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Signs Of Financial Turmoil In Europe, China And The United States

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Earth In Peril - Public DomainAs we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe.  In Greece, a full blown bank run is happening right now.  Approximately 2 billion euros were pulled out of Greek banks in just the past three days, Barclays says that capital controls are “imminent” unless a debt deal is struck, and there are reports that preparations are being made for a “bank holiday” in Greece.  Meanwhile, Chinese stocks are absolutely crashing.  The Shanghai Composite Index was down more than 13 percent this week alone.  That was the largest one week decline since the collapse of Lehman Brothers.  In the U.S., stocks aren’t crashing yet, but we just witnessed one of the largest one week outflows of capital from the bond markets that we have ever witnessed.  Slowly but surely, we are starting to see the smart money head for the exits.  As one Swedish fund manager put it recently, everyone wants “to avoid being caught on the wrong side of markets once the herd realizes stocks are over-valued“.

I don’t think that most people understand how serious things have gotten already.  In Greece, so much money has been pulled out of the banks that the European Central Bank admits that Greek banks may not be able to open on Monday

The European Central Bank told a meeting of euro zone finance ministers on Thursday that it was not sure if Greek banks, which have been suffering large daily deposit outflows, would be able to open on Monday, officials with knowledge of the talks said.

Greek savers have withdrawn about 2 billion euros from banks over the past three days, with outflows accelerating rapidly since talks between the government and its creditors collapsed at the weekend, banking sources told Reuters.

All over social media, people are sharing photos of long lines at Greek ATMs as ordinary citizens rush to get their cash out of the troubled banks.  Here is one example

And if there is no debt deal by the end of this month, the Greek debt crisis is going to totally spin out of control and financial chaos will begin to erupt all over Europe.  But instead of trying to be reasonable, EU president Donald Tusk “has delivered an ultimatum to Greece”, and it almost appears as if EU officials are more concerned about winning a power struggle than they are about averting financial catastrophe…

EU president Donald Tusk has delivered an ultimatum to Greece, claiming the country must ‘accept an offer or default’ at an emergency summit set for Monday – in a last-ditch effort to stop the debt-stricken nation crashing out of the euro.

‘We are close to the point where the Greek government will have to choose between accepting what I believe is a good offer of continued support or to head towards default,’ Mr Tusk said today.

His comments come as Greek Prime Minister Alexis Tsipras warned that his country’s exit from the eurozone would trigger the collapse of the single currency.

‘The famous Grexit cannot be an option either for the Greeks or the European Union,’ he said in an Austrian newspaper interview.

‘This would be an irreversible step, it would be the beginning of the end of the eurozone.’

While all of this has been going on, the obscene stock market bubble in China has started to implode.  Just check out the following numbers from Zero Hedge

As the carnage began last night in China we noted the extreme levels of volatility the major indices had experienced in recent weeks. By the close, things were ugly with the broad Shanghai Composite down a stunning 13.3% on the week – the most since Lehman in 2008 (with Shenzhen slightly better at down 12.8% and CHINEXT down a record-breaking 14.99%).

Under normal circumstances, numbers like these would be reason for a full-blown financial panic over in Asia.  But these are not normal times.  Even with these losses, stock prices in China are still massively overinflated.  For example, USA Today is reporting that the median stock over in China is “trading at 95 times earnings”…

Margin debt in China has soared to a record $363 billion, according to Bloomberg, and the median stock in mainland China is now trading at 95 times earnings, which even tops the price-to-earnings multiple of 68 back at the 2007 peak.

That is absolutely ridiculous.  When a stock is trading at 25 or 30 times earnings it is overpriced.  So these numbers that are coming out of China are beyond crazy, and what this means is that Chinese stocks have much, much farther to fall before they get back to any semblance of reality.

Meanwhile, in the U.S. money is flowing out of bonds at a staggering pace.  The following quote originally comes from Bank of America

“High grade credit funds suffered their biggest outflow this year, and double the previous week (and also the biggest since June 2013). High yield outflows also jumped to $1.1bn, the biggest since the start of the year. However, government bond funds suffered the most amid the recent spike in volatility, with outflows surging to the highest weekly number on record ($2.7bn). This brings the total outflow from fixed income funds to almost $6bn over the last week, the highest since the Taper Tantrum and the third highest outflow ever.”

What this means is that big trouble is brewing in the bond markets.  This is something that I warned about in my previous article entitled “Experts Are Warning That The 76 Trillion Dollar Global Bond Bubble Is About To Explode“.

For the moment, U.S. stocks are doing fine.  But just about everyone can see that we in a massive financial bubble that could burst at any time.  Presidential candidate Donald Trump says that what we are witnessing is a “big fat economic and financial bubble like you’ve never seen before”

Yesterday during an interview on MSNBC, presidential candidate Donald Trump said he has some big names in mind for the Treasury secretary if he wins the White House. “I’d like guys like Jack Welch. I like guys like Henry Kravis. I’d love to bring my friend Carl Icahn.” He also opined on the economy and the stock market, admitting that the Fed has benefited people like him but that the economy and is in a “big fat economic and financial bubble like you’ve never seen before.

Ron Paul also believes that this financial bubble is going to end very badly.  Just check out what he told CNBC earlier this week

Despite record highs in the market, former Rep. Ron Paul says the Fed’s easy money policies have left stocks and bonds are on the verge of a massive collapse.

“I am utterly amazed at how the Federal Reserve can play havoc with the market,” Paul said on CNBC’s “Futures Now” referring to Thursday’s surge in stocks. The S&P 500 closed less than 1 percent off its all-time high. “I look at it as being very unstable.”

In Paul’s eyes, “the fallacy of economic planning” has created such a “horrendous bubble” in the bond market that it’s only a matter of time before the bottom falls out. And when it does, it will lead to “stock market chaos.”

Yes, this financial bubble has persisted far longer than many believed possible, but all irrational bubbles eventually burst.

