With collapse looming for major government-backed (surprise, surprise) mortgage lenders Fannie Mae and Freddie Mac (don't they just sound so downright warm and fuzzy?), the primitive beat of jungle drums grows louder as we take one more step toward the end of civilization as we know it. The endgame draws near and the elites' cries of terror grow louder by the day as they know there are no more tricks they can draw from, that the jig is up and a future of animal starvation can no longer be avoided.
The now-certain collapse of these two agencies means that trillions of dollars of presumed wealth will instantly evaporate into nothingness, and the economy will come to near collapse, with the energy price increases sure to push it over the edge into the abyss of total dissolusion.
Don't think the government can or will save them, either. The Treasury is bankrupt, and the Leadership knows it; this is why the power elites have been noncommittal toward a publicly funded bail out (with your tax dollars and "money" borrowed from the Chinese, I may add). After all, it is not their money, just that of the hoi polloi. It doesn't threaten their interests - too much. They already have their well stocked hideouts planned and stowed away when the time of the economic Grim Reaper comes.
In any case, to "bail out" Fannie Mae and Freddie Mac would double the national debt. This would unleash an even more destructive force on the economy than these entities being allowed to fail on their own.
I have been making survival plans as of late. The government will soon be bankrupt here, though nobody is really aware of it as of yet. The tax collectors will likely find at the end of the year when they count the tax receipts that revenues have fallen sharply, with the free fall in consumer spending, housing values, and earned income. With the core of the tax system gutted - sales, income, and property taxes - layoffs in public agencies are bound to ensue. I have not been with my own employer long enough to have earned enough seniority (that's how layoffs are calculated in public service - not by effort but by tenure) for my job to survive this process. And given that my office's function and purpose is 'non-essential', and soon to be a memory anyway, I can't see how the next five years are not going to bring some stupendous changes of an extremely negative sort, for myself and for millions of others. Dreams, hopes, careers, and people will die.
I do not spout characteristic dickhead optimism here; I tell it like it is. Only a dickhead would try to "spin" the situation now. The media, uniformly populated by dickheads to a man, has been spewing more irrelevant trash than ever, both at the local and national level. They are trying to deny the harsh reality that is now descending upon us like a dark cloak of death, and assist the sheeple in their willing delusion that everything will be okay, that the millions of corpses that are soon to drop will not drop, that everything will just vanish like a bad dream.
But the only thing that is to vanish will be wealth, a comfortable life, and civilization itself. I feel no sympathy for the dickhead playerz who will no longer be able to spend their nights boozing and copulating to their hearts' content. They will receive what is coming to them - violent retribution for a world they have inflicted upon us, now revolving back to swallow themselves into the maelstrom. (Poetic justice it is.) I also have no sympathy for the lower class trash, those obese, mindless zombies whose lives revolve around TV and junk food: folks on "disability", rednecks, white trash, welfare queens, hustlers, thugs, and all of society's parasites who will perish like a swarm of termites after breeding season. Their fate is grim, but just. Live by the State, die by the State.
However, the next generation of the productive will be cruelly stunted. Their ability to create, to innovate, and to generate will have to be sublimated to the bare demands of survival, due to the circumstances of our age. I feel for them, for the worst thing in the world for an intelligent, productive person is to be forced to reduce oneself to the level of the mindless.