"'A lot more people were living on the edge than we ever even anticipated,' Haynes said. 'So many people were just barely making it. It's absolutely shocking.'"
~ Hospitality House spokesman Barry Frost, quoted in Economy Creates Newly Homeless by Kimberly Edds, OC Register, December 11, 2009
"There is no normality and no recovery. You cannot spend your way into recovery. It just doesn’t work. Look at the 1930s. It didn’t work then and it won’t work now. Government guarantees challenge reality and reality always wins. As a result of Fed policy we have corporatist fascism at its worst. Day by day we attract less foreign capital and that is because any semblance of free markets are gone. All the Fed has done is rescue its owners and other connected elitists and such a plan is doomed to failure."
~ Bob Chapman, The Greatest Outpouring of Money and Credit from Central Banks and Governments in History, December 19, 2009
The Illusion of Normalcy Fades to Black
I wrote the first of these "Year Ahead" columns two years ago because I expected the coming collapse (described earlier in Destruction by Paradigm, March 2007) to begin in earnest during 2008. I saw epic debt levels, massive monetary inflation (not just in the U.S. but on a global scale for the first time in history), resource depletion (especially for oil, metals, and fresh water), government encroachment into almost every area of life, growing levels of corruption in and out of government, pollution of both freshwater sources and the oceans, and a host of other problems coalescing into an unprecedented storm – a dark tipping point poised to bring poverty, tyranny, hunger, and homelessness to millions of formerly middle class families. Just saying that out loud sounds extreme – things couldn't get that bad, could they? – but in fact that much has already happened and the storm has just begun. Read the rest
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