This article was written by Michael Snyder and originally published at the Economic Collapse Blog.
Editor’s Comment: The next recession has theoretically already become a mathematical certainty, and is likely to fall upon Americans during the next phase of events. The inevitable and prolonged building up of the next asset, credit card, student loan and government bubbles has eviscerated the national, global and personal economies. Regular people are stretched thin, and likely about to be put through a great deal of pain.
The problem is that the same bankers who triggered the 2008 economic collapse – are also the same bankers who put a gun to Obama’s head and tip-toed him through eight years of easy money and obedience facilitation of new heights for the stock market and the big banks. Today, it is the same bankers – and a record number of officials from Goldman Sachs – who are directly Trump’s hand during his still-blossoming administration. Whether he does good and exempts ordinary families from Obama, or whether Trump is naughty and lets the banker’s hand into the cookie jar – as he has done by tearing down Frank-Dodd regulations and attempted to permanently ban Glass Steagall-types of regulations that would prevent commercial and investment banking from crossing streams and unleashing total global destruction.
Those who are advising that President Trump “needs” this recession to avoid blame, and successfully “slay” the work of the Obama Administration must also keep in mind the extent to which the swamp has been drained, and how many dangers to liberty are still lurking around in the Treasury, Fed, Pentagon and other agencies. While this political hot potato gets passed around, you should get serious about personally assessing your exposure to this entire situation. Where do you stand if the debt avalanche gets put off another 10 years? Or if it collapses tomorrow? How dependent are you upon society, a job and regular shipment of food and goods? Are you prepared to survive and thrive if everything in life as we know changes for the worst? It is difficult to say what will happen in the next year, or Trump’s next four years (or more) as president. All we can do as individuals is distance ourselves from the worst of it – good buffers create independence.
Why Donald Trump Needs The Next Recession To Start As Quickly As Possible
by Michael Snyder
A new recession is coming, and Donald Trump needs it to begin sooner rather than later. As I explained last week, most American voters tend to care about their pocketbooks more than anything else. If the next recession were to officially start during the first quarter of 2017, it would be very easy for Trump to blame it on Obama, and then he could portray himself as the one that pulled the U.S. economy out of recession in time for the 2020 election. But if the next recession does not begin until 2018 or 2019, everybody is going to blame it on Trump even if it is not his fault. In politics, who gets the blame for whatever goes wrong is often the most important thing, and if Trump wants to avoid blame for the next recession he needs for it to start as quickly as possible.
For most of 2016, the mainstream media was warning that a new recession was probably coming no matter who won the election. For one example, just check out this Bloomberg article.
And for once, the mainstream media was precisely correct. Barack Obama left us with an enormous economic mess, and it would take an economic miracle of unprecedented proportions to keep the U.S. economy from going into a recession at this point.
During the Obama years, the U.S. went on a debt binge unlike anything we have ever seen before.
The U.S. national debt almost doubled. During Obama’s time in the White House, it increased from 10.6 trillion dollars to nearly 20 trillion dollars, and that means that over 9 trillion dollars of future consumption was brought into the present. That incredible boost to spending would have shot U.S. economic growth into the stratosphere during normal times, but because we were struggling so much all we got out of it was eight years of economic stagnation.
In fact, Barack Obama was the only president in modern American history never to have a single year when the U.S. economy grew by at least 3 percent, and he had two terms to try to accomplish that goal.
And remember, Obama also had the benefit of doctored economic numbers. John Williams of shadowstats.com tracks what the figures would look like if honest numbers were being used, and according to his calculations the U.S. economy has actually continually been in a recession since 2005.
In addition to government debt, other forms of debt are way out of control as well. The total amount of consumer debt in the United States has now hit 12 trillion dollars, and corporate debt has approximately doubled since the last recession.
When levels of debt grow much, much faster than the overall economy, it is inevitable that a crash will come.
If you look back throughout history, I don’t know if you can find a single example where debt has grown this quickly and a crash has not happened afterwards.
By some miracle if we are able to avoid a major economic downturn this time, we will literally be defying the laws of economics.
The employment crisis also threatens to get a lot worse in the months ahead. The mainstream media keeps trying to tell us that we are almost at “full employment”, but the truth is that more than 100 million Americans do not have a job right now.
