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Day Of Reckoning: The Collapse Of The Too Big To Fail Banks In Europe Is Here

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Europe Lightning - Public DomainThere is so much chaos going on that I don’t even know where to start.  For a very long time I have been warning my readers that a major banking collapse was coming to Europe, and now it is finally unfolding.  Let’s start with Deutsche Bank.  The stock of the most important bank in the “strongest economy in Europe” plunged another 8 percent on Monday, and it is now hovering just above the all-time record low that was set during the last financial crisis.  Overall, the stock price is now down a staggering 36 percent since 2016 began, and Deutsche Bank credit default swaps are going parabolic.  Of course my readers were alerted to major problems at Deutsche Bank all the way back in September, and now the endgame is playing out.  In addition to Deutsche Bank, the list of other “too big to fail” banks in Europe that appear to be in very serious trouble includes Commerzbank, Credit Suisse, HSBC and BNP Paribas.  Just about every major bank in Italy could fall on that list as well, and Greek bank stocks lost close to a quarter of their value on Monday alone.  Financial Armageddon has come to Europe, and the entire planet is going to feel the pain.

The collapse of the banks in Europe is dragging down stock prices all over the continent.  At this point, more than one-fifth of all stock market wealth in Europe has already been wiped out since the middle of last year.  That means that we only have four-fifths left.  The following comes from USA Today

The MSCI Europe index is now down 20.5% from its highest point over the past 12 months, says S&P Global Market Intelligence, placing it in the 20% decline that unofficially defines a bear market.

Europe’s stock implosion makes the U.S.’ sell-off look like child’s play. The U.S.-centric Standard & Poor’s 500 Monday fell another 1.4% – but it’s only down 13% from its high. Some individual European markets are getting hit even harder. The Milan MIB 30, Madrid Ibex 35 and MSCI United Kingdom indexes are off 29%, 23% and 20% from their 52-week highs, respectively as investors fear the worse could be headed for the Old World.

These declines are being primarily driven by the banks.  According to MarketWatch, European banking stocks have fallen for six weeks in a row, and this is the longest streak that we have seen since the heart of the last financial crisis…

The region’s banking gauge, the Stoxx Europe 600 Banks Index FX7, -5.59% has logged six straight weeks of declines, its longest weekly losing stretch since 2008, when banks booked 10 weeks of losses, beginning in May, according to FactSet data.

The current environment for European banks is very, very bad. Over a full business cycle, I think it’s very questionable whether banks on average are able to cover their cost of equity. And as a result that makes it an unattractive investment for long-term investors,” warned Peter Garnry, head of equity strategy at Saxo Bank.

Overall, Europe’s banking stocks are down 23 percent year to date and 39 percent since the peak of the market in the middle of last year.

The financial crisis that began during the second half of 2015 is picking up speed over in Europe, and it isn’t just Deutsche Bank that could implode at any moment.  Credit Suisse is the most important bank in Switzerland, and they announced a fourth quarter loss of 5.8 billion dollars.  The stock price has fallen 34 percent year to date, and many are now raising questions about the continued viability of the bank.

Similar scenes are being repeated all over the continent.  On Monday we learned that Russia had just shut down two more major banks, and the collapse of Greek banks has pushed Greek stock prices to a 25 year low

Greek stocks tumbled on Monday to close nearly eight percent lower, with bank shares losing almost a quarter of their market value amid concerns over the future of government reforms.

The general index on the Athens stock exchange closed down 7.9 percent at 464.23 points — a 25-year-low — while banks suffered a 24.3-percent average drop.

This is what a financial crisis looks like.

Fortunately things are not this bad here in the U.S. quite yet, but we are on the exact same path that they are.

One of the big things that is fueling the banking crisis in Europe is the fact that the too big to fail banks over there have more than 100 billion dollars of exposure to energy sector loans.  This makes European banks even more sensitive to the price of oil than U.S. banks.  The following comes from CNBC

The four U.S. banks with the highest dollar amount of exposure to energy loans have a capital position 60 percent greater than European banks Deutsche Bank, UBS, Credit Suisse and HSBC, according to CLSA research using a measure called tangible common equity to tangible assets ratio. Or, as Mayo put it, “U.S. banks have more quality capital.”

Analysts at JPMorgan saw the energy loan crisis coming for Europe, and highlighted in early January where investors might get hit.

“[Standard Chartered] and [Deutsche Bank] would be the most sensitive banks to higher default rates in oil and gas,” the analysts wrote in their January report.

There is Deutsche Bank again.

It is funny how they keep coming up.

In the U.S., the collapse of the price of oil is pushing energy company after energy company into bankruptcy.  This has happened 42 times in North America since the beginning of last year so far, and rumors that Chesapeake Energy is heading that direction caused their stock price to plummet a staggering 33 percent on Monday

Energy stocks continue to tank, with Transocean (RIG) dropping 7% and Baker Hughes (BHI) down nearly 5%. But those losses pale in comparison with Chesapeake Energy (CHK), the energy giant that plummeted as much as 51% amid bankruptcy fears. Chesapeake denied it’s currently planning to file for bankruptcy, but its stock still closed down 33% on the day.

And let’s not forget about the ongoing bursting of the tech bubble that I wrote about yesterday.

On Monday the carnage continued, and this pushed the Nasdaq down to its lowest level in almost 18 months

Technology shares with lofty valuations, including those of midcap data analytics company Tableau Software Inc and Internet giant Facebook Inc, extended their losses on Monday following a gutting selloff in the previous session.

Shares of cloud services companies such as Splunk Inc and Salesforce.com Inc had also declined sharply on Friday. They fell again on Monday, dragging down the Nasdaq Composite index 2.4 percent to its lowest in nearly 1-1/2 years.

Those that read my articles regularly know that I have been warning this would happen.

All over the world we are witnessing a financial implosion.  As I write this article, the Japanese market has only been open less than an hour and it is already down 747 points.

The next great financial crisis is already here, and right now we are only in the early chapters.

Ultimately what we are facing is going to be far worse than the financial crisis of 2008/2009, and as a result of this great shaking the entire world is going to fundamentally change.

  • http://www.chartword.com/ ChartWord

    technical price target for Deutsche Bank = 0

    • none

      President Obama’s golf score has also hit a new low.

      • Bob332

        So has our country, thanks to the 12 th Iman -In-Chief.

    • J.L.W

      Deutsche bank (NYSE:DB) is facing major technical resistance 15 points lower.

