The Beginning Of The End
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Suddenly Everyone Is Warning About The Next Financial Collapse

Are we about to see a repeat of 2008 (or something even worse)? Suddenly all kinds of people are coming out of the woodwork and warning that we could be on the verge of the next major financial collapse. Of course many economists and financial pundits just enjoy hearing themselves talk, and sometimes they will make outrageous claims just to get attention, but when so many ominous warnings come out all at once it does tend to make one sit up and take notice. The truth is that global financial markets are even more vulnerable today than they were in 2008, and all over the globe we are seeing trouble signs. Japan is trying to recover from the worst natural disaster that they have ever seen and they are dealing with a nuclear crisis that never seems to end. The Europeans are trying to put another bailout package for Greece together and about a half dozen more European nations that are drowning in debt will need bailouts after that. In the U.S., there are all kinds of signs pointing to the collapse of the economy and the politicians in Washington D.C. continue to "kick the can down the road" and hope that our economic problems will somehow fix themselves.  Oil prices are incredibly high and turmoil is sweeping the globe.  Conditions are certainly developing that could bring about a "perfect storm" and cause another global financial collapse.

The following is just a sampling of the financial warnings that we have seen in recent days from some prominent voices....

*Economist Nouriel Roubini: "I think right now we’re on the tipping point of a market correction. Data from the U.S., from Europe, from Japan, from China are suggesting an economic slowdown."

*Jim Rogers: "I would expect to see some serious problems in the foreseeable future….By 2011, 2012, 2013, 2013, I don’t know when, we’re going to have an economic slowdown again."

*Mark Mobius, the executive chairman of Templeton Asset Management’s emerging markets group: "There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis."

*David M. Blitzer, Chairman of the Index Committee at S&P Indices: "Home prices continue on their downward spiral with no relief in sight."

*Jeffrey Gundlach, CEO of DoubleLine Capital: "I think we're looking at some type of echo in the credit crisis coming up here. That's what I'm afraid of."

*Carl Icahn: "I do think that there could be another major problem. Now, will it happen next week, next year, i don't know and certainly nobody knows, but i don't think that the system is working properly. I really find it amazing that we're almost back to where it was, where there's so much leverage going on in the investment banks today. There's just way too much leverage and way too much risk-taking, with other people's money."

Sadly, the world really did not seem to learn much of anything from 2008.  Global financial markets are still pretty much operating the same way that they did before the last crisis.

But back before the crisis in 2008 things were much more stable around the globe.

When the horrible earthquake and tsunami struck Japan earlier this year, most economists brushed it off and believed that Japan would be "resilient" and would bounce back very quickly.

At the time, I went directly against the mainstream consensus with this article: "14 Reasons Why The Economic Collapse Of Japan Has Begun".

I followed that up with another article entitled "The Japanese Economy Is In Much Bigger Trouble Than Most People Think".

So who was right?

Well, it turns out that Japan is now officially in a recession.  Their economy contracted at a 3.7 percent annualized rate during the first quarter.

As bad as that number is, just remember that the tsunami did not even hit until March 11th.

So what is the 2nd quarter number going to look like?

There is often a lag between a disaster and the economic effects of the disaster.  The economic impact of this nightmare is going to be felt in Japan for many years to come.  In fact, it is going to be very interesting to see what kind of earnings reports we seeing coming out of Japan in the months ahead.

The economic problems in Japan are also really starting to be felt around the rest of the globe.  The other day, USA Today published an article with the following headline: "U.S. economy damaged more than thought by Japan quake".

Amazingly, everyone seems to be really surprised that the worst tsunami in modern history is having a significant economic impact.

Meanwhile, the crisis at Fukushima just continues to get worse.

In case you haven't noticed, the Japanese are not even close to finding a solution to this crisis.

If you want to get a good idea just how bad things are getting around Fukushima, just read this article by Natural News: "Land around Fukushima now radioactive dead zone; resembles target struck by atomic bomb".

The mainstream media has been doing their best to downplay the crisis at Fukushima, but the truth is that it is now a worse disaster than Chernobyl and life in that region will never be the same again.

Conditions are also ripe in Europe for another financial collapse.

Have you been watching what has been going on in Greece?

It's crazy.  Without another bailout the Greek government will soon start defaulting on their debts.

The EU and the IMF don't want to give Greece more bailout money unless there are some significant "strings" attached.  But they also know that if Greece is not bailed out it will cause complete chaos in the financial markets.

The Greek population does not want more bailouts and more austerity.  There have been protests all over the country. Greek citizens have been pulling billions out of Greek banks as the country descends into chaos.

In the end, another bailout deal will get pushed through and the can will be kicked down the road a little while longer.

But what about all of the other European nations that need bailouts?

The government of Ireland is already indicating that they may need another bailout.

Portugal, Spain and Italy (along with several other European nations) are also teetering on the brink of financial disaster.

Most Americans do not realize it, but the European sovereign debt crisis really could set off another global financial crash.  Everyone really should be watching Europe.  It is going to be a very interesting summer.

Of course the United States continues to be an economic basket case.

