Some of these articles look interesting, but something about this fellow I do not like. I guess I do not like his smirky smile while he tells of our coming misery and destitution.
His philosophy is "from chaos comes opportunity" and he finds his fulfillment in finding how he can make money by selling gold and silver.

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Series of articles on John Rubino's site DollarCollapse.com

on what the USA financial future will look like.

https://www.dollarcollapse.com/welco...e-third-world/

Welcome To The Third World, Part 31: Cities And States Are Bankrupt Without A Bailout

by John Rubino ◆ August 11, 2020 Leave a Comment

Lacking monetary printing presses, US cities and states tend to behave more like normal economic entities than do most nations. That is, they’re always balanced on the knife-edge of insolvency as taxes fail to cover the […]
Welcome To The Third World, Part 30: California Burning In The Dark

by John Rubino ◆ October 28, 2019 10 Comments
Welcome To The Third World, Part 30: California Burning In The Dark

Venezuela has suffered through recurring power outages this year, as money for routine maintenance dries up and power plant employees flee the country (and, okay, as the US practices its cyberwar skills on a vulnerable target). […]
Welcome To The Third World, Part 29: Medieval Diseases “Flare”

by John Rubino ◆ March 28, 2019 9 Comments

A driving trip down the Pacific Coast normally involves prioritizing a long list of great views and spectacular hiking/biking trails to fit the allotted (never sufficient) time. But now there’s a new element to consider: Homelessness. […]
Welcome To The Third World, Part 28: The “Bottom Half” “Bolsters” The Economy By Going Into Debt

by John Rubino ◆ July 23, 2018 4 Comments

For maybe the best example of how financial trends are diverging at the opposite ends of the wealth spectrum, contrast the cash flowing into the accounts of the already-rich with the debt accumulating in the accounts […]
Welcome To The Third World, Part 27: Losing Faith In College

by John Rubino ◆ September 8, 2017 18 Comments
Welcome To The Third World, Part 27: Losing Faith In College

One of the hallmarks of a successful society is the widespread belief that education is a key to success. For that to be true there have to be 1) enough jobs farther up the food chain […]
Welcome To The Third World, Part 26: Illinois About To Default?

by John Rubino ◆ June 28, 2017 22 Comments
Welcome To The Third World, Part 26: Illinois About To Default?

The train wreck that is the state of Illinois has generated a lot of questions lately, including “Will its government ever pass a budget?”, “Will it ever pay its overdue bills?”, and “Is it possible for […]
Welcome To The Third World, Part 23: Whites Are Dying “Deaths Of Despair”

by John Rubino ◆ March 27, 2017 24 Comments
Welcome To The Third World, Part 23: Whites Are Dying “Deaths Of Despair”

“White privilege” is such a commonly accepted pillar of American society that it’s become material for comics. As Chris Rock tells his audience in h!”
Welcome to the Third World, Part 22: State Schools Scale Waaayyy Back

by John Rubino ◆ March 19, 2017 12 Comments

Readers of a certain age will remember when state universities were a bit spartan but extremely cheap. Middle class families could send their kids to Ohio State or UCLA without taking out a second mortgage, and […]
Welcome To The Third World, Part 20: Poor Kids Become Prostitutes To Buy Food

by John Rubino ◆ September 15, 2016 23 Comments

One of the jarring things about visiting less-well-off countries is the seemingly inexhaustible supply of girls and boys available for anyone with hard currency. These are someone’s kids. But apparently there’s not enough food in the […]
Welcome To The Third World, Part 19: Health Care Systems Break Down

by John Rubino ◆ September 3, 2016 48 Comments

The most obvious difference between “rich” and “poor” countries is that the former provide health care for most or all of their lucky citizens. At least they used to: Obese patients and smokers banned from routine […]
Welcome To The Third World, Part 18: Pensions Overwhelm Public Services

by John Rubino ◆ August 26, 2016 23 Comments
Welcome To The Third World, Part 18: Pensions Overwhelm Public Services

Citizens of the developed world are watching Venezuela’s descent into financial and political chaos mostly, it seems, with amused detachment, safe in the assumption that we’ll never end up hunting our cats and dogs for food. […]
Welcome To The Third World, Part 17: Was Middle-Class Retirement Just A Credit Bubble Fantasy?

by John Rubino ◆ February 28, 2016 15 Comments
Welcome To The Third World, Part 17: Was Middle-Class Retirement Just A Credit Bubble Fantasy?

One of the jarring — and until recently underreported — aspects of those seemingly-positive recent US jobs reports is the increasing skew towards older workers. Most new jobs have gone to people who in better times […]
Welcome To The Third World, Part 16: The Best Jobs Are Now In Government

by John Rubino ◆ November 23, 2015 29 Comments

Years (actually decades) ago I lived in a New York University grad student dorm that housed mostly elite kids from other countries. Sons of African finance ministers, daughters of European bankers, that kind of thing. And […]
Welcome to the Third World, Part 15: Insurance Agents Lose Their Health Coverage

by John Rubino ◆ May 19, 2014 23 Comments

One would think that great health coverage would be a basic perk of working for an insurance company, but those days are apparently over. Investment News reports that John Hancock has not only eliminated health insurance […]
Welcome to the Third World, Part 14: Homeowners Become Renters

by John Rubino ◆ May 16, 2014 10 Comments

This morning’s housing report was huge. As one representative headline put it: “Housing starts up sharply; permits highest since 2008”. Dig just a little deeper and it’s still huge, though in a different way. Turns out that all the increase was in apartment building, while single family homes — the linchpin of what used to […]


