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A 918 Point Stock Market Crash In Japan And Deutsche Bank Denies That It Is About To Collapse

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Financial Crisis 2016On Tuesday junk bonds continued to crash, the price of oil briefly dipped below 28 dollars a barrel, Deutsche Bank was forced to deny that it is on the verge of collapse, but the biggest news was what happened in Japan.  The Nikkei was down a staggering 918 points, but that stock crash made very few headlines in the western world.  If the Dow had crashed 918 points today, that would have been the largest single day point crash in all of U.S. history.  So what just happened in Japan is a really big deal.  The Nikkei is now down 23.1 percent from the peak of the market, and that places it solidly in bear market territory.  Overall, a total of 16.5 trillion dollars of global stock market wealth has been wiped out since the middle of 2015.  As I stated yesterday, this is what a global financial crisis looks like.

Just as we saw during the last financial crisis, the big banks are playing a starring role, and this is definitely true in Japan.  Right now, Japanese banking stocks are absolutely imploding, and this is what drove much of the panic last night.  The following numbers come from Wolf Richter

  • Mitsubishi UFJ Financial Group plunged 8.7%, down 47% from June 2015.
  • Mizuho Financial Group plunged 6.2%, down 38% since June 2015.
  • Sumitomo Mitsui plunged 6.2%, down 26% since May 2015
  • Nomura plunged a juicy 9.1%, down 42% since June 2015

A lot of analysts have been very focused on the downturn in China in recent months, but I think that it is much more important to watch Japan right now.

I have become fully convinced that the Japanese financial system is going to play a central role in the initial stages of this new global financial meltdown, and so I encourage everyone to keep a close eye on the Nikkei every single night.

Meanwhile, the stock price of German banking giant Deutsche Bank crashed to a record low on Tuesday.  If you will recall, Deutsche Bank reported a loss of 7.6 billion dollars in 2015, and I wrote quite a bit about their ongoing problems yesterday.

Things have gotten so bad that now Deutsche Bank has been forced to come out and publicly deny that they are in trouble

Deutsche Bank co-CEO John Cryan moved to quell fears about the bank’s stability Tuesday with a surprise memo saying its balance sheet “remains absolutely rock-solid.”

The comments come as investors grow increasingly nervous about the health of European banks, which have taken a hit on the fall in energy prices and which face rising concerns over their cash levels.

Of course Lehman Brothers issued the same kind of denials just before they collapsed in 2008.  Cryan’s comments did little to calm the markets, and even Jim Cramer saw right through them…

“You know, Deutsche Bank puts out a note saying, ‘listen, don’t worry, all good.’ Reminds me of JPMorgan saying if you have to say that you’re creditworthy then it’s already too late.”

Another thing that Lehman Brothers did just before they collapsed in 2008 was to lay off workers.  We have seen a number of major banks do this lately, including Deutsche Bank

Cryan, 55, has been seeking to boost capital buffers and profitability by cutting costs and eliminating thousands of jobs as volatile markets undermine revenue and outstanding regulatory probes raise the specter of fresh capital measures to help cover continued legal charges. The cost of protecting Deutsche Bank’s debt against default has more than doubled this year, while the shares have dropped about 42 percent.

The following chart comes from Zero Hedge.  Nobody on the Internet does a better job with charts than Zero Hedge does.  I would recommend visiting them right after you visit The Economic Collapse Blog each day (wink wink).  This chart shows that Deutsche Bank stock has already fallen lower than it was during any point during the last financial crisis…

Deutsche Bank Record Low

Deutsche Bank is the biggest and most important bank in the biggest and most important economy in the EU, and it has exposure to derivatives that is approximately 20 times Germany’s GDP.

If that doesn’t alarm you, I don’t know what will.

The biggest financial bubble in the history of the world has entered a terminal phase, and the parallels to the last financial crisis have become so apparent that just about anyone can see them at this point.  Just consider some of the ominous warnings that we have seen recently

Billionaire Carl Icahn, for example, recently raised a red flag on a national broadcast when he declared, “The public is walking into a trap again as they did in 2007.”

And the prophetic economist Andrew Smithers warns, “U.S. stocks are now about 80% overvalued.”

Smithers backs up his prediction using a ratio which proves that the only time in history stocks were this risky was 1929 and 1999. And we all know what happened next. Stocks fell by 89% and 50%, respectively.

Even the Royal Bank of Scotland says the markets are flashing stress alerts akin to the 2008 crisis. They told their clients to “Sell Everything” because “in a crowded hall, the exit doors are small.”

And let’s not forget that famous billionaire retail magnate Hugo Salinas Price has warned that the global economy “is going into a depression“.

The chaos that we have seen this week is simply a logical progression of the crisis that began during the second half of last year.  If you were to create a checklist of all the things that you would expect to see during the initial stages of a new financial crisis, all of the boxes would be checked.

In the days ahead, keep your eyes on Germany and Japan.

Yes, the Italian banking system is completely collapsing right now, but I believe that what is happening in Germany is going to be the key to the meltdown of Europe, and I am convinced that Deutsche Bank is going to be the star of the show.

