The Collapse Is Picking Up Steam

June 30, 2015, by Ken Jorgustin

economic-collapse-is-coming

Greek crisis: ‘We rely on imports. Soon even the most basic goods won’t be available’ as all banks in Greece remain shut apparently until at least Thursday as ATM’s run dry and store shelves around the country have emptied. Social unrest is looming…

The Greek finance minister has just confirmed it will default TODAY.
Greece will NOT pay its IMF payment.

The Bank of International Settlements (BIS), the central bank of central banks, has just warned that the world is defenseless against the next financial crisis…
(Please read that again.)

The NYT has just reported that the default wave has jumped the Atlantic and has hit Puerto Rico whose governor has concluded that the commonwealth cannot pay its roughly $72 billion in debts, “The debt is not payable.” “There is no other option.” – an admission that will probably have wide-reaching financial repercussions…

In US “capital markets” virtually all the same hedge funds who are ‘long’ Greece (on hopes of some central bank bailout), are also long Puerto Rico. Quote: “…some of the most “respected” US hedge funds will suffer a gruesome bloodbath.” (NYT)

The Chinese market is in an all out crash – The Shanghai Composite was down nearly 20% in just four days as the Chinese Plunge Protection Team finally arrived and ‘threw the kitchen sink’ at the stock market, deciding to go ‘all in’ stocks. This led to an unprecedented 11% swing from the lows – this was the single biggest intraday swing since 1997 and the largest point swing since 1992! China’s markets are imploding…

It seems the collapse is picking up steam…


 
Most ‘critical thinkers’ know that an increasing debt burden cannot go on forever. Debts DO have to be paid. The modern world has been in a spending spree for decades and it has become so bad that it’s now ‘normal’ for people to accept saddling up with debt to their eyeballs – to the very extent and reaches of their ability to barely pay each month. It has become an entirely accepted way of life – and one of entirely false illusions of real growth and wealth.

Our governments pale in comparison. The debts that have accumulated across nearly all developed nations are extraordinarily and ridiculously monstrous, and entirely not payable. We have been fooling ourselves that we can go on living this way for eternity. Kicking the can down the road. All debt payments come due.

There are many nations in addition to Greece (and now the commonwealth of Puerto Rico) which are teetering and may be in the same boat as Greece soon enough… Contagion may be setting in. Most all nations are technically ‘broke’ right now. The question is how long can this rigged game go on? When will the dominoes start to fall? The first big one might be starting to tip as we speak…

When it all begins to unwind, this thing might pop like a tightly wound spring. It could happen very fast. Do you think the world’s central banks can keep it all together? I have serious doubts as the music stops and everyone is trying to grab that last chair…

I believe that most people have no idea as to the risk we’re facing today and the potentially terrible ramifications which will result when it crashes down to reality. When their so called ‘money’ becomes worth less or even worthless, there will be social chaos in the streets and a worst-case chain reaction could result in the deaths of untold millions as systems of distribution and supply chains break down all over.

And if (when) this finally happens, where do you think it will lead? WAR. Nations will fight nations for supplies and resources. We would likely be looking at World War 3.

Most people who would read of such ‘preposterous talk’, would think that this is all laughable, ludicrous, or unbelievable that a collapse, social chaos, deaths, or WWIII could would or will ever happen. Such talk sounds so outrageous that it’s chalked up as conspiracy. That’s how ‘far gone’ the minds of mush are today. There’s no comprehension as to the ‘badness’ and madness of such enormous debt. There’s no notion of any danger whatsoever – it has never been taught, it has never been told, and it will ultimately lead to their own unpreparedness and demise.

It literally is like a balloon. That’s how I see it. You can keep blowing air into a balloon to make it bigger and bigger – all the while everyone’s saying ‘look at how nice and big that balloon is… everything is grand!’ What is incomprehensible to me though is how these same people apparently have no clue that the balloon will eventually and SUDDENLY pop. When it does, the very loud noise and the exploding bits and shreds of rubber will shock them!

You see, it is all very predictable. We (critical thinkers) KNOW that this balloon is going to pop (the debt balloon). And we know that the time is certainly close. While we don’t know exactly when, we do know how people at large will react (in shock and horror and disbelief). We do know that things could get ‘bad’ (putting it mildly). This is why we prepare.

Prepare for supply chain disruption. Prepare for your own security. Prepare to be more self-sufficient. It is better to be prepared and not need it than to need it and not be prepared. While I personally hope that the powers that be can continue to patch up this mess so that my own life is not disrupted, I am prepared and am preparing as though one day they will lose control. I have extracted myself from ‘the system’ to the extent that anyone can (we still must pay our taxes) and I am reading for the day when the huge balloon finally pops. What about you?