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20th Largest Bank In The World: 2016 Will Be A ‘Cataclysmic Year’ And ‘Investors Should Be Afraid’

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Royal Bank Of ScotlandThe Royal Bank of Scotland is telling clients that 2016 is going to be a “cataclysmic year” and that they should “sell everything”.  This sounds like something that you might hear from The Economic Collapse Blog, but up until just recently you would have never expected to get this kind of message from one of the twenty largest banks on the entire planet.  Unfortunately, this is just another indication that a major global financial crisis has begun and that we are now entering a bear market.  The collective market value of companies listed on the S&P 500 has dropped by about a trillion dollars since the start of 2016, and panic is spreading like wildfire all over the globe.  And of course when the Royal Bank of Scotland comes out and openly says that “investors should be afraid” that certainly is not going to help matters.

It amazes me that the Royal Bank of Scotland is essentially saying the exact same thing that I have been saying for months.  Just like I have been telling my readers, RBS has observed that global markets “are flashing the same stress alerts as they did before the Lehman crisis in 2008″

RBS has advised clients to brace for a “cataclysmic year” and a global deflationary crisis, warning that the major stock markets could fall by a fifth and oil may reach US$16 a barrel.

The bank’s credit team said markets are flashing the same stress alerts as they did before the Lehman crisis in 2008.

So what should our response be to these warning signs?

According to RBS, the logical thing to do is to “sell everything” excerpt for high quality bonds…

“Sell everything except high quality bonds,” warned Andrew Roberts in a note this week.

He said the bank’s red flags for 2016 — falling oil, volatility in China, shrinking world trade, rising debt, weak corporate loans and deflation — had all been seen in just the first week of trading.

We think investors should be afraid,” he said.

And of course RBS is not the only big bank issuing these kinds of ominous warnings.

The biggest bank in America, J.P. Morgan Chase, is “urging investors to sell stocks on any bounce”

J.P. Morgan Chase has turned its back on the stock market: For the first time in seven years, the investment bank is urging investors to sell stocks on any bounce.

“Our view is that the risk-reward for equities has worsened materially. In contrast to the past seven years, when we advocated using the dips as buying opportunities, we believe the regime has transitioned to one of selling any rally,” Mislav Matejka, an equity strategist at J.P. Morgan, said in a report.

Aside from technical indicators, expectations of anemic corporate earnings combined with the downward trajectory in U.S. manufacturing activity and a continued weakness in commodities are raising red flags.

Major banks have not talked like this since the great financial crisis of 2008/2009.  Clearly something really big is going on.  Trillions of dollars of financial wealth were wiped out around the world during the last six months of 2015, and trillions more dollars have been wiped out during the first 12 days of 2016.  As I noted above, the collective market value of the S&P 500 is down by about a trillion dollars all by itself.

One of the big things driving all of this panic is the stunning collapse in the price of oil.  U.S. oil was trading as low as $29.93 a barrel on Tuesday, and this was the first time that oil has traded under 30 dollars a barrel since December 2003.

Needless to say, this collapse is absolutely killing energy companies.  The following comes from USA Today

There aren’t many people who feel bad for oil companies. But the implosion in oil prices is causing a profit decline that almost invokes pity.

The companies in the Standard & Poor’s 500 energy sector are expected to lose a collective $28.8 billion this calendar year, down from $95.4 billion in net income earned during the industry’s bonanza year of 2008, according to a USA TODAY analysis of data from S&P Capital IQ. That’s a $124 billion swing against energy companies – and one you’re probably enjoying at the pump. The analysis includes only the 36 S&P 500 energy companies that reported net income in 2008.

If we are to avoid a major global deflationary crisis, we desperately need the price of oil to get back above 50 dollars a barrel.  Unfortunately, that does not appear to be likely to happen any time soon.  In fact, Dallas Fed President Robert Kaplan says that the price of oil is probably going to stay very low for years to come

You’d expect at least some artificial optimism when the president of the Dallas Fed talks about oil. You’d expect some droplets of hope for that crucial industry in Texas. But when Dallas Fed President Robert Kaplan spoke on Monday, there was none, not for 2016, and most likely not for 2017 either, and maybe not even for 2018.

The wide-ranging speech included a blunt section on oil, the dismal future of the price of oil, the global and US causes for its continued collapse, and what it might mean for the Texas oil industry: “more bankruptcies, mergers and restructurings….”

The oil price plunge since mid-2014, with its vicious ups and downs, was bad enough. But since the OPEC meeting in December, he said, “the overall tone in the oil and gas sector has soured, as expectations have decidedly shifted to an ‘even lower for even longer’ price outlook.”

In recent articles I have discussed so many of the other signs that indicate that there is big trouble ahead, but today I just want to quickly mention another one that has just popped up in the news.

The amount of stuff being shipped across the U.S. by rail has been dropping dramatically.  The only times when we have seen similar large drops has been during previous recessions.  The following comes from Bloomberg

Railroad cargo in the U.S. dropped the most in six years in 2015, and things aren’t looking good for the new year.

“We believe rail data may be signaling a warning for the broader economy,” the recent note from Bank of America says. “Carloads have declined more than 5 percent in each of the past 11 weeks on a year-over-year basis. While one-off volume declines occur occasionally, they are generally followed by a recovery shortly thereafter. The current period of substantial and sustained weakness, including last week’s -10.1 percent decline, has not occurred since 2009.”

BofA analysts led by Ken Hoexter look at the past 30 years to see what this type of steep decline usually means for the U.S. economy. What they found wasn’t particularly encouraging: All such drops in rail carloads preceded, or were accompanied by, an economic slowdown (Note: They excluded 1996 due to an extremely harsh winter).

The “next economic downturn” is already here, and it is starting to accelerate.

Yes, the financial markets are starting to catch up with economic reality, but they still have a long, long way to go.  It is going to take another 30 percent drop or so just for them to get to levels that are considered to be “normal” or “average” by historical standards.

And the markets are so fragile at this point that any sort of a major “trigger event” could cause a sudden market implosion unlike anything that we have ever seen before.

So let us hope for the best, but let us also heed the advice of RBS and get prepared for a “cataclysmic” year.

  • jj.

    we are living,right now in the collapse. no when,if or maybe. it is here.

    • Bob Johansen

      How come everyone I tell questions my mental health? LOL

      • aldownunder

        From the look of your picture you look like you have severe mental health issues

      • Bill G Wilminton NC

        change your hairstyle get more punkish and pink then they wont question your mental health. lol

  • Lone Patriot

    Prep while there is still a little time left.

    • MichaelfromTheEconomicCollapse

      Well said Lone Patriot. :)

    • SunnyFlaSnotress

      I’m getting more interviews than I have in ages, and I’m appreciating the gas rates for the big SUV I bought .. you know.. the kind that makes you say aww sh@@ when it’s parked next to you.
      Looks like I may move to inner city afterall.

      • Malcolm Reynolds

        I’m getting more interviews than I have in ages
        YouTube cosmetics channel finally taking off?Congrats.

        • SunnyFlaSnotress

          Design companies.

          • Rorschach

            Probably some pipe-dream after injecting that much drugs into her system.

          • SunnyFlaSnotress

            High end housing today..
            No immediate hire,so I guess I’m sticking w/the apartment complex in the big beautiful city where I put my application before I got the interview call

    • Pic889

      I never understood why people think the economy “will completely collapse”. When has it happened before exactly in the last 1000 years? (save for occupation by enemy forces, where the economy collapses completely along with everything else, but this has never happened to the US). But just the economy NEVER collapses completely.

      In fact, in times of economic collapse, things get cheaper, so the WORST thing you can do is stockpile on stale food which you bought expensively pre-collapse. As long as you have hard currency (read: gold) you can buy food.

      I read TheEconomicCollapse blog just to remind myself why I should save money instead of being on the edge.

