Not being from a financial background Ive been watching the growing economic train wreckage pile up with a mixture of amazement, bewilderment and growing horror, but with an underlying confusion at the multiple and myriad terms and acronyms tossed around in the news as though we should all know what these things mean.
Being a lifelong cynic / skeptic, I am well aware that we (the stupid public) are generally only fed the best case scenarios about the bad things happening, through the (heavily biased and influenced) media by those who truly understand the situations, and generally with as much self-serving spin on it as they can manage to serve up for public consumption and attempt to get past the other “experts” who also (at least partially) understand the situation.
So it tends to be that I usually assume there’s more to things, it runs deeper, and is probably far worse than we are actually being told, especially when any of our lying cheating corrupt Governments have had anything to do with the news or information.
So I have been very grateful for this particular website www.themarketoracle.co.uk (from where the picture above is taken) over the last few months, because they have a habit of managing to explain these things in more layman’s terms that financial simpletons like me can understand.
HOWEVER, I’ve been kind of following their commentary, and events with a growing sense of dread, because slowly, bit by bit, as they explain the real truth behind the situations we are seeing publicly, warn what is to come, how bad it will get etc, and then a week or two later, things they have predicted happen, it becomes clearer and clearer, that even though they often tend to look on the less optimistic side of things, they clearly know what they are talking about, all too well.
Take for example a post a few weeks back about a theoretical discussion between The Bush (and advisors) and the heads of Fannie May & Freddie Mac. The article works through the problems these companies have been having, and ends up saying that the US Govt will be ultimately be faced with 2 choices..
a) bail them out with tax payers money
b) let them face their music and die..
and that if the Govt take option (a) we are effectively all fucked… (read the article) ..So, when 3 weeks later, the US Administration take option (a)… …Oh shit….
So finally getting to the point of this post now, – when this morning I read the post that the picture above comes from – click the picture to go the the original post, my blood ran cold..
If this is what it’s actually all about, and these guys have been pretty bang on with their assessments so far, so I’m about willing to entertain that they aren’t just making this shit up, and are probably saying the things our beloved fucking leaders wont ever tell us, until their onto the private jets and away to their financial fallout shelters as it all explodes behind them..
..well, if this is what it’s about, we are well and truly all fucked, and all this (previously) seemingly over dramatic talk of the collapse of the world economies may not be such scaremongering and sensationalism after all.
The amount of money that we are talking about here is just astonomically, mind-blowingly, impossibly fucking huge, it makes the $700 Billion bailouts being talked about look like penny tips for the porter.
$68 Trillion Dollars is the estimated size of this financial foolishness that no one is talking about, and hoping may just go away.
That’s approximately 1000 times the size of the proposed bailout, and bigger than the total US economy, by 5 times – it’s 2/3 of the size of the total world stocks and shares markets.
$68, 000,000,000,000 !!!!
I seriously recommend you check out The Market Oracle, and then invest in food, bullets or whatever else you may need to survive the next five years.
..Try to picture it as, well, life without money as we currently know it.