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Stock Prices Have Fallen For Six Weeks In A Row

Well, it's official.  U.S. stock prices have fallen for six weeks in a row.  So will next week make it seven?  The last time stocks declined for seven weeks in a row was back in May 2001 when the "dot-com" bubble was bursting.  At this point, the Dow has declined by approximately 5 percent since the beginning of June.  Things don't look good.  So exactly what is going on here?  Well, it is undeniable that the recent mini-bubble in stocks has been too good to be true.  The S&P 500 had surged nearly 30 percent since last September.  Much of this has been fueled by the Federal Reserve's latest round of quantitative easing, but now that is coming to an end in a few weeks and investors are a bit spooked.  Meanwhile, wars and revolutions are sweeping the Middle East, Japan is dealing with the damage caused by the tsunami and by Fukushima, Europe is trying to figure out how to bail out Greece again and the U.S. debt crisis is continually getting worse.  In addition, wave after wave of bad economic news is certainly not helping the mood on Wall Street.  In many ways, a "perfect storm" is developing and many are now extremely concerned about what the rest of 2011 is going to bring for Wall Street.

QE2 is slated to conclude at the end of June, and many investors are deeply disappointed that it does not appear that we are not going to see QE3 right away.  Many fear that the end of quantitative easing will pop the current mini-bubble in stocks and commodities.  At the moment, financial markets are more jittery than they have been in a long time.

Frank Davis, director of sales and trading with LEK Securities, says that there is a lot of pessimism on Wall Street right now....

"There's a lot of emotion in this market at the moment, and the conversations among traders are nearly all leaning toward the bear side"

So what are some of the signs that this downturn on Wall Street may turn into a full-blown crash?

Well, according to the Wall Street Journal, junk bonds are being sold off at an alarming rate right now.  Does the following quote from the Journal remind anyone of 2008 at least a little bit?....

A steep decline in prices of bonds backed by subprime mortgages has spread through the riskiest segments of the credit markets, ending rallies in high-yield corporate bonds and commercial real-estate debt.

Also, many of the big Wall Street banks are already laying off workers.  In a previous article I wrote about the potential for Wall Street to go into "panic mode", I noted that Goldman Sachs, Bank of America, JPMorgan Chase and Morgan Stanley are all laying people off or are considering staff cuts.

The truth is that the big banks on Wall Street are not nearly as stable as most people think that they are.  Moody's recently warned that it may downgrade the debt ratings of Bank of America, Citigroup and Wells Fargo.

Another major story on Wall Street right now is oil.  OPEC recently announced that oil production levels will not be raised, even though the price of oil has been hovering around $100 a barrel.

World oil supplies are very tight right now.  In fact, the globe actually consumed 5 million barrels per day more oil than it produced during 2010.  This was possible because the difference was apparently made up by drawing down reserves.

But if oil supplies are this tight already, what is going to happen if a major war (as opposed to all of the minor wars that are already happening) erupts in the Middle East?

The world is sitting on the edge of a financial disaster.

It is important to keep in mind that Europe is also in far worse financial condition than it was just prior to the financial collapse of 2008.

It is being reported that German finance minister Wolfgang Schaeuble is convinced that a "full-blown" financial meltdown by Greece is a very real possibility. The cost of insuring Greek debt has soared to a brand new record high, and officials all over Europe are in panic mode.

But financial problems are not just happening in Greece.  The largest bank in France has just cut in half the amount of cash that customers can withdraw from ATMs each week.

Most Americans don't spend much time thinking about the financial condition of Europe, but the truth is that what happens in Europe is going to play a major role in the months and years ahead.

Of course most Americans already know that the U.S. government is a financial mess.

As the "debt ceiling deadline" of August 2nd draws closer, the U.S. government has been raiding retirement funds in order to stay under the debt limit.

Many investors are quite nervous about what may happen if the U.S. government actually does start defaulting on debt on August 2nd.

Others claim that the U.S. government is already in default.

The only Chinese agency that gives credit ratings on sovereign debt says that the U.S. government "has already been defaulting" and the Chinese government has been repeatedly warning that the U.S. needs to get its finances in order.

In any event, this debt ceiling drama will get resolved one way or another.

The bigger question is this....

How is the U.S. government going to respond when the next financial crash happens?

Back in 2008, the Federal Reserve and the U.S. government took unprecedented steps to prop up Wall Street.

But can they really do that again if we see another major crash in 2011 or 2012?

Many believe that things will be totally different this time around.  Just check out what Jim Rogers recently told CNBC....

"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.

"When the problems arise  next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around."

Jim Rogers is right about that.

The next time we see a collapse on the scale of 2008 it is going to be a much bigger mess.

Global financial markets are extremely vulnerable right now and there are a whole host of potential "tipping points" which could push them over the edge.

The Federal Reserve and the U.S. government more or less used up all of their ammunition on the 2008 crisis.

If we see another collapse in 2011 or 2012 there is not going to be much of a safety net available.

