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4 Harbingers Of Stock Market Doom That Foreshadowed The 2008 Crash Are Flashing Red Again

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Hourglass - Public DomainSo many of the exact same patterns that we witnessed just before the stock market crash of 2008 are playing out once again right before our eyes.  Most of the time, a stock market crash doesn’t just come out of nowhere.  Normally there are specific leading indicators that we can look for that will tell us if major trouble is on the horizon.  One of these leading indicators is the junk bond market.  Right now, a closely watched high yield bond ETF known as JNK is sitting at 35.77.  If it falls below 35, that will be a major red flag, and it will be the first time that it has done so since 2009.  As you can see from this chart, JNK started crashing in June and July of 2008 – well before equities started crashing later that year.  A crash in junk bonds almost always precedes a major crash in stocks, and so this is something that I am watching carefully.

And there is a reason why junk bonds are crashing.  In 2015 we have seen the most corporate bond downgrades since the last financial crisis, and corporate debt defaults are absolutely skyrocketing.  The following comes from a recent piece by Porter Stansberry

So far this year, nearly 300 U.S. corporations have seen their bonds downgraded. That’s the most downgrades per year since the financial crisis of 2008-2009. The year isn’t over yet. Neither are the downgrades. More worrisome, the 12-month default rate on high-yield corporate debt has doubled this year. This suggests we are well into the next major debt-default cycle.

Another thing that I am watching closely is the price of oil.

A massive crash in the price of oil preceded the stock market crash of 2008, and over the past year we have seen another dramatic crash in the price of oil.

Many had been expecting the price of oil to bounce back, but instead we are seeing new downward momentum.  In fact, according to Business Insider the price of U.S. oil briefly dipped below $43 a barrel on Wednesday…

Crude oil was down nearly 3% in morning trade on Wednesday.

West Texas Intermediate crude oil futures in New York dropped to as low as $42.97 per barrel. Futures touched a $42-handle in the last week of October, but last traded near those levels for a considerable period in August.

Another thing that I am watching is the ongoing crash of other industrial commodities.  This is something that also preceded the stock market crash of 2008, and it is a clear sign that global economic activity is really slowing down.

Prices for industrial commodities such as aluminum, tin, iron ore and coal are all crashing.  But the commodity that has me most alarmed personally is copper.

Economists commonly refer to it as “Dr. Copper”, and there is a very good reason for that.  Looking back over history, the price of copper often makes a significant move in one direction or the other before the overall economy does.  And the price of copper almost always starts declining before stocks do.

As I write this, the price of copper has fallen to $2.21, and it is already lower than at any point since the last financial crisis.  To get a better perspective regarding what I am talking about, just check out this chart.  This is one signal that is absolutely screaming that a major financial crisis is imminent.

One more harbinger of financial doom on the horizon is the surging U.S. dollar.  The U.S. dollar surged just before the financial crisis of 2008, and now it is happening again.

Most Americans don’t understand this, but the truth is that a rising U.S. dollar puts an incredible amount of stress on emerging markets all around the globe.  Since the last financial crisis, many of these emerging markets have been on a massive debt binge, and much of that debt was denominated in U.S. dollars.  Now that the dollar has increased in value, emerging market borrowers are finding that it takes much more of their own local currencies to service and pay back those debts.  Defaults are rapidly rising, and emerging market economies all over the world (such as Brazil) have already plunged into recession.

If the Fed does follow through with an interest rate hike in December, that is going to make things even worse.  The U.S. dollar will surge even more, and emerging markets will be in even more trouble.

At the same time that the dollar is getting stronger, the euro is getting weaker.  An article that was posted by CNBC on Wednesday went so far as to state that “it is now looking like the euro reaching parity with the greenback is all but guaranteed”…

The prospect of the Fed hiking interest rates in December has pushed the dollar higher, and it is now looking like the euro reaching parity with the greenback is all but guaranteed.

Strategists, however, disagree on how quickly that will happen and how much more the dollar can appreciate in the near term. That depends, they say, on the Fed, and how fast it will raise interest rates in a world where other central banks are moving in the opposite direction toward easier policy.

Goldman Sachs analysts this week reiterated that they expect euro parity with the dollar by year-end though other strategists expect the decline in the common currency against the dollar to take longer.

Let’s see, who has been warning that this would happen for more than a year?  Here are just a few examples…

July 19th: “For a long time, I have been repeating my prediction that the euro would fall to parity with the U.S. dollar.”

June 28th: “As I have warned repeatedly, the euro is heading for parity with the U.S. dollar, and at some point it will drop below parity.”

May 25th: “As I have warned so many times before, the euro is headed for parity with the U.S. dollar, and then it is going to go below parity.”

In August 2014, just a little bit over a year ago, the EUR/USD was sitting above 1.30.  At that time very few people out there would have ever imagined we would be talking about parity just a little more than a year later.

