Dancing on the Global Fiscal Cliff

economysinking Dancing on the Global Fiscal Cliff

And the depths of chaos beckon while the financial sands beneath our feet shift into oblivion. Today, we offer you a metaphor salad to describe the current progress of the financial apocalypse. Yep, more happy news from the economic war front.

To say we are skating on thin ice globally as well as here in the US is an understatement of epic proportions. It’s the new and improved walking dead economies – it’s the end of the economic banking world and I feel fine. In fact, it should leave all of us breathless.

While Wall Street manipulates the hell out of the markets and bankers play games with our future (and they have butter fingers by the way), we are told to chill… everything is under control and we are in a slow recovery. Black is white; up is down. And by the way, I have a bridge that is to die for — just sign here. Never mind the second Great Depression taking place. Pardon moi if confidence is in the toilet these days and if we don’t believe the powers that be any more. We’re fickle that way.

It was claimed that MF Global was a freak – that it would never happen again. That is until PFGBest came along and made lightning strike twice in the same spot. What? Nothing to see here sheeple… Quick, invest, invest, invest! From The Economic Collapse:

PFGBest is a brokerage firm in Cedar Falls, Iowa that mostly handles agricultural futures.

All hell broke loose when the National Futures Association discovered that a bank account that was supposed to be holding 225 million dollars of customer funds was only holding about 5 million dollars instead.

So where is the other 220 million dollars?

That is a very good question.

Of course it is not a promising sign that the head of PFGBest tried to commit suicide when this news came out.

Next, we were told a wave of city bankruptcies would NEVER occur in the US, we nodded and smiled like idiots and said that we believed the weasel politicians. California is turning into Greece at an alarming rate with three cities in the last 2 weeks going toes up and many more to follow — first came Stockton, then Mammoth Lakes and now San Bernardino. Just nod some more if you get it now. From The Los Angeles Times:

The city’s fiscal crisis has been years in the making, compounded by the nation’s crushing recession and exacerbated by escalating pension costs, lucrative labor agreements, Sacramento’s raid on redevelopment funds and a city reserve that is tapped out, officials said.

And this is not unique to California. It’s happening all over the US, you just don’t see it in the press because it makes Obama look bad. Take a long, hard look at Scranton, Pennsylvania where all city employees were just put on minimum wage. They wouldn’t raise taxes (who would want to?), so the mayor reduced wages. He had to do something because they are BROKE.

We were told to have faith in global interest rates, that they couldn’t possibly be manipulated by insiders — that is until the LIBOR scandal. Whoops! In fact, watch this scandal… it will literally rock the world and bring economies to their knees. Count on it. If financial dreamers dream, then it’s nightmares all around. Welcome to global collusion. More from The Economic Collapse:

It turns out that banksters have been colluding to fix global interest rates for years.

“Liborgate