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25 Signs That The Financial World Is About To Hit The Big Red Panic Button

Most of the worst financial panics in history have happened in the fall.  Just recall what happened in 1929, 1987 and 2008.  Well, September 2011 is about to begin and there are all kinds of signs that the financial world is about to hit the big red panic button.  Wave after wave of bad economic news has come out of the United States recently, and Europe is embroiled in an absolutely unprecedented debt crisis.  At this point there is a very real possibility that the euro may not even survive.  So what is causing all of this?  Well, over the last couple of decades a gigantic debt bubble has fueled a tremendous amount of “fake prosperity” in the western world.  But for a debt bubble to keep going, the total amount of debt has to keep expanding at an ever increasing pace.  Unfortunately for the global economy, sources of credit are starting to dry up.  That is why you hear terms like “credit crisis” and “credit crunch” thrown around so much these days.  Without enough credit to feed the monster, the debt bubble is going to burst.  At this point, virtually the entire global economy runs on credit, so when this debt bubble bursts things could get really, really messy.

Nations and financial institutions would never get into debt trouble if they could always borrow as much money as they wanted at extremely low interest rates.  But what has happened is that lending sources are balking at continuing to lend cheap money to nations and financial institutions that are already up to their eyeballs in debt.

For example, the yield on 2 year Greek bonds is now over 40 percent.  Investors don’t trust the Greek government and they are demanding a huge return in order to lend them more money.

Throughout the financial world right now there is a lot of fear.  Lending conditions have gotten very tight.  Financial institutions are not eager to lend money to each other or to anyone else.  This “credit crunch” is going to slow down the economy.  Just remember what happened back in 2008.  When easy credit stops flowing, the dominoes can start falling very quickly.

Sadly, this is a cycle that can feed into itself.  When credit is tight, the economy slows down and more businesses fail.  That causes financial institutions to want to tighten up things even more in order to avoid the “bad credit risks”.  Less economic activity means less tax revenue for governments.  Less tax revenue means larger budget deficits and increased borrowing by governments.    But when government debt gets really high that can cause huge economic problems like we are witnessing in Greece right now.  The cycle of tighter credit and a slowing economy can go on and on and on.

I spend a lot of time talking about problems with the U.S. economy, but the truth is that the rest of the world is dealing with massive problems as well right now.  As bad as things are in the U.S., the reality is that Europe looks like it may be “ground zero” for the next great financial crisis.

At this point the EU essentially has three choices.  It can choose much deeper economic integration (which would mean a huge loss of sovereignty), it can choose to keep the status quo going for as long as possible by providing the PIIGS with gigantic bailouts, or it can choose to end of the euro and return to individual national currencies.

Any of those choices would be very messy.  At this point there is not much political will for much deeper economic integration, so the last two alternatives appear increasingly likely.

In any event, global financial markets are paralyzed by fear right now.  Nobody knows what is going to happen next, but many now fear that whatever does come next will not be good.

The following are 25 signs that the financial world is about to hit the big red panic button….

#1 According to a new study just released by Merrill Lynch, the U.S. economy has an 80% chance of going into another recession.

#2 Will Bank of America be the next Lehman Brothers?  Shares of Bank of America have fallen more than 40% over the past couple of months.  Even though Warren Buffet recently stepped in with 5 billion dollars, the reality is that the problems for Bank of America are far from over.  In fact, one analyst is projecting that Bank of America is going to need to raise 40 or 50 billion dollars in new capital.

#3 European bank stocks have gotten absolutely hammered in recent weeks.

#4 So far, major international banks have announced layoffs of more than 60,000 workers, and more layoff announcements are expected this fall.  A recent article in the New York Times detailed some of the carnage….

A new wave of layoffs is emblematic of this shift as nearly every major bank undertakes a cost-cutting initiative, some with names like Project Compass. UBS has announced 3,500 layoffs, 5 percent of its staff, and Citigroup is quietly cutting dozens of traders. Bank of America could cut as many as 10,000 jobs, or 3.5 percent of its work force. ABN Amro, Barclays, Bank of New York Mellon, Credit Suisse, Goldman Sachs, HSBC, Lloyds, State Street and Wells Fargo have in recent months all announced plans to cut jobs — tens of thousands all told.

#5 Credit markets are really drying up.  Do you remember what happened in 2008 when that happened?  Many are now warning that we are getting very close to a repeat of that.

#6 The Conference Board has announced that the U.S. Consumer Confidence Index fell from 59.2 in July to 44.5 in August.  That is the lowest reading that we have seen since the last recession ended.

#7 The University of Michigan Consumer Sentiment Index has fallen by almost 20 points over the last three months.  This index is now the lowest it has been in 30 years.

#8 The Philadelphia Fed’s latest survey of regional manufacturing activity was absolutely nightmarish….

The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased from a slightly positive reading of 3.2 in July to -30.7 in August. The index is now at its lowest level since March 2009

#9 According to Bloomberg, since World War II almost every time that the year over year change in real GDP has fallen below 2% the U.S. economy has fallen into a recession….

Since 1948, every time the four-quarter change has fallen below 2 percent, the economy has entered a recession. It’s hard to argue against an indicator with such a long history of accuracy.

#10 Economic sentiment is falling in Europe as well.  The following is from a recent Reuters article….

A monthly European Commission survey showed economic sentiment in the 17 countries using the euro, a good indication of future economic activity, fell to 98.3 in August from a revised 103 in July with optimism declining in all sectors.

#11 The yield on 2 year Greek bonds is now an astronomical 42.47%.

#12 As I wrote about recently, the European Central Bank has stepped into the marketplace and is buying up huge amounts of sovereign debt from troubled nations such as Greece, Portugal, Spain and Italy.  As a result, the ECB is also massively overleveraged at this point.

#13 Most of the major banks in Europe are also leveraged to the hilt and have tremendous exposure to European sovereign debt.

#14 Political wrangling in Europe is threatening to unravel the Greek bailout package.  In a recent article, Satyajit Das described what has been going on behind the scenes in the EU….

The sticking point is a demand for collateral for the second bailout package. Finland demanded and got Euro 500 million in cash as security against their Euro 1,400 million share of the second bailout package. Hearing of the ill-advised side deal between Greece and Finland, Austria, the Netherlands and Slovakia also are now demanding collateral, arguing that their banks were less exposed to Greece than their counterparts in Germany and France entitling them to special treatment. At least, one German parliamentarian has also asked the logical question, why Germany is not receiving similar collateral.

#15 German Chancellor Angela Merkel is trying to hold the Greek bailout deal together, but a wave of anti-bailout “hysteria” is sweeping Germany, and now according to Ambrose Evans-Pritchard it looks like Merkel may not have enough votes to approve the latest bailout package….

German media reported that the latest tally of votes in the Bundestag shows that 23 members from Mrs Merkel’s own coalition plan to vote against the package, including twelve of the 44 members of Bavaria’s Social Christians (CSU). This may force the Chancellor to rely on opposition votes, risking a government collapse.

#16 Polish finance minister Jacek Rostowski is warning that the status quo in Europe will lead to “collapse“.  According to Rostowski, if the EU does not choose the path of much deeper economic integration the eurozone simply is not going to survive much longer….

“The choice is: much deeper macroeconomic integration in the eurozone or its collapse. There is no third way.”

#17 German voters are against the introduction of “Eurobonds” by about a 5 to 1 margin, so deeper economic integration in Europe does not look real promising at this point.

#18 If something goes wrong with the Greek bailout, Greece is financially doomed.  Just consider the following excerpt from a recent article by Puru Saxena….

In Greece, government debt now represents almost 160% of GDP and the average yield on Greek debt is around 15%. Thus, if Greece’s debt is rolled over without restructuring, its interest costs alone will amount to approximately 24% of GDP. In other words, if debt pardoning does not occur, nearly a quarter of Greece’s economic output will be gobbled up by interest repayments!

#19 The global banking system has a total of 2 trillion dollars of exposure to Greek, Irish, Portuguese, Spanish and Italian debt.  Considering how much the global banking system is leveraged, this amount of exposure could end up wiping out a lot of major financial institutions.

#20 The head of the IMF, Christine Largarde, recently warned that European banks are in need of “urgent recapitalization“.

#21 Once the European crisis unravels, things could move very rapidly downhill.  In a recent article, John Mauldin put it this way….

It is only a matter of time until Europe has a true crisis, which will happen faster – BANG! – than any of us can now imagine. Think Lehman on steroids. The U.S. gave Europe our subprime woes. Europe gets to repay the favor with an even more severe banking crisis that, given that the U.S. is at best at stall speed, will tip us into a long and serious recession. Stay tuned.

