The Collapse is the Easy Part
by John Galt
May 31, 2012
Throughout the recent five years of American economic, political, and Constitutional crises the world chugged along with winners and losers selected by fate and foolishness as the erosion of our modern civilization continued from within. This system crash at all levels, morality, financial structure, religion, politics, and the viability of the nations impacted from this disaster is going to lead to some extremely long term changes in the world, some of which will shock the unprepared, and kill the unaware. There is, however, some good news:
The collapse is the easy part.
If one takes a moment to review modern history, the realization that the statement above is not a concoction of a historian from the skeptical point of view, but one of reality. The American people have been living in a bubble since 1991, created by politicians who over reacted to a garden variety slowdown in the business cycle by pressuring a then scheming Alan Greenspan into finding new ways to use the power of the Federal Reserve banking system to inflate and expand economic activity. Based on the charts below, the efforts of the political and financial elites was a resounding success until the end of the century.