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12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost Here

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

Are we running out of time?  For the last several years, we have been living in a false bubble of hope that has been fueled by massive amounts of debt and bailout money.  This illusion of economic stability has convinced most people that the great economic crisis of 2008 was just an "aberration" and that now things are back to normal.  Unfortunately, that is not the case at all.  The truth is that the financial crash of 2008 was just the first wave of our economic troubles.  We have not even come close to recovering from that wave, and the next wave of the economic collapse is rapidly approaching.  Our economy is like a giant sand castle that has been built on a foundation of debt and toilet paper currency.  As each wave of the crisis hits us, the solutions that our leaders will present to us will involve even more debt and even more money printing.  And each time, those "solutions" will only make our problems even worse.  Right now, events are unfolding in Europe and in the United States that are pushing us toward the next major crisis moment.  I sincerely hope that we have some more time before the next crisis overwhelms us, but as you will see, time is rapidly running out.

The following are 12 things that just happened that show the next wave of the economic collapse is almost here...

#1 According to TrimTab's CEO Charles Biderman, corporate insider purchases of stock have hit an all-time low, and the ratio of corporate insider selling to corporate insider buying has now reached an astounding 50 to 1....

While retail is being told to buy-buy-buy, Biderman exclaims that "insiders at U.S. companies have bought the least amount of shares in any one month," and that the ratio of insider selling to buying is now 50-to-1 - a monthly record.

#2 On Friday we learned that personal income in the United States experienced its largest one month decline in 20 years...

Personal income decreased by $505.5 billion in January, or 3.6%, compared to December (on a seasonally adjusted and annualized basis). That's the most dramatic decline since January 1993, according to the Commerce Department.

#3 In a stunning move, Michigan Governor Rick Snyder says that he will appoint an emergency financial manager to take care of Detroit's financial affairs...

Snyder, 54, took a step he avoided a year ago, empowering an emergency financial manager who can sweep aside union contracts, sell municipal assets, restructure services and reorder finances. He announced the move yesterday at a public meeting in Detroit.

If this does not work, Detroit will almost certainly have to declare bankruptcy.  If that happens, it will be the largest municipal bankruptcy in U.S. history.

#4 On Friday it was announced that the unemployment rate in Italy had risen to 11.7 percent.  That was a huge jump from 11.3 percent the previous month, and Italy now has the highest unemployment rate that it has experienced in 21 years.

#5 The youth unemployment rate in Italy has risen to a new all-time record high of 38.7 percent.

#6 On Friday it was announced that the unemployment rate in the eurozone as a whole had just hit a brand new record high of 11.9 percent.

#7 On Friday it was announced that the unemployment rate in Greece has now reached 27 percent, and it is being projected that it will reach 30 percent by the end of the year.

#8 The youth unemployment rate in Greece is now an almost unbelievable 59.4 percent.

#9 On Saturday, hundreds of thousands of protesters filled the streets of Lisbon and other Portuguese cities to protest the austerity measures that are being imposed upon them.  It was reportedly the largest protest in the history of Portugal.

#10 According to Goldman Sachs, bank deposits declined all over Europe during the month of January.

#11 Over the weekend, the deputy governor of China's central bank declared that China is prepared for a "currency war"...

A top Chinese banker said Beijing is "fully prepared" for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.

Yi Gang, deputy governor of China's central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow.

Those fears have largely been fuelled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals.

#12 Italy is an economic basket case at this point, and the political gridlock in Italy is certainly not helping matters.  Former comedian Beppe Grillo's party could potentially tip the balance of power one way or the other in Italy, and over the weekend he made some comments that are really shaking things up over in Europe.  For one thing, he is suggesting that Italy should hold a referendum on the euro...

"I am a strong advocate of Europe. I am in favor of an online referendum on the euro," Beppe Grillo told Bild am Sonntag.

Such a vote would not be legally binding in Italy, where referendums can only be used to repeal laws or parts of laws, but would carry political weight. Grillo has said in the past that membership of the euro should be up to the Italian people.

In addition, Grillo is also suggesting that Italy's debt has gotten so large that renegotiation is the only option...

In an interview with a German magazine published on Saturday, Mr Grillo said that “if conditions do not change” Italy “will want” to leave the euro and return to its former national currency.

The 64-year-old comic-turned-political activist also said Italy needs to renegotiate its €2 trillion debt.

At 127 per cent of gross domestic product (GDP), it is the highest in the euro zone after Greece.

“Right now we are being crushed, not by the euro, but by our debt. When the interest payments reach €100 billion a year, we’re dead. There’s no alternative,” he told Focus, a weekly news magazine.

He said Italy was in such dire economic straits that “in six months, we will no longer be able to pay pensions and the wages of public employees.”

And of course government debt has taken center stage in the United States as well.

The sequester cuts have now gone into effect, and they will definitely have an effect on the U.S. economy.  Of course that effect will not be nearly as dramatic as many Democrats are suggesting, but without a doubt those cuts will cause the U.S. economy to slow down a bit.

And of course the U.S. economy has already been showing plenty of signs of slowing down lately.  If you doubt this, please see my previous article entitled "Consumer Spending Drought: 16 Signs That The Middle Class Is Running Out Of Money".

So what comes next?

Well, everyone should keep watching Europe very closely, and it will also be important to keep an eye on Wall Street.  There are a whole bunch of indications that the stock market is at or near a peak.  For example, just check out what one prominent stock market analyst recently had to say...

"Every reliable technical tool is warning of major peaking action," said Walter Zimmerman, the senior technical analyst at United-ICAP. "This includes sentiment, momentum, classical chart patterns, and Elliott wave analysis.

"Most of the rally in the stock market since 2009 can be chalked up to the Federal Reserve’s attempt to create a ‘wealth effect’ through higher stock market prices. This only exacerbates the downside risk. Why? The stock market no is longer a lead indicator for the economy. It is instead reflecting  Fed manipulation. Pushing the stock market higher while the real economy languishes has resulted in another bubble.

"The next leg down will not be a partial correction of the advance since the 2009 lows. It will be another major financial crisis. The worst is yet to come."

Sadly, most people will continue to deny that anything is wrong until it is far too late.

Many areas of Europe are already experiencing economic depression, and it is only a matter of time before the U.S. follows suit.

Time is running out, and I hope that you are getting ready.

So what do you think?

How much time do you believe that we have left before the next wave of the economic collapse strikes?

Please feel free to post a comment with your thoughts below...

Jeff Rowley Big Wave Surfer wipeout Photo Jaws Peahi by Xvolution Media

- See more at: http://theeconomiccollapseblog.com/archives/12-things-that-just-happened...

