Now We Face the Fall of America and Europe – Wall Street Underground

By Nick Guarino | March 28, 2010

It’s a brand new ball game. A new way of doing things. Not just for the ultra-poor nations. For the developed world, too.

People won’t like it. The services they take for granted are dying in a sea of red ink. Real soon now, these services will be no more.

Prepare yourself for a new world. Pay as you go. Pay for it NOW with cash. Or you don’t get it.

There will be no such thing as a social safety net. Unless you consider work camps as your “welfare rights.”

You really, really need to grasp this. Our entire way of life is based on two things. Both are about to change forever.

First, our entire infrastructure was built generations ago, when labor was dirt cheap, on the backs of starving immigrants. We financed these systems with endless debt, at 1%.

We can’t pay back that debt: we already have borrowed all the available money. We can’t refinance it. We have maxed out our credit card. D-day is coming.

Second, most everything we consumers buy in today’s world is manufactured by SLAVES. I repeat, the things that surround you carry an enormous price subsidy. They were made by slave laborers, who were paid almost nothing for their work.

They are the poor masses who work in the slave sweat shops of China. Of Asia, Latin America and Eastern Europe. They make a dollar an hour. At most.

Without them, we could not afford our clothing. We couldn’t buy clothing, our appliances. Our electronics. The toys for our children.

Not even our cars. Cars may be assembled in the U.S. and Europe. But the parts come from the slave labor colonies of the planet.

Rome’s infrastructure was built on slaves, too. Rome crumbled when it could no longer control those slaves. The northern hemisphere is crumbling for similar reasons.

We can no longer borrow to support our unsustainable lifestyle. And more and more, our slaves -– the billions of Asian workers — are not willing to put up with their extreme poverty. With their greatly lesser lot in life.

They aren’t satisfied working for a bowl of rice with a fish head in it… sleeping 20 people in a 400 square foot rickshaw “apartment”…and riding a bicycle.

A new system is about to force itself on the western world. It goes like this: don’t work, don’t eat. Grow old, get sick, you die.

No longer will people not work, and still get full benefits for years on end. They will not receive government health care, where they spend $300,000 of someone else’s money. All so tubes, high-tech machines and needles carrying exotic drugs get stuck into their veins — maybe keeping them alive another six months — in a money-losing, subsidized, institutionalized setting — where it’s a good day when they change the diapers within four hours after a bowel movement.

We will have to pay the true costs of our homes. Our roads. Our electricity. Our cars, appliances, medical treatment and retirement. Or do without. Not with funny money, financed by heavily-leveraged derivatives, that supposedly don’t come due for 30 or 50 years. We will have to pay with cash.

Workers in the west will get paid about the same as everyone else on the planet, who does the same kind of job. Which means the slaves in Asia and India will see slight wage increases. People in the “developed world” will see their pay and benefits get slashed. Over and over.

It was a nice fantasy. A great party. It lasted 60 years. 60 years of the most incredible, opulent lifestyle the masses have ever enjoyed. All bought to you by mortgaging our future on endless debt.

It’s only been 60 years since mass starvation, homelessness, and joblessness last appeared in the U.S. and Europe. People forget that. In the not-too-distant past, America had to cope with an ugly world. Funny how soon people forget the lessons of history.

I am here to tell you — like it or not, believe it or not -– that life is back. To many of you, that may sound ridiculous. But go to your nearest homeless shelter. Or check out the local free medical clinic or food pantry.

You will meet plenty of people there, who till now never had to take a handout. I think you’ll find they wholeheartedly agree with me. Our prosperity is leaving us to never return.

Try walking the inner city, if you dare. Tell me we are not going back to an uglier, more dangerous world. What do the spreading growing ghettos, gangs and poverty tell you about the future?

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