Yes, there are a few areas of the country where jobs appear to be plentiful, but there are many more areas where they are not.
For example, you will never, ever be able to convince 23-year-old Tyler Moore that the job market is good…
Tyler Moore’s late-December drive to Louisville, Ky., was one of desperation. He was headed four hours west on Interstate 64 to interview for a job. Even if he landed the position, filling his gas tank had left him with $8 to his name. He would have to sleep at a friend’s place until he could earn enough to pay rent.
The 23-year-old had run out of options. He’d applied for dozens of jobs within an hour and a half of his hometown of Lovely, once a coal-mining stronghold. Instead of opportunities, he had found waiting lists.
“Minimum-wage jobs, fast-food restaurants, Wal-Mart, anything like that, a lot of them has already been took,” he says in an Appalachian drawl, explaining that the backlog just to interview was as long as a year. “There are no jobs.”
If the U.S. economy is in “good shape”, then why can’t people like Moore find a job?
Yes, there is a tremendous amount of optimism in the financial markets right now and the stock market has been soaring.
But the exact same things were true in 2007, and we remember how that turned out.
There is no possible way that the S&P 500 can continue to generate an 18% annual return without corresponding economic growth. The following comes from David Stockman…
Altogether the S&P 500 now stands at 3.4X its post-crisis low, having generated an 18% annual return (including dividends) for nearly eight years running.
To be sure, in an honest free market that very fact would be a flashing red light, warning that exceptionally high gains over an extended period necessitate a regression to the mean in the period ahead.
A lot of people get caught up in trying to predict exactly when the stock market will crash, but what everybody should be able to agree on is that it will crash.
There is no possible way that stocks can stay at such ridiculously overpriced levels indefinitely.
Throughout history, stocks have always moved back in the direction of the long-term averages, and this time will be no exception.
And just like last time, the beginning of a new recession will likely be accompanied by a major financial correction.
In recent articles, I have been highlighting some of the reasons why it appears that a new recession is imminent…
-Federal tax receipts have gone negative for the first time since the last recession.
-Job growth at S&P 500 companies has gone negative for the very first time since the last recession.
-The U.S. trade deficit in 2016 was the largest in four years.
-Lending standards have tightened up for medium and large sized firms for six quarters in a row.
-Lending standard are also tightening up for consumers.
-We just saw the largest percentage decline in average weekly hours since the recession of 2008.
-Gross private domestic investment is down.
-Consumer bankruptcies are rising.
-Commercial bankruptcies are rising.
All of this is not necessarily bad news for Trump.
A horrible recession started during the early years of Ronald Reagan’s presidency, but the U.S. economy turned around later in his first term and that momentum helped propel him to an easy victory in 1984.
Similarly, Trump could actually take advantage of the coming economic downturn as long as he is able to pin all of the blame for it on the previous administration.
If there is one thing that is true about U.S. voters, it is the fact that they tend to care about their own economic well-being more than anything else.
If you doubt this, just check out the results of a recent Fox News poll…
The latest Fox News Poll also asks, what defines the American Dream today? At the top, according to the national survey released Wednesday, is “retiring comfortably.” Some 88 percent feel that is extremely or very important to realizing the dream.
Next, 76 percent say “having a successful career” is important. That’s followed by “raising a family” (74 percent) and “making a valuable contribution” to their community (74 percent).
“Owning a home” is seen as a big part of achieving the dream for nearly 7 in 10 (69 percent). About 6 in 10 say “graduating college” (61 percent) and “being better off” than their parents (57 percent).
To most Americans, being “successful in life” comes down to how much money they have.
That should not be true, but it is.
And this is ultimately what Trump will be judged on.
If the economy is improving by 2020, voters will tend to evaluate him favorably. But if the economy is faltering during the next election season, it will be more difficult for him to get a second term.
So what Trump and all those that support Trump should want is for the coming recession to begin and end as quickly as possible.
However, there is also the possibility that the next recession may be a particularly bad one. Because we are in the midst of the biggest debt bubble in human history, any major downturn could ultimately spiral completely out of control. In other words, we may be facing the kind of crisis from which we never quite recover.
One expert that is warning about such a scenario is legendary investor Jim Rogers…
…get prepared because we’re going to have the worst economic problems we’ve had in your lifetime or my lifetime and when that happens a lot of people are going to disappear.