This is just the beginning of a time of great financial volatility.  The things that we are going to witness in the months and years to come are going to be absolutely unprecedented.  A massive global debt super-cycle is coming to an end, and the pain that this is going to mean for the global economy is almost too great to put into words.

  • MIchael in Chicago

    It is a great time to buy silver. Been down for about 9 days I think. Assuming of course you are lucky enough to have any money to spend. Anyway. I still find it interesting that there has been a slew of negative data out of China, negative trade data out of Germany and other countries, so on and so, yet the VIX has not budged up at all. While I understand the hope of more stimulus from EU/China props up the markets (to an extend) that should not impact the fear monitor at all.

    • Mike Smithy

      Keep stacking.

      • Gay Veteran

        bought some Austrian philharmonic coins (one ounce silver, 1.5 Euros), oddly they were much cheaper than other one ounce coins

  • Guest

    Will interest rates ever get back to “normal?” All this talk about a rate hike by the Fed in December is ridiculous. Sure, the Fed may raise the Federal Funds Rate by 25 basis points so they can say that they did what they said they were eventually going to do. But what’s 25 basis points? The Federal Funds Rate was 4.25% in December 2007. Does anyone believe the Fed can take the Federal Funds Rate back to that level? Of course not. I think just a 25 basis point hike would precipitate another crisis, though I don’t know that for sure. But the fact that the Fed has maintained ZIRP for almost 7 years(!) now should tell anyone that the Fed is trapped.

    • Watchman

      The Fed won’t raise rates and they haven’t since 2006/2007. They keep on dangling this carrot for investors but eventually just like a narcotic it’s effect weakens and lessens. Either way the world economy is heading to a deflationary collapse.

      • Mike Smithy

        They won’t raise rates because they can’t raise rates. The Fed has boxed themselves into a corner. It’s all about “extend and pretend” and “fake it till you make it”.

        • Watchman

          Your right that they won’t raise rates because they can’t. The impact of raising rates even by .25% on emerging and developing markets would be quite devastating and that’s not even discussing the impact it would have on the domestic economy or on lenders using USD as a basis. Raising rates would also cause the USD to surge higher meaning that USD to other currencies would be an even higher gap in terms of conversion.

          The Fed will likely follow the EU model and pursue a NIRP policy as central banking has reached the limit of the “monetary helicopter” policy.

          • John Byde

            Thank you, Watchman. That comment was interesting and didn’t insult anyone. More of the same, please!

          • Gay Veteran

            Interesting topic: how to avoid negative interest rates?
            buy a cashiers check in your name?

  • Bill

    This is great insight Michael. I hope the discussion stays academic and people start to understand what the real numbers are forecasting.

    • Jazz

      They are forecasting fresh new highs. Cha ching! Cha chang! That’s the sound of my portfolio going up every day!

      • Kent Harris

        My 401K for the past year has been rather dismal to say the least. I have several that are in foreign and some Blue Chip and nothing is really making me money.

        • Jazz

          Yeah you have to be buying individual stocks to make $ in this market. It’s like 2011, a stock picker’s market. I have been buying big tech, health care and select consumer stocks. Up pretty big this year!

          • W.F. CALL

            So why didn’t you specify this above?

          • Jazz

            I have said MANY MANY times that 2015 is just like 2011. That is how I have been able to get my market calls correct.

          • W.F. CALL

            It certainly looks like 2011 chart wise. Be careful for the head fake. Hope you are correct, but this pullback (if it reaches 5%) could be interesting.

          • Jazz

            I have been taking some gains off the table with the quick run up. It will either be a repeat of 2011 or I still could see it being 2008 again if there is a black swan event. Otherwise I see the US market melting up because the rest of the world has to put $ somewhere and it’s all flooding to US dollar, stocks, and bonds.

          • W.F. CALL

            Agree. No offense earlier. Have a good evening.

          • Jazz

            No problem> I have thick skin! I do see the US eventually collapsing when our debtors figure out we aren’t ever going to pay them back. Until then the central banks all collude together to keep the party going. I see Europe and Japan imploding years before we do.

          • W.F. CALL

            You, my new friend, are no troll.
            I will say I do think the writer has some valid points that have had my attention as well…so, it is not my intention to bash him.

          • Jazz

            I agree and I like Michael’s writings too. He does great research so I read here regularly. I like to see his point of view as well as many others who are more optimistic.

            I think the US will eventually see dark financial days but I expect it will be several years out. It has already begun, but i doubt we will see the full manifestation for many more years. QE 1-3 further separated the rich and the poor. This will ultimately tear the country apart.

            There is a massive shift in government that is unfolding right now. The upcoming collapse will not just be financially related, it’s a change of government, wars, civil unrest, etc. They are all connected, but it won’t just happen overnight. It will occur in stages. We are in the beginning stages of a collapse IMO.

