Is the Western World On The Brink Of Financial Collapse ?
 

Iv been reading about this on some of the financial sites and the future of both the USA and Europe is not looking good with countries not being able to pay back debts or on the brink of defaulting. I think we are heading for some real scary and rough times.

The Western World is careening towards a total financial collapse that is now appearing to be unavoidable.

Since our four part series on Understanding America?s Financial Crisis in early May, the unraveling of the global financial health of the world has accelerated to near free-fall conditions. If you are a neophyte to the financial crisis, read our four-part series first to get an overview of the rapidly escalating crisis.

Total unraveling of the global financial crisis was narrowly averted when the Greek parliament voted at the end of June to impose two major austerity bills. The legislation allows Greece to receive a $40.6 billion installment of a $159 billion package in financial aid from the EU (European Union) and IMF (International Monetary Fund). While averting a short-term disaster, the Financial Times reports economists are warning that the new measures ?may have simply delayed the inevitable.?

The problem of Greece?s enormous debt and its inability realistically to finance itself in future years remains as intractable as ever. Default is inevitable. Writing for the Financial Times, Chris Giles warns that even under the best of circumstances Greece is predicted to default by 2013 sending shockwaves through Europe that certainly will find their way to the U.S. Giles predicts that not only would Greece be kicked out of the EU, but Spain, Ireland, Italy and Portugal (the so-called PIIGS nations) also default and lose their membership in the EU. Hyperinflation will grip these defaulted nations as they lose the protection of the EU, cascading into a severe depression for the rest of Europe. It is also likely the Euro would either cease to exist or would no longer be a serious contender with the U.S. dollar.

That?s the good news. Greece is highly socialistic with most people depending on the government for their benefits, and indeed, their livelihoods. Outrageous benefits and corruption are the norm. Losing even some of those socialist benefits has already caused frequent riots. However, with the passage of the austerity laws in late June, Greek unions are rioting with increasing violence. Leaders are holding their collective breath. If the violence threatens the government, even with Marshal Law imposed, the newly passed austerity laws may go down in flames ? literally. The unions actually want the government to default on their debt and go back to the Greek drachma. They falsely believe it to be like bankruptcy that would free them from the backbreaking debt to continue life as usual.

More here

http://www.newswithviews.com/Coffman/mike126.htm

What I fail to understand is why we borrow money only to give it to another country? So we can pay interest on money we gave to another country?

If you are talking about the aide we provide other countries then you have a point.

Everything will be fine. If not, we will take everybody with us and we will ALL have to hit the reset switch.

Look what happened when we crashed a few years ago ... the rest of the world went with us.

The only strong counties left need the US in order to stay strong.

short answer: no.

long answer: no, really.

naaah, why do you think that? Because the total value of everything that exists in the world amounts to just 1/11th (or 1/7th depending on how you measure it) of the total money and financial documents in circulation and therefore money has no real backup value and we're living on a giant Ponzi scheme? why would you worry about that? :thumbsup

Damn I wish Colin Powell read our nations leader right now. At least he'd be leading in some direction, instead of just now announcing that he's starting to put together some ideas.

Hell even George "I'm the decider" Bush could make a damn decision. Obama can't even propose a plan.

No, well not all of it.

Australia is doing quite well and will continue to do very well while we have vast mineral resources that the rest of the world is quite hungry for.

In the time that will elapse before Australia runs out of iron ore, countries will collapse economically and leading economies which once were in the west will give way to those rising in the east. Throughout all of this, Australia will still have mineral riches to profit from.

Australia's greatest need is for workers, I forsee a time where economic refugees from places like the USA and Europe line up to come to Australia for employment. It's already happening to some extent however as Australia will need 500,000 new workers in the next 5 years, this will accelerate markedly.

the banks are happy, we are not saving countries, we are saving banks ( again)

Capitalism is it own worse enemy, left to itself it will destroy itself.

The US / Uk govt are controlled by the financial sector who run scams resulting in the rich becoming richer and the poor poorer.

For the first time people are poorer now than they were 20 / 30 years ago.

For more watch movie "Inside Job"

If the US collapses then the EU goes and so does the Asian countries. They will all collapse.

no not at all.

A collapse can only make capitalism stronger ...

i'm honestly starting to believe that the foil hatted conspiracy nut jobs are the sheep. The government probably leaks all this silly misinformation purposely to fool nut bars into believing in shit like 'new world order' and aliens just to keep them from getting into college, becoming educated and actually make a proper stand with some credibility.

It seems to be working...

It's debt warfare, instead of sending in troops, you make money appear out of thin air, lend it to another country, when they cannot pay you take their assets.

As for foreign aid, it's generally a scam, the conditions are of the foreign aid are often that it has to be paid by the recipient to companies that you (bankers/elite) own. It's actually a way of them paying themselves.

You do raise an interesting point there PR_Glen, in fact 9/11 is along those lines. 9/11 is actually designed to eventually take the US down from within using The Truth Movement. This explains the strategy

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When the secret services perform a large false flag operation in one of the world's major cities in broad daylight, they know there are cameras and people all around. They know you will eventually prove it was a controlled demolition, especially after having demolished World Trade Centre 7 on the same day. They know this is the Age of the Internet and that the majority of people will eventually find out the truth either on the Internet or through friends/family.

Truthers, you are part of the plan. A group has been created, you are a member, currently you are being frustated so as you will eventually be a force for change. You are a piece in someone else's chess match; you will be played at a key moment in the game.

The people behind 9/11 (Rockefeller/Banker & Co) have many tentacles. They want the United Nations as their world government, but they need the people to desire this too. The truth behind the truth of 9/11 is that it's a double-conspiracy, Truthers are now like a religious group that can be used for change by the rulers of the world. When the time is right (after WWIII which is in it's early stages), the United Nations will say they want an end to the chaos and destruction. They will announce they have evidence that the 9/11 was an inside job, they will call for a revolution inside the USA leaving the United Nations in control via the North American Union.

With the NAU and United Nations in control, the USA will be left with the same Banker/Rockefeller people in charge, but with a different form of goverment. It will be communism though they will never tell you that.

What can you do? The most important thing is that when the time comes you keep in mind what the true agenda is and be aware that the same people who were behind 9/11 are also behind the United Nations. People will try to pull your strings; strings that they tied to you. When the United Nations gives you the opportunity to overthrow your government (they will help in many ways) you have to try to take it for yourselves, do not fall into the trap that is being set. The NAU/UN look different, the faces are different, but the people who control and fund them are the same. When the time comes, take the country for yourselves! This will require a lot of preparation; your enemy has a plan and you need to be able to anticipate and counter each of his moves.

It is worth noting that the same isn't true with London 7/7, it was carried out in the London Underground as the truth is not meant to come out.

Economic collapse is possible, although not necessarily likely (on a global scale anyway. Local collapse is inevitable for some areas.) Conspiracy theories are just silly.

It'd be nice to see the actual truth, but I can bet everything I own that most of us will NEVER know the truth about a lot of things.

Its time to buy gas and rice!