The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

The Prepper's Blueprint

The Mystery Of The Shemitah
Don't Buy Survival Food Until You Read This - If you stockpile the wrong foods, you could be setting your family up to starve. It sounds harsh, but the truth is too many people with good intentions are making critical mistakes with their food stockpiles. Watch this video now >>
The End of Obama? Approaching Obama scandal could change the White House Administration and our country overnight... Click Here
Gold Buying Guide: Golden Eagle Coins


Young Living Thieves Oil Spray

27 Statistics About The European Economic Crisis That Are Almost Too Crazy To Believe

The economic crisis in Europe continues to get worse and eventually it is going to unravel into a complete economic nightmare.  All over Europe, national governments have piled up debts that are completely unsustainable.  But whenever they start significantly cutting government spending it results in an economic slowdown.  So politicians in Europe are really caught between a rock and a hard place.  They can’t keep racking up these unsustainable debts, but if they continue to cut government spending it is going to push their economies into deep recession and their populations will riot.  Greece is a perfect example of this.  Greece has been going down the austerity road for several years now and they are experiencing a full-blown economic depression, riots have become a way of life in that country and their national budget is still not anywhere close to balanced.  Americans should pay close attention to what is going on in Europe, because this is what it looks like when a debt party ends.  Most of the nations in the eurozone have just started implementing austerity, and yet unemployment in the eurozone is already the highest it has been since the euro was introduced.  It has risen for 10 months in a row and is now up to 10.8 percent.  Sadly, it is going to go even higher.  As economies across Europe slide into recession, that is going to put even more pressure on the European financial system.  Most Americans do not realize this, but the European banking system is absolutely enormous.  It is nearly four times the size that the U.S. banking system is.  When the European banking system crashes (and it will) it is going to reverberate around the globe.  The epicenter of the next great financial crisis is going to be in Europe, and it is getting closer with each passing day.

The following are 27 statistics about the European economic crisis that are almost too crazy to believe….


#1 The Greek economy shrank by 6 percent during 2011, and it has been shrinking for five years in a row.

#2 The average unemployment rate in Greece in 2010 was 12.5 percent.  During 2011, the average unemployment rate was 17.3 percent, and now the unemployment rate in Greece is up to 21.8 percent.

#3 The youth unemployment rate in Greece is now over 50 percent.

#4 The unemployment rate in the port town is Perama is about 60 percent.

#5 In Greece, 20 percent of all retail stores have closed down during the economic crisis.

#6 Greece now has a debt to GDP ratio of approximately 160 percent.

#7 Some of the austerity measures that have been implemented in Greece have been absolutely brutal.  For example, Greek civil servants have had their incomes slashed by about 40 percent since 2010.

#8 Despite all of the austerity measures, it is being projected that Greece will still have a budget deficit equivalent to 7 percent of GDP in 2012.

#9 Greece is still facing unfunded liabilities in future years that are equivalent to approximately 800 percent of GDP.

#10 In the midst of all the poverty in Greece, several serious diseases are making a major comeback.  The following comes from a recent article in the Guardian….

The incidence of HIV/Aids among intravenous drug users in central Athens soared by 1,250% in the first 10 months of 2011 compared with the same period the previous year, according to the head of Médecins sans Frontières Greece, while malaria is becoming endemic in the south for the first time since the rule of the colonels, which ended in the 1970s.


#11 The unemployment rate in Spain is now up to 23.6 percent.

#12 The youth unemployment rate in Spain is now over 50 percent.

#13 The total value of all toxic loans in Spain is equivalent to approximately 13 percent of Spanish GDP.

#14 The GDP of Spain is about 1.4 trillion dollars.  The three largest Spanish banks have approximately 2.7 trillion dollars in assets and they are all on the verge of failing.

#15 Home prices in Spain fell by 11.2 percent during 2011.

#16 The number of property repossessions in Spain rose by 32 percent during 2011.

#17 The ratio of government debt to GDP in Spain will rise by more than 11 percent during 2012.

#18 On top of everything else, Spain is dealing with the worst drought it has seen in 70 years.


#19 The unemployment rate in Portugal is up to 15 percent.

