The economic turmoil approaches a cataclysmic turn of fate and fortune.
State actors work to make whole their elite power backers by picking the pockets of working folks in a thousand communities across the heartland. Meanwhile, the average non-dickhead, fully exposed to the capricious whims of market forces in a socialized economy that is rigged to favor the few, struggles to cope with the evaporation of jobs, income, housing, businesses, and looks to face full bore the disintegration of communities, families, commercial concerns, lives.
The market has fallen by several thousand points during the past week. That goes beyond a mere "correction"; it is a crash.
The history books will mark October 2008 as the moment when the market finally collapsed and spiraled into a major depression.
Governments lie impotent in the face of the crisis which they created. The market actors have become wise to the scheme and have finally come to understand that State action does much more to prolong and deepen the crisis than anything else.
In the face of Federal "commitment", stocks tanked. Trillions of dollars were wiped out in moments and the future life plans of millions were desolated as the stored paper wealth of their collective retirement accounts evaporated into the same thin air from whence it came.
Apple Annie will reappear with a vengeance.
The entire system is collapsing because it is finally becoming clear to those not in the know that the entire apparatus is based on lies and deceit, and backed by a zero non-entity - that is, fiat currency. Trillions of loans remain outstanding with the implicit assumption that they will never and can never be paid back. The loans were made with the full knowledge of this fact.
It was known deep down that the system of credit being constructed in the Greenspan-Bernanke era was predicated on lies - liar loans, easy credit for deadbeats, NINJA loans, etc. etc.
Now those lies are being exposed, and the trillions of "assets" that depended on the non-exposure of these lies are dissolving like salt before the driven rain.
For those who recognize this, the collapse is no surprise, and clearly inevitable. For the dolts in the heartland who played along to get along, the cries of shock ring hollow to the ears of those who refused to suspend their abilities of observation.
The solution is free markets, sound money, and elimination of government. But you won't hear that from the 'best and the brightest' any time soon, I assure you. Too many 29 year olds with Maseratis may have to reconcile themselves to reality in that scenario.