I have been sitting around watching shoes fall and it is raining shoes everywhere. It is a veritible monsoon of shoes falling all around us. Things are not only getting worse but getting much worse more quickly. Marxism has completely failed and is taking everything down with it.
I told you that the EU loaning Greece money to ease Greece's debt problem would only make things worse by increasin Greece's debt problem and cause an eventual default of Greece's debt but at a much higher level than if they had just let Greece default before the loans. I have been sitting watching the Greece debt problem get worse by the day knowing she has no other option but to eventually default because there is no way she can pay back all that debt she has run up. Mean while I have been watching the intelectually superior upper class trash try to solve the problem by doing the absolutely stupidest thing they could have done which was to keep increasing Greece's debt by loaning her more money.
Well, they have kicked that can down the road one too many times and have now run out of road. There is no more road to kick that can down and Greece is right now defaulting BUT note that all the commie media are covering the default up with smoke and mirros. This last July, bankers were pursuaded to write off the money owed by Greece by 21% of what Greece owed them. This was not called a default by the commie media but it is a partial default on Greece's loans. A default by a country IS that country's debts being written off by the lenders as a loss so that debt will never be paid back. Therefore, the default has already begone and all hell is breaking loose as I write this essay but it gets worse.
The banks were notified today that they may (read will) have to write off more than than the agreed 21% of what Greece owes them because the problem is just getting worse, you know, like I told you it would. This will soon escalate completely out of control with a crash of major banks which loaned Greece, Ireland, Portugal, and other countries money to cover their debts. You are about to see really big dominoes crash into each other with blinding speed and there isn't enough combined intelligence in the upper class trash who caused this problem to stop the problem, which, of course, is why they have kept kicking the can down the road instead of solving the problem years ago.
The arrogant idiots have killed our countries, economies, and the global economy, these countries and economies are dead and just have not finished kicking yet but, don't worry, there are not too many kicks left in them.
Mean while, in the US, I had told you that the housing market had lost a record 34% of its value in less than 4 years by this last July as compared to the housing market only losing 31% of its value in 13 years during the Great Depression with more people still losing jobs every month than are finding jobs. At that time, they predicted that the housing market would lose another 2% by the end of the year and I thought, probably more likely 3% to 5%. It was recently stated that they adjusted the anticipated loses for the rest of this year to 6% and I am thinking, that probably will mean another 5% to 10% in loses for the housing market by the end of the year.
If their revised 6% holds true, the housing market will have lost 40% of its value in just about 4 years, a new record. That means the housing market could quite possibly lose up to 50% or more by a year from now. Some one please try to convince me we are not in a super depression. I recently saw an arnticle by some one who has also realized we are in a depression stating that our depression could eventually get "almost" as bad as the Weimar Republic (German) Depression of 1921 and 1922 which was the worst depression in modern history.
Of course he was wrong because this depression is already almost that bad and accelerating quickly. The economic black hole I predicted years ago is imploding right now and being covered up by our lying liberal commie media saying the "recovery is slowing." Yeah, right. Sell me another bridge because I am not buying that one!!
I recently read an article by one journalist who stated that he was a class mate of Obama's at Columbia U. and there were these two commie professors who taught and encouraged the economic overthrow of the US by causing extreme government debt. The journalist said that everything Obama has been doing is right out of these commie professors' book on how to overthrow the US government. You still think Obama is not a foreign agent working for his King, King Abdullah of Saudi Arabia, to overthrow or conquer the US from within?
When Obama Bin Laden got into office, the US government was only about 1.4 trillion dollars in debt and he is currently working to increase the US debt in the next year by more than 2 trillion dollars up from an already existing 14+ trillion dollars. You think he is not intentionally trying to take the US down the same road that is being traveled by Greece, Ireleand, Portugal, Spain, and the rest of the Marxist countries? We have been delivered into the hands of our enemies, you know, just like the Bible says.
Well, back to watching the shoe monsoon. Mean while...