By Michael at TheEconomicCollapse Blog, May 21st, 2013
What is going to happen when the greatest economic bubble in the history of the world pops? The mainstream media never talks about that. They are much too busy covering the latest dogfights in Washington and what Justin Bieber has been up to. And most Americans seem to think that if the Dow keeps setting new all-time highs that everything must be okay. Sadly, that is not the case at all. Right now, the U.S. economy is exhibiting all of the classic symptoms of a bubble economy. You can see this when you step back and take a longer-term view of things. Over the past decade, we have added more than 10 trillion dollars to the national debt. But most Americans have shown very little concern as the balance on our national credit card has soared from 6 trillion dollars to nearly 17 trillion dollars. Meanwhile, Wall Street has been transformed into the biggest casino on the planet, and much of the new money that the Federal Reserve has been recklessly printing up has gone into stocks. But the Dow does not keep setting new records because the underlying economic fundamentals are good. Rather, the reckless euphoria that we are seeing in the financial markets right now reminds me very much of 1929. Margin debt is absolutely soaring, and every time that happens a crash rapidly follows. But this time when a crash happens it could very well be unlike anything that we have ever seen before. The top 25 U.S. banks have more than 212 trillion dollars of exposure to derivatives combined, and when that house of cards comes crashing down there is no way that anyone will be able to prop it back up. After all, U.S. GDP for an entire year is only a bit more than 15 trillion dollars.
But most Americans are only focused on the short-term because the mainstream media is only focused on the short-term. Things are good this week and things were good last week, so there is nothing to worry about, right?
Unfortunately, economic reality is not going to change even if all of us try to ignore it. Those that are willing to take an honest look at what is coming down the road are very troubled.
Article copyrighted and thus truncated, but there’s MORE worth reading…
If you think otherwise or agree, feel free to comment. We ask that you consider THIS:
How does all this huge mess get foisted upon you? You are RULED by what we call GOVERNMENT. Did you give consent for piles of Debt?… You know that Debt was created by your Rulers, who CLAIM that YOU must pay it?… For making the Dollar a fiat ‘Federal Reserve Note’?… For creating this system of Force and giving your Rulers total control of “money” and central banking, which is a total monopoly despite that monopolies are forbidden by “laws”?… For a “justice system” owned and operated and enforced by GOVERNment – with YOUR money?… For “socialism” which can exist only by using the Force of GOVERNment to tax/steal YOUR money for Redistribution to anyone else?…
Do you have your own mind, or do you consent to let your Rulers think for you?
Government is nothing more than a very bad habit with full powers of Force and Control, yet you allow perhaps three percent of other humans to Rule You?
This economic black hole is before us only because You have abdicated your responsibility for yourself in the naive belief that somehow your Rulers are some special form of “human” while You are inconsequential and that even your Right to Life does not belong to you!
The only solution to this can come not from tilting each and every windmill day after day for eternity. Your “Rulers” make the “Laws” faster than you can tilt! Therefore the only sane response is to end governments, all governments. True Liberty is possible only with a Voluntary System, in which You decide all things which you deem necessary to the sole benefit of yourself, family, and KNOWN friends.
Liberty belongs to YOU — no Ruler owns Liberty to hand out willy-nilly to whomever he decides. So are you ready at last to insist that your sovereignty as a free individual is critical to your survival, your prosperity, and support the same for all humanity?
You can get there only by dissolving GOVERNments of Force, and only then can you Live Free.