Via Greg Hunter’s USAWatchdog.com,
Financial writer and professional trader Rick Ackerman says don’t expect a replay of the 2008-2009 financial crisis where the Federal Reserve bailed out almost everything in sight.
Ackerman explains, “It ended up Lehman Brothers went under, and they needed a couple of sacrificial lambs, along with Bear Stearns. It could have just as easily been, and it might be the next time, Goldman Sachs...”
“So, in that way, the Fed is kind of out of bailout bullets. We’ve already been through a bailout where it took a big hunk of the financial system. Each one takes more bailing out to get to that critical threshold of credibility where the bailout itself works.”
Ackerman sees bailout needs everywhere and gives the example of underwater state pensions across the country. Ackerman points out:
“If you take just one piece of what they are going to have to bail out, which is going to start with the State of Illinois, which is probably going to be the first state that is going to collapse. It will renege on its pension obligations. So, if you picture the federal government riding to the rescue, the minute they bail out the Illinois pension system, California is there, along with New Jersey, Kentucky and a lot of other states, maybe 19 or 20 of them that have pension systems almost as insolvent as Illinois…
This means they are going to have to mail out checks to Illinois and then expand it to California, and all the other states that go under is to court hyperinflation. Of course, hyperinflation, in that sense, you can see where it has to collapse into deflation because… printing so much money that it is not going to buy the pensioner anything close to what it would have bought before the bailout…
So, a bailout is really self-defeating… We can never inflate our way out of this abyss. . . .So, there is no bailout coming… The debts will always be paid by either the borrower or the lender.”
Some people see a “Mad Max” scenario might be coming because of the enormous unpayable global debt. Ackerman contends,
“I am a little more bearish than that. I see a Mad Max scenario as inevitable… I try not to think about it because we’ve all got lives to live and kids to raise… When you go back to the calculous of deflation and that every penny of every debt must be paid, if not by the borrower then by the lender, we have already put ourselves into a condition where Social Security is going to fail. Medicare is going to fail. All the ‘just-in-time’ deliveries are going to be in jeopardy. Food from the grocery stores, one day shipping from Amazon, I don’t see how all these thing s can continue to operate in a condition other than in the false prosperity that we have now. We are at the pinnacle of affluence.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with financial writer and analyst Rick Ackerman of RickAckerman.com.
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Yea, the country is in terrible shape, with Trump not knowing WTH he’s doing and all.
S/
https://www.theepochtimes.com/us-becomes-net-oil-exporter-for-first-time-in-70-years_3161744.html
More records set…
https://www.theepochtimes.com/cyber-monday-poised-to-break-record-after-black-friday-online-sales-hit-new-highs_3161681.html
Very sad times indeed. I have been watching this implode longer than I care to remember. I hear people ask, when is it going to crash? I believe it is already crashing to a huge degree, just look around you. Forget the DOW, when was it ever an indicator of the real economy? No inflation? Who with a sane mind would believe these lies. They have an F-350 Ford at the local dealership that has a sticker of $99,000! This place has gone mad, it will not end well, and shouldn’t.
Does anyone hear know anything about supertankers? Once it’s in motion, a supertanker requires miles to stop. I think of the US collapse the same way. TPTB and duh masses have wrecked the US, but they did it over a long period of time and it hasn’t coasted to a halt yet.
In the meantime, the party continues.
1100 feet long at full speed it takes 7 miles to a complete all stop that’s at full reverse .
But first the helmsman must be ordered to hit the brakes or the auto warning system will automatically start a slow down to avoid collision !
Lucky for us our government only knows how to ram or run aground so this pathetic shit show will continue till ? it’s all they know !
Yea but lets all just blame trump…..
Everyone should watch the first 10 minutes just to get a grip on how crazy this mess is. This deliberately created mess, I might add.
A 90 trillion world economy with 2,000 trillion of money leveraged off of it but we have no price inflation? A can of chili with beans is 1.35 at wally’s. Did you wages go up that much in 10 years?
They claim to be afraid of deflation when we are actually in deflation or depression. Deflation of the value of fiat dollars. Get ready to be put on Scrip only negotiable in the the US. Forget about any money from anything with an SS in front of it. Ever sold plasma? How about Kidneys or lungs?
Ackerman and others are looking for a black swan to crash this mess. I’m looking for a white swan disguised as a drain plug. Remember what he said! All debts will be paid by somebody. We are that somebody, along with every inch of land and every ounce of natural resources under and above ground.
Not all debts are paid, some are defaulted on. I think that is the best case scenario- the US breaks up and defaults.
Kad.
He explains that in the vid. If the borrower defaults then the lender pays. Our lenders are not going to pay. They are going to take our collateral.
Unless we shoot them first
Splurge it may come to that , then all bets are off once we take a stand and go hot .
You are correct fleabag ! Our real property and of course are the collateral . What we believe we own , real property and ourselves are on the auction block , with a more than $2,000 to $1 lean (I know there are way more zeros) but regardless we are in the street with nothing or lined up in a FEMA work camp .
Everything you think you own can and will be taxed out from under you to continue payments for government pensions for your neighbor that shuffled papers in a government office for 25 or 30 years retired at 50 while you get to deliver for amazon or welcome to Wal Mart till you drop .
