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10 Reasons Why The Global Economy Is About To Experience Its Own Version Of “Sharknado”

SharknadoHave you ever seen a disaster movie that is so bad that it is actually good?  Well, that is exactly what Syfy’s new television movie entitled “Sharknado” is.  In the movie, wild weather patterns actually cause man-eating sharks to come flying out of the sky.  It sounds absolutely ridiculous, and it is.  You can view the trailer for the movie right here.  Unfortunately, we are witnessing something just as ridiculous in the real world right now.  In the United States, the mainstream media is breathlessly proclaiming that the U.S. economy is in great shape because job growth is “accelerating” (even though we actually lost 240,000 full-time jobs last month) and because the U.S. stock market set new all-time highs this week.  The mainstream media seems to be absolutely oblivious to all of the financial storm clouds that are gathering on the horizon.  The conditions for a “perfect storm” are rapidly developing, and by the time this is all over we may be wishing that flying sharks were all that we had to deal with.  The following are 10 reasons why the global economy is about to experience its own version of “Sharknado”…

#1 The financial situation in Portugal continues to deteriorate thanks to an emerging political crisis.  It all began last week when Portuguese finance minister Vitor Gaspar resigned

“Mr. Gaspar’s resignation on July 1 has opened a Pandora’s box,” says Nicholas Spiro, managing director of Spiro Sovereign Strategy. “Portuguese politicians from the President down are treating the exit of Mr. Gaspar, the architect of the fiscal and structural reforms demanded by the troika, as a green light for a public debate about the bail-out programme. Yet the manner in which this debate is taking place, with the President undermining the prime minister and the opposition leader seeking to renegotiate the terms of the programme, is spooking markets.”

The general population is becoming increasingly restless as the nation plunges down the exact same path that Greece has gone.  Nobody seems to have any solutions as the economic problems continue to escalate.  According to Reuters, the president of Portugal has added fuel to the fire by calling for early elections next year…

Portugal’s president threw the bailed-out euro zone country into disarray on Thursday after rejecting a plan to heal a government rift, igniting what critics called a “time bomb” by calling for early elections next year.

Due to all of this instability in Portugal, the yield on Portuguese bonds shot up to 7.51% this week.  That is a very bad sign.

#2 The economic depression in Greece continues to deepen, and it is being reported that Greece will not even come close to hitting the austerity targets that it was supposed to hit this year…

A leaked report from the European Commission confirms that Greece will miss its austerity targets yet again by a wide margin. It alleges that Greece lacks the “willingness and capacity” to collect taxes. In fact, Athens is missing targets because the economy is still in freefall and that is because of austerity overkill. The Greek think-tank IOBE expects GDP to fall 5pc this year. It has told journalists privately that the final figure may be -7pc.

Another 7 percent contraction for the Greek economy?

It has already been contracting steadily for years.

At this point, it would be hard to overstate how bad economic conditions inside Greece are.  The following is from a recent article by Simon Black

My friend Illias took a drag of his cigarette as he contemplated my question.

“Our government tells us that this will be a better year. No one really believes them. But all we can do is be optimistic. Too many people are committing suicide.”

His statement probably best sums up the situation in Greece right now. It’s as if the hopelessness has gone stale, and the only thing they have to replace it with is desperate, misguided, faux-optimism. And anger.

There are roughly 11 million people in this country. 3.4 million of them are employed, of which roughly one third work for the government.

1.34 million people are ‘officially’ unemployed. To put this in context, it would be as if there were 36 million officially unemployed in the US.

More startling, if you add the number of ‘inactive’ workers (i.e. those who gave up looking), the total number of unemployed is roughly 57% of the entire Greek work force.

