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Entering the Greatest Depression in History

More Bubbles Waiting to Burst

by Andrew Gavin Marshall

http://globalresearch.ca/index.php?context=va&aid=14680

The Bailout Bubble

While the bailout, or the “stimulus package†as it is often referred to, is getting good coverage in terms of being portrayed as having revived the economy and is leading the way to the light at the end of the tunnel, key factors are again misrepresented in this situation.

At the end of March of 2009, Bloomberg reported that, “The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year.†This amount “works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.â€[10] SNIP

As explained in a Times article in June of 2009, Germany has been deceitful in its public stance versus its actual policy decisions. The article, worth quoting in large part, first explained that:

Europe is now in the middle of a perfect storm - a confluence of three separate, but interconnected economic crises which threaten far greater devastation than Britain or America have suffered from the credit crunch: the collapse of German industry and employment, the impending bankruptcy of Central European homeowners and businesses; and the threat of government debt defaults from loss of monetary control by the Irish Republic, Greece and Portugal, for instance on the eurozone periphery. SNIP

The BIS has said, in softened language, that the stimulus packages are ultimately going to cause more damage than they prevented, simply delaying the inevitable and making the inevitable that much worse. Given the previous BIS warnings of a Great Depression, the stimulus packages around the world have simply delayed the coming depression, and by adding significant numbers to the massive debt bubbles of the world’s nations, will ultimately make the depression worse than had governments not injected massive amounts of money into the economy.

After the last Great Depression, Keynesian economists emerged victorious in proposing that a nation must spend its way out of crisis. This time around, they will be proven wrong. The world is a very different place now. Loose credit, easy spending and massive debt is what has led the world to the current economic crisis, spending is not the way out. The world has been functioning on a debt based global economy. This debt based monetary system, controlled and operated by the global central banking system, of which the apex is the Bank for International Settlements, is unsustainable. This is the real bubble, the debt bubble. When it bursts, and it will burst, the world will enter into the Greatest Depression in world history.

I am definitely going to buy lots of tinned fish, beans and bottled water.... :(

Edited by Dubai

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Guest The Relaxation Suite
I am definitely going to buy lots of tinned fish, beans and bottled water.... :(

This is more about a restructuring of the global economy than the end of the world. There's a neat little video going round SE Asia of three drunk English prats mocking a 76 year-old Singaporean rickshaw driver for not pedalling fast enough. Then they refuse to pay him, etc.

This will look very odd to future generations that will be more used to English people trying to get the grades and experience to emigrate to Asia so they can earn the big bucks. All the money is going East - that's where the labour is, it's where the initiative is, and most important it's where the passion is. The West is flabby and unmotivated. When this sucker finally goes down, and it's going, all right, life will never be the same in the West.

You're witnessing real history now!

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The West is flabby and unmotivated. When this sucker finally goes down, and it's going, all right, life will never be the same in the West.

You're witnessing real history now!

We have forgotten what it is like to be Hungry.

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This is more about a restructuring of the global economy than the end of the world. There's a neat little video going round SE Asia of three drunk English prats mocking a 76 year-old Singaporean rickshaw driver for not pedalling fast enough. Then they refuse to pay him, etc.

This will look very odd to future generations that will be more used to English people trying to get the grades and experience to emigrate to Asia so they can earn the big bucks. All the money is going East - that's where the labour is, it's where the initiative is, and most important it's where the passion is. The West is flabby and unmotivated. When this sucker finally goes down, and it's going, all right, life will never be the same in the West.

You're witnessing real history now!

What utter rubbish.

I honestly don't know where to start. What you have posted here typifies what passes as believable on here amongst some of you. Its completely over the top, I don't know where you live or what your situation is, but things are honestly not as bad as all that. Flame me if you want but I think you need to come away from the internet for a bit.

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What utter rubbish.

I honestly don't know where to start. What you have posted here typifies what passes as believable on here amongst some of you. Its completely over the top, I don't know where you live or what your situation is, but things are honestly not as bad as all that. Flame me if you want but I think you need to come away from the internet for a bit.

