Rapture verdict ad 1
The Beginning Of The End Ad
Gold Buying Guide: Golden Eagle Coins

Recent Posts

Archives

Michael and Meranda's New Show

Michael & Meranda’s New Show

Food for liberty
Economic Collapse DVD The Preppers Blueprint Economic Collapse Blog Get Prepared Now Ad

11 Signs That We Are Entering The Next Phase Of The Global Economic Crisis

Share on FacebookTweet about this on TwitterPin on PinterestShare on Google+Share on LinkedInShare on StumbleUponEmail this to someone

Earth Puzzle - Public DomainWell, the Nasdaq finally did it.  It has climbed all the way back to where it was at the peak of the dotcom bubble.  Back in March 2000, the Nasdaq set an all-time record high of 5,048.62.  On Thursday, after all these years, that all-time record was finally eclipsed.  The Nasdaq closed at 5056.06, and Wall Street greatly rejoiced.  So if you invested in the Nasdaq at the peak of the dotcom bubble, you are just finally breaking even 15 years later.  Unfortunately, the truth is that stocks have not been soaring because the U.S. economy is fundamentally strong.  Just like the last two times, what we are witnessing is an irrational financial bubble.  Sometimes these irrational bubbles can last for a surprisingly long time, but in the end they always burst.  And even now there are signs of economic trouble bubbling to the surface all around us.  The following are 11 signs that we are entering the next phase of the global economic crisis…

#1 It is being projected that half of all fracking companies in the United States will be “dead or sold” by the end of this year.

#2 The rig count just continues to fall as the U.S. oil industry implodes.  Incredibly, the number of rigs in operation in the United States has fallen for 19 weeks in a row.

#3 McDonald’s has announced that it will be closing 700 “poor performing” restaurants in 2015.  Why would McDonald’s be doing this if the economy was actually getting better?

#4 As I wrote about the other day, we could be right on the verge of a Greek debt default.  In fact, we learned on Thursday that the Greek government has been “running on empty” for months…

Greece warned it will go bankrupt next week after failing to stump up enough cash to pay millions of public sector workers and its international debts.

Deputy finance minister Dimitras Mardas set alarm bells ringing yesterday when he declared the country had been ‘running on empty’ since February.

With a debt repayment deadline looming on May 1, Greece faces the deeply damaging prospect of having to snub its own employees to make a €200m payment to the International Monetary Fund.

#5 Coal accounts for approximately 40 percent of all electrical generation on the entire planet.  When the price of coal starts to drop, that is a sign that economic activity is slowing down.  Just prior to the last financial crisis in 2008, the price of coal shot up dramatically and then crashed really hard.  Well, guess what?  The price of coal has been crashing again, and it is already lower than it was at any point during the last recession.

#6 The price of iron ore has been crashing as well.  It is down 35 percent in the last nine months, and David Stockman believes that this is because of a major deflationary crisis that is brewing in China…

There is no better measure of the true contraction underway in China than the price of iron ore. The Wall Street stock peddlers will tell you not to be troubled by the 70% plunge from the 2012 highs and the 35% drop just in the last nine months. According to them, its all the fault of the big global miners who went overboard opening up massive new iron ore pits and mining infrastructure.

#7 At this point, China accounts for more total global trade than anyone else in the world.  That is why it is so alarming that Chinese imports and exports are both absolutely collapsing

China’s monthly trade data shows exports fell in March from a year ago by 14.6% in yuan terms, compared to expectations for a rise of more than 8%.

Imports meanwhile fell 12.3% in yuan terms compared to forecasts for a fall of more than 11%.

#8 The number of publicly traded companies in the United States that filed for bankruptcy during the first quarter of 2015 was more than double the number that filed for bankruptcy during the first quarter of 2014.

#9 New home sales in the United States just declined at their fastest pace in almost two years.

#10 U.S. manufacturing data has been shockingly weak lately…

On the heels of weak PMIs from Europe and Asia, Markit’s US Manufacturing PMI plunged to 54.2 in April (from 55.7). Against expectations of a rise to 55.6, this is the biggest miss on record. Of course, this is ‘post-weather’ so talking-heads will need to find another excuse as New Orders declined for the first time since Nov 2014.

#11 When priced according to “the average blue-collar hourly wage“, U.S. stocks are the most expensive that they have ever been in history right now.  To say that this financial bubble is overdue to burst is a massive understatement.

For a long time, I have been pointing to 2015 as a major “turning point” for the global financial system, and I still feel that way.

But for the first four months of this year, things have been surprisingly quiet – at least on the surface.

So what is going on?

Well, I believe that what we are experiencing right now is the proverbial “calm before the storm”.  There is all sorts of turmoil brewing just beneath the surface, but for the moment things seem like they are running along just fine to most people.  Unfortunately, this period of quiet is not going to last much longer.

And those that are “in the know” are already moving their money in anticipation of what is coming.  For example, consider the words of  Snapchat founder and CEO Evan Spiegel

Fed has created abnormal market conditions by printing money and keeping interest rates low. Investors are looking for growth anywhere they can find it and tech companies are good targets – at these values, however, all tech stocks are expensive – even looking at 5+ years of revenue growth down the road. This means that most value-driven investors have left the market and the remaining 5-10%+ increase in market value will be driven by momentum investors. At some point there won’t be any momentum investors left buying at higher prices, and the market begins to tumble. May be 10-20% correction or something more significant, especially in tech stocks.

It may not happen next week, or even next month, but big financial trouble is coming.

And when it finally arrives, it is going to shock the world, even though anyone with any sense can see the coming crisis approaching from a mile away.

  • K

    McDonald’s has been doomed for awhile. The main thing that kept them going was their prices. A poor person could just about feed their family as cheaply there, as cooking. Now not so much.

    • MichaelfromTheEconomicCollapse

      It is true. I remember in the old days I could eat like a king at McDonald’s for less than five dollars.

      • RICHARD

        I can remember a time at McDonald where for a buck you couldn’t eat all that food, ofcourse I was just a pup then.

    • Revolt to save America

      their dollar menu is pretty much gone…… everything about new and fresh.

    • AS55423

      Part of McDonald’s problem is the quality of their food is horrible. Why are Culver’s, A&W and many other burger places doing well ? I also see Chipotle earnings were down also.

      • barry oldwater

        A and W went out here almost as fast as they came in.

  • JAY

    Let’s see what September 2015 brings us

    • Rufus T Firefly

      It will bring us the opiate of the people: NFL

      • Max

        Along with the stimulant… Premiere month for shows.

    • Orange Jean

      My guess is another government shut down. Fiscal year for US Federal government ends September 31, every year.

      • Support

        no it doesn’t

    • Cece

      Shemittah! Judgment is coming America. Repent and be saved.

      • Patrick

        Amen!

        • Dr. Van Nostrand

          Lol 2 idiots.

  • Catman

    I’m with Jay on the September thing. May be October. With rates already near zero doesn’t seem like another round of Fed QE would do much good. However, that won’t keep the Fed from hinting at it like they have the elusive interest rate hike for months and months just to juice the market from day to day.

  • T.

