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Former Reagan Administration Official Is Warning Of A Financial Collapse Some Time ‘Between August And November’

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If a former Reagan administration official is correct, we are likely to see the next major financial collapse by the end of 2017.  According to Wikipedia, David Stockman “is an author, former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.”  He has been frequently interviewed by mainstream news outlets such as CNBC, Bloomberg and PBS, and he is a highly respected voice in the financial community.  Like other analysts, Stockman believes that the U.S. economy is in dire shape, and he told Greg Hunter during a recent interview that he is convinced that the S&P 500 could soon crash “by 40% or even more”…

The market is pricing itself for perfection for all of eternity.  This is crazy. . . . I think the market could easily drop to 1,600 or 1,300.  It could drop by 40% or even more once the fantasy ends.  When the government shows its true colors, that it’s headed for a fiscal blood bath when this crazy notion that there is going to be some Trump fiscal stimulus is put to rest once and for all.  I mean it’s not going to happen.  They can’t pass a tax cut that big without a budget resolution that incorporated $10 trillion or $15 trillion in debt over the next decade.  It’s just not going to pass Congress. . . . I think this is the greatest sucker’s rally we have ever seen.”

But even more alarming is what Stockman had to say about the potential timing of such a financial crash.  According to Stockman, if he were to pick a time for the next major stock market plunge he would “target sometime between August and November”

The S&P 500 is going to drop by hundreds and hundreds of points sometime over the next few months as we drift into this unexpected crisis. . . . I would target sometime between August and November because that’s when the rubber is going to meet the road on a debt ceiling increase when they are out of cash.  Washington is going to end up in vicious political conflict over what to do about the debt ceiling. . . . It is going to be one giant fiscal bloodbath the likes of which we have never seen.

That really got my attention, because those are the exact months during which the events that I portrayed in The Beginning Of The End play out.

Without a doubt, the U.S. financial system is living on borrowed time, and we cannot keep going into so much debt indefinitely.  In 2017, interest on the national debt will be more than half a trillion dollars for the first time ever, and it will be even higher next year because we are likely to add at least another trillion dollars to the debt during this fiscal year.

Meanwhile, the financial markets just keep becoming more absurd with each passing day.

Just look at Tesla.  This is a company that somehow managed to lose 620 million dollars during the first quarter of 2017, and it has been consistently losing hundreds of millions of dollars quarter after quarter.

And yet somehow the market values Tesla at a staggering 48 billion dollars.

It is almost as if we are living in an “opposite world” where the more money you lose the more valuable investors think that you are.  Companies like Tesla, Netflix and Twitter are burning through gigantic mountains of investor cash without ever making a profit, and nobody seems to care.

Commercial mortgage-backed securities are another red flag that is starting to get a lot of attention

The percentage of commercial mortgage-backed security (MBS) loans in special servicing hit 6.6% to close April, Commercial Mortgage Alert reported, citing Trepp data. The five basis point move higher from March came as the past-due rate on Fitch-rated commercial mortgage-backed securities (CMBS) climbed by nine basis points to end April at to 3.5%.

Both MBS and CMBS rates hit their highest levels since 2015.

During the crisis of 2008, regular mortgage-backed securities played a major role, and this time around it looks like securities that are backed by commercial mortgages could cause quite a bit of havoc.

One of the reasons for this is because mall owners are having such tremendous difficulties.  The number of retail store closings in 2017 is on pace to shatter the all-time record by more than 20 percent, and Bloomberg is projecting that about a billion square feet of retail space will eventually close or be used for another purpose.

So needless to say this is putting an enormous amount of strain on those that are trying to rent space to retailers, and a lot of their debts are starting to go bad.

In 2007 and early 2008, a lot of the analysts that were loudly warning about mortgage-backed securities, a major stock market crash and an imminent recession were being mocked.  People kept asking them when “the crisis” was finally going to arrive, and leaders such as Federal Reserve Chairman Ben Bernanke confidently assured the public that the U.S. economy was not going to experience a recession.

But of course then we got to the fall of 2008 and all hell broke loose.  Investors suddenly lost trillions of dollars, millions of jobs were lost, and the U.S. economy plunged into the worst recession since the Great Depression of the 1930s.

Now we stand poised on the brink of an even worse disaster.  The U.S. national debt has almost doubled since the last crisis, corporate debt has more than doubled, and all of our long-term economic fundamentals have continued to deteriorate.

The only thing that has saved us is our ability to go into enormous amounts of debt, and once that debt bubble finally bursts it will be the biggest standard of living adjustment that Americans have ever seen.

So I don’t know if Stockman’s timing will be 100% accurate or not, but that is not what is important.

What is important is that decades of exceedingly foolish decisions have made the greatest economic crisis in American history inevitable, and when it fully erupts the pain is going to be absolutely off the charts.

 
  • Liberty First

    Sound commentary. Be in cash.

    • socalbeachdude

      Yep.

    • aldownunder

      Yep absolutely,and then swoop in and pick up all the bargains for pennies on the dollar

      • Liberty First

        Exactly

      • Taos61

        Sure,if you have a 20 yr.time horizon.GE didn’t regain its pre depression value until 1953.And of course some stocks never came back,just went to the trading center in the sky.Stay healthy.

    • Taos61

      Be in cash???Ever heard of bailins?Bank “Holidays”?Only physical gold and realestate that can be homesteaded.Cash will only make good outhouse wallpaper.

      • JC Teecher

        Cyprus was a test run for coming bank bail ins.
        All cash/paper notes, like CD’s, and bank held stock portfolios, are subject to a bail in, through Odrama’s orders/laws. A person with their life savings tied up in a bank savings/checking account, and Certificates of Deposit, could wake up one day, and find them locked in the banks computers with no access and the banks “physically” on lock down.
        When they do reopen, the banks, through a gov mandated legal bail in, could have reduced those accounts by 50% or more, or they could be transferred into a New (world order) currency, whereby they are now worth pennies on the dollar.
        Adjust wisely.

        • Taos61

          Exactly right.

        • socalbeachdude

          Laughably false.

      • Zenithon

        I understand the benefits of homesteading, but if you think that real estate in general is good to own in the next downturn, why do you say only real estate that can be homesteaded?

        • socalbeachdude

          There are no benefits to “homesteading.”

        • Taos61

          Homes are the biggest investment for most.Income property is best as it is mostly immune from downturns.People have to have a place to live.Check out the rents here in Ca.Going up every day.They will plateau,but who cares.One has a revenue stream rain or shine.

          • socalbeachdude

            Housing prices will crash up to 80% in the coming US and global real estate crashes.

      • Hopeful

        What about my investment rentals which aren’t homestead? Should I sell them or with the crash will there be more renters? But how will they pay? Hard to know what to do, but trusting God, He says He will never leave us or forsake us!

        • Carl

          Allah will never leave you.

        • Taos61

          I too own investment rental property as opposed to some here who are armchair investors.Notice I said investor,not speculator.Been through 4 or 5 downturns.Never missed a beat.As long as you are in necessity investment vehicles such as shelter,food production or transportation,things go fairly smoothly,managed properly.Lower income rentals have shined the brightest.Just never defer maintenance.Besides,you never want to run out of paper in the library so keep a few $.

        • Nobleharbor

          You could trade them to the moneylenders. If things work out you can collect rent.

          If not, you will have the value of your Trade which hopefully you will invest in things you can consume, trade, or both.
          Your trust in the Absolute is commendable. However I never have read anything attributable to the “word of God” that implied that YOU shouldn’t either become prudently self-reliant, or that YOU shouldn’t Leave, as necessary… preferably before it hits the fan!

      • socalbeachdude

        Obviously, gold cannot be “homesteaded” at all and homesteading laws only protect $10,000 or $15,000 or so on the value of a house which is beyond trivial these days. Cash is king and the US dollar is KING OF KINGS.