More depressing housing data came out today.  U.S. home prices are now 5.1% lower than they were a year ago and they have fallen back to mid-2002 levels. CNN is declaring that a housing "double-dip" has been confirmed.

Sadly, U.S. home prices have now fallen farther during this economic downturn than they did during the Great Depression.

Also, the consumer confidence index fell from 66 in April to 60.8 this month.

Americans are becoming more pessimistic about the economy.

According to Gallup, 41 percent of Americans believed that the economy was "getting better" at this time last year.  Today, that number is at just 27 percent.

We are seeing a tremendous about of inflation in 2011, but incomes are not rising.  Unemployment is still rampant and very few jobs are being created.  What is even sadder is that a very high percentage of the jobs that are being created are part-time or temporary jobs.

But this was supposed to be the "recovery".  Barack Obama and the Congress pushed through "stimulus package" after "stimulus package".  We added trillions to our national debt.  The Federal Reserve has been printing money like crazy.  An all-out effort was made to pump up the U.S. economy in the short-term.

So after all of that, is this what the "recovery" is going to look like?

Meanwhile, all of those efforts have also made our long-term economic problems even worse.

Because of our exploding national debt and the reckless money printing by the Federal Reserve, faith in the U.S. dollar is dying.  Even the United Nations is warning of a potential dollar collapse.

We are in big, big trouble.

This is about as good as things are going to get for the U.S. economy.  Despite unprecedented efforts, the U.S. economy is still struggling mightily and our long-term economic problems are scarier than ever.

Sadly, most Americans still believe that wonderful economic times are on the way.  Most believe that this downturn is just temporary and that things will soon be better than ever.

How do you think they are going to feel when they find out the truth?

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  • Otown Right Guy

    Since both the Demopublicans and Republicrats are proven to be craven and spineless, the spending, taxing and debt will continue to rise. The only card they can play is to “go after the rich” and pander to the Gary2′s of the world: the talentless, shiftless, parasites who live off the fruits of the labor of the doers and the innovators. Google Pareto’s Law. Hint Gary2 is in the 80%, the parasites/layabouts. But most of them at least appreciate that the other 20% make their standard of living possible. Gary2 is just an ungrateful, skill-less, useless slug.

    • Gary2

      And as Obama goes after the rich I will support him all the way and probably write him a letter saying to tax them more. We are working on defeating Paul Ryan in 2012. We will be taxing the greedy to help the needy.

      I must be correct in my tax the rich seeing as you are only regurgitating rush bimbo talking points.

      • morpheus

        I’m all for taxing the rich. But our problems are much bigger and nothing has been done to address our real deficiencies.

      • kimcdougc

        Fine to tax the rich, but have you ever seen a poor man hire people to work for him…just my two cents.

    • Gary2

      “There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.”

      Copied and pasted from on point radio blog.

      Otown Right Guy please re-read the above several times.

    • xander cross

      You talk big for someone that does not produce anything. You’re the problem as well.

  • TucsonKK

    Lied to by Cable News” Econmy is growing/jobs being created/LIES!!!!
    Each month more & more jobs are lost
    http://www.dailyjobslost.com

    Don’t blame OB lots of jobs were being lost during L—– Bush’s term.

    Now we have Cocoa Crispie Tea Party in Congress and they are doing everything to destroy all hopes of a recovery(puppets must perform for their Masters)

    Sad but don’t believe any of the Cable News
    DO YOUR OWN RESEARCH!!!!!

  • Kevin

    Approximately one third of the worlds population is in the process of being lifted from a level of poverty that the developed world could not comprehend. That is creating a big bump in the status quo that we were expecting to live in.

    It is understandable that the post WW2 citizens will not be on top forever. I prefer an honest debate with the developed worlds population that are governed by democratic principals to decide how to achieve this goal. It is preferable to the slight of hand manipulation that has been so efficient (and violent) to accomplish this political transformation.

    It’s not the end goal that is bothersome. It’s the destabilizing rapid rate of equalization that is so disruptive.

    • garyg315

      very nicely stated

  • Mel

    It is pretty depressing to read ur article..For some comedy relief, here is a take from CNBC Mad money host Jim Cramer

    http://www.cnbc.com/id/43225171
    Cramer: It Will Be Hard to Stop This Rally
    Behold this rally, Cramer said Tuesday. The “Mad Money” host likened it to a worldwide relay, which started in Shanghai, continued in Japan, went to Europe and finished strong in the USA.

    “We haven’t seen this kind of global move for ages,” Cramer said, noting that China’s economy is still growing despite inflation. Increased demand for commodities in China signals things are turning around.

  • Mountain Man

    In order to fundamentally change the US; a crisis of monumental proportions must occur first.

    “Crisis is the rallying cry of the tyrant.”…James Madison

  • mark

    Most people in the US will continue too hide their heads in the sand. Unless we stop borrowing and cut spending we will drop over the cliff. Economists do not seem to understand the we have inflation on the items we need to live and deflation on the things that we do not need to live. If you have a comodity that is needed outside of this country, the rest of the world will pay more for it. Single family housing is still overpriced. The price will continue to come down until the common Joe can afford to purchase one. Another problem is that wages cannot go up and still compete with the rest of the world. The Fed will keep printing money out of thin air and devalue the dollar more. We need to cut government red tape. That means getting rid of most of the laws on the books to be able to compete. The more laws we have the more government employees we have to pay for. That means more pensions that we can’t pay for. All the government giveaways need to be cut, but sadly nobody wants theirs cut. That means that we will fall off the cliff.

