So, the news coming out of the US is all bad these days. Seems like the markets are imploding and going down the tubes. Of course, there are signs that things may be even worse than we are seeing right now. The people who said that the US economy would reach this point all said it would get worse than this. The people who are saying we are at the worst have said so a whole lot of times already, and each time they have been wrong.
Now, the ones who have been crying doom are saying Goldman Sachs and Morgan Stanley may be on the chopping block. If that happens, the economy in the US may as well just pack it in. There is no saving it anymore, no mitigating it. It is simply time for the powers that be to stop the bailout activity and let the chips fall where they may. There is no divine right for a corporation to exist, and since it is increasingly obvious that bailouts are only going to prolong the pain, the thing to do is just to stop. Yeah, it will suck for a bit… my whole survivalist thing may come in handy for a while, but those who are committed to survival will survive, as crappy as things might get.
I saw a letter to a TV station this morning (watching the news while eating breakfast) and the viewer said that many people were being forced to dip into their savings to cover essentials, and that it needs to stop soon. Here’s the bad news: it isn’t going to stop. JWR of survivalblog.com has been talking about this scenario for a couple of years now… so has Sharon Astyk from Causubon’s Book and John Michael Greer of the Archdruid Report. These are the people whose predictions to date have come true, not the ones being paid big bucks to tell you what is going to happen on the market.