        • US dollar is KING OF KINGS. On the US dollar are the words “In God we trust”. The Americans have changed that to “In Dollar we trust”. This was the mistake made by the ancient Israelites which was condemned by Jeremiah. They believed that Jerusalem would never fall because the Temple of God was there. Instead of trusting in the Living God of the Temple, they trusted in the stone Temple of God. That was idolatry. They paid dearly for it.

          • socalbeachdude

            The US dollar will continue SOARING UPWARDS and is the most used and most desirable currency in the world. Outflows of money have virtually been STOPPED FROM CHINA causing most all of the deals in Hollywood to blow up and have severely curtailed real estate speculation by the Chinese around the world.

            China’s currency, the renminbi (RMB / Yuan) is the most egregiously overprinted currency in the world and has created (printed) more than $30 trillion in renminbi (RMB/yuan) over the past 10 years expanding its money supply to more than $34 trillion renminbi whose value is largely pegged to the value of the US dollar with very minimal float. During the same time the US money supply has only expanded by about $5 trillion while the US economy is nearly DOUBLE THE SIZE of the Chinese economy. If that dollar peg to the Chinese renminbi were to be removed the value of the Chinese renminbi would fall to nearly WORTHLESS as its value rests nearly entirely on the back of the US dollar.

            China March outbound direct investment slumps 30.1% as capital curbs bite

            http://in.reuters.com/article/china-economy-odi-idINKBN17K0ES

          • Paul Patriot

            Absolute copy and paste propaganda nonsense, based of all the economic articles I have read, and podcasts i have listened to, which consistently proclaim the dollar as losing its value.

            Someone is correct and someone is wrong, question is, is who?

          • socalbeachdude

            Where do you come up with such utterly bogus nonsensical notions?

            The US dollar will continue SOARING UPWARDS and is the most used and most desirable currency in the world. Outflows of money have virtually been STOPPED FROM CHINA causing most all of the deals in Hollywood to blow up and have severely curtailed real estate speculation by the Chinese around the world.

            China’s currency, the renminbi (RMB / Yuan) is the most egregiously overprinted currency in the world and has created (printed) more than $30 trillion in renminbi (RMB/yuan) over the past 10 years expanding its money supply to more than $34 trillion renminbi whose value is largely pegged to the value of the US dollar with very minimal float. During the same time the US money supply has only expanded by about $5 trillion while the US economy is nearly DOUBLE THE SIZE of the Chinese economy. If that dollar peg to the Chinese renminbi were to be removed the value of the Chinese renminbi would fall to nearly WORTHLESS as its value rests nearly entirely on the back of the us dollar.

          • The US$ is truly worthless in itself. It is only backed by US missiles and presstitudes. Gaddafi wanted to bypass the US$ and he was bombed and sodomised. If the Saudis want to dump the petrodollar, they will have to seek Russian & Chinese protection. China plans to purchase oil in RMB which will be simultaneously converted to gold through the Shanghai Gold Exchange. They have not pulled the trigger yet. US is transferring more military hardware to surround China on the pretext of dealing with North Korea. This is a warning to China. They are ready to attack China.

          • Taos61

            You are spot on.

          • sister soldier

            That’s one way to drown a shark (loan shark) in this case. America is so indebted to China the only way out is the way through. They will have to take them out or sell the nation into slavery of a foreign occupation.

          • socalbeachdude

            Laughably false. China only owns about $1 trillion of the outstanding total of $20 trillion in US Treasuries (government debt) which is less than 7% of the total.

          • Meccaisbabylonthegreat

            Agreed. And if we attack China….. Good God Almighty…..

          • FadingFiat

            Serious question, no insults intended….I’ve heard this for a long time from many so you aren’t alone in assessment….Besides manpower, does China actually have the number of planes, ships, subs, tanks, missles, economy, other hardware etc? I’m not sure the they have been tested in war either, but the USA is always at war and for the time being many citizens have at least some for of firearms. Now if China and Russia, along with others collude….

          • socalbeachdude

            China just built their very first actual military ship this year and it has practically no military hardware compared to the US.

          • socalbeachdude

            What utter nonsense. All currencies are backed by the current and future assets and current and future labor and productivity of the citizens of the issuing country and the US is by far the largest single country economy in the world with an $18 trillion GDP with no other country even coming close.

            There is no other currency that can even begin to challenge the supremacy of the US dollar.

            As to “tangible” stuff (thingies) all of the assets purchased by the US dollar including all of the goods and services in the economy as well as all commodities which are all priced in US dollars and the total value of all of those thingies adds up to vastly more than the total amount of dollars in the broadest M2 measure of the US dollar which is only about $13.5 trillion US dollars in US banking institutions. The total value of all household assets alone in the US now exceeds $92 trillion based on current valuations.

        • Taos61

          But it sure can be hidden.A history lesson is indicated here.

          • FadingFiat

            But can it be in 2017? …with satelites that can (allegedly) read a dime from space, ability to see through the earth for miles and multiple walls/roofs, tracking/listening/controlling devices on about everything, ability to take land and everything else as “needed/wanted” and other high tech “eguipment” they have purchased with a printing press and American citizen taxpayer…. “donations?”

          • Taos61

            Let’s not go off into the weeds on this.Just find a nice hiding spot and stash it there.Enough said.

          • socalbeachdude

            Which leaves it vulnerable to burglary and robbery which puts you 100% at risk.

          • Taos61

            There are no 100% guarantees.That’s life.Get used to it.

          • socalbeachdude

            Gold bullion is NOT INSURABLE except on a Jeweler’s Block insurance policy.

          • Nobleharbor

            Of course Gold can be insured… Mostly with prudent use of stockpiled Lead, Brass & of course smokeless powder.

          • socalbeachdude

            No, gold bullion CANNOT BE INSURED at all unless you are a jeweler.

        • FadingFiat

          Gotta admit Martin Armstrong has been saying that and ironically he seems the most accurate for the last few years from my admittedly limited knowledge of such. The more I learn, the more I seem to not know about it as nothing seems to make sense from a logical perspective.

        • LAWD

          True statement. Cash will be king, it’s digital money that will be the next Wiemar dollar. Digital money the banks bail in. People need to not put all their eggs in one basket. Some cash, some PMs and some preps.

          • socalbeachdude

            Digital US dollars are the VERY SAME THING AS PRINTED CURRENCY. There is only about $1.3 trillion even in existence in printed US currency within the $13.5 trillion of US M2 money supply.

          • LAWD

            They are not. Printed US$ have to be backed even if only by more debt such as T bills. Digital money is backed by nothing.

          • socalbeachdude

            Absolutely false. There is no difference or distinction whatsoever between printed US dollars and digital US dollars in any respect at all.

            All currencies are backed by the current and future assets and current and future labor and productivity of the citizens of the issuing country and the US is by far the largest single country economy in the world with an $18 trillion GDP with no other country even coming close.

          • Nobleharbor

            Dollars? Rem-bi? Digital Cash?…
            They are all the same.
            Bills.
            Bills that are past due, and noncollectable.
            I’d buy something with those Bills, that has intrinsic value. Something that does not rely on technology to consume or trade.
            Just sayin.

          • socalbeachdude

            Huh?

        • Zenithon

          It is true that in many states the protection provided by homesteading is pretty trivial as you describe, but that is not true in all states. There are several states that have an unlimited amount of protection and a bunch more that are well above $100,000.

        • Taos61

          Too many biblical movies for you.

          • socalbeachdude

            Huh? Was the US dollar mentioned in the Christian Bible which was written around 2,000 years ago? The USA has only been a country for the past 240 years!

          • Taos61

            Haven’t you ever heard of the movie, king of kings.Where have you been.It’s biblical in nature,of course you are a practicing Christian.

    • phil stein

      Of course ! It’s the 20th time this idiot is predicting a cataclysm ! LOL this site is complete BS

      • Isaac Nussbaum

        “complete BS”
        Are you suggesting, Phil, that economic indicators are strong and that they predict a robust U.S. economy for the foreseeable future?