      • Shirley Toney

        How are you going to buy something later when there is nothing to buy if the businesses shut down?

        • SunnyFlaSnotress

          Walmart will still be around. And Walmart dotcom is quite good. Free shipping over $50 .. you can order everything from nonperishable food to the kitchen sink.

          • Malcolm Reynolds

            You heard it here first people. The stores never close.
            That’s an awfully arrogant and idiotic assumption, even for you.

          • SunnyFlaSnotress

            Honestly, who thinks that all Walmarts are going to close in a decade? Oh sure, some will, but as I pointed out, they do e-commerce, too… and that is going to be likely as immortal as it gets. Amazon, Walmart, McDonalds, and Ebay.
            Walmart just sent me a card about expanding into perishable food too.

          • ONE WHO KNOWS

            So, you really can’t see beyond the illusion?

          • Malcolm Reynolds

            Honestly, who thinks that all Walmarts are going to close in a decade?
            I’m not sure what conversation you think you’re having, but nobody said that.
            Honestly, I get the idea that you really are as ignorant as I’ve repeatedly said you are. You really don’t get it.
            We’re talking standards of living and paradigm shifts and you’re talking about the stawk market and trips to walmart. Pfffft. Take your ignorance and go be blissful on occupy democrats or something.

        • Pic889

          That’s the issue. At no time in the last 1000 years all businesses shut down. There was always a minority of them surviving, and a minority of people buying.

        • Kat T

          Some people just make me shake my head in astonishment. I’m like Andy Dufrense “Are you obtuse?”

        • Mondobeyondo

          Kmart is well on their way to the retail graveyard… and Sears (Kmart’s parent company) isn’t in great shape either.

      • RTL89

        If you can’t see that we are heading to war, that’s your problem

        • SP2300ROFL

          Rumor has it USA has been engaged in war for quite some time now. Welcome to earth.

          • RTL89

            But that’s just it… everything always has to be about the U.S.A. So as long as the U.S.A is fine, that means everything else is fine since that’s all that matters apparently. It’s that self-entitled attitude that gets on my nerves.

          • Paul Patriot

            I am not sure it’s all self entitled , but the fact that the USA has been very blessed and has been such a world power and influence for so long, that many know, if America falls, the world will follow.

            A Cuban immigrant once told me
            “When America sneezes, the whole world catches cold”

          • Gay Veteran

            “…many know, if America falls, the world will follow….”

            BS, ask the remaining people in Afghanistan, Iraq, Libya, and Syria about the “blessings” of American world power

          • mike

            Oh nonsense…Afghanistan, Libya, Syria have ALWAYS been ratholes because muslims live there. Jihadis have been doing their jihadi BS for long before America or Israel existed. You act as if these rat muslims would all be living prosperously and peacefully if America never existed. What a bunch of horse****! Those countries are populated with 7th century barbarians and would be ratholes whether or not America was born.

            And on top of it…you are gay…these muslims ****ing hate you.

          • Gay Veteran

            “Oh nonsense…Afghanistan, Libya, Syria have ALWAYS been ratholes because muslims live there….”

            hey Einstein, Libya and Syria were stable prosperous countries BEFORE the neo-cons destabilized them.

            “…And on top of it…you are gay…these muslims ****ing hate you. They’d be throwing you off a building if you were over there….”

            well junior, are you also concerned with how they treat women? what are you going to do about? march down to your local army recruiting center?…………….sound of crickets

          • awb22

            Already did, kimosabe.

          • Gay Veteran

            in other words you got NOTHING.

            AGAIN: are you also concerned with how they treat women? what are you going to do about? march down to your local army recruiting center?…………….sound of crickets

          • awb22

            Yeah, because they accept living under dictatorships. What are you going to do about it?

            *******crickets********crickets********crickets********crickets********crickets********crickets********crickets********crickets********crickets********crickets********crickets********

          • Gay Veteran

            avoid the point. there were no Christians being murdered under Assad BEFORE we helped start a war in Syria

          • awb22

            You’re avoiding the point. Why limit your assertion to Syria. You want to pick and choose which stats you want to quote, and ignore the crimes against humanity being perpetrated in the ME today. Curiously enough, it’s against non muslims, when it isn’t against other sects of the same religion. Yet, that somehow is the fault of the west. You may have a point, since energy resources were the reason these factions were set against each other. Now that the chicken has come home to roost, these same interests are allowing the unchecked immigration into Europe.

            Yet, to blame Europe and the US is disingenuous, the multinationals are the real enemies of the people, and the Military Industrial Political complex which Eisenhower warned us against.

            You hate politics, but want the state to defend your made up natural rights against nature itself. Can’t have it both ways.

          • Gay Veteran

            “You’re avoiding the point. Why limit your assertion to Syria….”

            gee, maybe because Christians there are being murdered AS A DIRECT CONSEQUENCE of America’s formenting war in Syria

            “…Curiously enough, it’s against non muslims, when it isn’t against other sects of the same religion. Yet, that somehow is the fault of the west….”

            LIAR, Shiites and other religious minorities are also being murdered in Syria.

            “…these same interests are allowing the unchecked immigration into Europe….”

            the Syrians, Iraqis, Libyans, Yemenis, etc. are refugees, not mere immigrants!

            “…Yet, to blame Europe and the US is disingenuous, the multinationals are the real enemies of the people, and the Military Industrial Political complex which Eisenhower warned us against….”

            I recall it was the air forces of Europe that bombed Libya.

            “…You hate politics, but want the state to defend your made up natural rights against nature itself. Can’t have it both ways.”

            sorry Einstein, but I have the natural right to do whatever I please so long as I do not harm another. But ayatollah wannabes like YOU hate that, because YOU want to dictate how people live their lives.

          • awb22

            I fail to see the connection. It isn’t just xtians, but non-muslims and even sectarian violence.

            It just so happens xtians are at the top of the list, and we see which side you come down on, sodomite

          • Gay Veteran

            wow, the stoopid is STRONG with you.
            AGAIN Einstein, under Assad there were no mass murdering of Christians and other religious minorities in Syria BEFORE the U.S. started the violence there

          • awb22

            You don’t get to cherry pick your statistics. The proxy war in Syria isn’t occurring in a vacuum. What difference does it make where it occurs?

          • Gay Veteran

            you’ve yet to rebut any thing I have posted, junior

          • awb22

            you’ve yet to say anything worth rebutting, you lying hypocrite.

          • Gay Veteran

            awwwwwww, Sodomite Obsessed Polly, you can’t even defend your own arguments

          • awb22

            oh, and what would that be?

          • Gay Veteran

            interesting you refuse to talk about Syria

          • awb22

            In what context? Isn’t Iran the jewel of the current geopolitical spin? Things haven’t changed that much since the cold war. Technology has improved and we know things a lot faster, on both sides of the spiritual equation. Which side are you on?

          • Gay Veteran

            well Sodomite Obsessed Polly, I’m on the side of not murdering civilians (Christians, Muslims, etc.), which is counter to what American neo-cons are doing in Syria

          • awb22

            oh, which party?

          • Gay Veteran

            gee Sodomite Obsessed Polly,
            democrats = republicans
            so no party

          • awb22

            I’m asking you.

          • Gay Veteran

            which side? I’m for civilians not being murdered.
            now quite wanking off after you type “sodomite”

          • awb22

            You mean, like xtians, you lying hypocrite?

          • Gay Veteran

            what was it the bible said? oh yeah, thy shalt not bear false witness

          • awb22

            It says a lot of things. I don’t see a point so I’ll assume you don’t have one, sodomite.

          • Gay Veteran

            awwwwwww, Sodomite Obsessed Polly, you sure are dense

          • awb22

            ah, changing the subject, nice try, sodomite!

