The Living Will Envy the Dead
The last two Bush-family engineered economic implosions were mere hemorrhoids on the ass progress compared to the full-bore apocalyptic catatrophe that is bringing civilization to a grim, smoldering end. The chart above tells the part of the tale you’ll feel first: the complete and sudden absence of income. Unemployment rates will cap 75% in a year as companies take advantage of the unfolding horror, lay off most everyone and triple surviving employees’ workloads, safe in the knowledge they’ll be no complaints.
At the end of the 1980s, nearly a decade of Wall Street lunacy, random financial services deregulation (with the worst yet to come during L’il Abner and Daisy Mae’s Administration) and complete abandonment of underwriting quality in the mortgage industry culminated in the collapse of many key real estate markets and a broad economic recession.
Of course, George H.W. Bush was there to preside over the wreckage and recommend that people go out and buy something while he, career covert operative that he is, made sure all the Iran-Contra evidence of the previous administration was swept away before L’il Abner and Daisy Mae got the keys to the White House.
L’il Abner and Daisy Mae kept more of the country’s accounts in order but they also encouraged the Fed to keep printing cheap money and looked the other way as the financial services industries kept making up diabolical mechanisms for putting people into debt and opaquing the world-crushing risks they claimed they were actually mitigating. Underwriting quality? Ah, sorry, hey, girl, you gonna bring me another slice of pizza?
The Caligutard Administration, if there is anyone left to appreciate its history, will be regarded as the last pillaging hoard that raped and looted the country before it collapsed and brought the rest of civilization with it – and Dick Cheney will go down as Hun #1, the former Secretary of Defense who virtually single handedly engineered the privatization of military support services, joined the first and foremost company in that industry and then engineered two wars to cash in on its position.
Not that the states’ economy needed much abuse to kick it over. With manufacturing and even many white collar service jobs fleeing to slave states like China and third-world dystopias like India, the foundation had become rather hollow and apparently you can’t build an economy by promoting the sale and resale of overpriced housing.
Our survival strategy for the next 2 to 6 generations: If you lose your job, don’t bother thinking you’ll ever see another one. Start a business immediately and plant potatoes. Learn to love face carpaccio or be face carpaccio.