And you know what they say – the bigger they come the harder they fall.

When this gigantic financial bubble finally implodes, it is going to be absolutely horrifying, and the entire planet is going to be shocked by the carnage.

  • SodThat

    And this is why TPTB are trying to start a race war within the US and a war with Russia/China too, anything to keep everyone focused elsewhere rather than upon those that caused it all.

    • Nemnor

      As the days, months or years pass, the decadent world-wide Capitalist system will feel more and more “compelled” to bring about WW-III to avoid sinking into total economic collapse/chaos. (It was for the similar reasons the world-wide Imperialist/Capitalist system brought about WW-I and WW-II)

      • df NJ

        As if command control economies do not have decadence. The problem is not capitalism. The problem is our government has corrupted our free markets so all we have left is corporate monopolies and cartels. Free market capitalism is still the answer in my opinion as long as government interference is kept to a minimum. We need to break up the large corporate monopolies and cartels if the currency collapsing doesn’t do it first.

        • Nemnor

          China IS indeed a “command control economy”. It is “command and control” (by the so called “Communist” party) over a basic State/Collective/Directed CAPITALIST economy.

          • Priszilla

            Just been in Hong Kong. Their computer shopping mall is overwhelming. I hoped I get a cheaper version of something that was £10 in UK and was bombarded with 10 different versions of that gadget and a tenth of the price for the cheapest one.
            Shops and shopping malls galore plus eating places and cuisines.

          • Nemnor

            China is one of the few countries in the world-wide Capitalist system that is currently with a relatively “better” (stronger) economy compared to the rest of the World in general.

            However, this will also be temporary with China, as the “State/Directed Capitalist” economy in China is ultimately unsustainable – as China is very much part of the decadent world-wide Capitalist system.

            However, a (dangerous) situation that many are not yet aware of is this – the relative “rise” of places like China, Russia, etc. directly translates to the DEMISE of the USA (this could even mean the USA sinking to “third world” status, and there is all likelihood that the World goes into WW-III before this happens).

          • Nemnor

            Also, the relative “rise” of a particular country (like China) directly translating to the DEMISE of one or more other countries (like the USA), had ALWAYS been part of the very NATURE of the world-wide Capitalist system.

            I.e. many must FAIL so that a FEW might “win”. Though the Capitalist economic system was indeed a significant improvement above all previous economic systems, Capitalism (in ANY form) was NEVER about providing TRUE abundance for every “rational” individual. Capitalism is able to function (exist) by providing true abundance ONLY to a relative minority (“the 1%”), while “the 90%” (or so) must necessarily remain at a sub-standard (i.e. less than abundant) level and even with millions living in abject poverty.

      • Nemnor

        Michael stated – “…Chinese stocks are absolutely crashing. The Shanghai Composite Index was down more than 13 percent this week alone. That was the largest one week decline since the collapse of Lehman Brothers…”.

        For those who are not aware, please know that the Chinese economy is basically a form of “state/collective/directed Capitalism”. Though China is sometimes erroneously labeled by some as “socialist” or “communist”, China is very much part of the decadent world-wide Capitalist economic system – which is now at a “dead end” and is NOT able to generate long-term recovery by economic means alone.

        There are those who “bury their heads in the sand” and continue to “believe” (or whish) that “Capitalism isn’t the problem” (as they would say). OR, some continue to pretend that the current US (or World) economy is not basically/essentially a Capitalist economy. Such people are so intellectually dishonest that they would not even accept that we are looking at a DECAYED form of Capitalism – as they vainly try to defend a “free market” Capitalism they imagine existed in the past, and refuse to see that it was the very SAME Capitalism of the past (in what ever form it was) that eventually decayed into it’s decadent forms we see today.

        Anyway… all the major economic issues currently facing the World will only get worse, as the decadent world-wide Capitalist system continue to sink towards total collapse/chaos.

        • chilller

          There is nothing wrong with capitalism in and of itself…it’s what made our nation great. But like anything that has been victim of unchecked lawlessness, lies and deceit…it all falls apart. Enforce the laws and jail the crooks both in banking and political office.

          • DANA

            Yes, capitalism is good and the most fair economic system we have, but it must be paired with a moral society or you will have problems like we are seeing now. The same goes for our constitutional republic.

        • Robert

          You hammer capitalism. Ok, got it. What is your solution? Socialism has not worked efficiently anywhere. France is a bust. The UK is as well. Communism only rewards a few. So what is your solution.

          You continue to use the word “decadent” which is right out of some early communist harangues about the western world. Humankind are decadent no matter what economic system they follow.

          What is your solution?

          • Fabienne

            Socialism is the system of switzerland. While all other nations in Europe are decaying, Switzerlnd still prospers. France isnt prospering becuse it is to centrlly reigned and makes policy for the rich, while switzerland bases on direct democracy and confoederalism which leads to a system where all social stages can prosper. While elsewhere the weiges are stagnating or trembling down, Swiss wages know only one direction: upwards. In all other countries you can buy the policy you want, in Switzerland the people will downvote and screw you if you don’t look for the poors as well. That’s what is missing in the entire world.

          • DANA

            Switzerland also only has a population of around 8 million and is basically homogeneous. The people share a common culture and heritage and are well educated. It’s easy to point to these much smaller European countries and say “wow socialism really works”, but if you look closely and study the projected future, many of these countries are demographically unsustainable. Now throw in millions of different people and cultures, and i’m sure the Swiss socialist experiment would end very quickly.

          • Fabienne

            I must disappoint you, 25% of all swiss inhabitants arent swiss, the ones who hot a passport through living there long enough not included. There are more than 3 Millions Balkan, Indian, German, Italian, Thai and Portuguese people among the Swiss. And still Switzerland is prospering.

          • blue collar dave

            Africans didn’t make the cut?

          • John Byde

            But the Swiss insiste: integrate or get lost. there is none of this multicultural crap. “Multicultural” in Swiss terms means Swiss French, Swiss German or Swiss Italian.