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

    From Martin Weiss at Money and Markets:

    Last week, for example, the FDIC announced that nearly 12 percent of the nation’s banks were at risk of failing, the highest level in 18 years. That’s a total of 888 banks they recognize could be dangerous to your financial health.

    Home prices are falling again. Foreclosed homes are being dumped on the market at the fastest clip ever. And anyone still counting on another new round of bailouts from Congress must be living on another planet.

    That last debt crisis impacted strictly corporations in the private sector of the economy. This one is hitting sovereign governments, including our own! The last crisis was cut short by massive government bailouts. But there’s no one rich enough to bail out the United States of America!

    http://www.moneyandmarkets.com/our-three-immediate-recommendations-for-safety-and-profit-44901

  • mondobeyondo

    I watched one of the evening network newscasts last night.

    No mention whatsoever of Fukushima. (Apparently that crisis is over, and life is normal in Japan again…)

    No mention of the Greek debt crisis. (Greece is the same as it ever was, if not better. Oom-pah!!! Or however you say it.) Not to mention, the Eurozone is is deep trouble. No mention of that, either.

    So, what WAS mentioned in this newscast?

    - Housing’s in a double dip (oooh, that’s tragic!) Seriously, that IS an important issue, and it is sad. The value of many peoples’ lifelong investment is in the toilet, and rapidly heading towards the sewer.

    - Is it better to rent than to buy? (General consensus: It’s better to rent)

    - Do cell phones cause brain cancer? (Yes, I’m serious. That was an honest to goodness news segment.)

    The space shuttle Endeavour is coming home, for the last time. (Yippee! Should I give it a hug when it comes back home?)

    We are being let down on so many levels.
    Our governments – federal, state, city and county. Our politicians. Our media. All of them delivering pie crust promises – easily made, easily broken. What a train wreck.
    Maybe it’s good we never got around to making bullet trains…the coming crash would be, let’s say.. ballistic?!

  • Ben Dover

    Tax the rich hard, blah, blah, blah…….

    Does that cover it Gary2?

    • Gary2

      pretty much, yes. I am glad to be educating people on this site!

  • Hognutz

    Lock and load y’all……it’s going to be one helluva summer.

  • Just Me

    This is not even a new story, all those experts are telling us what almost every homeless person all ready knows just by dumster diving, the sellable trash just isn’t there anymore.

    for them to keep say we’re going to have a crash someday is like the weatherman saying it’s going to snow in Mississippi someday, of corse it is, all we have to do is keep buying salt and snow shovels and waiting.
    Until the MSM gets on board,only about 15% of the people will pay any attention and then all the people on Tax payer funded pensions like NYS and the people on SSI,welfare,Heap,foodstamps or any public assistance will not believe it, they think their ckeck will be in the mail anyway.

  • William

    The SAME $600 Trillion pile of unregulated derivatives continues to fester, and the band plays on. Yes, as the once CEO of Citigroup said, the music is still playing, so we are still dancing. If you want a look at what will happen when the music stops, study Argentina about 11 years ago, or Zimbabwe more recently. But, today, Americans are more concerned with trifles that have become the focus of their life….texting stupid and meaningless messages, the NBA playoffs, or the next Nascar race, or can she/he do it in a minute. These are the very same fools who believed in the evil Shrub Bush. These are the dummies who will vote for that same old Representative or Senator who has been there for 20 + years and caused the mess we are in. Do you have ANY gold or silver? How about at least a couple of months supply of food? Do you know how many drops of chlorine bleach will purify water? Can you defend yourself, or will you call 911, then wait to die?

  • DEADLYTIMES

    Suddenly Everyone Is Warning About The Next Financial Collapse…HELLO!!!!!!!
    Michael’s headline is so right on!
    Almost every news article and news station is now reporting on either the need for QE3 or a double dip is comming or something horrendous happening in the economy Like $5 dollar a gallon gas by July!
    What the heck??? we all have been following Michael’s stories because we know that we never got out of a depression! let alone a recession!!!!
    when did main stream media catch up to the rest of us????
    Did they think people like Michael who writes these stories are fear mongering?????
    Can some one please tell me what the hell the media has to gain by not alerting everyone to impending DOOM that is about to hit the world economy like the world has never know?
    Does main stream media have the right to keep people in the dark about the catastrophic HELL that is about to be unleashed on the world?
    As Gerlad Celente predicts: MILLIONS Unemployed and starving, left homeless and desperate, Trade packs broken, boarders closed, immigrants brought in during boom times being rounded up and deported and blamed for lack of jobs and benefits.
    PEOPLE the future is going to get very GRIM indeed and i expect most of you on here are getting ready to fend for your selves and not rely on food chains and Walmarts and factory farms to provide you with food and shelter.
    Get ready people.. God speed to all of those who are in the know and God help those who are without a clue!