Meanwhile, don’t underestimate what is taking place in Japan.

The Japanese still have the third largest economy on the entire planet, and their financial system is essentially a Ponzi scheme built on top of a house of cards that has a rapidly aging population as the foundation.

As Japan falls, that will be a signal that financial Armageddon is now upon us.

And after last night, it appears that moment is a lot closer than a lot of us may have thought.

  • Mondobeyondo

    There’s going to be a lot of sushi on the floor of the Nikkei exchange in the next several days… and just the fact that Deutsche Bank is denying there is a problem, shows how big of a problem it really is. We are at the edge of the abyss…

    • Bill G Wilminton NC

      Yes things are rapidly deteriorating……Japan collapse is startling…..

      • Liberty First

        Agreed, I just checked the overseas markets and could not believe it – another 2.5% drop or so? Jeez, things seem to be materializing. We will see if it is long and slow or hard and fast. Time will tell.

        • Bill G Wilminton NC

          I always said “Slow Motion Financial Avalanche” and even though things are rapidly collapsing in other parts of the world I still believe that The USA will be a slow motion drop but relentless.

          • Liberty First

            Yellen tomorrow will be interesting.

          • Bill G Wilminton NC

            Will she reverse position on interest rates, and if so, this could boomerang fore the world will then know what a desperate mess The USA is in. We are catching up to the rest of the world which is collapsing.

          • Xatos

            She will do absolutely nothing but talk. March is the month.

          • none

            When Yellen starts Yellen, then you will know something is up?

  • James Dohnalek

    Financial Armageddon is 100% REAL. Fact is, it is going to happen ?
    Answer is it is happening NOW. Destruction will go on for years. Safe guard your asset VALUES. Do not let them depreciate to little of nothing.
    Lastly, most importantly DO NOT LISTEN TO FINANCIAL MANAGERS, ASSET MANAGERS, MUTUAL FUND MANAGERS, Because they will tell you to STAY IN, STAY THE COURSE, IT IS A SOFT PATCH, IT IS A HIC CUP, IT IS A BUMP IN THE ROAD.
    After all these people will lose their jobs when the collapse destroys their asset empire which they now own and will soon lose.

    • Liberty First

      They will not lose their jobs. Bailouts happen. That is what sucks about this country right now. In a truly free enterprise economy, yes, they would lose their jobs. In a heartbeat. The janitor down the street would be earning more than these hucksters (and probably have higher moral character).

      • Bill G Wilminton NC

        I dont see any more bailouts as the bucket is EMPTY………..

      • Steve Hansen

        First we will see BailINs…! New rules was implemented January 1st this year all over Europe.

    • Steeve Girard

      Safeguarding values will not work. When the government will need to seize, they will seize.

  • K

    Deutsche Bank denies it is in trouble. No big surprise.,they always do that. While the company officials are selling stock, just as fast as they can. As to the market, nothing real about it. All smoke and mirrors. The market is just like a magic show. The people who applaud the loudest. Are the ones, who most want it to be real. But all magic shows end at some point. On the day reality is reestablished in the market. The plunge will be breathtaking.

    • Bill G Wilminton NC

      K…..great post and right on the money….I have my helmet and goggles ready for the crash but at 100 mph into a brick wall this will be bad.

      • SunnyFlaSnotress

        When do you expect the USA market to crash and by how much? A new panic switch goal would be entertaining.

        • Bill G Wilminton NC

          I have said over and over we are in “A Slow Motion Financial Avalanche” based on DEBT DEBT DEBT !.

          YOU ASK…When Will The Market Crash ? When you get rid of that Ridiculous Picture and BLOW your nose….

          • SunnyFlaSnotress

            Then we’re all in good luck!.. ain’t gonna happen :)

        • Elsajroos1

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    • A guy from Ukraine

      This is not only about Deutsche Bank collapse. Michael has been repeatedly referring to the whole thing as the history’s largest Ponzi scheme collapse, which in my view, is the single most correct definition for what is happening. We still have time to prepare, the collapse is going to be devastating, like nothing witnessed before and will sure have the world map restructured when all is said and done.

    • Phil from Germany

      Question is, just how much of the German economy will be wiped out for ever ?, going to have a world wide ripple

      • K

        Consider this. Germany, thought to have the strongest economy in Europe. But the German leaders know better. They know there are large cracks in the economy. They know they have misled the people. Now they fear the peoples reaction to having been lied to. So you bring in a large group of foreigners, with known violent tendencies. Now you hope the German people, will stayed focused on the crazy foreigners. And not so much notice, what the economy is doing. A very dangerous game. If the German people figure it out. Am I positive, this is what is happening? No. Just something to consider. For me, the timing is just a little too perfect.

    • fwalker000

      100% fiction

      • K

        What I wrote? Or Wall Street?

        • Rorschach

          Don’t mind him he’s just SP2300ROFL who is a known troll.

