Excerpted from Worse Than A Depression by Monty Pelerin:
We are witnessing the death of democratic socialism. No politician wants it to happen, but none can prevent it. We are at the point where the Ponzi concept of “extend and pretend†has been extended beyond social commitments and banking systems to entire economies. We are approaching what Ludwig von Mises described as “the crack-up boomâ€:
There is no means of avoiding the final collapse of a boom brought about by credit [debt] expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved.
Political cowards around the world have chosen Mises’ second outcome – “a total catastrophe of the currency system involved.â€
None of the countries have the resources to continue to fund current programs. As their economies deteriorate, they will “print money†in order to continue meeting obligations and stimulating. At some point, the money supply will explode vis a vis the goods available.
We have seen many “impossibles†in the last couple of years. Be prepared for the next — a hyperinflationary depression. It is not impossible, it is not an oxymoron and it should surprise no thinking economist. It is nearly upon us.
Your lifestyle will depend on how prepared you are to meet this newest, biggest and most horrific Black Swan. This beast will destroy economies, overthrow some governments, and alter the nature of the world.
Wake up people! Your politicians have no intention of heading this off.
This article was originally published American Thinker and is written by Monty Pelerin.
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And know joining Monty’s corps are the Financial News and of all places CNBC can you believe it. They recommended land, gold and barb wire. We must be getting close or someone knows the printing press is about to fail.
Patriot One … The media stampedes after any idea that will get them ratings.  There is so much credit destruction still with another swell to come … this won’t happen until after that and would involve another quantitative easing.Â
I am bad on timing. I will admit that I have no idea “when” . But there can be no doubt as to what is gonna happen sometime. Anyone who has ever ran a small business or a household budget knows that you cannot keep spending more than you make forever. It catches up with you sooner or later.  So it will for America and any other country which relies on debt.Â
The PTB will do anything they can to keep this fairy tale-carnival ride going. It will go until it hits the wall. Before it hits the wall they will inflate it to the moon. No matter what happens, the super rich criminals will walk away grinning. That’s what gets my goat. There are so many back room- dirty dealing- insider trading going on with the mucky-mucks they can’t lose and they will know WAY ahead of everybody else when it’s time to bail. Right now they know darn well that it’s coming, so they are lying, stealing and conning as best as they know how to further feather their nests. <rant over>
I think virtually everyone will have a reduced lifestyle. It’s very difficult to prepare for a collapse when you’re poor. The less money you have, the sooner you have to start preparing.
http://www.worldwidewakeupnow.com/
Started up this website to get people talking about what may becoming down the road. Â There’s a comment section on there so that if anyone has any info about 2012, or anything severely news related much like SHTFplan has here please feel free to put it up there
One way to prepare….if you live in a city, do something about it.
GET OUT now and find a small community you can be a part of.
Living at the end of a dirt road may be prime RE someday soon.
For the average Joe Six-Gun; dollars, payroll earnings, employment, savings, value of 401k and credit are becoming scarce. Are you certain you want to shoot the wad on hyperinflation?
Good idea, “Lost”. I’m headed for Durango for the summer. Hope to catch the 4th of July Parade there then.
The FED has already come right out and told everyone what to expect. Higher taxes, fewer services, and a lower standard of living. That is the path they have chosen…….the how we get there is really irrelevant, we’re going.
“That is the path they have chosen…….the how we get there is really irrelevant, we’re going.”
I am not sure whats worse, the fact they are deciding our future for us , or that we are LETTING them decide our future.
Scab. Your right. I would like to live in a small community a little further out then the end of the dirt road. Living on scarce for a long time now, even before all of this started. We are prepared as much as possible without spending a lot of cash. I keep hoping to catch wind of the time the TPB are running for their caves, (that is where all the money has gone to build those things) that, I might be able to get in the way of some to block their chance of getting in before the doors are closed. Now, that would be fun.
OKAY. LOOSEN UP. PAY ATTENTION.
when government debts exceed the government’s ability to pay off the debts to it’s  privately owned  central bank the government then sells debt obligations called “treasury bonds”.
at this point in time the privately owned central bank then literally owns the government.
then the privately owned central bank arranges for the whore politicians that it controls to starts a war and all the massive war expenditures must then be borrowed from the privately owned central bank (treasury) at a hugh interest rate because the government was already in debt when the war started.
nifty arrangement isn’t it.
this is the algorithm that will eventually destroy you and your family while the central bankers convert all their massive interest profits into gold, silver and real estate in a safe space…Â
As a relative new comer to the Prepper movement, can someone tell me how long this has been going on? How long have there been predictions that the sky is falling…..THIS SUMMER?
The PTB know what is happening. There is a lot of rich people leaving this country because they know what is coming. Why else did the Bush family have a massive ranch in Paraguay that is heavily guarded. Many of us expect a super police state but there is not enough manpower for such. If you guys want an idea what America will be like during a hyperinflationary/or deflationary depression read about the Yugoslav Wars in the 1990s.
I believe we will go in stages in a depression. For example we are now in a recession. When the debt crisis in Europe spins out of control and China Bubble pops we will have a even worse banking crisis and be in a depression. Then after that when our states start dropping like flies the govt will try to pass an emergency stimulus package for the states that will not be enough and makes things worse. Then the states will pass draconian cuts (cutting welfare and childcare) that will lead to social problems(riots and crime waves). With this we will plunge into a great depression. The states collapsing is two years away,many states only have cash reserves for tax refunds and unemployment benefits for two years. At this time the govt will accelerate spending and the bond vigilantes sees our massive debt,then start dumping treasury bonds. Then the dollar will panic and crash. Then America will dissolve into chaos. The thing is we have time. A dollar panic is years ahead remeber we will have deflation first. So we have about 5-10 years to prepare. If I had money I would buy a ranch in Wyoming arm myself up and start learinig how to farm.
