I have to be honest with you guys. I had hoped the economic apocalypse would be under way by now. Sadly, the world's central bankers have achieved a level of success few deemed possible.
Not only can central bankers create a crisis and make it appear as though it was some black swan event, but new generations of people actually believe that shit. I am not even sure people are aware of the fact that the world is bankrupt and the world's banks- insolvent.
Day after day, I read the european headlines. It has to be one of the greatest clusterfucks of all time. Truly. Bankrupt and sovereign countries, with differing cultures and values, each using the same currency and trying to bail each other out. It is a mess. All the while lying about the extent of their individual liabilities and pitching donor countries into some debt abyss from which they cannot escape.
How long can this insanity continue? Who knows? By the year 2014, the United States will have three times more debt to refinance than the world has the capacity to swallow. By then we will be on QE 7, or 8. Debt to GDP will be approaching 130% and Paul Krugman will be calling for QE9 and the politicians will be saying that it is recovery time. The europeans will still be trying to agree on a bailout package and austerity measures. And the bankers will still be laughing.
As for me, I've given up on the masses ever wising up. They are too engrossed in themselves and their medications. Which certainly has it's merits. I have discovered that scheduling an economic apocalypse is tricky business. I am beginning to lose hope. They just don't come around all that often.