Suck You Off, White Boy? 3

Received from a reader yesterday in response to what FuelMix wrote in Part 2:

Yup, yes, sireeeee my dear FuelMix. This is going to get quite interesting as this deal with Hong Kong unfolds. 

You are also spot-on about the next target, Singapore.

The fact is that my illustrious federal and states governments (Hawaii and Connecticut) are having a hard time feeding their tax money addictions. If we had colonies on the Moon or Mars you could be quite certain that the Internal Revenue Service would find a way to squeeze taxpayer-confiscated fun-money for politicians to spend, spend and spend some more. 

Here in Hawaii, many of my friends are making plans to get out - literally. We are being overrun with meth-heads, welfare cheats and trailer-park ninnies who think they are owed. One of my Hawaii-born friends indicated shock and horror at the number of homeless literally urinating in public. Many of us have seen this for years, but it has become noticeable in business settings in the Honolulu business and tourism (Waikiki) districts.

FuelMix says:

From what we are hearing, the degeneration of several Western cities continues at an alarming pace.  It fortifies our view that this is in fact, a managed and directed phenomenon - with the intention of eviscerating the Western middle class, thereby creating only 2 social classes: the super-rich and the poor.

The social degeneration now in full view, is the result of 25 years worth of financial engineering - or "mercantilism".  This debt-fuelled binge of easy credit and slammed-down interest rates, created asset bubbles whether it was dotcom, real estate, stocks, student loans, car loans, bonds.  The pervasive "wealth effect" and greed was artificial.  Reality hit when over-borrowed individuals realized that low-interest loans not only have to be repaid, but have a nasty habit of jumping exponentially (courtesy of the fine print in the loan agreements, which nobody reads.....) when one starts skipping monthly payments.

Unlike certain banks deemed "too big to fail", individuals have no safety net against their own moral hazard and rapacious greed.

When bubbles burst, they create a liquidity and insolvency scenario - the credit dries up, free cash flow suffers, businesses start laying off, the over-borrowed fool is now conveniently (and probably long term) unemployed, foreclosed and/or homeless, drifts into welfare grifting, meth use, urinating in public, crime.......you get the picture.

Our prediction.......it's gonna get worse in the West - notwithstanding that millionaires / billionaires from China, Russia and Europe and flocking to some Western cities. They live in certain enclaves - well away from the great unwashed public.

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