    • Pat

      We are in a stae of total “media craze”. During the Great Depression, FDR used the media to talk us out of that depression. Influential people as Napoleon Hill even admitted to the fact that what the Government published and what was fact conflicted but it worked then.( He was a behind the Now globalization, population boom and a surge of emerging nations will not allow that. The internet has leveled the field and we all can seek the facts as we are sharing on this site.

    • Larry

      We apparently ‘can’t handle the truth’ and would make irrational decisions if we knew the real truth, like voting out all sitting members of govt, buying whatever provisions we need for our families to survive the next few years, etc. In short, impose the Constitution and the bill of rights upon our govt. and be willing to pay the price for our actions. As we have learned, the price has to be paid anyway, let the elite share in the fun.

  • bobbobbobbob

    usa = BRA. the BRA has 12 carrier groups 4 what?? to keep the southerns employed. u r too poor to have such extravagances. g.e. has exported thousand of good union jobs and pays no corporate taxes. u r much poorer than u think. mcpain would have exported the entire auto industry. CHINA RULES!!!!!!!!

  • HerrLT

    “I tell you the truth, it is hard for a rich man to enter the kingdom of heaven. Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.” – Jesus (Matthew 19:23)

    • Gary2

      I hear you. I am trying to save the souls of the greedy rich by advocating much higher taxes for them. You would think more people would appreciate this.

  • Brian Gazeley

    If there is another financial meltdown as seems more and more likely because the economic fundamentals are diabolically unfavourable it is difficult to see how, this time round, the global market will recover. The big experiment of never ending financial stimulus appears to have failed, confidence is fast failing not only in the US but in Europe and Japan and there is now precious little left in the tank to restart the global engine China cannot do it alone. No matter how big it’s financial reserves are it needs buoyant overseas markets for it’s products. We are surely at the tipping point and we have done it ourselves better than any terrorist gang could have managed. All it needs now is one more shock and markets will implode. The house of cards will be finished. Gold and diversified currencies may help but even then it will be a very rough ride as civil unrest becomes uncontrollable. What we now see in the Middle East could well move Westwards.

  • DownWithLibs

    Looks like the heard is just now catching up to reality. Better late than never!

    BTW – Did someone “off” Impeachronpaul. I haven’t seen him in here for a while. Guess it proves my hunch that he was just a troll. (Couldn’t stand behind his fake issues any longer)

  • Sandy the Swede

    I would like to hope that within our political system someone, or some group, would emerge who would significantly alter the course upon which we find ourselves. Unfortunately, that hope flies in the face of human nature, and thus, is probably misplaced. You should expect that those running the show in the good ‘ole USA will continue to kick the can down the road through more QE. Prices for essentials will continue to climb (i.e., the value of you money goes down). I can count on one hand the number of our elected US congressmen who would vote to stop this madness. You can see how Ron Paul is marginalized. Debt is an unforgiving and relentless mistress. She must, and will, be repaid. What will happen is what always happens. Those currently running the show will apply their “fixes” which work for a short period of time until they don’t. Then it blows up. It’s just human nature. However, ask yourself this, “Where would I rather be after it (fiat based economic systems) blow up?” I don’t know about you, but I would rather be in the good ‘ole USA. Why?
    1. We have the ability to not only feed ourselves, but approx one-half of the remaining human race.
    2. The US Govt is by far the largest owner of gold at approx 8,000 tons.
    3. In addition to large amount of arable land cited in #1, the US has enormous reserves of natural resources.
    4. Although declining, we still have the world’s dominant military machine.
    5. A significant percentage of the US population is armed.

    Instead of placing your faith in those currently running the show (aka the US Congress and our Community Organizer-in-Chief), I suggest you begin taking steps to protect yourself and your family. Start with 2 months of food and water. Then some cash at home. Then gold and silver bullion stored at home. More if you can afford it up to 10% of your liquid assets. Weapons? There are a zillion websites, but I recommend a Mossberg 590 pump 12 gauge. Don’t buy unless you get training. And no 00 Buck either, as those can go through walls and potentially hit a family member. Use bird shot #7 or #8. This is just a start. Any guarantees? No. But you will begin to sleep better knowing that you have taken out “insurance.”

    • William

      I have serious doubts as to the quantity of gold in Ft Knox, given that it has not been audited in about 50 years. And, what is there is most likely not in “deliverable” form. Ask the Khazars at the FED if they would mind a detail audit………I’ll bet they will object strongly. Can’t let Americans know the gold has VANISHED!!

  • http://www.zenithminds.com Anthony Allen

    Mountian Man said it best. This system needs to be brought to it’s knees b4 real reform can take place. 07-08 was a standing 8 count. 2011-2012 will be the KO blow!

  • Jim Symington

    Could it not be that the powers in charge are intentionally printing trillions in US dollars, causing the fall , knowingly investing in Gold pre-empting the rise? Therefore causing the record Gold price gearing up to sell off and back to US Dollars ……just before the world saving announcement of our recent advancement and 500 trillion barrel reserves in the “Marcellus Shale fields” and the development of Fracking ?
    The announcement , properly released would be a lifesaver, lowering Gold, raising the Dollar and make huge returns for those in the know ?

