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It’s Officially the Beginning of the End
More than two years ago, the day after we nationalized
Fannie and Freddie, I penned an article in which I forecast the end of the US
as an empire and the end of the US Dollar standard. Despite the fact that
others had been calling for a collapse of the US for years, my piece still
received a great deal of hostility and condemnation. The comments ranged from,
“you’re out of your mind, the US will
always be #1” to “I don’t like the
bailouts either, but you’re taking it too far.”
Here we are, two years later, and to be honest, the stuff
that has come to pass is simply mind-blowing. In plain terms, the US is now a
country in which…
- EVERYONE
knows that the Wall Street banks KNOWINGLY engaged in fraud (Citibank
executives confirmed this under oath), predatory lending, and other
felonies and NOT ONE executive has been charged with a criminal act.
- There
is clear evidence that elements of the Financial Crisis were intentionally
induced by key players in order to wipe out their competitors (you know who
I’m talking about).
- The
head of our central bank has LIED under oath about monetizing the debt
(among other things)… and walks free.
- Our
Secretary of the Treasury KNOWINGLY chose to hand out as much public money
to Wall Street in exchange for what he and everyone else knew were worthless
garbage assets. Again, no charges.
- Our
President increased troop levels for wars EVERYONE knows were started under
false pretences (and continued policies of torture!?!?!) and WON the Nobel
Peace Prize
Let’s face it… if an alien came down from outer space and compared
the US to other countries, it’d think we were just another 3rd world
country that somehow managed to get bigger than the others. We’ve got the same
levels of corruption, fraud, and lies, combined with the same looting,
indebtedness, and crumbling infrastructure.
In plain terms, this is the beginning of the end. When an
entire country’s economy is based on imaginary math, accounting gimmicks, and ideas
that don’t even make sense on paper (let alone in reality) you know that
economy will collapse.
Look at the reaction to QE 2. Even the most bullish idiot knows
deep down that nothing good will come out of it. QE 1 failed. QE 2 will as
well. Not one person has a single doubt about this. Sure, they might smile and
say it’s great on TV (or in their op-ed columns) because their job or political
pressure requires them to do so, however, their eyes tell the whole story. Not
one of them looks confident or composed… they all look exhausted, strung out,
and terrified. They should be, they know what’s at stake (EVERYTHING).
Enjoy this last little burst of enthusiasm while it lasts.
The end game has begun. There’s a reason it’s called “extend and pretend,” it’s
because it doesn’t STOP what’s coming… it only pushes it back a while.
Good Investing!
Graham Summers
PS. If you’re worried about the future of the stock market
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Crisis… I highly suggest you download my FREE Special Report specifying exactly
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I call it The
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This guy is an optimist.
The only solution is armed revolution. Period.
No revolution possible while the people (particularly the 20 somethings) are mesmerized by their ipods.
You think that technology was for entertainment? It was for control.
Funny how true that is. I consider myself a very mindful person, no electronic devices to distract me while I eat, take my wife out for lunch/dinner, drive a car etc. Very, very limited TV. So, when you pay attention to your surroundings, you see things.....
.....and I see more and more teens and 20 somethings than EVER, totally and completely unconscously tapping away on and being mesmerized by their "device". Even in the company of their peers, I have seen entire groups of 20 somethings just staring at their devices when there are perfectly good humans they could be interacting with right next to them.
In other words, this generation is fucked and ain't going to achieve anything, ever.
Right now, the best thing for this country is $200 bbl oil. Why, you ask? Awareness. It will get people's attention when they're paying $6 per gallon for gas, or when they can't afford to drive. Bernanke may just achieve this, then he's toast.
Often short term suffering is very necessary for real, lasting change. Bring it.
you are 100%. Go sit in on a problem solving meeting with a group of 16 to 21 year old, and half of them will be "text-ing" the person next to them about bullshit.
25th in the world now for math and science, now ain't we proud of "No Kid Left Behind". Behind what, they are dumber now then when Bush started this grand crusade. AND my real estate taxes are double with half going to education.
I think the ipod generation would be content to be homeless as long as they could find a charger outlet under the bridge.
Sad, just damn sad.
I agree with you, but would definitely NOT limit it to a specific age group.
Some years back, a career clerk with the US Coast Guard, who was retired and double-dipping at the Army Corps of Engineers (although I never quite figured out what he did there?), made the following statement (and he was in either his late 60s or early 70s, age-wise):
"I don't care if you're standing out in the middle of a snow blizzard, at 2:00 AM in the morning, and it's in a rural area with not a single car in sight; if the traffic light is against you, you wait until it changes before crossing the road." (I know, what's the likelihood of a traffic light in nowheresville, but still....)
I responded, "So, you follow the dictates of a bi-stable electric device to guide your existence?"
The typical American zombie consumertard, between the ages of 20 to 80, is ignorant beyond belief!
Sounds German. Hard to beleive: no cars anywhere, just people waiting for the light to change to cross the street. And the looks that I got when I wouldn't wait. Poor doomed fools.