#20 The youth unemployment rate in Portugal is now over 35 percent.

#21 Banks in Portugal borrowed a record 56.3 billion euros from the European Central Bank in March.

#22 It is being projected that the Portuguese economy will shrink by 5.7 percent during 2012.

#23 When you add up all forms of debt in Portugal (government, business and consumer) the total is equivalent to approximately 360 percent of GDP.


#24 Youth unemployment in Italy is up to 31.9 percent – the highest level ever.

#25 Italy’s national debt is approximately 2.7 times larger than the national debts of Greece, Ireland and Portugal put together.

#26 If you add the maturing debt that the Italian government must roll over in 2012 to the projected budget deficit, it comes to approximately 23.1 percent of Italy’s GDP.

#27 Italy now has a debt to GDP ratio of approximately 120 percent.

So why hasn’t Europe crashed already?

Well, the powers that be are pulling out all their tricks.

For example, the European Central Bank decided to start loaning gigantic mountains of money to European banks.  That accomplished two things….

1) It kept those European banks from collapsing.

2) European banks used that money to buy up sovereign bonds and that kept interest rates down.

Unfortunately, all of this game playing has also put the European Central Bank in a very vulnerable position.

The balance sheet of the European Central Bank has expanded by more than 1 trillion dollars over the past nine months.  The balance sheet of the European Central Bank is now larger than the entire GDP of Germany and the ECB is now leveraged 36 to 1.

So just how far can you stretch the rubberband before it snaps?

Perhaps we are about to find out.

The European financial system is leveraged like crazy right now.  Even banking systems in countries that you think of as “stable” are leveraged to extremes.

For example, major German banks are leveraged 32 to 1, and those banks are holding a massive amount of European sovereign debt.

When Lehman Brothers finally collapsed, it was only leveraged 30 to 1.

You can’t solve a debt crisis with more debt.  But the European Central Bank has been able to use more debt to kick the can down the road a few more months.

At some point the sovereign debt bubble is going to burst.

All financial bubbles eventually burst.

What goes up must come down.

Right now, the major industrialized nations of the world are approximately 55 trillion dollars in debt.

It has been a fun ride, but this fraudulent pyramid of risk, debt and leverage is going to come crashing down at some point.

It is only a matter of time.

Already, there are a whole bunch of signs that some very serious economic trouble is on the horizon.

Hopefully we still have a few more months until it hits.

But in this day and age nothing is guaranteed.

What does seem abundantly clear is that the current global financial system is inevitably going to fail.

When it does, what “solutions” will our leaders try to impose upon us?

That is something to think about.

  • Rusty

    Yeah, I’ve been hearing about how bad it will get for years now (in the U.S.).

    Things were supposed to get horrific by Winter 2010. Didn’t happen.

    I remember that idiot Celente saying in the beginning of 2009,”People will be giving fruit cakes to each other for Christmas of this year.” Didn’t happen!

    You people are in an echo chamber and need to start getting out more.

    • Tim

      Many smart people are surprised that the global financial system hasn’t already collapsed. For example, Chris Martenson, a very smart man, said in a recent interview that he never imagined that the collapse would take this long to play out. But you can be sure that it will collapse.

      • Paul

        I was already taught about the coming collapse of capitalism 30 years ago in school.

        But what’s 30 years compared with a million years of human development?

        The first stock exchange was founded in the 15th century. If capitalism is declining now, maybe it will take another 600 years until we see the last stock exchange?

        • GrantF

          Any way you slice it, we’ll all be long gone from this lifetime before the final bell tolls on the concept of making money, and all that is associated with that both good and bad.

          If the global economy actually does collapse within the time frame that most experts and prognosticators expect (within 20 years, tops), then some fool will make the mistake of picking up the pieces, determined to start all over again.

    • Another Richard

      Hang in there Rusty. Rome was neither built in a day nor Destroyed in a night. Just hang in there a little longer Rusty boy – it’s comin to a street near You.

    • Alasha

      lol. what about the numbers tho, Rusty? Facts are facts, right?

    • Diane C

      Rusty – that’s because the FED keeps throwing money into the mix and buying up it’s own debt and kicking the can down the road. It is going to happen. Many will be ready because of people like Michael who spends a lot of time doing the research that we don’t do.

