April 6, 2014 at 2:57 pm #7292
Ragnarök… The Twilight of the Gods…
And, it appears, our own Twilight is approaching. For all our worries about EMP’s, nukes, contagions, plagues, solar flares, volcanoes, tsunamis, etc, it seems we’re going to be taken down by by something as mundane as overspending and the credit/debt spiral..
Civilization Will Not Survive
By Bill Bonner, Chairman, Bonner & Partners on April 3, 2014
The Great Depression saw GDP fall by more than 40%. The next great depression should see an even bigger drop. Unemployment reached 25% in the Great Depression. The next depression could see even more jobs lost. In the Great Depression a large percentage of the US population was still semi self-sufficient – with gardens, chickens, hogs and extensive home preserves. Today, few people could support themselves from home, even for a few days.
As the Austrian School economists warned us: Any credit in excess of actual savings is a fraud. It produces a fraudulent boom, which must be followed by a bust. Eventually, the phony credit must go back whence it came. Central banks can delay it. They can’t avoid it.
“In all probability,” says Duncan, “our civilization would not survive it.” He believes a serious credit deflation would bring “chaos, starvation and war.”
Read the full article..
The wicked flee when none pursueth..." - Proverbs 28:1April 6, 2014 at 3:51 pm #7301
Malgus, This is what I believe will happen. Some say it will happen sometime in 2015 or 2016. Some say it is when the National debt gets to 21 T to 23 T. The credit deflation will happen and chaos will come with it.
Prepare food will be the gold. We do have to learn how to support our self’s with the land we own.
Thank you for the link, will read later. I am going to Home Depot right now.April 6, 2014 at 4:35 pm #7302
I believe natural events will trigger a system accident.
A system accident is an “unanticipated interaction of multiple failures” in a complex system. This complexity can either be technological or organizational, and often has elements of both. A system accident can be very easy to see in hindsight, but very difficult to see in foresight. Ahead of time, there are simply too many possible action pathways.April 6, 2014 at 10:17 pm #7391
We have been predicting doom and gloom for years.
Be it economic, natural or otherwise only matters in the gistorical sense.
What matters is having the wherewithal to weather the coming storm.
All societies collapse, all movements stop, nothing is forever. Plan accordingly.
You may face war, starvation, loss of loved ones, until it happens, who’s to say.
What we can do is plan for what is likely to happen. Snowstorms, power outages, road closures, union strikes and such.
As we do so, to plan for more long term events, we just increase our stockpiles and plan around getting more of what we need, despite the missing components.
Eventually we have enough to weather any reasonable storm, and perhaps some unreasonable ones.
Around here, the highway can close for days from weather issues and does.
People not from here are the only ones who take any notice of this, it’s just winter.
When people in NY were panicking and carrying on recently, many here were commenting on the heat wave there. A foot of snow overnight? Nothing unusual.
So much is in the eye of the beholder, and the more you prepare for the norm, the more prepared you are for the unusual.
Thankfully we live in a high prepper concentrated area, probably 2/3 of the people prep if not more.
My wife finally got on board when she realized it was normal here, that you’re more likely to be laughed at for not prepping.April 6, 2014 at 10:53 pm #7406
Love Bill Bonner!April 7, 2014 at 12:20 am #7419
How many civilizations in history (Like the Maya and Inca) once were the pinnacle of wisdom, only to disappear without anyone able to explain how or why. Is that what awaits us? Many say we live the in end times, when the Lord will return for it’s people.
That something major is afoot, there is not denying. We don’t know what, when or where. All we can do is prepare our families and friends as best we can and hope the Lord is a merciful God.April 7, 2014 at 1:25 am #7423
The Lord wants all of us to prepare for whatever is coming. The Lord also wants us to save not only for our families but also for the one’s that didn’t prepare and believe in him. God Bless Us All.April 11, 2014 at 8:36 am #8098
There are unfortunately so many signs that we might get hit earlier than we like right now. I hurried up building our homestead. I really hope we get everything properly set up in the next 3 months.
This is also a great read. It is about quitting your job and why the middle class is dead. I see the same happening in Europe and Asia as well.
Alea iacta est ("The die has been cast")April 11, 2014 at 9:32 am #8103
I like his article and believe what he is saying about working for someone else. The fruits of your labor are not your own. It’s a bit scarry when you fisrt realize that most jobs are not necessarily and the only functions they have is to support other unnecessary jobs. The whole service job idea is like a pyramid scheme because no actual goods are produced. The technological advances in production over the last 100 years has made most of the population unnecessary in terms of maintaining society. That is scarry.April 11, 2014 at 10:53 am #8114
The middle class is dead! We are in the last years of having a middle class. The only light I see is that there is a small amount of more products made in the U. S. A. This may be because labor is getting cheaper so they are moving back to the U. S. It is not a good reason because they are lower paying jobs.April 11, 2014 at 11:21 am #8116
The technological advances in production over the last 100 years has made most of the population unnecessary in terms of maintaining society. That is scary
This is what many people do not realize or do not want to realize. A huge part of all humans are becoming obsolete to the system. Just some sand in the gears of the system that causes friction and damages it.
So either we change the system (localized economies, basic income or in other ways) or we will have a fight between those who run the system and those who are just part of it and those who just stick around, have nothing to do and just exist.
Alea iacta est ("The die has been cast")April 11, 2014 at 2:17 pm #8119
It is going down faster and faster, and may be reason for complete collapse. Here middle class is gone and once people who have been that middle class are forced to dig trough the garbage in order to find food or something useful.
At the end if something (war, pollution, viruses etc) does not bring chaos, simple economic collapse will.April 11, 2014 at 2:38 pm #8123
Selco, Agree it is going faster. I think is interest rates go up 2 to 3 points and the national debt goes up to 21 to 23 T it’s financial collapse and the beginning of the SHTF. Economic collapse brings marshal law and that will bring a war in the country.April 11, 2014 at 6:16 pm #8134
One thing that has struck my wife and I, is that many of her patients are expressing concern about the economy and the direction it is going. Many of them are now questioning some of their decisions in electing liberal politicians. Perhaps some of the people in DC are about to get a wake up call. The only problem is Dem or Repub, they both listen to us about the same.
My wife says this is a new trend that she is seeing among people who are usually focused on themselves and their immediate situations.April 11, 2014 at 6:29 pm #8135
I think it is happening every were. I said some roofers that voted for Obama and they were all now talking bad about ObamaCare, saying that he lied.
Remember that every 6 to 8 years the power changes, always happens.
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