    Oil rig count Imploding; Half of fracking companies Dead or Sold by end of year; Coal price Crashing; Price of iron ore Crashing; McDonalds closing 700 restaurants; Chinese Imports/Exports Collapsing; Greek Debt Default Imminent; Spanish Unemployment at 23.7%; I mean other than that – Things are just Fine in the World.
    The can has been kicked as far as it can be kicked – The Manipulators have Manipulated as much as they can Manipulate.
    The Global Financial Implosion and Collapse will take place in September 2015 – SHEMITA! ! !

    • tom

      and when nothing happens…say october, november, december, or spring 2016.

      • T.

        When nothing happens just thank the good Lord above that YOU have a little more time before “All Hell breaks Loose”.

        • Dr. Van Nostrand

          Won’t be thanking some imaginary being for anything.

      • Alex Nguyen

        Head meet sand.

  • Rukander

    Welcome the Global Financial Implosion and Collapse.

  • Kim

    I’m not sorry to see the fracking companies go. But, it’s going to devistate local/regional economies. I’ve read articles about increases in crime and drug use in some of these fracking localities. Just wait until all of those high paying jobs disappear. With them goes the restaurants, shopping areas, hotels, et cet. What will be left is hopeless, unemployed, desperate people with no way to pay their debts and no way out. They’re not gonna know what hit them.

  • getback

    Tax revolt will get the attention of our goberment-real fast-watch the guns come out baby! You think I’m gonna let a terrorist cut my head off if I can help it? If I’m ready for them I’ll take at least one with me. If all 100,000,000 gun owners take one or two with them, may be more, we will defeat the terrorists of the gooberment. Let’s turn this thinh around. They are the terrorists, not the majority of the people that are still wanting to follow the constitution as the law of freedom.

  • rat28

    Those who listen to doom and gloom stories are missing the boat.. I have never made so much money from the stock markets. I am betting all my money ,margin and leverage that the stock markets have more upside. Central bankers have release 7 trillion dollars thru’ all kind of QE and interest cut. The stock markets have no where to go but up.

    • tom

      I agreed i have done well also. I am beginning to think Michael S is a con-man. Take a look and Michael’s picture. he looks like a hick moron.

      • HeyAHuman

        Well, good for both of you. I hope that somebody’s impressed. Michael is just sharing facts, and it’s clear that you’re missing the big picture. I hope you’ll take off your blinders, come to your senses and prepare for the inevitable.

      • jakartaman

        May I recommend, that you being so smart, not visit Michael’s blog. In fact why don’t you give us all the answers of the economic future of the world.

      • MichaelfromTheEconomicCollapse

        Why would you call me names? And what am I wrong about?

        If you want me to change my mind about something, it is actually very easy. Just use logic and reason. Those are two things that I tend to respond to very well.

        Michael

        • guest

          Apparently you are nearing the target. I’ve noticed, especially recently that, you are getting a whole lot of flak.

      • Dave

        And you like….what? Just remember..a fox smells his own hole…

        • Dave

          Sorry…that was supposed to be “and you look like”. Guess I got a bit overdone over that comment. It just burns me up that some people resort to name calling in an effort to make their case. It simply never works in their favor.

      • john

        send us your picture so we can have a good laugh!

        I still need to complete my monkey album. :)

      • 1johnconnor1

        Hick eh? Wow, another ‘tolerant’ liberal troll is born. Hey buddy, if you don’t have anything worthwhile to say, why don’t you just got back to reading the huffing ton post, more your speed. Don’t go away mad, just please, go away

        • tom

          HA! I am pretty conservative bro. never voted democrat in my life.

          • 1johnconnor1

            Mm..mmmm. Yeah, my bad.

          • 1johnconnor1

            Shut komrade

    • autofixer

      The stock market will continue to go higher, until it doesn’t. “Sell in May and go away.”

    • Heinrich van Rooi

      This is exactly why and how people are lose evertything!!!!!Take your profits please will you still can because what are coming next will definely chaotic…Coming May will be the last highs the makets make from there the trouble begins….The markets can crash anywhere then albeit it in late May, July, September and even in October… Those are the months the markets will start trade lower…. As I said May will the last time the markets will make highs..

    • cheryl

      Umm…ya good luck with that.

    • Priszilla

      All that money will become pretty useless the moment people sell their stocks and try to buy something else. First you’ll find that you can’t buy gold because someone else paid double of what you have.
      Then you’ll find that you can’t take a taxi to town because the driver starved.

    • s

      You can only make money when you sell your stocks & pay taxes. I know a lot of folks who used to brag about their 401K and retirement accounts before the last crash then… 60% or more suddenly disappeared. Similar to the housing crash, you can have a ton of equity but you only make money when you sell and actually get money in hand.

      Don’t count your chickens until they hatch.

      • Orange Jean

        I agree with you on that one. I had a 401K retirement that I had to move somewhere when I changed jobs, I put it in a mutual fund… last big crash lost not only all I had gained on it but part of my principle also.

        I did keep it in there (big fines for taking out an IRS retirement fund) and it’s since gone back up to what it was before the last crash… but I think of it as “pin money” that may or may not be there when I need it, not as actual assets.

    • Jerry

      “The stock markets have no where to go but up.”

      For right now that does seem to be the case.

    • 1johnconnor1

      Lol, ummmm…. Ok, good luck with that, friend

  • Hans

    Using smoke and mirrors, you can hide the fact that you consume more than you produce, spend more than you earn and pay for it with currency created out of nothing.
    It is obvious that the whole system is unsustainable.
    Eventually it has to collapse and everyone will realise that the “magic” was in fact illusion. If you base your investment on the magic that you see, you will end up getting burned.

    • Heinrich van Rooi

      Precisely asset prices has been with cheap printed dollar and QE which are not sustainable

    • Nemnor

      the world-wide economic system is clearly unsustainable. However, it is more likely that the mass of the people of the world will wait until millions (and probably even billions) PERISH, before we “wake up” and realize that the ONLY solution is a fundamental change away from the current world-wide economic system to a sustainable alternative system that addresses the ABUNDANT needs of the “rational” individual..

      • robert h siddell, jr

        Communism will never work no matter how many Useful Idiots try.

        • Christian Man

          What Robert said.

      • Bert

        Finally someone with the vision to see there are other possible directions for the human species. May want to check out a facebook group dedicated to designing a future system that will work. Spaceship Earth Crew.

  • cheryl

    Read book the Mystery of the Shemitah

    • MichaelfromTheEconomicCollapse

      Great book – as you can see, I recommend it on the side of this website :)

    • Nemnor

      While powerful individuals or groups of individuals, world leaders and nations would have some degree of influence on the socioeconomic life of on this planet, the “error” with books and other info about the Shemitah is that they imply that the “booms” and “bursts” events in the world-wide capitalist system is (mostly) CONTROLLED by a (7-year) cycle.

      WRONG – The “boom” and “burst” cycle is part of the INTRINSIC nature of the world-wide Capitalist system and any semblance to being on a 7-year cycle was purely insidental. Notice that the system is sinking from “on-going crisis” to “deeper crisis” every 3 or 4 years now (NO 7-year cycle). In fact, places like the UK had TRIPLE-DIP recession, from since 2007/2008 (NO 7-year cycle there).

