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Now Is The Time – Fear Rises As Financial Markets All Over The Planet Start To Crash

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Fear - Public DomainCan you feel the panic in the air?  CNN Money’s Fear & Greed Index measures the amount of fear in the financial world on a scale from 0 to 100.  The closer it is to zero, the higher the level of fear.  Last Monday, the index was sitting at a reading of 36.  As I write this article, it has fallen to 7.  The financial turmoil which began last week is threatening to turn into an avalanche. On Sunday night, we witnessed the second largest one day stock market collapse in China ever, and this pushed stocks all over the planet into the red.  Meanwhile, the twin blades of an emerging market currency crisis and a commodity price crash are chewing up economies that are dependent on the export of natural resources all over the globe.  For a long time, I have been warning about what would happen in the second half of 2015, and now it is here.  The following is a summary of the financial carnage that we have seen over the past 24 hours…

-On Sunday night, the Shanghai Composite Index plunged 8.5 percent.  It was the largest one day stock market crash in China since 2007, and it was the second largest in history.  The Chinese government is promising to directly intervene in order to prevent Chinese stocks from going down even more.

-Over 1,500 stocks in China fell by their 10 percent daily maximum.  This list includes giants such as China Unicom, Bank of Communications and PetroChina.

-Ever since peaking in June, the Shanghai Composite Index has dropped by a total of 28 percent.

-Even Chinese stocks that are listed on U.S. stock exchanges are being absolutely hammered.  The following comes from USA Today

The 144 China-based stocks with primary listings on major U.S. exchanges have erased nearly $40 billion in paper wealth since the Shanghai Composite index peaked on June 12. It’s an enormous destruction of wealth that in effects wipes out the market value of a company the size of cruise ship operator Carnival.

-The Chinese stock market crash pushed European stocks significantly lower on Monday…

The pan-European FTSEurofirst 300 provisionally closed 2.1 percent lower, while the Germany’s DAX and France’s CAC closed respectively 2.4 percent and 2.5 percent lower.

The U.K.’s benchmark FTSE outperformed its euro zone peers, but still closed unofficially down 1.0 percent.

-Overall, European stocks have been falling steadily since the beginning of last week.  To get an idea of how much damage has been done already, just check out this chart.

-As I mentioned above, an emerging market currency crisis is causing havoc for economies all over the planet.  The following comes from an article that was published by the Telegraph

The currencies of Brazil, Mexico, South Africa and Turkey have all crashed to multi-year lows as investors flee emerging markets and commodity prices crumble.

The drastic moves came as fears of imminent monetary tightening by the US Federal Reserve combined with shockingly weak figures from China, which stoked fears that the country may be sliding into a deeper downturn and sent tremors through East Asia, Latin America and Africa.

-The government of Puerto Rico has announced that it does not have enough cash to make a scheduled debt payment of 169 million dollars on August 1st.  The Obama administration says that there are no plans in the works to bail out Puerto Rico.

-On Monday, the Dow was down another 127 points.  It was the fifth day in a row that the Dow and the S&P 500 have both declined.

-Overall, the Dow is now down more than 650 points since July 20th.

-480 stocks on the New York Stock Exchange have hit new 52-week lows.  Many analysts consider this to be a very, very ominous sign.

-I have repeatedly written about the danger of the commodity collapse that we are currently witnessing, and the Bloomberg Commodity Index fell another 1.22 percent on Monday to a fresh low of 92.1493.

-On Monday, the price of U.S. oil hit a 52-week low of $46.92.

-So far, the price of U.S. oil has fallen about 20 percent this month.

-Back in June 2014, the price of a barrel of West Texas Intermediate crude was above 107 dollars.  Since then, the price of U.S. oil has fallen an astounding 56 percent.

-Thanks in large part to the collapse in energy prices, junk bonds are cratering.  This is something that happened just before the financial crisis of 2008, and now it is happening again.  The following comes from Wolf Street

Among the bonds: Cliffs Natural Resources down 27.6%, SandBridge down 30%, Murray Energy down 21.2%, and Linn Energy down 22.3%, according to Bloomberg.

For example, Linn Energy 6.25% notes due in 2019 were trading at 78 cents on the dollar at the beginning of July and at 58 on Friday, according to LCD. There was bloodshed beyond energy, such as AK Steel’s 7.625% notes due in 2021. They were trading at 62 cents on the dollar, down 22% from the beginning of July.

“The performance is a disappointment to investors who purchased about $40 billion of junk-rated bonds from energy companies this year, thinking that the worst of the slump was over,” Bloomberg noted.

This is exactly what we would expect to see during the early stages of a financial crisis.

Of course global financial markets may bounce back somewhat tomorrow.  If you will remember, some of the largest one day gains in stock market history happened right in the middle of the stock market collapse of 2008.  So don’t get fooled by what happens on any one particular day.

With so much fear in the air, literally anything could happen in the weeks and months ahead of us.  One month ago, I issued a red alert for the last six months of this year.  I warned that a major financial crisis was imminent and that people needed to start protecting themselves immediately.

As I write this article on Monday evening, financial markets are already opening up over in Asia.  Japanese stocks are already down 251 points even though the market has only been open for about an hour over there.

We have entered a time when what is happening to global stock markets will once again be headline news.  We are right on the precipice of another great financial crisis, only this one is going to ultimately end up being much worse than the last one.

Now is the time.

Please get prepared while you still can.

  • Alwaystomorrow

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

    Published 6/25/2015

    158 days until 12/31/2015.

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

    • Drowning in Debt

      Why are you mocking this blog? It contains factual information.

      • Jorma

        Apparently AlwaysTomorrow is going to get eaten by his neighbors when we fall off a cliff and he doesn’t know this yet; as other bloggers pointed out about him yesterday.