The entire world financial system is simply swamped with way too much debt.  The world has never seen anything even remotely close to the gigantic mountains of debt that have been accumulated around the world today.

The current global financial system is not sustainable.  More crashes are inevitable.  A lot of people are going to get steamrolled.

Hopefully you will not be one of them.

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  • DownWithLibs

    I have heard this week that Europe is asking the U.S. to help bail out Greece next time. Not sure how true this is, but nothing would surprise me at this point.

    • mondobeyondo

      You want the U.S. to bail out Greece? Or the European Union for that matter?

      Not gonna happen.

      In the words of that famous sage, Flavor Flav..(of the 80′s rap group “Public Enemy”)

      “I can’t do nuttin’ for ya, man”.

      • DownWithLibs

        You don’t have to tell me twice. (or even once, for that matter!)

  • Abia The Cat

    The Great Depression that hit the USA back in the 1930s actually started in Europe, if I remember it right. So, I’m watching for Europe to fall over first then the USA. The old domino effect. Thank goodness I can hunt and fish and grow a garden if it gets as bad or worse than the first Great Depression.

    • mondobeyondo

      Can’t say for sure. The Depression, at least in the USA, started on October 29, 1929, when Wall Street fell through the floor and into the basement.

      If you’re looking to the USA to save Europe (again).. well. Sorry, can’t do it this time around. We are too busy trying to save ourselves.

      • Steve

        Actually, the depression started in April, 1930. After the crash in October, 1929, the markets came roaring back and surpassed the value they held prior to that crash. The April, 1930, timeframe was when the bottom really fell out, “floor to basement”, as you say, and the country went through 12-15 years of economic hell because of social programs being paid for by the US government. If the economists simply let the economy run its natural course, it’s estimated that the Great Depression might have lasted less that two years. Of course, we have a president and congress that wants to implement more of the same types of programs (the Fed chairman is a Great Depression “expert”!), so there’s no telling how long GDII will last…

  • Somon

    The sooner the US economy collapses the better, so fasten your seat belts

    • McKinley Morganfield

      Somon,

      I agree. The sooner the better. The longer we wait until the inevitable contraction the deeper the hole we must eventually climb out of. If the powers that be succeed in putting off the contraction for 5 or 6 years we risk a collapse into another dark age. I’d rather our grandchildren see a renaissance in their lifetime than our great-great-great-great-great grandchildren.

    • BigM

      Yyyyyup!

    • John

      Yes you have a point. The current system is beyond repair and rehabilitation.

      Let if fall and pray for the safest transition possible.

  • http://www.tellusyourjoke.com Harold Crews

    I don’t know if anyone has heard of this but interesting things are afoot in China.

    http://ca.news.yahoo.com/china-ratings-house-says-us-defaulting-report-054309883.html

  • Maria

    People of Greece,

    Anax!

    Your victory is at hand! Have courage and fight against those corporate bankers who are stealing your country! Do not accept their loan trap…it is only meant to enslave you…not help you.

    Be strong Greece! The banker criminals believe that you are weak. Show the world that you are not afraid to stand up to these tyrannical bankers! Take back your country!

    Anax! You are the tip of the spear!

    The whole world is praying for your victory!

  • Maria

    I don’t know how many Greek people if any read this website, but here is a link if anyone cares to contact one of the many Greek newspapers (some are in English) as I have. Help the people of Greece fight against the banking takeover by letting them here our voices of support!

    http://www.onlinenewspapers.com/greece.htm

    • Portuguese Man

      “banking takeover” has started many years ago, Before WW2. American Banks are at the top. Learn something reading about Bildeberg Club.

  • Maria
  • Steve

    Arguably the biggest news of the year: The USA has already begun to default on its debts!!

    Folks, we are just weeks away from the collapse. Buckle up!

    http://content.usatoday.com/communities/theoval/post/2011/06/china-says-the-us-is-already-defaulting-on-debt/1

    http://content.usatoday.com/communities/theoval/post/2011/06/china-says-the-us-is-already-defaulting-on-debt/1

    • mondobeyondo

      Naturally, the cynics will say, “Impossible! The U.S. will never default! We are the most powerful nation on earth, with the largest economy. Our dollar is the world’s reserve currency, our military kicks butt…”

      Yeah, right. Every empire in history has fallen. The USA is no different.

    • Kalen

      This isn’t exactly a default in the literal sense. Technically, we made all payments on time. It’s just that we paid it off with useless money thanks to that QE crap and other mismanagement issues that devalued our dollar. But yeah it’s definitely a sign that other countries are getting fed up with us.

  • JoblessUS

    Meanwhile, most Americans are watching new celebrity gossips, and America’s got Talent.

    • omer

      good shows though :P

  • Gary2

    I have nothing in the stock market and could give a rip about it.

    I long ago had to cash in my meager 403B to eat and pay my mortgage.

    Sucks to be poor.

  • mondobeyondo

    Your stock broker or financial planner will tell you, NOW is the perfect time to invest in the stock market!!

    Hee hee.. hee…… hee.

