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Commodities Collapsed Just Before The Last Stock Market Crash – So Guess What Is Happening Right Now?

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Grid Stock Exchange Economy Finance - Public DomainIf we were going to see a stock market crash in the United States in the fall of 2015 (to use a hypothetical example), we would expect to see commodity prices begin to crash a few months ahead of time.  This is precisely what happened just before the great financial crisis of 2008, and we are watching the exact same thing happen again right now.  On Wednesday, commodities got absolutely pummeled, and at this point the Bloomberg Commodity Index is down a whopping 26 percent over the past twelve months.  When global economic activity slows down, demand for raw materials sinks and prices drop.  So important global commodities such as copper, iron ore, aluminum, zinc, nickel, lead, tin and lumber are all considered to be key “leading indicators” that can tell us a lot about where things are heading next.  And what they are telling us right now is that we are rapidly approaching a global economic meltdown.

If the global economy was actually healthy and expanding, the demand for commodities would be increasing and that would tend to drive prices up.  But instead, prices continue to go down.

The Bloomberg Commodity Index just hit a brand new 13-year low.  That means that global commodity prices are already lower than they were during the worst moments of the last financial crisis

The commodities rout that’s pushed prices to a 13-year low pulled some of the biggest mining and energy companies below levels seen during the financial crisis.

The FTSE 350 Mining Index plunged as much as 4.9 percent to the lowest since 2009 on Wednesday, with BHP Billiton Ltd. and Anglo American Plc leading declines. Gold and copper are near the lowest in at least five years, while crude oil retreated to $50 a barrel.

This commodity bear market is like a train wreck in slow motion,” said Andy Pfaff, the chief investment officer for commodities at MitonOptimal in Cape Town. “It has a lot of momentum and doesn’t come to a sudden stop.”

Commodity prices have not been this low since April 2002.  According to Bloomberg, some of the commodities being hit the hardest include soybean oil, copper, zinc and gasoline.  And this commodity crash is already having a dramatic impact on some of the biggest commodity-producing nations on the globe.  Just consider what Gerald Celente recently told Eric King

We now see that the Australian dollar is at a six-year low against the U.S. dollar. What are Australia’s biggest exports? How about iron-ore and other metals.

If we look at Canada, their currency is also now at a six-year low vs the U.S. dollar. Well, Canada is a big oil exporter, particularly some tar sands oil, which is expensive to produce.

We also now have the Brazilian real at a 10-year low vs the U.S. dollar. Why? Because it’s a natural resource rich country and they don’t have a strong market to sell their natural resources to.

Meanwhile, the Indian rupee is at a 17-year low vs the U.S. dollar. This is because manufacturing is slowing down and there is less development. If the Americans aren’t buying, the Indians, the Chinese, the Vietnamese — they’re not making things.

All of this is so, so similar to what we experienced in the run up to the financial crisis of 2008.  Just a couple of days ago, I talked about how the U.S. dollar got really strong just prior to the last stock market crash.  The same patterns keep playing out over and over, and yet most in the mainstream media refuse to see what is happening.

Something else that happened just a few months before the last stock market crash was a collapse of the junk bond market.

Guess what?

That is starting to happen again too.  Just check out this chart.

I know that I must sound like a broken record.  But I think that it is extremely important to document these things.  When the next financial collapse takes place, virtually everyone in the mainstream media will be talking about what a “surprise” it is.

But for those that have been paying attention, it won’t be much of a “surprise” at all.

When the stock market does crash, how far might it fall?

During a recent appearance on CNBC, Marc Faber suggested that it could decline by up to 40 percent

The U.S. stock market could “easily” drop 20 percent to 40 percent, closely followed contrarian Marc Faber said Wednesday—citing a host of factors including the growing list of companies trading below their 200-day moving average.

In recent days, “there were [also] more declining than advancing stocks, and the list of 12-month new lows was very high on Friday,” the publisher of The Gloom, Boom & Doom Report told CNBC’s “Squawk Box.”

“It shows you a lot of stocks are already declining.”

Others, including myself, believe that what we are going to experience is going to be even worse than that.

We live in such a fast-paced world, and most of us don’t have the patience to wait for long-term trends to play out.

If the stock market is not crashing today, to most people that means that everything must be fine.

But once it has crashed, everyone is going to be complaining that they weren’t warned in advance about what was coming and everyone will be complaining that nobody ever fixed the things that caused the exact same problems the last time around.

Personally, I am trying very hard to make sure that nobody can accuse me of not sounding the alarm about the storm that is on the horizon.