+1

Beginning to wonder if the site actually stands for HPConspiracists...

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What utter rubbish.

I honestly don't know where to start. What you have posted here typifies what passes as believable on here amongst some of you. Its completely over the top, I don't know where you live or what your situation is, but things are honestly not as bad as all that. Flame me if you want but I think you need to come away from the internet for a bit.

Already happening.

If you want a decent career in engineering and I mean career working in R&D, development your best bet is to go abroad, that is where the jobs are (or were, but still will be in the future), that is where the development is and that is where the future is.

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Already happening.

If you want a decent career in engineering and I mean career working in R&D, development your best bet is to go abroad, that is where the jobs are (or were, but still will be in the future), that is where the development is and that is where the future is.

Even if you're right, and I question that you are completely correct on this, that is a million miles away from "we're all screwed, we're going to be moving out to S.E. Asia just to scrape a living, this is history in the making"....

Don't panic, don't panic Mr Mannering...

Jeez.

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Already happening.

If you want a decent career in engineering and I mean career working in R&D, development your best bet is to go abroad, that is where the jobs are (or were, but still will be in the future), that is where the development is and that is where the future is.

When was this ever not the case?

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Already happening.

If you want a decent career in engineering and I mean career working in R&D, development your best bet is to go abroad, that is where the jobs are (or were, but still will be in the future), that is where the development is and that is where the future is.

It takes some imagination - not a lot, granted - to see how large trends reshape societies and economies. It has shifted from Europe to North America, and now it is shifting from North America to Asia. It's generational - it won't happen in our lifetimes, for sure, but the trend is set.

And to the otherposter - why would that induce panic, Mr Mainwaring? Only a proper little xenophobe would run round in a panic if he found out he might need to go to Asia to make some money.

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Even if you're right, and I question that you are completely correct on this, that is a million miles away from "we're all screwed, we're going to be moving out to S.E. Asia just to scrape a living, this is history in the making"....

Don't panic, don't panic Mr Mannering...

Jeez.

A few questions

1 can we in this country produce enough food to feed ourselves.

2 are we a net importer or exporter finished goods

3 are we a net importer or exporter of energy

These quetions are important as the answers determine our direction as a nation

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A few questions

1 can we in this country produce enough food to feed ourselves.

2 are we a net importer or exporter finished goods

3 are we a net importer or exporter of energy

These quetions are important as the answers determine our direction as a nation

Errr firstly there's a difference between could we and do we on this point... secondly though on a "do we" basis is there any large country that would meet all three questions with a yes ?

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Errr firstly there's a difference between could we and do we on this point... secondly though on a "do we" basis is there any large country that would meet all three questions with a yes ?

yes america.

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What utter rubbish.

I honestly don't know where to start. What you have posted here typifies what passes as believable on here amongst some of you. Its completely over the top, I don't know where you live or what your situation is, but things are honestly not as bad as all that. Flame me if you want but I think you need to come away from the internet for a bit.

For suggesting the East is outcompeting the West the OP has to read this. Did you have a counter argument?

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It takes some imagination - not a lot, granted - to see how large trends reshape societies and economies. It has shifted from Europe to North America, and now it is shifting from North America to Asia. It's generational - it won't happen in our lifetimes, for sure, but the trend is set.

And to the otherposter - why would that induce panic, Mr Mainwaring? Only a proper little xenophobe would run round in a panic if he found out he might need to go to Asia to make some money.

Sorry, couldn't be bothered to look up the correct spelling...

As for "Only a proper little xenophobe would run round in a panic if he found out he might need to go to Asia to make some money". What has this got to do with Xenophobia? You've lost me?

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For suggesting the East is outcompeting the West the OP has to read this. Did you have a counter argument?

That wasn't directed at the OP... Please look back.... It was directed at a sweeiping statement suggesting that we will all shortly be migrating to Asia to have a hope of living a lifestyle similar to that which we enjoy now.

Counter arguement? Nothing other than the West has in part funded the growth of Asia and will also play a part in any future growth. This will probably address some of the balance.