#3 The economic crisis in the third largest country in the eurozone, Italy, has taken another turn for the worse.  The unemployment rate in Italy is up to 12.2 percent, which is the highest in 35 years.  An average of 134 retail outlets are shutting down in Italy every single day, and the debt of the country has been downgraded again to just above junk status

Italy’s slow crisis is again flaring up. Its debt trajectory has punched through the danger line over the past two years. The country’s €2.1 trillion (£1.8 trillion) debt – 129pc of GDP – may already be beyond the point of no return for a country without its own currency.

Standard & Poor’s did not say this outright when it downgraded the country to near-junk BBB on Tuesday. But if you read between the lines, it is close to saying the game is up for Italy.

#4 There are rumors that some of the biggest banks in the world are in very serious trouble.  For example, Jim Willie (a financial writer who usually puts out really solid information) is insisting that Deutsche Bank is on the verge of collapse…

The best information coming to my desk indicates that three major Western banks are under constant threat of failure overnight, every night, forcing extraordinary measures to avoid failure. They are Deutsche Bank in Germany, Barclays in London, and Citibank in New York. Judging from the ongoing defense from prosecution and cooperation (flipped) with Interpol and distraction of resources, the most likely bank to die next is Deutsche Bank. They are caught with accounting fraud and outright financial fraud over collateral shell games, pertaining to USTreasury Bonds, other sovereign bonds in Southern Europe, and OTC derivatives linked to FOREX currency contracts. D-Bank is a dead man walking.

Time will tell if he is right.  But without a doubt the global financial system is extremely vulnerable right now.

Most Americans assume that the problems that caused the financial crash of 2008 were fixed, but that is most definitely NOT the case.  In fact, our financial system is far more shaky today than it was just before the last financial crisis.  When one major bank goes down, we could start to see others fall like dominoes.

#5 Just before the financial crisis of 2008, the price of oil spiked dramatically.  Well, it is starting to happen again.  The price of oil hit $106 a barrel on Friday.  If the price of oil continues to rise at this pace, it is going to mean big trouble for economies all over the planet.

And as I wrote about recently, every time the average price of a gallon of gasoline in the United States has risen above $3.80 during the past three years, a stock market decline has always followed.

The average price of a gallon of gasoline in the United States reached $3.55 on Friday.  This is a number to keep a close eye on.

#6 Mortgage rates are absolutely skyrocketing right now…

The average U.S. rate on the 30-year fixed mortgage rose this week to 4.51%, a two-year high. Rates have been rising on expectations that the Federal Reserve will slow its bond purchases this year.

Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan jumped from 4.29% the previous week. Just two months ago, it was 3.35% — barely above the record low of 3.31%.

This threatens to throw the U.S. real estate market into a slowdown worse than anything we have seen since the last recession.

#7 This upcoming corporate earnings season is shaping up to be an extremely disappointing one.  In fact, the percentage of companies issuing negative earnings guidance for this quarter is at a level that we have never seen before.

So is this a sign that economic activity is starting to slow down significantly?

#8 U.S. stocks are massively overextended right now.  In fact, according to Graham Summers, this is the most overextended stocks have been in the past 20 years…

Today, the S&P 500 is sitting a full 30% above its 200-weekly moving average. We have NEVER been this overextended above this line at any point in the last 20 years.

#9 Rapidly rising interest rates are causing the bond market to begin to come apart at the seams.  There is concern that the 30 year bull market for bonds is now over and investors are starting to pull their money out of the market at a staggering rate.  In fact, 80 billion dollars was pulled out of bond funds during June alone.

#10 Rapidly rising interest rates could cause an implosion of the derivatives market at any moment.  As I am so fond of reminding everyone, there are approximately 441 trillion dollars worth of interest rate derivatives out there.

If interest rates continue to soar, we could potentially see a financial disaster that is absolutely unprecedented, and the too big to fail banks would be the most vulnerable.

As USA Today recently reported, there are just five major banks that absolutely dominate derivatives trading in the United States…

Five of the biggest U.S. banks — JPMorgan, Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc. and Morgan Stanley — account for more than 90% of derivatives contracts. Regulators estimate that nearly half of derivatives are traded outside the United States.