    • mondobeyondo

      June 10th, 2012.

      “Aw, %*@&@!! I just lost a fortune on my 401 (k)”

      Hey – if the government hasn’t confiscated your 401(k) by mid-2012, and re-allocated it into “Treasures”, you are lucky.

      Watch your steps, people.

  • HerrLT

    We are living in a very momentous time in history. As much as I wish I could go back in time and prepare more, myself and everyone on here are right where they are supposed to be. I do my best to be right with God every day and tell others who I think may listen what is headed this way.

    Sadly, most do not want to listen. This life we live in now is the matrix: a proving ground for our roles in eternity. Do the right thing, help others when you can, and ride the storm. I’ll be white knuckling my AK the next few months it looks like…

    • John

      “Do the right thing, help others when you can…”

      Does “doing the right thing” include mowing people down with you AK-47?

      Just wondering. I guess I missed that part in The New Testament.

    • morpheus

      Don’t give up!

      FIGHT THE CAUSE – NOT THE SYMPTOM
      OsiXs (Revolution 2.0)

  • McKinley Morganfield

    Some great comments to this important article…

    Yes, Greece will be the straw that breaks the camel’s back. The panic will start when the Greeks revolt and the big banks in Europe have to swallow all of their Greek bonds. US banks also are going to tumble because of their over extended portfolios. Its tulip mania time once again.

    And as noted above, China has fired 2 warning shots across the bow.

  • http://www.planorperish.com/ Gutter Economist
  • mondobeyondo

    Just a thought… (one of many – being unemployed, I’ve had plenty of time to think, hee!)

    The average McDonald’s Big Mac maker or McNuggets/McBiscuits/McCocaCola counter person, can not afford a 30 year home mortgage. Therefore, they are unlikely to purchase a home. They may be able to rent a house, with a roommate’s help. Maybe.

    Even if you do own your home free and clear (by some miracle)… you still have to pay property taxes. Wanna know what happens if you don’t? Well, try it sometime, and you’ll find out for yourself in a year or two. Hey, I thought “free and clear” meant no further financial obligations. Wrong-o!!

    Keep flipping those burgers. Lots of hungry teenagers out there. Hell, at least you have a job. You’re in a better predicament than I am at the moment.

  • Ken

    Maria:

    By “stand up” do you mean riot? While I agree the big bankers are corrupt, Greeks are not victims. They voted themselves massive entitlements and early retirement and are now complaining because their government is collapsing under debt. There is not more persnonal responsibility

    • Rowell

      Many Greeks simply choose not to pay taxes. The government has been lax in enforcing tax payments. How can a society, with so many perks and entitlements, expect to stay solvent when a large portion of the population refuses to pay their fair share.

  • prepare

    What would all of you suggest to a newcomer on how to prepare for what is coming?

  • Ken

    That’s the “Clinton-dot-com” bubble.

  • 007

    Stocks, commodities oil, gold and silver are about to go substantially lower in the short run. When QE2 ends and with the Europe debt crisis, the dollar will rise ( as amazing as that seems). This will cause the market and commodity bubble to burst. They will go lower substantially lower in the short run and set up an ultimate excellent buying opportunity.

    So if you are invested in the market or these commodities get out of this leaking life boat. Time to get into an equally ugly lifeboat of holing your investments cash, close and secure.

    Sure inflation will eat away a little at your cash for a few months. But you will be well situated for tremendous buying opportunities after these latest bubbles burst.

    Eventually, Bernanke will start QE3 because he has no choice. The EU will likewise print Euros to bail out the PIGS because it has no choice. When this happens it will be time to get back into the first sinking life boat you left. Only this time limit any investments to gold, silver, oil, commodities and survival supplies. . The stock market will be a disaster by them. Gold, Silver and oil are going to ultimately then go much higher.

    These things are going to happen. A blind man can see it in a moment. it sucks we have to pick between leaking lifeboats where to place our savings. However, as we are living in extraordinary times, we are also facing extraordinary opportunities to profit if we keep our heads.

    Good luck everyone. Welcome to the Obama Depression.

  • KB

    China says??? Since when are we listening to what China says as gospel truth?? I personally don’t remember them ever telling the truth…only what they want you to believe.

    Nothing has value unless you believe. Anything can be given any spin, so if you believe the Chinese rhetoric that we have already defaulted by allowing the currency to devalue, then you are making it true.

    Yes, the whole world is imploding, but it’s because of total manipulation and greed. But if I was planning any course of personal action, it would never, ever be based on what China says.

  • Dr. Nancy

    Everyone please store up food. That’s what I’m doing. The other thing I’m doing to prepare is following the recommendations here:

    How You Can Profit in Spite of Today’s Economic Crisis –

    Watch This Free Video Now:

    http://www.theelevationgroup.net/capture.php?a_aid=160667&a_bid=e6b01db8&chan=y528

  • laura m.

