• http://www.365black.com/365black/whatis.jsp


• http://www.365black.com/365black/index.jsp

1. DC Cops respond to incidents in Crystal City, Virginia


2. You can leave a hospital on the 3rd floor via elevator, run across the street to a building where you stashed your silence sniper rifle, and shoot the recovering patient all in the time it takes for a journalist to walk from the same elevator to the hospital room.


3. There is plenty of convenient parking in Washington DC
   
   


4. Reporters drink..ALL THE TIME


5. You can learn a lot of useful information from sweaty guys named Vic if you agree to not one, but two dates


6. Even after your best friend sleeps with your wife you can still continue to trust him, and should be astonished if he betrays you again.


7. You can shove a woman during busy morning commute onto the path of a train and there will be zero witnesses to see you do it.
   
   
   
   1. If you plan on shoving a woman onto the path of a train, and there are only 3 blind spots in the cameras in the metro, your victim will automatically stand right in the sweet spot.
   
   
   
   


8. The only purpose of parking garages in movies is for the psycho guy to stalk you. That and car chases.


9. If a story is important enough then people should have newsprint on their fingers when they read it. No need to you know, post it online or anything. It can wait.


10. Editors serve no purpose other than to let their reporters do whatever they want.

"Unfortunately you were given wrong information as was the public," McAllister wrote in the e-mail "All I have to say to you is Philip is a beautiful person inside and out and could not hurt a fly! A police officer in Boston (or many) is trying to make big bucks by selling this false story to the TV stations. What else is new?? Philip is an intelligent man who is just trying to life his life so if you could leave us alone we would greatly appreciate it. We expect to marry in August and share and wonderful, meaningful life together."

http://www.boston.com/news/local/breaking_news/2009/04/bu_student_char.html

• The capitalists generate their wealth by exploiting employees. An employee is not paid according to the true worth of his labor but according to what the employer is willing to pay him. The employer pays him less than what his labor is worth so that the employer can make a profit when he sells the produce.


• Wealth and unequal distribution can create social problems (such as higher crime rates).


• Government interference in markets can be skewed to benefit the wealthy. In particular, wealthy people have the financial means and incentives to influence or corrupt government officials and to lobby for favorable legislation.


• Many people have little wealth left over after living expenses, so they can't make it grow quickly. This further deepens the disparity between rich and poor.


• Persistent long-term inequality of wealth undermines the motivation of the poor to improve their stance. This creates not only direct but perpetual sociological inequity.


• Wealthy people save relatively more than poor people. Hence some economists believe that an unequal distribution of wealth undermines an economy's mass buying power, effectively leading to lower aggregate sales, reduced wealth production, unemployment and crises.


• Wealth is defined and judged incorrectly, in many different ways. In particular, people may attach value to things for seemingly irrational reasons (sentimental value). Some may also value spiritual development more than material wealth. Capitalism's focus on absolute monetary value thus undermines the legitimacy of alternate paradigms.


• The wealthy may not put their wealth to productive use. For example, they may buy land just to deny access to it to others, for personal or environmental reasons. They may buy out other companies that produce better products but are a competitor, and then sit on the product not allowing it to be released to the public.


• When everything is done for profit, it creates immoral systems. For example, healthcare is currently for-profit. As a result insurance companies will seek whatever means possible to deny expensive care to people to maximize their profit. People who are poor can not afford health care and have a lower quality of life as a result. Many life-saving operations such as organ transplants are so expensive few can afford them and die instead.


• The disparity between the laborer and the employer is enormous. Currently many executives earn over 500 times what their employees earn.


• Companies can easily circumvent moral hazard of bad decisions by being 'too big to fail'. The company is so large and employs so many people that if it were to fail the entire nations economy would plunge. The companies can use this is blackmail to the Government forcing the government to grant large bailouts. This therefore encourages exploitative and damaging investments and tactics by companies.


• Capitalism encourages debt. Laborers are granted access to loaned money with interest, and encouraged to purchase large items they can not afford to purchase with cash like a house or a car or an education, and then enslaved to that debt for 30 years or more. By the time the debt is paid off the total money repaid is often times more than twice what was borrowed.


