Headlines over the past weeks have once again been dominated by the global financial crisis with markets plunging around the globe. The prospect of a second credit crisis is growing and the warnings are ominous. Confidence that conditions can improve is plummeting in financial circles as hope is lost for the European Union and the Euro. Markets have been swinging madly and hope is running out that world leaders can save us from what they have, in their stupidity, managed to accomplish.
The head of China’s biggest ratings agency, Dagong Global Credit Rating, is warning that it may downgrade the US’s sovereign debt rating again because of Washington’s failure to tackle the federal budget deficit. The remarks by Dagong’s chairman, Guan Jianzhong, came at the end of another week of deep turmoil for the world economy. Things are getting quite uncomfortable in the world and the stakes have never been higher than they are today.
Only the worst fools have been thinking that the world was going to solve its debt problem with more debt. Over the past 30 years, the global financial system has constructed a gigantic mountain of debt, risk and leverage unlike anything the world has ever seen before. At some point the whole thing is going to come crashing down. When it does, it is going to affect just about everyone.
John Clancy wrote, “It is now three years on from the start of the financial collapse. It is still happening. It didn’t go away. It’s just that it’s now getting worse. We are still stuck in the middle of it. The pause button was hit for fear of allowing the action to play out. The upcoming scenes were just too horrific to contemplate. The press of that pause button was the big bank bailout. The idea was that we could hit the next chapter button after the pause. Unfortunately the horrific deleted scenes have appeared instead. It seems like everything which was there the day before Lehman’s crashed on September 15, 2008, is actually pretty much still there now: same teetering, dodgy, private sector debt. And all of it in banks.”
No one in the world is more in love with getting deeply into debt than the United States government. “The U.S. national debt—any day now—will soar above the $15 trillion mark. As of this writing, the total debt is $14.97 trillion, so moving beyond the symbolic $15 trillion is a foregone conclusion,” reports ABC News.
How in the world do supposedly rational people living in “the greatest nation on earth” allow themselves to commit national financial suicide by allowing government debt to explode? The answer to this question was recently seen at the recent G 20 meeting where the participants were seen unloading from the limos onto a red carpet. One would have thought the G 20 was the Oscars but no—all these diplomats came to discuss austerity.
Most of Europe and Japan are not far behind the US in what has become a one-way street into the hell of deep debt. This hell comes only after one has enjoyed what the debt at first buys and brings to our individual and then collective lives. Bob Chapman writes, “Obviously government cannot function unless we continue as we have been, building more debt, and Americans will just have to be patient until the whole debt edifice collapses.”
The Burning Platform published:
The EU has put a tourniquet over a cancerous tumor. The entire world is awash in bad debt and until this debt is liquidated, we will stagger from crisis to crisis like a drunken sailor. John Hussman describes the master plan:
In effect, European leaders have announced “We have agreed to solve our debt problem, leveraging money we do not have to create a fund, which will then borrow several times that amount in order to buy enormous amounts of new debt that we will need to issue.”
As politicians and central bankers around the world desperately try to keep their debt-drenched ponzi scheme going for awhile longer, the mood darkens among the populations of developed countries around the world. I came across a quote from, of all people, Vladimir Lenin that describes how the last six weeks seemed to me:
“There are decades where nothing happens;
and there are weeks where decades happen.”
It seems like history is accelerating. Momentous events have been occurring regularly since 2007. Our political and financial leaders are blindsided on a daily basis by each new crisis. The majority of the American public continues to be apathetic, willfully ignorant, and constantly absorbed by their array of electronic gadgets and mindless drivel spewed at them by media conglomerates. Rather than think critically, most Americans allow left wing and right wing mainstream media to formulate their opinions for them through their propaganda and misinformation operations. Sadly, the nation is filled with people that don’t want to think.
Have you ever fallen into a well? No matter how hard you try to climb out of the water, the walls are too slippery and round. It’s a no-go and the sooner you realize this and conserve your energy the better. What should you do if you have a debt problem? First recognize that you have a problem and then stop spending. If the federal government were humble enough to recognize their problem and sit before a financial debt counselor, they would be told to stop feeding the beast—quit paying for things they can’t afford!
But no government (because they are run by politicians and bureaucrats) takes good advice and now it’s too late. Stopping debt creation (austerity) is suicidal but the kicker is that if we do not put an end to our financial system it will collapse on its own, destroying millions in the process. It’s like driving a car at high speed into a six-foot-thick wall. We can pull the trigger and blow our brains out before hitting the wall or wait for the wall to end things for us. Either way the end will not be pretty.
