The Beginning Of The End
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14 Signs That The World Economy Is Getting Weaker

The United States is not the only one with massive economic problems right now.  The truth is that just about wherever you look around the globe things are getting even worse.  China is experiencing a substantial economic slowdown, and Japan has resorted to yet another round of money printing in an effort to keep the Japanese economy moving.  Unemployment in Europe continues to get even worse, and the riots this week in Spain and in Greece have been absolutely frightening at times.  In the United States there are a whole host of signs that another recession is approaching, and the number of American CEOs that say that they plan to eliminate jobs in the coming months is rapidly rising.  The world economy is more interconnected today than ever before, and that means that we are all in this together.  Just remember what happened back in 2008 and 2009.  The economic pain that started on Wall Street was felt in every corner of the planet.  So anyone that believes that the United States (or any other major nation for that matter) is going to escape the next wave of the economic crisis is simply not being realistic.  Why do you think central banks all over the world are in “panic mode” right now?  They are firing all of their ammunition and printing money like there is no tomorrow in an attempt to keep the system together.  Unfortunately, it is not going to work.

If the powers that be had an “easy button” that would quickly fix everything, they would have pressed it by now.  But despite all of their efforts things continue to unravel.  If you want to get an idea of where we are headed,  just look at what is already happening in Europe.   Unemployment has risen above 24 percent in Greece and above 25 percent in Spain.

Those two nations are on the “bleeding edge” of the next wave of economic problems.  Unemployment is rising almost everywhere else in Europe as well, and things are eventually going to get really bad in Asia and in North America too.

So hold on to your seat belts – it is going to be a bumpy ride.

The following are 14 signs from around the globe that the world economy is getting weaker….

#1 Things in China do not look good right now.  The Shanghai Composite index fell to its lowest point in over 3 years earlier this week.  Will the S&P 500 soon follow suit?

#2 The Bank of Japan has resorted to yet another round of money printing in a desperate attempt to try to bolster the faltering Japanese economy….

In Asia, the Bank of Japan has long been manufacturing money out of thin air. It has just announced an eighth round of money printing to prop up the ailing Japanese economy. The Bank of Japan is to purchase 10 trillion yen of bonds to add further liquidity into the financial system. Now it has 80 trillion yen of bonds in its portfolio, equivalent to 20 per cent of Japan’s gross domestic product.

#3 In Spain, violent demonstrations over the state of the Spanish economy just outside the national Parliament building in Madrid on Tuesday evening made headlines all over the globe.  You can view video of police brutally beating young Spanish protesters during those demonstrations right here.

#4 As unemployment hovers around the 25 percent mark, foraging through garbage bins for food has become so rampant in Spain that one city has actually started putting locks on supermarket garbage bins “as a public health precaution“.

#5 Despite all of the money printing that the ECB has been doing, the yield on 10 year Spanish bonds has risen back up to about 6 percent again.

#6 The economic protests in Greece are getting completely and totally out of control.  Just check out this description of the “Day of Rage” that took place in Greece earlier this week….

Police fired stun grenades and tear gas at protesters yesterday as tens of thousands poured into the streets of Athens as part of a nationwide strike to challenge a new round of austerity measures that are expected to cut wages, pensions and healthcare once again.

Dozens of youths, some masking their faces with helmets and T-shirts, hurled Molotov cocktails and rocks at police who fired back in an effort to scatter the angry crowds around the parliament building. More than 50,000 people are believed to have participated in the mass walk-out in Athens alone.

#7 The unemployment rate in France has risen for 16 months in a row and is now the highest that it has been in over a decade.

#8 As I wrote about recently, the number of unemployed workers in Italy has increased by more than 37 percent over the past year.

#9 New orders for durable goods in the United States fell by a whopping 13.2 percent in August.  That was the largest decline that we have seen since the middle of the last recession (January 2009).

#10 According to the Bureau of Economic Analysis, U.S. GDP only grew at a 1.3 percent annual rate during the second quarter of 2012 as opposed to the 1.7 percent annual rate previously reported.

#11 The U.S. Postal Service is about to experience its second financial default in just the past two months….

The U.S. Postal Service will default this week on a $5.6 billion congressionally mandated obligation to pre-fund retiree health benefits, marking the second time in two months the cash-strapped agency has done this.

#12 It looks like General Motors is on a path that will lead to bankruptcy (again).

#13 According to a recent survey conducted by State Street Global Advisors, 71 percent of “investors in a survey of 300 around the world, including the largest pension funds, asset managers and private banks, fear an imminent Lehman-like event.”

#14 According to a recent survey of American CEOs by Business Roundtable, the number of CEOs that plan to eliminate jobs has risen significantly from earlier this year….

The CEOs’ decline in confidence comes alongside a worsening employment outlook. Thirty-four percent of the 138 CEOs surveyed said in this quarter’s survey that they expected their companies to cut jobs in the next six months, compared to just 20 percent in the second quarter. Likewise, only 29 percent say they expect employment to grow in the next half year, down from 36 percent last quarter.

But the mainstream media in the United States would like us to believe that everything is getting better.

