This page has been archived and commenting is disabled.

20 Signs That The Global Economic Crisis Is Starting To Catch Fire

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

If you have been waiting for the "global economic crisis" to begin, just open up your eyes and look around.  I know that most Americans tend to ignore what happens in the rest of the world because they consider it to be "irrelevant" to their daily lives, but the truth is that the massive economic problems that are currently sweeping across Europe, Asia and South America are going to be affecting all of us here in the U.S. very soon.  Sadly, most of the big news organizations in this country seem to be more concerned about the fate of Justin Bieber's wax statue in Times Square than about the horrible financial nightmare that is gripping emerging markets all over the planet.  After a brief period of relative calm, we are beginning to see signs of global financial instability that are unlike anything that we have witnessed since the financial crisis of 2008.  As you will see below, the problems are not just isolated to a few countries.  This is truly a global phenomenon.

Over the past few years, the Federal Reserve and other global central banks have inflated an unprecedented financial bubble with their reckless money printing.  Much of this "hot money" poured into emerging markets all over the world.  But now that the Federal Reserve has begun "tapering" quantitative easing, investors are taking this as a sign that the party is ending.  Money is being pulled out of emerging markets all over the globe at a staggering pace and this is creating a tremendous amount of financial instability.  In addition, the economic problems that have been steadily growing over the past few years in established economies throughout Europe and Asia just continue to escalate.  The following are 20 signs that the global economic crisis is starting to catch fire...

#1 The unemployment rate in Greece has hit a brand new record high of 28 percent.

#2 The youth unemployment rate in Greece has hit a brand new record high of 64.1 percent.

#3 The percentage of bad loans in Italy is at an all-time record high.

#4 Italian industrial output declined again in December, and the Italian government is on the verge of collapse.

#5 The number of jobseekers in France has risen for 30 of the last 32 months, and at this point it has climbed to a new all-time record high.

#6 The total number of business failures in France in 2013 was even higher than in any year during the last financial crisis.

#7 It is being projected that housing prices in Spain will fall another 10 to 15 percent as their economic depression deepens.

#8 The economic and political turmoil in Turkey is spinning out of control.  The government has resorted to blasting protesters with pepper spray and water cannons in a desperate attempt to restore order.

#9 It is being estimated that the inflation rate in Argentina is now over 40 percent, and the peso is absolutely collapsing.

#10 Gangs of armed bandits are roaming the streets in Venezuela as the economic chaos in that troubled nation continues to escalate.

#11 China appears to be very serious about deleveraging.  The deflationary effects of this are going to be felt all over the planet. The following is an excerpt from Ambrose Evans-Pritchard's recent article entitled "World asleep as China tightens deflationary vice"...

China's Xi Jinping has cast the die. After weighing up the unappetising choice before him for a year, he has picked the lesser of two poisons.

The balance of evidence is that most powerful Chinese leader since Mao Zedong aims to prick China's $24 trillion credit bubble early in his 10-year term, rather than putting off the day of reckoning for yet another cycle.

This may be well-advised for China, but the rest of the world seems remarkably nonchalant over the implications.

#12 There was a significant debt default by a coal company in China last Friday...

A high-yield investment product backed by a loan to a debt-ridden coal company failed to repay investors when it matured last Friday, state media reported on Wednesday, in the latest sign of financial stress in China's shadow bank sector.

#13 Japan's Nikkei stock index has already fallen by 14 percent so far in 2014.  That is a massive decline in just a month and a half.

#14 Ukraine continues to fall apart financially...

The worsening political and economic circumstances in Ukraine has prompted the Fitch Ratings agency to downgrade Ukrainian debt from B to a pre–default level CCC. This is lower than Greece, and Fitch warns of future financial instability.

#15 The unemployment rate in Australia has risen to the highest level in more than 10 years.

#16 The central bank of India is in a panic over the way that Federal Reserve tapering is effecting their financial system.

#17 The effects of Federal Reserve tapering are also being felt in Thailand...

In the wake of the US Federal Reserve tapering, emerging economies with deteriorating macroeconomic figures or visible political instability are being punished by skittish markets. Thailand is drifting towards both these tendencies.

#18 One of Ghana's most prominent economists says that the economy of Ghana will crash by June if something dramatic is not done.

#19 Yet another banker has mysteriously died during the prime years of his life.  That makes five "suspicious banker deaths" in just the past two weeks alone.

#20 The behavior of the U.S. stock market continues to parallel the behavior of the U.S. stock market in 1929.

Yes, things don't look good right now, but it is important to keep in mind that this is just the beginning.

This is just the leading edge of the next great financial storm.

The next two years (2014 and 2015) are going to represent a major "turning point" for the global economy.  By the end of 2015, things are going to look far different than they do today.

None of the problems that caused the last financial crisis have been fixed.  Global debt levels have grown by 30 percent since the last financial crisis, and the too big to fail banks in the United States are 37 percent larger than they were back then and their behavior has become even more reckless than before.

As a result, we are going to get to go through another "2008-style crisis", but I believe that this next wave is going to be even worse than the previous one.

So hold on tight and get ready.  We are going to be in for quite a bumpy ride.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 02/14/2014 - 21:22 | 4438382 AMGdesignnl
Fri, 02/14/2014 - 21:25 | 4438393 autofixer
autofixer's picture

It is fortunate that my friends in Rio de Janerio are so poor, that they will never notice a recession or even a depression in the favelas. 

Fri, 02/14/2014 - 22:05 | 4438471 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

Remedies...:

1) Sell US stocks

2) Buy physical gold

3) Keep some CA$H handy in case of deflation

4) If you are extra paranoid (like me): guns & ammo, and other preps.

Fri, 02/14/2014 - 22:30 | 4438544 max2205
max2205's picture

Heard this shit from 2006 through 2014.

Fri, 02/14/2014 - 22:40 | 4438576 americanspirit
americanspirit's picture

max2205 - ever hear the story of the boy who cried wolf? Good story.  Worth considering.

Fri, 02/14/2014 - 23:11 | 4438653 BoNeSxxx
BoNeSxxx's picture

Exaclty.  Every empire has fallen in exactly the same way.  Only difference is no economy has been able to export its pain (inflation) across the globe to prolong it.  The Romans were the closest parallel... and let's just say that we are not speaking Italian today...

It doesn't end well.  And the end is near.