  • Patriot One

    For most of us we have been seeing this coming since 2007. Maybe now that the MSM is saying something, anything, it may peak quickly.

    Once we collapse and declare public and private bankruptcy we can rebuild very quickly. I my opinion if we had an economic collapse today. We could be back on top within 36 months. There really is no other way out of this mess, the debt and unfunded liabilities are just too big.

  • 005

    I’m repeating myself here, and hate to admit it.
    Yet, part of me is almost saying “just get it over already.” It’s like someone threatening to punch you “some day.” After a while you just want to take the punch and end the tension.
    It’s a terrible way to think, yet other people must have this same thought at times.

  • hitfan

    I recently discovered this blog, through another blog.

    YOU paint a fairly dim picture, kind of like the housing bubble blogs did before 2007.

    Unfortunately, I have to say that I share your pessimism. While there were some faint hope signs in 2009-10 that there was light at the end of the tunnel, it looks like the manure is going to hit the fan a lot harder than it did in 2008.

    The recovery has been fake because the fundamentals of the economy are fake. Bush created the housing bubble during his Presidency with low interests and low mortgage standards because the United States doesn’t make anything anymore and wages have been stagnating for decades.

    The Peter Schiff solution to what ails us (allow real market corrections to play themselves out) is politically impossible to implement or allow to happen. So we’ll see more and more bailouts (throwing good money after bad) that don’t address the root cause of our problems.

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

    This article speaks for itself in a lot of ways, both in terms of what is happening (and is going to happen) and the fact that people cannot listen to others, but have to stick their finger in the hornet’s nest and get stung for themselves.

    Warnings about debt are nothing new and go back more than 25 years (if not longer), yet people ignored it and kept spending. America isn’t going to fall to a foreign or domestic dictator — it’s going to fall apart because of bad decisions and greed.

    Visit http://leibowitzsociety.blogspot.com for commentary on our ongoing collapse.

  • Maria

    The world economy is beyond fixing. Collapse doesn’t happen overnight, but it is happening NOW. Politicians don’t know how to fix anything, and neither do central banks. All the money pumping is making the end result worse and prolonged.

    So what’s the worse that could happen? Inflation? Hyperinflation? Empty store shelves? No emergency services? Anarchy? Nobody in the MSM knows. They are reactive. They don’t predict anything but the weather. So everyone is on their own to figure it out.

    Prepare or don’t prepare. Either way, the world’s economic outcome will be the same…whatever that is. The only difference will be how it affects you.

  • Kevin

    sandy

    We don’t feed 1/2 the world anymore. We export a little food but fortunately are self sufficient in that regard.

    Gold? We can back about 3 cents on every dollar. Quite a standard of living cut if we needed to depend on it.

    US Military? Let the collapse come and sorry fellas but no pay, fuel or spare parts. Looks like a lot of wasted money. I’ll bet quite a few generals in the old USSR made that proud claim as the East was collapsing.

  • morpheus

    I don’t mind the bad news anymore. Bring it on. I no that’s the only way the people in this country are going to stand up and demand real change. It’s going to hurt a lot more though.

    “WAKE UP PEOPLE!” – JOIN THE REVOLUTION
    Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

    We don’t have to live like this anymore. “Spread the News”

  • Lisa

    @005

    I feel the same way, a LOT of us do.

    Pray and prep, that’s what I am doing!

  • Carl Jones

    Why is the price of oil high? Its not demand!! If oil falls too far, oil producing states like Saudi will go bust. Then Saudi will need to sell their $$$$$ holdings!

    This is the reason for the NWO instigated war in Libya. By creating this sham war, they stop Libyan oil from getting to market. Ok, Libya oil produces 3/4% of global production, but its share of exported oil is much higher.

    Initially, Saudi said they would boost production, but less than two weeks later, they slashed production.

    The Western elite are doing their best to actually stop an economic recovery. Even in a this depression, the trade defict in the US and UK is staggering. eg, the UK trade deficit for January 2011 was £3.9 billion…they actually need to stop people from spending. So devalue, tax and inflation. But will this be enough? No, they will need to limit cash withdrawls, and maybe a cyber attack that would close the banks and/or wipe peoples accounts.

    Don`t you just love the NWO!lol

    Role on WW3.

    • mondobeyondo

      Demand does play a role – emerging economies such as China and India are beginning to consume lots of oil. But the main reason why the price of oil is so high, is because the dollar is so low.

  • WVBORN56

    I think the tipping point for globalization, the decline of America and the start of (2)Biblical wars in the ME will be the rapture of the church. Everything is running consecutively on multiple fronts and just waiting to begin. While preparing for an economic collapse is wise preparing for eternity is even smarter.

    John 3:16…”For God so loved the world, that He gave His only Son, that whosoever believes in Him, should not perish but have eternal life”

    • Kelby

      Yup, the whole world is going down the toilet.