 

 

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Mon, 03/04/2013 - 11:56 | 3297813 Perpetual Burn
Perpetual Burn's picture

Gloom bitches.

Mon, 03/04/2013 - 11:57 | 3297817 camaro68ss
camaro68ss's picture

Doom bitchez

long booze, popcorn, and lawn chair.

Mon, 03/04/2013 - 12:00 | 3297828 Zer0head
Zer0head's picture
Is The World About To Experience A Devastating Economic Collapse?

http://theeconomiccollapseblog.com/archives/is-the-world-about-to-experi...

Mon, 03/04/2013 - 12:10 | 3297871 wareco
wareco's picture

Hmmm, apparently not, since that article was written over 3 years ago.  Making forecasts is always a bitch.  Ask those Italian seismologists.

Mon, 03/04/2013 - 12:16 | 3297889 Paul Bogdanich
Paul Bogdanich's picture

These forecasts are so ego-centric as to be comical.  Russia collapsed in 1990.  Everyoen ddn't die they just lost their empire and the inate landmass and population and insudtrial base has them back stronger than ever a mere 20 years later.  The U.S. has plenty of aridable land, water, population and industry and the inate motion of the society wil carry it forward assuming we do something about the political system.  For profit campaigns, hospitals, electric utilites, prisons and so on are a bust.  The corruption becomes overwhelming much too quickly.  

Mon, 03/04/2013 - 12:27 | 3297941 Xibalba
Xibalba's picture

US Spring will make Arab Spring look like a college frat party.   I suggest you go watch 'IDIOCRACY' since that's likely to become a documentary of our future.  

Mon, 03/04/2013 - 12:31 | 3297958 darteaus
darteaus's picture

I'll take that over "Triumph of the Will", or "Ten Days That Shook the World".

Mon, 03/04/2013 - 13:02 | 3298081 Bicycle Repairman
Bicycle Repairman's picture

No doubt these are all bad things.  Do they protent a discrete event in a short timeframe?  Not necessarily.

And if the timing is wrong, then you are wrong.

Mon, 03/04/2013 - 13:10 | 3298100 Shocker
Shocker's picture

13) The Job Situation is horrible

http://www.dailyjobcuts.com

-

Mon, 03/04/2013 - 13:17 | 3298126 knukles
knukles's picture

14)  DHS buys 1000's of tanks for domestic use.

http://www.thegatewaypundit.com/2013/03/obama-dhs-purchases-2700-light-a...

Mon, 03/04/2013 - 13:24 | 3298148 redpill
redpill's picture

Sadly the article is not correct.  It is not almost here, it is not imminent.  Could be another few years away even.  Central bankers will stretch out this gruesome act for as long as possible.

Mon, 03/04/2013 - 14:03 | 3298282 chumbawamba
chumbawamba's picture

"Our economy is like a giant sand castle that has been built on a foundation of debt and toilet paper currency"

That analogy is as tenuous as what it tries to describe.

I am Chumbawamba.

Mon, 03/04/2013 - 14:09 | 3298294 THX 1178
THX 1178's picture

The economy is like a building that was built with sub-par rebar in a part of town known for high crime and sinkholes. It is difficult to sleep in this part of town because people be chattin' loudly outside your windows in the alleyway and cats be yowlin like crazy an shit. The landlord is a surly asshole who says things like "oh yeah?" and leaves yo' EXTREMELY LEAKY PLUMBING FIXTURES still slighlty leaking after he "fixes" them. The economy is like that.

Mon, 03/04/2013 - 14:15 | 3298315 NidStyles
NidStyles's picture

What is collapsing is the artificial paper based economy. the real one is working just fine, just has some dust on it from people not having used it in a few decades.

Mon, 03/04/2013 - 14:25 | 3298338 Paul Bogdanich
Paul Bogdanich's picture

"What is collapsing is the artificial paper based economy. the real one is working just fine"

 

Which was my orignal point  You said it better than I did though. 

Mon, 03/04/2013 - 14:28 | 3298348 francis_sawyer
francis_sawyer's picture

As you stumble along... Jus take care to keep the 'evil Episcopalians' off your jock...

Mon, 03/04/2013 - 15:59 | 3298640 12ToothAssassin
12ToothAssassin's picture

Thanks for not pimping your blog or subscription news letter!

Mon, 03/04/2013 - 17:52 | 3299046 BTFDemocracy
BTFDemocracy's picture

Your account balance is zero. You are an unfit mother. Your children will be placed in the custody of Carl's Jr.

Would you like some extra big ass fries? Carls Jr. Fuck you. I'm eating.

 

Wed, 03/06/2013 - 15:29 | 3305690 12ToothAssassin
12ToothAssassin's picture

GO AWAY! BAITIN'

Mon, 03/04/2013 - 14:43 | 3298393 SeattleBruce
SeattleBruce's picture

"the real one is working just fine"

That may have also been the case to some large degree in the US in 1931, and in Germany in 1923, but the collapse of the paper economy did impact those real economies in major ways, and dictated some very real life changes for most people.  Things can't just collapse without there being some very real, difficult impacts and adjustments.  We'll see how long it takes for it to kind of get back to normal, but that interim is going to be a bear.  Prepare accordingly.

Mon, 03/04/2013 - 14:30 | 3298359 Tango in the Blight
Tango in the Blight's picture

More time to stack up the metals.

Mon, 03/04/2013 - 15:35 | 3298563 mind_imminst
mind_imminst's picture

redpill is spot on here. Stocks have not experienced a blow off top yet. We have not gone full-Zimbabwe yet. The FED will keep printing (2x, 3x, 4x, whatever it takes), the real economy and real wealth will continue to deteriorate, but people in the developed world still have food, drugs, and entertainment, so no madmax-style collapse or revolution just yet.

Mon, 03/04/2013 - 18:54 | 3298821 TheGardener
TheGardener's picture

One to sixteen points preferably in ascending order is too much school assignment style to me, I usually skip all guest posts labeled as such. Assign a number to your points
and you are pointless . No structure, no style.

20 reasons for , 21 reasons against, 42 reasons for seasoned
subscribers : silly format : I have so so many arguments in my favour don`t you dare to argue...

Mon, 03/04/2013 - 13:34 | 3298180 kralizec
kralizec's picture

Well gosh, whatever could they be thinking of?

/

Mon, 03/04/2013 - 14:12 | 3298298 prains
prains's picture

15) evil bankster oligarchs to the world; "IT puts the lotion on its skin"
Crying poor of the world "noooooooooooo please no"

Evil banksters "IT puts the FUCKING lotion ON ITS SKIN"

Mon, 03/04/2013 - 13:43 | 3298203 Never One Roach
Never One Roach's picture

I'm going to take off my 'Mood Ring" from now on before I read the ZH articles. Those colors don't look normal.