      • http://www.chartword.com/ ChartWord

        lower technical levels are called “support”

  • Enrique R. DéZuardí

    Blah blah blaha blah blahBlah blah blaha blah blahBlah blah blaha blah blahBlah blah blaha blah blahBlah blah blaha blah blah

    • Infidel51

      Thoughtful analysis.

      • Gay Veteran

        sounds like your usual “analysis”

        • Malcolm Reynolds

          You shouldn’t throw stones.

          • Gay Veteran

            still waiting on you to show me that lie in my comments on another article………………..sound of crickets

          • Malcolm Reynolds

            Me thinks you ignored it so you wouldn’t have to face it, because I most certainly told you.

            …Or did you actually get back to me and cite where I called you a democrat in the comment. Didn’t think so. Because it’s not there. Idiot.

            Methinks you’ll now go just as incoherent as you did the last time I actually stopped to explain it to the special needs dope on the board, or you’ll just ignore this altogether.

            So yea, throwing stones there you pole smoking, syphilis infested, buffoon.

          • Gay Veteran

            well junior, you haven’t shown where I said that you called me a democrat!

            but you said I used a democrat lie, but you STILL haven’t said what that lie was.

            wrap your tertiary syphilis infected brain around that, trailer trash

          • Malcolm Reynolds

            Incoherence it is. The link provided quoted you accusing me of doing so, imbecile.

            “your tertiary syphilis”
            good little homo parrot.

          • Gay Veteran

            what a waste of oxygen, you spew a lot of BS but you can’t back it up.

            in other words, as usual, YOU HAVE NOTHING!
            now go back to humping your dog

          • Malcolm Reynolds

            So more incoherence.

            YOU HAVE NOTHING!
            Except for the facts and proof, sure.

            back to humping your dog
            I thought bestiality was a thing with your kind.

          • Gay Veteran

            no, bestiality is the first thing that pops into the right wing “mind”

            “…you pole smoking, syphilis infested, buffoon….”

            awwwww, what’s wrong little Malcolm, you frustrated? your mail order bride from Ukraine not smoking your little pole?

          • Malcolm Reynolds

            no, bestiality is the first thing that pops into the right wing “mind”
            Yet, once again, YOU’RE the one that brought it up.

            awwwww, what’s wrong little Malcolm, you frustrated
            Not at all. Why would I be? You blustered and foamed at the mouth about crickets, but I clearly proved you’re a liar and incapable of even admitting it. LIAR.
            I don’t even know how many times you’ve done this, but I think we’re done here unless you’d like to take the opportunity to apologize for your poisonous lies.

          • Gay Veteran

            bestiality? you ever read other people’s comments? especially on endoftheamericandream?

            the only thing you proved is your own false witness

            and poisonous lies? look into the mirror, junior

          • Malcolm Reynolds

            bestiality? you ever read other people’s comments?

            Please distract from the fact we’re talking about YOU bringing it up. Oh oh, buffoon might try saying I called him a democrat again.

            the only thing you proved is your own false witness

            outright lie. Proof is in the comment and there’s nothing you change about that fact by clicking your little ruby pumps.

            and foamed at the mouth? what was it YOU said? oh yeah:
            I’m sorry, which part is wrong? Be specific. I know for a fact two are absolutely correct (You know, your own name and this conversation are proof) and the third is likely (again, going back to your name). So again, be specific.

            I think we’re done here. You apparently love getting abused, which is the only I can think you’re still trying to continue this conversation. Does your boyfriend dominate and beat you? We all know you’re the b!tch.

          • Gay Veteran

            now why did little Malcolm originally get his panties in a wad?

            little Malcolm claims that I said that he called me a democrat.

            what was my post?

            “and sorry, I’m not a democrat OR a republican since
            democrats = republicans”

            and from that little Malcolm thinks that I said he called me a democrat!

            btw, I’m not a socialist.

            OH NO, OH NO, now little Malcolm will think that I said he called me a socialist!

          • awb22

            you’re the statist, you don’t get to have it both ways, except in the privacy of your own home, or someone else’s as the case may be.

          • awb22

            hehehe, actually, he’s just smarter than you are, and you’re projecting, AGAIN.

            BWAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHA

          • Gay Veteran

            “…The link provided quoted you accusing me of doing so, imbecile….”

            couldn’t use your link, but I did find what I wrote to you:
            “and sorry, I’m not a democrat OR a republican since
            democrats = republicans”

            and from that little Malcolm got his panties in a wad thinking that I said he called me a democrat!

            btw, I’m not a socialist.

            OH NO, OH NO, now little Malcolm will think that I said he called me a socialist!!!

          • Malcolm Reynolds

            Congrats, you were able to find the post denying the accusation that was never made but you’re claiming you couldn’t find the post in the link that was… you know … wait for it … I just know that retort is right there somewhere… It’ll come to me……RIGHT ABOVE THAT?
            So now it’s more lies and incoherence (like I predicted) to cover the original lie and then trying to play my game of predicting the stupid shyte that’ll come outta your mouth next.
            Lmao! Ok, I just wanna ask, do you think people but your bull crap?

          • Gay Veteran

            hey Einstein, POST IT. show everybody the “point” you’re trying to make.
            your BS just goes on and on and on………………

          • Malcolm Reynolds

            hey Einstein, POST IT.

            Yea, because after posting it however many times already, you’ll magically drop the denials, incoherence and lies this time. ‘That’ is still not going to equal ‘you’.

            The imbecile will now claim that I cannot back up what’s been backed up several times already.

            Dont you have some man meat to swallow somewhere? Yea, I think we’re done.

          • Gay Veteran

            yawn, more from BS Malcolm.

            nasty? look into a mirror, dog fu *ker. how’s that Ukrainian mail order bride working out

          • awb22

            at least he’s not asking the state to sanction it, sodomite.

          • awb22

            talking about yourself in the third person, again idiot?

          • Gay Veteran

            my post to you: “and sorry, I’m not a democrat OR a republican since
            democrats = republicans”

            and from that little Malcolm got his panties in a wad thinking that I said he called me a democrat!

            btw, I’m not a socialist.

            OH NO, OH NO, now little Malcolm will think that I said he called me a socialist!

  • Nathan Rothschild

    Sounds like a good buying opportunity in European banks

    • Orac4Prez

      I’d wait until the vultures have fed on the carcasses of some the troubled banks…

  • Alwaystomorrow

    Balance and diversity are imperative to keep a healthy and positive outlook on life.