          • Gay Veteran

            no Sodomite Obsessed Polly, you are constantly dense

          • awb22

            now with the straw man, idiot

          • http://www.coroflot.com/joelpeeters/portfolio Joel Peeters

            I’m not so sure about that…

            America as dominated the world for only 100 years or so (really short period compare to many other superpower)… influence has been huge no doubt, but so it was for the British Empire, French Empire, Spanish Empire, Roman Empire, etc…

            The power of an Empire (Superpower) does not really defines how the world it has influenced for many years will really react. One condition does not automatically lead to the other.

            It is a really wrong assumption made time and again in History to think that the fall of an Empire automatically leads to the fall of the world around it.

            The only things it REALLY does is to shuffle a new deck of cards for a new game to begin. New cards, new players, new game… but not a fall, just a redefinition of the overall context.

            And some of the new players are already there : China, Russia, when others have still to come to the final table. They probably all have one big thing in common they are WAITING for the fall of America, and make themselves ready for it to take over… again, no fall of the world, just a redefinition of the landscape…

      • ONE WHO KNOWS

        This isn’t a game. This is really happening. We’re about to experience something that is UNKNOWN to mankind. You have a choice: You can remain in a state of denial, or brace yourself. But you were warned.

        • Bill G Wilminton NC

          You are beautiful plse keep speaking the truth maybe a few will listen.

        • SunnyFlaSnotress

          I don’t think it will be all that exciting here in the USA. Interesting, maybe, but only as troubling as personal finances take it.
          There will likely be plenty enough good neighborhoods to go around.

          • Malcolm Reynolds

            Absolutely right, unless of course you factor in the fact that half the planet is trying to kill the world’s current reserve currency. Remind me again, in your vast knowledge, what happens when you have a MOUNTAIN of extra currency.

            There will likely be plenty enough good neighborhoods to go around.
            Whatever the hell that means. Princess thinks she’s going to subsist off of her neighbors and I, for one, encourage her to stick to that …. belief.

          • SunnyFlaSnotress

            “Princess thinks she’s going to subsist off of her neighbor”
            Nah.. I much prefer marrying for money. (no volunteers please)

          • Richard O. Mann

            I was hoping your were rich. Well, there go my plans for survival. HA!!!!

          • SunnyFlaSnotress

            lol… The Powerball’s still gaining!

          • Malcolm Reynolds

            (no volunteers please)
            *gag*

            I much prefer marrying for money

            Ahh, garden variety gold digger. Yikes, so you’re striving to be some dude’s cream pie but, lemme guess, you think we should take you seriously?

          • Gay Veteran

            “…There will likely be plenty enough good neighborhoods to go around….”

            sounds like a threat of theft. anyone trying to steal my home gets a 12 gauge suppository

          • SunnyFlaSnotress

            I’m referring to safe areas.
            smh (shaking my head)

          • Gay Veteran

            safe areas? where the hell is that?

          • awb22

            sounds like a threat of vigilantism, although I suspect it turns you on saying suppository.

          • Gay Veteran

            when seconds count the police are minutes away

      • mtntrek3

        Astronomical debt nationally and worldwide, along with the manufacturing slowdown…. plus the world is tied together economically. In addition geopolitical issues and other things will eventually bring about a “perfect storm”. When exactly is the question. It may have already started.

      • Dave

        Just remember that the debit card, credit card and checks in checkbook are not money. They are currency. Gold and silver are money.

        • SunnyFlaSnotress

          I’d rather take a credit card than a gold bar to the grocery store.

          • Malcolm Reynolds

            There you have it people. Imbecile condescends to everyone and then proclaims she prefers DEBT to money.
            Because credit cards never get cancelled. Oh wait, yea they do. Especially in times of financial … troubles.

          • SunnyFlaSnotress

            I pay my credit cards you vulgar curmudgeon.
            We’ll see down the line which payments Walmart accepts.. gold or credit card.

          • dlewenz

            Sunny, if we do have a total financial melt down, Walmart will be closed, all retail transactions will just stop. The banks will shut down, All commerce will stop in its tracks. Gold, Silver will be used to barter, for those that have it. I personally do not think this will happen, but if the dollar is devalued by 50 percent, the value of gold and silver will more than double, allowing you to sell your gold in exchange for devalued dollars.

          • SunnyFlaSnotress

            I hear what you’re saying, but I don’t believe it would happen either .. I just don’t believe that a reset would take so long that Walmart wouldn’t be up and running within a few days.

          • Rorschach

            “I hear what you’re saying, but I don’t believe it would happen either ..”

            No you aren’t hearing what is said. You just troll.

          • SunnyFlaSnotress

            Like Monty Python said “I fart in your general direction”

          • Rorschach

            You fart in everybody’s direction. It’s ineffective though because it doesn’t go anywhere and doesn’t do anything.

            Isn’t there a Darwin award you should go claim?

          • Malcolm Reynolds

            I just don’t believe that a reset would take so long that Walmart wouldn’t be up and running within a few days.

            That’s because you’re a buffoon. This walmart took…. wait for it…. 9 YEARS to re-open after Katrina.

            http://www dot nola dot com/business/index.ssf/2014/06/walmart_opens_in_eastern_new_o.html

          • CASTIEL

            Yeah….can you use your credit card after a EMP? If the bank shut down can you use it? Do you Remember Germany in WW 2? they needed a whellbarrow full of money just to buy food…..gold will have always the same price…because you cant print gold or silver

          • SunnyFlaSnotress

            You and your EMPs.. Gold is only as good as the guy who shoots you for it is. I will grab Muscovy ducks and raise them in my apartment :)

          • Rorschach

            ” I will grab Muscovy ducks and raise them in my apartment :)”

            I don’t think anything wants to live in the confines with you.

          • SunnyFlaSnotress

            Actually, Florida men typically want to shack up w/me

          • Rorschach

            Define “men”?

          • SunnyFlaSnotress

            Well I lived w/my boyfriend for about 10 years.. and then I took up w/someone, an old neighbor I had been acquainting with for a number of years, and he wanted to move in, but we couldn’t reach agreement on an issue, so I decided against it.

          • Malcolm Reynolds

            I will grab Muscovy ducks and raise them in my apartment :)

            Sooooo….her survival plan is to “marry for money” and breed ducks … <looks right> i-i-in … her … <looks left> home? lol.

          • Malcolm Reynolds

            Guess what happened to my cards in 08-09 you witless trollop. I have a FICO north of 800 and pretty much always have. So why exactly did several cards magically get canceled and still other have their APRs more than double?

            We’ll see down the line which payments Walmart accepts.. gold or credit card. Sure, I’ll instruct you. That is what’s called a strawman since I never said any such thing.
            But if you want that turned around on you for what you ACTUALLY said, we’ll see down the line where you’re going to subsist, whether it be from your back (as I contend) or from your neighbors (as you contend – quote included as a free service)

            There will likely be plenty enough good neighborhoods to go around.

          • Rorschach

            “I’d rather take a credit card than a gold bar to the grocery store.”

            Credit cards require what to be working? Insert word here.

            You really are that stupid?

      • Jill

        To preface, just because something has never happened before does not ensure that it will never happen. In regards to stockpiling or food security via gardening, if it gives people comfort to assure that their most basic human need is taken care of, why let that trouble you? You might find comfort in paper bank notes and stock certificates and that is fine. Many of us can cheaply stockpile long term food items and basic hygiene/medical supplies. I daresay quite a few regulars are very adept in the arts of agriculture and husbandry. Only time will tell which is more valuable in a crisis, but everyone should do what feels right to them without being ‘shamed’ by the contrarians.

        • SunnyFlaSnotress

          I don’t think he’s troubled as much as curious. I don’t think he’s shaming you. It’s just that many of us, even if expecting a downturn, don’t believe in MadMax scenarios.