    First of all I like the variety of little icons (faces) next to the comments. Joblessus: I agree people are wrapped up with celebrity gossip, the little girl in Fla. murder (news frenzy) and Weinergate. This country is down the abyss into Hell and damnation with zero hope and zero future..Amen to that said. And I’m glad I’m a retiree instead of a younger person with no future in general.

  • Parmalat

    If the Euro zone falls, the US will fall even harder. The Euro zone is the US main trading partner and probably the only hope of re-establishing financial equilibrum, considering the huge deficit.
    One exit, the way I see it – is to eliminate offshore jurisdictions. If we lift the curtain off these jurisdictions, nobody knows how many thousands of billions of $ we can find (and nationalize).
    All the money that was around 5 years ago could not have been vanished! Corporate scum externalized them in offshore jurisdictions and then they told ordinary people “there’s a financial crisis, there’s no money, you have to cut spending”.
    But will corrupt politicians accept to take action against offshore jurisdictions? Will it be done only at the demand of the street? Do people understand where their money are right now? It’s a difficult situation.

  • POKER BLUFF
  • Steve

    The Debt Ceiling will NOT be raised. Repubs want $2.5 trillion in cuts before agreeing to grant $2.5 trillion raise in the debt ceiling. They fought like cats and dogs in early April just to slash $38 Billion off the 2011-12 Budget.

    You think they’ll get together to quickly slash $2.5 trillion. NO WAY. They just took a vote and it got rejected 318-97 with not one single Repub voting to raise it and even 100 Dems rejecting it.
    Shocking as it may be, the August 2nd deadline will come and go and the debt ceiling will not be raised. We wll default even more than we are now!
    The collapse is assured before September 1st!

    It’s all over folks. ALL OVER!

    • Charles Dunn

      I think this is when they will start taking our 401k plans and going around taking peoples gold and silver. Just a thought.

  • RunVampRun

    The gig does seem like it is up….(and unlike all the so call news stations, I am not talking about the Anthony Weiner’s fiasco!)
    It really is going to be interesting to see how so many of our fellow American’s cope with the looming depression. Unfortunately we live in a world that is currently addicted to “convenience” and those people are going to suffer greatly once the feasibility of there lifestyle is no longer viable!

  • James

    In the Bible it mentions a concept known as, “Year of Jubilee” during which all debts are cancelled. This occurred every seventh year. So, why don’t we take advantage of this? I am sure everyone in their right mind would go for this.

    • Grumpy

      Can’t be done with the current (debt-based) monetary system, as canceling all debts would destroy the entire money supply. This would result in a complete loss of control over peoples and nations by the supposedly-elite banksters, and they would never allow that to happen.

  • Grumpy

    Iceland told the banks to get stuffed, and Greece may well do the same. Do the people of the rest of the Western world have the same resolve to stick it to the banksters the way they’ve been sticking it to us (and the rest of the world) for the last century?

    I hope so, but I doubt it. So many ignorant fools (at least in the U.S.) think that “taxing the rich” or “taxing the evil corporations” is the answer, or that a specific politician (D or R, not that there’s a fundamental difference) will sweep in and fix everything. There are structural flaws in our political/economic systems that can’t be fixed with a band-aid – they need to burn down so they can be rebuilt without all the garbage they’ve been loaded up with over the last hundred years. Taking power away from national governments (especially the power to use taxes to implement unrealistic and unworkable social policies, to create empire-building and maintaining armed forces, and to micro-manage every aspect of each citizen’s life) and taking the ability to determine the value of money away from the banks is a great place to start.

    • McKinley Morganfield

      Couldn’t agree more Grumpy. Bring it all back home to your local community. *&^% the powers that be who want to borrow money in the name of the America people to give it to the Greek government which is in trouble because it borrowed too much money. Life is not a mutual suicide pact!

      You may find this of interest:

      http://www.youtube.com/watch?v=swkq2E8mswI&feature=related

      • Grumpy

        McKinley, I’ve seen it – good, solid info. Thanks for the link anyway! ;)

  • mondobeyondo

    It’s not so much that this country doesn’t have challenges. Oh do we have challenges these days. It’s that the sheeple are too docile to rise up and conquer them. Not only that, we’ve even lost the desire to explore and discover new things. But we still do some things well though, like dropping bombs and missiles…

    “We choose to go to the moon! We choose to go to the moon in this decade, and to do the other things, not because they are easy, but because they are hard…” – John F. Kennedy, 1962

  • jose puta

    so what’s your point? stocks go up and they go down, just like everything else. This is not news but fear mongering.

  • Faux Gary

    Let’s just tax everyone and spread the wealth around. Problem solved. Duhhhhhh….