Remember what George Carlin said “It’s a big club and you and I are not in it”!
However your upper 10% of the population the politicians and their multitude of minions , employed by government can and will squash us like a grape ! The “THEY” in this shit show don’t give a fuck about you your family NOTHING except how much wealth “THEY” can continue to extract by what ever means till you are completely broken ! Then like a Dixie cup we will be used up and thrown away !
FORGET ME NOT
Bullseye Fleabaggs, I have been asking people for years, who is the Federal Reserve? Oh, we don’t know. Well, you can bet your butt we will know when this all goes upchuck. Because they will want us off their property, farm paid for or not, as mine is. Maybe that is a primitive way at looking at it, but seems obvious to me. That is why I called a “set up,” and you just did also. We had a local banker that did it to people all the time; loan them more than they could pay back, then at the worst possible time start making unpleasant demands. That is exactly what I thought the other day when jaybird started lecturing congress on all this debt. I thought to myself, “oh %@$# here it goes, we are getting close now!” I have seen this before, just my opinion, thanks
O.T.
I think we have to reach a certain age before we can face a grim future. I try to tell the younger crowd so they might be able to grasp it after the fact. Otherwise they will be tarring and feathering the wrong people.
You’re right, the hints are getting louder. Henry K the triple agent just made a speech about America has to move aside.
Did you trap muskrats and weasels as a kid. The farmer down the road bought furs all winter to sell to buyers in spring. He would loan us traps and buy the pelts from us at the going rate. We used to dream of getting a weasel because they had a 10 dollar bounty. Decent rats were 50 cents, good ones 75. Low brass 12ga. were 3 cents each up at the gas station.
Almost everything except weasels, we didn’t have them here until much later. I can still remember the day, though. The stupid conservation dept. brought them in here and turned them loose in front of T.V. cameras, I just happened to be driving down the dirt road and came up on the whole scene. In about three years, them weasels bred like Amish and just about cleaned out everyone’s ponds, kill fish and leave them lay. We are about rid of them now, thankfully.
When I was kid, we could be anywhere within about 3 miles of the farm, fishing, hunting, skinny dipping. At the creek, we would stop up the culvert (steel pipe about 3 ft in diameter) with a big piece of plywood and then one of us would crawl up in it naked and the other pull the plywood straight up from one corner. Man you could ride a wave for 25 ft down the creek, yep. I never even saw a rod and reel until I was half grown, we just cut a pole and wrapped it with fishing line. I have heard a few people say their wasn’t anything good about the good ole days. Well, count me out on that one, I loved it and miss it very much.
I go down to our little cemetery and walk around and look at the names and remember, mostly in tears.
At 13 we moved to the city and it was all downhill after that.
“Otherwise they will be tarring and feathering the wrong people”
Now you understand all the media narratives like “ok boomer”. They are causing distractive divide.
Too many here feel they own their property. Whether you owe the bank or not or have a lot of equity it wont matter. Look at history. The bank will go after it or the govt via taxes. If you have money, real money, you can afford to stay until a certain politician wants your land then nothing but force will keep them off it. That is why I mortgaged mine and backed it with gold.
Goldman Sachs isn’t going under, they pay off too many congress critters.
Well, if we go Mad Max
(Gibson, not Waters)
I already got me a hockey helmet with a face cage, some shin pads, and a pistol with 2 clips.
Only thing I’ll need is a rig like the new Tesla truck, and I’ll be all set.
Wait. I’d better rethink this.
By all means, then, let us import as many more black Africans as possible.
https://www.bbc.com/news/world-africa-50586514?fbclid=LOL_stupid_niggers
Sub-Saharan Africa is the way it is because it is full of Sub-Saharan Africans.
Followed the link. Seems all those starving africans sure are fat…..
Want to fix the problem? Quit sending aid, especially food. The problem will go away. Research how much of the “Live Aid” money and food just disappeared. :/
Just wait for some new Black Swan event. The next Election? REO loans with the fed?
I LOL’d at the idea of Goldman Sachs going under, but out of curiosity I looked up their insider ownership percent – it’s less than 1.5%. Holy crap, they might just strip it of all its assets then burn it down just to fuck the commoners who currently own it.
TC.
All the wise guys have been quietly backing out and into pm’s and grain silos etc. while the pensions and 401’s etc. load up on junk to be left with nothing including gold etf’s and other paper PM’s.
Once again, spot on Fleabaggs.
The fat lady may not be singing but this opera is about to reach a shit show crescendo with all the fat ladies screeching !
When the government pension checks are delayed , short or bounced which basically all government checks are made solvent by borrowing so technically those receiving the money are responsible for the debt LMAO !
We know the plan , tax us into the street . Sure that will end well LMAO !
So long as the fiat is accepted as legal tender that exchanges for goods and service this shit show can continue for a very long time. The dollar is still the cleanest dirty shirt and so long as the demand for same continues, well, you get the picture.
Doing a hypothetical re collapse is all real interesting like and all but no one knows when it will happen, if it happens in my lifetime, well, I’ll adapt or move on to the next plane.
Hey ackerman, welcome to the prepper community. Ha ha