#22 The U.S. housing market is still a complete and total mess.  According to a recently released report, U.S. home prices fell 5.9% in the second quarter compared to a year earlier.  That was the biggest decline that we have seen since 2009.  But even with lower prices very few people are buying.  According to the National Association of Realtors, sales of previously owned homes dropped 3.5 percent during July.  That was the third decline in the last four months.  Sales of previously owned homes are even lagging behind last year’s pathetic pace.

#23 According to John Lohman, the decline in U.S. economic data over the past three months has been absolutely unprecedented.

#24 Morgan Stanley now says that the U.S. and Europe are “hovering dangerously close to a recession” and that there is a good chance we could enter one at some point in the next 6 to 12 months.

#25 Minneapolis Fed President Narayana Kocherlakota says that he is so alarmed about the state of the economy that he may drop his opposition to more monetary easing.  Could more quantitative easing by the Federal Reserve soon be on the way?

Things have not looked this bad for global financial markets since 2008.  Unless someone rides in on a white horse with trillions of dollars (or euros) of easy credit, it looks like we are headed for a massive credit crunch.

What we witnessed back in 2008 was absolutely horrifying.  Very few people want to see a repeat of that.  But as things in the U.S. and Europe continue to unravel, it appears increasingly likely that the next wave of the financial crisis could hit us sooner rather than later.

None of the fundamental problems that caused the crisis of 2008 have been fixed.  The world financial system is still one gigantic mountain of debt, leverage and risk.

Authorities around the globe will certainly do all they can to keep things stable, but in the end it is inevitable that the house of cards is going to come crashing down.

Let us hope for the best, but let us also prepare for the worst.

  • bobbobbobbob

    if the rebuplicanterroristss continue to outsource and they will! the amerikkans will not grow as much as CHINA RULES U!!! u r a poor delapidated country with H-BOMBS a dangerous combination. u r a make believe demrocacy — two stolen elections. but being poor is no sin — being stupid and poor is

    • Chris

      Not sure how you can put the current situation solely on any one group other than willful ignorance.

  • Jerry

    I can’t wait!

    I’ve been short the Russell 2000 since earlier this year, with 300% leverage, Baby!

  • McKinley Morganfield

    “None of the fundamental problems that caused the crisis of 2008 have been fixed. The world financial system is still one gigantic mountain of debt, leverage and risk.”

    Globally we may be looking at somewhere north of $100,000,000,000,000 in leveraged ‘toxic assets’ listed on the cooked books as real assets. This is so huge the central bankers and politicos are secretly pooping their pants as they pray the first domino never falls. It is a vane hope. Sooner rather than later a crucial, too big to fail bank in Europe will implode or a sovereign state (Greece, Italy, Portugal, Ireland?) will default. When not if that occurs the panic will race like wild fire consuming all in its path.

    Ashes, ashes, we all fall down.

    • Brodie Baker

      Incredibly well said, McKinley. I hope you don’t mind, I copied that (and edited it slightly to be under 500 characters) and posted it on Facebook (and gave you credit, of course).

  • http://NewWorldInvestor,com Michael Murphy

    “Unless someone rides in on a white horse with trillions of dollars (or euros) of easy credit, it looks like we are headed for a massive credit crunch.”

    Yes. And someone will – we all know who. How long does it take him to create trillions of dollars of easy credit? Less than a minute.

  • Hosanna

    An old friend showed up a couple of weekends ago to visit with a sore on her mouth. I hesitated to let her in but I didn’t want to make her feel bad. Within less than one week I had sores popping out all over my face.

    What I have is molluscum contagium, a virus that affects the skin, mostly in small children, young adults, and those with compromised immune systems.

    The reason I bring this up is because I started taking 5 grams of Vitamin C in liposomal form per day (at a cost of about $1 a gram) and my skin is rapidly clearing up, along with other minor ailments.

    We need to be prepared for not just a global storm but a viral storm. This virus is something that has become quite common just this year and there are more headed our way.

    I look at this occurrence as a blessing in disguise because one of the items I plan to stockpile is Vitamin C, in just the ascorbic acid form available at most health stores and drug stores. Dr. Linus Pauling wrote extensively about Vitamin C as have others and nothing else I tried came close to eradicating my problem in less than a week when others on internet message boards have been fighting this for weeks or years.

    We must share our shortcuts with each other because time may be running out. Without access to the internet caused by innumerable possible reasons, we will have to fall back on accumulated knowledge and wisdom. And pharmaceutical companies have created as many problems as they have solved.

    I need more flashlights, and I have water bottles that should be filled up instead of sitting around empty. Better bags filled with emergency gear in case of evacuation and lots of other stuff that should be in stock at home.

    But I know I’ll never go anywhere ever again without Vitamin C.

    • http://www.planorperish.com/ Gutter Economist

      You might also benefit from some of the articles on Natural News:

      http://www.naturalnews.com/

      Americans need to start preparing for a future without Medicare.

  • Mark

    I keep hearing about the price of housing needs to recover. The high prices of real estate were based on the debt bubble. Since high debt is our main problem, another housing bubble will not cure anything. The holders of the over valued real estate loans have to take their haircut and try to nlive with it. I for one am tired of the taxpayers taking on all of this bab debt. Let the ones that fail take their pain and over time things will get better. I know it will be painful for all of us. The more that the fed or the government tries to take on more debt to fix this mess the worse that each crisis will be. They will make the big crash worse and last longer. I hope they don’t try more wars as their fix. We need smaller government and let markets over time repair the problems. To bad many will cry out for the government to fix their problems when big government is our problem.

    • McKinley Morganfield

      The real estate market has much further to fall before the market can recover. The ridiculous bubble created by Fannie & Freddie and the various federal regulations that wanted to make sure someone earning $30k per year could buy a $300k home will ultimately be impossible to re-inflate. Bernanke refuses to stop huffing and puffing on the balloon, just as he is a busy bee propping up the DJIA. He can shoot his bullets for only so long before everything crashes.

  • Old Man

    5 reasons why things are not as dire in Europe and rest of the world as reported in America:

    1) Lots of Armageddon talks about PIIGS. But only tiny Greece (GDP about 2% of EU) is in real trouble which it cannot get out without the most drastic actions. 2% – let’s not get overboard.

    2) Rest of PIIGS have high debt and high unemployment. But they are not about to default by any means. Ireland took a hit and have stabilized albeit not a happy country. Thousands of of Irish have moved to Canada and Australia to successfully find temp jobs there – thus easing domestic pressure. Portugal and Spain took strong actions and both can service all debts. Yes, their unemployment is high but these old countries have seen far worst days and people are very tough. Italy got a little edgy past months but the government took necessary measures to stabilize. So none except Greece face default.

    3) Germany, France and rest of EU are in OK shape, like UK. Their exposure to PIIGS debt can be managed but it will take some tweaking of the Eurozone mechanism. So they are now arguing how to tweak it. They are talking solution, not fear. Let’s remember EU countries have high savings, their economies are still working fine, their factories, productions, services are running as usual. They are still making the best stuff in the world. Tourism is booming. Their infrastructure is well managed, and their energy supply sound. Their political system is not corrupted and people are united to face challenges. Most importantly, Europeans are by and large a happy and tough bunch of people and they will solve their problems – their way.

    4) The rest of the western world (outside of USA and EU) are in AAA shape. I am talking of course Canada, Australia, New Zealand, parts of S America. In these countries, banks are healthy, housing great shape, unemployment low, education high to moderate, debt well-managed and saving pretty high.

    5) Asia Pacific are in fine shape overall. No crisis there – except Japan of course. But Japan does things the Japanese way and no foreigner can say right/wrong to them. Economies in Asia are overall in fine shape, debt low, saving high, currencies good, people are working and have a positive look on the future.

    6) India. Well, India is India. There is nothing wrong in India, and if there is something wrong, there is nothing foreigners can do about it anyway.

    So what’s all the Armageddon talks all over US media about the world crashing down? It’s simple: America is actually in the worst shape in the Western world and it just can’t stand going down without dragging down the world with it, and spread the blame and pain.

    • bobbobbobbob

      u r correct # 1 in divorce homicides autos stolen make believe democracy junk jobs junk health care junk country

    • DeathSpiral

      Old Man your statements are incredibly incorrect:

      1. Most of the large Euro banks were propped up by the U.S. Federal Reserve and Wall Street to the tune of Trillion$ of Dollar$. This was recently exposed due to the new Dodd Frank Bill. Many are in just as bad if not worse shape than Bank of America.
      2. Countries like Germany have prospered because of the cheap Euro compared to what the Deutsch Mark would currently be valued given their economic prosperity. If you force out the PIIGS you would have a Super Euro and it would rapidly rise in value killing exports.
      3. Don’t forget that the U.S. is the #1 Consumer Nation in the world and the Richest Country In the World. Most of these other countries are prospering due to a majority of their exports going to the U.S. and outsourcing of jobs from the U.S.
      4. The U.S. is the largest producer of food and called the Bread Basket Of The World. Most countries cannot grow enough food to feed themselves.
      5. The U.S. has the largest and best equipped military in the world.
      6. Most of the European countries GDP to Debt Ratio is much higher than the U.S.