      However, there is PRETEND “recovery” and masking of the on-going crisis from since the UK and other countries went into double-dip recession. So come this September, IF they then stop pretending there is a “recovery” (or even directly state there IS a recession and cause irrational and greedy investors to panic), many might then attribute the supposed NEW “recession” to Shemitah’s 7-year cycle – and believe the whole thing is “controlled”, rather than face the REALITY that the world-wide Capitalist system is DECADENT (and decaying) and is the MAIN reason for the deepened recession/depression that is now happening every 3 or 4 years, and on a shorter and shorter “boon”/”burst” cycle – towards permanent/total collapse/chaos.

      • Candy

        the cycle is in the U.S. And not the UK.

      • robert h siddell, jr

        Crony Capitalism and the Elite Oligarchy System is responsible not Capitalism.

        • MoneyIsPower

          Capitalism can only result in elite oligarchy and crony capitalism (which is capitalism by the way). Once a corporation or a small cadre of individuals get significantly more wealth than anyone else they then use that money to takeover the political system and change the laws which govern their behavior such that they can get even more money and power. Any system that distributes wealth extremely unevenly will have this result. Look back at history and you will see endless examples.

          • robert h siddell, jr

            All true because that is human nature but other economic systems are worse. Wish I knew what system Jesus will install.

          • The voice

            Read your bible especially the book of Isaiah its all right there

    • Patrick

      Phenomenal book! A must read!

    • SunnyFlaSnotress

      I’ve got better things to do with my time.
      In my opinion, national health issues will possibly outweigh economic issues for the next year, though the two go somewhat hand-in-hand.

  • Selaretus

    Money with Actual Value

    I once had money with actual value
    A market shill said, a bridge I’ll sell you
    He’d tell me when to sell and just in time
    So I bought it on margin to the very last dime
    Encouraging words came without ceasing
    I was rich, I guessed, my wealth increasing
    Then Iearned the bridge I went for were just lines of
    code in a Ponzi coffer
    I lost all that money with actual value
    But I have a bridge I’d love to sell you!

  • XSANDIEGOCA

    At some point, interest rates are going to have to be raised, dramatically. That’s when the house of cards collapses.

    • FortuneSeek3rz

      It is a myth interest rates HAVE to be raised.

      • XSANDIEGOCA

        When you can no longer print money or raise taxes and you need to attract foreign money to pay your bills, you raise interest rates.

        • FortuneSeek3rz

          Foreign money is pouring into U.S. equities and the bond market. There is no need to raise interest rates because the U.S. is the world’s tallest midget and everyone is acutely aware of the return on investment the U.S. provides.

          • XSANDIEGOCA

            We need to offer negative bonds like Europe. Hey, gotta deal for ya. Give me a million and I promise you 980K!!

  • lizann34

    What are we suppose to do with our money?? I am not one to buy gold so should I take out of the stock market and banks and hide around the house? I am good with all in preparing but not sure what to do with money I have invested in the stock market. Any thoughts? Thank you Michael for always giving us great articles and helping to prepare us but this is one area I am not sure of.

    • K2

      Keep it invested in the market, but keep an eye on your stocks every single day. If it starts falling sell it little by little. If it starts falling rapidly…sell rapidly.

    • stephen

      You don’t want to buy gold which holds its value and has weathered wars, depressions, etc. Precious metals have never failed. Something to think about.

      I’m not saying sell everything and buy PM (precious metals) but diversify and keep some of your assets in PM. PMs are not tracked or taxable. When I pass on my wife &/or kid will get my PMs with no death tax, etc. I can also transfer my PM to family or others with no penalties, tax, etc.

      I would also save some money at home as well – I guess what I am saying is to no have an ‘either or’ mentality but a more diverse way of looking at things.

      In my experience PMs have helped me and my family during tough times.

      • TB

        I couldn’t have said any better! But DO sell everything and invest the proceeds in P.Ms (especially silver) and the remainder in Cash (as much as possible at home). First comes Deflation then we will Inflate. So cash now and Gold and Silver later!! TB

      • Jerry

        PMs are taxable. It is called capital gains tax. Also some states charge sales tax when you purchase PMs. PMs have actually helped saved your family in tough times? When and how? The same could be said about stocks and bonds and many other things depending on your own personal situation.

        • NCFREEDOM

          I’ve bought and sold PMs for years, it all in how you make the transaction on whether you pay cap gains or not. Nor have I ever paid a dime in sales tax. Use your head for wisdom, not your mouth.

          • Jerry

            That sounds like good advice. Have you ever tried it?

      • George

        PMs are not tracked or taxable? They sure can be.

    • Drud

      One word: tangibles. Anything you can physically hold in your hand or walk upon (land). PM’s should be a part, because they have held value throughout civilization, but also because they are the only financial asset that is not someone else’s debt. BUT, I would say, more impaortant is food, water (water filters), energy supplies (gas, propane, batteries, inverters, solar panels, etc.), security (gunas and ammo for the most part) and or, course, land, if you can afford any. You may feel silly storing things like this in your basement, or buying a few acres of scrub brush out in the middle of nowhere, but is it really any sillier than tracking bits of data, stored on some computers somewhere, and calling it wealth, or your nestegg, or your retirement portfolio–not if you are willing to take a broad look at history.

    • john

      it s not your money. your name is not printed on it.

    • I hear a lot about purchase of precious metals and that they are not taxed, never lose their value, etc… I think diversifying and having a portfolio with some precious metals is a good idea but I hear too many people overstating their value. Precious metals can be taxed and indeed are today in the US. Substantially. There can be and already are considerable legal and practical restrictions on how much you can hold and sell in a year. Also, PM’s are only as valuable as what you can sell them for. The spot value for an ounce of gold today might be $1,200 but good look finding anyone within a 300 mi radius of my home in the US who will pay that. More likely $1,100. Or even less. We are approaching the end-game of the US and global economy. The only things of any value are what psychopaths stole from you that you worked hard for and they did not. Even in the end-game, psychopaths aren’t giving any of that up. If you lost it, you’ll never get it back and they’ll keep stealing. The only way to stop a psychopath is by killing it. Of gold (PM’s), gardens, (land), etc… the single most important asset you can have is a gun and the courage to use it against a psychopath who wants to take your life from you without having to work for it and for gratuitous entertainment. Some people want more than everyone else and they don’t care how they get it. You have to be willing to (after working very hard) protect it and be willing to kill for it. And there are some things worth killing for.

    • 1johnconnor1

      Nothing wrong with ‘investing’ in preps such as essentials you and your family need. If Shtf, you will be ready, if it doesn’t hit for a while, you will still save money by buying items at a relatively lower cost compared to their cost in the future. We know prices will continue to climb

    • Christian Man

      Buy some gold and silver but do it with cash so that no one can even guess what you spend it on. I said “some” don’t go overboard. Buy skills and some tangible goods. Buy a few basic weapons with enough ammunition. Find or prepare ways to take care of yourself and your family in “grid down” situations. I don’t always recommend property because if you can’t pay your property taxes they will take it from you. I do know if you buy tangible goods (like tools, ammunition, sewing thread, sewing needles, nail clippers, can openers, basically anything you could sell or barter but more importantly things you will need in the future. Some people have said liquor is a great choice to store wealth in, I assume that might be true since it preserves well (and people do have their vices.) If you have a great deal of money scaling that concept up to owning a dairy farm that owns it’s own feed sources might be a great way to preserve your income especially if the local population can become your customer base if everything becomes “local” … Owning a small iron ore mining operation would be another great example of owning a tangible asset (of a certain larger scale.) For most of us it will be water filters, ammunition, freeze-dried food (ie. 30yr storage), propane, tools, weapons, etc. I have some health issues which guarantee I will be cannon fodder if no medicine so I am able to stockpile 3-4 years of medicines. Then I will be expendable once they run out. We all have very specific things we need to concentrate on and not all of us will need/want the same things. Best of Luck to everyone, it IS coming.