Welcome to the Third World, Part 13: Suburbs Become Ghettos

by John Rubino ◆ May 12, 2014 33 Comments

Not so long ago, a reasonably-presentable American could live an hour outside of a city and commute in for a government or banking job, thus getting the best of both worlds: city-level wages and a 3,000 […]
Welcome to the Third World, Part 12: Your Pension is an “Unsecured Obligation”

by John Rubino ◆ December 8, 2013 29 Comments

The main difference between well-run and badly-run countries is certainty. In well-run countries, money is worth pretty much the same from one year to the next, the police come when called and protect rather than prey […]
Welcome to the Third World, Part 11: Suddenly, Being a Politician is Hard

by John Rubino ◆ October 8, 2013 10 Comments

“How did you go bankrupt?” “Two ways, gradually and then suddenly” – Ernest Hemingway, The Sun also Rises Senate majority leader Harry Reid is on C-SPAN this morning lamenting the republicans’ unwillingness to negotiate even after […]
Welcome to the Third World, Part 10: Students Become Strippers

by John Rubino ◆ December 4, 2012 39 Comments

Poverty – or its prospect – sometimes leads one to make surprising choices. Here’s a truly disturbing example, from London’s Independent: Students and the sex industry: Empowering or the last resort of the debt-ridden? With unemployment […]
Welcome to the Third World, Part 9: Entrepreneurs Can’t Retire

by John Rubino ◆ September 3, 2012 41 Comments

For most small business people, the ideal life goes pretty much like this: a few years of all-consuming obsession to get set up, followed by a few decades of 12-hour days to build a reputation and […]
Welcome to the Third World, Part 8: A PhD Is Now a “Path to Poverty”

by John Rubino ◆ August 23, 2012 119 Comments

Newly-minted anthropology PhD Sarah Kendzior has written a chilling piece for Aljazeera on what things are really like in academia these days: The closing of American academia It is 2011 and I’m sitting in the Palais […]
Welcome to the Third World, Part 7: Bye Bye, Public Services

by John Rubino ◆ August 12, 2012 96 Comments

Meredith Whitney was an obscure Oppenheimer & Co. bank analyst back in 2008 when she broke from the pack and predicted Armageddon. She was right, the pack was wrong, and she parlayed her new-found fame into […]
Welcome to the Third World, Part 6: Portraits of a Quiet Depression

by John Rubino ◆ August 7, 2012 104 Comments

Last month I took a long, winding West Coast trip, partially for work and partially to see some old friends. It was…shocking. Almost without exception the old friends are having money or career troubles, in some […]
Welcome To The Third World, Part 5: Higher Education Goes Broke

by John Rubino ◆ June 22, 2012 24 Comments

Not all that long ago, most college campuses were pleasant but somewhat austere places where kids without much free cash learned from modestly-paid (but dedicated and respected) professors. Then came the credit bubble, which allowed universities […]
Welcome To The Third World, Part 4: Boomers Reap What They’ve Sown

by John Rubino ◆ December 19, 2011 1 Comment

It was fun while it lasted. We Baby Boomers got to diss our elders when we were young and borrow without restraint through middle-age. Few generations have traveled such a smooth stretch of financial/psychological highway. But […]
Welcome to the Third World, Part 3: Disappearing Pensions

by John Rubino ◆ November 8, 2011 23 Comments

One of the things that separate the “rich” world from the rest of humanity is the expectation that a lifetime of work is rewarded with a comfortable retirement. Whether through an employer’s pension or 401(K), or […]
Welcome To The Third World, Part 2: Real Lives

by John Rubino ◆ November 1, 2011 11 Comments

Yesterday’s Wall Street Journal devoted an entire page to the differences between today’s economy and a typical recovery: Slow Recovery Feels Like Recession Americans are two years into a recovery that doesn’t feel much different to […]
Welcome To The Third World. Part 1

by John Rubino ◆ August 22, 2011 31 Comments

One upon a time, the US was a place where police came when you called, a basic safety net caught those who fell on hard times, and a lifetime of work was rewarded with a decent retirement. A First World country, in other words. To be born here was to win life’s lottery. But apparently […]

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https://www.youtube.com/watch?v=VnAIYvQVaOQ

31:10 vide

John Rubino - Mass Layoffs Coming One Way or Another
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•Oct 27, 2020
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Greg Hunter
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Financial writer John Rubino says expect mass layoffs of city and state workers as deficits explode and tax income plunges. Rubino explains, ““If they can’t pay their bills, they can’t pay their bills. If it can’t happen, it won’t happen. So, you get effective bankruptcy via defaults for a lot of these places. That means massive layoffs of city and state workers and turmoil in the bond market. That kind of thing alone is enough to send the U.S. back into recession assuming we are out of recession when it happens. If you combine this with all the other stuff that will be going on, it is going to be one of those perfect storm scenarios where everywhere you look, somebody is in trouble and demanding a federal bailout. . . . The federal government has a printing press. They can bail out Illinois mismanagement and Chicago mismanagement and basically bail out the politicians who did all of these things. This will come at the cost of the financial markets in general and the currency markets in particular. When they see trillions of dollars in bailouts here and trillions of bailouts there, they will conclude maybe you don’t want to hold the currency of the country that is doing this. Then the U.S. starts looking a lot like Illinois does now, not AAA credit and that is when the debt spiral starts. This causes people to lose faith in the currency, and then it’s game over. . . . There are mass layoffs coming one way or another. It’s just a question of who gets laid off.”