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Monday, 31 March 2014

More Predict Wall Street Collapse

I've been predicting the next financial crash ever since the last one.

The Coming Financial Crisis 

Yes Indeed, Another Crash Is Coming 


By Al Lewis, The Wall Street Journal


It isn't easy flapping my wings like Chicken Little while the stock market races to new highs and economists drone on about a recovery, but history is on my side.

I have witnessed the 1980s savings-and-loan crisis, the 1987 stock-market crash, the 1997 Asian financial crisis, and the 1998 collapse of a hedge fund called Long-Term Capital Management that had to be bailed out before it took down the global economy.
Then came the 2000 dot-com bust. Then, the 2008 financial crisis and the muck our economy has been stuck in ever since.

Every crisis is different in detail, but the cause is always some variation of the same game: High rollers amass debt until they can't pay it off, and then they default, setting off a string of insolvencies that can be stopped only by putting taxpayers at risk.
Systemic fraud is exposed in every crash, but little is done about it. Big business, big government and big bankers are too often from the same self-dealing clan. The most culpable among them will claim no one could have possibly seen the big crash coming, even though plenty of warnings went unheeded.
Economists working for the looting class often compare the economy to the weather. They claim that unavoidable cycles cause crashes, as if the economy were a natural phenomenon, existing apart from humanity. But humans create economies, and humans cause financial disasters.

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