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‘Endgame’: How Did the Global Economy Get Here & Where Is It Headed?

Mar. 12, 2013 8:00pm Becket Adams

It probably comes as little shock to Blaze readers when we say that the global economy is far from healthy.

Indeed, between the European Union’s unemployment problem, global worries over “competitive devaluation,” debt monetization, and uneasy political alliances, economic analysts the world over will tell you the same thing.

So this raises the big question: How are the world’s money leaders (i.e. central bankers) handling things? Where is this all headed?

Charles Hugh Smith (of Of Two Minds fame) weighs in on the matter: “An over-indebted, overcapacity economy cannot generate real expansion. It can only generate speculative asset bubbles that will implode, destroying the latest round of phantom collateral.”

Smith, who has been closely following global events and trends, presents fourteen points summarizing his recent work on what he refers to as the “global endgame” [all block quotes via Of Two Minds]:

1. Production Boosted

In the initial “boost phase” of credit expansion, credit-based capital (i.e. debt-money) pours into expanding production and increasing productivity: new production facilities are built, new machine and software tools are purchased, etc. These investments greatly boost production of goods and services and are thus initially highly profitable.

2. Expansion Leads to Overcapacity

As credit continues to expand, competitors can easily borrow the capital needed to push into every profitable sector. Expanding production leads to overcapacity, falling profit margins and stagnant wages across the entire economy.

Resources (oil, copper, etc.) may command higher prices, raising the input costs of production and the price the consumer pays. These higher prices are negative in that they reduce disposable income while creating no added value.

3. People Turn From Material Investment to Financial Speculation

As investing in material production yields diminishing returns, capital flows into financial speculation, i.e. financialization, which generates profits from rapidly expanding credit and leverage that is backed by either phantom collateral or claims against risky counterparties or future productivity.

In other words, financialization is untethered from the real economy of producing goods and services.

4. Financial Speculation Is Profitable – At First

Initially, financialization generates enormous profits as credit and leverage are extended first to the creditworthy borrowers and then to marginal borrowers.

5. Financial Speculation Starts To Fall Apart

The rapid expansion of credit and leverage far outpace the expansion of productive assets. Fast-expanding debt-money (i.e. borrowed money) must chase a limited pool of productive assets/income streams, inflating asset bubbles.

6. Credit Continues to Expand

These asset bubbles create phantom collateral which is then leveraged into even greater credit expansion. The housing bubble and home-equity extraction are prime examples of this dynamic.

7. Credit Bubble Burst

The speculative credit-based bubble implodes, revealing the collateral as phantom and removing the foundation of future borrowing. Borrowers’ assets vanish but their debt remains to be paid.

8. Who’s Going To Pay Back Their Debts (Hint: Not Many)

Since financialization extended credit to marginal borrowers (households, enterprises, governments), much of the outstanding debt is impaired: it cannot and will not be paid back. That leaves the lenders and their enabling Central Banks/States three choices:

A. The debt must be paid with vastly depreciated currency to preserve the appearance that it has been paid back.
B. The debt must be refinanced to preserve the illusion that it can and will be paid back at some later date.
C. The debt must be renounced, written down or written off and any remaining collateral liquidated.

9. Consumption Has a Bit of a Problem

Since wages have long been stagnant and the bubble-era debt must still be serviced, there is little non-speculative surplus income to drive more consumption.

10. So How Do Central Banks Respond?

In a desperate attempt to rekindle another cycle of credit/collateral expansion, Central Banks lower the yield on cash capital (savings) to near-zero and unleash wave after wave of essentially “free money” credit into the banking sector.

11. Where Do Banks Turn Their Attention?

Since wages remain stagnant and creditworthy borrowers are scarce, banks have few places to make safe loans. The lower-risk strategy is to use the central bank funds to speculate in “risk-on” assets such as stocks, corporate bonds and real estate.

12. Debt Continues to Eat Away At Income/Assets

In a low-growth economy burdened with overcapacity in virtually every sector, all this debt-money is once again chasing a limited pool of productive assets/income streams.

13. Where Do You Think That Leads?

This drives returns to near-zero while at the same time increasing the risk that the resulting asset bubbles will once again implode.

