Credit-Boom Bust?

A recent article called, The Liquidity Crisis by Mike Whitney of Atlantic Free Press tells the story from the top down.

"The boys in Washington and Wall Street don't work for you and me. They're destroying the currency and selling everything that isn't bolted to the floor. Then, they'll pack-off to Asia and Europe where they can begin the scavenging-cycle all over again.

How bad will it get in the USA?

Consider these comments from Princeton University economist Alan Blinder, who recently attended the business summit at Davos, Switzerland: (summarized by Rep. Ron Paul)

'Word has it that there may be plans yet again to "outsource" highly skilled American jobs to other countries. Approximately 40-million American jobs could be at stake and yet US workers have not been told or consulted about it, until now. Just to put the number of 40 million into perspective, that is more than twice the amount of people that are employed in manufacturing. (According to Alan Blinder) The ‘choice' jobs of skilled Americans could be lost and given to foreign countries within the next decade or two.'

The name of the game now is to keep the stock market flying-high for as long as possible while the transfer of wealth continues unabated. That means the hucksters on Wall Street will have to devise even better scams for expanding debt - increasing margin limits, escalating derivatives trading, loosening accounting standards, inflating the booming hedge fund industry, and - the new darling of Wall Street - increasing the mega-mergers, the biggest swindle of all.

These over-leveraged mergers create boatloads of new credit, but add nothing to GDP. They reflect the basic disconnect between the stock market and the real economy.

Then, he shares the bottom line.

Economic pundit Elaine Supkis puts it like this:

"World wealth isn't growing, world DEBTS are growing and the place they are growing the fastest is the US which is the sole terminus of world trade at this point. The biggest growth industry today is selling debt instruments. The entire existence of hedge funds, for example, is to funnel profits from uneven trade with the US back into the US via dumping debts onto the backs of any corporations that can run up more debts!"

Today's big business? Buying and selling debt! Couldn't find a better example of building castles in the sand and yet this inherently unstable tactic seems to get lost on most everyone.

What we are seeing on Wall Street today with it's highest-ever numbers is artificial asset inflation having little or no connection whatsoever to the actual health of our economy.

The credit-boom house of cards will not withstand the test of time and guess who will pay the price for the big-boy's money game when it topples? That's right, everyone who got sucked in to the "wealth" fantasy. While multiple-millions of Americans continue to "buy-in" to the lie - - as we speak, our nations real wealth continues to be shifted to the global elite via globalization. Check it out for yourself.

Take action now on behalf of yourself and your family. Your best interest is NOT being considered in the globalization formula- not for even one second!

Are you able to heed the warning and do your own research or will you go down with the credit-boom ship?

Need more proof? Watch this free video, Money as Debt http://video.google.com/videoplay?docid=-9050474362583451279&q=money+as+debt

Susan Boskey is author of the book, The Quality Life Plan: 7 Steps to Uncommon Financial Security available at http://www.TheQualityLifePlan.com or http://www.AlternativeFinancialNow.com where you can also sign up for the free e-course to learn more. Her book presents a unique personal finance formula to help everyday people create and sustain a debt-free lifestyle.

Article Source: EzineArticles.com