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Mark Spitznagel Cautions The Powers That Be:"The Reckoning Will Be Excruciating"

Tyler Durden's picture


Authored by Mark Spitznagel (author of The Dao of Capital), originally posted at Forbes,

In the midst of the epic dysfunction known as the 16-day government shutdown, we lost sight of the fundamental issue whose inescapable logic cuts across politics and party lines: We are feeding the rapacious appetites of our current selves (we want what we want now) at the dire and escalating cost to our future selves (whom, we assume, will somehow have the patience and resources to bear the burden). If that sounds unworkable and unsustainable, it is.

If government spending continues apace, feeding the monster known as the national debt will swallow the resources of our future selves, whether we personify that concept as ourselves at retirement or our children who will inherit an astronomical bill for our rash and compulsive spending.

We cannot expect Washington to solve these problems, because politicians are, by definition, creatures of the moment who want to please their current constituents who will re-elect them, rather than worrying about future constituents who cannot vote. It’s up to us to advocate for our future selves, both personal and progeny.

As simple and logical as this might sound, it is nigh onto impossible to do. We simply can’t help ourselves, because of our human nature and a behavioral concept—applicable to most everything in life, including my bailiwick of investing—called time inconsistency, or hyperbolic discounting. Simply stated, we discount the present now more than we expect to later—that is, we act one way now—impatient, demanding our appetites (food, drink, investment returns) be met at all costs—while deluding ourselves that, in the future, we’ll somehow be patient and better able to act rationally and take care of problems. But when later becomes now, we are just as impatient. The easiest and most universal example is dieting. We indulge now, telling ourselves we’ll diet tomorrow. The parallels to our bloated spending and ballooning debt are too obvious to mention.

The root of the problem goes to our human origins, when overlooking immediate needs was reckless and life-threatening. Consider the 1.8-million-year-old pre-human skull unveiled recently, with its massive jaw and big teeth, but small brain. I’m certainly no expert in human evolution, but it doesn’t take much to imagine this ancestral precursor was more concerned about eating now than preparing for the future.

Yet, humans did overcome that predilection, through making tools, domesticating animals, growing and storing grains, smelting ores and metals, and eventually amassing great entrepreneurial capital structures that required upfront investment and lost opportunity costs in the moment. This became possible because objectives switched, from satisfying immediate appetites to gaining an intermediate, positional advantage for the future. My shorthand phrase for that is becoming ever-more roundabout.

Our only hope to stop the battle between present and future selves is to adopt a more roundabout perspective, seeing time differently in an intertemporal dimension. When we are no longer hyper-focused on the moment, we can pursue proximal aims that look across slices of time. We avoid eating, drinking, acting, and spending as if there is no tomorrow, so that we can, indeed, have better, healthier, and more prosperous tomorrow.

Admittedly, grasping these concepts about our human nature and our perplexing time inconsistency requires a mental leap. By becoming more aware, though, we give ourselves a roadmap with which to navigate the minefields of our own human nature. With an intertemporal perspective we can avoid the mad scramble for 11th hour solutions, which in politics always equals crisis.

Since we cannot expect Washington and its stable of political animals to do the work, we must press for it ourselves, by sending the message to Capitol Hill: Taking on ever bigger amounts of debt is mathematically unsustainable. Using the Federal Reserve and its zero-interest-rate policy to kick the proverbial can down the road only postpones the pain, which intensifies with the passage of time. The reckoning will be excruciating.

When another shutdown looms in the months ahead, we have to keep in mind who the battle is really between: our present selves versus our future selves. We who can think, act, and vote now, must advocate for the currently disenfranchised who will pay the bill.


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Tue, 11/05/2013 - 21:57 | 4125235 lordbyroniv
lordbyroniv's picture

MOAR !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!111

Tue, 11/05/2013 - 22:02 | 4125253 DoChenRollingBearing
DoChenRollingBearing's picture

Moar spare parts...

Tue, 11/05/2013 - 22:17 | 4125323 CH1
CH1's picture

objectives switched, from satisfying immediate appetites to gaining an intermediate, positional advantage for the future.

That was before politics became the most important thing in the universe.

