COLLAPSE OF THE STATUS QUO

Great article by Charles Hugh Smith. The collapse has already begun. Rich people are pulling their money out of stocks, banks, and risk assets; stashing money away somewhere they believe is safe. People have lost faith in the stock market, 80% of which is either manipulated or run by computers. The government is bankrupt, both here and other countries. Banks are insolvent. Economies are slowing and contracting. Cities, states, and countries are facing bankruptcy. It’s already started.

People’s expectations have risen on the massive debt-fueled expansion of standards of living. When meter-maids are paid $100,000 per year, and 60 million other government workers are making a fortune doing nothing of any value, expectations have probably peaked. When tens of millions of people live entirely off the government, don’t work, and get free everything, expectations have again probably peaked. Yet, without credibility, the whole system collapses. The avalanche of lost credibility has already started. Many people that work for a living and are getting killed by taxes and regulations, people that actually contribute and produce, are looking forward to the collapse, for things to return to some semblance of sanity. It won’t be long now. I enjoyed this simple explanation, makes perfect sense to me.

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