The 11th Hour: 8 Examples Of Mainstream Media Sources Warning Us Of Imminent Economic Disaster

Are we on the verge of another great financial crisis, a devastating recession and a horrific implosion of the global debt bubble?  On my website I have been relentlessly warning my readers about the inevitable consequences of our very foolish actions, but now the mainstream media is beginning to sound just like The Economic Collapse Blog.  The coming crisis is so close now that a lot of them are starting to see it, and of course economic disaster is already a reality for much of the rest of the planet.  For years, the mainstream media told us that things would get better, and in a lot of ways we did see some improvement.  But now the tone of the mainstream media has become quite ominous, and that is definitely not a positive sign.  The following are 8 examples of mainstream media sources warning us of imminent economic disaster…

#1 Forbes: “Disaster Is Inevitable When America’s Stock Market Bubble Bursts”

As shown in this report, the U.S. stock market is currently trading at extremely precarious levels and it won’t take much to topple the whole house of cards. Once again, the Federal Reserve, which was responsible for creating the disastrous Dot-com bubble and housing bubble, has inflated yet another extremely dangerous bubble in its attempt to force the economy to grow after the Great Recession. History has proven time and time again that market meddling by central banks leads to massive market distortions and eventual crises. As a society, we have not learned the lessons that we were supposed to learn from 1999 and 2008, therefore we are doomed to repeat them.

The purpose of this report is to warn society of the path that we are on and the risks that we are facing.

#2 CNBC: “Tech stock sell-off could be just beginning if trade war with China worsens”

Congressional scrutiny of social media companies and fears of new regulation pummeled their stocks, but other tech names could also soon be vulnerable to a new round of selling pressure if President Donald Trump goes through with new tariffs on Chinese goods.

#3 Bloomberg: “Emerging-market rout is longest since 2008 as confidence cracks”

For stocks, it’s 222 days. For currencies, 155 days. For local government bonds, 240 days.

This year’s rout in emerging markets has lasted so long that it’s taken even the most ardent bears by surprise. Not one of the seven biggest selloffs since the financial crisis — including the so-called taper tantrum — inflicted such pain for so long on the developing world.

#4 CNN: “Emerging Markets Look Sick. Will They Infect Wall Street?”

Chinese stocks are is in a bear market. Turkey’s currency has collapsed. South Africa has stumbled into a recession. Not even an IMF bailout has stemmed the bleeding in Argentina.

The storm rocking emerging markets has its origins in Washington. Vulnerable currencies plunged as the US Federal Reserve steadily raised interest rates. And President Donald Trump’s trade crackdown added gasoline to the fire.

The trouble could spread, infecting other emerging markets or even Wall Street.

#5 The Motley Fool: “6 signs the next recession might be closer than we realize”

To be perfectly clear, trying to predict when recessions will occur is pure guesswork. Top market analysts have called for pullbacks in the market, unsuccessfully, in pretty much every year since the Great Recession ended. But the economic cycle doesn’t lie: recessions are inevitable. And in my estimation, we’re probably closer to the next recession than you realize.

How can I be so certain? Well, I can’t. Remember, I just noted there’s virtually no certainty when it comes to predicting when recessions will occur. There are, however, six warning signs that suggest a recession could be, in relative terms, around the corner.

#6 Forbes: “U.S. Household Wealth Is Experiencing An Unsustainable Bubble”

Since the dark days of the Great Recession in 2009, America has experienced one of the most powerful household wealth booms in its history. Household wealth has ballooned by approximately $46 trillion or 83% to an all-time high of $100.8 trillion. While most people welcome and applaud a wealth boom like this, my research shows that it is actually another dangerous bubble that is similar to the U.S. housing bubble of the mid-2000s. In this piece, I will explain why America’s wealth boom is artificial and heading for a devastating bust.

#7 Savannah Now: “Global debt soars, along with fears of crisis ahead”

“We were supposed to correct a debt bubble,” said David Rosenberg, chief economist at Gluskin Sheff, a wealth-management firm. “What we did instead was create more debt.”

#8 CNBC: “The emerging market crisis is back. And this time it’s serious”

But markets are feeling a sense of deja vu. Blame it on a stronger dollar, escalating tensions since President Donald Trump came to power, worries over a full-fledged trade war with China or rising interest rates in the U.S., this time around the crisis seems to have entered a new phase.

The damage is far more widespread. The crisis has engulfed countries across the globe — from economies in South America, to Turkey, South Africa and some of the bigger economies in Asia, such as India and China. A number of these countries are seeing their currency fall to record levels, high inflation and unemployment, and in some cases, escalating tensions with the United States.