      The older folks (70+ years old ppl i mean) will probably knoe what to do since they’ve been through a Depression before. They’ve lived their prime years.
      But for those of us who still have a whole life ahead of us, my heart bleeds for them – im only 17 and I’ve always dreamed of being a famous animated movie director, living by my own happy self in an awesome ultramodern house in L.A. But now that I know about the impending doom on all of us, I wonder how that dream’s gonna be affected? How are colleges and jobs gonna be affected? How is LA gonna be affected. All those things will probably be totally trashed, forcing me to pursue a totally different dream, which i will probably be in no hurry to give up.
      But, Im optimistic that people (especially gov and MSM) will SERIOUSLY, ONCE AND FOR ALL learn the evil of their ways. People (even the sheeple) will LEARN what the big guys were REALLY all about. (Money money and more money!!!!) We will FINALLY stand up like grown men and women and FIGHT, and win. America will be restored and finally be back old school 1776 style!!! :) that is, until 300 yrs later ppl get lazy and corrupt again and history repeats itself, predictably. XP Call it rose tinted but thats what im thinking now. If this is the only way ppl will learn, well, BRING IT ON!!!

  • El Pollo de Oro

    “When the money stops flowing down to Main Street, the blood begins to flow on the streets. And the money is not flowing down.”—Gerald Celente

    “If we don’t change course—and quickly—Third World America could very well be our future.”—Arianna Huffington

    “If you don’t have anger over being a slave, if you don’t have anger over being oppressed, then there is something wrong with you.”—Alex Jones

    “Capitalism should not be condemned, since we haven’t had capitalism.”—Ron Paul

    “It’s a mistake to think that poor people get the benefit from the welfare system. It’s a total fraud. Most welfare go to the rich of this country: the military-industrial complex, the bankers, the foreign dictators. It’s totally out of control.” —Ron Paul

    “We’re going to see an economic collapse, the likes of which the world has never seen before. America will be the first undeveloped country.” —Gerald Celente

    Signore Celente has been predicting what he calls “The Greatest Depression”: a total economic collapse that will be even worse than the Great Depression of the 1930s. And he is absolutely right. The economy of The Banana Republic of America (formerly the USA) is in terrible shape in June 2011, but it is going to get much, much worse. When that happens, all hell is going to break loose.

    “You’re going to see crime levels in America that are going to rival that of a Third World country. Welcome Mexico City. You’re going to start seeing people being kidnapped in this country like they do in other underdeveloping nations. It’s going to be very violent in America.”—Gerald Celente

    Signore Celente is absolutely right. Get ready for food riots. Get ready for violent crime to skyrocket in BRA cities to the levels one finds in Johannesburg, Caracas, Ciudad Juarez (orale, guay!) and Port Moresby, Papua New Guinea. Get ready to live in a Third World hellhole where carjackings, kidnappings and armed robberies in broad daylight are a fact of life.

    “A hungry man is an angry man.”—Bob Marley

    Things are going to get very ugly in this collapsing Third World Ponzi scheme known as the BRA. God help La República Banana de América (formerly known as Los Estados Unidos).

  • McKinley Morganfield

    Good article. The situation must be very serious if the pundits in the MSM agree with unwashed peasants like us. ;-)

    As noted above, it can’t be fixed with fiat currency, inflation, and more debt. We should have taken the hit back in 2008-9 and allowed the gamblers to take their losses. Yes, it would have caused much pain and suffering for all of us, not just the gamblers, but it was the best thing to do in the long run. Instead the powers that be chose a quick fix bandaid to pretend they knew what they were doing and piled on more debt which will make the inevitable correction far worse. “Too big to fail” will soon prove to be too big to save.

  • WeHaveASoul

    I’ve watched the collapse goes into downward spiral for a long time. Long before i found this blog. I’d like to thank you for a honest data and thoughtful information. With the exception for a few exaggerations the articles are responding to beliefs of many peoples outside US.

    The more i look around, the more i believe this crisis is carefully orchestrated.

    We will see the world wide blatant human rights violations really soon. Transnational corporations of repressors will continue to grow up, they would not need the home soil anymore. We all would be marked, enumerated and chipped in the name of the progress. Earth is turning into the great boiling soup of nations really fast, the prison of mind.

    Do you have such a frighten feels too?

  • The Unicorn

    The media and money supply is all controlled.The game is rigged.The rules can change at random.How does one perpare for that?

  • 007

    At the end of the Roman Empire they taxed the rich hard, the economy collapsed, people sold themselves into slavery to avoid impossible taxes. In the end, those that survived lived on small self-sustaining farms. They prayed Rome would be invaded so the pain of the corrupt system would end.

    Sound familiar?

  • mondobeyondo

    The mainstream media generally tends not to ring any alarm bells. Not until the house catches fire, there’s smoke coming out of the windows, and the flaming roof is about to cave in.

    Then, they ring the alarm bells. “Hey, you’re in danger here!”

    Ya think?!?

  • http://www.povertylinejournal.blogspot.com/ the optimist

    One of the things that makes me distrustful of the mass media is that they keep talking about “serious problems we could be facing in the future”, like we aren’t in the Second Great Depression RIGHT NOW. I think it’s a case of “let’s not panic the good simple people”.

    The ill advised bank-stimulus plan was an experiment gone wrong, and we-the-people will pay for decades. Shoulda let em fail.