14. Endgame?

As a result, total credit owed [remains] high even as wages remain stagnant, along with the rest of the real economy. Credit growth falls, along with the velocity of money, as the central bank-issued credit (and the gains from the latest central-bank inflated asset bubbles) pools up in investment banks, hedge funds and corporations.

And in case you’d like to visualize point 14, here are three helpful charts:

First, here is a chart of EU credit since they switched to the euro:

“This is roughly equivalent to TCMDO (Total Credit Market Debt Owed) in the U.S.,” Smith notes.

Second, a chart of EU credit growth:

Lastly, money velocity in the U.S.:

Not exactly heartening, is it?

Diving deeper into this topic, Glenn Beck on Tuesday asked: What happens when the government forces interest rates down and forces people into riskier assets?

Watch his explanation via TheBlazeTV:

–

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In CONTROL, Glenn Beck presents a passionate, fact-based case for guns that reveals why gun control isn’t really about controlling guns at all; it’s about controlling us. Find out more HERE.

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Comments (60)

whobkhazar
Posted on March 26, 2013 at 11:03am
Want to stop this downward spiral? buy only what you really need and if possible only those things made in America or at least in North/South American continents. Secondly eliminate the things that cost you money but produce nothing of true value as in a product. Examples are cable television prepared foods and most forms of entertainment. Pay down your debts and practice using cash except for catastrophic occurances like a car breakdown.

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truthspeare
Posted on March 20, 2013 at 8:02pm
Great job Glen. This is why I subscribe to your network. This is why through the Blaze you will be the next media mogul. This is why the old media is declining. I no longer watch old media and increasingly less watch Fox News and shifted to Fox Business when not watching The Blaze. I subscribed to Dish solely to obtain your journalism.

As a Reagan conservative, I am highly suspicious of the report issued by the Federal Reserve, if that is what anybody would care to call it.

For several years now the Tea Party has been able to slow down the transfer of wealth from taxpayers of non-Detroitesque states to Detroitesque states for purposes of funding non-U.S. bases –education, local police, firefighters etc.

I note that I cannot understand why some people in California and similar states do not like their own kids, cops, and firefighters and vote down taxes to fund their schools, etc, or the politicians in these states have education, etc. on such a low priority, that so-called flyover states, have to be shaken down to fund such matters properly within the province of such unconcerned parents and politicians.
Such taxation without representation in such Detroitesque states is not constitutional.

Oh well, not being very smart myself, maybe I am missing something. In any event, I see the Federal Reserve policy and quantitative easing as an end run around Tea Party politicians at the Federal level. The Fed can do what Congress cannot.

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- truthspeare
  Posted on March 20, 2013 at 8:20pm
  Quantitative easing is creating a huge bubble. Pumping worthless money into the economy may in the short term prop up the economy but eventually you have to pay the mathematical piper.
  
  Now some may call this a conspiracy theory. If so, then they should have no problem joining me in calling on their Congressional representatives to pledge:
  
  1. When dollars become so worthless that the international community disavows the dollar as the world currency, that they will not allow the Federal Government to confiscate precious metals for the sake of creating a sound backing for the dollar. I suspect eventually keeping the dollar as the world currency will come with international demands to shore up the dollar.
  
  2. That state retirement funds, large investment houses, etc., now taking current huge gains in the stock market now, at high risk, will not be bailed out by the U.S. taxpayer. (part of the end run around the tea party.
  
  Prudent investors who choose not to take the huge risks occasioned by the Fed quantitative easing and its effect on a bubble stock market, will take two hits, first, they will have lost opportunity to reap huge bubble creating profits, and second their prudent investments will be taken in return for the same worthless Fed dollars that created the bubble that will burst.
  
  By the way, the second order effect of a booming market is to create large flow of capital gains taxes to the Federal Government. This is ok, who pays for the downside of the
  
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katzkiner
Posted on March 15, 2013 at 8:49pm
I bet the 1% that owns 40%+ of America never wakes up in the morning afraid of the end game. Fear mongers sell gold, silver, books, guns and bunkers. The 1% sell refrigerators, carpet, treasuries, cars, houses and factories. Take your pick. Nothing lasts forever, in the next empire the division will be the same. In the end they throw dirt on all of us.