The world has never been in more debt, our “too big to fail” banks have never been more reckless, and global financial markets have never been more primed for a collapse.

Amazingly, there are still a lot of “experts” out there that insist that everything is going to be okay somehow.

Of course many of those exact same “experts” were telling us the same thing just before the stock market crashed in 2008 too.

A great financial shaking has already begun around the world, and it will hit U.S. financial markets very soon.

I hope that you are getting ready while you still can.

  • Guest

    If I lose my job I have enough cash to live for about 3.5 years. That’s assuming my monthly expenses stay where they currently are. Is that a fair assumption? I don’t know. We just don’t know how this is going to play out. I believe that we’re going to have deflation first followed by inflation and eventually hyperinflation. But when asset prices drop during deflation, will the prices of things we need to live–food, gasoline, toiletries, haircuts, shoes, etc.–also drop? I don’t know.

    I’m hoping that we have a least a few more months. There are several things that I still need to buy, like a chest freezer for additional food storage.

    • Papa J

      Guest, instead of freezing, try canning. Even your meats. It is so easy and you won’t be required to have electricity. Although we can many different things, I have chicken, beef, sausage, bacon and of course many veggies. It will last longer too with no worries about power.

      • Burt Year 2015

        This corn cornel on the cob is hurting me bad. It needs to be pulled before it’s tolate

        • greyprepper

          Lol how stoned are you??

      • Frijebai

        And if you have your own chickens you can always have fresh eggs/meat.

    • Guest

      It’s not a fair assumption. Generally speaking, hyperinflation would skyrocket met the cost of goods. Deflation does not mean all prices will drop. If anything, massive deflation will drop the price of items not needed to survive, but everyone will rush to buy survival items, raising their prices. Also, depending on the severity of the crisis, you may not be able to get money out of the bank. Look at Greece earlier this month. The government shut the banks down to prevent a loss.

    • K

      How have you prepared if the banks are closed? Or if a good portion of your money,is gone from a bail-in? Also you seem to be preparing for a power up event. What if the power is not up? I am not trying to get on your case. I am hoping you will ask yourself these questions. The saying of not putting your eggs all in one basket may apply.

    • Burt Year 2015

      I need to get A corn curnel pulled soon. It is hurting.

    • Goldfinger

      Hope your cash is in the mattress bank.

      • Billy Rey Valentine

        Don’t you mean Bank Of Sealy ?
        The Bank that helps you sleep better.

  • Alwaystomorrow

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

    Published 6/25/2015
    163 days until 12/31/2015.

    For fun, lets do a count down every day until the end of 2015 and see just what happens.

    • Burt Year 2015

      All of you have A very merry BURT Christmas this year.

    • Will Rogers

      I see lots of ‘red alerts’ too. However I am on board with this one. I’ll concede I was wrong if the market doesn’t have a ‘fire sale’ by the end of this year. Remind me.

  • FortuneSeek3rz

    The U.S. survived a depression that was sandwiched between two world wars. A stock market correction of 20-40 percent will be cake.

    • Burt Year 2015

      Marc Dinger’s nose is starting to bend downwards That means A big crash is coming fast.

      • FortuneSeek3rz

        Good, best to buy as low as possible.

  • Stop Republican Obstruction

    Yellen will not allow the U.S economy to collapse. There are just too many safeguards in place. Low commodity prices are good for the economy. For example, due to low gas prices American families are saving hundreds of dollars each year.

    • GetReal4U2

      don’t be too surprised when interest rates rise in September…

      • FortuneSeek3rz

        It’s way past time savers were rewarded instead of robbed. Raise the rates and raise them through the roof.

        • kfilly

          Then the U.S. will default on its debt.

        • greyprepper

          Wait, you mean responsible people will benefit from higher interest rates???
          They’re not gonna raise them. Guaranteed.

      • Frijebai

        Don’t be too surprised when debt interest rates rise in October.

    • tas

      Agee. If stock market crashes 40%?
      Big deal.

    • jhowell882

      so how much interest are banks charging for credit? how much are they paying you on your savings?

      18-20 percent? savings? if your lucky maybe a half of a percent?

      the corruption is already in place

    • kfilly

      You do realize democrats are the same as republicans, and all of the issues brought up are just to divide the people while the government grows more powerful. Both parties are owned by the same corporate interests. Democrats have always been the party of slavery. What was that senators name again that was a member of the KKK? He served until the 1990s. Oh, his name was Byrd.