I don’t think that we have seen such ominous declarations from the mainstream media since the last global financial crisis in 2008.

And the mainstream media is not alone.  Yesterday, I discussed the fact that tech executives on the west coast are setting up luxury survival bunkers in New Zealand in order to prepare for what is ahead.

They all know what is coming, and they also know that it is approaching very rapidly.

This chapter in American history is not going to end well.  On some level, all of us understand this.  Storm clouds have been building on the horizon for quite some time and the warning signs are all around us.

Our day of reckoning may have been delayed, but it was not canceled.  America has a date with destiny, and it is going to be exceedingly painful.

This article originally appeared on The Economic Collapse Blog.  About the author: Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

Bankers And Tech Executives Know The Collapse Of Society Is Coming And Are Feverishly Prepping For It

While most of the general population has been lulled into a false sense of security, bankers and tech executives are spending millions upon millions of dollars to prepare for the collapse of society.  Do they know something that the rest of us do not?  Apparently talk of doomsday scenarios has become very popular at Silicon Valley dinner parties, and as you will see below, having a plan to escape to New Zealand appears to be a very popular “Plan B” among the tech elite.  Of course this is not just a west coast phenomenon.  Many bankers on the east coast have similar concerns and have also been developing contingency plans.  Ladies and gentlemen, they know what is coming and they are feverishly getting prepared for it.  In fact, J.P. Morgan Chase’s head quant just publicly declared that the next financial crisis is going to result in “social unrest not seen in the U.S. in half a century”.  The following comes from CNBC

Sudden, severe stock sell-offs sparked by lightning-fast machines. Unprecedented actions by central banks to shore up asset prices. Social unrest not seen in the U.S. in half a century.

That’s how J.P. Morgan Chase‘s head quant, Marko Kolanovic, envisions the next financial crisis. The forces that have transformed markets in the last decade, namely the rise of computerized trading and passive investing, are setting up conditions for potentially violent moves once the current bull market ends, according to a report from Kolanovic sent to the bank’s clients on Tuesday. His note is part of a 168-page mega-report, written for the 10th anniversary of the 2008 financial crisis, with perspectives from 48 of the bank’s analysts and economists.

If you visit my website on a regular basis, you already know that I have been warning that rising levels of anger and frustration are rapidly eroding the thin veneer of civilization that we all take for granted on a daily basis.

Back in 1968, the Vietnam war was in full swing, a presidential election was approaching and two of the most prominent leaders in America had just been assassinated.  Chaos erupted in the streets as a result, and Kolanovic is absolutely convinced that we will see a similar eruption soon

Kolanovic closes his report on an ominous note: “The next crisis is also likely to result in social tensions similar to those witnessed 50 years ago in 1968.”

That year saw the peak of both the Vietnam War and anti-war movement and the assassinations of Martin Luther King Jr. and Sen. Robert F. Kennedy. Today, the internet and social media are helping to polarize groups, and events including the U.S. election and Brexit show tensions that will probably worsen in the next crisis, he said.

When society begins to come apart at the seams, many among the elite do not plan to stick around for the day of reckoning.

A Bloomberg article that was just published entitled “The Super Rich of Silicon Valley Have a Doomsday Escape Plan” has some amazing revelations.  According to the article, over the past two years seven “Silicon Valley entrepreneurs” have purchased survival bunkers from a company in Texas and shipped them to locations in New Zealand…

In recent months, two 150-ton survival bunkers journeyed by land and sea from a Texas warehouse to the shores of New Zealand, where they’re buried 11 feet underground.

Seven Silicon Valley entrepreneurs have purchased bunkers from Rising S Co. and planted them in New Zealand in the past two years, said Gary Lynch, the manufacturer’s general manager. At the first sign of an apocalypse — nuclear war, a killer germ, a French Revolution-style uprising targeting the 1 percent — the Californians plan to hop on a private jet and hunker down, he said.

It would be weird enough if one wealthy individual did this, but the count is now up to seven.

So why have they chosen New Zealand?

Well, it is because New Zealand doesn’t have any enemies, English is spoken there, it is very stable, and it is very far away from everything else.

Plus, the country allows wealthy individuals “to essentially buy residency”

The nation allows emigres to essentially buy residency through investor visas, and rich Americans have poured a fortune into the country, often by acquiring palatial estates.

