Riots — Coming Soon to a Theater Near You!

January 22, 2009 at 12:27 am (Banking Crisis)

The worldwide depression is beginning to take hold. People can live only so long on hopes and promises, and then they get angry. Quickly. It seems Bulgaria and Lithuania are at that point, and so is Iceland.

None of this is surprising, and this is just a foreshadowing.  Many media outlets are admitting what just last year was dismissed as paranoia: that widespread unrest and rebellions are coming.  People blame the bankers and the governments for the economic collapse, and they’re correct to do so.  The wealthy have spent the last decade siphoning everything of value, inflating bubble after bubble and then cashing out.  Wealth, like energy, is never lost nor gained; it only changes form.  Massive wealth is sitting on the sidelines, in discreet accounts, part of derivative agreements, waiting to buy everything in the world at pennies on the dollar.  The demise of the troublesome, demanding, mouthy, worldwide middle class is imminent.  Only peasants will remain afterward.

As the swindlers scurry back into the shadows, leaving the commoners to deal with the aftermath, the commoners’ supposed representatives debate about how much more money we should give to the perpetrators to fix the problem.  Now we hear talk about sacrifice, yes — someone has to pay for the mess, and it won’t be the ones who caused it or benefitted from it.

Now, lest anyone think this will be limited to small European states, the US military reports a sudden collapse of Mexico is possible.  In fact, Mexico rates on par with Pakistan as far as stability!  Wow, did you see that one coming?  How would the US absorb the inevitable wave of refugees?  The explosive power of the cartels and gangs?  The instability of a major source of our oil?  I shudder to think.  What will happen in the UK when the country defaults on the pound?

And here at home of course, 44 states have a projected shortfall this year (the other 6 are in denial).  California can’t afford to send out welfare payments, disability for the blind, or tax rebates.  California has no money and no one wants to loan it any, either.  And for good reason. 

Today’s article of doom: let’s face it, the banks aren’t suffering from toxic assets; they are simply bankrupt.

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