20 reasons Global Debt Time Bomb explodes soon

[LMT42]

Retire? You can fuggetaboutit if the new Global Debt Time Bomb is detonated by any one of 20 made-in-America trigger mechanisms.

Yes, 20. And yes, any one can destroy your retirement because all 20 are inexorably linked, a house-of-cards, a circular firing squad destined to self-destruct, triggering the third great Wall Street meltdown of the 21st century, igniting the Great Depression II that George W. Bush, Ben Bernanke, Henry Paulson and now President Obama have simply delayed with their endless knee-jerk, debt-laden wars, stimulus bonanzas and bailouts.

http://www.marketwatch.com/story/our-debt-time-bomb-is-ready-to-go-ka-boom-2010-02-02

I'm just wondering if it'll be an orderly descent into third world status or an overnight type collapse....

[R.P.]

Now is the time to stock up on essentials like weapons, ammo, and non perishable items, and scrap the swimming pool and the granite countertops that your wife may want!

[Outlander Systems]

Retire? You can fuggetaboutit if the new Global Debt Time Bomb is detonated by any one of 20 made-in-America trigger mechanisms.

Yes, 20. And yes, any one can destroy your retirement because all 20 are inexorably linked, a house-of-cards, a circular firing squad destined to self-destruct, triggering the third great Wall Street meltdown of the 21st century, igniting the Great Depression II that George W. Bush, Ben Bernanke, Henry Paulson and now President Obama have simply delayed with their endless knee-jerk, debt-laden wars, stimulus bonanzas and bailouts.

http://www.marketwatch.com/story/our-debt-time-bomb-is-ready-to-go-ka-boom-2010-02-02

I'm just wondering if it'll be an orderly descent into third world status or an overnight type collapse....

The term for the trigger of the collapse, as I see it, is "Cascading Cross-Defaults".

I'm still on the fence about the "how" it will all unfold. It's either going to be a slow grind or a fast crash, but I personally lean more towards a painful, brutal, inevitable, ongoing, massive decline of our standard of living over the course of many years.

That being said, there's plenty of trigger events that could cause the accelerator to stick. The situation in Europe with the "PIGS" nations isn't looking too swell either.

When the powers-that-be bandy about absolutely Orwellian terminology like "jobless recovery" and "green shoots", it tells me that control of the situation is lost, and it's all PR/Image management at this point.

The main factor of my tendency to lean towards a slow grind, is that, like a three-pointer before the buzzer, the banksters manage to pencil-whip up some new law, some new, exotic technique, or just quite frankly manipulate the rules on a Sunday night, and it's a new game on Monday; a band-aid, just in time to stop the trauma.

:rolleyes:

At this point, the markets are so rigged its disgusting. I wouldn't touch 'em with a ten-foot pole. It's like playing poker, and the dealer rewrites the rules in the middle of playing your hand.

As stated recently by John Williams, unlike the rest of us, the government has this amazing device, called the printing press, that allows them to pull all sorts of sleight-of-hand. Can't sell your bonds? **** it, buy 'em yourself. It's a monumentally masturbatory cluster****. Debt monetisation? More Orwellian double-speak.

As long as fiat money exists, we will experience volatility in the economy due to the elastic nature of money. Fiat money, and it's demon-spawned offspring, inflation, have fueled an unsustainable path through the "infinite growth" model. It goes against the laws of the universe, yet its a path that's mindlessly pursued.

At any rate, I've been subscribing to John Greer's "Catabolic Collapse" model:

About catabolic collapse...


"To visualize the cycles of descent that this model (catabolic collapse) suggests, the descent of this civilization, (as with most others) will likely display a gradual arc downward, much like that of a "roller coaster ride", viewing it from a distance. Imagine for a moment, a roller coaster cart (representing civilization) going down the tracks, lasting for 200 years of decline, in time. At the peak (when the civilization is at it's height and begins to decline), the roller coaster cart begins it's descent, it falls for a period of time, comes to a "bottom" then proceeds to make a climb to the next level or hill. The coaster cart then crests that peak (at a lower level from the one preceding it) and begins to make another fall, bottoms, climbs (there may be little "bumps" along the way) to another peak at yet another lower level, and on and on. Another example, may be that of a sledder, starts the slide at top of a mountain, slides into a gully, proceeds up the next hill. The sledder crests that hill and slides through the next gully, through some bumps and up the next hill and back down again and proceeds through this process (or series of hills), all the way down the mountain...

[GermanSynergy]

I'm not worried. The TV told me that everything is going to be okay! :cool: J/K