      • Bill G Wilminton NC

        SP2 how are things……you seem to be quiet lately………

    • This will go on forever

      Deutsche bank will be bailed out. Whatever negative stuff michael writes about ALWAYS gets fixed.
      Here is my favorite ” derivatives bomb about to explode…something crumbling behind scenes” or something like that. Yet tomorrow always comes without much change.
      Watch oil though right? Lololololol

      • Igor Dano

        how should the bail out work?
        how to bail out $6.7*10^13?
        67.000.000.000.000 is entire GDP of the whole planet in one year. You need a second planet…..
        ETs will lend us some money?

        • Pic889

          Banks never get bailed out on the fictional value their derivatives. They get bailed out according to how much money they need to feed the ATMs and teller drawers.

          Of course, when the bank makes a winning gamble, by betting the customers’ deposits on the fictional value of derivatives, they keep the obscene profits.

        • Ricardo

          You do a reset. Everything will be wiped off the books and the Papacy will instigate their socialism policy under the guise of helping the poor. Those who take the Mark of the Beast will be able to carry on trading, selling and for those who don’t we will be looking for the return of Jesus Christ in the clouds.

          These are the times of the end.

      • K

        You act as if a collapse has never happened before. It has, and it will again. The only question, is the timing.

        • jox

          Nope, the only question is the consequences. Another world war?

      • Marty Mann

        I agree things are bad but you are absolutely correct. This thing has and will drag on for decades. Theres to many preventive measures in place that werent there in 08, so like I said in another post, its two steps forward and one step back at this time. Personally I couldnt care less if the whole ship went down this very second, Im prepared and have the proverbial “cabin in the woods” just waiting for my family and I, but at the pace were going, I’ll be dead and buried for 80 years before anything happens.

        • Marty Mann

          OK so I was pleasantly surprised that the Dow nose-dived yesterday in the last 30 minutes of trading and now we have futures down nearly 300 points this morning. This could be an awesome day!!!!

      • David_R59

        Actually they’ll be “Bailed IN”. It’s all been set up since the Cyprus bail-ins.
        The G20 all signed on.

        • Bill G Wilminton NC

          Could be possible……..

    • Rorschach

      Deutsche Bank is one of the looming Lehman Brothers or Bear Sterns. It’s funny how this was warned about time and time again but so many chose to ignore this. Your right when Deutsche Bank goes down with the $60 Trillion exposure it will be beautiful and breathtaking. You can’t bail-in or bail-out $60 Trillion in derivatives.

      • Steeve Girard

        Unsure if it can’t be done…you know those people have a great imagination at the expense of the common people.

    • arf

      Market crash, a smile…War, a chuckle…The looks on the sheeples faces when the s%&t hits the fan….PRICELESS!!!

      • SunnyFlaSnotress

        Daddyotis likes that comment.. figures.
        People laughing at the misfortunes of others.. Instant Karma’s gonna getcha.

  • Liberty First

    Deutsche Bank came out and said that it is rock solid. Conoco Phillips last quarter said they would NEVER cut the dividend.

    So go figure . . . .

  • nevergiveup

    Some pretty incredible and terrible things we are seeing in world news. One of the issues is we can get desensitized to it all. As long as we have Internet access, Netflix, macdonalds and a credit card that’s not maxed, it will ‘all be ok.’ It is not all ok. Best thing to do at this stage is to get right with God through Jesus Christ and stay right with Him by His grace…and expect persecution when you do.

    • Bill G Wilminton NC

      Well said…..get right with God as not much time left.
      Shalom

    • Bob332

      A BIG Amen!

    • df NJ

      I still think the rapture happened in 2000 and you all are still waking up to the fact.

      • Bill G Wilminton NC

        The Rapture did not happen in 2000…..for many obvious reasons….starting with the many millions who love Yeshua are still here.

        Where do you conjure up your repetitive nonsense…….

        You are not a Biblical based person and without that you have no idea.

    • Steeve Girard

      !! WARNING!!
      This section of comments contain religious insanity, including wiener worship. Put an aluminum brain wave repelling hat and protection bib before entering!

      • Bill G Wilminton NC

        When snot nose is your only approval flag this speaks volumes especially when his logo is a VAMPIRE and yours is a HEXAGRAM……just hilarious……

      • nevergiveup

        LOL! Am I supposed to be offended? Nice try.

    • SunnyFlaSnotress

      I prefer Walmart, McDonalds and a Credit Card.

      • nevergiveup

        :) – I know we don’t agree on lots of stuff Sunny but your sense of humour is sharp. I would never want to get into a wit battle with you. Hope that move to the city has gone well / will go well (Being genuine).

        • SunnyFlaSnotress

          Thank you.. almost finished w/the old place. Taking a break from changing out the doorknob that I replaced w/a locking one.

  • Dio Jones

    … and the blind refuse to see it…. business as usual for “christians” while the world burns….

    Always be a light that is .shininginthedark.

  • Marty Mann

    Dryships has the BDI falling two more points over night to settle at another all time low of 291, yet Forbes and others insist its supply not demand. Too many ships built they say, yeah Im falling for that load of $@!#!!!

