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When This New Bubble Bursts, It's All Over

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posted on Sep, 6 2009 @ 10:46 PM

When This New Bubble Bursts, It's All Over

Before we crucify the bank MDs

“Our society is now based on consumption .. 70 per cent of the GDP. This is more than we produce. So to pay our bills, we use funny money invented in 1913 with the creation of the Federal Reserve and the fiat dollar based on credit (debt).. the fractional reserve system.

In 1930’s you bought what you could afford. You saved up to buy your home. The easy credit of the 90’s has destroyed the country. Now you borrow what you can’t afford .. and the nation’s done the same.”

“Phantom dollars, printed out of thin air, backed by nothing … and producing next to nothing … defines the ‘Bailout Bubble.’ Just as with the other bubbles, so too will this one burst. But unlike Dot-com and Real Estate, when the “Bailout Bubble” pops, neither the President nor the Federal Reserve will have the fiscal fixes or monetary policies available to inflate another.” “This is much bigger than the Dot-com and Real Estate bubbles which hit speculators, investors and financiers the hardest. However destructive the effects of these busts on employment, savings and productivity, the Free Market Capitalist framework were left intact. But when the ‘Bailout Bubble’ explodes, the system goes with it.

The above are extracted statements made on the US and world economy by Gerald Celente, the head of the Trends Research Institute, a top trend-forecasting agency in the world.
More at Link...

Gerald Celente is once again "Spot On" concerning the impending Global/Fiscal Implosion...

As a Nation we now work our part time hours at McDonalds, and on payday go spend it at Burger King, (being as we're tired of Big Mac's at work...)... :shk:

The wealth of our "former" Country was built upon production of goods, with real worth...a Big Mac doesn't qualify IMHO...

Just passing what little money we have around from one "worthless" item to another is not real GDP...

Anything of real value we buy at this point is just adding to some other Countries in point..."Clash for Cluckers"...

But wait...there's more!!!

From Cars to Home Appliances...what's next???

...And this is all courtesy of our .Gov and our FUTURE earnings, as these "rebates" WILL have to be paid for SOMEHOW... :shk:

Opinions??? Anyone???

[edit on 9/6/2009 by Hx3_1963]

posted on Sep, 6 2009 @ 10:59 PM
Interesting. At some point we will have to repudiate the debt and start over. It won't be the first or the last time for this either.

posted on Sep, 6 2009 @ 11:02 PM
reply to post by airforce47

But in the past we never really started over.

Ever google "HJR-192"?

posted on Sep, 6 2009 @ 11:15 PM
I agree that the age of consumption is over and that the economy as we knew it will never return. In many ways I don't think this is a bad deal. The consumer lifestyle is artificial and based on crap. For example down the street from me there is a massive PetSmart a block away from a massive PetCo. What the hell is up with the retail world?

Since October and leaving my job I have cut my spending down significantly and it has not been a strain. A few things to try

Organizing tools so you know what you have rather than buying a second of something you use twice a year.

Same thing for clothes. Gave a ton away and now know what I have and think need vs. want

No more bottled water. Its a rip off. Buy a lemons and keep a pitcher of tap in the frig with lemons in it. Tastes better and its about 3% of the cost. You'll also get a bit of vitamin C!

Buy food every day for that day. Other than things you use over and over, buy food for the day. Many benefits with this one and it is a significant saver. First, you actually eat what you want rather than what is left over or going to go bad if you don't eat it. Keep track of how much you eat and buy that much. If I need 5 chicken breasts, I buy 5, even if there is a 10 pack where the price/breast is 25% lower. I have seen my food bill go down over 20% and the quality of our meals go up by doing this. We try to make it a game and see how close we can come to cooking exactly how much we need to eat. Pay attention to that too and you'll be surprised how much longer your food, like rice will last.

Have a garden. Tastes better, no chemicals and picked the day I eat them.

Now we're at the library, not in Borders. Better choices, it's cool, free and way better on the environment. In addition, if you take a book out and it sucks, you don't feel compelled to read it because you did not spend $8 on it.

bottom-line for me is that the end of this retail driven, commercialized society leads to a more simple and satisfying existance. This transition will be tough for society and there is going to be a lot of heartache, but when it is over we'll all be better off, IMO

posted on Sep, 6 2009 @ 11:22 PM
reply to post by dolphinfan

Excellent post!
And a great big thank you to HX3 1963 for the thread and help with my avatar!
This guy knows his stuff!
S & F!

[edit on 6-9-2009 by dodadoom]

posted on Sep, 6 2009 @ 11:32 PM
I'd like to just point out that this scenario could play out any day now or a few years from now, but, if something drastic isn't undertaken in the very near future, this WILL come to pass...

China is said to be considering defaulting on Commodities Futures that could put a BIG HIT on up to 6 International Banks...

Hong Kong has opened a Gold storage facility at it's Airport and has been recalling China/HK Gold...rumor is Germany has also been recalling theirs...

Other rumors say the Fed is buying back their auctions on the open markets due to lack of participation by Primary Dealers...

None of the a very encouraging sign going forward...

[edit on 9/6/2009 by Hx3_1963]

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