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EmailSunday, May 17, 2009
Executive Summary
- Stop waiting for "it" to happen; it already has.
- Keep the big picture in mind.
- This is a crisis of too much debt, not too little spending.
- This is a global crisis.
- The energy situation is getting worse, not better.
- It's not possible for an insolvent nation to borrow money from an insolvent financial system to bail out insolvent financial, real estate, and insurance companies.
- Change is necessary, and we must embrace it.
If you have been waiting for further confirmation about the direction of the economy, or waiting for a sign that it's now time to get serious about preparing for a future filled with less, this report is written for you.
My job is to provide you with a big-picture view of where we are and where we are headed, with an emphasis on clarifying the ways in which the dominant spin-cycle news machinery attempts to lure us back into the false comfort of borrowing and spending more.
At ChrisMartenson.com, people often wonder about what they'll do "when things fall apart." A frequently-used acronym-containing alternative to this phrase is "when TSHTF," where the "F" refers to a fan and the other letters to something else hitting the fan that I will be coy about, so as not to offend anybody's sensibilities or trigger any spam filters.
I have news for everybody: It has hit the fan.
Your faithful information scout,
Chris Martenson
Copyright 2009, Chris Martenson. All rights reserved.
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Comments
Terrific article Chris! Thanks again.
Egads. That poor, poor fan...
I guess I have to move up that gold-buying trip to NYC...
Viva -- Sager
You go, Chris! I can't tell you how much I appreciate the clarity with which you communicate our situation. Nice job!
Thanks, Chris. I read that little CNN article and it was an excellent break in tradition for the corporate media. I'm still trying to understand how it can make sense to anyone to throw more money at entire industries (banking, American cars) that appear insolvent and deliver a questionable product at best...
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Chris,
Leave it to you to put the puzzle together like no other.... Thank you for all of your hard work and insights!
Mike,
I think we all feel a bit frustrated at times. I am concentrating efforts on my family, friends and community...
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So the shoe has dropped but we just didn't necessarily hear it. I can accept that. I've asked our grandmother about the depression and that's exactly what she reported (people didn't really see it at the time). From the sound of things though, this time seems "worse" than the 1930's depression...
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I really wish that there was something that I could do to convince others of the direness of the situation.
The writing, once shown to you, is very clearly on the wall. Yet I know folks that are pouring their money out of CD's and money market accounts and putting everything back into the NYSE and NASDAQ because they "want to get in on this bull market early"...
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Well, I finally subscribed and glad I did. I have a nagging question. Why does Chris Martenson rent his home instead of purchase one? Anyone?
homes are a liability (cash outflow), not an asset (cash inflow). it's smart to stick the liability with the owner and just pay rent to live in it. rent is cash outflow as well, but in a real estate crash which still has farther to go, house prices will continue falling (why buy one yet?), and rent will be a declining outflow as owners accept lower payments to avoid vacancy due to depression conditions (unemployment, lower ability to pay), whereas mortgage payments are locked in...
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LindaBobzien wrote:
Question for all of you out there that are more financially astute than I.
What do you think of selling the commodity ETF's in the IRA (take the penalty now - I have had my finger on the trigger) and pay off the small mortgage (less than 100k) vs...
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