        • FadingFiat

          The fundamentals are terrible, (really for years now) but somethow they keep their devilish majick going, until they decide they won’t I presume.

      • Phil from Germany

        Mr Stockman has excellent financial credentials, just remind us all about yours. I dont think he has called the crash 20 times beforehand. He has predicted what will happen, but as far as I know never with a firm year in mind

      • randy wellman

        which of his facts did you find untrue?

      • Taos61

        Hey phil,where were you 8 yrs.ago??We were falling into depressionary times.Some might call that cataclysmic.No bailout this time however.That downturn will be a picnic compared to the next one.

        • socalbeachdude

          The GRAND GLOBAL DEPRESSION began in August 2007 and has been intensifying ever since in the US and globally.

        • phil stein

          And since then, how many other meltdowns has he “predicted”? At least 20 horrible crashes that were supposed to happen within months

      • Liberty First

        Like all of the warnings before 2007? There were lots of them…

  • Burt Gummer

    Unfortunately, There have been copious articles, warning us of a financial collapse every year, and each year goes by, and no collapse. I believe at some point, there will come a time of Tribulation, but much like the Boy Who Cried Wolf, many folks are just rolling their eyes to these doomsday scenarios. Stay focused folks, Don’t lower your guards.

    • dlewenz

      The author has the correct facts and his analysis has not taken into account the leverage of global debt. We are now approaching a major economic cylical recession. This time the federal Reserve has no bullets in the chamber. They have not clawed back the 4 plus trillion loans to our banking system. This downturn will be like watching an atomic bomb vaporizerin nyc.

      • socalbeachdude

        The Federal Reserve did not make “4 plus trillion loans” to the US banking system, but rather simply created money out of thin air of around $3.6 trillion to BUY EXISTING ASSETS FROM MEMBER BANKS consisting of US Treasuries and MBS instruments and then DEPOSITED THOSE PROCEEDS INTO THE RESERVES ACCOUNTS OF THOSE MEMBER BANKS INSIDE THE FEDERAL RESERVE thereby increasing both the assets and liabilities side of the Federal Reserve balance sheet.

    • Taos61

      Some must have the attention span of an 11 yr.old.Does 09′ ring a bell???It was a collapse.If the taxpayers didn’t bail out companies,nest stop,hooverville.Lots of reading material on this subject.

      • socalbeachdude

        Absolutely false. There was no “collapse” at all and all of the very short term loans to companies were IMMEDIATELY REPAID to the US government. The entire problem with the 2008-2009 period was FASB Rule 157 which involved “mark to market” accounting on securities owned by financial concerns and once that was essentially RESCINDED on March 9, 2009 all of the problems immediately and instantly vanished.

        • FadingFiat

          Bold font doesn’t make an argument more credible or factual. Citing sources would be useful for enlightened dialoge.

          • socalbeachdude

            FASB Rule 157 was a NEW RULE which would have gone into affect at the end of 2008 and had NOTHING SPECIFICALLY TO DO AT ALL with FASB Rule 115.

            The Federal Reserve had nothing whatsoever to do with FASB Rule 157, nor did Congress have anything to do with FASB Rule 157.

            FASB Rule 157 was implemented for fiscal years begin on or after November 15, 2007. It is also known as the Statement of Financial Accounting Standards No. 157, Fair Value Measurements, and is also commonly known as “FAS 157” or “FASB Rule 157.”

            FASB Rule 157 is an accounting standard originally issued during September 2006 by FASB, which became effective for entities with fiscal years beginning after November 15, 2007.

            http://en.wikipedia.org/wiki/SFAS_157

            FASB Rule 157 was essentially suspended after it was rewritten and reimplemented in a drastically less stringent version in early March 2009.

      • Burt Gummer

        You want to see a “collapse”? Just look what’s happening in Venezuela…NOW, THAT’s a collapse. Have we seen that yet?

        • Chained

          It’s coming

    • DeathtoFiat

      The collapse is not some big event that goes boom in the night. It’s a slow and steady grind to the end, a horrible and painful death by a thousand cuts. It takes decades. War is the only solution, and it will solve all the debt problems. For some strange reason not many seem to factor war into their economic models other than seeing it as a black swan that descends all into chaos. In reality it’s the end game used to reset the clock. Not saying it’s good, but that’s how the system works, and by design.

  • Guest

    I won’t be surprised if the real estate, stock and bond bubbles just keep on expanding. Why not? There is nothing real about these markets, so why must they crash? They are so manipulated and distorted by the central planners that it’s impossible to make sense of them or predict what will happen. We’re in unchartered territory. Everything is backwards.

    • socalbeachdude

      What ultimately limits those bubbles is that the SUPPLY OF GREATER FOOLS totally runs out. Housing is now totally unaffordable for most Americans and stocks are beyond preposterously overvalued.

  • Guest

    Prepping is hard when you’re poor. I have emergency food that I bought years ago that has passed it’s Best By Date. This evening I ate some of that food so that it wouldn’t go to waste. The Best By Date on the can of food that I ate was September 2016. The food was fine. My point is that it’s difficult to prepare when you’re financial resources are limited. We don’t know when the next crisis will start. And when it does start we don’t know how bad it will get. Will the grocery stores have food? Will the power grid go down? Will gasoline be available? Will I still have a job? I don’t take any prescription drugs, but millions of Americans do. Will drugs still be available?

    • JC Teecher

      We started out prepping with an open mind, and a bit skeptical in 2006. We began like we were poor people but together we made over 6 figures, with no children at home.

      Purchasing the basics, and trying to make the easiest, yet safest way to store them, almost became an obsession. Once we had an easy way to collect glass jugs, and jars, we began cleaning them thoroughly, and filling them with dried beans and rice.

      In our spare time, we kept collecting gallon and half gallon jugs with good metal lids, and even liquor bottles with metal lids as well.
      As we got into it more we sought out the super markets for dried pintos and rice on sale. We set a maximum price of which we would pay, and kept at it for years, and added other long term storage items.
      We began a garden in 2007 and started canning green beans in a pressure Canner. to date we have accumulated over 300 quarts of delicious green beans, all organically grown. Just finished off the last of the 2010’s about two months ago, and they were just as fresh tasting as the day we canned them.

      We have cycled through a lot of our can goods with dates and some of the dried pintos and rice, and have no idea how many gallons/lbs. of dried beans and rice we have accumulated. To date, the only thing we can tell any difference in is the pintos over 4 years old have a darker tint, and require longer cooking, but are still tasty when seasoned right, and are safe to eat.
      Dried pasta will keep for many years as well, and with packets of seasoning mixes, like Alfredo sauce, the meals are a good cheap variation.

      Good luck and many blessings.

      • JC Teecher

        And don’t forget jerky. Make your own if you can get venison, or cheap beef.
        We have been drying apples and venison for years, and guess what? Both keep for years if dried properly. i found some venison jerky the other day that we made in 2011. It was a partial gallon bag, unsealed, in the back of a cabinet where the step daughter had grabbed a handful, (she loves it), and just crammed it behind some stuff as she is a lazy butt, and does not care about anyone but herself.
        Anyways, the stuff was still great, just a little more brittle than normal.

        • alan

          cheap beef! What kind of sound did it make when it was alive? Meow or maybe arf arf?

          • JC Teecher

            squeaky sounds, while holding it up by the tail, but it was as big as a meow.

          • FadingFiat

            The only reason I agreed to my wife’s pet dog…. Kidding…. I hope. Venezuala….

        • infamouscrimes

          Beef is a horrible food. It will cause heart disease, diabetes, and cancer. Stick with the rice and beans.

          • Chained

            Enjoy some Soylent Green.

          • socalbeachdude

            Never eat garbage like rice and beans and always eat wonderful foods like beef, chicken, and seafood which are delicious and very high in protein.

          • none

            Also seafood might contain radio active waste, to help keep you warm in the winter.