Tue, 11/05/2013 - 22:20 | 4125332 DoChenRollingBearing
DoChenRollingBearing's picture

Hey, CH1, I suspect it's always been that way...

Wed, 11/06/2013 - 06:18 | 4126064 Peter Pan
Peter Pan's picture

Things don't add up too well for the future. So either our future is cut short or our expectations are cut short. Perhaps both. I also would not count on technology, science and medicine bridging the gap between means and ends.

Wed, 11/06/2013 - 06:19 | 4126065 Truthseeker2
Truthseeker2's picture


Excrutiating because --->


"Are The Markets HOPELESSLY Addicted to Deception?"



Wed, 11/06/2013 - 08:30 | 4126216 Ar-Pharazôn
Ar-Pharazôn's picture

10k years ago, i think you could easily go and beat the brain out of the politicians very easily. just slamming the mace til the work is done. very effective

Tue, 11/05/2013 - 22:44 | 4125427 Religion Explained
Religion Explained's picture


Not between our present and future selves. BETWEEN THE PRESENT TAKERS AND THE FUTURE MAKERS.

Wed, 11/06/2013 - 00:23 | 4125701 acetinker
acetinker's picture

Thank you.  And I don't see much promise for the future makers.  In fact, I don't see any makers, only takers.

Wed, 11/06/2013 - 02:56 | 4125932 ReactionToClose...
ReactionToClosedMinds's picture

and the crony capitalist sycophants sucking the blood out of the capital markets.  Clever manipulation only gets one so far eventually when the ediface comes tumbling down 

Tue, 11/05/2013 - 22:00 | 4125245 johnQpublic
johnQpublic's picture

whats with the "WE"?

like we have control over anything

try 'they'

Tue, 11/05/2013 - 22:47 | 4125341 macholatte
macholatte's picture


whats with the "WE"?


 Spitznagel is just another late bloomer, wannabe product of the "hey, look at me" media.  Is he actually actively recruiting people to do something? Is he taking any risk? Did he say anything at all that hasn't been hashed and re-hashed on ZH for 2 years already? Looks like he's just another billionare covering his own ass with a private life boats all his own while he watches the ice berg coming toward the ship.



Wed, 11/06/2013 - 01:51 | 4125831 HardAssets
HardAssets's picture

Well, we've had 98% of the value of our earnings and savings stolen over the last century through their private money printing inflation. They used that to buy off the politicians, bureaucrats, and judges and steal our republic. They then stole the pittance that was left in various 'taxes' at multiple levels.  Now after they steal our money, at essentially the muzzle of a gun, through social security and other taxes - they rename what was sold to us originally as 'saving for retirement' and 'help for our old age' to wicked 'entitlements'.

And this doesn't even include the trillions spent on 'defense' and other government programs which stole countless trillions more in various ways.

And now, there are those saying 'We' are greedy and want too much ? 

What a bunch of b.s.

There's a lot of stuff that 'we' don't want including Commie-'health care', multiple wars, wide open borders, good jobs off shored overseas, outrageous college tuition & fees, and a high tech police state.

'They' don't give a sh*t what We want.

Mainly because most of those making up the 'We' have been so brain washed that they don't know Up from Down.

As for the article . . . if you don't get right to the heart of things . . . the criminal central banking/big corp/big govt system of fascism . . . youre either ignorant or blowing smoke.  This guy ain't ignorant.

Wed, 11/06/2013 - 07:02 | 4126101 Wahooo
Wahooo's picture

Yup. TPTB will never experience excruciating reckoning.

Tue, 11/05/2013 - 23:42 | 4125566 CPL
CPL's picture

There is no them.  There is no We.  Just You.  How do they control you?

You have lost control of yourselves.  Without yourself, there was no past and will certainly never be a future for you.  The present is where you balance between the two.


Wed, 11/06/2013 - 00:29 | 4125721 acetinker
acetinker's picture

You?  There is only "us" CPL.  "We" are one organism, and we consistently fail to realize this.

Wed, 11/06/2013 - 12:46 | 4127249 CPL
CPL's picture

That's being unreasonable to expect people to behave like a flock of birds. 