Mon, 03/04/2013 - 13:15 | 3298119 Fredo Corleone
Fredo Corleone's picture

"Are there no prisons?" asked Scrooge.

"Plenty of prisons," said the gentleman, laying down the pen again.

"And the Union workhouses?"  demanded Scrooge.  "Are they still in operation?"

"They are.  Still," returned the gentleman, "I wish I could say they were not."

"The Treadmill and the Poor Law are in full vigour, then?"  said Scrooge.

"Both very busy, sir."

"Oh!  I was afraid, from what you said at first, that something had occurred to stop them in their useful course," said Scrooge.  "I'm very glad to hear it."

Mon, 03/04/2013 - 12:34 | 3297969 Blythes Master
Blythes Master's picture

"Go away, I'm batin'"

Mon, 03/04/2013 - 13:39 | 3298189 IdiocracyIsAlre...
IdiocracyIsAlreadyHere's picture

Not too long until we start watering crops with Brawndo as a means of "job creation"

Mon, 03/04/2013 - 19:47 | 3299312 monkeyboy
monkeyboy's picture

It's got what bankers crave, it's got electrolytes.

 

http://www.youtube.com/watch?v=e1fKzw05Q5A

 

I'm pretty sure bankers grow outta toilets...

 

 

Mon, 03/04/2013 - 12:54 | 3298050 Spastica Rex
Spastica Rex's picture

Seriously? Walmart shoppers out in the town square being beaten with camel crops?

They'll stay home, I think.

Mon, 03/04/2013 - 14:01 | 3298270 SamAdams
SamAdams's picture

as much as "i loik moenay", I beg to differ regarding our future.  the future will resemble the past.  if you research Greek history, you will find that the aristocracy ruled over the serfs and used the spartans to enforce their rule.  that is where this is heading, slowly, but surely...

Mon, 03/04/2013 - 16:52 | 3298818 tenpanhandle
tenpanhandle's picture

but how will the Spartans get over here?

Mon, 03/04/2013 - 14:06 | 3298286 chumbawamba
chumbawamba's picture

Incorrect.  Idiocracy is a documentary of contemporary America.  The bottom has already been reached.  We are now excavating the bottom to see how much lower it can go.  Researchers expect a breakthrough any day now.

I am Chumbawamba.

Mon, 03/04/2013 - 18:24 | 3299105 prains
prains's picture

+100

Mon, 03/04/2013 - 17:01 | 3298838 Not Too Important
Not Too Important's picture

Actually, once the Fukushima radiation starts culling the herd, our future will look like 'The Road', only with more radiation, leading to 'On The Beach'.

That is our future.

Tue, 03/05/2013 - 07:17 | 3300250 matrix2012
matrix2012's picture

Idiocracy (2006)

The film tells the story of two ordinary people who are taken into a top-secret military hibernation experiment which goes awry, and awaken 500 years in the future.

 They discover that the world has degenerated into a dystopia where advertising, commercialism, and cultural anti-intellectualism run rampant and dysgenic pressure has resulted in a uniformly stupid human society devoid of intellectual curiosity, social responsibility and coherent notions of justice and human rights.

But rather, this society emphasized anti-intellectualism perspectives and an emphasis on popularity, sexual attraction and hedonism. See it here

AVI, DVD5, 720x400, Language: English[default] Spanish French 

Optional subtitles : 
English, French, Spanish, Portuguese, Brazilian, Russian, Chinese, Dutch, Finnish, Swedish, Danish, Arabic, German, Hungarian, Hebrew, Polish, Romanian, Norwegian, Czech, Greek, Turkish, Serbian, Croatian, Bulgarian, Korean, Slovak, Estonian, Lithuanian.
To use a subtitle : just copy and paste it in the same archive as the movie

 

Mon, 03/04/2013 - 12:28 | 3297944 Dr Paul Krugman
Dr Paul Krugman's picture

Oil's price is transitory, and here is why - Peak Oil Doomers are Wrong: http://www.cnn.com/2013/03/04/opinion/frum-peak-oil/

Mon, 03/04/2013 - 12:34 | 3297967 HD
HD's picture

Erections are also transitory but they'll still fuck you...

Mon, 03/04/2013 - 14:36 | 3298371 Rogue Trooper
Rogue Trooper's picture

I wonder if Dr. Paul Krugman and Maxine Walters are an 'item'?  They seem to be on the same intellectual level. However, Maxines math is a little better....

Mon, 03/04/2013 - 12:38 | 3297987 BoNeSxxx
BoNeSxxx's picture

I see CNN in the link.

Therefore, I don't click.

Simple as that.

Mon, 03/04/2013 - 12:44 | 3298009 CPL
CPL's picture

CNN, hardly a reputable source of anything anymore.  Well, unless I need to catch up on what Bieber was doing last weekend even then, most people that are interested don't go to CNN anymore.

 

How's things Krugman?  You out of the Market yet?

Mon, 03/04/2013 - 12:51 | 3298031 caimen garou
caimen garou's picture

go preach to the n koreans with d rodman pog!

Mon, 03/04/2013 - 13:09 | 3298090 Kirk2NCC1701
Kirk2NCC1701's picture

PK, not to be nasty or anything, but talk to us when you get a real degree in Natural Sciences or Engineering.  An 'Oscar' from the Swedish CB (Sveriges Riksbank) does not count in real life, where real things are made and real services provided. 

And lest you get too huffy & puffy about your CB world of complex numbers (with some real but mostly imaginary components), remember that the ONLY difference between a counterfeit money operation and the fiat-Fed is that only one of them is backed by the US Army.  Were it not so, they'd (a) have competition from banks offering real money, or (b) be put out of business.

Einstein, on being asked the greatest invention in the 20th century: "Compound interest!"  Indeed, where else, outside the laws of God or Nature can you make something out of nothing, and where paper "earns" (!?) begets paper. 

Stick to (selling) your Blue pills, and I'll stick to my Red pills.

 

Mon, 03/04/2013 - 13:19 | 3298134 knukles
knukles's picture

Go share a cuppa cold coffee with Maureen Dowd.  She'll listen to your rubbish and tell you she cares.

Mon, 03/04/2013 - 14:39 | 3298379 Meat Hammer
Meat Hammer's picture

Stop giving yourself up-arrows, Krug"man".

Mon, 03/04/2013 - 17:35 | 3298994 nightshiftsucks
nightshiftsucks's picture

Hey fuck face,how much does it cost to get that oil out of the ground ? Of course some ass whipe who uses CNN opinion has shit for brains anyway.