      • Alwaystomorrow

        If I told a guy that smokes that based on factual information, statistics, and personal experience that he will die from cancer, eventually I might be right.

        Before he does maybe there will be a cure for cancer. Maybe he will die in a car wreck. Maybe he will outlive me and die peacefully in his sleep.

        That doesn’t make the factual information, statistics and personal experiences wrong or not valad, and yes he should quit smoking.

        No matter how things look today tomorrow they may look different. That doesn’t mean not to monitor them, just don’t let them consume your enjoyment of life.

        I just want to do a count down to show how from one week to the next things change and to show just how little they truly effect us.

        • Leebo Venable

          I personally like the countdown

        • Leebo Venable

          And I never interpreted it as mockery. I too am curious to see what happens the second half of this year so why not count it down. If nothing happens it’s a miracle

        • Drowning in Debt

          Okay some of my friends and family don’t believe me when I say the economy is imploding. Their argument is a lot of analysts have stated that a collapse will happen in 2011, 2012,2013,2014. Well this is a slow moving disaster. Ponzi Schemes eventually collapse.

          • Alwaystomorrow

            “Ponzi Schemes eventually collapse.” When? Tomorrow? Next week? Maybe September this year or March 15, 2029.

            On my way home from work tonight I was scanning through the radio and came across a religious broadcast.

            I listen (and read) things I like and don’t like to get various views.

            It was a pastor by the name of Roloff (I think). For the few minutes I listened I heard him say more than once “Folks, we are in the very last days, I am sure of it”

            When the broadcast was over the announcer said “This message was preached at ? church in 1979.” That’s 36 years ago.

            Believe what you want but DO NOT PREDICT TIMES.

            Prepare as you see fit and live life and enjoy your family.

          • 2smooth

            God Bless Lester Roloff

          • SunnyFlaSnotress

            January 26, 2016 12:35:43 pm EST

    • MichealfromTheEconomicCollapse

      Alwaystomorrow, I must admit that I am having second thoughts as to weather or not I should have put such a short time frame on my prediction.

      • Alwaystomorrow

        The above post from “Michael is not him. It is me, Alwaystomorrow. I did this to show how easy it is to hijack a name like was done to me yesterday.

        • SunnyFlaSnotress

          No Mod badge, but point taken.

  • Drowning in Debt

    Greece was just a little side show. If the world’s second largest economy goes down suddenly look out. This is not surprising though. The free market was snuffed out. Too much government intervention destroys economies.

    • They want to get rid of the entire concept of “Market” itself. There will be no stock market by couple of years, no oil based economy, we will get new technology but our life’s will be far worse. All military, one world government.

      Now a days, its reverse, what they show you in movies is the truth and lies in main stream News.

    • Nemnor

      The worsening economic situation the world over, is due to the natural decay of the world-wide Capitalist system.

      You are deceived into believing that the (main) reason for the economic crises is simply the governments (and/or powerful “elite groups”) working against Capitalism (i.e. because “free market was snuffed out” – as you put it). But this is far from the truth. While governments might get some of their policies “wrong”, the governments are actually controlled by the Ruling Class (“the 1%”), and, believe it or not, the primary task of the governments is to save Capitalism – by any means necessary.

      The main root cause of the major socioeconomic issues facing the World is NOT that “free market was snuffed out”, but rather, it is the Capitalist system itself – which has became decadent (due to reaching a stage of general over-production) and is now at a “dead end”.

      The real and permanent solution begins with dismantling Capitalism, and replacing it with a superior and sustainable economic system that addresses the abundant needs of every “rational” individual (and not just of “the 1%”).

      • GSOB

        Hillary is your wo-man

      • Steve Hansen

        No central bank in a real system of capitalism, and no banks to big to fail (or to jail).

        In a real system of capitalism we would have a lot of freedom and very few regulations! And a lot of possibilities to make our way in life!

        • Nemnor

          ‘Steve Hansen’ and ‘GSOB’, what you are seeing today is a Capitalism in decadence. But, this was always the natural and inevitable ‘destiny’ of the SAME Capitalism of the past (“free market” or not), in a World with a practically and virtually LIMITED “economic pie”.

          It is diametrically impossible to INDEFINITELY have TRUE “free market” Capitalism, for the main reasons that this requires (among other things) – ( 1 ) continuous “expansion” (impossible in a World with practically and virtually limited resource and limited market), and ( 2 ) Human greed to be self-correcting/self-controlling (impossible with the very low moral and spiritual level of the Human Race – as it has been for a very long time now). Hence, Capitalism today is decayed and decaying.

          Now get this – because of the current very low moral and spiritual level of the Human Race and because of the limited World’s “economic pie”, ANY genuinely sustainable economic system, MUST be (initially) ruled with a “rod of iron” (i.e. a dictatorship more or less)., AND also (again, because of the current Human infighting due to race, religion, ethnicity, etc.) a ”One World Government”.

          Hence, without “divine intervention”, the only real and permanent solution is to dismantle Capitalism (through a “dictatorship of the Working Class”), and (among many other changes to be made) reorient the production of goods and services to meet the genuine and abundant needs of society – as the primary end-purpose of production.

          • Steve Hansen

            What we are seeing today is not capitalism at all! Real capitalism don’t need to have expansion, don’t have a central bank, and no companies that are to big to fail.

            And most important – real capitalism have a lot of freedom to the individual people!

            Less government – more freedom!!!

    • Burt Year 2015

      I don’t like money anyway. It belongs to all the rich fat cats.