Could you imagine the financial devastation that we would see if several of those banks started to collapse at the same time?

When you hear the mainstream media begin to talk about a “derivatives crisis” involving major banks, that will be a sign that disaster is upon us.

Most Americans don’t realize that Wall Street has been transformed into the largest casino in the history of the world.  Most Americans don’t realize that the major banks are literally walking a financial tightrope each and every day.

All it is going to take is one false step and we will be looking at a financial crisis even worse than what happened back in 2008.

So enjoy this little bubble of false prosperity while you can.

It is not going to last for too much longer.

  • Shmeggle Marxist

    DB collapse? LMAO

  • Concerned Boy

    I am very concerned

    • Ayn Rand

      Me too.

      • CitizenQuasar

        “The goal of my writing is to reach men of the intellect, wherever such man still be found.”
        —Ayn Rand

        • CitizenQuasar

          CORRECTION: “The goal of my writing is to reach men of the intellect, wherever such may still be found.”
          —Ayn Rand

  • Ayn Rand

    Syfy makes the cheesiest movies. Gotta love em though. I wonder… after civilization has reestablished itself after the worst parts of the collapse… will they make a movie about it? I hope it is good (:

    • Syrin

      So I’m not the only one to think about these sorts of things. I am a huge sports fan, and when I watch major sporting events, I often wonder if they’ll continue to play sports during massive economic collapse. I think they continued to play hockey in Russia during their collapse. What about fringe sports like golf, baseball, etc.? Will they continue to make high quality Pixar movies? Will it be a “Road Warrior” type of world? So much uncertainty.

      • Jimbo

        What we will experience is a balancing of the worlds economies. There will still be supply and demand but countries who now have relatively comfortable lifestyles (UK, USA, Europe) will see their living standards drop considerably. We will work longer hours for less pay and we will be able to buy a lot less with our money. There will be little in the way of social security as governments will only be able to rely on tax revenues to fund budgets (instead of debt). There will still be sports and movies but the stars will be paid a lot less and maybe we will watch the games on a TV in a small local bar instead of our wide screen 3d LCD screen in our lounge.

  • K

    Well Michael, we are just about at the point where the only direction is down. I hope people have prepared as much as they can. Grocery prices going up steady, and storage food heading up at an even faster pace. Soon prepping will only be for the rich, along with a long list of other things.

    • Syrin

      Actually soon prepping will be a felony. Look at Argentina.

      • K

        True, and if you read some of the laws they have passed here in the U.S. Declare an emergency, and it will be illegal here. Once I would have thought that would be a breaking point. Now with 80% of the citizens, walking around in a severely altered mental state. I am not sure there is a breaking point anymore.

        • GOM

          So..I am not the only one seeing a “altered mental state”. People today have very limited attention spans, take everything you say out of context, are overly suspicious, and generally out of touch with reality. Their cell phones are more important then what anyone has to say, the business they are conducting, and even their own children. “Men”, if there is such an animal left in the U.S., are immature to the point of being scary. Children are a nightmare combination of obesity, rudeness, and very apparent anger issues. I blame 3 things for this: vaccinations[and what is hidden in them] toxic “food”, and the Ding-Dong Pavlov “education system”. As K states, 80% altered will bring down us all…..

          • Lennie Pike

            Throw marijuana use in there. I know what it does to people. It is he most insidious drug that exists because it gives the user a counterfeit feeling of love for others, when in reality that feeling proves to be the exact opposite.

            Users think they’re using their hearts when it’ s actually their heads with zero love involved – 100% self- centeredness – which many wise men have defined to be the definition of evil.

            I estimate that 50% of Americans are regular usets. There is good reason they are not called pothearts.

            Anybody here? Wish to debate it with me? I bet you THINK you will win the argument.

          • tribeseeker

            what’s a uset?

          • Lennie Pike

            Pothead: A uset is a typo made on the keyboard of a cellphone.

            It’s not a perfect world as satan thought he was, and as potheads also do.

