2008 was a pre-cursor to how bad it’ll get, 2013 will be CATASTROPHIC for everyone.
History inevitably repeats itself: Arab Spring triggered Wall Street Fall. Next, the raging European monetary collapse will ripple through America’s banking system, completing the 2008 meltdown that never ended because Wall Street fought all reforms.
But now, a bigger meltdown as history repeats a dangerous cycle like the 1929 Crash and Great Depression.
History will also deal a fatal blow to Wall Street. Weiss adds a key warning: No bank bailouts. America’s banking system is bankrupt, structurally and morally. Washington is broken. And thanks to the Occupiers Revolution the masses will never accept new bank bailouts. Never. They’ll toss politicians and overthrow government first.
No new bailouts will be the stake in the heart of Wall Street, ending the “greed is good” power of America’s “bloodsucking vampire squid,” handing the Occupiers new political power in Washington.
Weiss’s worst-case scenario highlights everything we’ve both been warning investors about for a long time. The 2008 meltdown never ended, lessons never learned. But now the end game is accelerating.
Listen closely: Weiss final warning to all investors: “Get all or most of your money out of danger immediately … above all, stay safe!” Prepare for the coming bank collapse. And discover how this historic scenario will empower the Occupiers message to get money out of elections: “One citizen. One dollar. One vote.”
Compromise on that principle and Wall Street wins, again.
2009 started with banks in full crisis mode, but ended the year with a brief vacation from worrying about insurmountable debt
2010 saw the beginning of the sovereign debt crisis
2011 has seen the sovereign debt crisis spiral out of control, banks are back in the crisis mix and individuals are certainly not helping if not back in crisis mode. The feeling that this crisis is bigger and is snowballing is real, because it is. Neither banks nor individuals ever truly repaired their balance sheets fully and sovereigns across the global pillaged their balance sheets for incremental growth and votes.
2012 looks like it will be the year of the supra-national. It looks like any “solution” to this year’s crisis will be to push the problem up a level. Creation of new pan-European entities are being discussed while China and the IMF and now possibly Norway step up their support.
If you thought that 2011 was a bad year for the world economy, just wait until you see what happens in 2012. The U.S. and Europe are both dealing with unprecedented debt problems, the financial markets are flailing about wildly, austerity programs are being implemented all over the globe, prices on basics such as food are soaring and a lot of consumers are flat out scared right now. Many analysts now fear that a “perfect storm” could be brewing and that we could actually be headed for an economic apocalypse in 2012. Hopefully that will not happen. Hopefully our leaders can keep the global economy from completely falling apart. But right now, things don’t look good. After a period of relative stability, things are starting to become unglued once again. The next major financial panic could literally happen at any time. Sadly, if we do see an economic apocalypse in 2012, it won’t be the wealthy that suffer the most. It will be the poor, the unemployed, the homeless and the hungry that feel the most pain.
A slow-growth decade is already raging. You feel it everywhere. And it’s going to get worse, much worse. A recession is virtually certain for 2012, in an angry, volatile presidential election year. May morph into a 1930’s-style depression.
In an interview on BBC News this morning that left the hosts gob-smacked (google it… it is the BBC after all), Alessio Rastani outlines in a mere three-and-a-half-minutes what we all know and most ignore. While the whole interview is worth watching, the money shot for us was “This economic crisis is like a cancer, if you just wait and wait hoping it is going to go away, just like a cancer it is going to grow and it will be too late!”. While he dreams of recessions, sees Goldman ruling the world, and urges people to prepare, it is hard to disagree with much (or actually anything) of what he says and obviously interventions and machinations means we will have days like this (in Silver for instance), there is only one endgame here and we hope there is less hopeful euphoria (and more preparedness) as we pull back the curtain further an further.
2012 is shaping up to be the blockbuster main event of the ongoing financial crisis. Massive amounts of new debt, vast quantities of additional digital dollars and the spark of higher interest rates will set off version 2.0 of the credit-driven financial implosion. Let me explain.