I’ve got to say that the economic numbers, the markets, and the apparent enthusiasm seem quite out of place with economic reality. It is astounding how the controllers of today’s modern economic systems have not only staved off a complete crash during 2008, but have risked the system way worse than then while having also manipulated perception to the extent that NO ONE seems to be concerned about today’s realities all these years later.
It’s as though NO ONE seems to be concerned at all about our gargantuan national debt and unfunded liabilities, the insane global debts, the unimaginable intertwined systemic risk of global derivatives (can you fathom the word, ‘Quadrillion’?), and the burgeoning debt of most Americans and American families who live a lifestyle nearly paycheck to paycheck.
If the majority are so incredibly mind-numbed dumbed-down stupid, then why don’t we just vote ourselves that the government send each of us a check for a million dollars? NO ONE CARES about the debt, so, why not??? Hey, no ramifications right?
And now that Trump has been elected, the exuberance is rocketing to the moon that we shall all be saved from any economic woes to come! We as a people are not grounded in reality, and the masters of our economic systems are taking advantage of it to the fullest extent. What gives???
I have written quite a number of articles expressing this type of economic concern over these past years, and it has reached the point where it’s not ‘crying wolf’, but it has reached the point of watching the wolves devour the sheep! One bite at a time!
NO ONE CARES that the national debt is only a few dollars away from $20 Trillion. What’s a trillion? Who cares! There have been no consequences and therefore there will never be any consequences!
NO ONE CARES that the unfunded liabilities of the United States are $104 Trillion. Whatever – just spit out some more electronic digits – there are no apparent consequences!
NO ONE CARES about this stuff because there have been no hard felt consequences for living ‘high on the hog’. Our masters have kept most of the people fat, dumb, and happy, and the best part is…they’re getting dumber by the minute!
They’re so dumb that they are easily and entirely controlled by the barrage of daily brainwashing from the controllers of the mainstream. They have little or no knowledge of history, consequences, or anything at all except for what’s on TV tonight! Or who’s on Facebook right now! NO ONE CARES!
The title of this article, “Is A Devastating Economic Crisis In Our 2017 Future?” is more or less ‘tongue-in-cheek’ in that every year one wonders if this is it, and then there are never any consequences… The band plays on and the Titanic never sinks!
So, having ranted away, and if people are so entirely out of touch with what has really been happening (I could write a book), then what difference does it make to continue down the road of colossal debt? It seems that the powers-that-be are simply winking at each-other as the tune keeps playing on while the people dance to the music…
Are we the stupid ones for not joining in and living high on the hog?
Are we the stupid ones for not entering the casino and playing the game?
After all, there are no consequences right?
The Death Of The Dollar And The Entire U.S. Financial System
The coming banking collapses, and the coming failure and disintegration in the global financial system (monetary, credit, and financial asset meltdown), is going to be fast and chaotic — and will crush society and the way of life as we know it.
What will be the mechanism of the societal crush?
An intertwined systemic banking crisis coupled with a ‘just-in-time’ supply chain contagion.
The likelihood of a food security crisis within days in the directly affected countries and an exponential spread of production failures across the world beginning within a week.
This will reinforce and spread financial system contagion.
The longer the crisis goes on, the greater the likelihood of its irreversibility. This could be in as little as three weeks.
-David Korowicz, “Trade-Off: Financial System Supply-Chain Cross-Contagion”
The systemic risk:
In the globalized economy, the growing complexity of interconnectedness, interdependence and the speed of processes (‘JIT’ just-in-time), coupled with the de-localisation of production have magnified global vulnerability and opened up the possibility of a rapid and large-scale collapse.
When you think about it, it makes sense. It’s logical. It’s complicated, but then again it’s not…
In a complex and interdependent economy, fewer failures are required to spread cascading failure through socio-economic systems. The risk of cascading failure occurring has increased significantly and will result in a sort of ‘domino effect’ of failures that unfortunately most people have problems seeing or planning for.
The likely cause of such an event would be a large-scale financial shock.
Failing banks, fears of currency re-issue, fears of further default, collapse in Letters of Credit, and growing panic directly quickly shut down trade in the most affected countries.
As the week progresses factories close, communications are impaired, social stress and government panic increases. After a week almost all businesses are closed, there is a rising risk to critical infrastructure.
Almost immediately internal trade and imports stops in the most affected countries, and there is impairment in a growing number of other countries. Trade is impaired globally via a credit crunch.
This undermines exports from some of the most trade-central countries, with some of the most efficient JIT dependencies in the world. This cuts inputs into the production and trade into countries that were initially weakly affected by direct financial contagion.
Globally, the spread of trade contagion depends on complexity, centrality, and inventory times and once a critical threshold is passed spreads exponentially until the effect is damped by a large-scale global production collapse.
Once the financial system contagion crosses a particular threshold the destabilization of the globalized economy will be exceedingly difficult to arrest; this point may be in as little as ten days.
Once a major system collapse occurs, scale, hysteresis, entropy, loss of critical functions, recursion failure, and resource diversion is likely to ensure that the features associated with the previous dynamic state of the globalized economy can never be recovered.
We are living in an unprecedented time of growing risks within a complex inter-dependency of major global systems for our very survival. We need to transition out of, and prepare for, a system which is seemingly teetering towards collapse and failure. Should the dominoes start falling, it will already be too late to significantly prepare. I do not know when this will happen, but I believe that it will happen. It will be life-altering and devastating (and deadly) for many. While even the prepared will be affected, those who stick their head in the sand will be affected much worse.