          • Keith Pierson

            Yeah and its the law that every adult be in possession of an army rifle there also.

          • Nemnor

            Fabienne, while Switzerland is indeed in a relatively better (even much better) economic condition that much of Europe (and the rest of the World, in general), Switzerland is still NOT a genuine “socialist” economy, and it is very much part of the world-wide Capitalist economic system (and Switzerland is ultimately NOT sustainable, except if it is able to have a fundamental change away from Capitalism) .

            However, places like Switzerland (and even Cuba for some different reasons) can indeed be “instructive” indication (more or less a glimpse – i.e. a brief, incomplete view or look) of the possibilities and unimaginably vast potentials, of a GENUINE “socialist” economy.

            The problem is that, while the World was/is dominated by Capitalism for the past 500 years or so, the World NEVER had (and probably never could have had) a GENUINE “socialist” economy anywhere, from which we can draw accurate reference and KNOW what works and what does not work.

            The leading Capitalist countries (like the USA, for example) have been doing everything in their powers (even bring the World to war, if they think it necessary) to PREVENT any single country from having a fundamental change away from Capitalism (and especially so, if a country stated their INTENTION to develop a genuine “socialist” economy).

            So, NO one really knows as yet, that genuine “socialism” (and then “communism”?) is the ultimate sustainable solution away from Capitalism. This has to be a practical thing (and “state/welfare” Capitalist Switzerland and/or “state/collective” Capitalist Cuba and/or “state/directed” Capitalist China MAY be seen as partial/incomplete learning and experimental grounds).

            You actually must proceed and practically build genuine “socialism” (if you are able to do so). And this would necessarily involve a degree of experimentation, exploration, discovery and even with some transitory contradictions, and using what we already KNOW is not good and sustainable for the Human Race (and the planet), by looking at the TRUE history of Capitalism and every economic system before it.

          • blue collar dave

            Marxism/socialism has failed everywhere it has been tried. It is an ideology unsuited to humanity.
            The notion that socialism failed in the USSR due to their not being true or genuine enough is ludicrous.
            The ultimate endpoint of all socialist systems thus far attempted is mass death and the gulag.
            So, you say we just need to try again.
            Right.

          • Priszilla

            The first bank was founded in the 15th century. How successful was capitalism by the end of the 1500s?

          • John Byde

            Not quite true. The Swiss referendum is called a “garde a fous” – a guard against the crazies. The extreme right and the extreme left put forward crazy referendums that we the people then turn down massively. Last week we voted by 71% not to tax inheritances. In the UK or US that would have gone through automatically without any popular consent. Switzerland: last man standing!!

          • Nemnor

            Robert, In regards to “solutions”, NO one can pretend to have all the answers, but we can work with what we already KNOW is not good for the Human Race, by looking at the TRUE socioeconomic history of the World. However, please see my post that I relate to the post from ‘Fabienne’ below.

            Now, I believe you might agree that, in general, the type of Parents a Child has, will have a significant influence on the type of adult that Child will turn out to be. Again, NOT always, but in general, Parents DO have significant influence on the type of person their Child will grow up to be. (right?)

            Likewise, if we begin to (systematically) make a fundamental change away from Capitalism, to a sustainable alternative economic system, that change (that new and different economic system) WILL (in general) have a significant influence on the type of Human Beings that grow up in that NEW and different system. (right?)

            Similar (more or less) to how a Dog might be trained by their Owner to be “vicious” OR be “friendly”, I have the faith that the Human individual can be “trained” to function in the best interest of him/herself, and with the knowledge that what is genuinely good for society is often what is also ultimately good for the individual.

            Also, I have the faith that the Human Being will be much less inclined to be “decadent” (i.e. function in any way that brings true harm to self, to others and to the environment), IF we construct a society/economy that addresses the abundant needs of the “rational” individual (and not just of “the 1%”).

          • Priszilla

            So you believe your mass media in regard to socialism and communism.

        • 35wormhole

          so you do want communism

          • Nemnor

            Please see my replies to ‘Robert’, ‘Fabienne’, ‘chiller’, etc. above

          • Priszilla

            Communism will come and there is nothing anybody can do about it apart from total annihilation of humanity for profit.

          • 35wormhole

            then let’s break up the united states and let both our factions go our seperate ways

  • K

    Yes, it appears the edge has been reached. Some Countries have begun to slide over that edge. As to China, wish I could see better pictures of their buildup in the south China sea. China is going to need to distract their people, as their markets crash. A little war in the south China sea, would fit the bill. That is, if the buildup is far enough along.

    • Its all a scam…Stock Markets have never gone above a value called ZERO

  • Bill

    Quite soon many events will add up and — well it will be way to late for any preparation.

    • However, the power still is with us, Stock Market power over us is fake…It pretends…it has any power over us…

      We need to take our power back from all scams in the world like stock markets, central banks etc

  • ByGodsGrace

    And meanwhile the Fast Track Bill has passed the House of Representatives (interestingly enough, the day after the church shooting) and is going back to the Senate next week.

    • df NJ

      How could Obama-trade possibly pass the House since it is controlled by Republicans. This is not possible.

      • Nemnor

        Because the Democrats and Republicans, while they APPEAR like a 2-Party Dictatorship, is really a ONE-Party Dictatorship of the USA.

        Notice that Obama did MUCH of the SAME things he APPEARED to condemn Bush for during his 2008 election campaign.

        Likewise, IF the next person in the WH is a Republican (OR, a Democrat), NOTHING will change in the USA, as the US Capitalist economy continue to decay (relentlessly) towards total collapse/chaos.

        The real (permanent) economic solution for the USA and the World, can NOT be found within the current Capitalist economic system.

