It has been called “the long extinction”. Our planet is in the process of dying, and as you will see below, this process of death and destruction appears to be accelerating. According to a report that was put out by the World Wildlife Fund and the Zoological Society of London, the number of wild animals around the globe appears to be decreasing at a rate of about 2 percent a year. 2 percent may not sound like a lot to you, but over 10 years that would mean that 20 percent of all wild animals in the world would be gone. And according to that same report, it is being projected that the total loss of wildlife during the 50 year period from 1970 to 2020 will be a staggering 67 percent…
The number of wild animals living on Earth is set to fall by two-thirds by 2020, according to a new report, part of a mass extinction that is destroying the natural world upon which humanity depends.
The analysis, the most comprehensive to date, indicates that animal populations plummeted by 58% between 1970 and 2012, with losses on track to reach 67% by 2020. Researchers from WWF and the Zoological Society of London compiled the report from scientific data and found that the destruction of wild habitats, hunting and pollution were to blame.
In other words, we are watching a global slow-motion extinction event which will ultimately claim hundreds, if not thousands, of species.
And as I mentioned above, this slow-motion extinction event appears to be accelerating.
In recent years, mass die-off events have been popping up in the headlines with startling regularity. Fish, birds and animals are dying off all over the planet in absolutely frightening numbers. One website that tracks these things says that there have been 152 mass death events in 48 different countries so far this year.
When something happens on the other side of the world, most Americans don’t seem to care very much, so let me share with you just a couple of examples of this phenomenon from inside the United States. This first example comes from Atlanta…
Someone, or something, is killing thousands of birds in Atlanta. Since spring, the death toll began rising every week.
For Atlanta office workers, the dead birds are a sad sight at their doorstep. Now, Audubon Society volunteers are tracking and finding the dead or dying birds, many of them in Sandy Springs, Dunwoody and Buckhead.
If the death of thousands of birds in Atlanta does not get your attention, perhaps the death of millions of fish on the west coast will. The following comes from Natural News…
As the salmon are dying by the millions, the government issued an emergency order along the western U.S. coast to cancel the spring king, or Chinook, salmon fishing activities. According to the California Department of Fish and Wildlife, salmon runs have dropped to record levels. Experts predict that the return of spawning Chinook salmon to the Klamath River will hit its lowest point ever this fall. It will be a huge challenge and difficult year for ocean salmon fishermen, especially in Oregon and California, reported the Council Chair Herb Pollard.
“We’ve been in a period of low productivity, not just on the Taku, but on several rivers up and down the coast,” said Juneau Area Management Biologist Daniel Teske, who expects a second-straight year of record-low salmon returning to their birthplace. Teske added that he is almost certain that the increased die-off must be happening in the ocean since all four rivers are being affected by low returns of the Southeast king salmon.
Of course the cold, hard reality of the matter is that everything around us is in the process of dying and deteriorating, and this even includes the human race.
If you don’t believe this, you may want to consider research from Cambridge University that found that human bodies are “significantly smaller” than they were thousands of years ago and that human brains are also smaller than they once were…
An earlier study by Cambridge University found that mankind is shrinking in size significantly.
Experts say humans are past their peak and that modern-day people are 10 percent smaller and shorter than their hunter-gatherer ancestors.
And if that’s not depressing enough, our brains are also smaller.
The findings reverse perceived wisdom that humans have grown taller and larger, a belief which has grown from data on more recent physical development.
On top of all that, scientists have known for a very long time that the human race is heading for an inevitable “mutational meltdown”. The following is an excerpt from a study that was originally published by Gerald H. McKibben and Everett C. McKibben…
Geneticists have long worried about the impact of mutations on the human population, and that at a rate of one deleterious mutation per person per generation, genetic deterioration would result. Earlier reports were based on estimates of mutation rates considerable lower than what we now know to be the case. Findings going back to 2002 show that the human mutation rate is at least 100 mistakes (misspellings) per person per generation. Some scientists believe the rate is closer to 300.
