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America 2018: Dicier By The Day

General Ideas

Scrape all this putrid excrescence off and we’re left with a non-fantasy reality: everything is getting dicier by the day.

If we look beneath the cheery chatter of the financial media and the tiresomely repetitive Russian collusion narrative (that’s unraveling as the Ministry of Propaganda’s machinations are exposed), we find that America in 2018 is dicier by the day.

The more you know about the actual functioning of critical subsystems, the keener your awareness of the system’s fragility, reliance on artifice and an unceasing flow of “free money.” Keynesian economics boils down to a very simple premise: a slowing or stagnant economy can be goosed by distributing plenty of “free money” which can be freely blown on either speculation or goods and services.

The “free money” (either created out of thin air or borrowed into existence at rates of interest so low that they’re less than zero when adjusted for inflation) dumped into speculation gooses assets higher, generating the “wealth effect” beloved by Keynesians, and the “free money” dumped into goods and services gooses consumption, tax revenues, hiring and so on.

The catch is “free money” is never actually free. Creating trillions out of thin air reduces the purchasing power of all existing currency, and pretty soon you’re following Venezuela into “our money has lost all its value” territory.

Borrow trillions into existence and at some point even ludicrously low rates of interest start piling up serious sums of interest due, and the system eventually collapses under the weight of defaults and interest payments that stripmine the economy’s productive capacity.

Every subsystem in America has compensated for structural stagnation and increasing friction by reducing redundancy and buffers. Have you noticed how many airline flights are now delayed by mechanical issues? Nobody keeps spare parts in stock, and servicing is now concentrated in a handful of hubs; there’s no spare aircraft or flight crews available. All the buffers and redundancy have been stripped out to lower costs and maintain profits, lest the management team be fired for missing a quarterly earning target.

If you think America’s healthcare system is functioning wonderfully, you need to hear some unvarnished, frank reports from nurses and doctors who are speaking off the record. Healthcare is increasingly fragile as physicians and nurses bail out by retiring early. A destructive feedback is taking hold in rural America and other under-served “markets”: chronic shortages of physicians and nurses overload the overworked frontline care providers, burning them out as the workloads becomes impossible to manage without leaving widening cracks in care and infrastructure.

As for education: virtually every school district is screaming for more money while its budget is increasingly devoted to soaring pension contributions. The same can be said for many public agencies and institutions. The unwelcome reality is there isn’t enough money in the Universe to fund all the pension obligations and increase funding to meet the demands for more of everything– unless you just create vast sums out of thin air, in which case you follow Venezuela down the monetary black hole to the point that 1 million units of central bank/government-issued “money” equals one loaf of bread.

Public services are stripmined to meet pension obligations, and this zero-sum reality will only become more apparent as the excesses of speculation, debt, malinvestment and asset bubbles decay into the inevitable business-cycle recession–a recession that will be made worse by the issuance of more “free money,” as the increasing reliance on the marginal speculator and borrower will hasten the avalanche of defaults and malinvestments that will bring down the entire house of cards.

As the tent cities of the homeless proliferate, cities and counties are finding their revenues are devoted to pension obligations, leaving less and less to education, filling potholes, addressing the homeless crisis, the opioid crisis, etc. When the “everything bubble” pops and assets crater, the impossibility of fulfilling promises made in “good times” will be apparent to all but those demanding “their fair share.”

About that “cheap abundant energy” provided by fracking: it’s only cheap if we overlook the $250 billion in losses racked up by the sector, and it’s only abundant if we ignore the rapid depletion of the majority of wells.

We’re supposed to take Facebook’s ease in brushing off its blatant exploitation of users’ data as proof all is well in social-media-land, but the reality is sobering: America’s devotion to Facebook is evidence of the populace’s desperate yearning for a connection, any connection, no matter how thin or artificial, to a sense of community in a society stripped of authentic community by the dominance of maximizing profit (Facebook, Amazon and Google’s raison d’etre) and centralized power.