        • dean

          you are correct, the best way to control the population is to give them only two choice of which both choices are controlled by the people in power

      • Gay Veteran

        democrats=republicans

    • XSANDIEGOCA

      The GOP is gonna pay dear for that one (but then I am quite sure the RINOs profited handsomely in quid pro quo if you know what I mean…)

    • Gay Veteran

      more “free trade” means a faster destruction of the middle and working class
      democrats=republicans

  • Stock Market has nothing whatsoever to do with humanity, less than 5% play on it controlled totally by the elites. WHY DO WE CARE…IF IT CRASHES?

    They are just shoveling things into our throat nah, life to make it look like it matters if the “economy” ” stock market” crashes…Its just fear.

    The entire stock market paradigm is to take all our resources into a few players hands, while we rest of us fight for the crumbs.

    Lets asks this question…What has stock market even done, when it was stable all these years “our life’s still sucked” …

    Its just an Up & Down scam…. :o)..They succeed because they make a lie, scam so gigantic, huge that people start thinking its real and it matters.

    • df NJ

      “An old English judge once said: ‘Necessitous men are not free men.’ Liberty requires opportunity to make a living – a living decent according to the standard of the time, a living which gives man not only enough to live by, but something to live for.

      For too many of us the political equality we once had won was meaningless in the face of economic inequality. A small group had concentrated into their own hands an almost complete control over other people’s property, other people’s money, other people’s labor – other people’s lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness.

      Against economic tyranny such as this, the American citizen could appeal only to the organized power of government.”

      • Nemnor

        df NJ, and please be aware that “economic inequality” is something that comes NATURALLY and as an INTRINSIC part of ANY form of Capitalist economy (be it “free market” or not).

        The old English judge was simply describing what NATURALLY and inevitably takes place in a Capitalist economy.

        AND, it was the SAME “free market” Capitalism in the past (or what ever form Capitalism had in the past) that eventually decayed into the decadent forms we see today.

        It was that SAME “economic tyranny” (by and from the Capitalists) that “compeled” Governments (who tried to do a little bit for the people) to “intervene” (to react) – even to (vainly) “save” Capitalism from itself!.

  • df NJ

    I’m okay with 10 to 20 percent corrections. But the US military is out of control. NATO advance is backing up Russia into a corner. Our war ships off China are confrontational. Our egotistical generals are playing with fire in my humble opinion.

    • Gay Veteran

      but…but…we’re exceptional!

      I can think of another country that thought it was exceptional, things didn’t work out well for them

      • Quetzol-43

        Muuuuurica!

  • GetReal4U2

    But these are not normal times.

    nuff said…get ready…September approaches quickly…

    • darius

      Whats gonna happen in September?

      • chilller

        Good question…many believe Jade Helm is being assembled for marshall law for the chaos which ensues from a financial collapse or false flag event. Rumors of an astroid strike and the shamita that comes in September.
        Lots of dead end road signs pointing to Sept….who knows what it holds for all but those in the know have bad vibes…

        • Raymond Chow

          What is a “marshall law”? Is this a law created by a former supreme court judge of the same name? Or is it named after the former chief of staff named marshall that save berlin in the 1950’s known as the marshall plan? Or do you mean “MARTIAL LAW” which means military rule and curfew declared?

          • lincolnlincoln2

            he meant Marital law, like when our wives beat us up side the head with a broom

        • Quetzol-43

          Asteroide strike and economic collapse the same month? The Obama administration cannot be accused of being an evangelical christian one.

          The banks send the market down every 7 years in order to control it, no matter how rigged the system is, bubbles must burst sometime.
          With the 7 years cycle, you know what is going to happen, the bankers have a schedule of operation like clockwork.

          • Keith Pierson

            Wrong!

        • Keith Pierson

          That’s baloney chilller, get back in the freezer.

      • SunnyFlaSnotress

        I don’t think this will wait for September
        But I don’t expect the sky to fall either

      • greyprepper

        Nothing. Every September is the same, they’ve been doing this for years.

        • Keith Pierson

          grey pepper you speculate, and you are wrong!

      • David_R59

        The end of this Shemitah year and the start of the Jubilee year. (13/September)

      • Mondobeyondo

        Autumnal equinox on September 21.

        No, seriously… I get what a lot of people are saying. About the Shemitah year and so forth. I do think there’s big time trouble ahead.

      • 2guest2

        Absolutely nothing will happen.

        • lincolnlincoln2

          ding ding ding ding

      • alan

        Christmas sales.

      • Arizona

        GO TO THE PROPHETS,they been warning about the crash of america for years,THERE ARE SEVERAL ON THE INTERNET RIGHT NOW,but not much longer, the LORD is calling them home here shortly.and HES TOLD THEM SO………….

        • DeathToTyranny

          What a crock of shieza!

        • Keith Pierson

          Go back to Egypt!

      • none

        The best time for a collapse!
        At the end of summer, people will start to stay indoors.
        Then transferred easily to the streets after losing everything.

      • Elyse Dorm

        End of September is the fourth blood moon, which falls on the Jewish festival of New Year, this is coming year which starts at the end of September is called the Jubilee of Jubilee’s its a really special year, which means there will be very important changes that will impact all the countries.

    • Gay Veteran

      October approaches quickly

      • John Byde

        I know, right after September. Scary.

  • df NJ

    One year +120%

    SHCOMP:IND

    SHANGHAI SE COMPOSITE4,478.36-306.99-6.42%-3.85%+120.97%03:29:35

  • rat28

    Nasdaq just hit record high. Putting money in the US stock market is a flight to safety.. With turmoil around the globe, the US is still the best place to invest.

    • Nemnor

      Until it becomes painfully obvious that, ultimately, there is NO truly “best” place to invest (hide) your money.

      The USA is (of course) also part of the decadent world-wide Capitalist system, and the continuous decline of the USA will be one of the (main) “straws that break the camel’s back”

      • Nemnor

        Also, look a little harder and you will see that there is one place that is even “safer” then the USA to invest (hide) money. That particular country was MUCH LESS affected (compared to the USA) by the deepened economic crisis of 2007-2008.