    • Heinrich van Rooi

      Agreed…World Goverments piled on debt on the Capital Markets after the Financial Crash to bail out troubled Industries and sectors by means of more debt will lead to high growth rates and stability… Only the reverse will happen…

  • We would expect America to be all over China’s misery since that’s what they show us. US and China are on each others throat they say, but look how silent American media is on China’s downfall like a big old brother, not saying much like China is their own family member.

    It shows, how well organised this crash is, Step By Step. They don’t want Americans to get Panicky NOW, If Americans get fear now, the fun will be lost when they do it in America.

    Collapse is coming to America, but they have chosen a date for it. That’s why the silence on China.

    • old fart

      The media don’t have time for facts they are too busy with Rainbow Flags and Rebel flags, our media is a big part of what is happening to the USA. All Empires have fallen, like a Fish they Rot from the Head down

      • SunnyFlaSnotress

        I’m going to show my age w/this one..

        Fish heads fish heads,Roly poly fish heads,
        Fish heads fish heads,Eat them up yum (x2)
        (chorus)
        In the morning,Laughing happy fish heads,
        In- the- evening,Floating in the soup,(chorus)
        Ask a fish head,Anything you want to,
        They won’t answer,They can’t talk (chorus)
        I took a fish head,Out to see a movie,
        Didn’t have to pay To get it in (chorus)
        They cant play baseball,They dont wear sweaters,
        There not good dancers,They dont play drums
        Dr. Demento

  • K

    Considering, part of the reason I got out of the market. Was too little fact, too much opinion. A loss of confidence in this market. Could play a bigger role than it has in the past. In previous down markets, some were buying certain stocks. Why, because they knew the basic economic soundness of the stock.With so much of this market relying on opinion, I almost see a cattle stampede situation.

  • Kurt

    Michael, your last seven words are the most important. People, if you have not prepared yourself for crisis situations then what are you waiting for? There’s a category 5 hurricane off the coast every day you wake up, and it could come ashore at any time. Sadly, the desperation of the unprepared cant be measured.

    • SunnyFlaSnotress

      Damn.. did u get a weather report I didn’t’?
      Just when I thought I could trust the Noaa/Same system.

      • Alwaystomorrow

        Don’t worry. It is going to South Carolina and is only a tropical storm.

        • SunnyFlaSnotress

          whew.. I got to Florida in 2004 and I’ve been have ptsd ever since. Terrible ‘cane year.

          • Alwaystomorrow

            I need to register the name Alwaystomorrow so I do not get impostered again.

          • alwaystomorrow

            oh boy I can’t wait little boy

          • rainmaker

            I also came to the sunshine state in late August of 2004. My area was hit twice in less than 3 weeks. My memories of that time are not fond.

  • G21

    Probably most of this blog’s readers know to prep for emergencies, but Michael’s cry to be prepared is still very timely.
    The bare minimum you should have is –
    – Food
    – Gold & Silver
    – Guns & Ammo
    – 3 Months Cash
    Michael, thanks for all you do to warn people of what’s coming.

    • nevergiveup

      Agree 100%. This site and Michaels writing has helped my family and I. We live in South Africa but and are experiencing many of the same problems as Americans. His articles helped get us prepared. I never thought I would become a prepper, but I am so glad I did.

      • Heinrich van Rooi

        we are SAficans but we must still hope, in a better future,However OUR Goverment suck us BIG Time.(Does OUR Government has a plan if there is a Great Financial Collpase in the world RIGHT NOW….

        • nevergiveup

          Yah Heinrich – they are gradually mismanaging what could have been a great country into the ground through corruption, greed, immorality, lethargy, incompetence and stupidity. And to answer your question – no, I don’t think they have much of a plan for anything except to ensure the top of the pyramid (i.e. politicians, billionaires and other members of the gravy train) is taken care of when SHTF.

        • Billy

          What you are seeing happening IS the plan. none of this is happening by accident

        • Cedrik Thibert

          A better Future starts by complete Economical Collapse :)

          • Heinrich van Rooi

            Dead Right!!!!!Financial Assets will be cheap like and apple an union…Only the dumbest of dumbest will stay away( Psychology of Econonomic Collapse)will fear everyone, the the smart people will accumulate…

      • ShirleyRManley

        Google>>CLICK NEXT TAB FOR MORE INFO AND HELP
        ⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛

      • IsaacLHawk

        Google>>CLICK NEXT TAB FOR MORE INFO AND HELP
        ⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛

    • richard

      I agree, food, gold, silver, guns and a lot of ammo, and 6 months of cash even though I don’t think it will be worth much.

    • K2

      But gold and silver are crashing too.

      • terry richards

        They aren’t crashing naturally, they are being crashed deliberately. It’s all part of the attempt to hold shares and the USD up. When the SHTF, they won’t be able to stop the rise.

        • Rebel

          Amen.

        • K2

          When SHTF who will take your gold when you want to purchase something? Other preppers?

          • Billy

            You will need them to rebuld months later…an economy will arise from the ashes and we will default to our oldest universally accepted forms of money…aka precious metals…yes they will not be very useful early on but later on you will be foolish to have none

          • K2

            Rising from the ashes? This is not a movie.

          • Billy

            if thats all that you took from my reply then god bless you….

      • Burt Year 2015

        We all need to get ready now for the crash before it’s to late. I see Marc Dinger’s nose starting to bend down ward. When it blows off his face the stock market has crashed.

    • Bob332

      And lot’s of prayer!

      • Priszilla

        Why would you need prayer if you believed in god?

        • smooze

          Because God may know what is in our heart but if we don’t ask we don’t receive. Judging by your avatar, if gay rights activists hadn’t “asked” for equal protection for gay marriage, then you folks wouldn’t have it right now. Same concept.

        • Burt Year 2015

          Warren Buffett has A big round head.

