It's Armageddon time!

Today's gloom and doom roundup:

Forbes, on the Iranian nuke threat: Armageddon Time - When it comes to Iran, the U.S. may be facing a cataclysm:

Victor Davis Hanson is a military historian; Robert Baer a former CIA field officer. Both have studied the Middle East for decades, traveled to the area repeatedly in recent years and written about the region extensively. And both have become convinced that we may be facing a cataclysm. ...

Denniger, on signs of impending credit "difficulties" (read it all for his reasoning, but key conclusions below): Possible Credit Dislocation: Be Warned (emphasis in original below):

... IF this is going to manifest as a dislocation of some sort it will probably occur within the normal closing window for real estate transactions, since the anecdotes related to that have the best-defined "reach", and the discounts being accepted to avoid this risk are massive to the point of denoting near-certainty of this event in the minds of the market participants who are electing to accept these cash-discounted offers.

Therefore, if you are dependent on such credit access I would take immediate action to do whatever is necessary to mitigate, to the extent you are able, the consequences of such a dislocation.

Consider how you survive returning to what essentially amounts to a cash economic posture in your business and personal life. ...

Marketwatch: 20 reasons America has lost its soul and collapse is inevitable:

ARROYO GRANDE, Calif. (MarketWatch) -- Jack Bogle published "The Battle for the Soul of Capitalism" four years ago. The battle's over. The sequel should be titled: "Capitalism Died a Lost Soul." Worse, we've lost "America's Soul." And, worldwide, the consequences will be catastrophic.

That's why a man like Hong Kong contrarian economist Marc Faber warns in his Doom, Boom & Gloom Report: "The future will be a total disaster, with a collapse of our capitalistic system as we know it today."

No, not just another meltdown, another bear-market recession like the one recently triggered by Wall Street's too-greedy-to-fail banks. Faber is warning that the entire system of capitalism will collapse. Get it? The engine driving the great "American Economic Empire" for 233 years will collapse, a total disaster, a destiny we created. ...