Fri, 02/14/2014 - 23:34 | 4438710 johngaltfla
johngaltfla's picture

If you would like some good news, our Emperor in Chief took one up the ASS tonight:

 

Even After Obama Interference, UAW LOSES VW Vote at Chattanooga, TN Plant

Fri, 02/14/2014 - 23:43 | 4438727 WillyGroper
WillyGroper's picture

Wake me when it's Snowden or Putin making the delivery.

Sat, 02/15/2014 - 00:23 | 4438734 Prisoners_dilemna
Prisoners_dilemna's picture

#10  Riots roaming Venezuela

The Ignoble Rahm Emanuel taught us to "never let a crisis go to waste".

So i decided to reach out again thru twatter to my good friend, the ignoble Nicolas Maduro, and offer some unsolicited advice about his current non-crisis-everything-is-calm.

Hat tip to LTER for the inspiration and content of this tweet.

https://twitter.com/LevonMarcellus/status/434536313132290048

 

Any good boyscout can tell you this is going be a conflagration once the spark catches.

Be prepared.

      .--.
   .'' ;  |.-.
   |  |  |  |
   |  |  |  |
   |  |  |  |_
   |  | _|  / `,
   }  /``) /  /
   |`/   /:__/ \
   |/   /        |
   (   '\        |
    \    `.     /
     |         |
 jgs |        |

Sat, 02/15/2014 - 03:06 | 4438965 Frank -THE COIN -
Frank -THE COIN -'s picture

Do Your Thing !

Sat, 02/15/2014 - 08:20 | 4439054 GetZeeGold
GetZeeGold's picture

 

 

Heard this shit from 2006 through 2014.

 

You only pull off TARP once....and that's how many times we've done it. The smart people used it to get out.

 

Janet Yellen has a monthly needle for your arm. Just one more big slug might do the trick.

http://www.youtube.com/watch?v=VAMTXnh2O9M

 

 

Sat, 02/15/2014 - 17:43 | 4439202 Shocker
Shocker's picture

Everyone is going through interesting times at this moment.

 

Sat, 02/15/2014 - 07:08 | 4439030 Jendrzejczyk
Jendrzejczyk's picture

Ha! Maduro responded to you.

 

"El Fascismo basa su acción en sembrar el odio y la intolerancia,vamos a demostrarle donde esta la Fuerza y la MayoríadelAmor de esta Patria."

Sat, 02/15/2014 - 07:56 | 4439057 RSloane
RSloane's picture

Wasn't it Maduro who recently said "Trust me I'm a socialist, I know what I'm doing?"

Sun, 02/16/2014 - 15:06 | 4442503 Keyser
Keyser's picture

Much like when a redneck shouts, hey Bubba, hold my beer and watch this!!! You know it won't end well, but it will be entertaining... 

 

Sat, 02/15/2014 - 00:12 | 4438771 RafterManFMJ
RafterManFMJ's picture

One of Ghana's most prominent economists says that the economy of Ghana will crash by June if something dramatic is not done.

Hee Hee Hee

I've read the entrails of the goat, and the signs portend a 10 billion taper in March.

Sat, 02/15/2014 - 03:53 | 4438996 Villageidiot777
Villageidiot777's picture

No worries, Chinese are helping them out. Chinese are going to make Ghana the biggest open pit mine and after they are done, farmers of Ghana just need to fill the hole with land and start farming. Worrying about fresh water, pollution, erosion, lack of everything can be done afterwards.

Sat, 02/15/2014 - 08:43 | 4439098 Semi-employed W...
Semi-employed White Guy's picture

Ghana has an economy?

Sat, 02/15/2014 - 14:52 | 4439858 Matt
Matt's picture

They have resources ... lots of gold I think.

Sat, 02/15/2014 - 00:56 | 4438857 boogerbently
boogerbently's picture

Same with WalMart.

Unions want businesses, workers DON'T want unions.

They vote them down every time they get the chance.

Sat, 02/15/2014 - 02:03 | 4438916 Ward no. 6
Ward no. 6's picture

i worked at walmart once and after getting hired one has to sit through lectures of why unions are bad....

i thought it was really strange that they would do this

workers are against them there cuz they are afraid to go vs. what walmart wants...

at least that is the way i saw it

 

Sat, 02/15/2014 - 02:06 | 4438923 -NaN-
-NaN-'s picture

You dont need a union to quit your job if you dont like the way they do things.  If enough people quit, then they have to up their standards to keep their workers around.  And if Walmart is the best you can do for yourself, who's fault is that?

Sat, 02/15/2014 - 02:24 | 4438942 Ward no. 6
Ward no. 6's picture

i worked there for 2 months xmas time for xtra money while i had a full time job somewhere else....

 

Sat, 02/15/2014 - 09:43 | 4439159 imapopulistnow
imapopulistnow's picture

1)  The nation needs more people like you.

2) Something needs to be done to increase the take home pay for people like you (without screwing up the economy in the process)

Sat, 02/15/2014 - 13:07 | 4439553 zjxn06
zjxn06's picture

Good for you Ward #6. Better than being a parasite and sucking off the government teet.

One Christmas holiday, between semesters at college, I worked for Manpower (temp agency) to earn some quick coin.

They told me to show up at a location in town.

Turned out to be an abandoned 7-11.  Greek guy had bought it and was going to convert it to a greasy spoon.

Our job was to break out portions of the concrete foundation so he could re-route plumbing for his new restaurant.

It was 20 degrees outside - and 20 degrees inside.  No heat.  Greek guy gave us all 8 lb sledge hammers and told us to go at it.

By lunch time I was the only guy still swinging a hammer.  The other three guys - winos - just dropped their hammers and left.

Each day new guys would show up, but after a few hours they were gone.

Was able to finish the job by myself by the end of the week.  Afterward, Greek guy offered me a job to come work for him as manager.

Chose instead to continue college and get my engineering degree.

Hard work, tenacity and integrity still pay off.  Unions are apposed to all three.

Sun, 02/16/2014 - 03:22 | 4441600 jeff montanye
jeff montanye's picture

hee, hee.  corporations, governments, unions all had excellent reasons to come into being and much good work was done.  looking at the current manifestations one can be forgiven for thinking some metamorphoses may need to occur.

Sat, 02/15/2014 - 10:09 | 4439183 Accounting101
Accounting101's picture

Oh, the Oligarchs just love you.

Sat, 02/15/2014 - 02:56 | 4438960 Muppetrage
Muppetrage's picture

If an american builds a factory in china is he a commie lovin, traitor exploiting the poor or is he a union bustin, freedom lovin, randian hero?