• Capitalism does not care about individual people, only profit. As a result many companies try to get as much labor as possible from as few people as possible, ideally eliminating employees all together. The drive for cheaper labor to maximize profits results in labor being imported from overseas, which takes away jobs from those who live within the capitalist nation.


• Capitalism encourages people to seek careers in whichever field generates the most income. Thus someone who would have been a promising teacher instead becomes an investment banker solely for the money. People do what pays the most, not what they love the most, or what they are naturally talented at. Vital work for social health such as teachers, social workers, librarians, are paid the least.


• Capitalism discourages the pursuit of pure science. Funding is easy to find for profitable fields such as baldness treatment, impotence, obesity, skin care and other cosmetic issues, while funding for pure sciences such as theoretical physics, space exploration, etc are much harder to obtain.


• Capitalism encourages people to seek to amass wealth and possessions rather than to help their fellow man or society. It breeds selfishness and discourages selflesness. There is no profit in helping those who have no means to repay you.


• Capitalism displaces justice. The wealthy can afford more talented lawyers and buy their way out of excessive jail time or punishments. They can afford higher fines and fees. The poor can not afford good legal defense and suffer harsher sentences as a result.

After your passenger spends 4 hours getting past airport security ("I Love Freedom" T-shirt draws extra attention from security) you can have your character attend a George Bush rally from behind the 1st amendment barbed wire fencing 3 miles from Bush's appearance where your character will be maced and beaten for being there. Then, to complete the trifecta of freedom your character can travel to the U.S.- Mexico border and help build the border fence while patrolling for hordes of brown skinned devils trying to sneak into our country and cut our grass.

I hear Playmobil is coming out with a waterboarding torture set. I think I'll wait for that and buy them together to save on shipping.

While I'm sure your child will love this do we really want to reveal our security secrets to the terrorists? I bet al-Qaeda is training the next generation with this very product. I am saddened to learn that Playmobile hates America.

I suggest that Playmobil stamp "Arbeit Macht Frei" above the passenger portal on this item.

Conclusion

The Bad

The Good

Elaborations (has some spoilers)

Tangent on Excessively Long Movies

Back to the Review

1. The Father of the penguin in Batman returns wasn't the only guy who deserted his son because he was UGLY.


2. twirling head-on into the middle of the street without heeding traffic is a perfectly safe activity that only bad luck could turn into tragedy.
   


3. You can inherit a factory without ID.


4. Aging makeup still sucks


5. German submarines are no match for rickety tin tugboats


6. If you get shot several times by heavy machine gun through vital organs, you will still have enough time to say something really profound before you die.


7. Just because its 2009 does not mean we can not use the old 'Magical Negro' story device.


8. When your wife starts to show signs of age, abandon her and your newborn baby to ride a motorcycle and wash clothes in India, then return years later for some sex.


9. Dogs can live to be 30 years old


10. Even after being born with a fantastic mutation that reverse ages you, you can still lead a very boring, unremarkable life.

Review Details

What I love

• Full, easy to type on keyboard


• Touchflo 3D


• Opera Browser is fantastic


• VGA high res screen


• No need for Stylus


• It has a stylus


• ability to heavily modify, device is not as padlocked as iphone


• Sprint GPS with turn-by-turn directions, extremely fast lock and accurate


• Built in AIM, Yahoo, MSN chat clients that parse URLs


• Weather animations in touchflo 3D


• SD card can be hot swapped


• Came with high quaility screen protector, tons of accessories


• Phone is tiny!


• Phone is FAST, it really feels like a handheld laptop capable of just about anything


• installing and uninstalling programs is very very easy

What I didn't love, but managed to fix within 24 hours

• Low speaker volume in phone calls (loaded a tweaked sound modification, now its PERFECT)


• Slow SD card navigation


• Sprint branded UI (I removed sprint logo and all sprint crap)


• Locking is boring (I loaded a slide-to-unlock program just like iphones feature)


• Screen does not always rotate (loaded a file to make this work in everything except touchflo 3D)


• Did not come with car charger (bought one for $7)


• Boring looking contact list (loaded iContact for an iphone-like contact list)


• File explorer does not give you the kind of power you'd need to copy lots of files, rename etc.


