Nipping at our Nose

Since the season to be jolly is over, I just want to say a few tings, economically that is. For the past 16 months I have been trying to prepare folks for the impending economic “dark ages” that may be on our door step, or even nipping at our nose. I say this for what we have experience thus far, may be very small in comparison to what waits ahead for these United States of America financially.

As history has shown, most of our problems are man made and as such our days as a world dominant leader of nations are numbered for we are now basically broke, with an economyripped apart and entirely dependent on loot borrowed from other nations. Businesses will find it hard to survive. Not just Wall streets and banks but any and even the small. What has happened is that America has turned from a producer to a consumer. And as such all of us are going to have to do some serious re-evaluation of our lives and life styles for the impending implosion of what we used to take for granted. The main problem is that politicians will not be able to solve what the have let happen on their watch. Not to mention they always desire a quick fix and or the easy way out – which normally ends up being a short term fix if that.

Yep we aint even seen the start of this mess. States like Illinois, Minnesota, New York, and Massachusetts are in the process of selling and privatizing parks, and lotteries just to make ends meet. Even cities doing what they can to stay a float. Chicago is trying to lease Midway Airport for $2.5 billion, if the feds approve the deal and has already inked a deal with a company regarding parking meters. But as I said, these are merely short term fixes and may even make these municipalities loose money in the long run.

It would surprise me none if states like California, Ohio, Michigan, and Florida will be bankrupt before the end of next year. Strange aint it, that Federal municipal bankruptcy laws came about in 1934 during the Great Depression. California's unemployment rate is more than 8.4%. Michigan’s is more than 9.6% Rhode Island is above 9.3%.

Yep the shit is about to hit the fan even with the Treasury and Federal reserve throwing all but the kitchen sink at the financial markets to fight deflation while not even noticing how folk like me taking a hit. And we don’t know how many more folk like Madoff are still on the loose thanks to the Chris Cox SEC. Not to mention that we are currently experiencing asset price deflation in an econonmy that seems tto be grinding to a halt.

So a toast to the Feds, and all them other folks that have lead us to the eventual destruction of the U.S. dollar and the global monetary system upon which it’s based. For the truth is that U.S. government debt is at $10.5 trillion and our government continues to advance a policy of deficit spending. I figure the Fed’s next move will be to push for the all powerfum Amero (new currency). This will drive up oil and gold and all else meaning that investors won’t support the U.S. government’s monetary policies. So I drink again as the U.S. dollar retreats against other currencies and commodities. Wish more folks read John Moorlach, the accountant who predicted the 1994 Orange County bankruptcy. He suggest that maybe Up to 10 Municipal Bankruptcies in 2009. So hold on to your hats because folk needs to be a magic Negro to deal with what I see on the bunson burner. But me no economist, so don’t listen to me mane. Just let jack frost keep on nipping at your nose.