      You also don’t have a clue about economics. This is simple supply and demand. The prices are falling because demand is non-existent, but hey, it’s good for Americans that prices are low. Maybe, most Americans aren’t buying stuff because they are up to their eyeballs in debt, they have low wage jobs (thanks to fascist law Obamacare), or they have been unemployed for a very long time (now not officially unemployed according to government data).

    • Mike Smithy

      The average American family is making approximately 4% less. To make matters worse, health care premiums are going way up for most Americans. Although, WTI is selling at under $50 a barrel, I have not witnessed any savings at the gas pump.

      • jsmith

        My local gas station here in Tustin CA is charging $4.69 a gallon.

      • Frijebai

        Or more jobs to drive to.

    • greyprepper

      Is your boss hiring? I would LOVE a career as a government shill and I like your style!

      • Stop Republican Obstruction

        Based on your posts, I am sure you would make a fine addition to the staff. I love indirectly working for the wonderful and brilliant Barack Obama.

  • GetReal4U2

    Personally, I am trying very hard to make sure that nobody can accuse me
    of not sounding the alarm about the storm that is on the horizon…

    no one can ever say you didn’t try to warn us…sadly…most don’t believe it…or simply think it won’t impact them…

    • Nemnor

      But equally (or eve more) important is WHY the worsening economic situation (why the coming economic “storm”) the World over. What is the main root cause of the major socioeconomic issues facing the World?

      I posit that there is a main root cause and that that cause is – world-wide Capitalism itself – which has became decadent, due to reaching a stage of general over-production, and is now NOT able to generate long-term recovery by economic means alone.

      I also posit that the REAL (permanent) solution begins with dismantling Capitalism, and moving to a fundamentally new and sustainable economic system in which, goods and services are produced to meet the needs of society – as the primary end-purpose of production.

      • Matt M

        Yeah… someone else already thought of that idea first. karl marx.
        I worked out terribly for all the people who suffered under it for decades.

      • Genada

        The problem is debt and the refusal to write it off and acknowledge it as being unpayable.

        The issue is not a failure of capitalism, it’ a issue of failing to act within the rules of capitalism. In capitalism the investments that have been made would not have been made, they are a product of having banks that are too big to fail and of low rates set by central planers.

        Andrew Mellon was right, you need to liquidate bad investment. Doing so clears room for better investment and punishes those that make bad investment. Instead today, we have a system that fails to punish those that make bad investments and instead forces the pain onto all of society.

      • Peter

        Wrong…
        “Capitalism itself – which has became decadent, due to reaching a stage of general over- production” B.S. my car is 15 years old I, don’t own a house I rent, I don’t even have a cell phone. Over production is not the problem “its poverty”. In where the 1 percent owns 90 percent of the wealth.
        “new and sustainable economic system.” B.S again we tried all the other isms, socialism communism they don’t work. You cant blame capitalism when we no longer have it. The system today is one of corporate fascism.True capitalism died 100 years ago.

        • Frijebai

          What if we just got rid of money?

          • georgesilver

            Just get rid of the private central bankers ability to produce fiat currency from nothing and charge interest. Also get rid of fractional banking.

          • toadsticker

            That’s what the powers that be want. Then we will all just get credits on a card that they can take (tax) what they want. Everything will be centralized and recorded by our leaders. Who may not even be elected anymore in a short while, but appointed from within.

        • REAL Capitalism died in 1917 and to blame Capitalism now is like beating a dead horse. You want pure communist utopia go live in North Korea

      • Steve Hansen

        Real capitalism has no central banks that print money out of thin air! Real capitalism has no banks that are to big to fail (or to jail..)!

      • tom

        Wrong, Capitalism is the means of production is in the hands of the people.

      • Sam

        Wrong. This is NOT the fault of Capitalism. There is NO such thing as free market capitalism anywhere in the world today. Instead, what we have today is CRONY CAPITALISM or MONOPOLY capitalism where select insiders do secret backroom deals with their corrupt govt. counterparts in order to destroy their competition and fleece the sheeple public. There is a major difference here. It can be argued that the closet we ever got to a free market was in the US between about 1880 to 1910. It was a time when the avg. American got to KEEP the majority of what they produced without govt. intervening with taxes, fees, regulations, penalties, fines, taxes upon taxes, double taxation, highest corporate taxes in the world, taxes on your worldwide income etc. The objective is for them to DEMONIZE capitalism, in order to get you to go along with the NEXT paradigm change, which will be even MORE financial & political power concentrated into fewer & fewer hands. This is how the game is played.

    • Liz Madson

      I have forwarned family members, they don’t listen. They say this happens all the time , and even if they did listen where would be the best place to invest, when it all goes down we’re all going down.

