Some people I know have started a pool to see which country or which country's economy will collapse next, and if you had Iceland, come claim your prize!
Actually, the recent events in Iceland aren't too terribly funny at all. Democratically elected governmetns don't normally just fail to exist one day. When banks collapse and people are in the streets attacking guvmint buildings then the Schumer has already hit the fan. What is happening now in quiet, peaceful, relatively conservative and secure Iceland will surely spread to mainland Europe once it finishes decimating the British banking system and economy. World wars have been started for less, two of them in fact in the last century alone.
What happens in Europe most certainly affects what happens in these united States. Take a look at this slideshow from the UK Guardian. There are so many unsold cars (from the manufacturers to the dealers, nevermind the retail pile-up of unsold vehicles) that one company has been forced to use its race track test course for a parking lot of depreciating assets. Ouch. I've seen stories here from Long Beach, CA, that show how they are literally running out of open land and space to store all of the unsold inventory. Previous readers of my RiSE-LA blog may recall the pictures of all of the unclaimed containers that ships had delivered to ports around the world, only problem was, the folks who were supposed to show up and pay for their goods (that's the "C" as in cash as in C.O.D. for those of you that went to a government/public school) never did. Multiply that scenario by dozens of ports and then multiply that by the number of companies and the number of containers each company abandoned...well you get the idea.
The old axiom of global finance used to be "When America gets the sniffles, the rest of the world gets the flu." In the recent era of mass globalisation, the American patient has gone way past the early stages of influenza and has a collapsed lung, advanced pneumonia, severe bronchitis and may need a complete anal-cranial inversion operation to set itself straight. Since that won't happen over night, the pain will continue.
When you're in a fight, there's no better feeling than knowing that at the exact moment you need them, you can call your friends and allies and they too will join your fight and make your cause theirs. Uncle $ucker doesn't have too many friends left thanks to the dangerous and illegal policies of Bush43, and when the news is this bad for our #1 friend, the UK, I don't really know what else I can tell that isn't so painfully obvious. These are unprecedented times. The rapid encroachment of government into areas of personal and corporate finance that have taken place in the past 6 months, hell the past 6 weeks, are unprecedented.
The British currency dropped for a fourth day against the euro after Bank of England Governor Mervyn King said in a speech yesterday the central bank may start buying assets within weeks after cutting the main rate to the lowest level since 1694.
They've already talked about nationalizing all of the banks in Britain, even the few that are still sound and solvent. That's Facism with a Das Kapital "F".
Keep preparing. Your safety and security are yours and yours alone to worry about. Sunspots shorting out global telecommunications and electronic commerce a real possibility? Check. Democratically elected governments reneging on their loans to other governments and causing them to collapse? Check. Coldest weather in recorded history in numerous states, where gasoline and water freeze in the pipes in the ground? Check check check.
Power - water - food distribution - law and order - arson fires - full scale looting
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