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CulperGang
Posted on March 13, 2013 at 11:54am
We know why. Now LOCK THEM UP.

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CulperGang
Posted on March 13, 2013 at 11:52am
Corzine……….Bernanke……….Clintons……….Bushes ALL run criminal cartels……..drugs/guns/child prostitution/white slavery/insider trading……..you name it. They run the gamut of every thug criminal activity with IMPUNITY. That is how we got to where we are. Unless righteous men put them down like the sick animals that they are, they are going to infest the world with a disease that will destory everything in sight. WE ARE HALF WAY THEIR ALREADY. There is no future for the youth…..if they are not rounded up like “nazi criminals” put on trial for crimes against humanity and then shot.

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nzkiwi
Posted on March 13, 2013 at 4:56am
None of that came as a surprise, but I’m now feeling quite depressed.

If you guys think tht this is just an American problem, think again. America is such an economic powerhouse that if someone just threw on the brakes instead of speeding up towards fiscal disaster, the US would quickly recover. No such luck for Europe.

It New Zealand, it doesn’t much matter what we do as we are so greatly affected by the larger western economies. The best we can try to do is reduce debt and try to protect our production and export bases, but we will still be in trouble.

This is why so many people in smaller countries are paying close attention to what is happening in your nation…

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- WakingSheep
  Posted on March 13, 2013 at 12:19pm
  Ron Paul or Mitt Romney?
  
  Just curious?…
  
  Report this comment
1776boy
Posted on March 13, 2013 at 1:38am
My fellow Americans (always wanted to say that) it is almost past the time for prep. even tho its almost spring ,listen WINTER IS COMMING!, get ready this is awinter of discontent learn the skills needed to survive ,plan build networks within you town, and neibhorhoods, if you live in a city I would advise you to get out if you can. If you can’t move KEEP YOUR EYES AND EARS OPEN! and get out at any signe of trouble, LISTEN OBAMA WONT SAVE YOU HE WILL ENSLAVE YOU! and KEEP YOUR GUNS!!! you will need them , , make it a point to learn something about self relience every week it will give you the edge you will need .If you don’t have any common skills get with some one who can teach you how to do for yourself don’t be a victom be a VICTOR, ,and know how your government was MENT to work and trust GOD to help you through the days ahead!.

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- NoSleeper
  Posted on March 13, 2013 at 4:58am
  Absolutely correct.
  
  My father grew up in the Great Depression and passed on several key philosophies: live within your means (limited or no debt), build a nest egg (save some money), keep plenty of food on the shelf (always have to eat), and own guns and ammo (not only for protection, but to hunt for your own food).
  
  All these concepts are contrary to what the Government wants you to do. They tell you to consume, spending all your money to drive the economy. They tell you to rack up debt (mortgage, car loan, student loans, credit cards) to get a better credit score so you can borrow more. They have reduced the interest on savings so that it doesn’t even keep up with inflation. They tell you not to ‘hoarde’ food and supplies, that they will be there for you when you are in need. And now they are coming for the guns.
  
  Remember that the Government, nearly $17T in debt, really has no money to help you out. When things go bad, and they will (they always do eventually), who do you think will be there for you? Friends, family and community…not the government.
  
  Be prepared.
  
  Report this comment
- truthspeare
  Posted on March 21, 2013 at 3:21am
  Roger that. If you do not prep, do not blame me for being cruel if I do not share: food stores, ground that grows heirloom veggies, chickens and rabbits as in the old days, water filtratition devices, etc. You have notice, call me crazy, but do not call me cruel if I do have enough. Live with your choices. I do not need firearms to protect me, there is something better. Perhaps watching the Vikings series on the History Channel is instructive. In any event, the preppers, called “crazies” now, will kindly take to being callled the “cruelies” later. The current politicians finger point; this does not fill empty bellies or wet thirsty pallets. You and your children will live by your decisions, do not blame me if I have not prepped enough for all. If you sow your seeds with the Federal Government, then reap that harvest.
  
