinflation just happens to be the inescapable consequence of printing trillions of dollars to cover massive government deficits.”

    • paul
    • uncle bill

      NC you are usually very to the point and make a good point, but that massisve manuscript amounted to one big so-what. What is the point? Obama is from the left, yes hes a democrat no surprise. He mixed with all sorts of people from the left, yes so…, He had strings pulled and favours done. Ok how else does one become a president, I doubt you would raise any eyebrows about a Bush or Kennedy having obvious connections. And he has occasional convenient lapses of memory. What politicin doesnt?

    • AliBongo

      I just happen to know quite a few people, and if you include all the people they just happen to know, and do this five or six times, you just happen to have some kind of connection with everyone in the entire planet. Not that I’m saying Obama is Mr Innocence – you just need better evidence. Think about it. Start with your local so-called political representative, or Chief of Police. Who do these guys break bread with? Take it from there. By this process you can smear anyone, with anybody.

    • NC -just a wee arachnid web…

  • anduin

    well this is what you get when you decide to build the golem.

    greece, spain, italy, portugal, et al, now lack a sovereign currency that can be manipulated, they have sold their short hairs to some banker somewhere who i will guaran**********tee you aint got one dime in euros anywhere to be found.

    when you sell your soul to the devil, be not surprised when you end up dancing in hell.

  • got propaganda?

    The media says the economy is on fire and dear leader, the majestic messiah, the savior of the earth will make it so with his magic scepter. The media wouldn’t lie to me. I couldn’t help but notice how cheap gas and groceries are here in the golden hopetopia, the collective paradise.

  • One of Albert Einstein’s famous definitions really sums up the solutions offered by the EU as the means to avoid an economic collapse.

    Einstein defined INSANITY as: “doing the same thing over and over, and expecting a different result”

    That makes the outcome of everything the EU is currently doing a pretty foregone conclusion.

    There are ways to fix the system:

    1. Stop private banks from creating the money supply.
    2. Allow failed banks to go to the wall – that’s how capitalism is supposed to work. If banks make bad loans it’s not the job of the tax-payer to cover their losses.
    3. Switch to full-reserve retail banking using the country’s asset base to back the currency. Bank can still continue to gamble, but only with their own money, not fractionally leveraged money.
    4. Get rid of the Bond market.
    5. Make sure QE releases are used to invest in the ‘productive economy’ instead of just propping up failed banks and bolstering their private reserves, plus giving them more public money to fractionally leverage and gamble with.
    6. Get rid of income tax, VAT and corporation tax, and replace them with an electronic transaction tax.

    Those are just six good ideas suggested, that economic models prove time and again would work. What though, have the EU decided to do? APPROVE MORE OF THE SAME, TRIED, TESTED AND FAILED METHODS!

    If that doesn’t prove beyond doubt how incompetent the policy-makers in the EU are, and how INSANE the system is, I really don’t know what does!

  • Mondobeyondo

    But wait, there’s (no) more!!

    Isn’t the United States the largest economy in the world?
    No, it isn’t. Not anymore. We used to be.

  • Obama’s minister Jerimy Wright once said in a prayer (and I quote) “You say God Bless America, I say GOD DAMN America”.
    Looks like Obama and his minister get their wish, their hope, their dream and their prayer answered, Thanks to Barack.
    I just hope they are proud and happy with themselves, to kill, mame and cripple so many innocent people, Men, Women and children.
    Hell on Earth is Coming, Prepare!

  • linda

    The countries in the EU all have their own, unique issues. You can’t paint with a broad brush.
    Greece no doubt has screwed itself pretty good. But Spain isn’t in trouble for the same reasons Greece is…they actually had a good economy, but suffered from the housing collapse.
    Austerity is a load of hogwash! It is an idea to force the people to assume all responsibility for the mess caused by overly-complex financial shenanigans so that those ones can keep collecting as much on bad debts as they can grab before everything collapses.
    But you all go ahead…keep blaming the “great unwashed hordes”, keep your eyes peeled for all those “socialists” under the bed…
    But please let me know where you are hiding your food cache…as a survivor who can’t tell friends from enemies, you probably won’t be around long enough to eat it all.