• Calendar is boring


• Opera kept taking me to mobile versions of website

What I didn't love but I can't fix

"Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are ruined. The great object is that every man be armed. Everyone who is able may have a gun."
- Patrick Henry

"Militias, when properly formed, are in fact the people themselves and include all men capable of bearing arms."
- Trench Coxe

"What, Sir, is the use of a militia? It is to prevent the establishment of a standing army, the bane of liberty.... Whenever Governments mean to invade the rights and liberties of the people, they always attempt to destroy the militia, in order to raise an army upon their ruins."
- George Mason

"To preserve liberty, it is essential that the whole body of the people always possess arms and be taught alike, especially when young, how to use them."
- Richard Henry Lee

"Those who hammer their guns into plowshares will plow for those who do not."
- Thomas Jefferson

"The best we can help for concerning the people at large is that they be properly armed."
- Alexander Hamilton

"What country can preserve its liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance. Let them take arms."
- Thomas Jefferson

"Laws that forbid the carrying of arms...disarm only those who are neither inclined or determined to commit crimes. Such laws only make things worse for the assaulted and better for the assassins; they serve to encourage than to prevent homicides, for an unarmed man may be attacked with greater confidence than an armed man."
-Thomas Jefferson

"Firearms stand next in importance to the Constitution itself. They are the people's liberty teeth and keystone... the rifle and the pistol are equally indispensable... more than
99% of them by their silence indicate that they are in safe and sane hands. The very atmosphere of firearms everywhere restrains evil interference. When firearms go, all goes,we need them every hour."
- George Washington

An assault rifle is a selective fire rifle or carbine firing ammunition with muzzle energies intermediate between those typical of pistol and high-powered rifle ammunition. Assault rifles are the standard small arms in most modern armies, having largely replaced or supplemented larger, more powerful battle rifles, such as the World War II-era M1 Garand and SVT-40. Examples of assault rifles include the AK-47, the M16 rifle, and the Steyr AUG.

Semi-automatic rifles, though confusingly classified in the USA as assault weapons by the now defunct 1994 Assault Weapons Ban, are not assault rifles as they are not selective fire. Belt-fed weapons or rifles with fixed magazines also do not meet the definition of an assault rifle.

Some Cool User Created Maps

Little Big Planet Humor

WASHINGTON, DC–Mere days from assuming the presidency and closing the door on eight years of Bill Clinton, president-elect George W. Bush assured the nation in a televised address Tuesday that "our long national nightmare of peace and prosperity is finally over."

During the 40-minute speech, Bush also promised to bring an end to the severe war drought that plagued the nation under Clinton, assuring citizens that the U.S. will engage in at least one Gulf War-level armed conflict in the next four years.

On the economic side, Bush vowed to bring back economic stagnation by implementing substantial tax cuts, which would lead to a recession, which would necessitate a tax hike, which would lead to a drop in consumer spending, which would lead to layoffs, which would deepen the recession even further.

"For years, I tirelessly preached the message that Clinton must be stopped," conservative talk-radio host Rush Limbaugh said. "And yet, in 1996, the American public failed to heed my urgent warnings, re-electing Clinton despite the fact that the nation was prosperous and at peace under his regime. But now, thank God, that's all done with. Once again, we will enjoy mounting debt, jingoism, nuclear paranoia, mass deficit, and a massive military build-up."

"After eight years of relatively sane fiscal policy under the Democrats, we have reached a point where, just a few weeks ago, President Clinton said that the national debt could be paid off by as early as 2012," Rahway, NJ, machinist and father of three Bud Crandall said. "That's not the kind of world I want my children to grow up in."

"Much work lies ahead of us: The gap between the rich and the poor may be wide, be there's much more widening left to do. We must squander our nation's hard-won budget surplus on tax breaks for the wealthiest 15 percent. And, on the foreign front, we must find an enemy and defeat it."