Even a rate of 100 has profound implications, and the mutation rate is itself increasing. Furthermore, most, if not all, mutations in the human genome must be deleterious. “And nothing can reverse the damage that has been done during our own generation, even if further mutations could be stopped.” It would appear that the process is an irreversible downward spiral that will end in “mutational meltdown”.
If you didn’t grasp all of that, let me break it down for you very simply.
The human race is on borrowed time, and at some point our DNA will be so full of harmful mutations that we will no longer be able to continue.
If all of what I have just shared was not enough, scientists have also discovered that the entire universe is actually in the process of dying. The following comes from CNN…
The conclusion of a new astronomical study pulls no punches on this. “The Universe is slowly dying,” it reads.
Astronomers have believed as much for years, but the new findings establish the cosmos’ decline with unprecedented precision.
The experts that conducted this study found that the universe is only producing about half as much energy as it once did. As the amount of energy continues to decline, all of the lights will slowly go out until none are left. Or as one scientist put it, the universe “is about to nod off for an eternal doze”…
“The universe has basically sat down on the sofa, pulled up a blanket and is about to nod off for an eternal doze,” said astronomer Simon Driver, who led the team.
We can certainly do some things to try to prevent the mass animal extinctions that are happening all over the planet, but nothing that we can do can stop the deterioration of human DNA or the slow death of the entire universe.
Hopefully what I have shared here will help many to understand that everything around us is just temporary. Our world and everything in it will pass away, and perhaps we should spend the little time that we do have on this planet focusing on the things that really matter.
Doesn’t it seem like there is another Islamic terror attack somewhere in the world almost every day now? Today, there was a throat slashing at a subway station in London, and three female suicide bombers carried out a devastating attack in Chad that killed at least 27 and injured at least 90. Inspired by the success of ISIS, radical Islamists all over the planet are rising up and striking vulnerable targets. According to Wikipedia, there have been dozens of terror attacks worldwide so far this year, and the recent attacks in Paris and San Bernardino were some of the biggest news stories of 2015. Unfortunately, I believe that this is just the beginning. I am fully convinced that the seeds of terror that have been planted up until now will produce an increasingly bitter harvest as we head into 2016 and beyond.
The throat slashing that just happened in London is another in a series of seemingly random attacks that is creating fear all over Europe right now. Reportedly, the attacker yelled “this is for Syria” as he struck at his victim…
A man was stabbed in the ticket hall at Leytonstone station this evening by another man who witnesses say shouted “This is for Syria” as he slashed his throat.
Another three are thought to have been injured.
The Met Police said its counter-terrorism command unit is now investigating the incident.
Police said they used a taser on the suspect as he threatened others with a knife, before they managed to arrest him.
An alternate account of this attack in the Guardian sounds even more gruesome…
One person, who claims to have witnessed the attack, took to social media to reveal details of the horror. Laurynas Godvisa said: “So as I was going to Leytonstone station was dressed to go to Christmas dinner with people from work.
“As I walked down I just saw a lot of people running but I ignored it and kept walking to get my train, but suddenly what I saw I couldn’t believe my eyes and what I saw was I guy with a knife and a dead guy on the floor.
“I was so scared I ran for my life. After good 10-15 police came and got the guy and arrested him.
“And as he was coming out this is what he said: ‘This is what happens when you **** with mother Syria all of your blood will be spilled.’”
On a daily basis, we all rely on the fact that the people we encounter in public are not going to try to kill us.
But what happens when attacks start happening regularly at soft targets such as schools, churches, subway stations, shopping malls and sporting events?
It isn’t going to take many mass casualty events in the western world before people really start freaking out.
In other areas of the world, we already see these sorts of mass casualty events on a regular basis. And I am not just talking about the Middle East. For example, just check out what happened earlier today in Africa…
A deadly attack took the lives of at least 27 people in Africa. A local market on the island of Koulfoua, in Chad was struck, according to the BBC and AP, injuring at least 90.
A Chad police spokesman said three female suicide bombers carried out Saturday’s attack.