Sat, 02/15/2014 - 06:58 | 4439027 ParkAveFlasher
ParkAveFlasher's picture

False dichotomy.  He is neither of those two choices.  He is simply toeing the globalist line.  From what I've seen of Chinese commercial goods, one gets what one pays for.  Chinese suppliers know precisely how to price their offerings, usually a few cents per unit lower than any American or European can offer at rock-bottom, at-cost, or regulation-skirting terms.  Sure, we can sell you that for less.  How many you need?  If there is one certainty in life, it's that you get what you pay for.

Sat, 02/15/2014 - 09:50 | 4439166 imapopulistnow
imapopulistnow's picture

China will give you the land to build on, will permit your plans overnight, will give you favorable tax treatment, will not impose excessive regulatory requirements and will offer low cost, quality labor.

A factory can be up and running in less than a year.  Here, that same factory would be about 1/3rd through its permitting process after a year.

Any company that does this is simply responding as they must.  One can piss and moan about how they should be socially responsible, but it is a competitive jungle out there and the ones who do not constantly strive to improve their competitive position will not be around for very long.

Sat, 02/15/2014 - 10:57 | 4439252 Muppetrage
Muppetrage's picture

Ok since you see human beings as a commodity, ask yourself honestly if you would encourage your adult children to work in a Chinese factory if it was their only prospect for work.

Sun, 02/16/2014 - 15:13 | 4442525 Keyser
Keyser's picture

If it were a mattter of survival, what would you do? At some point reality wins out over moralistic principals. 

 

 

Sun, 02/16/2014 - 03:30 | 4441606 jeff montanye
jeff montanye's picture

if you believe that "if there is one certainty in life, it's that you get what you pay for" you clearly haven't been investing enough money with bernie madoff, jon corzine, jamie dimon, goldman sachs generally....

probably didn't contribute less than $1,000 to the first obama campaign either.

Sat, 02/15/2014 - 07:02 | 4439028 Rafferty
Rafferty's picture

Good question.  My own response would be that were his native country to enable him to undertake his business without undue interference he'd be the former.  In the current climate, what with AA, OSHA and every other kind of impediment to excellence I'd say he'd be the latter.

Sat, 02/15/2014 - 09:53 | 4439167 imapopulistnow
imapopulistnow's picture

You nailed it.

Sat, 02/15/2014 - 10:06 | 4439181 Accounting101
Accounting101's picture

He nailed his stupidity.

Sat, 02/15/2014 - 10:05 | 4439179 Accounting101
Accounting101's picture

Right, he will build it China because of OSHA. Not because he can pay a Chinese girl 5 cents a day with no absolutely no benefits. You're a dumbass. It's because of economic illiterates like you that we are economically dying. Your idiocy perpetuates the power of the Oligarchs.

Sat, 02/15/2014 - 10:28 | 4439211 theliberalliberal
theliberalliberal's picture

the 5c a day is bullshit.  those days are gone.

a skilled welder gets about $400 a week.

sure he's worth $1400 a week in a developed nation,   and sure you can pay only $150 in indonesia, 

but people dont use indo that much (although Batam is getting more and more work) coz China works start their shift the second the bell rings.  

source: welding inspector in australia going over a client supt.

 

 

Sat, 02/15/2014 - 15:27 | 4439966 Colonel Walter ...
Colonel Walter E Kurtz's picture

But I need you to understand something...OSHA never stops regulating (as well as every other government agency). They have long ago taken care of the obvious big issues and now are regulating down to minute levels. Their job depends on continually finding new issues that only they can solve. These regulations are just like most of our criminal laws....everyone can end up being a criminal because everyone is breaking laws. It is only a matter of time until your local friendly regulator comes around and examines your actions with a fine tooth comb for violations (ever hear of the EPA nightmares) . Trying to comply is costly and if OSHA had there way, nothing would get done because you would one safety person per one productive worker.  It has gotten to the point (not just OSHA regs) that to survive you must ignore regulations at your own peril. Hence if you can escape them by going outside the country.....that is exactly what you do.

Sun, 02/16/2014 - 15:17 | 4442541 Keyser
Keyser's picture

Economic illiterates, really? Then why has the majority of manufacturing been offshored from the US over the last 30 years? Me tinks you protest too mutt due to you belief that Americans and the US is exceptional... That moralistic turpitude, plus $4 with get you a cup of Joe down at Starfucks... 

 

Sat, 02/15/2014 - 09:08 | 4439112 falak pema
falak pema's picture

if he twerks his pecker to the left he is a commie if he twerks it to the right he is an Ayn Rand addict. 

If he jerks it around like a helicopter blade he has to be a neo con plant who is saying its time to bomb the Manchurian candidate. 

I think we should ask Miley to act as Olympic games judge, she knows all about twerking n jerking off. 

Sat, 02/15/2014 - 11:58 | 4439381 Sven Sikztu
Sven Sikztu's picture

no he is a moron building something he will never actually OWN. As a great woman once said, if you can't stand in front of it with a high powered rifle you don't own it!!

Sat, 02/15/2014 - 13:20 | 4439607 HL Shancken
HL Shancken's picture

That great Woman is Ann Barnhardt and she makes the rest of us look like government shills by comparison. Everyone in the country needs to know who she is and what she stands for, because she's on the road to matyrdom. Her arrest and detainment at some future date should be the tipping point, the catalyst, for the real start of the counter-revolution, but that will only happen if the word is spread right now.

Sat, 02/15/2014 - 14:44 | 4439835 Brit_Abroad
Brit_Abroad's picture

Yup

A bit too much Religion for my tastes, but by God she has a big pair of Brass ones.

If 1% of American males were like her it would be game over already for the PTB.

Sat, 02/15/2014 - 08:10 | 4439065 Drifter
Drifter's picture

"Every empire has fallen in exactly the same way."

Yep, slow and boring, not a "flash crash" we'd all like to see.

Our slow boring demise "officially" began in 2008 when Fed really cranked up the presses.

An empire dies as the currency dies, our currency started dying in 2008, it won't die overnight, it's taking years obviously.

They're doing an admirable job of covering up our slow currency collapse, but you see it if you look at multi-year trends, like USD losing half its purchasing power since 2008.  Half.  50%.  Why prices of food and gas have doubled.

If it happens slowly people don't notice it much.  So the key is keep it collapsing slowly, over years. 

It works until some outside force causes a sudden collapse.  Some outside force beyond their control.