        The reason this particular country is “safer” is because almost no one is talking about it – as it is one of the “SECRET” “safe haven” where the US “1%” is putting some of their money.

        However, there will come a time when there is NO “safe” or “best’ place to invest (hide) money as the system continue it’s relentless decline.

    • Dean

      the problem is most of you have been brainwashed by the media etc. Saying capitalism is the problem is like saying guns are the problem. It is a great way to put the blame on an object instead of the person. The fact is no government works because man is evil. Without God, evil is running rampant. Our country found out a long time ago that money is evil. Our congress has learned how to use to position to get rich. you want to try to turn things around, limit the congress to two terms where they cannot get in bed with every person willing to line their pockets. Ask Al Gore, and Hilary how profitable being inside the group is. Our country is going under and there is no way to stop it. Quit blaming things that are not the problem, look in the mirror. We are to blame for allowing
      our corruption to run rampant in our government. This country was founded on the concept of for the people, by the people. The people are walking zombies, to busy to look up or get involved. So, we must rise up, revolt, and put things back into order. However, they made sure this cannot happen by putting us into so much debt that we are slaves to the system. Slavery is alive and well. Be prepared, the currency is going under soon and all your money will be worthless. God bless, Dean

      • DANA

        I agree with a lot of what you are saying and have felt the same way. We’ve taken our blessings of freedom, liberty and a free market system and corrupted them with our sinful nature. What i’m basically trying to say is that freedom, liberty and the free market didn’t corrupt us, we corrupted it!

    • Mondobeyondo

      Ha ha. Ha ha ha. Heh. Hee hee!
      Surely you jest.

  • jakartaman

    SO – IT Starts!

  • XSANDIEGOCA

    The wealthiest 400 Americans have more wealth than the entire bottom 50%. Are things out of whack? Just a little?

    • df NJ

      I think it is much more worse than you have shown. If you google “Wealth Inequality in America” I think the video shows the numbers are actually worse than your perception.

      • XSANDIEGOCA

        I would not doubt it. I am retired now and very glad of it. When I was coming up, a man or a woman could make their way in this World. It is much more difficult now. Increasingly, what counts is not how hard you work but what womb you fall out of. Kirk Kirkorian, an up from the bottom entrepreneur, recently passed. No schooling. No connections. Just a big pair of brass ones. Could he repeat that today? Maybe, but it would be much tougher.

        • df NJ

          I will answer you on the main thread.

  • df NJ

    What is going on in the World? How did it become so crazy?

    The Rothschilds control 75% of the major central banks. Russia, China, Syria, Iran, and a few others are all that remain under their own national sovereignty. Make no mistake about the end game which is one World government, one central bank, one currency all serving the Rothschild’s monarchy.

    The last thing Rothschild Z ionists want is so much tumoil they cannot get their daily cheese danish and Baluga caviar. This will be controlled chaos. I doubt we will see a nuclear war. But we will see an attempt by western forces to achieve the balkanization of any country not under the fold.

    The Greater Isreal Project and what has happened in Iraq is the model for the coming chaos. Strong governments will be replaced by weak regional powers. Eventually the World bank will come in and “save the day” from the chaos and restore a weak government. Except this time the government’s currency system will be a branch of the world central bank.

    “The occupation of the Sunni regions of Iraq by ISIL is a cataclysm from which the Sunni will not recover for a generation or more.”

    If you study counter insurgency the first thing the occupiers do is create a terrorist organization, commit unthinkable atrocities under a false flag, and then sit back and watch the people destroy each other rather than the occupying force. ISIL has guaranteed one thing. Iraq will be in civil war for at least another generation or more. This is what the goal will be for the remaining nation states not part of the NWO and the one central bank.

    The United States is an interesting case. Our government is the easiest to subvert and take over with the least amount of blood shed. But right now as we speak there is a building recognition that our country’s government is now being controlled by foreign interests. It will be very interesting to see if our Constitution and our military personal’s oath to our Constitution will be enough to restore our Constitutional government. So far going on 15 year it hasn’t happened.

    There’s a lot of contempt for the intelligence of the American people. It may be there’s a good chance the people in the military are unable to figure out what has happened. JFK warned the American people about the power of secret organizations within our government. All a patriot outside the military can do is hope and pray our cherished Constitution is restored before it is too late.

    What I find just astoundingly amazing about 9/11 is with all four jet plane crashes there were not large amounts of jet plane parts seen on TV at the three crash sites. Every other jet plane crash location I’ve ever seen on TV you always see the jet engines, wheels, seats, and tail pieces. The power of cognitive dissonance is just amazing.

    • Nemnor

      It is mainly our White Racism (i.e. our White Racist who recognize that US Capitalism is working in the general best interest of the White Race), the general ” dumb·ing down” of the American public and the many distractions from the major media networks, that is is helping decadent Capitalism to sustain itself (for the time being) in the USA.

  • chilller

    The total elimination of what has compromised this country due to the rampant, infectious disease and addiction called greed would be a good start….stocks and bonds must go. They only benefit the wealthy who skim profits and enslave workers.
    Where’s Elliot Ness and James Bond when you need them…?

    • Nemnor

      Notice that in virtually every James Bond movie, the actions of James Bond is ultimately to protect the status quo.

      James Bond was NEVER a character to protect the “enslaved workers.”

  • CharlesH

    Like a big rock thrown into the middle of a lake. I don’t own stocks or have anything to do personally with Wall Street but when this goes down, I’m going to be affected just like everyone else by the huge ripples that sweep over the nation.

  • df NJ

    I am more optimistic. The spirit of rebellion is alive and well. Every generation in history has faced it’s own destruction. Our age is no different than any of the ones before it. The powers that be had total control over the distribution of history and propaganda prior to 2000. Then came along the internet. No one predicted how fast and how much energy the people of the World would put into the Internet. The Internet is the most powerful anti-propaganda system on the planet. You can’t stop the human spirit. Nothing will stop the power of copulation. Life will find a way.

