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The latest update from Mordor is not encouraging . . .
There are still orcs in every agency of the federal government, uruk-hai still infest the Pentagon and the NSA, Congress is still filled to the rafters with Wormtongues and there are still five Nazgul on the Supreme Court.
I don't even want to talk about the Catfood Commission . . .
Nothing has changed in Mordor because Obama put the Ring of Power on his finger before Rick Warren even finished the Inaugural Invocation. We've all seen the consequences. The power of Mordor has not been broken, it hasn't even been seriously challenged.
Moria . . .
There is evil there that does not sleep.
The Dwarves of Capitalism delved too greedily and too deep. We know what they awoke in the darkness of Khazad-dum . . . shadow and flame . . .
The Shadow and Flame of Economic Collapse
There is no precedence for the panic and chaos that will occur. The global food supply/demand picture has NEVER been so out of balance. The food crisis will rearrange economic, financial, and political order of the world, and those who aren't prepared will suffer terrible losses. As the dollar loses most of its value, America's savings will be wiped out.
The US service economy will disintegrate as consumer spending in real terms (ie: gold or other stable currencies) drops like a rock, bringing unemployment to levels exceeding the great depression. Public health services/programs will be cut back, as individuals will have no savings/credit/income to pay for medical care. Value of most investments will be wiped out.
The US debt markets will freeze again, this time permanently. There will be no buyers except at the most drastic of firesale prices, and inflation will wipe away value before credit markets have any chance at recovery. The panic will see the majority of derivatives end up worthless. Since global derivatives markets operate on the assumption of the continued stable value of the dollar and short term US debt, using derivatives to bet against the dollar is NOT a good idea. The panic will see the majority of derivatives end up worthless. The dollar's collapse will rob US consumers of all purchasing power, and any investment depend on US consumption will lose most of its value.
The Shadow and Flame of Catastrophic Climate Change
As the Arctic's sea-ice cover decreases, less and less sunlight will be reflected back into space. And as tundras heat up, more and more of their carbon dioxide and methane content will be released into the atmosphere. Thus each added ton of carbon will trigger greater rises in temperature as the years progress. The result will be massive ice cap melting and sea-level rises of several meters: enough to devastate most of the world's major cities.
The Shadow and Flame of Resource Wars
As famine, disease, and weather-related disasters strike due to abrupt climate change," a Pentagon report notes, "many countries' needs will exceed their carrying capacity"--that is, their ability to provide the minimum requirements for human survival. This "will create a sense of desperation, which is likely to lead to offensive aggression" against countries with a greater stock of vital resources.
Thank you, Dwarves of Capitalism. You've always believed Wall Street is a source of wealth to be mined. But it's not a mine.
It's a tomb.
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