This chart of total debt reveals the system’s profound fragility–a fragility the Powers That Be are trying to mask with a tsunami of artifice: the system is now so dependent on the heroin hit of “free money” that even the slightest pause in credit growth will collapse the entire global financial system. This is why central banks have created trillions out of thin air–TINA: there is no alternative:

Between the ceaseless Ministry of Propaganda hysteria, the childish fantasy of super-hero films (we’re gonna be saved by somebody, no effort on our own behalf required) and the disgorging of zero-credibility economic statistics, the distractions are 24/7. But scrape all this putrid excrescence off and we’re left with a non-fantasy reality: everything is getting dicier by the day.

*  *  *

OfTwoMinds blog



47 Comments on "America 2018: Dicier By The Day"

  1. Manila1 on Sun, 27th May 2018 7:17 pm 

    “Between the ceaseless Ministry of Propaganda hysteria, the childish fantasy of super-hero films (we’re gonna be saved by somebody, no effort on our own behalf required) and the disgorging of zero-credibility economic statistics, the distractions are 24/7. But scrape all this putrid excrescence off and we’re left with a non-fantasy reality: everything is getting dicier by the day.”

    The shit is getting ever closer to that fan…

    “Public services are stripmined to meet pension obligations, and this zero-sum reality will only become more apparent as the excesses of speculation, debt, malinvestment and asset bubbles decay into the inevitable business-cycle recession–a recession that will be made worse by the issuance of more “free money,” as the increasing reliance on the marginal speculator and borrower will hasten the avalanche of defaults and malinvestments that will bring down the entire house of cards.”

    3rd world America…

  2. Manila1 on Sun, 27th May 2018 7:27 pm 

    More “news”

    “There Are 101 Americans With Over $1 Million In Student Loans”
    “Top Restructuring Banker: “We’re All Feeling Like Where We Were Back In 2007″”
    “As Russia’s Gold Hoard Soars, Putin Warns “US Sanctions Hurt Trust In Dollar As Reserve Currency””
    “The End Of Stimulus? (And The Start Of The Crash?)”
    And on and on…

  3. onlooker on Sun, 27th May 2018 7:30 pm 

    Yep, sadly this article pinpoints the fault lines for THE GREAT ECONOMIC GLOBAL MELTDOWN

  4. Davy on Sun, 27th May 2018 7:36 pm 

    you have links 3rd world?

  5. Go Speed Racer on Sun, 27th May 2018 9:06 pm 

    Is America dicier by the day?

    It’s true. Cause the rich people are
    slicing & dicing the middle class.

  6. Cloggie on Mon, 28th May 2018 12:34 am 

    Here was a seldom English word I had to look up:

    Definities van dicey
    bijvoeglijk naamwoord

    unpredictable and potentially dangerous.
    the lot of a wanderer is always dicey
    synoniemen: risky, uncertain, unpredictable, touch-and-go, precarious, unsafe, dangerous, fraught…

    OK, sounds about right after picking up signals from this board over the past 6 years.

    America’s devotion to Facebook is evidence of the populace’s desperate yearning for a connection, any connection, no matter how thin or artificial, to a sense of community in a society stripped of authentic community by the dominance of maximizing profit (Facebook, Amazon and Google’s raison d’etre) and centralized power.

    And if you have a brain, you can go to peakoil.com 😉

    America is in the state it is in because it is experiencing a geopolitical transition, from the “exceptionalist nation” into a normal one. The PNAC website has been taken offline. America tries to live up to its old post-WW2 self-image but increasingly is unable to do so. In Eurasia two millennia old power centers are renewing and preparing themselves for a new more dominant role after the end of the “American Century”. And the Islamic world is about to shake off European/American colonialism for ever.

