sunshine05
7th November 2010, 07:11 AM
It’s Officially the Beginning of the End
Phoenix Capital Research's picture
Submitted by Phoenix Capital Research on 11/06/2010 18:34 -0500
More than two years ago, the day after we nationalized Fannie and Freddie, I penned an article in which I forecast the end of the US as an empire and the end of the US Dollar standard. Despite the fact that others had been calling for a collapse of the US for years, my piece still received a great deal of hostility and condemnation. The comments ranged from, “you’re out of your mind, the US will always be #1” to “I don’t like the bailouts either, but you’re taking it too far.”
Here we are, two years later, and to be honest, the stuff that has come to pass is simply mind-blowing. In plain terms, the US is now a country in which…
* EVERYONE knows that the Wall Street banks KNOWINGLY engaged in fraud (Citibank executives confirmed this under oath), predatory lending, and other felonies and NOT ONE executive has been charged with a criminal act.
* There is clear evidence that elements of the Financial Crisis were intentionally induced by key players in order to wipe out their competitors (you know who I’m talking about).
* The head of our central bank has LIED under oath about monetizing the debt (among other things)… and walks free.
* Our Secretary of the Treasury KNOWINGLY chose to hand out as much public money to Wall Street in exchange for what he and everyone else knew were worthless garbage assets. Again, no charges.
* Our President increased troop levels for wars EVERYONE knows were started under false pretences (and continued policies of torture!?!?!) and WON the Nobel Peace Prize
Let’s face it… if an alien came down from outer space and compared the US to other countries, it’d think we were just another 3rd world country that somehow managed to get bigger than the others. We’ve got the same levels of corruption, fraud, and lies, combined with the same looting, indebtedness, and crumbling infrastructure.
In plain terms, this is the beginning of the end. When an entire country’s economy is based on imaginary math, accounting gimmicks, and ideas that don’t even make sense on paper (let alone in reality) you know that economy will collapse.
Look at the reaction to QE 2. Even the most bullish idiot knows deep down that nothing good will come out of it. QE 1 failed. QE 2 will as well. Not one person has a single doubt about this. Sure, they might smile and say it’s great on TV (or in their op-ed columns) because their job or political pressure requires them to do so, however, their eyes tell the whole story. Not one of them looks confident or composed… they all look exhausted, strung out, and terrified. They should be, they know what’s at stake (EVERYTHING).
Enjoy this last little burst of enthusiasm while it lasts. The end game has begun. There’s a reason it’s called “extend and pretend,” it’s because it doesn’t STOP what’s coming… it only pushes it back a while.
http://www.zerohedge.com/article/it%E2%80%99s-officially-beginning-end-0
Phoenix Capital Research's picture
Submitted by Phoenix Capital Research on 11/06/2010 18:34 -0500
More than two years ago, the day after we nationalized Fannie and Freddie, I penned an article in which I forecast the end of the US as an empire and the end of the US Dollar standard. Despite the fact that others had been calling for a collapse of the US for years, my piece still received a great deal of hostility and condemnation. The comments ranged from, “you’re out of your mind, the US will always be #1” to “I don’t like the bailouts either, but you’re taking it too far.”
Here we are, two years later, and to be honest, the stuff that has come to pass is simply mind-blowing. In plain terms, the US is now a country in which…
* EVERYONE knows that the Wall Street banks KNOWINGLY engaged in fraud (Citibank executives confirmed this under oath), predatory lending, and other felonies and NOT ONE executive has been charged with a criminal act.
* There is clear evidence that elements of the Financial Crisis were intentionally induced by key players in order to wipe out their competitors (you know who I’m talking about).
* The head of our central bank has LIED under oath about monetizing the debt (among other things)… and walks free.
* Our Secretary of the Treasury KNOWINGLY chose to hand out as much public money to Wall Street in exchange for what he and everyone else knew were worthless garbage assets. Again, no charges.
* Our President increased troop levels for wars EVERYONE knows were started under false pretences (and continued policies of torture!?!?!) and WON the Nobel Peace Prize
Let’s face it… if an alien came down from outer space and compared the US to other countries, it’d think we were just another 3rd world country that somehow managed to get bigger than the others. We’ve got the same levels of corruption, fraud, and lies, combined with the same looting, indebtedness, and crumbling infrastructure.
In plain terms, this is the beginning of the end. When an entire country’s economy is based on imaginary math, accounting gimmicks, and ideas that don’t even make sense on paper (let alone in reality) you know that economy will collapse.
Look at the reaction to QE 2. Even the most bullish idiot knows deep down that nothing good will come out of it. QE 1 failed. QE 2 will as well. Not one person has a single doubt about this. Sure, they might smile and say it’s great on TV (or in their op-ed columns) because their job or political pressure requires them to do so, however, their eyes tell the whole story. Not one of them looks confident or composed… they all look exhausted, strung out, and terrified. They should be, they know what’s at stake (EVERYTHING).
Enjoy this last little burst of enthusiasm while it lasts. The end game has begun. There’s a reason it’s called “extend and pretend,” it’s because it doesn’t STOP what’s coming… it only pushes it back a while.
http://www.zerohedge.com/article/it%E2%80%99s-officially-beginning-end-0