Thursday, August 4, 2011

Is today the day?

For ten years I´ve been warning, sending letters to papers, writing editorials and telling people that we´re heading off a cliff. Although acolytes of this notion, the notion that The Greatest Depression is about to arrive, increase in numbers day by day, a rude awaking still eludes the general public.

I predicted ten years ago that the first part of the crash would occur 2007 and that our scheming Great Leaders would, through printing, borrowing and lying, keep things sort of going for another 3 years. I was off the mark. Officially the first crash happened 2008 and we´ve yet to see a real apocalyptical fall-out. Since then I´ve just been waiting for it while money masters and the elitist sphere prop up markets even further.

Now, with markets going down across the board with horrible numbers ticking in almost every day, we could have arrived at worlds end. I still don´t think this is it, there´s still electricity running into printers at central banks and there´s still juice left in evil squids. So no, I don´t believe this is the actual real crash. However we´re at the edge right now so a tiny gush from Italian bond trade, a breeze of horrificness curtsey of Spanish real-estate, or a dollar sell-off from the Chinese and that’s it.

As I´ve said many times before Fridays are the worst days - bad news can told better on Fridays since our Great Leaders has the weekend to strut their stuff. And since the last two weeks have been a constant Friday-show, I do expect that either a Vespa runs into a brick wall or a free fall on markets will occur today. However ECB do have tons of firepower and so does the Chinese and (yes, still) Americans. They will not let things crash right now so either they will intervene directly today or during the weekend culminating in QE3, or a massive intervention by the IMF or some such on Monday.

This crisis brought forth by overregulation’s, too much borrowing, too much money printing and progressive ideas is here, have been here all along. You can ignore it, sing tra la la la la or you can do what most idiots out there seem to be doing: blame capitalism. But if you really want to know what is going on, why and how to fix it you better listen to the people that saw this coming miles away. And yes, I am one of them.

Of course too few of you will. Instead you´ll be putting on a red, black, brown or white shirt and start marching around in combat boots.

That phrase “I told you so” is very funny, but when you idiots out there start throwing people into camps, start your revolutions and go even further down the abyss because you don´t understand better, that´s when the real fun starts.


  1. I just have to ask...
    You keep saying that the public is stupid and that the solution is out there. But I never see any kind of solution from you?

    I would like to hear what we should do in your opinion?

    Like you write here: "This crisis brought forth by overregulation’s, too much borrowing, too much money printing"

    So in what way have overregulation contributed to the economic downfall we see now?

    And i have another question... The economic policy right now is Capitalism, and it dictates the way were going in and how to solve problems in the economy, if the economy goes down isn´t it the WAY were handeling the problems a problem in it self?

  2. Actually I offer solutions all the time. Just read my latest post.
    First up, if you think the economic policy right now is capitalism you´ve already missed the entire point. We have no capitalism in this world. Nada. Zilch. If you believe that there´s nothing I can do for you anyway. As long as we have central banks, FIAT currencies, sky-high taxes, protectionism, public healthcare and so forth capitalism is nowhere to be found. ECB, the Fed, Riksbanken etc. Etc. Would never exist in a capitalism world.

    We have slim traits of market economy yes, but no matter what market we´re talking about its extremely regulated, taxed and controlled.
    Our world is what I regard as a mixture of socialism, greed, political correctness and Keynesianism. Since we also have plenty of corporatism and Orwellian surveillance increase every day, maybe Fascism is the closes ideology of what we have today. But it’s really a mixture with mostly the worst of each blended together.

    The more regulations, the more taxes and the more borrowing and printing of money the more money is relocated from productivity and funnel into black holes. The more regulations, taxes, borrowing and printing the more the biggest and most ruthless win.

    Can you see where am going with this?

  3. Yeah i can see where youre going...
    And i do agree with you that were closer to fascism.
    But the financial collapse of 2008 was engineered. And i would say that the problem was to LITTLE regulations. One of the bigger problems right now, i would say, is derivatives. Allowing financials institutions to gambel with the market.

    But i like youre blogg and i appriciate that some one says what im thinking about... we won´t agree on a lot of things but the financial collapse we can agree on... The ways of preventing it differ...

  4. Well, as I said fascism is probably the closest to what we have, but it’s not really correct either. It’s a mixture of pretty much everything, also slim vestiges of a market economy. What is dominating though is that big banks, governments and all their cronies are in bed together and have been for a long time.

    And then you´re not completely wrong comes to regulations. The problem was (and still is) is that we have too many bad regulations that basically only help and support the already rich and powerful i.e. big banks and governments. But yes, we also had (and still have) a lack of laws and regulations that would suppress the worst of the worst. In a capitalist world we wouldn´t need regulations at all, but as long as we have what we do have some of them are necessary to keep everything afloat.

    Derivatives are a huge problem yes, mostly because they have no underlying value and so when all goes to hell those fictitious crappy things will drag us further down the abyss. But they are not really the main problem, the policies that allows they to exist is the main problem. So again we come back to lack of good regulations and too many of the bad ones. And again, in a capitalist world such crap wouldn´t exist.