          • scott witherell

            You forgot women who most of them are rude, mean and self-centered.

      • Gay Veteran

        we won’t fall into a Mad Max world, probably we’ll be more like Argentina

    • abby725

      what Kenneth said I didn’t know that anyone can make $4974 in 1 month on the internet. did you look at this site link w­w­w.K­E­P­2.c­o­m

  • Wakulla Prepper

    Michael, long time reader, first time commenting. Your grasp of macro economics, and writing skills are rare, a great find in today’s world of shallow analysis, The near future will be very interesting as the global debt system implodes. Contrary to your advice I don’t think reducing debt is necessary or even desirable. If there is some type of debt reset, or high inflation those in debt (such as the sovereigns, or real estate owners) will profit from the debt reduction. At minimum folks are wise to become preppers to the limit of their financial ability, My one tip for prepping…”blue tarps” for emergency roof coverings. Best wishes, Go Noles.

    • Ralfine

      High inflation will affect the interest rates.
      Deflation will affect your income.
      If your bank goes bust, the new bank taking over your debt, or the administrator might want to call in your debt immediately, forcing you to take out another loan for unfavourable interest rates.

      In the US, if you can’t pay your debts you might end up in a private labour camp.

      I wouldn’t hope for an automatic debt reduction. As a prepper I want to be independent from anybody who can demand anything from me.

      • GSOB

        “In the US, if you can’t pay your debts you might end up in a private labour camp.”

        I think there is very little chance of ending up in some labor camp because of debt.

        It’s wishful thinking that an automatic debt reduction is possible – Plus, it won’t matter either – We are talking about a collapse i.e….when the confidence in the currency no longer exists….,
        Prepare now to defend for yourself.

        It will be chaos and riots, just like you see overseas.
        But Americas’ brand of internal turmoil will be far more intense and horrible.

        Prepare for the worst.
        Watch the movie “The Road”
        to get some idea of where I am coming from.

        • Ralfine

          In America, labour camps are called profit making private prisons where inmates are allowed to work for $1 per day. it is a multi-million dollar business with its own corruption. a judge was already caught increasing incarceration of youth for cash.

          • GSOB

            True. However, bankruptcy
            (personal debt $)
            will not land you there, at least not in America.

          • Ralfine

            try googling debtors prison. aclu org is also an interesting website

  • Robert Govan

    Make sure you save your household by being in “physical” only gold coins. Be sure to check out the fofoa blog. And then look up the word “freegold” on Wikipedia, they have a accurate post on it. Physical gold only, not paper gold contract promises, or even mining shares, will be revalued one time overnight in the near future to 55,000 dollars an oz.

  • Jedi

    Sharknado is a must see for me:)

  • Syrin

    Here’s the problem. WHEN ?!?!?! I’ve been expecting Sharknado for about 2 years now, and have adjusted my life style, portfolio, and investments accordingly. I have been amazed at how long TPTB have been able to delay the inevitable. Can they delay it for a decade or more? Will QE infinity really keep the DOW propped up indefinitely? Everything I know about economics tells me that at some point the laws of economics take hold, but it seems like it may take much longer than I anticipated.

    • Ralfine

      Live your life now. That’s why it’s called the present.

      For a smooth ride leave some slack either way, then things can move up and down without too much friction and without bumping too often.

      You don’t want to be caught with your pants down at night or over your holidays, or while you are down with the flu.

      You might miss some “opportunities”, but you keep your sanity.

      • Graham

        “Live your life now. That’s why it’s called the present”

        Great quote!

        The previous second no longer exists and the next second has still to arrive. The only “reality” that exists “lies in between”. The NOW.

        What are minds doing most of the time? Thinking about the past and/or the future?

        Distraction is a very powerful tool. How many are living distracted lives and missing the essence of reality?

        If you want to guarantee an experience of the NOW for a very brief moment, focus on your breathing at the end of your nose.