The Lake Chad region straddles the borders of Chad, Cameroon, Niger and Nigeria.
In Nigeria, Islamic terror has become a part of daily life. It wasn’t always that way, but now Boko Haram is creating havoc all over the place.
Given enough time, the same thing would happen in the United States. We have all seen what just happened in San Bernardino, and more radical Islamists are coming into this country all the time. Sadly, the truth is that Sayed Farook and Tashfeen Malik are just the very small tip of a very large iceberg.
The mainstream media is keeping very quiet about the fact that Sayed Farook had been arguing with a 52-year-old pro-Israel Messianic Jewish Christian co-worker named Nicholas Thalasinos and had openly threatened to kill him. A radical Muslim taking revenge on a conservative Christian because of what he believed doesn’t fit any of the “narratives” that the mainstream media is trying to push, and so that part of the story is being almost entirely ignored. In fact, I just read an extremely long article on the attack by the Washington Post, and there was not a single mention of Thalasinos in the entire article.
But the mainstream media is telling us that Farook and Malik had both been radicalized, and it is being reported that Malik even went so far as to pledge her allegiance to ISIS. The following comes from the Daily Mail…
New details have emerged about the radicalization of a Pakistani woman who along with her American husband killed 14 people in San Bernardino California and pledged allegiance to ISIS.
Tashfeen Malik who moved to the US last year when she married Syed Rizwan Farook, 28, had spent most of her life in Saudi Arabia and relatives say she began to be radicalized in college.
Relatives of Malik in Pakistan, estranged from their wealthy family members who live in Saudi Arabia, said she used to wear Western-style clothing but later switched to more traditional garments such as a burka, which covers the the entire body.
These kinds of radicals are moving to America on a constant basis now, and Barack Obama wants to accelerate this process.
During recent television appearances and on a DVD that I made earlier this year, I went on the record with my prediction that a horrible wave of Islamic terrorism was coming to America.
Unfortunately, what we have seen so far is just a preview.
Eventually we are going to see attacks on soft targets that are going to kill hundreds or even thousands.
And as the terrorists see the panic and fear that they are able to create, it will just embolden them to try to launch even bigger and more destructive attacks.
If you don’t think that this can happen in America, just look at what is already happening around the rest of the world. From 2013 to 2014, the number of people around the world killed by terrorism increased by 80 percent, and this year the plague of Islamic terror has gotten even worse.
Our world is becoming increasingly unstable, and our society is extremely vulnerable to various forms of terrorism. And as we have seen with Sayed Farook and Tashfeen Malik, anyone that is willing to commit extremely destructive acts of violent terrorism will suddenly become world famous. Terrorists desperately want to focus attention on themselves, and they love to create fear, and in this day and age it is very easy to do both.
I wish that I could be more optimistic, but as we head into 2016 I have a feeling that this outbreak of Islamic terror is only going to get worse. This is going to fundamentally change all of our lives, and we need to be ready to deal with that reality.
Bankers committing suicide by jumping from the rooftops of their own banks is something that we think of when we think of the Great Depression. Well, it just happened in London, England. A vice president at JPMorgan’s European headquarters in London plunged to his death after jumping from the top of the 33rd floor. He fell more than 500 feet, and it is being reported by an eyewitness that “there was quite a lot of blood“. This comes on the heels of news that a former Deutsche Bank executive was found hanged in his home in London on Sunday. So why is this happening? Yes, the markets have gone down a little bit recently but they certainly have not crashed yet. Could there be more to these deaths than meets the eye? You never know. And as I will discuss below, there have been a lot of other really strange things happening around the world lately as well.
But before we get to any of that, let’s take a closer look at some of these banker deaths. The JPMorgan executive that jumped to his death on Tuesday was named Gabriel Magee. He was 39 years old, and his suicide has the city of London in shock…
A bank executive who died after jumping 500ft from the top of JP Morgan’s European headquarters in London this morning has been named as Gabriel Magee.