Was surprised to see Jesse go as far as he did. Beck is hammering on some of it. Just need someone with the nut to do an infomercial laying out the FED in a simple 1/2 hour spot. It feels like the end is near.
(you know who I’m talking about)
stop being a little pussy and name names. strap on a pair of balls, dewd. last nite jesse ventura on his trutv show, blasted goldmansachs for being the corrupt precious metals manipulator that it is.
http://www.youtube.com/watch?v=qsSOoVjLvg0
Its bad enough for us. But what about the children? What about the children?
The only thing that will save the children from the meatgrinder is me and you. Self sacrificial love, agape'. If I dont take the hill, nobody else will. So....will I play 18 holes or go out with honor? You?
+ 6 / 6 / 44
It only corrupt if you think it is.
So, if I just imagine that the Fed is not destroying the economy, and that the bankers are not looting the treasury it will be so. Gee, that's an easy fix!
the assumption is that is wasn't like that before
now, with the internet, it is much easier too veriview and put the pieces together to make what you sensed or felt is factually true, yet, that doesn't make us the majority
personally, from the way i work my numbers we have too much debt and not enough profit too service the debt
yet, the government is doing everything and continues to do evertyhing to get the banks as whole as possible, illegal, stupid, ignorant, dumb.................yet, the mor it continues you realize at least for me this has been always done, this time the problem is just bigger
at this point the only thing that makes logical sense is usa and china in a currency struglle, from the standpoint is usa feels we've bent over backwards for twenty years too great a global economy, and in the mean time our banks did some stupid shyte, which banks always do, and now we all need to work together, and by god rest of the world, if u won't help us, we will force you too, pretty black and white now in my opinion
that's my general take
number two is the gubment is 100 percent believers in peak oil, and the housing bs was the worst thing at this time, thus, ben and the boys want r and d not too contract buy grow asap and faster and faster to get us out of this problem, so letting things take several years to natural reset is potential destruction
those are my best guesse's, and when you have the biggest mofo military you can do what u believe is right
i think the problem for them is most of us have worked for half a dozen companies and some were disastoursas, and every move they make is similar to the disastoruous ones, so it is hard for us to see the upside
such is life, fact is trend is up and strongly, this is a major breakout move, money that use to go too buy mortgages, where do they go, right to the market, monetize things, where does money go, right too market, ira's 401k's haven't change for majority, the money comes in every quarter, personally imho, qetwo is more of a hey mfund guys when the money comes in in early october we will support your investments so don't be stingy, plus, i'm sure ben knows lot's of us are shorting, at least i've been on the way up certain things, yet, i've shorted enough in my life time that i got two days left or i flip long
good luck too all
Why do we have to destroy our currency just to get even with china? All we have to do is stop buying what they're selling. We don't have to destroy our entire monetary power to get cheaper toasters.
We have the power to just say no to what they're selling. Problem solved.
Sorry, who's currency?
Just because you use it, doesn't mean its yours peasant!
The damned cheek of it, filthy rabble getting ideas above their station...
You say no, Uncle Sam says yes and a TBTF gets more of your money for individual bonuses. See the problem yet?
IPC, please take this as constructive criticism. Your message would be much more believable if you would take a few seconds to spell check and edit your posts before hitting save. It is very difficult to understand the full meaning of any post when one has to struggle thru the message. In the English language, words mean things. What English lacks in poetry, it makes up in precision. If you are not precise and clear, you will be dismissed. Just a thought.
+1
If we ask and all the bloggers are on board, that we should have a run on BAC, we can take it all down and stop QE2. Shut down Bank of America and kill it all. We can do this.
Inspirational video
http://www.engineeringradio.us/blog/2010/09/tower-climbing-video/
Graham, in the words of Arthur Bach, you may be right--I can't decide.
The truth is that the end of anything can take a very long time. Since almost all successful speculation depends on getting the timing right, where does all this leave the speculator?
True.
And will take longer than we imagine I think.
But you can be sure it will hurt all the way
I love graham summers!!!
"We’ve got the same levels of corruption, fraud, and lies, combined with the same looting, indebtedness, and crumbling infrastructure."
damned straight....plus we have a fooled nation of fucktards who think that obama was not born in kenya and is not an indonesian citizen....lacking discernment among its citizens renders a nation impotent and enslaved.
the usa is ending the way all corrupt empires go....its demise will not be mourned any more than the jailing of a rapist....
Dude I am with you up to the "Kenya" carp. Why can't you let that shit go? I could support a lot more of yout "types" if you would stopp with the "9/11 Truther" and the "Birth Certificate" crap.
Right. The fact that he refuses to show his birth certificate does not prove he doesn't have one. I think I will try that argument next time a cop asks me for ID.
Yopur argument is incorrect, what you need to be asking the cop is does he have his LEO certificate. See how far that get's ya. Obama is President and has been for two years, and arguing about that crap does not make any difference. Look to the future.