        Thinking and consciously focusing on the breathe are not mutually compatible. Thankfully our breathing is regulated by the subconscious, otherwise the majority would likely be dead within minutes.

      • Syrin

        Oh, I have, don’t get me wrong, but there are a few luxuries I’ve passed on that I might not have if this wasn’t lingering in the back of my mind. Sound advice though. Thanks.

    • Guest

      The hardest part about all this, for me at least, is the uncertainty as to what will happen next. I too am amazed at how long TPTB have been able to keep this going. It does seem that they’ve been able to defy the laws of economics. It’s like we need to forget everything we learned in ECON 101. And they may keep it going much longer than we think. But we have to be prepared because the global economy could literally collapse overnight.

      • Jim James

        You may have to wait a bit longer. Martin Armstrong posits a strong counter-intuitive case.. whereby the US dollar and stock market actually rise very strongly. How? Because money will flee the Eurozone and into the dollar and US assets. it doesn’t mean the US economy is doing well, it just means that there is no where big enough left to go. Then, this causes the US economy to massively further decline ( can’t export + massively higher trade deficits ) and in late 2015 you get the real nasty decline for about 4 – 5 years.

    • Joe Kleinkamp

      Frustrating isn’t it? Timing is critical as demonstrated by the equities market returning over 16% ytd while PMs are down 30%. It’s painful to consider the huge difference between the timing of getting out of equities and into gold a year ago and making the same exchange today. $10,000 in equities has become $11,600 while $10,000 in gold is worth $7,000 today. Our caution has cost us (on paper) to forego over 65%. I believe the pendulum will eventually swing back but with our artificially propped up economy who can guess when?

    • Hammerstrike

      Because of inflation, your money looses 1% of its value circa every 5-6 weeks.

      So the earlier you start buying things you need for the Big One, the more you´ll have.

      Preparations also becomes more and more difficulte due to falling wages and job opportunities.

  • GSOB

    “D-Bank is a dead man walking.”

    and this one,

    “When you hear the mainstream media begin to talk about a “derivatives crisis” involving major banks, that will be a sign that disaster is upon us.”

    Thanks for the queue Michael.

    • Nexusfast123

      D-Bank is not unique as all the major banks could be thought of as ‘Zombie Banks’ as they all continue to rely on massive government credit support.

      • GSOB

        Yep, could be.

  • Jaguar34

    The price of gas this evening in michigan is $3.85

    • Ralfine

      Per gallon? That’s cheap.

      We have GBP 1.40 per litre. Or EUR 1.60 / litre. In Hong Kong it’s HK$11/litre.

  • I_Wished_I_Owned_an_Igloo

    I have a question with the mortgage rates. As you can see with the housing bubble in Canada, my rents keep on increasing every year by $80 per month, just below the percentage which law prohibits excess increases.

    Does mortgage rates affect rent? Or is inflation really reducing the value of my dollar?

    I cannot afford to take a mortgage as a small post-World War 2 bungalow sells for around $600,000 to $900,000. I am only 30 years old and I work part time jobs because those are the only jobs available..

    I have to rent because the interest rate for mortgages might fluctuate and make me lose money on home investment.

    • Ralfine

      I rent for the last 30 years. My parents rented all their life. If you are a young mobile professional, that’s not too bad. At the drop of a hat you can pack your bag and move to the next job.

      After I finished university I moved to my first job thousands of miles away, got a small place. Didn’t like it, and moved to a better place across the road after a year.

      The landlord then doubled the rent, I moved somewhere cheaper, nearer the office, from 20th floor at the sea shore to 1st floor in the forest.

      Got promoted after 2 years, moved across the border. Found a cheaper home with better facilities, moved again. etc.

      “a small post-World War 2 bungalow sells for around $600,000 to $900,000″

      Now I live in a 19th century terraced house. It keeps me dry and warm and protects my books. And I bought a pre-WW2 house with half acre garden for my parents to live in at an auction for less than 60,000 Euro.

