Thursday, December 20, 2007

2008 : Amerikwan Economy Will Flatline

Don't let anybody fool you with mathenomics and tricks with figures.

The real math is astronomics. We're talking defaults on sums involved that are leveraged against bad loans that number in hundreds of trillions of dollars. Not billions in defaults. Hundreds of trillions.

I have a close relative who handles bad debt packages for banks as a profession. The word behind closed doors in Amerikwa is that the economic collapse of the United States that is approaching is in no wise comparable with that of the Great Depression in 1930. The understanding amongst colleagues is that this is much, much worse.

I honestly hope Australia will weather this mess with the grace of God. One of the biggest achievements under Costello was keeping the budget balanced and practicing very tight fiscal management. All of our economic fundamentals have been kept close to the bone without pork for nearly ten years and there are many people who believe that our economy is extremely sound because of it. Of course ... we do have a labor government now, so there's always the potential to stuff it up.


Patriot said...

Cost-a-lot only got us out of debt by selling/privatising everything that wasn't tied down. This means the Australian government's only way to generate revenue is through taxation and fines. It also means that the next time we're in the shit, they can't pull the same stunt again.

Of course, we do have a Labor government now, so there's always the potential we'll be back in the shit sooner rather than later.

Urban commando said...

I've got my fingers crossed for a 2010 - 2012 financial Armageddon based on Boomer retirement. A 2008 apocalypse will seriously cramp my style.

I "found" survivalism whilst trying to find out how to survive this impending storm. That was almost three years ago. My prep's are in hindsight foolishly based on the 2010 deadline.

BTW - I counted up my rice - I have 220kg on hand. LOL

Anonymous said...

We have 8 months left then some c*nt is gonna roll a little snowball off the top of a very large hill.
5 years to hit bottom through war, famine, invasion, pandemic and lastly that bitch mother earth will stomp on what is left.
I for one am finalising all my current projects and will be shipshape(as best I can) in 6 months

Texas Arcane said...

I am hoping for six months myself to bring everything up to new-car-smell freshness levels of prepped.

kochevnik said...

The system has tremendous inertia - it can go stumbling on for much much longer than you would ever expect.

WWIII involves the USA, China and Russia - it has too - these are the planets big players - everyone and everything else is a sideshow. And I don't think we're any where near that matchup yet. WWIII is going to be a RESOURCE war. We're at the top of the roller-coaster for sure i terms of resource supply but it's a long ride down to the bottom. Good to be prepared nonetheless, but right now the fight over resources is being waged with fiat - it will be a decade at least before it involves true warfare between the big 3.

In any case the collapse began with NinEleven. Now it's just accelerating. First it was a cakewalk that turned into a bitch slapping in Iraq, then it was the housing collapse, now it's the credit lockup. 2008 is going to be job losses/bankruptcies and the price of oil rising another 50 percent just like it did this year.

Going to be fun to watch.