Posted on 11/24/2008 5:15:55 PM PST by Michael Eden
The “system” is being screwed by the idiots but the country remains a nation of individuals. Not a nation of the ruled.
Cheerful thoughts!
Reads like a Hal Lindsey novel. Scary for sure...
Recall the history of the great empires and societies of the world. They did not collapse all at once but took years of incredible violence and destruction. There is no reason to no believe this will happen here. This is the opening chapter not the closing.
And as to “Revolution” again that is something which takes years, if not decades, to be accomplished. Unless the idea is that Obama is the representative of that Revolution.
I like the idea of tax rebellions!
Where do I sign up?
Kook alert!
I just had this same discussion with a very close friend who has been in business over 40 years and he predicted a Depression also. He has been talking about the economy for a while now really before I was paying much attention to it and was right in all of what he said. He is not a gloom and doomer either. Generally very positive future outlook.
I’m not even attempting to claim that this will happen all at once. But I do think that we’ve already seen that when a collapse occurs, it can happen very quickly.
As one example, I lay a lot of the blame for the housing finance crisis collapse which has caused the rest of the problems on the “Community Reinvestment Act.” It was actually passed under the Carter administration. Bill Clinton dramatically expanded it during the last two years of his administration. And then nearly 10 years later it caused an implosion.
So you’re right. Things often DON’T blow up right away. But governments surely do rise and they surely do fall. We’re on the way to a fall.
Real assets don’t evaporate. They merely change owners. The chicken little panic is generated by the current mismanagers in order to stampede the people into trying to prevent this change of ownership by giving tax dollars to the mismanagers so they can continue to reap ill-deserved rewards.
Failing businesses need to go through chapter 11 bankruptcy so the assets can be redeployed to creditors who will choose new managers. There will be write-downs of prices, but factories, stores, inventories, etc. will be shifted to new hands. Prices and wages will likely have to be cut to speed the readjustment.
The big danger is government interference that impedes readjustment—things like bailouts, card-check unions, tighter regulations will all act to prolong the pain just as similar measures did in the 1930s.
As the chaos erupts and grows in fact what we will see will be a demand for bigger and stronger government. The population is utterly brainwashed and without a clue. Only if they can’t afford their tvs will the masses revolt.
And even Zero is realizing he cannot raise taxes so expect bigger deficits.
I agree that a collapse can happen quickly. We have seen tremendous volatility in the last 6 months. Loss of investor confidence seems is hard to control.
I do not agree with his warnings about tax revolts. The rats have created a tyrrany of the majority in which the masses steal from the most productive. The most productive will respond in ways that enrage the rats even more. They will produce less, employ less, invest less, and work less. The really wealthy will move assets to escape confiscatory taxation. I see even uglier class warfare as the impact of the tax confiscation sinks the economy.
Many factors will contribute to a meltdown. At some point, runaway government spending will cause a crash of the dollar. Trade wars, energy shortages, labor strife, health care shortages, crushing entitlement debt, and massive unemployment may occur.
You did not see how 52% of the voters voted in 2008 then.
They said loud and clear that they wanted to be ruled, not led.
Real assets do not evaporate but wealth does. We have seen at least four trillion in stock market value evaporate in the last year half its value actually.
Since wealth is a variable in consumption functions it presages a huge drop in spending.
It should also be recalled that rarely do global economic disasters come from the real economy they almost always come from the financial side. I would have to think a while to come up with an exception.
If it happens, it won’t be uniform across the country. It will happen big time in the blue counties. The red counties are better prepared for trouble - spiritually and psychologically - and for that matter are better armed.
I say this: it is up to God. He alone is in control. There is one sure way to see something good happen in America. Let us truly seek our God while He may be found. We must also realize in the book of Proverbs chapter 18, it states that life and death are in the tongue...if that is true then we can choose to speak life over the dry bones of what appears impossible for America.
America has been ripe for judgement for a long time. Yet, I remember the grace God has shown because others have chosen to stand in the gap for everyone. We can pray for God to help us, even in the face of what looks bad.
If this guy’s such an economic prophet - hw come I’ve never heard of him before?
BTW, you can subscribe to his newsletter for a mere $99 per year
Real bargain /s
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