We are a herd of cats, everyone generally goes in a direction that has something interesting to themselves.  So don't plan for the impossible, when you can plan for success by understanding what you are working with.  So what is the end goal?  With 7.2 billion people, there's roughly 7.2 billion goals.  Which one is right?  Depends on the week and who you are talking to.

So how do you get 'there'?  Where ever 'there' is because 'We' exist when you and another are in balance with each other and complimentary.   'We' leads to 'them' and 'us'.  'We' leads to blame games.  e.g. 'They' did that because 'we' did not.  To remove the blame game of 'them' and 'us' the collective 'we' build a process. 

Processes don't get angry.  Processes cost nothing but time to make.  They give back every time they are used repeatedly.  When they no longer work they can change as long as they match the task that needs to be done.  Or they can simply be disposed of when they aren't applicable.  The individual can still be an individual in a process, unfortunately when the process is removed the individual has to go find something else to do.

...Or be part of the conversation and contribute to building a new process.  It takes all sorts of people to build a process, from saints to dickheads.  Look at Linux, 15 years and the one thing that has kept it knitted together as a cohesive 'we' of technophiles is open community processes.   The Open Source standards are well described using active participation from artists to zookeepers, there is a lot of input from every where in every language.  While we sleep the processes to drive the Linux community are still running and it's all powered by people.

Each time a change is committed to the the process pool, the intention is to first test the change.  If it sticks, then leave it alone. 

If it doesn't, people bitch and then get together to look under the hood in a more forensic manner.  They find root cause OR the accidental secondary processes that form 'magically' because in a world of ideas, a lion and a hamster can breed then make a lionster (fierce animal that terrifies cabbages).  As a lionster it's a fairly humorous visual, but understanding that when an accidental process is created it has to be dealt with as if it were a designed process.

Example;  Workstation power management, biggest energy pit on the planet next to server power management. 

Everyone is designing process to match a process 'we' all know sort of works to meet industry guidelines requirements, but never provided any input to.  It is claimed as 'practical'.  But the power industry guidelines ask the wrong questions and are also the wrong people to ask the question of in the first place.  They are SELLING you the power.  The power industry's guidelines are self serving and anything offered in terms of 'savings' or 'wisdom' from them should be suspect to begin with.

They ask everyone else to solve their own problem by counting on people being motivated to turn off appliances instead of properly measuring the individual problems of the technology being used.  We live in a world that we've known this problem for 50 years.  That's a lot of time, in technology time that's forever.  The best solution is to make a bigger power supply instead of develop better usage of power. 

I have a couple of laptops, a POS Acer from a black friday sale and a used Apple notebook with matching specs (yeah, Apple is as cheap as Acer).  The batteries in both have been hammered down to 15% capacity.  If I run the laptops as shipped with Win7 or OSX, I can get between 40-60 minutes on the Acer and the Apple workstations on old beat up batteries.  If I wipe them to bare metal and install Linux and install an applet called Jupiter ( my battery life on both workstations goes up to around three hours.

Why?  Because the individual developer of the applet asked a different question.  "What do I need vs what I want for the application I'm using?" 

On my newish Dell workstation, I'm getting 14 hours with a 17 inch laptop screen with an i7 processor and a mid range video card on a single charge.  If I leave it on standby it runs as long as a blackberry (about a week if 5 minutes here and there all week).

Why?  Again the developer asked a different question.  He decided to tackle the vicious 'Lionster' process that was accidentally created with corporate/consumer workstations and power industry processes and make it work FOR the user.   All because he developed a process to be automatically handled to tame the beast of power management and increase it's efficiency by a measurable factor of 275 - 450% because he looked at usage by the people, not power production metrics from energy companies which are questionable on the best of days.

In the case of power management, the developer asked the secretary what she did before the Product manager and spun gold in 97k of code.  If used universally would save a LOT of building of unnecessary nuclear reactors, cut down coal emissions and further stretch the little remaining good diesel reserves for more practical purposes like maintenance and farming.  Instead of powering a dual core video card to watch a youtube video and IM a friend.

Ask the right question then the rest of it fits properly and returns the investment in under a month.