            Game changers could be an unknown black swan event, killing of the petro-dollar system, a global currency reset, world war. In other words there are many things that could speed up a collapse, but just like an earthquake, You can prepare but never be fully prepared or know exactly when it’s going to take place. I take it a day at a time and am prepared for feast or famine!

          • GoldenGirl

            Exactly!!

          • Watchman

            Must be a different poster using the Jazz account for this point.

            What you Zazz./Jazz can’t answer is if everything is fine why is even Goldman Sachs and BIS and other central banks saying we are in a financial crisis and the third wave of the financial crisis (part 1 being subprime and part 2 being PIIGS)

          • Jazz

            Nice try watchdog. If you actually read my comments instead of spewing your non sense you would see I expect a US financial crash BUT not for several years.

          • Watchman

            I don’t spew nonsense Zazz. You are the one who has been spewing nonsense for years nonstop. Do you remember how welcomed you were and how appreciative others were of your ridiculous posts? Oh how did you enjoy the negative karma which you seemed to accumulate so fast.

          • John Byde

            Troll

          • Gay Veteran

            .

          • Clemenzza

            They will be paid back because the the Treasury has the ability to print money. So bond holders will receive their monthly coupon and par payments. Only problem is the denomination of the payment, US dollars, won’t be worth a pot full of cold piss. That will be the choice over making the bond holders take a haircut. Comming to you soon, $14 trillion in useless bond payments.

      • W.F. CALL

        Post holdings in your portfolio since Jan 1, 2015. Otherwise–troll rubbish.

        • JAZZ

          These are not recs to buy but what I have owned in 2015. AAPL, GOOGL, AMZN, MSFT, NFLX, UA, SBUX, ULTA, AVGO, PANW, INCY, REGN, FISV, AZO, ORLY, FB, In August bought SPY Sept puts, bought SPY Nov & Dec calls in middle of Sept. Just a sample of some of my portfolio moves.

          • W.F. CALL

            [stamp] gloat approved. LOL!

          • Jazz

            Did get some wrong picks with health care and too early on energy. Other than that, it’s been a great year!

          • W.F. CALL

            sweet!

          • Watchman

            You couldn’t even call the proper picks even with a time machine Zazz. You are a lowlife pathetic troll who leaves a footprint that can be seen from outerspace.

          • John Byde

            Watchman, you’re calling everyone out as a troll. The only troll here is you. Why not address people’s arguments and cut out the ad hominem attacks?

      • W.F. CALL

        Post your holdings. You don’t have to give the number of shares, etc…

      • SunnyFlaSnotress

        This would be a nice time to get something on a little dip for the Santa Claus rally.

      • Watchman

        The only new highs are what you are smoking Zazz. What’s the matter you thought nobody would recognize you troll? You keep repeating the same old over and over but when there is market corrections and market turmoil you are nowhere to be seen.

      • SunnyFlaSnotress

        I’m waiting to place a trade right now on an auto parts stock.

      • RagingVoiceOfReason

        Government troll?

        • Watchman

          Jazz goes by many other nicknames and aliases including that of Zazz. For many years now he says the same stuff.

    • SunnyFlaSnotress

      Michael was WRONG about widespread summer rioting. Michael was WRONG about the Greek Deal. Michael was WRONG about a September stock market crash. Mike was WRONG about the official USA stand on Assad. Michael is WRONG with this new little stock market panice.

      • Steeve Girard

        Sorry to tell that you are wrong, but a crash is happening. A commodity crash! Currently only the basic commodities have crash. And the system is trying (not necessarily government) to prevent the value of subsequent products from falling, by either paying a lot for key people to shut up, or corrupting companies into saying their production costs haven’t change. It is only a matter of time before they are discovered, and shut down by market authorities. The best example of this is the gazoline production. We know they are hiding their true costs, and they are currently under investigation by the energy boards of several countries.

        • SunnyFlaSnotress

          Yes but the article is titled
          4 Harbingers Of Stock Market Doom That Foreshadowed The 2008 Crash Are Flashing Red Again

          • Watchman

            And your point is Sunny? Oh that’s right you don’t have a point. You just troll and hijack.

          • SunnyFlaSnotress

            The point is that the article isn’t about a commodity crash.. it’s about a stock crash.

          • Watchman

            You don’t understand how commodities are related do you? Of course not you stupid silly little vile troll.

            Since you want to troll what happened in 2008 with commodities and what happened in 2015 with commodities?

          • SunnyFlaSnotress

            Commodities are not the subject matter.

          • Watchman

            Commodities was mentioned and discussed in the article you dimwitted shemale troll.

          • Watchman

            Commodities was mentioned and discussed in the article you dimwitted troll. Now tell me how they are not the subject matter or not related?

          • JJJ4J

            I have flagged the above comment, off topic and exceedingly unnecessary.