    For entertainment and and a different view I read this blog.

    For balance and diversity I spend the weekend with my 14 year old grandson. What a pleasure.

    Do not forget to do some happy and positive things in your life so you do not become obsessed with the “economic collapse.”

    • http://karmaeconomics.blogspot.com/ lavista4u

      Agree..Just being happy and loving yourselfs can change the world itself

      • pullurheadout

        oh teddy bears & sugar plums wont save you when your living in a cardboard box luv. Just dont go knocking on some preppers door when youre starving. You wont be welcome.

        • Todd

          If everyone around you is a destitute and you are one of the only people around living proudly and smugly in your prepped dwelling… let me assure you, you won’t be living in that dwelling for long.

          • HomoRationalensis

            Good luck approaching my gated community in the wilderness. If by
            some miracle you do make it our way, we’re prepared to take your head
            clean off your body. That’s assuming you can even navigate your way out
            your burning city. You then need to figure out your way to Alaska. Prob end up lifeless within 48hrs given you
            “citydwellers” have survival skills that rival kim kardashian.

          • Todd

            Barking up the wrong tree. I’m stating a general truth not a personal one. It’s the “our” and “we’re” in your description that I hope extends beyond just your immediate family plus your choice of locale that would be a wiser choice then being the only moron in a subdivision who has anything, while his neighbors starve all around him. Not a good plan. PS… never be overconfident in your plan… your statement is a proud one, but as anyone knows who’s ever been in a serious combat unit during wartime, no man’s an island and everyone has a weak spot. Best of luck if it ever comes to it.

          • HomoRationalensis

            Right but your statement almost came off as a threat and you’re probably right which is self reinforcing in a way, in that in the event of a collapse, which we all know is happening in slow mo, let alone coming down the line, city dwellers will end up turning on each other like rats in a cage fighting for the last scraps, stealing off others out of panic and desperation. Those in the wilderness have the wilderness as a gigantic ‘off-grid’ buffer zone with added strategic depth. In case ‘wanderers’ do enter our territorial zones we can then assess whether they’re potentially a threat or not.

            The last place you want to be is anywhere near a major lower 48. What with societal and geopolitical collapse, if starvation, disease, panic, insanity, nuclear armageddon doesn’t wipe you out then you’re probably a smart prepper and have already set up camp out the fiat debt/carbon game.

            Thanks! Good luck to you too, prepare to bug out whilst you can.

          • pulltheweeds

            anyone remember katrina ?

          • HomoRationalensis

            Yup the only thing that disintegrated as fast as the flood stoppers supposed to protect the city was local, state, fed gov’t before, during, after the wipe out. Now imagine that magnified across all states, then globally…yup, gulp.

            Good luck leaving your life in the hands of those buffoons. Trust me I’ve seen their inner workings and they couldn’t organise a bunch of hookers after winnin the jackpot.

          • Truegrit

            What are you going to do against artillery?

          • HomoRationalensis

            What in Alaska? I was former SpecOps, so know a thing or 3 when it
            comes to making nations very dead. Let me know how it goes shleppin those tanks across terrain that would make your mother cry. Besides, the way things are panning out, they’ll all be positioned within the lower 48, Europe, South East Asia, the Middle East and the Arctic. You wouldn’t believe what the wilderness does when you know how to harness it re: odds of survival. Food, check. Water, check. Energy, check. Survival skills, check. Ability to build the heck out of local nature & science the brown stuff out of things, check.

            Yup, let me know how the whole fire mission thing goes assuming we even have communications.

          • Malcolm Reynolds

            I was former SpecOps, so know a thing or 3 when it comes to making nations very dead.

            That’s interesting. I was going to comment at how naïve, at best, your little combat scenario was. Single handed defender of the neighborhood wrapped in a wrought iron fence, with beer in hand. And on top of that, you think you’re insulated in Alaska somehow with risk of a global crisis!? Good grief.

          • HomoRationalensis

            I’m pleased for you kid. Let’s see if you bankrupted, collapsing Left-Wing Neoliberal phaggots make it out of your local town.

            Doubt it.

          • Malcolm Reynolds

            Yep, stolen valor pu$$y. You apparently never read my comments. Yeaa, not a left winger, dolt.

          • HomoRationalensis

            Yup in deep though shall dive, mine is moist on ice. Good luck

          • Priszilla

            When China invaded Vietnam in the 70s they send 10000s across the border to clear the minefields. If they sent 10000 per day, it would take 350 years to depopulate China provided they don’t make new children.

          • MagicalQCreations

            Why is your inability to be prepared the problem of those who had the foresight to be prepared?

      • NowAlive

        Exactly the problem. God did not make us to “be happy” and he especially did make us to love ourselves. He gave of Himself that we should also sacrifice of ourselves, including our happiness, in love.

    • Mike

      Hmmm, how pleasant…

    • Bob Johansen

      Are you educating your grandson or are you letting him get indoctrinated like I was? It’s funny,In public school I was never taught that Woodrow Wilson chastised himself and said the country was doomed after he helped create the FED. I was also never taught that JFK tried to make a Federal Silver backed Currency and spoke out against the shadow government, and then he got his skull turned into a Jigsaw puzzle in broad daylight.
      No, I just learned how “advanced” the perverted ancient Greeks were. I remember seeing nude statues in my txt book and thinking, “that’s perverted,” but my teacher said it was “high art.” It was all anti-Christ propaganda, and so are you and your BS posts.

      • df NJ

        If Christ is such a great religion then how come the people devoted to Christ are all overweight, unhappy, and mostly poor?

        • Mike Smithy

          You are confusing Catholics with Christians. They are not the same. Yes I would agree that Catholics tend to be overweight, poor and sad.

          • Screamin_Ruffed_Grouse

            You and I have met some very different Catholics, and other brands of Christians, apparently.

          • beyond partisan

            I know some Catholics who are very well-to-do, live in a large McMansion, skinny as all get-out, with smart kids preparing to go to an Ivy League school. If anything, their issue is that they are too worldly and caught up in the matrix, but they are far from overweight, poor or sad.