      • Jason Klingor

        You all should read about ALEC DEACON for Preppers and Prepping, best prepper literature in the net. And about Silvio Gesell and Bioregionalism and Freiwirtschaft und Freiwirte and money without interests and alternative currency and alternative economy…for example Prof. Margrit Kennedy (R.I.P.) and David Graeber of the OCCUPY Movement…get your own local and regional economic system for your community! You will survive best together in a team! A social community will provide advantages. Civillization might survive this way!

      • Joyce Smith

        Thank you for this valuable information. God be you and your family also!

        • ExposeThem511

          God is your only hope. No one can predict and prepare for phantom calamities. White people will be genocided.

          • HE WILL NOT DIVIDE US

            The have been for 60 years

      • DeathtoFiat

        You guys are crazy. Just buy MRE’s and long-term food storage that is freeze-dried. Lasts for 25 years. Not that you will ever need it, because before the crisis hits we will go to WAR, and that will extend it and mitigate it. The system never collapses, it just requires periodic mass liquidation of human life in order to sustain itself. No one seems to talk about this much. It’s true the economy is doomed, but it matters not. So long as bombs drop, the show goes on.

        • Nobleharbor

          Ever read the pack? That “food” is more preservative then food. MREs were never mentioned for long term nutrition. Relying on them will result in sickness over the long run. You won’t be in a position to treat them.
          Better to learn fermentation and preservation methods used for thousands of years to keep people healthy.
          Start now learning. Skills travel well.

    • Carl

      Those who need medications to live will die. Those who are elderly and not in shape health wise will die. Many will die from disease related to sanitation and the inability to wash hands and dispose of human waste. These will be the immediate dangers that far exceed worrying about looters and mobs – that will come later.

      There will be many who will just give up because mentally they are unable to handle the “new world” they wake up to. Which is completely understandable.

      Water is most important because survival 101 dictates if you have nothing to drink you don’t eat. It is a death sentence. You can go longer without food than without water.

      Not to mention you want to be as mobile as possible. Many will be stuck in place because of food supplies – canned food is heavy to move and transport if you have to walk.

      Knowing when to move on rather than sheltering in place is key. Do you stay or go? Would you leave behind loved ones who are physically unable to get up and go? That is something everyone may have to consider at some point.

      • Chained

        Fact; there is a military website that projects the population of all countries in the next 10 years or so and the USA is listed as having lost about 80% of it’s people by 2025. More so than many other countries. What do they know that we don’t? Is a war coming? How about some disease or natural disasters?

        • socalbeachdude

          What utterly bogus nonsense.

          • HE WILL NOT DIVIDE US

            The end is coming

          • socalbeachdude

            Yep, the END OF BITCON and other Ponzi scheme scams and bubble pricing on assets is indeed coming to and end soon!

          • Chained

            No, it’s the end of man’s reign. The end of days as prophesied in the Bible.

          • Chained

            Research it before you make asinine statements but it is understandable since you are a left coast millennial progressive libtard slacker.

            Go to: deagel dot com / country/ forecast

          • socalbeachdude

            What utter nonsense. Get a clue, dude.

          • Chained

            So you have not visited the website then I see

          • Chained

            You also have to understand Bible prophecy and where the world is in respect to it. I surmise by your location and love of the beach and age that you are clueless of what’s in the bible.

          • socalbeachdude

            You have to get a clue and if you want to assert something ludicrous then CITE ACTUAL SOURCES rather than just baseless inane and bogus assertions.

        • Bruce

          And what web site would this be? If it’s a fact as you assert then where is the web site?

    • none

      The “best by” dates are when the nutrients break down. Tastes great, but,,,, I would invest in one a day type vitamins. With lots of vitamin C. Also spices like cinnamon, since they very storable.

  • LIZ THE SHIZ

    this guy has been saying the sky is falling for many years now and true story he bounced a check on my company while he headed up one of our other divisions

    • Guest

      David Stockman gave you a bad check? I find that hard to believe.

      • ALWAYSTOMORROW

        How do you know he was talking about David? 😉

      • LIZ THE SHIZ

        check out Heartland Partners and Tri-Mas especially during the 2008 downturn

  • Tootsie

    Are the asset prices in a bubble or instead do the prices just reflect how poor the purchasing power of the dollar really is?

    • socalbeachdude

      The US dollar is doing extremely well and is near 100 on the DXY and its purchasing value is SOARING UPWARDS against most all commodities. It is equities (stocks) and real estate that are in EXTREME BUBBLE at this stage.

  • Carl

    Oh no not another prediction. Where is always tomorrow when you need him (or her)?

    Let’s start with the August timeline and then on August 31st we will restart the countdown clock.

    There are 116 days until August 31st and the predicted economic crash.

    • ALWAYSTOMORROW

      Hi Carl. 🙂

      By the way, I am a him.

      I think I will eat some Twizlers.

      • socalbeachdude

        What’s a “Twizler?”

        • ALWAYSTOMORROW

          Pull. Peel. Play. With Twizzlers Licorice Candy. Enjoy Today!

          • Andrea Marcelli

            Another prediction… will be wrong.

      • ali

        You up for another countdown??

      • Carl

        I will pass the countdown torch to you sir as you are it’s rightful owner.

  • Jack Frost

    Stockman started calling a financial crash imminent the week after he left the Reagan administration. If he continues his weekly calls, at some point his prescient knowledge will show through. To paraphrase, even a broken clock is right twice a day!

  • Jerry Dale Stubben

    Stockman has warned every President, Congressmember, Senator and many of their advisors since 1986 that the National Debt would bring the nation to it’s knees. Massive tax increases and dramatic budget cuts are too late. Prepare to starve.

  • Zoltar

    I have a much more accurate way of predicting an economic collapse. Throw darts at a calendar the size of a football field. A little humility would benefit the keepers of this website. I suspect that when/if a collapse occurs, it will not be when any of these articles or “experts” predict it.

  • Paul Anders

    Is it going to fall down…one day.
    Stockman has been saying the sky is falling for yeeeeears now. File it and get on with your life…

    • socalbeachdude

      The markets and federal debt are closer than ever to totally crashing, dude. Pay attention!

      • Paul Anders

        To whom you?
        Your just a Troll here.

        • socalbeachdude

          Get a clue, dude. Pay attention to the ACTUAL FACTS, obviously!

  • socalbeachdude

    What this latest prediction from David? Year #31 for the “financial collapse?” David is quite right on the catastrophic path of federal debt, but just a bit off as to his timing! The markets have stayed TOTALLY IRRATIONAL far longer than he or anyone else would have predicted from a fundamental standpoint, but just again set record highs last Friday. And total junk like BitCON is up 80% just over the past month to more than $1,600 despite being totally worthless. Markets always CRASH FROM THE TOP and David may be a little too optimistic, however, on his latest predictions for August – November 2017!

    • ALWAYSTOMORROW

      Socalbeachdude, when you say that David “may be a little too optimistic, however, on his latest predictions for August – November 2017”, that means you have another time frame in mind.

      What is it?

      • Andrea Marcelli

        Sure. If it turns out to be wrong they will fix another date.

      • socalbeachdude

        Watch China…

        • ALWAYSTOMORROW

          Thanks for your response telling me who to watch, but my question was when?

          • socalbeachdude

            The collapse has been unfolding in China for a number of years and their stock markets have crashed around 50% and the huge debt bubble is already imploding there with enormous consequences, so the answer to your question is RIGHT NOW. Watch China…

  • geoffandmarie418@aol.com

    America will and must become weaker in order for chapter 13 Rev to happen. No that doesn’t mean today, tomorrow, next week, but soon!! I’m not trying to be down cast or negative, just realistic!!!

    We will still be a military force to be reckon with!! We will still be economically important, we just won’t hold sway over other countries like we use too!! It pains me to say this say this as I recall America’s greater days!!!