  • Pic889

    BTW, the story in DailyMail about the greek Tax HQ having it’s electricity cut-off is sensationalist BS. Yes, electricity was cut off for a day because they share a meter with other appartments in the building, and the other appartments were late to make payments, not the Tax HQ. So, kudos to the economic collapse blog for not repeating this claim.

    The part quoted by the economic collapse blog is correct. They greek prime minister signed this week the equivalent of an executive order that orders every last ounce of liquidity from state museums, state universities, municipalities etc (save for liquidity intended to pay staff the next month) to be transfered to repos in Bank Of Greece.

    The take home message: Everyone bets on a new agreement in the next couple of *weeks*, not months. That’s how long liquidity lasts.

    • Christian Man

      Yes Pic889, the money was seized from all the cities, and municipal entities to pay the ruling class (the govt. workers) and pay for their pensions. These were monies raised from local tax bases meant to support the cost of keeping the infrastructure in good repair and to pay for local expenses but the money instead goes into the pocket of the ruling kleptocracy ( the bureaucrats who run things at the federal level.)

      • Pic889

        In Greece, many pension funds (the ones you have to contribute to by law) are government-run, even for private-sector workers (but not all of them, some of them have independence). One of the reasons the greek debt skyrocketed is because every time some pension fund run out of money, the government just propped it up.

        I am very intrigued to see what happens next. Every euro that could be transfered to repos has been transfered with that move. There aren’t any stashes left. And Greece has some hefty payments to do in June.

        And the current government is a mix of all kinds of leftist trends in coalition with a right-wing party. Good luck getting those to agree on anything. Anything that cuts “people’s pensions or salaries” or resembles lay-offs will make the left angry, and anything that cuts on the defense budget will make the right-wing roar.

      • socalbeachdude

        False. That money was seized to PAY THE CREDITORS OF GREECE in order to avoid default and the cut off of any and all credit to Greece. Hellloooooooo?

        • Christian Man

          No that money went to govt pensions and salaries, every news article I said reported that.

          • Christian Man

            typo. Where i said “said” meant to be “saw” …. Thanks.

          • socalbeachdude

            False. THAT MONEY WAS TAKEN FROM GOVERNMENT PENSIONS AND OTHER GOVERNMENT SPECIAL FUNDS AROUND GREECE IN GREEK BANKS AND MOVED TO THE CENTRAL BANKS FOR FUNDING TO PAY ITS LOAN OBLIGATIONS DUE IN EARLY MAY TO THE INSTITUTIONS (EC, ECB, AND IMF).

            Greece issued an order last weekend to force pension plans and other government agencies to send their funds to the Central Bank of Greece and that process was mostly completed by today in preparation for payments as due and required to the Institutions under the terms of the existing arrangements.

            GREECE WILL COMPLY AS IT MUST WITH THE INSTITUTIONS

            Greece isn’t preparing default – Tsipras dispels rumor

            Greece isn’t planning a debt default, contrary to reports in the Financial Times, says Prime Minister Alexis Tsipras.

            “Greece … is not preparing for any debt default and the same goes for its lenders. Negotiations are proceeding swiftly towards a mutually beneficial solution,” Prime Minister Tsipras’ office said in a statement, Reuters reported.

            Greece is scheduled to make several payments to the IMF in the next few months. On May 1 €203 million is due, another €770 million on May 12, and about another €1.6 billion in June in Special Drawing Rights (SDRs), an artificial currency created by the IMF that the institution uses to give out extra funds.

  • underaged

    Michael, I think you should try your hand at something new – how about wrting some non-fiction for a change? You might be good at it.

    • MichaelfromTheEconomicCollapse

      LOL – If you want me to change my mind about something, it is actually very easy. Just use logic and reason to show me that I am wrong.

      Michael

      • 1johnconnor1

        Michael I pray you remain strong and continue to inform everyone, despite the naysayers. Think how Noah was ridiculed, until it was too late. Thank you so much for your efforts.

    • Christian Man

      Hey “underaged” everything Michawl (and ohers like him) say is accurate (well the non-Alex Jones and Sorsca Faal types any way.) The facts he (and others) use for their articles all originate from respectable sources (Bllomberg, Marketwatch, the Fed. Reserve reports on various economic indicators, etc.) so look at the citations and then ask yourself why you don’t see this in the corporate media. If you are thinking clearly you will determine that the corporate media are propagandists and the disparate bits and pieces of news coming from many sources are in fact the truth. Don’t be a sheep (be a sheep dog.)

  • jsmith

    I see that some of you doubt and ridicule Michael as a doom and gloom writer, specially triple s. Yet I ask some of you that Michael does bring out statistics that cannot be denied. For one, how is it possible that one doesn’t get any interest on your savings, or that there are 48 million people on food stamps in this country, or that McDonald’s is closing down unproductive restaurants, or that General Electric lost 16 billion Dollars in the first quarter. Truly, these are signs that something is not quite right in the exceptional country… that we once were?

    • ronfrank

      I can answer one of your questions. Re: McDonalds. Their food just plain sucks. Years ago I used to buy their Big Macs. Twice recently I bought a Big Mac and it is about 70% the size that it used to be. Only Heaven knows what on earth that stuff they call meat is in those burgers? People are wising up. Never again for me.

      • danbax

        I saw in a costco here in wa state
        Australian goat carcass
        was in the meat section under restaurant supplies

      • Orange Jean

        Plus where I live their “service” is terrible. Possibly brought on by their recent “all Black” campaign in some areas. Or maybe not. They hired a guy here who had gotten fired from being a “barista” at Starbucks. I’m sure he got fired from there too… he couldn’t get an order right if his life depended on it. A totally dumb guy (and he’s white BTW), who was more than a bit of a snob while working at Starbucks.

        I only eat there if I’m desperate for something quick. I like Bojangle’s food a lot better (eh, yes I know not that good for me…. but they do a mean fried chicken, and at least if I buy it from them I won’t eat an entire chicken the way I would if I cooked it myself).

      • 1johnconnor1

        I remember a time when McDonald’s would advertise their burgers were made with 100% beef. No more!

    • ian

      um…yeah…Mc donalds is losing as Americans are becoming more aware of what goes into their bodies.

  • MichaelfromTheEconomicCollapse

    On Thursday evening, I was a guest on The Prophecy Hour with Pastor Dan Catlin. If you would like to listen to the broadcast, you can find it here…

    http://branch.podomatic.com/entry/2015-04-23T18_27_07-07_00

    Michael

    • GSOB

      “To approach Revelation with the view that its judgment scenes still loom before us is to misunderstand Revelation in particular and biblical eschatology in general. He who has an ear to hear, let him hear.”