    • Bill G Wilminton NC

      YUP….and the BSI index ( bullsh*t index ) just keeps going up……

    • dlewenz

      CNBC Talking heads just said, that the Index is down due to China focused on internal consumption vs. exports! Say what???

  • Paul Mac

    Not only are the Japanese banks failing but Yoko Ono is releasing anew album. We are doomed!!!!

    • Bill G Wilminton NC

      It could be worse YOKO could be doing the album nude !

      • df NJ

        She never does an album unless she’s in the nude.

    • Steeve Girard

      lol

  • Creepy Pedro

    lol like who?

  • CharlesH

    Whoa…I resemble that remark. ;-))

    • Guest

      Resemble? I think the word you meant was resent.

      • CharlesH

        No – I was being sarcastic. I read ZeroHedge all the time and I do comment so of course I RESENT being called disgusting.

  • Bill G Wilminton NC

    In what way disgusting……..I check zero hedge multiple times a day for updates……but not their comments.

    • K2

      A lot of anti-semitic comments on there. I stopped visiting that site because of that. Sad that michael is trying to drive traffic from here to there.

      • Igor Dano

        do you read also news and sites form Israel?
        Is everything O.K. with them?
        I have not seen a singe ad hominem at ZH, which would not be punched by the readers themselves.
        What are u going to do with the fact, that 99% of Marxist bolschewiks in SU were khazarian origin, like the grandson of Israel Blank (Lenin), or Bronstein (trotzkij).
        Tired of you.
        Just think about another one, Soros, who wishes 3mil. Islamist immigrants per year to settle down in EU.
        Why are u surprised about people not liking Soros-like and his tribe?

      • Bill G Wilminton NC

        How is he trying to drive traffic from this blog to there ?.

        • K2

          by recommending people to check out that site after reading this site.

          • Bill G Wilminton NC

            When did he ( Michael) suggest that…..

          • K2

            in this article.

          • Bill G Wilminton NC

            Sorry I misunderstood your point… I read Michael to say REVIEW their research articles and or CHARTS….which I do often during the day….but Michael never said read their comments section….I believe.

          • K2

            I never said michael said to read their comment section

          • Bill G Wilminton NC

            Good great ……done with that, thanks.

          • K2

            Its not done yet :) By saying that he is driving traffing to that site.

  • Mike

    I agree. Not the classiest of comments to read.

    • Rorschach

      There’s good comments and then there is bad comments just like with any website. But I agree that it really takes time to filter out the comments.

    • Mr. Jameson

      At least zerohedge isn’t inundated with trolls like sp2300 and sunnysnotard. I read comments there and it’s more or less idle commentary on the undeniable BS casino of the stock market. They are all too well aware of the manipulation and just waiting for the ugly to rear its head in full view of all. No point in commenting on obvious truth to anyone who will honestly look. We’re doomed and it’s just a matter of timing.

  • Christoph Weise

    It is a mistake to assume that only banks in the EU are in trouble. All major banks in the world have been on life support from the central banks for several years now and their balance sheets are not providing realistic information since the accounting standards have been changed to keep the banks afloat and special risks have been put into dark boxes.

    • Bill G Wilminton NC

      Mr Weise you are a Wise man…….the US banking system is insolvent.

      Ha ha the bank accounting standards were turned on their head in 09, as you said to keep the insolvent banking system afloat.

      I have a friend in NJ who has been in his house for 7 years without making a mortgage payment, taxes or insurance. He says to me I wonder how many of my neighbors are in the same position. The house is in a upper middle class area of New Brunswick NJ.

  • HeyAHuman

    That One World Currency just can’t come quickly enough. Is each country just going to worry about its own stock market? If ours gets better, and theirs and theirs get worse, then it’s okay? Nope. This calls for a consortium that will oversee ALL of it. Just sign on, or PERISH.

    • Bill G Wilminton NC

      You will get your wish soon enough……….

  • Phil from Germany

    Something on German TV last night I have never seen before. On the national news the health of Deutsche Bank was openly questioned. Up to now its “Nothing wrong here “. Just made me think , just how close are they now to a collapse ?.

  • El mico

    Australian shares have technically entered a bear market.

  • df NJ

    Once we see $1.25 per gallon gasoline maybe the economy will improve.

    • Mike Smithy

      I think we just might see gas at $1.25 per gallon. Even so, I don’t see the economy improving anytime soon.

      • GSOB

        Though the fig tree should not blossom And there be no fruit on the vines, Though the yield of the olive should fail And the fields produce no food, Though the flock should be cut off from the fold And there be no cattle in the stalls, Yet I will exult in the LORD, I will rejoice in the God of my salvation.…

  • Marty Mann

    Japan is down over 2 points this morning but that has no effect on Europe or US futures. Everything is booming again this morning in the west. We may get the meltdown in our lifetime…or not.

    • df NJ

      What’s more likely, we get the meltdown of our life or the zombie economy just moans along like it has since 2008? Eight years now of moans. Our economy is not really alive but it’s not really dead either. Zombie.

