Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

Read More

E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

Read More

US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

Read More

Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

Read More

Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

Read More

Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

Read More

Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

Read More

World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

Read More

Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

Read More

US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

Read More

FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

Read More

Canadian government admits recovery never happened

Canadian government admits recovery never happened

“Not only did their stimulus fail to create the jobs of tomorrow, it also failed to protect the jobs of today,” Scott Brison, the opposition Liberal Party’s spokesman for finance issues, said by telephone. "Most of us were shaking our heads in disbelief early last year w

Read More

Content By: The Coming Depression Editorial Staff (dates cited below)
Copyright: include link to this article on top of reproduction if you use it.
Bookmark and Share
(No Ratings Yet)
Loading ... Loading ...

no double dipping famous bernanke volcker greenspan lizard

“.. after the tumultuous and very painful times that we are likely to experience in the next few years, the West will have a sustained period of decline. All the excesses in the economy and in society must be unwound. These abnormal and unreal excesses are not just corporate executives, bankers, hedge fund managers or sportsmen earning $10s to $100s of millions but also a total collapse of ethical and moral values as well as a breakdown of the family as the kernel of society.”

The ulta rich need these low rates to continue siphoning off the wealth of the world into their pockets. The poor can’t get the kind of loans needed to capitalize on the low rates. This whole “The economy is fragile” business is just the lie they’re telling to keep it going. When it comes to a head, again, the poor will bail out the banks that enslaved them, again, and the financial smorgasbord will start all over. How long can they lie to the people and get away with it? It’s been a decade, so far. This “financial crisis” is the exact same thing as the stock market mess that caused the “Great Depression”, except this time, it’s unregulated bank speculators instead of unregulated stock speculators.
“Brother, can you spare a dime?”

THERE WILL BE NO DOUBLE DIP….. by Egon von Greyerz – Matterhorn Asset Management

No, there will be no double dip. It will be a lot worse. The world economy will soon go into an accelerated and precipitous decline which will make the 2007 to early 2009 downturn seem like a walk in the park. The world financial system has temporarily been on life support by trillions of printed dollars that governments call money.

[mp3player width=540 height=100 config=fmp_jw_widget_config.xml playlist=gerald-celente.xml file=2]

The effect of this massive money printing is ephemeral since it is not possible to save a world economy built on worthless paper by creating more of the same. Nevertheless, governments will continue to print since this is the only remedy they know. Therefore, we are soon likely to enter a phase of money printing of a magnitude that the world has never experienced. But this will not save the Western World which is likely to go in to a decline lasting at least 20 years but most probably a lot longer.

Debt-to-GDP-chart-13.8.10

The End of an Era

The hyperinflationary depression that many western countries, including the US and the UK, will experience is likely to mark the end of an era that has lasted over 200 years since the industrial revolution. A major part of the growth in the last 100 years and especially in the last 40 years has been built on an unsustainable build-up of debt levels. These debt levels will continue to swell for another few years until the coming hyperinflation in the West leads to a destruction of real asset values and a debt implosion.

In the last 100 years the Western world has experienced a historically unprecedented growth in production, in inventions and technical developments leading to a major increase in the standard of living. During the same period government debt, as well as private debt have grown exponentially leading to a major increase in inflation compared to previous centuries. Read the rest from Egon.

Related posts:

  1. Will we see double digit interest rates from the 1980s?“And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name...
  2. World headed for second recession, or double-dip depression“When the Great Depression started after it [market crash of 1929], it’s thought that politicians actually started the Great Depression by putting through too many rules and regulations…” — CBC’s...
  3. South African experiences double dip or depressionary economy“The major risk facing the sub-Saharan economies is that the world economy could experience a double dip or economic stagnation,” the study says. Share International Magazine has been publishing on...
  4. Double dip really means depressionOne of the fundamental problems is that the central government, the central bank, and the commercial banking sector are the three essential components to “managing” an economy. The first two...
  5. Pento Sees `Double-Dip Recession’ in USMichael Pento, chief economist at Delta Global Advisors, talks with Bloomberg’s Margaret Brennan about the outlook for the U.S. economy and investment strategy. Pento says the Federal Reserve is keeping...
  6. Lawyers, politicians ‘perfect storm’ for foreclosure crisis, subsequent double-dip“Home buyers looking to buy out of foreclosures will step back from the market. Mortgagors considering strategic default will see less risk in doing so, thus leading to more defaults....

This entry was posted on Monday, August 16th, 2010 at 4:08 pm and is filed under North America. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Comments

  1. August 16, 2010 @ 7:16 pm


    China’s recent emergence as the largest energy consumer and second largest economy in the world will be a game changer for the world’s economy. With China’s $2.45 trillion foreign reserves, they will be the economic driver for the entire world. As we have already seen, they will be buying up resource companies around the world in an effort to control their energy destiny. The United States with its multi-trillion dollar debt will simply be unable to compete and it is likely that this inability will constraint their ability to grow their own economy.

    http://viableopposition.blogspot.com/

    Posted by Viable Opposition
  2. August 17, 2010 @ 7:42 pm


    Oh Canada! Our Bought & Sold Out Land (2009)
    http://wideeyecinema.com/?p=7038

    This film explores the history of banking, the selling out of the prosperity of Canada, the clearance sale of Canadian businesses and the political liquidation of public infrastructures to the multi-national corporate oligarchy. How has this led to the biggest economic crash / recession / depression in Canadian history? Could it have something to do with our politicians listening to international bankers and corporations instead of the people Canada? How does the Canadian banking system really work? How does the central Bank of Canada compare with the American Federal Reserve?

    This movie presents these issues that affect every Canadian from the perspective of and delivered by concerned youth in a astute and colourful manner. This is a serious journalism piece that asks the tough questions directly to such politicians as Former Prime Minister of Canada Paul Martin, Canadian Finance Minister Jim Flaherty, Green Party Leader Elizabeth May, Ontario Gas Man Dan McTeague, NDP Leader Jack Layton, Mayor of Oshawa John Gray, Former Prime Minister of Canada John Turner and many more!

    Posted by Allan

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.


Under the 'fair use' rule of copyright law, an author may make limited use of another author's work without asking permission. Fair use is based on the belief that the public is entitled to freely use portions of copyrighted materials for purposes of commentary and criticism. The fair use privilege is perhaps the most significant limitation on a copyright owner's exclusive rights. "