          • Watchman

            What happened in 2008 with commodities and then the stock market?

            What happens in 2015 with commodities and then the stock market?

            Sorry if that is too much for your low IQ to process let alone handle.

      • Watchman

        Sunny are you using troll template #1 or #2 for cut and paste again?

    • SunnyFlaSnotress

      It’s sad that Michael has to delete all the posts that conflict with his self-image…especially when mine had the most points. He lives in his own private Idaho. and that reminds me of a song..

      You’re living in your own Private Idaho
      Living in your own Private Idaho
      Underground like a wild potato.
      Don’t go on the patio.
      Beware of the pool,
      blue bottomless pool.
      It leads you straight
      right throught the gate
      that opens on the pool.

      You’re living in your own Private Idaho.
      You’re living in your own Private Idaho.

      Keep off the path, beware of the gate,
      watch out for signs that say “hidden driveways”.
      Don’t let the chlorine in your eyes
      blind you to the awful surprise
      that’s waitin’ for you at
      the bottom of the bottomless blue blue blue pool.

      You’re livin in your own Private Idaho. Idaho.
      You’re out of control, the rivers that roll,
      you fell into the water and down to Idaho.
      Get out of that state,
      get out of that state you’re in.
      You better beware.

      You’re living in your own Private Idaho.
      You’re living in your own Private Idaho.

      Keep off the patio,
      keep off the path.
      The lawn may be green
      but you better not be seen
      walkin’ through the gate that leads you down,
      down to a pool fraught with danger
      is a pool full of strangers.

      You’re living in your own Private Idaho,
      where do I go from here to a better state than this.
      Well, don’t be blind to the big surprise
      swimming round and round like the deadly hand
      of a radium clock, at the bottom of the pool.

      I-I-I-daho
      I-I-I-daho
      Woah oh oh woah oh oh woah oh oh
      Ah ah ah ah ah ah ah ah
      Get out of that state
      Get out of that state
      You’re living in your own Private Idaho,
      livin in your own Private…. Idaho

      • Jill

        It is his blog and well within his rights. If you honestly feel as though the economy will continue to rise, why not develop your own blog to share your insights?

        • SunnyFlaSnotress

          It’s within his rights, but it shows how insecure he is

          • Watchman

            No it shows how trolls such as you are trying to divide and conquer the discussion.

          • SunnyFlaSnotress

            I speak truth as I see it and my view is popular judged by the upvotes, but Michael dismisses contrary points of view.

          • Watchman

            You don’t speak anything besides trying to divide and conquer and hijack the discussion. The only truth is the dimwitted view you hold of yourself.

            You are so stupid that you actually upvote your own comments troll.

          • Watchman

            You don’t speak anything besides trying to divide and conquer and hijack the discussion. The only truth is the dimwitted view you hold of yourself.

            You are so stupid that you actually upvote your own comments troll.

      • Watchman

        You know how pathetic you are as a troll when you upvote your own post? If you don’t like what Michael posts (the truth) then get lost.

        • SunnyFlaSnotress

          It’s obvious Mike has a lot of time to do this writing because nobody is hiring him as a lawyer.. which makes sense.

          • Watchman

            You know you lost your marbles when you attack the author instead of actually debating and discussing the article. What a poor little troll you are but nobody feels sorry for you.

          • SunnyFlaSnotress

            Watchdog, why don’t you get a job? You’re here all hours of the day. I work online.. what’s your excuse? I think you live off the government.

          • Watchman

            Trolling online doesn’t count. I could do this all day and night you stupid troll.

            stultus troll

          • SunnyFlaSnotress

            What do you for a living Watchdog? Nothing.. You live on disability claiming a bad leg or something silly. You have no family, no significant other, no job, and you live off the goverrnment.

          • Watchman

            Poor old Sunny nobody cares about you or what you post. Let’s play the game of how long before your posts are removed?

          • John Byde

            Sunny, ignore him.

          • Watchman

            Everybody knows you work online as a troll it’s become quite apparent and visible by now. Now that you admitted it you can ask your handlers to take you off this assignment.

  • recovery

    Nonsense.

    The economy is doing fantastic, Plenty of Americans are making 6 figures. The economy has never been better.

    Stop whining and make cash. The American dream has never been better!

    • Kent Harris

      Who????? I don’t know a single person that is making more than $50,000. About the only people that are making more are those that are either living in D.C. or NYC and that is about it.

      • W.F. CALL

        You don’t know any lawyers, bankers, doctors, dentist?

      • Viper

        It depends what industry one works in. I work in a specialty chemical plant and I consistently make over $100k per year.

        To be fair, we have seen our orders drop off, but everyone makes $75k to $125k a year, depending on how much overtime they want to work.

      • SunnyFlaSnotress

        My last boyfriend makes over that on retirement. I know this.. it is published public record.