  • Mark

    When will Greek politicians figure out that the Greek State can simply start to print billions of its official currency … THE EURO … and spread that money among its population?

    Non of the other EU member states can prevent that, except with a military invasion.

    There are plenty of advantages for the Greeks themselves. It will stimulate the economy … more taxes to pay off debs. It might start a panic reaction in the EU … the Euro might collapse … (hyper)inflation … it will be easier to pay off Euro debs. And if Germany can avoid a collapse, well, it will be up to them to adjust the Euro circulation.

    At a certain point, it will be much cheaper for the Greeks to simply keep the Euro, but make sure with high inflation levels, than to simply leave the Euro.

    • mike

      Really, how can Greece do that? Please explain that to me, because Greece does not have the ability to “print Euros” They are part of the ECB euro system and are bound by charter to maintain a debt (deficet spending limit on an annual basis of not more that 3%) so you are just spounting BS..

  • mondobeyondo

    The European Central Bank has reached into their bag of tricks to save their banks, much like the Fed reached into its bag of tricks to save our banks in 2008. A wave of the magic want…hocus-pocus money printing – with a little bit of blackmail thrown in, of course.

    “Hey Congress! Give us what we want, or else the entire banking system will crash! If you don’t approve this bailout, there will be another Great Depression, etc. etc.”

    Congress gave the banks what they wanted, despite the objection of the vast majority of American people. The banks were bailed out using taxpayer money. Would have been better just to let the system crash and start again from the beginning.

    Will the same thing happen in Europe?

  • mark

    Two analogies come to mind, many have called wolf, now the wolf is at the door and many ignore it’s howling, as if it’s just the wind.
    The signs of the times are quite clear, yet it is taboo to say, this is the second coming…opens one up to ridicule, by the less knowledgable.
    Folks, it is coming down, a new world order is set to take control, in time. And that will be the kingdom we have all been waiting for, the kingdom of God. In the mean time, prepare. God, guns n grub, guys n gals, the new 5G network, spread the word, get prepared. We the people will have to go retro on em before it’s all done.

  • Ghoder

    It isn’t the elites fault, it is the publics fault this is happening. We allowed the elite to scoop up all the power and wealth while we sat back and sucked at the teat of government debt… Don’t worry though they have plenty of head busters in place to keep the lazy dummies in line when the EI benefits run out, and the food stamps run out. Think about it. If the people really wanted to improve it they would of decimated the republicans and the democrats in the last election and it would of been fixed by now. The people wanted this debt, and they elected the finest debt runner they could find – Obama. So what if your all going hungry they’ll give you free medical coverage… Take responsibility for yourselves and stand up take action.

  • SNo

    Can you run up all these numbers for USA.
    You would be surprised by the result…
    Now all the stories about New World Order and PTB and whom control who are just a reflection of the resignation of Citizens and of their surrendering of their rights.
    Liberty is not a given, it is an every day fight. and when you keep choosing as it is said in French between “bonnet blanc” and “blanc bonnet” i.e. “White hat” and “hat white” you should not be surprised by the result.
    “If you have ten thousand regulations you destroy all respect for the law.”
    Winston Churchill

  • Paul

    Hope you had a nice weekend, too.

    Finished my first cat cage in the garden. Now all neighbours’ cats will need to find a different place for their loo. And I can grow some herbs.

    Had two hours of grooming in the bathroom on a lovely and sunny Sunday morning, then went to the city and spent £10 on a fish spa, letting fish nibble on my feet.

    I wonder who will eat the fish later.

  • David

    The leftist in our country are truly blind when they see what is happening in Europe and still want to go down the socialist road. The gang we have in the White House now is the most corrupt bunch of thugs since Al Capone.They could care less if everything people have worked and saved for goes up in smoke. They have and are getting theirs.I’m sure it is offshore and is in gold!

  • James Tomson
Emergency Essentials/BePrepared
Agora Financial
Thrive Life
FEMA Hates This

High Blood Pressure?
The End Of America?
Survive After Collapse

Camping Survival
Facebook Twitter More...