      &

      “The Book of Revelation really does not speak to postmillennialism until its last three chapters. There, it holds forth the postmillennial hope of an expanding and dominating kingdom of Christ. The previous chapters, which clearly speak of chaos and devastation, and which influence today’s pessimistic eschatologies, were prophetic visions of imminent events in John’s day, and are therefore distant past events from our perspective today. “

      • socalbeachdude

        What does that irrelevant religious nonsense have to do with anything?

    • lizann34

      Michael, Just listened to this podcast and so very interesting. You really know the bible!!! Will be interesting to see if God will direct you to start doing podcasts, I know you would be great at it. I would listen daily!!!

      • lizann34

        your own podcast is what I meant

  • nancy

    Yesterday, MSM sources released data/propaganda that said 52% of all American citizens now believe the US economy is on the right track under Obama and the Democratic leadership and is improving rapidly with new jobs and good times galore, for all. Hard to believe but that is what MSM is saying these days.

    • Nemnor

      And you trust the major media outlets that only APPEAR like free speech? The major media outlets are there primarily to serve the interest of the ‘ruling class” (i.e. “the 1%”).

      Much of what you get from the media is to distract and deceive you.

    • Orange Jean

      I haven’t listened to MSM and similiar liberal “media” in years… except for a good laugh.

      I would say the same thing about some of the alternative “media” – especially “Before it’s News” (aka BIN) which I’ve decided to call “Before it’s Nonsense” … some of what they put on that website is so ridiculous it’s good to go look at because after looking at what they say… the real things that are happening don’t look anywhere near as bad.

      • Gay Veteran

        you mean the corporate media.
        because of Clinton 6 corporations control over 90% of the media

        • guest

          Are you still angry because bill didn’t leave a stain on your blue dress ?
          Get over it, move on.

          • Gay Veteran

            little blue dress? is your dad still wearing those?

  • It is the “calm before the storm”. Any day now there will be something that sends investors to the exits on stocks and it will be a blood bath since everyone is 100% in. Many of us have seen this coming, but unfortunately the “when” is impossible to pin point. Economic calamity is “baked in”. It’s just a mater of time. You can’t build financial security on mountains of debt. Lord have mercy on us all!

  • boyo

    Bullish!

  • LifeandLiberty

    Blah blah blah blah blah…. Nothing is going to happen until Obama leaves office. They will then Blame the collapse on the next President.

    • socalbeachdude

      Politics and the White House has nothing whatsoever to do with what is and will happen in the financial markets and economy.

      • LifeandLiberty

        Everything is political but I will be proven right..

        • socalbeachdude

          False. Economics and economies are very different things from politics and cannot be fixed with mere political notions at all.

  • Heisenberg

    I live and work in the Pittsburgh area. I don’t argue with the points made in the blog article. But I don’t see many old vehicles in my commute, when I occasionally

    • Orange Jean

      I make enough to pay my expenses but I have been getting REALLY alarmed at how high groceries have gone in the past month or two. It seems like my total grocery bill has almost doubled, with me eating pretty much the same as I have for years.

      Anyone else notice this?

      And that is enough to keep me limiting how often I eat out and also when I plan on replacing my paid-off and still running well vehicle (not until it becomes unreliable). I also hesitate about replacing clothing items, although I do have a plan to rotate some of my things by buying new T-shirts and giving the older ones to my local veteran’s place (like Goodwill, but run by veteran’s).

      I am getting older (64 now) and don’t feel I have enough in savings to retire, but may need to for medical reasons sometime in the next few years… so that colors what I do and do not do with the money I earn.

      • 1johnconnor1

        I agree, even Aldo’s is jacking up prices. When u think about percent increases, it’s alarming. Cashews used to cost 1.99 a few years back now 2.59 a can. Maraschino cherries that were 99 cents now cost 1.59. Wouldn’t be bad if wages would increase to accommodate, but I don’t see that happening ever.

      • socalbeachdude

        As to groceries, my grocery bills have NEVER BEEN LOWER and there are enormous bargains all over the place here in Southern California at the major grocery stores. I just bought 4 31 oz. containers of Yuban coffee yesterday for $5 each ($2;50 per pound) at Vons among an array of other superb bargains. I got 4 10 oz. cans of chicken breast for $2.00 each at Ralphs. In fact, my pantries and freezer are so filled with bargains that I don’t have any more room to put those bargains.

        As a percentage of a family’s budget, FOOD COSTS HAVE NEVER BEEN LOWER THAN THEY ARE NOW IN THE US and comprise LESS THAN 10% of a typical family’s budget versus the historical norm of around 25%.

    • 1johnconnor1

      Michaels presentation of facts can’t be denied, he provides citations for us all to review. What u may be seeing in Pittsburgh are people continuing to give the illusion that all is well. Maybe those new cars are being leased on credit , think sub prime loans. Maybe those people eating at restaurants are using credit cards because they don’t have cash.

      • Heisenberg

        Could be that the new F-150s and SUVs are leases or 7 year loans. I agree that it may all just be a house of cars that will eventually come down. I’ve been reading this and other blogs like this for several years and with the government and personal debts increasing I also wonder how long it can continue. It seems that those in the federal government and the banks seem to find a way to kick the can down the road when conditions look bad. How do they do it? What are they doing? How long can it go on?

  • sam

    That small slice of the people who get most of the income are storing it in the stock market.

    Demand is falling because the rest of us have very little disposable income.

    The number of dollars I get per hour hasn’t changed in 15 years. How much real inflation has there been during that time? Ask me why I’m driving a really old car.

    • Christian Man

      I now make the same amount of money I made in 1990. I am grateful for even still having a job.

    • socalbeachdude

      Money is certainly never “stored” in stock markets. All anyone gets when they purchase stock is a STOCK CERTIFICATE which is a share of ownership of a company and any money they paid for that goes to the party who sold that stock certificate. Stocks are only worth what somebody is willing to pay for them when you go to sell them and every prospectus clearly states that the RISK OF LOSS IN STOCKS IS 100% as there is no guarantee of promise of any value whatsoever in stocks, unlike bonds or bank accounts.

  • WK

    If the sky wasn’t about to fall in, this blog wouldn’t need to be here. There have been calls for this for some time, and yes there are disturbing metrics in the list of 11 cited above. All the Armageddon arguments suggest that all these bad things are going to happen without any countermeasures attempted by any government which is hopelessly naive. Yes there is weakness, but the sky is not falling in.

    • 1johnconnor1

      Not yet, it is being propped up by tptb for as long as possible, for whatever reason. Maybe their underground bunkers aren’t ready yet…

      • Dr.FeelGood

        Why isn’t the fact that we are going to be hit with MASSIVE INFLATION any day now because we’ve created a TON of money out of thin air over the last 7 years at 0%, the deficit is huge, QE is ending, inflation is high, interest rates are artificially low, people are still earning what they earned ~2000 in upper middle class when the dollar is half the value, etc. being mentioned? When that inflation hits, oh man…people should be worried about their liquid money, variable interest rates on debts, etc. compared to their inflation proof assets (e.g. a house). I am hedging my bets by taking out a 15 year 2.75% mortgage refi and not paying off the remainder off my house that has enormous equity in it already so that I can at least outpace that 2.75% when interest rates soar to keep up with inflation. Hope we get to see at least the pre-2007 7.5% 6-month CDs or more…it hyper-inflation hits, we’re all doomed, but at least I will have a deed to a shelter lol.

