A Glimpse into the Coming Collapse
By Jeff Thomas, International Man
Starting from 1999, we forecasted an impending systemic economic collapse that would affect developed nations and ripple through other economies. We began identifying the “dominoes” that would fall in this process, labeling it the “Great Unraveling,” which we believed would unfold over approximately a decade. We estimated that the first two dominoes— a real estate crash followed by a stock market crash in the United States—would take place around 2005.
In hindsight, our timing was off; the initial crash did not occur until 2007. Moreover, we often miscalculated the timing of subsequent dominoes as well. While our predictions about the events themselves have generally been accurate, our timeline has frequently been premature.
Regrettably, the actual events of the predicted collapse have largely unfolded as anticipated. Continue reading
Irony often calls for reflection and consideration. Recently, a striking example emerged into the public eye. We could hardly believe our eyes…
The Associated Press reported, “A Vatican monsignor, already on trial for allegedly attempting to smuggle 20 million euros ($26 million) from Switzerland to Italy, was arrested for a case involving money laundering through Vatican bank accounts.”
In the southern Italian city of Salerno, financial police stated that Monsignor Nunzio Scarano, known as ‘Monsignor 500’ for his favored banknotes, had transferred millions of euros via fictitious donations from offshore companies through his accounts at the Vatican’s Institute for Religious Works.
At Economic Prism, we view this as additional testament to living in an era warned of in the New Testament—”Ye cannot serve God and mammon,” as conveyed by Matthew from the Sermon on the Mount. Continue reading
“Carpe diem quam minimum credula postero,” wrote the Latin poet Horace in 23 BC.
This famous line is generally translated as, “Seize the day, put very little trust in tomorrow.” However, its true meaning can be easily misinterpreted. Does it imply that one should skip work and disregard worries about the future?
Initially, that may be the impression. Yet from what we understand, Horace was conveying a deeper message: the future is unpredictable, and one must take active measures today to prepare for it. In essence, planning for the uncertainties of tomorrow is paramount.
Additionally, Horace might have suggested that preparing for a future that differs from the present is crucial. The only certainties in life are death and taxes, along with the inevitable nature of change.
Change can be subtle or dramatic. Consider the world before and after pivotal events like 9/11 or the assassination of Franz Ferdinand. Continue reading
Harry Reid has proven himself quite the condescending figure—what a character! Not since Teddy Kennedy has a U.S. Senator seemed so hungry for a knuckle sandwich.
On Tuesday, the Senate Majority Leader was confident he had a victory in hand. However, he miscalculated. Votes on two proposals to renew emergency unemployment benefits, which expired shortly after Christmas, fell through.
You can practically hear the strain on the tree branch of extended unemployment benefits for 1.3 million long-term unemployed individuals. If a compromise isn’t reached when the Senate reconvenes later this month, it may snap entirely. Then what?
We aren’t sure of the outcome. Yet, it’s likely that many will need to find a swift solution, driven by necessity.
This situation epitomizes the peril of tree branch economics. As stated earlier this month, we do not advocate the expansion of government programs. Extended unemployment benefits ideally should have never been instituted. However, recognizing the injustice in creating a dependency tree branch and then abruptly severing it is crucial. Continue reading
In summary, the intricate dynamics of economic predictions and real-world events reveal the importance of foresight and preparation. As circumstances continually evolve, being adaptable and ready for change can guide us through uncertainty, underscoring the timeless wisdom of seizing the present moment while preparing for the future.