          • Jill

            I do not believe that I will soon be hijacking tankers or that my son will reprise the role of feral child in some dystopian scenario. What I do believe is that a downturn is inevitable and that providing for one’s basic needs is something to be celebrated, rather than maligned. My paid off mortgage (ironically aided by the sale of stocks) and large three season garden give me more peace of mind than my remaining investments and 401K.

          • jakartaman

            If you are wrong – so what
            If the nay sayers are wrong – they are dead!

      • Joltin Joe

        The problem will be the the hoards of people who did not prepare at all, cash or supplies that roam around looking to take. I’d rather have some supplies to go into hiding for a few weeks / months until it ‘dies down’ pun intended

        • Pic889

          Your supplies won’t last long enough, sorry. If the country becomes a failed state (say because it was occupied by a foreign nation), your supplies won’t last long enough, and you will probably overpowered. And your scenario involves the state losing the monopoly of force, which won’t happen in a state like the US, because the last thing they will stop spending on is preserving the monopoly of force.

          • Joltin Joe

            They won’t last = True, but I’d rather have something . I could be overpowered true, but I will take out as many as possible first 😉

      • Malcolm Reynolds

        When has it happened before exactly in the last 1000 years?
        Well, since America hasn’t been around for 1000 years, I assume you’re asking when has any economy in the world completely collapsed.
        Well the Greeks are down to bartering, but no they haven’t collapsed.
        Zimbabwe was printing trillion dollar bills, but that’s not a collapse.
        Weimar Germany was paying for bread with wheelbarrows of money, but nahhhh that’s not a collapse either.
        Oh brother.

        • Pic889

          The Greeks are not down to bartering, not all of them… My parents live in Greece. They have money and they just buy from supermarkets and malls. Some of them closed, some not. They buy from the remaining ones. As long as there are people with hard-currency or gold (demand), there will be supply. Small in absolute numbers but existing. The only time most of the Greeks actually starved was when Greece was occupied by the Axis forces back in WWII and all the food was seized, save for very little in the black market. Indeed, back then, anyone who had a garden large enough didn’t starve. But the US is unlikely to be occupied by a foreign nation

          And everyone in Zimbabwe and the Weimar Germany who had hard-currency (aka was smart enough to exchange their worthless Zimbabwe dollars and Weimar whatevers with other currency or gold) could buy food just fine.

    • Bob332

      & PRAY!

      • SunnyFlaSnotress

        I will pray to Chernobog :)

    • Rorschach

      Well said. Those who fail to plan, plan to fail.

  • Jon

    Our world has always sucked. Here’s just another nail in our corpse ridden coffin. It’s so hard to stabilize or get anyone to care even at times like this.

  • Jazz

    Lol. Sell everything? I’m buying baby! I do the opposite of Wall Street and make a killing.

    • SP2300ROFL

      Of course you are. You’ve been bullish throughout the entire 2000+ djia point decline. Well done! ROFL. Brilliant call on AAPL to 240 by December as well. Just missed. ROFLMAO … You are a fool no doubt about that!!

      • Malcolm Reynolds

        Hey! Jazzy made 200+% on his investments last year. That’s no way to treat greatness!

    • Jazzizalittleb!t€h

      You just got your azz handed to you with facts, you little b!t€h!!
      If you can, answer his statement point by point and prove him wrong…. You are a moron in life and on your mothers computer located in her basement, you little f-n boy….

      • SunnyFlaSnotress

        So much hostility..Jazz wasn’t responding to anyone.. just stating his point of view.. It’s a blog.. get a grip

        • Rorschach

          You should get a grip troll it seems you are losing it quickly.

        • SoLongSunnyBoy

          Moron. Good try obfuscating the request to address these points:

          1. 2000+ djia point decline

          2. APL to 240 by December

          Have your other personality, referred to as Jazz, answer why he was wrong or to prove he is right with counter statistics.

          Get off this blog you moron. Why do you need to come here if everything Michael says is wrong? No one listens to you, nor do they care about any dissenting viewpoint you can provide….you are a moron who trolls with the skill of a 4 yr old. Are you a keyboard king? Hide behind your screen little man….we’re coming for you.

          Love,
          T.4.H.O.T.A

    • Bill G Wilminton NC

      Dont you have anyone who loves you……call dial a prayer !

      • SunnyFlaSnotress

        Most of us aren’t here for love, but I appreciate Jazz.

        • Rorschach

          You appreciate your own trolls Sunny? Interesting.

    • Rorschach

      It’s going to be hilarious watching you lose everything because you are just so arrogant. Enjoy the crash and burn.

    • MaxRockatansky33

      What if those stocks will hit even lover? Sell, sell!

  • Bill

    Soon the balloon will pop and prep time will be over. BDI continues an historic slide, now down to 402.

    Don’t fret. The imposter is about to tell us how great things are because of his actions. Will you believe another whopper?

  • K

    Folks JP Morgan, and the Royal Bank of Scotland. Have not become the good guys. This is a cover their rear end maneuver. This allows them to say, they warned you. So what does that mean? They think the crash is close. They would not put out the warning, if it was 9 months out.

    • SP2300ROFL

      They would not put out a warning unless they needed the selling shareholders stock to cover their open shorts. Learn the game get a clue ROFL

      • K

        Under other circumstances maybe. But everyone has a right ti their opinion. And everyone will be wrong, from time to time. Quess it is your turn.

        • SP2300ROFL

          I’m very bearish myself as well but sell everything and hold us dollars and high yield “junk bonds” sure seems even more risky. Call me a rookie but a well balanced well hedged portfolio still seems more prudent especially in uncertain times. Jmho

          • K

            Did not say I agreed with that part. I just prepare to survive as long as I can.

          • SP2300ROFL

            Self preservation is always a good instinct regardless of current economic conditions. :)

      • LOFR0032PS

        You think a bank relies on its customers selling stocks to cover open short orders? ROFL! You know even less about banking than Ghandi.

        • Bill G Wilminton NC

          Well said enuff is enuff…….

        • SP2300ROFL

          Keep guessing. You have no clue what you’re typing.

      • Bill G Wilminton NC

        The stock market today is not little shareholders but trading financial companys like Janney montgomery etc etc where people put their investments and are coached…. so unless co’s like janney are recommending sell it doesnt get sold but you make it sound like someone opens the door and yells BOO and everything gets liquidated.

        You are so far in left field you are in the BLEACHERS next to the hot dog man.

        • SP2300ROFL

          Only 14 yrs in the industry and much more in the capital markets. Great comedy seeing a hillbilly from NC telling me about bleachers and hot dogs – ROFLMAO

          • Bill G Wilminton NC

            If you are 14 years in the industry as you call it and much more in the capital markets why are you posting on this blog and sometimes posts so wordy they don’t even make sense

  • Mondobeyondo

    And the 19 top banks in the world will say, “Relax! There’s nothing to worry about. Everything is fine…”

    Folks – those are not the droids we’re looking for. The Force is not strong with them. In fact, the Dark Side has taken over any financial institution who would dare say everything is okay.

    May the Force be with you. Even more important, may Jesus Christ be with us all.

  • Robert

    I shop Walmart and Costco mostly. The food sections are crowded while the other parts of the stores have little traffic. I have seen this for months now. The Home Depot I use is never busy. More employees than customers it seems. I have never seen stores this slack in my life (70+ years).

    • barry oldwater

      Sears wrenches an sockets are made over seas, and the store was dead, scared to buy their chinese tools, don’t know if they will be around to exchange them when they break.

    • jsmith

      While Costco is still pretty busy, I did notice that the Home Depot in Tustin California was almost empty. There was even a shopper who brought in a German shepherd who I talked to. I think there was only one cashier, and the rest were automatic self serve, and of course finding a salesperson was like hunting through empty aisles. Yet I see 10 and 12 year olds coming out of schools with Iphones. I don’t get it.