Someone who is addicted to debt uses debt as a crutch for solving their financial and personal problems without any plan for living differently or getting out of debt. Other signs include living paycheck to paycheck and never planning for the future, constantly being in financial crisis, or being unwilling to take care of oneself in order to pay creditors.
Nothing is solved when you give a heroin addict more heroin. Same goes for the drunk. Managing problems without solving anything is the best politicians can do. It’s like treading water in that well. You know you are going to drown sooner or later but you still keep kicking. Some screaming might bring help but who is going to come to the rescue of the Americans or the Europeans who have been trampling over humanity for centuries?
Right now there are over 45 million Americans on food stamps. The economy is supposed to be “recovering,” but the number of Americans on food stamps has grown by over eight percent in just the past year.
The Automatic Earth wrote a few months ago, “On the real issues, nothing has changed since at least the demise of Bear Stearns and Lehman, and arguably way before that. There is too much debt in the system, way too much, perhaps as much as 10, 100 or even 1000 times too much. A government spending itself into colossal new debt levels can perhaps create the illusion of recovery for a limited period of time (check), but it will all end up just making things worse down the line.”
Whether you are buying a car, a home, clothes or electronics, or fighting a war that you cannot afford to fight, it is irrelevant. The key is that you are buying what you cannot afford. If you regularly spend money you don’t have, you are a heavy debt user. If you cannot afford to pay your bills and you continue to spend money, you are a debt addict.
The economic contraction that is beginning to be felt everywhere is going to make mincemeat out of the tax base and thus the fiscal condition of cities, states and the federal government. The bells of doom, can you hear them ringing? The Catholic Church is certainly ringing them and that should send a chill up our spines.
Trust the Church?
The Catholic Church’s call for a world financial authority is chilling because it is enslaving madmen who will be put at the helm. Humanity is on a collision course with itself and Nature seems to be cheering, pressing many to a terrible end. The present and near future promises historic moments and sanity is not assured when the masses wake up to the extreme danger facing them and their families.
Neither extreme fascist control nor total anarchy are kind choices. We know which way the elite want things to go and now we know the intention of the Catholic Church, which has never been kind to men, woman and children. Its history is stained with blood. It has tortured and killed in God’s name and creates conditions where its priests turn into pedophiles.
Their sacred music is nice but that is no comfort and offers no protection from the dark energy that has ruled the church since its beginnings in Rome. From the ashes of Roman evil the church rose through the centuries and ruled with a supreme hand during the dark ages. I say this as a custodian of a sacred shrine for Mother Mary, who, like her son, would have parsecs (astronomical measurement) of shame for the Church and its actions.
Only Ourselves to Blame
The Burning Platform said, “Our Baby Boomer leaders did the exact opposite of the right thing. They held the American taxpayer hostage and absconded with trillions of their tax dollars and handed it over to the same Wall Street banks that had run the largest fraud scheme in world history and blew up the worldwide financial system. The politicians borrowed trillions from future unborn generations to inflict a Keynesian nightmare of solutions on the American economy. It seems the young people in this country have realized they have no future when the system is run for the benefit of an oligarchy consisting of Wall Street banks, mega-corporations, media conglomerates, and puppet politicians in Washington D.C. These people will stop at nothing to retain their wealth and power. Not only do they want to retain it, they are actively trying to increase it. They have achieved their goal beyond all expectations, and are still able to convince a large portion of the population through their propaganda machine that they deserve every penny. When the 400 wealthiest Americans own more than the “lower” 150 million Americans put together, you have a system that is badly broken.”
“The Eurozone and U.S. sovereign debt crisis will continue to grow dramatically worse in 2012 as debt levels among Western nations continues to soar. As bad as 2011 was, 2012 may push the world into even more adverse uncharted economic territory. Japan, the Eurozone, and even the U.S. are struggling with massive deficits as their economies deteriorate, unemployment rises, and natural disasters increase. The U.S. federal debt could exceed $17 trillion dollars by the end of 2012,” writes the Extinction Protocol.
These next weeks and months will have a lot to say to us so we better be listening. There is really nothing much we can do about what is happening out there in the world but there is plenty we can do to prepare physically as well as spiritually.