The Global Financial System is Crashing – Here’s What We Can Do About It

By Phillip J. Watt

Guest Writer for Wake Up World

We have arrived at the doorstep of the next Global Financial Crisis. Collectively, we can no longer hide from the immense financial problems that plague us, including our enslavement to debt. Yet it’s not all doom and gloom; this might just be a blessing in disguise because it is an opportunity for the masses to join the awakening community and participate in the discussion for how we collectively move forward both in the short and long-term future.

Let’s start at the start: the 2008 GFC was never resolved. There were trillions of dollars created out of thin air by many of the world’s central banks which were then injected into the finance sector to keep particular private banking organizations from going bust. The technical term for this is ‘Quantitative Easing’; however we all should know this as simply ‘socialism for the rich’.

Whilst a natural reset was not allowed to occur and the Wall Street economy was kept afloat, the Main Street economy continued to suffer. Real unemployment figures have risen exponentially. Poverty has also significantly increased in the in the U.S. and elsewhere, as has homelessness. Poverty is even increasing in Australia which survived the 2008 GFC mostly unscathed, as evidenced by this independent report from the Australian Council of Social Service (www.agoss.org). In any case, our economic model has simply failed in resolving this and other forms of socioeconomic disadvantage.

To really solidify the dysfunction of our global economy, millions of people are on food subsidy programs all across the so-called developed world, especially the US. Moreover, the middle class is steadily disappearing whilst wealth inequality continues to amplify to unprecedented levels. Global poverty levels are also increasing, with an astonishing 22,000 children dyingeach day from poverty — most of whom are invisible to the scrutiny and the conscience of the western world.

Ultimately, if our leaders truly cared about providing the best for their people then they would immediately prioritize changes to the economic and power structures to alleviate the suffering that is widespread throughout every culture on earth. The truth is that there are progressive ways to organize society; models that need to be taken seriously by each and every one of us.

The failing financial system

We are clearly in a global money bubble with sub-bubbles in derivatives, stocks, bonds and real estate. The perpetual debt burden of both governments and citizens-of-earth alike is in an unsustainable and cataclysmic position, as it was in 2008. All these factors feed the virus of the world’s economic vitality which is why a reset for its immune system is simply inevitable.

Prior to the last GFC, there were many economists who predicted it. Similarly, the next GFC has been spoken about and predicted by ‘alternative’ economists for years too. Over the last 12 months especially, there have been many social and economic commentators estimating that a serious crisis is very close to reaching its initiating phase. They include, but are not limited to: investor and Mark Faber, politician Ron Paul, economist Paul Craig Roberts, broadcaster Max Keiser, trend forecaster and business consultant Gerald Celente, economist Paul Volcker, author Michael Snyder, short seller Bill Fleckenstein, financial analyst and stockbroker Peter Schiff, financial writer Harry Dent, veteran trader Art Cashin, and economist and author Steve Keen.

CONTINUE READING:

Previous articles by Phillip J. Watt:

• After A Decade Of Education, Why Are Our Kids So Uneducated?
• Parapsychology: How Science is Proving that Psychic Experiences are REAL
• The Awakening Of Society Is Just As Important As The Awakening Of Our Self
• The Ego is the Source of Suffering AND Contentment
• The Orchestra of Reality – a Journey through Science, Spirituality & Symbolism
• 8 Emotional Patterns That Can Disturb Our Inner Peace
• Permaculture – Reconnect with Nature, Supply Your Own Resources
• Matter vs. Spirit – A Guide to Participating in the Greatest Debate Ever

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