In 2008 Bear Stearns disappeared, Bear Stearns had been around over 90 years. Lehman Brothers disappeared. Lehman Brothers had been around over 150 years. A long, long time, a long glorious history they’ve been through wars, depression, civil war they’ve been through everything and yet they disappear.
So the next time around it’s going to be worse than anything we’ve seen and a lot of institutions, people, companies even countries, certainly governments and maybe even countries are going to disappear. I hope you get very worried.
when you start having bear markets as you I’m sure well know one bad thing happens and another bad thing happens and these things snowball just like in bull markets good news comes out then more good news comes out the next thing you know you’re five or six or seven years into a bull market.
Well bear markets do the same thing and so we have a lot of bad news on the horizon. I haven’t even gotten to war. I haven’t even gotten to trade war or anything like that but you know things do go wrong.
If it is as bad as Rogers is suggesting, it wouldn’t be too long before conditions in America would begin to resemble those portrayed in my novel.
Let’s hope that does not turn out to be the case.
Let’s hope that the next recession begins and ends as quickly as possible and that the U.S. economy is on a solid upswing by 2020.
And if you are a Trump supporter, don’t be too dismayed if the U.S. economy takes a major downturn in 2017. As I discussed above, it could actually be just the thing that Trump needs to set the stage for another election victory in 2020.
This article was written by Michael Snyder and originally published at the Economic Collapse Blog.
““A New Recession Is Coming… And Trump Needs It Soon”
Someone here said that very same thing ….. A MONTH AGO !!!
Who was that Masked Man ??? Yes, of course, it’s in the archives. 🙂
Is that the same guy that thinks trump is a constitutionalist?
It’s the same guy that thinks TRUMP is a Patriot. That said, every POTUS wants to exercise as much power as he can (that’s human nature); and considering how much individual power the NWO allowed their puppet Obola to exercise, its ironic that the extra Constitutional Powers that they allowed Obola to use (and expected Clinton to use to seal the coffin on the American Republic), will now be used by a Patriot to restore power to the People.
Payback is a beautiful thing. Thank YOU Lord. 🙂
So you think a patriot doesn’t believe or practice the constitution? The constitution is an objective document? You either believe in the constitution or you don’t, there is NO grey area. Trump is NOT a patriot by any standard, he is just doing what will get people on his side while he stabs them in the back. You really can’t be that ignorant can you?
“So you think a patriot doesn’t believe or practice the constitution? ”
I think a Patriot does believe and practices applying the Constitution; and expects it to be followed by both citizens and those in authority.
And there is the rub.
The Founding Fathers, wise as they were, could not foresee every eventuality, which is why the Constitution’s interpretation (for well & ill) is allocated to the Court System, the Supreme Court the final word on its meaning.
I believe that TRUMP, in his ZEAL for enforcing our laws on immigration, border security, and general law and order to protect America and its citizens, is INCLINED to exceed his authority as POTUS, much like every other man who has occupied the Oval Office.
Civil Forfeiture laws need to be re-visited, as does the law that allows commercial banks to use depositor funds for their investment banking operations. Other examples abound, like voting laws, driver’s licenses, etc.
Now with a Patriot occupying the Oval Office rather than a Globalist, American Patriots have their best chance to influence their government to address our grievances. I would encourage you to start a petition at whitehouse.gov to bring attention to the abuses of the Civil Forfeiture Law which intent was designed to strip criminals of their criminal profits.
Language in that law needs to be clarified to protect American’s property prior to conviction.
TRUMP’S EO on Immigration was rebuked by the Federal Court because the language wasn’t tight and didn’t clarify that Green Card holders from the 7 muslim nations were exempt from the ban. This gave a biased judge the opening he needed to dismiss the ban.
Haste makes waste. 🙂
Yeah but the stock market party continues.
Sorry. I have to poop in the Cheerios here. It’s built on a house of cards.
It may go up to 21 or 22,000. When it comes down…… lots of pain.
Best time to get in is probably after the correction, not before.
Oh we have a long ways to go, if it can even be done.
But at least some good signs
Companies that are hiring – DailyJobFix co.m
–
Today – DJIA 20,412.16
+142.79
This is the Shitstorm that will wipe out the masses when it crashes.