        • Watchman

          You mean your imaginary “boyfriends” troll.

          quanta sit uanitate parum Troglodytarum estis

          • CASTIEL

            her boyfriend is called Dildo

    • David Hilty

      71% of working Americans make $50k or less. I’m glad that you live in an area that is apparently doing well. Most of the country is not.

      • alan

        Probably Maryland and then pays most of it back in taxes.

    • hans

      Can you send me the drugs that you are taking. I am an unemployed oil worker who needs some happy pills.

  • Jazz

    LMAO!!! Stock markets are close to all-time highs and consumer spending is ticking up. Majority of US GDP is based on consumption. Dow will hot 20K soon. Just watch and learn folks! Melt up. Where else are you going to put money? In your mattress? Lol

    • Guest

      If the stock markets crash will you come back and apologize?

      • W.F. CALL

        She will not even post her holdings.

        • Jazz

          I posted my holdings silly.

          • W.F. CALL

            ok. I see them. Comment above withdrawn. lol

      • Jazz

        Absolutely! I admit when I get it wrong. Thankfully I don’t have to do that too often.

        • Watchman

          When there is market turmoil and corrections you don’t admit it. Infact Zazz you are nowhere to be seen.

          If everything is so good with the mainstreet and the mainstreet economy why are you here?

          I for one will be laughing when you lose your entire portfolios and everything you have.

          • Mike Smithy

            The DOW opened 175 points lower this morning. I can’t help but wonder if this is correlated to Michaels assessment that all is not well in this wicked web of global financial deceit. If so, look for the PPT to take over for a 3:30pm ramp.

    • W.F. CALL

      Who’s your employer? Who is paying you to make these post? What is your screen name on CNBS (CNBC)?

      • Jazz

        LMAO. I employ myself, my friend. Why do all you fools insist I’m being paid to tell the truth. I called the market’s moves from July to now – 100% correct! Sorry, but I have been right and you know it.

        • W.F. CALL

          Right about what specifically?

          • Jazz

            That there wouldn’t be a crash in 2015. We would have a summer correction. I called the Aug low and quick recovery with new highs before year end. QQQ hit new highs and I expect Nasdaq is next followed by S&P then Dow possibly in Dec.

          • Watchman

            You really didn’t call anything Zazz. You are just full of hot air and nothing more.

            You are the troll account that is here for entertainment.

        • Gay Veteran

          you hired an idiot

    • MaxRockatansky33

      Dow is now falling. Lost nearly 700 points in This week. And wait for Monday and global markets reaction after deadly terror attacks in Paris.

  • W.F. CALL

    Open gaps @ spx 2050 and 1950 ish…

  • W.F. CALL

    So what happened to Walker?

    • Jazz

      Walker = watchman

      • W.F. CALL

        thanks

      • Watchman

        Prove it Zazz that I am Walker. But of course you can’t so you make up claims and yet you can’t back them up.

        W.F. CALL you should know that your friend Jazz here is the very same internet troll that frequents many forums and websites. He uses the handle of Zazz and many other nicknames and says the same bull over and over. He’s been present as far back as 2010 and even 2011. He’s nothing more than a lowly paid illegal troll.

  • Coffeedrinker

    There is actually too many inflated bubbles still holding up the economy for a crash in the stock market to be able to bring down the economy.

    Still standing is the re-inflated housing bubble, the treasury bond bubble, student loan bubble, rising value of the dollar, and new economies coming online to the debt-based system, for example, Iran, and Cuba.

    Ahead all looks good for the USA if we continue to ignore the growing homelessness, joblessness, rising inflation, and excessively drug addicted population.

  • recovery

    The US economy has never been this better. Everyone is making 6 figures, Dave Ramsay has had calls from successful millionaires, businesses are prospering more than ever.

    Stop complaining. America is the land of opportuinities.

    • Kevin

      Nice to see Obama supporters read this blog too. And just because the Dave Ramsey has success stories doesn’t mean the economy’s well being should be judged by a radio show.
      I suggest putting down your Latte at Starbuck’s and walk down to the local unemployment office and ask the job seekers how many have been offered $100K jobs lately.

      • maxblockm

        I think he was being sarcastic…I’m sure you know, not everyone is making 6 figures….

        • Mike Smithy

          Nope. Just 2 days ago “Recovery” was posting on Disqus as “Odfsih”. Just another useful idiot operative from Media Matters.

          • awb22

            Or robot.

          • K

            The simple fact is Michael has made the Drudge report lately. Thus the increased troll activity. You need to try to ignore them. Their whole purpose is to distract from, an intelligent exchange of ideas.

          • Mike Smithy

            True.

          • Watchman

            K remember that if everything was as great as the Obozo claims then trolls wouldn’t show up. Instead trolls appear when things are bad. Their purpose is to hijack and divide and conquer.