  • john jackson

    Thanks again Michael. You have to be insane not to think this is moving West and will hit the US sooner than we think. In fact the US is in worse shape than Europe. However, history has shown that events like this also create amazing investment opportunities and transfers of wealth. Be on the smart side of this equation and learn how to thrive in the years ahead:

  • Ray

    Michael, you never write about Japan’s debt problems. Why?

    • Michael


      You are right – Japan is on the verge of major problems as well and I should write about that more.


  • Stu

    Just give me the Social Security that you’ve taken from me over the years, not a penny more…cut me a check and call it good and done!

    That’s what they need to do for everyone!

    The system is no longer sustainable, here’s what you’ve contributed…Good luck to you!

    Will it ever happen?

    Probably not.

    They’ll keep sucking the well till it all collapses and there will be nothing for no one!

    Such a crock…d@mn thieves!

  • Peter

    Why do these counties still import from Asia? The ONLY way out is to produce goods they need themselves.

    • paul

      Why do governments still buy guns?

      That’s where all the wealth goes.

      The money goes from your greatgreatgreatgreatgrandchildren to the shareholders and the ammo is blown up in Afghanistan, probably killing your son.

  • M. Hapney

    Most people are not aware that in the 1880s the victims of banker greed would drag them out of the bank onto the street and hang them from the light posts.

    Just a little known fact deleted from the history books for good reason.

  • Whizerd67

    Give a man a gun, and he may rob a bank…give a man a bank, and he will rob the world!

    ~Blessed Be to all~

  • Virginia

    The economy of Europe relies heavily on tourism. It has been a mainstay to their economy from time immemorial. You would think that during these crushing economic times that they would ramp up their tourism marketing and make it affordable/attractive to people to travel and stay in the eurozone. From what I have seen, it is quite the opposite, prices are higher than ever at travel websites. These are strange times indeed.

    • paul

      oh, Germany has reduced the VAT for hotels a few years back. But getting a visa is still complicated. It’s far easier to go to Germany as illegal immigrant than as a tourist.

  • Warren

    This is all work of US’s central banking system (FED), with intention to destroy competition in behalf of US imperialism and hegemonism.

    In Europe, fields are there, olives grow, fish is in the seas and only think needed is to do connect dots. Unfortunatelly, as central banking wants, money is needed (people are actually not allowed to work without monetary stimulus, to do basic thing which people do for millenia – work.


    • paul

      Interns are allowed to work without getting paid. Unfortunately they die if they can’t buy food.

      Someone needs to tell the farmers not to be greedy and give away their food for free so that businesses can make more profit.

  • Timo45

    I agree with angry white man. Because i’m an agree black man that understand its the banks. We have been lied to all our life and we need to point the problems to where it belonges. Like Andrew Jackson said they will rob and pilliage us for everything we have. And thats what the banks are doing. The stupid politicians need to be removed from government and put those who will fight for interest free money. Silver liberation thats what i’m apart of,its time for all to join in so we can live off of real money.

    • Eisenkreutz

      True that.

  • paul

    So where is the market of Greece? Where are the entrepreneurs? Why does everybody scream for the state to come to the rescue and for the tax payer to cover the losses?

  • RainyDay

    Hi, this is my first time posting here. I need some advice. I currently live in a mountain community of 60,000. Lately I’ve been considering moving back to the city (a 2 hour drive away) because I miss family and friends. It’s hard to get to know people here for some reason. Anyway, I feel safer here if things really start to get crazy in the cities, but I feel kind of lonely. Should I move back to a rather large metropolis to be close to family or stay in the mountains?

    Also, do you guys really truly think that something big is going to happen in the next year or so? I get the strong feeling it will but then sometimes I wonder if I’m over reacting? Please help. Thank you.

    • Mondobeyondo


      Everyone has their opinions on what will happen, these are mine:

      1) If things start going down, find a way to get your family and friends out of the city. The city would be the worst place to be. (riots, gangs, etc)

      2) Yes, something big is definitely going to happen. To give a timetable would be foolish. I don’t know WHEN it will happen. World events, political and financial crises, etc. dictate that. But I do know it WILL happen.

      3) No, you are not overreacting. It’s the general population that is underreacting. They are clueless. They can’t see the forest for the iPod5’s.

    • Eisenkreutz

      Stay out in the country. Talk to people. Making friends is easy.

    • RainyDay

      Nevermind. Cancel the request for help in deciding. How ignorant of me to ask complete strangers online than going to God and asking.