  • GSOB

    But I have raised you up for this very purpose, that I might show you my power and that my name might be proclaimed in all the earth.

    The LORD has made everything for its own purpose, Even the wicked for the day of evil. Everyone who is proud in heart is an abomination to the LORD; Assuredly, he will not be unpunished.…

    What if God, although choosing to show his wrath and make his power known, bore with great patience the objects of his wrath–prepared for destruction?

    In bringing many sons and daughters to glory, it was fitting that God, for whom and through whom everything exists, should make the pioneer of their salvation perfect through what he suffered.

    Or WHO HAS FIRST GIVEN TO HIM THAT IT MIGHT BE PAID BACK TO HIM AGAIN? For from Him and through Him and to Him are all things. To Him be the glory forever. Amen.

    to the only God our Savior be glory, majesty, power and authority, through Jesus Christ our Lord, before all ages, now and forevermore! Amen.

  • John Noyb

    We’re living in the “times of the signs” but so many still have their heads in the sand about what is going on globaly. There will be many that won’t believe any of it until they have lost all they have and are standing in line for a food hand out from the government. The “house of cards” is teetering badly – but the mockers will continue to mock all the way to the bitter end.

    • http://www.mindbodygreen.com Kim

      I just watched the Revenant. A very violent but excellent movie. This is not a spoiler: at the end, the main character (the so called “revenant”) realizes that vengeance belongs to God.

  • Chris

    What network carries that show mike?

    • Shirley Toney

      Angel 1 and Angel 2 on Dish and maybe Direct.

    • MichaelfromTheEconomicCollapse

      I know that there are quite a few channels on DirecTV that carry it. I would search around in the Christian channels because it plays at various times of the day.

    • nevergiveup

      They also have a channel on youtube.

    • Mike Hunt

      Xhampster on line.

      • pissedlizard كافر ‏

        I admit it – you got me. I tried retyping 4 times before I realized I had been had.

      • SunnyFlaSnotress

        lol.. I had to google

        • http://www.mindbodygreen.com Kim

          And?

          • SunnyFlaSnotress

            And then I watched some clips of course!

          • http://www.mindbodygreen.com Kim

            And then what?

          • SunnyFlaSnotress

            Kim, It’s partly cause the picture is small, but I keep wondering if you were born a woman.

          • http://www.mindbodygreen.com Kim

            Perhaps you were picked? Or perhaps blown?

          • Rorschach

            Sunny was an experiment gone wrong.

          • SunnyFlaSnotress

            You look to me like an Asian boy gone girl who typically make their money in nefarious massage parlors etc

          • http://www.mindbodygreen.com Kim

            awww. That’s on a good day too. Tomorrow I’ll post my Laplander girl boy fisher photo.

          • SunnyFlaSnotress

            (Kim is not a REAL woman)

          • http://www.mindbodygreen.com Kim

            Haha first I’m an ignorant trollop and now I am Asian tranny-boy. My, you’re just a barrel of Florida sunshine, sweetie.

          • SunnyFlaSnotress

            Notice he/she doesn’t deny being a Tranny

          • http://www.mindbodygreen.com Kim

            –ok ms. snot blossom.

        • Rorschach

          You already knew about it Sunny. Don’t pretend you didn’t know about it considering the lack of action you have received *ever*.

          • Richard O. Mann

            Be nice to Sunny. I have a never have met her, older man, younger woman, crush on her. HA!!! Just kidding. But I do enjoy some of her post, and love the picture.

          • SunnyFlaSnotress

            Thank you :)

  • Guest

    “Sell everything”…HORRIBLE ADVICE! How does anyone justify upto 50% in penalties(early withdrawal, etc)to cushion against a 30% predicted correction(according to this article), or what it refers to as “normal levels”!? You’d still be 20% further behind in the end by selling it all now. Just like 2008 when all the panic set in and everyone sold…if they held on they would have double or tripled their returns! And that’s just my surface thought, don’t get me started!
    Better yet, sell sell sell cause I’ll be the guy buying buying buying!

    • SP2300ROFL

      If you’re going to try and use common sense you’re on the wrong blog. This forum is for those that want to sit back relax and laugh at those that have accomplished near nothing and accumulated even less explain to you how those that have succeeded and/or thrived that their way of life is about to go over a cliff; the modern day version of the earth is flat. According to the oracle himself a supernatural force is already overdue to end civilization. Those without such voodoo and sorcery capabilities will also explain how the global armed forces are planning to locate close with and destroy any success you may attain. Although to some they may appear to be raving lunatics suffering PTSD rest assured that is not the case. These are some of the planets greatest minds with knowledge far beyond comprehension from everything from the most complex derivative structures and their applications towards decimating the fractional reserve banking system and every aspect of capitalism down to the most detailed minutiae regarding history religion geopolitics military tactics and supernatural events. Enjoy the comedy while the world transitions economies consolidate and markets rebase. ROFL

      • Guest

        This has got to be the most accurate description of the majority of this blog’s followers I have ever seen described before. You pretty much hit the nail on the head. Lol

        • Bill G Wilminton NC

          So why the F are you here……I dont eat in restaurants I dont like I dont even use their restroom.

          • SunnyFlaSnotress

            Let there be peace on earth
            And let it begin with you.
            Let there be peace on earth
            The peace that was meant to be.
            With God as your Father
            Brothers all are you.
            Let me walk with my brother
            In perfect harmony.

            Let peace begin with me
            Let this be the moment now.
            With every step I take
            Let this be my solemn vow.
            To take each moment
            And live each moment
            With peace eternally.
            Let there be peace on earth,
            And let it begin with you.

            (child)
            Let there be peace on earth
            And let it begin with you.
            Let there be peace on earth
            The peace that was meant to be.
            With God as your Father
            Brothers all are you.
            Let me walk with my brother
            In perfect harmony.

      • Bill G Wilminton NC

        So why are you blogging on this stupid site ( as you say) full of voodoo Bible thumping weirdos…..

        And as for derivatives ” no one including I can figure out these financial weapons of mass destruction” (by Warren Buffet) Take up your case with Warren !

        So you flounce and throw words and terms here there everywhere, but the truth is all you have to do is state your position then go back to the BAR.

        Are we going to collapse do you believe so or not……give me a F ing break. The earth is flat, oracles, voodoo, supernatural what are you a script writer for science fiction looking for a job plse go back to CNBC.

        You wouldnt last 2 minutes in a business meeting deal with me.

        • SunnyFlaSnotress

          voodoo Bible thumping weirdos are fun!

          • Rorschach

            He wasn’t talking to you Sunny. You should stop sticking your ugly nose into things that don’t concern you.

      • Bill G Wilminton NC

        Comedy huh………wrong !…. As the world transitions into NWO GLOBALISM….. you call it consolidation and market rebase.

        What type of blinders do you have on ? CONCRETE !

      • Jill

        Do you honestly care that much about what your fellow man thinks or how they choose to conduct their financial affairs? Don’t you ever tire of fecklessly wasting your time and engaging in ad hominems that will not change any hearts or minds?

      • SunnyFlaSnotress

        Bravo! lol
        That’ll cost ya 20 trolls, 10 fools, and various other assorted derisions.

        • leebo

          Truly is remarkable what lengths people will go through to explain what they know even though their subject matter was filled with material attained from entirely the wrong shelf, or corner of the Internet I should say. I wonder how many people here have actually sat in a university library and studied ANY of the subjects they claim to know so much about.

          • http://www.mindbodygreen.com Kim

            I graduated from college (law school) in 2007. Entirely wrong field of study for me but I graduated at the top of my class. I worked in the area of landlord-tenant law and then corporate law as a paralegal for two years. Hated it. Just hated it.

