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Corrupt Government Title: It’ll Be Unstoppable, the Speed of It Will Leave Most People Waking Up to the Danger After It Has Already Happened Well known investment adviser and forecaster Doug Casey of Casey Research recently joined International Speculator’s Louis James for an interview about the globe’s goings on. Mr. Casey discusses a variety of different topics, focusing first on the protests in Belarus and then shifting his thoughts to the coming financial and economic catastrophe that will engulf the majority of the world. Yesterday we suggested that Treasury Secretary Tim Geithner has confirmed what some already know: We’re Literally On the Brink of Catastrophic Collapse. Doug Casey tends to agree with our sentiment and provides some of his views on why a complete collapse is unstoppable, what we can expect once it happens and steps to take to protect yourself: Doug: You know I’ve been saying for years that the coming crash is going to be even worse than I think it’s going to be. The correction in 2008 was very scary, but minor by comparison. A warmup. Minor trembling in the ground, just before Krakatoa blows. That the world financial system will have to face a reckoning day has been pretty much a given since the U.S. took the dollar, the world’s reserve currency, off the gold standard. Since then, decades of profligacy, not just in the U.S., but all around the world, have distorted the global economy to the breaking point. It’s only lasted as long as it has because of the great increases to productivity the computer and other wealth-creating technologies have created, and the fact that many individuals still produce more than they consume and save the difference – even as governments have stepped up their efforts at wealth confiscation. I thought things might go over the edge in 1980, but I was early. I underestimated how much wealth there was left in the world for the politicians to plunder. But now, while there is more physical wealth in the world, in the form of factories, homes, powerful technologies, etc., there is also massively more debt. Governments – first-world governments, not just banana republics – are sliding towards default, and in the West most individuals have little or no savings. In the East, many have savings tied up in a deflating gargantuan real estate bubble. For all the reasons we’ve discussed in many different ways, the Greater Depression we’re sliding into is going to be catastrophic for the old world order. Uneconomic patterns of production and consumption are going to be liquidated – they have to be – and that’s going to smash a lot of people’s rice bowls. In today’s richest societies, people won’t be able to move back to the family farm the way they did in the 1930s; there’s no farm left in most families. There’s not even that much family left in many families – instead of extended families that care for their elders, who educate the young while the able-bodied adults work, we send our elderly to fade away in institutions and our young to be indoctrinated in other institutions, and we barely know what our brothers and sisters are doing, let alone our other relatives. What happens to the huge masses of such people when unemployment benefits can no longer be extended? Yes, “It can happen here,” and it’s going to. Maybe not this year, maybe not for several, but when the real crash gets underway, it’ll be unstoppable, and it will destroy the status quo with a speed that will leave most people still waking up to the danger after the harm has already been done. Louis: Sounds like a sci-fi horror film… Doug: I know, and it’s unsettling to sound the alarm. People dismiss you for being a Chicken Little. But the plain truth is that we’ve already gone beyond the point of no return. There is simply no way the U.S. government can pay all its obligations without defaulting or destroying the dollar – which is just a different kind of default. The same goes for a lot of other governments. There is no way out that does not force a lot of people to make painful adjustments. Louis: Are you talking blood in the streets or something more like a chapter 13 bankruptcy, where everything gets sold off to satisfy creditors? Do you see the world of Mad Max ahead, or are we all going to work for the Chinese? Doug: Both could happen, but I’m leaning toward the latter. I think most of the world’s wealth will still exist, but it will change hands. Better start learning Mandarin. You’ll need it to do business in the new world after the crash – or to get a job as a houseboy, working for those who do learn to do business in the world after the crash. Louis: How else do we prepare, besides learning Mandarin? Doug: You know my mantra: liquidate, consolidate, speculate, and create. To which I add and must emphasize again: diversify your political risk. I truly believe that increasingly desperate states will be the greatest risk to your wealth, going forward. The swelling masses of have-nots are going to turn their increasingly hungry eyes on the haves, and the politicians are going to pander to them – and these days, if you have any net worth at all, you’re a have. When the food riots start in New York, LA, London, Paris, etc., I want to be good and far away. Source: Lew Rockwell If things keep going in the direction they are, with more people dropping off of unemployment insurance benefits monthly, tens of thousands consistently being added to food stamp rolls, and jobs permanently disappearing across the country, then it is only a matter of time before we have riots in the streets. While the majority of Americans may not believe that it can happen here, one organization that is preparing a response for a cataclysmic meltdown is our very own US government, which is Actively War Gaming ‘Large Scale Economic Breakdown’ and ‘Civil Unrest’. For those with the ability to do so, get out of the city. If it were up to Doug Casey, he’d suggest getting out of the country altogether. While this is likely not possible for most of our readers for a variety of reasons, there are most certainly things you can do to blunt the impact of financial, economic, political and societal calamity. We continue to recommend that you diversify your available assets and get busy preppin’: [Poster note: The shills for big government will do ANYTHING to say "nothing to see here, move along..." An objective analysis of the current situation reveals inescapable conclusions. In other words, go56- and his equally idiotic "print more money" compatriots- can go pound sand.] Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Capitalist Eric (#0)
nice post, but if anyone still needs to be reminded than there is no hope for them at this point, Eric.
Clinton and Cuomo are the true bandits who lit the fuse to this economic crisis we're now in. All in the name of getting more minorities in houses: http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=12554
Frankly, I'm surprised that you would appreciate the article. After all, we've had some ugly discussions about this exact subject, and neither of us have come away satisfied with the results. However, that being said, I would much have preferred to be wrong, rather than have my suspicions (based on the overt corruption of our government, the Federal Reserve and "Helicopter Ben") to have my predictions actually come true. You have NO idea how much I wish I were wrong... (((((sigh))))) I can't help everyone, by posting these articles- and I'm okay with that. But, by continuing to post the information, maybe- just MAYBE- some of the readers may wake up, before it's too late. It is for this reason, that I keep posting the information. If they choose to ignore the storm-clouds (more like the hurricane blowing in), then I can't help them. But if I can get them to get off their asses, and at least look out the window, then they can decide for themselves, whether to go back to the Lazy-Boy and their boob-tube, or grab the kids and run for the basement. I've also provided the same information to family members, close friends, colleagues and neighbors (*especially* the neighbors, since we'll have to rely on each other for safety and security)... And while they pooh-poohed my observations as little as a year ago, the laughter has stopped... And they're starting to recognize the patterns I've been seeing. Those that argue the points- go56 among them- and think the nanny-government will save them, will suffer greatly. They suffer from normalcy bias- which is perfectly natural, and for which I can do nothing about... Unlike many on this site, I do put my money where my mouth is, as far as battening the hatches. I won't publicize my efforts and results, as I have intentionally made all my transactions in ways that... avoid undue paperwork.
In the end, the Party would announce that two and two made five, and you would have to believe it. It was inevitable that they should make that claim sooner or later: the logic of their position demanded it. ... The heresy of heresies was common sense. http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=16281&Disp=9#C9 SUMMARY: Socialists refuse to accept reality.
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