    Yes, 90% of the people I know believe that the economy is recovering, that we are not in an uncontrollable, long term death spiral.

    I think that’s not a matter of simple stupidity. It’s human nature to be unable to grasp something so out of our experience, something so unthinkable. I get it NOW what my First Great Depression grandma was talking about, ha ha, when I’m on the brink of total insolvency and foreclosure. It’s a life changing experience, and I will never never be a debt-slave again, but I wish I didn’t have to learn it this way — but don’t go making assumptions about what I or a lot of other poor people did to be in this position. The working and non-working poor are the canaries in the coalmine, first to feel the pain. We don’t need to be demonized to make others feel smarter and reinforce their feelings of superiority and immunity.

    In regards to the infighting among the responders here, GET A GRIP! The Titanic is sinking and you’re wasting time defending the crew (the haves) who are at the center of this mess, arguing about irrelevant trivia when the whole system is at the tipping point. It can’t be fixed with the tools we have (ie, our two party system). It’s going DOWN.

    We who read blogs like this know and there is little we can do to help those who will not see.

    Side note: I find it charmingly naive that some people refer to the wealthy as producers. Oh sure, sure, some are. Mostly, they have ways to churn their capital to make more capital, and scheme the system to protect it, and that’s how they live. The real producer class is made up of farmers, bricklayers, artists, plumbers and electricians.

    Let’s make fun of Gary or others whose political opinions you don’t like? A colossal FREAKING WASTE of time.

    • mondobeyondo

      Nothing’s gonna stop this ship from going down. The best we can do is grab a bucket and start bailing… hope you know how to swim! (i.e. hope you’re prepared)

  • Alasha

    It just feels like everything is spinning out of control. :(

    • Alasha

      had to change that pic. lol

  • Teknikid

    @Gary2: Until you define what “rich” means when you say tax the rich, I will not get on that bandwagon. Some people consider me rich, even though I am far from making three digits per year. Then taxing the rich more would mean I get walloped more while trying to make ends meet. Rather than pursuing this class envy by means of the Marxist income tax, why not fight for freedom to keep our earnings, regardless of salary?

    We didn’t have the progressive income tax until the criminal Federal Reserve was brought into being. Get rid of that criminal enterprise, and we won’t need to collect an income tax to line the pockets of the stockholders of the private Fed. You have qualms with the rich? Fine. Start with the rich owners of the Fed.

  • http://www.pathtoasia.com rhea

    “There are three kinds of lies:
    Lies, damned lies, and statistics.”
    I believe there is a fourth kind of lie: “government statistics”!
    Hope you’re all strapped in with your rain suits on.

    We help Americans find jobs and prosperity in Asia. Visit http://www.pathtoasia.com/jobs/ for details.

  • Reverie

    Gary2… pretty soon you run out of other peoples money. Who are you going to tax then??

  • John

    When the federal government began its very public war on the nation’s unborn with the passage of Roe v Wade in the early 1970′s no one really thought much of it. Now after 60 million young Americans have been put to the sword we wonder why the economy is failing. Roe v Wade is our economic Fukushima. Like that natural disaster, our demographic meltdown will be just as long lasting. Check out the birth rate of the PIIGS and the US and you’ll understand the economic dynamic unfolding right before our eyes. There is no quick way out. Opening our borders to uneducated, unskilled illegal aliens only aggravates the problem. We can thank the Democratic Party for this unmitigated disaster, but they’re not about to change their tune and admit these serial mistakes in moral and practical judgement.

  • William Oberlander

    Ben and the boys must have taken the day off or QEII money has run out yesterday.
    We need QEIII, can’t wait.
    QEIII should bring the 10 year bond up to 4% and gasoline to around $6 per gallon.
    The best part stocks and commodities will be much higher.
    Come on Ben start the presses, $6 dollar gas should start negative quarters of growth if we are not there now.
    Cheers!!

  • robert

    I am a canadian, this blog is very interesting, watched a show last night about Paulson and Bank of America. Paulson threatened Lewis, ceo BOA and made the mess much worse, many people should be in your jails and there never should have been QE1 or QE2, but rest assured there will be Qe3 and then total collapse. Canada is better prepared than the USA, but the whole world will suffer far too much, everyone says they are scared, I am scared too

  • http://yahoo garyg315

    ponzee america, im glad you all enjoyed sucking off the public democratic tit

  • 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 as I’m too busy working as a police sergeant, my desire is to help people and this is one of the ways I’m doing it.
    http://everything-survival.blogspot.com/

  • KAK

    Otown Right Guy ….Look in the mirror and watch yourself give your little poor rich boy speal, better yet say it in front of your grandmother……………..the system is rigged and you know it…………treat people with respect, your daddy may lose his wealth and you may be passing below the rest of us on the ladder of life…….Republicans are sickening and someday you may learn.

