Don’t get me wrong. I hate to see blood in the streets. Especially if it’s mine or my subscribers.

But in any great catastrophe, blood must flow. The Riots in Greece are just the start. Better its their blood being shed than ours (momentarily). And we are entering the greatest financial catastrophe ever. Rivers of blood will be flowing all over the globe. This will get to the point of oceans.

Too many people bought Wall Street’s b.s. About the stock market: “A sure-fire long-term investment, that will let you retire a millionaire.”

About real estate: “It can never go down in value. So buy now before we run out.”

About you can borrow your way to prosperity and government will support you.

About the “too big to fail” banks: they must be saved, so they can save the economy by giving us even more credit.

About The Great Depression II, “which we never had, and even if we did, it now is over.”

The masses insist on getting taken in by this bullshit. So don’t blame us for picking off incredible bargains. Bargains that are cropping up all over America, Europe and the developed world.

Current Recos do exactly that. They explode market myths. Myths designed by Wall Street, to take the suckers’ money. (God must love the suckers, because like the poor people, he sure made a lot of them.)

More important, Current Recos is where you learn how we could turn those myths into big fat paydays for ourselves. (And through the years there have been a lot of those too.)

It’s an incredible time. I have never seen anything like it. The whole world is in denial. All we have to do is sit back, wait, and hope we are right in the fact that the world is living in the ultimate fool’s paradise.

Once again the masses are getting cashed in. The “why rent when you can buy” lemmings are learning the truth. They can’t buy a house anymore: no credit or savings, not enough income, and prices still are way too high. And now they are running low on money to rent, too.

One of the world’s biggest cheerleaders for real estate is the Royal Institute of Charter Surveyors (RICS). The RICS just surveyed 430 of its members in 25 countries. It found 85% of them expect distressed property sales to soar in 1st quarter 2010, compared to 4th quarter 2009.

Don’t forget, distressed property sales set a record last quarter. Even though banks are doing everything possible to stall foreclosures, and cook their books. And now the Royal Surveyors are telling us the all-time record in foreclosures is about to set an even bigger record.

RICS senior economist Oliver Gil Martin said, “it is the major real estate markets of the world, namely the U.S., Ireland, England, Spain and Japan, where agents expect the strongest growth in distress sales in the 1st quarter 2010.”

You must understand who these RICS guys are. The pompous, blue-blazer prep school pricks. They wouldn’t utter the word “shit” if their pants were filled with the stuff, right up to the top of their back pockets.

They were big-time spin doctors for booming real estate sales. Even when the boom was long dead and buried. All last year they blew blue sky up our butts. Prices have bottomed and will go up. The worst is over. Signs of a recovery are everywhere, they said.

Hmmmm. Is there no end to people in high places, who use their positions to feed us full of bullshit? I get sick and tired of it.

Now the RICS says foreclosures will soar. DAHH! Astonishing. They finally figured it out. That means one of the industry’s major trade groups is NOT predicting “recovery.” They are predicting more catastrophe.

I bet that was really hard for them to admit. Which tells me things are about to get a LOT worse. They are trying to get in front of the bad news, so they don’t lose what little credibility they have left.

Remember, the average guy is struggling to pay his mortgage. His property is worth far less than he paid for it. He is hanging on to the desperate hope (hope always springs eternal) that there will be a haha turnaround.

You know there will be no turnaround. I know there will be no turnaround. Now the average Joe is finally starting to figure it out. Too late!

In reality, the wipeout gets worse by the minute. The biggest financial crisis in the history of the planet gets more severe — more deadly — as mankind’s major investment (real estate) falls deeper and deeper into the pit.

And as the NICS just said, the worst for real estate is still ahead of us. All I can say is, what took you guys so long — to own up to the mess you and your members created and denied for years?

Socialist utopian dream now a nightmare:

Now on to one of the great socialist lies.

The masses have been brainwashed. They now believe, heart and soul, the liberal fantasy: “I breathe. Therefore I am entitled to food, shelter, education, health care, work, car(s), sex, drugs and endless rock and roll. All paid for on the backs of someone else.”

