-- Posted Friday, 18 November 2011 | | Disqus

[How much longer can Europe and the U.S. postpone the global financial system’s collapse? We doubt that the deceptions and illusions that have sustained it so far will see us to the New Year. In the essay below, Rick’s Picks contributor Erich Simon sees an epiphany coming that could reshape the face of modernity.  RA]

There is a beginning and end to everything, and I find it interesting that Italy and Greece, two of the oldest, are “winding down” as expressed by their financial dredge. Meanwhile, the countries to the north, whose social thrust is mediated by harsher environments, continue to service existing loans into managed growth and a semblance of balance. The debt game is all about growth into a finite environment. We are witnessing countries at the margin of both demographic and cultural surge beginning to falter. Perhaps this is indictment that nothing can last forever because the universe doesn’t allow for that;  like immortality, it would never allow for “turnover” or “progress.”  How many Michelangelos before it’s time to move on?

No one has a better sense today that the human race has collectively extorted its environment than the countries facing debt-based Armageddon. Quality of life is diminishing right in front of our eyes. The EU is fracturing like the Hatfields and McCoys. While humans are quintessential adapters to change, which is the only thing certain about the universe, the change is ramping into the span of one generation, so that we are all, young and old, witness to a larger social awareness. A deep seated sense of loss comes from our recognition that the world of yesterday was preferable to that of today. That toying around in your living room behind a game console is a mockery of the physical adventures enjoyed by our recent past. That the journey is over, the walls are closing in on both rich and poor, and we either take the next step — perhaps a repudiation of the origins of our animal selves, certainly the reigning in of such to accommodate overcrowded conditions — or go down in the flames of a Shakespearean overlay that has merry-go-rounded us all into the final act.

One of the oldest societies is Japan. The Japanese are caught right now in an astounding lemming-like run over the cliff in regards to the realization that they have indelibly poisoned their environment with the melt-throughs at Fukushima. The Emperor’s family, the Prime Minister, news anchors, are quite possibly sick, some sporting the telltale face of “Hiroshima City Burn.” These stalwart artisans of the human experience delicately balanced in harmony with Nature are punishing themselves in the greatest Death Wish of the modern era – this, in the global village’s top of the technology-producing food chain and once second largest economy.

Fed’s ‘Holiday Plans’

In the United States, our debt overhang is similarly caught up in oblivion and apathy. OWS is rearing its feeble attempt to shake the nation out of its catatonic freeze to moderate our coming transition. The rest of us are in denial and shock even, clearly perceptive on an instinctual, cellular, almost genetically pre-programmed level that this is not going to end well; but worse, that we are all going to go over the falls and there is nothing that any of us can do about it. It’s just too big and unruly now. The credit markets are tip-toeing on egg shells, afraid to awaken a panic that we all know is coming. On the day of the upcoming international bank runs, the banking system is going to go on hiatus. The Fed has been making its holiday plans, right alongside Homeland Security, since at least the free-money tax rebates and Cash-For-Clunkers.  Unlike 9-11, this next holiday will last for weeks certainly, if not months. Dissension will erupt everywhere and push through the floodgates of martial law, the strength of those gates dictating the duration of social suffering; the longer martial law imposes detriment, the longer before a return to balance.

Meaningful change is going to take place, like it or not. On that day, society will work through the numbers, the real numbers, and emerge either in some semblance of new round of mark-to-market and debt re-ratings… so far removed from today’s fantasy that the whole concept of “Debt” might just be rescinded for being such a bad idea, or else the whole social board is going to change as chaos and anarchy remake the face of the modern era, pulling off the mask to show it for what it really is.

Information and commentary contained herein comes from sources believed to be reliable, but this cannot be guaranteed. Past performance should not be construed as an indication of future results, so let the buyer beware. There is a substantial risk of loss in futures and option trading, and even experts can, and sometimes do, lose their proverbial shirts.  Rick's Picks does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. From time to time, its editor may hold positions in issues referred to in this service, and he may alter or augment them at any time. Investments recommended herein should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Rick's Picks reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscribers’ initials will be used unless express written permission has been granted to the contrary. All Contents © 2011, Rick Ackerman. All Rights Reserved.www.rickackerman.com

-- Posted Friday, 18 November 2011 | Digg This Article | Source: GoldSeek.com

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