Marketwatch: We have let an unsustainable and crazy ‘doomsday cycle’ infiltrate our economic sys

The MW article is about 20 rules that will save the globe from the doomsday cycle in our economic system. However we can ignore the rules since they're not achievable. The basis for the article is more interesting, and addresses the continuing Global Meltdown. Below are some of the more salient quotes.

www.marketwatch.com...

By Paul B. Farrell, MarketWatch
SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, they predicted doomsday three years ago. Listen: “Over the last 30 years, we have built a financial system that threatens to topple our global economic order,” wrote Simon Johnson and Peter Boone. “We have let an unsustainable and crazy ‘doomsday cycle’ infiltrate our economic system.”

The MW commentary quotes Simon Johnson and Peter Boone, but is in agreement.

This doomsday “cycle will not run forever … The destructive power of the down cycle will overwhelm the restorative ability of the government, just like it did in 1929-31.” In 2008 “we came remarkably close to another Great Depression. Next time, we may not be so lucky.”
...
Folks, the “next time” is here. Our luck is running out. And unfortunately, our leaders in both parties are blinded by an obsession to win an election. Ergo, they will fail to act in time.

No one is going to address the Doomsday cycle built in until it's unfixable.

But we all know neither party will fix these core economic issues driving the Doomsday Cycle. Not this summer. Not after the elections. And we all know why. America’s leaders on both sides are so psychologically blinded by personal ambition they’ve lost all touch with reality, no longer see what’s best for all Americans.

Yes, “an unsustainable and crazy Doomsday Cycle has infiltrated our economic system,” Johnson and Boone wrote in their 2009 article in “CentrePiece,” a publication of the London School of Economics.

Worse, it’s been accelerating since 2008. And by failing to act in a timely way, politicians in both parties will let the “destructive power of the down cycle overwhelm the restorative ability of the government, just like it did in 1929-31, very much like a Second Great Depression.”

The cycle (Fed needing to add monetary flow to the system forever) is worse than 2008.

What’s ahead is “just like in 1929-31 … like a Second Great Depression.”

What comes is greater disparity between rich and poor, just like in the Great Depression, but in a global exploding population world.

Hide your kids, hide your wife, and hide your husbands too, cuz everyone going to get effected by this collapse.

My house is the house of prayer: but you have made it a den of thieves.

If you look at the system for what it is, the chains of economic enslavement which only grow shorter and shorter as more and more debt is accumulated, you would know that it is unsustainable.

The class structure starts out with enough distribution for the masses to agree to it's implementation, generally a pyramidal shape such as after the "reforms" of the Great Depression took full effect, with the help of WW 2 of course.

However, at the end of it's cycle, the class structure is more like an obelisk where those at the top are way at the top, and the base bears the enormous burden of supporting the whole damned thing.

There is much more than that of course, but the bottom line is this...

Usury is just that, Usury!

If you agree to be used, you will get used however the other party sees fit.

Mr. Farrell is a day late and we're all trillions of dollars short.

United States Congressional Record - March 17, 1993 - Vol. #33, page H-1303 - Speaker- Rep. James Traficant, Jr. (Ohio) addressing the House:
"Mr. Speaker, we are here now in chapter 11. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner's report that will lead to our demise."

Or we could go back a couple of more years to hear the same story:

During the great depression, Congressman Louis T. McFadden (who served twelve years as Chairman of the Committee on Banking and Currency) asked for congressional investigations of criminal conspiracy to establish the privately owned 'Federal Reserve System'. He requested impeachment of Federal officers who had violated oaths of office both in establishing and directing the Federal Reserve -- imploring Congress to investigate an incredible scope of overt criminal acts by the Federal Reserve Board and Federal Reserve Banks. McFadden even suggested that the Federal Reserve deliberately triggered the great stock market crash of 1929, in order to eventually force the passage of the Emergency Banking Act of March 9, 1933, which suspended the gold standard.

whatreallyhappened.com...

