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20 Signs That The Global Economic Crisis Is Starting To Catch Fire

Lighting A Match - Photo by Sebastian RitterIf you have been waiting for the “global economic crisis” to begin, just open up your eyes and look around.  I know that most Americans tend to ignore what happens in the rest of the world because they consider it to be “irrelevant” to their daily lives, but the truth is that the massive economic problems that are currently sweeping across Europe, Asia and South America are going to be affecting all of us here in the U.S. very soon.  Sadly, most of the big news organizations in this country seem to be more concerned about the fate of Justin Bieber’s wax statue in Times Square than about the horrible financial nightmare that is gripping emerging markets all over the planet.  After a brief period of relative calm, we are beginning to see signs of global financial instability that are unlike anything that we have witnessed since the financial crisis of 2008.  As you will see below, the problems are not just isolated to a few countries.  This is truly a global phenomenon.

Over the past few years, the Federal Reserve and other global central banks have inflated an unprecedented financial bubble with their reckless money printing.  Much of this “hot money” poured into emerging markets all over the world.  But now that the Federal Reserve has begun “tapering” quantitative easing, investors are taking this as a sign that the party is ending.  Money is being pulled out of emerging markets all over the globe at a staggering pace and this is creating a tremendous amount of financial instability.  In addition, the economic problems that have been steadily growing over the past few years in established economies throughout Europe and Asia just continue to escalate.  The following are 20 signs that the global economic crisis is starting to catch fire…

#1 The unemployment rate in Greece has hit a brand new record high of 28 percent.

#2 The youth unemployment rate in Greece has hit a brand new record high of 64.1 percent.

#3 The percentage of bad loans in Italy is at an all-time record high.

#4 Italian industrial output declined again in December, and the Italian government is on the verge of collapse.

#5 The number of jobseekers in France has risen for 30 of the last 32 months, and at this point it has climbed to a new all-time record high.

#6 The total number of business failures in France in 2013 was even higher than in any year during the last financial crisis.

#7 It is being projected that housing prices in Spain will fall another 10 to 15 percent as their economic depression deepens.

#8 The economic and political turmoil in Turkey is spinning out of control.  The government has resorted to blasting protesters with pepper spray and water cannons in a desperate attempt to restore order.

#9 It is being estimated that the inflation rate in Argentina is now over 40 percent, and the peso is absolutely collapsing.

#10 Gangs of armed bandits are roaming the streets in Venezuela as the economic chaos in that troubled nation continues to escalate.

#11 China appears to be very serious about deleveraging.  The deflationary effects of this are going to be felt all over the planet. The following is an excerpt from Ambrose Evans-Pritchard’s recent article entitled “World asleep as China tightens deflationary vice“…

China’s Xi Jinping has cast the die. After weighing up the unappetising choice before him for a year, he has picked the lesser of two poisons.

The balance of evidence is that most powerful Chinese leader since Mao Zedong aims to prick China’s $24 trillion credit bubble early in his 10-year term, rather than putting off the day of reckoning for yet another cycle.

This may be well-advised for China, but the rest of the world seems remarkably nonchalant over the implications.

#12 There was a significant debt default by a coal company in China last Friday

A high-yield investment product backed by a loan to a debt-ridden coal company failed to repay investors when it matured last Friday, state media reported on Wednesday, in the latest sign of financial stress in China’s shadow bank sector.

#13 Japan’s Nikkei stock index has already fallen by 14 percent so far in 2014.  That is a massive decline in just a month and a half.

#14 Ukraine continues to fall apart financially

The worsening political and economic circumstances in Ukraine has prompted the Fitch Ratings agency to downgrade Ukrainian debt from B to a pre–default level CCC. This is lower than Greece, and Fitch warns of future financial instability.

#15 The unemployment rate in Australia has risen to the highest level in more than 10 years.

#16 The central bank of India is in a panic over the way that Federal Reserve tapering is effecting their financial system.

#17 The effects of Federal Reserve tapering are also being felt in Thailand

In the wake of the US Federal Reserve tapering, emerging economies with deteriorating macroeconomic figures or visible political instability are being punished by skittish markets. Thailand is drifting towards both these tendencies.

#18 One of Ghana’s most prominent economists says that the economy of Ghana will crash by June if something dramatic is not done.

#19 Yet another banker has mysteriously died during the prime years of his life.  That makes five “suspicious banker deaths” in just the past two weeks alone.

#20 The behavior of the U.S. stock market continues to parallel the behavior of the U.S. stock market in 1929.