      When there is a bubble, I wouldn’t buy anything. Not with any interest rate. Just rent until the bubble bursts. Making sure I keep enough cash to need very little loan, which I can repay quickly.

      Rent will rise with interest rate, but also fall with interest rate. Not for THIS property, but for the one across the road, or the other side of town.

    • GOM

      You speak of things past. Getting in debt to impress people you don’t know and/or become a debt slave for life for a ‘home’ you will never own?, I don’t get it…Find a good travel trailer, park it affordable and safe. Save your income. Now get what you need to survive, this is not your Grandfathers world….

  • timo45

    Can people see how much we need God in our life. If they don’t see it now I don’t know what its going to take.

    • Ralfine

      What will he do? Reduce the gold price? Burst the bubbles? Unlikely, He will punish everybody after their death.

      Nice.

    • Wakulla Prepper

      If a mortgage changes hands due to bank sale/takeover (as mine already has) the bank cannot call the loan. The mortgage is a contract that can only be called for a violation of the terms of the contract. Meanwhile I will raise the rent on the mortgaged house with, each lease renewal, as market forces allow. As always the financially prepared can profit in any market when well positioned.

    • toya

      amen he is allowing these things to get man’s attention so if you are one to rely on government in stead of god you should be scared cause what you live by you die by.
      remember jesus said it would be this way we who believe and trust him PRAY I suggest all men every where do the same.inspite of what anyone tells you ONLY OUR LORD AND SAVIOR CAN AND SHALL SAVE HIS PEOPLE.god bless be bless the king is coming his coming is even at the DOOR.

  • saalnaz

    Hello michael. I think i asked you this before , but i dont recall Your answer. It is surely difficult to find your contact details (email) anywhere on your site.Is there a way to send you an email?
    Thanks.

    • K

      Not Michael, but if you go to the top of the page and click contact. The info is there.

  • colllaro

    Is this a real movie? It can’t be. +FD

  • jag

    I see experts predicting March 2014 as the month the derivatives will crash. What do you think?

  • chilller

    Word I’m hearing is gas is going to jump 10-20 cents very soon. Stock up what you can.

  • squashpants

    I am sure there are those of us that cannot wait for the Big Collapse to occur, but as far as I and my wife are concerned, it can wait a bit longer. The ideal time for the SHTF, for us at least, would be next summer. A year would give us enough time to get the rest of the things we need for post-TEOTWAWKI. We get one major item a month, and continually add to our stockpiles. Another 11-13 months should do it. Will it wait that long?

  • colllaro

    Is that a real movie? It can’t be. +FD

  • el tortuga

    none of us has any idea what it will be like once it finally comes. I expect a death of a thousand cuts, so in that regard one might say we’ve had many painful paper cuts that we’ve been trained to ignore, and many more on the horizon. it does seem though that a distinct and decisive tipping point will eventually come. expect no help from any government or their agencies. much like Greece, fat men eating as well as ever will use the armed soldiers and police to protect themselves and their frozen porter house steaks. they will leave us little people to fight and scrounge among ourselves.

    • Shmeggle Marxist

      sounds about right

  • Trailer Park Investor

    I hold the note on that 441 Trillion interest rate derivative. Your share of that bill comes to:
    1.2 Trillion Dollars, will that be Cash, Check or Gold? Sorry we do NOT take credit cards.
    Get ready for the worlds largest screwing, you don’t think the banks will pay this DO YOU?
    (( YOU ARE GOING TO PAY THIS BILL )).
    They make a bad gamble and now they can’t pay, guess who gets the bill???
    I think that should be a jail able offense. Put ALL crooked Banksters in jail…

  • Cpankie

    Ok, Wall Street is trning into a casino, please ti always been a casino with the traders ahving all the advantage. The average person has seen the exact same amount of growth from the stock market for the past 50 years, approximately 4%. The only people making more are the peolpe directly involved in the market.