    The 20th century of globalist, materialist progressiveness, as promoted by the US and USSR, is slowly coming to an end. The new century will be one of reaction, identitarianism, even archaism, as witnessed by the rise if IS. Marx is mega-out, enter Samuel Huntington. The US will have to retreat from planetary pole position and deal with increasing tensions within, as a consequence of its immigration folly over the past 5 decades, in false anticipation of a world without borders and mixed populations, a world that is not going to happen. The US empire will follow exactly the example of the Soviet empire: it will rather suddenly collapse and the troops will go home, leaving an enormous power vacuum world-wide.

    If you want to burn a book, it should be this one:

    https://en.wikipedia.org/wiki/The_End_of_History_and_the_Last_Man

  7. Davy on Mon, 28th May 2018 5:00 am 

    “America is in the state it is in because it is experiencing a geopolitical transition, from the “exceptionalist nation” into a normal one.”
    The western world is in the state it is in because of affluence that leads to decaying values and morphing corruption. Limits are being reached with resulting tension. Europe is no different.

    “In Eurasia two millennia old power centers are renewing and preparing themselves for a new more dominant role after the end of the “American Century”.”
    The American century post European failure is ending and a multipolar world emerging as it should and as is expected. There is no renewing just a converging.

    “The 20th century of globalist, materialist progressiveness, as promoted by the US and USSR, is slowly coming to an end.”
    Same shit in China and Europe neder quit fantasizing

    “The new century will be one of reaction, identitarianism, even archaism”
    Nonsense, the world is very much multicultural now and has to be because of globalism. There is a reaction to immigration but that is problematic for Europe where demographic shift is so much entrenched. Mass immigration is a serious issue that must be addressed to avoid ethnic troubles. In today’s economy declining populations are a serious economic issue. Declining populations are actually a good thing if it can be managed but I am not sure it can be managed economically and still have what we have today. We need to reduce populations. It must happen so where it is happening it is a good thing but it creates new and different challenges.

    “The US will have to retreat from planetary pole position and deal with increasing tensions within, as a consequence of its immigration folly over the past 5 decades, in false anticipation of a world without borders and mixed populations, a world that is not going to happen.”
    The US has become less dominant but will continue to be a power pole. The tensions within have always been here. We have check valves that allow the tensions to bleed off unlike other places in Eurasia that are pressure cookers.

    “The US empire will follow exactly the example of the Soviet empire: it will rather suddenly collapse and the troops will go home, leaving an enormous power vacuum world-wide.”
    In your fantasy world, neder. The US is not the USSR and the world the US inhabits now is not the world the USSR inhabited. History does not repeat itself although it rhymes.

  8. MASTERMIND on Mon, 28th May 2018 6:20 am 

    Illegal immigrant dubbed ‘Parisian spiderman’ granted honorary French citizenship

    https://www.rt.com/news/427992-france-spiderman-immigrant-citzenship/

    Good thing he was their..Peckerwoods are too fat and obese to climb anything anymore..That is why their race is being destroyed..Woman don’t want to breed with tub o lards..

  9. Manila1 on Mon, 28th May 2018 6:35 am 

    The Us is going down. The pain, that Americans will experience, will be much more exquisite (extreme or intense) than for any other place in the world. An ‘exceptionalism’ for the ‘indispensable’ nation and well deserved.

    That pain has already begun. Headlines announcing the drug epidemic, ballooning suicide rates, failing retirement systems, collapsing infrastructure, corruption from bottom to top everywhere, the ‘Snowflake’ generation, etc., point out the collapse daily. It is only a matter of time.

  10. Norman Pagett on Mon, 28th May 2018 6:36 am 

    the ultimate problem for the USA is denial.

    which is a perfectly normal response to unpleasant truth—we are all guilty of that, one way or another.