Scary thing is the last depression the govt had surpluses,states had sound budgets,there was no derivatives,and half of the population lived in farms or rural towns. Now it is only 3% that can live off the land. I live in Brooklyn,NY and when the SHTF it will be like siege of Sarajevo in New York City. Remember read up upon the Yugoslav wars. The thing that has come from this recession is the idea of secession. More people are talking about states rights and secession. When the shtf we will become like Yugoslavia.
I remember the Viet Cong storming the presidential palace after the fall of Saigon in 1975.    Â
I smile at the possibility of patriotic U.S. citizens and soldiers storming the White House, Congress, and Senate ……………..         Â
Interesting thoughts. However, I’m not so sure we have 5-10 years. 1-2 years with 3 on the very high end is my thinking. Could be more like 5-10 months. I don’t know.
MA:Â Â The Feds are already providing about $24 billion to states that have run out of cash for unemployment benefits, and we will soon move into the double dip as the “stimulus package” has stimulated, well ……. Â NOTHING.
Ten years is too far out. If we can make it that far, we might be OK, but I don’t think so. Too many events in the meantime that will suck cash out of the FED and Treasury, requiring the printing of even more money, at an even faster rate. Five years max.
Even a new president with a totally new approach in 2012 (like tax breaks for small businesses to create real jobs) would have to print huge sums of money to cover the loss of tax revenues that tax breaks for small businesses would require to actually stimulate the economy. We are damned if we do and damned if we don’t, but that’s the only real hope for the economy.
Of course, we could round up the ILLEGALS and send them home. That would save the US Taxpayer $500 BILLION dollars every year. Sounds like a place to start.
Other than that, we wait for the Pole Shift, repudiate the FED and all its debt, establish gold and silver as legal tender once more, barter for the neccessities between ourselves, and tell our debtor nations:
“Sorry, that was then, this is now! Next!”
A total of 96,462 U.S. properties received default notices (NOD, LIS) in May, a 7 percent decrease from the previous month and a 22 percent decrease from May 2009. It was the fewest default notices since November 2008 and down 32 percent from the peak of 142,064 default notices in April 2009.
http://www.realtytrac.com/contentmanagement/pressrelease.aspx?channelid=9&itemid=9427
GODDAMN!
WE’RE SO FUCKED!
I SIMPLY CANNOT BELIEVE THE PUSSIES RUNNING THE PENTAGON ARE MAKING AND ALLOWING THIS BULLSHIT TO HAPPEN!
AS A VETERAN I’M JUST PISSED!
WHAT THE FUCK IS THE FBI CIA NSA DOING TO STOP THIS BS . NOT A DAMN THING THEIR ACTUALLY HELPING DESTROY THE DAMN COUNTRY!
YOUR ALL GOING TO FUCKEN DIE FEDS, YOU AND YOUR FAMILIES! FOR GIVEN IN TO THE BILDERBURGERS AND TURNING TRAITOR TO THE US CONSTITUTION.
I FOR ONE WILL BE LOOKING FOR YOU …
WHEN YOU CALL MARTIAL LAW , THERE WILL BE A PISSED OFF VETERAN BEHIND EVERY TREE WITH A RIFLE.
BRING IT!
IN THE END !! THERE WILL BE ONLY WAR!!
A WAR THAT WILL SOLIDIFY THE NWO PLANS AND BRING THE BILDERBURG DREAMS TO FRUITION !
YOUR ALL A BUNCH OF SUCKERS AND YOUR CHILDREN WILL KNOW ONLY PAIN AND STRIFE FROM HERE ON.
ME – I’LL BE SITTING ON A BEACH IN THE PHILIPPINESÂ DRINKING ICED RUM AND COKES W/ A PRETTY GURL FOR COMPANY WATCHING YOU ALL GO TO WAR.
GETSOME!
One:Â Â I have been to the Philippines, and unless it has radically changed since then ….. well, lets just say its no “Blue Lagoon”. There must be a better place in WesPac to sit the next one out.
Australia anyone?
we’re screwed….plain and simple everyone of us and I got news for ya it isn’t just America that’s going down the tubes, this is worldwide…
I don’t know what disturbs me more, the path that we are going down or the fact that the majority of the population has no idea how bad things are about to get. Someone here said above there will only be wars eventually, which is probably true and these wars are going to wipe everything out. Alls it takes is one nuke to drop to set off a chain reaction that will devastate the entire world, how much time we have til that first nuke drops is anyone’s guess but it seems to me time’s running out.
If you havent already checked it out, click on the page I just started up over at worldwidewakeupnow.com….Please go there and start gettin people to talk, leave messages on the discussion board section there and most importantly get the message out to everyone that this sight is here.Â
I won’t feel right if I don’t do my part to help people wake the fuck up to what’s right around the corner, it’s why I’ve taken it into my own hands to try to get the message out as best as possible
I Haven’t been to the Phillippines since the 70’s, but I can remember the value of a night on the town with $20. and going back to base with change.
I also remember Olongapo, Baretto and Subic City. Not quite the places I would want to live. Like you Zukadu, I don’t remember any Blue Lagoons, but then again, I was always just passing thru.
Yes, PO, those were the “good old days” in Naha on Azee Guzee Street!