        • UAsked

          A simple verse should answer that question:

          Ez 31:11

          I gave it into the hands of the RULER OF NATIONS, for him to deal with according to its wickedness. I cast it aside,
          America is being HANDED into the HANDS of “THE RULER OF NATIONS” for its INSUBORDINATION.
          The “RULER OF NATIONS” is the FALLEN ONE (Lucifer, Satan, Beelzebub) —–
          When that happens – HELL follows with him!!! And NO guns, money etc. will be able to SAVE ANYEONE!!!
          Prayer becomes one’s ONLY RECOURSE!!!!

          • What about 2 Chron. 7:14? There’s a little more to it than prayer!

          • Priszilla

            So? Prayer – aka doing nothing and just hoping that someone else will help is the only alternative left.
            God isn’t there to get you out of your sh** every time you disregarded his rules.
            God gives you gravity and smacks the earth in your face when you trip.
            But when you jump out of an airplane without parachute, nothing can help you and nobody can prevent your death. So, on your way down you can enjoy the view, or pray or say: “so far everything is fine”

          • disqus_q0fJBDaGHm

            I have a genie in a bottle. She was the hottest girl on TV and would do whatever you wished…and no, she doesn’t age!

        • Rusty Brown in Canada

          Why would you put an apostrophe in “lots”?

      • citizen762

        Nothing fails like prayer!
        Get off your knees and get to work!

        • Bob332

          Sorry, you feel that way. God does hear Knee-mail too IF it’s for your good. I agree that you ALSO have to work hard to achieve your goals. Try it!

    • Priszilla

      Don’t forget water. Tampons. Toilet paper.

      • Useless Eater

        Coffee filters and disposable lighters.

    • KCTed

      At least 90 days of potable water. That’s the most important prep. 4/1 gal cases of generic water is a couple bucks at the grocery store. Lasts a long time in a dark place.

      • JustMe

        Have a well dug and install old hand pump~

    • Gay Veteran

      stuff to barter: sugar, booze, tobacco

      • JustMe

        1. Cipro
        2. Amoxicilin
        3. Zithro
        4. Doxycycline
        5. Ampicillan

        • Useless Eater

          Tetracycline

        • disqus_q0fJBDaGHm

          That crap will kill you. Instead use: colloidal silver, peroxide, baking soda, garlic etc. and free yiourself from the medical/pharma mafias

    • Cedrik Thibert

      Well they think it’s a bad thing, Economical collapse is a good thing for humanity.
      It’s very fun :)

  • rainmaker

    This is all making me laugh. The majority of the people are clueless to what is really happening. But it really does not matter. When all is said and done they will still be clueless. Oh, did you hear about the new iPhone coming out in September?

    • SunnyFlaSnotress

      I wish I had the new iPhone.

      • Alwaystomorrow

        It is the vintage version, big rotary dial right on the front.

    • Molon Labe Girl

      Or the latest Kardashian gossip? ….it’s friggin hilarious how dumbed down the populace has become. That’s why I don’t think there is a chance in hell that any of these “problems” are problems at all – just well crafted wealth transfer schemes by the few thinking individuals left on the planet to take more of the resources as insurance.

      You think any of the politicians in D.C. are in the least bit concerned about their kids future? Let that one sink in.

      Watch the movie “Idiocracy” for more information.

      • rainmaker

        The majority of the populace would rather embrace mediocrity. Hard work often pays off after time, but laziness always pays off now.

  • VigilanteCaregiver

    Seriously, getting prepared is vital NOW!

    400 lbs. grains, 60 lbs beans and legumes, 60 lbs. sugar, 20 lbs. of fats (veg oil or shortening is best for long term), 16 lbs dry milk, 8 lbs of salt, 200 gallons water with a way to collect and purify more, and a 200′ X 100′ garden : a basic storage of food for one person.

    Precious metals is great to invest in if so inclined. If you can’t invest in gold and silver, then concentrate on nickels (pre-2008) and copper (pre-1983).

    Protection: pillowcases or cloth bags 17″ x 36″, filled with dry earth, semi-circle formation; place guns, ammo, food, water, first-aid, toiletries, and fire extinguishers inside.

    Make toilet paper with finely chopped plant materials, float mash in water and use a screen to lift and dry in.

    Find a plan online for a methane digester to process feces: human doesn’t provide a lot (livestock provides better), but better than having nothing to cook and heat with. Can run a power generator off it, too.

    Download and print free pdf books and pamphlets “Where There Is No Doctor”, “Where There Is No Dentist”, “WHO Surgical Care at the District Hospital”, “Improvised Weapons of the American Underground”, “Training Handbook of the American Underground”, and Mike’s books (because they’re good), plus “Beyond Collapse: Surviving and Rebuilding Civilization from Scratch”

    Good luck!

  • True Grit

    The Chinese manufacturing machine just got bigger and bigger, they gobbled up most manufacturing world-wide. wiped out the U.S. middle class, drained our economy, loaned us back our money so we could keep buying their crap, and now were broke! we can no longer feed their production capacity.
    They starved their customers of economic life blood.
    They must really be panicking about now. Not knowing what to do or who to copy for their next move. Its funny really. Too bad its cost so much pain to so many Americans who once made a good living
    working in American factories.

    • MeMadMax

      “Who to copy”
      I got a chuckle out of that one, you are completely right.

      But they are indeed copying us on this one(to a point thou), and that is the 1920’s great depression playbook. Which did nothing to break the depression and caused virtual stagnation till the end of WW2 and with the end of the FDR regime…

    • Priszilla

      Wrong. It was the American industry that wiped out American middle class because hiring slave labour in China was much cheaper.

      • True Grit

        Not totally wrong! Your right. Our government,though, paved the way for that.
        My blame includes Industry (for greed), Government, (for stupidity) and China (for unethical, illegal, and unfair trade practices.)