      • RainyDay

        I wasn’t trying to be rude by saying this, I just believe one should ask God for direction first. Thanks to everyone for the good advice. I’m very close to family and miss them but like one of you said it might be good to be a place for them to escape the city.

    • paul

      my friend uses facebook to stay in contact with family and friends around the world. And sometimes he gets the train to visit them. And I take the plane to visit my family .

    • GSOB

      Rainey Day,

      Get with your friends and family, even if it is in the city where SHTF will spread from, … there is strength in numbers.

    • wikiderm

      Don’t worry about lonely.
      When the SHTF, expect calls from your friends family looking for food and shelter outside their city.

    • ben

      I’d say stay and have a spot for your family to come; If they wont come, then go to them. I can’t imagine facing hard times without my family. Talk about it with them, that is what families do. I think it will hit sometime next year. Hard to say overall though. Hope all goes well for you.

      God Bless

    • CJ

      Only you can make that call. Family is important, however, home is what you make of it.

      I can only speak for myself. I live in a decent size city (300,000’ish). I’m looking for a remote place to escape to, if for no other reason to relax and recharge.

      When things go south, they will in a rapid succession. That could be a week from now. It could be years. Do not fall into a trap of any one person “knowing” that answer.

      Ask yourself why you’re having trouble gettin acclimated to the small town lifestyle? Smaller towns tend to be wary of outsides until they get to know you. This is one of their greatest assets if you ask me. Find out when community functions are. Council meetings and community events are great ways to get recognized and ultimately accepted. Start small, the local gas station or grocery store for example and make it a point to go in often so you can meet and greet the locals.

      You are an outsider. Stop acting like it. (note: You very well could be doing these things. Keep in mind that regardless of what politically correct Bravo Sierra you may have been fed in the big city, in the real world things work differently!)

      With all that said. Do I really believe problems lie ahead. Yes. I cannot speak for everyone but I prep so I don’t have to worry. There is a sense of relief knowing my family can survive for a minor to major event.

      I’ll leave you with this last thought. I was asked one time by one of my employees why I carry a gun. (I have a CCW permit and have for most of my adult life.)

      My reply is/was and forever shall be, better to have it and not need it, than need it and not have it. The same goes for what we discuss here. Prepare and what’s the worst that could happen?

      • RainyDay

        Thanks for the advice. I’ve lived in small towns before and acclimated fine. I think the reason Im having a harder time this time around is because I pretty much just work all day and come home…cook, cleanup and go to bed. Then on the weekend I do stuff around the house and go to church. I don’t go out and drink or stuff like that. I’ve gone to this church for 2 months and it’s on the larger side…I don’t know maybe I’m a little bit of a loner. The people I have met are so very caught up in the matrix so to speak. I just want to meet real down to earth awake people…good people. Maybe I’ll join a local gun club or something….

    • uncle bill

      Stay high and dry rainy day, pun intended.

  • Irritable

    This is just so wrong on so many levels. Spain is supposed to be a first world country and people are digging through trash? These are the European people, they are the ones who have invented great things and made great discoveries. Even my husband who is native American agrees that the Europeans are a great people and it is despicable that they are being reduced to eating trash. Having some Spanish background I find this very alarming. What is coming next? Imagine, if Europeans, a proud and intelligent people are eating out of trash, what is coming next?

    What’s even more disturbing is the general ignorance of people in general. I don’t live in the USA right now and was taking a taxi driven by an Iranian man. He kept saying how he doesn’t understand why people complain about the large influx of immigrants of people to first world countries. I didn’t say anything but just listened to him babble about how we should all embrace immigrants. Meanwhile the USA and Canada continue to not check the unabated flow of them into our countries while the jobs aren’t even there. Did you know that many immigrants who come to Canada have to go on welfare because there are no jobs for them? And if there are jobs they have to compete with native born Canadians for them. Nearly the same situation goes on in the USA.

    The world is going to hell in a handbasket.

    • Crusader2010

      The USA will look like Britain soon. But the Government will be a lot more dangerous to it’s citizens. indefinite detention without trial, drones, secret assassination lists, and the list goes on and on.

    • RainyDay

      Well the US is a first world country and people have to dumpster dive for food here too. Are the Europeans so high and mighty that they get extra pity? Oh poor Spain…poor poor Spain. Now they any afford designer $2000.00 handbags and leather shoes.