Tue, 11/05/2013 - 22:03 | 4125263 DoChenRollingBearing
DoChenRollingBearing's picture

Spitznagel is very much an optimist that we can do much.  We are now pretty much at the point where it's every family for itself.


Tue, 11/05/2013 - 22:15 | 4125312 Bay of Pigs
Bay of Pigs's picture

You mean this asshole is no good? Wow....who'd a thunk it? Gee, another one of those fuckers...

Tue, 11/05/2013 - 22:20 | 4125327 DoChenRollingBearing
DoChenRollingBearing's picture

The alert guy with the beard gets green...  We's just gold fishez....

Tue, 11/05/2013 - 22:32 | 4125377 Bay of Pigs
Bay of Pigs's picture

So tired of these guys who talk shit and do the same things.

Tue, 11/05/2013 - 22:43 | 4125372 prains
prains's picture

we have to keep in mind who the battle is really between:


SPITZ !! it's between us and billionaire Oligarchs......don't forget it !!!!


sure hope you can run 4 hours in the dark over rough terrain without shoes, that's THE best hedge you'll ever had made. Bel Aire ain't gonna mean shit in your life time and you know it.

Tue, 11/05/2013 - 22:05 | 4125273 gould's fisker
gould's fisker's picture

The reckoning "WILL BE" excruciating? Please give me a moment while extract this nine foot pole from my ass. Excuse me.

Tue, 11/05/2013 - 22:08 | 4125274 Moe Hamhead
Moe Hamhead's picture

So, basically, since the majority of us aren' t willing to voluntarily come forward and sacrifice our lifestyles for the sake of the common good, we are destined to ride this train to the end of the track and take our chances together.  We realize that it isn' t going to be pretty, but it's inevitable. So, we' ll solve the future's problems in the future; and live life the way we're used to until then. Is that the human nature we' re talking about ?

Tue, 11/05/2013 - 23:33 | 4125552 therevolutionwas
therevolutionwas's picture

somebody's human nature, not mine.

Wed, 11/06/2013 - 07:03 | 4126108 Wahooo
Wahooo's picture

Common good, eh? What the hell is that?

Wed, 11/06/2013 - 08:25 | 4126201 Singelguy
Singelguy's picture

Basically, the majority are not even aware that the train is going to crash so they are content to sit back and enjoy the ride. The ones who are aware of the coming crash, are slowly working their way to the back of the train so that they will suffer minimum injury when the crash finally occurs. Every man for himself! That is human nature!

Wed, 11/06/2013 - 10:44 | 4126696 newworldorder
newworldorder's picture

+ 1000

That is a very good summary of our current situation.

Tue, 11/05/2013 - 22:07 | 4125278 The Devil
The Devil's picture

Humans. What a joke.

Wed, 11/06/2013 - 03:28 | 4125950 Incubus
Incubus's picture

Right on, boss.

Tue, 11/05/2013 - 22:11 | 4125297 Dr. Engali
Dr. Engali's picture

It's too late for any of this shit. The answer will not come through the political process, and I'm sad to say that it won't happen by the iSheeple banding together to overthrow the oligarchs. The only solution is to let the system collapse, and rebuild from scratch. My suspicion is that no matter what the eventual outcome, future generations will make the same mistakes.

Tue, 11/05/2013 - 22:36 | 4125399 DOGGONE
DOGGONE's picture

We humans in our democracy elect/select leadershiT.

Wed, 11/06/2013 - 03:26 | 4125949 Escapeclaws
Escapeclaws's picture

If the system collapses you will have competing mafias running things. It will be a bloodbath. What we have now will seem like paradise. Be careful what you wish for. Recommend you read Dmitri Orlov's "The Five Stages of Collapse".

(And please don't counter that we are already run by the mafia. If you say that you are just another ignoramus who has never been up against it.)

Tue, 11/05/2013 - 22:15 | 4125313 erg
erg's picture

Send a message to Capitol Hill. Yah. rolls eyes

Tue, 11/05/2013 - 22:27 | 4125348 monad
monad's picture

Send smoke signals. Yah, ahaha rubs palms

Tue, 11/05/2013 - 22:14 | 4125316 0b1knob
0b1knob's picture

Our future selves.  The Simpsons got there first.

