Categories





The Phaserl








TheLibertyMill


You’d Think We’d Be A Little More Worried…

by John Rubino, Dollar Collapse:

By now everyone with an Internet connection is aware of the “ransomware” attack that shut down hundreds of thousands of computers over the weekend.

The fact that the onslaught is just beginning — as the military-grade hacking tools developed by the NSA and recently leaked are weaponized by hackers and released into the wild — should, you’d think, be worrisome.

Most people are probably also aware that North Korea, which claims to have nuclear weapons, just tested a missile capable of carrying a payload to the capital cities of its neighbors. See Putin says world shouldn’t threaten North Korea, after latest missile landed near Russia.

And yet here we are on Monday morning with global stock markets hitting new highs, as if the world is a stable, well-managed, nearly risk-free place. It’s easy to understand cybersecurity and defense stocks doing well today. But banks and home builders? Seems like their world is anything but benign.

So what’s happening? The same thing that’s been happening for many years. The world’s governments are reacting to uncertainty with massive infusions of newly-created currency. Below, for instance, is the European Central Bank’s balance sheet – a proxy for how many new euros it has created and dumped into the economy. Note that the line went parabolic in 2014 and shows no sign of flattening. Fully one trillion new euros hit the market in 2016 and have to go somewhere. For the 1%, it’s apparently easy to relax and buy Apple and Google when that much cash keeps flowing in.

And Europe is frugal compared to China, where total credit growth (public and private combined) is on track to approach $3.5 trillion this year. That would be a record year for even the US. For a developing country like China it’s ridiculous.

Speaking of the US, here’s Credit Bubble Bulletin’s Doug Noland on what we’re up to:

I expect U.S. system Credit growth to surpass $2.2 TN this year, roughly broken down by the government sector ($850bn), Business ($750bn), Household Mortgage ($350bn) and Consumer Credit ($250bn). Another big federal deficit is expected, with the perception of a blank checkbook ensuring that deficits inflate until the markets decide otherwise. Rising home prices coupled with low mortgage rates ensure a 2017 expansion of mortgage borrowings. Loose financial conditions and record debt issuance would seem to ensure another big year of Business debt growth. And while there appears to be some tightening in subprime auto and Credit cards, I would be surprised to see Consumer Credit expand by much less than 2016. As such, the relatively stable outlook for U.S. Credit growth certainly supports the global liquidity and market backdrop.

None of this is surprising. The tens of trillions of dollars borrowed in the recent past were largely misspent, so to prevent a crisis of epic proportions, ever-greater amounts of credit have to be created and disseminated. Inflate or die, as the saying goes.

Read More @ DollarCollapse.com

Help us spread the ANTIDOTE to corporate propaganda.

Please follow SGT Report on Twitter & help share the message.

2 comments to You’d Think We’d Be A Little More Worried…

  • Craig Escaped Detroit

    It appears that the North Koreans got smart and no longer are using MicroSoft “Windows” for the missile launches, and have switched to Linux, … and BINGO!!!

    Success!!!
    Of course, the alarming thing, is NOT the (horizontal range) of the missile track, but the ALTITUDE that it reached above the surface of the earth… more than 1,500 miles HIGH.

    That’s TEN TIMES higher than the orbit of the space shuttle or all the other orbital flights.
    (it’s no where near the geo-stationary orbit of 22,000 miles).

    Being able to send something into orbit, means it can circle the earth and come down at any point along the orbit. I not too surprised that the news media failed to point that out.

    I’m also not too surprised to see that the news media did not point out that the Ransomware attack was not pointed at Linux systems. (I grew to hate “Windows” over the years of complicated updates, BSOD, the new versions every few years etc.)

    So I eventually downloaded and burned to disc, some “Live versions” of Linux, found a few I liked, and then installed it on my system. Never looked back.

    It’s been about 5 years now (or more?) and I think I’ve experienced, perhaps one crash every 2-4 years. It’s very rare for me to have any problems with it.
    I started my research, and reviews, downloads, etc, at http://www.distrowatch.com
    A “live” version, means that it loads from an external source (DVD / CD), but does NOT change anything on your harddrive. It’s 100% in “RAM memory”, when you remove that disk and reboot, then your normal old WIndows loads up. Nothing lost.

    You can also actually install Linux in your Windows drive and it creates a “Dual Boot system”, when you “power up” your computer, a quick little menu pops up and asks if you want to select WINDOWS or Linux? Most people choose this option (dual boot).

    Don’t worry… Be Happy.

  • Sayldog

    Ransomware attacks are nothing new. Several years ago a local granite fabrication shop had their data encrypted and were forced to make a ransom payment, not in Bitcoin which I don’t think was even around back then, but with a pre-paid Walmart card!

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>