In this deepening “Greater Depression,” many of these sites are starting to prove themselves to be more than just fantasy and fiction. The terrible things they’ve been predicted are, in more than a few cases, starting to appear to us in our day to day world, and that makes us take a harder look at the other predictions and issue they discuss, to see if those things are coming down the road toward us, still just over the horizon.

For that reason, I sometimes feel like I have to avoid publishing what seems absolutely true to me. I no longer believe it’s impossible for American citizens to be rounded up in the middle of the night for opposing the power structure in this country. The unbelievable fiction I see playing out on the news channels these days suggest to me that the men and woman who have hijacked our Government are dropping all pretense about what they are doing. When I see Barney Frank berating the new ($1 per year) CEO of AIG for paying bonuses that the TARP allowed, and demanding the names of the people who did not return them, is it unreasonable to imagine doors kicked in at 2am?

Am I the only one who is disgusted by the holier than thou attitude of a man who was a regulator of this industry demanding justice for things that happened when he was watching? Am I the only one disgusted by this attitude from a man who had a gay prostitution ring being run out of his house by his live-in lover not that many years ago?

“We get the government we deserve,” the old saying goes. At what point will enough people who don’t live in states clueless enough to elect the likes of Barney Frank and Christopher Dodd say no more?

Then, things will get really interesting.

He identified Rush Limbaugh as his enemy.

Big mistake.

It’s assumed that Raum Emmanuel came up with this strategy, and sadly, it shows just how out of touch the people running the White House are.

We are falling headlong into probably the greatest financial catastrophe in the history of our nation. Forget the Great Depression, that event will eclipsed by what we’re entering now. This is bigger. President Barack Hussein Obama didn’t have any more to do with creating this mess than did any other member of the Senate or House. But he did raise his hand and promise himself into the leadership of our Republic. There are questions whether there will be another President after him, presiding over a 50 state Union. There are serious questions being talked about that question exactly how bad things will have to be for him to declare Martial Law and suspend the Constitution of the United States. There are men and women who could be a sufficiently respected President to pull that one off. For reasons that are completely unfair but real nonetheless, he is not one of them.

The White House, in setting Rush up as the head of the resistance, Obama and Emmanuel have annointed an opposition leader with real teeth.

Again, big mistake.

Conservatives are indeed divided. There are the Republicans, who true conservatives are not terribly happy with. The Republican Party is the party that put John McCaine and Sarah Palin on the ticket last November. True conservatives gritted their teeth, held their noses and voted against Obama. The Republican Party is the party that has marginalized Ron Paul, the only vocal member of the party who gets it. The numbers of people in the United States who are infuriated that Dr. Paul’s message is being ignored are big. McCaine was an attempt to get the “moderate” Republicans on board after the difficult Bush years.

The Conservatives, who outnumber Liberals in the U.S. are divided, without a standard bearer. Or, they were, until the White House’s new residents created one for us.

Rush Limbaugh.

I became a fan of Rush in 1988 when his national show began to take off. I’m a conservative voice on the radio myself, a broadcaster since the early 80s. Right now, I keep my writing and my broadcasting on different “channels,” writing under my real name, broadcasting under the name I’ve used in the industry for going on 30 years. I’m an Economist, who has been devoted to the philophies of Milton Friedman since first reading Free to Choose while in college. During the Bush years, I drifted from Rush, not happy with his position as a party “hack” who worked hard to sell Bush’s mistakes to us. I questioned my Conservatism, and as someone who respects and admires Al Gore, regretted my 2000 vote for Bush.

But, seeing the realities of Liberal American Socialism born under the guise of “Change,” I have snapped back to my Conservative roots, quickly rallying with a growing multitude under the Limbaugh standard. The White House has miscalculated, and sent everyone a map and directions to that rally point. If they thought the name “Rush Limbaugh” was one that would repel true conservatives from a central meeting point, they were wrong. Conservatives will find a Rush-led Conservative movement a very compelling place to be, and as the economy worsens, unemployment soars, and more and more of Obama’s promises are broken, the White House will see just what a monster they’ve created, and just how few true Liberals there are, outside the Beltway.

Most people misunderstand Gordon Gekko’s line in the film Wall Street when he said “Greed is good.” The slick, suspendered Gekko made it seem like an evil statement, but Friendman points out that humans don’t reward virtue, they do things for self-interest.