Mon, 03/04/2013 - 12:39 | 3297971 Cursive
Cursive's picture

@Paul Bogdanich

What are you smoking?  No one suggesting an economic collapse is saying that the land won't still be here.  You simplify what was a major social upheaval in the USSR as a no big deal. Europe was better after the Black Plague? Living in the South was better after the War Between the States?  Europe was better after WWI?  The Gulf of Tonkin Resolution "saved" Vietnam?  Speaking for myself, I'd rather not go though another Red Revolution a la 1917ish Russia  or a geopolitcal breakup a la 1990ish USSR.  Lots of people die and there is heavy misery.

Mon, 03/04/2013 - 13:15 | 3298118 mercenaryomics
mercenaryomics's picture

But wait a minute, don't forget that broken windows are always great for economic growth... 

Mon, 03/04/2013 - 13:34 | 3298177 Caviar Emptor
Caviar Emptor's picture

It's all in the details when things go South. Some make it, some don't. Things change in unpredictable ways. Easy to gloss over details through the prism of history

Mon, 03/04/2013 - 14:39 | 3298381 Rogue Trooper
Rogue Trooper's picture

+1,000 add 'Balkanisation' to the mix this time round.

Mon, 03/04/2013 - 12:52 | 3298033 Crazed Smoker
Crazed Smoker's picture

Evidence certainly is building that an unsustainable build of financial pressure will lead to some kind of collapse or financial reset.  But I have also been thinking as you are, that the US has all of the ingredients of future relative prosperity regardless - energy renesaiance, bread basket of world, technology and educated workforce.  

Mon, 03/04/2013 - 13:00 | 3298071 Mountainview
Mountainview's picture

Every crisis is papered over until, like in Italy a real clown is voted in... Viva Grillo!!!

Mon, 03/04/2013 - 13:11 | 3298102 Wertew
Wertew's picture

lol indeed!

Mon, 03/04/2013 - 16:31 | 3298751 Dugald
Dugald's picture

So, your'e saying that Obama is not???????

Mon, 03/04/2013 - 17:02 | 3298846 Not Too Important
Not Too Important's picture

Not with everything radiated. Fewer sick workers for energy/resource extraction, lethal food, air and water, and a dying workforce that isn't educated enough for technology, anyway.

Mon, 03/04/2013 - 12:58 | 3298061 zorba THE GREEK
zorba THE GREEK's picture

Not all the economy is slowing down.

My neighborhood gun store is so busy they had to put on more staff.

 

Mon, 03/04/2013 - 14:27 | 3298347 Blano
Blano's picture

I blew off a gun show this weekend because I would have had to stand in line for an hour on a sunny day to get in.

Mon, 03/04/2013 - 14:43 | 3298394 jerry_theking_lawler
jerry_theking_lawler's picture

I really hate it for these people. They 'saw' the light too late and now prices are inflated. You need to have taken care of this years ago (like me). Would I be considered a 'prepper'...??

Now, these same idiots will be the ones in line after the .gov announces restricted purchases of gold/silver....

Mon, 03/04/2013 - 17:35 | 3298999 nightshiftsucks
nightshiftsucks's picture

They still have guns ? All the stores in Ca are sold out.

Mon, 03/04/2013 - 13:20 | 3298135 anonnn
anonnn's picture

...  The U.S. has plenty of aridable land, water, population and industry

You have coined a useful word. Perhaps a most workable description of the scene.

Mon, 03/04/2013 - 13:24 | 3298138 OneTinSoldier66
OneTinSoldier66's picture

"For profit campaigns, hospitals, electric utilites, prisons and so on are a bust.  The corruption becomes overwhelming much too quickly."

 

I don't know much about electric utilities. But imo, you left out a very important word when it comes to those "for profit" endeavours that you list.

 

They are "for government profit".

 

Campaign Industrial Complex - for government, obviously

Hospitals - with Obamacare, the Medical Industrial Complex is now complete (cut to star wars scene)

Prisons - the Prison Industrial Complex has been around quite a while now

Why did you leave the MIC(military industrial complex) and Banksterism(Wall Street Industrial Complex) out? Only so much time and so many government industrial complexes to cover?

 

Regards

Mon, 03/04/2013 - 13:47 | 3298215 IdiocracyIsAlre...
IdiocracyIsAlreadyHere's picture

Actually they are for both government profit and the personal profit of politically connected "friends".  That is what is so ridiculous about the left/right faux dichotomy "Corporations are Evil"/"Government is Evil" - they are mostly one and the same.  And they both need to be ended in their current form.

Mon, 03/04/2013 - 17:13 | 3298905 Cadavre
Cadavre's picture

They are "for government profit".

Does that not also fall within the purview  of "treason", "corruption", "bribery".

Lest we forget, We the People are the government - the white shoe dandies' "owned" k-street kiddie brothel patrons, we confuse as "government", are our employees - national security = job security = an eventual heel hung kiddie fondler on the trees lining the national mall.

Was noodling this currency war cage rage the MSM been bleating like an ass fucked 3 legged goat. It's not a currency war - that's what the white shoe pomposities wish the commons to believe. Then, they can say the reason everything is beyond the notes in our purse is cause "we're fighting a currency war" (along  with drug wars and blood wars and word wars blah blah blah).

It is a collusion by the Global War Usury Cartel to suck the last the drop of disposable value, like a some sick vampirish Brit milah, from the commons. Where is that value being sucked to? To the vaults of the of the Global War Usury.

The cold war war not about preventing commies screwing fat bleach blond american wives while hubby was out capitalizing for patriotism. The cold war was an attempted hostile takeover by the Global War Usury's kiddie fondlers to force the non aligned banking systems, aka, the commies, to either accept membership into the Global Usury's network of alchemy - the alchemy that converts death to profits.

Now that China has the go ahead to establish banks in the US and, also, better access to DoT and the FED than WallMart Street we can pretty much assume who "really" won the cold war (hint: it was not the west).

Mon, 03/04/2013 - 13:34 | 3298178 TrumpXVI
TrumpXVI's picture

After the Soviet Union collapsed a ton of people died.  The take down of the soviet system for health care had dire consequences, sure, not EVERYONE died, but mortality spiked severely.  They died quietly.  What is one supposed to do when one is old or sick or both; launch an armed revolution?

Mon, 03/04/2013 - 13:58 | 3298264 StychoKiller
StychoKiller's picture

Jeffrey Dahmer was well-fed...

Just sayin'

Mon, 03/04/2013 - 14:13 | 3298308 CH1
CH1's picture

After the Soviet Union collapsed a ton of people died.