    We the people can blame the elite, politicians, corporate America, but a lot of it is our fault for being divided.

    • socalbeachdude

      The federal government and states and territories can NEVER FILE FOR BANKRUPTCY as there are no provisions at all in the federal bankruptcy code to allow such.

      • geoffandmarie418@aol.com

        If we run out of money , we simply run out !!! Bankruptcy or not!! No slogands or wishful (delusional thoughts) will matter!!!

        • James Gutschmidt

          Any lack of money in the system would have to be contrived, since the Federal Reserve has a blank check book, and can print from thin air all the debt currency we need to stay afloat. The US Treasury also has certain powers to print money. Our bankruptcy is moral. Look to Jesus.

          • socalbeachdude

            Absolutely false. The US Treasury has no powers whatsoever to print any money and when the federal debt ceiling is reached it cannot even issue US Treasuries to borrow any further money. All the Federal Reserve can do with any money they create is to buy securities assets such as US Treasuries and MBS instruments and no money is ever given to anyone by the Federal Reserve.

          • James Gutschmidt

            Thanks for the elucidation, pseudonym sir. Please provide your sources.

          • socalbeachdude

            I would suggest you read the Federal Reserve Act at:

            https://www.federalreserve.gov/aboutthefed/fract.htm

          • James Gutschmidt

            We are in the information age. What’s required is knowledge, understanding and wisdom. Suggested reading Proverbs 13 KJV. Jesus is the answer to the question.

          • James Gutschmidt

            “money they create” you say? means the same thing. “We look to Jesus, the author and finisher of our faith…” Hebrews 12 “Faith comes by hearing, and hearing by the word of God.” Romans 8 I detect that you lack faith, thus your double speak, and lack of understanding. I’ll pray that you meet a witness that you cannot refuse.

          • socalbeachdude

            Huh? What does your comment have to do with what I stated?

    • JC Teecher

      …an non-repentant.

    • James Gutschmidt

      “11 And I beheld another beast coming up out of the earth; and he had two horns like a lamb, and he spake as a dragon. 13 And he doeth great wonders, so that he maketh fire come down from heaven on the earth in the sight of men,” Rev. 13:11, 13 kjv. Describes the US. Verse 1 describes the G-7 and the G-20. It all revolves around commerce and money, or lack thereof.

      • ALWAYSTOMORROW

        Your description reminds me of Spot on The Munsters.

      • GSOB

        Fulfilled

  • socalbeachdude

    Belt tightening is very good for everyone and will be a very positive experience for America and Americans as it happens.

    • ALWAYSTOMORROW

      Agreed. Thats why I have started by eating tomato basil soup and grill cheese instead of the lobster and caviar that you suggested in the last blog.

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Puerto Ricans Face ‘Sacrifice Everywhere’ on Insolvent Island…

    https://www.nytimes.com/2017/05/06/us/puerto-rico-insolvency-business-owners-anxiety.html

  • socalbeachdude

    FDIC FRIDAYS START UP AGAIN!

    Feds shut down bank, 34 branches in metro Atlanta

    A failed bank with several branches around metro Atlanta has been shut down by federal government.

    The Federal Deposit Insurance Corporation confirmed on Friday that Guaranty Bank, which also owns BestBank, had been shut down by the Office of Comptroller of Currency. The FDIC entered into a purchase and assuming agreement with First-Citizens Bank & Trust Company which will immediately take over all deposits.

    That means all depositors of Guaranty Bank or BestBank, regardless of where they conducted business, will automatically become depositors of First-Citizens.

    The Milwaukee Journal-Sentinel reports that Guaranty had been under orders by federal regulators since 2009 to improve its financial condition. But the bank struggled to return to profitability and boost its capital to required levels.

    http://www.11alive.com/money/federal-government-shuts-down-bank-34-branches-in-metro-atlanta/437412411

    • tom

      That is pretty costly to the FDIC ( us!)

      • socalbeachdude

        Indeed, Tom, particularly given the fact that the FDIC itself is ESSENTIALLY INSOLVENT while purporting to “insure” around $13+ trillion in customers’ funds at US banks!

        • tom

          Yes sir!

          • socalbeachdude

            Most people don’t realize that the FDIC (Federal Deposit Insurance Corporation) only has about $40 billion in assets to cover losses on the $13+ trillion in deposits that it purports to “insure” at banks in the USA. Sheila Bair and the FDIC board of directors deserve much of the blame for this very sorry state of affairs.

  • socalbeachdude
  • socalbeachdude

    China is the EPICENTER of the Global Economic Crash

    Ignore China’s credit risks at your peril

    https://www.bloomberg.com/news/articles/2017-04-20/ignore-china-s-credit-risks-at-your-peril-says-top-bond-manager

    China has a MAJOR CRACKDOWN in progress against CAPITAL FLIGHT and outbound investments and is getting that huge problem SHUT DOWN.

    China finally halts outflows. Now what?

    https://www.bloomberg.com/view/articles/2017-04-10/china-finally-stems-capital-outflows-now-what

    • What is pushing money out of the country? The strong US$. The Americans have pushed up the US$ to crash the RMB. George Soros betted against the RMB. He brought down the English pound. He caused the Asian financial crisis. Malaysia imposed capital control to defend the ringgit without relying on IMF. Soros lost against the RMB but the Americans have succeeded in strangling the US economy with the strong US$. Their trade deficits with China continue to rise.

      • socalbeachdude

        The value of currencies relative to each other are set in the $5.3 trillion a day FOREX (Foreign Exchange) market and the largest currency markets in the world. There is not and cannot be any price fixing at all, except by countries that do not participate in the FOREX markets and peg their currencies to the US dollar such as is the case with China which is the most egregious currency printer and credit creator in the world.

        China’s economy is about half the size of the US economy but has expanded it money supply by more than $30 trillion over the past 10 years from around $3 trillion to more than $34 trillion – all on the back of the US dollar to which the renminbi (RMB / yuan) is pegged with very minimal float. Indeed, that price fixing will soon be no longer possible and the value of the renminbi will crash big time (as it already is) against the value of the US dollar.

        China’s coming debt crisis

        http://www.asiasentinel.com/econ-business/china-debt-crisis/

        China a mess, will ‘blow up’ at some point

        https://www.bloomberg.com/news/articles/2017-03-27/evercore-s-hyman-says-china-a-mess-will-blow-up-at-some-point

        • OGUgly

          Harry Dent, is that you?!?

          • socalbeachdude

            No, but Harry is a very intelligent guy!

  • Phil from Germany

    I listend to the Greg Hunter interview, David Stockman sais this year is when it blows. His credentials for such a call are alot higher than anyone else Ive heard. Bo Polony, take the rest of the year off

  • JC Teecher

    The end of the 10th Jubilee cycle ends on September 20th, 2017.
    In 1217 Judah Ben Samuel made a prophecy, before he died, that the Ottoman Turks would rule/control Jerusalem for 8 Jubilee cycles. 1217 was said to be a Jubilee year, and then exactly 300 years later, in 1517, they did conquer and control Jerusalem for 400 years until….
    they were driven out of the city and the Holy Land in 1917 by the Allied forces under the command of Gen. George Allenby – on Hanukkah, by the way.
    He also prophesied that the Holy Land would become a “no man’s land”, during the 9th Jubilee cycle.
    Under the League of Nations ruling, no one really controlled Jerusalem until the end of that Jubilee period of 50 years, until the Jewish nation of Israel took it over in the Six Day War, in 1967. Coincidence?

    Strangely enough, Judah Ben Samuel also prophesied that the 10th Jubilee would begin the end of the period, and the beginning of the Messianic end times.
    Will there be a financial collapse on Sept 20th, in just a few short months? Who knows, but our Heavenly Father.