The mainstream media would like us to believe that QE3 is going to stimulate lots of new hiring all over America, and they are greatly celebrating the fact that the S&P 500 hit a five year high on Thursday.

Well, those on Wall Street should celebrate this monetary “sugar high” while they still can.  Of course QE3 was going to cause stock prices to rise in the short-term, but the reality of the matter is that QE3 is not going to do a thing to stop the financial markets from crashing when the time comes for them to crash.

Economies tend to flourish in a stable, predictable environment.  When you start recklessly printing money, it may help your economic numbers in the short-term, but it disrupts the stability of the system.

And once you have created a tremendous amount of instability, it is really, really hard to convince people that you can create stability once again.

When it comes to economics, confidence is one of the most important ingredients.  If people lose confidence in the system, it almost does not matter what else you do.

As I wrote about the other day, quantitative easing worked for the Weimar Republic for a little while, but in the end it resulted in total disaster.

It will also end in total disaster for us.

All over the globe financial authorities are playing all sorts of games in an attempt to keep the system functioning smoothly.  But these games are going to steadily undermine confidence in the system, and that is going to prove to be absolutely deadly.

Take advantage of this period of relative stability while you still can, because when it is gone it is not coming back.

  • john jackson

    The collapse is well underway and is going to accelerate. You can keep your head in the sand or educate yourself on ways to survive and thrive during these unprecedented events….

    http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=e6b01db8

  • mark

    Ha, they rounded up from 1.25 GDP to get 1.3 GDP in # 10. As the numbers come out each month, they seem to be lowered the next month when it is concidered old news. This is done on purpose to make Obama look better. Do you really trust the governments numbers?

    • 007

      So GDP is now 1.25%. GDP = production of goods and services less inflation. The government is also grossly underestimating inflation by at least 3%.Therefore, if you accept these facts you know the economy is contracting at a rate of 1.75% or more annually. We are already in recession.

  • Kevin2

    The Baltic Dry Index is a rough measure of international trade using shipping containers as a guide. It’s down 57% YTD. In and of itself that is a concern but when added to the rest of the data the ugly picture is all too clear.

    • Mondobeyondo

      Yep. I am not optimistic about the upcoming holiday season, based on the BDI. Apparently, the big department stores have an inside scoop or something because they are planning to hire tens of thousands of people. With a little luck, I may be able to get a job as a stocker for Target. Or Kohl’s, or Wal-Mart.

      • Mondobeyondo

        $8.00 an hour! Wooo-hoooooo! (Homer Simpson scream)
        Hey, it sure would beat $0.00 an hour!

        • Highspeedloafer

          Mondo, where do you live? My daughter is in school and has taken 2 part time jobs in the last month. She is easily getting 40 hrs. per week. Are you actively looking?

  • Darren

    What is the deal with gas prices? In three days oil prices have been falling and yet wholesale gas is way up. CNBC said it was a refinery fire in Canada but the gasoline supply and production were not affected. I have never seen prices so high for this time of the year and in just a few days prices at the pump are going to jump substantially. The Consumer Confidence Index jumped to a 7 month high according to CNBC, how can people be so confident about the economy with high gas prices, high unemployment and a national debt that continues to grow and will never be repaid?

    • TtT Engine

      Monopoly power and ample demand= OPEC Price Fixing. World Armaggedon is bringing the price down. Forget the University Economics 101 lie of supply and demand, PLEASE ! The sick and getting sicker part is the U.S. could be totally energy independent and All those jobs TO GO ALONG WITH THAT ENERGY INDEPENDENCE. Christi Fidelis !!

    • T-Bone

      As the fiat dollar becomes worthless we will see the petrodollar move gas prices higher due to are dollar becoming worthless.

    • Mondobeyondo

      Price of crude oil – down.
      Value of dollar compared to other currencies – way down.
      Price of gas in U.S. dollars – up.
      Price of everything else in U.S. dollars – up.
      Your paycheck – stagnant, or down.

      You are earning less, and getting much less in return for what you earn. Welcome to the wonderful world of inflation!
      That’s if you have a job to begin with.
      That’s pretty much it.

      Okay, okay – I hear the peanut gallery screaming. “We pay $8.00 a liter for petrol in Norway! So what are you talking about?!!” That’s because of government taxes and other subsidies though.

    • k

      oil companies are pricing gas however they want.

  • SMASH THE CONTROL MACHINE

    DAMN THIS IS THE MOST WATCHED PBS CHANNEL IN COLORADO WTH???http://www.youtube.com/watch?v=Ddz2mw2vaEg

    • Hero

      Building#7 was intentionally demolished if it had govt offices.

      Many Federal buildings contain sensitive information & they are designed to self-destruct in a crisis rather than to let it be in enemy hands.

      Mig25 that defected to Japan in the 70’s had explosives to protect sensitive electronics from falling in enemy hands. Japan had to hire US military advisors to remove them.

      Also, Hitler’s limousine had a bomb in the dashboard. He was ready to take his own life than than become a prisoner.

      Just my 2 cents, but double check me.

      hero

    • jaxon64

      I don’t want to believe but now I can no longer deny…..this video was the final straw to finish off my “cognitive dissonance”.

