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Greece
Greece
by
Chris Martenson
Executive Summary
- Which countries are next in line to "go Greek"?
- Which major countries will be hit by deflation next? Which will instead see massive inflation?
- How individuals should start preparing
- Why huge massive losses and wealth transfer are inevitable for many
If you have not yet read Part 1: Greece Exposes The Global Economy's Achilles Heel, available free to all readers, please click here to read it first.
At a high level, the suite of predicaments we face are as obvious as they are serious.
Perhaps the largest predicament we face is that infinite economic growth on a finite planet is an impossibility and yet that's exactly what our monetary and banking systems require.
Not merely because the bankers and politicians want it, which they do, but because that's how the system itself is designed. When you loan money into existence, you get an exponential increase of that money over time. Actually you get an exponential increase in debt too, only at a faster pace which translates into larger quantities.
For as long as debts are growing at an exponential pace, everything is fine with the world, the economy hums along, politicians get re-elected and the big banks churn out profits year after year.
However, when the debt growth stops, financial panic sets in, the banking system threatens collapse, and the fiscal and monetary authorities pull out all the stops in their efforts to prevent these various ills from getting any worse.
What the political and banking folks are desperately seeking to prevent is nothing less than a Great Unraveling.
Their task is impossible.
The Great Unraveling will be a set of related economic and financial crises that end up taking inflated expectations and reducing them to match reality. Perhaps this process will take years, or maybe it will take decades, or maybe it will take months. Nobody knows. But the longer that…
The Approaching Great Unraveling – Are You Prepared?
PREVIEW by Chris MartensonExecutive Summary
- Which countries are next in line to "go Greek"?
- Which major countries will be hit by deflation next? Which will instead see massive inflation?
- How individuals should start preparing
- Why huge massive losses and wealth transfer are inevitable for many
If you have not yet read Part 1: Greece Exposes The Global Economy's Achilles Heel, available free to all readers, please click here to read it first.
At a high level, the suite of predicaments we face are as obvious as they are serious.
Perhaps the largest predicament we face is that infinite economic growth on a finite planet is an impossibility and yet that's exactly what our monetary and banking systems require.
Not merely because the bankers and politicians want it, which they do, but because that's how the system itself is designed. When you loan money into existence, you get an exponential increase of that money over time. Actually you get an exponential increase in debt too, only at a faster pace which translates into larger quantities.
For as long as debts are growing at an exponential pace, everything is fine with the world, the economy hums along, politicians get re-elected and the big banks churn out profits year after year.
However, when the debt growth stops, financial panic sets in, the banking system threatens collapse, and the fiscal and monetary authorities pull out all the stops in their efforts to prevent these various ills from getting any worse.
What the political and banking folks are desperately seeking to prevent is nothing less than a Great Unraveling.
Their task is impossible.
The Great Unraveling will be a set of related economic and financial crises that end up taking inflated expectations and reducing them to match reality. Perhaps this process will take years, or maybe it will take decades, or maybe it will take months. Nobody knows. But the longer that…
by
charleshughsmith
In my previous series on the erosion of community, I surveyed a number of conventional explanations for this decades-long trend and discussed 10 other potential factors in the decline of social capital. I concluded that economic need would likely be the driver of a resurgence of community—a need that will only become apparent when the Central State and the debt-based, consumerist-corporate system are no longer able to fulfill their implicit promises of welfare, subsidies, endless credit and secure jobs. In this next installment on community, we look at the possibility that new models are arising beneath the mainstream media’s master narratives that Everything’s fine and The Status Quo is both good and eternal.
The Rise of New Models of Community
by charleshughsmithIn my previous series on the erosion of community, I surveyed a number of conventional explanations for this decades-long trend and discussed 10 other potential factors in the decline of social capital. I concluded that economic need would likely be the driver of a resurgence of community—a need that will only become apparent when the Central State and the debt-based, consumerist-corporate system are no longer able to fulfill their implicit promises of welfare, subsidies, endless credit and secure jobs. In this next installment on community, we look at the possibility that new models are arising beneath the mainstream media’s master narratives that Everything’s fine and The Status Quo is both good and eternal.
by
Chris Martenson
For years we've preached the From the Outside In principle of markets: When trouble starts, it nearly always does so out in the weaker periphery before creeping towards the core.
We saw this in the run-up to the housing bubble collapse, as sub-prime mortgages gave way before prime loans, and in Europe, as smaller economies like Greece, Ireland, and Cyprus have fallen first and hardest (so far). We see this today in accelerating food stamp use among poorer U.S. households. In each case, the weaker economic parties give way first before being followed, over time, by the stronger ones.
Using this framework, we can often get several weeks to several months of advance notice before trouble erupts in the next ring closer to the center.
Which makes today notable, as we're receiving a number of new warning signs. The periphery is giving way.
The Periphery is Failing
by Chris MartensonFor years we've preached the From the Outside In principle of markets: When trouble starts, it nearly always does so out in the weaker periphery before creeping towards the core.
We saw this in the run-up to the housing bubble collapse, as sub-prime mortgages gave way before prime loans, and in Europe, as smaller economies like Greece, Ireland, and Cyprus have fallen first and hardest (so far). We see this today in accelerating food stamp use among poorer U.S. households. In each case, the weaker economic parties give way first before being followed, over time, by the stronger ones.
Using this framework, we can often get several weeks to several months of advance notice before trouble erupts in the next ring closer to the center.
Which makes today notable, as we're receiving a number of new warning signs. The periphery is giving way.
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