    Will my prediction for something big, happen this early Fall, of which I wrote about a while back? I don’t know, but just in case, we are planning and adjusting for it.
    If the end of this last Jubilee Cycle for this Age, is a time when God Blesses or Curses a Nation, based upon its Obedience or lawlessness, then which does this Nation deserve?
    A nation that proclaims to be overwhelmingly, Christian, but continues its killing spree of innocent lives in the womb, has cursings coming, in my opinion. It sure isn’t going to be blessed for the continual breaking of God’s Commandments and lack of heeding the warnings.
    Michael’s years of predictions may well be coming to fulfillment in just a few months.

    • socalbeachdude

      Huh? Jubilees ended many hundreds of years ago!

  • JC Teecher

    Time to go fishing, and listen to Nature a while, ya’ll keep at it. Later.

    • ALWAYSTOMORROW

      Don’t forget to take a quart of green beans with you just
      in case you get hungry. 🙂

    • Andrea Marcelli

      Time to relax. This prevision is be wrong.

    • Zlatko Milanovic

      Right on brother. Sounds so good….

  • Chris Thomas

    David Stockman has zero credibility. He been calling for a crash for years. Of course at some point it’s going happen then he can say I told you so. People have lost lots of money listening to David Stockman.

    • socalbeachdude

      Laughably false. David has been 100% correct in terms of the long term future of the assets in the USA without fail. And the fools are the moronic stupid speculators who have defied the fundamentals that have always been crystal clear.

      • Chris Thomas

        socalbeachdude,

        You should read up on David Stockman and his dealings with Collins & Aikman. He settled with the SEC and payed a $7.2 million dollar fine.

        His snake oil is the money he makes selling books and newsletters while he predicts the end of the world year after year.

        • socalbeachdude

          Ex Collins & Aikman CEO David Stockman to pay $7.2 million to settle SEC lawsuit

          David Stockman, a former budget director in the Reagan administration, will pay $7.2 million to settle a U.S. Securities and Exchange Commission lawsuit claiming he misled investors while running now-defunct Southfield-based auto-parts maker Collins & Aikman Corp.

          Stockman, who was chief executive officer of the company, neither admitted nor denied liability in the settlement, which was made public today in a filing in Manhattan federal court.

          The $7.2 million payment will be partly offset by $4.4 million that Stockman previously paid to settle investor lawsuits. The settlement of the SEC’s allegations against Stockman and four other ex-Collins & Aikman executives ends a case that began with a criminal indictment claiming the defendants intentionally defrauded investors. Federal prosecutors later dismissed the indictment, and the SEC has dropped its claim that Stockman knowingly misled investors. The settlement involves lesser claims.

          “The criminal indictment has been dropped, the knowing fraud claims have been dropped,” Stockman’s lawyer, Andrew Weissman, said in an interview today. “What is left is an effort by Mr. Stockman to get on with his life.”

          The $7.2 million payment is made up of $6.8 million in disgorgement and interest, and a $400,000 civil penalty.

          The SEC alleged in its lawsuit that Stockman, the company and others inflated earnings between the fourth quarter of 2001 and early 2005. Collins & Aikman said in March 2007 that it settled the SEC claims by agreeing not to violate securities laws. The company paid no fine and admitted no wrongdoing.

          Collins & Aikman shut down in October 2007 as part of its Chapter 11 bankruptcy liquidation.

          Stockman served as Reagan’s director of the Office of Management and Budget from 1981 to 1985.

          http://www.crainsdetroit.com/article/20100420/FREE/100429997/ex-collins-aikman-ceo-david-stockman-to-pay-7-2-million-to-settle

  • Midwest Values

    Cannot have this many retail Jobs lost and store closings without a catch up event

  • Andrea Marcelli

    Another countdown! Again this time will prove to be wrong?

    • socalbeachdude

      Nope, it will prove to be 100% correct, and the only issue at question is the specific time frame.

      • Andrea Marcelli

        Really? If it turns out to be wrong, what do you do?

        • socalbeachdude

          Huh? It will turn out to be 100% correct.

          • Andrea Marcelli

            Like the other previous forecasts?
            If it turns out to be wrong you will have to run to hide yourself from shame.

          • Paul Patriot

            Better to be wrong and have to deal with a little pride, shame issue, rather than be wrong and unprepared for the challenges at hand.

          • socalbeachdude

            Huh? Are you that unable to see and comprehend the financial catastrophes which are all over the place in the USA and globally these days? Really? Seriously?

  • phil stein

    Please remind us how many times you “predicted” an imminent crash in the last 10 years in your crazy blog ? At least twice a year so that would put around 20 times. You’re a complete joke…

    • Mugger

      A financial crash is inevitable, its just a matter of when.

      • ALWAYSTOMORROW

        Predictions hold zero value without accurate timing.

        • Mugger

          Once the conditions are set, its a ticking bomb.

        • Waxwings

          If you are insulated from the event its negative fallout, then timing has no value.
          I think I’ll enjoy some cashews, then take a stroll down one of our trails to view moose and a black bear that has been sighted nearby. It’s almost salmon fishing season, I’ll stock up on the abundance of high quality free meat. When the event occurs I’ll hold a cookout and grill some salmon adorned with sweet onions, garlic, butter and lemon.

          • ALWAYSTOMORROW

            Are my wife and I invited? We both like salmon.

            Give me a heads up in advance for it is a 3,614 mile drive to your place.

          • Waxwings

            Yes, you are on notice for mid-June, and yes.
            I suggest flying in then renting a motorhome for self tours. You don’t want to be stuck on a bus with lower energy folks that want to be ushered from one spot to another.
            Red (Sockeye), and King (Chinook) are the first Salmon runs that come in, we will harvest around 45 Reds and one King.

        • socalbeachdude

          False. And never try to time the markets.

    • Richard

      Watch out. He censors stuff he doesn’t like now

    • jox

      we are still in the middle of the 2008 recession. The huge mountains of money created by the Fed don’t let you see the crash, but it’s still there.

      • socalbeachdude

        Actually, we are in the intensification state of the GRAND GLOBAL DEPRESSION which began in August 2007.

  • Chained

    If you are at all religious and follow Bible prophecy then you know what is coming but have no fear because man’s reign and governments is coming to an end and the king of kings and our savior is returning to Earth.

    • Carl

      Allah will reclaim the earth.

      • Carl_Please_GO_AWAY!

        Carl, why can’t you be ‘blocked’? What glitch are you using so as to torment us (another word for TROLL)

        • Carl

          I am using the power of allah and krishna to keep you from blocking me. Praise be.

          • GSOB

            Your an idiot dolt also

          • ALWAYSTOMORROW

            I enjoy his humor.

        • Thunderceptor

          You can’t block a guest account. You can click on anyone that has a grey name and they can’t be blocked.

      • GSOB

        Who is allah?

        • ALWAYSTOMORROW

          Either Allakhazam or Alla Baba.

      • Chained

        Allah is a false God and Mohammed is no prophet but a goat screwing pedophilic war monger.

        Izslum is Satan’s religion.

        • Carl

          Same thing happened in the jewish religion and during biblical times:

          In Biblical times people were married at a very young age. Girls were
          usually betrothed before they reached puberty – majority of the time the
          marriage would have consummated when the girl reached puberty, and that
          was usually between the ages of 8, 9 or older.

          **Rebecca married Isaac when she was three years old.

  • phil stein

    haaa comments are deleted as soon as they highlight what a fake you are… you’re really a looser

    • Zlatko Milanovic

      He does it all the time…

    • Mugger

      Run away from me though didn’t you……..

    • jox

      You trolls keep coming because you have a psiquis condition?

  • Cal

    CALL ON THE NAME OF THE LORD TO SAVE YOU. JESUS SAVES. PRAISE THE LORD.

    • Carl

      Call on the name of allah and you will be saved.

      Call on the name of elohim and you will be saved.

      Call on the name of krishna and you will be saved.

      Call on the name of shiva and you will be saved.

      Call on the name of hu and you will be saved.

      • ALWAYSTOMORROW

        Dont forget the name of ALWAYSTOMORROW.