      Sorry, but they don’t get any more sympathy from me than the next poor person just because they’re Europeans!

    • paul

      Check out the UK .

      The National Health Service has to accept anyone without regard of where he lives or where he comes from.

      Anyone in the world can come to England and get free medical treatment. Isn’t THAT amazing?

    • uncle bill

      your experience should answer your question. Other than aboriginal (native ) peoples, earlier immigrants conveniently forger they were immigrants themselves when new waves of immigrants from different war torn countries arrive. Vietnamese boat people cme straight after we invaded and destroyed their country for over ten years and we think they have no right. Now afghan refugees the same way, we invade and destroy their country for ten years and complain when they come as refugees.

      As for the iranian taxi driver, he is driving the taxi because he is competing for jobs australians and americans dont want to do.

  • paul

    Watch the disease information of the CDC. With more people out of work and more people being homeless and living in squalor, and getting not enough nutritious food, diseases will have it easy this winter.

    Staff everywhere is thinned out. It doesn’t take much to shut down companies and government organisations completely. A few people here and there, the electricity supplier, the water company, the traffic controllers, air traffic controllers, and the country comes to a standstill.

  • irish spring

    biggest problem facing europe is revolution, the arab spring will be a walk in the park compared to the eu spring. one flash point is all it’s gonna take (inflation). if you’re planning a european vacation next year,cancel it (now)

    • paul

      oh well, people don’t have guns in Europe. Revolution means strike, demonstration, political and economic pressure.
      If you don’t watch the news during vacation, you’ll hardly notice anything.

  • Rufus T Firefly

    Chickens coming home to roost, TheEuotrash is reaping the whirlwind. This time, stay out of their wars, unlike Wilson in 1917

    • Eisenkreutz

      Wilson financed and provided millitary assistance for the Bolshevik revolution.

  • Brian

    civil war will erupted if you take away govt bennies I hope mitt will win so he can do away with the FBI HOMELAND Security and the border patrol he will have a mess on his hands he thinks like a king and acts like a king but a king dose fall and fall hard the united states of america will no tolerate the rich rulling over its pepole because the rich will fall and fall hard I will just stell to surivie i make 9 per hour without any form of welfare I would be without food or shelter at 1200 per month that is just the rent check here in Los angeles and if your hours are cut it is the street

    • Eisenkreutz

      You schmuck. You moron. Its not the rich. Its the bankers. You Bolshevik rats are gonna starve to death like you should have in 1917 before you hurt innocent people.

      • paul

        But only thr poor bankers, right? Rich people are not innocent. They let poor people generate their wealth, supported by law and order.

    • Crusader2010

      Get out of LA, The big cities will be the first to fall! food will become scarce fast. Then the looting will start. as with most liberal states the majority of the ones with firearms are the criminals.

  • Bryan

    how can anyone not notice this is what is talked about through the prophet daniel and the book of revelations? remember the book the nation was founded on? what our founding forefathers put their trust in that made our nation prosper becouse of the promises their within from a faithful God!!! but we have become unfaithful and our land is over ran with sin and unbelief…NOT 1 comment on here was about this as micheal has explained through so many different aritcles WE ARE! and it is unstoppable heading towards a one world government, economy, relegion! can’t you see it? Jesus said about the times that are coming that if those days where not cut short NO FLESH! would live! PLEASE START READING YOUR BIBLE AGAIN WHILE THERE IS YET TIME!!!!! PLEASE GOD LOVES YOU!!!!

  • Mondobeyondo

    A. Are we going to make it?
    B. Make WHAT?
    A. That’s your problem in a nutshell.

  • Crusader2010

    Face it, or don’t face it, I don’t care. Socialism does not Work. Never has never will. Germany will get tired of sending it’s funds to the rest of the EU, Britain needs to divorce it’s money from EU control. And the USA needs to stop printing fake dollars.

  • Bill Goode

    Why don’t we hear anything about Portugal? Is it because the Portuguese military threw out the bums in the government, as I heard in a rumor? So is Portugal actually recovering? I don’t really know, but haven’t heard anything about it in months.

    Has Portugal actually gone the way of Iceland? Or the the Portuguese collapse overshadowed by Spain’s collapse?