Here is a timeline I put together:\

• Feb 13 2008
  
  
  
  • Feds give taxpayers $168 billion (stimulus package) in a desperate attempt to boost the economy
  
  
  
  


• Feb 17 2008
  
  
  
  • Northern Rock goes belly up, Bank of England bails it out for $47 billion of British taxpayer money
  
  
  
  


• Mar 16 2008
  
  
  
  • Bear Stearns goes belly up, J.P. Morgan Chase buys it for $1.2 billion. Feds finance this deal with taxpayer money.
  
  
  
  


• May 2008
  
  
  
  • Feds infuse banks with over $260 billion in capital in an attempt to keep them afloat.
  
  
  
  


• Sept 7 2008
  
  
  
  • Fannie Mae and Freddie Mac fail, are bought out by the federal government with over $200 billion of taxpayer money
  
  
  
  


• Sept 14 2008
  
  
  
  • Merryl Lynch goes belly up, Bank of America buys it for $50 billion
  
  
  
  


• Sept 15 2008
  
  
  
  
  • Single largest bankruptcy in recorded history (158 year old Lehman Brothers)
  
  
  
  


• Sept 16 2008
  
  
  
  • AIG, largest insurer in the world goes bankrupt. Federal government bails it out for $85 billion of taxpayer money
  
  
  
  


• Sept 24
  
  
  
  • Washington Mutual (120 year old WaMu) goes bankrupt. Single largest bank failure in US history. Talks still ongoing regarding saleof its assets.
  
  
  
  


• Sept 29 2008
  
  
  
  • Single highest point drop to the stock market in recorded history, $1.2 TRILLION is lost in a single day.
  
  
  • Single Largest government bailout package in recorded history is brought for approval
  
  
  • Bradford & Bingley goes belly up, is bought out by Spanish bank Santader for £612 million.
  
  
  • Desperate US Gov increases available Term Auction Facility to $300 billion
  
  
  • Wachovia goes belly up, is purchased by CitiGroup for $2.2 Billion
  
  
  
  

What will Happen in the great depression of 2008/9

We are now a full year into the credit implosion that started with the collapse of two Bear Stearns hedge funds in Summer of 07. So many dimensions of the world economy have changed dramatically for the worse since that pivotal event…

We can outline many aspects of a disintegrating world economy since Summer 07. But one huge dimension seems to stand out, the dim prospects for the USD going into 09. As we know, the USD has become the key currency to the world economy since WW2. There are several reasons, but one was that the USD was used to stabilize the European currencies during WW2. Following that war, the US became the center of a burgeoning world consumer economy. What happens when the USD is no longer the center to the world economy? That means the end of roughly a century of US economic and currency dominance. That is our discussion.

Since the end of WW2, what was once a boon to the world economy, the USD, is now in a catch 22.  The vast interlinked world economy based on a consumer bubble that we are all used to, that generated unprecedented wealth, is going through a radical transformation as the USD falters. The demise of a consumer bubble based on credit since WW2 is faltering, and the USD is suffering from abuses in the credit system and in the US fiscal situation. The pillar of world commerce since WW2 is faltering. All those James Bond movies you saw celebrated the post WW2 world that grew out of the world USD prosperity bubble (the lifestyle u saw in those movies).

In part one of Dangers, Danger period 2008 and 2009, we discussed some ominous dangers that emerged in 2007 and 2008, and will continue to get worse in 2009. These included the US/Israel- Iran nuclear showdown, the threat of a world financial sell off initiated from a collapsing world credit system, rising world inflation, and rising food and energy prices.

This second part of this ‘Danger’ piece discusses the other main danger, that the USD is faltering, and into 09 has a risk of a major breakdown, if not outright collapse. We have all heard this before, but the difference with now vs the past years is that the US is faced with unprecedented financial disasters that could be putting the final straws on the USD camel’s back.

The implications of a serious USD breakdown to the world economy and financial system are staggering, particularly if you consider that this entire world financial system we are immersed in, from East to West, grew from/with the USD economy in a 50 year world consumer and finance bubble that has built since WW2.

