Have you EVER seen anything more stupifyingly shocking?
Since the US, in particular, came off the Gold Standard (thanks Trickie Dickie Nixon) the amount of debt, globally, has exploded.
You wonder why:
a) House prices are so high
b) As are the costs of living
c) Why oil costs so much
d) Why food costs so much
e) Why a car costs so much
f) Why transportation costs so much (… Have you ever bought a commuter ticket into London and said to the ticket seller "How Much?!!! I'll bet a lot of that goes on your pension?" No, I haven't either. Yet!)
g) Why governments, households and businesses have soooo much debt?
Now you know. Because the whole planet is in an ocean of debt. Of course, the ultra rich are not, as are the ultra prudent. Who do you think will win in the end?
Those in debt?
Well, as you see in the chart at http://www.peakprosperity.com/blog/83361/fed-can-only-fail (Chris Martenson's Peak Prosperity), the meagre small fall in global debt (chart 2) in 2008 did what it did to the global economy.
The sheer scale of debt is the problem as I continue to report.
What happens when borrowing rates rise, if they do?
There will be another crash. It will be much much bigger than 2008. That was merely the hors d'oeuvre. The next one will be the main course.
They 'saved the world'. HOW DARE THEY (Clown, Obama, Merkel and the rest of the Fascist Marxists?!!! (You think there's a practical difference to you and me?) How dare they say that? What they did was put us more and more in hock to banksters.
Did I say How Dare They?!!! (Is Graham Chapman reading this? Ah. Oh, right.)
The big picture is entirely unchanged and I guess I cannot repeat that enough.
The Too Big To Fail banks are even bigger and an even greater threat to global economic stability.
China has gone past its Day of Reckoning and, as far as we can see, is riding on Hot Air.
At some point the Federal Reserve will lose control of interest rates OR we are 'Japan' and rates are to tumble even further and the Depression will not be hidden any longer
Hence, we are in Depression already. It started with the great unravelling of 2007/08. It has a long long way to go.
In 1931 they did not know, then, they were in Depression. They soon did know.
Those who do not wish to see the big picture will be sorry and they are by far the majority.
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!" – Upton Sinclair (1878 –1968)
The bankers loaned the Governments and to the house and business buyers for decades. Then when there were problems of repayment the bankers advised the Governments to borrow vastly more. And the Governments took the advice.
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