Sipsey Street Irregulars: "World faces wave of epic debt defaults, fears central bank veteran."

Wednesday, January 20, 2016

"World faces wave of epic debt defaults, fears central bank veteran."

The global financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, a leading monetary theorist has warned. "The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up," said William White, the Swiss-based chairman of the OECD's review committee and former chief economist of the Bank for International Settlements (BIS).

7 comments:

Anonymous said...: And to think they mocked Preppers and "conspiracy theorists"....Every time they did, they were merely hiding the truth...Eat up, this is gonna be a supersized shit sandwich...Not thanks, ill pass because I can.

Sign Me, Neal Jensen; January 20, 2016 at 9:07 AM
Anonymous said...: Nice. First they create the situation and then say "Gee wiz, how'd it ever come to this?"; January 20, 2016 at 9:43 AM
Anonymous said...: Today, 20 January 2016 the markets worldwide are in FREE FALL...Asian markets lost up to 750 points, European markets 300 points and the US Dow off 400, oil below 27 a barrel...this is what collapse looks like. how many of you saw it coming? I did, never ever trust an Economist, Politician or a Banker. They are best trusted only when hanging from a light post involuntarily. then they are HONEST.

Sign Me, Neal Jensen; January 20, 2016 at 9:51 AM
Chiu ChunLing said...: Terrifyingly, this expert's opinion is that the only way out is to make an even harder left turn towards socialism.

And he's very nearly correct, insofar as only functionally Communist totalitarian regimes can hope to pull off what he suggests. For governments that have to deal with people who won't simply be rounded up and shipped off on cattle cars for "the greater good", there is no way out.; January 20, 2016 at 11:32 AM
David said...: Hopefully, very soon, being an establishment politician or simply being a member of the corrupt, subversive ruling political class, in many western nations, is about to become really dangerous.; January 20, 2016 at 12:45 PM
Nemesis said...: How much of this is planned and then orchestrated we may never fully know, but I bet George Soros would have the 'goods' on this, just like he has assisted in busting the Bank of England and the 2008 GFC.

I wish this evil person would just fall off his perch!; January 20, 2016 at 3:37 PM
Anonymous said...: Intertemporal smoothing, I had to research that term. Can't raise rates too much, can't inject more QE. Bad, bad, bad.; January 21, 2016 at 12:30 PM

"Progress made under the shadow of the policeman's club is false progress."

I believe that liberty is the only genuinely valuable thing that men have invented, at least in the field of government, in a thousand years. I believe that it is better to be free than to be not free, even when the former is dangerous and the latter safe. I believe that the finest qualities of man can flourish only in free air – that progress made under the shadow of the policeman's club is false progress, and of no permanent value. I believe that any man who takes the liberty of another into his keeping is bound to become a tyrant, and that any man who yields up his liberty, in however slight the measure, is bound to become a slave. -- H.L. Mencken

"The Fate of Unborn Millions. . ."

"The time is now near at hand which must probably determine, whether Americans are to be, Freemen, or Slaves; whether they are to have any property they can call their own; whether their Houses, and Farms, are to be pillaged and destroyed, and they consigned to a State of Wretchedness from which no human efforts will probably deliver them. The fate of unborn Millions will now depend, under God, on the Courage and Conduct of this army-Our cruel and unrelenting Enemy leaves us no choice but a brave resistance, or the most abject submission; that is all we can expect-We have therefore to resolve to conquer or die." -- George Washington to his troops before the Battle of Long Island.

"We will not go gently . . ."

This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can't be done? And if we do not try, it most certainly won't be done. The Founders' Republic, and the larger war for western civilization, will be lost.

But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.

And when we are gone, the scattered, free survivors hiding in the ruins of our once-great republic will sing of our deeds in forbidden songs, tending the flickering flame of individual liberty until it bursts forth again, as it must, generations later. We will live forever, like the Spartans at Thermopylae, in sacred memory.

-- Mike Vanderboegh, The Lessons of Mumbai:Death Cults, the "Socialism of Imbeciles" and Refusing to Submit, 1 December 2008

"A common language of resistance . . ."

"Colonial rebellions throughout the modern world have been acts of shared political imagination. Unless unhappy people develop the capacity to trust other unhappy people, protest remains a local affair easily silenced by traditional authority. Usually, however, a moment arrives when large numbers of men and women realize for the first time that they enjoy the support of strangers, ordinary people much like themselves who happen to live in distant places and whom under normal circumstances they would never meet. It is an intoxicating discovery. A common language of resistance suddenly opens to those who are most vulnerable to painful retribution the possibility of creating a new community. As the conviction of solidarity grows, parochial issues and aspirations merge imperceptibly with a compelling national agenda which only a short time before may have been the dream of only a few. For many Americans colonists this moment occurred late in the spring of 1774." -- T.H. Breen, The Marketplace of Revolution: How Consumer Politics Shaped American Independence, Oxford University Press, 2004, p.1.

Sipsey Street Irregulars

Wednesday, January 20, 2016

"World faces wave of epic debt defaults, fears central bank veteran."

7 comments:

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