As a young Economics student in the late 70s and early 80s, my interest and belief in the theories of Dr. Friedman were met with scorn by my Keynesian professors.

Well, they were wrong, and their resurgence by the Obama regime will doom millions of us to economic misery, and eventually will sentence millions (if not billions) humans to death by the next World War that is inevitable as our bubble world economy bursts.

Sadly, Donohue hasn’t begun to see misery in the world, yet.

Review coming, but considering the prescience and brilliance of Michael Panzer’s previous work, I believe it’s a must-read for anyone wanting to prepare for the economic and societal shifts bearing down on us right now.

The above mentioned book, Financial Armageddon, called with exceptional clarity, the problems we’re enmeshed in right now, even though our “leaders” and economic “experts” laughed such talk off. Well, they’re not laughing now, but sadly, still in their “leader” and “expert” roles, pretending to know the way out of the woods.

Most of these “architects of our demise” will attempt to marginalize the concepts in this newest Panzer work as well, but will be on the front lines telling us what we need to do to fix the problems when they show up.

Discussing the two forks in the road ahead, deflation or inflation, Kunstler agrees with those who suggest (like myself) that it’s not an either/or proposition:

Some of us see both outcomes in sequence: the deflationary “work out” of bad debt currently underway — of loans that will will never be paid back, of acronymic paper securities revealed as frauds, of “non-performing” contracts entering the swamps of foreclosure, of banks pretending to still exist, of hallucinated “wealth” rushing into the cosmic worm-hole of oblivion — can only go for so long before everyone who can go broke will go broke. Then, just as we find ourselves a nation of empty pockets, the tsunami of shoveled-in “money” designed to “reboot the consumer” (created not from productive activity but just printed recklessly), will start churning through the “economy,” chasing products and commodities that became scarce during the deflationary phase — and the result is hyper-inflation, the eraser of debt, destroyer of fortunes, and suicide pill of feckless governments.

Make no mistake about it. We will see a one-two punch that will level this economy, leaving our new President and his administration holding the bag. Did you notice that the Dow yesterday rose while Gold not only held its ground or rose a little, but in fact broke through $900? Sure, most technical analysts were calling $880 an important level, but $900 is a symbolic number that can’t be ignored.

Prices will continue to fall. The faltering demand that is killing retail and wholesale business is bringing prices down. Energy, durables, even food is some cases. But that’s a short-term situation. The TARP’s failure is a sobering glimpse into just how serious the situation is, because it gives us some sense of just how big the “black hole” we’re pouring this newly printed money into is. Eventually, our government will dump enough in to see the result, and that result will be devastating and unstoppable. Our economy and currency is doomed. The hyperinflation caused by this idiocy in Washington will inflate the dollar out of existence.

Many are drawing comparisons in what’s going on right now to the First Great Depression, and that’s a valid exercise. Our civilization’s timeline unfolds in cycles, to be sure, and in terms of human lifespans, those cycles are long. If we leave sufficient records, a civilization looking back on us in a thousand years will probably see these two depressions as one event, the second a direct result of the first. Since we humans live a lifespan of 70 to 100 years, and the last depression began over 70 years (a “lifetime”) ago, we see them as distinct events. We and our future observers are in truth, both right and wrong about it.

The “fog” that keeps us from seeing exactly what’s going on, and what we should individually do about it, is made thicker by the fact that our future isn’t unfolding exactly as our past did. But there are patterns that are important to look for.

As Ambrose Evans-Pritchard writes in the UK’s Telegraph, there’s a case to be made that we’re following a path similar to the 1930s, but the worst, by far, is yet to come.

Obama supporters see the President they elected as a new FDR. Sadly, students of economic and political history agree. So far, the new President is following Roosevelt’s path, a course that those who only concern themselves with slogans and icons believe is the path to salvation. Those who read, study and understand know that FDR’s path led to a longer than necessary depression, ended only by World War and over 400,000 American dead.

Given the weapons of today, a repeat of that sad history will yield far more flag-draped coffins, and will certainly this time,  include a horrifying number of American civilian dead.

Preparation Steps

Many things are cheap right now, but that’s a very short-term situation. Use your dollars’ spending power today to stock up on the things you will need when there are disruptions that make buying them impossible. But don’t just go to Sam’s Club or Costco. Make a list. Start here.