  • mark

    I do not play in the stock markets. I have worked hard to save for the future. I am interested in watching the market and it sure looks fixed to me. The big computer traders step in to stop the slides and buy to prop up the price of the DOW. I like tangible things that I can hold, not pieces of paper that traders and brokers save themselves first and then give you whats left. This bubble is complements of the thin air money fron Uncle Ben that the rest of us are paying for with the destruction of the dollar. Food is a good investment today while it is still cheap. Prepare to take care of your family and neighbors. Grow a garden each year. Get out of debt. The other day when the police state of California smashed in a family’s door looking for the mother that owed money for schooling. What was the State going to do with her if she was home? Are we starting debt prisons? California is broke and they want to spend more to put folks in prison? This is what happens when you let government grow and is run by faceless bureacrats. We end up a slaves to the bureacrats that have the power to enforce their rules. This is what will happen if the progressives continue to consolidate power.The bureacrats have made so many rules and regulations that companies will keep relocating out of the US. Look what the Obama cartel is doing to Boeing. If Obama wins here they will have to relocate out of this country to be competitive. Someday China will start producing aircraft and price out union workers in the US and Europe. We will have a misalocation of money or crony capitalism. The next phase after the crony capitalism will be a police state with the economy mostly controled by the state. An economic collaspe will trigger people to cry out for order and you will loose your freedom to do what you wish in exchange for food controlled by the bureacrats. If enough people prepare this can be stopped if we have our own food and say no thanks to them. So prepare people for hard times so you are in a position to protect the future for our children.

  • Edward Gein

    The Revolution will NOT be televised. When the poop does hit the rotary oscillator, the news won’t cover it. Oh sure, they will show some gang violence and police action here and there, but they won’t be showing the masses of slowly starving people building up in the cities. Martial Law won’t be an obvious switch being pulled, the Police State will be a slippery slope and it will all be “for your protection”. It isn’t too far off now. Like this article says – they are out of ammo. There is no ‘reboot’ to be had. The whole house of cards is about to come fluttering down. Time to grab ‘Patriots’ and ‘One Second After’ and read all about how bad it is going to get.

    It is never too late to start packing the basement full of canned goods and supplies. Keep quiet, trust no-one, and don’t stand out. Those who survive will be the people who never show that they have so much as a candle to their name.

  • Just me

    JoblessUS
    “”"June 11th, 2011 at 1:39 am · Reply
    Meanwhile, most Americans are watching new celebrity gossips, and America’s got Talent.”"”"

    Exactly what the Powers That Be want, A country full of Zombies that don’t have a clue about what’s going on in the real world

  • grimreaper

    yeah, i guess that “our beloved” Eu will fall fisrt.about damn time !Economical diferences between poor and rich countries(it would be like to compare germany or france with romania or Slovenia), “constitutional laws(lisbon treaty and maastricht treaty) being overriden by EVERY single monetary subdivision of Eu parliament and each country by it self.Huge debts(spain 1.2 tril, italy 2.0 tril €), high unemployement, waaay more expensve gasoline than you have(1.3€ per litre, or transfered to gal. 5+ €..), inflation above “official” 2.5% etc.I guess that WHEN(not IF or maybe)Eu falls, it will make Domino effect adn drag USA down too.Not that you fare any better ;) , just saying. Itwould be wise to get ready, because SHTF will soon be here.Either will it be MAJOR(rapid global meltdown of economy) or gradual downfall of entire western/eastern economy.in each case, the result will be the same.good luck in future to come.
    With best regards from Slovenia

  • I’llNeverTell

    Somon says, “the sooner the better.” I suppose he thinks he’s well prepared. We have many traitors to thank for this gift. Wilson, Roosevelt, Carter, Clinton & Clinton, Bernankie & Geithner, and the non-Federal non-Reserve, even quite possibly the British Royal family and the Bank of England. Our population has been so busy smiling and nodding at the television they couldn’t make time to understand the truth of things. The true definition of “whore” is someone who trades away their honor for personal gain.” When you let your country be entertained, educated, and run by whores you can’t expect a good outcome, now can you?

    • Rhinehart Fox

      I think you nailed it. Our leaders are chosen with the same discernment as applied to American Idol. We have allowed ourselves to be dumbed down to the point where very few people understand our system of government and finance at all. We send our children off to be educated (a.k.a. brainwashed) at expensive ivy league schools only to move back in with their parents because they cannot find employment yet very few question the viability of the whole system. No wonder we elect ‘flashers’ to office and think that we can borrow our way out of debt. If people spent one tenth as much time monitoring their elected representatives as they do following major league sports, this never would have happened.

  • BigM

    Debt…Debt….debt….debt…. mentioned 10 times and not enough.

    Da Bums! Their putting us all down the drain of despair!!

  • laura

    I agree w/ joblessus. No need to try to inform others, they won’t listen. This country is finished; over and done. All patriot and political activities are useless at this point in time. Throw all related materials in the trash; they won’t be needed now. Prep. and hunker down, interact with a small group of like minded friends for bartering, etc.

  • http:Yourcommentisawaitingmoderation//www.youtube.com/watch?v=QlUbg3rUGrU Smash the Control Machine

    IT MUST BE HARVEST TIME CAUSE I SEE THE WEEDS!!!

  • http:Yourcommentisawaitingmoderation//www.youtube.com/watch?v=QlUbg3rUGrU Smash the Control Machine

    ECONOMIC ANARCHY IS COMING!!!