      • leebo

        Well stated

      • http://www.mindbodygreen.com Kim

        Love it. Lol

  • J B

    Should do the exact opposite of what any Bank tells you.
    Keep everything, and take all your money out of the Bank and convert it into anything that has Physical Properties. You don’t want to be left holding a bag full of dollars.

  • Plextt Plextt

    “I like watching the puddles gather rain”

  • Crisis Investor

    The financial system is slowing falling apart. Which bubble will burst first? China? Subprime auto loans? Student debt? Sovereign debt? Fracking loans? The perfect financial storm is brewing. It is mighty dangerous out there. Be careful!

    • SunnyFlaSnotress

      It means more amazing Chinese stuff on Ebay at lower prices.

      • Rorschach

        Not that you could afford any of those goods Sunny. Even bargain stores are priced way out of your budget.

  • Scotto Lotto

    well all cars to turn to electric in the next 20 years, i guess its like going from records to cd, and guess who is getting in on the action APPLE, that means Oil going to 15 dollars which is the main driver off this stock market crash.

  • Mad Monkey

    Here is where the remaining economy is: Headlines from a British newspaper. ““Great British Borrowing Binge sends debt rocketing 40% in just 6 months” Do a google search on it, and more oil jobs gone 5,000.

  • df NJ

    This:

    “Yet in that way, it also was a stark reminder as he prepared to exit the stage of how the promise of Obama’s arrival in 2008 fell short. Then, he promised unity. Instead, he got seven years of bitter partisan polarization.”

    Is like saying “If only my wife would not be bruised after I beat her senseless she would not have any black-and-blue marks.”

    After shifting to the right for 30 years I think this country is ready for a new form of government. Everyone hates Congress. Everyone loves the military. What we need is strong leadership that can only come from a right wing military-style dictatorship. And when the dictator singles you and your family out for your 100% tax donation I want you to remember the days when the rule of law mattered and the cartels and monopolies did not control congress.

  • Alcoholic Prepper

    The best deals are at WalMart. 8 pound bag of dried pinto beans less than $8. At SAMs club, 50lb sack of white rice $14. Anything else you get is a luxury. I don’t like Walmart but when you have low funds…

    • http://www.mindbodygreen.com Kim

      I used to drink. I still do, but I used to too. (Mitch Hedberg)

      I got some rice in bulk at WinCo. It was excellent rice too.

      • Fellie Chn

        Rice n beans n sweet potatoes are high in fiber,they make you FART –> loud !

        • http://www.mindbodygreen.com Kim

          This shirt is “dry clean only” which means it’s dirty.

          • SP2300ROFL

            Hi :)

          • http://www.mindbodygreen.com Kim

            Helllooooo! :-))

      • SP2300ROFL

        If you ever decide to drink too much again I sure wanna too… even if its water :)

      • John Noyb

        Don’t forget to splurge on some seasonings! Rice and beans can get awfully old awfully fast!

    • SunnyFlaSnotress

      I buy Great Value Instant Rice… I’m extravagant. lol

  • merrileerj

    Thanks Michael I will be sure to tune in. I usually see the show anyway at midnight when I go to bed.

  • billtheguy

    In the great depression of 1929, people had a different demeanor. They had compassion for their fellow man. The great depression of 2016 will be far worse. People who did not prepare will be killing each other for food, or gangs will come and take what you have. In the interim, the president will declare martial law, haul you off to FEMA camps, where you will have to fight to stay alive. I have prepared and gone as far as buying cigarettes and alcohol for additional bartering. Hoping to stay out of site for as long as I can.

    • http://www.mindbodygreen.com Kim

      So true. They also had a foundation on which they could restructure the economy. We do not have that foundation today. It’s like the bottom is falling away.

      • Kat T

        Do you think it will be ‘When they have nothing to stand on, they will know they need to stand on God’?

        • http://www.mindbodygreen.com Kim

          Yes but by then it will be too late.

    • ONE WHO KNOWS

      Agreed. Today folks have grown desensitized and indifferent to each others basic/human needs. Many people today are cut-throat and competitive.

  • robbie41

    Today from this Day Forward, YOU Literally Only have ONE & A HALF MONTHS Left, to Figure Out How to Purchase, Buy & Store a Years worth of Food, Water, Pet Supplies, Medical Supplies, Bathroom Supplies, Personal Protection Gear, & Cooking Supplies, & ANYTHING else you can think of, for the ENTIRE YEAR of 2016. (And Well Beyond that for that Matter).

    The Planet Nibiru / Planet 7X can be seen now near the sun, as it will go around behind the sun, then come out & then it will start to head towards the EARTH. Arrival Date is March 26, 2016.

    On the week of Feb 28, through March 6 ALL the Banks of this Country will be Closed, Shut-Down, & Locked-up. You will have NO access to your MONEY in your bank accounts, what so-ever. The FIRST-EVER Bank Bail-ins will be in effect. Your Money will be Confiscated & Stolen right from YOU.

    • HeyAHuman

      Woah… people are still talking about Nibiru?

    • rentslave

      According to Roger Goodell,the world won’t come to an end until Monmouth Park takes its first bet on an NFL game.

    • ONE WHO KNOWS

      So, you’re saying that these economic challenges are due to planetary forces?

  • http://www.mindbodygreen.com Kim

    I wish I could watch it. I am leaving for Shanghai on Saturday. Then Bangkok. I am going to have limited Internet connectivity. , especially in Bangkok. Is there anyway to view it online later?

    • MichaelfromTheEconomicCollapse

      All of the shows are eventually posted in the video on demand section…

      http://jimbakkershow.com/video/

      That means that you will be able to watch them at any time.

    • Jazz

      Wait until rates fall again. Lol

      • Rorschach

        Nobody asked for the opinion of a troll Jazz and yet here you are.

      • http://www.mindbodygreen.com Kim

        Didn’t they fall to zero already?

    • Mike Smithy

      While you are visiting Asia, consider the following deep thoughts:
      Confucious say; “Man who stand on toilet, get high on pot”.
      Confucious say; “Man who go through airport turn-style sideways, going to bang-cock”.

      • http://www.mindbodygreen.com Kim

        Humor! AR AR. (Good ones)

  • REALIST

    Saudi Arabia will have to borrow money, and sell assets. Do they have one of those large State Owned Investment vehicles? Like Norway? Etc. So, when they “HAVE” to sell, along with Norway (and the Chinese have to dump their 1.2 Trillion in US Bonds……)…….the sell off is just beginning.

  • CASTIEL

    The oil is so low….because almost 40% of the budget from Russia cames from oil…so US made a deal with saudi arabia to keep the price down……We are living the consequences of a new cold war…..that will lead to destruction of the economy….and who knows if that cold war could became hot……In these all bad things at least i can put the pedal to the metal in my car all the times without concerning about the price of the fuel…..

  • axinosp PAN

    After the collapse of American drill oil companies, now prepare for dollar spring collapse after the Saudi Arabia vanish !!

  • HeyAHuman

    The Dow sure is taking a plunge today… -262.29 (1.59%) at this time.

    • Fellie Chn

      saw it TOO ! scary

    • Rorschach

      Remember that 2008 had similar volatility as well. A financial crisis doesn’t mean that there won’t be “bear days” and “bull days”.

  • Fellie Chn

    Someone I knew had to GO all out CASH = SSO, AAPL, DIS –> SELL !

  • Fellie Chn

    Comments Z:

    Arch Coal –> filed CHPTR 11
    Alcoa –> fell another 18%-20%
    HIBOR –> almost @ 66.8% on from 4% !
    Bankruptcies are LOOMING (c/o MS) –> OIL needs a longer DIPSTICK!
    Lucidus Capital Partners –> liquidating to the tune of $900m BACK to clients !
    Third Ave –> liquidating $ 788,5 m BUT delaying distribution.

