1. Limbo: Fiscal Cliff, Long Term Budget, Jobs Plan
2. Lust: For money from Donors and everyone’s lust for wanting more, more, more and now!!!
3.Gluttony: Over consume, borrower and not wanting to live within our means
4.Greed: being over-leveraged, capital ratios 20-1 30-1 40-1 50-1 60-1 70-1 and having no capital to back it up when times get tough ( List is too long to write)
5.Anger: So much time wasted fighting each other that we forget we are on the same team. Blinds us from making choices for the people
6.Heresy: Stuck on one economic belief and not working with others because of it.
7. Violence: Will see its ugly face here in the US if we have a debt blow up. The government then will be forced into making extremely difficult decisions.
7. Violence: Will see its ugly face here in the US if we have a debt blow up. The government then will be forced into making extremely difficult decisions.
8. Fraud: List is too long
9.Treachery: What Congress is doing to the American People every day because they aren’t working together. Hence a 10% approval
9.Treachery: What Congress is doing to the American People every day because they aren’t working together. Hence a 10% approval
Logan Mohtashami is a senior loan officer at his family owned mortgage company AMC Lending Group, which has been providing mortgage services for California since 1988. Logan is also a financial columnist for Benzinga.com and contributor for BusinessInsider.com
I’m glad you are sticking to your beliefs.
So am I.
Over the last few months most people have reverted back to normalcy bias and are echoing the MSM recovery meme.
I keep hearing “When thing return to normal….”,
or
“next year I am going to consider selling my home [even though I’m currently 100k underwater]”
My thought instantly becomes…”yeah-right!, how ignorant you are”
The sad news is that I believe that we are in the new “normal”.
What many of these people are referring to as “normal” (2000-2007 economic picture) will not be returning within most of these people’s lifetimes.
It’s about the math and math doesn’t lie. The debt is going to smother us and no one wants to address it in a realistic fashion.
I just wanted to let you know that some people are still QUIETLY listening and hopefully preparing as they see fit.
Keep up the message!
Very interesting, and thought provoking. Thanks for sharing!
I must agree! The nine circles you identified, unfortunately, very much represent the current life trends and beliefs in the U.S. However, I think there may be 10 circles in the Debt Inferno.. Sloughful being number 10. Too many people wanting More, More, More from the Government and Private Industry while contributing less, less less… to society.
Please enter Obama’s secret negotiations around the Trans Pacific Partnership agreement in circle nine – treachery! He along with the current US Trade Representative Froman have kept our Congress in the dark while allowing 600 corporate advisers access to the draft document. One US Representative that did gain access after months of requests, Alan Grayson said that after reviewing the document that he understood why people are calling the TPP, “NAFTA on steroids,” that it is a huge punch in the face to middle class Americans and a dismantling of our democratic process. We must tell our Congress representatives NO on Fast Track (aka Trade Promotion Authority, which takes away their negotiating power) and NO on TPP! Secrecy does not bode well for American citizens.
The great crash of 2008 occurred not just because of swindling and fraud among banksters; in fact, that was only a nasty symptom of something larger: peak oil. I know that many people have come to disbelieve in the idea of peak oil. Peak oil, which essentially arrived in 2006, undermined the basic conditions of credit creation in an advanced industrial society dependent on increasing supplies of fossil fuels. Most people, including practically all economists, fail to understand this. There is a fundamental relationship between ever-increasing energy supplies, economic growth, and credit-based money. When the energy inputs flatten out or decrease, growth stops, wealth is no longer generated, old loans can’t be repaid, and new loans can’t be generated honestly, i.e. with the expectation of repayment. That has been our predicament since 2008 and nothing has changed. We are pretending to compensate by issuing new unpayable debt to pay the interest on our old accumulated debt. I marvel at how this Empire of Theft has kept its wheels turning so long after its engine died. Collapse is comming. And it cant be stopped.