    But of course, in the case of the USA the denial is already manifesting itself in conflict, by wars which are essentially a grab for diminishing global resources

    all wars are over resources, and all resources are finite,—but the vast majority prefer the politics of denial that makes them infinite.

    and as resource availability declines (in particular oil) so inevitably these conflicts will turn inwards, as the “American way of life” (supposedly non-negotiable) becomes unsustainable. even in the face of increasingly volatile denial

    the surpluses of the era of cheap energy have gone, leaving 44million people on food aid and promises, while the remnants of the nation’s wealth are absorbed into ostentation by an elite

    the illusion of infinite prosperity can only be sustained by borrowing from our future, ie–by the assumption that the next generation will have access to sufficient energy to repay the debts being incurred now.

    they won’t of course.

    instead they will face energy poverty, which will mean every other kind of poverty and privation which will be beyond their understanding. (but not their demanding)
    “More” of everything has been the promise. All hell is going to break loose when “More” ceases to arrive.

    The book “The End of More” (Pagett Amazon) explains in more detail why there’s no more to be had

    The American nation will begin to devour itself in the name of infinite consumption and conflicts will become internal rather than external, as each faction determines to prove the righteousness of itself

    Breakup is inevitable

    Welcome to the dis-United States of America

  11. Manila1 on Mon, 28th May 2018 6:38 am 

    Norman, we seem to share the same view of America and its future. Well said.

  12. MASTERMIND on Mon, 28th May 2018 6:41 am 

    Madkat

    The world economy is like a sewer..and all pipes lead through New York..Out of the top 500 most powerful companies..125 are in America..When the US collapses. The entire global economy will as well..You base your arguments on faith and I base mine on evidence (reason)..you are so dumb you think you can prepare for the collapse of civilization..Without a prosperous society and the rule of law in place..you are dead meat..there are some things in life you can’t prepare for..this is one of those things.

  13. Davy on Mon, 28th May 2018 6:50 am 

    “The Us is going down.”
    When 3rd world, you have been shouting this at the top of your lungs for years now. More likely the world will go down and your Asia first from overpopulation pressures. Your days are numbered 3rd world

    “The pain, that Americans will experience, will be much more exquisite (extreme or intense) than for any other place in the world. An ‘exceptionalism’ for the ‘indispensable’ nation and well deserved.”
    You are a pathetic old man with personal emotional issues. You lust for pain and suffering upon the US because of your failed US life. You ran off to the P’s because you had to get away from the failure you cannot face.

    “That pain has already begun. Headlines announcing the drug epidemic, ballooning suicide rates, failing retirement systems, collapsing infrastructure, corruption from bottom to top everywhere, the ‘Snowflake’ generation, etc., point out the collapse daily. It is only a matter of time.”
    Yawn, happing everywhere dummy, open your eyes.

  14. pat on Mon, 28th May 2018 6:56 am 

    MM
    the most practical assessments seen so far with hard facts. But MM dont you think, those who are prepared and in good group have chance to survive longer.

  15. Davy on Mon, 28th May 2018 7:01 am 

    “the ultimate problem for the USA is denial.”
    Norman, the denial is everywhere and it is called human.

    “But of course, in the case of the USA the denial is already manifesting itself in conflict, by wars which are essentially a grab for diminishing global resources”
    Wars are for a number of reasons not only diminishing global resources. Power is the principal behind most wars resources second.

    “and as resource availability declines (in particular oil) so inevitably these conflicts will turn inwards, as the “American way of life” (supposedly non-negotiable) becomes unsustainable. even in the face of increasingly volatile denial”
    The European way of life is even more unsustainable considering the overpopulation there and much less resources. The American way of life is in decline but so is life everywhere.

    “leaving 44million people on food aid and promises, while the remnants of the nation’s wealth are absorbed into ostentation by an elite”
    Food aid is pretty small Norman. You guys think these people survive on this food aid but few of you have experienced it. I know people on this aid.

    “The American nation will begin to devour itself in the name of infinite consumption and conflicts will become internal rather than external, as each faction determines to prove the righteousness of itself Breakup is inevitable Welcome to the dis-United States of America”
    Sure Norman, you don’t see this elsewhere?

    Where are you from Norman?

  16. Davy on Mon, 28th May 2018 7:02 am 

    “Norman, we seem to share the same view of America and its future. Well said.”