  • Fellie Chn

    Comment Z:

    t. Collective Loan OBLIGATIONS (CLO) being ISSUED @ record pace.
    v. Leverage Back LOANS OUTSTANDING amounted to $ 900 BILLION !
    ww. High yield Debts Market is amounting to $16.58 TRILLION ! –> ok how did this happen ?? –> resulting to JUNK & Sovereign debts spinning through the tune of bubblegum.
    x. BOND YIELDS will spike just because of INFLATION or INSOLVENCY ! Whoaaa . .

    z. This is CARNAGE ! ! like Carne Asada ! el ohh el.

  • DrM

    I think that the whole banking system will collapse when a major bank defaults like Lehman did in 2008. A bank default can be triggered by China, or by a very low oil price, etc.

    But the oil price can also easily go to 150-200 Dollar/Barrel when a regional war erupts in the Middle-East. That will surely wreak havoc for the financial system and the whole economy! And your energy and gasoline bill will explode.

    • Rorschach

      A “Black Swan” event will merely accelerate the current crisis it won’t necessarily trigger it. It’s already happening.

  • Fellie Chn

    I think the issue is NOT OIL “per se” but the demand for other stuffs primarily, toothbrush and toothpastes.Now that we have invented an alternative to this, other economies are ff too !

    My crystal balls says : “launder THY money in the real estate,NO one WILL ever know ! “

  • http://www.coroflot.com/joelpeeters/portfolio Joel Peeters

    Concerning the notion of “Trigger of the collapse”

    I read most often than not about the collapse triggered by some event from outside the US : China, Middle East, Russia or Europe… although it make sense based on whatever news we receive time and again from the mass media about the trouble going on over there, I can not stop wondering if we are not all making a really bad mistake by assuming that it will come from outside.

    The insistence of the media pointing to the outside US numbers and events makes me think more and more that the trigger will come from the inside, precisely where nearly no one is looking. but it is always better to point to someone else to avoid a reality we could have difficulty to admit.

  • thegeorgespyman

    Panic selling just breeds the demise faster and harder. Where it would be recommended to prepare for difficult times if not outright calamity, it is foolish to shout fire prematurely. This has been a long time coming and people have spent most of their lives in denial. My grandfather said not to be concerned about the dollar value of things. As the currency crisis manifests, other measures still have meaning. An acre of land is still an acre. It grows so much food. An ounce of gold will still be an ounce. A house will still be relative to so many cars. The numerical values we assessed will no longer matter. We need the roof over our head. We need the food and assets that carry value by their very existence. Anticipate the need. Be your own black market. You will barter outside of a financial system as you grew accustomed. It’s happened every so often. We survive. Instead of counting your net worth, count your blessings and be thankful for them. What is truly valuable will not melt away. It will be those you love and depend on including yourself.

    The good thing about adversity is it lets you know who your friends really are. It’s a Wonderful Life and Untamed were classic films to remind you that very thing. We will survive. What truly matters will still be there.

    • Fellie Chn

      Eat rice, beans and sweet potatoes –> THY farts like ka BOOOM

    • Jerry C

      “You ain’t no kind of man if you ain’t got land.”-Oh Brother, Where Art Thou?

      Most people don’t have land nor how to raise their own food & are one paycheck away from poverty. Owning land & knowing how to raise food makes a man, healthy, wealthy & wise.

  • SP2300ROFL

    SP2300ROFL 5 days ago
    fwalker2016 3 days ago
    SP500 five confluences “support” 2000.8 then 2x at 1880.1 and 2x 1872.7. Fat lady sings UVXY 87.5. :)$

  • SP2300ROFL

    SP2300ROFL D. Boone Cooper 3 days ago
    I would not panic and think its possible for key indices to be slightly higher by weeks end. IMHO that does not include Russell 2000 that broader index likely remains under pressure. After that I’m still expecting lower levels across the board between now and March. 1881 seems key on sp500 IMHO if thats violated decisively (1%+ lower) then another 5%+ decline imminently would not surprise me. Imho much of last weeks pressure was pent up from last year – money managers waiting for the calendar to flip and push taxable events out till 2017 filings and that race to the exits may have abated. In the words of the omniscients: at this point it may all be about the evolution of the incoming data…..

  • SP2300ROFL

    SP2300ROFL 3 days ago
    Let those NASDAQ futures turn positive and show some leadership markets could easily get temporary amnesia as if last week never happened…for a hot minute. Good chance for anxious longs to exit or shorts to initiate fresh positions but at this point here the short side seems crowded IMHO. Again its all about …. AAPL :)

  • SP2300ROFL

    SP2300ROFL andy 3 days ago
    Maybe one more short squeeze attempt doubt it gets much traction or lasts long but short side seems crowded for a moment. Good chance sp violates Aug 1867 low before March tho so I’m not too bullish just tradable low for nimble scalps

    • Jazz

      I bought some emerging markets stocks today. Due for a good bounce.

      • Rorschach

        The good bounce you will get is when you jump off the highest building and make a thud and then a bounce.

        • Jazz

          I love you!

          • Rorschach

            Nobody loves you and that’s the irony in this situation. Oh excuse me I forgot about your fellow trolls but they don’t count.

          • http://www.mindbodygreen.com Kim

            Lol.maybe buy some rubber stocks?

      • SP2300ROFL

        Finally we agree on something !!!
        :)

        • Jazz

          Yes finally! Lol – only took what 3 years?

          • SP2300ROFL

            In dog years – seven months according to the Julian calendar. :)

  • Jazz

    Woo hoo! More bargain stocks today. I’m loving these markets. Buy on dips. This is amazing!

    • Rorschach

      *Insert massive facepalm picture here*. Hilarious little troll.

    • SP2300ROFL

      Careful if 1881 is violated decisevly then the move from 2135 to 1867 was likely only 1/2 the leg down

    • http://www.mindbodygreen.com Kim

      Oh my god! This is like, so amazing!

    • MaxRockatansky33

      Buy commodities. But they’ll bottom more than the overrated stocks and cheap overvalued bonds. Oil will hit 20$ soon. I bet only corporats and crooksare getting richier now

  • SP2300ROFL

    SP2300ROFL D. Boone Cooper a day ago
    I read coloring books and they’re suggesting when not if this rally fails and sp500 violates 1881 the decline likely accelerates quickly like in milliseconds and excess margin may cause very serious carnage- and likely won’t reverse quickly. Its very close now don’t get rocked to sleep without understanding the unprecedented risks

  • SP2300ROFL

    SP2300ROFL a day ago
    Sp500 looking like 1935+ on close jmho

  • Ippo

    Simple solutions for average people:
    – Buy non perishable food in great quantities (at least for a year)
    – Apply to all available public benefits (you may need to tweak your real income in order to qualify)
    – Go into real debt (50K and above) and apply for many loans as possible
    – Apply for many credit cards as possible
    – Maximize your credit cards
    – Stay out of political activism
    – Cooperate with the authorities
    – Stay home with your loved-ones all the time if possible

    In the end, your financial obligations will be discharged due to the fact that US currency will turn into a worthless medium of exchange.

    • Jerry C

      Wrong. The government is partially owned & ran by the very credit card companies & banks and passed the very laws to protect them against citizens. Getting out of debt should be your first obligation. Physically & legally own all your assets outright; especially land.

      My gut tells me that all the debt will be forgiven assuming you take the chip to join the new reset. If you choose not to, then you’ll be prevented from buying & selling.

      • SP2300ROFL

        ROFL

  • Fellie Chn

    BUY @ AVENUE CAPITAL Management –> Avenue Credit Strategies FUND –> ohh boy –> this is another close encounters of the 3rd time !

  • http://www.mindbodygreen.com Kim

    Holy moly!!! Stocks dropping like a rock.

    • Jazz

      Buy, buy, buy!

      • http://www.mindbodygreen.com Kim

        Lol. Ok!!!

