Debt Dynamite Dominoes: The Coming Financial Catastrophe

Posted on February 23, 2010
Filed Under Critical Issues, Must Read | 1 Comment

The people have been lulled into a false sense of safety under the ruse of a perceived “economic recovery.” Unfortunately, what the majority of people think does not make it so, especially when the people making the key decisions think and act to the contrary. The sovereign debt crises that have been unfolding in the past couple years and more recently in Greece, are canaries in the coal mine for the rest of Western “civilization.” The crisis threatens to spread to Spain, Portugal and Ireland; like dominoes, one country after another will collapse into a debt and currency crisis, all the way to America.

In October 2008, the mainstream media and politicians of the Western world were warning of an impending depression if actions were not taken to quickly prevent this. The problem was that this crisis had been a long-time coming, and what’s worse, is that the actions governments took did not address any of the core, systemic issues and problems with the global economy; they merely set out to save the banking industry from collapse. To do this, governments around the world implemented massive “stimulus” and “bailout” packages, plunging their countries deeper into debt to save the banks from themselves, while charging it to people of the world.

Then an uproar of stock market speculation followed, as money was pumped into the stocks, but not the real economy. This recovery has been nothing but a complete and utter illusion, and within the next two years, the illusion will likely come to a complete collapse.

The governments gave the banks a blank check, charged it to the public, and now it’s time to pay; through drastic tax increases, social spending cuts, privatization of state industries and services, dismantling of any protective tariffs and trade regulations, and raising interest rates. The effect that this will have is to rapidly accelerate, both in the speed and volume, the unemployment rate, globally. The stock market would crash to record lows, where governments would be forced to freeze them altogether.

When the crisis is over, the middle classes of the western world will have been liquidated of their economic, political and social status. The global economy will have gone through the greatest consolidation of industry and banking in world history leading to a system in which only a few corporations and banks control the global economy and its resources; governments will have lost that right. The people of the western world will be treated by the financial oligarchs as they have treated the ‘global South’ and in particular, Africa; they will remove our social structures and foundations so that we become entirely subservient to their dominance over the economic and political structures of our society.

This is where we stand today, and is the road on which we travel.

The western world has been plundered into poverty, a process long underway, but with the unfolding of the crisis, will be rapidly accelerated. As our societies collapse in on themselves, the governments will protect the banks and multinationals. When the people go out into the streets, as they invariably do and will, the government will not come to their aid, but will come with police and military forces to crush the protests and oppress the people. The social foundations will collapse with the economy, and the state will clamp down to prevent the people from constructing a new one.

The road to recovery is far from here. When the crisis has come to an end, the world we know will have changed dramatically. No one ever grows up in the world they were born into; everything is always changing. Now is no exception. The only difference is, that we are about to go through the most rapid changes the world has seen thus far.

Read Full Article Here: Debt Dynamite Dominoes: The Coming Financial Catastrophe.

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One Response to “Debt Dynamite Dominoes: The Coming Financial Catastrophe”

  1. NewAmericaNow on February 23rd, 2010 12:25 pm

    The root cause of the problem is that the people have turned a blind and apathetic eye at who runs their affairs in government. Greed will always be a part of human nature and yes greed has played a large part. Greed in the form of corporate profits or political power. However, we the people have allowed our politicians to run amok. Our government is suppose to do only a few things as is stated in our Constitution. protect the individuals rights of life, liberty and pursuit of happiness from those that would take it from them, which includes corporations, banks and states, and protect agains invasion from foreign enemies. Pretty simple. To ask more from something that was considered dangerous to our liberties by our founding fathers would pose the risk of releasing a government from its box and run the loss of freedoms in the form of protectionistic tyrranny. Healthcare is not a right but a privledge and as much as we would like everyone to have affordable healthcare, it is not the governments job to supply it because if we must take what belongs to one to give to another then no one is truly free to enjoy the fruits of their labor. The challenge for people to strive to improve their condition must always persist if change is to be saught by ones own accomplishment. Unfortunetly, the time has past for the problems to be fixed without great pain to the world populations. The crisis we have before us will unfold into a crisis of apocalyptic proportions. Prepare because if you believe your politicians will solve this problem you and your family will suffer dearly. I hope someone listens to this for their sake http://www.newamerica-now.blogspot.com

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