The American senior manager, 39, fell from the 33-story skyscraper and was found on the ninth floor roof, which surrounds the Canary Wharf skyscraper.
He was a vice president in the corporate and investment bank technology department having joined in 2004, moving to Britain from the United States in 2007.
What would cause a man in his prime working years who is making huge amounts of money to do something like that?
The death on Sunday of former Deutsche Bank executive Bill Broeksmit is also a mystery. According to the Daily Mail, police consider his death to be “non-suspicious”, which means that they believe that it was a suicide and not a murder…
A former Deutsche Bank executive has been found dead at a house in London, it emerged today.
The body of William ‘Bill’ Broeksmit, 58, was discovered at his home in South Kensington on Sunday shortly after midday by police, who had been called to reports of a man found hanging at a house.
Mr Broeksmit – who retired last February – was a former senior manager with close ties to co-chief executive Anshu Jain. Metropolitan Police officers said his death was declared as non-suspicious.
On top of that, Business Insider is reporting that a communications director at another bank in London was found dead last week…
Last week, a U.K.-based communications director at Swiss Re AG died last week. The cause of death has not been made public.
Perhaps it is just a coincidence that these deaths have all come so close to one another. After all, people die all the time.
And London is rather dreary this time of the year. It is easy for people to get depressed if they are not accustomed to endless gloomy weather.
If the stock market was already crashing, it would be easy to blame the suicides on that. The world certainly remembers what happened during the crash of 1929…
Historically, bankers have been stereotyped as the most likely to commit suicide. This has a lot to do with the famous 1929 stock market crash, which resulted in 1,616 banks failing and more than 20,000 businesses going bankrupt. The number of bankers committing suicide directly after the crash is thought to have been only around 20, with another 100 people connected to the financial industry dying at their own hand within the year.
But the market isn’t crashing just yet. We definitely appear to be at a “turning point“, but things are still at least somewhat stable.
So why are bankers killing themselves?
That is a good question.
As I mentioned above, there have also been quite a few other strange things that have happened lately that seem to be “out of place”.
For example, Matt Drudge of the Drudge Report posted the following cryptic message on Twitter the other day…
“Have an exit plan…”
What in the world does he mean by that?
Maybe that is just a case of Drudge being Drudge.
Then again, maybe not.
And on Tuesday we learned that a prominent Russian Bank has banned all cash withdrawals until next week…
Bloomberg reports that ‘My Bank’ – one of Russia’s top 200 lenders by assets – has introduced a complete ban on cash withdrawals until next week. While the Ruble has been losing ground rapidly recently, we suspect few have been expecting bank runs in Russia.
Yes, we have heard some reports of people having difficulty getting money out of their banks around the world lately, but this news out of Russia really surprised me.
Yet another story that seemed rather odd was a report in the Wall Street Journal earlier this week that stated that Germany’s central bank is advocating “a one-time wealth tax” for European nations that need a bailout…
Germany’s central bank Monday proposed a one-time wealth tax as an option for euro-zone countries facing bankruptcy, reviving a idea that has circled for years in Europe but has so far gained little traction.
Why would they be suggesting such a thing if “economic recovery” was just around the corner?
According to that same article, the IMF has recommended a similar thing…
The International Monetary Fund in October also floated the idea of a one-time “capital levy,” amid a sharp deterioration of public finances in many countries. A 10% tax would bring the debt levels of a sample of 15 euro-zone member countries back to pre-crisis levels of 2007, the IMF said.
So what does all of this mean?
I am not exactly sure, but I have got a bad feeling about this – especially considering the financial chaos that we are witnessing in emerging markets all over the globe right now.
