The Sound of a Second Shoe, Dropping…

What Me Worry ObamaWe recently noted two South American markers (with some surprise) as the onset of the next phase of the world’s economic collapse. We expected some time to pass before the next one turned up. We were optimists…

Last time, we identified the harbingers of the collapse as the supermarket price freeze in Argentina and the Venezuelan devaluation of its currency. Both are desperate measures that have never resolved problems of government mismanagement.

Now, much too soon, the third alarm has sounded: E.U.–Germany will explain that Europe is now in undeniable recession and mighty Germany is no longer exempt. For Europe, that is the end of the games, though voters there may not yet realize it. And the U.S. will follow. The Europeans, the E.U. elite, have planned to use Germany to bail out the profligate remainder. Now it is becoming evident that Germany lacks the wherewithal to do that, what to do? No answer–the obvious spending cuts are, at a fraction of what is needed, already putting people in the streets. Conscious Americans, if any, need pay attention; they’re next.

In the U.S, I estimate that at least 25% and maybe more of the nations’s wealth that people believe they own, does not exist. It is an empty gulch papered over by funny Fed money and Treasury machinations with the banks. Our big banks, in my opinion, are just Mother Hubbard cupboards, awaiting her opening the door to show that they are bare.

All the mighty and the wise find my view laughable; I sincerely hope that they, not I, are right. It’s beginning to look like time to place your bets…

About Jack Curtis

Suspicious of government, doubtful of economics, fond of figure skating (but the off-ice part, not so much) Couple of degrees in government, a few medals in figure skating; just reading and suspicion for economics ...
This entry was posted in Bank Failure, Banks, Debt, Depression, E.U., Europe, Fiscal/Financial Responsibility, Inflation, Overspending, Politics, Recession and tagged , , , , , . Bookmark the permalink.

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