Sat, 02/15/2014 - 09:53 | 4439168 Abi Normal
Abi Normal's picture

LOL, you mean the $ has lost a whopping .02 cents of it's .04 cent value since 2008?  Spare me, the $ has been crashing since 1913, or there abouts. 

2008 was just a big as bubble bursting, you know, housing prices will never go down kinda thought, just like it will happen to the stawk mkt, etc...

We live in the twilight of human civilization right now, the thin veneer holding our society toghether is being finished off as we speak, yet all we do is pound sand, or our keyboards....apathy is the silent killer of America.

You can't blame the American people too much, the uneducational system here has dumbed us down quite effectively...just read the Congressional record from 1963 to see where the scorecard stands...the commies are just about done with us now.

I guess I will die a free man, because I will never live on bent knee to a tyrannical govt, like the one we have now.  Will it be the roving gangs, or the MIC that gets me, or will it be the anarchists?  I will say this, either way, you better bring a fucking army!

Sat, 02/15/2014 - 09:58 | 4439172 imapopulistnow
imapopulistnow's picture

I got my Daisy Repeater locked and loaded.

Sat, 02/15/2014 - 10:43 | 4439226 Abi Normal
Abi Normal's picture

LOL, you got the right idea, but the caliber wrong...pssst, think a tad bigger!

Sat, 02/15/2014 - 09:59 | 4439174 ncdirtdigger
ncdirtdigger's picture

Not to be too critical, but the debasement of our currency began long before 2008. Trickie Dickie was clipping gold coins back in the 70's.

Sat, 02/15/2014 - 12:57 | 4439532 tempo
tempo's picture

As long as equity prices move higher, no one believes there are problems!! Its all quite simple for the .01%.

Sat, 02/15/2014 - 16:25 | 4440149 mister33
mister33's picture

Well put. Though I do think that our technological capacity is far greater than in the past when the same economic fiat bust cycles have taken place (i.e. Rome). Alternate energy technologies (held back by the petroFRNote ring) might allow us to expand our global energy base and alter the way society functions from a scarcity based monetary society to a high-tech intelligent distribution of resources society more in tune with nature and less obsessed with material excess. It's clear that our old operating system cannot handle the demands of global society now and it will fail - with mathematical certainty (Usury). Humanity's future may not be so bleak on the otherhand... an updating of operating systems rather than a game over perhaps?

Sat, 02/15/2014 - 18:13 | 4440444 BoNeSxxx
BoNeSxxx's picture

"an updating of operating systems rather than a game over perhaps?"

Yes please.

Sat, 02/15/2014 - 09:29 | 4439148 Cloud9.5
Cloud9.5's picture

For those who have forgotten, the wolf did show up.  Trends are trends.  Look how long it took for Detroit to go under.

Fri, 02/14/2014 - 22:57 | 4438618 El Tuco
El Tuco's picture

Yeah no shit....

 

and in other news Ethiopia has a drought and food shortage....

 

 

Sat, 02/15/2014 - 16:52 | 4440221 John_Coltrane
John_Coltrane's picture

But as the late, great Sam Kinnison once quipped,

"of course, they're starving, they live in a fucking desert.  Why don't they move?"

Ha Ha, glad we got out of Africa 100000 years ago and moved north where life is cold and tough and natural selection favors cognitive cleverness and analytical thinking (i.e. WASP culture)

Sat, 02/15/2014 - 08:39 | 4439096 double 007
double 007's picture

no shit brought to by courtsey of ZH

Fri, 02/14/2014 - 23:15 | 4438661 Gilligan's isle
Gilligan's isle's picture

I was under the impression that you were offshore. Not true?

Sat, 02/15/2014 - 00:37 | 4438809 DoChenRollingBearing
DoChenRollingBearing's picture

I live in the USA, just back from vacation in C.R.  Our bearing import company is in Peru.

Sat, 02/15/2014 - 09:57 | 4439169 Abi Normal
Abi Normal's picture

I used to work with a guy from Peru, nice guy, funny, and knew his shit...too bad the co. fired him cause he was hard to understand (thick accent, broken english, and a too large of a head).

Anyway, I have been reading so many people's blogs who say they are gonna move south, or whereever, outside of USA.  I wonder how long they will last in a foreign country when TSHTF???  Me thinks, not long!

Sat, 02/15/2014 - 12:56 | 4439528 Crash Overide
Crash Overide's picture

In the land of the blind, the one eyed man is king.

Sat, 02/15/2014 - 10:22 | 4439200 thestarl
thestarl's picture

Peru a good place DoChen?

Fri, 02/14/2014 - 23:40 | 4438721 mickeyman
mickeyman's picture

Stockpile toilet paper, or get used to using cash as an alternative.

Sat, 02/15/2014 - 10:01 | 4439175 Abi Normal
Abi Normal's picture

In days of old, when men were bold, and (toilet) paper was not invented, they wiped their ass with dry grass, and went off quite contented!  There is also the left hand, ROFLMAO!!!

Yes, it will come to that I'm afraid...unless some miracle happens first, but I doubt it!

Sat, 02/15/2014 - 07:47 | 4439053 lakecity55
lakecity55's picture

I agree, friend, but I have kept my junior silver miners.

Endeavour, Pan Am, etc.

 

Sat, 02/15/2014 - 00:26 | 4438796 -NaN-
-NaN-'s picture

When the shit hits the fan in America, everyone will notice but the Amish. (and a small percentage of "preppers")

Sat, 02/15/2014 - 01:04 | 4438869 Skateboarder
Skateboarder's picture

It takes calories to get to preppers and the Amish.

Unless you are a drone. :(

Sat, 02/15/2014 - 13:00 | 4439542 Crash Overide
Crash Overide's picture

I forget where I read the article but some ex-military types were talking about how they loved preppers doing all the work for them. The whole thought is they can just organize a make shift unit and go take what they want from "preppers" when it all goes down...

 

 

Sat, 02/15/2014 - 14:07 | 4439733 Overfed
Overfed's picture

Better pack a lunch.

Fri, 02/14/2014 - 21:23 | 4438387 autofixer
autofixer's picture

"You lie!"  Obamao fixed all that and we are the beloved of the World! 