            Note that trolls such as Sunny, Zazz/Jazz, Alwaystrolling etc… are frequent trolls here.

    • Christoph Weise

      6 figures is nothing. Deposit 6 figures at a bank and see what you get. ZERO!

    • barry oldwater

      Take away the decimal point and the two zeros in the tenths and hundredths and you can see what he really means.

    • johnlaughs@u

      LOL. nothing else to say…..
      oh one more thing. 96mill people outta work in the land of opportunities.
      can you say 6figure debt?

    • afchief

      More proof liberalism truly is a mental disorder!

    • Watchman

      Ah the odfsih account returns.

      Quas eieci te Troglodytarum

  • recovery

    You people need to stop complaining. The job market is better than ever before. The job numbers are rising and more people are getting off welfare.

    There are plenty of people making 6 figure salaries. You can do it too. Just work hard. The American Dream is still alive and well.

    • CASTIEL

      Bla bla bla bla……..wake up idiot

      • BeenThere

        recovery’s nonsense has been posted multiple times. Must be spam or a troll. It’s a wonder Micheals vetting system did not catch it

        • maxblockm

          It’s sarcasm.

    • Mad Monkey

      China now has more billionaire and people on 6 figure salaries than the USA, The USD soon to be useless. Your 6 figure salary won’t even buy you a big mac.

    • Watchman

      This is the same odfsih account that was trolling before claiming about 6 figures and everybody being rich.

  • David Hilty

    “recovery” must work for the White House.

  • JailBanksters

    One of my favorite colors Red the other one is Blue,
    except in Politics, can’t stand looking at these Red or Blue Teams.

    What would happen if the US did not print one more dollar ?,
    and there lies the problem, they can’t. All Banks, Finance Companies are all based on creating money out of thin air.

  • rentslave

    As you may have heard,the NY state AG shut down fantasy sports betting.They don’t want people making money.

    • fla2700

      You mean money the corrupt liberal politicians cannot control.

      • Watchman

        As if the left or right have societies interests in mind? Both under Bush and Obama the national debt has exploded. Meet the new boss the same as the old boss.

        fla2700 you fell for the false left/right paradigm.

  • rentslave

    I may have to move to Nevada.I can afford a house there at least,and possibly may force $heldon Adelson to move the Wailing Wall to the Strip.He’ll need it if I go out there.Artificial intelligence wishes that it knew half as much as do I about baseball betting.

  • durango

    If the economy is doing so great why are all these six figure trolls turning up here. I would have thought they’d be out making money.

    • Jazz

      Economy is skewed – rich keep getting richer while poor and middle class get creamed. That is the real economic collapse. Too many people are focused on a US stock market crash that most likely won’t happen anytime soon. Thank the Fed for income inequality. Printing money and low interest rates help those with assets and investors but harm those on a fixed income and those who don’t have assets or advanced skills.

      • Watchman

        Keep repeating that the financial markets won’t experience a Black Swan event. No wonder you are just a silly stupid troll.

        • Jazz

          Predicting a black swan event is nearly impossible. I have said one could happen but they are very rare occurrences.

          • Watchman

            What’s that you have to speak up I don’t understand your lies. Black Swans are quite numerous all you have to do is to pick which one. Then again if you really are doing so good in your portfolios why would you care because you just troll anyway.

            Zazz aka Jazz the sad troll.

  • Cyber Revengeance

    Question is when will stock market crash.

    • Jazz

      US markets? I say we are at least a few years away from a US market crash. Look there are lots of bubbles that could burst at any moment but US market valuations have not reached the same levels like previous crashes – 2000 and 2007. Low rates have forced investors to stay in the markets.

      • RTL89

        On another blog I was reading, a particular user there has been saying for months that there will be a complete U.S stock market crash on November 19th, 2015. What’s your take on this?

        • alan

          The plunge protection team will make sure it doesn’t, then the media run stories about how good the economy is. Don’t watch the stock market.

        • fla2700

          What were they trying to sell you?

          • RTL89

            Nothing at all. In fact, back in May, June, July and August when people were freaking out about what September had in store, he kept insisting that it wouldn’t crash until November 19th. Not saying I agree with it, but it’s interesting nonetheless

        • Jazz

          It is possible but unlikely. It was interesting that the markets broke back below the 200 day moving average today and closed at the day lows. If this selling continues, we could see a retest of Aug lows which obviously would be a bad omen for the markets. One of two paths – 2011 or 2007. I have been forecasting a repeat of 2011 but if the technicals break down again, watch out below.

          • Watchman

            Aww the Zazzbot can’t predict or even account for today’s market indexes. That’s ok you can go back to being a failure in life.