It doesn’t matter if they work a bullshit job. If they give bullshit effort. It doesn’t matter if they screw off as much as they can.

They believe life entitles them to every exotic medical procedure. To a fine house. A new car. Endless entertainment. And don’t forget the obligatory summer vacation.

They are entitled to full retirement. Preferably on some tropical island. The grateful natives must serve them drinks with fruit stuck on a little umbrella, as they lounge on the beach. Again all paid for by other people.

These people, with their pina colada beach dreams, are in for the shock of their lives!

Life guarantees you nothing. Reality promises you even less. The world -– especially the developed world -– is about to relearn that lesson.

Our prosperity is not a right. It’s a privilege. One that, if taken for granted and not earned on a daily basis, can be easily lost.

No man is promised a nice life. In fact, not even a good one. Half the planet can attest to that. They have no guarantee of regular meals. Of clean water, a place to live or even freedom or a peaceful existence.

To put it bluntly, the masses of the northern hemisphere have been spoiled rotten. For 60 years we have lived an unsustainable lifestyle. All financed by enormous sums of private, corporate and government debt.

That debt will never get paid back. Never mind the new debt it will take to cover the latest batch of promises, fantasies and social engineering. Or the mega-banks’ losses, that our asshole Wall Street buddies shifted to the public sector, with the bailouts.

The free lunch is over. Now it’s time to pay the piper. The masses are about to get a devastating reality check. Prosperity is leaving the world they know. I call it the Africanization of America and Europe.

What is the difference between Europe, the U.S., and sub-Saharan Africa? Europe and the U.S. have been allowed to amass debt of over a thousand trillion dollars. Derivatives alone account for $900 trillion. Government debt is hundreds of trillions more.

The poor bastards in Africa can’t borrow. So they don’t have the privilege of living an unsustainable lifestyle, financed by other people’s money (usually from the future). They are at bare sustenance level.

The masses in Africa haul water from a dirty water hole, where what few scrawny cattle they have left shit in it. They use a stick and an ox to plow their rock-hard soil. They plant a seed, and hope that between the droughts, their neighbors and the endless revolutions, something will grow. Then they and their children might be able to eat.

It’s not a pretty picture. And it behooves us to pay attention to it. Because much of that lies in our future as well — if we are not damn careful and get it right.

Not so very long ago (100 years) most people in America lived on a farm. 54.4% of all Americans to be exact. Farmers or not, most everyone planted gardens. They canned their food for winter.

Electricity is a hundred year experiment. Before that, you might have had gas lights, if you lived on a city -– and were lucky. Most people used candles and lanterns for light. They went to sleep when it turned dark, and woke up when the sun rose.

They heated and cooked with wood. Hot water was boiled and poured into the bath tub. Giving the old meaning of “hot tub.”

They hauled water from the well, in buckets and pitchers. The kitchen sink had a hand pump. A toilet was a hole in the ground. When you were done, you threw some lime on it.

We believe we are past those times. But who says that is so? Where is it written you must have plumbed water? Electricity? An indoor flushing toilet? Paved roads to drive your car along? The latest million-dollar medical treatments?

Truth is, in today’s world no one pays anywhere near the true cost of their lifestyle. For example, we pay a fraction of what our water system really costs. And most water systems are so old they leak over half the processed water they provide.

Sewage systems and flushing toilets are one of the great bargains of our life. But they are in need of constant maintenance. We can’t afford that anymore.

In fact our sewage systems leak like sieves. Raw sewage flows into the ground water systems. That is why we are abandoning more and more underground water supplies. They are too dangerous to use. We are turning to surface water and recycled sewage water for supplies. In many cases, this water is not fit to drink. Hence the bottled water boom.

Electricity is the most subsidized utility there is. Power grids average 50 years old. Generation systems built in the 1950s are not only outmoded. They still have not been paid for. The money needed for upgrades has been used to refinance and patch together the old systems. Also to subsidize escalating costs, that tariffs don’t begin to cover.

Roads and bridges are too expensive to build and maintain. So we pay for them over 100 years, with ultra long-term financing. We constantly refinance them. Problem is, by the time their useful life has ended, we still owe on them.