      I used to think those who believed this were just whacky fringe people however these are highly intelligent, tops in their field professionals who have undeniable evidence–we were lied to and the truth has been concealed by flimsy stories and excuses.

      Thanks–sort of–for posting this video. I can never view things the same again. It really was all about protecting the petrodollar wasn’t it? Now it seems that war with Iran is a foregone conclusion–false flag here we come…

  • K

    Excellent article. What is different? This time America can not ride to the rescue. With all that is going on, you would think this election might make a difference. My prediction, 90% of all incumbents, will be elected again. If it was not for the fact, so many innocent will be hurt. I would just sit back and say, this Country will get the Government it deserves.

    • Sam

      You make it sound as if there are candidates that, if elected could fix this mess. Unfortunately the system is structurally corrupt. Do you think it matters who gets elected? The result is the same no matter who gets voted in.

  • McKinley Morganfield

    The central bankers are doing the only thing they know how to do: monetize the debt of the big banksters and insolvent sovereigns. Of course this will not work. Its debt piled upon debt. One day, who knows when, the panic will start and all confidence in the global financial system will collapse. We are beginning to see this is true based upon withdrawals of cash from private accounts in Greece, Italy, Spain, and Portugal. Its take the money and run time in the EU zone.

    • Me

      Run where?

      Mars?

  • WarrenBuffet

    Nobody is replenishing inventory for Christmas, ships are all empty
    and the Baltic Dry Index is near 25 year lows at what would be the
    biggest time of the year for shipping.

  • Rodster

    There’s no doubt we are definitely heading towards an economic SHTF scenario.

  • http://www.surviving12-21-2012.blogspot.com doctor buzzsaw

    Prepare cause when the lights go out, they will not be coming back on any time soon… 10 years, 20 years maybe NEVER…
    When people get hungry they will do anything to eat, but when they see their children starving in front of there eyes thy will do insane things – anything to eat and feed their children. The pets, dogs and cats will go, the squirls, rabbets, deer all the wild animals will disappear then it will be the neighbors kids that will start to disappear.
    Theft, murder, rape and cannibalism on a GRAND scale, the likes of which the earth has NEVER seen, YES – (HELL ON EARTH IS COMING) – Get Ready!!!

    • Mattyboy

      It has happened before-read the Bible.

    • Who wants to Know?

      I totally agree. God help us. My psych teacher asked the class if it was ok to steal medicine if your wife was dying. The whole class said, “yes”. I was the only one who said, “no”. She said that the yes answer was the right one, which is what most people would do.

      • William

        Your teacher would be wrong because it assumed that stealing is the only solution, which logically could be to the world. However, someone of faith would be open to supernatural (or divine) intervention that could safe the person’s wife.

      • Me

        Moral reducto ad absurdum.

        Is it all right? What does that even mean anymore? It’s what people will DO. Your answer is correct, “no”, but it will never happen.

  • http://www.surviving12-21-2012.blogspot.com doctor buzzsaw

    HELL ON EARTH
    IS COMING
    Get Ready!

    • Nobody

      I know…I can’t wait!

  • Your Johnson

    The bet is this – we’ll be able to grow the economy (increasing tax revenue)and curtail governmental spending and the recession will dissipate. They – the world-wide governments – are biding their time right now by quantitative easing.

    I’m not sure the bet is a good one, but they are sure not willing to let the house of cards fall.

    There’s always a do-over. “Ok, everyone’s debt is no good, let’s start anew”!

    • Gen2000

      You mean jubilee time? If I were an investor I wouldn’t like that, it would break the world’s confidence in bussiness for decades. Investing would become a terrifying word. It will surely benefit de debtor but it will severely break the world’s economy, we are talking about forgiving trillions or quadrillions of dollars.

  • markthetruth

    The “PROBLEM IS”

    THERE IS NOT ENOUGH NATURAL RESOURCES LEFT ON THIS PLANET TO HAVE ANY GROWTH , LACK OF NECESSITIES FOOD,WATER ,AFFORDABLE SHELTER FOR THE POPULATION THAT IS HERE AND COMING.

    BUT IN THE MEDIA THERE IS PLENTY OF USELESS IPHONE’S TO EAT,DRINK ,AND LIVE IN.

    THE END OF THE WORLD AS WE KNOW IT IS GONE…

    the end..

    • Nexus789

      The thing people don’t realise with Apple stuff and other Internet based toys is that if the Internet stops they are useless. iPhones would become paper weights FudBook would go frombeing 90% to 100% irrelevant – no Twits, Twats or whatever they call them, imaginary followers would not follow. Then you would be down to really annoying things that crimp your like, no ability to make cash withdrawals, no food on shelves…got an iPhone who gives a f… at the that point.

    • Gen2000

      You mean jubilee time? If I were an investor I wouldn’t like that, it would break the world’s confidence in bussiness for decades. Investing would become a terrifying word. It will surely benefit de debtor but it will severely break the world’s economy, we are talking about forgiving trillions or quadrillions of dollars.

      • Gen2000

        Oops my comment was meant for the comment above this one.