    ….of course you do 3rd world, you both are blind and in denial of the big picture.

  17. Manila1 on Mon, 28th May 2018 8:33 am 

    “Yawn, happing everywhere dummy, open your eyes.”

    No, Davy, it is NOT happening everywhere. Maybe, to some extent, in the UK and Australia, but not ‘everywhere’. You want it to be, but that is not reality. It is your ‘exceptional’ delusionalist view of the world.

    No other country has terrorists killing school children. None. It is now a weekly event in America.

    No other country has ‘snowflakes’ pulling down statues because they are ‘offended’.

    No other country has such massive levels of debt in all areas: personal, government and corporate.

    And on and on. The Us is going to suffer at levels never seen in history.

  18. MASTERMIND on Mon, 28th May 2018 9:02 am 

    Madkat

    I have a question for you..what year were you born in?

  19. MASTERMIND on Mon, 28th May 2018 9:06 am 

    pat

    Even if you are in a group..you will still be outnumbered by the unprepared by a thousand to one..And they can form their own groups very quickly when the time comes..And when society collapses you will be the easy targets..

  20. Davy on Mon, 28th May 2018 9:36 am 

    ‘No, Davy, it is NOT happening everywhere. Maybe, to some extent, in the UK and Australia, but not ‘everywhere’. You want it to be, but that is not reality. It is your ‘exceptional’ delusionalist view of the world.”
    More economic and cultural illiteracy from the board fruit cake.

    “No other country has terrorists killing school children. None. It is now a weekly event in America.”
    Exaggerations 3rd world

    “No other country has ‘snowflakes’ pulling down statues because they are ‘offended’.”
    More exaggerations fruit cake

    “No other country has such massive levels of debt in all areas: personal, government and corporate.”
    Now that is a lie

    “And on and on. The Us is going to suffer at levels never seen in history.”
    The lies and distortions are on and on.

  21. JuanP on Mon, 28th May 2018 10:23 am 

    Dicier by the day? Yes! And it is not just the USA, the problem is universal. It is happening in Uruguay, too. Uruguayans are losing their traditional civility and good manners. I plead guilty myself! Violent crime in Uruguay is getting worse.

    This is only the beginning. We are still consuming, basically, more resources than ever. The economic contraction hasn’t even started yet! We will be at each other’s throats when increasing scarcity sets in. There’s going to be a lot of weeding involved.

  22. onlooker on Mon, 28th May 2018 10:27 am 

    “the ultimate problem for the USA is denial.”
    Norman, the denial is everywhere and it is called human.—
    Yes, that is why China and India the 2 most populated countries in the world by far, chose the modern lifestyle and Economy. Or does anyone think it was coincidence. The modern Economic structure does not permit systemic large dysfunctions as it is intertwined and connected such that a major disruption or outage ie. US going down will sink the entire modern industrial capitalistic global matrix.

  23. GregT on Mon, 28th May 2018 11:08 am 

    “The modern Economic structure does not permit systemic large dysfunctions as it is intertwined and connected such that a major disruption or outage ie. US going down will sink the entire modern industrial capitalistic global matrix.”

    And if the modern industrial capitalistic global matrix doesn’t go down, humanity faces extinction.

    From my back deck this morning, I count 14 dead and dying 70-80 year old cedar trees, due to lack of precipitation. Last year at this time the forest floor was flooded in three feet of water.

    Quite the predicament that humanity faces, and in no way made less dire by continuing to add another 86 million mouths to feed with each and every passing year.

    Enjoy the ride, because at some point, the wheels are coming off of the track. Likely much sooner than later.

  24. onlooker on Mon, 28th May 2018 11:13 am 

    Yep, Greg. Oh and hope this summer does not bring those ferocious forest fires to your neck of the woods. I have heard it put this way. “We can have industrial civilization or a living planet, but we cannot have both” Well, we may have neither.

  25. GregT on Mon, 28th May 2018 11:33 am 

    Thanks onlooker,

    Fires are always a concern, but fortunately the west coast forests so far haven’t seen any considerable burns.