So what do you think? Please feel free to share your thoughts by posting a comment below…
Something really strange appears to be happening. All over the globe, governments and big banks are acting as if they are anticipating an imminent financial collapse. Unfortunately, we are not privy to the quiet conversations that are taking place in corporate boardrooms and in the halls of power in places such as Washington D.C. and London, so all we can do is try to make sense of all the clues that are all around us. Of course it is completely possible to misinterpret these clues, but sticking our heads in the sand is not going to do any good either. Last week, it was revealed that the U.S. government has been secretly directing five of the biggest banks in America “to develop plans for staving off collapse” for the last two years. By itself, that wouldn’t be that big of a deal. But when you add that piece to the dozens of other clues of imminent financial collapse, a very troubling picture begins to emerge. Over the past 12 months, hundreds of banking executives have been resigning, corporate insiders have been selling off enormous amounts of stock, and I have been personally told that a significant number of Wall Street bankers have been shopping for “prepper properties” in rural communities this summer. Meanwhile, there have been reports that the U.S. government has been stockpiling food and ammunition, and Barack Obama has been signing a whole bunch of executive orders that would potentially be implemented in the event of a major meltdown of society. So what does all of this mean? It could mean something or it could mean nothing. What we do know is that a financial collapse is coming at some point. Over the past 40 years, the total amount of all debt in the United States has grown from about 2 trillion dollars to nearly 55 trillion dollars. That is a recipe for financial armageddon, and it is inevitable that this gigantic bubble of debt is going to burst at some point.
In normal times, the U.S. government does not tell major banks to “develop plans for staving off collapse”.
But according to a recent Reuters article, that is apparently exactly what has been happening….
U.S. regulators directed five of the country’s biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
The two-year-old program, which has been largely secret until now, is in addition to the “living wills” the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress.
Does it seem odd to anyone else that only five really big banks got such a warning?
And why keep it secret from the American public?
Does the federal government actually expect such a collapse to happen?
If federal officials do expect a financial collapse to occur, they would not be the only ones. An increasing number of very respected economists are speaking about the coming financial collapse as if there is a certain inevitability about it.
For example, check out the following quote from a recent Money Morning article….
Richard Duncan, formerly of the World Bank and chief economist at Blackhorse Asset Mgmt., says America’s $16 trillion federal debt has escalated into a “death spiral,” as he told CNBC.
And it could result in a depression so severe that he doesn’t “think our civilization could survive it.”
A former World Bank executive is warning that our civilization might not survive what is coming?
That is pretty chilling.
Economist Nouriel Roubini says that he believes that the coming crisis will be even worse than 2008….
“Worse because like 2008 you will have an economic and financial crisis but unlike 2008, you are running out of policy bullets. In 2008, you could cut rates; do QE1, QE2; you could do fiscal stimulus; you could backstop/ringfence/guarantee banks and everybody else. Today, more QEs are becoming less and less effective because the problems are of solvency not liquidity. Fiscal deficits are already so large and you cannot bail out the banks because 1) there is a political opposition to it; and 2) governments are near-insolvent – they cannot bailout themselves let alone their banks. The problem is that we are running out of policy rabbits to pull out of the hat!”
Across the pond, many European officials are echoing similar sentiments.
What Nigel Farage told King World News the other day is very ominous….
Today MEP (Member European Parliament) Nigel Farage spoke with King World News about what he described as the possibility of, “a really dramatic banking collapse.” Farage also warned that central planners want to enslave and imprison people inside of a ‘New Order,’ and he described the situation as “horrifying.”
The situation in Europe continues to get worse and worse. The authorities in Europe have come out with “solution” after “solution”, and yet unemployment continues to skyrocket and economic conditions in the EU have deteriorated very steadily over the past 12 months.
If all of that was not bad enough, there are an increasing number of indications that Germany is actually considering leaving the euro.
Needless to say, that would be a complete and total disaster for the rest of the eurozone.
Of course there are any number of ways that the financial crisis in Europe could potentially play out.
But all of the realistic scenarios would be very bad for the global economy.
Meanwhile, our resources are dwindling, war in the Middle East could erupt at any moment and our planet is becoming increasingly unstable. The following is from a recent article by Paul B. Farrell on Marketwatch.com….
Fasten your seat belts, soon we’ll all be shocked out of denial. Some unpredictable black swan. A global wake-up call will trigger the Pentagon’s prediction in Fortune a decade ago at the launch of the Iraq War: “By 2020 … an ancient pattern of desperate, all-out wars over food, water, and energy supplies is emerging … warfare defining human life.”