      What the U.S. has done wrong is try to take care of the world instead of safeguarding itself.

      When you wrap all of this together to say others wouldn’t get dragged down with the U.S. is a naive statement.

      • Old Man

        Wow, classic American Exceptionsim comment here.

        Back in the mid-90’s, ex-Sec of State Albright famously said “USA is the only indispensable country of the world.” The French responded with their equally famous sarcastic attitude: “Yes, America is so powerful, it is the hyper-power.” When the French congratulate you for being so powerful, watch out. Because the French, with their long long history, knows precisely when hubris will blow things up. America proceeded to blow itself up by 25%, on schedule.

        Here is what I say: USA must fix itself. Because nobody will help, and everybody else will fix themselves first. The EU will fix itself and do it earlier than America. Count on it.

    • Jeremy

      A few comments:

      * People might be tough, but consistently high unemployment makes a country less prosperous. They may have adjusted well (and somewhat contented) to a different type of life than Americans, but it is not ideal.
      * The world has participated in corrupt monetary and banking practices. Fiat currency, and overleveraging of banks is not just in the US.
      * The Chinese notoriously underreport government debt. It only comes out through rare leaks, and their government is not obligated to release any statistics. Students in Chinese universities are protesting the underreported state and local government debt. According to Bloomberg news, state and local governments underreported debt by $500M, and have an overall debt of $1.5T. Hardly ideal. Inflation is very high, which has also led to protests in Guangzhou (southern China).

      Don’t act like the rest of the world is immune from the same problems the US has. They may not be to the same scale, but the western world (including ALL of Europe, US, Canada) will have to pay the pieper on vast social welfare programs, and the social consequences of these policies. It simply is not affordable, regardless of country.

    • Jeremy

      Also, the UK is experiencing the same housing problems as us, Spain is in economic depression, and Australia has notoriously high underemployment.

  • Maria

    Michael,

    You write great articles with lots of facts and statistics to back up your thoughts. It definitely puts things into perspective. That gloomy economic outlook certainly coincides with everything going on in our part of the world.

    All of a sudden, almost everyone in my extended family is having a very tough time. The stress level is getting to the critical point for some of them. A couple of them may lose their homes, and another already has.

    Things aren’t going any better for friends and acquaintances. Our couponing group has definitely been affected by all the rule changes the stores are making. Several people we know have lost their jobs and relied upon couponing to stretch what little money they had. It isn’t working so well anymore. People are clinging to any life preserver they can find.

    More than a few people we know went to North Dakota for work. A few others are now truck driving. Everyone is scrambling…trying to save their house, their car, put food on the table, and buy the kids school clothes. It is getting scary out here, and there just aren’t enough community resources to help people out. The food banks and pantries are stretched to the limit.

    We want to help our family and community, but it feels like we are fighting a forest fire with a thimble to carry the water.

    If this is recession…what the heck is a depression going to be like?!

    • Michael

      Great comment Maria.

      Michael

    • Alan

      Right on!

      There is no good news anywhere. I had to take a job in Afghanistan. I’m worried that this is spiraling down faster and faster. Whats at the bottom?

  • http://www.planorperish.com/ Gutter Economist

    Nations and financial institutions would never get into debt trouble if they could always borrow as much money as they wanted at extremely low interest rates.

    Not True – At some point interest will consume too much revenue (debt saturation) and cause a financial collapse. The USA has reached this point.

    Most debt in Europe is held by banks and about half of these banks are American (investors in European debt). The purchase of Bank of America stock by Warren Buffet appears to be a classic bear trap. Many small investors are going to learn an expensive lesson.

  • r.bitting

    Don’t worry Michael,there just so happens that there are a couple of riders coming on White horses ( but I would’nt listen to what the first one has to say if I were you ).

  • Knives

    Can we please just let the financial bubble pop. Im tired of just barely making it, let the cards fall where they may. Then we can fix the problems and restructure our society. Id like to see things return to the way our founding FATHERS, intended them to be. Lets use our constitution again.

  • Gary2

    It seems to me that we need a much more stable economic system than capitalism. I never hear the Scandinavian countries having such issues as you describe, maybe we need to have a capitalist/socialist mix.

    See “Capitalism is the crisis” and “Capitalism hits the fan” The later is especially good. Prof Richard Wolff puts things in an easily understandable manner. Remember that you are entitled to your own opinion but not your own facts,

    • bobbobbobbob

      correct again

    • Jeremy

      You mean a “socialist/capitalist” mix like China? That is where, depending on how much money you have, there stands either forty or one bureaucratic hurdles to starting a business. In addition, these jobs are very low pay (I have interviewed for many, trust me).

      Socialism and capitalism represent two completely different worldviews. As in China, trying to put the two together makes for gigantic social pressures (an even great income gap between rich and poor), and the overall disincentive to succeed and get ahead.

  • TucsonKK

    Only DUMMIES thought that the finicial problems were fixed. They were hidden and just covered-up. Wall Street Crooks, EU Bank Crooks, Business Crooks, State Government Crooks, and
    Washington Federal Crooks.

    Let the Crooks fall like dominions and then let the PEOPLE rebuild!!!!

    • Paul

      If the People rebuild, they shall reap the rewards.

      As this is not guaranteed, why fix the system? Let it flow. I’m prepared. I prepared my family. Why support the crooks and their followers? Let them all lose millions and billions.

  • Rowell

    I live in one of the areas that were hard hit by Irene. At home, I still have no power and no running water. Let me tell you, when you lose something so simple as electricity, your entire life changes. People on the roads are crazy and ignorant of the basic rules of the road (if you come to an intersection with a traffic light that’s out, treat it like a 4-way stop sign. Most people don’t know or observe that rule). Stores are wiped out on most of the basic supplies. Fresh meat…gone. Frozen and refridgerated foods…gone. Basic supplies such as water, toilet paper, bread, candles…gone.

    If things are going to head south, as Michael has been writing about on this blog for quite some time now, planning for the worst is a must. I thought I was at least somewhat prepared. After living 3 days without electricity, I know that I am woefully under-prepared. I have enough food, for the most part, but some of the more basic things, such as “what happens if you can’t draw water from your well” pop up, I’ll need to plan better for.

    The good that has come out of this event is I have a better appreciation for what I do have, and I have a list of things that I will need should this sort of thing happen again.

  • laura

    If you go to: my budget 360, there is an article about the FDIC being insolvent; deposits are way more than the FDIC insurance could ever pay off. If there was a bank run, it would be a disaster! We never got out of the recession that started back in 2008. The pinhead masses (and those controlling the pinhead media) say we are in recovery..what a crock of B.S. The housing crisis that started with toxic loans almost two decades ago, is the largest financial scandal in our country’s history making other scandals seem minor. Anyone who is savvy, would never trust any politician (either party), as dems. and rep. are responsible for letting this scam go on for years. Voting is just a show for the lying crooked politicians.

  • http://www.placeofrefuge2012.com Sheila

    How many more signs do you need to know the game is lost? It’s time to hunker in and watch the train wreck from a distance. If you’re not prepared, at least get some food to get you through! If you’re in a city, you won’t have an easy time. placeofrefuge2012.com

  • Billy E. Herrington

    Thanks for the greats stroies on the SGT website. I have found your articles informative and instructive. Only a completely disconnected/disinterested (and there are many) person could not see the situation for what it is. This is a creation of Central Banks and their corrupt political puppets.

  • denny

    They’re simply arranging accounts to sweep more into their own pockets (Politicians & banksters). Doesn’t matter how they do it as they will go ahead and do it. Hold on to your money. Their mantra – We want it all and we will do ANYTHING to get it – still holds true. They are only hunting for the most ‘lawful’ and efficient methods of larceny. Don’t worry – they’ll come up with one or two. They always do. Humble advice – If you don’t have your hands on your wealth, it doesn’t belong to you.

  • DeathSpiral

    Euro Collapse Predicted Several Year Ago by Lindsey Williams. According to Lindsey Williams once the Euro crashes he states then the U.S. Dollar will then ???? (watch the video for the answer). Here’s a short clip from the Alex Jones Show in Dec 2010:

    http://www.youtube.com/watch?v=8crUwG69m-c

  • callmecordelia1

    Maybe somebody can answer a question for me. Forgive me if it’s a dumb question, but I’ve been wondering for a while and maybe someone here knows the answer. My home mortgage is with Bank of America. What happens if they fail? Will my mortgage be sold to another bank? Is there any chance it will be called due? It’s not a huge mortgage, but I definitely wouldn’t be able to come up with the cash to pay it off anytime soon. We’re only 6 years into a 30 year mortgage. I’m hoping to actually pay it off within 10 years, but what might happen in the meantime?? I’m getting a little nervous. Any thoughts on what might happen?