If you’re serious (and you should be), send George Ure of Urban Survival $40 and read (and print) his September 28, 2008 issue of Peoplenomics entitled “A Lifetime of Camping.” It’s the best place to start.

Traditionally, we respect the Constitution, but when frustrated, overcompensate in our disappointment and elect liberals. We were so satisfied and successful with Ronald Reagan, we let our guard down and let his VP, George H. W. Bush move up a notch. Bad decision. Our disappointment in the elder Bush resulted in Bill Clinton’s election. The Junior Bush’s two-time failure has resulted in the most wicked political swing ever.

As politicians go, Obama is probably as honest as any of them. Certainly, he’s a better man than the likes of Christopher Dodd or Barney Frank, or the horrifying Tom Daschle. I think he’ll find that if he plays honestly, he’ll find much more stalwart friends in Republicans like Richard Lugar than the morally and politically corrupt hacks like those mentioned above. Keep them close, Mr. President, because ultimately, they are your (and the American people’s) enemy.

I had hoped that Obama would shock us all and call Ron Paul to the White House and ask for help with the economy. But no, his political machine is intoxicated with painting him as a modern day FDR, not because Roosevelt saved us from economic ruin, but because many people today think he did. The truth of the matter is, FDR’s programs deepened and extended the Great Depression, and then goaded the Japanese into attacking us and drawing us into World War II. FDR killed many times the number of people George W. Bush did. WWII ended the Great Depression, at the cost of over 400,000 American lives.

As Obama follows the path of FDR, massive government spending for infrastructure, then war, what will the total be? Last time, the biggest weapon that could be used against us was a 1,000 pound dumb bomb dropped from an airplane. This time? Nuclear or  biological agents capable of killing hundreds of thousands could be deployed by single combatants.

What this means.

The route we’re taking shows no sign of changing. Over a Trillion dollars have been pumped into the black hole of this economic meltdown, to no effect. Every single dollar printed and injected into the system will eventually show up in the form of inflation. The $825 Billion stimulus package the new President is pushing will pump another huge glob of currency into that black hole. Notice, that I said “currency” instead of “money.” The paper our Government is printing isn’t money, it’s claim against that wealth, making each note or credit in a bank account, worth less.

WCN.net isn’t investment advice, and you shouldn’t use it as such, but I’m happy to share my plans and strategies with my readers. I’m continuing to invest in metals (Gold, Silver), and stock up on food and water.

Things are not getting better. They will continue to get worse. Protect yourself and your family.

President-elect Obama says they are “absolutely right” to do this. Interesting choice of words for a President-to-be, who is the chief enforcer of laws in the U.S. They are absolutely right to do this? Does he realize just how many more of these situations he’s going to face in his single term, especially since he is throwing his support to the movement?

Here’s the story.

The most interesting and telling part though, is this:

One of the factory’s workers, Silvia Mazon, said in Spanish that she needs the money owed to her for an $1,800 monthly house payment. The 40-year-old from Cicero said she has enough money saved to survive for one month.

“We’re making history,” she said.

An apparently Spanish-only speaker, working in a factory in Chicago with only a single month’s savings and her house payment is $1,800?

This, is why the work of James Kunstler, George Ure, Michael Panzer and others, is so important. This situation is going to get worse. Much worse, and there will be a huge number of people like the unfortunate Ms. Mazon, who were participating in an economic model they thought was never-ending. One where real estate always rose in value, there were always blue collar jobs available, and new cars and plasma tvs grew on trees. Unfortunately, these assumptions were wrong, and those who didn’t understand that will be hungry, moneyless and angry.

Have you thought about what you will do then?

Christopher Dodd is the worst kind of leader we could possibly have. What kind of chump takes a “sweetheart deal” from Countryside when he oversees that industry’s regulation (or lack thereof)? I know, I know, that’s the whole POINT of getting elected to Congress, to feed at the trough of graft. I get that. But, jeesh, Chris. Be a little more shamed, would you?

Now, he’s calling for the resignation of the head of GM as a condition of bailout.

Okay. Dodd and Obama say things like Obama did on TV today:

“The big three U.S. automakers have made repeated strategic mistakes,” Obama said. “They have not managed that industry the way they should have.” Any financial aid must be “conditioned on them making significant adjustments.”