    • CharlesH

      A lot of people – especially Americans – I find don’t have a clue what’s going on in the world. This is by design. They’re more in tune what is happening on Instagram, Facebook or Twitter. If it’s not there – then it mustn’t be happening. Unless you literally slap them in the face to get their attention – they choose not to know. You can only tell people so much and so often before it dawns on you they’re hopeless and therefore will be helpless.

      • standfreeman

        …Charles, You have summed up this terrible situation in just a few sentences.
        …”if it is not there”…”they choose not to know” = Normalcy Bias.

      • hellonurse

        I can’t wait to see the looks on their faces when the collapse happens!
        “What just happened!?” They exclaimed
        Me: Wow! Are you THAT ignorant (walks away cackling)!
        I know it’s mean but STILL!

        • hellonurse

          Oooooo! and especially when they can’t get their money off their credit cards! XD

  • oil and copper has collapsed

    oil and copper collapse signaling china in recession,7%growth,not even close.aluminum crashin signal auto production grinding to halt regardless of how long you extend payment.the papered over mess has hit a wall (hard)

    • John Pallyswine

      Even when the economy was going well, the powers who rule over us were suppressing gold and especially silver. silver is the cheapest asset on the planet to invest in.

  • Bill

    Michael, I agree with this article but I am still puzzled by the BDI. Just look at the one year graph.

    • Bill, sorry to ask – I’m not really used to some words – what do you mean by BDI? I assume it’s an index?

      • Jeff Bell

        bdi = Baltic Dry Shipping Index, a measure of forward shipping volume

      • Bill

        Baltic Dry Index can be found at various locations through Google. It is a measure of shipping activity and has risen sharply in the last couple of months from a very deep low.

        • Thanks Bill :-)
          I understand a little bit better why you are surprised by the situation. Logically that Index should be going down following the Commodities collapsing… maybe there is book or other manipulations behind the scene?
          After all they do it for many commodities like Gold and Silver…

          • Bill

            Hope others will add to this discussion, especially Michael.

  • jimmie

    the milk on current monetary system are almost dried up. time to slaughter the system & rise the new one then repeat. plus, huge turmoil in economic system is a nice opportunity to kick the centralization the world (nwo) plan to works, no?

    • Frijebai

      I think that works both ways.

  • jhowell882

    and ted Cruz wants to repeal dodd/frank and take the regulations off of wall street so they have no regulations to not be reckless.. welcome to the United fukked up States of America.. and yes micheal has been right all along.. pray people pray

    • kfilly

      Proof that both parties are one in the same.

    • Matt M

      Why do you need regulations? If you didn’t have artificially low interest rates no one would want to borrow money to try “investing” in half baked ideas.

    • Avner

      Dodd-Frank is the legislation that makes your bank account an unsecured deposit and allows the banks to bail you in. It also outlaws every efficent way of doing things damn near. And, it still allows investment houses to act like commercial banks. It needs to go.

  • sre

    RUN! SHE’S GONNA BLOW!

    • Burt Year 2015

      Marc Dinger’s nose is getting ready to blow off his face very soon. That means the crash has happend

  • Genada

    Low rates has caused a massive amount of investment that has now caused a massive amount of over supply. Demand never recovered to start with but there was so much free money around that it ended up being invested into many different commodities.

    What’s worse is that many of these players in the commodities are in debt, a lot of debt and they can not slow down on production due to needing to produce as much as possible in a attempt to make up loss of price in volume.

    In the end it’s going to speak back up after production shuts down but before that happens it’s going to bring a lot of pain to a lot of people.

    • Gay Veteran

      Low rates has caused a massive amount of MALinvestment that has now caused a massive amount of over supply.

  • Arizona

    I have read your blog for years and have always respected your insight and opinion. I am trying to understand an investment portfolio and its asset classes and am wondering if there is a site that explains this? For example, are U.S. Market, U.S. Large Value, etc. all stocks? Also, do you still believe gold and silver are the best way to retain the value of your savings Just trying to understand….

  • Ponziconomy

    The country is toast….the killing blow has not been felt…….

    Yet.

  • David Goodman

    I agree with you – we’re about to crash. The canary has been screaming his head off and is in the middle of a heart attack. My favorite commodities are my fruit and nut trees. When you can grow your own food, the fear diminishes… at least a little. Thanks for doing what you do.

    • Frijebai

      Awesome; Imagine if more people had fruit and nut trees.