It is almost as if a “perfect storm” is brewing.
Of course the historic drought that is ravaging food production in the United States this summer is not helping matters either. Another summer or two like this one and we could be looking at a return of Dust Bowl conditions.
Anyone that is watching what is going on in the world and is not concerned at all about what is happening is simply being delusional.
Recently, a “team of scientists, economists, and geopolitical analysts” examined the current state of the global economic system and the conclusions they reached were absolutely staggering….
One member of this team, Chris Martenson, a pathologist and former VP of a Fortune 300 company, explains their findings:
“We found an identical pattern in our debt, total credit market, and money supply that guarantees they’re going to fail. This pattern is nearly the same as in any pyramid scheme, one that escalates exponentially fast before it collapses. Governments around the globe are chiefly responsible.
“And what’s really disturbing about these findings is that the pattern isn’t limited to our economy. We found the same catastrophic pattern in our energy, food, and water systems as well.”
According to Martenson: “These systems could all implode at the same time. Food, water, energy, money. Everything.”
Hmmmm – it sounds like they have been reading The Economic Collapse Blog.
The truth is that a massive worldwide financial collapse is coming.
It is inevitable, and it is going to be extremely painful.
So what do you think about all of this? Please feel free to post a comment with your thoughts below….
We always knew that the financial markets were rigged, but this is getting ridiculous. It is now being alleged that 20 major banks have been systematically fixing global interest rates for years. Barclays has already been fined hundreds of millions of dollars for manipulating Libor (the London Inter Bank Offered Rate). But Barclays says that a whole bunch of other banks were doing this too. This is shaping up to be the biggest financial scandal in history, and criminal investigations have been launched on both sides of the Atlantic. What those investigations are likely to uncover could shake the financial markets to their very core. In the end, this scandal could absolutely devastate confidence in the global financial system and it could potentially bring down a number of major global banks. We have never seen anything quite like this before.
What Is Libor?
As mentioned before, Libor is the London Inter Bank Offered Rate. A recent Washington Post article contained a pretty good explanation of what that means….
In the simplest terms, LIBOR is the average interest rate which banks in London are charging each other for borrowing. It’s calculated by Thomson Reuters — the parent company of the Reuters news agency — for the British Banking Association (BBA), a trade association of banks and financial services companies.
Why Does Libor Matter?
If you have a mortgage, a car loan or a credit card, then there is a very good chance that Libor has affected your personal finances. Libor has been a factor in the pricing of hundreds of trillions of dollars of loans, securities and assets. The following is from a recent article by Maureen Farrell….
These traders influenced the pricing of the London Interbank Offered Rate or Libor, a benchmark that dictates the pricing of up to $800 trillion of securities (yes trillion)
That is a number that is hard to even imagine.
Most American consumers do not even know what Libor is, but it actually plays a key role in the U.S. economy as the Washington Post recently explained….
In the United States, the two biggest indices for adjustable rate mortgages and other consumer debt are the prime rate (that is, the rate banks charge favored or “prime” consumers) and LIBOR, with the latter particularly popular for subprime loans. A study from Mark Schweitzer and Guhan Venkatu at the Cleveland Fed looked at survey data in Ohio and found that by 2008, almost 60 percent of prime adjustable rate mortgages, and nearly 100 percent of subprime ones, were indexed to LIBOR
Who Was Involved In This Scandal?
According to the Daily Mail, in addition to Barclays it is being alleged that at least 20 banks (including some major U.S. banks) were involved in this interest rate fixing scandal….
Hundreds of bankers across three continents are embroiled in the interest-rate fixing scandal that has left Barclays chief executive Bob Diamond fighting to save his job.
As pressure intensified on Britain’s highest paid banking boss to quit, MPs heard a string of other financial institutions across the world were under investigation.
At least 20 banks are believed to be under suspicion, with growing demands for a criminal investigation.
