The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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We Are In FAR Worse Shape Than We Were Just Prior To The Last Great Financial Crisis

Crushed Car By UCFFoolNone of the problems that caused the last financial crisis have been fixed.  In fact, they have all gotten worse.  The total amount of debt in the world has grown by more than 40 percent since 2007, the too big to fail banks have gotten 37 percent larger, and the colossal derivatives bubble has spiraled so far out of control that the only thing left to do is to watch the spectacular crash landing that is inevitably coming.  Unfortunately, most people do not know the information that I am about to share with you in this article.  Most people just assume that the politicians and the central banks have fixed the issues that caused the last great financial crisis.  But the truth is that we are in far worse shape than we were back then.  When this financial bubble finally bursts, the devastation that we will witness is likely to be absolutely catastrophic. (Read More....)

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A Quadrillion Yen And Counting – The Japanese Debt Bomb Could Set Off Global Panic At Any Moment

Shibuya Crossing in Tokyo, JapanHow much is 1,000,000,000,000,000 yen worth?  Well, a quadrillion yen is worth approximately 10.5 trillion dollars.  It is an amount of money that is larger than the "the economies of Germany, France and the U.K. combined".  It is such an astounding amount of debt that it is hard to even get your mind around it.  The government debt to GDP ratio in Japan will reach 247 percent this year, and the Japanese currently spend about 50 percent of all central government tax revenue on debt service.  Realistically, there are only two ways out of this overwhelming debt trap for the Japanese.  Either they default or they try to inflate the debt away.  At this point, the Japanese have chosen to try to inflate the debt away.  They have initiated the greatest quantitative easing experiment that a major industrialized nation has attempted since the days of the Weimar Republic.  Over the next two years, the Bank of Japan plans to zap 60 trillion yen into existence out of thin air and use it to buy government bonds.  By the time this program is over, the monetary base in Japan will have approximately doubled.  But authorities in Japan are desperate.  They know that the Japanese debt bomb could set off global panic at any time, and they are trying to find a way out that will not cause too much pain. (Read More....)

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40 Stats That Prove The U.S. Economy Has Already Been Collapsing Over The Past Decade

40The "coming economic collapse" has already been happening.  You see, the truth is that the economic collapse is not a single event.  It has already started, it is happening right now, and it will accelerate during the years ahead.  The statistics in this article show very clearly that the U.S. economy has fallen dramatically over the past ten years or so.  Unfortunately, there are lots of mockers out there that love to mock the idea of an economic collapse even though one is happening right in front of our eyes.  They love to say stuff like this (and I am paraphrasing): "An economic collapse is never going to happen.  We can consume far more wealth than we produce forever.  We can pile up gigantic mountains of debt forever.  There is no way that the party is over.  In fact, the party is just getting started.  Woo-hoo!"  That sounds absolutely ridiculous, but "economists" and "journalists" actually write things that reflect these kinds of sentiments every single day.  They do not seem alarmed about the fact that our national debt is nearly 17 times larger than it was 30 years ago.  They do not seem alarmed about the fact that the total amount of debt in our country is more than 28 times larger than it was 40 years ago.  They do not seem alarmed about the fact that our economic infrastructure is being absolutely gutted and we are steadily becoming poorer as a nation.  They just think that the magic formula of print, borrow, spend and consume can go on indefinitely.  Unfortunately, the truth is that a massive economic disaster has already started to unfold.  We inherited the greatest economic machine in the history of the world, but we totally wrecked it.  We have been able to live far, far beyond our means for the last couple of decades thanks to the greatest debt bubble in the history of the planet, but now that debt bubble is getting ready to burst.  Anyone with half a brain should be able to see what is coming.  Just open your eyes and look at the facts.  The following are 40 stats that prove the U.S. economy has already been collapsing over the past decade... (Read More....)