        • Carl

          If you’re not saved today there is AlwaysTomorrow.

          • GSOB

            Saved from what?

          • Carl

            Exactly

          • HE WILL NOT DIVIDE US

            from socalbeachdude

  • Meccaisbabylonthegreat

    We’re getting ready for a war…. And a big one at that. Several things suggest as much. This coming economic collapse being one, ramping up recruitment and training in the military being another, and the movement of lots of equipment to SK and Europe being yet another. There’s a certain point at which the good ole “PTB” have made their case for going to war and they don’t back down. Typically the point of no return is sometime before they start moving equipment and troops around. Well, we’re far beyond that now, so I’ll leave you to draw your own conclusions. I just wish we could get this ball rolling and be done with it. Frankly society sucks these days and I’m sick of dealing with it. Let’s reset the whole thing and get it over with.

    • socalbeachdude

      Nope. And when has there EVER been a time that the USA wasn’t engaged in multiple “wars?”

  • FadingFiat

    Let it happen already….I’ve been hearing this since the 1980’s, you know that the debt is unsustainable, Japan, (in the 1980’s) then now China would eat our lunch etc. After November 2017 comes and goes the great crash will be early Spring 2018, (for certain!!) and then Fall 2018, and then Spring 2019 and then….. Oh yeah, and AU/AG will be going to the moon shortly, (real money you know) and bit coin and stocks will crash, but…those mining shares will go way up. “Manipulation” (if its even real- who really knows) will surely end shortly as we find hidden gold in the Grand Canyon, or Honolulu, HI, or Yamashita’s or Marcos of the Philipines, or…., And of course “Fundamentals” will rule the day anytime now as…. they just have to because those rascal Banksters have been found out and they will be going to jail any day now……

    • jox

      In your opinion, nothing ever happen, isn’t it? But things happen. In 1973 the US quit the gold system. Since then there have been several bubbles and a huge grow of global debt. The system is not sustainable and will explode. All of this is a monetary experiment, and the QE are the electroshocks you give a dying man. From your perspective is a long period, but historically is a spot on time, less than 50 years. Perhaps it doesn’t explode in 3 years and you will feel proud and confident (as you felt in 207, right?), but be sure it will explode.

      • FadingFiat

        No need to be snippy.. It will someday happen. The point is the USA has a printing press, so perhaps, just maybe the debt is not as important as most rationale, logical people thought? I’m not certain. It will crash…. I believe anyway but only when it behooves our dear rulers to make it crash. Should have happened years ago, by logic. Civil discussions without sarcasm are enlightening and sometimes even interesting.

        • jox

          I’m sorry. Ihad not the intention of being snippy. My English is not very good.

          Perhaps you are right and the amount of debt and paper money is not so important, but I doubt it.

          • FadingFiat

            If english is your second language, I admire your ability. You are better at english than I’d ever be at your language …no matter what it is.

          • jox

            Thank you. I’m Spaniard. By reading this (and others) forums I try to learn the language and also about economics.

        • socalbeachdude

          No, the USA does not have a “printing press” at all and the the US Treasury can’t even create any new money. The Federal Reserve is one of the most conservative central banks in the world.

          • FadingFiat

            The Fed my b conservative but has the ability to print any amount and therefore can’t technically “go bankrupt” per Henry Kissinger and others in various public statements

          • socalbeachdude

            The Federal Reserve cannot print “any amount” of money they want at all and moreover has NO WAY TO PUT ANY OF THE MONEY THEY PRINT INTO THE ECONOMY other than by purchasing assets such as US Treasuries and MBS instruments and the Federal Reserve NEVER ‘GIVES” ANY MONEY TO ANYONE nor does it supply banks with money for lending to anyone..

            Moreover, the Federal Reserve balance sheet operates just like all other balance sheets and they cannot create equity / capital for their own account and their equity / capital hasn’t increased at all over recent years as the Federal Reserve REBATES 94% OF ITS PROFITS EACH YEAR to the US Treasury and that has always been the case.

            Currently the Federal Reserve is operating on EXTREME LEVERAGE of around 72:1 which is the ratio of liabilities to capital / equity and if bond yields spike upwards that will get much worse.

          • Nobleharbor

            and I have a checkbook (somewhere). I can write checks all over the country, all I want… That is until the “Bills” are no longer accepted. Then my checkbook is just embossed, colored paper.
            Pretty sure it really doesn’t matter if I “declare bankruptcy” or not… the point is my Paper will be worthless regardless of what I do.

          • socalbeachdude

            What utter nonsense. US dollars are accepted everywhere in the world in either paper or digital form.

          • socalbeachdude

            False. Moreover, Henry Kissinger never had anything to do with the Federal Reserve.

      • socalbeachdude

        All currencies in the world are fully backed by the current and future labor and productivity and assets of the citizens of their issuing governments. And that is the core problem that the world is now facing as most governments around the world have ESSENTIALLY RENDERED INSOLVENT THE NET WORTH OF THEIR CURRENCIES BY VASTLY OVERSPENDING BEYOND THEIR MEANS and there are severe consequences for doing so.

        The US dollar, like all currencies, is backed by the current and future assets and labor and productivity of the citizens of the issuing government which is VASTLY MORE VALUABLE than some little junk commodity such as gold or silver.

        The so-called “gold standard” was a very brief 60 year experiment from 1873 until 1933 which proved to be a VERY STUPID AND ABYSMAL FAILURE at which point it was thrown into the garbage bin of the most stupid notions in the history of the world and incinerated.

        The gold standard was TOTALLY DISCARDED DOMESTICALLY BACK IN 1933 as that brief 60 year failed experiment was an exercise in utter absurdity and the US economy had totally outgrown any use whatsoever for a little thingy commodity such as gold in relationship to its currency.

        Little niche collectible fungible commodity metals such as gold and silver have NO FINANCIAL RELEVANCE whatsoever in today’s modern electronic currencies and economies.

        The US long used a “silver standard” until that was discarded around 1870 and briefly replaced with the so-called “gold standard” which was totally discarded domestically in the US in 1933 as an entirely failed experiment. No currency can be limited to the production of some irrelevant “thingy” commodity such as gold or anything else when the population of that currency’s country is vastly expanding as was the case of the US by the 1930s.

        Nixon did not “abandon gold” at all. Nixon merely ended the Bretton Woods currency fixed exchange rate agreement which had been in force from 1944 to 1971.

        Nixon had nothing to do with the “gold standard” in the US which had long ago been TOTALLY DISCARDED BY THE US DOMESTICALLY back in 1933 and only a tiny shred of gold nonsense was even left in the form of international bank transaction convertibility which is what was discarded in 1971.

        Artificially constraining the growth of money supplies while the population is growing substantially CAUSES DEPRESSIONS and causes countries to fail economically.

        • Nobleharbor

          Sure… you just keep telling yourself that Mogambo style. Hoard those Bills, and to heck with any plan B.
          You might just consider a “Multi-Metal” (Silver/Gold/Copper/Lead/Brass)
          alternate though…
          You never really DO know.

          • socalbeachdude

            What utter nonsense. The US dollar is the KING OF KINGS and is the only currency in the world that really matters at all in the world these days.