      • georgesilver

        We don’t need any more ‘fruit and nuts’. Too many of them are running the financial system all ready :)

        • David Goodman

          There are useful fruits and nuts… and non-useful ones. Heh.

      • David Goodman

        I would like to see everyone plant at least one tree. A pear tree can easily produce a couple hundred lbs of fruit every year. It just makes sense – a cheap investment in the future.

        • QEternity

          I for one have always enjoyed a good pair, er, pear…

          Aw heck, you know what I mean.

      • SR 71

        California is full of fruits and nuts. Must be an Awesome place. That’s why I left years ago.

      • SunnyFlaSnotress

        We’d just have more Fruits and Nuts

    • elvisisdead

      I’ve been reading “the end is near” for my entire 35 years on this planet. Eventually the boy who cries wolf becomes the whiny man who cries wolf.

      • David Goodman

        Sometimes there’s actually a wolf.

        • elvisisdead

          That wolf is late. Very, very late. I just fell bad for the people who buried their life savings in ammo and canned water and freeze dried broccoli pre-Y2K. Jeez. If only they’d bought microsoft they’d be lying on a beach somewhere instead of prepping for(and lets face it secretly hoping for) the worse that probably won’t ever happen.

          • SmallerGovNow2

            What’s coming is not some Y2K event bro…

          • Kathryn MacGeraghty

            Microsoft was $58 in Jan 2000. Now it’s $46.

          • none

            Same with potato chips!
            You just keep getting less and less.

          • Bob Schmidt

            Is that split adjusted, it looks like there was a 2 for 1 split in 2003? (And in early ’99). Still not a great return considering it’s 15 years.

    • Silver Savior

      How much silver for a bag of nuts? lol

    • Patriot Alice

      I lived in southern Italy for a while, fruit trees of every kind, anything else was a waste of space.

    • Mur mur

      I”ll buy Fruit and nuts, look’s a good investment for the future, better than apple ..

  • Stop Republican Obstruction

    I enjoy being a government shill.

    • Avner

      Wow, the only honest comment from you ever.

      • Leebo Venable

        I wonder why he just said that? I’m surprised

    • alan

      Does it pay well?
      I could use a new job.

  • Phil from Germany

    I have long since come to the conclusion that most people just want to be left alone and get own with their routine lives. Remember the movie the day after ?, the scene where the ICBMs leave the silos and the woman keeps making the beds up ?, well thats exactly what most think in my opinion. Nothing to do with me, leave me in my world. Going to be hard for them.

  • tom

    Marc Faber has been saying stocks are going to drop since 1928.

  • Avner

    Michael, when this does all go down…. can you do an “I told you so” article and really just slam the trolls like you’d slam someone you caught lying in court when you worked as an attorney? They have it coming.

    • hellonurse

      I agree! Look at my previous comment: I WILL LAUGH AT THEM!

  • piccadillybabe

    Even though the stock market is at an all time high, ya gotta wonder if people who lost much of their retirement savings in the crash of 2008-2009 are in better financial shape now or just breaking even by staying in the market and riding the volatility out? Personally, I feel the crash was a bail in on the American taxpayer. What’s next is anybodys guess.

  • gdnctr

    I’m very well stocked-up on water, food, brass and lead; let it happen. We need a major reset.

    • autofixer

      Consider you may not like the results of a reset.

      • gdnctr

        I’d venture that you’re correct on that point. But being prepared for “societal interruptions” is prudent, especially in this hacking era.

    • elvisisdead

      You’d be better off spending that time and money with/on your family, making lifetime memories, seeing the world outside of your home town etc. “The End” has been coming as long as anyone can remember. Yet it never seems to happen.

      • gdnctr

        “The End” has been coming ever since “It Started”, hasn’t it? I’m not a “doomsday prepper”, but am well prepared for interruptions in societal functions, as everyone should be in this age of hacked computers.

        • elvisisdead

          Keep in mind that the wealthy, the powerful etc aren’t hoarding copper and bullets. And they know what is actually happening. The elites are living in a new gilded age. Will it collapse? Probably not. Why? Because the people who run the world are having a great time as it is. Why would they stop the party?

      • jaxon64

        idiotic statement–The end never comes? Tell that to Persia, the Ottomans, The Greeks, Babylon, the Roman citizens when they were warned the end was near as the Visigoths stormed the gates, Cathay as the Great Wall was supposed to guard the future nation china from Mongol hordes ( I could go on all day with the list)—the end ALWAYS comes.