You have a source on that Trump?

Mon, 03/04/2013 - 16:02 | 3298655 Hulk
Hulk's picture

A ton of people works out to be around 10 in number, so that ain't so bad !!!

Mon, 03/04/2013 - 16:04 | 3298659 CH1
CH1's picture

Four down arrows, just for asking for a source.

I really wanted to know.

Mon, 03/04/2013 - 16:38 | 3298773 SAT 800
SAT 800's picture

You deserve fourteen down arrows for being stupid enough to lack the mental capacity to understand that in complete systemic collapse; thousands of people are going to die. And did die. Try reading a book,, sometime; it won't  be painful; and it can be very educational.

Mon, 03/04/2013 - 17:06 | 3298854 Not Too Important
Not Too Important's picture

Learn about 'Chernobyl AIDS'. Then contemplate the oncoming global wave of 'Fukushima AIDS'. With a 100% exposure rate.

http://home.comcast.net/~glenncheney/Chernobyl.htm

Mon, 03/04/2013 - 18:34 | 3299117 CH1
CH1's picture

You deserve fourteen down arrows for being stupid enough to lack the mental capacity to understand

Fuck off, you arrogant troll. I wanted specifics.

I guess getting an 800 SAT puts you above such things. You're not Chucky Shumer, are you?

Mon, 03/04/2013 - 16:10 | 3298681 TrumpXVI
TrumpXVI's picture

Yes, Dimitri Orlov, a former engineer.  He was there and blogs frequently on the subject of "collapse".

Mon, 03/04/2013 - 18:33 | 3299121 CH1
CH1's picture

Appreciated, thanks.

Mon, 03/04/2013 - 16:02 | 3298649 Uber Vandal
Uber Vandal's picture

Here is a good first hand account of what the Soviey Union collapse was like.

http://jcharper.net/index.php?option=com_content&view=article&id=171:uss...

 

Mon, 03/04/2013 - 16:05 | 3298664 CH1
CH1's picture

Thank you.

Mon, 03/04/2013 - 16:06 | 3298668 ChanceIs
ChanceIs's picture

That would be a nice, "passive" way to rid oneself of some pesky liabilities in the form of old people, wouldn't it?  Ooooooops, ran out of some penecillin at a clinic.  Ooooooops, the power went out in the dialysis wing.  Who could have known?  It is so much less conspicuous than having the "death panels" where one applies for....say..a quadruple bypass at age 80 and is then denied - by a political appointee.

One doesn't hear much about the mortality spike post Soviet Union.  It was large.  One prominent figure (Putin?) was widely criticized for broadcast bungling which bordered on malign neglect.  (Factoid: Herbert Hoover was instrumental in attenuating a Russian famine in the early 1920s - which was probably engineered by Stalin.)  At the bottom we see that alcohol consumption in the FSU spiked post collapse.  Another way to get the liabilities to go away - have them drink themselves to death.  Now if Makers Mark keeps watering things down, that approach would be too expensive.  Hey!!!!  Pass me a "Victory Gin," or would that be a "Bernanke Gin?"

War is Peace,

Ignorance is Strength

Freedom is Slavery

Seriously.  That story about Homeland Security buying all of those "urban assault vehicles" has me quite upset.  Did you see the gun ports in the sides!?!?  And some billion rounds of ammo.  Is that part of the stimulation package? 

______

There is now compelling evidence that alcohol has been a major factor in recent widespread changes in mortality in Russia and in other countries of the former Soviet Union. In 1985, Mikhail Gorbachev, the newly appointed General Secretary of the Communist Party of the Soviet Union, instituted a large-scale anti-alcohol campaign. Within a few years, as the Soviet Union was collapsing, the campaign faltered and eventually gave way to a rapid rise in consumption, fuelled by widespread illicit production, on a massive scale. These changes were accompanied by large fluctuations in mortality. Between 1985 and 1986, male life expectancy at birth increased by 2 years and between 1992 and 1993 it fell by 3 years. The change in life expectancy was due, almost entirely, to differences in mortality among the young and middle aged (Leon et al., 1997). Changes on this scale are unprecedented anywhere in the world in peacetime (Ryan, 1995).

http://alcalc.oxfordjournals.org/content/34/6/824.full

 

Mon, 03/04/2013 - 14:12 | 3298304 CH1
CH1's picture

The U.S. has plenty of aridable land, water, population...

All true, but they also have a political system that is as rapacious as any, but worshiped as divine. That's a BAD combination.

At least in "third world" places they know the state is a theiving whore. Americans still think their killer whore is a saint.

Mon, 03/04/2013 - 14:47 | 3298408 SeattleBruce
SeattleBruce's picture

"Russia collapsed in 1990."

You really can't compare the Russian collapse with how the US financial, USD collapse will impact the world.  Total reset for the entire world.  You can't even start to say that about Russia.  But, your points about land (I think you meant 'arable'), water, in the US have validity.  The US political system must also reset, and that could also lead to a super long adjustment period, and perhaps violence/war while that's worked out.

Mon, 03/04/2013 - 16:18 | 3298702 SAT 800
SAT 800's picture

Do you have any idea at  all what it was like to try to stay alive and eat there during those "mere" 20 years? Did you know that when the graduating class of girls at Moscow Central High School was pollied as to what they thought their best employment possibilities were; a majority of them said they hope to become prostitutes? This is an instiutuion whose graduates are in all ways equal or superior to American State College graduates. And THEY RECOVERED INTO A FUNCTIONING WORLD FINANCIAL SYSTEM THAT COULD BUY THEIR OIL AND NATURAL GAS.

Mon, 03/04/2013 - 16:45 | 3298795 steve from virginia
steve from virginia's picture

 

@Bogdanich:

 

"(ex-Soviet Russia's) inate landmass and population and insudtrial base has them back stronger than ever a mere 20 years later.  The U.S. has plenty of aridable land, water, population and industry and the inate motion of the society wil carry it forward ..."

 

@Nidstyles:

 

"What is collapsing is the artificial paper based economy. the real one is working just fine, just has some dust on it ..."

 

The great myth of our time, like the earlier myths of Atlantis or the El Dorado ... ours is of the productive 'real economy', the virtuous private sector of factories and resource waste held down by evil bankers (by so-called 'progressives') or by evil governments (by self-named Austrians). This is a fairy tale, the 'real' economy is a wasteful bit of theater; It does not pay its own way, if it could it would have already! There would be no debt and certainly no crisis!

 

The industrial economies of the world are propped up with trillions in dollar-debt, they cannot exist without it. After decades of debt subsidy, there is too much debt to be serviced. Debt has worked only too well, we cannot afford to repay and machines cannot do so.