DK says so much BS, 85% of it is all wrong. Did you go buy yourself another trophy again today to make yourself feel good? LMFAO!!! Yeah check the archives.
LOL !!! You are a sore loser. 🙂
BTW, Did you send that Franklin to the Semper Fi Fund yet ???
{Just like since 2011] Any bad news will only fuel the markets HIGHER as the central banks have infinite number of digital money to create. Bring on another housing and bankster crash, markets likely would double this time in less than 5 years. The only way to stop this will be if one of the central bankstes stops QE when it is their turn, they are taking turns doing QE and buying each other garbage!!
New Recession my ass. We have never actually recovered . What we have is a slow creeping Regression. It might become a full blown depression. What we now have today is the new normal.
SUBTRACT THE BORROWING/MONEY PRINTING, AND WE BEEN IN A DEPRESSION FOR AT least A COUPLE DECADES…..BORROWING AND PRINTING adds TO GROSS DOMESTIC PRODUCT, INSTEAD OF subtracting FROM IT….YEESH!….for crise-sakes, follow some of those links….they are FACTS….that’s why i like snyder, because he puts out facts….time for a reset.
SNYDER AGAIN? YAWN. I’m going back to sleep.
“A New Recession Is Coming…”
We never had left it … and Michael Snyder of all people, should know this.
Feds printing money, and distributing it where it needed to be and bailing out certain Corporations is not a recovery.
It’s nothing but a band-aid covering a wound that desperately needs surgery. We have been on borrowed time … that’s all that it has been since the Feds continue to fill the System with phony money in this manipulative world of ours.
The System will Crash/Reset … call it what it may be.
If it wasn’t for the manipulation … we would of already experienced the Greed that has been implemented into this fiasco long ago.
Trump can’t fix our Debt … us taxpayers can’t fix this Debt … it is mathematically impossible.
For this bogus manipulation to be “cured” … only two things are possible.
#1 Default (in reality … tptb won’t let this happen)
#2 World War (this is the reality for all to be forgiven)
World War will be the ultimate Reset – with new and so-called improved measures put into place afterwards.
at least FTW gets it….PERFECT summation, bro.
TO ALL THE TRUMP SUPPORTERS. Sorry to be the bearer of bad news but Trump is not for us the people. I truly was starting to believe in Trump when I saw him do things like gut the TPP, or close down this open borders bullshit, or put a ban on lobbiest. This is all theatre same as with Obama or Bush or Clinton or any of them. Again sorry for the bad news but click the link
http://www.thedailysheeple.com/trump-just-chose-wilbur-ross-a-billionaire-investor-and-sr-managing-dir-of-rothschild-inc-as-secretary-of-commerce_122016
Greentips, Keep in mind, all Trump has is the people backing him. That Honeymoon may be short lived. Are you saying he traded us in? Some of these moves he is making in deregulation of Banking, is what got us into this mess.
I’m saying this has been a ploy by Trump since the beginning. Trump and his team new the issues that the American people (conservatives, libertarians, freedom lovers) wanted addressed. So he spoke about them and got us the American people all riled up so we would be on his side. That all was just a “Kansas City Shuffle”. Ultimately Trump is on the Bankers side and that is evident in who he is filling the White House with. I’ve never seen so many Goldman Sachs guys in the White House. I mean come on guys we have House of Rothschild in the White House for heavens sake. Nothing has changed, different boss same program. Keep your powder dry cause its coming.
Of the bankers, by the bankers, for the bankers. Thats the new motto!
If this is just “theater” I can’t wait for the second and third acts. Its no dog and pony show !!!
It real life in Patriot Ville !!! 🙂
Put down the shrooms, yer hallucinating again…
Hate to say it Durango but I think when it’s time for the second and third acts to be starting that’s about the time we may be seeing open rebellion in the streets.
You are probably right about that, and the good news is that the government is controlled by Patriots now and not the NWO Left who prepared FEMA CAMPS for those who believed in the US Constitution.
Can you say “Mordecai” ??? 🙂
Can’t make this shit up … this is fk’n hilarious!
Black Lives Matter Founder Calls White People ‘Sub-Human’
Posted on February 12, 2017
by Sean Adl-Tabatabai
your news wire
Black Lives Matter co-founder Yusra Khogali has publicly called white people an inferior “sub-human” race in a racist Facebook rant.