Tue, 11/05/2013 - 23:47 | 4125585 Freddie
Freddie's picture

Idiots who support TV and Hollywood support the oligarchs.  Keep up the good work.

Tue, 11/05/2013 - 23:59 | 4125625 Dr. Engali
Dr. Engali's picture

This from the man with the Chuck Norris avatar.

Wed, 11/06/2013 - 08:27 | 4126205 kralizec
kralizec's picture

Ohh, right square in the berries!

Tue, 11/05/2013 - 22:26 | 4125346 DOGGONE
DOGGONE's picture

To impress readers, show them THiS

Tue, 11/05/2013 - 22:27 | 4125352 CheapBastard
CheapBastard's picture

Don't bother me. I refuse to come out of the Basement!


[PS: Pls send the Dominoes Pizza down here when it arrives.]

Tue, 11/05/2013 - 22:26 | 4125356 A Lunatic
A Lunatic's picture

So the message is we can't expect Washington to fix this mess so be sure to vote. Got it.......

Tue, 11/05/2013 - 22:28 | 4125360 wisehiney
wisehiney's picture

When the financial system collapses and there is total chaos, someone will be sure to properly shut down all nuclear reactors to ensure human survival. 

Tue, 11/05/2013 - 22:40 | 4125409 johnQpublic
johnQpublic's picture

the nuclear industry is what convinces me that the powers that be know there isnt as much of a future waiting for us as most people hope

and comparing fuku to backround radiation, essentially denies the fact there was no backround radiation before all of the cold war nuclear bomb testing

Wed, 11/06/2013 - 04:38 | 4126006 Riprake
Riprake's picture

No background radiation before nuclear weapons? You're even dumber than your name implies, Prostitute-Using Everyman Cypher Sheeple boy. At least some of the "public" know that background radiation has existed for as long as the universe has. The biggest thermonuclear bomb in a four light-year radius is constantly going off in the sky over our heads every single day; you think nobody ever got a sunburn before the Manhattan Project?

Next thing we'll be hearing from you is how airliner contrails are a secret Jewish plot to murder us all by dousing us in flouride to sap our purity of essence, a "fact" which you "realized" during, shall we say, "the physical act of love" with one of those prostitutes. Well, a tinfoil hat probably won't help you against that (or against that raging case of drug-resistant herpes she gave you), but some of your equally stupid conspiracy theorists here will be happy to recommend that you use an atomizer to spray a vinegar solution into the atmosphere around your home to disperse the insidious and all-powerful Zionist World Order's mind-controlling chemicals.

(For the herpes? You're on your own, unless you've still got some money left from which to be parted, in which case I'm sure your fellow nutjobs here can can recommend a quack to sell you some colloidal silver, which in addition to curing any disease you have can whiten your rotting teeth, mow your lawn, power your whole house for a year per ounce, and purge the soil around your home of all Monsanto GMO products.)

Wed, 11/06/2013 - 08:35 | 4126224 Ar-Pharazôn
Ar-Pharazôn's picture

+100 just for the dr strangelove references! :D

Tue, 11/05/2013 - 22:33 | 4125380 ebworthen
ebworthen's picture

My future self said he doesn't want to be homeless and toothless, my present self said to him "Fuck you, I'm hungry and want some bourbon."

Tue, 11/05/2013 - 23:04 | 4125468 jon dough
jon dough's picture

I'm with you.

My younger self enjoyed life, as ig'nant as I wuz.

I am pretty sure my future self is just going to be a smart-ass and a know-it-all.

What little future self there is...

Edit: Scotch OK?

Tue, 11/05/2013 - 22:31 | 4125383 DOGGONE
DOGGONE's picture

We humans in our democracy elect/select leadershiT.

Tue, 11/05/2013 - 22:38 | 4125385 HardlyZero
HardlyZero's picture

The longer this goes on the more land and homes will be purchased by the government or entities, so even if you own your plot you will be surrounded by govt. property and utililites will be scattered or unavailable.

In the end we will have some sort of debtor's prison for all the debts we owe (public or matter).  We will serve our term 'in place' and just pay the taxes directly.

Then the Soylent Corporation will probably arise, a spin-off from GS or JPM.

