Editorial Page 1E

The game is over.

Writing an editorial on this country and world's economic outlook became so depressing that this writer could not do it. We are just going to throw out some predictions.

After all, this is a views paper and so even though there will be no rewards if we are right and only disdain if we are wrong, we step out on the limb that isn't there to trumpet a warning to those who will listen very carefully.

$7.00 Gallon for gas is not far away. Then, after that, you will be "lucky" (there is no such thing as "luck") to get gas. You think gas at $7/gal is high? Wait till the other shoe drops. The other shoe may have the name "Iran" on it. If those nuclear facilities are targeted, we could be "punished" with reduction in supply.

Soon we will be told that supply is limited and demand is going up. That's right. They can only pump about about 100 million barrels per day from every pump combined for at least the next 20 years based on today's knowledge. We predict that we will receive news that some of the "supply's" are starting to "dry up". That news should come within the next few years.

We are looking at MAJOR defaults on payments - AND WE ARE NOT JUST TALKING HOUSES.   Countries have borrowed money they can't repay!!!

Obama will most likely be elected President of the U.S.A. He will appeal to those who bought what they couldn't afford and all citizens will have to pay for their mistakes.

No matter which candidate is elected, this country will become a socialist nation in the next four years. The newly elected President will offer what this country cannot afford and people will follow because they want the government to take care of them. Nationalization isn't really socialism but it is close enough.

Airlines will become nationalized soon. There is no way out for them, or so it will seem. The U.S. Automotive industry is sinking. Too late they have realized that gas hogs aren't going to be the future rage.

And what about the retail industry? Ouch. There are already some ominous failures.

Countries are going to start talking defaults. Major chaos will result. Of course it will be controlled at first. First there will be a default that causes panic. Then it will be controlled. But after that, a major default will happen and that will be the beginning of the big panic. As if money will solve the problem, people will try to pull out some cash but it will be too late. The U.S. will have to call a "holiday" to stop the losses.

As we have said, the house of cards that is our world economy has already started to fall. There is no saving it by normal means.

It is time for people to become very strong in their faith. Only a very strong faith in the only one and true GOD will prevail. Faith, no matter how strong, in a false god will certainly fail you.

There are some people who believe that any faith or religion leads to God. They are wrong and will pay a terrible price for it.

But the purpose of Coastal Viewpoint at this time is not to preach at you. We are concerned with sounding the warning of things to come.

It is also time for people of like faith to come together and form strong groups that will be needed to survive the time of chaos.

America is already in a recession headed towards a depression that will cause the Great Depression to be renamed. The flood of defaults, business failures, and consequent job losses have only just begun.

At the same time, we are going to see inflation like we have never seen inflation. Food prices are going way up. Many items will become unavailable.

The mortgage situation that everyone is surely aware of by now resulted in some financial hanky-panky with Fannie Mae and Freddie Mac which effectively changed this nations mortgage industry to what would have been unthinkable just one year ago. Our leaders effectively nationalized the mortgage industry.

The proud U.S. of A. is headed down the path of nationalization faster than you can put a child through college. Redistribution of wealth will happen faster than the rich can move to the Grand Caymans.

But this isn't going to be just an American problem. This time, it is global in a big way. The world's financial house of cards is falling. The big guys were playing with monopoly money and got carried away. The system was doomed to failure but with massive leverage, it just happened faster. It won't have to "spread" around the world. The other nations are already in the same deep trouble that we are experiencing.

It will get worse!!!

It is a problem of Biblical proportions.

To be continued....

    The Hollow Men

    We are the hollow men
    We are the stuffed men
    Leaning together
    Headpiece filled with straw. Alas!
    Our dried voices, when
    We whisper together
    Are quiet and meaningless
    As wind in dry grass
    Or rats' feet over broken glass
    In our dry cellar

    Shape without form, shade without colour,
    Paralysed force, gesture without motion;

    Those who have crossed
    With direct eyes, to death's other Kingdom
    Remember us - if at all - not as lost
    Violent souls, but only
    As the hollow men
    The stuffed men.

    T.S. Eliot (1925)