The Black Lives Matter Toronto co-founder argued that black people are “superior” because white people have “genetic defects” that make them lesser humans.
“Whiteness is not humaness, in fact, white skin is sub-human,” she posted. “All phenotypes exist within the black family and white ppl are a genetic defect of blackness.”
FULL STORY: http://yournewswire.com/black-lives-matter-white-people-sub-human/
poor poor simp. he’ll find out soon enough who the inferior black DUDE is.
But blacks have done so much for society! All the inventions and moral culture and freedom they have bestowed us with! Why as soon as I think of an example I will post it………………………………………………………………………………………………………………………………………………………………………………………………………………………….
“All the inventions and moral culture and freedom they have bestowed us with! Why as soon as I think of an example I will post it…………………………………………………”
Sir … we are patiently waiting with your examples.
LOL ツ
jazz?
www . jazzinamerica.org/lessonplan/5/1/249
Jazz was born in New Orleans about 100 years ago (early 20th century), but its roots can be found in the musical traditions of both Africa and Europe. In fact, some people say that jazz is a union of African and European music. From African music, jazz got its: rhythm and “feel”
ht tps://en.wikipedia.org/wiki/Jazz
Jazz is a music genre that originated amongst African Americans in New Orleans, United States, in the late 19th and early 20th centuries.
www . redhotjazz.com/originsarticle.html
Tracing the origins of Jazz in the formative years (1895-1917) is not an easy task. Recordings of Jazz did not begin until 1917…
The traffic light and peanut butter.
Jazz, traffic lights, peanut butter. Do they have those in afrika?
there’s GOT to be a joke in here somewhere…..wait…..i’m ALREADY laughing anyway.
What do you call a nagger that runs a red light eating a peanut butter sandwich listening to jazz?
well?…..give U.S. the punchline!
Here is where I have a radically different view on how to deal with this problem. I am going to keep it simple because I think people make things complex in order to obfuscate what is really going on and what is possible. Trump is a straight-talking guy, so I think he will appreciate this.
Yes, Obama’s debt spree has to be cleared one way or another. The tragedy would be to do this in such a fashion as to harm the US economy and to harm America’s people and their health and well-being. A prosperous America benefits the world and creates jobs all around the world.
But the debt needs to be cleared, for a number of reasons. Servicing it is robbing the economy of savings and investments. It is destabilising and it is a source of malinvestment. But we have a quandary: the debt exists but there is also record wealth in private hands and the stock market and investments are at record heights. So, there is wealth out there, it is just not being used to clear the debt.
The president needs to do it fast and hard: to take that hypothecated wealth (derivatives, stocks, bonds, investments etc.) and to use it to flush away the debt. The fairest and wisest way to do this is to ensure all Americans receive a $100,000 equivalent debt clearance. Not necessarily a cheque in the mail but a debt clearance. So, if somebody has $50,000 in student debt and $100,000 in mortgage debt, they then get $100,000 cleared and it is paid for by Goldman Sachs. If they have no debt, they receive $100,000 for student fees, re-training costs or for a business start-up. This would cause a debt reset that would, within months, rejuice the economy in an extraordinary way, while removing the thing that is holding back an American revival. And this would go around the world, putting factories back to work everywhere.
But, yes, the president needs to do this within the next 6 months to get it done and out of the way. Think innovatively and America will be back in no time.
Frank, in theory what you write sounds like a good plan. However, that 50,000/100,000 “gift” will undoubtedly be pissed away on trinkets and baubles.
Frank, so the people that are NOT in debt and don’t want to run a business and are responsible people are fucked in the ass while the debt ridden moronic zombies get a free ride? FUCK THAT!
Frank’s hittin’ the bottle AGAIN!
The Trap I set:
If you want to win at this economic game. Remain as Debt Free as possible. In a deflationary period, carrying debt becomes more expensive, Housing bubble popping will prove this. As that snowball builds, then many will loose their job or income decreases, Inflation will pick up and crush you. Your choices then will be either to choose pay your monthly debts or your Monthly living expenses. But you will not be able to do both. Being out of debt help increase your chances of staying out of the 2 sided trap.
I meant the Trap is set. not I set.
Zeus, I’ve ALWAYS been debt free, so I know I’m avoiding the trap.
