From Zerohedge: GordonGekko
http://www.zerohedge.com/article/coming ... al-tsunami
What's happening now is just the beginning of the collapse of a multi-decade debt bubble. All the so-called "growth" since the 70's has been based on ever increasing amounts of debt - not just the US, but the entire world. Here is a US Debt (public and private) to GDP percentage graph:
http://www.zerohedge.com/sites/default/ ... ot/1_0.gif
Comment from the Author
This time, I think the whole world is f**ked. It's all one big s**thole.
Apart from no mention of Generational Root Causes the author seems to recognize we are headed to a global meltdown or worse.
It appears to me the difference is the boomers are willing to let the Gen-X continue with more of what got us here in the first place.
If Silents (or Greatest Generation) were still in charge then I have to believe they would have forced a restructure on Greek Bond holders (and all of the PIIGS).
This in fact was done and in some cases loans were forgiven as realistically there was no other choice (and still isn't).
In fact one of the other things he points out is just how complicit the Governments have been in this presently crony capitalism.
As aedens points out
Many articles are showing "retail" investors have left the market.
I wonder how long before they leave completely.
It will be really funny if the little guys get out before the professional guys get clobbered.
But then again, it may not make any difference as the whole circus could come crashing down.
Watching MSNBC this morning, it finally dawned on me there is barely a pretense of journalism.
Both the anchors and guest are just advertisement mechanisms.
Many classes on the market teach students "you can make money if the market goes up or down"
So it is curious that there is so much bias in the MSM towards the up direction, and only in the context of rising prices is
presented an opportunity to make money.
Never do you hear "this is going to tank and here is how to make a buck on it"
That would be anathema.
The MSM is just like so called product magazines for (you name it) cameras, cars, et cetra.
They pretend to have articles but are really seamless presentation of ads, some literally, some masquerading as reviews.
A couple of times they had a guest who used the term boomers, gen-x, gen-y and yet had no follow through with Generational concepts.
It it curious they, must have read at least S&H (maybe GD as well).
Certainly it seems strange they know the labels but not what they stand for.
Perhaps they know and are just getting as much as they can before it is all over.
One closing thought is just how difficult the regeneration phase may be.
I read a lot of Cold War books many years ago (was in the Military) and one of the recurring themes in "Thinking the Unthinkable" by Dr. Kahn was how long after a country suffered major damage does it take to get back to present GDP.
While it may not be due to Nuclear Weapons this time (but this is far from certain) it could be nearly as bad.
Peoples attitudes will of course never be restored, and going to the mall as a national pastime will likely be generations away.
John,
Could this cycle be different in the respect that re-generation is only able to restore us to a faint version of what we once were?
I hope not, but have this nagging feeling they higher you fall from the more terrible the bottom.
The one bright note is more and more a few good sites (like GD) are shedding light and increasingly the MSM is being seen for the shill it really is.