Billionaire hedge-fund honcho Julian Robertson owns a lodge overlooking Lake Wakatipu in Queenstown, the South Island’s luxury resort destination. Fidelity National Financial Inc. Chairman Bill Foley has a homestead in the Wairarapa region, north of Wellington, and Titanic director James Cameron bought a mansion nearby at Lake Pounui.

There has been a significant exodus of wealthy Americans to New Zealand in recent years, and once things start getting really bad there will be a steady stream of private jets taking off from locations in the U.S. and landing in that beautiful nation.

Of course not everyone plans to leave.  Luxury survival bunkers are also being constructed all over the heartland of America, but they aren’t cheap.

For example, it was being reported that a “penthouse” inside the Survival Condo in Kansas was selling for more than four million dollars

Another shelter for the ultra-wealthy is the Survival Condo in Kansas.

It was designed to withstand a nuclear blast or nature’s worst, but is far cry from what you might expect an underground shelter to look like.

There is a cinema, a swimming pool with a water slide, a spa, a lounge, a gym and an indoor shooting range to keep occupants entertained.

But survival comes at a price.

Last year, it was reported that plush 3,600sq ft penthouses within the shelter – a former missile silo – were selling for $4.5m (£3.6m).

Needless to say, anyone outside of the top 1 percent is not going to make it into the Survival Condo.

And in order to keep the rest of us out, it has an armory that is “stocked with guns and ammo”

Additionally, an armory stocked with guns and ammo is in place in case of an attack by non-members, and is also available for owners to practice.

The bunker is able to sustain its owners for up to five years, by raising tilapia in fish tanks and growing hydroponic vegetables under lamps.

The elite can see what so many of the rest of us can also see.

Our future looks very troubling, and it appears to be wise to get prepared for what is coming in advance.

Unfortunately, the rest of us don’t have the money to buy a luxury survival bunker or to fly to New Zealand on a private jet.  Money may not be able to buy happiness, but it can buy a pretty good escape plan.

This article originally appeared on The Economic Collapse Blog.  About the author: Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

Read This First Before You Decide That Preppers Are Crazy

Do you believe that preppers are a few cards short of a full deck?  Do you assume that anyone that is “preparing for doomsday” does not have their elevator going all the way to the top floor?  Well, you might want to read this first before you make a final decision that all preppers are crazy.  The information that you are about to read shook me up a bit when I first looked it over.  To be honest, I had no idea how incredibly vulnerable our economic system is to a transportation disruption.  I am continually getting emails and comments on my websites asking “how to prepare” for what is coming, so when I came across this information I knew that I had to share it with all of you.  Hopefully what you are about to read will motivate you to prepare like never before, and hopefully you will share this information with others.

Originally, I was going to write an article about the rising unemployment in Europe today.  Did you know that unemployment in the eurozone is now at a 15 year high?  It has risen for 10 months in a row with no end in sight.

But I have written dozens of articles about the economic crisis in Europe already.  So before starting on that article I started thinking of all the “preparation” questions I have been getting lately and I went over and checked out one of my favorite preparation websites: shtfplan.com.

Well, an article had just been posted over there about a report put out by the American Trucker Associations entitled “When Trucks Stop, America Stops“.

I went and found that original report and I was stunned as I read it.

The truth is that our “just in time” inventory and delivery systems leave us incredibly vulnerable to a nationwide disaster.

You see, it is very expensive to hold and store inventory, so most manufacturers and retailers rely on a continual flow of deliveries that are scheduled to arrive “just in time”, and this significantly reduces their operating expenses.

This is considered to be good business practice for manufacturers and retailers, but it also means that if there was a major nationwide transportation disruption that our economic system would grind to a halt almost immediately.

Once store shelves are picked clean, they would not be able to be replenished until trucks could get back on the road.  In the event of a major nationwide disaster, that could be quite a while.

So what could potentially cause a nationwide transportation shutdown?

Well, it is easy to imagine a lot of potential scenarios – a volcanic eruption, a historic earthquake, an EMP attack, a solar megastorm, a war, a major terror attack, an asteroid strike, a killer pandemic, mass rioting in U.S. cities, or even martial law.

If something caused the trucks to stop running, life in America would immediately start changing.

So exactly what would that look like?

The following is an excerpt from the report mentioned above put out by the American Trucker Associations entitled “When Trucks Stop, America Stops“….

*****

A Timeline Showing the Deterioration of Major Industries Following a Truck Stoppage

The first 24 hours

• Delivery of medical supplies to the affected area will cease.
• Hospitals will run out of basic supplies such as syringes and catheters within hours. Radiopharmaceuticals will deteriorate and become unusable.
• Service stations will begin to run out of fuel.
• Manufacturers using just-in-time manufacturing will develop component shortages.
• U.S. mail and other package delivery will cease.