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http://www.ft.com/cms/s/0/65a709ec-850b-11...144feabdc0.html

This was a very interesting article in the FT at the weekend.

Summary is that when oil hit 150USD it was not economic to ship goods from ASIA tio the Europe or the US.

So companies are repsonding and building complete regional supply chains in the Americas, Europe, Asia no more global supply where components are made in china and assembled in the regions..

Asia may just have shot itself in the foot by driving the oil price up it does not have a global market to dominate now only a regional one.

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Errr firstly there's a difference between could we and do we on this point... secondly though on a "do we" basis is there any large country that would meet all three questions with a yes ?

Yes of course this nation can feed itself but we will require a production order of zyclon B to facilitate.

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A few questions

1 can we in this country produce enough food to feed ourselves.

2 are we a net importer or exporter finished goods

3 are we a net importer or exporter of energy

These quetions are important as the answers determine our direction as a nation

1. Yes

2. We import a little more than we export

3. We import a little more than we export

So it looks good, better than most other countries in the world :P . On points 2 and 3, if the pound falls further we will export much more than we use. In synopsis, if the pound falls the country will be saved?

Edited by moosetea

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And to the otherposter - why would that induce panic, Mr Mainwaring? Only a proper little xenophobe would run round in a panic if he found out he might need to go to Asia to make some money.

We've been to Asia to make money before, we can do it again. Do they still like opium? :lol:

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Yes of course this nation can feed itself but we will require a production order of zyclon B to facilitate.

Well they can start with the 3 Baby Peter killers. That would save a shed load of cash on an ongoing basis.

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1. Yes

2. We import a little more than we export

3. We import a little more than we export

So it looks good, better than most other countries in the world :P . On points 2 and 3, if the pound falls further we will export much more than we use. In synopsis, if the pound falls the country will be saved?

We have been a net food importer for years, and the means to produce food will decline not increase,

how can you say we are a net exporter of finished goods, name a major british manufacturer of anything

3 ye right, we import oil gas and electricity all will have to increase as we run out of oil and gas and nuclear power stations ware out, the only thing we do have is coal, this country could be saved by the mines, but I doubt if our govt will put things in place to let it happen

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name a major british manufacturer of anything

We are a major producer of Pounds and will have manufactured at least 175 billion of them in 2009. :D

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We've been to Asia to make money before, we can do it again. Do they still like opium? :lol:

you laugh now, but why else would we have a substantial proportion of our Army stationed in the most efficient opium producing country in the world?

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http://www.ft.com/cms/s/0/65a709ec-850b-11...144feabdc0.html

This was a very interesting article in the FT at the weekend.

Summary is that when oil hit 150USD it was not economic to ship goods from ASIA tio the Europe or the US.

So companies are repsonding and building complete regional supply chains in the Americas, Europe, Asia no more global supply where components are made in china and assembled in the regions..

Asia may just have shot itself in the foot by driving the oil price up it does not have a global market to dominate now only a regional one.

Anecdotal... My husband works in QA for a multinational manufacturer - and yes, it does still manufacture things in the UK. Anyway, last year and the year before he was having to travel out to India and China to try to set up suppliers there. No longer - he's back to travelling Europe again.

I gather the company's decision is related partly to shipping costs and partly to the impossibility of finding suppliers who can produce goods of the required quality (and the company is fussy) with the reliability of delivery necessary in a just-in-time system.

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Anecdotal... My husband works in QA for a multinational manufacturer - and yes, it does still manufacture things in the UK. Anyway, last year and the year before he was having to travel out to India and China to try to set up suppliers there. No longer - he's back to travelling Europe again.

I gather the company's decision is related partly to shipping costs and partly to the impossibility of finding suppliers who can produce goods of the required quality (and the company is fussy) with the reliability of delivery necessary in a just-in-time system.

I believe this is also becoming the case for some (not all obviously) IT outsourcing and resourcing. Its all well and good making huge savings, however if the team that you are working with in India are not fit for purpose, it becomes a matter of time before the decision is made to bring it back.

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