    The interior of BC however, is one humongous stand of millions of hectares of dead trees, just waiting for the right conditions to ignite a firestorm of biblical proportions. Once these firestorms get started, they creat their own weather systems. High winds and lighting strikes, which only fuel the fires further. It’s not a matter of if, but a matter of when. Extremely troubling to think about.

  26. BobInget on Mon, 28th May 2018 11:49 am 

    Kevin Rector and Pamela WoodContact Reporters
    The Baltimore Sun

    Residents, merchants and officials in Ellicott City awoke Monday to examine the devastation wrought by floods that coursed through the historic mill town the night before — the second time in less than two years.

    Old Ellicott City’s Main Street remained blocked off Monday morning, as crews walked up and down the street inspecting buildings. Cars were planted upside down and on their sides in streams and along the road.

    http://www.baltimoresun.com/news/weather/bs-md-ho-ellicott-city-flood-monday-20180528-story.html

    Ellicott City is Not on Florida’s Panhandle.
    Get ready for hurricanes that keep pushing the H Season deeper into May and October.

    Defense of America’s costal region won’t be helped by an administration that puts out a hoax message on AGW. (to sell more coal, oil)

  27. Boat on Mon, 28th May 2018 1:56 pm 

    Clog

    Yes the US will become normal and drag the world with it. Just 100 years ago women did not vote and for sure transvesites were not looking for a third bathroom. Even you right leaning Hitler evil types will be tamed or like Sharia law types be droned. The fans of Trump will be discredited as the oceans rise.

  28. Cloggie on Mon, 28th May 2018 3:50 pm 

    “Even you right leaning Hitler evil types will be tamed or like Sharia law types be droned.”

    Yeah, like in Afghanistan, Iraq and Syria.lol

    Seriously boat, your country won’t exist anymore in a decade. Ethnic thingy. Nobody expected the USSR to collapse in 1981. A decade later it happened.

    https://www.amazon.com/Suicide-Superpower-Will-America-Survive/dp/0312579977/ref=sr_1_1

  29. MASTERMIND on Mon, 28th May 2018 3:58 pm 

    Clogg

    Stop posting links to Pat tub o lard neo con Buchanan..You are a fucking whack job..Paranoid…

  30. MASTERMIND on Mon, 28th May 2018 4:09 pm 

    Inside billionaires’ bunkers where richest plan to sit out apocalypse in luxurious ‘doomsday’ dugouts – with swimming pools, cinemas and wine vaults

    https://www.mirror.co.uk/news/world-news/inside-billionaires-bunkers-worlds-most-12612431

  31. MASTERMIND on Mon, 28th May 2018 4:21 pm 

    Many Americans are on the financial edge

    https://finance.yahoo.com/news/many-americans-financial-edge-160823783.html

  32. Wolfie52 on Mon, 28th May 2018 8:21 pm 

    Exact same basement dwellers as the other post I just checked….stop arguing with each other about what is not going to happen. I know, we are are going to burn are be flooded away.

    And no one mentions that the very 1st sentence of this moronic article is demonstrably false. Collusion has been PROVEN and DID happen. Yes, it did… You may argue that Trump shouldn’t be charged, but the interference DID happen!

    If you weren’t in mom’s basement you would seen this falsehood right away and then the rest of the story becomes SUSPECT.

    What a bunch of snowflakes…

  33. Stephen on Tue, 29th May 2018 10:44 am 

    I think the USA is going to have to make some tough decisions. Personally I think that we may have to make some decisions in which every debt will not be paid and we need to remove the consequence of losing everything you own to survive this, perhaps with a Jubilee or perhaps not taking away debtors assets for a default and not notifying the credit agencies when this happens.

    Ito survive I think it is going to take a path of letting many debts die, having forums to decide what we keep and what society wants to leave behind given the energy budget and resources budgets we have, and to realize that war is not energy profitable. We also need to invest in as much renewable energy we have with the resources left.