        • socalbeachdude

          There is FAR LESS THAN ZERO CHANCE OF ANY INFLATION AT ALL and what we are seeing – obviously – is the intensification of the GLOBAL DEFLATIONARY SPIRAL.

          In the case of the Federal Reserve not a single penny of QE funds ever left the Federal Reserve. All of those funds were deposited into the excess reserves accounts there of the banks from whom the Federal Reserve purchased securities and the entire $3.6 trillion amount has always remained parked there in those excess reserves accounts increasing only the MONETARY BASE and not the money supply.

          By the way, the Federal Reserve versins of QE totally ended 6 months ago on October 31, 2014.

          • Dr.FeelGood

            To say that that money will never make it into the money supply is extremely naive.

          • socalbeachdude

            Nope, especially when NONE OF THAT QE MONEY WAS EVER INTENDED TO ENTER THE MONEY SUPPLY AT ALL.

  • Orange Jean

    My take on #3… McDonald’s hasn’t kept up with the latest food fads!

    If they would offer: gluten free, vegan, or Paleo options all of a sudden they’d get record sales in those areas where a lot of young people who are suckering up to those “diets” live.

    • ian

      or it could be that people are just becoming more aware of real food and not the poison that mcdonalds serves. Mcdonalds stock might be faling, but Whole Foods is soaring.

      • socalbeachdude

        There is nothing “unhealthy” about the food at McDonald’s. It is just poor quality pig slop but just as nourishing as any other food out there.

    • socalbeachdude

      Very few people would even consider eating that kind of garbage and if McDonalds put that junk on their menu it would totally turn off nearly all of their customers who would never go back.

      The biggest issue facing McDonalds is EXTREMELY HIGH PRICES AND NO VALUE FOR THOSE PRICES. People want GOOD TASTY FOOD and McDonalds just isn’t offering that these days and hasn’t been offering that for years.

    • guest

      I think if they quit catering to black people and fumigated their buildings, then humans might again frequent their establishment.

  • Bert

    Some time ago I started a facebook group called Spaceship Earth Crew to play a game designing a perfect future for the human species. Interestingly enough people are simply not participating … seems they have either so much blind faith or feel so hopeless that they are imobalized…. we do need to change our global systems and correct the cause of the cyclic system collapses .. to do that eyes need to be opened and humanity must synchronize with the universe. Would it not be better to cometogether and do a controlled change over? Or at least make the global attempt?

    • Christian Man

      Only an idiot would use facebook.

  • df NJ

    Many people believe the Federal Reserve contracting the money supply between 1929 through 1934 by 2/3s caused the massive amounts of misery that was experience. Without a sufficient quantity of money for the exchange of goods and services massive suffering was the result. Why would the bankers reduce the money supply by 2/3s? Here’s a speech from 1936 Democratic convention.

    “An old English judge once said: ‘Necessitous men are not free men.’ Liberty requires opportunity to make a living – a living decent according to the standard of the time, a living which gives man not only enough to live by, but something to live for.

    For too many of us the political equality we once had won was meaningless in the face of economic inequality. A small group had concentrated into their own hands an almost complete control over other people’s property, other people’s money, other people’s labor – other people’s lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness.

    Against economic tyranny such as this, the American citizen could appeal only to the organized power of government.”

    • socalbeachdude

      The so-called “Great Depression was actually just a VERY MINOR AND SHORT-LIVED BLIP.

      The Great Depression itself was really nothing more than two separate periods of recession the first of which started in August 1929 two months before the stock market crash of 1929 and which lasted only until March 1933. Then there was a recovery which lasted 4 full years with positive growth in GDP until May 1937 when the economy dipped into another very short recession which only lasted until June 1938.

      This time around the Grand Global Depression is likely to last considerably longer and actually started in August 2007 and will be with us last least out through the end of 2020. The affects of the GGD are being masked by huge government deficits without which GDP would be decisively negative and by such programs as food stamps which are the modern equivalent of soup kitchens for 50 million Americans.

      • Jerry

        The Depression in the 1930’s was NOT A VERY MINOR BLIP. Next you will be saying that the almost 90% decline in the stock market during those years was just a minor correction. What a moron.

  • socalbeachdude

    The Federal Reserve cannot do anything about employment in the US and the employment issues are STRUCTURAL where American employees have priced themselves out of viability coupled with government regulations and taxes making it very undesirable in most cases for companies to hire anyone in the US.

    As to US unemployment, it is around 32% currently when properly and fully accounted for, but so what? Hopefully it will move very substantially higher as we move towards fulfilling the dreams of a truly Utopian LEISURE CLASS SOCIETY where nobody “works.”

    THE LATEST COMPLETE US UNEMPLOYMENT REPORT

    101,192,000 Americans eligible and of working age now not working (31.82%)

    The US has a population of about 318,000,000 people.

    Let’s do some math:

    318,000,000 Total People in America on which all percentages based

    -69,156,000 Americans NOT ELIGIBLE for Labor Force (21.75%)

    248,844,000 Total population ELIGIBLE for working in the US (78.25%)

    -93,175,000 Americans ELIGIBLE for Labor Force “Not Participating” (29.21%)

    – 8,017,000 Americans ELIGIBLE and “actively seeking employment” (02.52%)

    147,652,000 Americans CURRENTLY WORKING (46.95% of all Americans)

    170,348,000 Americans CURRENTLY NOT WORKING (53.57% of all Americans)

    The GRAND GLOBAL DEPRESSION started in August 2007 and has been intensifying ever since and is now rapidly intensifying. There is nothing whatsoever the Federal Reserve can do about that, but the good news is that it will likely come to and end after sufficient deflation occurs between now and around 2040.

    • Jerry

      socalbeachdude,
      Do you know who makes up the majority of those 93,175,000 Americans ELIGIBLE for Labor Force who are “Not Participating”, that you are calling “unemployed”?

      • socalbeachdude

        Huh? What comprises those 93,175,000 million Americans are a very diverse array of Americans.

        • Jerry

          No. At least half of the 93 million are full-time high school and college students, housewives and retired persons. The vast majority of them are not looking for a job because they do not want a job. Most of them are not out of work. Some of them never even had a job in their life. The majority of them are not really unemployed and should not be included in the unemployment number. Thus the real rate of unemployed workers is less than 20% and that’s if you count part-timers as unemployed. During the 1930’s Depression the unemployment rate got as high as 25%. Did they include housewives, retired people and students in that number. The answer is NO. The vast majority of them were men in the workforce who lost their job. So I have to ask you why do you want to count school students, housewives and retired people in your 32% unemployment number? Your 32% unemployment number is misleading and would make people think we are worse today than the 1930’s Depression when really we are not.

          • socalbeachdude

            False. The fact of the matter is that OVER 101 MILLION PEOPLE IN AMERICA ELIGIBLE FOR EMPLOYMENT ARE NOT EMPLOYED AND ARE INSTEAD LIVING OFF THEIR OWN ASSETS OR GOVERNMENT SUBSIDIES OR OTHER PEOPLE.

