Say Goodbye To The Good Life

Christmas Tree 3 SC Say Goodbye To The Good Life

Will this be the last normal holiday season that Americans ever experience? To many Americans, such a notion would be absolutely inconceivable. After all, in the affluent areas of the country restaurants and malls are absolutely packed. Beautiful holiday decorations are seemingly everywhere this time of the year and children all over the United States are breathlessly awaiting the arrival of Santa Claus. Even though poverty is exploding to unprecedented levels, most families will still have mountains of presents under their Christmas trees. Of course a whole lot of those presents were purchased with credit cards, but people don’t like to talk about that. It kind of spoils the illusion. Sadly, the truth is that our entire economy is a giant illusion. The extreme prosperity that we have been enjoying has been fueled by debt, and any future prosperity that we will experience is completely dependent on our ability to go into even more debt. The total amount of debt in our economy is almost 10 times larger than it was just 30 years ago, but we don’t like to think about that too much. Most Americans are way too busy living the good life to be bothered with “doom and gloom”. Well, get ready to say goodbye to normal. As history has shown us, no financial bubble lasts forever, and time is rapidly running out for us.

You know that the hour is late when even mainstream news sources start publishing articles with titles such as this: “Will 2013 Mark the Beginning of American Decline?”

That article appeared on the other day, and it was written by Simon Johnson, a former chief economist at the International Monetary Fund. He is convinced that a day of reckoning is coming for U.S. government finances, and he seems resigned to the fact that we will not be ready when that day arrives…

“Sooner or later, it will be America’s turn to fall out of favor with investors and to see its own interest rates rise. It is hard to know when that day will come, or precisely what pressures the country will face.

Let me only venture one forecast: We will not be ready.”

Other analysts are far more pessimistic. For example, the following is what Gerald Celente said about the “bond bubble” during a recent interview with King World News…

Eric King: “Gerald, I wanted to take a look at this upcoming issue you have coming out. (In here it says,) ‘Bonds Away! The bond bomb is ready to explode … threatening to make the real estate and dot-com bubbles, and even the Great Recession, look like market corrections.’ Can you talk about that?”

Celente: “Yes. This piece is being penned by Dr. Paul Craig Roberts, the former Assistant Treasury Secretary under Ronald Reagan. And he is convinced that the bond bubble is about to burst. This cannot continue to go on the way it is. Everyone knows that the whole game is rigged, and so is this….”

“The whole game is rigged. It’s ready to go down, and Dr. Paul Craig Roberts believes it’s ‘Bonds Away’ in 2013 as the bond bubble explodes and brings about a financial disaster even worse than the Great Depression.”

Eric King: “He’s saying here it’s a road to financial collapse that we are going to head down when this thing bursts.”

Celente: “It is. Because the whole world is being propped up by these phony bonds and it’s going to collapse. It has to happen. Interest rates are going to start going up, and when they do the bond bubble explodes. You cannot keep interest rates at zero for this amount of time and expect anything other than disaster to follow.”

Read More at . By Michael Snyder.

Photo Credit: takfoto (Creative Commons)

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  1. I feel that this country is headed for the collapse of the dollar, to go and buy gifts on a credit card that you may not be able to pay is a big mistake. If you do not have a job and can’t pay your credit card bills, the interest on the card will eat you up alive.

    I a firm believer that if you do not have it, don’t spend what you do not have. Explain it to your family and find a way to at least have some gifts for your children without over extending yourself.

    Re-electing this man is the worst thing that could happen to our country, by next year there will be more people living on hard times and I hope the morons that supported and voted this clown back in office, I hope they are the first ones to feel the pain, they deserve it. We had a chance to be rid of him and move the country forward with a new leader I hope and pray that we may still have a country in 4 more years. Who knows?

    • Edwardkoziol says:

      Linda your so right this igger thinks everyone should own a house even if they can't afford the payments.I wonder if Obutthole ran his house like he is doing the government but then again he didn't have to worry about bills someone was taking care of him.People like Soros and other commies

      • Hi Edward,

        This igger does not care what happens to the rest of us, he feel that he is a King and he is selfsevring. He will continue to waste tax payer's money and raise our taxes to the point of enslavement. I can't wait til he betrays all those morons that voted him back into our white house, then they will realize what a mistake they made.

        • Edwardkoziol says:

          This igger like you say is an arrogant oreo and doesn't mind spending others money.Take today he is leaving Hawaii to come back to Washington to go over the fiscal cliff however he is leaving Grape Ape, Buckwheat,Wheezy and grandama Ester to keep spending tax payers money instead of all them coming back together to save a buck.Remember when our liberal press complained about Bush going to Camp David.

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