Within one day

• Food shortages will begin to develop.
• Automobile fuel availability and delivery will dwindle, leading to skyrocketing prices and long lines at the gas pumps.
• Without manufacturing components and trucks for product delivery,
assembly lines will shut down, putting thousands out of work.

Within two to three days

• Food shortages will escalate, especially in the face of hoarding and consumer panic.
• Supplies of essentials—such as bottled water, powdered milk, and
canned meat—at major retailers will disappear.
• ATMs will run out of cash and banks will be unable to process
transactions.
• Service stations will completely run out of fuel for autos and trucks.
• Garbage will start piling up in urban and suburban areas.
• Container ships will sit idle in ports and rail transport will be disrupted, eventually coming to a standstill.

Within a week

• Automobile travel will cease due to the lack of fuel. Without autos and busses, many people will not be able to get to work, shop for groceries, or access medical care.
• Hospitals will begin to exhaust oxygen supplies.

Within two weeks

• The nation’s clean water supply will begin to run dry.

Within four weeks

• The nation will exhaust its clean water supply and water will be safe for drinking only after boiling. As a result gastrointestinal illnesses will increase, further taxing an already weakened health care system.

This timeline presents only the primary effects of a freeze on truck travel. Secondary effects must be considered as well, such as inability to maintain telecommunications service, reduced law enforcement, increased crime, increased illness and injury, higher death rates, and likely, civil unrest.

*****

Earlier in the report, the reasons why America’s water supply would be in such jeopardy are described in greater detail….

According to the American Water Works Association, Americans drink more than one billion glasses of tap water per day. For safety and security reasons, most water supply plants maintain a larger inventory of supplies than the typical business. However, the amount of chemical storage varies significantly and is site specific. According to the Chlorine Institute, most water treatment facilities receive chlorine in cylinders (150 pounds and one ton cylinders) that are delivered by motor carriers. On average, trucks deliver purification chemicals to water supply plants every seven to 14 days. Without these chemicals, water cannot be purified and made safe for drinking. Without truck deliveries of purification chemicals, water supply plants will run out of drinkable water in 14 to 28 days. Once the water supply is drained, water will be deemed safe for drinking only when boiled. Lack of clean drinking water will lead to increased gastrointestinal and other illnesses, further taxing an already weakened healthcare system.

Can you see why I always recommend that you make sure that you and your family have access to fresh water and a way to purify it?

This report should be very sobering for all of us.

What would you and your family do if you had no food, no clean water and the stores were shut down because their supplies were gone?

An article by Tess Pennington entitled “Emergency Items: What Will Disappear First” contains a list of 100 things that are likely to disappear from store shelves first.  The following are the first 10 things on her list….

1. Generators (Good ones cost dearly. Gas storage, risky. Noisy…target of
thieves; maintenance etc.)
2. Water Filters/Purifiers
3. Portable Toilets
4. Seasoned Firewood. Wood takes about 6 – 12 months to become dried, for home
uses.
5. Lamp Oil, Wicks, Lamps (First Choice: Buy CLEAR oil. If scarce, stockpile
ANY!)
6. Coleman Fuel. Impossible to stockpile too much.
7. Guns, Ammunition, Pepper Spray, Knives, Clubs, Bats & Slingshots.
8. Hand-can openers, & hand egg beaters, whisks.
9. Honey/Syrups/white, brown sugar
10. Rice – Beans – Wheat

You can find the rest of the list right here.

Most Americans just assume that they will always be able to run out to the supermarket or to Wal-Mart and buy anything that they need.

But if the trucks stop running that will change almost overnight.

After reading the information above, does anyone out there still believe that preppers are crazy?

The truth is that there are good, solid reasons why millions of Americans have been storing up food, water filters and other supplies.

Our world is becoming increasingly unstable, and all of us need to get educated about how to prepare for the difficult years that are coming.

One nightmarish event can change everything that we take for granted in a single moment.

Just remember what happened after Hurricane Katrina.  Even though that was only a regional disaster, millions of people had their lives completely turned upside down by that tragedy.

Don’t make the mistake of assuming that just because the U.S. has always known tremendous peace and prosperity since World War II that things will always be that way.

Our lives will only continue to be “normal” as long as the trucks continue running.

When the trucks stop running in America, there will be mass chaos.

Are you prepared for that?

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