    The harder the people of the World are suppressed the greater the snap back. The World will be rejuvenated again by another ground breaking disruptive technology like the Internet has been. My intuition tells me LFTR or LANR/CECR are possible candidates capable of changing the World the way the Internet did. I think LFTR has the better bet since the Indian government claims they will have a working power plant by 2016. The Chinese are spending billions with thousands of researchers and will have a working reactor by 2018. Imagine a world where a city can spend $200,000 and buy a LFTR generator and power a small city for practically nothing. Thorium is as plentiful and easy to mine as lead. Lead is pretty cheap. Lead is everywhere. Thorium is everywhere.

    Another candidate would be 3D printers destroying the Walmart model of product distribution. Imagine a World where you don’t go to Walmart to buy a toaster but download a cell phone app to build one. Cell phone apps are cheap.

    And even further, combine 3D printers with engineered protein production and you eliminate the super market food distribution model. Just like cakes of Tofu, there are ways to make Tofu like cakes that taste just like beef, chicken, and fish from raw organic materials. Localize or private food production will destroy the power structure.

    I got nothing for clothing. But maybe there will be a new way to engineer cloth and combine it with automated clothing printers. How cool would it be to Photoshop your own clothing decorations before you print your shirt.

    “The more you tighten your grip, the more star systems will slip through your fingers”

  • Cal Wayback

    I recommend you accept Jesus Christ as your Lord and Savior and prepare for departure.

    • SunnyFlaSnotress

      Some like it hot.. Hell sounds good :)

      • GM

        You fool.

        • SunnyFlaSnotress

          To heck with blonds.. the damned have more fun.

          • Annoyingandlovingit

            crazy

      • David_R59

        Be careful what you wish for…

      • Mondobeyondo

        Different strokes for different folks…

    • GM

      AMEN! Marantha!

    • Mondobeyondo

      Amen! Cleared for takeoff!

      • something tells me”take off” will not happen when you expect it. I believe we will not be immune to persecution in the first 3-1/2 years.

      • alan

        Your grounded!
        Now get back to work and pay your bills.

  • Richard O. Mann

    Tis interesting times to be alive.

  • Keith R. Starkey

    Yup, September approaches! This one ought to be the grand-daddy of them all!

    • 2guest2

      Sorry but it will be like every other September in the past; nothing will happen.

      • Plextt .

        He will bump his mind on the same brick, year after year; that is what loads my wallet.

      • wisdomseeker

        How are you so sure of that when all evidence points otherwise? Sept. 2001 brought about the collapse of America’s symbol of financial pride, the twin towers! Seven years later, Sept. 2008 again brought another crisis with the Dow plunging 777 points! Seven years later, here we are in 2015 with the whole global financial system so over-leveraged and filled with cheap debt. The Fed is on track to raise rates in… you guessed it, September. Lets see how well that works out after Seven years of unconventional monetary policies like QE and ZIRP. This whole thing is experimental and unprecedented in the history of humanity! Welcome to the New World Order! Coming to a city near you very soon!

      • Nemnor

        Even if nothing “special” or exceptional happens in September or any particular month (and NO one should be miss-guided by the pseudo reality coming from the Shemitah Cycle “mystics”), slowly and surely the decadent world-wide Capitalist system is relentlessly sinking towards total collapse/chaos.

  • Mondobeyondo

    It’s only a matter of time before it all falls apart.

    Duct tape won’t fix this financial crisis. Sorry.

  • daniel lee morgan

    The thing about china is, the mass amounts of money, the average chinese , and other more sophisiticated types, have invested there ! All in, for the hope of easy gains! cheap products!, All brought to you by indentured servitude! I guess it doesn’t matter to you, when you are winning at the casino , when you feel you can never lose!! Until lady luck pops your balloon!! And every body elses to boot! I remember all the talking heads , talking about ‘”being decoupled from the U.S.” But I don’t think, the rest of the world will be able to keep drowning with them! Since the whole world has so much , invested in them! And vast sums to lost! And just like the titanic there aren’t enough lifeboats!

    • Nemnor

      To say the same thing differently (from you), it is the entire decadent world-wide Capitalist system (including China) that is now at a “dead end”, and is sinking (like the Titanic) towards total collapse/chaos.

      The real danger facing the world is that the world-wide capitalist system will likely bring about WW-III, before sufficient people become aware that – Capitalism itself – is the main root cause of the major issues facing the world.

      • daniel lee morgan

        Pray tell , what , economic system , has the answer! They” all” are controlled by men in fancy rooms! Who delight in their power over, all!

  • DJohn1

    There is a Chinese Curse from olden times.
    “May you live in interesting times.”
    China is the most successful capitalist nation on the planet right now.
    Everyone owes them money.
    Including us.
    There is a catch.
    If they go to war with us they lose everything that we owe them in the way of debt owed. All their assets in this country are forfeit. The government confiscates it all. All their businesses are confiscated.
    As long as they do not go to war and maintain trade relations with this country that will not happen.
    But take the military talent for putting their foot squarely in their mouths it is possible they might sink a U.S. Navy ship defending Taiwan.
    That would be the “excuse” needed to declare war on China.
    China has strange bed partners. Their relationship with Russia for instance comes to mind.
    Russia controls the land between China and the Bering Strait. That means Chinese Armies have to travel overland and then bridge the Strait in order to put massive numbers of Chinese troops on North American Soil.
    I see a situation where Russia allows them to cross their lands in return for regaining ownership of Alaska. The Chinese would then take over Canada.
    Fantasy Fiction or reality? Hopefully it is fantasy fiction . . .
    Both countries are terribly vulnerable because of the vast land mass and the small populations.
    So the question becomes is it worth it to the Chinese to attack the United States with a neutral Russia sitting on the sidelines ready to take over Alaska.
    Is Canada prepared to fight massive numbers of Chinese Troops invading South into Canada?
    The obvious answer is to bomb the living daylights out of the Strait before they can cross. Then you risk war with Russia.
    It is a combination strategy between the Russian Chess thinking and the Chinese game of Go in which surrounding your opponent with massive numbers of troops wins the day.
    When millions of people are starving then the government will be overthrown in China. Chinese Proverb: “He who feeds China, rules China.”
    The four horsemen of Revelations infamy are likely to be just around the corner if any of what I have said is true.
    The problem with a crash of the proportions described is that we too will suffer the consequences of the government’s actions. Anyone dependent on Social Security, Welfare, and industrial pensions is terribly vulnerable if a crash does occur.