    • Larry Berg

      We need a government rest. We need to unleash the capital markets from the 1% that own 90% of the market. Not socialist ideas of wealth redistribution. Just distribute 95% of the net profits to anybody who own part of a company. Little people like me, retired, would spend that money to buy more products. A commodities reset where you have to have a facility to hold the commodities that you buy. No more speculation to drive prices up artificially. A bankers reset where the treasury controls the money and not a bank owned by foreign banks. A Congress reset where they will live within their means (collected taxes). ETC…

  • df NJ

    Assuming the people in power have some control over economic collapse, it seems to me the last thing the central bankers want is chaos, mayhem, and violence all around the World. Yes, at some point people we will end up borrowing money to fix everything but there is a chance people will outlaw central banks on national constitutions all over the World. Besides, poverty kills 20 to 30 million people per year. Maybe the goal is to try to reduce the Earth’s population.

    • hellonurse

      The mindless zombies die off first!!

  • autofixer

    If you know the market is about to crash, make some dinero amigos.

  • Davester

    All we need is the straw that breaks the camels back…the one thing that we can’t see that nobody can predict. At this point it doesn’t have to much at all.

  • Liz Madson

    When you say I hope everyone is getting ready for the collapse. My question is how can anyone get ready,everything will be worth less. Every one will shut down.

    • elvisisdead

      I recall standing in my local gun store 20 years ago listening to prophesies of doom just like this one. The guy claimed we’d be burning our FRNs for kindling and trading in junk silver and gold coins and ammunition. All this BEFORE the Y2K joke. Two decades later..nothing. At some point the doomsayers start to look like kooks.

      • Robert original

        You do not seem to understand y2k. There were plenty of programs that could not make the leap and they failed. Yes, it was not the worldwide disaster that some predicted such as Gary North but there were some massive problems. Many companies did not publicize their problems. I know from personal experience. I am not sure I concur with Michael’s worst case scenarios but even a substantial impact less than a collapse could be a real disaster for many.

        • elvisisdead

          I understand that there was near-hysteria surrounding Y2K and nothing of any note followed. I’m sure a few companies failed to update software or something along that line but as I recall people were predicting nation wide blackouts, airplanes falling out of the sky, nukes being launched involuntarily…It was silliness. Like I said before, it’s very, very easy to sound smart by predicting the worst case scenario. The fact that scenario never happens is irrelevant. They just move their predictions ahead. It gets old. Time to stop listening to people like that.

          • jaxon64

            Again–you are making stuff up–unless “hysteria” constitutes .01% of the population. So .01% is “mass” hysteria? News media dug very hard to find Y2K alarmists and heavily pushed it on news programs and newspapers. They’ll interview 100 people and carefully edit blurbs of those who mention even a casual concern and give the final 30 secs to the one person who thinks that a computer glitch was the end of the world.
            You should be worried instead when the Rothschild owned Associated Press is delivering to all of the news agencies to report that “tell them everything is fine–things have never been better” ” Unemployment is down, stocks are at record highs and the dollar is surging in global currency strength!”

          • Larry Berg

            “tell them everything is fine–things have never been better”. Like right now? Need to wake up. Corporate America is downsizing their employees from full time to part-time. That will and does have a huge economic impact!

        • Real Deal

          Welcome in every home. Man will bow before him. He’ll wear a false crown of thorns (false savior). In a time when knowledge and travel will increase as never witnessed by man, (see Daniel), he’ll come forth and have all the answers. He’ll be WORLD renowned. He will DECEIVE the masses as never before seen in history of man… By the way , what was Satan’s great power? By the way, what was the color of the horse he shows up on in Revelations??? Is Microsoft beige close enough??? OPEN YOUR EYES PEOPLE…

          Oh, P.S. I almost forgot the head wound that he miraculously heals himself from… WHAT HAPPENED IN Y2K??? Please spread the word and ready your hearts and selves my friends… THE RETURN OF THE KING OF KINGS IS AT HAND!!!

      • jaxon64

        I was an adult in the workforce–not a 20 year old kid–and I saw NO hysteria for Y2K…nobody I knew was planning for societal collapse. The news mentioned it and even the government spoke of some issues and maybe some temporary issues with SSI etc–but if you’re trying to say there was a hysteria over Y2K or compare it to the global financial instability of this time–then go drink another glass of normalcy bias koolaid and save one round for yourself.

        • Larry Berg

          The panic of Y2K was a computer glitch that never really appeared. It was a fear that computers would stop working… I was part of that Y2K fixing the problem that was resolved with 6 lines of code that was inserted into 90% of the program that actually used a date to process information. I was still working on that project clear into 2001. It was a government induced panic. Y2K, 2008, were both trial runs for the next big one in 2015 with a climax in 2016….check your dates. About 7 years between the beginning and ending of each event. Yes actually 7, because it started in 2007 not 2008. 2008 was the climax to 2007. I hope it doesn’t happen, but you never know.