    • SunnyFlaSnotress

      Oh stop.. They did well for the most part because they work hard and American companies bought their goods. You have to remember that they have a multitude more people to take care of. I highly doubt you would want the living standard of the average Chinese person.
      Nobody forced corporate America or Americans to buy their stuff. It’s not funny when good people have hard times.
      Americans are slack in their initiative and uncooperative at this time..That is the crux of our problems.

      • Gay Veteran

        plus no environmental laws and regulations in China

    • Nemnor

      True Grit, now get this – part of the very NATURE of the world-wide Capitalist economic system (“free market” or not) is that – many must fail so that a few might “win”.

      The world-wide Capitalist system is structured such that – when a country is “rising”, it is doing so, often at the demise (great detriment) of one or more other countries. This has always been (and will always be) the true character of the world-wide Capitalist economic system. It is NOT a system that can allow true abundance and growth for everyone.

      Additionally, most Capitalists are “ruled” by greed, to the point that they have no problem kicking American Workers out of a job and shipping the jobs over to a low-wage area of the World. In Capitalism, profits almost always come before people and country!

      • True Grit

        You make good points Nemnor.
        And I agree that Naked capitalism ends as you say: With all for one and none for the rest.
        That is why we have laws with regard to our system of capitalism. When enforced, these laws kept a good balance in our economy for 80 years and if still enforced would still keep a balance. Where we differ is: I believe that governed capitalism does work for the good of all. I’m not sure what you believe. You only bash capitalism (somewhat rightfully) on the fringes and never offer your solution. only words like “true abundance” for all. That’s just a pipe dream!

  • Harbinger

    There is no doubt that we are in serious trouble. The train has already come off the tracks and yet people are determined to continue full speed ahead, regardless of the circumstances. Unfortunately the bell has already been rung and there is no stopping what’s going to happen. October 7th is only 72 days away. After that it’s a crap shoot.

    • SunnyFlaSnotress

      January 26, 2016 12:35:43pm EST

  • Alwaystomorrow

    I feel that I need to apologize to all the fellow bloggers on this site and especially to Michael. I have been annoying by writing my count down blog post. You see, I have never had a girlfriend and I continue to live with my parents. You think you have it bad?! I’m 47 now living at home in my folks basement. I’ve never had any true friends or recognition so I thought that my countdown post would help boost my low self esteem and that I would feel like I had a life. I’m sorry, please I’m asking you to forgive me and from now on I will not be posting my count down.

    • Drowning in Debt

      Sorry to hear you are going through a rough time. I have dealt with the depths of depression myself. What helped me was strengthening existing relationships. You are also well ahead of the game by visiting this site. Thus, it might be a good idea to share what you have learned here with other people. You can help them mentally prepare for what is coming.

      • Burt Year 2015

        Warren Buffett and Bill Gates have all the money. I can’t stand those two guys at all. Warren Buffett is a goofy looking man and Bill Gates is a pretty man.

        • SunnyFlaSnotress

          Austin Powers reminds me of Bill Gates. It may have secretly been biopic.

    • victor

      You were getting on my nerves, but hey, that’s what makes America great, freedom of speech.
      Thanks for you’re honesty.
      I’ve gotten to where I didn’t care at times about life, but my faith in Jesus Christ helps me to realize, God has so much more for us, as we draw closer to him and set our eyes on him. All this will pass away one day, but we can trust His promises of eternal life, and His love for each and everyone of us.
      I don’t know where You’re at in faith, but know he loved You that much to die for You and me, and everyone else.
      Today I was really going to go off on You, and than I see your post right at the top.
      So much is going on here in the world, and our leaders and media just spew out lies to fulfill their agenda.
      This is for real, friend.
      I will be praying for You, I’ll be asking the Lord to make changes for the good for You, Your perception and that You will know it was because of Him and His love for You.
      You have a new friend here, and I’m sure there are many more who are Christian on this sight that would call You friend.
      God Bless.

      • Bob332

        Ditto!

      • Nemnor

        In reality, what made America “great” (especially in the past) are things like – it’s military might and it’s special (and unfair) economic advantages (like the US $ being the major World’s reserve currency).

        You have “free speech” in the USA (and anywhere else in the World), as long as what you are saying has NO significant effect against the interest of the Ruling Class (i.e. “the 1%”).

        For instance, unlike the early “Christians” – who were at one time persecuted by the Roman Empire, if your current “Christian” ideas (beliefs) does not have a true “revolutionary” flavor, and you are not able to influence/incite a mass of people into (revolutionary) action, then you are allowed to shout out your “Christian” ideas/belief, since you are obviously NOT a clear and present threat to the Ruling Class (“the 1%”).

        • GSOB

          Bernie is your man

        • victor

          I think one day here in America, we will see more persecution. Our Christian beliefs will be considered hateful, and go against the grain of secular humanism. The Word of God is light, Jesus is the light (truth). Remember while on earth He told His disciples, no servant is greater than his master. If they persecuted me, they will persecute you also. John 15:20. Because of sin in our hearts, it blinds us and also the god of this world has blinded us, until we seek Jesus forgiveness and redemption.
          Just luck how much more the world has changed in the past 20 years.

    • Avner

      Number of days “alwaystomorrow” won’t be a shill:
      1 so far.

      • Not Sure

        I think his post is a spoof… and you are probably thinking the same.

        • Nemnor

          This is what I believe as well. That this might just be another “game” of his. Time will tell. ( lol )

    • SunnyFlaSnotress

      Don’t snivel like this. Man up!