Nobody ever listens. If this had been addressed in the 1930s, or even in the 1990s we would be a whole lot better off now. Now its too late and the result will be a lot worse than what's going on in Greece.

It is crystal clear that the numbers are not adding up and the system is unsustainable, so it not a matter of if it all comes crashing down but when and how. While most in congress make up or are closely aligned with the 1% there will be a strong push to try and drag it out for as long as possible with the hope that something will come along to fix it. Without any visible resources being put into these problems and more so defending it is unlikely a responsible solution will be found. As for how I see things playing out after the next election.

Obama - Too busy playing computer games with his drones, market will self implode in a big crash and marshal law very likely.

Romney - Loves Israel, hates Russia and will push hard to further escalate WW3, no more people, no more economic problems.

Paul - Can actually acknowledge the problems so better chance in fixing them, market will still crash but be better managed with some light at the end of the tunnel.

Originally posted by DeathbecomesLife
The class structure starts out with enough distribution for the masses to agree to it's implementation, generally a pyramidal shape such as after the "reforms" of the Great Depression took full effect, with the help of WW 2 of course.

However, at the end of it's cycle, the class structure is more like an obelisk where those at the top are way at the top, and the base bears the enormous burden of supporting the whole damned thing.

While I may disagree with you on the usury issue (I believe interest rates are an important part of any monetary system and, in many ways, the nonchallant manner in which they have been recently handled is among the primary reason we're still spiraling after 2008's crash.), I have to tip my hat to you for one of the best, most articulate descriptions of what the class structure has become. I've never seen the pyramid to an obelisk comparison before, but man is it an excellent way to explain what is going on!

Originally posted by burdman30ott6
While I may disagree with you on the usury issue (I believe interest rates are an important part of any monetary system and, in many ways, the nonchallant manner in which they have been recently handled is among the primary reason we're still spiraling after 2008's crash.),

Do you really want to be drop kicked through the goal post of life?

Why do you disagree with what I say about usury?

Usury is paying money to someone to create money.

It is perpetual debt.

They create something you do not need, and make you believe you need it.

Throw the money lenders out!

In the meantime, we've codified an inability to liquidate debt outside of bankruptcy, and made bankruptcy itself so expensive that a lot of people CANNOT AFFORD TO GO BANKRUPT.

Debts that are unsecured GET secured if brought to court and a judgement is granted.

And the vulture debt buyers know this - be they vultures that feed on the little guys, or the vultures that feed on the sovereign debt, like Dart Management.

If the debt cannot be liquidated, it drags us down...for how long? Forever?
Are that many more homes lost because of it? That many more taxes owed?

reply to post by burdman30ott6


Obelisk the Tormentor is also one on the cards... Maybe it is just my dumb humour at times.

As for Usury, there is a problem with the inflationary pressure that it puts on the economy and as such it is untenable to achieve a stable economy with it.

Originally posted by DeathbecomesLife
They create something you do not need, and make you believe you need it.

How so?

First, before we get sidetracked too far here, are you referencing usury in the "excessive interest" sense, or usury in the "any interest" sense? I took your meaning as being the "any interest" sense of the term. Which is what I disagree with. I do feel that excessive interest should be outlawed. Rather, there should reach a point at which a lender is simply too high of a risk and should be told "No, no loans for you. Get your house in order."

Back to the above. How are you defining "need" here? I do not believe I need cash to have a roof over my head, eat 3 squares a day, drive out to the valley to fish, etc, etc, etc... it's simply a fact of life which I know to be true. I also am not arrogant enough to expect that I should be handed something gratis or at zero cost to myself. That includes a loan of money. The blame here, at least in my eyes, does not fall on the shoulders of the lenders. We've lost touch with personal responsibility. If you recieve an offer for a credit card with 30% APR, nobody is holding a gun to you head to sign up for the card. YOU have the abillity to rip the offer up and throw it away. Similarly, nobody is slapping shackles on people and dragging them into payday loan offices. At some point John Q Public is going to have to take responsibility for their own actions and stop trying to get the government to act like further nanny meddlers, enacting laws to protect the weak from what they find hard to resist.

