Monday, December 08, 2008
Paranoid whackjob, black helicopter watching, Mcveigh wannabe Angry Sam Owen offers a glimpse of the future.
With "official" unemployment at 6.7% and "Official" inflation hovering around 5%, what's in store for for Joe Six Pack?
He's "officially" fucked.
1.5 million out of work(on the books), growing by leaps and bounds with another 3 million jobs on the ropes in the flailing dinosaur of an auto industry. Financial, construction, manufacturing, retail, even Silicon Valley is foundering.
The stench of rotten money fills the air. A decaying Dollar, Euro, Peso, Real, Rand, Yen, Yuan and Pound poison the economic atmosphere like festering monetary corpses. The cost of the world's bailout efforts are said to be beyond $10 trillion already.
Central banks madly pump infusions of newly created cash Keynesian economics into the banking system in desperate attempts to resuscitate the fallen giant. The ECB (European Central Bank) has dropped lending rates to 2.5%, while the BOE(Bank of England) has dropped to 2%. The fed is expected to drop another 1/2 % to drop to 1% this month.
Borrowing money will soon be free.
What happens next? lets go from "A" to "Z" and ask that question.
Argentina, in what can only be called an FDR inspired stroke of kleptocratic genius, has confiscated $30 billion from the pensions of private citizens in order to pay its operating costs and the currency has once again become so devalued that peso coins sell for 5 to 10% more than paper money on the black market.
In Zimbabwe, inflation is as rampant as the ensuing cholera epidemic. Earlier in the year, consumer price inflation was clocked at 2,000,000% (Yeah, two million percent). Now, it is said to have sped up to 231,000,000%(Thats right twohundredandthirtyonemillion percent).
Of course, price controls are in full effect and any "profiteers" have been thrown in the appropriate dungeons. Bank withdrawals have been limited to 1/2 a million Z-dollars a day, but nonetheless at $25 US for a bottle of water, six months worth of daily withdrawals would only buy you a sip.
As for the good ol' US of A:
This country is headed for a disaster of biblical proportions.
Real wrath of God type stuff.
Fire and brimstone coming down from the skies! Rivers and seas boiling!
Forty years of darkness! Earthquakes, volcanoes...
The dead rising from the grave!
Human sacrifice, dogs and cats living together... mass hysteria!
You catch my drift.
My best Advice:
Put on your happiest Hawaiian shirt, smile at everyone you meet, hang on... and enjoy the ride.
Oh... and buy LOTS of bullets.