There are also indications that the Bank of England itself may have been involved in this scandal.
What Did They Do?
Employees at Barclays (and apparently at about 20 other major banks) were brazenly manipulating interest rates. A recent Yahoo Finance article described how this worked…
To help the bank’s trading positions between 2005 and 2009, and most notably during the global financial crisis of 2007-09, the bank made false submissions to the Libor-setting committee, which agrees rates daily in London.
At the request of its own traders of interest-rate derivatives, Barclays made false submissions relating to Libor and Euribor (the eurozone benchmark rate). By doing this, Barclays personnel aimed to help their trading colleagues to profit by manipulating Libor.
Rigging the world’s leading benchmark for interest rates is pretty serious stuff. Indeed, in the words of the FSA, “Barclays’ behaviour threatened the integrity of the rates, with the risk of serious harm to other market participants”.
Many in the financial world have been absolutely horrified by the details of this scandal that have been emerging.
One recent CNN article declared that “the stench” coming from London is now “overwhelming”….
The Libor scandal has confirmed what many of us have known for some time: There is something smelly in the London financial world and the stench is now overwhelming.
But It is only when I read the Financial Services Authority report — all 44 pages of it — that is became clear just how widespread, how blatant was the fixing of the benchmark interest rate Libor and Euribor by Barclays. Brazen is the only word for it.
The emails and phone calls reveal that on dozens of occasions those who stood to gain by the decisions asked for favors (and got them) from those who helped set the interest rates.
You can read many examples of the kinds of emails that were exchanged between traders in New York and traders at Barclays in London right here.
What Does This Scandal Mean For The Future?
This scandal is making the global financial system look really, really bad. Confidence in global financial markets has already been declining, and these new revelations are not going to help at all. The following is how an article in the Huffington Post put it….
The ballooning interest rate manipulation scandal at Barclays, coupled with stock market instability, is likely to fuel fresh doubts about the integrity of the stock market, insiders said.
“Every time people begin to gain a little confidence, something else comes up,” said Randy Frederick, managing director of active trading and derivatives at Charles Schwab. “If it’s not Europe, it’s [troubled] IPOs, or JPMorgan or Barclays. Something new blows up and people say, ‘I knew it was rigged.’”
In addition, we are undoubtedly going to see a huge wave of lawsuits come out of this scandal. Those lawsuits alone will gum up the financial system for a decade or more.
So needless to say, this is a very big deal.
Sadly, the revelations that have come out about Barclays in recent days are probably just the very tip of the iceberg. Before this is all over, we are probably going to find out that most of the major global banks were involved.
At a time when the global financial system is already on the verge of a major implosion, this is not welcome news.
This financial scandal is just another reason to be deeply concerned about the second half of 2012. The house of cards is starting to look really shaky, and nobody knows exactly when it will fall, but anyone with half a brain can see that things are progressively getting worse.
A “perfect storm” is rapidly developing, and when it strikes it is going to be very, very painful.
You should let the video footage of the wild violence that just took place in London burn into your memory because the same things are going to be happening all over the United States as the economy continues to crumble. We have raised an entire generation of young people with an “entitlement mentality”, but now the economy is producing very few good jobs that will actually enable our young people to work for what they feel they are entitled to. If you are under 30 in America today, things look really bleak. The vast majority of the good jobs are held by people that are older, and they aren’t about to give them up if they can help it. It is easy for the rest of us to tell young Americans to “take whatever they can”, but the reality is that there is intense competition for even the most basic jobs. For instance, McDonald’s recently held a “National Hiring Day” during which a million Americans applied for jobs. Only 6.2% of the applicants were hired. In the old days you could walk down to McDonald’s and get a job whenever you wanted to, but now any job is precious. The frustration among our young people is palpable. Most of them feel entitled to “the American Dream” and they feel like the system has failed them. Unfortunately, many of them are already turning to violence. But the economic riots and the civil unrest that we have already seen are nothing compared to what is coming. Americans are angry, and as the economy continues to collapse that anger is going to reach unprecedented heights.