        • NowAlive

          Overweight: interestingly, this is in high-poverty areas created by liberal programs (welfare that encourages eating terrible food with no exercise); “unhappy”: What makes you think that? Even it were true, I’d say, “Blessed are the poor in spirit for they will see God”. Poor: Again, this could be from welfare programs that encourage bad behavior while robbing the workers but I’d add to that by saying that poor people (In spirit and wealth) tend to be more humble. God loves the humble but hates the proud. People who make wealth, happiness, and exercise their god have already received their reward and sadly, it comes from men. This IS poverty to those of us who know Christ. Also, if Christ is a religion, it’s not Christianity. Knowing Jesus means having a relationship. There is a difference between the two that is an eternity apart. God bless.

          • sistersoldier

            If you are going to go to war with evil have your sword at the ready…. If you are a believer in Jesus Christ you are a Christian. To deny His name is an affront to Christ and a pleasurable service to the Anti-Christ spirit. You are denying the very blood that bought your salvation for it was purchased with a great and non-repayable price!!! Because the debt is the greatest love.

            “And for an entire
            year they met with the church and taught considerable numbers; and the
            disciples were first called Christians in Antioch.” (Acts 11:26)

        • sistersoldier

          That is an erroneous statement. Jesus Christ said if you are not for me you are against me and if you are not gathering to me you are scattering away from me. He which converts the sinner from the error of his
          ways shall save a soul from death, and shall hide a multitude of sins.

          What you are doing is spreading lies a sin that God hates because it is of your father the Devil he was a liar and a murderer from the beginning. An intelligent person would understand that not “all Christians are overweight, unhappy and mostly poor.” It is so sad to read your private thoughts. Solomon the wisest person to ever live said that only a fool speaks their whole mind and are considered wise if they speak not! You should know that life and death are in the power of the tongue. Don’t bury yourself prematurely because you kindled the anger of God due to your direct contempt of the cross. He died for your sins too!!!!

        • Bob Johansen

          Your are referring to American “Christians” first of all and it’s because they are not real Christians. They are bible worshipers and they don’t even follow their own idol: the bible. In their idol it says “god does not dwell in temples built by the hands of men” but they call their “church” building the house of god. If you can’t rip up a bible you don’t understand or follow Christ at all.

        • beyond partisan

          Wow, listen to you, you “fat-shamer” and hater of the poor (pro 1% are we?)! BTW I am a Christian and I am in good shape (especially compared to most Americans) and not some stereotypical “white trash” living in a trailer.

        • Mark

          Ya, and many people from NJ are loud mouthed, rude,and think their poop don’t stink. I know some well educated, Christian, physically fit people that are very happy and do not have much money. What does that have to do with religion???? Nothing. I know some well to do fat unhappy people too. No correlation with God or Christ.

        • Steeve Girard

          Now that is a good question.

        • Stasia

          I don’t know what church you’ve been to lately. I attend a conservative Christian church and most people there are successful, happy, and relatively thin.

        • https://www.youtube.com/user/bctruck?feature=mhee Bctruck

          Uhhhhhhhh,,,,, I can hear you!!!!!!

          • https://www.youtube.com/user/bctruck?feature=mhee Bctruck

            I not unhappy though, just an overweight poor Christian.

      • Gay Veteran

        “…I remember seeing nude statues in my txt book and thinking, “that’s perverted,”….”

        what a sad creature you are

        • Bob Johansen

          Why?

          • John Cook

            Because you only saw what you had been programmed to see – not reality.

        • Malcolm Reynolds

          Are the raunch fest homosexual parades and such around San Fran, well documented by blogger Zombie for the volume of sexual acts performed anywhere and everywhere, and the general public nudity, perverted?

          If so, are you a sad creature for thinking so?
          If not, why not and when does it become perversion?

          • Gay Veteran

            oh let me guess, you’re offended by the Venus de Milo, PHILISTINE

          • Malcolm Reynolds

            Nope.

            Not gonna answer that perfectly legitimate question, are ya pervert?

          • awb22

            you beat me to it, completely avoided the question. there’s a reprobate fer ya.

      • Elsajroos1

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    • HomoRationalensis

      Yep thanks for that. Let us know how the whole playing with kids thing goes.

    • Richard O. Mann

      Paul did remind us to find positive things to think about. If you spend all your time thinking about what is coming on this earth, you will totally freak out. You have to turn it off from time to time, and find something uplifting.

    • Rorschach

      I am surprised you must be still desperate to be posting under those Proxies. Why don’t you just admit you failed troll and go jump off the tallest building?

  • K

    Michael, notice as things get worse. How much faster the trolls arrive? Seems their number is up as well. How desperate some are to block the truth. Well all the regulars here knew this was coming. I truly am starting to feel it may be time to step back. And just leave the rest, in the Lords’ hands.

    • ONE WHO KNOWS

      I enjoy reading everyone’s comments. Although I may not agree with everything I read, nonetheless I AM clueless when it comes to the economy. If you have knowledge and information that could be of value please continue to post comments. I’ve learned a great deal reading the articles as well as the comments posted. If it weren’t for this online content I would be in the dark about the economy.

      • df NJ

        What is important to the success of our economy is people continuing to copulate, have babies, and buy stuff. Demand for products and services is very important to keeping the economy going. I will really start to worry about the economy when my grocery store has nothing on the shelves and I’m not competing with thousands of people trying to get to work everyday. Multi-billionaires losing a few billion every now and then means nothing to me. If things really get bad Keynesian economic policies will return. The people in power are NOT going to give it up.

        • Screamin_Ruffed_Grouse

          Return? When did they leave?

      • Gay Veteran

        here’s some websites where you can educate yourself:
        zerohedge
        paulcraigroberts
        oftwominds (Charles Hugh Smith)
        marketticker (Karl Denninger)

    • Pamela

      K,
      I resemble that remark. I take a great deal of pride in my lack of objectivity, inability to use critical thinking skills, and total devotion to Hillary.
      Hillary 2016!

      • afchief

        Hillary for prison 2016!!!!

        • df NJ

          She’s not going to get the nomination.

      • elmcqueen3

        OMG…Is this satire?

    • df NJ

      And right back at you. How come the non-trolls here just ignore any data that doesn’t support their dire outlook like the percentage of people actually employed. Or the household debt has been going down consistently. I thought people actually starting to save would be a good thing. Or gasoline below $1.50 per gallon.

      • Gay Veteran

        “…Or gasoline below $1.50 per gallon.”

        and they are using the money they save to pay their higher rent, higher Obamacare, etc.

      • Malcolm Reynolds

        ignore any data that doesn’t support their dire outlook like the percentage of people actually employed.
        Ummmm? Well at least you didn’t make yourself look info.