    • Nemnor

      DJohn1, some of us are so “US-Bias” that we do not (or would not) also see the real possibility that it is the USA that will CAUSE/TRIGGER a war with China or Russia, etc.

      The US has NO intention to pay (and is not able to pay) China the money we owe to China, so there is a REAL possibility that the US is actually looking for ways to CAUSE (initiate) a War with China, in the similar way the USA is provoking Russia with the Ukraine issue – to “force” a division between Russia and the major European countries.

      • DJohn1

        Only from the standpoint that Pearl Harbor was our fault. We knew in advance that the Japanese were going to invade Pearl Harbor and did little to prepare for it.
        Rather FDR suckered them into invading giving us cause to go to war.
        It did not come out until years later that he had over 24 hours notice of what was about to happen.
        Well who is being suckered now? Because it looks to me like China is being suckered by their military commanders and us.
        GIving just cause for a world conflict with China on one side and the rest of the world on the other. I suspect Russia will remain “neutral” like we were “neutral” until Pearl Harbor.
        Capitalism is a game board. Only it is played over multiple generations. The original players long being dead. Each player inherits the money from their parents and is educated in top institutions to play the game.
        We, on the other hand, are simply pawns in the playing.

        • Gay Veteran

          Russia and China are now de facto allies. Both know that the U.S. wants to rule the world and that they stand in the way of that.

          • DJohn1

            The U.S. has been ruling the “free” world for a long time. The “free” world after world war II was bankrupt. So Foreign Aid was given in dollars to these countries. Then everyone began doing their deals in dollars instead of the local currencies. This put the dollar on top.
            Insane? From the standpoint of economics I think it was. We were on top.
            Now China is on top. Russia is near bankruptcy. China, if the truth were known, is also near bankruptcy despite the turn of goods to everyone.
            The nearest we came to bankruptcy was 1971. Nixon started the change from a gold backed dollar and introduced a Chinese trade agreement that brought cheap retail goods here that American manufacturers could not compete with.
            The result was a general devaluation and inflation of the dollar.
            I wonder how long the alliance will last after we are gone?

    • Flippah

      If SS, Pensions etc go there will be no jobs it will be Healter Skelter.

  • Ranger

    Normalcy Bias consumes the public, and they do not believe nor will accept that anything can go wrong.

    Our Foreign Masters are in full control, and the American Public is only concerned about the Kardshians, American Idol, Dancing with the Stars, and Dog the Bounty Hunter.

    90% of the nation has no idea how our monetary system even works.

  • Alleged Comment

    Yeah, been saying the CRASH WILL BE HUGE. NONE like it because the world has never been like this before.

    So bad it will be people will accept the Beast and False Prophet as their GODS!

    But he will turn on them and bring in the TRIBULATION.

    • Nemnor

      You state – “…NONE like it because the world has never been like this before..”.

      This is so because the decadent world-wide Capitalist system had never been at the decree of DECAY it is at currently. AND, things will only get worse as the World continue to “hang on” to Capitalism.

      • Alleged Comment

        LOL! We empowered communism, socialism and Moslems because they are helpless without US. Now it is rearing it’s ugly head.

        You are right. We should of have never done that.

  • wisdomseeker

    Sept. 2001 brought about the collapse of America’s symbol of financial pride, the twin towers! Seven years later, Sept. 2008 again brought another crisis with the Dow plunging 777 points! Seven years later, here we are in 2015 with the whole global financial system so over-leveraged and filled with cheap debt. The Fed is on track to raise rates in… you guessed it, September. Lets see how well that works out after Seven years of unconventional monetary policies like QE and ZIRP. This whole thing is experimental and unprecedented in the history of humanity! Welcome to the New World Order! Coming to a city near you very soon!

    • Avner

      The FedRes can’t raise rates, plain and simple. They do it’s game over for them. They can’t just keep them at zero indefinitely either… the dollar right now has been undermined. War, poverty, and hell will follow.

      • df NJ

        Rates rates and banks become insolvent when house prices plummet.

    • df NJ

      Since 9/11 it feels like the movie Shaun of the Dead. It’s funny how zombie movies are so popular. Whatever happens in our future this will probably be a pivotal year. The Fed might be able to get another year out of this walking dead economy. So it may not be this September but 2016. It just seems popular sentiment is always off by a bit.

      • Flippah

        Every year it’s not going to be this year but next year. Live a good and joyful life and quit letting these rats scare you all to death. We will all die and be judged so live everyday pray against jerk aufs who attack you.

    • Flippah

      666 coming to a forehead of right hand near you.

      • wisdomseeker

        Precisely! The only way they can force a new world order is to willfully crash the current economic system then force it upon the masses. People will be desperate for a stable economic system so they will have to accept it.

  • alan

    I read Greece has the ability to print Euro’s with a “Y” code for Greece. So they could simply print the amount owed and ship it to Brussels in a few dozen UPS trucks.

    • df NJ

      If you look at the Y from different angles it vibrates.

  • Priszilla

    August is vacation time and school holidays. Parliaments are closed as well. No news from them over that time.

    THEN SUDDENLY in September kids go back to school and parents back to work and get overwhelmed by the information accumulated. THEY PANIC.

