Economic Armageddon Seen As Imminent

Thursday, October 20, 2011
By Paul Martin

Monte Pelerin

Suddenly it is getting crowded in the world of those predicting economic armageddon. In a sense, that is comforting for those of us who were early and few. Once relegated to the lunatic fringe, it appears as though this view is expanding, possibly even going mainstream.

That more are calling for a terrible ending to the crisis does not ensure that it will occur. It does however make those of us who were mostly alone early on appear less crazy. Some of the predictions below suggest we may be approaching an economic equivalent to a Return to the Planet of the Apes.

Kudos to Michael Snyder of Economic Collapse for providing the 12 quotes shown toward the end of this piece. Two quotes struck me as bracketing the range of views:

George Soros believes that:

“financial markets are driving the world towards another Great Depression with incalculable political consequences.”

No problem there, but he seems to believe that proper actions by authorities can prevent this ending. It is unlikely; the point of no-return was passed about five years ago. There is nothing that can be done by governments (other than to make things even worse) to avoid the Great Depression ending.

Ann Barnhardt is more decisive It’s over:

There is no coming back from this. The only thing that can happen is a total and complete collapse of EVERYTHING we now know, and humanity starts from scratch. And if you think that this collapse is going to play out without one hell of a big hot war, you are sadly, sadly mistaken.

The Rest…HERE

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