So it will look something like Soylent Green or Matrix...but it won't be something to look forward to, if this all doesn't end differently, or evolve/devolve if it is 'gentle'.

Tue, 11/05/2013 - 22:42 | 4125416 johnQpublic
johnQpublic's picture

i'm thinking more along the lines of terminator

skynet bitchez

Tue, 11/05/2013 - 22:47 | 4125432 bnbdnb
bnbdnb's picture


Tue, 11/05/2013 - 23:07 | 4125480 luna_man
luna_man's picture



"The Reckoning Will Be Excruciating"...


The "CRIMINALS", Say, You Gonna Have To Prove It! 

Wed, 11/06/2013 - 08:29 | 4126210 kralizec
kralizec's picture

The proof will be inscribed and travelling into their brain pan at 2,000fps or more.

Tue, 11/05/2013 - 23:11 | 4125492 22winmag
22winmag's picture

When the shit gets really bad, privates will frag sergeants, then sergeants will frag lieutenants, then lieutenants will frag generals, then the generals will frag the coffee colored faggot at the top... and all of this backed by millions of armed veterans and civilians.


It's great to live in a republic waist deep in the most fearsome collection of small arms firepower the world has ever seen.

Wed, 11/06/2013 - 08:39 | 4126231 Ar-Pharazôn
Ar-Pharazôn's picture

keep dreaming. by this time you will be in your home, trying to protect your beloved ones and your stuff.

no way it will happen what you said

Tue, 11/05/2013 - 23:15 | 4125499 headless blogger
headless blogger's picture

Mark Spitznagel and people like him don't have any credibility because they leave out too much. What he's saying in this article is exactly what the PTB want. They want the masses to demand the government to quit spending....because they know Joe and Jane Schmoo don't have any knowledge of the the TRILLIONS created and spent on bailouts to the PTB's little derivative adventures and other bad investments (both sides of the Atlantic).

They have to cover up all the looting and theft, so they benefit when distractions keep the masses thinking "if only we cut back here or there....".

Bunch of rubbish...

Tue, 11/05/2013 - 23:17 | 4125506 Stuck on Zero
Stuck on Zero's picture

We could start by teaching history in the schools.  We could go to town hall meetings and ask our candidates what they know about the Magna Carta or the Edict of Nantes.


Tue, 11/05/2013 - 23:23 | 4125525 Yenbot
Yenbot's picture

As if they care.

Tue, 11/05/2013 - 23:21 | 4125514 Professorlocknload
Professorlocknload's picture

 But Maynard the Keynes said in the future we're all dead? That won't be any fun!

Tue, 11/05/2013 - 23:25 | 4125530 Yenbot
Yenbot's picture

But, you can count on it.

Tue, 11/05/2013 - 23:27 | 4125534 WTFUD
WTFUD's picture

" dieting " as an analogy for personal gratification as opposed to collusion and corruption with regard to the public purse. what a tosser apologist

Tue, 11/05/2013 - 23:33 | 4125557 TeddyBear
TeddyBear's picture




I want it now too.

Today I hit 50% up for year to date and sold most stocks, I am going to pay a lot of tax on DDD.


Charts just don't look right.


Had a great summer, Lived on a yacht in the TENN river. The 1% are doing fine( they call it millionares row, The boat slips). 65 feet but does rock some when a barge passes.

Next moves?

Buy gold in the 800s or over 2000 for 30 days.

Waiting to buy back in:











Just like I said last year, Buy the new 52 week high ETF. It was good the last few years and nothing has changed.

I hope you don't do what this guy says, Keep things the same. This is great.

 May all your investments stay above the 200 DMA :)


Tue, 11/05/2013 - 23:35 | 4125560 q99x2
q99x2's picture

Nah. Congress sold out to Wall Street again and they put the laws back the way they were before 2010. It'll work this time.

Wed, 11/06/2013 - 00:02 | 4125640 TORNasunder
TORNasunder's picture

Debt is a transfer of cost from the future for the benefit of today. Part of what is happening 'now' is that the bill(s) has come due from debt created in the past century. What is sobering is that these bills from the past pale in comparison to the amount of debt created in the last few years, especially since '00.