  • 005

    (Gene Wilder) No matter how loud I may scream, do not, I repeat, do not open this door!!
    (Marty Feldman) Nice workin’ with ya!

    or as the cartoons used to say
    That’s All Folks!!!!

  • oldwiseman

    folks it is time to get your house in order.
    time to start stocking up on things that well
    provide for your family.

  • GSOB

    2 Peter 3:7

    … but the heavens that now are, and the earth, by the same word have been stored up for fire, being reserved against the day of judgment and destruction of ungodly men.

  • SmallerGovNow

    Michael, sad but great article that I feel is spot on. All the silver bullets are gone. Politicians have no will (and quite possibly no clue) to do what is necessary to right the ship. Democracy fails when the 50% can vote for ever bigger entitlements from the other 50%. And if it were just our country, that would be one thing, but it is world wide. Thanks for what you do, I enjoy your commentary and your web site…

  • Chris

    Forget about the humanity, earth and sun for once please…This game goes much beyond our solar system. Its intergalactic. As I have been saying, The intergalactic war has started two months back. Thats the biggest good news humanity has ever had in a million years. The war between the forces of darkness and force of light has begun for the control of this galaxy.

    Its assured, guaranteed that things will only get worse 101%..’cos we are in the middle of a galactic war..We would see economic, natural collapse all around us and we should be all be very happy..’cos finally we are coming out of the matrix created by the darkness. We will finally wake up from the sleep and see the real SKY.

    This being of darkness is an entity and he eats galaxies for a living to put it mildly. He has eaten us all and is in the process of digesting us..that is the reason, the sooner the destruction begins the better chance we have to remain as human beings, else he will convert us all to himself..a dark force…..this is just a analogy to a very very complicated being that surrounds us…

    For example, If you live in another galaxy and look at our milky way galaxy, you will just see complete darkness…total BLACK…Our galaxy was invisible to other civilizations for millions of years until now…

    Finally, know that, whatever good and bad happens around you…IT ABSOLUTELY MUST HAPPEN FOR THE SAKE OF GALAXY and millions of souls on it.

    • mabel

      how do you support your statement could u explain more about this ?

    • Me

      Eh what?

      The Star Trek TOS Space Amoeba???

  • Traffix

    Wow, eating kids??

  • karen sampson

    Yeah I agree Marketthetruth.. if only there was a get a life app for iphone and focus on actually getting something out of it. more mindlessness, more nothingness. keep fueling the breaking system.

  • Gary2

    watch this and vote for Obama—Wake the ************ up people!

    http://www.youtube.com/watch?feature=player_embedded&v=hDTT1yRNsFE

  • http://msn.com thisonewilldo

    Hello Hot DogS! – instead of giving PEOPLE REAL alcohol (BEWARE!!!) TPTNB ARE NOT GIVING US REAL ALCOHOL-
    THEY WILL NOT, THEY BE MO-FO’S! Substituted medicine-FOR alcohol that means that something terrible is going ON-WATCH-OUt
    !!! Drink responsibly and
    CAUTIOUSLY!!! TPTB our messing up, diluting, and tweaking, our booze substituted w/FDA approved …medicine…, NOT ALCOHOL !!!
    Drink in utmost moderation!!!

  • Mondobeyondo

    It is not looking good, and it is not going to get better any time soon. It’s possible I could be wrong, of course.

    Europe is spending itself into a deep, dark place. Greece and Spain are beyond broke, and the people of those two countries are beginning to feel the pain. Yep, I said BEGINNING to feel the pain. The U.S. has already spent itself into a deeper, darker place, and our politicians are determined to raise the national debt until this country finds itself stuck in the Eternal Inferno, with no hope of escape, ever. China won’t save us. China can’t even save themselves. Japan? They’ve been in a perpetual recession since the early 90’s. The Japanese can’t help us.

    So, who’s left? What country is the “last best hope for mankind”? It used to be the U.S. Right now I’d place my bets on Sweden. Maybe. Too bad none of us couldn’t have hitched a ride on that Curiosity rover when NASA launched it to Mars.

  • Nickelthrower

    Ya know, I once had a great collection of doom books from the ’60’s through the ’90’s all talking about why the end was finally here and what was going to happen. All of them, of course, were wrong as we’re still here.

    That the FED is doing things that I thought impossible and government debt at levels that are just inconceivable, means that we are in uncharted territory. Consequently, we have no real precedent to guide us because nothing this big has ever collapsed before.

    The Roman Empire went through far worse in the 3rd Century and was able to stumble along for another 200 years. That this can continue for another 25 years is something we should all consider.

    • William

      True, past empires and dynasties have lasted hundreds of years longer than our current.

      I have also picked up doomsayer books from the 70s and they often refer to their ‘recent events’ as being tipping points to collapse, yet today these prior ‘recent events’ are not event remembered. An example was some scandal in the Ford administration that some thought would lead to collapse in public confidence of gov’t worldwide. Now, no one even remembers.

  • ScoutMotto

    Hm. I can see getting a few more #10 cans for Christmas, along with some ammo.

