It's Getting Scarier Out There Folks

Think recession's bad? Try a cataclysm!

World finances shaken to roots within a year

By Ray Turchansky, For Canwest News Service; Edmonton JournalMarch 15, 2009

There is a growing list of educated people predicting the trillions of dollars spent by governments around the world to stimulate a moribund economy will not work.
There's already Peter Schiff, head of Euro Pacific Capital in Connecticut, and Peter Morici, professor at University of Maryland and former chief economist of the U.S. International Trade Commission. And you can add the name of Allan Brennan, manager of economic analysis and forecasting with the Alberta government's Department of Infrastructure and Transportation.
"Stimulus packages will not help the economy at all," Brennan said in a presentation with Dundee Private Investors branch manager Trevor Hamon. "A lot of money is going to banks, but unless you get that money to consumers, things will not improve."
Brennan said that within a year, we will face a cataclysmic event that will shake world finances to the roots, leading to a major period of either deflation or hyperinflation, either of which will rock the global economy. Just what that event will be, he's not sure.
It could be the failure of eastern European countries, or the collapse of the American dollar. If it causes hyperinflation, investors can prosper by letting stock prices plummet for a couple of months, and then invest in commodities, with copper leading the rebound.
"With deflation, you would end up with a very violent, very short, very deep recession, and within three years you'd start climbing out of that. With inflation, it could go on for 20 years."
Portugal, Italy, Greece, Ireland and Spain are all near bankruptcy. So is the state of California.
Hamon warned that banks have lured people into home-equity lines of credit, and they are now retiring while still in debt.
"In the next couple of years, the art of investing will be not losing your principal," Brennan said. "The way out of this, in the long term, is for people to start saving."
He said the nationalization of banks is inevitable, but it will be done "under the table." He sees the British pound disappearing as an independent currency, the U.S. dollar in peril as the reserve currency, and the euro perhaps splitting into a strong Nordic and weak Latin one.
U.S. banks own 19 million homes through foreclosures, but they haven't put them on the market, knowing it would kill prices. People who save will be able to buy those homes with 25-per-cent down payments.
In the end, Hamon said, we will return to the way we used to live a generation or two ago. That means grandparents living with their children. One-income families. People raising their own children and cutting their own grass.
"There will be a reduction in living standards," Brennan said.

{And this dear reader has been the goal all along. They want to reduce our living standards so we're easier prey for the elites and easier to control. Starving and sick populaces don't rise up against their masters.....)