Somehow this has a time travel 'Back to the Future' feel, which frankly I hate time travel stories since they are such a cop out for writers. My point is thus. The Ponzi schemes (Federal Reserve, Social Security, Medicare/caid) created over the past century have run out of suckers... which means they must end. And the greatest Ponzi running right now is the Federal Reserve Note, which just happens to be the world's reserve currency. The cost of this transfer of wealth from the future is staggering, and thus so will be the inevitable crash.

Is it not ironic that in the midst of the mess created by past Ponzi schemes another huge one is being born... Obamacare? The proverbial straw that broke the camel's back?

Wed, 11/06/2013 - 02:11 | 4125884 The Heart
The Heart's picture

The lash back is growing in intensity every day. It is coming to the front doors of these evil politicians that work for the foreign banks, and not the American People. When everybody keeps seeing this kind of horrid lying, they just get sick. Imagine waking up one day and realizing you actually voted for this scoundrel that sees no problem with continuously and maliciously lying to the American People. If you had a neighbor like this, what would you do?

Wed, 11/06/2013 - 02:28 | 4125902 kurt
kurt's picture

Um, bullshit

Wed, 11/06/2013 - 02:55 | 4125927 dunce
dunce's picture

Reckoning, apocalypse, collapse, let me count the terms.

Wed, 11/06/2013 - 03:31 | 4125957 luckylongshot
luckylongshot's picture

Belgium recently went 550 days without a functioning government and the results were little short of astonishing. Not only did their economy enjoy the best period of growth in modern history but Belgium outperformed every economy in Europe during this period. Rather than looking at a gridlocked Government as a disaster maybe it should be reframed as being an improvement.

Wed, 11/06/2013 - 06:41 | 4126079 Quinvarius
Quinvarius's picture

As long as they are willing to accept depreciating currency, and they are more than ready, they can go on forever.  The mistake some "experts" make is to assume this only started in 2008.  It has been going on since the 80's at least.  And despite what you see on the tape, the people doing it do not care because they are the ones buying all the gold.  Paper and token currency is for the public.  This is a historical recurrence.

Wed, 11/06/2013 - 10:31 | 4126639 t0mmyBerg
t0mmyBerg's picture

His only problem with suggesting change can be accomplished is that it means either that powerful people will be able to convince the powers in washington ot do the right things or that a large enough part of the masses can be educated to demand that change through the ballot box.  Neither will happen.  The people elected Obama twice.  Reasonableness aint going to happen.  Virginia just elected an actual criminal to be governor.  Why?  Because the right are beholden to religious fanatics bent on the single issue of abortion, which while very ugly, is causing the right to lose election after election.  And as far as the masses being educated, please spare me.  Not even a third of adults can name the three branches of government or even know there are three branches of government or why or who they are.  Like the egyptians, our empire will wax and wane.  We are now in a waning period.  Thats just the way it is.

Wed, 11/06/2013 - 11:02 | 4126764 newworldorder
newworldorder's picture

Most major trading blocks have moved to a top down, Central banking managed economy. This consolidation will continue untill every country is on the same page.

From this point forward, there are only two possible outcomes.

1. Continued top down economic management based on the collective belief that all is OK.

2. Economic disruption of some kind (black swan,) which suspends this belief and exposes the naked nature of the man behind the curtain. Then, its every person for themselves. There is no timleline for this to happen. The powers that be, will do everything they can to prevent it.

Wed, 11/06/2013 - 11:34 | 4126921 1835jackson
1835jackson's picture

"The root of the problem goes to our human origins, when overlooking immediate needs was reckless and life-threatening. Consider the 1.8-million-year-old pre-human skull unveiled recently.."

Were you there Spitz? Did you know the man's name? This is horseshit. I cannot stand excusing our current human predicment by blaming our dumbass ancient ancestors. There are no ancient ancestors the bible makes it clear that man's nature is corrupted. We are in our sin lazy, selfish, greedy and power hungry. We have a spiritual problem! But of course the bible is a old wives tale right? The bible is more relevent today than ever. Of course I expect down arrows from the very people with this spiritual problem. If we love our brothers and sisters we would have a much better system than the joke we have today. 

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