Ok kiddies get ready, here it comes..
Global bankruptcy looms, and is made more, not less likely by the continued actions of our chosen leaders. Printing more fake money to lend to us so we spend it and keep turning your damn treadmill just a little longer is so, not going to fix this.
“All truth passes through 3 phases: First, it is ridiculed. Second, it is violently opposed, and Third, it is accepted as self-evident.”
— Arthur Schopenhauer
Well the truth is most certainly out there now, and it’s not good for anybody.. the UK is well and truly f***ed.
Black clouds are gathering above the horizon. The IMF just announced that the world trade collapsed by staggering 45% in the last quarter of last year. Even the euphoria of Obama’s inauguration didn’t last long. The same day Dow closed below 8,000 as banking fears were gripping the European markets and bringing shockwaves from the United Kingdom too. British Banks got a £1TN injection which didn’t prevent RBS shares to plunge 70%. London is faced with a bloodbath. Brown admitted there is not yet a limit on how much risk taxpayers must bear they pass it on . Looks like the Brits are too being set up for the mother of all crashes. With the UK government debt alone and future liabilities not included, this means that every new baby is born with £17,000 debt. Checkmate! UK cannot take Iceland’s soft option, Evans-Pritchard explains: as a result of his rescue plan, but he even promised financial institutions that they will get more cash if
The parallels with Iceland are disturbing. The country was ruined by the antics of its three big banks. They built up foreign liabilities equal to 900pc of GDP. Operating as hedge funds, they borrowed in dollars, euros and pounds to speculate….If Britain walked away from UK banks’ $4.4TN of foreign liabilities – worth eight times Lehman Brothers – it would destroy the credibility of the City and take the whole world into deeper depression… The sovereign debt of Russia, Ukraine, Greece, Italy, Belgium, Austria, The Netherlands, Ireland, Australia, New Zealand and Korea is all being tested by the markets. The core of countries deemed safe is shrinking by the day to a half dozen. Sadly, Britain is no longer one of them. (01/20/09)
As financial illiteracy and corruption are about to engulf the whole planet, some speculate more and more about the meanings of The Mayan 2012 prophecy. One thing is certain though:
it is The End Of The World As We Know It -..or TEOTWAWKI as an acronym frequently used by the doomsayers.
fasten your seatbelt Dorothy it’s going to get rough for a while now.