|Mike Stasse is looking for a global collapse. He re-blogs Tom Lewis, who says:
What’s wrong with the global consumer? In the immortal words of Howard Davidowitz, a leading expert on retail, consumers “don’t have any f’ing money.” It is slowly — way too late — dawning on the Masters of the Universe that unless ordinary people have money to spend — and by that we mean real money, not more credit cards or a third mortgage — the Masters are toast.
There is the ultimate explanation for why the global economy peaked in 2008: the consumer, 70% of the economy, got hit with the inevitable. We're now suffering through a central banker-induced coma of forced liquidity which isn't repairing anything, just keeping the patient, the global economy, on life support.
Lewis states what's ahead:
Now, even if you believe, as I do, that the notion of infinite growth on a finite planet is ridiculous, and the notion that all growth is always good is suicidal, you still live, as I do, in a system that will crash if its faith on growth is broken. So pay attention to these idiots. They’re driving.The consumer knows that the system is broken. It may take a while to convince the Masters of the reality of that statement. When will they finally admit the system is so broken it can never be fixed? That's the bottom line truth: the economy is dead and artificial money creation only borrows time from the future. The system is in a state of collapse under the surface. It's only a matter of time before it becomes clear to the Masters that their time is up.