            Helloooooooooooooooooooo?

          • Jerry

            I already knew that. You did not answer my question.

            Helloooooooooooooooooooooo?

          • socalbeachdude

            I far more than answered your question. There are 69,156,000 Americans NOT ELIGIBLE for Labor Force (21.75%). There are NO EXACT BREAKDOWNS OF THE 93,175,000 Americans ELIGIBLE for Labor Force “Not Participating” (29.21%) but many of the people you asserted were in the latter group were already excluded in the former group.

          • Jerry

            No you have not answer my question. Some of those you are counting as unemployed are NOT AVAILABLE for full-time employment. They already have a full-time job taking care of a family or going to school full-time, These people were not included in the unemployment rate in the 1930’s and for the decades that followed and for good reason. So why are you now adding housewives, many of them who have children and little 16 year school girls as being in the ranks of the unemployed when no body else did in the past nor does today except may be a few fear mongers.

            Hellooooooooooooooooooooo?

          • df NJ

            The idea that millions of people are capable of participating in the workforce but are choosing not to doesn’t sound right. I know lots of people with great attitudes working their butts off and not getting anywhere. People are motivated by greed. But what difference does it make if no matter how hard you work you never get anyway. People have to have some hope for something worth living for. Right now the American dream is just a pile of debt no matter how hard you work for years and years.

          • Jerry

            You are doing the same thing that the government does. They say that the inflation rate is only 2% based on the way they calculate it but it is really higher than that based on how it was calculated in the past. The lower number fits their agenda. So too you do the same by saying that the unemployment rate is really 32% based on the way you calculate it which is really way higher than the correct way that it has been calculated for decades which no one had a problem with. But the higher number fits your agenda. Let me guess, you believe the old way was wrong. And that they should have counted house wives, many who had several children, and school students and some of the retired people as really being unemployed back in the 1930’s.

          • socalbeachdude

            There is NO INFLATION OF ANY SIGNIFICANCE AT ALL IN THE US AT THIS STAGE. What we are seeing is MAJOR DEFLATION as is exemplified by the plunging prices of nearly all commodities over the past 4 years since April 2011.

            Isolated instances of rising prices, particularly in education and medical services HAVE NOTHING TO OD WITH INFLATION BUT RATHER EVERYTHING TO DO WITH RAMPANT PRICE GOUGING which is an entirely separate and distinct issue from any broad general inflation.

            Only 147,652,000 Americans CURRENTLY WORKING in the US which is 46.95% of all 318,000,000 Americans.

            There are currently 170,348,000 Americans WHO ARE CURRENTLY NOT WORKING (53.57% of all Americans).

            As to unemployment the BLS (Bureau of Labor Statistics) has SIX METRICS FOR UNEMPLOYMENT WHICH THEY ALWAYS REPORT and those are U1, U2, U3, U4, U5, and U6. U6 most comprehensively measures unemployment and hows it presently at 13.2% and the U6 number was the most widely reported metric up through the Reagan years. These days the White House and the press almost always only report the U3 metric which is about half that at around 7%. You can see the OFFICIAL US GOVERNMENT BLS NUMBERS based on each of those unemployment metrics on a monthly basis

            There are other alternative metrics to calculate unemployment and the most prominent of those is the SGS metric used by ShadowStats which pegs current unemployment at around 23.4% and rising:

            There is no way to factually determine unemployment and underemployment with complete accuracy, obviously, as all reports are based on SAMPLING SURVEYS and EXTRAPOLATIONS from those surveys.

    • df NJ

      I think it has nothing to do with employees pricing themselves. People take work for any price they can get and you know that! The problem is the Chinese have pegged the Yuan 6 to 1 against the dollar. That means a CEO gets 6 Chinese workers for every 1 American worker. No one can compete against six workers! But don’t worry, as soon as the Yuan is allowed to float against the dollar ALL our CEO jobs will be outsourced.

      • socalbeachdude

        The peg of the US dollar to the Chinese renminbi (RMB ./ yuan) has nothing whatsoever to do with the labor rates in China.

  • socalbeachdude

    Doug Noland notes over on Credit Bubble Bulletin that “With Amazon this week up 18.5%, Microsoft 15.0%, Starbucks 8.9%, Lam Research 8.6% and Google 7.8% – and NASDAQ surpassing year-2000 highs (up 290% from 2009 lows!) – my thoughts returned to the forces underpinning the late-nineties Bubble period. The year 1998 was critical. It’s worth recalling that NASDAQ was up 28% y-t-d through July 20, 1998. The Bank index had surged 27%, with the S&P500 gaining 22% through mid-July. Markets were Bubbling in spite of unfolding global turmoil. To be sure, there are important parallels to the current backdrop.”

  • GetReal4U2

    ALL of these things needs to happen to bring in the “new world order” that the Anti Christ will lead…Amercia has turned it’s back on God and Israel and is about to be judged…the rapture of the true church (and yes – that’s a LOT of working people) is about to happen…EVERYTHING is happening just as the bible foretold…repent and escape the coming judgement that will literally bring hell on earth…

    • socalbeachdude

      What utter nonsense, dude.

    • df NJ

      I don’t know about the anti-Christ, but I can imagine all the currencies in the world collapsing at once and magically replaced by a UN world currency.

  • tom

    You guys are so far off the deep end, you now root for the economic collapse so you seem less crazy.

    • df NJ

      I also root for 20 percent pay increase in my wages. I also root for the purchasing power of my take home pay to increase. But the trend for the last 30 years makes me pessimistic. Nothing is going to stop it. What do you think is going ot happen? The Rothschilds are going to have a global debt jubilee because they have love for humanity in their hearts?

  • GSOB

    The New Creation/Jerusalem of Revelation 21-22 began in the first century, although it stretches out into eternity in its ultimate consummation.

  • greg aldridge

    lets jackhammer the un off American soil all they do is spread there
    hatred to America every year they come here read yassiar arafats
    speech to the un on 11 13 74 you will see why the un needs to go
    not just him many many others do the same thing they blame America for there problems lets have a real American foreign
    policy that will fulfill Americas destiny of greatness defund the un entirely LETS STOP FUNDING HATE FLOAT THE BULIDING INTO THE EAST RIVER EXPEL THE UN FROM AMERICAN SOIL ONCE AND FOR ALL GOD BLESS AMERICA

  • Mikie

    So what’s going to happen? What is the big calamity that awaits us? Someone explain it to me. I’m supposed to get ready for something but I don’t know what it is.

    • socalbeachdude

      The big calamity is a HUGE LIQUIDITY CRISIS and the crashing of asset values in equities markets.

      • df NJ

        I would add in about three days after the currency collapses, banks call in all the mortgages, banks close their doors, all the grocery stores would be empty. Then tanks in the streets. Riots and death. That kind of stuff.

        • socalbeachdude

          Crashes in the equities markets would AXIOMATICALLY SUBSTANTIALLY INCREASE THE VALUE OF THE US DOLLAR, not the other way around. Hellllooooooooo?