  In the end, each will have according to their own. Man shall live by the sweat of his own brow, so it is written, so shall it be. If this is not your belief, sorry. Plainly speaking, do not blame me if I do not prep enough, blame yourself. I place my faith in the Lord my God, not Government, and if you place your faith in Government, then as written in then Bible, so as a man soweth, so shall he reap. Do not come to me when your almighty Government fails you. If I have extra, I WILL share, first to your children, then to you. I pray you prepare. How you feeling unprepped Sandy victims. Does a political victory dance equate to heat, food,
  
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daveditchdigger
Posted on March 13, 2013 at 1:36am
No free trade tariff everything.

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media-bias-steals-elections
Posted on March 12, 2013 at 10:53pm
Nice theories?

quote:

2. Expansion Leads to Overcapacity

Hot dang, communism should work then, why we got all this over capacity and production going on here? In the real world, people are not hiring because the costs associated with employment far outweigh the perceived benefit of labor, especially if it can be done with robots, etc? If we have all this over capacity and wealth, why are not more employers taking risks?

Oh, your flaming a gay “lez-beyond” who is also an alcholic with occassional narcisst tendancies with border line behavior some would call “anti-social”, and previous references say you smell like a bong 7 days a week? Your hired, we know right where to put you? If not that person, but most job applicants are not that full of risk are they? Or is society educating people to be un-employable, and they will have to be taken care of through automation?

This has got nothing to do with credit, this has got to do with over pricing things? 30 year mortgages, insurance contracts with astronomical fees (and commissions), high ticket items, and then a large part of society could care less about college, they just want to live without being under oppression?

The danger comes from people that think these problems are not solveable, and they invent reasons to go to war, rather than fix things?

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Obama_In_PeePee_By_Zee_Arteeest_Beck
Posted on March 12, 2013 at 9:52pm
“‘Endgame’: How Did the Global Economy Get Here & Where Is It Headed?”

Communism has been working for 100 YEARS (remember that phrase — the “Progressives” refer to it a lot) to do just that. But “communism” is only a front for the New World Order much older plan of world dictatorship. And America is the one main obstacle to collapsing and creating chaos in the rest of the world’s governments — so America must go. And they’ve got their agents and the local idiots working on it in every part of the United States Of America (government, industry, education, you name it):

“Washington’s DELIBERATE ECONOMIC EARTHQUAKE Exposed By Glenn Beck :: Then ReBOOT USA To Communism!”
http://www.youtube.com/watch?v=4y03b4kHais

But why? Well, the New World Order itself is being used by an even older and more malevolent power:

“2 Billion to Die in World War 3″
http://www.endtime.com/blog/2-billion-to-die-in-world-war-3/
” … ‘And the four angels were loosed, which were prepared for an hour, and a day, and a month, and a year, for TO SLAY THE THIRD PART OF MEN.’ (Revelation 9:15) … This time, there won’t be 8.2 million dead [WW1]. There won’t be 52 million dead [WW2]. This time 2 BILLION human beings will be annihilated from the face of the earth! … According to Revelation 9:14, the prophesied war will originate from the area of the Euphrates River. The Euphrates River is located in Iraq, Turkey, Syria, and Iran.”

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- Moozmom
  Posted on March 13, 2013 at 8:45am
  2014-There are 4 blood moons on Jewish holy days and a solar eclipse between them. Prophecy and science agree. Something big is coming-WWIII.
  
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Stoic one
Posted on March 12, 2013 at 9:39pm
So the world economy is bankrupt. And that is from promising too much ( IE Bathhouse Barry phones)

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vrooomvrooom
Posted on March 12, 2013 at 9:35pm
Our Free Market hasn’t been free for a long time.. It is in chains; increasingly enslaved. Picture a black slave as the economy. Whenever that slave starts to move a little slow from the weight of all the chains he gets whipped until he gets up. When that slave tries standing too tall and strong, he gets whipped and a few more chains added. They can’t have that slave standing too tall; he might think he can stand on his own. Right now, they, (the government), are whipping that slave and adding chains when he’s down, and eventually he will stop moving. The economy, capitalism, just like man, is most happy by having the most freedom.