 

Nobody will escape the grip of our crisis until the truth is acknowledged and we start subsidizing conservation rather than waste.

Mon, 03/04/2013 - 12:19 | 3297896 Doña K
Doña K's picture

Combine these 12 points with depletion of vital resources, like water, oil and many others, throw in the growing world population in the mix and you have a chaotic toxic cocktail signaling that dark ages are around the corner.

 

Mon, 03/04/2013 - 13:36 | 3298159 anonnn
anonnn's picture

And an Injustice System that has stabilized at a bedrock level.

Looking for the "black swan"? Entropy has delivered it Injustice/unfairness is the natural course of neglect.

Mon, 03/04/2013 - 14:19 | 3298326 nofluer
nofluer's picture

Bullfrogs. We do not have depletion. We have misallocation to a degree... but even with that the USA is still a land of plenty of surpluses.

Mon, 03/04/2013 - 14:51 | 3298423 SeattleBruce
SeattleBruce's picture

"We have misallocation to a degree..."

Holy Tamole - I think you may have misunderstimated things a bit...

Mon, 03/04/2013 - 16:08 | 3298673 chubbyjjfong
chubbyjjfong's picture

"but even with that the USA is still a land of plenty of surpluses."

 

But who will control those surpluses?  The FED will own just about everything - stocks, the commodities, oil, property, land and PM's.  They will buy people to make sure you obey.  The can will be kicked via QE until they own everything then we will crash, reset.  How much more is there to buy?  They are even propping up Europe to prolong this shitshow.  It will end when the FED wants it to end.

Mon, 03/04/2013 - 16:20 | 3298712 SAT 800
SAT 800's picture

Yes, we have a surplus of illegal immigrants, a surplus of sub-normal mental function minorities, and a surplus of Federal Government employees; with a lot of overlap.

Mon, 03/04/2013 - 14:27 | 3298349 Frank N. Beans
Frank N. Beans's picture

where are my meds??!!

Mon, 03/04/2013 - 23:31 | 3299862 NuckingFuts
NuckingFuts's picture

No shit.

Tue, 03/05/2013 - 05:19 | 3300187 Overflow-admin
Overflow-admin's picture

I like your analogy: there is no way to predict so complex things. The best would be to have reliable and real-time monitoring but guess what...

- The game is rigged
- HFT will frontrun you on that!

Mon, 03/04/2013 - 13:14 | 3298112 aerojet
aerojet's picture

It's funny that a blog called "the economic collapse blog" would avoid speculating about such matters.  It's hard to be objective when you set out to prove your theory directly intead of a null hypothesis.

We won't suffer total collapse, just grinding misery due to hyperinflation and massive unemployment.  The fat cats won't even notice until their dwellings are literally burning down around them from them mob.  That's clearly why DHS is arming up to the next level (one level under regular military).

Mon, 03/04/2013 - 14:54 | 3298436 SeattleBruce
SeattleBruce's picture

"We won't suffer total collapse" and then you say:

"just grinding misery due to hyperinflation and massive unemployment.  The fat cats won't even notice until their dwellings are literally burning down around them from them mob.  That's clearly why DHS is arming up to the next level (one level under regular military)."

Hmmm?  You mean when the mobs are coming to get the 'fat cats' that's not total collapse?  Sounds like the French Revolution to me...what part of that is not 'total?'

Mon, 03/04/2013 - 12:02 | 3297835 kliguy38
kliguy38's picture

try long Alpo

Mon, 03/04/2013 - 13:37 | 3298186 Never One Roach
Never One Roach's picture

My Grandpa loves his Alpo but he's now afraid there might be horsemeat in it?!

Mon, 03/04/2013 - 12:11 | 3297872 DosZap
DosZap's picture

They know it's coming, add this one to the pile.Conspiracy Theorists?, BS.

Now This?.

http://www.thegatewaypundit.com/2013/03/obama-dhs-purchases-2700-light-a...

Why?, we have no illegals anymore, so how will big SIS explain the need for these?.

Watch the video,to serve a warrant............MY ASS.

As I predicted before we invaded Iraq, this was nothing but a training scenario for OUR steets.

IF you can get the HELL out, do it while you have a chance.

Glad I am long in years, I am sick to my stomach to have lived long enough to be a witness to this coming destruction.

Mon, 03/04/2013 - 12:23 | 3297919 Doña K
Doña K's picture

Some may say however, that these vehicles may protect us against the 47% of takers once the gravy train comes to the terminal.

Time will tell.

Mon, 03/04/2013 - 12:51 | 3298027 FeralSerf
FeralSerf's picture

They're the "All New and Improved Chevrolet Surburbans" specially equipped for the needs of our nation's alphabet soup agencies.  Also available in basic black.

Mon, 03/04/2013 - 14:48 | 3298410 Meat Hammer
Meat Hammer's picture

I have given this much thought, Dona, and I tend to agree with you.  The people rioting in the streets will be the ones whose ticket on the gravy-train has expired.  Sensible people will hunker down and/or look to their community, friends, and family for support.  

Productive members of society look to each other in times of adversity.  Parasites burn down each other's neighborhoods. Every time a DHS thug shoots an EBT cardholder, there's on less mouth to feed.  When the SEIU purple people eater gets blown away, there's one less pension to pay.  

 

Mon, 03/04/2013 - 15:07 | 3298459 BoNeSxxx
BoNeSxxx's picture

+1 as I tend to agree.

I think the current elected class will let bedlam ensue for a period of time which will adversely impact the EBT crowd.

If for no other reason, it will be to create enough fear that the middle class BEG for Uncle Sam to roll out the DHS budggies, curfews, and TSA goons.  It's what gives the ruling elite boners -- getting the masses to beg for that which is their own undoing.

Mon, 03/04/2013 - 15:15 | 3298501 FeralSerf
FeralSerf's picture

The Tories likely thought that way too when His Majestry King George's armed forces disposed of a rabble rouser colonial in 1775 New England.  Damn terrorists!

Mon, 03/04/2013 - 16:12 | 3298686 CH1
CH1's picture

Every time a DHS thug shoots an EBT cardholder, there's on less mouth to feed.  When the SEIU purple people eater gets blown away, there's one less pension to pay. 

Yes, our genius overlords will always look out for us good people and safeguard us from the scum.

Get over it. The overlords want your money and your obedience. They are here to plunder you.

Mon, 03/04/2013 - 17:28 | 3298963 css1971
css1971's picture

No they want your labour. They are the ones who created the money to get you to work for them. Your money is no use to them.

