this is probably nothing to worry about

we are now seeing what happens when a 20 to 21 percent of GDP financial sector starts to come unglued... never had so much polarization and wealth disparity and just groaning wealth right at the top of ladder as we have now... the central component of the rise of the financial sector is the rise of the debt industry... it's a package which Americans have to understand is going to be awful... seven sharks in the tank with the economy... first is financialization because we're so dependent on this industry that's sort of half lost its marbles... second is that you have this huge buildup of debt, absolutely unprecedented anywhere in the world... third is you've now got home prices collapsing... fourth is you've got global commodity inflation building up... fifth is you've got flawed and deceptive government economics statistics... sixth is that you've got what they call peak oil where the world is, to some extent, running out of oil... last thing is the collapsing dollar... whenever you get this sort of package in one decade, you got a big one... another variation but on a par with the Thirties... The British were absolutely top dog in the world in 1914. Two world wars and 35 years later, they were having, after World War II, they were having food rationing, the pound sterling crashed, dukes were giving guided tours of their castles because they couldn't afford to maintain them otherwise. Doesn't take long. And I'm afraid the United States is coming right into that period which marks a couple of decades coming up that are going to be very difficult for America.