  • TtT Engine

    Soul Savers, the U.S. monetizes $2-$3 billion/day. We have been building a massive debt bomb for 20 years already. This has been the world model for decades already. We have been far away from generally accepted monetary/accounting methods since 1973. This is long already been the Planet Earth Ponzi Monopoly Game. What would happen if BIS/IMF/US Fed Reserve attempted a gargantuan bailout to the sound of $ 1/2 quadrillion ? Does anyone know ? Will they attempt it ? PREP YOUR SOUL and your house to the best of your ability ! Blessed Lent to all. “Remember Man that you are dust and unto dust you shall return” Christi Fidelis !!

    • df NJ

      google “Household Debt to GDP for United States”

      Down sharply over the last 10 years.

      • Bill G Wilminton NC

        DEBT numbers increased by states, towns, corporations and student loans to offset any decrease in household debt.

        Also the GDP number is greatly enhanced by inflation and absurd inputs like (as just one example) class action legal settlements etc etc.

        In other words the numbers are skewed like all the other gov numbers….like unemployment at 5%.

  • Bill

    Yellen’s yapper is a non factor as the market futures are on their way back down to reality after launching triple digits this morning. The PPT is even showing weakness. New Hampshire shows that the establishment is going down hill also. Even a replacement team in D.C. May not save the U. S. Economy as it will be overwhelmed by the fall of the global economy and it’s debt.

  • billtheguy

    If I were one of many sheep, I would read Yellen’s comments and be Hooray! we’re motoring thru the crap and all is well. Then I would go read about Kim Kardashian’s baby. (not!!!!!)

  • Rick

    So when people in Japan and Europe lose their jobs, can’t they just come to America through our open boarders program and be taken care of by our government? Or am I missing something here?

    • df NJ

      Most of the government outsourcing is to foreign contractors.

      • Bill G Wilminton NC

        Sir that is an over simplification…… where do you get your statistics……I do not believe that you are accurate.

    • Bill G Wilminton NC

      Ha ha good point but not that easy yet……but when I think of it WHY NOT…..we are toast BY DESIGN.

    • paul

      America has limited appeal for people in japan and europe due to the balance of cost & quality of living moving against america. America is not the honey trap it once was 20 years ago although it still makes rather large and cluncky cars !

  • Richard O. Mann

    Red lights going off all around the net. Have seen three or fore headlines this morning from various sites, all saying that the world economy is taking a head dive. By the word of two or more witnesses, let the truth be established. Or something like that. Any how, looks like just a few days left before this world enters into totally deadly waters. A totally new world awaits us. But, not such a pretty one.

    • Bill G Wilminton NC

      Richard O Mann great post….I believe that we are in those deadly waters right now and the NWO designers are holding a detonation button…… will they push this button….or will THEY continue the slow motion financial collapse that we appear to be in.

      This is a spiritual battle and if you know your BIBLE you know what is coming…..and your trust is in The Lord.

      Shalom

  • df NJ

    “Light overcame the darkness,” Kasich said.

    Wow, amazing election hyperbole!

  • Selaretus

    I once had money with actual value
    A market shill said a bridge I’ll sell you
    He’d tell me when to sell and just in time
    So I bought it on margin to the very last dime
    Encouraging words came without ceasing
    I was rich, I guessed, my wealth increasing
    Then I learned the bridge I went for, were just
    lines of code in a Ponzi coffer
    I lost all that money with actual value,
    But I have a bridge I’d love to sell you

    Suckers

    • df NJ

      I once I had conversation with a friend of my father who told this story that he was able to buy a small airplane from interest income of his CDs. It’s amazing how far we’ve come in so many years. Boiling frogs never sweat.

  • pulltheweeds

    Louis Rukeyser must be turning in his urn .

  • jox

    I’m looking for the comment of Jazz, but I can’t find him. Hey Jazz, you have a golden investing opportunity here: stock of Deutsche Bank is very cheap, and I’m sure it’s going to go up up up, as you always say, remember?

    • Bill G Wilminton NC

      Jazz, SP2, and Dow2500…all Losers and all have gone to Loserland…….

      • Mike Smithy

        Don’t forget to include James.

        • Bill G Wilminton NC

          ha ha lol thanks Mike who could forget James what a LOSER….

          • df NJ

            Which is better: Losing or Winning at Losing?

          • Mike Smithy

            I wonder how Charlie Sheen would answer that question.

          • GSOB

            Deuteronomy 13:3
            you must not listen to the words of that prophet or dreamer. The LORD your God is testing you to find out whether you love him with all your heart and with all your soul.

          • Bill G Wilminton NC

            This is not a Bible Study but a Financial Discussion………

          • GSOB

            You already said that. Forget?

          • Bill G Wilminton NC

            Nope and this is not a Bible Study.

          • GSOB

            Your treasure is of the earth.

          • Bill G Wilminton NC

            Wrong I am a Pilgrim passing thru…..my treasure is stored in heaven.

          • GSOB

            In your head.

          • Bill G Wilminton NC

            Take your meds and go to bed…….also I am not able to answer your posts in the future. Thanks for your contribution to the blog…it was nice.