Originally posted by burdman30ott6
We've lost touch with personal responsibility.

You have been duped into believing you are responsible. Are you responsible for being brought into this world? Are you responsible for being taken out of it? Are you responsible for the food you have received? Are you responsible for the water you drink?

All that you desire has been provided for you.

Money makes you think that money is the provider.

Thus you work for money, you live for money, give thanks that you have enough money, worry that you won't have enough money, and once it has put you into an early grave, the money stands victorious to tempt your own house to quarrel over it.

Originally posted by DeathbecomesLife

Originally posted by burdman30ott6
We've lost touch with personal responsibility.

You have been duped into believing you are responsible. Are you responsible for being brought into this world? Are you responsible for being taken out of it? Are you responsible for the food you have received? Are you responsible for the water you drink?

Huh? The first one, obviously... "no." That was kind of like a "Have you stopped beating your wife?" level question with no real right or wrong answer. The second one, yeah, I could very easily be. Not that I have any desire to be responsible for taking myself out, mind you. Your final two, hell yes I am responsible. I haven't "recieved" much food... I've grown, hunted, caught, and purchased quite a bit of it, however. I grew up drinking water from a well my dad drilled and am currently drinking water from a well somebody else dug.

The blame someone else shtick has been played to death... usually by desperate people who aren't being given what they want and lack the gumption to put in effort to earn it themselves.

Originally posted by burdman30ott6
Huh? The first one, obviously... "no." That was kind of like a "Have you stopped beating your wife?" level question with no real right or wrong answer. The second one, yeah, I could very easily be. Not that I have any desire to be responsible for taking myself out, mind you. Your final two, hell yes I am responsible. I haven't "recieved" much food... I've grown, hunted, caught, and purchased quite a bit of it, however. I grew up drinking water from a well my dad drilled and am currently drinking water from a well somebody else dug.

So you are responsible for the grains being their from which comes your bread? You are responsible for the water that is in the well which someone dug for you? You are responsible for the deer that crossed your path on the hunt?

You are responsible for the desires that drive you to these things?

You truly believe you are responsible for all these things being?

Originally posted by burdman30ott6
The blame someone else shtick has been played to death... usually by desperate people who aren't being given what they want and lack the gumption to put in effort to earn it themselves.

I haven't blamed anyone. I see it as giving credit where credit is due.

I look forward to a major collapse, economically
the smart will survive, thus thinning out the population of welfare sucking vacuums.
I think a good three months of no food and cash would be just about right to curb the masses
of overweight foodstamp leeches that spend their money on Nail and hair products

Such articles are often regarded as fear mongering. But I digress from this POV. I'm beginning to see them as desensitizing. How many times have we read articles like this now and beginning to just 'yawn' in response. Personally I do see full financial collapse and world government forming regardless of some of the apocalyptic sensationalism. But I'm noticing even with myself, that I'm starting to fall asleep at the wheel, and will probably be more surprised when it does actually happen, should the disruption come quickly and abruptly.

A couple of points in the article jump out at me.....

4. Population control must eventually become worldwide economic policy.

18. Rebirth of a powerful, new democratic United Nations.

20. Dawning of a new global era, the New No-Growth Economy: The long-term survival of all nations on Earth depends on a bold, radical new way of thinking. We have no choice: Cooperate, live in peace.

These are clear proposals for one world government and a reshaped political, economic and religious world order. The fulfilment of some major biblical prophecy is coming fast. The timeframe to realize doesn’t have to be tomorrow or next month. Several years is a very short period of time over two millennia.

The economy works fine with small to large businesses and exchange of goods, services and labor.

Mega corporations (including the shrinking number of ever bigger banks) do not focus on exchange of goods, services and labor, and instead are focused on M&A, globalism, politics and eliminating competitors.

Businesses are good neighbors, mega corporations are not.