This doesn’t work Frank, and my plan, which I have posted here previously is to require the FED to repurchase all, or at least half, of all American debt.
US Debt repurchased by the FED is retired, like common stock in corporate buy-backs, never to be re-issued again. The FED eats the losses. Year after year after year.
Lets remember that some of that debt IS very useful as US TREASURY BONDS are highly liquid and secured by the largest economy and most powerful military on the planet.
Multinationals, corporations, pension funds, hedge funds, and big investors park their excess cash in US TREASURIES between investments as they look to make a more efficient and more profitable use of their cash (profits).
For well or ill, US DEBT is the NWO Currency of choice.
🙁
Im cool with a depression,,, wont matter for me
Nailbanger –
The World looks pretty depressing as is … I agree … take it step farther and expose this phony, manipulated world for what it is.
“A FRAUD, bound with lies & deceit – wrapped beautifully with a bow of Greed.”
Frank you are full of it. No matter what its for all government spending is a tax on the Making Producers.You cant solve anything by giving money away or forgiving debt. how is that fair to us folks who worked saved and paid our own way. All your plan would do is cause inflation. and those folks who had their debt paid would just get right back in debt. and them demand it be canceled again. You borrow that money you owe that money. Its your fault you owe money and cant pay it back. We need fewer parasite takers and more producing makers. Its just that simple. I say Let it crash.
“Let it crash.”
Fk’n Right!!!!!
Brother can you spare a dime.
__
Yes I do have a spare dime or two. And hell no you cant have a red cent. Get up off your keister and earn your own money. Walk around and pick up aluminum cans. I bought my first car by collecting soda bottles and saving the 2 cents deposit.
Damn you ARE old! I used to get 5 cents per bottle lol.
The 1970s isn’t that long ago.
Ya true, I think I still have some underwear from back then lol.
Genius, I also remember 5 cents per bottle. You must be closer to my age. I’ll be 60 in March.
no child left a DIME!
BCOD –
Caught me off guard with that remark – bravo – you made me laugh. ツ
tanks….i just LOVE that line……but the children sure aint goin’ to!….poor kids.
BCOD, how about “NO FREELOADER LEFT A DIME”? LOL!
Brother can you spare a dime.
You better have a lot of Silver .999 fine in your stack to weather this storm on the horizon. Not sure what a dime will buy you today.
When I was a kid, a dime would buy me a packet of baseball cards and a flat of chewing bubble gum.
Apples 5 cents,.. Gasoline was .38 cents a gallon. Gallon of Milk $1.25.
Silver dimes are perfect barter. I have probably 300.00 face value in them. Also some WW2 nickels (35% silver). and lots of junk silver halves and dollars. Cheap to buy, easily recognizable, accepted everywhere.
Zeus you are just a fucking KID !!! I remember when gasoline was 19 cents a gallon and milk was 99 cents a gallon. Candy bars were a nickel not a dollar, and movies were 25 cents preceded by a Batman serial every Saturday!!!
The batmobile looked suspiciously like a 51 mercury. Those were the good old days !!! 🙂
Zeus, I can remember when gas was .24 cents a gallon. There were 2 grades, regular and hi-test. I rarely ever saw anyone get hi-test.
If you think China hates us now, just wait and see if we default on our treasuries.
Of course, at the rate they are dumping those, they might see it coming and shit on us
first. Looks like the latter. Grandma might not be getting that social security check.
AWWWW, HELL,…..and i was just about to get my FIRST social security check……PFFT!
ha–got my first two.
least i got somethin’
BBBBBB>SSSSSS>
We never got out of the 2008 Recession!!!!!
Sgt.
If you look at the definition of depression we have been in a depression ever since pretty much. But as long as my personal ATF agency keeps runnin’ I’m good 😛
Its been a recession since 2008 if your neighbor lost his job. (and/or home) Its been a depression since 2008 if you lost your job.(and/or home). Its been a recovery if you are in the 1%, or a filthy Bankster.!!!!!
I saw the 1939 movie, “The Grapes of Wrath”, which depicts a poor Oklahoma farm family who go to California after losing their farm. If their lifestyle starts looking good to us, then the end has come. What is the recipe for “Rat fried Rice”?
