They’d have us believe that happy days are here again. And, if your only source of information for economic news is the mainstream media and their talking heads, then in all likelihood you’ve bought into the hype about an economy on the rebound, consumers being more confident, housing prices in recovery and a government that’s soon to resolve America’s fiscal woes.
Remember, in 2008 then Secretary of the Treasury Hank Paulson warned that we were literally on the brink of collapse and Congressional representatives were told that the situation was so serious that should the economy, financial markets and the US dollar crash, it would lead to riots and the need for martial law.
One non-mainstream economist who has been warning of the coming disaster since the last disaster is Market Ticker’s Karl Denninger. He uses something called basic mathematics (with a healthy mix of advanced analysis) to come to his conclusions, and prior to the massive collapse of October/November 2008, Denninger sounded the alarm when he spotted numerous data points, including central bank manipulation in credit markets, suggesting that a massive crash was coming.
Two weeks later markets around the world fell apart.
Over the last several years Denninger has continued to warn Americans about the fiscal crisis, unsustainable debt levels and wealth destruction.
If we were on the brink in 2008, and we spent the last five years injecting TRILLIONS of dollars into the system, why are we once again at the cusp of another crash?
Because they fixed nothing.
In fact, they made it worse.
Back in 1930 Americans thought they were out of the woods and that the economy and financial markets had recovered.
They were dancing, drinking and spending like nothing was wrong; as if the crash had been nothing more than a short-term blip.
Congress was being warned about the possibility of tanks in the streets in 2008. All of the economic, financial and monetary policy measures implemented by the government and the Federal Reserve since then have failed.
Should we be worried?
The short answer is ‘Yes’.
This is going to happen. And this time people should be terrified of the consequences.
Mac Slavo Views:
Read by 40,369 people Date: February 25th, 2013 Website:www.SHTFplan.com
Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.
The content on this site is provided as general information only. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a financial interest in any company or advertiser referenced. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader.
SHTFplan is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.