      • K

        Simple answer. you believe the Government numbers, I do not. Cheap gasoline, does not make any real difference. When everything else is going up.

      • Rorschach

        Spoken like somebody who is dependent on the government. What data are we ignoring? Last I checked there is a Bear market similar in proportions to 2008 building right now and with a Lehman/Bear moment.

  • http://karmaeconomics.blogspot.com/ lavista4u

    Its Nibiru. Its approach is now masked as 9th Planet. Its force will start getting crazier by first week of March. Get away from Coastal Areas.

    • ONE WHO KNOWS

      So planetary forces are the cause of this financial, economic carnage?

    • Infidel51

      If nothing happens this time do you all promise to stop bringing it up? Not saying I don’t believe you, just wondering if I can get a commitment on that.

      • Gay Veteran

        why, you people were harping about the Shemitah

        • Jerry C

          Technically, the Shemitah lasts until September/October 2016 if I recall. Having said that, yes, I did believe the stock market was going to crash on the eve of Feast of Trumpets 2015. God is longsuffering toward us; in that He does not want anyone to perish but all have eternal life. Consider each day it doesn’t happen a blessing; I do.

        • Infidel51

          Not me people.

  • Tired

    Hey Michael how about a review of the Plunge Protection Team and the apparent buying of stock to stabilize the wildly swinging markets. I watch with curiosity when experienced traders express puzzlement over strange trading events,

    • GetReal4U2

      agreed…some call it the “fed hidden money”…of course they always have the “circuit breakers”as well if things get really crazy…

    • mister_roboto

      Well, I certainly did notice how the plunge in the DJIA got down into the 360 range, but that changed to a mere 180 in the second half of the proverbial ninth inning in today’s trading!

      • Marty Mann

        I agree but the actual low of the day for the Dow was -401 so its even more strange how it miraculously turns around. Obama will have the PPT to play every card available to keep it propped up until hes gone.

        • Todd

          It’s not miraculous. That’s completely normal market behavior. People are always buying on dips; mostly short term traders.

          • Mike Smithy

            Stop drinking the Kool-Aid. It’s poisonous.

          • Todd

            Not drinking any Kool-Aid I assure you. The system is rotten from within and has been for a long time. That has nothing to do with seeing conspiracy around every corner. Sometimes a duck is just a duck.

          • Jerry C

            And sometimes a conspiracy is a conspiracy.

        • mister_roboto

          I have this picture in my mind of Janet Yellen in an eighteenth-century general’s uniform complete with a big funny-looking hat raising a sword into the air and shouting, “Fiyuh the funneh-munneh canons!”

  • Mick N

    The real pisser is, all those schoolkids,heading to get taxed plenty,
    Just to pay for their ancestors folly.The Q.E Chemo failed.

  • Bob332

    This old world it is a exploding and ya tell me we’re not on the Eve of Destruction!

  • Barneybyboy

    WE HAVE LESS THAN 24 MONTHS PEOPLE…GET YOUR PASSPORTS, MRES AND ALL THE OTHER FREEDOM BASED STUFF NOW…IT IS ALMOST OVER!

    • Peace Love Bunny

      24 months mah a&&.

      24 days.

    • afchief

      I hope it’s over before April 15th. That way I won’t have to pay the taxes I owe!!!!!

      • Barneybyboy

        Be careful what you wish 4…This wont be pretty..

      • Gay Veteran

        someone actually pays you?!?!?!?!?

        • Mike Smithy

          Yes, he pimps out your mom and sister and rents ass-gerbils to ilk such as yourself.

          • Gay Veteran

            troll, is that the best you got???

          • Mike Smithy

            What more do I need to call out a pathetic gay-ass clown?

          • Gay Veteran

            pathetic and mentally challenged?

            dude, read your own pathetic posts

          • Mark

            The gay guy thinks he is an expert on economics because he can google a couple websites on issues he supports. I bet he doesn’t even have a bachelors in econ. All google educated.

          • Gay Veteran

            well Markie, I got a MBA going to night school when I was in the Army.

            first had to take introductory classes in economics, accounting, etc.

          • Mark

            Where??? On-line at Micky Mouse University.

          • Gay Veteran

            oh little Markie, tell us all how smart you are

          • Mike Smithy

            Why should he gerbil jammer? You routinely demonstrate how ignorant you are.

          • Gay Veteran

            awwwww, Mike Shi tty is back, with the intellectual ability of a du ng beetle

          • awb22

            flagged, try spell checking.

          • Gay Veteran

            are you actually that STOOPID?

            I break up words like sh it so my posts will automatically be entered.

          • awb22

            and it’s still offensive, a s s h o l e

          • Gay Veteran

            oh my, you need to grab your hankie and head over to the fainting couch, little snowflake

          • awb22

            is that what you do?

          • Mark

            Oh little gay vet I have my MBA too and did it while working full time. And no I did not do it on-line and did it the traditional way by attending traditional classes.

          • Jerry C

            To be fair, Google is the smartest guy I know.

          • Mark

            Yes, Google has all the knowledge that was thoughtfully created by humans and entered by humans. All we do is type and look. Thank your fellow human for the creation an technology. However, you always need to comprhend fundamental understanding of the knowledge you Google and that were it becomes tricky. Many today do not because we have stopped learning how to learn.

          • Mike Smithy

            OK gerbil jammer, shall we compare the number of up-vote’s that I receive on this blog compared to yours? I rest my case dumb-ass.

          • Gay Veteran

            OK Mike Shi tty, like I give a rat’s a ss how many up votes you get here.

            and again, read your own pathetic posts, intellectual ability of a du ng beetle

          • Bill G Wilminton NC

            Mike dont waste your time with this idiot……he contributes nothing but little weak farts…..just skip em.

          • Mark

            Amen brother. I bet he listens to Liberace CDs. Oh, maybe even dresses like him too.

          • awb22

            pkb, good enough.

    • Jerry C

      On the contrary, LUITPOS is positioned to be the next Secretary General of the United Nations at the end of this year and the Great Tribulation doesn’t start until 3 1/2 years into the confirmation of the peace agreement, so I’m saying we got some time.

      • Barneybyboy

        Thanks Brother….I am praying and prepping….God Bless You and Yours

  • Joe in OH

    U.S. banks’ stocks have been beaten down lately too. BAC, C, GS, WFC are all way down from a few months ago. Meanwhile, gold is finally moving higher. Treasuries are higher too with the 10 year yield dropping below 1.8% and TLT over $1.31. People are fleeing from risk.

