David Collum: We are so close to a financial crisis now; we're headed for 'very, very bad' places

The only thing nearly as enlightening as reading David Collum's epic Year In Review is listening to him and Chris Martenson riff about its highlights.

Strap in, grab some eggnog, and listen to this year's recap:

We are so close to a financial crisis now that we may be way, way past the fail-safe.

We've got all these unfunded liabilities that we have to pay or face the consequences of - and they are fantastically enormous.

The pensions are all underfunded - at the top of a financial asset price bubble, mind you.

Social Security is a disaster. And we're promising so much medical help for everyone that is now profoundly expensive.

There are so many things out there that are unmoored. The Fed is unmoored. The digital world is taking us to this digital gulag, in my opinion - I don't think I'm being hyperbolic.

I think we're heading for very, very bad places.

Christopher Martenson is a former American biochemical scientist. Currently he is a writer and trend forecaster interested in macro trends regarding the economy, energy composition and environment. He is the founder of PeakProsperity.com. As one of the early econobloggers who forecasted the housing market collapse and stock market correction years in advance, Chris rose to prominence with the launch of his seminal video seminar which later became a book called The Crash Course. Chris' latest book (co-authored with Adam Taggart) is called Prosper!: How to Prepare for the Future and Create a World Worth Inheriting.