It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by BornPatriot
The Financial Collapse conspiracy...
You name it --- they are saying we are going to self detonate at any time..
... Ok, we are in debt ... no job ... no bankrupt ... what happens to like your house - car - investment Stock - bonds .. etc... let me tap your know how...~
Originally posted by 44soulslayer
... within a year you could pay off your mortgage.
Originally posted by St Udio
with a national economic collapse, the normal payment of debt structure would also collapse...
but out of that chaos, the Firms, Corps., Individuals with power ..
'power' defined as some form of wealth that others will accept as payment will hire an 'army' of collectors-enforcers.
When the chips-are-down, watch how many supposed freedom lovers turn coat and sign-on with the mega corps to protect the corporation interests and survive themselves.
they would be outside the legal system but would not be treated as law-less thugs...
however your debt (for car-house-property etc) makes you a static target, meaning they know where to get at you.
this coming financial collapse will be the return of the Feudal State
and all youse debtors will be human chatel...
welcome to the nightmare!
[edit on 30-8-2008 by St Udio]
10 MW--- The housing market is freefalling, setting new records every day for foreclosures, inventory, and declining prices. The banking system is in even worse shape; undercapitalized and buried under a mountain of downgraded assets. There seems to be growing consensus that these problems are not just part of a normal economic downturn, but the direct result of the Fed's monetary policies. Are we seeing the collapse of the Central banking model as a way of regulating the markets? Do you think the present crisis will strengthen the existing system or make it easier for the American people to assert greater control over monetary policy?
Michael Hudson: What do you mean “failure”? Your perspective is from the bottom looking up. But the financial model has been a great success from the vantage point of the top of the economic pyramid looking down? The economy has polarized to the point where the wealthiest 10% now own 85% of the nation's wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy. From their point of view, their power has exceeded that of any time in which economic statistics have been kept.
You have to realize that what they're trying to do is to roll back the Enlightenment, roll back the moral philosophy and social values of classical political economy and its culmination in Progressive Era legislation, as well as the New Deal institutions. They're not trying to make the economy more equal, and they're not trying to share power. Their greed is (as Aristotle noted) infinite. So what you find to be a violation of traditional values is a re-assertion of pre-industrial, feudal values. The economy is being set back on the road to debt peonage. The Road to Serfdom is not government sponsorship of economic progress and rising living standards; it's the dismantling of government, the dissolution of regulatory agencies, to create a new feudal-type elite.