With the stock market having begun its crash and the federal government having refused to intervene, many of you are now asking "What's next?" I have the answers and they aren't pretty.
The stock market will continue its slide, losing one-third to one-half of its overall value within a week or two. Those with pensions will see dramatic decreases in their monthly checks.
The dysfunctional credit markets will not change in any meaningful way in any effective time frame. As things stand now, almost no one can get credit. Consumers cannot get loans to buy cars or houses. Businesses cannot get loans to meet payroll, re-stock their inventory or buy raw materials to do manufacturing. With the situation as it is, we are going to watch almost our entire economy grind to a halt.
As the economy tanks - which will happen extremely fast - people will be laid off or let go as companies downsize or go out of business. So look for massive unemployment very fast.
With millions of people losing jobs, the number of defaults on credit card payments, mortgage payments, car payments and the like will absolutely skyrocket. The sheer number of defaults will take out over one thousand U.S. Banks.
The U.S. Government will try to shore-up the banks and the economy by spending more, but no one will lend them the money so the government will print it. As the government prints several trillion more dollars, the rest of the world will reject our currency as worthless.
When that happens, all the goods we import from abroad - including oil - will become stunningly expensive, then run out as overseas manufacturers simply refuse to accept our worthless money.
With almost all U.S. manufacturing jobs having been shipped overseas under NAFTA and GATT, we don't even have the infrastructure to resume manufacturing here in America.
When oil stops flowing in from overseas because OPEC won't take our cash, the real trouble starts. Without oil to provide diesel fuel or gasoline, trucks will not have fuel to transport food or anything else.
As trucks run out of fuel and deliveries cease the cities will run out of food first. Most supermarkets only stock two to three days worth of food. No trucks means no deliveries and within days, the cities will run out of almost everything. This will cause almost immediate civil unrest by "you-know-who."
Roving bands of hungry savages will then take to the streets looking to feed themselves. It will be ugly anarchy. People will be killing other people for food.
Police will be almost immediately overwhelmed, making 911 useless. If you cannot protect yourself, your family and your property with guns, then you will likely die.
When the cities are cleaned out and the savages have stolen all they can steal, they will turn their sights on the suburbs. Small suburban police departments will be instantly overwhelmed. Only those citizens who can protect themselves with guns will survive.
We are entering a new phase of life here in America: survival of the fittest.
This is not necessarily a bad thing.
When "you-know-who" comes to loot, steal and kill they will get gunned down; and I think that will be a really good thing; we'll finally be rid of "them."
With no jobs, the illegal aliens won't have any incentive to stay, so they'll leave too. That will be a really good thing because we'll finally be rid of "them" too.
But the best part of this will be what happens to the "money-changers;" descendants of those same vipers that Jesus threw out of the Temple. They are going to get it really badly because in the end, every one of us knows they are the ones who caused all of this financial turmoil. If they thought World War 2 was a holocaust, they should stay tuned; this time we'll get it right. Once we are rid of these parasites, things will be better for decades.
For the short-term, the pain of survival of the fittest. Yet in the long term, the gains we make will ultimately outweigh the pain.
This is long overdue. Prepare to lock and load. Good luck.