  • http:Yourcommentisawaitingmoderation//www.youtube.com/watch?v=QlUbg3rUGrU Smash the Control Machine

    When we were young the future was so bright
    The old neighborhood was so alive
    And every kid on the whole damn street
    Was gonna make it big and not be beat

    Now the neighborhood’s cracked and torn
    The kids are grown up but their lives are worn
    How can one little street
    Swallow so many lives

    [Chorus]
    Chances thrown
    Nothing’s free
    Longing for what used to be
    Still it’s hard
    Hard to see
    Fragile lives, shattered dreams

    Jamie had a chance, well she really did
    Instead she dropped out and had a couple of kids
    Mark still lives at home cause he’s got no job
    He just plays guitar and smokes a lot of pot

    Jay committed suicide
    Brandon OD’d and died
    What the hell is going on
    The cruelest dream, reality

  • http:Yourcommentisawaitingmoderation//www.youtube.com/watch?v=QlUbg3rUGrU Smash the Control Machine
  • mondobeyondo

    We have become a nation of dancers, singers and entertainers.

    “Dancing with the Stars”…
    “So You Think You Can Dance”…
    “America’s Got Talent”…
    “American Idol”…

    No wonder nothing’s getting done around here!!

  • http://leibowitzsociety.blogspot.com Leibowitz Society

    Stocks are basically a hollowed-out shell of a sucker’s game right now as the people who don’t understand this still try to put money into sinking 401ks, while brokers who can’t pick winning stocks still try to convince people that they’re living in the good old days. How sad it is getting to be.

    Visit http://leibowitzsociety.blogspot.com for consideration of the future and what comes after our collapse.

  • prepare

    Any thoughts when you think this will all happen. Months, a year?? New to all of this because had my head stuck in the sand. I need to start preparing today but wondering how long before too late. Thanks to all!!!

  • Maria

    Ken,

    The goal is to bring down the corporate banks that set in motion a plan to enslave the world to their tyranny. To do this, we must not accept their “enslavement through aid” deals.

    Even though we cannot in the immediate future regain healthy economies in each of our individual countries, we can at least bring down those who planned the destruction of our countries. Let the tyrants suffer most from their fait accompli.

    No, rioting will not win the war. The war must be fought intellectually; however, I am afraid the rioting will not be prevented.

    Your description of the Greek people’s guilt in the matter mirrors that of the American’s. In fact, it is the same all around the world. What people have been truly “guilty” of is ignorance and apathy. Both made the people of the world blind to the corporate banking takeover.

    I believe that if the people of nations everywhere can stand up against these truly evil multi-national banks, we can defeat them. Iceland showed us how it can be done. Now, Greece is at the tip of the spear. Next it will be Spain, Ireland and Portugal. Eventually…America.

    Life is going to be difficult for all nations of the world as a result of the economic collapse. We cannot stop that implosion.

    What we are fighting for is L I B E R T Y. The liberty to make our own decisions as to how our individual countries will rebuild our economies…rebuild our lives. Rather than have the world’s “elite” tie their “austerity” noose around all of our necks and hang us.

    We know austerity is coming…we just don’t need their version of it shoved down our throats anymore! To their benefit!

    I would rather live in a F R E E country and be dirt poor than continue to live under the yoke of economic tyranny and be treated like culled cattle.

    The world will one day be in the process of rebuilding economies and individual sovereignty. Who will trust the countries that do not cut their ties with the tyrannical banks?

  • morpheus

    I have good news and bad news. The bad news is, yes, things are getting much worse. The good news is, we’re starting to organize and we’re getting stronger. Join us, we don’t have to live like this. This is not the time to give up or retreat. It’s time to go on the offense. This is not the time to retreat into our caves.

    ***JOIN THE REVOLUTION***
    Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

    FIGHT THE CAUSE – NOT THE SYMPTOM
    We don’t have to live like this anymore, NOT unless you prefer IT!
     
    “Spread the News” – Time is of the essence…

  • Dr. Nancy

    How You Can Profit in Spite of Today’s Economic Crisis –

    Watch This Free Video Now:

    http://www.theelevationgroup.net/capture.php?a_aid=160667&a_bid=e6b01db8&chan=y528

  • Gary2

    I sure hope a distinction is made between jobs and good jobs. Texas creates a lot of jobs… Low paying jobs with lousy benefits and lousier prospects for a decent future. Don’t buy into the jingoistic republican shout about jobs. It has to be good jobs, or it doesn’t mean much.

  • 007

    I have a bad feeling I have seen this movie before. Looks a lot like 2008.

    Welcome to the Obama depression.

  • Jake

    Great article. How about including some advice about what to do? Ok, so this is great information but it’s no good if we don’t know what to do about it! Should we buy gold should we get out of the dollar. Just a few tips, they don’t have to come from your mouth you could refer us to other reading about what to do in these situations.