Deconstructing that 50 year economic bubble/system will cause massive economic disruption in the world. The problems the central banks and the world economies are facing, as we speak, to deal with the problems the USD is having now are all related to the shaking of what I call the ‘world USD economic system’. The onset of the world credit crisis in Summer of 07 was the beginning of this latest phase.

Shadow banking system down

The new credit securities markets referred to as the shadow banking system have imploded.  This was the practice of creating credit of all types and then selling it as securities to big investors. This new USD centered way of financing worldwide housing and other credit grew to be 50% of all new credit from 2000 roughly. The collapse of these diverse credit securities led to a severe tightening of credit worldwide, as lenders had to pull back drastically to raise capital they lost in the last year. This credit collapse is affecting all the Western nations, from the US all the way to the emerging Eastern EU economies, and will also affect all the major Asian economies by 09 as well.

At the same time, inflation has exploded in only one year, not only in the Western economies but in Asia, and the commodity economies such as the Mid East to Australia. Inflation is 10% and higher in most of the big world economic zones. That level is not tolerable without a severe reduction in living standards for everyone.

USD at risk this time

The last time the entire world economy had this kind of economic paralysis was in the 1930s during the Great Depression. At that time, the USD was not on the verge of a collapse. This time the USD is on the verge of a collapse, or at least a major devaluation. That means that the US has far less latitude to do fiscal stimulus and bailouts to combat the present economic emergency spreading over the world. The US can only go so far this time with economic stimulus.


Rising inflation is putting pressure on the US trade partner economies which forces them to raise interest rates, and that causes competition to the USD, while the US has to keep rates low to fend off a total financial and economic meltdown. This is boxing in not only the US economy, but our trade partner’s economies and central banks as well. It is very clear that the gigantic financial losses in the US since Summer 07 have spread all over the world as they have become sort of tied at the hip with the US economy, the USD being the world’s main trade currency for the last 50 years.

There are a lot of aspects to presently emerging world stagflation. But, compared to previous Western recessions, there is now a combined Western Bank crisis and, this time, the prospect of a very shaky USD.

In the last great world depression in the 1930s, the big difference from today was that the USD was strong, and even gold backed…and destined to become the world trade currency of the 20th century (20th century was the 1900s). The 21st century is the century of – what, the first global government?

That is not the case today. The USD is not strong. That is going to be a real problem for the world going into 2009. Thus, we have a second major difficulty the world has to overcome, what to do about the USD, to avoid a total financial disaster into 09. The world’s economic weakness right now is only a foretaste of what is to come from a weak USD. A weak and possible collapsing USD means a weak/collapsing world economy.

What this USD situation means today is that the US, with all of Bernanke’s willingness to use inflationary methods to combat debt deflation, is constrained by the problems that heavy inflationary methods will create for the USD going into 2009. Because the US economy is so central to the rest of the world, what limits the US limits the rest of the central banks and their economies. If the USD were not the world reserve currency, most of these problems would be confined to the US economy.

The USD is probably at a limit of stress at this moment, with interest rates at 2% and the ever present need for our trade partners to send about $700 billion a year to us to buy US bonds of all sorts. Bernanke will cut the ground from the USD if he tries any further rate cuts. Our trade partners who are basically subsidizing the USD for their own reasons will balk. Not only that, but inflation in the US in some areas in already more than 10%, such as in food and energy. Any further rate cuts to combat the present financial disaster in the US will only allow an inflation explosion.(Yes, the USD is indeed the world reserve currency, but now that seems funny. It wasn’t funny during and in the 50 years after WW2.)

If the US persists in trying to ‘bail out’ ‘everything’ the USD will collapse. Our treasury officials and the Fed are well aware of this fact. The USD is at an extremity, right now. We are at the limits of unlimited USD expansion since WW2. The US is at a crossroads with the USD system. If the US Treasury and Fed try to bail everything out, the 50 year world prosperity Jig since WW2 is up. I already heard talk by Bernanke that the Fannie Freddie mess might be nationalized.


