Very Real Danger of Collapse: “Could Be So Severe I Don’t Think Our Civilization Could Survive It”
Mac Slavo
SHTFPlan.com
July 18, 2012
The single most important factor responsible for fueling the last several decades of economic growth has been credit expansion. Whether it’s central banks lending money to large financial institutions, or private banks dispersing funds to businesses and individuals, our lifestyles simply would not have been made possible without it – builders couldn’t build homes, manufacturers couldn’t acquire raw materials, and consumers wouldn’t be able to consume. Living in a country whose currency happens to be the reserve trade instrument for the entire globe has had its benefits. We’ve built huge homes, enjoyed healthy diets, taken luxurious vacations; we’ve even exported menial jobs that no civilized members of society would ever engage in to third world labor camps.
In the process we’ve expanded our national debt to unprecedented levels, with some estimates suggesting that our total liabilities and commitments are approaching nearly $200 trillion in the next twenty five years.
By all accounts, we live in a system built on nothing more than a promise to repay what we’ve borrowed. This reverse trickle-down economics has left everyone bloated with debt, including the government as a whole, as well as the individual American who has bought his house, car, furnishings and overall lifestyle by taking on insurmountable levels of debt.
In 2007 we began to see cracks in this supposedly stable economic model. By late 2008 the entire world was in crisis as credit lending on all levels came to a standstill. Stock markets crashed, governments panicked, and the people grasped on to promises of hope and change.
Four years on we’re told that the economy is bouncing back, yet all signs point to continued global malaise. More jobs are destroyed every month than are created, global shipping has all but come to a standstill, homes continue to lose value, and millions upon millions of Americans require government assistance for the most basic of needs.
There is no recovery. The credit crisis has not been averted. Things are going to get far worse before they get better
More here- http://www.infowars.com/very-real-danger-of-collapse-could-be-so-se...
Comment
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Comment by Patriot Pete on July 22, 2012 at 10:03pm
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lol Troy, (I deleted my post, corrected some spelling then reposted, that's why your comment "Sun Hater" is below my last post)
No! I'm a Sun *worshiper* .... hope I never become and Owl worshiper
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The cost of Electricity has gone through the roof ... because citizens are doing the right thing by the environment by installing solar panels which means there's less consumption of corporation coal fired electricity and to maintain the cost of running those power stations, the electricity charges must inevitably rise. All the solar panel advertising about reducing your power bill becomes irrelevant when your next bill comes in. It's like inflation, a "dog chasing it's tail"
Citizens without solar get hit the hardest from this, they mostly pay the penalty, prompting them to hurry up and install some panels....after which the corporations will hit you harder for the coal fired power that you do use, besides your solar power
Can you see where all this is going ? we'll end up living like Braveheart except with little shiny panels on top of our straw huts.... the mind boggles!
That's right Tyrone, alternative location and alternative ways, that's it and I for one am doing that at present, moving! But the important thing is, do it to escape the top down socialism and politics ... and the rising taxes, our whole being is suffocated by them
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Gettin' close to it Troy ... the State of NSW just bunged on another charge, this time it's a Triple "0" Emergency levy for uninsured homes. (AUTriple "0" = US911)
Also a new tax on plastics! how wide ranging this tax is I've yet to find out, but for drink containers you get something back if you return them
So! we have Income tax (up to 30%), Goods and Services tax (10%), Fuel excise, Carbon tax, Environment levies, fees and charges, State and Local Government fees and charges on just about everything, Road taxes ..... it's all getting out of control and there's less and less each day to show for the mega bucks they're racking in, except of course for the politicians' show case photo ops abroad with fellow Socialists, Fabians and Communists
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Govts' will raise taxes, fees and charges. It's not inconceivable that you'll be paying 60% of you income in taxes in coming years
that said, here are ....
100 Mind-Blowing Facts About the Economy
July 17, 2012http://www.fool.com/investing/general/2012/07/17/100-mind-blowing-f...
Probably not wise to take them all as gospel but I think point number 14 may be true...
14. At the height of his success, Andrew Carnegie's annual income was 20,000 times the average American's wage, according to historian Frederick Lewis Allen. That's the equivalent of about $720 million in today's economy. In 2010, hedge fund manager John Paulson earned $4.9 billion, or nearly seven times what Carnegie earned in his prime. The key difference: Carnegie made steel to construct buildings. Paulson bought derivatives to bet against them.
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