  • paul

    I believe those who stay in jobs are not better off. They come increasingly under pressure. And if they didn’t save a penny they really need the job to survive.
    They get sick and they won’t see the doctor.

    It’s like a car without oil change driven faster and longer every day.

    • uncle bill

      really good post paul, very true. Exactly as I see it, just so hard to get anyone to get it.

  • Liam

    It is not socialism that is to blame here the fact that corruption runs so deep within the banking industry and the money from the people has been robbed from us into the hands of the greedy few, who horde or the peoples wealth for there own agendas of control and power this has all been engineered by design we are heading into a world of complete control. If all the wealth was taken from the Billionaires we could pay of all those fake loans that where created to screw the hole system anyway,the game is up and the final pieces are been put into place and the Fascists of the world will rise once more to try and take control for themselves and bring about there New World Order out the chaos which they created.

  • John Gaines

    Of course, we all who are in the so called “know” of things to come and will try to make those who aren’t, understand what is to come and the sequence of the Civil War that is already underway by those who wish to deflate the enconomy of the United States to make it a third world country by means that is of Satanic and Evil means. With a deflated economy blacks and hispanics will suffer as Obama knows and will make them war against those who have earned what they have. This is his plan all along. It is his and the socialists plan to destroy Capitalism, where if you want to get ahead, so to speak, earn what you can, and not to be a subject of your dictator, be paid what they think you only need and get from their government a check for your food, housing, medical, ETC., as they see fit, basically they own you. No voting, no will, no free speech, government owns everything, then you are a peasant, a subject of the master, the dictator, no will, no ambition, no future, just total apathy.
    This is not a state of free people, but rather a jail, prison, and a kept people! Is that what you want? NOT ME!

  • Siegfried

    Here in Germany in September the nemployment rate went down to 6.5 % from 6.8 % in August.

    German GDP grew 3.0 % in 2011 and 0.9 % in 2012.

    German exports rose to 90.1 bln. Euros in August 2012 – this is 5.8 % more than in August 2011 and 2.4 % more than in July 2012.

  • RealityBetraysUs

    I don’t understand why socialism for the common man is described as “evil” in the form of food stamps, and welfare, but when the ultra rich banksters and gangsters on wall street get it in the form of 700 billion dollar bailouts, it is now no longer welfare but quantitative easing and when it does not work the few few times, now they want to do it to infinity…
    Cut the bullshit, the rich are just as greedy and unscrupulous and anyone else trying to get handouts from the government. I do not blame the common man when he needs a helping hand, the middle class were not the idiots that destroyed jobs in the US and sent them overseas to China India and Mexico with Nafta. The only ones benefiting from globalization are the ultra-rich 1% that can afford to build factories in China, they common man has gotten totally screwed by globalization, NWO and suicidal trade polices. Dont’t blame the ex-middle class for
    being dependent on the government, the ultra rich caused this problem, let them pay for it with higher taxes, just like the last depression they were taxing the ultra rich at 97%, lets do it again.
    It is the least the gov. should do…

  • oleguy

    The root of the problem is countrie’s in the Euro cannot devalue their money like we do in the USA. when did these problems start to surface? Well when countries like spain, Greece, Portugal and other entered into the European Monetary Union. Countrie entering into the union no longer had soverign control of their monetary system. The ECB can devalue but the PIIGS and now France cannot.

    The USA actually shifts its money around to support the poorer states. Soverign countries in the EMU do not want to do this. So producing countries that actually profited from this Euro do not want to help the consuming countries even though they profitted from the system. Nothing will change in Europe until they establish uniform standard across national borders. Countries where the retirement age is 67 do not want to support countries where the retirement system ranges from 50 to 67 will not work. There is a myriad of prblems that must be solved. Here in the USA we solved them years ago. But there is a race to the bottom and it is happening as currency wars. Thus the reason why items we buy cost morre here in the USA. We are also the world reserve currency and as more and more countries try to do trading in their own curencies the fear of a real war scares me. We back the world currency with protection and enforcement of the oil trade with our military.

    Like the military of not they are no longer a defensive force. Take them away and the world will be a totally different place. Our military is the main reason we still are the world’s reserve currency. Most countries are tired of us exporting our inflation to their countries. Europe at one time stated they were going to be the new world reserve currency and have nothing to back it up.

    The PIIGS and France have indeed run out of other peoples money to keep their utopias running. But no longer.