The bailouts are not just the US. Now, every major economy is talking about massive bailouts. Their currencies will all suffer, and this post WW2 world prosperity boom is just about done for. They are going to bail out their banks, stock markets, bond markets, and economies by debasing all their currencies because they don’t have the political guts to endure a serious world recession. China too….the final result will be horrific.

What would be the outcomes if the USD world financial / economic system fell apart?

Supposing the USD devalued by over 50 to 70% in a year’s time, after endless attempts to save a collapsing world consumer credit economy, we may see:

• First of all, the savings of the US would drop drastically in value. That means everything from savings accounts to pensions would lose much purchasing power, and prices of every necessity would skyrocket.



• Second, our major trade partner’s economies would have to do massive readjustments. They are not in a good position to do that. We can take the present rapidly spreading economic weakness of the EU zone as an example. Asia will not escape either. They will desperately try to keep their currencies from strengthening too much at first as the USD falls. This is why the USD seems to have 9 lives. These attempts to debase along with the USD allow the USD to stay higher than it would.


• World inflation will spiral out of control, lowering standards of living. Other major currencies such as the Euro and Yen will be heavily pressured as well. Until the world figures out how to actually delink from an imploding US economy, they will suffer along with the US’s fate. So far, the delink theory has been shown to be completely wrong. Why? Because the world economy is tied at the hip to the USD (The delink theory is that other strong economies of Asia or the EU will be able to carry the world economy even if the US economy falls apart. So far, that has been completely discredited in this latest world economic slowdown).


• Big geopolitical turmoil as regimes combat out of control food and fuel prices.


• A war in the Middle East over oil. The Iran / Israel situation might also be called a proxy war/struggle over Mid East influence for China, the US, Russia, the EU, and Asia because energy is so expensive.


• A very possible period of insurrection, riots, shortages, and chaos in large US cities. I also believe that the EU and China and India are at risk for this too.



• A 10 year world economic depression, that China in particular cannot tolerate, as the world economy readjusts out of necessity into a totally new form, one that is less global and probably more warlike.


• Debt deflation where a rapidly dropping USD effectively wipes out outstanding debts, while the population struggles merely to exist.


• Vast bank failures in the US and major Western economies, and likely China as well.


• Efforts of world central banks to ‘bail out’ ‘everything’ resulting in their currencies falling drastically in value while inflation skyrockets, until either they learn better, or have hyperinflation and their own currency collapses after the USD falls apart. In effect they will have to either ‘let go’ of the USD or suffer the same fate.



• Stock markets at 10% of where they are now in 3 or 4 years if the USD actually lets go by 50% or more in 09 (nominal stock prices might actually stay higher but the devaluation of the currencies would effectively cut the purchasing power in half anyway.)


• Prices of most essentials effectively 4 times higher, worldwide.


• Big increases in energy and food prices causes many other sectors of world economies to fall apart, as all ‘money’ is used merely to survive.


• Gold at $3000to $5000 plus and oil at $300 plus putting a further huge crimp on world economic growth. Obviously if the USD did a real collapse, say to 10% of its purchasing power now over several years, gold is over $10,000 and in some areas you will buy a decent house for one ounce of gold. Oil will be traded/priced in other currencies, and probably rationed in the US at a cost of $20 or more a gallon. In this case, the present world economy that depends on cheap transportation totally devolves.  Globalization becomes de-Globalization, and China either figures out how to migrate to its own domestic demand or faces a huge collapse of their export economy.


• Severe world currency restrictions and foreign exchange controls. You won’t be able to move your money out of your country. Likely restrictions of withdrawals to monthly limits from bank accounts as governments attempt to deal with currency chaos.



• Rationing of necessities as the world economy enters paralysis and governments have no choice.


• One bright spot for all, the return of employment to local instead of outsourcing. Production and consumption returns to local economies, as it should have been all along. That is a long 20 year process and involves a severe deep economic depression until the world economies/economy is rebuilt from scratch compared to what it is now. Debt repudiation on a massive scale as the world emerges from the ashes (hopefully not real ashes…)


• Many new governments worldwide after revolutions during economic collapses and or wars. Democracies falter worldwide, and more authoritarian governments appear to deal with the chaos as the democracies enter paralysis.