  • the ragged trousered philanthropist

    Thirteen is an ominous number. Your thirteenth point is perhaps your most ominous statement.
    According to a recent survey conducted by State Street Global Advisors, 71 percent of “investors in a survey of 300 around the world, including the largest pension funds, asset managers and private banks, fear an imminent Lehman-like event.”
    If THEY fear such an event then we ought to be very aware too.
    You would need to be deaf, dumb and blind NOT to be aware.
    All the signs are there.
    Once again thanks for a great article.

  • chiller

    M E D I A = Making Everyone’s Daily Information Ambiguous…is the mouthpiece of the sinister minds who aspire to control us through their manipulative lies. Each and every outlet should become the target of all citizens who are sick and tired of hearing their coercive drivel. They should be disrupted in any way, shape or form to once and for all, stop the lies and wake the people up.

    • Mondobeyondo

      Hey, have you heard that Honey Boo-Boo is the latest reality TV star?!

  • Rufus T Firefly

    I met a woman yesterday who has a sister living in Greece. She said to forget what you hear on the news, it is much worse than what is being reported. Unemployment is at 50%.

  • David
    • http://yahoo.com richard swank

      YES, I READ THAT DAVID. THINK WERE GOING TO HAVE A BANK HOLIDAY REAL SOON??

  • Bone Idle

    Greece is a minnow. Spain is a whale.
    Spain is going down.

  • http://Economiccollapse End time servant

    The luciferians are in the so called drivers seat for now they long awaited goal to take every thing over is here and we the sheeple deserve it we gave up for sin and more material things we did not need so if you care anything about your soul I suggest you get going get on your knees now and beg and beg for forgiveness along with following his rules which also where taken out and replaced with just do as you want when you want to

    • DB200

      This is some rambling that an average person does not understand.

  • Paul76

    Michael, another “point” to add to your list: The Italian public sector unions are going on strike today (FRI) and taking to the streets of Rome to protest austerity! The only really surprising thing is that “they” have managed to keep the global economy on the rails for this long.

  • http://MoneyedPoliticians.net Jack Lohman

    People, it’s called “starve the beast.” The Fat Cats will come out of this okay, because THEY fund the campaigns. They have us battling each other, on the small issues, and are keeping the BIG issue (political cash) quiet.

  • Syrin

    A buddy sent me this gem this morning:

    The Food Stamp Program, administered by the U.S. Department of
    Agriculture, is proud to be distributing the greatest amount of free
    meals and food stamps ever, to 46 million people.

    Meanwhile, the National ParkService, administered by the U.S. Department of the Interior, asks us “PleaseDo Not Feed the Animals.” Their stated reason for the policy is because the animals will grow dependent on handouts and will not learn to take care of themselves.

    This ends today’s lesson.

  • http://www.prepper-resources.com PJ Prepper

    Thanks for consolidating all of the data on this Michael. It seems economically things are continuing to slide down hill all around the world. The violent protests in Spain and Greece have me wondering if that is a foreshadowing of things to come in the US. People will riot into the barricades when their benefits are continually cut, but there really is no other option than complete default…which is just as bad. Rock and a hard place with no way out.

    Like you have said I too suggest taking advantage of this relative “calm before the storm” and preparing for troubling times ahead.

    PJ

    Prepper-Resources.com

  • http://www.survive2balive.com GA

    Coming to a town near you!!! Prepare expeditiously!

  • Bryan

    there is still hope in Jesus Christ! he said take heart for i have overcome the world. Just ask Jesus to forgive you of your sin and repent just turn away and turn to God and he will heal you! HE PROMISES!!! For if you confess with your mouth that Jesus is Lord and believe in your heart God raised him from the dead YOU WILL BE SAVED! You can trust in man and it will fail but trusting in God who is faithful ALWAYS!!! will get you through! I URGE YOU!!!!!!! to start reading your Bible again start with the book of John, Romans, Jesus will soon be back to snatch his church from this world! read 1st thessolonians chapter 4 1 corinthians chapter 15 YOU HAVE HOPE!!!!!! JESUS DIED FOR YOU! he who knew no sin became sin for us that though him we may become the righteousness of God!! in NO WAY WILL I TURN AWAY ANYONE WHO COMES TO ME! you will find me when you seek after me with all you heart! He’s waiting…what’s keeping you from his Grace?

    • GSOB

      Hey Brother Bryan,

      Your question, ‘He’s waiting…what’s keeping you from his Grace?’ –

      Answer: SIN

    • Paul

      Over the top nonsense like this, that’s what.

      • SmallerGovNow

        Booooooo…..

  • Rocky Bleier

    Spanish cops hitting girls with their clubs is cowardly. Nothing but automatons.

  • The Claymobile.

    Michael, you wrote that the people of Greece were striking to protest a “new round of austerity measures”. Greece is broke. Somebody is going to have to sacrifice to get the country back to solvency. Why don’t the people understand this??? Second question. “Your Johnson” mentioned debt forgiveness . What would be wrong with a massive debt forgiveness here in America? Doesn’t the Old Testment say something about that!

    • William

      The austerity measure include tax hikes on essentials and less staff for essential public services.

  • Snake Pliskin

    Oh well bring it on i cant survive even when things are good I will do better when all things fail…

  • Al

    The more people think of weakness of economy the more it will happen…self-fulfilling prophesy.