  • Stanley

    The U.S. Federal Reserve was created in SECRET in 1913. The same year they created the IRS and Income Tax, to pay the interest on the Credit and Money printing that the Fed. Reserve was given license to do. THERE IS NOTHING FEDERAL OR GOVERNMENTAL about the FEDERAL RESERVE. It is a group of PRIVATE BANKERS CORPORATION – CABAL that is the SAME GROUP OF BANKERS THAT CREATED THIS MESS WITH MONEY PRINTING AND FORECLOSURE FIASCO.
    Here art the list of 1913 year Bankers that made up Federal Reserve.
    1913 – Federal Reserve.
    1 = Rothschild of London & Berlin
    2 = Warburgs of Hamburg Germany
    3 = JPMorgan of NY
    4 = Lehman Bros. of NY
    5 = Kuhn-Leob Co. of NY & Germany
    6 = Goldman-Sachs of NY
    7 = Israel Seaf of Italy
    8 = Lazares Bros of Paris
    9 = Rockefeller Brothers of NY
    These BANKSTER are all in business today, maybe under a different name.
    Citicorp/CitiBank is Rothschilds, and Bank of America are the Rockfellers, JPMorgan Chase are themselves.

    Their LEASE for printing money and credit under the Federal Reserve Act was for 99 years. Do the math. 2012 – 1913 = 99 years.
    Their lease expires this year, so they have to Crash the Petro-Dollar this year.
    Dec. 31st 2012 is when FDIC ends 100% protection of deposits. GET YOUR MONEY OUT AND PUT IT IN CREDIT UNIONS.
    Look what happened to MFGLOBAL & PFG Segregated customer accounts, they both had their moneys pilfered by JPMORGAN CHASE.
    The EURO was created to help and precipitate that crash.
    It will not be a transfer of wealth, it is a THEFT OF WEALTH.

    ONCE the EURO CRASHES VIA THE “DERIVATIVES MARKET”, it will pull down the Petro-dollar aka Dollar-Reserve-Currency.

    in 1973 NIXON TOOK the U.S. dollar off of the Gold Standard, however he got Saudia Arabia to agree to trade all of their oil for only DOLLARS WORLD WIDE. Hence the term Petro-Dollar or Dollar-Reserve-Currency, IN EXCHANGE for military protection in the OIL rich gulf region.
    Saudi’s were also told to use ONLY U.S. companies for infrastructure building, and any excess funds to buy U.S. T-BILLS / Treasury Notes or Bills.

    So the U.S. later told the same thing to the Japanese. Japan, you want “Made in Japan Cars and Electronics” sold in the U.S. market. No problem, we will let you in, you buy T-Bills also.
    Fast forward to China, “Made in China goods and Electronics” sold in Wal-Mart, Target, Sears and Sams Club and Costco, no problem Buy T-Bills.

    Now when the Banksters crash the Dollar, they will screw all these countries and any Mom-Pops holding T-Bills.
    The new currency will be like the Euro, called the AMERO, backed by GOLD/SILVER and part of NAFTA with Canada & Mexico, AFTER they BEN BERNANKE crashes the Dollar.

    To do that, Banksters paying OFF Panetta, Hilary Clinton, Kissinger, Rumsfield, Condoleeza Rice, Dick Cheney, Daddy and Son Bush, Wolfowitz, John Yoo, Obama-Rama, Romney, and Gore, need to start WW3 with Iran.
    So this will jack up oil prices to $200 per barrel of crude and gas to $30 per gallon.
    This will cause HYPER-INFLATION & HYPER INTEREST RATES which will collapse the bond market / stock market and CRASH EURO & PETRO-DOLLAR currencies VIA THE DERIVATIVES MARKET PONZI SCHEMES.

    THE SOLUTION IS THE “ICELAND SOLUTION” do what they did and in less than 2 years their problems are over and they have recovered. Put the bankers in jail and throw the politicians in jail and the rest out of office.
    Take care of the people first and give the bankers the left over.


    • paul

      Wikipedia does not mention the 99 year lease. Can you add it and also the source?

  • blueridgeviews

    When the gov’t runs out of money (productive [people’s tax money) then the people that rely on said gov’t run out of money. The fact that austerity from the gov’t could cause such economic contraction just proves my point and Margarette Thatcher’s. It’s all fine till you run out of other people’s money.

