ECONOMIC COLLAPSE - IMMINENT?

in economic •  4 months ago

If you keep up to date with the economy, or if you just overhear financial news now and then, you might keep hearing the same phrase, over and over.

Since I pay attention to financial and economic news, I hear this phrase on a daily basis. And that phrase is...

"SINCE 2008"

So, you'll keep hearing statements, like: "We haven't seen numbers like this since 2008." Or, "... back at levels not seen since 2008."

If you had stock in 2008, you likely know, kind-of, what happened. Stocks went down and real estate values dropped. Significantly. I think we could legitimately say there was a collapse.

But then we had a recovery. It was a slow recovery, but we recovered and are back with high real estate and stock valuations.

But... and here's another "but..." We really didn't recover.

So what happened in 2008?

What did "they" do to fix the problems?

The answer is very complex and intertwining between financial institutions, the Federal Reserve, the fractional banking system, demographics, the status of the petrodollar, ungodly printing of money out of thin air, unimaginable borrowing, the detachment of our monetary system from "the gold standard" (Nixon, 1971), derivative risks, the oil and energy industry and much more. On top of that, throw in excessive greed, corruption, fraud and incompetence.

From my understanding, the economic system began failing a long time ago.

Like a rust-bucket, rattle-trap of a car, with loose wheels, worn tires, repairs made from bailing wire and duct tape, a radio antenna made from a wire coat hanger, parts falling off, a loose muffler dragging beneath the car with sparks flying and smoke emitting from beneath the hood - it might travel a good distance before it finally just breaks down and falls apart.

I think the 2008 "economic crisis" was the tremor before the earthquake. And now, like they say the San Andreas fault is OVERDUE for "the big one," the financial system may be also be overdue for "the big one," financially speaking .

Many people are trying to protect some percentage of their wealth by buying gold and silver, or holding cash. Bitcoin has hit record levels and many other cryptocurrencies are skyrocketing. I hear stories of countries, banks and institutions around the world, stockpiling gold. And there may be a number of new gold and silver backed cryptocurrencies coming out soon.

Since 2008, credit and debt are at record levels. Europe seems to be falling apart, and banks in Greece, Spain and Italy are failing. And Germany is not looking so good.

Venezuela is in collapse and they're going "Mad Max." Puerto Rico is bankrupt... and now the economies of Illinois and other US states are collapsing, as are pension funds from California to Boston.

We're in a "retail apocalypse" as thousands of stores and businesses are going bankrupt and closing down.

Everything seems to be currently propped up with debt, company stock buybacks, fake unemployment numbers and a false narrative of "we're in a recovery." Actually, we're not in a recovery. Its more like a coma.

The fact of the matter is, you can't have exponential growth forever, which is required to keep the system going. And may I be so bold to say - WE ARE TRAPPED IN, LIVING IN, AND WITNESSING THE BIGGEST PONZI SCHEME IN THE HISTORY OF THE WORLD.

And we will soon see what happens with it finally fails.

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