          • GSOB

            Don’t just think about your own affairs, but be interested in others, too, and in what they are doing.

            Philippians 2:4

          • Bill G Wilminton NC

            OK have a good nite….maybe a big day tomorrow.

          • GSOB

            Job 33:4
            The Spirit of God has made me; the breath of the Almighty gives me life.

          • Bill G Wilminton NC

            Being right with God is better

          • GSOB

            2 Kings 23:27
            So the LORD said, “I will remove Judah also from my presence as I removed Israel, and I will reject Jerusalem, the city I chose, and this temple, about which I said, ‘My Name shall be there.'”

          • GSOB

            Your eyes are too pure to approve evil, And You can not look on wickedness with favor. Why do You look with favor On those who deal treacherously? Why are You silent when the wicked swallow up Those more righteous than they?
            Habakkuk 1:13

      • Humpty Dumpty

        CORRECTION; all people who have been blocked for offering a alternative view to King Michael’s one sided income generating view.

        • Mike Smithy

          I think Michael is very fair and welcomes diverse opinions on his site.

          • Humpty Dumpty

            As long as they are not opinions that do not bring up the fact that his predicting ability is terrible.

            Knowledge of impending doom is completely useless without an accurate timetable, which is impossible to do.

            Things are bad. Things are getting worse. Be prepared…….there. I have summarized years of blogging for Mike.

            This is how he makes his living, by keeping you thinking the end is TOMORROW. Tune in tomorrow to see how close we are now.

            I have found that many unhappy, unsuccessful, unproductive people who are miserable in life look forward to a collapse so they can see the whole world be as unhappy as they are.

            You know. the “misery loves company” thing.

          • Bill G Wilminton NC

            In spite of all the dire predictions and the market ( dow ) is now down 2600 pts some people are still believing that all is fine…….we ( USA ) are still a powerhouse and nothing will happen because this is The USA.

            Michael has been pounding the evidence into peoples brains for years now……and look you dont agree with Michael you feel that anyone who agrees with Michael is an unproductive, unsuccessful person.

            The thing that you do not get is that we collapsed in 08 and we have never corrected THEY just threw DEBT at a DEBT problem….you get it….we already got 4 flats and we have been driving on fake tires with just air no rubber or rims…..all fake….and this has been unraveling since tarp and everytime destiny came calling we threw more DEBT at the uncorrected problem.

            QE 1, 2, 3, 4, Twist, and QE to infinity are you waking up. It is all BS DEBT and the high-speed fans are getting ready to come on…..we face this financial calamity inevitably. Remember Fed Chairman Bernanke in 07 he said the economy is strong and there is no problem with REAL ESTATE. This is what Michael is dealing with in HIS PREDICTIONS ….corruption, deceit, ineptitude, delusion, and our traitorous leaders following orders of the NWO minions of Satan. Their goal is Globalism and The USA has to go down to accomplish this . The USA is like the plug in the dam but THEY are going to take the whole dam down( the USA ) to accomplish their goal of New World Order, with One World Gov, One World Money, and One World Religion.
            Get right with Jesus.

            Shalom

          • Mike Smithy

            Amen brother.

          • Humpty Dumpty

            When you tell me to “Get right with Jesus”, I am going to assume that you are right with Jesus. And if that is the case why are you worried about a collapse?

            I was under the assumption that Jesus takes care of those who love and follow him. Maybe I just don’t understand.

          • mtntrek3

            Jesus wants us to do what we can to provide for and protect ourselves. We do what we can while we can….. God handles the rest.

          • df NJ

            I’m just glad someone is here to speak for the almighty. Where would be without people speaking for God?

          • TtT Engine

            Common sense guided by virtue, Judaio-Christian values, prayer, good deeds and grace have always been close to God. God uses The Holy Bible and special messengers throughout history to spread His word. When someone utters the words “god bless planned parenthood” you KNOW he is not a man of God ! Christi Fidelis !!

          • GSOB

            Daniel 4:17
            “‘The decision is announced by messengers, the holy ones declare the verdict, so that the living may know that the Most High is sovereign over all kingdoms on earth and gives them to anyone he wishes and sets over them the lowliest of people.’

          • Bill G Wilminton NC

            Our country The USA has turned its back on God and is even shaking its fist at God by the passing of “same sex marriage” and then throws snowballs at God by lighting up the WhiteHouse in the pastel colors representing GAYNESS. Not a good thing to shake your fist or throw snowballs at GOD.

            We cant speak for God but only the words of God in The Bible.

          • GSOB

            2 Thessalonians 2:13
            (KJV)

            13 But we are bound to give thanks alway to God for you, brethren beloved of the Lord, because God hath from the beginning chosen you to salvation through sanctification of the Spirit and belief of the truth:

          • Harry Merkin

            I don’t believe in God. However, I admit very freely that this country was much better when we had Christian morals everywhere. Now they’ve been taken out of school, out of every place that matters. If we had got back, no abortion, morals, proper school teaching, then we would be much better as a society.

          • SunnyFlaSnotress

            You know some people still reconsider cave dwelling too.