    • Old Man

      Relax. Bank of America is not going to fail. See, it is TBTF! It belongs to a new class of business enterprise created by the amazing American capitalist economic system. Where Very Important & Connected Corporation gets to enjoy the wonders of socialism.

      So do not relax. Huh? Yes, since BoA isn’t going to fail, you’re hooked on actually paying off your mortgage. But be careful, you are not TBTF!

      • callmecordelia1

        Yes, I’m much too small to not fail… or something! :D I’m trying not to worry– what happens happens. Just wondering if anybody has any theories on what might happen if all the TBTF banks actually do fail. Can’t keep propping them up forever… can they?

  • jerry O

    Here is what I have learned by
    studying the habits of millionaires
    and what they are saying about the
    economy.

    There are 7 stages that any economy
    goes through. It happens over and over
    again.

    Someday, maybe we will learn from history:

    1. Good Money – every major empire starts out with good money, either gold or backed by gold.

    2. Social Programs – as a country develops economicall/socially, takes on more public works, adding layer upon layer

    3. Military Spending – as a nation’s affluence grows, so does it’s political influence and spends massively on the military

    4. War – nation puts military to use and expenditures explode and nations go to war

    5. Fiat Currency – to fund the war, the costliest endeavors, nations starts to steal wealth of its citizens by replacing their money with fiat currency (value decreed by gov’t and not backed by nothing). This occurs either at the outbreak of war, or previous ravages of war.

    6. Inflation – wealth transfer is experienced as hyperinflation. Results in riots eg. Egypt. Price of all commodities and goods go through the roof.

    7. Wealth Transfer- final stage, in mass movement, nation moves out of the currency and into the precious metals and other tangible assets. The currency collapses. This results in massive wealth transfer to those who had the foresight to position themselves in the right asset class in advance.

    We’re are between stage 6 and 7. This transition is just beginning. This move represents the largest transfer of wealth in the history of mankind. People will either end in poverty, or wealth, depending on whether we prepare NOW. This cycle is predictable as for eg. Roman Empire.

    Take the advise of a millionaire.

    See what he is saying about our
    economy and how we can prepare:

    Free Video-

    How to Profit like the Ultra-Rich in Times of Economic Chaos

    http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bid=290b868b&chan=y

    I know this info will help you

    • Old Man

      You miss out step 8.

      It is called revolution and regime change.

      History confirms it.

  • Jim in Ohio

    I just accepted on offer on my house. It was way too expensive for me. I’m taking a haircut but boy am I glad to be getting out of this housing market before the next disaster strikes.

  • http://TulsaChange.com Tulsa Liberty

    Thanks for putting out these lists like this, it is very informative and breaks big ideas and stories down for all to plainly see. Keep up the good work :)

  • kalord

    http://www.formypeople.org the dream entitled entertainment vs. truth tells of whats about to come. Read and take heed guys.

  • Ken

    Usury kills. Go to moneymasters.com and learn how the world could turn tragedy into prosperity in one or two years. Of course the only big losers in the offered solution would be the extremely rich and they may lose anyhow.

    • Jeremy

      I recommend the movie called “Money Masters: History of the Federal Researve.” It in on youtube, is long (3 hours 36 minutes), but an excellent explanation of our financial problems.

  • Brandy

    Here we go again. I just don’t see an end in sight so welcome to the new America where you to can lose your home and starve to death.

  • http://theincendiaryinsight.blogspot.com DW

    Thank God that an asteroid isn’t heading to Earth to kill all of us, cause if the fate of humanity depended on our government saving us, we’d all die. They’re suicidal in their tendencies and expect us to thank them for trying to destroy us.

    They’re disgusting.

    • r.bitting

      DW- “Thank God that an asteroid is’nt heading to Earth to kill all of us”….. Research Comet Elenin.

    • Old Man

      Yes, but it is YOU who put them there.

      In a democracy, you get what you deserve.

  • http://www.hotbedinfo.com Kyle

    Thanks for the article. With the economy about to collapse we should learn how to survive on our own.

    10 ways to become self sufficient
    http://hotbedinfo.com/2011/08/10-ways-to-become-self-sufficient/

  • Patriot One

    Its all true, but the stock market is up.

  • JackieR

    Let it all fail. Main street is already in a Depression. Now it is time for the financial area to take a hit.

  • Helix

    Re: “#17 German voters are against the introduction of “Eurobonds” by about a 5 to 1 margin, so deeper economic integration in Europe does not look real promising at this point.”

    Since when do the voters have anything to say about it? American voters were against the 2008 bank bailouts by more than 9 to 1 by some estimates. This had absolutely no bearing whatsoever on the course of events.

    Voters shmoters. The overwhelming majority of senators and congressmen who voted for those bailouts and ran for reelection are still there. The wimpy, cringing American public who couldn’t even muster the cajones to throw out the bums who sold them down the river and crush the corrupt and fraudulent electoral system that keeps them in office is getting exactly what it deserves. I’m guessing that the European public is every bit as wussy as the Americans, and will receive similar treatment.

    • Old Man

      Do not equate German or French votes with American. DO NOT!

      Get the German angry and old ‘little Hitler’ devils can appears. They can rearrange the entire government in one day. It ain’t pretty.

      As to the French, well, haven’t you seen those 1 million march or strike on something as trivial as relabeling the French wine?

  • http://goto.glocalnet.net/pdn/ Perdavid Nygren

    Everyday we hear about cruel Syria and how NWO are failing to kill Kadaffi, then sport and weather. Then we go to sleep after more sport and weather… then we wake up to another day of status quo with “economic recovery” and crusader Obama in the middle-east… and the omni-potent threats of us “evil humans causing global warming”. On and on it goes until our brains are turning into a sauce that are flowing out through our ears. This world is like a bad Sci-fi movie on very low budget.

  • pauly

    Greece needs to exit the E.U.

  • C-Dub

    Fantastic analysis as usual! Thanks for continuing to provide a place we can come to read about these changes that seem to be happening at lightning speed. Great job!!

  • Ghulam

    As we watch this financial catastrophe unfold should we not all be thankful for the sake of untold generations yet to be born? When the US military, with the help of Einstein, Oppenheimer, and Teller, gave safe, clean, clean nuclear power to the world, soon after proving its power to kill civilian cities, and when when they went on to build a line of nuclear reactors all around the Pacific rim, they crossed a moral line in a way that had never really happened before, even under the most rapacious empires. They threaten to poison all life on earth for eons to come. The recent accidents in Japan raised infant mortality in many North American cities, but only of course in places where good records are kept. The American government and its camp followers are now an enemy of everyone so appalling that their total destruction should be the primary goal for every right-tinking man alive? Who else on earth has ever been so evil before? How can we not now dance and sing and celebrate as these Mammon worshiping pagans bring about their own destruction? What would serve the future needs of the billions of poor on this planet and all the other creatures more than a total collapse of these modern materialistic Mongol hoardes and their centuries of colonial domination?

  • Dave

    Congratulations on having this posted on Zero Hedge!

    Fabulous article! It wont be much longer until the house of cards collapses.
    Sadly, the average american is busy watching “junk” TV and doing nothing to educate themselves or prepare accordingly. This web site provides the education that you don’t get any where else! I keep buying silver ever week. It will go up when the financial system collapses. Dont forget your extra food and guns.

    • Michael

      Thank you. I was not even aware that it had been picked up on Zero Hedge.

      Michael

      • Dave

        As of 9-2-11 your article had over 46,000 “reads” on their web site alone! Most savy investors go to Zero Hedge as Tyler has a huge following in the financial world. When it comes to discussing “the truth” about this country, your web site is the best.

        I LOVE THE IMAGE OF THE SINKING BOAT!….KEEP IT UP THERE!

        • Michael

          I am glad when my articles do well on other sites. I actually know of some of my articles that have had millions of views on other websites. That is good for those sites that run my articles, it brings a little bit of traffic back here, and it helps to spread the word to more people.

          Michael

  • Jack

    So long as the crooks run the show, they’ll keep printing money. Only war can stop the madness.

  • Rednano74

    The entitlement and welfare state in Europe is about to come to an end despite massive govt taxation on their economies (as high as 70% of GDP) and regulatory controls. You can only prop up Socialistic economic schemes with high taxes, borrowing and printing of money for so long before it all comes crashing to the ground because eventually you will run out of two of the options while the other becomes worthless.

    Once Greece goes, the domino effect in Spain, Portugal, Ireland, Italy, the U.K., etc. will follow creating a devastating ripple across the Atlantic to the U.S.

    Newsflash to Democrats and some Republicans: If higher taxes, more entitlements and more regulations were the answer, Europe’s economy should be thriving and those governments would be showing massive surpluses. Instead, the exact opposite is happening.

    Unfortunately, America over the last century thanks to Wilson (FED and IRS), FDR (Social Security) and LBJ (Medicare and Medicaid) has set up America to implode.