Is he kidding? What business has he or Dodd ever run that he can make statements like that? Where did these geniuses, almost all of them in Congress there because they couldn’t make the kind of living they can get stealing from the taxpayers, relying on their business acumen or hard work in the private sector, get their business savvy?

What business do they have telling anybody anything? Wasn’t Dodd part of the oversight of the financial industry (hence, the kickbacks and sweetheart mortgages he got) that is melting down? Wasn’t he talking about how healthy it was when there were those ringing alarms about Fannie and Freddie, only to be beaten down and called idiots for their opinions that we were heading for disaster?

Christopher Dodd is a failed regulator, and should be given no oversight of anything more important than a mop, but I’m sure he’d screw that up as well.

Amazing.

The Cutting Edge lays out the promises made, none of which have been kept. Treasury Secretary Henry Paulson, who should be held accountable for the fiasco he has needlessly piled onto the fiasco that this government’s economic policy has helped create, is apparently, as the site says “winging it.”

By any reasonable assessment, the Troubled Asset Relief Program has been a miserable failure and a complete waste of taxpayer money. The basis used to ram the bill through Congress was the purchase of the toxic assets off of bank’s books. Not one dollar has been used for this purpose. The main purpose for passing the $700 billion bailout was to restore confidence in the markets.

On October 3 when the TARP was signed into law, the S&P 500 was at 1,114. Today, it is 887. The 20 percent decline in the markets in six weeks doesn’t show much confidence in Paulson’s acts. Paulson changing course every few days has shown the world that he is “winging it.” He has floundered from buying toxic assets to jamming capital down the throats of banks to his current plan to support consumer debt. Did Paulson lie to Congress about buying toxic assets?

Paulson has handed out a grand total of $310 billion of the initial $350 billion tranche. He would have to go back to Congress for the 2nd $350 billion tranche. Congress was supposed to create a five-member congressional oversight panel, but hasn’t. The White House was supposed to nominate, and the Senate was supposed to confirm a special inspector general to audit and investigate where the funds are going. After six weeks, President Bush hasn’t proffered a nomination.

Poorly run automakers (GM, Ford, Chrysler), poorly run cities (Atlanta, Philadelphia, Detroit, and Phoenix), and poorly run states (California) are begging for a piece of the pie. The banks that received the first $179 billion have not made any loans with the special money. Indeed, some are using the money to buy other banks. It appears their goal is to become “too big to fail.” Others, like Citigroup, are using the money to buy back bad assets from off the balance sheet SIVs they created. SIVs are the “structured investment vehicle” instruments that Citibank invented in 1988 to become part of its so-called “shadow banking” system. The solvency of the SIV world is now in question.

Hence, TARP has failed.

But then again, maybe not. The TARP has obviously failed to do what we were told it would do, but were we told the truth about its purpose?

I don’t think so.

I believe the TARP may have been intended to provide a huge pile of cash to do two things:

1. Rescue the Wall Street gamblers who created this mess and who are in bed with the regulators. Remember, Paulson worked on Wall Street, so his buddies are his “skin in the game.” Also, remember the corruption that runs rampant through Washington, DC, like Christopher Dodd’s sweetheart loans from Countryside – he’s the head regulator of that industry in Congress now.

2. Keep the stock market bouncing around, and up occasionally, while the Bush Administration is still in the White House. Many think a group funded by Paulson’s TARP money is the entity creating these end of day rallies that in the last half hour of trading, prop up the DOW. Once the money (and the Bush Administration) is gone, these “economic commandos” will disburse, and a massive crash could occur.

At least that’s the theory.

What would this mean? Disaster.

Keep these things in mind:

Every fiat currency in the history of the world has failed, as the dollar is set to do.

A “reversion to the mean” will not protect the United States’ wealth and the standard of living anywhere near what we have now. This whole thing means that the 20th Century was “The American Century.”

The 21st won’t be.

Editor’s note: Ron Paul was America’s best hope in the 2008 election, but the mainstream media decided to marginalize Dr. Paul, a long-time Congressman from Texas, because though he’s a Republican, Dr. Paul doesn’t seem interested in putting the needs of current one-party system rule (despite the farce the “Republicans” and “Democrats” want you to believe in) above the needs of the American People.

Link to Dr. Paul’s interview with Russia Today.