    • Frijebai

      Not everyone will shut down; The extreme poor already know how to survive without money.

      • Larry Berg

        No they don’t. The extreme poor are on welfare getting fed by the government. They know nothing about survival. They will panic and riot when the food stops. They don’t produce anything except more welfare recipients.

    • Larry Berg

      It is easy really. Just think what will happen in a total collapse. What will happen to the food supply? It will get slower and slower until there is no more food at the store. Hopefully your water will continue for a while. Are you renting? if so will your landlord let you stay when you can’t pay? You may have to move in with relatives or parents that have no mortgage. Food, water and shelter that is what you will need for the first six months after a TOTAL collapse. So what do you think will happen when there is no food? RIOTS, LOOTING etc. If you want an example, read about Greece and what has happened there. Food will be king. In 1849 one egg sold for 1 ounce of GOLD in California’s gold rush. In today’s value that is $1,100 an egg.

  • Stop Republican Obstruction

    It behooves me to inform the readers on this site that jobless claims are at a 41 1/2 year low. The labor market is strong.
    Our great leader’s vision is coming to fruition. I am so proud of you Obama. You richly deserve the noble peace prize.

    • HeyAHuman

      Lol.

  • Stop Republican Obstruction

    I love believing what the mainstream media tells me.

  • Ben Swinson

    Economic collapse is an old story throughout history. Global economic collapse will be a new chapter in that story.

  • elvisisdead

    The top 10% are doing great. The recession, or what little they felt of it ended in 2010. My brother in law is an exec at a multi national. He just accepted a golden parachute severance package, sold his home for 200K more than what he paid for it 5 years ago, and packed the family off for one of the richest communities in America for a fresh start.
    Do you think he hoards copper pennies or .22 ammo? Do you think his buddies in the board rooms get together on the weekends to swill beer and listen to Alex Jones? Guess who knows more about how things work? Him or some hillbilly deluxe conspiracy addled bumpkin on the internet?
    YOUR economy may collapse. The big picture, the big money picture, the only picture that counts, is doing great.

  • PRAY

  • df NJ

    Here’s a very good video with excellent arguments on why liberal government policies do not work.

    google “Illuminati 2015 – How To Kill New World Order And Save The World”

  • CharlesH

    Thanks Michael for another awesome article – you’re always informative. Keep sounding like a broken record please – I may not like the song but more people need to hear it.
    Everyone is familiar with a hurricane. You have 2 walls with an eye in the center where the air is relatively calm. In 2008-09 we went through one outer wall and you know the damage that it caused. Here we are in the center (the eye) and while things appear to be much calmer, the air is stirring and feels quite threatening.
    I believe in a relative short period of time we’ll be entering the next outer wall which by the way rotates in the opposite direction and is always much worse then the one we entered previously. Holding on to our hats isn’t going to do much good I’m afraid – this next hit is going to be hugely damaging creating untold devastation and chaos.

  • Silver Savior

    Yeah this is getting very bad. I have been on a silver binge for a few years now. Have a respectful stack but I am in panic mode buying up whatever I can before its too late and the price surges. This is going to be the mother of big Birtha of crashes. The banks have became even more reckless since 2008.

    • Judie

      Where can i buy silver please

      • Silver Savior

        I get mine from local pawn shops but the best deal is online from companies like JM Bullion, Ampex etc. Silver coins can be found on ebay and Amazon but there are a lot of fake coins out there. I find these auction sites good for coins lower than half dollars.
        These companies typically also sell on ebay so if you find a buy it now and JM bullion, Ampex etc is the seller then you should feel confident in buying any silver coin from ebay. They have also been known to offer a small discount through ebay sales compared to their own site. There are lots more silver dealers too. Just takes a bit of research.

  • Silver Savior

    I have been going all out on copper too as an investment metal. Copper pennies. I love em.

  • alan

    I am sure they are watching it closely. Probably let a little steam out now and have the printers standing by. Remember these are professional criminals, they don’t want the system to die, so they can come back later and rob us again.