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Farewell Bernanke – Thanks For Inflating The Biggest Bond Bubble The World Has Ever Seen

Barack Obama And Ben BernankeFederal Reserve Chairman Ben Bernanke is on the way out the door, but the consequences of the bond bubble that he has helped to create will stay with us for a very, very long time.  During Bernanke's tenure, interest rates on U.S. Treasuries have fallen to record lows.  This has enabled the U.S. government to pile up an extraordinary amount of debt.  During his tenure we have also seen mortgage rates fall to record lows.  All of this has helped to spur economic activity in the short-term, but what happens when interest rates start going back to normal?  If the average rate of interest on U.S. government debt rises to just 6 percent, the U.S. government will suddenly be paying out a trillion dollars a year just in interest on the national debt.  And remember, there have been times in the past when the average rate of interest on U.S. government debt has been much higher than that.  In addition, when the U.S. government starts having to pay more to borrow money so will everyone else.  What will that do to home sales and car sales?  And of course we all remember what happened to adjustable rate mortgages when interest rates started to rise just prior to the last recession.  We have gotten ourselves into a position where the U.S. economy simply cannot afford for interest rates to go up.  We have become addicted to the cheap money made available by a grossly distorted financial system, and we have Ben Bernanke to thank for that.  The Federal Reserve is at the very heart of the economic problems that we are facing in America, and this time is certainly no exception. (Read More....)

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21 Facts About America’s Decaying Infrastructure That Will Blow Your Mind

You can tell a lot about a nation by the condition of the infrastructure.  So what does our infrastructure say about us?  It says that we are in a very advanced state of decay.  At this point, much of America is being held together with spit, duct tape and prayers.  Our roads are crumbling and thousands of our bridges look like they could collapse at any moment.  Our power grid is ancient and over a trillion gallons of untreated sewage is leaking from our aging sewer systems each year.  Our airports and our seaports are clogged with far more traffic than they were ever designed to carry.  Approximately a third of all of the dam failures that have taken place in the United States since 1874 have happened during the past decade.  Our national parks and recreation areas have been terribly neglected and our railroads are a bad joke.  Hurricane Katrina showed how vulnerable our levees are, and drinking water systems all over the country are badly outdated.  Sadly, at a time when we could use significant new investment in infrastructure, our spending on infrastructure is actually way down.  Back during the 50s and the 60s, the U.S. was spending between 3 and 4 percent of GDP on infrastructure.  Today, that figure is down to about 2.4 percent.  But of course we don't have any extra money to spend on infrastructure because of our reckless spending and because of the massive amount of debt that we have accumulated.  While the Obama administration is spending more than half a million dollars to figure out why chimpanzees throw poop, our national infrastructure is literally falling apart all around us.  Once upon a time nobody else on the planet could match our infrastructure, and now we are in the process of becoming a joke to the rest of the world. (Read More....)

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Ben Bernanke Says That His Son Will Graduate With $400,000 Of Student Loan Debt

Who ever imagined that Ben Bernanke would become a poster child for the student loan debt problem in America?  Recently Bernanke told Congress that his son will graduate from medical school with about $400,000 of student loan debt.  For most Americans, such a staggering amount of debt would almost certainly guarantee a lifetime of debt slavery.  Unfortunately, Bernanke's son is not alone.  According to the Federal Reserve Bank of New York, approximately 167,000 Americans have more than $200,000 of student loan debt.  The cost of a college education has increased much more rapidly than the rate of inflation over the past several decades, and most students enter the "real world" today with a debt burden that will stay with them for most of their working lives.  In an economy where there are so few good jobs for college graduates, it can be incredibly difficult to get married, buy a house or afford to have children when you are drowning in student loan debt.  It would be hard to overstate the financial pain that student loans are causing many young adults in America today.  The student loan debt problem is a national crisis and it is not going away any time soon. (Read More....)

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25 Signs That The Financial World Is About To Hit The Big Red Panic Button

Most of the worst financial panics in history have happened in the fall.  Just recall what happened in 1929, 1987 and 2008.  Well, September 2011 is about to begin and there are all kinds of signs that the financial world is about to hit the big red panic button.  Wave after wave of bad economic news has come out of the United States recently, and Europe is embroiled in an absolutely unprecedented debt crisis.  At this point there is a very real possibility that the euro may not even survive.  So what is causing all of this?  Well, over the last couple of decades a gigantic debt bubble has fueled a tremendous amount of "fake prosperity" in the western world.  But for a debt bubble to keep going, the total amount of debt has to keep expanding at an ever increasing pace.  Unfortunately for the global economy, sources of credit are starting to dry up.  That is why you hear terms like "credit crisis" and "credit crunch" thrown around so much these days.  Without enough credit to feed the monster, the debt bubble is going to burst.  At this point, virtually the entire global economy runs on credit, so when this debt bubble bursts things could get really, really messy. (Read More....)

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