reply to post by walkinghomer
The main thing I have learned about MSM, is if they are reporting something that embarrasses government, makes them look incompetent or suspicious,
immediately double the damage that they dumb down to avoid a panic.
If they are reporting anything else, like a natural disaster, half the damage they are pumping up to make more dramatic.
I have seen a lot of people, professionals and highly paid bankers, stating that it'll be ok. And they have repeatedly been proven wrong over and
I've seen some economists and others stating that common sense dictates that we are headed for severe economic and social hardship, to the point of
major damage to infrastructure, civil society and general standards of living.
The one thing I hear over and over, and then see evidence of it happening, is civil unrest.
This will be a major factor in the future of our countries. I believe that this is extremely likely, to the point of being impossible to avoid. I am
certain that governments are preparing for it (New Orleans?) as they realize that this is one of the major influences in how bad things will be.
I've heard the rumor that the complete collapse of the $ will occur in the summer. That rallies and protests will likely turn violent in March. I've
heard it said that only one of the three major car manufacturers has a chance of survival, and that it will be Chrysler, chosen by the government to
take assets from the other two where possible.
But all of this depends on other factors. The timing of all of this is influenced by everything else.
But the main factor will be unemployment. If this continues to mount, there will be a point where tax income is not sufficient to run the economies of
states, unemployment services will have to be cut. Then what do people do?
Personally I accept what Peter Schiff (spelling?) has had to say; protectionism, while difficult in the short term, will be the better option. And I
think governments should be preparing for this.
Each nation needs to ensure that it can provide for their own people, without imports and exports.
This would provide new employment within each nation, the figures add up. You have ten million people who need food, so you need a good few million to
grow it, process it, transport it, sell it. Therefore employment should stabilize when you have this in the power, services and general infrastructure
But I don't think they'll do this until we've reached a point where our currencies are completely useless.