US Economy in Final Death Throes
by Henry Shivley
October 8, 2012
I am seeing an interesting phenomenon that has been developing just over the last couple of days. The mainstream propaganda machine has come forth with a lie on the unemployment rate that they know is not believed by anyone. The stock market has been going up; heading towards the point it was at when it crashed in 2008. We know that this rise in the stock market consists of nothing more than a couple trillion dollars in funny money, ink and paper, and digits in computers. It is not real and we are about to find out that in reality it is made up of more of the same toxic derivatives that were used to pump the stock market up in 2008.
Yesterday I saw a piece on Fox News that I found very alarming. It attempted to convince we the igmo people to take money out of our bank accounts and pay off our credit cards. This is highly unusual for this time of year as we are coming up on the harvest, which is the best the economy in the US gets all year long. It is this time of year that the campaign to encourage us to charge more takes off. You know, as in early Christmas shopping.
It is like this. Not if, but when, the runs on banks start, the credit card companies stand to lose a lot of money. When the economy crashes millions more jobs are going to disappear overnight. There will be no paychecks, no unemployment, and no bank accounts after they are frozen. The transfer of wealth will be complete and those left holding IOUs are going to be shit out of luck, and that would be the credit card companies.