  • RealityBoy

    Well, this is EXACTLY what Mike Ruppert over on collapsenet said would happen before July…
    Next the collapse of the Euro, the EU countries fall like dominoes, the good old USA follows with martial law nationwide (and Alex Jones can pat himself on the back), we will see a major war breakout in the middle east (probably China) and the global collapse flow-on effects will hit the entire world.
    It’s all been building for decades – the whole global ponzi economy is sinking into the swamp and nothing will save it. Those who were smart enough to see it years ago and acted then will survive. The others, well they’ll have “Dancing with the stars” or some other crap to console themselves…NOT.

  • Collaro

    Laura: I agree with you! Are you shovel ready yet comrade? FND Lafayette, CO

  • scaredpeople

    There is going to be a lot of scared women and children out there if they come to realize the severity of the economic situation.
    The news media working hand in hand with government in a coordinated effort to quell any panic. The government knows that eventually a total and complete panic by the American people will occur if they come to knowledge of how bad the situation really is.

  • http://www.planorperish.com/ Gutter Economist

    The next American Revolution has started: Operation Empire State Rebellion

    http://www.planorperish.com/?p=4976

  • http://everything-survival.blogspot.com/ Jäger

    Yep, if you have not started to get yourself and your family ready and prepared then now is the time. Not only for some type of economic decline or collapse but there are a number of events that could happen that if you are prepared you will be way ahead of the game and more prepped then 98 % of the people out there now.

    If you have been prepping then go back over your plans, double check everything, make lists of what you need and things you want to accomplish, stock up on what you think you may be missing. Also research more on getting ready, study and learn. If you are new to the prepping field or have been doing it for awhile here is a site that may help you out.
    I’m not selling anything, to busy working as a police sergeant, my desire is to help people and this is one of the ways I can help people out.
    http://everything-survival.blogspot.com/

  • jeff198524

    You people are amusing. Everyone here is an expert economist and political commentator, just like the rest of stupid-ass America.

    When the Fukushima incident started all Americans were suddenly nuclear physicists.

    All debt and unfunded liabilities makes America’s debt over 11x GDP and soaring.

    America could be saved through reform, budget cuts, etc. but you all would rather cry about it on the Internet.

    • McKinley Morganfield

      “America could be saved through reform, budget cuts, etc. but you all would rather cry about it on the Internet.”

      I’m not crying. I’m trying to keep a critical eye open and prepare for an extreme situation, should it come to be, as best as I can to protect my extended family.

      Yes, I agree, the situation could be gradually turned around if there was the political will on the part of the ruling class and the intestinal fortitude on the part of the people to shoulder through the pains of a major, long term (5-10 year) economic contraction. Real reform, budget cuts, etc. ain’t going to happen this year or next year of the year after. At best some half-hearted measures will be taken that lead to no substantial change. I would like to be wrong, but I doubt the will of the politicos and the people to make the necessary sacrifices. See any meaningful signs that this will happen? I didn’t think so.

      • moses737

        Sorry McKinley, but the International Banksters/Illuminati kingpins have suckered you guys once again. And they are going to have all of your money and the little wealth that you have in their coffers soon. They hate you. They hate America because of our Constitution; and because we value our freedom. And they hate anybody that wants to remain free and not their slaves. Its almost over. And next; they will want to make you their zombie slaves; by forcing you to take their zombie making and mind controlling, mark of the beast chip in your forehead or hand. And if you do it; you will forever be cursed by God, 24/7, because it will mean that you have joined and sided with Satan and his antichrist beast leader; according to Revelation 14:9-11.

    • Rick

      “America could be saved through reform, budget cuts, etc.”

      Yeah, I’ll hold my breath and wait for that to happen.

    • moses737

      Sorry Jeff – But everybody has an opinion. My opinions has come with 37 years of research. And my opinions are based on the Holy Bible and what I have seen in the last 37 years. And according to my research; it is almost over. America is being destroyed by the International Bankers/Illuminati, whom you probably think that doesn’t even exist. And eventually; they will crash our economic system, so they can force us to take their One World Luciferic Government/Economic System. And then they will eventually try to force us to take their mind controlling and zombie making, mark of the beast chip, that is spoken about in Revelation 13 and 14. And Revelation 14:9-11, says that if you take the Mark (chip) in our forehead or hand; that you will forever be cursed by God, 24/7, because it will mean that you have joined Satan and his antichrist beast leader, and leaders. Serve Jesus instead and live like a god on the renovated and beautified Earth, when Armageddon is over; and Jesus Reigns Supreme!!

    • Bill Brasky

      “All debt and unfunded liabilities makes America’s debt over 11x GDP and soaring.

      America could be saved through reform, budget cuts, etc.”

      Way to demonstrate your stupidity in two back-to-back sentences.

      Here’s a clue, moron: debt “11x GDP and soaring” is a bit of a problem, the working out of which will not be pretty.

      “reform, budget cuts” lol. idiot.

