Stagflation Ahead

Things to watch out for (now happening, previously predicted here):

Nationalization (fascism) of troubled institutions;

Stagflation as huge sums of money are injected again and again into the system;

Trillions more useless dollars lost in the days, weeks and months ahead;

Massive levels of homelessness;

Serious signs of collapse accelerating;

Severe shortages of critical resources;

Increased levels of police-state surveillance and targeting of individuals and companies;

You should read the following: James Kunstler:

This is the kind of fiasco that brings down governments, propels societies into revolutions, and starts wars. In a few months, America will be full of angry economic losers. We’re not the same nation that crowded around the old radio consoles for Franklin Roosevelt’s fireside chats. Back then, we were mostly a highly-disciplined, regimented, industrial society full of citizens who mostly did what they were told to do, and mostly trusted in authority. Today we’re a nation of tattooed barbarian “consumers” with no impulse control, a swollen sense of entitlement, ruled by a set of authorities ranging from one G.W. Bush to the grifter-billionaire pantheon of Wall Street CEOs — now heading into secret bunkers with their stashes of krugerrands, freeze-dried veal Milanese, and private security squads armed with XM-8 carbines.

Personally, I think all the rejiggering in the world of numbers and indexes will not solve anything, and really only represents a kind obsessive-compulsive neurosis related to numerology that will do nothing to readjust our daily activities toward the production of things that have real and enduring value.

Steve Lendman

Ordinary people are hit hardest. Millions will suffer grievously for years as a result of this totally avoidable crisis. Fraudsters who caused it are rewarded. Innocent homeowners, households, and workers are punished. Mercilessly. The result:

— trillions of dollars lost; likely trillions more ahead;

— millions of lost homes, homeowners behind in their payments, or threatened with foreclosure in the worst housing crisis since the Great Depression; ultimately may exceed it given current estimates of up to 10 million foreclosures before stability and recovery;

— likely well over a million 2008 personal bankruptcies and much higher numbers in 2009 compared to 800,000 in 2007 and 573,000 in 2006; figures below the 2000 – 2005 1.5 million average before passage of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act; according to Samuel Gerdano, American Bankruptcy Institute director, consumer over-indebtedness “made worse by the home mortgage crisis” is the problem; it won’t likely recede in the near or intermediate-term;

— rising unemployment; not the spurious 6.1%; including discouraged workers and people working part-time who want (but can’t find) full-time jobs, economist John Williams puts the real figure above 12% and rising;

— consumer over-indebtedness; maxed out on credit but needing more of it to survive; and charged usurious rates to get it;

— declining wages and benefits in the face of soaring expenses; making it all the harder to cope;

— food banks and homeless shelters facing increasing demands but forced to turn away people for lack of resources; and

— things overall are worsening; to the edge of the abyss according to some; even the most optimistic fear what’s coming; who can know; no one dares be complacent.

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