  • randy wellman

    just make sure you got all this stuff

    fire extinguishers,,,,LOTS of them

    night vision

    LED headlamp

    antibiotics will be worth MORE than gold

    motion sensor alarms

    rat traps

    magnifying glass

    fuel

    come-along

    ghillie suit

    high powered binocs

    work gloves

    digging bar from harbor freight

    jogging stroller for hauling things that weigh a lot long distances

    benadryl

    wipies

    brillo pad makes a good fire starter with jumper cables

    a hat for sleeping in….and ALL the clothes you’ll need to keep you warm…and dry….this will require MUCH THOUGHT AND RESEARCH….and testing, on YOUR part.

    bulletproof vest…and helmet

    tourniquet

    DETAILED Maps Of Your Area

    wooden 4×6, or 6×8’s for crossing obstacles(3 feet long)

    peanut butter….VERY important

    folding shovel and saw

    army survival manual

    first aid book… where there is no doctor book

    military 4 part sleep system…protects to minus 30 degrees if you know what to do with it…and at LEAST have the bivy bag part of it in your car in case you get stranded….if you are dressed for the climate you’re in, it might only take that bivy to save yer life.

    tow straps/shackles/chain with pipe for towing

    Antacids

    Anti-diarrheal

    giant channel-lock pliers and crescent wrench

    Books on foraging and how to use herbs and essential oils.

    sandbags

    • GSOB

      The Word of God

      • Carl

        Yes because when you trying to keep the rats from the little stash of food you have the bible will be the perfect thing to use to smash their little heads in. An encyclopedia would be my second choice.

    • ALWAYSTOMORROW

      Let’s not forget some Twizzlers.

  • the ebt economy

    gdp (real number) tracking it’s usual -5/-10,the cooked number gov’t prints out track flat,and with no growth,no demand for the last goin on 9 years forces massive deficit spending (printing) and as dept soars ,without any real growth the ability to service the massive ever rising dept becomes harder and harder ie 2000,2008,2017,ain’t rocket science

  • digitalpennmedia

    Many many many econ and financial professionals come on shows and push books and products of a collapse and have done so for years. The problem is that the real truth to the situation isnt the collapse… its that one cant predict it because its all one big board game of monopoly. What folks miss, or dont understand is that the central banks are a hug financial cartel that create the money supply FOR THE ENTIRE WORLD, and much like when one runs out of money in the game of monopoly more is printed, so too in the real world (absurdity and theft at its finest).
    BofA just put out a study that was buried about the fact that the central banks of each country/region buy into markets and have thus far this year put $1T (trillion) into the markets…but not just markets as in vague terms, but into actually companies as shareholders….Apple and Alphabet (google) being among the top on the list. If one can tell me how Apple can be worth so much money when a large portion of its cash injection via stock offerings is through the purchase of CREATED MONEY (out of thin air) thanks to central bank purchases…well its all fiat.
    If entities control the system and can simply print money and purchase assets and commodities, then we dont have a system we have a legalized counterfitting cartel that is in control of the laws and the armies and as such are above any laws. Its due to this ploy that a collapse cant be accurately determined since no one can know for sure if/when the marginal cost will bottom out for these monetary injections. It is also why we havent seen much by way of all out inflation (though there is some) …but company stock and ETFs for commodities are once again simply printed paper purchased with printed paper…. unless there is an actual audit… it is difficult to know how long this can continue, perhaps until they have printed themselves enough money to purchase all the land and assets they desire.

    • socalbeachdude

      The Federal Reserve does not own any stocks at all and is prohibited from owning stocks by the Federal Reserve Act.

  • Carl

    Now I know where the zombie stories came from: Matthew 27:52-53. So if you like the walking dead and the thousand other zombie movies you can thank your bible for the idea.

    • HeyAHuman

      That passage certainly reads like something from a fantasy show on TV.

  • socalbeachdude

    There is no “free money” in the USA. The Federal Reserve did not loan $4 trillion to member banks in the USA as part of QE but rather PURCHASED EXISTING SECURITIES FROM THOSE BANKS AND DEPOSITED THE CASH PROCEEDS INTO THEIR RESERVES ACCOUNTS INSIDE THE FEDERAL RESERVE where they have always remained.

  • Bear1000

    Well, if this is going to be as bad as they say it is, my way of coping will be to take a baseball bat, wrap it in barbed wire, and bash people’s skulls in. Just kidding (or am I?).

    • rapeurazzzhole

      Why don’t you start by moving out of your mom’s basement. I’d bash your azzzhole in with a barbed wire covered dildoe.

      • Bear1000

        Dude, it’s called a joke. Chill out!

  • Marc

    Our risk appetite has reached it’s max and we are pulling out of our main investment fund that trades in European stocks. It made a good 15-20% in the last year but i am not sure how much longer this run will last. One of the biggest challenges for US citizens if a doomsday type event were to occur will be the change from a very comfortable lifestyle to a very hard lifestyle. Almost 70% of Americans are overweight. Add to that, over 60% are dependent on prescription drugs. If those drugs becomes unavailable, combined with the massive change in reality, most Americans will not be able to cope mentally. I weaned myself off all prescription medication and in January was ‘clean’. It was tough but worth it. Btw – I am not American but lived in Washington state for a year.

  • OGUgly

    Just make sure you are positioned to buy after the feces storm hits. There will be all sorts of things being sold at firesale prices. Depending on how terrible it gets, people may be able to become financially secure simply by selling purified water.

  • Leif Erickson

    Luke 23: 28-31

  • socalbeachdude

    Tesla has never once made any profits and its losses are GROWING ENORMOUSLY with every passing day.

  • Chained

    This is mostly an engineered collapse by the banking cartel to end cash and bring about the one world monetary system and the mark.of the beast. They will.have total control of your finances and life, it’s a slave system.

    • socalbeachdude

      Absolutely and laughably false.

  • Taos61

    If some want a really secure form on money,check out combibars.The size of a credit card,the gold is divided into one gram increments.Break off a bit or two and buy whatever.Gold will always shine.Always has.

    • socalbeachdude

      The only secure form of money is the US DOLLAR.

      Gold has nothing whatsoever to do with money.

      • Taos61

        Or better yet,money has nothing to do with Gold.No fiat currency lasts more than a few hundred yrs.Gold has been around for millenniums.

        • socalbeachdude

          Gold was stable at right around $20 per ounce from 1793 up until 1933 at which time it became just another wildly volatile manic speculative commodity with nothing whatsoever to do with money.

  • nonsense again

    Take out the crystal ball look and see what I see. I see because I think I’m god and want you to be full of fear. No-one knows the future but God. Read the book of Ecclesiastes.

  • CAaT

    This is bunk, the economy is not going to collapse. No matter what kind of evidence someone shows you, no matter how freaking straight up it looks just remember this. It’s B. S. That is all you need to know. The world is not going to end. We are not going to live in Mad Max times unless you live in some 3rd worlder area. Preppers are people ho hate their pathetic life so much that they are hoping for a N.B.C. attack so that they can jump into action and escape their pathetic existence.

    So wha should you do to ensure that tomorrow really does come. You should pray for wisdom and guidance in your endeavor in tracking down and killing muslims.

    • socalbeachdude

      Preposterously overvalued assets like equities (stocks), commodities, and real estate are most certainly GUARANTEED TO COLLAPSE BIG TIME IN PRICE in the coming months and years.

  • Dg4884

    Call it Divine intervention or just reading the right articles. I have been prepping for years now. I don’t have a bunker or anything like that, but just being sensible… I have amassed a year worth of food and medicine. Arms as well. This will be a life ending event for some.

  • Bruce

    What lends credence to his assertion is that the current budget extension runs out in September. The Democrats will NOT give Trump what he wants at that time and he likely may not budge on his list of “I want”. Therefore, a war between the Dems and the white house will result. Consequently, a long government shut down maybe the result. Then the rating agencies play havoc with our Bond and credit ratings. The stock market starts teetering on it’s three legged stool. Then all of a sudden there is turmoil with anything to do with cash, credit, bonds, banks, the stock market, retirements funds, etc.

  • Bruce

    When “NOT” If the great depression (collapse) occurs the PTB (politicians) will be the targets. For centuries they have made the decisions. They have run the country and “THEY” have caused this mess. Not one vote have you or I cast as to the way things should be. Were you asked about the formation of the Federal Reserve? Were you asked about us leaving the gold standard? NO major decision have you or I voted on. So, yes they are responsible and I assure you the misery that is coming will not come without reprisals for them. It will take some time but, without question when families see their own starving, sick or murdered then it’s time for the elite to bear the sorrow.

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