    It will also take a massive toll education campaign on what Life will be like and the new skills people will need to survive and get those ingrained into the curriculum of our schools and colleges, and do so fast!

    Lastly we need to give people other than investment bankers and real estate developers serious seats at policy bargaining tables and to let the policy makers and political platform writers adapt their platforms for survival mode when negative growth is going to be the norm.

  34. Manila1 on Tue, 29th May 2018 11:05 am 

    Stephen, what should be done and what will be done are light years apart. America is not going to change until forced, by the collapse, to act. Then, it will be too late. I do not want to be in the Us when that happens. Chaos will not begin to describe what will take place. Such an event has never happened in history. Certainly not on the multi-trillion dollar scale.

    Best position, in my thinking: zero debt/loans of any kind. Ownership of your home free and clear of any liens/loans/mortgage. Some gold and silver coins (small denomination), etc. Cash in hand.

  35. MASTERMIND on Tue, 29th May 2018 11:25 am 

    I dont blame my baby boomer parents for the collapse. They’re just brainwashed. Old peope seem to have completely bought into propaganda. They just repeat things from cable news verbatim without thinking.

  36. MASTERMIND on Tue, 29th May 2018 11:28 am 

    Madkat

    Actually the banks are going to collapse..So I would argue you should load up on as much debt as possible..personally I spent through over 27k the last three years in my savings..I still have some more but I knew it was pointless to have so much when it will be worthless later..

  37. Davy on Tue, 29th May 2018 11:50 am 

    “Personally I think that we may have to make some decisions in which every debt will not be paid and we need to remove the consequence of losing everything you own to survive this, perhaps with a Jubilee or perhaps not taking away debtors assets for a default and not notifying the credit agencies when this happens.”

    The central banks and national governments have been quietly doing this since the 08 crisis. It is called extend and pretend. This was especially evident with the heavy handed action immediately after the 08 crisis. In the future it may be that the debt problem is so large it cannot be extended and pretended. It will be interesting how a debt jubilee will proceed. How big of a haircut will asset classes get? How about the little guy? If you throw enough little guys out of their home you end up with a serious problem. Is a debt jubilee even possible? Is a partial one possible? I wonder if TPTB already have plans drawn up. We know debt levels are unmanageable over time we are just not at the expiration date yet.

  38. Davy on Tue, 29th May 2018 11:59 am 

    “Best position, in my thinking: zero debt/loans of any kind.”
    That is so simpleton. A smart and successful person knows how to utilize debt both short term and long term. If you have good income and other investments then debt is a useful tool. Zero debt mentality is usually pushed by people that have no money so yea, you better stay out of debt and live with cash purchases.

    “Ownership of your home free and clear of any liens/loans/mortgage.”
    This is just rubbish. Home ownership with debt depends on your age group. One of the best ways to build up a nest egg is home ownership. The smart part is pricking an appropriate mortgage and a home that fits not pushing home ownership without debt. How would younger people ever get in a home?

    “Some gold and silver coins (small denomination), etc. Cash in hand.”
    Yea, OK, as a good prep strategy but stupid if you want all your financial eggs in one basket. Cash and precious metals don’t earn a return. Gold is good insurance but there has not been a very good return on gold recently. Only being cash means you are seeing your cash being eaten away without earning potential. Cash can be burned, lost, or stolen. The same with gold it can be stolen or lost.

  39. Manila1 on Tue, 29th May 2018 12:08 pm 

    Mm, bet anyway you want, but debts will NOT be forgiven. The banks will still operate on some level. The “collapse” will not happen overnight. It is already happening. Foreclosures, bankruptcies and repos will just increase. Those not prepared will lose everything. If you have a mortgage the bank owns your house. If you have a car loan, the banks own your car. Do you really think they will “forgive” those loans? Not likely!

    BTW: it took three years for the stock market to hit bottom in the market crash of 1929.