  • PUNT !

  • Jaesun

    It seems that a lot of people think that political and bureaucratic leaders are trying to remedy global economic conditions. That is a false assumption.

    Many major countries have been bankrupt for many years (including the US) and are completely owned and controlled by globalist bankers who are engineering the eminent economic collapses with the help of government officials. Their ultimate goal is a New World Order.

  • Roger

    Europe is paying for about 100 million non-european immigrants since they are on welfare, most of them are muslims with large families. The cost is staggering but liberal europe falsly assumed they could afford to feed them, now the *********** is hiting the fan, Europe would be able to make it without the 100 million from africa and the arabworld. Sent the welfare cases back and try again without liberals in charge.

  • CJ

    I swear, if I didn’t know any better, there are a ton of left leaning socialist people coming out of the woodwork lately.

    This used to be such a nice neighborhood too.

    • paul

      What’s wrong with different opinions? The left are historically against the establishment. You really need more active political parties. Reps and Dems can’t solve the problems they created.
      Get the greens in to create more and new jobs.

  • Rowell

    Okay, here’s an honest question. If governments are bailing out banks, and the citizens eventually bear the brunt of the costs of those bailouts….why not just give the money to the people that have loans with the banks, have those people pay off their loans by then giving the money to the banks? Everybody wins. The people are debt free, the banks get their infusion of cash.

    The way it’s going about now, wher money is just given to banks, it’s not working. In the US, the Fed gives out billions/trillions to banks…..who then hoarde it, or park it back at the Fed just to collect higher interest rates.

    • JK

      Exactly. Bail out the people first, and you automatically bail out the banks.

    • paul

      The same happens in Greece. The money they get from Europe is used to buy tanks from germany.

    • Terry Fraser

      Give money to the people? surely you jest. Thats against everything politicians believe in. They give it to the banks, we default on our mortgages/loans then the banks get it all.


    Too much debt…Will we continue to borrow and bail out every loser in the country, and give the bill to our kids….Are we going to bail out California, Illinois, and the rest? When will this stupidity end? The public sector promised THEMSELVES all of the benefits, why should those contracts be honored by the private sector? STOP THE MADNESS NOW….

  • What the financial sociopaths (bullies with means) couldn’t do via world war, they’re now trying to do via finance. If an old book published in 1889 explains what’s happening now, then it’s obvious little changes. It just looks different because we’re stuck livin’ through it.

  • Hi!,Patrons Of The Economic Collapse Et Al:

    One thing I’d like to say & that is at least we’re begining to show some real concerns regards what’s happening around OUR little world today. Congratulations to everyone for your cncerns.
    When we get sick enough we finally acknowledge we need to be hospitalized as the patient we have become right on & so we have a very sick economic patient all over the world looking too for a cure for what ails it. As with all sick patients it takes time to diagnose all the symptoms that lead to a treatment. Our economic illnesses are going through that kind of trauma right now but nothing I’m telling all of you does a patient more good than to know others are concerned for their geting over their sickness. In time we will find OUR solutions and we will heal our economic wounds too but, in the meantime everyone here, thanks for all your concerns in helping to define the patients’ illnesses and help diagnose solutions for the patents’ total recovery. The patient after all is only sick and needs TLC to recover right? No matter how bad the illnesses become, the recovery process will inact a recovery sooner or later but of coarse the soone the better, because we all desire to get on with our lives knowing our patient has recovered totally to our satifaction and th patient eventually will mend. In the meantime our TLC & prayers can’t hurt can they? The Lord has told US to fear not, because it is OUR heavenly Father’s good pleasure to give US the kingdom (of love) and, following the diplacement of OUR fears, to ask that OUR JOY may be full. The patient will be fully recovered; once all our fears are dispelled & we are full of His JOY unspeakable. It will happen in time; just you wait & see!!


  • robert

    Lyndon LaRouche was right and the only answer is a New Deal and a new bretton woods policy. Also a New Glass Steagall Act of 1933 called HR1489! The Super Rich are going to fight such measures tooth and nail every step of the way and deny that LaRouche even exists! Do you want recovery or the madness of austerity measures my fellow human beings? Do you want to break the hold of thieves and the self righteous Super Rich who are in love with their own stupid pathetic image? They are unremarkable and destructive and no more deserving of life than you my fellow human beings! They will either join us and survive or they too will perish in their own blood.