Fri, 02/14/2014 - 21:40 | 4438425 kevinduhand
kevinduhand's picture

 

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

quote from one of the comments:

I have news for you, the American government closed off their gold,silver and oil land for drilling and mining and call it the wildlife protection land in US. We are saving all that for the future when we used everyone's else.Then Fed's collected all that gold from all those countries way back when the Fed's issues bonds to all those countries worldwide who ship all their gold to Fed's when gold wasn't used as currency to print money anymore. Then Fed's print money to Americans Gov to build up their arm forces by doubling everyone military combine since WW2 to protect the Fed's Gold because they have the all the worlds gold in America. The Fed's have more gold then anybody can't imagine and still do. The Fed's have so much gold that no matter if the Chinese,India and Russia bought as much as they can every year, the Fed;s will still have 20 years and more of gold bars left over to sell them not counting the wildlife protection land that we are hiding all that gold,silver and oil in America. That why the United States will never crumb as number one power and the dollar will still be king for a long time. The United Sates Out smarted the Chinese and Russian in believing they could buy all the world gold and have no idea whats hiding in United States land and  Federal Gold reserve..

Fri, 02/14/2014 - 21:40 | 4438426 kevinduhand
kevinduhand's picture

My father worked with the defense dept as a GS13 (government service rank) He was the man that had to buy jet fuel for the Air Force in the Iraq Shield war when we had just practically bombed them everyday. I asked my father, who's retired now, that everytime something happens that deals with America, you disappear for days to a week before it hit the news. He said "Son, my job is to get jet fuel bought from big oil companies and get them to a area nearest to effected area we are attacking so our jet and bombers will refuel up or we will be dead in the waters without it" He also told me that the gov. is hiding 2-3 hundreds years of oil in America and had not to used it until the world started to run out. Hopefully, years down the road, 2nd and 3rd world countries nations will start running out of oil and the USA will probably be off most of the oil supplies by then. Now the United States will start to drill and the world has to depend on us for hundred's of years in 2nd and 3rd world countries. The United States thinks ahead and a lot of people think we are dumb but actually, we very smart. It makes sense! We use everyone else's oil and then use our last to keep the power of United States. Like squirrels! Don't you think we are doing the same thing with gold? I do!

Fri, 02/14/2014 - 21:54 | 4438429 kevinduhand
kevinduhand's picture

I personally think this comment from the youtube video is very true and the Fed definitely has hidden gold and thinking ahead to beat the evil Chinese and Russians. We should all trust the Fed and government and stop watching so many conspiracy nut job videos and blogs!

Everybody should start selling your worthless gold and buy stocks! USA will always be number ONE!

Fri, 02/14/2014 - 21:56 | 4438455 zaphod
zaphod's picture

All of this probably is true, but not enough.

What the planners did not factor in was the full effect of exporting the entire US manufacturing base overseas. The US has lost a significant amount of know how and those resources and jobs are not coming back. This in the end is going to destory the US economy. What is the US going to be? 100% stock brokers, real estate agents, health care workers, educators, regulators and wellfare takers? 

Fri, 02/14/2014 - 23:06 | 4438490 Ness.
Ness.'s picture

Ok. I get it now.  Million Dollar Bonus is back.  Whew!  I was starting to think someone might actually be this fucking stupid.   

 

SO to fonestar.  Keep your head up buddy!  

 

"I moved here from Canada, and they think I'm slow, Eh?"

 

http://www.youtube.com/watch?v=5FEW5mh7iAI

Sat, 02/15/2014 - 03:27 | 4438973 Lore
Lore's picture

I have a neighbor who talks like Kevinduhand.  He's what you call a Company Man, brimming with bullshit, a classic example of the type that will maintain "It can't happen here" until it does, and then he'll snap in some weird and imaginative way.

Sat, 02/15/2014 - 08:39 | 4439095 RSloane
RSloane's picture

Kevin "duh" is just c/p his comments from other threads here.

Sat, 02/15/2014 - 08:47 | 4439103 BeansMcGreens
BeansMcGreens's picture

Be sure to keep him around, it will be worth the beans to feed him. This neighbor might be useful for something like the Peter Graves character in the movie "Stalag 17".

Sat, 02/15/2014 - 09:01 | 4439118 FredFlintstone
FredFlintstone's picture

Hang himself in his 3-car garage loaded with all his big boy toys. Of course give his favorite car a kiss before his ascent up the step ladder.

Sat, 02/15/2014 - 11:11 | 4439280 KickIce
KickIce's picture

No he just wants us to sell gold and buy stocks because he's worried about daddy's pension.

Sat, 02/15/2014 - 07:09 | 4439033 Rafferty
Rafferty's picture

True.  If you live abroad like I do but visit, or have colleagues visit the USA on business every so often you can see the sharp decline.  And it's everywhere.  Case in point. A colleague just back from a meeting in Ft. Lauderdale.  Seven of the eight senior execs at the final meeting were foreign.  And the electical power infrastructure?  Don't get me started. 

 

USA has been destroyed, it'll just take a little more time for the full horror to become apparent.  It won't be the USA anyway, it'll be a simulacrum of Brazil, ethnically, economically and politically.

Sat, 02/15/2014 - 10:05 | 4439178 imapopulistnow
imapopulistnow's picture

I agree.  China may have a nasty crash in a year or two, but they plan for the long-term and they have done a remarkable job at taking over industries and their respective supply chains.  China will be the dominant economic power.  It is only a matter of time.

Sat, 02/15/2014 - 13:30 | 4439639 Nick Jihad
Nick Jihad's picture

So they finally abandon Five Year Plans, and you credit them with being some kind of inscrutable oriental geniuses? Don't be a twit. 

Fri, 02/14/2014 - 22:13 | 4438502 philipat
philipat's picture

So if they really have all that hidden Gold, why can't they return the few hundred tonnes owned by Germany that Germany now wants back? You Guys are dreaming. There is no Gold left in The US.

Fri, 02/14/2014 - 22:21 | 4438524 kevinduhand
kevinduhand's picture

What if it was a chess move by Obama and Ben to show the weakness of USA?

Remember the Fed and the geniuses in Wall Street used deception to destroy the Euro by putting a Trojan horse that is Greece into the Euro zone! US government and the Fed are not as dumb as the conspiracy nut job thinks!

Fri, 02/14/2014 - 22:42 | 4438584 philipat
philipat's picture

The US has $18 Trillion in debt, increasing at around $1 Trillion pa. plus about $100 Trillion in unfunded liabilities. That debt can never be repaid and the unfunded liabilities can never be delivered. The US is BROKE. The Gold is long gone and that which remains is leveraged paper, hypothecated, re-hypothecated many times over. If The Fed actually had any Gold, why not just schlep 300 Tonnes out to JFK and onto 3 eagerly waiting Lufthansa 744 freighters?

