I love this guy Mac10.
His identity is a mystery. He does not allow comments on his site. He does not seem to be seeking status or trying to monetize collapse for personal gain (like many others). He is direct and witty and mostly accurate. I do wish he understood thermodynamics and other non-financial aspects of overshoot a little better but he is razor sharp on the economy.
“After 7 years of corporate Shock Doctrine, we need not assume that this collapse will be a repeat of 2008. Because most people will have nothing left to lose, and will be playing their last hand. Sans bailout, this shit show will Black Swan dive into concrete and explode into a million pieces. Don’t worry about Wall Street. There won’t be one…
Most Americans have negative net worth. Their combined liabilities – assets are negative. Largely due to high uncollateralized debts e.g. credit cards or car loans with negative equity or underwater mortgages and of course various “off-balance sheet liabilities” e.g. fixed costs such as utility bills etc.”