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IndyNWguy
Posted on March 12, 2013 at 9:14pm
Al Queda and radical Islam are the biggest threats to America. Republicans circa 2001-2008 say yes. Ron Paul says no.
Abortion, gay marriage, and legalized weed are the biggest threats to America. Republicans circa 2010-2012 say yes. Ron Paul says no.
Iran, N. Korea, China, Russia, etc… are the biggest threats to America. Republicans circa 1980-present say yes. Ron Paul says no.
The economy is the biggest threat to America. “Serious” Republicans like Paul Ryan SAY yes, but their actions and solutions say no. Ron Paul has been warning about it for over 30 years.

All of the things clowns like GB, Pat, and Stu railed on Ron Paul for mean NOTHING to the long term survival of our country. NOTHING.

Ron Paul was the only candidate promising to literally cut spending. He was the only candidate with a clue as to how to hold the Fed accountable.

Get over the Ron Paul thing you say? Ok. I’m over it as soon as you get over the “Republican” thing. The odds of Ron Paul winning the presidency are only a little better than Republicans (as a party) attacking the issue of the economy head-on and with integrity. I’ll win the Powerball twice before the GOP (Government Over People) actually get serious about this issue.

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- Disgusted_150
  Posted on March 13, 2013 at 3:13am
  You, my friend, are too far gone…I hope you enjoy that life of paranoia and find comfort behind your big walls. If you believe in God and his son Jesus, then those things will be the end of our country as a superpower. If you don’t believe in them, then obviously homosexuality/abortion et cetera are not problems, but just things. And I’m pretty sure Russia had/has nukes pointed at the U.S., which to me constitutes a pretty big threat…believe it or not, the amount of deists was far less than the amount of Christians in regards to The Founders…
  
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MrKnowItAll
Posted on March 12, 2013 at 8:46pm
Think Of a NEW SYSTEM for when this one Collapses. Like EVERYTHING is FREE! Ask any Progressive. We have Plenty of Money! Do you Accept Food Stamps from a lady in a Wheel Chair?
“Before Death Panels”….”All The Time!” Three Years From Now….”What’s a Wheel Chair?”

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- The_Jerk
  Posted on March 12, 2013 at 9:03pm
  The new system must be one without Shylocks. History has shown us this before.
  
  Report this comment
- Fubared
  Posted on March 13, 2013 at 8:20am
  And no jerks, muslim appeasers, and of course no wanna be brownshirts. As history tries to repeat. Duh.
  
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Outlaw_Josey_Wales
Posted on March 12, 2013 at 8:43pm
Hope you all have spent the last 4 years preparing for the endgame. The economy is going into a recession, which will turn into the greatest depression. Riots and tanks in the streets in all big cities, DHS has been preparing for the endgame. The next few years could be very very bad, worse than being in a combat zone.

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- Disgusted_150
  Posted on March 12, 2013 at 9:29pm
  Josey. Please stop. These comments are an insult to our allies in the military and law enforcement. They will not support it. Will life suck very soon? Yes. Will there be tanks in the streets? If you count the random DHS MRAPs as ‘tanks’ like the idiot Iraqis and Afghans do, then yes. Soon after, those military members still faithful to the constitution will likely remove them with IEDs (since they are now experts at dealing with them) or their own actual tanks. How far are you removed from people in our military currently? You must know this if you know even a few bright soldiers/sailors/airmen/Marines…
  
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- moreoilplease
  Posted on March 13, 2013 at 7:35am
  disgusted
  It’s not an insult to police and military to say riots may break out in major cities. This is not an end game for government. It’s a transition. Military and police in this scenario would be called on to “preserve” order and by definition the constitution. They would feel a sense of duty. That said, I don’t believe that the constitution will be preserved.
  
  The replacement style of government is almost ready. Typically, governments fall when currency fails which is what will be the final blow to the people. But in our case, government has been busy with transitory plans. They will tell you it’s still America and freedom reigns but our constitution will be eliminated. After all, it was that evil capitalism that caused this and the masses will believe it. And people who don’t want go along will be in the minority fast.
  