Fri, 02/14/2014 - 23:00 | 4438633 kevinduhand
kevinduhand's picture

Guess what the government has it all planned out, they'll try to drag China into a war with Japan as you can see with the "Pivot to Asia", and even if the Fed has no choice but to default and let the dollar collapse, China will be left with nothing but metals that has no value. While USA has oil and a strong military that will enable America to rule the world once again and forever!

Fri, 02/14/2014 - 23:17 | 4438662 NemoDeNovo
NemoDeNovo's picture

Nice fantasy, but these asshats 'in charge' right now are not that bright, wishful thinking IMO, but YMMV.......

Fri, 02/14/2014 - 23:37 | 4438697 kevinduhand
kevinduhand's picture

I think they have it all planned out, "they" as in the real masters behind the scenes, they even armed the DHS and are training them to kill the right wing terrorists and the angry mobs and will lock them up in the FEMA camps, which I fully support.

Though Obama should start banning the guns ASAP or else those nut jobs might start hurting innocent people.

Sat, 02/15/2014 - 00:14 | 4438757 Late onset ADHD
Late onset ADHD's picture

oops... the ward got the thorazine/haldol watercooler mix just a little too diluted this evening.

don't hurt yourself.

Sat, 02/15/2014 - 06:55 | 4439024 philipat
philipat's picture

Yup, definitely one flew over the cuckoo's nest.......

Sat, 02/15/2014 - 07:31 | 4439045 lakecity55
lakecity55's picture

This guy has to be using sarcasm.

Sat, 02/15/2014 - 08:24 | 4439080 GetZeeGold
GetZeeGold's picture

 

 

 

 

What if it was a chess move by Obama and Ben

 

Heh heh......I'd buy checkers....not chess.

Sat, 02/15/2014 - 10:10 | 4439185 imapopulistnow
imapopulistnow's picture

"This guy has to be using sarcasm."

New to this board are you? :)


Sat, 02/15/2014 - 00:18 | 4438777 Prisoners_dilemna
Prisoners_dilemna's picture

Green arrows mean we agree with you. Red arrows mean we find you entertaining.

Keep coming back bud. It works if you work it.

Sat, 02/15/2014 - 01:41 | 4438901 IridiumRebel
IridiumRebel's picture

No shit! I like this asshole. Your posts are great. Are you Paul Krugman or his dumb cousin? Speak more of the American Strategery! Do we have gold on the moon? That's where I'd hide it! What's your favorite planet? Mine's the sun.

Sat, 02/15/2014 - 17:00 | 4440242 John_Coltrane
John_Coltrane's picture

How stupid do you think ZHer's are?  The moon is made of green cheese not gold as any schoolboy knows.  Its our strategic cheese reserve (SCR)!  Now if it wasn't for that pesky gravity, it would be so easy to access it.

Gravity, its the weakest of the four forces, but just don't step off a cliff to prove it.

Sat, 02/15/2014 - 07:30 | 4439044 lakecity55
lakecity55's picture

+10. I always add "Hugs not Drugs" to that statement.

Sat, 02/15/2014 - 00:41 | 4438816 TimmyM
TimmyM's picture

You are too stupid to be an entertaining troll. Please go away.

Sat, 02/15/2014 - 01:53 | 4438910 1000924014093
1000924014093's picture

Kev, baby, you're awesome but you are laying it on a little too thick now. . .

Sat, 02/15/2014 - 04:38 | 4439016 CrashisOptimistic
CrashisOptimistic's picture

It was the 200 years of oil that stopped me.  I wanted to call him funny, but I just couldn't.  The noise about gold doesn't matter, of course.  It was the 200 years of oil that was jaw dropping.

Sat, 02/15/2014 - 08:09 | 4439068 beaglebog
beaglebog's picture

200 years-worth of US useage.

 

19 million barrels per day ... times 365 ... times 200   =   1.387 Trillion barrels of oil.

 

Which is about 50 years-worth of global oil production

 

Which is about 220 billion cubic metres of oil.

 

Which is 220 cubic kilometres of oil. 

 

Quite a bit of oil, unless I'm mistaken.

Sat, 02/15/2014 - 10:15 | 4439191 imapopulistnow
imapopulistnow's picture

He's probably not too far off the mark.  Sadly most of this oil is impedded in rock and may take a couple of hundred dollars a barrel to extract.

http://en.wikipedia.org/wiki/Oil_shale#Reserves

Sat, 02/15/2014 - 10:49 | 4439236 _SILENCER
_SILENCER's picture

All right , Kevin. At first I thought you were just hopefully delusional. Now I can see you're most likely trolling.

Sat, 02/15/2014 - 08:24 | 4439081 Drifter
Drifter's picture

Making $2.5 trillion of US govt debt suddenly go worthless would defintely take Japan's and China's attention off each other and focus it squarely on America in a retalitatory sort of way.

It doesn't matter how much hidden oil and gold America (allegedly) has.  America is the US dollar, and it's dying.

Sat, 02/15/2014 - 00:10 | 4438770 dark_matter
dark_matter's picture

There is still quite a bit but it is at the bottom of lakes due to unfortunate boating accidents.

Sat, 02/15/2014 - 18:32 | 4440474 DosZap
DosZap's picture

So if they really have all that hidden Gold, why can't they return the few hundred tonnes owned by Germany that Germany now wants back? You Guys are dreaming. There is no Gold left in The US.

 

So, Why/HOW did we repatriate 500 Tons to a damned dictator that hates our(hated) guts?.in ONE shipment?.

Ooops forgot,that is typical of Obamao.

Fri, 02/14/2014 - 22:15 | 4438505 SgtShaftoe
SgtShaftoe's picture

So, imagine as a thought experiment for a moment:

Some benevolent bankers and central planners stash a shitload of gold and oil in various places for a national "rainy day".  Only a few people know about it.  Then in the next 50 years, a stream of less than honest politicians cycle through those same positions, learn about the "stash" the virtual absence of documentation around it, and they don't take a teensy little cut off the top each time???? really!!!??!???

I think a far more likely, and worse thought experiment is, in the 1940s, we had Ft. Knox full of gold, then you had a bunch of crook treasury officials and washington thieves skim the top for themselves and "national interests of supporting the dollar".  Then each new batch of thieves played musical chairs, took their cut, making the logical decision that they would be dead before anyone found out about it.  Now it's all nearly gone, and the music is slowing down and the grand theft will finally be exposed!  So they have to do something drastic and terrible to hide the truth. 