Police, hospitals and fire department systems cost vastly more than we can afford now. So municipalities finance these CURRENT expenses for 30 years into the future. The mountain of debt compounds for decades. Now even the interest payments have to be financed.

For 100 years we have gone on an endless borrowing orgy. Borrowing from the future, to pay for today’s infrastructure. To subsidize our unsustainable lifestyles. Now two things have happened.

One, the existing systems (still not paid for) are crumbling. 90% of America’s infrastructure needs wholesale maintenance. That alone would cost us tens of trillions of dollars. 70% of our systems will need to be replaced in the next decade.

Two, we can’t fix them. We can’t build new systems. We don’t have the money or credit.

And guess what? Our society is in denial. About all this.

2000 years ago, the Romans had plumbing. They had a vast system of paved roads, bridges and aqueducts. Then their society collapsed. The fall of Rome.

1900 years passed before the world got paved roads, flushing toilets, and hot and cold running water again. Think about that.

Now we face the fall of America and Europe:

It’s a brand new ball game. A new way of doing things. Not just for the ultra-poor nations. For the developed world, too.

People won’t like it. The services they take for granted are dying in a sea of red ink. Real soon now, these services will be no more.

Prepare yourself for a new world. Pay as you go. Pay for it NOW with cash. Or you don’t get it.

There will be no such thing as a social safety net. Unless you consider work camps as your “welfare rights.”

You really, really need to grasp this. Our entire way of life is based on two things. Both are about to change forever.

First, our entire infrastructure was built generations ago, when labor was dirt cheap, on the backs of starving immigrants. We financed these systems with endless debt, at 1%.

We can’t pay back that debt: we already have borrowed all the available money. We can’t refinance it. We have maxed out our credit card. D-day is coming.

Second, most everything we consumers buy in today’s world is manufactured by SLAVES. I repeat, the things that surround you carry an enormous price subsidy. They were made by slave laborers, who were paid almost nothing for their work.

They are the poor masses who work in the slave sweat shops of China. Of Asia, Latin America and Eastern Europe. They make a dollar an hour. At most.

Without them, we could not afford our clothing. We couldn’t buy clothing, our appliances. Our electronics. The toys for our children.

Not even our cars. Cars may be assembled in the U.S. and Europe. But the parts come from the slave labor colonies of the planet.

Rome’s infrastructure was built on slaves, too. Rome crumbled when it could no longer control those slaves. The northern hemisphere is crumbling for similar reasons.

We can no longer borrow to support our unsustainable lifestyle. And more and more, our slaves -– the billions of Asian workers — are not willing to put up with their extreme poverty. With their greatly lesser lot in life.

They aren’t satisfied working for a bowl of rice with a fish head in it… sleeping 20 people in a 400 square foot rickshaw “apartment”…and riding a bicycle.

A new system is about to force itself on the western world. It goes like this: don’t work, don’t eat. Grow old, get sick, you die.

No longer will people not work, and still get full benefits for years on end. They will not receive government health care, where they spend $300,000 of someone else’s money. All so tubes, high-tech machines and needles carrying exotic drugs get stuck into their veins — maybe keeping them alive another six months — in a money-losing, subsidized, institutionalized setting — where it’s a good day when they change the diapers within four hours after a bowel movement.

We will have to pay the true costs of our homes. Our roads. Our electricity. Our cars, appliances, medical treatment and retirement. Or do without. Not with funny money, financed by heavily-leveraged derivatives, that supposedly don’t come due for 30 or 50 years. We will have to pay with cash.

Workers in the west will get paid about the same as everyone else on the planet, who does the same kind of job. Which means the slaves in Asia and India will see slight wage increases. People in the “developed world” will see their pay and benefits get slashed. Over and over.

It was a nice fantasy. A great party. It lasted 60 years. 60 years of the most incredible, opulent lifestyle the masses have ever enjoyed. All bought to you by mortgaging our future on endless debt.

It’s only been 60 years since mass starvation, homelessness, and joblessness last appeared in the U.S. and Europe. People forget that. In the not-too-distant past, America had to cope with an ugly world. Funny how soon people forget the lessons of history.