    This was all predicted…and no new tax scheme is going to fix the financial problems of dependency on government – 80 million checks go out every month.

    I honestly don’t think the sheep and cattle have a clue because they believe the government makes the sun rise and the grass grow everyday. The government’s bogus numbers on unemployment and inflation while their cheerleaders in the left wing media ignore reality aren’t going to help you.

    Are you prepared???

    Fight for freedom and liberty, not enslavement to the government.

  • http://www.gold-prices.biz Bob Kirtley

    This article paints a grim picture for all us, however it had to be said and this post says it very well indeed.

    Having been warned we all need to prepare the best way that suits our particular needs. Gold and silver are our back stops in the financial sense, however, each to their own.

  • liberranter

    The world financial system is still one gigantic mountain of debt, leverage and risk.

    You forgot to add the most important word of all: FRAUD

  • VegasBob

    The real problem all over the world is too much debt. Debt requires principal and interest repayments. Increasing debt means increasing repayments. A nation’s economy can divert only so much of its production to debt repayment before it has to cut current consumption to keep meeting the debt payments. Eventually, excessive debt causes a downward spiral into recession and depression. This is a mathematical certainty.

    This is also why our illustrious Federal Reserve Chairsatan, the pathological liar Ben “Bernokio” Bernanke, cannot possibly raise interest rates ever, without triggering an economic collapse. Can you imagine what would happen if interest rates on US Treasury bills went from 0.05% to 5.00%? Federal deficits would simply explode as annual US government interest expenses quadrupled or quintupled.

    At this point the best possible outcome is going to be years and years and years of economic stagnation here in the US.

  • http://willanystand.blogspot.com ex VRWC

    You are monitoring many of the same sources I have been. I just watched something about the 1900 Galveston hurricane that ‘snuck up’ on the city and I think we may be in a similar situation now. The ‘instruments’ the public is reading reading (ie, the DOW, S&P, etc) are not great predictors. There are other troubling signs that are starting to flash red. The biggest issue is that there is that the credibility of governments and central banks is in the crapper this time, meaning there is really little ‘authorities’ can do when this hurricane starts to hit. In other words we will be on our own. Like Galveston, I think it will start slow but rapidly build up to devastation. I hope not but I am fearful.

  • Jase

    Interesting website. Been reading up on the posts, articles and advice here and found the writing to be informational with nice quotes and citations. Many of the topics covered here have been on my mind for the past few years and I have been preparing for disaster for awhile.

    What gets to me is unless you are really well off and can afford a place that is well stocked and secure away from the city or you can live off the land with a few other folks you are going to be screwed sooner or later.

    If my supplies don’t get crushed and I live through the initial disasters or chaos I can last for a few months staying in place, but what then?

    It would be total chaos if people lost the internet, power, etc., for weeks/months and so many emergency, police and even military are spread so thin that in a huge global change with massive riots and mobs I just don’t see what exactly a small family or small group could do if they did not have a remote base to flee to.

    I’m not making light of the topic, but it always reminds me of the zombie apocalypse, the movies with the killer virus/disease or alien invasion. It’s really all the same thing – TEOTWAWKI

    In that case you’ll have people who are determined to survive no matter what, sheep who will be slaughtered and their resources taken, but the vast majority I imagine would be like me. Prepared for a disaster and could live for several weeks/months without any help, but what then?

    • David M

      Disaster has hit humanity through the ages. The survivors pick up the pieces and move on.

      In this day and age of specialization and technology. We have moved away from of living off the land.

      I’m in the same boat. Been in IT since 1996. But I have a year of food. Have some laying hens. Planning on some meat rabbits. Have plenty of heirloom seeds and plan on getting the gardening skills up to speed.

      In the event of a collapse Jase. You are your own boss. 100% of your effort goes to you! Awesome isn’t it? Yes, life will be tougher without electricity and water utilities. But those will come back in time. The New America will be one where you work or don’t work and starve. No more leeching off the hard working people.

      With some knowledge and effort. You can produce your own food AND have some quality time/life.

      Read up on skills that you can barter. Knife making, boot making, electrical repair, herbology, etc.

  • Mad Max

    I love these posts. 99 ways to kiss your sister. 22 ways to spank your mother. 1 million ways to tell if the american people are smart enough to save their own bacon.

    WAKE UP PEOPLE!” – If you are an American, you have to Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

    We’re on the move!

  • Abia The Cat

    Why not let Greece fall flat on it’s face and help with the rebuilding where it’s needed most? Holding this off is only prolonging the economical healing the world needs right now.

  • Laticia

    Michael,

    It says something very nice about you as a human being that you let my occasional critical comments appear.

    I understand that you try to make the collapse comprehensible to your readers, but I don’t believe it’s necessary to beat around the bush.

    “Authorities around the globe will certainly do all they can to keep things stable, but in the end it is inevitable that the house of cards is going to come crashing down.” Wrong premise. The “authorities” (power hungry thieves, really) have engineered this collapse–and they are not going to try to put a monkey wrench in their own works.
    “Things have not looked this bad for global financial markets since 2008.” Yes, they have. You are accepting the official story. In reality, 2008=2009=2010=2011. All this is simply the beginning of a humungous, engineered, bust, and 2009-2011 have been part of if.

    Of course you are right about the main point. There will be collapse, riots, massive suffering sometime in the next 3 years or so–all of which will be used by the bankers for the final take-over. They already have 50% of everything we earn, they own the politicians, judges, media, schools, major corporations–but now they want 99.9%. And, unless we all start resorting to plain speaking and wise strategizing, the bankers will achieve their dreams. The R&R (Rothschilds and Rockefellers) are already far more powerful than Hitler or Julius Caesar ever were–and they–the R&R– are just starting!

  • Highspeed

    I just saw a report on tv where local hospitals are starting to make big lay-offs. It seems that local and state monies are starting to run out. This will obviously affect the care we get along with the cost of getting sick.

    Medical problems during a meltdown is one of my biggest concerns. I would like to hear some of the blogger’s ideas on what you are stocking up on medically. I would like to get some anti-biotics, but I haven’t been sick and don’t have any. Can a person really get a prescription from Canada without a script, anybody know?

    Medical issues are why I will have a stash of silver coins, to hopefully get limited help from Doc’s and meds.

    • uncurable wound

      Allright Highspeed,but you still owe me some Beans-LOL.Here is a great site,this Doctor gets it.
      http://www.survivinghealthy.com/?page_id=100

      Im still looking for a dental kit,if anyone has heard of one.Teeth are huge.

      http://www.hesperian.org/mm5/merchant.mvc?Store_Code=HB&Screen=PROD&Product_Code=B030

      I just ordered this book,Ive heard its good..
      FYI-Like a lot of people I keep old meds in the freezer.I have pain killers from years ago,and they are just fine.DO NOT FREEZE-penicillin,or amoxicillin,it kills it.Keep it in the fridge,NEXT TO ALL YOUR BEANS!!!-LOL
      Peace to you…

      • Highspeed

        Thank you Incurable Wound.

    • Old Man

      Sorry, the Canada prescription drug supply line has been shut down by Congress & drug companies. See, it is a crime to hurt the profit of Big Pharma.

  • ConcernedCitizen

    Thank you for your analysis and warnings! Great article! May Almighty God have mercy on us all.

  • SMASH THE CONTROL MACHINE

    Welcome to planet Earth 2010! Nowadays in this wicked world you can trust no one. The only one you can trust is yourself. The only one you can lean on is God. We the United States of America are propping up a fake economy. Based on lies and funded by the hard working tax payers, we are and oppressed nation. But here in the land of the free and home of the brave, one of the “greatest countries in the world”, the poor are getting poorer and the rich are getting richer. The top 1% of Americans’ salaries are more than all other 99% combined. Something isn’t right here. The “have nots” need to stand up and fight against the “have yachts”. I feel a great deal of sadness inside. Slaving away for the man, forking over 1/3 of my paycheck to help fund the war machine, line the fat cat banksters wallets, and pave the world. I didn’t support the war in Iraq or Afghanistan. I didn’t ask for the bright and shiny new four-lane highways. I want MY money spent on education and programs that support WE THE PEOPLE, not the super rich. I don’t want MY money going to build the prison system that is holding more than 80% non-violent offenders. A majority of arrested citizens are spending only 70-80% of their sentences due to over crowding. In my experience of only 24 years I have learned that the more disinformation put out by the main stream media and the freedom isn’t free propaganda the more sheep like we as a nation become. I am more scared of the state and the police than I am of the local drug dealers and gangbangers. The more scared you keep the public the sheeple the easier they are to control. They want us to give them All our money and say nothing! Well guess what? I am tired of sitting here and saying nothing, the oppression has gone TOO FAR! How long until the point of no return? When will Jesus come for me? When will the people finally say enough is enough?

