The collapse continues apace

Today I can't say it better than Travellerev who chronicles the ongoing collapse of the financial system while our media is full of royal pageantry.

Bank runs in China, Stocks plummeting and Hunger in Greek prisons or what’s next

By Travellerev

Aotearoa: a Wider Perpective,

4 June, 2012

While we are being distracted by the royal pageantry and the Olympic games the collapse of our entire financial system moves inexorably towards its demise. Here are some pointers you might be forgiven for having missed as they are not present in our mainstream media. China, the great economic power that was going to be New Zealand's saviour has now entered a new phase. News of massive bank runs is leaking out slowly and the amount of money spend on concrete per capita indicates that the bubble China build around it's construction sector indicates that that too is rapidly becoming unsustainable. Most of the global wealth now resides in the stock market. That's right. It is not generated by people working for a crust but in the stock markets which are now for more than 84% run by computers leaving only a very small portion of it done by people. Stock markets are now collapsing with the SEC changing safety rules (Such as stopping treading when the drop exceeds a certain amount) being adapted to reflect the dangerous times we live in and while this may mean nothing to you in the real world it most certainly means a hell of a lot in Greece, where both prison populations and military are beginning to feel the real world pinch of real world starvations as the government can no longer afford to feed them while the banking vampire squid is preparing to suck € 2 trillion and counting out of Europe's populations.