In case you think these outcomes are exaggerated, these are the things that happened after the French Revolution, the fall of the Roman Empire, The fall of the Spanish Empire, the Fall of Byzantium, the fall of the British Empire… etc. The fall of the US economic system, the world USD system, and the US as a superpower won’t be any different. Also, a lot of these outcomes happened during and after the Great Depression of the 1930’s. That all happened commensurate with the decline and fall of the British Empire and Pound that dominated world economies for 200 years, and eventually led to the USD system taking prominence after WW2 and the USD was used to stabilize the European currencies during the war.

How we reached a USD tipping point

After WW2, the US emerged as the dominant world economy and manufacturing power. Because the USD ended up being used to stabilize European currencies during the war, after the war was won the US had a lot of economic clout. Eventually, after running a bunch of fiscal deficits with the Vietnam and Korean and cold wars, the USD started to have pressure to let go of its gold standard. Once the gold standard was abandoned, the recipe was created for the US to use and inflate the USD for any and everything. The US congress happily obliged. This resulted in a world consumer and economic bubble that leads us to our present times. This lead to a simulative USD world economic bubble. The result is our present indebted world economy and its imminent bankruptcy.

The rest of the world economies will try to devalue along with the USD. At some point they will be forced to let go, or they face the fate of the USD losing 50% to 90% of its value.

What will any saver in the world do?

• First of all, your currencies, retirements, bonds and annuities will be severely devalued. Your savings will be severely downgraded in purchasing power. The world governments clearly will not act until they are forced to, as they are weakened. They are going to debase your money to try to delay the inevitable economic retrenchment in a post USD centered world.



• Your primary objective might be to save any wealth you have. You will have to try to keep enough liquid wealth, cash, various currencies to be able to pay bills. You will have to reduce your financial expenses.


• You will have to try to keep wealth in paid off assets, such as non bubble real estate (yes that still exists in most parts of the world) and also maybe in gold or other precious metals. You will have to plan on currency restrictions if things get bad, and limited monthly withdrawals on your accounts, regardless of how much they have in them. You are going to experience your financial accounts being restricted and or frozen in some institutions.


• You are going to have to plan on some place you can live in if you lose your income, or that income is drastically reduced in purchasing power… preferably some modest property that is paid off.


• People will have to deal with fuel and food shortages and high costs.


• People are going to have to give up the idea of getting investment returns since risk is out of sight, and merely keeping what money/wealth they have is most important.



• You must toughen yourselves, regardless of your age or position in life.

If you do these things, you may survive without terrible hardship. But you will find some kind of hardship regardless, because that is what these kinds of times cause for anyone on the planet. You are going to have to tell your loved ones to do the same too. Families will most likely have to live together to survive. You are going to have to tell loved ones ‘no’ at some point if they insist on remaining in the same level that USED to be. This is all happening as we speak.

Then, hopefully, the world regains its economic footing. This all happened worldwide in the 1930’s depression, and it lasted 10 long years.

http://www.marketoracle.co.uk/Article6048.html

If that is true, then the theory I laid out above, that we are witnessing a peak in a parabolic finance/asset/stock bubble of world proportions, is going to pan out. I think the entire credit crisis can be looked at from that perspective. We are merely witnessing the relentless unwinding of the biggest financial bubble in history. And, ominously, this particular bubble has grown from the end of WW2 to the present. That is one HUGE economic bubble, and this one envelops the entire world. This is not just a bubble in one country's economy.



The point of emphasizing it's from the end of WW2 is that we are not talking merely about a banking crisis, or whatever. We are talking about the deleveraging of the greatest economic/finance bubble in history. Once the level of leverage reached 60 to 1, it becomes impossible to stay ahead of the deleveraging, even for central banks. The implications are staggering. Every major economy in the world is involved. The outcomes of deleveraging this monster bubble, represented by the green oval, will be what I term Credit Crisis II. At 60 to 1 leverage, a loss of 1 to 2% wipes out the capital.

What Happened?

The root of the problem

What could happen next

My thoughts