Mon, 03/04/2013 - 18:38 | 3299129 CH1
CH1's picture

Ah, you wish to fight over words!

Okay, "they want your production." Maybe that's better.

And no, it isn't all about "labor." They want what comes out of labor (at least what comes from intelligent labor), and that is production: corn, wheat, steel, airplanes, and so on. 

Mon, 03/04/2013 - 20:07 | 3299367 Bad Attitude
Bad Attitude's picture

They also want young pretty nubile women for their personal pleasure. Just look at all the politicians that get caught screwing interns, prostitutes, under-age girls, etc.

Mon, 03/04/2013 - 17:23 | 3298944 GhostfaceCracka
GhostfaceCracka's picture

Are you kidding? Those 47% takers are more useful to the ruling class than people like you and me; they can be counted on to reliably vote the correct way in exchange for gibsmedats. Sooner will those armored vehicles be deployed against US when we get angry that the government picks our pockets to give what we have left to the 47%.

Mon, 03/04/2013 - 16:09 | 3298678 CH1
CH1's picture

Some may say however...

Some will come up with ANY excuse to avoid unpleasant reality.

It's still bullshit.

Mon, 03/04/2013 - 16:18 | 3298700 ChanceIs
ChanceIs's picture

Follow the money.  When you have 2,700 urban assault vehicles with two 50 cals sticking out the sides, each spewing some 20 rounds per second, then you don't have to worry about reelections.  Too bad for the 47%.  But who has the UAVs on their side?  Are the rich still rich enough - post Obama tax increases - to be able to afford to buy protection?  Hmmmm.  The man from Chicago is used to thinking in those terms, isn't he?  A small riot in Oakland????  Probably terrorists.  Shoot first, ask questions later.  Besides, we have the NDAA behind us.  We don't need no stinkin Habeas Corpus.

I wrote earlier that thos UAVs scare the daylights out of me.  They do.  Really.  And I am a tough guy. 

Mon, 03/04/2013 - 18:39 | 3299136 CH1
CH1's picture

those UAVs scare the daylights out of me.  They do.  Really.  And I am a tough guy.

Ditto - the scariest things in a long time.

Mon, 03/04/2013 - 12:48 | 3298017 CPL
CPL's picture

We live in a JIT universe where Walmart can't stock chicken and the price keeps going up every week.

 

Think something like a mini tank and it's original quoted price on the RFP is going to do a lot? 

They might make ten before the place making them runs out of two things.

  • Purchasing power
  • Stuff to build with.

The first one being the most important.

Mon, 03/04/2013 - 16:30 | 3298749 ChanceIs
ChanceIs's picture

Ever see those news clips of the riots in Greece and Spain?  Nice governments have water cannons mounted on their riot suppression vehicles.  Nasty governments - the kind from Chicago where guns have been banned for decades - have 50 calibers in spades sticking out the sides.

Those UAVs scare the hell out of me.  Ruin my day just thinking about it.

I was walking through the "National Ellipse" just south of the "South Lawn" of the White House on my way to visit the National Academy of the Science last week.  I stepped off a sidewalk and went diagonally across an intersection - on a road which was blocked from traffic anyway.  A secret service agent barked at me commanding me to remain on the sidewalk.  No....'Please sir...its the rules...I know it's picky...but I  have to ask you to please stay on the sidewalk.'  Scares me.  Bad PR.  No need for that.  Stooooopid.  What is worse - malign intent on at the controls of government, or stupidity?  I would take the smart folks with bad intent any day.  Joseph Stalin was obviously stupid.

Mon, 03/04/2013 - 18:42 | 3299142 CH1
CH1's picture

No....'Please sir...its the rules...I know it's picky...but I  have to ask you to please stay on the sidewalk.'  Scares me.

There's an excellent article called The Rise of The Praetorian Class - worth your time.

Mon, 03/04/2013 - 21:21 | 3299558 ChanceIs
ChanceIs's picture

Thanks.  You didn't mention that it was from Doug Casey's organization.  He da man.

Mon, 03/04/2013 - 21:09 | 3299540 JohnnyBlaze
JohnnyBlaze's picture

Get out to where?

I don't like the idea of the Tanks but its also going to be a bit touch and go being the only fucking white guy in South America speaking my ebonics.  When the shit storm comes I assume your going to be proper fucked no matter where the fuck you are.

Mon, 03/04/2013 - 13:11 | 3298104 formadesika3
formadesika3's picture


- Doom bitchez

long booze, popcorn, and lawn chair.

 

That reminds me of a tense moment on my block a few years back. Schizo guy off his meds holed up in his parents' house with a deer rifle. As we were leaving, I noticed people setting out lawn chairs. Yes, I live in that kind of neighborhood.

Mon, 03/04/2013 - 13:26 | 3298156 eatthebanksters
eatthebanksters's picture

Nobody said Boom bitchez....so I did....maybe as in ka-boom?

 

Mon, 03/04/2013 - 12:07 | 3297841 Bananamerican
Bananamerican's picture

Hedges Digest...
"I am Joe's Derivative"
Drama In Real Life: PIIGS On Fire!
"10 Things About 11 or 12 Things You Must Read Before You Can Finish This Bowel Movement!"

Mon, 03/04/2013 - 18:56 | 3299170 CPL
CPL's picture

I don't remember eating corn...

Mon, 03/04/2013 - 12:19 | 3297901 Rusty Diggins
Rusty Diggins's picture

Surfs up!  Grab the dry suits.

Mon, 03/04/2013 - 12:30 | 3297956 rogeliokh
rogeliokh's picture

Bullish, Markets are up again. We going to have Rally even if US defaults tomorrow.

Default rally, bitchez.

Mon, 03/04/2013 - 12:35 | 3297975 Silver Garbage Man
Silver Garbage Man's picture

Each new wave polishes my shiny stuff.

Mon, 03/04/2013 - 12:58 | 3298064 dark_matter
dark_matter's picture

Isn't it kind of hard to polish after that unforutnate boating accident?

Mon, 03/04/2013 - 14:35 | 3298370 mick_richfield
mick_richfield's picture

 

Full fathoms five thy silver lies;
Round thy coins the coral grows;
Thy ASEs have gone below
And sea-nymphs got them all for free.

Mon, 03/04/2013 - 12:53 | 3298048 Go Tribe
Go Tribe's picture

Only 2 of the 12 are directly related to the U.S. (not including Detroit because it really doesn't matter at all) and one is about insiders not buying their own stock? Who gives a shit.

The rest are doomer headlines from small wastelands in Europe or the inevitable snapshot of Chinese real estate.

C'mon Tyler, you'll have to do better than this.