        • Rorschach

          Anybody taking advice from Jazz only loses money. He has no financial background or understanding. He probably coached Warren Buffet in losing those billions.

          • http://www.mindbodygreen.com Kim

            Obviously he is not a serious investor.

          • Rorschach

            Nope. He probably lost everything by now and denies it by making these ridiculous posts to cover up his losses.

  • Fellie Chn

    I am predicting a DJI @ . . . . . 15, no, 14, no, no, 13, i see 12, yeeeesss. . . 12 . . . i see a 9 and 7. . . . 12,973 ! ! whoaaaa. . . this is hard times ??

    I also see “LAUNDER thy money in REAL ESTATE . . NO one will ever know. . ” . . now where did that come from ??

  • Barry Goldwater

    Many are relying upon conventional wisdom when referencing this market. 25 Years ago I would have agreed but this isn’t a conventional market . It’s highly unconventional in fact. The next five to seven years gains have been frontloaded ( brought forward ) with 4 Trillion Dollars in free money pumped into these balance sheets. This isn’t capitalism !
    What it represents is a last ditch effort by the Federal Reserve to create a wealth effect. It has failed to provide the illusion of wealth hoped for by the Fed.
    The realization has set in that average Americans are devoid of the disposable income needed to purchase the goods and services provided by these Companies.
    Now as the average American treads water in the ” jig economy ” Wall Street analysts ask ” why aren’t Americans spending more ” ?
    A strong economy requires a well paid and stable workforce coupled with opportunity and we have neither.
    This jig is up and the end nears for them, borrowed time, borrowed money and a grand illusion does not a sound economy make. The adhesive backing on the Band-Aids is wearing thin. The wounds of 2008 are festering anew because a Band-Aid wasn’t a cure.
    A day of reckoning and agony is near for those who haven’t paid attention to details.
    Prepare !

  • Richard O. Mann

    Boom boom, out go the lights.

  • CharlesH

    I don’t care what anyone says – we’re beyond talking about a recession. Our coming days will be much darker and more painful. I wish everyone all the very best.

  • JI

    I actually like the idea of low oil prices as that means I can afford to travel more. Why does everyone bemoan lower oil prices? No one whines when, every year, one can get better electronic widgets for cheaper than last year. And why is it called a “poor housing market” if houses become more affordable for people, and a “great housing market” when few have the money to purchase a house?

  • Richard O. Mann

    If you see mushroom clouds popping up around the country, you can bet that then it will be a world wide crash. If it gets to this point, and I really do believe it will, the US will be history. We cannot exist without our technology and all of that needs electricity. One good EMP device, and we are out of the game. After that, anyone can walk in and take over.

    • SP2300ROFL

      Psychiatric help seems advisable

      • Richard O. Mann

        Already on meds. I’m just repeating what I read elsewhere. EMP attack is one of the hot items making the rounds at the Pentagon. The powers that be are pretty sure that it will happen, they just don’t know when and by whom. Russia. Iran. China. ISIS. Fun game to play, eh?

      • Bill G Wilminton NC

        Richard 0 Mann is correct as there have been absolutely no preparations to upgrade the electric grid ( concrete hardening ) to prevent an EMP from frying the system,

        I drive an 85 diesel mercedes wagon because it is EMP resistant as it has the minimum of electronics/computers.

        You are not in touch with current exposures and EMP is one of the most prevalent dangers. The fact that you haughtily suggest someone else needs psychiatric help for reminding the Economic Collapse of the dangers of an EMP.

  • halmic

    The numbers for the Panama Canal should be available. I wonder what the 18month trend would look like for that?

    Michael, maybe you could collect all data on rail, truck, plane, and boat.

  • whatever32966

    There was an interesting article on the Zero Hedge website. It discussed how the devalued Canadian Dollar has caused the price of imported fruits and vegetables.

  • GetReal4U2

    “Our view is that the risk-reward for equities has worsened materially. In contrast to the past seven years, when we advocated using the dips as buying opportunities, we believe the regime has transitioned to one of selling any rally,”

    don’t claim they didn’t warn you…

  • http://www.iplantosurvive.info drbuzzsaw

    Me, Michael and others have been saying it for years, the end is coming, the end is coming. Well the end is now HERE. So to all you NON-PREPPERS all we can say is SORRY because that window has now closed, your to late. But we will pray for you and yours at this point that is about all we can do. God Bless and God Keep You and Yours is my Prayer.

  • http://www.iplantosurvive.info drbuzzsaw

    I read a lot of comments and people seem to think this economic collapse is either a joke or they just might have to give up their Twinkies but that’s about it….
    I am a God fearing man and I had a dream several months ago. In this dream I saw a family huddled in a living room under blankets to keep warm, there was no heat, no lights, no water nothing worked. The children were between the parents under the blankets and couldn’t see out but the parents were watching out their living room window crying and watching small gangs of young men running from door to door with clubs, knives etc. They would bust into a home and then you would hear yelling then screams and then nothing. Then the gang would run to the next house and do it all over again. The family that was shivering under the blankets with their children were crying waiting their turn. I guess the gangs were looking for food, water, weapons anything of value, then kill the occupants and move on to the next house. This is what I think is coming to America. not so funny now IS IT???

  • http://Silbershark110.wordpress.com/ Silbershark110

    Keep Calm & Buy Physical Silver.

  • Mark

    Michael,
    I was just laid off at 3M along with 1500 fellow employees. Our competitor Dupont announced 1900 layoffs with more in the future. Walmart announce 254 store closings and 4000 layoffs. The final December retail numbers came out and were disappointing. I believe 2016 will be a turbulent year and am afraid that the phony Fed will lower interest rates in the negative zone only to manipulate the markets and falsely raise the numbers before the elections and Obama leaves office. I do believe that 2017 will be the year of collapse while 2016 is the harbinger of things to come.
    Thanks for keeping us updated and keep up the good work. One thing I would like to ask you??? For people like myself that have been recently laid off how can we survive in this phony economy. I’m afraid I will not find another job that paid me what I was making. This could get real bad.
    Mark

  • horse777res

    Say goodbye to the American Dollar, say goodbye to pensions, say goodbye to all the government handouts. The rich and the poor will be effected. Welcome to the last days!!!!-!

  • horse777res

    Professing to be wise, they became fools. ” Romans 1:22

  • Anna

    I just want a simple life from all that nonsense like the banks and the welfare troubles in the UK: not everyone is strong so I plan on voting with my feet and moving to a country with no nonsense (is Panama, Costa Rica or [another country] a good candidate?): no hate towards faith, no hate towards disabled, no police state, just a simple life with freedom, compassion regardless of belief or such.

    I know I can do this without violence, and without the intrusion of the UK and the US.

  • The Future

    One can only hope that the whole thing fails and a reboot happens.
    Until everything “hits the fan”, the status quo will maintain the void that will never be bridged. Failure MUST happen before an intelligent awakening and cause morality and sensibility to take TOTAL control of the current masters of failure. All those that caused the failure need to be purged from the system permanently and effectively.

  • Archie1954

    Imagine, the grease that lubricates the World is suddenly not costing as much so travel expenses reduce, shipping costs reduce, the costs of all plastics and manufactured products that come from petroleum reduce and suddenly there is more money available to the purchasing public to spend on other things. So what does that mean? Apparently panic related to the economy. Don’t ask me why because it is completely counter intuitive!

  • Madamarcati

    China, for all of its international capitalist expansion, remains a statist communist regime. Their ruling class are educated to understand that international capital is a weapon. They are playing the Long Game against Putin’s Russia, the EUSSR, the Middle East and the Anglo-American establishment. To win this Game they are more than willing to take on the gamble of burning their own house down in order to create an economic firestorm that would effectively break the rest of the world’s postwar hegemonies.
    Expect the unexpected.

  • JB

    Whatever the so called experts say…do the opposite!!!

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