    What is happening today is the result of what we have been thinking and deciding.

    • GSOB

      Wishful thinking Ai

      (How did you get that character in your handle?)

  • ALICE

    Don’t worry, be happy..

  • Hans

    Prep and maybe get some gold too. Violent strikes are paralyzing the platinum and gold mines in South Africa. This led to a Moody’s credit rating downgrade for South Africa.

  • Washington

    A website has published the names of 36 current and former politicians and ministers being audited or investigated by the Financial and Economic Crime Unit (SDOE) for financial irregularities and suspicious acquisition of wealth.

    http://www.athensnews.gr/portal/8/58355

  • A. S. Mathew

    The richest economy in the world, the U.S. economy is faced with more economic problems and setbacks. China, the 2nd largest is hit very seriously now. They closed the largest steel mill “Baosteel”
    117000 people lost their jobs. China with her largest ship building industry in the world is going to close many ship building factories. Also, closing many cement factories, have closed many aluminium factories already. The Eurozone is getting into deeper trouble every day. The raw materials exporting countries like Australia and Brazil are hit hard due to this world-wide economic meltdown. Massive lay off in the banking industry will be taking place very shortly in the U.S., then in the airline industry etc. This economic earthquake has put us all into an unpredictable weather zone in an
    open ground without finding any shelter to hide.

  • Washington

    Michigan Central Station (Urban Exploration)

    http://www.youtube.com/watch?v=4bLWMuFfQC0

  • http://EconomicCollapse Already Gone

    Oh Well! All the more reason to step up my prepping even more!

  • Mustard Seeds

    Don’t you find it odd….

    even though practically every country is beyond bankrupt, miraculously, only one country at a time “collapses”?

    First Iceland, then Greece, and now Spain. The collapse happens so precisely, so neatly, just one domino at a time.

    How is that possible?

    It’s not….unless it is designed that way.

  • this guy

    Hey Michael,
    could you give your view on the new advancements in the Middle East?(Or could you write an entire article? An articel on it would be awesome.) Thanks:)

    • Michael

      What in particular would you like me to address? I am not sure I understand the question.

      I do believe that war is coming in the Middle East, but probably not before the election.

      Michael

      • this guy

        The possibilities of nuclear war and the Israel and Iran conflicts and how could effect us on an international level. I’ve recently read several articles saying things along the lines of “Iranian general predicts nuclear war” and also “Iranian uranium purification storages moved deep into underground bunkers”. I just don’t really know if anything I’ve been reading has any validity to it and you always seem to write in an unbiased fashion, so for a less obscure questing; do you think we are on the verge of WW3 in the middle east and how do you think the U.S will respond seeing as how we have a vested interest in the middle east due to oil?

      • Mondobeyondo

        There is absolutely no doubt there will be a war in the Middle East. 100 percent certainty.

        The only doubt is how, when, and where it will happen. Don’t know how, when and where that will happen, but we’ll soon find out!

  • Irritable

    Re: “The Roman Empire went through far worse in the 3rd Century and was able to stumble along for another 200 years. That this can continue for another 25 years is something we should all consider.”

    I don’t think most people realise that back in the old days of the Roman Empire, civilisation and infrastructure was not held together by so many different “things.” What things? Thinks about it. Energy sources for example. Water plants and treated water. Oil. Fuel. Roads. Cars. Trains. Subways. Etc. Modern medicine. Hospitals. Laptops. PCs. All electronic media and means of communication.

    You think life will just “go on” I mean, seriously? A lot of people are going to DIE if the things that hold our societies apart break down or are even limited a little. Just imagine for example how many people would be affected if medicine, treatment, and hospital rooms did not exist or became severely limited.

    Is there any critical thinking that actually goes on here? Sorry if I sound angry, I just don’t understand how things will just “go on.” What if your energy sources went out tonight for example? If this happened in a cold environment as another example, again, lots of people are going to die, especially the elderly, sick, and very young.

    I get impatient sometimes how people don’t THINK!

    • SmallerGovNow

      Agree….

  • TNT

    Jesus is the only answer.
    Hell is a place without Christ.
    Look at the mess this planet is in.
    Its not going to get any better.

    • Mondobeyondo

      Ummm… Obama is gaining ground in Ohio and Florida.

      But I do agree, Romney is going to win. If I am wrong, it won’t be the first time…

    • Tony

      stop doom mongering

  • Irritable

    Re: “First Iceland, then Greece, and now Spain. The collapse happens so precisely, so neatly, just one domino at a time.”

    Maybe, because it was planned? I can think of no other reason for this. It’s all too neat and orderly, even if it appears to be chaotic, it’s not.

    I truly believe the end times are coming, and this is coming from a very rational and logical person.

    • GSOB

      Irritable,

      God is in control

  • Irritable

    Re: “With a little luck, I may be able to get a job as a stocker for Target. Or Kohl’s, or Wal-Mart.”

    Yes, just remember that those jobs are usually part-time, usually ranging from twenty to thirty hours maximum, and then what after that? You won’t be working long enough or earning enough to qualify for any unemployment. Everything is temporary or just for the holidays.