          • Ricardo

            From my tiny island you are a moron. Go back to your cave.

          • SunnyFlaSnotress

            Honestly, NosPick, I had a co-worker who was telling me of a guy who wanted him and his wife to move to a cave..

          • GSOB

            God is invisible.

            For the invisible things of him from the creation of the world are clearly seen, being understood by the things that are made, even his eternal power and Godhead; so that they are without excuse:

            Now unto the King eternal, immortal, invisible, the only wise God, be honour and glory for ever and ever. Amen.

          • GSOB

            Question is, has He spoken to you?

          • GSOB

            Let your moderation be known to all men. The Lord is at hand.

          • Bill G Wilminton NC

            Mr. Humpty Dumpty………Your assumption that I love and follow Yeshua (Jesus) is correct.

            I am right with Yahwah (God) as “I asked His Son Yeshua (Jesus) for forgiveness of my sins and to live inside me and also to be my Lord and Master” this does not make me better than anyone but makes me FORGIVEN and “BORN AGAIN” which is a Free Gift through the Graciousness of God. You receive this Gift just by asking as you cannot EARN this Gift ” by good works “.

            I await “The Rapture” before the beginning of The “Tribulation” which the Bible says will be the WORST TIME of persecution in the history of the world. Worse than Nero and Hitler combined.
            I am what is called pre-tribulation Rapture believer….Michael is a mid-tribulation Rapture believer. It is obvious that you are not a believer of either timetable.

            I have no fear I trust in the Lord Yeshua….

            Shalom

          • GSOB

            Psalm 56:3

          • GSOB

            Smart people worry.

          • rentslave

            It’s also possible that people are looking for a collapse to lower real estate to its REAL price.

          • jox

            Don’t spend your time here with losers. Go buy some stock (Deutsche Bank is a good opportunity right now), and continue with your happy life.

            When you say ‘misery loves company’, you know from self-experience?

          • SunnyFlaSnotress

            lol.. type god dess as one word

        • Bill G Wilminton NC

          Humpty go find a new wall to fall off…..

        • max gon

          BS, I have criticized Michael several times in the past and never been blocked on this site.

        • Harry Merkin

          Michael has not blocked those accounts. I think they can’t reply to this one without looking foolish.

    • df NJ

      I used to work for Deutsche Bank. It wasn’t a bad place to work. The best thing about working for banks is they pay the best salaries. When you occupy the biggest buildings in the biggest cities you must be doing something right. I’d rather have them pay me than some other fascist. Life rolls on….

  • Bill G Wilminton NC

    Wahoo what in the world is this post…….I could use some of WHAT this dude is smoking everytime I see Hillary on the TV…….

  • Philosopher

    Another excellent article! Thank you!

  • dlewenz

    It’s 5:33am and the talking heads on CNBC are Freaking Out! futures down 350 points EU markets crashing and the EU Bank Presidents are telling the world, “Nothing to see hear, move along”

    • df NJ

      Looks like we are heading to double capitulation. It could end being the buying time of a lifetime. I guess the markets don’t like Bernie or Trump after all. If this continues all year I think it helps Bernie or Trump get elected. A self-fulfilling bad prophecy for Wall Street.

      • Bill G Wilminton NC

        This COLLAPSE has nothing to do with Bernie or Trump……it is about DEBT and INSOLVENCY created through CORRUPTION/COLLUSION in government, banking and financial services.

        A SLOW MOTION FINANCIAL COLLAPSE to bring in NWO and GLOBALISM.

  • df NJ

    “HSBC’s ends global pay freeze after less than two weeks following employee feedback.” That’s one way to wake up the beast! I guess the prospects of negative productivity were more than management could bear.

  • df NJ

    40 years ago my big success was feeling up a young girl. Christ, I can’t believe it’s been this long!

    • Bill G Wilminton NC

      df NJ….You use Gods name in VAIN…..YOU get the distinction as that is a FIRST on this blog….why dont YOU join SP2, Jazz, James, and Dow2500 in Loserland…..where you belong !!!!!

    • Bill G Wilminton NC

      Pathetic…………

  • df NJ

    We need a strong right wing government to get in power, seize up all the gold held in private, and put this country back on the right path to glory and power.

  • nevergiveup

    The lowest point that the DOW went to last year (as many of you know) was 15,666.44 (On 5th August I think). It has just gone below that today which must be significant. And the time before August 15 that it was that low was approximately October 2013.

  • Apparently now, even some main media begins to acknowledge the US being in Recession since late 2015… if that is not enough for everyone to really see we are in troubled time i don’t know what is…

    In Europe, with the admission of the pundits and its own CEO, Deutsch Bank is in serious deep trouble over in Europe, and their exposure to derivatives is $55 Trillions, more than the whole Eurozone GDP. It lost more than 45% value since its last July high.