Morality has changed radically since the Grapes of Wrath. Those okies in their dungarees will be doing blowjobs and peddling their booties on some app well before they go hungry. Just think about it: what American woman is going to eat ‘rat fried rice’ if she could eat filet mignon by banging some dude in a suit three times a week? Things will just revert to what they were in the 19th century, when most poor women in cities had to do sex work to make ends meet.
Amazing accounts of London then where you could pick up an underage teen on the main streets for sex. It was so routine in those days.
Sub Human my ass, I am not the one who is walking down the street with may pants falling off with my ass showing with spiked dred locks. We are sub human? Most of those asshole don’t own guns, and cant shoot worth a shit.
HCKS.
And my cousins aren’t still swinging from trees lol.
… or throwing feces at you!
HCKS, damn straight. Same thing in my area. Who said we’re subhuman? I’ll teach that f#$%er a thing or two.
This crash is WAY overdue! Bring it on!
Old guy, you gotta take it easy with Frank. Frank has a different perspective. But I must admit, reading that give me a mind phuck. When it comes to the world ills, looking at the US from the outside, you start to see shit from a different perspective. Reading that is a near mental cluster fuck, yet has merit.
HCKS.
I think I have a viable solution. Determine how much gold we have in Fort Knox and divide that by the national debt and just set the price of gold at that. So people who have been frugal and saved their money and diversified into pms would be in good shape and the country in general would be in good shape because the debt would be paid off.
Gold would be about 12 trillion per ounce if that was the case.
Did a little bit of rough math. Supposedly have 150 million ozs of gold in Fort Knox. Convert all the oil in reserve about 800 million barrels. With all the new discoveries we may have plenty of oil. Say we could convert that oil into gold rounding up to 50 million ozs. Say a total of 200 million ozs divided into 20 trillion would be 100,000 an oz. silver would be over 6,000 an oz. not too unreasonable. The govt could start buying gold. Definitely create a panick worldwide and when the magic number hit. Viola swamp it for tbonds. No more debt!!!! Have to pass a law saying no borrowing. It still astounding tgat dumbass politicians have been able to saddle this country with 20 trillion in debt.
More daydreams of the future:: Buying anything [from equities, real property to gold] today will be like buying stuff at 1920 prices. Draw a chart with left side $20T @ 2017 and the right side $300 trillion @ 2050, now connect the two points in a not too steep hockey stick, this will be the new national debt in 2050 as they MUST inflate the economy in order to facilitate the $70 trillion shortfall in medicare and social security, taking in account that these two unfunded liabilities only make up a fraction of the total economy allowing for equal inflation of the remainder of the economy. This is very conservative, not even factoring in weather related food disasters, plagues, wars, inflation, foreign sovereign collapses, pension and banking defaults, QE 4 to QE 666 … Quite possible the size of the national debt on 2050 might exceed 500 trillion, you got to factor that into the stock markets, that is where much of the newly printed money as gross and net sales will end up. There are only a few events that will stop this HYPEREXPANSION, and all of them spell doom for America and the world.
But if niburu hits us who care’s?
{add} in other words, it is hyper $$$ status quo until the most important natural resources run dry or severe shortage, WWIII, plague, or the environment and eco-system gives out. Don’t bet against the central banksters, they have $infinity + $1. The world fiat money creation is on auto-pilot, the game is in the bottom of the first inning.
I agree: monetary expansion is the only thing they can do. A high inflation tipping into episodic hyperinflation episodes to gain some breathing room on the underfunded liabilities and debts. Deflation is off the cards because the system will not allow it.
Probably the best micro model for this system is the UK: a locked box where Keynesian inflationary expansion is how they run the economy. Essentially, the UK pegs the value of its assets every year and then pushes everything towards that target. It doesn’t matter if large swathes of the country are left in despair and poverty, as long as the property market in the key areas keeps going up, and consumer prices keep rising. It is fun to watch the flithy-toothed Brits running around all stressed out trying to keep pace with it. Oh, if they could generate some power from all those stress farts from their beans and toast!!
There are a lot of people on here that puts Snyder down. Deep down we all know he is right. I believe I will be homeless in my 60’s because of this money printing. Just go to http://www.usdebtclock.org and grab a beer and study these charts. I have tried to show this site to a lot of friends over the years. Most people cannot handle it. There Normalcy Bias will not let them concentrate long enough. The few who did, woke up big time. Try it.