    • http://Laticia1957@yahoo.com Laticia

      To Smash,

      Jesus is not coming for you or anyone else. You have to stand on YOUR own two feet and face the horrors of this world, and also the joys. This is exactly where the controllers want us to be: Waiting for Jesus, instead of doing Jesus’ work by fighting back. That is the true meaning of His mission, that we fight, not pray, for justice.

  • dmitry

    thanks for posting.

  • The Spaniard

    The root cause of the developing crisis is the debt-based, commmercially issued money supply. But why should a supposedly sovereign people not issue their own debt-free medium of exchange? Watch Bill Still’s excellent documentary The Secret of Oz to find out more.

    http://www.youtube.com/watch?v=swkq2E8mswI

    • McKinley Morganfield

      Bill Still has been on this like a flea on a dog for many years. I second Spaniard’s recommendation.

    • Ian

      Guernsey, in the Channel Islands, has issued its own currency for many decades (at least since the 50’s when I grew up there) and seem to to so with some success

      The local currency is valid only on the Island but UK currency is also acceptable.

      Way to go?

      • a cruel accountant

        No. Allow a free market in the currency. That is the way to go.

    • MonsantoSucks

      Agreed. It’s a wonder why no one is talking about it, such as, Max Keiser or Alex Jones?

  • Duinsnip

    9-11 was a foretaste of what will come!!!!!!!

    Rev.18:[9] And the kings of the earth, who have committed fornication and lived deliciously with her, shall bewail her, and lament for her, when they shall see the smoke of her burning,
    [10] Standing afar off for the fear of her torment, saying, Alas, alas, that great city Babylon, that mighty city! for in one hour is thy judgment come.
    [11] And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more:
    [12] The merchandise of gold, and silver, and precious stones, and of pearls, and fine linen, and purple, and silk, and scarlet, and all thyine wood, and all manner vessels of ivory, and all manner vessels of most precious wood, and of brass, and iron, and marble,
    [13] And cinnamon, and odours, and ointments, and frankincense, and wine, and oil, and fine flour, and wheat, and beasts, and sheep, and horses, and chariots, and slaves, and souls of men.
    [14] And the fruits that thy soul lusted after are departed from thee, and all things which were dainty and goodly are departed from thee, and thou shalt find them no more at all.
    [15] The merchants of these things, which were made rich by her, shall stand afar off for the fear of her torment, weeping and wailing,
    [16] And saying, Alas, alas, that great city, that was clothed in fine linen, and purple, and scarlet, and decked with gold, and precious stones, and pearls!
    [17] For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
    [18] And cried when they saw the smoke of her burning, saying, What city is like unto this great city!
    [19] And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas, that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

    • Steve

      Oh spare me the biblical bullsh*t!

      • http://321gold.com neville

        What is printed in the BIBLE is history and History as we all know with out doubt has a habit of repeating itself.

        So Steve you and others that squirm from THE TRUTH had better get used to it as it starts having its way with the human race.

        By the way Steve and others like you, I have a question for all of you ,WHAT PERT OF THE TRUTH HURTS???

        • who

          Who’s story?

      • Robin

        Biblical Bullsh*t?? Everything that is happening right now is in the Bible. As is what is going to happen next, and it is not pretty. Please, pick up a Bible and start reading, or talk to a man of the cloth. You don’t have to believe as I believe. Just please be aware that these things are coming to pass, just as it is written in the Bible. The seventh seal has already been broken. Now we wait for the seventh trumpet to sound, and all hell will break loose. It’s not far off my friend……..

        • harriet

          so what happens when the seventh trumpet sounds? will the world end? if so what and how?

        • Sue

          Robin, the 7th seal has not been broken, since the first seal, that of the arrival of the anti-christ, has not happened yet. We are currently NOT in the Tribulation, but it is coming fast!

          Whether people choose to believe in the Bible or not, it is happening. People can bury their heads and deny it…doesn’t mean it isn’t happening. It is up to every person to choose! Choose wisely my friends! Read the Bible for yourselves and see why we have already been given a Savior. Just acknowledge, believe and trust in HIM alone!

          Blessings to all!

      • Steve C

        It may be biblical bullsh*t to you, but it’s truth. Whether or not we’re going to see the times described in Revelation in the next few years or not, I don’t think we’re in for an easy ride either way. At least I don’t plan to be here for the times described in Revelation 18! :-) I Corinthians 15:52

        • madmarc

          The bible is more fiction than fact, more parable than possible. I’ve read it cover to cover and is it so easy to take out of context, particularly when times are hard. Bilical bullsh*t is appropriate. if the world ends you’re all going to the same place.

          • http://www.amazon.com/What-So-Proudly-We-Hailed/dp/1453672435 James Howard

            I believe the Bible is truth, but mankind has been in equally dire straits in the past. Economic cycles are inevitable, and they’ve got more to do with human psychology than finances. So whether or not this is THE END, I think it would be wise to prepare for the worst. Stock up on extra food, have some alternate forms of money, prepare to defend your homes and families, have alternate sources of power and water, and get to know your neighbors. If it’s not the end, we’ll get through it, but it will be an historical series of events we’ll all tell our grandchildren about. Have faith and God bless you all. – James Howard, author of “What So Proudly We Hailed”, a novel of surviving America’s last days.

  • http://www.thinkingworlds.com/?p=1092 Euro Destruction

    There is a way out of the current Euro crisis and we’ve put together a 60 second playable game that will let you decide Europe’s Fate.

    This is our quirky take on where the Euro is going…

    Play Euro Destruction online now

  • QTpie

    Interesting article. Thank you for taking the time to put this together.

    @ Highspeed

    There are basic supplies that everyone should have and there are supplies that may be specific to a specific health condition. For those of you relying on a specific medication discuss what lifestyle changes can be made so that you could wean yourself off the meds (if that is possible). Also learn local wild medicinal herbs, grow zone appropriate herbs that you can use medicinally, network with others who have herb making skills and medical skills. Have basic bandages, cleaning solutions, etc.
    I would also stock up on Vitamin C (I believe someone brought this up in an above post). Make sure it is a good quality product without fillers, dyes, artificial colors, etc.
    COLLOIDAL SILVER (Get a good quality source)
    ECHINACEA, VITAMIN D, OLIVE LEAF.

    Echinacea is easy to grow and it grows even cold zones. Echinacea is a great immune boost when you first feel a cold/flu coming on. It can reduce the days of being symptomatic. Research and discuss with a good health care provider before trying ; )

    Vitamins/supplements that MAY help the immune system include
    D, K2, E, Curcumin, Selenium, krill oil, acidophilus, KELP, zinc (many are deficient in).
    Eat foods (& GROW) garlic, onions, brocoli, mushrooms (Chaga, Reishi, Maitake).

    Also gather medicinal books.

    Sometimes something natural can work for a person, it is unfortunate that many health (SICK)-care providers do not try the least invasive approach first. This is due to a lack of education for providers in the field of nutritional/alternative health.

    For example if you have sore muscles try arnica oil.
    Got a headache try feverfew or white willow.
    Can’t sleep try melatonin.

    Anyway hope that helps a lil

    • Highspeed

      Thank you very much.

    • Rusty Brown in Canada

      Don’t forget Oil of Oregano. Marvelous stuff, in my experience. Natural antibiotic.

    • Lehigh62

      Thank you and others for the interesting list of things to do and get to be prepared. Am getting my own together. Time to go back to the pioneering lifestyle. Am taking your tips and many of those below and compiling what will be needed for survival on our tiny little piece of planet earth.

      Thankfully, I’ve got the skills needed to survive for the most part. Wish others did, but like the story of the grasshopper and the ants, they seem content to fiddle all day. Their loss.

      There is much at stake here. We need to get our collective act together. Wish you all a safe trip as we go through this and hang on, cuz it’s gonna be a bumpy ride!

    • Doug

      Here are some hurricane tips that can be useful after an economic storm too.

      DON’T operate generators or BBQ grills inside, carbon monoxide from them will KILL you.
      DON’T wander around after the storm looking at damage, concealed downed power lines will KILL you.
      DON”T back-feed your electrical panel with your generator, you can KILL a worker fixing the power lines!
      Fill your tubs up with water to flush your toilet with.
      Freeze ice to put in your fridge when power goes out
      Buy a cheap bbq grill and some disposable propane tanks to heat water, and cook food. Cook up raw meats and they will last longer in a cooler or refrigerator.
      Don’t forget INSTANT coffee
      Don’t tape your windows
      Use 8-10 drops of PLAIN (non-scented) clorox bleach to disinfect 1 gallon of drinking water, slightly more if the water is dirty.
      Stay in an interior room of your home on the lowest floor during heavy wind and tornadoes
      Stay away from windows and doors
      Put furniture against any inward swinging exterior doors, and keep windows CLOSED!
      Buy Extra Pet food
      Put important papers and medicine in a Ziplock bag inside a dryer or washing machine
      Secure outdoor items
      Keep guns and ammo handy
      DON’T cut your grass, long grass will keep debris DOWN and wind over it.

