Eva: "From Chaos comes order...the New World Order"
It seems impossible to predict the "timeframe" that events unfold...but, a couple of recent observations:
I've read many newspaper articles from medium sized midwestern cities lately (Grand Rapids, Mi...Rockford, Il., South Bend, In. for example) where heat (usually Natural Gas) is being turned off to the working poor, churches and even small businesses...as people can no longer afford to heat older (energy inefficient) homes and commercial buildings (older Churches -- an especially big problem)...and we had a mild winter in the midwest !
Large blocks of homes in some neighborhoods are becoming -- uneconomic due to the rise of energy ultility bills over the last couple of years. This is the old housing stock built across the midwest in the 1920's thru even the begining of the post-WW II building boom in the late 1940's, to early 1950's. Big, older homes that are still very solid, completely habitable and functional...other than the heating bills are now nearly equal to the underlying mortgage, or rent payments during the winter heating season.
The price of entry-level new homes are 2-3 x the price of these older homes...there is no alternative housing. I think we'll see a return to what we saw during the Great Depression -- multiple families living in single family homes.
I've also read numerous articles about how many cities are nearing a crisis level of uncollected property taxes...as low, to even medium income families -- must choose between energy and taxes. Incomes are still at 1989 levels when adjusted for inflation...and that's with incredibly corrupt inflation numbers. We have a "0" savings rate in America and are sitting atop an unprecedented debt bubble.
In the coming two years -- we have a huge reset in adjustable rate mortgages and on consumer loans that will total hundreds of billions of dollars that will come out of income that would otherwise be allocated to consumer spending -- which is 2/3rds of U.S. GDP.
Also, I've read a very interesting research report concerning the significance in which the new Bankruptcy Reform laws will impact the US Economy.
... no more wipe the slate clean and get a fresh start.
The new law allows credit card companies, consumer finance lenders, banks and mortgage companies to very easily and quickly move to judgement and garnishment of wages for the payback of debt that can no longer be discharged by Bankruptcy.
James Cramer recently featured a company on his show -- as a Top Pick, that is a collection agency that is specializing in this massive new area of debt collection.
...again, a surprisingly huge chunk of money that would otherwise be recycled back into consumer spending and the economy -- will no longer be available.
The old Industrial & Manufacturing cities in the North and the Midwest...are getting hollowed out. Cities & States have grown public employees and spending like drunken sailors....but, now find themselves at the tipping point of a debt & budget crisis.
The State of Illinois has incredibly underfunded pension plans and is dangerously deep in the red. So, you see politicians come up with these complex Toll Road -- sales, or lease back proposals that line their pockets and allow some re-jiggering of the States balance sheet...selling off the peoples assets --to keep their run-a-way spending and automatic pay raises & cushy benefit packages intact....along with whatever else they can rake in under the table (and in Illinois - they do rake in plenty).
Many individual States are within a couple of years of facing the reality of massive Tax Increases to remain solvent. Property Taxes and Income Taxes will have to be raised substantially. In the interim -- politicans know that raising taxes is the last resort...so, they're selling off infrastructure assets of the people -- piecemeal.
People who live on both coasts -- really are insulated from this fracturing of America's economy...but, soon, it will spillover from being a regional problem, to becoming a national problem that significantly impacts the entire US Economy.
When, where and how...did America arrive at a time and place to where the Fed and US Politicians had the right to corrupt our currency and create a massive debt & credit bubble to bail out Investment Bankers, Hedge Funds and the Stock Market ?
It seems we are now running the country -- in reaction to what the market wants....not, what is best for the country and it's people.
...and that's why the New World Order/Globalists sooooooo badly want to roll over the US Social Security System into the market. Then -- they'll have the support of nearly "all of the people" for the Fed & Politicians to do "whatever they deem necessary" to keep their "retirement" afloat and the market propped up...
Jobs have become America's # 1 export !
Interesting times...
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