    • Serpent

      Peace be with you my brother. I too have been extremely down recently, and have not had an easy life. A lot of it I have done to myself. It pains me to think of what could have been…
      I am a bad Alcoholic. I have been better recently but I still have demons stalking me. The time is near, I believe, for extremely bad times. Earth changing. So I will pray for you Sir. Please try and keep your head up. Help your parents out. Be a great son. Prepare for the worst but hope for the best.

    • CharlesH

      I don’t believe a word you’re saying.

    • underaged

      Bummer. I really look forward to your countdown.

    • smooze

      I haven’t been commenting on here long and I don’t know any past beefs with regulars, but am I the only one that sensed the sarcasm in this post? Basically all the replies are “sorry to hear about your misfortune” and whatnot. Or am I missing the sarcasm in their posts too?

      • SunnyFlaSnotress

        If they don’t put /s, you may never know.
        Personally, I fully believe he is a 47 yovirgin.

    • antonio

      You are a good person! You have self esteem, it shows by what you say!

      • SunnyFlaSnotress

        I think he should get a biscuit for his post.

        • Alwaystomorrow

          Garlic flavored biscuit served on a wooden stake with a glass of holy water.

    • Alwaystomorrow

      Imposter. Not me. Countdown conyinues.

      • twisted

        yeah right, we know it’s you.

        • Jorma

          I’m naming my new born AlwaysTomorrow. It’s very original no matter how many people use it.

          • Jorma – maybe

            That blogger is not the real Jorma. The real Jorma lives over in Sweden and I would know, I’m impersonating him.

          • Alwaystomorrow

            Help me Mr. Wizzard.

    • Alwaystomorrow

      Okay. Now the user name Alwaystomorrow is registered with disqus so there will hopefully be no more imposters

      This post was not me…….I feel that I need to apologize to all the fellow bloggers on this site
      and especially to Michael. I have been annoying by writing my count down
      blog post. You see, I have never had a girlfriend and I continue to
      live with my parents. You think you have it bad?! I’m 47 now living at
      home in my folks basement. I’ve never had any true friends or
      recognition so I thought that my countdown post would help boost my low
      self esteem and that I would feel like I had a life. I’m sorry, please
      I’m asking you to forgive me and from now on I will not be posting my
      count down.

      COUNT DOWN CONTINUES.

    • Isaac

      Well, that is a bummer. I figured to see you post another countdown.

      • Isaac

        And I’m sorry to hear you’re facing such a difficult situation. May the Lord have mercy on you.

    • MichaelfromTheEconomicCollapse

      Alwaystomorrow, I must admit that I am having second thoughts as to
      weather or not I should have put such a short time frame on my
      prediction.

      • Alwaystomorrow

        The above post from “Michael is not him. It is me, Alwaystomorrow. I
        did this to show how easy it is to hijack a name like was done to me
        yesterday.

        • alwaystomorrow

          No, it’s from me. I’m the real always tomorrow.

          • OzSurvivalGuy

            Stop acting like an idiot and do some real work, AlwaysTomorrow. We won’t have any sympathy for your nonsense.

  • Helen Riek

    The Jewish year of the Shemitah was historically when all debts were to be remitted. The Shemitah occurred in Sep 2001, when there was a stock market crash, then 7 years later in Sep 2008, when the financial crisis occurred and will occur 7 years later on Sep 13 this year.

    • Helen Riek

      There has been 3 occurrences of a series of 4 blood moons in the last 500 years all of them at dates of significance to the Jewish people.

      In 1492 when Jews were expelled from Spain for refusing to convert to Catholicism.

      In 1948 when Israel became a state.

      In 1967 when Jerusalem returned to Israel.

      Now there is a fourth series of 4 blood moons beginning last year with the last to appear on September 28.

      If/when the collapse happens, there’s a good chance they’ll finally announce world government.

      The Pope is already planned to speak to the U.S. congress on the 23rd of September, which is the Jewish day of atonement and the next day he’ll address the U.N. to announce the post 2015 sustainable development agenda.

      There’s a good chance that the rapture of Christians, could happen at this time and if so, expect it to be falsey claimed to be alien abductions.

      • M.

        There’s no such thing as the rapture. It’s rather peculiar that you claim to love Christ when you venerate the tribe, which has nothing but visceral hatred for Him.

  • Viper

    Always enjoy your articles, but the 52 week low on WTI crude happened on March 17, when crude fell to $43.39 per barrel.

    We are not quite there yet, but I do predict that oil will fall into the $20’s sometime this fall.

  • Hope for tomorrow

    Thank you MIchael for waking me up about this. I have been following this blogg for months, and are so thankful for your work. It can’t be easy to bring this message. I pray for you and your family.

  • Ivor Biggin

    Gay marriage, flags etc is just a distraction so people don’t what is really going on.

    If people knew what was really happening, the people in charge would be in real trouble.

    • SunnyFlaSnotress

      Mother, mother
      There’s too many of you crying
      Brother, brother, brother
      There’s far too many of you dying
      You know we’ve got to find a way
      To bring some lovin’ here today, eheh
      Father, father
      We don’t need to escalate
      You see, war is not the answer
      For only love can conquer hate
      You know we’ve got to find a way
      To bring some lovin’ here today, oh oh oh
      Picket lines and picket signs
      Don’t punish me with brutality
      Talk to me, so you can see
      Oh, what’s going on
      What’s going on
      Yeah, what’s going on
      Ah, what’s going on
      In the mean time
      Right on, baby
      Right on brother
      Right on babe
      Marvin Gaye

      • Burt Year 2015

        The Devil Monster is causing all the problems in the world.

  • Avner

    May we live in interesting times.

  • Priszilla

    Let’s call it market correction and profit taking.

