Americans finally reacting to economic rape?
"As the Economic Edge blog points out, “The global size of the derivatives bubble which was calculated last year at USD 190k per person-on-planet, has risen to USD 206k per person-on-planet. The ever rising commitment of governments for the repeated bailouts of financial institutions is partially linked to various flavours of derivatives exposure settlements and “black hole” losses emanating from off-balance-sheet vehicles.”
Indeed, the entire GDP of every single country in the world only amounts to around $60 trillion. How can we ever hope to pay off $1,400 trillion dollars?
We can’t and we won’t. The only way that this $1.4 Quadrillion mountain of debt will disappear is a total and complete collapse of the global economy and its replacement with a new financial system.
Whether that also simultaneously brings down the US dollar and the United States itself as a first world country remains to be seen, but anyone who believes that a few years of austerity can redress the balance is living in cloud cuckoo land.
Once the whole charade starts to unravel, the scenes we saw in Cairo over the last few weeks will look like a walk in the park in comparison to the turmoil that awaits as a result of the derivatives bubble.
RELATED: IT’S THE DERIVATIVES, STUPID! WHY FANNIE, FREDDIE AND AIG ALL HAD TO BE BAILED OUT
And that's why they bailed out our banks as well. But the "problem" remains.http://www.prisonplanet.com/day-of-rage ... -rape.html