          • RTL89

            Very interesting indeed. So if the selling continues down the same path that we’ve seen today, this next week’s worth of trading days can be a rocky road.
            I just found his particular posting to be quite fascinating. While everyone else was shrieking about the Shemitah and a major market meltdown in September (since stock market collapses seem to happen every 7th year in the fall), he tremained calm and said nothing serious would happen until November 19th. When we witnessed that huge plummet in late August and everyone was freaking, he remained calm and AGAIN stated that the big one would come on November 19th.

        • Cyber Revengeance

          even if there will be crash, it won’t be a big crash.

      • Watchman

        Your wrong Zazz but you don’t understand the financial markets and previous economic indicators and even the history and the waves of the financial crisis.

        Quia tu es Troglodytarum

        • fla2700

          My break is almost over…..
          Are you a professional troller? You always seem to be around.

          • Watchman

            Says the one who cannot answer the questions asked. If all this is entertainment like you claim it is then why is it that major players such as BIF, IMF, Goldman Sachs are talking about the coming financial crisis similar to that of 2008?

            You can’t answer the question so you hijack. Nice divide and conquer but it fails.

    • alan

      They may skim a couple trillion off of it now and then. A big crash, probably about the time the sun burns out.

  • SunnyFlaSnotress

    Oh god, another one of Michael’s fruitless stock market panic routines.
    For your own good, only use this site for entertainment.

    • afchief

      Then leave!

      • SunnyFlaSnotress

        It reminds me of a song..

        Jack :
        Everything that happens in life
        Can happen in a show
        You can make ’em laugh
        You can make ’em cry
        Anything
        Anything can go….

        The clown with his pants falling down
        Or the dance that’s a dream of romance
        Or the scene where the villain is mean
        That’s entertainment!

        Nanette : The lights on the lady in tights
        Oscar : Or the bride with the guy on the side
        Jack : Or the ball where she gives him her all
        All : That’s entertainment!

        Nanette : The plot and the hot simply teeming with sex

        Oscar : A gay divorcee who is after her ex
        Fred : It could be Oedipus Rex

        Jack :
        Where a chap kills his father
        And causes a lot of bother

        Nanette : The clerk who is thrown out of work
        Oscar : By the boss who is thrown for a loss
        Fred : By the skirt who is doing him dirt

        All :
        The world is a stage,
        The stage is a world of entertainment.
        That’s entertainment!

        The doubt while the jury is out
        Or the thrill when they’re reading the will
        Or the chase for the man with the face
        That’s entertainment!

        Nanette : The dame who is known as the flame
        Jack : Of the king of an underworld ring
        Oscar and Fred :
        He’s an ape
        Who won’t let her escape
        All : That’s entertainment!

        The gag may be waving the flag
        That began with a mr. Cohan
        Hip hooray!
        The American way
        The world is a stage,
        The stage is a world of entertainment

    • Paul Patriot

      Please leave, and take your demon vampire picture with you

      • Guest

        +1

        • Watchman

          Remember trolls such as SunnyFlaSnotress only show up when the situation is bad to hijack and contribute from discussion. It’s a classic divide and conquer tactic.

    • Watchman

      Then why are you even here Sunny? Or is it because you are a troll and you are assigned to troll the comment section here.

      The only thing that is entertainment here is you because you are so pathetic at life.

      Nunc tu abi Troglodytarum

      • jaxon64

        You all do know that the “trolls” get paid by how many responses they generate with their posts and how well they can detract from an article’s content—PLEASE: DON’T FEED THE TROLLS

        • Watchman

          Well Jaxon there are several ways of dealing with trolls. Don’t feed the trolls isn’t an effective method when the trolls keep coming back here and flooding the comment section. We aren’t talking about 1 troll either as there are a multitude in the comment section.

          • CASTIEL

            The problem its that we discuss serious problems and these idiots make fun of that situation…..when all collapse and that troll have no more internet…..she s going to put a bullet in the head

  • Heinrich van Rooi

    Again the Global Financial Markets WILL Crash. Do sound analysis… economic fundamentals are absolutely plunging..GFM’s just have a last strectch these days…The Global crash is coming…Look at China there a already bank defaults…That people can’t see a crash coming is bitterness..

  • p.p. cody Alwaystomorrow

    I am posting this for my grandpa because he said he wouldn’t any more.

    The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015.

    Published 6/25/2015.

    49 days until 12/31/2015.

    Lets do a count down until the end of 2015 and see just what happens.

    ——————————————————————————

    By Michael S, on July 31st, 2015.

    “And I kind of appreciate the countdown. It reminds people of my warning, and perhaps it will give some readers a renewed sense of urgency.”

    • Watchman

      Which means you are full of *insert word*. You are merely the same troll but you couldn’t restrain yourself from posting your silly little countdown.

      Moratum esse quod tu es.

  • Mad Monkey

    Copper is used in every industry with the price below 2007 GFC crash price, we are on the slippery road to destruction. Every day I only see indicators getting worse and more and more countries going broke. South Africa one of the so called BRICS nations will be the next to go broke.