Yes, things don’t look good right now, but it is important to keep in mind that this is just the beginning.

This is just the leading edge of the next great financial storm.

The next two years (2014 and 2015) are going to represent a major “turning point” for the global economy.  By the end of 2015, things are going to look far different than they do today.

None of the problems that caused the last financial crisis have been fixed.  Global debt levels have grown by 30 percent since the last financial crisis, and the too big to fail banks in the United States are 37 percent larger than they were back then and their behavior has become even more reckless than before.

As a result, we are going to get to go through another “2008-style crisis”, but I believe that this next wave is going to be even worse than the previous one.

So hold on tight and get ready.  We are going to be in for quite a bumpy ride.

Lighting A Match - Photo by Sebastian Ritter

  • Libsare Ajoke

    21. gary turns into a conservative

  • JP

    I have been researching the economy for about two years. I have the same problem when i try to tell people about the coming problems they just say ” i’d rather not know thanks”. I’ve even been met with abuse!! So now i’m only interested in my immediate family and stuff everyone else.

  • AB

    Whenever I speak about the economy, friends and family, just don’t care and don’t take me seriously. I have just stopped talking now. Makes no sense in trying to put sense in those who refuse to believe.

  • FirstGarden

    Why the exclusive focus on Americans?

    You probably don’t mean it, but your post comes across as condescending.

    • Canadian

      Thanks for giving me the benefit of the doubt, FirstGuardian. In no way did I intend to be condescending of Americans. I can see where it would have been understood to have been. That said, the point was specific to the lack of awareness of 1 in 4 Americans re. our orbit of the sun and how that too may translate into a lack of awareness of other things obvious – such as the economic calamity facing the US and consequently, the world. If it’s any consolation, most Canadians are not aware of the economic crisis we are presently in and what the inevitable outcome is going to mean for all of us.

      • FirstGarden

        I guess the rule of thumb would be – Americans can knock Americans; Canadians can knock Canadians. :-)

        If the twain should mix, a certain national twitch doth trigger. :-)

        Otherwise, t’would be very hard to undermine such a long-lived friendship betwixt two nations, with the longest unguarded border in the world.

        Oh, but the times they are a-changing, aye?

        Gotta watch who’s slippin through from faraway lands.

        • Canadian

          American government policies and globalist (corporate, financial) have global consequences. Of late, many of the consequences have been harmful, both foreign and domestic. Canada stood-up to the UN, gave-up our seat at the Security Council, we stood up to Russia and China when it mattered. We’ve condemned Afghanistan on women’s rights; are regarded by Israel’s prime minister as their strongest supporter (right, wrong or indifferent), wherever possible, enacted policies and legislation to protect Canada from the global effects of Obama’s QE and there is a growing awareness in this country that Islam is a threat to national security and we’re doing something about it. We are closing loopholes in our immigration policy. We’ve got the back of the US Constitutionalists and are watching very closely the decisions that are being made both by US Congress and Obama (unilaterally). Obama is not a friend of Canada and never was.

          • FirstGarden

            Any U-haul stations up that way?

          • Canadian

            Yep. In just about every city and town.

          • FirstGarden

            Good, cuz we got a few things to bring along.

  • Bubba Johnson

    Prep of the day
    Always keep a loaf of white and wheat bread and some milk in the freezer. Rotate the stock and you will never worry when the next weather storm comes.

  • Libsare Ajoke

    most canadian’s don’t know their hockey teams suck

    • Canadian

      Where did that come from? Ahhh…you must have been one of the 25% that just found out the earth revolves around the sun. Well, good response. You’re right on target.

    • Canadian

      So, do you watch hockey much? How about those Olympic Canadians? Sure suck, eh?

  • Libsare Ajoke

    this site and zerohedge and a bunch of others are run by the same people, they are making a killing selling advertising and posting these non sense articles. they are no different than the regular national media who whores for each other

    • Libsare Ajoke

      and know, let me go to zerohedge

  • Eduardoe

    Si es por mi, húndanse.

  • jagget

    I do believe a lot of these problems are exaggerated. It is not like for example Greece had a great labor market before the crisis, the big difference is people was not aware of it back then. Now media, economy and normal people are fully aware of this. It is not these kind of things that creates crises. It is usually something not known to normal people (like a bolt of lightning from a blue sky etc). The poor situation of S. Europe is of course not good, but it won’t cause no crises. All that happened is that Europe has transformed and should in many cases be considered a nation instead of separate ones. In Sweden the northern parts of population are less productive and usually considered a cost. Evens up with more productive southern part. Same is happening in Europe, but opposite. As long as a couple of strong counterparts can pay up for the less efficient ones it doesn’t really matter who is doing what.

