About an hour long interview with Catherine Austin Fitts on November 26, 2012. Ms Fitts always has interesting ideas and out of the box thinking. She also is well aware of how government can become bloated and inefficient, let alone corrupt.
November 30, 2012
The Truth is in the Revision
As always the imaginary number gets the ehadline, but the “revised” stat is buried on the back page 6 months later.
Here is a summary from John Williams at shadowstats.com:
Third-Quarter 2012:
– Revised GDP Growth Was Flawed and Statistically Insignificant
– GDI (Theoretical GDP Equivalent) Rose 1.7%,
With Second-Quarter Falling into 0.7% Contraction
– Durable Goods Quarterly Contraction Deepened in Revision
– New Homes Sales Quarterly Gain Largely Revised Away
Forward Thinking
Groovygirl has often talked about the paradigm shift happening right now in every aspect of global structure. From debt collapse to banking to food to government. This paradigm shift is driven by three main issues: debt, increase population and shift in demographics, and peak energy.
Since the beginning of the industrial age, these main systems have worked well. Or they have been modified to continue to work adequately to move forward, not back. However, the production model which is the basis for everything in first world countries from food production to derivatives to education to military doesn’t work anymore.
We have clearly moved into the information age, but the main systems of society are still in the industrial age. Charles Hugh Smith makes a comparison to the last time we had a major shift: from agriculture to industrial. The final push of all society into industry/production systems was the Dust Bowl, even though the Industrial Age started 50 years earlier.
Click here. Good post.
The systems and solutions of the past will not work. It is a waste of energy to focus on those things. Much better to discuss completely other ways of doing things. Having said that, the possibility that people in power will give up their power in a known system for no power in a new systems is highly unlikely. So, we will have to wait for the collapse of these systems. In the meantime, be thinking and experimenting in your own limited environment to find out what might work or not work.
November 29, 2012
It’s popped
The current debt bubble, student loans, has officially “popped”. Click here.
November 28, 2012
November 27, 2012
Peak Energy
Groovygirl falls into the Peak Energy crowd. Groovygirl was in the peak energy crowd before the 2007 peak oil report came out, because she understood the cycle of the contraction of debt.
The entire energy economy (and thus the entire economy) is powered by debt. Debt to get it out of the ground, debt to build refineries to process, debt to buy trains, trucks, and pipelines to move it where needed, debt by consumers and companies to purchase it who use it day-to-day. When the debt machine contacts, even a little, the cost of energy goes up, because of the lack of debt availability. A drop in consumer demand will never be low enough to compensate for the lack of debt.
The fall in availability of energy and the petro-dollar only adds/accelerates to the main problem: energy must cost more in the future. This will affect everything from building to travel to food to military.
Here is an interesting conversation about how peak energy (not just oil) might affect your financial decisions.
November 26, 2012
Latest Blog Post from Martin Armstrong dated November 26, 2012
Click here for the latest blog post from Martin Armstrong entitled Government by Crisis dated November 26, 2012.
Latest Blog Post From Martin Armstrong dated November 21, 2012
Click here for Martin Armstrong’s latest blog post entitled Why There Can Not Be A Peg dated November 21, 2012.
muses of the moment 