  This is just one scenario. I don’t have a crystal ball but I do know they are preparing for civil unrest and our current economic situation will not last. And I know progressives in both parties would like to be free of that pesky charter of negative liberties called the constitution. I think I have the general game plan right, just don’t know how it will all play out. The progressive dream of Marxism combined with democracy is what they want. Marx himself didn’t believe this was possible and history has a few examples as well. You can’t have freedom without economic liberty. Equality for all, blah blah blah.
  
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- Disgusted_150
  Posted on March 13, 2013 at 10:03am
  While I agree with most of your points and overall premise, there are more freedom loving, constitutionally minded people in the military than I think you realize. The things missing from our government is the absolute control over the military and police. Because our bases are so spread out, it would be very difficult to bring about all of our military in the first place, much less occupy a nation many times the size of the countries currently operated in. Not only that, but it is very obvious the police forces of the states would not go along with it. IF, and it is a big IF, something happens and the order is given, it will be a Civil War. There is no doubt about that. My point is, it is insulting to assume the military is a bunch of automatons who will do whatever the person above them says to do. Some of that is cultural, which resulted in lazy, video gamer-types joining the military. But even still, SOF and many others in the military are there to defend the constitution, not the president.
  
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johnpaulkuchtajr
Posted on March 12, 2013 at 8:41pm
Glenn never mentions a pretty incredible statistic and that would be that in 2011, the FED “bought” a little over 61% of all debt issued by the US Treasury.

Think about that declaration for a just moment.

The FED, with no real assets of its own, prints a trillion US dollars (our deficit) to “buy” the sovereign debt of the United States of America. Is Wall Street concerned? Absolutely not. The investment pros use all the cheap money to inflate the value of the stock market ; and, they use sophisticated strategies like “puts” and “calls” to cover their positions in times of market fluctuations.

Glenn is absolutely ciorrect that when the music stops, those without a chair are going to try to take yours.

“Remember Benghazi and ALL the Traitors!”

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- drs1969
  Posted on March 13, 2013 at 12:18am
  The FED already owns the statutory limit, 70%, of many issues. This means they could very well lose their ability to ‘rig’ interest rates in the near future. This would explain why Bill Gross is out. The collapse of US debt could be near. This will spike rates and choke the Federal budget. End the FED!
  
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- dublinthewagons
  Posted on March 13, 2013 at 6:26am
  Johnpaul: you are the only one to get it. Hats off 2 U.
  Most are just banging their heads against the wall. Should be funny but its sad.
  
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crusaderx9
Posted on March 12, 2013 at 8:38pm
The United States is mortgaged beyond any other country in the history of the world. We pay out over a trillion dollars more than we take in. Our only ability to pay it back is to create more debt. Our only way to keep interest rates manageable is to create more debt.

We have supercomputers, YET cannot do simple math that tells us in a decade our debt interest will consume our Revenue especially if the interest rates rise up to historical averages.

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- Outlaw_Josey_Wales
  Posted on March 12, 2013 at 8:52pm
  At the end of fiscal year 2001
  National debt was $5.77 trillion
  Average interest 6.06 %
  interest paid $359 billion
  
  At the end of fiscal year 2012
  National was $16.06 trillion
  Average interest 2.48%
  interest paid $359 billion
  
  Notice from fiscal year 2001 to 2012
  the debt increased 258%
  average interest went down 57.4%
  Interest paid IS THE SAME $359 billion
  Today $16.432 trillion @ 6.06% interest = $995 billion annual interest payment.
  6.25% interest is the 30 year average
  1981 average interest was 12.3% “note some t-bills were @21.5% interest”
  $16.432 trillion @ 12.3% = $2.02 trillion annual interest payment
  
  Interest rates on the national debt is a ticking time bomb, when rates goes up, the economy will implode. I can’t see anyway out of the mess the government got us into.
  
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- IndyNWguy
  Posted on March 12, 2013 at 9:17pm
  Well represented Outlaw!
  
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mastice
Posted on March 12, 2013 at 8:23pm
Article summed up in just a few words……. we should have never left the gold standard behind and went to a “creditist” society instead of a “capitalist” society.

