Officials and Experts Warn of Crash-Induced Unrest

(9 am. – promoted by ek hornbeck)

Officials and Experts Warn of Crash-Induced Unrest

This is one of those entries where I’m going to basically just send you over to the link so you can check it out for yourself.  The site itself has become a daily must-visit for me, and should be for others interested in what’s really going on.   I don’t know who this guy is, but he’s really really good.  

His entries are so chock-full of links that cutting and pasting what he’s saying is almost pointless, unless you include all the links (and if anyone knows an easy way to do that, I’d love to learn it!).

Anyway for all the Larry Summers MORONS out there who think that sunny days of economic lushness are right around the corner, well, this is something of a buzz-kill.   (the same guy has an awesome piece that just DESTROYS Summers).

Anyway, here’s a sample:

Today, Moody’s warned that future tax rises and spending cuts could trigger social unrest in a range of countries from the developing to the developed world, that in the coming years, evidence of social unrest and public tension may become just as important signs of whether a country will be able to adapt as traditional economic metrics, that a fiscal crisis remains a possibility for a leading economy, and that 2010 would be a “tumultuous year for sovereign debt issuers”.

Here’s another:

Director of National Intelligence Dennis C. Blair said:

“The global economic crisis … already looms as the most serious one in decades, if not in centuries … Economic crises increase the risk of regime-threatening instability if they are prolonged for a one- or two-year period,” said Blair. “And instability can loosen the fragile hold that many developing countries have on law and order, which can spill out in dangerous ways into the international community.”***

“Statistical modeling shows that economic crises increase the risk of regime-threatening instability if they persist over a one-to-two-year period.”***

“The crisis has been ongoing for over a year, and economists are divided over whether and when we could hit bottom. Some even fear that the recession could further deepen and reach the level of the Great Depression. Of course, all of us recall the dramatic political consequences wrought by the economic turmoil of the 1920s and 1930s in Europe, the instability, and high levels of violent extremism.”

Blair made it clear that – while unrest was currently only happening in Europe – he was worried this could happen within the United States.

And let’s us not forget this rather unreported little gem:

The chairman of the Joint Chiefs of Staff warned the the financial crisis is the highest national security concern for the U.S., and warned that the fallout from the crisis could lead to of “greater instability”.

He signs off leaving a rather large list of people and organizations who share these views, with links provided.

I added this as a comment in Rusty 1776’s terrific essay but thought perhaps it should have its own thread.  

And I have to add the famous JFK quote:

Those who make peaceful revolution impossible will make violent revolution inevitable.

— John F. Kennedy, In a speech at the White House, 1962

What amazes me is how the ruling class seems to think that it won’t happen this time, that somehow the guillotines won’t come out, the ropes and the lamp posts won’t be used, that people will just ignore them …..

It’s not wise to ignore history.


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    • Inky99 on December 18, 2009 at 04:48

    just let me know you read this by leaving a tip por favor.  Thanks.

    • justCal on December 18, 2009 at 06:48

    All crises must end. The “self-equilibrating” nature of the economy will ultimately prevail, although that may take massive one-off government actions. Such a crisis happens only “three or four times” per century, so taking on huge amounts of government debt is fine; implicitly, we will grow out of that debt burden.

    Let me just ask you a couple of questions Larry.


    While your sitting around your ivory tower with your thumb up your ass,pustulating your economic pustules and waiting for the magic of self-equilibriation how many lives are ruined?


    How many young families have their bright futures reduced to smoking wreckage?

    How many retired workers see their pensions ,retirement funds,hopes for just a few comfortable years after a lifetime of struggle all turned into a shriveled husk?


    Oh,but you say that only happens three or four times a century.


    That works out to every 29 years.That’s twice in one working lifetime.Survive the first one and manage to claw your way back to something approaching stability and comfort? Hey,no problem Larry’s got one more shot at you when your to old too recoup your losses.

    Ain’t that right Larry?

    Occasionally I come across a comment by some idealistic young radical praising Che Guevara.Inevitably a pearl clutching liberal will gasp “But Che executed people”.

    Well give me a legal pad,a sharpie and about twenty minutes and I’ll come up with a list that would keep three Ches working overtime.Think your names on it Larry?

    But I wouldn’t really advocate violence Larry any more than you would sacrifice millions of peoples lives to your precious economic model.I mean after all it’s all just theoretical,right?


    Sorry Inky I think I made a mess on your carpet.

    Nice catch on the Washington Blog.      

  1. Joint Chiefs making that statement.  The “highest national security concern”.  That would mean even greater than al Qaeda or the Taliban now wouldn’t it?  There can only be one greatest.  Look what our military leaders are willing to do to the number two and three security concerns.  What would they be willing to do about number one?  

  2. where “All hell is breaking loose” and unrest earlier this year in other European countries have most certainly been noted by government leaders worldwide.  These events and others examples of the public’s anger has penetrated even the consciousness of the masterminds of the con games that led to the collapse are taking personal measures to protect themselves against the anger.  

    I’m sure the DHS has contingency plans for quelling unrest, I’m just not sure they’ve allowed for the fact that most of the national guard (& even the hired mercenaries they’ve bought) are in Afghanistan, Pakistan, (& still in Iraq).  

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