That is the nature of the human condition.  People cannot be trusted with power EVER!  Not even me!  That's why the founders of this country did their best to spread power across as many various groups as possible to prevent concentration of power. 

We had a good run, hopefully we can that republic back that Franklin talked about. 

Fri, 02/14/2014 - 23:24 | 4438684 acetinker
acetinker's picture

FAR more likely than kevinduhand's YT friend's opinions.  It seems Occam's razor applies.

Sat, 02/15/2014 - 10:34 | 4439220 TheReplacement
TheReplacement's picture

You can always trust me with power.  I will always do the right thing that is best for you. 

Sat, 02/15/2014 - 13:05 | 4439557 Crash Overide
Crash Overide's picture

Yeah the FED hid gold in caves in the Philippines and Leo Wanta is guarding them from the Russians and Chinese Dragons...

Fri, 02/14/2014 - 21:46 | 4438435 Tinky
Tinky's picture

Since when does broadband work under bridges?

Fri, 02/14/2014 - 21:59 | 4438457 laomei
laomei's picture

Interesting theory, but wrong.  Oil companies are not state owned and will therefore gleefully exploit everything they lay their hands on and lobby to gain access to anything even remotely off limits.  Over in China, yes, that's pretty much exactly the way it works, as the government can simply say "no", while all resources under the law belong to the state with exploration permits generally reserved for domestic companies.  With finds being considered a state secret until further notification.  It works, because the leaders of those companies are assigned by the government.  

Fri, 02/14/2014 - 23:44 | 4438729 disabledvet
disabledvet's picture

I agree with this. Only three countries in the world allow for truly independent oil companies: the USA, Canada and Great Britain.

And one look at the production numbers inside the USA and you can see why.
The purpose insofar as the USA is concerned is to support the dollar.

For a good "reverse repo" take a look at South Africa.
That should be the wealthiest place on earth...along with many other areas of the world i might add...but they refuse to allow "their" resources to be managed in a way that creates a currency worthy of the name.

Since gold will never re-appear as money (unless we get another 2008 here and prices really do drop 40-60%) that leaves the energy complex, oil, natural gas...and coal.

And of course you need a great transportation system. Everyone on Earth was waiting for the big price increases to hit the USA when the huge winter storm roared up the East Coast "snarling traffic" and bringing it to a standstill.

Didn't happen though did it.
Indeed...now the onus will be on PRODUCTION to make up for all those "lost opportunity costs" caused by...of all things..."winter being winter."
The problem for the bulk of the USA remains pricing is in dramatic decline while production surges. We have had huge inventory builds...without Chinese demand right now we'd be in the midst of a huge recession.

If China's demand suddenly drops I strongly believe that will have a global impact and perhaps dramatically so.

Sat, 02/15/2014 - 04:44 | 4439019 CrashisOptimistic
CrashisOptimistic's picture

How do you do it?  How do you uncork such wrong text day after day after day.

Why exactly do you think it is called Royal DUTCH Shell.  Or Total from France.  And oh what the hell, I could even rub it in with Lukoil in Russia, but what's the point.  How about Spain's Repsol.  All private companies.  All have shareholders and pay dividends.  Repsol employs 40,000 people worldwide.

You're an amazing guy.

Fri, 02/14/2014 - 22:09 | 4438482 DoChenRollingBearing
DoChenRollingBearing's picture

kevinduhand, you sound a lot like Bix Weir (roadtoroota.com IIRC).

I kind of doubt that our .gov is/was that smart...

Fri, 02/14/2014 - 22:16 | 4438507 philipat
philipat's picture

Especially the present Administration.

Sat, 02/15/2014 - 10:30 | 4439213 Eisenhorn
Eisenhorn's picture

Then again....

 

If you owe the world a billion dollars, it's YOUR problem.

If you owe the world $18 trillion....

 

Fri, 02/14/2014 - 22:47 | 4438595 shutdown
shutdown's picture

If you were in the military you'd fail a drug test. 

Sat, 02/15/2014 - 08:50 | 4439048 falak pema
falak pema's picture

which hand is the hand that waves kevin's magic wand???

Its used to a lot of hard solitary work by the looks of it! 

This is MDB quality trolling.

Sat, 02/15/2014 - 09:25 | 4439146 Pumpkin
Pumpkin's picture

You gettin a lot of down votes for thinking.  I don't think the bankers took centuries to contain the gold only to allow it to slip out of their hands and back into the very hands they took it from.  They, IMO, are setting on a mountain of gold and when fiats crash, the cycle will start over again.  There will be a gold standard or we will acutally use gold itself, and the fiat bankers will then still be holding all the financial cards.

Sat, 02/15/2014 - 10:00 | 4439176 Cloud9.5
Cloud9.5's picture

 

We all suffer from the fact that we can only see our little piece of the puzzle and from that piece we construct a world view.  I have no doubt that your Pop was right.  The military has squirreled away strategic reserves to carry us through the next conflict.  All branches understand full well that the entire military machine runs on oil.  Without it they are a 19th century force with no sailing ships and no horses.  I doubt very much if any of that oil will be released to run soccer moms back and forth to the malls.

 

I think the shale oil plays and the tar sands are fulfilling the same role played out by Alaskan oil.   It has given us a few more years of BAU.   Last time I was in Alaska, the locals were very concerned over the decline of production from their oil fields.  The talk was that in a few short years the production would drop to a point that the pipeline would have to be shut down.

 

The Hubbert Curve has proved to be correct in predicting the decline in lite sweet crude.  It is only logical that as the cheap stuff declines and the more and more of the expensive stuff is called on to fill the void that our expenditures on energy extraction will continue to increase to the point that it becomes a zero sum game.  I suspect we will have a systemic failure before that happens.

 

Even after the collapse, I have no doubt that we will still have fuel for our tanks, MRAPs, and Warthogs.  

 

Sat, 02/15/2014 - 10:06 | 4439180 Abi Normal
Abi Normal's picture

Kevin, I see you speak the truth, but yet you get downvoted by the liberal-tarians here, who have about as much of a clue as to what is going on, as a chimpanzee!

Oh well, these neive little lemmings, like the liberals, will get their wake up call one day, sure hope it is soon.

They say, things like, red team, blue team is nonsense, or they will never take the red or blue pill...ah the matrix theater is thick, especially here on ZH.

Got news for them though, they better pick a side soon, eh??

Sat, 02/15/2014 - 10:25 | 4439203 thestarl
thestarl's picture

To many bongs 

Sat, 02/15/2014 - 10:46 | 4439228 Abi Normal
Abi Normal's picture

et tu brutae?