    Argentine is pretty much an isolated economy due to their politics. When did Ghana become a major player in world finance? South Africa and Nigeria might be quite important but we’re still talking about markets so small they won’t really affect US,China,Japan,Europe. Ukraine and Turkey are mostly having political problems, not economical. List goes on.

    I do not believe a crash will not happen, but I do believe that most of the “20 signs” mentioned here are quite weak and non-important in our race towards a Mad Max-styled dystopia.

    • http://PeterPalms.com/banking Peter Palms

      The Founders of our Nation expressed deep concern about the dangers of Government. They provided for a Miltia to protect them from Government. Our Militia is not active. Instead the Government is arming the DHS, The Post Office the private police departments. It would be useful for you to start finding out what is really going on

  • http://PeterPalms.com/banking Peter Palms

    The previous collapses of the
    first three Central banks of the United States.

    The story of the Bank of North
    America, the nation’s first central bank, which was formed even before the Constitution was drafted; the story of the First Bank of the United States, the nation’s second central bank, which was formed in 1791; the massive inflation
    caused by both banks; the causes of their demise.

    The Bank of North America existed from 1781 and collapsed in 1783

    The Bank of North America was modeled closely after the Bank of England. Following the practice of fractional reserve, it was allowed to issue
    paper promissory notes in excess of actual deposits, but, since some gold and silver had to be held in the vault.
    The intended result was that the Bank’s paper would be accepted as money, which
    for a while, it was.
    Furthermore, the Bank was made the official deposi­tory for all federal funds and it almost immediately lent $1.2 mil­lion to the government, much of which was created out of
    nothing for that purpose. So, in spite of the limitations placed upon the Bank, and in spite of the fact that
    it was essentially a private institution, it was intended to be and, in fact, did function as a central bank.

    The Bank of North America was
    fraudulent from the very start. The charter required that private investors provide
    $400,000 for the initial
    subscription. When Morris was unable to raise that money, he used his political influence to make up the shortfall out of government funds. In a maneuver that was nothing less than legalized embezzlement, he took the gold that had been lent to the United States from France and had it deposited in the Bank. Then, using this as a fractional-reserve base, he simply created the money that was needed for the subscription and lent it to himself and his associates. Such is the power of the secret science.’

    The second Central bank “First National Bank of United States existed from 1791 to 1811 and then collapsed
    The Tried central Bank, The second Bank of the United States existed from 1816 to 1836 and then collapsed

    In those years prices increased 72% due to inflation, which is another way of saying that 42% of everything people had saved during this period was quietly confiscated bthrough the hidden tax inflation.

    The Second bank of the United States existed from 1816 to 1836 an collapsed. In that time frame the money supply was increased by an additional $27.4 million another tax payer fleecing of 40%

    When the fifth collapse occurs there is no way to pass on to the taxpayer the total debt of 252 Trillion. that’s called hyperinflation.
    The Fourth Central Bank was created in 1913 and has not yet
    collapsed but it will

  • http://www.thepowerelite.com/ ThePowerElite

    ▲ SUPPORT ECONOMIC GLOBALIZATION ▲

  • s. brandt

    We are in a global financial crisis their is no doubt. The fringe that speaks of it and the masses are numb to these economic events. I know now that the level of the commodities are very low and the best way to protect myself and family. Metals last forever paper currencies die. We have an ineffective government so why would I trust the ineffective currency.

  • Freedom Fighter

    Goosebumps. Yes, I got them when I read that too.

  • Freedom Fighter

    Every day I keep up on as much information as possible… regarding the world’s economies, regarding the world’s tensions, etc… I used to talk to my brother about it, but now he has admitted he wants to live without knowledge, and would rather not talk about any of these topics. I’m constantly trying to find new ways of bringing these topics up in every day conversation, but the more people deny things, the harder it’s become. When things get real bad, (and I mean a lot worse than they are) I want to know, and I want to be able survive. Why don’t my loved ones have that same view? They WILL die if they are not prepared. It’s depressing to have all of this knowledge, but no one that you love or care about will listen.

    • geegee

      my loved ones say they are better off not knowing wow , it is a sad day in america

  • FortuneSeek3rz

    Seven billion people and counting. The WHO is predicting 10 billion by 2050. We need some innovation fast if we’re going to effectively feed and shelter this many individuals. More tough times ahead as the world’s resources are stretched thin.

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