|There is little doubt that the United States is
|headed for in the midst of a serious economic disaster. At the start of 2008 news sources began to present a dire string of reports on the fall out from the sub-prime crisis, a situation that was apparent for months before and reported in the foreign press. As the months progressed, it became apparent that the problem extends far beyond mortgages given to people who couldn't afford them.
Those with level heads watched in astonishment as the government bailed out private banks and insurance companies, and even considered bailing out the foolhardy homeowners who got in over their heads, much to the disgust of those who lived within their means.
The United States and, in fact, the entire world is now facing the probable collapse of an empty banking system. I won't go into a detailed analysis of the situation because frankly, it is too complicated to understand - even for the financial wizards who created this mess in the first place. Take the iconic Alan Greenspan, the former head of the Federal Reserve, who admitted that the economic meltdown left him in a "state of shocked disbelief."
Suffice it to say, economic pundits have stopped using the "R" word (recession) and have started using the "D" word (depression). According to a CNN poll, 60% of Americans believe that we are headed for another Depression. The bad (worse) news is that when people believe that a Depression is on the way, they stop spending and investing and further the dire scenario.
The crisis isn't limited to the United States. In a global economy the entire house of cards is
about to collapse collapsing. In fact, an entire nation, Iceland, has gone bankrupt. Who could have conceived such a notion even a year ago? Toss in the wild cards of grain shortages, oil wars, outsourcing, climate change (is it global warming or the next ice age?) and international hostilities and you have a really excellent recipe for disaster soup. Add a sprinkling of Islamic terrorists, a dash of crazed Venezuelan dictator and ... well only God knows what's ahead.
Expect the unexpected.
Food riots are now a reality, and it won't be long before we experience them in our own cities. Economists tell us that since we’ve stopped storing grain, the entire world has only a 53 day supply. Perhaps it is less now.
When I began to write this, in the beginning of 2008, Frankly, I think most Americans are completely oblivious about the impending economic disaster. We’re too busy amusing ourselves to death. When we've plunged into the equivalent of the new dark ages, our enemies will be ready. The radical Muslim world has a long memory and although it’s not politically correct to say so, the current situation is really just a continuation of the Crusades. If the day comes when Americans sit stunned in the darkness without their television sets and air conditioning, the people who live in caves will be ready. When we can't heat our homes and fuel our SUVs, the crazed oil rich Venezuelan dictator will be ready to step in to "help us out" – along with his new found friends, the Chinese and Russians, who already own more of our economy than any of us care to think about. If we think about it at all.
It's Y2K all over again - but this time, it's for real.
While we don’t have the answer to what is in store in the days, weeks and months ahead, we do know that prices for food, housing and
gasoline are soaring beyond the reach of many. We do know that many businesses will go have gone bankrupt and thousands, if not millions will lose have lost their jobs, their health insurance, their pensions and their ability to survive.
When these poor souls try to figure out how to provide for their needs and wants, it won’t be pretty.
e lived in the bishop's house like those spoken of in the Acts of the Apostles:
No one possessed anything personally, but they had all things in common.
We sold our possessions and gave to the poor, so that we would live from the common store.
And common to all of us would be the exceedingly great property, God himself.
Saint Augustine -- Sermon 355, 2
Prayer. Lord, whatever you give me is too little for me.
Be yourself my inheritance! I love you without reserve:
with all my heart and all my soul and all my mind.
Of what value is anything you give me that is not yourself?
Similarities Between 1933 and 2008 Terrifying
The following stores informed the Security Exchange of plans to close between October 2008 and January 2009:
Ann Taylor- 117 stores nationwide are to be shuttered
Lane Bryant, Fashion Bug ,and Catherine's to close 150 stores nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down all stores
J. Jill closing all stores
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January.
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January.
Home Depot closing 15 stores
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Galley Closing all stores
Pacific Sunware closing stores
Pep Boys Closing 33 stores
Sprint/ Nextel closing 133 stores
JC Penney closing a number of stores after January
Ethan Allen closing down 12 stores.
Wilson Leather closing down all stores
Sharper Image closing down all stores
K B Toys closing 356 stores
Lowes to close down some stores
Dillard's to close some stores
Famous Footwear to close down all stores
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