  • fla2700

    This is strictly entertainment. I’m still waiting for the “Bo Polny” 11-2015 crash. I don’t hear too much about Rabbi Cahn anymore. Let’s give it a rest….

    • Watchman

      Why Are The IMF, The UN, The BIS And Citibank All Warning That An Economic Crisis Could Be Imminent?

      Can you answer that?

      • fla2700

        No, I cannot answer that. I do not believe they can either.

        • Watchman

          Actually they can but you can’t. They have provided explanations by their analysts but you call it entertainment. It seems you are the one trolling.

          • fla2700

            Why is it that when you post your opinion on this blog, you always have to deal with the troll brigade?

  • i wonder how much longer they can kick the can down the road?…..the ameri CAN

    • Watchman

      See the thing with can kicking is that the more they kick the can down the road the worse it becomes. If they had let the economy collapse back in 2008 without TARP and the subsequent QE programs America would have begun to rebuild. Now it will be much more painful.

  • Richard O. Mann

    So much going on in the world today. So many things coming together to make the perfect storm. Economy, Middle East, Russia, China, Iran, ISIS. Any one of which could take the world down into the pit. Combined, well, the trip will happen much faster with less chance of survival

  • jakartaman

    Too great to put into words?
    Let me help – “Hell on earth”

  • DJohn1

    What you are talking about is a decline in the prices of all commodities just before a crash on the stock market.
    Yet if you look at it, that makes the dollar buy more commodities than it has in the past.
    And what money is really about is it is a promise to pay in commodities.

    So the dollar gets stronger just before it fails?
    I think there is really something wrong with the entire concept.
    So if someone invested in commodities like copper after the smoke cleared from the crash, would that commodity reflect a greater value that could then be cashed in on inflated dollars?
    Sounds like a fixed game to me.

  • Priszilla

    Alibaba: Singles’ Day sales: US $8bn in 10 hours.

  • df NJ

    Thank God college basketball starts this week.

  • Watchman

    Michael once again thank you for showing the similarities between 2008 and 2015 currently. It seems that the 7 year economic cycle keeps repeating and no matter how many trolls or shills infest the comment section it only means your message is getting through. It’s too bad the everything is fine crowd will only understand once they are on the precipice.

    • Jazz

      Lmao. You are the biggest troll of them all.

      • Watchman

        You would know Zazz you use the same silly little avatar everywhere you go and you leave a footprint that can be seen from the edge of the galaxy. Your just comedic entertainment that’s really all you are good for.

  • Adam

    “JNK started crashing in June and July of 2008 – well before equities started crashing later that year.”

    Umm, no, stocks went down pretty much in lockstep with JNK in 2008, as anyone can see by comparing the JNK chart to the S&P 500 chart.

    “As I write this, the price of copper has fallen to $2.21, and it is already lower than at any point since the last financial crisis. To get a better perspective regarding what I am talking about, just check out this chart. This is one signal that is absolutely screaming that a major financial crisis is imminent.”

    According to that same chart, copper had been rising sharply from the beginning of 2006 until mid 2008, the exact opposite of what it’s been doing for the last 3 years while the stock market has been going up.

    “One more harbinger of financial doom on the horizon is the surging U.S. dollar. The U.S. dollar surged just before the financial crisis of 2008, and now it is happening again.”

    And again, according to the chart you linked to, the U.S. dollar was actually falling in the 2+ years leading up to the stock market crash. It rose more or less in lockstep with the stock market crash, not before it.

    No doubt there are reasons to be concerned about the stock market in the months and years ahead, but the author is just trying to scare people with this silly article. The charts he links to don’t really support his thesis at all – I can only assume that he thought no one would bother to check?

  • Heinrich van Rooi

    Brace yourself, because this crisis is dead ahead. For those of you who are interested in Junk BOND crash analyses,, take a step back and you’ll see that it absolutely got crush in 2008 -2009 when it was sitting below 30 points.. It has plummted once more form 35.77 to 35.50 and this suggest below 35 towards 33,trouble is brewing..A great fiinancial crisis is surely starting..

  • Sharmonese Bonquuet

    What happens if there’s no collapse?

  • RTL89

    Ok, I’m not saying that this FOR SURE means anything, but I’d just like to point out how disturbing it is that a few days ago, on this very article, I was backing up a claim that a past forum member had made regarding the economy in 2015 and how he said there would be a stock market crash on November 19th. What just happened today? A “terror attack” in Paris. What happened in 2001 just 3 or 4 days before the stock market crashed? That’s right.. 9/11. 3 or 4 trading days from now would be the 19th. Again, not saying it’s gonna happen for sure, but you gotta admit how disturbing this all is.

  • Philosopher2

    Where is Obama this weekend? At the G20 meeting in Turkey. LaGuarde, head of the IMF, announced that the Yuan was going to be added to the SDR basket this year.

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