It’s Friday. You do NOT want to hear bad news on a Friday. I don’t want to hear bad news on a Friday. I don’t want to WRITE about bad news on a Friday.
Fridays are for fun stuff and leaving work early. Fridays are for thinking about that awesome weekend project that you’ve been working on.
Fridays are NOT for economic devastation and global financial apocalypse.
Unfortunately, that’s what we’ve got. And no, what I’m going to write about on Monday isn’t really any better. It’s also going to be about apocalypse.
Here’s a bit of video to rub it all in:
I’ve even been hearing rumors that Germany is now starting to print their own currency, just in case the Euro fails.
But wait, there’s more:
October 7th, 2011
Predictions of an economic apocalypse are no longer restricted to the realm of fringe doom and gloomers lurking in the dark corners of the internet. As we’ve previously suggested uncertainty now pervades the social consciousness, not just in America, but the world over. Every major media outlet in developed nations is now reporting on the headwinds facing the so-called recovery. The problems and threats confronting the stability of the globe can no longer be dismissed as theoretical arguments, because they are now being actualized – in real time.
Greek strikes have nearly driven that country to a standstill, and the former deputy finance minister told CNBC a Greek default is “inevitable,” and that the only hope was for an orderly approach to dealing with the fallout.
You’ll note that this week Federal Reserve Chairman Bernanke used exactly the same word, “orderly,” when discussing the threat posed to the European and U.S. economies resulting from a Greek default, going so far as to say that if such an event were “disorderly” it would “have a very substantial impact not only on our financial system, but on our economy.”
An orderly default?
How are you going to manage THAT?
Is that going to be like an orderly run on the banks? Or, an orderly train wreck?
And, then there’s this one from The Telegraph:
The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night.
Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.
Economists said the Bank’s decision to resume its quantitative easing [QE], or asset purchase programme, showed it was increasingly fearful for the economy, and predicted more such moves ahead.
Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster.
“This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”
The worst financial crisis in human history.
Please, everyone, you’ve bought some gold and silver, right? You’ve got a survival plan, right? You’ve got cash at home, right?
And, some extra food?
Maybe this won’t be the worst financial catastrophe in the history of mankind. Maybe we’ll stroll into November giggling over how stupid we were to think that anything could go wrong.
But, are you willing to bet on that?
But, in case you missed it, here’s this gem of a video from the Telegraph:
The dulcet tones of that English accent are so reassuring. They have it all under control. No worries.
Well, if you were paying attention, you would hear him talking about pumping cash into the system. Lots of cash. Lots and lots of cash.
Do you know what that causes?
You’ll never guess, so I’ll tell you: INFLATION.
Massive, uncontrolled, runaway inflation.
Welcome to Armageddon.