Well,
it is nearly the end of 2012.
Here
is a compilaton of stories related to economic collapse from Rice
Farmer, with his end-of-year comments.
Well,
that ends it for this year. It is abundantly clear that expensive
energy and accumulated debt — the two horsemen of the apocalypse —
are dragging the industrial world inexorably into a quagmire of
decline in all respects. Keep making your preparations, and do not be
distracted by the frothing-at-the-mouth rantings of government
officials, politicians, Mayan calendar/alien invasion doomsayers, or
investment gurus who insist that you put your nest egg in the stock
market. And by all means, avoid falling into a bunker mentality.
Active engagement with the world around us, building mutually
supportive communities, and living on the Earth (not under it) will
pave the road to the future.
--
RF
Meltdown
of the global ponzi scheme
"Spain's
local and national government agencies are $18.1 billion behind on
paying their bills, a government report said."
"The
Spanish government has decided to do away with
medium-distance train lines and replace them with buses to
save money, officials said."
"Imagine
going to work every day and not getting paid. Then, one day,
you're told there's no work to do — so you must pay the
company for the privilege of not working."
"Business
Spectator reported that the global steel sector is expected to
recover only slightly next year as weak demand and
low prices continue to squeeze company earnings, according
to an industry survey conducted by the Financial Times."
"Egypt’s
central bank will start foreign-exchange auctions tomorrow in
order to preserve foreign reserves after they plunged to
“minimum and critical” levels."
"Corporate bond sales
worldwide are approaching an unprecedented $4 trillion this year
as yields touch all-time lows and investors pump record
amounts of cash into fixed-income securities."
"The
European Commission has approved the latest, €90bn
restructuring plan for Dexia, a Franco-Belgian bank bailed
out at the height of the financial crisis which has
struggled ever since."
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