    • Bill

      Perhaps some areas of real estate are now getting more attractive.

  • tayronachan

    But wait….they told me this time was different!

  • Raymond Chuang

    My fear right now is that we headed for a perfect repeat of the 1930’s: severe economic malaise that results in increased political extremism that will end with only one outcome: a general world war, since a lot of countries will have nothing to lose by starting a large scale war.

    • Maple Curtain

      There won’t be any “world” wars because there are no nation-states to battle each other.

      There will be pan-European civil wars with attendant ethnic cleansing, and possibly another U.S. civil war with a great deal of ethnic cleansing.

      Canada will collapse as an independent state due to a massive influx of minority “refugees” fleeing the U.S. after the collapse of the EBP system.

      • Dana Webb

        Gets pretty cold up there in the winter I think I would go a little south.

        • alan

          Confederate States won’t take them, better go west.

          • elmcqueen3

            California doesn’t want them…this state is already broke and doesn’t want any more refugee’s…however they just keep on coming and coming and California just keeps on getting poorer and poorer…No wonder so many Californians are leaving for greener pastures else where…Sadly they are bringing their liberal and socialistic attitudes with them as they resettle in other states like Colorado…thus turning this state into another liberal Democratic political hotbed.

          • Stan

            I’m leaving this Summer…. Last kid out of high school and we plan to divest completely and move to a state that appreciates traditional American values.

          • elmcqueen3

            It’s getting harder and harder to find such a state…more and more out of stater’s from the east coast/west coast have done the same…My brother and his family are original Californian’s…They moved to the beautiful state of Oregon and took all their liberal Democrat ideology with them…And now we see what is becoming of the state of Oregon…My daughter and her family moved out of California some years back to Keene, NH because they thought it was such a good state to raise their kids…during HS my younger grandson got hooked on Heroin which broke my daughters heart…He is off the drug but still going through treatment and that was 4 years ago…Colorado used to be a red state…not anymore…
            Sanctuary cities, legalized Marijuana, Heroin and other drugs are smuggled across our southern borders by the Mexican drug cartels and end up primarily in Democratic states… not forgetting the influx of human trafficking, nor the more than 100 gangs that run rampart in Denver, Colorado…of which the membership of one of these motorcycle gangs is made up of police officers and firemen…
            with which a member of a rival motorcycle gang was killed by a police officer member with a gun in a free for all gang brawl at a well known Colorado motorcycle events show…Democrats love such lawlessness…that’s how they flourish.

        • Maple Curtain

          They’ll go wherever they believe the “gimmedats” are to be found.

      • Raymond Chuang

        However, it’s getting to the point that China may use force to turn Hong Kong from a Special Administrative Region to being part of China itself, invade Taiwan, and/or possibly “settle old scores” with India over the disputed border between China and India. With the world’s economy on the verge of a major collapse, they may have nothing to lose attempting any of these acts of aggression.

    • elmcqueen3

      The US will not have enough finance’s to fight a world was…already we are running out of rockets having used up most of our supply and there is no funding for more rockets with in the Pentagon’s budget…Why do we think our military is on the down slide…all these continued wars around the globe is drying up our resources and finances…Why are we borrowing billions of dollars from China and Japan every year…If a world war were to take place we taxpayers would have to pay for it dearly through the nose…We complain about a 30% tax bracket…how about a 70% tax bracket just to finance a world war…perhaps even more after all our other (hidden) taxes are raised on the American populace as well.

      • Gay Veteran

        I fixed your sentence: all these continued wars OF AGGRESSION around the globe is drying up our resources and finances

        • elmcqueen3

          Thank you.

          • Gay Veteran

            you are welcome

  • Jerry Loy

    Michael read David Wilkersons prophecy. He prophesied five+ years ago the great financial collapse would start in Germany. From that point of collapse we have two weeks to get our money out of our banks as a bank holiday will be declared. This will last six months. America will survive but will be forever changed.

    • elmcqueen3

      Obama should be so happy he was a part of it.

  • Phil from Germany

    Plan B will be put into action here, Im going to take out all the money I can from my German account , leaving only enough to pay bills. Now I see why they want to stop any transaction over € 5,000 in cash. Thankful that I listend to those of more intelligence over the years and have Silver.

  • MP

    Any good news?

    • df NJ

      Regardless of all the dire news people continue to copulate, have babies, and buy stuff.

  • MP

    Is that the rattle of printing presses warming up I hear?

    • alan

      Yep, everything will be papered over. in a month we will all be worried about Bigfoot stealing children or Dog flu.
      After watching this circus for 7 years I figure it will go on a lot longer. I think if something big was about to let loose you would see hints like important people leaving on vacation, military maneuvers, More fake news stories.

      • Tired

        Please do not bash Bigfoot. There may a Bigfoot out there. I believe in Bigfoot but not honest politicians. You might still see a Bigfoot!

        • df NJ

          My son thinks the reason why they’ve never caught a big foot is because they are of extraterrestrial in origin.

          • http://www.mindbodygreen.com Kim

            I know where Bigfoot lives. He lives in Yakima County, Washington, on the eastern slopes of the Cascade Mountains along the Naches River. I know this for a fact.

          • pulltheweeds

            lol

          • Jerry C

            There are no ETs so your son is wrong.

        • http://www.mindbodygreen.com Kim

          No serious, Bigfoot is real. He lives in Yakima Washington, along the eastern slopes of the Cascades, near the Naches River (near the Nile Valley)

          • The GOOSE

            I think I’m Bigfoot, I wear a size 16 shoe.

    • Jerry C

      No. That’s the printing presses over-heating.

  • billtheguy

    The JFK shooting….. The Apollo moon landing……. The government said “we pulled the wool over Americans eyes. Let’s do it some more”. No one has given me real proof that the two instances above actually happened. Now propping up the casino. Do they really think we are that stupid that in the last moments the market recovered?

    • df NJ

      I saw a shuttle launch in person. I was 3 miles away and felt the heat from the rocket. I find it really difficult to believe it was all fake. I remember thinking at the time when I saw it “the astronauts are all dead”. Essentially, the astronauts are sitting on top an explosion that doesn’t stop. I really thought they were dead. But it worked.