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- SaturdaysWarrior76
  Posted on March 12, 2013 at 8:33pm
  Bingo!
  
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- drs1969
  Posted on March 13, 2013 at 12:27am
  Creditist is just a nice term for banker-controlled. That, in turn, is just a nice term for J*wish Bolsheviks. They intend to enslave us w/ the same debt that Iceland renounced. I remember Jim Cramer (can you say J*wish?) trashing Iceland when they did it. He said that the island would be empty in 5 years. Well, guess what. It didn’t happen. His ‘wet dream’ of Icelandic collapse never happened. Get out of debt and dollars to keep thieves, like Cramer, from stealing from you.
  
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Stelex
Posted on March 12, 2013 at 8:23pm
Obama’s hand is starting to slip, once Dear Leader feel’s truly threatened the plug will be pulled. The markets are being manipulated, the media is protecting Dear Leader and when the order is given, Big Ben will flood the market with alll that money he’s printed and inflation will skyrocket. All the big investers will pull out and the market will collapse, society in America will fold and Dear Leader will have to step in to fix things starting with Martial Law. Knock, knock…….do you have any guns in this residence. Our information says yes. May we come in…………..

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- Disgusted_150
  Posted on March 12, 2013 at 9:20pm
  Friend. I will fight this battle again and again. The number of people who will go house to house and take guns from people is so small it is laughable. How many military men, not the typical Army or Chair Force general, would follow the order to do so? Do you think the combat veterans we have in the military now are sheep to be used in such a way? We still have time to fix this. We must educate people. Again, if every Blazer here (Minus you wonderfully entertaining trolls) influence 3-4 people about the facts (not the tin foil hat, isolationist garbage), we could really turn this around. I love the fact that a 3.4% increase in spending is too austere…but people believe that! We cannot cut or remove things until we win at the ballot box. Education will help us do that. We were not that far off this past election. We need to take the Senate back and strengthen the House. The time will come to take back the White House. We merely need to remove obstacles such as McCain and Graham. I don’t know why I even try though…cooler heads will not prevail here.
  
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- The_Fifth_Column
  Posted on March 12, 2013 at 9:46pm
  Wrong answer!
  
  OATH KEEPER
  
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- Disgusted_150
  Posted on March 13, 2013 at 3:02am
  Thanks for adding to the conversation. You’re right, I’m just a “hatchet man for the new world order.” What a life you lead brother, I am sorry.
  
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socialism.rocks
Posted on March 12, 2013 at 8:18pm
no one undestands economics of today..we are past industrial revolution

since clinton we’ve been in a technological advanced economy

there is no way capitalists can create enough jobs for highschool graduates let alone the 40 million people who are adults who need jobs

the world will either go two ways….
libertarian= like the movie beyond thunderdom “madmax”
socialism= like the series of star trek

i am betting on the first cause conservatives are utterly mentally challenged

you are starting to see the real big-players pull their corporations out of the stockmarket and going private corporation…
not because they are anti capitalist but because capitalism is out to destroy them

private corporations will be king

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- Stelex
  Posted on March 12, 2013 at 8:33pm
  Wow, just wow, you are a real “Fn” moron. Thank god this is the extent of your influence. LOSER
  
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- Fubared
  Posted on March 12, 2013 at 10:17pm
  Ooh, socialistic trekky…market guru. Sure.
  
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- drs1969
  Posted on March 13, 2013 at 12:42am
  Jobs can always be created, at the right price. The Chinese and Indians have driven that price far below US min. wage laws. That’s why Bachmann proposed lowering the min. wage. She may as well of f*rted at the church social. Free Trade is not free. It’s a total fraud. It’s impoverishing America. This will end in a collapse of the dollar along with the ongoing collapse of our economy.
  
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- moreoilplease
  Posted on March 13, 2013 at 9:05am
  Rocks in your head
  I don’t think anyone is arguing we are still in the industrial revolution. Shakes head..ok.
  
  The technology age started before Clinton.
  
  Libertarianism is not anarchy.
  