  • alan

    Down turn started about 7 years ago.

  • Arizona

    WILL america see it coming,no I doubt it,$25.00 for a loaf of bread,eggs at $12.00 a dozen,and YOUR money is only worth .10 cents on the dollar,YES the government is about to SCREW YOU into the dirt,and you’ll be lucky if you don’t starve to death,unless your rich,and they won’t fare well either,NO welfare,SSA checks,401-K’s GONE,retirement checks that are not ever coming again,YOU BETTER LEARN about farming,YOUR about to return to the 1840’s,and MILLIONS of americas will starve or be killed in the WAR…..GET CLOSE to the LORD NOW,you may be LEAVING SOON..and YOU DO NOT WANT THE LORD to say to you, LEAVE HERE, “I NEVER KNEW YOU”………….

    • df NJ

      I already live in New Jersey. I’ve seen worse.

  • Corey Price

    Don Trump is a windbag. I wouldn’t quote him for anything other than a WWF wrestling match.

    • df NJ

      Donald Trump is awesome! He’s very entertaining to listen to. He doesn’t have to spend 10 minutes thinking about what he’s going to say next is proper to the poll testing. He just speaks his mind. Plus he’s already a billionaire so he’s not beholden to any lobbyists.

      • Avner

        Notice he also doesn’t have a teleprompter..

        • df NJ

          A big plus. Everyone here in NJ thinks he has no chance. But I think he’s got a good chance. He has a good combination populist rhetoric and real world experience. He’s not the best on conservative social issues but I think he could be swayed by the party in their direction.

          • Avner

            Personally I’m of the opinion he won’t get any nomination. The RNC has their mind made up at this point and damn the voter. However, it’s important to people like Trump to hit em and hit em hard to show even more people how fake and illegitimate it all is. Of course, depending on if there is an election……

          • Joe

            If the national news media has there way they want Hilary as our next president.

          • df NJ

            There’s no way Hillary will win the nomination. Just like in 2008 at some point the mud will start sticking. And this time there’s even more mud.

  • John E

    Sure the economy could implode in September because conditions are ripe and the Fed-Bank-Gov’s central planning has manufactured the conditions. BUT this assumes that actual market forces will drive what anyone can see is inevitable at some point in time.

    Our economy is anything but market. It is a fully engineered and central planned pump and dump operation. Of course wall street is a conglomeration of greedy casinos and ponzi schemes, but they are not the only players. The New York Central Bank and Whitehouse are in bed with Wall Street for their own benefit and part of that is political advantage.

    I am going out on a limb here. THE ECONOMIC COLLAPSE WILL BE TRIGGERED BY AND TIMED FOR POLITICAL ADVANTAGE. This will not be done by the invisible hand. The hands are quite visible and evidence is that they are crooked as a dogs hind leg and too inept in business and economics to protect even their own interests. The early warning signs of the fincinial crisis will be finger pointing and blame games jacked all over the state run media at election time.

  • Birgit

    Donald Tusk is the President of the European Council. Jean-Claude Juncker is the President of the EU (European Commission).

  • df NJ

    The CEOs might start raising wages because they find it in their hearts to love their workers as human beings. And once wages start going up people will start having enough to make ends meet and pay off their debts. More customers with money will create more jobs. And life will return to the good old days. Or, maybe we will see the second coming of Jesus Christ. The second coming of Jesus Christ is probably more likely.

  • Steve

    Go away Nemnor, you and your useless lectures on communism and capitalism…blah blah blah. Oh shut up. You’re ruining this blog…

    • df NJ

      Still better than any of your comments. Who’s Nemnor?

  • Gay Veteran

    “…The beginning of the end began in 1962 when the Supreme Court voted out volunteer prayer in public schools….”

    is your religion so weak that you need the government to promote it?

    btw, how many unwanted children have you adopted?

    • guest

      You’re a one trick pony.
      Just a bitter, disgusting little thing, ewwww.

      • Gay Veteran

        thanks for contributing to the discussion about financial turmoil

  • Dennis Wilson

    “…  and He rose from the dead on the third day”

    Ahhh. NOW I understand the source of all this Zombie talk!

  • 2guest2

    you are insane
    you need to be medicated if you believe that

    • wisdomseeker

      Ok then answer the following questions with clear, reasonable and logical answers. 1. Why a live webcam is pointed at his tomb? 2. Why not a webcam for any
      other pope’s tomb? 3. Why has this not been done before in history? (with the exception of a lack of technology) 4. Why
      are there daily prayer rituals held at his tomb?

      “The simple are destroyed by lack of knowledge and pure ignorance”

      • Flippah

        The False Prophet and Beast are already alive and will manifest at the appointed time.

    • Flippah

      What are you a F/K (n) communist?

    • Flippah

      Everyone should be medicated with God’s healing herb.

  • lincolnlincoln2

    on 9/14/15, everyone should run around naked and the world will be saved

    • Spozroads

      and when you hit the coast.
      keep runnin…

  • Antonio Ossa

    WAYYYYYY TOOOOOOO MUCHHHHHH DRAMAAAAAA!

  • Forgiveness!!!

    Okay idiot alert asking a question!

    Why are trade agreements bad for the U.S.?

    Will TPP give Obama too much power?

    Feds can’t raise rates, right?

    Will the dollar collapse by loss of petro dollar status? Or by euro nations defaulting? Like Greece!

    Will China be the next superpower?

    Any other questions I should ask or knowledge that will scare me like derivatives!…… How are derivatives dangerous?

  • Kevin B

    The sooner the collapse comes the better. US women who control the economy have NO idea what is coming…

  • Heinrich van Rooi

    If no deal is strike soon get ready.. Financial chaos will implode and this time it will be erractic.From everything to bond markets through to stock markets( actually the stock markets do very good the last few months although we have declines recently) and then we can see oil markets dip as well..

  • Kevin B

    Time to default… :)

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