  • Lennie Pike

    I have been reading Jim Willie for many years and can’t remember him being wrong even one time.

    He and men like Peter Schiff are lovers of truth and need to be the replacements of the the scum administering America’a financial system – the system outlined in the U.S. Constitution that was hijacked by satan worshippers yet again in 1913.

  • Lawrence D. Wood

    Ah, an optimist.
    Gold.
    Not just a commodity.

  • Sev

    it won;t be a collapse IMO, but a slow rot like the USSR

  • BRUCE

    What prosperity? Most of us are barely keeping our head above water as is. I have ZERO debt and I mean ZERO. My house is paid for and so is my vehicle. However, my hours and pay have been cut so much it is all I can do to pay for electricity, water, taxes, insurance, cable, fuel and groceries. One missed check, one accident or illness and I am cooked. I can’t imagine the fear that those who have a mortgage, car note or credit card debt must feel. Many have 2,000 or more house notes. My God if that were me I could not sleep at night.

    • Stephanie S

      Cut the cable. Sell your car and use public transportation or a bike. Shop at dollar stores.

      • LeseMajeste

        Shop at dollar stores? Where you’ll buy GMO and chemical laden food that is harmful to your body?
        Cheap to buy, but deadly in the long run.

      • GOM

        we recently saw an Asian man buying tons of noodles and other food items in the “dollar store”, he then went to the Chinese restaurant, unlocked the door, and when in…

    • Jimbo

      I too have zero debt, house paid for and car and everything else I need fully paid for. I earn above the average salary in Australia but real inflation is eating away at my spending power. We don’t live an expensive lifestyle either (no cable TV. and holidays are camping trips in a family tent). I spent my early 20’s living in Thatchers Britain of the 80’s when unemployment was 10%. I was lucky enough to have a job (low paid) and I walked everywhere including 5 miles each way to work everyday. Shopping back then was done on a strict budget, meals were planned in advance and cooked from scratch. Nothing was thrown away. I expect that the lifestyle I lived in the early 80’s is what we will have coming to us very soon. The Chinese live that way now but they will tell you that they have never had it better. We live in a world where the majority are lucky to survive each day and live a frugal existence. Those of us in the West have been lucky in the past but our debt fueled countries can’t continue to live as they do. In Britain, you can go from cradle to grave without ever working. The state pays for everything. They house you, pay for your healthcare, transport costs, legal fees, education, school meals and aged care. Of course, all of this is funded by debt and sooner or later that debt has to be paid for. That time is coming. I welcome it personally because a crash will take us all back a few steps. We won’t be throwing away food and good clothes that are slightly outdated. We wont be shipping in strawberries in winter and we won’t be turning on the heating in our houses when we can just put on a sweater instead. We will only be able to trade with eachother with real currency and not with promises to pay based on possible future earnings. We will use fewer resources and we will begin to trade locally again. The family will become king as we learn to become more self reliant. Maybe it shouldn’t be called an economic collapse. Maybe Economic Re-birth would be a more fitting description.

      • GSOB

        One can only pray that’s all there is to it,…. that it will be a seamless transition to a distant dream of the city.

        A sentimentalist’s idea, – rebirth of a nation without tribulation or labor.

  • Tricktrick

    You need to stop watching terror movies

    • Mondobeyondo

      …and start living them in real life instead!!

  • Jason

    Right, go ahead, restore the constitution, see what will happen. i
    guarantee the US will become totally destroyed, everyone doing business
    in the US will leave, and the maniacs and gangs, will take over with the
    guns.. You want to live in that environment go ahead. The US will
    become 1000000x worst, and living standard will be like a third world Africa. Be careful what you wish for.

  • Pencrna

    Gas was $3.69 on Thrs when I went to work. $3.79 thurs when I came home. $3.89 this morning (sat) when I drove by.

  • Shmeggle Marxist

    where is gayveteran to tell us how fellating men is so awesome, bwhahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa. economic problems solved!

