Asian markets are disintegrating overnight.  Check any news source you like, it’s nothing but bad news out there, and this looks to be a tidal wave following the sun around the globe.    The markets have not capitulated… yet.  It’s close though.    Beatdowns are being delivered across the board… stocks, bonds, credit markets, foreign exchange, you name it.  This is a crisis of confidence of historic proportions, folks.

For an intriguing perspective on this mess, check out William Engdahl’s latest piece.  I think Engdahl went off the reservation with his embrace of abiotic oil, but his perception of other forces at work is pretty good, I think.  What Engdahl is describing is stealth economic warfare right now, as the various shadow powers struggle to determine the new financial world order.   If this mess doesn’t get fixed soon, the warfare could end up being more than just economic in nature.  I’m not trying to be a scare-monger here… financial crises are often the start of major conflagrations.

I’m no fortune teller, so I have no idea how far into the abyss this whole thing is going.   It’s not looking very good right now, and the people calling the shots seem to be more interested in covering their own asses rather than trying to truly fix things.    Keep your eyes open, think about your future, and stay flexible.   Pay attention, and be prepared.


3 Responses to Meltdown

  1. Shasha Cedar says:

    It has been equally enthralling and terrifying to watch the current stock market events. What is going to be the repercussion for us? Be prepared.

    (aka Emme)

  2. Bart says:

    The repercussions? Many…

    This is probably the end of cheap consumer credit for a long while. People who lease cars, take advantage of every ‘buy now, pay next year’ special and rely on credit cards a lot will be in for a reality check. Frugality will be in vogue whether we like it or not.

    Our economic system will be remade… I’m not sure how yet, but it should be obvious to all that lax (or lack of) regulations leads to unfettered greed and corruption. We should see a return to more regulation… how far we go is hard to say. Right now, we’re all socialists whether we like it or not.

    In the short term, be prepared. I’m heading out of town this weekend on a short road trip to see an old friend. I’m taking enough cash with me to make sure I can pay for gas to get home without having to rely on plastic. Will things come to that over the weekend? Probably not, but the way things are right now, who in the hell knows. I’d rather just pay for my gas with cash and be done with it rather than be 200 miles from home and panicking because my card is rejected.

    Most of America is woefully unprepared for even a short-term disruption in power, food or other basic necessities. Having a little extra food on hand probably isn’t a bad idea.

    Again, I don’t think it things will break down over the weekend, or anytime soon for that matter… currently most of the issues are at the level of global finance and the stock markets. If things continue this way, though, it will start trickling down. If the truckers that bring most of our goods to market can’t get the credit they need to keep their trucks running, that’s when the shit will start hitting the fan.

    For now, don’t panic, but be prudent, and aware of what’s going on.

  3. Verde says:

    I hear you and am right there with you. Winter is breathing down our necks – I’ve brought all the produce into my kitchen where it sits on countertops and chairs (can’t sit on the floor because the border collie raids the baskets and squirels vegies all over the house). we saving as much as we can for winter because it may be a bleak one before we’re through.

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