Guess Tony Bonn has never heard of "Fait Accompli"
The five bullet points are just some of many reasons why the rest of the world simply hates the US. When they get half a chance, every usd will come flying back home to roost at light speed.
Sure, they might smile and say it’s great on TV (or in their op-ed columns) because their job or political pressure requires them to do so, however, their eyes tell the whole story.
I attended the annual Chamber of Commerce banquet Thursday. Through the evening, the master of ceremonies, a successful financial advisor, interjected stock comparisons between now and two years ago. "The economy is taking off....the stock market is coming back....prosperity is returning" were some of his comments. The audience was not taking any of it. Their eyes were as dead as the silence in the hall. All I could think of was the sound of chamber music on the deck of the Titanic as it slowly canted to one side.
Jeepers! The next thing you'll be saying is that the unaccounted for $8.7 billion in Iraqi reconstruction funds wasn't an accident, nor the unaccounted for $17.7 billion in Afghanistan reconstruction funds, and that Daniel Zelikow might actually be related to Philip Zelikow?
Seriously, though, I appreciate a re-statement of the obvious from time to time, so I applaud this post.
And why again did you not scream : LIES, THOSE ARE LIES AND NOBODY IS BUYING IT!
?
Those people must be confronted with their BS otherwise they'll continue...
Blah, blah, blah - sorry I wasted my time reading the article.
Hmmmm... so you must agree and it is simply so obvious that it is boring to you. Otherwise, you would provide some intelligent counter-argument that was at least as good as the article itself.
Sorry, I wasted my time reading your comment. It adds nothing, not even a clear reason why you think the article was a waste of time.
The space monkeys at http://richarddawkins.net/ are also looking for intelligent counter-arguments that Evolutionists are wrong and evolution is an insufficient theory. They truly believe in their heart of hearts that Charles Darwin was absolutely right and the creationists were absolutely wrong. Of course, the truth is somewhere in the middle, but more so on the creationists' side. But there was no convincing the space monkey evolutionists. They were too smart to need any convincing; they have convinced themselves with superior logic and reason. At last, the Darwin space monkey evolutionists were still wrong. Smart and wrong is still wrong.
Even the founder of the dna molecule said we have alien genes:
http://abetterwaytotradestocks.blogspot.com/2010/10/dont-worry-you-have-alien-genes.html
Look, can you just take your creationist bullshit elsewhere? This blog is about economics.
This blog is about much more than economics and the comment threads are what WE make them.
Just leaves us with the problem of how life started for the aliens? Back to creation/evolution argument, but at a distance.
Sorry Graham, not much substance here to chew on.
All right MM, whatever, and it is a slow Saturday night so lets cut Graham some slack, and infill the theme starting with there is no SEC!.
The SEC is an illusion?!?......!!!
So, the SEC exists in the peoples' minds much in the same way as Santa Claus exists in the mind of a child.
If the Middle Class ever wakes up to the reality and elects its sheriff look the fuck out.
The SEC is a tool, and it is not yours.
There must be some big laughs around the table at FED meetings.
Mata ne.
The middle class already woke up. That's why the republicants took over the house. That's the middle class revolution, bro.
I wish that would make a difference, but the Republicans are bought and paid for, just as well as the Democrats.
Ron Paul will be made monetary committee chairman to give the teabaggers a bone, but the core policies will remain intact.
I agree.......the Democrat/Republican thing is nothing more than a false choice for concerned voters with the only result possible being repetative disappointment.
Politics is all about self service as opposed to public service.
Hydra lives.
Actually, a good summary statement of where things stand.
Here is a gift for you!
http://thedailybell.com/1507/Rick-Rule-on-Scarce-Commodities-the-High-Pr...
Hope that you enjoy it.
Actually, no.
If you want more beating, then keep shorting like Phoenix.
7 Stupid Things Smart People Say:
http://abetterwaytotradestocks.blogspot.com/2010/11/7-stupid-things-that-smart-people-say.html
And no, Bernanke is not an idiot.
No, Ben's not an idiot, he's a sociopathic liar.
Don't tell Beanieville...Bernanke is the only thing keeping his hope alive for any recovery:
http://www.youtube.com/watch?v=9QpD64GUoXw
This should be made into a SNL skit...LOL.
When is your next stand up comedy act? What's gotten better? In between a completely dead labor market, insurmountable debt levels surging, the dollar falling through the floor, record numbers of people on food stamps, the beginning of margin squeezes at many companies, trade/currency wars, fake accounting rules which allow the zombies to keep walking, unfunded liabilities into outer space, etc. I really can't seem to pick out the good news. I guess, from your reasoning, since Apple/Starbucks shares are up in debased currency everything is better.
And sure, Ben isn't an idiot, he will be right again just like he was right in 2005-2007 when there would be no nationwide decline in home prices, the economy was doing great, subprime was a tiny problem, etc. Not to mention the man has so much experience in the private sector, oh, wait, well it's OK he's read some books. Another day, another clown.