  40. MASTERMIND on Tue, 29th May 2018 12:09 pm 

    There is no possible way to prepare for a social collapse of global civilization..this is like driving your car off of a cliff..it doesnt matter of you have on clean underwear and sandwiches in a cooler..You are going to die..Anyone who thinks they can survive without an economy and rule of law in place..are deluding themselves and are only preparing for a last stand..and the keyword is last..

  41. MASTERMIND on Tue, 29th May 2018 12:11 pm 

    Madat

    The collapse will be a global econonic collapse..per limits to growth study..That means every corporation, bank, currency, social program, government, going bankrupt at once. and it will be fast, because collapse are rapid..think world trade centers..And it will happen at the speed of technology.

  42. Manila1 on Tue, 29th May 2018 12:12 pm 

    Davy, you are full of bullshit as usual. You like to read into any comment exactly what you want to see, not what was said. I could say the sun will come up tomorrow and you would disagree with it because I said it. I am sure the psychiatrists have a name for that mental condition. Maybe you can ask them when they take you away?

  43. Davy on Tue, 29th May 2018 12:16 pm 

    “Mm, bet anyway you want, but debts will NOT be forgiven. “
    You have no clue what is coming 3rd world. If we look at the past this might be true but what is ahead will be anything but normal so saying “NOT” is just your emotional postion.

    “The banks will still operate on some level. “
    Maybe or maybe not. Who knows 3rd world. These things are beyond knowing and merely speculation.

    The “collapse” will not happen overnight. It is already happening.
    Yea, it is a process but that process has not gone past a break point yet. We may be close but it is difficult to say where that point is and how many years out.

    “Foreclosures, bankruptcies and repos will just increase. Those not prepared will lose everything.”
    Who know 3rd world. You surely don’t know if that will be the case in the worst case scenario. 3rd world you are again saying what you want to happen based upon your position. This will make you look good and others bad. This is how you operate often

  44. Davy on Tue, 29th May 2018 12:18 pm 

    “Davy, you are full of bullshit as usual. You like to read into any comment exactly what you want to see, not what was said.”

    Translation: I hate being neutered by Davy

  45. MASTERMIND on Tue, 29th May 2018 12:31 pm 

    Art Berman: Think Oil Is Getting Expensive? You Ain’t Seen Nothing Yet.

    The price of oil has gone up 30%+ percent just here in the last year alone. There are some very good reasons for that.

    In the United States, we’ve been drawing down our reserves, our inventory and the amount of oil we have in storage, consistently since February of 2017. We’re going into the 15th month of drawing from storage each week because we’re not producing enough to meet the need.

    To those paying attention: the United States is right now producing more oil than it ever has in its history. We are a million barrels a day higher than the peak in 1970 — the one that King Hubbert got in trouble for warning about. We’re higher by 50,000 or so barrels per month of production. Yet, here we are, still sucking oil out of storage. What does that tell you? There is only one way to interpret that: We are using more than we are producing.

    Countries like the United States and western Europe; our demand is pretty much stable. We are not a big growing economy anymore. But the emerging markets – Asia, Latin America, and Africa – they are going full bore. That is where something like 80% of world demand growth is coming from.

    Never ever lose sight of the fact that the United States imports a ton of oil. I mean we are importing, on average, 7 million barrels of crude oil a day. I mean that is more than many continents use a day. Why are we importing all that when we are also producing 11 million barrels a day?

    We are nowhere near energy self-sufficiency, nor do I think we will ever get there.

    We’re in deep trouble.

    https://www.peakprosperity.com/podcast/114066/art-berman-think-oil-getting-expensive-aint-seen-nothing-yet?utm_source=dlvr.it&utm_medium=facebook

  46. ....... on Wed, 30th May 2018 12:37 am 

    The biggest piece of shit on this shit site is MM. But I’m happy that your lord is granting you a slow and tedious death every day.

  47. MASTERMIND on Wed, 30th May 2018 12:43 am 

    …….

    Does the psych ward know you smuggled in a mobile phone?

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