  • Dang

    Yes this time it will be alittle more intense. The gold miners will get sucked into it as the comex defaults low prices as it runs out of product to sell. The answer the gov will come in an lock down prices an take over the mines if they go bankrupted. But the mega banks are not tapped out in cash reserves. There still holding large amounts of QE money that was never spent on the economy. 4 trillion was infected by the fed an placed into the mega banks. And by just doing that through fractional reserve banking they can loan out 10x that amount and its all legal, That is 40trillion dollars. They could of paid off the national debt twice and still have change left over for a tip. They say they cant get the economy moving again they are not even trying. The gov gets to borrow at 1 to 2 % what about the american people

  • Classic DC

    I have been living in this wonderful society for 54 years…so…let’s knock off 18 years for childhood/teens and that gave me about 36 years to watch the amazing decline. If anyone is still living in the serious delusion that we have a Democracy please wake up! This Plutocratic/Oligarchy has been rolling strong since at least Reagan. Hell, the billionaire corporate swine don’t even try to hide the fact that both sides of the “Aisle” (with a few exceptions) are bought and paid for deregulation lapdogs. The wide open campaign bribery/funding is flaunted with amazing arrogance. We are headed over the cliff (again) in a derivative fueled sports car. This next crash will make ’08 feel like a tiny speed bump. Buckle up, this one is gonna be epic!

  • Mondobeyondo

    People in politics and the mainstream media are still gonna try to tell you that everything’s fine. History is repeating itself… and the sheeple are doing their best ostrich impression. Please – get your heads out of the sand. The world as you know it now – your comfort laden, refrigerator-full, Friday night at the bar, smartphone addicted world – is in grave danger, and the vast majority are clueless.

    “I’m lonely… I’m starving… I’m bleeding to death…everything’s FINE!”
    – “Mother Mother”, Tracy Bonham

  • Real Deal

    I need a DATE TREE!!! LOL!

    • Real Deal

      Wait a minute… They’re screwing ALL of us!!!

  • Lex loathar

    If this crash is the thing that sticks a stake into the fascist US gubbermint “Empire”‘s heart, I am all for it. Enough of these stupid wars for the war machines profit.

  • bumblebee8

    Now I am no economics person in the least. However, is there a difference between falling currencies like Celente mentioned above compared with a stable dollar, or is the difference in currencies because the dollar itself has gotten stronger or risen? It seems to me that regardless of the percent difference growing between currencies, it is two different issues if say the Canada dollar has not really fallen when what happened is the US dollar has actually just risen. If the US dollar had remain static and the Canadian dollar fell that would be a different indicator if things happening. Or am I so lost I have no idea what I am talking about?

  • DSK

    Assuming that your analysis pans out, assuming that the correlation between the 2007-2008 recession/depression and the current markets will play out again, i.e., lay one chart on the other and they nearly match, then let me ask, when would be a good time to buy more Precious Metals. Would one buy now, at the current (and somewhat historic lows) or would you wait until later in the cycle to enter. Please do not respond by saying, on the one hand and on the other, or if we breach “x” then we may go to “y.” Just using the 2007-08 charts as a guide, where in the Dow/S&P cycle would be the ideal entry point for gold and silver?

  • Brent Richardson

    yup the ebt crowd is in for a big surprise.

  • How Not To Play The Game

    ……grab the silver while it’s cheap. (If all of your other ducks are in a row.) It got dang near $40/oz shortly after the last “taking of the cream” by the handful that could. Ol’ Paulson and Bush got a whole bunch of their buddies phat and philthy the last time around.

  • Wayne Walton

    “Usury is the root of all evil”. Usury is forbidden by Moses, Jesus, Muhammad & Buddha. But, our international system is built upon the usury theft racket. Solution? usuryFree money issuance and lending a debt forgiveness Jubilee and land repatriation. Jesus flipped the money lenders tables and declared Jubilee in Luke 4:19.

  • cassie1655

    Michael, you put out the warnings, which is a good thing, but you end your article with telling us to get prepared. Without having to buy a book or DVD, just exactly how does one ‘get prepared’ for what is obviously coming? Tell us what to do!

  • DB200

    Good article Michael. You support your statements with links to other websites, as always. You say “Amazingly, there are still a lot of “experts” out there that insist that everything is going to be okay somehow.” but I don’t see links connected to these experts.

    And I have been looking for “positive, feel good, the economy is fine” quotes but actually they are very hard to find. If they are there in the MSM, they don’t have any effect at all. I don’t know any people who think the economy is heading in the right direction, all my neighbours and friends have turned skeptical. They are either negative or neutral.

  • Barbara Roy

    Amen to that!

  • axinosp PAN

    watch silver rally in a few days !!

  • Dennis Chrisinger

    think monoply get tired of winning throw the games on the floor wait a while then start a anew game like socialism communism Islamismsatanism
    what ever works

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