Sat, 02/15/2014 - 11:49 | 4439356 imapopulistnow
imapopulistnow's picture

You all are just breaking him in.  I once posted a defense of Bernanke and got over 150 down votes.  One of my proudest accomplishments!  

Sat, 02/15/2014 - 16:37 | 4440191 Xandrino
Xandrino's picture

When the US seizes to be the world reserve currency, come back and let us know how you're doing. It will be Hyperinflation overnight. Sayonara, no war will help you then, unless you nuke the whole planet, in which case it's all over for humanity anyways.

Fri, 02/14/2014 - 21:24 | 4438388 Rusty Shorts
Rusty Shorts's picture

On the corner of TWEEK & SKETCH|RENDERING to Ceasar What Is Ceasar's...

Fri, 02/14/2014 - 21:25 | 4438394 Dan The Man
Dan The Man's picture

Must have been my 8yr old that flipped my goldprice app from USD to CAD.  I saw 1448$ and nearly had a fkn heart attack. 

Fri, 02/14/2014 - 21:34 | 4438413 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Children, you can kill them but jail sucks.

Fri, 02/14/2014 - 21:37 | 4438414 skwid vacuous
skwid vacuous's picture

think that's called being "Gartman'd"

Fri, 02/14/2014 - 21:30 | 4438400 Joebloinvestor
Joebloinvestor's picture

Figuratively, it has already caught fire in Argentina.

Fri, 02/14/2014 - 22:47 | 4438590 americanspirit
americanspirit's picture

Actually that was the safe and secure government financial records storage vault run by Iron Mountain that caught fire in Argentina. Terrible tragedy. All that documentation - gone. And to think - it was just about to be digitized so that it could be stored in duplicate off-site. Oh well.

Sat, 02/15/2014 - 08:07 | 4439062 samcontrol
samcontrol's picture

problem is the bitch killed 8 firemen.

Sat, 02/15/2014 - 08:08 | 4439064 samcontrol
samcontrol's picture

it' s always the firemen.

there fixed it for me.

Sat, 02/15/2014 - 08:31 | 4439086 petolo
petolo's picture

They should have installed one of those Fahrenheit 451 detectors.

Sat, 02/15/2014 - 16:39 | 4440199 Xandrino
Xandrino's picture

the Argentinian version of building 7...great isn't it?

Fri, 02/14/2014 - 21:32 | 4438407 BanksterSlayer
BanksterSlayer's picture

If China and 200 other "emerging market" nations suddenly decided to trade amongst themselves using a combination of gold-backed Letters of Credit and a new Petro Yuan ... could we call THAT a "deleveraging"?

 

God Save the Global Currency Reset.

Sat, 02/15/2014 - 01:12 | 4438877 TheRideNeverEnds
TheRideNeverEnds's picture

But we have managed to "bring democracy" to every crazy terrorist nation to have tried what you suggest for the last 100 years. 

 

I am sure the tribe will manage to find someway to either stop or profit from such an eventuality. 

Sat, 02/15/2014 - 07:32 | 4439047 StychoKiller
StychoKiller's picture

I make it a habit NOT to piss off a Country with nukular weapons...

Sat, 02/15/2014 - 17:25 | 4440311 assistedliving
assistedliving's picture

won't happen

1.  there are only 192 nations total

2.  sure we're hated...then ask em what they think about the Chinese or Russians, Brits even

Fri, 02/14/2014 - 21:38 | 4438410 skwid vacuous
skwid vacuous's picture

No worries - Draghi, Kuroda and Ol' Yellen will do "whatever it takes" and my PMs will act accordingly

Fri, 02/14/2014 - 21:34 | 4438411 disabledvet
disabledvet's picture

It's open your eyes and SEE.

"looking around" doesn't do any good. we do that all the time "and still the list is ignored."

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

some people get it...the rest are on "auto-pilot."

Fri, 02/14/2014 - 21:41 | 4438420 Australian Economist
Australian Economist's picture

When the markets crash what happens to PMs and gold stocks?

Fri, 02/14/2014 - 22:08 | 4438488 DoChenRollingBearing
DoChenRollingBearing's picture

PMs will likely do much better than stocks.

Fri, 02/14/2014 - 23:48 | 4438731 disabledvet
disabledvet's picture

well...sure should do better than debt.

Gold might not be money...but it certainly isn't debt either.
If you have the gold somebody owes YOU...not the other way around.

Fri, 02/14/2014 - 22:34 | 4438525 Ness.
Ness.'s picture

JMO.

Everything will get sucked down the drain at first flush.  Treasuries will catch a bid, for no logical reason whatsoever (exactly what the ponzi team needs survive just a little longer) all equities will continue to fall while PM's (Phyzz) and Au/Ag stocks will find their bottom and continue to rally.  You can already see the clouds starting to form.

If you own it, hide it.

 

Sat, 02/15/2014 - 08:31 | 4439087 Drifter
Drifter's picture

Markets won't crash.  Just the currency will.

Look at Zimbabwe's stock market. It kept rising as the currency collapsed.  Same thing will happen here.

Fri, 02/14/2014 - 21:41 | 4438422 jon dough
jon dough's picture

I started to catch fire once but the trickle down eventually put me out.

 

Thanks, Oligarchs!

Fri, 02/14/2014 - 21:53 | 4438449 Sinnedi
Sinnedi's picture

What Global economic collapse? I can still watch stuff on TV and buy stuff from the stores!

Sat, 02/15/2014 - 03:58 | 4439000 UselessEater
UselessEater's picture

gosh, you're so right, no economic collapse here either!

we've even got brood mare Princess Kate visiting us in Oz - cheer on and cough up the bill; y'know for country and morale....

its all good, we can afford the bill....

(we got rid of a few more costly Aust jobs, instigated an anti-welfare policy for average persons, popped another AUD85B or so into our RBA kitty for banker welfare and worked out we needed fewer tax office workers 'cause we've digitised everything by outsourcing our IT systems to ??? workers for some IBM type MIC company who's got the digital databse on every cent moving through homes and businesses. How perfect for the future IMF household wealth tax  apparently required to offset the govt debt about to mushroom, they'll be able to accurately calc our "positive wealth" and claim it as rightfully theirs to de-distribute)...

OMG what if the princess announces she's preggars again while here? Our economy will soar with the turkeys cause that's good fundamental economic news right?

Do NOT follow this link or you will be banned from the site!