As for the Russians, Germans, French and Italians, sure they will suffer in Europe too, but not nearly as much, as they are already on a much more solid foundation than the New Orleans financial foundation of the Anglos. Sinking and sinking and nothing else.
Now for the Yanks. The Americans, more so than any others are about to find out the shocking truth of their paper debt economy. Most prosperous nation on earth indeed. Biggest mooch and beggar and debtor to every third world country,
does not make a nation "prosperous". Unlike 1929, America is not a loaner of cash, though it still gives it out to various
puppets and fascists and Marxists around the world, oh my. Instead, it is the biggest debtor in all of history of human civilization. Furthermore, unlike 1929, it is not a net exporter of but an importer of everything short of the tanks, bombers (but not of the bullets and handguns) and heavy equipment. It must now import even food from China and Latin America.
With the holiday sales about to prove as absolute a flop as possible, we will know by mid November for sure, the US can look forward to mass unemployment come January/February 2010, that no amount of DC papering over can solve or hide.
To make things worse, by that point, the US will have Cap and Trade and thus skyrocketing energy costs and regulations and thus skyrocketing prices on everything. Jobs will not just hemorrhage, but will fountain out of the gaping neck wound where the head was just secured. Add to this the British modeled National Healthcare system that Americans will have by than and you get the image of a gang of pig headed little demons of regulation, chopping with their axes, at the headless and stumbling cadaver that was the US. economy.
A rush, no a stampede out of the dollar, will follow by the first half of 2010, followed by a police crack down, anarchy and possible civil war(s).
And all this is even before the bottom is ever reached.
Good night and good luck America, you are going to need it, in this very long winter night.
The article has been reprinted with the kind permission from the author and orignially appears on his blog, Mat Rodina
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