  Socialism in the real world is not like Star Trek. Socialism/Marxism etc. always turns into despotism.
  See multiple examples in history. Bolshevism promise of equality for all and the eventual dissolution of government turns to Stalinism. Not equality and most definitely not the dissolution of government. Marx himself said you cannot have both Marxism and freedom.
  
  I’m sure there are mentally challenged conservatives. But I doubt a mentally challenged conservative would be confused about what libertarianism and socialism really is.
  
  Big market players are pulling there money out of the market not corporations. Some companies have gone private to weather the storm. What twisted view of reality do you think capitalism can destroy. Capitalism works just fine. Unbelievably short sighted fiscal and monetary policy for many years and a side of complete and utter lawlessness attack us all. You think capitalism causes corruption as though socialism is somehow free from corruption. Very uninformed. Capitalism hands down has lifted more out of poverty than any other system ever devised by man, combined.
  
  Real life is not a TV show or a movie. How is it you can form a sentence but be so misinformed about history, current events and apparently pop culture?
  
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- THX-1138
  Posted on March 13, 2013 at 9:16am
  “no one undestands economics of today..”
  
  Except you of course.
  
  Stupidity and arrogance make poor partners.
  
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BlackCrow
Posted on March 12, 2013 at 8:11pm
The one thing not factored in is sovereign debt. The amount of sovereign debt is going to complicate this whole thing tremendously.

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- Stelex
  Posted on March 12, 2013 at 8:24pm
  Stop paying taxes now…….
  
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- tzion
  Posted on March 12, 2013 at 8:45pm
  @Jerk
  Hitler’s economy did well for the same reason that ended the Great Depression: wartime policies and demand. Or do you think FDR placing all the Japanese in internment camps did the trick? By creating a state of war through a false flag attack against his own government, Hitler justified both his own power and the creation of a militarized police state. Since people actually bought into Hitler’s war propaganda they went along eagerly.
  
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- The_Jerk
  Posted on March 12, 2013 at 9:01pm
  Tzion, your theory would be nice had Hitler not climbed from the bottom to the top of the European economic ladder before there was a war. And, the American depression was killed by war, not as you say, but because all of her manufacturing competitors were bombed to oblivion. We were the only store in town.
  
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- drs1969
  Posted on March 13, 2013 at 12:48am
  Hitler was freely elected by a population that had just suffered Hyper-Inflation. Who did they blame? The same ones behind the Bolshevik Revolution.
  The real ‘false-flag’ was Pearl Harbor. FDR had intended it to be Manila Bay, but it took 2 tries to get the Japs to take the bait.
  
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- Fubared
  Posted on March 13, 2013 at 7:22am
  Jerk, the AH pro. And well, AH also.
  
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- tzion
  Posted on March 13, 2013 at 1:41pm
  @jerk
  Reread my comment. I said “state if war”, which began in 1933 with the false flag attack of burning down the reichstag.
  http://en.m.wikipedia.org/wiki/Reichstag_fire
  
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SaturdaysWarrior76
Posted on March 12, 2013 at 8:09pm
This 10 second video says it all…

http://youtu.be/yKHUGvde7KU

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SaturdaysWarrior76
Posted on March 12, 2013 at 8:06pm
Get our houses in order folks.. food, water, etc. Be prepared to help others. Buckle your seat belts too, because it’s gonna be a bumpy ride. :(

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Fubared
Posted on March 12, 2013 at 8:03pm
Silver and lead, silver and lead…

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- Eastinfection
  Posted on March 12, 2013 at 8:16pm
  If it gets that bad i will only need one bullet.
  
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- Stelex
  Posted on March 12, 2013 at 8:27pm
  Hope that bullet is for O East.
  
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- Fubared
  Posted on March 12, 2013 at 8:28pm
  Come now Yeast, share one, dole out the other on an as needed basis-
  
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- hi
  Posted on March 12, 2013 at 8:30pm
  East infection!
  It’s never that bad! Don’t say that. Jesus is where it’s at through good times and bad.
  
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- The-Monk
  Posted on March 12, 2013 at 9:09pm
  Hi East,
  
  No… you’ll need two and don’t ever do there again my friend. : (
  
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