      • billtheguy

        I’m going to go to that video. Sometimes I get the feeling the moon landing happened, then I get the feeling it didn’t. I try to be un-biased when reading articles.

      • beyond partisan

        I am sure we have sent rockets up into space, but landing on the moon? I am a bit skeptical about it. We haven’t gone back even though technology is so much more advanced now. Odd.

  • df NJ

    I used to work for Deutsche Bank in Jersey City. They paid really well. It was an okay job. The company was managed okay but they have some issues. Maybe they should just break up Deutsche Bank and divide up its customers and assets.

  • grumpyhillbilly

    We have the perfect storm of economy collapsing, refugees invading, constant war for constant chaos, horrible diseases of questionable orgins, and so on. Don’t you just love it when a plan comes together?

    • df NJ

      God’s plan?

      • http://www.mindbodygreen.com Kim

        Of mice and men

      • Jerry C

        Seriously? Why the hate? God’s plan is for you to prosper. These plans have been laid for thousands of years before you were even born by the god of this world & his evil minions. You’re just at the End Game.

  • J B

    I’ll take Deutche Bank on Feb 19 2016 for 5 big ones, 5 Bucks it’s will Implode. Then watch trillions of dollars that don’t exist change hands from all the side bets, insurance bets on the side bets and the side bets on those insurance bets just topple over like dominoes.

    • Jerry C

      South Park-“It’s gone!”

  • Mike Smithy

    Last night the German Finance Minister and the CEO of Deutsche Bank proclaimed that they are not worried. Never forget that whatever these guys say, the opposite is usually true.

  • ProclaimingGodsTruth

    Michael, the time of the Black Horse – Rev 6 – is almost here. The Red horse, IMO, is riding and hence all the crime, hate, killing all over the world. Pale horse is very near – pestilences increasing, sword, famine, death near. No gloom folks, facts.

    The White horse (deception) has been riding harder now since the Pope visited the Congress and WH in Sept 2015.

    It is my firm belief that the “Great Sword” payload of the Red horse will manifest itself in a huge war which may be caused by the global financial crises. The Gog/Magog war may precede or follow this…

    Stay tuned … this will not get better. The King is coming!!

  • HomoRationalensis

    2008
    I’ll never forget the day some female CFO of Lehmans went on air and said with a straight face something like “Our fundamentals are solid, we’re well capitalised…etc.” The very next day Lehmans filed for bankruptcy.

    2016
    Deutsche Bank, DoubleSpeak & Glencore are saying the same things..

    WW3 is coming because this time what can the central banks do now they’ve fired all their bullets?

  • Marty Mann

    If this ship is truly going down, I wish it would take on water a little faster than it is. Im getting tired of waiting to see what the “remedy” will be that the Fed comes up with, not that it will really matter.

    • http://www.mindbodygreen.com Kim

      Be careful what u wish for. Use this time wisely.

      • Marty Mann

        I wouldnt be stating it if I wasnt already prepared!

  • elmcqueen3

    “Don’t Cry For Me Argentina”.

  • df NJ

    One day Jesus was talking to one of his disciples about a battle that goes on inside of people. He said, “My friend, the battle is between two ‘wolves’ inside us all.

    One wolf is evil. It is anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego.

    The other wolf is good. It is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion, and faith.”

    The disciple thought about it for a minute and then asked Jesus, “Which wolf wins?”

    Jesus replied, “The one you feed.”

    • Bill G Wilminton NC

      Yeshua ( Jesus) NEVER said we have TWO WOLVES within us and/or the the wolf we FEED is the wolf that wins. To QUOTE words of Yeshua…. that are NOT HIS WORDS is an abomination.

      This is NOT in THE BIBLE ! and would only be used by a NON Biblical person and/or a False Prophet.

      Mathew 7:15 ” Beware of the false prophets, who comes to you in sheeps clothing, but inwardlly are ravenous WOLVES “.

      You sir are a FALSE PROPHET !!!

      • beyond partisan

        Calm down! You are right, Jesus never said that, but confusing the source doesn’t mean the parable is evil or bad. Overreacting like this makes Christians look like uptight word police.

        • Bill G Wilminton NC

          This parable is BAD it implies salvation by choice of wolf not the Grace of God……no mention of God.

          The Native American Indians had a religion of nature with a God within each facet of nature( trees, cows, wind etc. ) all had a spirit within.

          What is the Truth is not a Lie….and stating the Truth of The Word is not over reacting and the word police is The Bible…. NOT I.

          Shalom

        • Jerry C

          Overreacting? If only more true Christians would overreact we wouldn’t be viewing a sight on the coming economic collapse.

    • beyond partisan

      Jesus never said this, it is a Native American saying.

    • Jerry C

      This is why no one gives any of your Biblical nonsense any consideration.

  • http://www.mindbodygreen.com Kim

    And here we go again today. I too have been talking about this for two years and here we are. It doesn’t feel good to be right. But the writing was on the wall the whole time. People don’t wanna talk about it. They want to talk about fluffy feel good things. But the problem is, nobody will escape this without some serious economic pain, to put it lightly.

    • Philosopher

      I plan on using it for financial gain and have been positioning myself for several years. I will not have much sympathy for the folks that didn’t pay attention and have to sell for pennies on the dollar. Good. Once in a lifetime opportunity that I plan to take advantage of.

  • http://www.mindbodygreen.com Kim

    Pretty badly.

  • Mondobeyondo

    “Fortunately things are not this bad here in the U.S. quite yet, but we are on the exact same path that they (the Europeans) are.” Couldn’t have said it better myself.

    When all is said and done, it will be interesting to see the debris on this side of the Atlantic. Who will be the last investment bank standing? Morgan Stanley, perhaps? Can AIG take another hit and remain alive? Hmmm. Tune in to our next episode of “As the World Burns”…

    • HomoRationalensis

      The US is already in recession, every dog and his chewed up cat knows it. The phony historical data the dogs in Wall Street use is rear view mirror stuff. Real time data shows the US is in freefall like the rest of the world.

      The clowns will soon be forced to admit it.

  • rentslave

    Dave Stockman was just on Bloomie.He laid it all out for the viewers.The hosts resembled Quayle vs Bentsen.

  • Richard O. Mann

    Throw in the invasion of Europe by the Islamic hordes, and you have the end of modern day Europe. It is going to fall into ciaos and destruction. This will give way to the coming European Messiah, all so known as the Antichrist. All three major religions of world, along with Europe, are looking for their Messiah to come and put things right. Christian, Jewish, Muslim, and Europe, all looking for the person who will fix this world. Interesting times to be alive.