  • Mondobeyondo

    Coming soon to a purse or wallet near you:

    “Derivitavalanche: The Financial Snow Job”

    (Don’t know the release date, but it’s already in production.)

  • Mondobeyondo

    Re: #5…
    The fact that oil prices are continuing to rise shows that things are not as they seem to be economically. Someone out there is worried. Who has the most oil and is in control of it? The Middle East. A LOT of oil passes through the Suez Canal and Red Sea. Notice all those nice, lovely, stable democracies over there? Egypt, Saudi Arabia, Iraq, Iran. (“The hand who rocks the Red Sea, is the hand that rules the world”)…And all of them love America! Right? Anyway…

    Stocks reach record highs. Unemployment rate is fundamentally sound (English translation for gullible public: “Everything’s GREAT!”) and yet oil prices are spiking.

    We may have long forgotten the oil spikes of the 1970’s and 1980’s, the bad old days when Sheik Yamani and Sheik Djibouti would sheik it up at an OPEC meeting. Maybe so. But it is still a very dangerous world.

    • Dee R

      cmon man Egypt is not in charge of anything. The Suez is controlled by the international zionists. TO think any middle eastern country has an leverage on the world is to be naive. Islam is a front for the globalists to keep those countries backward and it has been working since the reign of the British Empire there.

      • Beanodle

        The Suez canal was blocked between 1967 and 1975. From the Six Day War until after the Yom Kippur war. I don’t think that the International Zionists controlled it very well then.

      • Mondobeyondo

        It would be wise to watch what happens in Egypt very closely. And you may be right, the Middle Eastern countries being one side of the globalist “chess board”, and Europe/U.S. being the other…

  • chilller

    Michael, I see Max Kiser posted points 9 & 10 from this article on his site…were you aware? He doesn’t mention your name…shame…

  • Haha

    Keep living in doom and gloom dummies. Market will always make news highs due to increased earnings and then increasing dividends. But fight it. Fight technological and medical advances too. Fight the fact no major wars going on. Be a prepper. Miss out.

    • LeseMajeste

      What planet do you live on? Here on Earth, we still have the never-ending War on Terror and the War on Drugs, both designed to take our money and liberties.
      And what about that other undeclared war, the one that the Federal Reserve is waging against the USD?
      The dollar is being inflated to nothingness, but don’t worry, have a good time!!!

    • Jimbo

      Increased earnings? Which markets are you looking at?

  • JasonD

    Sharks and tornados. The only thing better is if they could find a way to somehow work bacon in there somehow!

  • Jill MacCartney

    I just found this, and realize I’m totally out of the loop. How do we prepare for this? I know time is short, but what can I do to save my family and home?

  • JohnO

    At lest you guys over in the USA don’t have a NATIONWIDE CARBON TAX that’s about to be linked to the EU Carbon Market casino…

    I wish that people here in Australia were aware of what’s happening, Our electricity prices have DOUBLED in the last 12 months, and the carbon tax is LESS than twelve months old :(

    How does a $950 USD quarterly electicity bill sound? That’s after installing all the low voltage lights, switching to gas hot water, running the dishwasher COLD at 2:00am only when 100% full, doing only one washing a week in the Laundry in COLD water, showering only twice a week.

    Not using the Microwave, installing these ‘smart switches’ that turn the TV and appliances off at the wall. Turning off lights as I leave the room and so forth.

    That was my bill recently :(

    We have become the ‘Frog in the Pot’, only a handful of people can feel the temp rising though.

    • markinla

      Over here in Los Angeles we have a publicly owned utility in a cash strapped city. The city always supports rate increases since the utility kicks back. That way they can tax us without it being a tax.

  • edrobar2978

    Because of this, the FED won’t taper the QE this year nor the next one, another bubble is coming soon.

  • seth datta

    More bankster nsa thievery

  • Jane

    Marry me ~~

  • ian

    Yadda yadda yadda…same thing, different year. Nothing new.

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