Mon, 03/04/2013 - 13:20 | 3298140 Never One Roach
Never One Roach's picture

But my RE agent says, "This time is different."

Mon, 03/04/2013 - 15:43 | 3298582 rotagen
rotagen's picture

Buddy agrees with Freddie King

 

http://www.youtube.com/watch?v=CJEnrgZF8Z0

Mon, 03/04/2013 - 17:00 | 3298834 Overfed
Overfed's picture

I don't know what it is, but everything I read or hear that comes off like good news also kinda sounds like bullshit.

Mon, 03/04/2013 - 11:58 | 3297820 venturen
venturen's picture

If Detroit can get a Financial Emergency Manager...can we get someone other than Bernanke and Obama!

Mon, 03/04/2013 - 12:07 | 3297859 Sudden Debt
Sudden Debt's picture

well... they're trying to hire this guy...

http://static0.volkskrant.nl/static/photo/2010/16/9/10/media_l_283705.jpg

but for the moment, he's not biting...

Mon, 03/04/2013 - 13:25 | 3298153 Mountainview
Mountainview's picture

Grillo can easily manage Detroit and Italy at a time...

Mon, 03/04/2013 - 11:59 | 3297823 elwu
elwu's picture

"At 127 per cent of gross domestic product (GDP), it is the highest in the euro zone after Greece"

Italians hold savings of about 175% of the debt, so they themselves should be on the front row to finance the party their country run since decades. 

Not bondholders from elsewhere.

Good luck then, Mr. Grillo, to renegotiate with your countrymen the Italian debt :)

Mon, 03/04/2013 - 12:00 | 3297827 venturen
venturen's picture

And what is the USA?

Mon, 03/04/2013 - 12:09 | 3297860 BadKiTTy
BadKiTTy's picture

Savings! What in..... Italian bonds! 

Mon, 03/04/2013 - 12:29 | 3297947 SpeakerFTD
SpeakerFTD's picture

Let make sure I understand.  Perhaps I have misinterpreted your English...

 

You are recommending that  because private citizens hold personal savings equivalent to 175% of GDP, they should be asked to pay first before any bondholders take a hit?

Mon, 03/04/2013 - 12:36 | 3297977 mick_richfield
mick_richfield's picture

That's the brilliant thing about conquering a country with fiat currency.

Everybody thinks it's still a democracy.  It still looks like a democracy. 

But it's not.  In a fiat currency nation, the political system will shortly be controlled by the people who create the fiat currency.  The 'citizens' can vote all they want, but they will never quite be able to control their country again.

Then their reptilian conquerors say  "You voted for thisss.  You mussst pay." 

If they can convince a large enough part of the population that it's their own damn fault, they have enslaved a nation without a shot fired.

Our enemies are not stupid.

Mon, 03/04/2013 - 13:41 | 3298193 OutLookingIn
OutLookingIn's picture

"Democracy has proved only that the best way to gain power over people is to assure the people that they are ruling themselves. Once they believe that, they make wonderfully submissive slaves."

- Joseph Sobran (1946-2010)

Mon, 03/04/2013 - 15:15 | 3298502 CH1
CH1's picture

Excellent quote!

Mon, 03/04/2013 - 11:59 | 3297824 venturen
venturen's picture

But Wall Street bonuses are up! And Private Equity is just rocking it! All Guaranteed by the US Public!

Mon, 03/04/2013 - 12:01 | 3297830 ihatecats
ihatecats's picture

So who's fault is it?Which politician,banker,cnbs talking head tin foil hatter?

Detroit woman writing on Child Support Agency Forms in the section for listing 'Father's Details,' or putting it another way...Who's your baby's Daddy?

 I am unsure as to the identity of the father of my baby, after all, like when you eats a can of beans you can't be sure  which one made you fart.

Mon, 03/04/2013 - 12:23 | 3297910 OutLookingIn
OutLookingIn's picture

Most occupants of the withered inner city are now parasites on society, with no personal responsibility, work ethic, education, moral founding, nor compassion. Loyalty and marriage are unknown concepts in this segment of the populace, who by happenstance populate the more desolate urban centers of metropolitan decay that infects most American cities, turning them into a dangerous wasteland. This group of miscreants is increasing and spreading out into the surrounding environs of suburbia, as large urban centers become more destitute and its inhabitants flee the incoming vermin who bring nothing but violent crime.

Mon, 03/04/2013 - 12:46 | 3298011 BoNeSxxx
BoNeSxxx's picture

Yes, but before you lay waste to the welfare state, consider that it is all that keeps this hoard of miscreants from kicking in your back door.

As much as I hate it, the welfare state (my taxes) is actually nothing but a state-run protection racket.

Mon, 03/04/2013 - 13:14 | 3298116 OutLookingIn
OutLookingIn's picture

How can the continued "welfare" handouts help? Short answer - THEY DON'T!

They reinforce and further entrench the 'gimme, gimme, gimme' mindset of those, whom it was supposed to help! Now the 2nd and 3rd generations of those "miscreants" are carrying on this same misguided, malinvestment mime.

If America were able to look in a mirror now, it would see an image of a sclerotic society, physically run down, strikingly ugly, and sordid in it's cultural progamming.  

Mon, 03/04/2013 - 12:05 | 3297836 Sudden Debt
Sudden Debt's picture

13. Hotdogs are actually HOT DOGS!

Mon, 03/04/2013 - 12:10 | 3297867 Dr. Richard Head
Dr. Richard Head's picture

Are they made of Egyptian locusts?

http://www.youtube.com/watch?v=DRWw8BtZIV4

Mon, 03/04/2013 - 13:56 | 3298258 dobermangang
Mon, 03/04/2013 - 12:15 | 3297886 wolfnipplechips
wolfnipplechips's picture

14. My car with 213k miles finally died this weekend. R.I.P.

Mon, 03/04/2013 - 12:26 | 3297929 Sudden Debt
Sudden Debt's picture

In episode 0817, All bundy's car passed the million mile marker.

So, may I assume you're not driving American? DO YOU?!! DO YOU?!!

I bet it was a Japanese car...

And Obama is trying so hard to revive the economy... while everybody keeps buying foreign...

no wonder the stock market keeps floating arround it's all time high...

Mon, 03/04/2013 - 17:06 | 3298853 Overfed
Overfed's picture

About 12 years ago, I finally admitted it to my self that, with a few exceptions, Americans cars are junkshit when compared to Japanese cars.

My ex GF's '88 Toyota finally gave up the ghost at 385K miles. She ran it out of oil.

Mon, 03/04/2013 - 12:26 | 3297933 Dr. Engali
Dr. Engali's picture

My condolences.

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