  • jeff198524

    I’ll be laughing my ass off when bodies pile up in America’s streets from hunger and disease, and everyone is wondering why their goddess Ayn Rand and the free market isn’t saving them. lol

    As for me, my family hunts, fishes, and gardens. I’m paying off what little debt I have and invested wisely for bad times. Most Americans won’t have a clue what to do. They’ll be too busy going through iphone withdrawl. lol

    • xander cross

      I agree. Most people always talking about the free market when it is the main reason why we are in this mess in the first place. Compaines like wal-mart believe in the free market, that is why things are so bad now.

  • http://www.watchman2009.blogspot.com Cliff Hilbert

    Monday, June 6, 2011
    Coming Out Of The Eye Of The Storm
    With last week’s dismal stock market downturn, the pathetic numbers of new jobs created causing the unemployment rate to jump up to 9.1%, the housing market in steep decline and other factors which show people losing confidence in what the Obama administration calls the “economic recovery”, I feel that we are now coming out of the eye of the storm that we have been sitting in for some time now – http://watchman2009.blogspot.com/2010/10/still-in-eye-of-storm.html.

    Now the class 5 hurricane force winds will come from the other direction and completely destroy the economy of this nation.What that means exactly I do not know except that we will see hyperinflation in ways that we never expected and a depression much worse than the Great Depression. How do you prepare for this? Pray, pray, pray and pray some more asking the Lord what He wants you specifically to do. There is no blanket answer regarding this, it is as the Lord wills for each person, each family.

    Last year I wrote a message which was titled Catastrophe Upon Catastrophe in which I stated that judgment had already begun and was going to get worse and worse. It started off with deadly weather events and mass killings. This year the weather events have gotten much deadlier and much more destructive. They will continue to get deadlier and more destructive as the year goes on. Little by little we are becoming a nation of refugees. Little by little our farmlands and crops are being destroyed by great floods and tornadic winds, by severe droughts in many areas of the nation as well as huge wildfires in several states. Little by little all these things are adding up to great destruction. Little by little our food supply is dwindling and the price of food is shooting up. These things are not going to improve regardless of what the Liar-In-Chief and his cronies say on television, they are only going to get worse.

    God’s warnings ended last year and the only thing coming is judgment and destruction. As I have so many times before, I beg you to turn off the idiot boxes, quit spending your days on your computers looking for more “warnings” from false prophets and other deceivers, and turn to the Lord in prayer and spend more time in your bibles. Prayer and the bible are the only sources that will help you prepare for what is coming.

    http://www.watchman2009.blogspot.com

  • Gary2

    This is so simple even the dumbest right wingers can understand. Robert Reich explains why we need to TAX THE RICH HARD AND SPREAD THE WEALTH NOW!

    http://www.youtube.com/watch?v=JTzMqm2TwgE&feature=player_embedded

  • emma

    market is crap and so is weiners career.

    ha ha this is funny, what a naughty gerbil. He has wrecked his whole family and job cause of this. Moronic ey?

    Funny thing is that at the start of JUNE these FFT guys over at http://forecastfortomorrow.com forecast he was going to quit and resign and told everyone to look for that to happen. and now it has happend, WOW look at their free forecast here http://forecastfortomorrow.com/files/Anthony-Weiner.pdf totally amazing!!

    They also called the stockmarket crash back in 2008 so I follow them closely. Spot on, so that why I follow them.

  • jeff198524

    You have no argument, so you call me an “idiot”, how mature. For the other guy, the “Holy Bible” is a book of fairy tales in my opinion, and most American Christians are brainwashed hypocrites.

  • jeff198524

    Yes, America can be saved through reform and budget cuts, etc. but it won’t be easy, fast, or painless.

    Also, I’m not a Christian, so nobody ramble about that Bible nonsense to me, okay?

    Everyone has an opinion, but most Americans are too uneducated and braindead to make an informed opinion. We’re last in math and science among developed nations/ Our best subject is economics, and only half of American students taking it are passing it.

    Most Americans are either uneducated religious nuts on welfare or idiots who worship the mega-rich and buy everything on credit.

  • 007

    Market looks like it has topped out. Until the EU can print more money and give it under the table to Greece and Bernanke prints more money under QE3, we are in for a ugly ride.

    All the “green shoots” from previous money printing are dying.

    • moses737

      Sorry 007 – But the International Bankers/Illuminati kingpins have stolen all the money. And they are intentionally bringing all the economies of the world to collaspe. Why? So they can have their One World Luciferic Order. Where they will be the totalitarian rulers over us all. And they will make World War 3 happen if they want too. Like they did the other 2 World Wars. And after World War 3; they will try to force everybody to take their zombie making and mind controlling mark of the beast chip; that will be put in peoples forehead or hand. And according to Revelation 14:9-11, if you take it; you will be tormented 24/7, day and night, forever and ever.

      Why? Because it will mean that you have sided with and chosen Satan and his antichrist beast leader as your god and lord; instead of the True God; Jesus Christ. And Revelation 13 & 14 talks about the mark of the beast. And the antichrist beast leader and his leaders and the Bankers/llluminati mentioned above will be tormented 10 times worse than your average beast chipped zombie lakey slave.

  • http://astrofibo.blogspot.com Gérald Langelier
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