    In french speaking newspapers (Le Soir, main Belgian paper for instance) openly speaks about the new “depression”, not just for Europe, but in other places also. The Petrodollar is in serious danger, more and more business are done using non-dollar currencies. Yep, we are in deep trouble…

    Personally I think like some that in the real short term, and for a really short period, the Green Buck will be seen as a safe haven and gain some strength – and we could see a buying of US Treasury Bonds. But, it will be unraveling fast when reality will struck the buyers that the US are in a worse condition than even Europe is. Then the feces will hit the rotary oscillator…

  • The GOOSE

    I hope some of you people own GOLD.

    • Sandbagger

      Is that the goose that lays golden eggs? *wink*

      Our geese have arrived from their winter vacations and are scouting their old nesting place. It’s a good sound.

      Spring has sprung.

  • Stasia

    Does anyone else notice that during the last few weeks the stock market is down 300 – 400 points on an almost daily basis, and then during the last hour seems to pull back up?

    • Bill

      It’s rigged.

    • Jacynthia Read

      Plunge Protection Team doing its job to hold back the inevitable just a little longer.

    • Bill G Wilminton NC

      Plunge Protection Team or PPT at work..haha I just noticed that Jacynthia Read already had it covered….good job Jacynthia.

  • Mondobeyondo

    From Reuters, February 10, 2016:
    ———————————————————-
    “The Baltic dry index is down about 98 percent from its peak of 11,793 points in May 2008, marking the lowest level since the records began in 1985. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, fell by 1 point to 290 points.”

    Can you hear the voice of the late Howard Cosell saying, “Down goes Baltic! Down goes Baltic! It’s hit the canvas!”

    • Bill

      I wonder what the lead time is for the BDI to forecast the general economy and stocks? Surely something drastic will follow this unprecedented drop.

  • Sandbagger

    And the prophetic economist Andrew Smithers warns, “U.S. stocks are now about 80% overvalued.”

    Doing the math, as of today if the market tanked 80%, the Dow would be at around 3000!

    Sure am glad the last crash opened our eyes and we got out of the 401k(rap).

  • Jim Clark

    If you look at history intelligently (which 98% of the posts here don’t) you will see that in the last 45 years, the international markets have had 10 bear markets. Out of those ten, a year later eight of them had positive returns. Over three years, nine had positive returns. All ten did after five years. So if you have working brain cells, you should buy! buy!! buy!!!

  • jakartaman

    Hope it happens quick – this death by a thousand cuts is very painful

  • Diabolus Candidus

    I read CNN and some other pop news sites. When they talk about the crashing oil prices, they don’t try to explain in any detail why the prices are through the floor. “Oversupply” is a common word. It’s question begging.

    Or we think, “Wow, those oil producers just don’t know when to stop!” Would you keep producing a commodity knowing that you were losing future profits? Oil will be more valuable in the future. It’s the sine qua non energy source for civilization. Why would producers keep overproducing, for months, instead of waiting for the future?

    MSM news acts like the price of oil is just something that changes and when it changes, who knows why exactly?

  • Mondobeyondo

    For those still keeping track of “the world will end on _______”…
    The latest date is now April 13, 2016.

    Don’t know how they arrived at that date… maybe it’s a Friday and there’s a full moon. Who knows?! Anyhoo, based on previous end of the world dates, don’t expect anything out of the ordinary…

  • David

    with all the stocks over inflated and overvalued isn’t that the same as quote: “Cooking the books”? I remember this is what Enron & Worldcom did and they both went belly up with Worldcom’s CEO getting a 25 yr sentence. so why is it the people or bankers that caused the last crash in 08 for Cooking the books on wall street not in Jail?

    • Bill G Wilminton NC

      Government “COLLUSION” with Corporate, Banking and Financial Corruption……

  • “Nobody on the Internet does a better job with charts than Zero Hedge does” – that’s a true statement if you’re retarded and need ten arrows on each chart to explain it

  • GSOB

    Job 7:6
    “My days are swifter than a weaver’s shuttle, and they come to an end without hope.

    • Bill G Wilminton NC

      This is not a Bible Study…… all your posts are Bible verses……the issue is The Financial System is in Collapse.

      • GSOB

        It’s what I make it.

    • GSOB

      Psalm 42:5, 6a

      Why are you in despair, O my soul? And why have you become disturbed within me? Hope in God, for I shall again praise Him For the help of His presence. O my God, my soul is in despair within me; Therefore I remember You…..

    • Bill G Wilminton NC

      This is not a Bible Study…..what is your problem.

      • GSOB

        Should be..

        • Bill G Wilminton NC

          I go to three per week but everyone knows why they are there its a A BIBLE STUDY

          • GSOB

            Good for you.

          • Bill G Wilminton NC

            And I am not at a Bible Study on this site……what is your problem…

          • GSOB

            Sin

          • Bill G Wilminton NC

            So read your Bible………and pray.

          • GSOB

            I do and I am.

          • GSOB

            You spoke the right thing and the truth there.

  • paul

    Goverments in japan and europe have more respect for the population through welfare and health and as what happened during the last crash formulated buy the stupid american bankers unemployment was greater in america than in japan and europe, as I said before america is no way the honey trap it once was…

  • The tipping point will come when 51% of world trade is settled in some currency other than U.S. dollars.
    Then the light show will begin.

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