  • FortuneSeek3rz

    Financial “trouble” is not coming in the United States. The U.S. is the only economy is the world that is not only staying buoyant but advancing. We have a readily available source of cheap labor, an enterprising and innovate tech sector, a strong healthcare network, some of the best and brightest minds across multiple industries and a strengthening currency. If you live in the U.S.A. you are among the most privileged persons in the world.

    • socalbeachdude

      Those are absurdly false and ignorant assertions. The US economy is a CATASTROPHIC DISASTER and one of the world’s most vulnerable economies to the MASSIVE NOW OCCURRING LIQUIDITY CRISES and has the most aggregate debt of any country in the world with around $60 trillion in outstanding debt of the world’s about $200 trillion in outstanding debt. Hellllllllllloooooooooooooo?

      • FortuneSeek3rz

        Doomsday has been right around the corner since the inception of the country. Much money has been made off of doom and gloom predictions, yet the population of the earth keeps increasing and the U.S. is still the best place in the world to live. Namely Southern California.

        • socalbeachdude

          Many tens of trillions of that “money that was made” will be totally vaporizing dead ahead.

          • df NJ

            I agree, this is something that has never happened before in history. Nothing this big that crosses so many national boundaries.

      • df NJ

        700 trillion derivatives, trillions of debt worldwide, when the bubble bursts it’s going to be quite dramatic.

  • Christian Man

    I keep warning people about “real estate” if you don’t keep up with the property taxes they will take it. You don’t really own it even if you have a “Deed”. Pay Attention.

    • Dr.FeelGood

      My property taxes are 10k a year, and they can go up at most 2% a year. I think the 5k$ a month on my home that I can get per month for rent can outpace any other investment. A house is a commodity. It is a necessity of life. It will always have value.

      Gold, for example, has value that we place upon it based on scarcity. When the world goes to hell, people won’t be needing something that is a luxury good. The value is what we decide it is based on scarcity. If people are not able to meet the basic needs of their lives (food, shelter, water), gold would be the last thing on their minds. 95-98% of millionaires made their money in real estate for a reason. It’s very easy to make money in that market due to the fact that people will need to live somewhere.

      I know the state or the HOA can take away my house if I don’t follow the “rules” or pay my taxes/dues…I’ve seen people delinquent for 5 years on their property taxes and the state then begins to threaten to take the property. Same with the association. You have a contract with them, and it is very difficult for the HOA to take away your house (and they have more power than the state).

      You are bringing up a pointless fact for the discussion. You don’t really own your money in your bank account either….it can disappear any day…the FDIC could decide not to back all the accounts if every bank went under. What is the point of bringing up edge cases? The country could be taken over…yellowstone could blow…who cares? These are unrealistic edge cases.

  • Heinrich van Rooi

    I think we are very near a turning point for stocks. It could start the downside in the 2nd half of May 2015 with modest rebounds but ultimately it will head lower through the year. Stocks are in bubble shape with earnings projections lower. I don’t think the GDP of developed countries will do very well further on…The bull market is about to come to end. soon.and then financial pain will be here

    • df NJ

      Without rising wages the stock market will die. Stocks are valued on the future. There clearly isn’t any serious wage growth in our futures.

  • Jerry

    The Depression in the 1930’s was NOT A VERY MINOR BLIP. Next you will be saying that the almost 90% decline in the stock market during those years was just a minor correction. What a idiot.

    • socalbeachdude

      As I clearly and correctly stated, the so-called “Great Depression” in the 1930s was just TWO VERY SHORT TERM MINOR BLIPS of very little significance This time around the GRAND GLOBAL DEPRESSION WHICH STARTED IN AUGUST 2007 WILL BE VASTLY WORSE AND WILL INVOLVE HUNDREDS OF TRILLIONS OF DOLLARS as it continues to rapidly intensify..

      • Jerry

        Try telling that to the people who lived back then. Well so far this “Grand Global Depression” that you say began in 2007 has not been that bad compared to what people suffered in the 1930’s Depression.

        • socalbeachdude

          Many parts of the US were not affected at all by the so-called Great
          Depression including here in Beverly Hills, California where the economy
          was booming.

          The substantial slowdown in the US economy began in 1928 as the huge credit bubble blown during the 1920s began to burst. The crash in the real estate markets began in 1926 in Florida and was epic and rolled through most of the country up in to the 1930s. The stock market crash of 1929 was just one of the many events during that time period from 1926 through 1938 caused by the bursting of the 1920s massive credit bubble.

          The entire process of correcting the huge credit bubble only lasted about 8 years in total and the 4 period from 1934 to 1937was actually a vibrant time of growth for the US economy followed by a very short downturn in 1937-1938.

  • Heinrich van Rooi

    The bull market is soon to be dead and then this bubble is going to burst on financial markets coming May 2015 according to the CHART of the DOW. Get out of the markets while the getting is good because the turmoil is about to start modestly and quietly…

  • Orihuela

    Who is this god guy I keep reading about in the Comments? Is he some kind of economist, or business guy?

    • df NJ

      Based on human experiments, there is no amount of evil God will not tolerate in order to preserve our free-will.

  • df NJ

    The only way the World will avoid economic disaster is if worker’s wages double over the next five years. But that’s not going to happen. What is going to happen is deflation, then panic by the Federal Reserve. Once the Fed panics, they will do what they always do, create crazy amounts of paper money. And then that will result in massive hyperinflation like the World has never seen. Maybe we will see $50,000 per ounce gold. But if it becomes political maybe the President will decide to bring back greenback legal tender. But if they do that, the Rothschilds will probably start a nuclear war.

  • Paul Bryant

    Don’t believe it! People have been talking about the U.S. economy collapse for years. Recently, many authors have written books about the U.S. economy after the subprime crisis, and have made millions off the fear of others. Like others, I’ve heard seminars and read books and articles since the 1980s that the U.S. economy will experience a crash worse than the 1929 Great Depression. History reveals that the U.S. survived the Long Depression in the late 1800s, 1929 Great Depression, 1970s Energy Crisis, 1987 Black Monday, 1990s dotcom crash, and 2006+ Subprime Crisis. Through all these events, people have been “preaching” the collapse of the U.S. Economy. Yet, here we are without an economic collapse. It’s like people preaching that we are in the “last days” and Jesus will return “soon.” How many centuries have this been preached, or been preached since the 1st Great Religious Awakenings in America since the 1800s? Sure, we may go through another economic crisis, but I highly doubt it will collapse the economy.

  • Frank

    markets are up and the perception that our economy is doing better is completely false. This illusion is created by infusion of liquidity (fed.printing of money) and thus no/low interest rate. Our government needs us to believe everything is fine so that consumers keep spending. We are a consumption based economy. Unfortunately liquidity can’t last forever and in fact, at this point in time it is poisonous. Unfortunately the markets will collapse. The good news is that money people have in the markets is unearned and so they will lose something that they never should have gotten.

Rapture Verdict Ad1
Ready Made Resources 2015
New Self Defense Tool
High Blood Pressure?
Finca Bayano

Silver.com

Lifestraw
Economic Collapse Investing
Lifesilver
Panama Relocation Tours
The 1 Must Own Gold Stock
The Babylon Code
180x350
Credible Warning
Marzulli Gift Offer
Coach David
Solar Wholesale
Karatbars
ProphecyHour
JatoProducts-banner
Facebook Twitter More...