    I’m astounded by how parents aren’t even preparing their own children for what is coming. These are the same kids who can’t find much work available or have to resort to competing with semi-retired people for the jobs mentioned above. Where I live (not the USA) I see this all the time, the Boomers are still working and are collecting the equivalent of social security meanwhile.

    I keep telling my husband, HOW the HECK can this be going on? The young need to work, the young are the future. Without letting the young lead the way there is nothing for anybody! And here I thought we Gen Xers and generations after were the ones who got screwed. No, I am sorry to say, it’s the young kids, teens and those in their twenties who right now are the ones paying the most for what is happening. At least I got to enjoy my twenties and thirties somewhat. It’s the young kids who I feel the most sorry for.

    And if older people had any common sense, they’d realise they cannot keep stealing from the young and forcing them to remain unemployed or severely underemployed. Don’t these older people GET IT??? You cannot have a future where the young are not getting ahead in any way, shape, or form.

    • Chris

      Just a guess but i’d say you must live in the UK!

    • Mondobeyondo

      Those jobs are good for short term economic relief. But try paying the mortgage and feeding your family on the wages they provide.

    • William

      Sadly, I can’t get local handymen to call me back to do work around my house. There’s many ways for people to make money with just basic skills, which I have too often found missing in people who expect to receive money from me.

      • paul

        What do you need done, and where are you located?

  • paul

    Well, this crisis can’t be solved without increasing wages and salaries, especially the lowest wages.

    Low wages was the reason of this crisis in the first place.

  • Fabiano

    One thing I want to tell you guys.

    Jesus our Lord is coming back.

    • Brian

      Thanks for the heads up, but we’ve been hearing that for two thousand years now.

  • Rodster
  • Louise in MO

    It is beyond belief that there are Americans who continue to support Barack Obama. Not only has he failed miserably with his economic policies, the past two weeks has shown how weak his foreign policy has been.

    The Middle East is on fire and he goes to Las Vegas for a fund raiser!! If you haven’t paid attention to the ensuing coverup that he and his cohorts took part in, then you are definately Unengaged and uninformed.

    So, while I think a financial collapse is coming and will be a disaster, it pales in comparison to a Nuclear World War. There is NO preparation that you can do to protect or save yourself or your family!

    It has become increasingly difficult for me to believe that this has not been part of Obama’s plan all along. It’s that or he is the dumbest individual to ever sit in the Oval Office!

    • Gary2

      regardless of what you want, Obama is going to win.

      • Mondobeyondo

        Romney is going to win.

        Not that it actually matters, of course…

      • Rodster

        That’s an utterly sad fact of reality and shows what a loser nation we have been turned into by our politicians.

      • Louise in MO

        Gary 2

        I wouldn’t count on it!

        However, should Obama be re-elected, you and those who have the same ideology will deserve just exactly what you get. The problem is that the rest of us will not get what we’ve worked for all our lives, and it wasn’t socialism.

        I refer back to the economy not being the only pressig issue on the table this election. It won’t matter if you have a hideout in the country and years of food and water. When war in the Middle East turns nuclear your provisions won’t matter at all!

        When it comes to foreign policy, Obama is so out of touch with the truth. He has this “can’t we all get along” philosophy.

        NO, we can’t all get along! Jihadists DON”T and WONT get along with ANYONE other than those who follow their “kill the infidels” and “wipe out the zionists off the face of the map” ideology.

        So, Gary 2, you need to get your nose out of the Marxist manuals and start thinking about the fact that if they succeed, there won’t be a place for socialism to exist!

        • SmallerGovNow

          Spot on Louise, well put…

      • DB200

        Gary2 and Mondo,
        regardless whom of you is right, the people in the streets lose. That is for sure.

      • DB200
  • SMASH THE CONTROL MACHINE

    I WISH I DINT HAVE TO SEND THE STATE OF KANSAS 7.3 PERCENT OF SALES WHEN THE BIG BOYS DONT!!
    NEW YORK (CNNMoney) — Attention Amazon shoppers: Be prepared to pay more when you purchase goods, depending on where you live.
    The online retail giant will start charging sales tax in eight additional states in coming years, starting with California and Pennsylvania in September, as it puts down physical roots in more places. Amazon already collects sales tax in six states.