  • WTF

    wow i responded to highspeed and it got deleted. : (

    There was a ton of helpful info. why the deletion?

    • Michael

      I am not sure. There are certain kinds of things that unfortunately I cannot allow to be posted. But the vast majority of the time I try to let everyone have their say.

      Or it could have been a technical bug. Those have been known to happen. :(

      Michael

  • http://revolutionenlightened.blogspot.com/ Dead Rower

    Michael, once again a great post. You have inspired me to start my own blog. I encourage any readers of this blog who are interested in the thoughts of a young person who is aware of the coming collapse to check out my blog. http://revolutionenlightened.blogspot.com/

    Michael, I have already, and will be frequently linking my posts to yours on this website, due to the treasure of accurate information you provide to all of us. Thanks again.

    • Michael

      That is great. I always encourage others to do all that they can to wake people up. Some people are great at making YouTube videos. Others are great at organizing rallies. Others are great at writing books. Others do amazing radio shows. Even if you just take some information and share it with your family and friends you are making a big difference.

      We all can do a part to help America wake up.

      Michael

  • laura

    Highspeed: One website is : when there is no doctor, another is Armegeddon medicine. Google in various subjects. Jim Rawls site has info. (survivalblog). Get antibiotics from pet supply stores. My husband, sister, are on Synthroid, friends are on insulin ( for type 1 and 2) and some take heart bypass meds. It will be ( if things go to pot)life threatening to many. Check natural cures for (name the disease)and buy items now. For ex: for high B.P. get fish oil, cal-mag, certain herbs, etc.

    • Highspeed

      Thanks Laura, I have visited survivalblog many times too. I’ll check out the pet supply store, great idea.

  • SMASH THE CONTROL MACHINE

    DO THE MATH!!!Here is an example of why hiring illegal aliens is not economically
    productive for the State of California…or any other state for that matter.

    You have 2 families…”Joe Legal” and “Jose Illegal”. Both families have
    2 parents, 2 children and live in California . “Joe Legal” works in
    construction, has a Social Security Number, and makes $25.00 per hour
    with payroll taxes deducted…. “Jose Illegal” also works in construction,
    has “NO” Social Security Number, and gets paid $15.00 cash per hour
    “under the table”.

    Joe Legal…$25.00 per hour x 40 hours $1000.00 per week, $52,000 per year ..
    Now take 30% away for state & federal tax..
    Joe Legal now has $31,231.00

    Jose Illegal…$15.00 per hour x 40 hours $600.00 per week, $31,200.00 per
    year, Jose Illegal pays no taxes…
    Jose Illegal now has $31,200.00

    Joe Legal pays Medical and Dental Insurance with limited coverage
    $1000.00 per month $12,000.00 per year
    Joe Legal now has $19,231.00

    Jose Illegal has full Medical and Dental coverage through the state
    and local clinics at a cost of $0.00 per year.
    Jose Illegal still has $31,200.00

    Joe Legal makes too much money to be eligible for Food Stamps
    or welfare – Joe Legal pays for food $1,000.00 per month $12,000.00
    per year – Joe Legal now has $ 7,231.00

    Jose Illegal has no documented income, so he is eligible for Food
    Stamps and Welfare – Jose Illegal still has $31,200.00

    Joe Legal pays rent $1,000.00 per month – $12,000.00 per year
    Joe Legal is now in the hole minus (-) $4,769..00

    Jose Illegal receives a $500 per month Federal rent subsidy ..
    Jose Illegal pays rent $500.00 per month (section 8 housing)
    $6,000.00 per year – Jose Illegal still has $25,200.00

    Joe Legal now works overtime on Saturdays or gets a part time job
    after work or his wife must work. Jose Illegal has nights and
    weekends off to enjoy with his family (and eat out!).

    Joe Legal’s and Jose Illegal’s children both attend the same school.
    Joe Legal pays for his children’s lunches
    Jose Illegal’s children get a government sponsored breakfast & lunch,
    and they also qualify to be bused to school at tax payer expense.

    Jose Illegal’s children have an after school ESL program.
    Joe Legal’s children have to find a way to get to school and go home
    after school as, “latch-key kids” with no adult supervision.

    Joe Legal and Jose Illegal both enjoy the same Police and Fire Services,
    but Joe paid for them and Jose did not pay.

    Jose Illegal can send most of his money back home to Mexico to build a
    new home for retirement, and have money to buy a new truck
    (and still have Medi-Cal benefits while living in a foreign country;
    until someone turns him in to authorities….if they ever find out)

    Joe Legal is still in the hole.

    Any questions?

  • carsten

    Good article overall, but in this comment, the author is wrong:
    “…the EU essentially has three choices[…]:
    a)..choose much deeper economic integration,
    b)… choose to keep the status quo going for as long as possible…,
    c)…choose to end of the euro ….”

    First, b) is just a stop gap which will eventually lead to a choice for only a) or c).
    Thus, in order to avoid any choice (typical for politicians, see the recent US debt-ceiling), kicking the can down the road will be the m.o.

    Second, once only a) or c) are left, it is a) which will be chosen, not c).

    The author states that there is little political will for a).
    Looking at the general population, that appears to be true NOW, but in crisis times, that can change on a dime.

    More important thought is the fact, that the general political will is irrelevant.
    The will of the establishment/elite, far from being anti-integrationist, is all in favor of pan-Europeanism/further integration.
    Really just another step towards their beloved one-world government, for EU has been the research lab for many years.

    No need for conjecture or conspiracy theories on this point.
    Helmut Kohl, once out of office admitted that he wanted the EURO even in its imperfect form and with its many problems, because the crisis that would come up in the system would then lead to further integration.
    He saw the EURO as a tool to help in this integration process, against a really unwilling population.
    Thus the EURO had to be subservient to a larger cause, and its problems were the price to pay for achieving this overall goal.

    If that was the m.o. then, it has not changed.
    Rahm Emmanuel expressed this same reasoning with his famous: “never let a crisis go to waste” comment.
    As callous as that could be for an exogenously induced crisis, the one of the Euro is not exongenous at all, it was imminent to the thing itself. No negligence here, or unfortunate oversight, the problems, thus the crisis potential for the EURO was known, and the resolution for it, more integration, the wished-for solution.

    There is NO credibility to the argument that the EURO was Germany’s price to pay for Mitterand’s acquiescence to German reunification:
    That was “approved” and completed LONG before even the Maastricht treaty was passed (1992), and a decade before the EURO was fully there )2001).

    If an unwilling Kohl (and Germany) had been blackmailed in 1990 by France and the allies into agreeing to the EURO to gain reunification, what would have stopped Kohl/Germany from backing out of the EURO (either via Maastricht or later)?
    Nothing! What could the “blackmailers” have said? Publicly, nothing, and factually, even less. Could they have rolled back the reunification? Hardly.

    Kohl, and the pan European elites WANTED the EU, agains their peoples’ will, for the above reason.

    Thus, it is option a) that will be chosen.
    Whether they will, succeed remains to be seen of course.

  • buy american

    Nothing about the chinese economy crumbling in a few years?

  • Linda

    @Duinsnip: “Unless someone rides in on a white horse with trillions of dollars (or euros) of easy credit,”…how prophectic!! That some one has always been recognized as the false messiah aka anti-Christ(other than). How coincidental! Revelation 6:1-17; vs.2 and I saw , and behold a white horse: and he that sat on him had a bow; and a crown was given unto him: and he went forth conquering and to conquer., 2nd seal peace taken, 3rd seal famine, 4th death, 5th martyr, 6th seal anarchy, and a great earthquake,sun became black, moon became as blood,stars fell unto earth, mighty wind and heaven departed… birth pains have already started, these are the final labor pains. When they come you can’t stop them! Seems Pandora’s box has been opened! Arab Spring leading to Muslim Brotherhood control of Mdl. East! A war brewing! It’s all working together.

  • http://YAHOO.COM a.p.

    The U.S. Postal Service is on the verge of collapse, with September 30, 2011 the date it becomes insolvent, unable to pay its bills.
    It employs 550,000 people directly and 7 million
    indirectly. Imagine what the collapse will do to the unemployment rate and our economy when this happens. Please, starting tomorrow, mail ALL your bills in with stamped letters, and do not pay any bills online. Keep doing this forever.

    If we all do this, we can avert the final death blow to our economy. Otherwise we are all doomed.

  • Gary2

    Michael-I have held off saying this but is there any way you can have a web site where people can post all the religious crazy talk like there white horse/666 dribble?

    Do people really believe this stuff??? Really?

    How is writing this sci-fi stuff helping anything? It is no wonder this country is in such a mess if this is the best many people have as solutions.

