2018: Yearly Forecasts for Systemic Breakdown
By Jim Willie CB
Posted February 9, 2018
The magnificent event that occurred ten years ago has been called the Global Financial Crisis, centered and triggered by the Lehman Brothers failure as a firm. It was actually a suffocation event with killjob, whereby both Goldman Sachs and JPMorgan bought several $billion in Lehman mortgage bonds and never paid for them, thereby killing Lehman from a very severe sudden liquidity drain. What happened in 2007 (initial bust symptoms) and 2008 (final crisis unfolding) was horrible and quite devastating. What comes in 2018 in the systemic breakdown and global crisis will be triple in magnitude of damage and triple in breadth with range of extended wreckage. This year will see sovereign bonds enter failure, in an unprecedented manner.
Since the Lehman failure, all insolvent structures have become more insolvent, fortified with more leverage, flushed with more funny money, and been kept in place as the power center for the USGovt istelf. The Wall Street banks stole the $700 billion in TARP Funds as a launching pad for sacking Washington DC in a grand fascist display.
The broken silos of financial corruption have grabbed political powers, and written US legislation. In the last ten years, nothing has been fixed, or event attempted toward remedy. Nothing has been liquidated due to deep insolvency and rot. No amplified credit or monetary spigots have been turned off or even turned down. No power control rooms have been put to pasture and removed from the corrupt helm despite their failures. No economic development in the West has even been attempted. All the broken elements have been ramped up with bloated largesse. Wreck, wash, rinse, repeat, but with greater volume and emphasis, while the propaganda blasts on. What was seen in 2008 with Lehman failure will next be seen on a systemic level, since instead of remedy, the entire system has been subjected to same abuses that led to the mortgage finance and housing bust. More…