    That means many customers will have to dig a little deeper into their pockets when buying on the Internet, which some people see as a refuge from sales taxes.
    California residents, for instance, might have to pay as much as $9.75 in additional levies on a $100 purchase, depending on where they live in the state. Customers in Philadelphia, meanwhile, would find an additional $8 tax on their bill.
    Collecting sales taxes is a turnaround for Amazon (AMZN, Fortune 500), which had long fought states’ attempts to force e-tailers to deal with such levies. States estimate they lose $23 billion in annual sales taxes, some $11.5 billion of it from online purchases, according to the National Conference of State Legislatures.
    Brick-and-mortar retailers have also pushed hard to have Amazon and other web merchants collect sales taxes, which the physical stores say level the playing field.
    Amazon instead sought to have Congress settle the issue. It is backing the Marketplace Fairness Act, which would allow states to collect sales tax from out-of-state businesses.
    “Amazon believes the sales tax issue needs to be resolved at the federal level and we’re actively working with the states, retailers and Congress to get federal legislation passed,” said Scott Stanzel, an Amazon spokesman.
    Other online merchants, however, oppose the legislation. The consortium, called NetChoice, includes Yahoo (YHOO, Fortune 500), AOL (AOL), Facebook (FB), Oracle (ORCL, Fortune 500), Overstock.com (OSTK), NewsCorp (NWS), IAC (IACI), Expedia (EXPE) and eBay (EBAY, Fortune 500).
    Related: Who’s who in mobile payments
    Amazon is also expanding its physical presence across the United States, building warehouses and distribution centers. The company is looking to offer same-day delivery to more customers, according to a report in the Financial Times. Amazon declined to comment on the matter.
    In exchange for bringing thousands of jobs to various states, the company is negotiating delays in collecting sales tax in those locations unless federal legislation is enacted sooner.
    California, for instance, agreed last fall to push back the requirement that Amazon collect tax until Sept. 15. In exchange, the company agreed to create at least 10,000 full-time jobs and hire 25,000 seasonal employees in the Golden State by the end of 2015.

    Similar deals exist around the country.
    In New Jersey, Amazon will build two distribution centers — hiring more than 1,500 full-time employees and thousands of temporary and construction workers — in exchange for not collecting sales tax until July 2013.
    Tennessee, meanwhile, will receive $350 million in capital investment and see 3,500 full-time jobs created. Amazon will not begin to collect sales taxes there until January 2014.
    And Amazon just began collecting sales taxes in Texas this month, settling a spat that began in 2010 when the state sent Amazon a bill for $269 million in uncollected taxes, including interest and penalties.
    The company will also create at least 2,500 jobs in Texas over the next four years.IT DONT SEEM FAIR I GIVE THE STATE OF KANSAS 2000 A MONTH IN TAXES FROM A LITTLE CAFE AND AMAZON AND OTHERS DONT FROM ITS SALES OF MILLION OR BILLIONS!!IT DONT SEEM LIKE A LEVEL PLAYING FIELD. OH WAIT I GOT A LETTER. ITS THE STATE OF KANSAS VOLUNTARY UNEMPLOYMENT INS TOO!! WTF ???I DONT WANT TO VOLUNTEER MORE MONEY TO YOU!YEAH START A SMALL BUSINESS IT AINT EASY!!

    • paul

      In China you have to pay sales tax for everything you buy. Even if bought abroad.

      When companies want to pay their workers, they have to pay income tax.
      When they want to pay foreign workers, they can only transfer the money abroad after having paid that income tax.

      Usually there are restrictions in China on buying foreign currency and transferring that abroad. So profit can’t be easily transferred. Some companies therefore “buy consulting services” from their head office. Since that service benefits the company in China just the same way as if the consultant would work in China, income tax has to be paid for that consultancy fee (hidden profit).

      Chinese do not have foreign head offices. They carry the money abroad in suitcases, and then reinvest it as “Foreign Direct Investment”.

      The Hong Kong property market is another way of laundering money. The mainlanders buy Hong Kong property like crazy. Prices and rents shoot through the roof. Expats can’t afford to pay the rent (>US$60/sqm) anymore and will need to leave.

      Hong Kong people do not have the means anyway and still live with their parents.

      • Tony

        hong kong people are mean to me

  • Mondobeyondo

    Umm…

    One of my former girlfriends was named Holly. She laughed about Bible verses, etc., and whenever I referred to the Holy Bible, she referred to it as the “Holly Babble”.
    Needless to say, we are no longer together.

  • paul

    Ever heard of internships?

    Full time, 6-9 months.

    “We can’t give you a job and we can’t pay you but you will gain valuable experience.”

    food?, accomodation?, transport? That’s your problem.

    When I asked Royal Mail how to get to their parcel sorting center for that Christmas job, they told me: “That’s not our problem.”

    In the end it was, because people didn’t show up. So they had a shuttle bus from city center, but they didn’t tell, and the morning driver didn’t know the time for the evening bus.
    It made national news , so this year Royal Mail promised not to outsource parcel sorting for Christmas.

  • paul
  • http://dateolicious.com Ben

    These are indeed scary times we are living in.

  • Washington
  • Chained

    Just another sign we’re on the cusp of Armageddon.

  • DB200

    #9 New orders for durable goods in the United States fell by a whopping 13.2 percent in August.

    What I see the past half year is people trading down when they need a new car. Best example is a neighbour whose Audi Q5 lease term expired. He now leases a Hyundai i40 station. Such a car costs half compared to the Audi.

    Is this taken into account in the statistics?

    The following sentence from the article is remarkable and hints at fiddling with the numbers:

    “Orders for July were revised down to show a 3.3 percent increase instead of the previously reported 4.1 percent gain.”

  • Damn Beltran

    AGENDA 21. The Rothschilds want to implement their WORLD GOVERNANCE or NEW WORLD ORDER…

  • rich

    I wanted to know what will happen if this crisis continues, is it the one world government?

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