Kevin Hayden – TruthisTreason.net
Source: Michael Snyder, Economic Collapse Blog - Truth Contributor
Any financial system that is based on debt is doomed to fail. Today, we are living in the greatest debt bubble that the world has ever seen, and if all of a sudden people could not use credit to buy things, our economy would immediately grind to a halt. Unfortunately, no debt bubble can last forever.
Unfortunately? I’m rather pleased about the fact that we might…just might… be able to allow this debt bubble to burst and start over. I’m not a fan of over-entending credit. I’m not a fan of the Federal Reserve. And I’m certainly not a fan of the insanity that we call modern banking practices. Let it come crashing down.
When this current debt bubble finally bursts, faith in the financial system is going to disappear, credit is going to freeze up and there is going to be a massive wave of bank failures. Right now, Greece is a warning sign for the world. Nobody wants to lend money to Greece, the Greek banking system is dying, one out of every four businesses has already shut down, unemployment is soaring and the Greek economy has now been in recession for five years in a row....Continue ReadingLeave a Comment