  • CitznKate

    To quote Mahatma Gandhi, a person whose religion differed greatly from mine: “You must be the change you want to see in the world.” Time to go local, people. No, not “loco”: LOCAL. We should be getting to know our close neighbors and getting involved in our local communities, participating in and strengthening economies at the MICRO level. The best places to be, and I mean NOW, are small towns in rural areas, with populations possessed of diverse sets of skills and resources, surrounded by arable land in private hands –and I don’t mean corporate mega-farms. Places like that do still exist. In fact, maybe it’s time to vote with your feet if you live in a metropolitan area or city center. You might be surprised at the sort of dwelling you could afford. There are many houses for sale or rent in small communities, as this Depression has resulted in properties continuing to stand empty in town after town, throughout the entire country. If we belong to strong communities in which cooperation and mutual benefit are sought and encouraged, we can leave the world a better place for those who come after us. We also need to cease with the negative waves. Much of what I read on the Internet reeks of negativity, even on the preparedness blogs, where it often seems that the life envisioned after a cataclysmic event is a dreary drudgery of nothing but constantly grubbing for the basics of existence day after day, living in fear of marauding hordes bearing down on the fortified compounds of heavily armed families who are posting watches ’round the clock to try to fend them off. To some this seems to represent a great adventure to be anticipated and relished, which I find inexplicable. At any rate, that sort of situation will not necessarily occur in all locations, and where it does it will likely not last far beyond the first winter, so we need to think past that stage.

    Cheers,
    Kate

  • robert

    when will people wake up
    communist takeover of america is IN PLAY NOW
    the ten planks of the communist manifesto
    have been programing the mains stream
    public indoctination centers for YEARS
    youtube charlotte iserbyt and the deliberate dumbing down of american students

    http://www.henrymakow.com if you believe government tells you anything but lies
    Look up WHOS REALLY IN THE GOVERNMENT
    obama the muslim liar takes off his ring and watch for ramadan because HE IS A MUSLIM

    wake up
    http://www.ohcanadamovie.com our bought and sold out land
    http://www.gigisup.net
    wake up people

  • GREG

    GOOGLE THE “WHTE HAT REPORTS” IF YOU WANT TO KNOW THE TRUTH. OUR LEADER ARE CORRUPT TO THE CORE. THEY HAVE SOLD THEIR ETERNAL SOULS FOR MONEY, GREED AND POWER. LET’S SEE HOW FAR IT GET’S THEM ON CHECK OUT DAY….THEY WILL REAP WHAT THEY SOW…

  • Mary

    Tax the Bilderburg group at 45% and we would have a surplus….

  • dave

    After following the fall out and pain of the current recession I am absolute sure that “THIS IS IT …” We are just witnessing the pain steaking truth …. the economic collapse is certain, it is for real ……

    The next 6-12 months are going to be crucial, not in trying to save the international economies but ruther just to try and stay alive ….

    Look at the natural disasters … look at the man made disasters …..
    There is absolutely NO solution …..!!!!!!

    The end is near … and we are heading for a fall …..

    The end of this current world order …and a new beginning … The new heaven and the new earth ….

  • Earth Cruiser

    Nationalize the Federal Reserve, Re-instate the gold Standard, collect all debts owed to the U.S. for saving the world for the past 100 yrs, Flat tax for all without exception, Outsourced production jobs demand an equal import tax for products brought back into the country. No Federal subsidies to farmers not to grow grain that could be used to pay off debts to other nations, stop all border intrusions by training our military along the borders, create citizenship methodology for 20m immigrants already here, disband 50% of all Federal government agencies, return to states the rights to rule, let the rest of the world sort out their own issues, Yasser Arafat was correct in stating “we are killing each other over whom has the best imaginary friend” keep your personal beliefs in check, you’re probably not 100% right either. The 10 commandments have no religious basis they are basic human interaction principals. If you wish your future generations to be a serfs and slaves continue to hide your head in the sand and expect the present government to do what is right. If not, make a difference vote out every incumbent; let’s change the entire House and Senate. IF WE DON’T HELP OURSELVES NOW, YOU’RE CHILDREN AND GRANDCHILDREN WILL PAY A PRICE YOU’RE NOT WILLING TO PAY. STAND UP AMERICA, DO SOMETHING

  • sharky

    I’m not worried. The Aliens from a more benevolent and enlightened planet will save us.

  • Anton

    “…collect all debts owed to the U.S. for saving the world for the past 100 yrs..” – Earth Cruiser, you are American lunatic.

  • jimmy Kay

    The Japanese Economy is glowing, absolutely glowing. Unfortunately all of the glow is radioactively induced. If we can’t even count on the powers that be to properly site and maintain a simple nuclear water boiler in a country where the risks are known, how can we count on the washington/wall street machine to do anything correctly to stop the economic depression and collapse?

    The powers that be will continue to loot the government to pad their pockets and paper over the rot until the whole shebang collapses. I had hopes for a slow gradual decline that could allow people to prepare, but the sheer greed and incompetency involved guarantees an epic collapse.

    Prepare as best ye may. Its not like anyone else is looking out for your best interests, so you better.

  • Greg Hughes

    Major financial collapse in the next few months? Who cares if the next prediction is the world will end on December 21, 2012? For me I have a life to live and nothing will happen. I will have fun with my family and friends, ride my Harley and go to work. Everything will be okay for all. So wishing all a long and happy life.

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