The Economic Collapse

Time to abandon hope.

"Unless huge amounts of Greece debts are fogiven"

And that is exactly what will happen.

I'm ready.

Expecting it. But the fudgepackers will be caught totally off guard and will lose it when their EBT cards buy very little....

I'd say the two options for Greece are, either 75% of their total debt is forgiven and they get their deficit under control, or they go iceland and quit the Euro and kick the bankers out of their country.

The only problem for Greece is their European Socialist Welfare state. Iceland had a very small population, and they were able to get away with kicking the bankers out because there wasn't the massive entitlement spending like you see in Greece, so they could stabilize their currency relatively quickly.

With Greece's existing welfare spending making up such a huge percentage of their budget, If they quit the Euro they would take at least a 100% deduction in any National currency based on Euro's, and if they continued to rack up debt, they could soon find their currency in hyper-inflation...

Eventually Greece will be forced out of the Eurozone no matter what, their GDP is imploding, they can't maintain these type of Austerity Measures forever, and the more they cut, the lower the GDP falls...

It's a spiral now, every time you cut the economy gets worse, spend more and you only increase the problem, they will have to take drastic measures...

Perhaps, but don't forget that fudgepackers typically have more disposable income than breeders. Just saying.

even the vast, vast majority of those NOT on ebt will be caught off guard

your right about that. very few are ready for what is coming down the pike.

Greece wont leave the Euro as long as there is still german money to waste.

If forgiving Greece its debt obligations would solve the problem that is exactly what will happen.

I concur!

Won't be long now. Did my weekly grocery shopping yesterday and prices have risen since last week.

That's the best part.
Money will be worthless.

Once US bonds are downgraded from AAA to AA it's over.
I'm thinking around late April or early May.
Setting the stage for the shit really hitting the fan in the summer.
Hyperinflation and the whole bit.

It is going to happen sooner or later that much is certain.
Maybe Obama winning was a good thing.
Sooner would be better than later for me.

Bump get ready!!

i seriously dont know of anyone who has the foggiest clue, nor cares to know

if they do follow the MSM its not exactly informative. if you want to know some facts, you have to go actively digging, and thats just not going to happen


although, i cant get my head around just how long this whole thing has been going on. how long will the elastic stretch before the shit-filled underwear falls off?

Do as Island did and you will be happy !

if they still had to price everything by hand, there would be an army of staff clicking away with those pricing guns

maybe then people would actually crack on

up n up n up my grocery shopping goes

Wasnt JP Morgan the guy who owned the White Star Line?

Here we go again.

Abandon ship!!

This girl makes some good points about how things don't add up, but then she loses all credibility by regressing into typical American religious extremist rubbish.

True there will be a collapse, but she seems to think all will be well if we just go back to a 'pure' capitalism without computerised trading etc. Truth is missus that the world has too many people and too many conflicting interests, and too little resources and too much ignorance.

The current system can't work, but neither can hers - nor for that matter anything we have tried before. To be honest I'm resigned to the fact that collapse is not just inevitable but actually needed as part of nature's cycle. We have grown too big - our last chance to sustain the growth and prosperity came and went with our failure to get off this rock and start colonising space during the 60s/70s.

[link to www.youtube.com]

Intelligent comment:

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We have rapid inflation in the USA right now.

Of course they say we dont. But I see it every day.

True, but don't lose sight of the fact that the real prize is ownership of the privatised assets. That is where value lies.

Gotta love Ann Barnhardt and she's right on the money....

I just started collecting social security early at 62. Friend of mine is waiting till he's 65 for a bigger check. He'll be lucky if he collects anything....

you voted for Obama, didn't you.....

Excellent analysis, and certainly scary enough assuming you believe the world's currencies are tangible. Fact is that they're not.

That said, the matrix of perception and deceit is still unraveling, which is what she is truly saying here. When that paradigm reaches critical mass, the end of everything we know will still change just as dramatically as if it were real.

All I can say is to accumulate as much TANGBLE/REAL stuff as you can prior to that time, and be prepared to defend it and your family until the new reality unfolds.

Historic times indeed.

Last Edited by SaveUSa on 11/11/2012 12:35 PM