  • Ali Asghar

    Fact is that capitalism is inherently flawed. It only fuels our natural instinct of greed and lust of wealth by making us believe that we need things which in reality has no real added value to our lives. A shirt with a certain brand will be sold 100 times its actual worth and we are made to believe that wearing it makes us stand tall and we look good in it because its a status symbol.

    Spending beyond our means will eventually take the whole system down the drain. But I think it will be some time before it ends. When? no one can tell.

  • Sharleen McTaggart

    As a pastor who has been following this site for the last couple of months, I am grateful for the insight into economic issues that threaten our way of life. This past Sunday I preached a message to our congregation with the general theme “Now is the Time” to be watchful, to be prepared, to hear God’s warnings. I’m presently preparing a Seminar “Warning Signs – of the the times” as I feel called to share with those who seem to be asleep that terrible times are ahead of us. God is giving us His timetable through – Blood Moons, Shemitah Year, Year of Jubilee, The Harbinger and most of all through the Word of God. Being ready is more than just being financially ready – it’s being right with God Ready. Blessing to all who read this column on a daily basis. Sharleen

    • Nemnor

      However, I posit that the only real and permanent solution begins with dismantling Capitalism, and replacing it with a superior and sustainable economic system that addresses the abundant needs of every “rational” individual.

      • GSOB

        And the name of that fantasy is?

      • greyprepper

        Too much zeitgeist…

      • SunnyFlaSnotress

        What do you have against irrational individuals? They have feelings too.

        • victor

          Do You only come out at night?
          Like the fangs.

      • Daddyotis

        Ol’ Nemnor’s a one-track broken record….mmmmm…hmmmm! Tell us, Nemmy: whaddya think of Bush? Whaddya think of the Koch Bros? How bout Monsanto? Tell us what you think. You’re such a mysterious and complicated person that there’s NO WAY I could predict your answers to these queries.

    • GSOB

      All that preaching and no Christ?

      (blind leading the blind)

      • Sharleen McTaggart

        If my post neglected to be very clear as to the place of Jesus Christ, our Redeemer and Saviour, in all of this – I am ashamed and humbled. Thank you for the reprimand – may all those who need to be ready – know that Jesus is the rock – the good shepherd – the light of the world and only in Him are we assured of being truly prepared. Blessings to all.

  • underaged

    Michael, if a stock prices falls and nobody cares, does it make a sound? Everyone knows that Chinese stocks are (have been) overpriced. And the fact that they are falling will impact very few people outside of some communist party members and a few Chinese peasants. The DJIA was down 127 on Monday and so far today it’s back up 90. Looks like the only one panicking is you.

    • SunnyFlaSnotress

      I think he’s got at least 5 more months before everyone can start chanting he’s wrong again on his panic button.
      He’s a baster of suspense.

      • df NJ

        It’s funny how in our command and control economy oil is dropping like a rock. Hmmmm, you can’t lower interest rates to spur growth, what could the Illuminati use next to prevent mass rioting? Do you think the shadow government would allow their distinct position of power of privilege to be threaten by economic collapse? Unlikely.

        • SunnyFlaSnotress

          I think we glutted oil production to suit our own interests. How much it will spur growth aside from the producers is tough to say, though I’m eyeing more of a gas-guzzling vehicle myself.
          Prevent riots.. I don’t think that was a factor, though low gas can be a pacifier.

    • Marco

      The thing about China tho is that they represent a very large user base of resources and materials which are produced here and abroad. Our stock market had done well because China’s has. Not because the exchanges are tied to each other but because when 1/6th of the world’s population is consuming more, it drives the economic engine everywhere. When that economy contracts, it will hurt a lot of other markets. Oil is a good example of that right now.

  • Rufus T Firefly

    Ignore the tinfoil brigade and buy! buy!! buy!!!

  • Burt Year 2015

    Good all the rich fat cats will loose all their money. To you Warren Buffett Bill Gates George Soros Jamie Diamond Ted Turner David Rockefeller and Michael Bloomburg you all are loosing all your money as well.

    • Balambalam

      Ok. So, don’t you have some more constructive things to say to all of us beside your schit you repeat all the time?

    • Gay Veteran

      and the Koch brothers

    • df NJ

      If 320 million people start rioting in madness they will lose more than just their money.

  • GSOB

    “When Pharaoh’s horses, chariots and horsemen went into the sea, the Lord brought the waters of the sea back over them, but the Israelites walked through the sea on dry ground.

    Then Miriam the prophet, Aaron’s sister, took a timbrel in her hand and all the women followed her with timbrels and dancing.

    Miriam sang to them:

    “Sing to the Lord,
    for He is highly exalted.
    Both horse and driver
    He has hurled into the sea.”

    • Although I like the Scriptures, I don’t get the relevance with the topic of the article precisely?

      • df NJ

        I like the teachings of Christ but there’s something just not right with God in the Bible. God in the Bible is not a God of love. God in the Bible is a God of War, master of men. Lord over slaves. It’s just not right. If God’s kingdom in heaven is military outpost then how is that a God worth worshiping? An omnipotent God can destroy Satan anytime he wants. An omnipotent God can rid the World of all unnecessary evil at any time. If we are made in God’s image then how come we don’t have the power of omnipotence? How can we be judge for anything when we are not born with omnipotence and no one knows what it means to walk in anyone else’s shoes.

        There’s just something not right in the Bible. Too much war, too much evil, too much worshiping authority for power’s sake, and simple not enough love. Google “word frequency in the Bible”.

        For example, the most common word in the Bible is “Lord”, which is used with even greater frequency than “God”. Worshiping God is more important than God. “Love” is one of the lesser words in the list.

