See, that's really the story behind the story. How folks see the current situation depends on how they see the last three decades, since the Reagan years. Carter's 'malaise' speech posed a question: whither America? Reagan provided the answer. The answer was the screeching rise of predatory capital, both domestically and globally. Volker started it all, by knocking everyone down several pegs with a vicious recession, a monetary policy that, as vicious as it was domestically, was truly savage on a global level.
Then the glorious recovery began. And we all pretended not to notice that suddenly, we were all working harder for less. Almost overnight, women in the workforce became a necessity, not a choice. But we didn't notice. It took two incomes to run a household. But we didn't notice. Inflation began to run away, but because you could buy cheaper and cheaper goods at Wal-Mart (so cheap that it made no sense to fix anything anymore), no one noticed. The roof over your head, the education for your children, the medical care ... all these things began to skyrocket in cost ... but you could get loans ... more and more loans. And you could work more jobs. During the Clinton era, two jobs wasn't enough for a household anymore. Now Mom had a second job at night. Preachers railed about the 'breakdown of the American Family', but they always attributed this to the moral turpitude of ordinary people, who were having to work harder and harder just to keep things going, AND WERE DOING IT!
Finally people lost all hope of keeping up. That's when the real loan frenzy started. Nothing made sense anymore, and there was no way that things could work out that anyone could really imagine. The future was just unimaginable. But economists said that the economy would keep expanding, without industries or jobs, because of sophisticated financing, and a second mortgage WOULD help with Sally's college expenses, or Dad's medical care, or the extra car that the extra jobs necessitated, and so maybe you could keep the household going, and surely the economists had to be right about how bright the future surely was ...
And so we've been living in an economy that has been in a death spiral for decades, but - with a lot of help from Hollywood - we've imagined ourselves to be in a completely different place, in an economy revenant.
We were experiencing the Glory that was Rome. We had our pride. And now we continue to refuse to open our eyes. We still have more guns than anyone else, more prisons than anyone else, and we still have the Dream Factory.
But we don't have an economy. Not for most people.
Recoveries with negative job growth? Only actual jobs being created are in the govt sector that creates nothing but endless debt? Housing market return or bubble? Are we really still spending time on these types of discussions? I apologize in advance at my tone but it is just too disgusting to me that much of the country and beyond are still propping up these frauds at this incredibly late juncture....
The reality is when the dust settles, the banks and big corps will own most of the real assets on the cheap. The usual suspects that create ridiculous wars, and fiat currency ponzi systems are stealing everyone blind. Anyone that doesn't call it like it is either benefiting from it, afraid for their own head, or simply has no clue.
Inflation on everything that is necessary for Americans to survive has already risen massively. Only ridiculous CPI equations that play hide the weenie and exclude food, housing and fuel do not spell this out on purpose....
As necessities rise beyond reach, and no one has a job to be able to afford a home regardless the price, it will be clear who has won this game and how.
Do we really think that all this crushing debt that has destroyed the third world (now most real assets are becoming owned by the bankers and big corps), and is now being wielded upon the West in similar fashion was not by design? Decades of duping the less fortunate has emboldened the global governance crowd to crush the Western world.
It is criminal that it is not being called out by name by the "journalism" community. It is the biggest, most pervasive, most violent, most destructive economic pillaging the world has ever seen. Shame on us all for not reporting reality.
The IMF announced they are prepared to provide $100T more credit to markets! Yippee. Anyone listening?! Credit is quite synonymous with DEBT last time I checked. Crushing, stifling, enslaving debt. They also announced they are ready to role out their new currency, the Bancor.
How are those Greece pillagings, I mean bailouts, treating everyone? 2nd default in a blink? Wow, the bankers and politicians must really know what they are doing to have set up an immediate second default with their master bailout plans. You bet they do...they are now owning Greece, then Ireland, Spain, Portugal, Italy, France, Ukraine and many many more to come down the line....
Contrasting the last depression with today:
1. There was very little state debts then, now massive.
2. There was reasonable Fed Govt debt, now it breaks calculators.
3. There was not an estimated >$200T in exotic investment vehicles like derivatives (more money out of thin air). How do we resolve what some estimate is possibly more than double that number? It has to wash out at some point.
4. Consumers had very little debt. Now >$14T.
5. The US had manufacturing as great as the world has seen...now has very little thus cannot build itself out of debt.
6. Did not have unlimited money printing of a currency backed by...NOTHING.
Hey, I have a solution-a centralized global banking system. That way we could hand over all sovereignty right now!
All empires die, and they always die from within. Only fools would think this one would be any different. We have every symptom of the death rattle of a former empire - rampant corruption, wealth consolidated in a tiny few's hands(we have more income disparity than Egypt and >30 other countries), multiple criminal illegal wars, false flag attacks, the Infamous White House Murder INC, UKUSA alliance of evils, Zioconned Intelligence agencies worldwide, utterly corrupt and complicit main stream media on a massive scale and the coliseum to distract the sheep, numerous attorneys perpetuating the game, justice system that only serves the cartels....etc etc.
Lets start getting some courage shall we?
There are some people who are shocked to learn that White House spokesmen issued 935 documented falsehoods to lie us into the barbaric White House Murder INC, the inside Job of 9/11, the Iraq war, Afghanistan, Pakistan, Lebanon, Gaza & More to come soon… This says nothing of the far greater number of lies told to create the “war on terror” itself. If it wasn’t for the flowing river of lies known as the “US Government,” we would not now be staring down the barrel of the nuclear gun at another innocent Muslim country. It took thousands of dedicated war party disinformation agents, working non-stop for decades, to give substance to the myth of al-CIAda, the official justification for the wars. It has taken many thousands more to sustain the war based on utter lies, against an imaginary enemy. It is only another small step to extend those lies about wars against imaginary enemies to Iran, an imaginary enemy with imaginary nuclear weapons.
Bush, Cheney, Obomba and both of their Congresses have chosen to ride the raging river of lies known as the war on terrorism like lunatic “surf-Zionazis,” blinded to the dangers swimming just beneath the surface, oblivious to the destruction left in their wake. The humongous bills for the wars and for the destruction, killings, extra-judicial assassinations that the Zioconned USA have sown is coming due, before the end goals are met – before the world war can be jump-started. Strategic alliances are falling apart in reaction to America’s obvious goal of total world domination, Clean Break and full spectrum dominance…