The Dismal and Hopeful Future

One doesn’t have to be a brilliant social analyst to see that the contemporary world order is doomed, destined to start visibly crumbling within the next decade or two at the latest. The neoliberal system, in fact the corporate capitalist system, is radically unsustainable. It is too unstable, too universally rapacious, too humanly exploitative and environmentally destructive, too demoniacally self-consuming–for capitalism can profit from its self-immolation!–to last much longer. Is it even necessary anymore to argue for these claims? Capitalism means self-sabotage. Its profit-making interest lies in paying wage-earners as little as possible, and ideally in mechanizing and automating them out of existence, for they’re expensive and troublesome with their demands for “rights” and other such nonsense. On the other hand, capitalism needs markets; it needs entities to sell things to, for that’s how it makes profit. Any sort of entity would serve its purposes–alien creatures, super-advanced machines, genetically […] Read More

Governments Worldwide Will Crash the First Week of October… According to 2 Financial Forecasters

This article was originally published at Washington’s Blog. Update: Please see correction at the end. Two well-known financial forecasters claim that virtually all governments worldwide will be hit with a gigantic economic crisis in the first week of October 2015. Martin Armstrong is a controversial market analyst who correctly predicted the 1987 crash, the top of the Japanese market, and many other market events … more or less to the day.   Many market timers think that Armstrong is one of the very best. (On the other hand, he was jailed for 11 years on allegations of contempt, fraud and an alleged Ponzi scheme. Armstrong’s supporters say the government jailed him on trumped-up charges as a way to try to pressure him into handing over his forecasting program). Armstrong has predicted for years that governments worldwide would melt down in a crisis of insolvency and lack of trust starting this […] Read More

Signs Of Financial Turmoil Are Brewing In Europe, China And The United States

Submitted by Michael Snyder via The Economic Collapse blog, As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe.  In Greece, a full blown bank run is happening right now.  Approximately 2 billion euros were pulled out of Greek banks in just the past three days, Barclays says that capital controls are “imminent” unless a debt deal is struck, and there are reports that preparations are being made for a “bank holiday” in Greece.  Meanwhile, Chinese stocks are absolutely crashing.  The Shanghai Composite Index was down more than 13 percent this week alone.  That was the largest one week decline since the collapse of Lehman Brothers.  In the U.S., stocks aren’t crashing yet, but we just witnessed one of the largest one week outflows of capital from the bond markets that we have ever witnessed.  Slowly but surely, we are […] Read More

Dollar Vigilante Warns of September 2015 Crash: “There Are a Lot of Things Going On… a Lot of Crazy Things”

The warnings signs of a coming collapse of the global financial system are starting to appear everywhere. From currency machinations in the United State and Europe to government exercises and simulations preparing the military and law enforcement for widespread civil unrest, it seems that those those in the upper echelons of the global power structure know that it is only a matter of time. Though the exact path to the next financial crisis is still unclear, there are a host of possible trigger events that could send the system into a tailspin in rapid fashion. The Dollar Vigilante Jeff Berwick, one of the most well known contrarian financial analysts in the world, suggests that the reckoning may come in the Fall of 2015. Berwick doesn’t make forecasts such as this lightly, but as he notes, there are a lot of crazy things going on and it’s just amazing to see all of these […] Read More

One American’s Rage Spills Over: Shut Your Mouth & Start Fighting These Political Parasites

Warning: NSFW, for the weak of heart, look away… Submitted by Thad Beversdorf via First Rebuttal blog, I was shocked today by the absolute gaul of the Fed releasing a statement about Net Worth in America reaching record levels.  Now I get that they are under extreme pressure to sell the story that everything is rainbows and butterflies.  But surely they understand that working class Americans are going along with the story because they really don’t have any say in our nation’s policies anymore.  That doesn’t mean they want it thrown in their faces that the Fed has spent 6 years now inflating the wealth of the top 10% so much that it actually lifts the total wealth of the nation’s citizens to record highs. The ugly reality is that the bottom 80% of Americans experienced none of that gain.  That’s right a big ole goose egg.  And so when the Fed via its […] Read More

Gov Report Says There Is No Inflation: “It’s Pure and Utter Bullsh*t”

Editor’s Note: Earlier today Michael Snyder pointed out that the purported 5.5% official unemployment rate is a massive lie based on skewed numbers. Nonetheless, Wall Street and a good portion of the American public have fallen for the sham hook, line and sinker. But the conjecture doesn’t stop there. It seems that everything the government has been disseminating to the public is loaded with half-truths or outright fiction. The latest example comes to us from James Quinn of The Burning Platform, who highlights the government’s claims that prices for essential goods and services are falling. As usual, Quinn succinctly dissects the reality of the situation and proves that regardless of the “official” numbers, Americans’ wallets are getting hammered at every turn.  How’s that deflation working out for you? By James Quinn The BLS put out their monthly CPI lie last week. They issued the proclamation that inflation is dead. […] Read More

The Destruction Of The Middle Class Is Nearing The Final Stages

Submitted by Tom Chatham via Project Chesapeake, The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed. At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that money if a banking crisis takes down the bank. The spending bill just passed by congress makes the American taxpayer responsible for any derivatives loses that banks may suffer. These derivative holders now have first priority when any funds are paid out […] Read More

Meet The “Access To Affordable Mortgages” Act: How Congress Will Create The Next Crisis

Submitted by Simon Black via Sovereign Man blog, Say hello to the next financial crisis, brought to you courtesy of the dumbest new bill of the week: H.R. 5148: Access to Affordable Mortgages Act. Ordinarily whenever an individual wants to borrow money for a mortgage, the bank conducts due diligence… both on the borrower as well as the property. It’s in the banks’ interest (as well as the banks’ depositors) to ensure that the property is at least worth as much as the amount being borrowed. Duh. Congress doesn’t agree. Apparently when banks conduct property appraisals, that seems to unfairly discriminate against some segment of the population trying to buy crap properties. And we certainly can’t have that going on in the Land of the Free. So with HR 5148, Congress aims to exempt certain ‘higher-risk mortgages’ from property appraisal requirements. Curiously, this legislation reverses several provisions in the […] Read More

Why Housing Will Crash Again – But For Different Reasons Than Last Time

Submitted by Chalres Hugh-Smith of OfTwoMinds blog, Institutionalizing the speculative excesses that inflated the previous housing bubble has fed magical thinking and fostered illusions of phantom wealth and security. The global housing market has been dominated by magical thinking for the past 15 years. The magical thinking can be boiled down to this: A person who buys a house for $50,000 will be able to sell the same house for $150,000 a few years later without adding any real-world value. The buyer will be able to sell the house for $300,000 a few years later without adding any real-world value. The buyer will be able to sell the house for $600,000 a few years later without adding any real-world value. And so on, decade after decade and generation after generation: a house should magically accumulate enormous capital (home equity) without the owner having to do anything but pay the mortgage for […] Read More