# Its Too Late to Prevent the Collapse of the G7 - Greece is Irrelevant



## ringledman (19 Feb 2010)

http://www.zerohedge.com/article/al...ate-prevent-collapse-g-7-greece-irrelevant-we

Albert Edwards and Dylan Grice tell it like it is. Excellent economists.

The West is insolvent.

Time to stock up on gold and Asian stocks...


----------



## UptheDeise (1 Mar 2010)

The majority of the economies of the West are nothing more then ponzi schemes. Give it another few years and the show will be over.


----------



## ringledman (1 Mar 2010)

UptheDeise said:


> The majority of the economies of the West are nothing more then ponzi schemes. Give it another few years and the show will be over.


 
Yes, built on the fake distribution of money between the financial institutions, creating a zero sum net effect on GDP.

During the boom, the GDP figures showed growth but behind the figures there was no real wealth creating industry. 

Now the central bankers are printing like hell and buying back their own bonds to keep yields artificially low. 

In the UK the BoE is buying 80%+ of new bond issues to keep yields low and make it look like bond auctions are a success. 

Pure Ponzi scheme of the highest order. Built on an economy of sand. Pure mirage. 

Once the total collapse of the West occurs then we can start re-building with 'real' wealth creating industries that sell products and goods to the world. 

Also an environment that encourages savings, as savings are the only thing that allows for future investment and consumption.

People who think the recession is over are kiding themselves. Prepare for the biggest government collapses of our times. we are delaying the inevitable and making the final collapse so much worse with this fake government led bailouts, money printing and artificial bond market prop ups-


_*"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved."*_
- Ludwig von Mises


----------