    • Steeve Girard

      There is none… common humans are stupid by nature. They only think Me, Myself and I. Those who are different and want to make a solution work, are being shun, spit on, crap upon. and then laugh at by the rest. They do not think they are connected with everything that is around, and they think everything can be made separated, without any interactions or consequences.

      • Bill G Wilminton NC

        What in the world are you trying to say please check your meds………..

        • Steeve Girard

          This is the song you are singing: Every Sperm is Sacred, Monty Python.

          • Bill G Wilminton NC

            You are a liability to whatever blog you go on to comment…….you are anti-God anti-Christian.

            You need to go on “The Cannibals of USA blog site” where you get more than the last word you get the last BITE.

  • John Cook

    What a sad bunch of comments and commentators. I suspect that many of them are paid to do it. Whatever their intentions they have rendered the comments section of a serious and intelligent site utterly useless. Well done Eskimos.

    • Bill G Wilminton NC

      Totally disagree with your estimation of this site……it was only a few weeks ago that we still had ESKIMOS attacking Michaels PREDICTIONS……how is the weather in JUNEAU…………..

      • John Cook

        It wasn’t an estimation of this site, which I think is excellent, it was an estimation of it’s Commentators. Who I think are mostly shills – which is a direct result of Michael Snyder’s writing ‘truth in excess’. That always attracts Eskimos.

        • Bill G Wilminton NC

          or brain damaged lol read steeve girard comment to richard O mann just below….what is that

          • John Cook

            That is a good comment – but what a lot of crap I had to skim through to see it.
            I also liked another post by Steeve linking to a great Monty Python song… I’m going to see if it’s a link to the video of children singing it and download if possible. Thanks Steeve.

          • Steeve Girard

            Monty was very anti-Catholic. He hated the sacredness of human life. All life is there to breed and die to him.

          • John Cook

            Any sane person would be – the old testament is poison introduced by the Eskimos to fore-doom the Christian religion.
            Imagine a truly Christian religion – No Old Testament – it would have zero rational for doing any of the evils done in ‘Christs’ name.

          • Bill G Wilminton NC

            Well I think I finally got it…. you are saying the Eskimos are the Jewish people and their Book The Torah/Tanakh which became the Christian “Old Testament” fore-doomed the Christian religion. Oh my goodness….

            Yeshua (Jesus) is JEWISH. 11 of 12 apostles were Jewish and almost ALL the first followers were Jewish.

            The Old Testament is the prelude to The New Testament and Jesus fulfilled over 300 Old Testament prophecies of The Messiah to come.

            The comments that you consider from shills are those speaking of their faith in God and the many topics that are Bible based.

            I am not a religious person but a Biblical researcher/Christian. Michael is a Bible based Christian and attracts a certain amount of like minded posts that you and Girard consider crap.

            I find Steeve Girard vulgar, crude and his posts at times undecipherable lol and his hexagram logo childish and like a rockstar wannabe. His posts are at times what takes away from the many many many intelligent and interesting posts on this blog. But I believe that most posters see his pathetic logo…. laugh…..and just blow on bye like in goodbye lol.

            And that is what I say to you Goodbye.

          • Bill G Wilminton NC

            Celebrating Monty Python who hated human life……I would expect nothing less from YOU a man who uses a hexagram as a logo…..a frustrated rock star wannabe.

            Pathetic………..

  • Steeve Girard

    The bank collapse does not affect only Germany… The German Maple Bank has been shut down by financial authorities in Germany. Canadian bank, National Bank (the brand National not the national bank) had invested 165 millions CAD, and owned almost 25% of the Maple Bank. Now they lost it all. Plus, the people involved in that investment are no longer affiliated with National Bank.
    .
    Congratulation Michael on your accomplished prediction.

    • Philosopher

      I agree. Because I have been reading the articles posted here (and other places) this was not a surprise for me. I have moved my money into some PMs and cash and have been very frugal with regard to debt.

  • Philosopher

    Great article. Loved your interview on Caravan To Midnight! I am terrified that this will end up here in the US. When? Soon.

  • Jim Mooney

    Buy beans, son. Buy beans. Dollars will be worthless and you can’t even eat gold.

  • MaxRockatansky33

    It’s the Germans again. Started both World Wars. Illuminati were born in Germany. Rothschild’s are from Germany. And the Germany started greatest refugee crisis since WW II.

    • MagicalQCreations

      I don’t totally agree with your comment. This goes far beyond the “Germans”. Unfortunately, my nation’s (the US) Federal Government is complicit and may even be the ring leader. Elites are all over the globe, they are not just Germans. The Vatican has a major hand in this as well. And NO, I am not German, I’m just tired of seeing one group singled out to take the fall for something that runs much deeper. Look for the Elite Cabal Wizard pulling all the strings, that Wizard isn’t Angela Merkel, she is just another puppet like Obama.

      • MaxRockatansky33

        The problem is that Global Elite chooses countries where major geopolicital shift is starting and imploding like major global war or economic crash.

  • A guy from Ukraine

    “…as a result of this great shaking the entire world is going to fundamentally change.”
    LET IT BE! These Augean stables must be cleansed inside out.

  • muldoon55 .

    All the financial turmoil we see unfolding is the result of mans’ inability to guide his own steps as Psalms 146:3-5 states:
    Do not put your trust in princes, in human beings, who cannot save.

    4

    When their spirit departs, they
    return to the ground; on that very day their plans come to nothing.

    5

    Blessed are those whose help is the God of Jacob, whose hope is in the LORD their God.

    Only the Sovereign of the universe can and will bring conditions to this earth that will bless all mankind who are willing to submit to the ruler ship of his son Jesus Christ.
    This sad experiment of human governance (or quest for independence from Gods’ rightful rule) that has lasted for over 6000 years, is about to come to a tragic end.
    No amount of prepping or the amassing of gold and silver will save you from the coming hurricane of Gods’ judgement. Only full trust and reliance on Him and His agency of salvation through Jesus Christ will!

  • Evil_shadow

    here it goes…that’s what happen when some are too greedy …well at least i dont have to worry about stocks loose .i cling to hard assets(farming ) ,that wont be so hard to lose :)

  • Norman Hershey

    If ya just read the Bible, ya wont be so confused. Stop makin up your own Bible

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