"The Worst Is Yet to Come": If You're Not Petrified, You're Not Paying Attention

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SamLinder's picture
SamLinder
Status: Diamond Member (Offline)
Joined: Jul 10 2008
Posts: 1499
"The Worst Is Yet to Come": If You're Not Petrified, You're Not Paying Attention

<read entire story here>

There are few things from my childhood that I remember more vividly than grandmother's comments on this period of false recovery. "If we knew what was coming, we would have killed ourselves." This from as strong a person as I have ever encountered, with a faith that would break rocks. The Great Depression left an indelible mark, or better yet scar, on her entire family, and that of my father.

And I never heard the name "Franklin Roosevelt" from her lips without it being preceded by "God bless" followed by "he saved my family." Not all of it unfortunately, and she said she cried so much and so often that she was never able to cry again. And she did not, even at the end.

Of course it was the second half of the great stock decline after the 1929 Crash that did the most damage, because this is when the carnage moved from financial assets and the banks into the real economy, with unemployment rising to 25% into the trough of the Depression in 1930.

Roosevelt came into office and began spending and innovating to try to mitigate the impact on America's families. Other countries, such as Italy, German and Japan, made other choices. We need to bear in mind that America itself came perilously close to going down the road to a genuine brand fascism and not the cartoon caricature type of presidential overreach cited by the corporate elites of the day. Hitler and Mussolini were their men, and they bankrolled them heavily.

And so here we are. What comes next is anyone's guess. But by now you should be getting the general themes, including the devaluation of the dollar down to levels that are probably still not believable, an activist central government nationalizing key industries, civil unrest and agitation, and a confusing cacophony of hysterical mumbo jumbo coming from media whores.

The crisis is not over. We have just finished the easy part, the initial collapse of the bubble. The worst is yet to come.

<read entire story here>

FireJack's picture
FireJack
Status: Silver Member (Offline)
Joined: Feb 8 2009
Posts: 156
Re: "The Worst Is Yet to Come": If You're Not Petrified, ...

I don't think its a good idea to compare this to the depression because as far as I'm concerned "worse" won't even begin to describe it. The collapse of the financial systems is inevitable at this point but it won't stop there and that's what concerning me the most.

 

Everyone remember this article from the oil drum:
Where we are headed: Peak oil and the financial crisis

and this chart:

 

Be prepared to supply everything you need yourself very soon. Talk of the "bailout bubble" the commercial real estate collapse, credit card delinquencies, the alt-a option arm mortgage defaults coming, and the derivative bubble says to me financial collapse and the worse situation possible. Maybe someone can come up with a good reason why this isn't going to turn into a financial collapse, I would be happy.

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2259
Re: "The Worst Is Yet to Come": If You're Not Petrified, ...

Sam, that's a great article and Howard Davidowitz video!  Thanks for sharing!

Sometimes I really appreciate someone just coming out and talking to us like that!  I.e., "things are really, really bad, and they are going to get worse".  I guess it is because that's the way I'm thinking things are, how bad I fear they are.  But we get so much MSM muzac, you  sometimes wonder if your barings are off.  Seeing rantings like that come from Davidowitz actually make me feel a little better, like "whew!  Maybe what my instincs are telling me ISN'T  so far off and whacked after all!"  And if he's right, the video is like yet another much-needed cold splash of water to "wake up!" and "get yourself and your family as ready as you can, while you still can!"

SamLinder's picture
SamLinder
Status: Diamond Member (Offline)
Joined: Jul 10 2008
Posts: 1499
Re: "The Worst Is Yet to Come": If You're Not Petrified, ...

pinecarr,

I'm glad you appreciated it and the reality it conveyed. Like you, I wish the MSM and the president would just come out and tell us the reality, like Chris M. has done, and then let's work through it so we can move on with our lives.

The longer the truth is denied and the longer the inevitable is delayed, the worse it will be when it finally all comes crashing down!

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