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 European officials are openly admitting that the two largest banks in Cyprus are "insolvent", and it is now being reported that Cyprus Popular Bank only has "enough liquidity to cover the next few hours". Of course all banks in Cyprus are officially closed until Tuesday at the earliest, but there have been long lines at ATMs all over Cyprus as people scramble to get whatever money they can out of the banks. Unfortunately, some ATMs appear to be "malfunctioning" and others appear to have already run out of cash. You can see some photos of huge lines at one ATM in Cyprus right here. Some businesses are now even refusing to take credit card payments. This is creating an atmosphere of panic on the streets of Cyprus. Meanwhile, the EU is holding a gun to the head of the Cyprus financial system. Either Cyprus meets EU demands by Monday, or liquidity for the banks will be totally cut off and Cyprus will be forced out of the euro. It is being reported that European officials believe that the "economy is going to tank in Cyprus no matter what", and that it would be okay to let the financial system of Cyprus crash and burn if politicians in Cyprus are not willing to do what they have been ordered to do. Apparently European officials are very confident that the situation in Cyprus can be contained and that it will not spread to other European nations. (Read More....)
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 If the economy is improving, then why are many of the largest retail chains in America closing hundreds of stores? When I was growing up, Sears, J.C. Penney, Best Buy and RadioShack were all considered to be unstoppable retail powerhouses. But now it is being projected that all of them will close hundreds of stores before the end of 2013. Even Wal-Mart is running into problems. A recent internal Wal-Mart memo that was leaked to Bloomberg described February sales as a "total disaster". So why is this happening? Why are major retail chains all over America collapsing? Is the "retail apocalypse" upon us? Well, the truth is that this is just another sign that the U.S. economy is falling apart right in front of our eyes. Incomes are declining, taxes are going up, government dependence is at an all-time high, and according to the Bureau of Labor Statistics the percentage of the U.S. labor force that is employed has been steadily falling since 2006. The top 10% of all income earners in the U.S. are still doing very well, but most U.S. consumers are either flat broke or are drowning in debt. The large disposable incomes that the big retail chains have depended upon in the past simply are not there anymore. So retail chains all over the United States are now closing up unprofitable stores. This is especially true in low income areas. (Read More....)
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 Europe is not just heading into another recession. The truth is that Europe is heading into a full-blown depression. The economy of the EU is actually larger than the U.S. economy, and we are watching it melt down right in front of our eyes. Things just continue to get worse in Europe, and yet somehow the authorities over in Europe just keep insisting that everything is going to be "just fine". Well, everything is not "just fine" over in Europe right now. Unemployment in the eurozone has just hit another brand new record high. In some nations in Europe, the unemployment rate is already significantly higher than anything the United States experienced during the Great Depression of the 1930s. Europe is a continent that is collapsing under the weight of its own debt, and this is just the beginning. A lot more pain is on the way. Officials over in Europe are trying to hold the European financial system together with duct tape and prayers, but it could literally fall apart at any moment. Europe has a much larger banking system than the United States does, so when a financial collapse happens in Europe, it is going to be very significant for the entire globe. Sadly, most Americans do not even pay attention to much of anything that is happening in Europe. They tend to think that the United States is the center of the universe and that as long as we are fine that everything will be okay. Well, all of those people who are not paying attention need to wake up. First of all, the U.S. economy is most definitely in decline. Secondly, the European economy is imploding right in front of our eyes and Europe is going to end up dragging the entire globe down with it. (Read More....)
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 The United States is clearly in an advanced state of decline. Many people around the world (and even inside America) rejoice at this, but not me. I mourn for the country that I was born in and that I still love. Yes, the United States has never been perfect, but the Republic that our Founding Fathers started truly has been a light to the rest of the world in a lot of ways over the centuries. Unfortunately, our foundations are badly rotting and our nation is collapsing all around us. Many Americans like to think that the United States is greater today than it has ever been before, but the truth is that America is like a patient that has stage 4 cancer that has spread to almost every area of the body. Our nation is being destroyed in thousands of different ways, and more distressing news emerges with each passing day. This article will mainly focus on the economic decline of America, but much could also be said about our social, political, moral and spiritual decline as well. We are simply not the same country that we used to be. Americans are proud, selfish, greedy, arrogant, ungrateful, treacherous and completely addicted to entertainment and pleasure. Our country is literally falling apart all around us, but most Americans are so plugged into entertainment that they can't even be bothered to notice what is happening. Most Americans seem to assume that we will always have endless prosperity just because of who we are, but unfortunately that simply is not true. We inherited the greatest economic machine the world has ever seen and we have wrecked it, and now a very painful day of reckoning is approaching. But most people will not understand until it is too late. (Read More....)
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 How in the world is someone supposed to actually prepare for an economic collapse? What should you do with your money? How can you make sure that your family is going to be okay? How can you prepare if your resources are extremely limited? These are the kinds of questions people ask me all the time. Once people understand that the economy has been collapsing and will continue to collapse, then the next step for most of them is that they want to get prepared for the storm that is coming. So where should someone get started? Well, the truth is that no two people are facing the exact same set of circumstances, so preparation is going to look different for each individual. But there are certain core principles that we can all benefit from. For example, when a financial storm is coming that is not the time to be blowing thousands of dollars on vacations and new toys. You would be surprised at how many people there are that claim that they have no extra money in their budgets and yet somehow have plenty of money to run down to Wal-Mart and buy a big stack of DVDs. When times are difficult, each hard-earned dollar becomes much more precious, and we all need to start getting into the habit of making the most out of our limited resources. The seemingly endless prosperity that we have all been enjoying for decades is coming to an end, and most of us have absolutely no experience on how to deal with truly hard times. If you are under the age of 60, it might be a really good idea to read a book or two on what conditions were like during the Great Depression of the 1930s. There is a lot that we can learn from our own history. (Read More....)
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34 Signs That America Is In Decline
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