    10] Standing afar off for the fear of her torment, saying, Alas, alas, that great city Babylon, that mighty city! for in one hour is thy judgment come.
    [11] And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more:

    • Michael

      Gary:

      You have probably noticed that I try to allow as much free speech as possible.

      After all, I have had numerous calls to censor your comments promoting socialism and I have not done it. :)

      As for Bible prophecy, it has an amazing track record so you should check it out some time.

      Michael

      • Brandy

        Perfect answer…. Thank you.

      • Jean

        EXCELLENT response, Michael!

        I would suggest to Gary2 start a blog of his own, and collect like-minded people to respond to HIS notions if he feels the need to change things so much.

      • Gary2

        Point well taken Mike-can you point me in the correct direction on bible prophesy?

        I guess IMO-my socialist ideas will actually solve many of the problems of the country while all the religious crazy talk about Babylon and beasts and 666 will not. :)

        • Michael

          Gary:

          I am glad you asked. :) Some of the first places that I like to take people to are Psalm 22, Isaiah 53 and Daniel 9:24-27. There were dozens of very specific prophecies that were fulfilled by the first coming of Jesus Christ.

          For an easy to understand book that will introduce you to a lot of these concepts, I would recommend “Christianity: The Faith That Makes Sense” by Dennis McCallum.

          -Michael

          • r.bitting

            I’m proud of you Michael, did’nt know you had it in you.

    • Rusty Brown in Canada

      Yes! Thank you. I couldn’t agree more.

    • csch

      Hmmm, those verses from the bible…remarkably like the destruction of the WTC.

  • Eric

    The “white horse” here is the Fed, ECB and associated “soverign wealth funds” including China, Brazil, Saudi et al, to get together and buy up the debt. Similar to the Fed’s QE2 but on a truly global scale.

    Once done, they can ‘retire’ some of the nastiest debt, restructure what’s actually in good shape and sell at a discount, while holding the rest on its books and rolling it over upon maturity.

    That’ll fix it, at the cost of sopping up the cash reserves of nearly every central bank on the planet. And then hiding everything through an opaque process that lets them do whatever they think makes sense.

    Essentially wiping the slate clean.

    Doubt it’ll happen, but the alternative is unthinkable, and the precedent is clear based on recent history.

  • Bletsu Fatsamatta

    I’m looking at short ETF to ride the whirlwind to some profitability. Before you get all out of shape there, somebody has to accumulate profits and the dollars and euros might as well go to savvy investors who profit whichever way the markets go.

    If I make enough to buy a car, somebody in Detroit or Stuttgart gets to feed a family, and that’s what we need the money to go somewhere, not evaporate into the ether.

    That’s where short ETF come into the picture.

    Just use common sense and a digital trading platform, and you’re in.

  • http://www.prophecience.com Steve

    My Quote…here it is

    These Government leaders with all the potential considerations will fail in their calculations and have such unintended consequences. A Global Depression that will make the U.S.1933 Depression a cake walk. War, crime, riots and famine will be the norm. A lynching of the middle class with nothing left will thrust violence upon the “Elites” and the “Rich” that the world has ever seen. If you can, leave the U.S. and find a 3rd world country where they know how to survive on nothing. You may realize then you will be one of the Blessed lucky ones. For now the growing massive debt is a smoldering volcano is like Mt. Vesuvius, that when it blasts will leave the world looking like Pompeii.

    – Steve 09/11/09

  • therooster

    Monetise gold and silver at the individual level …. in real-time. The dollar’s ultimate role was not meant to be for the role of a currency but as a real-time measure for gold-as-money, where gold is the money and the dollar bridges fiat currency pricing of goods and services with weighted bullion payments. Simple. The is why the FIXED dollar-gold peg had to be severed. Bullion’s trade value had to be set free to rise as per the market.

  • Otown Right Guy

    Wall Street says everything is fine. Buy bank stocks. They are a great value! And we know Wall Street would never lie. Oh look now they are even a better value!

  • Sherry

    If the government would take off the millions of illegal aliens who are collecting social security and medicare benefits,just this action alone would free up the money that those of us who have legally bought and paid for our social security. These people who are in the millions are living better than I am and absolutely do not deserve this. This is due to some more of this “liberal” thinking who are busy thinking of ways to wreck our country. It is time all the seniors band together and demand these people be denied all benefits and then deported. Our borders need to be closed until this country gets back on its feet again. Get rid of this bunch of liberals who care nothing about you or me. I say it is time to say Obamanos, Obama!

  • Needs to know

    With all of this doom and gloom, why is it that no one writes about what to do. For instance, should people try to pay off their home, or is that a waste of time and money? What will the economic collapse look like in the every day life? I am serious, why not write an article about the everyman’s every day consequences to this event?

    • Anne Marie

      I recommend living life as if things are going to get better, but be prepared as if things might get worse. Continue to pay your bills, prepare for your future, work hard, play hard.

      If these are the end of times (which I believe they are), then make sure you are right with God. If these aren’t the end of times, then you won’t have messed things up for yourself by losing your home, ruining your credit, etc.

      I think the most important thing to do is stock up on food and water. Even the bible states that in the end of times, there will be famine. There are signs all around us that indicate the instability of the world’s food supply.

  • Flyer1

    So who is going to loose? The wealthy will loose all their fake money.

  • wrathofpoochie

    Please, you bible thumpers always see in the bible what you want to see. My interpretation of the bible is as valid as yours, and I am a lot smarter than you, that makes my interpretation better than yours. :)

    • r.bitting

      Well then, by all means, please enlighten us with all your wisdom while we sit at your feet waiting for the next pearl of wisdom to fall from your lips. Why don’t you first start by telling us exactly what it is that YOU believe, but don’t stop there, please explain to us what exactly, you BASE these beliefs ON. I will eagerly await your response.

  • Prepare4thebadHope4theGOOD

    Gary2, please show me, with facts not slogans, all the wonderful examples where socialism (or Marxism, Commie-ism, etc) was a roaring success. Cuba? USSR? UK? Chavez-land? France? former Warsaw countries???
    Which of these countries were the cradle of innovation, where the airplane was invented, A/C electricity, advances in meds, the industrial revolution, etc. Where? Which ones? You think the Bible is BS?? At least it promotes thinking and shows cause and effect. I had relatives that escaped from a former Warsaw paradise. Believe me, eating from a dumpster in back of a McDonalds would be an upgrade for the average Yugoslavian, Romainian, etc. I KNOW FIRST HAND. If you really believed in that BS you would go there and live it up.

  • http://none Al

    To everyone of you out there, there are three types of man/ woman on planet earth. the natural, carnal and spiritual. The natural man does not know and does not care. Like an animal he is a walking dead. The carnal knows truth but follows his five senses.and the spiritual man who believe and knows that there is a higher power, who beliees the BIBLE and the truth of the ages and the Holy Spirit of an Almighty God, and who knows that he will make it here and there, as written.

    • Cheryl

      The author of this blog is a Christian who apparently has a gift for sharing with others in his writings what’s really happening in the world. You can only develop this spiritual gift by decades of dedication serving something other than one’s self. He does this blog without any payment from visitors. Think about it.

  • FLEUR

    Very interesting that you should mention the need for someone to ” ride in on a white horse “. That statement is prophetic, the so called antichrist will do just that, bringing a sense of peace although it will be a false peace, he will seem to have all the answers to the worlds troubles,…..but he has a very sinister agenda.

  • Miss Susie

    Why would anyone call the bible names.

  • Miss Susie

    I agree with Michael

  • Miss Susie

    I have never thumped bibles in my life,

  • Miss Susie

    So what is the plan. If you are not raptured. Then you are here for the duration. That means you will have no money no food and the whole planet is going to be coming apart.

  • http://theeconomiccollapseblog.com mintukumar

    The Federal Reserve is bankrupting the nation… paper money will become worthless… you have to prepare yourself and your family for the financial crisis ahead.

  • http://www.dnusbaum.com Douglas Nusbaum

    In three years since I wrote about the housing crisis I have yet to see an article on that topic that suggests a solution. How many articles have you read that are essentially nothing more than chicken little running around and submitting evidence that the sky is falling.

    Of course you are standing up to your hips in bits and pieces of sky, so you really do not need any evidence.

    Have you EVER heard someone offer a solution/ How about a free market solution: Well here is one:
    http://www.dnusbaum.com/fix.html

    You will need a decent attention span to get through the document since it runs to 6000 words without the links

  • Joe Barnett

    I would bet everything there is that this bubble will burst by next October prior to the elections. I would bet the farm. If it doesn’t happen now everyone will know this by next year. What would set it off is another bombing and martial law.

  • http://www.emergencyexitsigns.org/ Emergency Exit Signs

    What’s Taking place i am new to this, I stumbled upon this I’ve discovered It positively helpful and it has helped me out loads. I’m hoping to give a contribution & assist other customers like its helped me. Great job.

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