  • It doesn’t matter what it is communism ,socialism , fascism ,feudalism,democracy,tax and spend ,austerity. No matter what type of government or economic system you have or what tactics you use. Man was not meant to rule over man and all economies will eventually collapse.
    They are other factors at work here such as Karma. Europeans have tried to conquer and exploit every single piece of non European land they could get their hands on. Of course they are going to have to pay for their crimes eventually. The same as anywhere else.

  • Sanem

    just a small note on the article

    I live in Belgium, and while protest do get some attention, it is not really front page material. most people completely ignore it, and forget it easily

    that said, there are clear signs that even in my country (which is loaning at lowest interest rates ever) things are starting to go bad: more and more people are unable to pay their bills, credit lending is greatly increasing, and there is the realisation that our social programs and public jobs are becomming unaffordable (with the subsequent cuts and strikes as a result)

  • Gary

    It Is very simple to solve the crisis.I can’t believe we are letting them do this to us.All government has to do is put incentives in place to get people back to work.The problem is that money has got to get to the people.People pay the mortgages,they deposit money,they buy things with extra money.if we can employ 5% more workers the economy will get better.Jobs are the solution.Why cant we do this?Jobs first,economy recovers,everything is ok.Da,Why cant politicians see this?

  • Washington

    1929 : The Great Crash.

    Examining the causes of the Wall Street Crash, when the US stock market lost a third of its value over six desperate days in October 1929, causing the loss of more than $25billion in individual wealth. 3,000 banks later failed and took investors’ savings with them. People who lived through that turbulent period describe the biggest financial catastrophe in history.

  • therooster

    The root of the global problem is a 4 letter word called “DEBT”. It’s ingrained in the genesis of the fiat debt money system. It cannot be healed with more debt. The purging of debt requires assets in circulation to support global liquidity, while also allowing for the removal of existing debt. Precious metals, now that they trade in real-time are the only logical choice.
    Gold is money.

    The big monetary picture is not about moving from debt based to asset based currency, although this is a subset of our challenge. It’s really about going from FIXED bullion (as money) to real-time (floating)bullion (as money) with the development of the free floating currency system in-between. The ultimate role of the USD is not that of a currency. It’s ultimate role is that of a real-time measure within a real-time gold-as-money paradigm. The dollar’s role as a currency is but a stop-gap measure until the market wakes up and completes it job of monetizing bullion, bottom-up. Follow “the script.”

  • KoreaKid

    When you keep throwing money at the problem and and rather than use it to pay your bills; you spend it to create more debt you have a problem. In the US, when states were given money to pay some of their bills and cut back on spending did they do it; no, they hired additional teachers or other government employees when they should have been downsizing to something we as tax payers can afford. I only wish I could run my household the way the government runs this country, I would have a mansion, several new cars, servants and not pay for any of it!

  • Ron

    I read where the average greek owes 32000 per person and the average american owes morelike 34000.So the usa is in worse shape than greece.We print money and live on debt.ours is a house of cards kept up with lies and smoke and mirrors.16 trillion means your broke,people have just gotten so used to big numbers it almost means knothing to people.

  • Ron

    I recommend a site called Lookup the economy video,its long and the first part is weird,but watch the whole thing,its worth it.Explains a lot.

  • Carlos

    No se por que hablan tanto de socialismo. Aquí en Europa lo único que hemos hecho es seguir e implantar el sistema financiero anglosajón de London City & USA.
    El sistema bancario y monetario en EU nada tiene de socialista. Al contrario. Por que de lo que se trata es de una crisis de la deuda bancaria. La banca ha prestado mucho dinero a quien no podía devolverlo. Personas, empresas y estados enteros.

  • Maxwell

    Governments need to give people incentive to work rather than taxing those that are working to pay for those that are not. In countries where the tax rate is low such as Hong Kong and Singapore, people have good work ethics as they get to keep most of the fruits of their labour. In high taxing countries such as Australia, it is not worth working once you get to the higher tax brackets as alot of your efforts go to fund government coffers. If they used the money wisely, it would not be so bad, but they waste it on useless projects to advance their own political gain and not for the benefit of their people. The Unions are the Mafia in Australia. There is so much corruption, you would not believe it – just ask anyone in the construction industry.

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