        • victor

          Look at the life of Jesus, He is the true example of God’s love, mercy, grace, redemption.
          As sin came into the world thru one man, Adam, because of disobedience, God’s restoration, love, came thru the second Adam, Jesus Christ, thru His obedience and sacrifice on the cross.
          Jesus is to be our ultimate role model.
          We as humans blow it, it’s in our DNA as sinners.

      • victor

        I agree, I guess he just felt like declaring the Lord’s power

  • Lex loathar

    Gee. I don’t have much at all in the Ponzi scheme “Stock Market”. I guess I never trusted those slicked down Wall Street boys at all. I’d rather have a junk yard of smashed cars than stocks.

  • GSOB

    What no Christ in all your concerns for the people?
    Wow….
    How removed the message has become.
    Sensationalism now your new humdrum.

  • Theresa Kipper Hall

    I’m wondering if I shouldn’t pull most or all of my money out now – any thoughts or advice?

    • underaged

      My sincerest advice – do NOT take financial advice from anyone on this blog, including its author.

      • Marco

        Absolutely agreed. The problem with most that follow this blog including its author, is that they seek evidence that confirms their pre-conceived notions and disregard all other balancing information. This causes these people to react irrationally. Now I’m not saying the world financial markets are in great shape, they’re in pretty bad shape, but many on here are crying that the sky is falling already when it’s not. This is leading them to dole out advice such as sell everything and convert to physical gold and silver right this instant. That type of response is not commensurate with the level of threat presented to us at this moment. There may be a time for that at some point, but it certainly is not right now.

    • messianicdruid

      Think of it this way: how many 1 ounce postage stamps could a dime buy in 1964? One ounce US postage stamps were 4 cents, so you could purchase 2.5 stamps.

      How many can you purchase now with the value represented by the same dime? I’ll buy 90% silver dimes all day long for 2 bucks! And I’m cheap. How much is a stamp now?

      Gold is a sapling, silver is an acorn.

      • underaged

        Email is free. (Or very, very close to it.)

        • messianicdruid

          Sure. The point is turn your paper money into something that will hold (or increase) your purchasing power in the days ahead, instead of returning to its intrinsic value as wallpaper.

  • Heinrich van Rooi

    With American 2nd quarter GDP out on Thursday they might as well just contracted at -0.1%. That way by defintion means they are officially in a recession… Will have to see and wait… But I MIGHT BE WRONG HERE

  • FreedomFighter2015

    Meanwhile DOW and NASDAQ are still in sinusoidal pattern. Up&down, up&down, up&down, rinse and repeat.

  • Alleged Comment

    GUESS he had nothing to write about today. This is a NORMAL occurrence with the stock market.

  • JustMe

    The most important of ALL!!!

    1. Cipro
    2. Amoxicilin
    3. Zithro
    4. Doxycycline
    5. Ampicillan

    Keep em Frozen….. when the electricity goes out, keep em buried in snow!!!

    Fish Antibiotics can be purchased online without a prescription!!!

    •FISH-MOX (amoxicillin 250 mg)
    •FISH_MOX FORTE (amoxicillin 500 mg)
    •FISH-CILLIN (ampicillin 250 mg)
    •FISH-FLEX Keflex 250 mg)
    •FISH-FLEX FORTE (Keflex 500 mg)
    •FISH-ZOLE (metronidazole 250 mg)
    •FISH-PEN (penicillin 250 mg)
    •FISH-PEN FORTE (penicillin 500 mg)
    •FISH-CYCLINE (tetracycline 250 mg)

  • iguana one

    I think that the central bankers really don’t care if the stock market crashes. They know that whatever wealth they had on paper and in fake numbers really wasn’t there in the first place. it was all manipulated numbers in a Ponzi Scam.
    So, lose they will but in the end they will rob and steal everything real that they can in the fog of the phony collapse and as the sheeple watch with deer eyes in the head lights!

  • FortuneSeek3rz

    This is what stocks do. They go up and down. When stocks decline it helps newbie investors average out over the long run. And what’s more, it is now easier to make a profit from declining stock indices than ever using things like inverse ETFs. The world is your oyster if you simply apply yourself. The times we are living in now afford more opportunity for the individual than ever.

  • SunnyFlaSnotress

    Yeah, I saw that link on Drudge, too.

  • jadan

    What’s to prep for? If the crisis threatens civil order, the gov will take action. We will have a fascist take-over and there goes your guns. If you’re stocking up on food, agents will confiscate it and issue you food coupons. All these camps will house sovereign citizens and other enemies of reconstruction. Forget your own pitiful little weenie. Prostrate yourself before the Big Weenie. Have it tattooed on your face.

    • Useless Eater

      First of all, by definition there is no such thing as a sovereign citizen and you think government is all-powerful? Don’t fear them. It is their job to fear you.

  • Jay

    They will just ramp up the fiat printing and the market will go on it’s way. The Ponzi scheme will continue because it is all manipulated. If it weren’t the U.S. would have defaulted back in the early 1970’s when the combined debt of the Viet Nam war and the “great Society” program had pushed the country into the red. The free market left us with the creation of the Federal reserve and Franklin Roosevelt’s removing us off gold. Since then we have been in a false reality that can be manipulated at will by the powers that be. The only two ways it can collapse is if they will it or infighting among the manipulator causes it. My bet is the 2nd avenue since greed and power are at the heart of it.

  • Rich

    But like the last crisis it will go back up once again

  • GetReal4U2

    thanks for the update…sadly…most don’t even care…but THIS collapse will impact EVERYONE…

  • Cedrik Thibert

    Strange, I am not scared.
    The Economy falling apart is a good thing for humanity.
    It is based on greed, exploitation of workers, human rights abuses and crimes against humanity.
    Just let it crash. ROTFLMAO

  • Cedrik Thibert

    I m eating some pop corn :)

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