In recent days, even many in the mainstream media have been openly wondering if the riots that happened in London could happen here too. There is a growing acknowledgement that this country is headed down a very dark path.
The sad thing is that these riots accomplish absolutely nothing. The recent London riots did not create any jobs and they certainly did not solve any economic problems. Instead, they actually hurt the economy even more because a huge am0unt of property was destroyed and people are even more afraid to continue with business as usual.
But when people get to the end of their ropes, most of the time they are not thinking rationally. When frustration erupts, the results can be very, very messy.
All over the United States we are already seeing some very troubling signs of the violence that is coming. The following are 10 signs that economic riots and civil unrest inside United States are now more likely then ever….
#1 Going to the state fair used to be such a fun thing for American families to do. But now no place is safe. The following is how one local ABC News affiliate described the “flash mob” attacks that took place at the Wisconsin state fair recently….
Milwaukee police said that around 11:10 p.m., squads were sent to the area for reports of battery, fighting and property damage being caused by an unruly crowd of “hundreds” of people. One officer described it as a “mob beating.”
Police said the group of young people attacked fair goers who were leaving the fair grounds. Police said that some victims were attacked while walking. They said others were pulled out of cars and off of motorcycles before being beaten.
One eyewitness said that the flash mob attacks at the Wisconsin state fair absolutely overwhelmed the limited police presence that was there….
When I saw the amount of kids coming down the road, all I kept thinking was, ‘There’s not enough cops to handle this.’ There’s no way. It would have taken the National Guard to control the number of kids that were coming off the road. They were knocking people off their motorcycles.
#2 According to a new Rasmussen survey, 48% of Americans believe that reductions in government spending are “at least somewhat likely” to result in civil unrest inside the United States. Unfortunately, perception often greatly influences reality.
#3 U.S. consumer confidence is now at its lowest level in 30 years.
#4 Joblessness among young Americans is at an epidemic level, and when rioting does break out it is usually young people that are leading the way. That is why the following statistics from an article in The Atlantic are so troubling….
One in five Americans are between 15 and 29-years old. And one in five of those Americans are unemployed. For minorities and the under-educated, the picture is much worse. Black teenagers have an unemployment rate of 44 percent, twice the rate for white teens.
#5 We are starting to see mindless violence in a lot of areas that used to be considered safe. In Kansas City on Saturday night, three young people were hit with bullets as they walked the streets of the Country Club Plaza. Mayor Sly James was about 50 yards away when the gunfire erupted. Authorities in Kansas City are considering a stricter curfew for that area.
#6 “Flash mobs” have become such a problem in Philadelphia that the mayor has imposed a strict curfew on young people. Now all teens between the ages of 13 and 18 must be indoors by 9 o’clock at night. The mayor also says that teens need to start pulling up their pants….
“Pull your pants up and buy a belt ’cause no one wants to see your underwear or the crack of your butt.”
#7 All over the United States we are seeing that many struggling Americans will do just about anything for money. For example, in Detroit recently three masked men crashed a vehicle through the entrance of a gas station and took off with an entire ATM machine.
#8 Desperate people do desperate things. Many of America’s “forgotten poor” are trying to survive any way that they can. For instance, a group of vagrants recently set up “a makeshift camp” near Prospect Park lake in Brooklyn. According to the New York Post, many nearby residents have been disturbed by what these “drifters” are doing to survive….
The drifters have been illegally trapping and cooking up the critters that call the park home, including squirrels, ducks and swan-like cygnets.
They used crude tactics to hunt their prey, including barbed fishing hooks that ripped off the top half of one poor gosling’s beak. They then cooked the meat over illegal fires. Some of the animals were eaten raw.
#9 According to CNN, sales of safes and vaults are absolutely soaring right now. One store owner told CNN that she believes that she is selling a lot more safes now because people are scared that civil unrest could be coming….
“Folks are worried about the decreasing value of the dollar, burglaries on the rise in their neighborhoods … and even the possibility that the unrest we are seeing in other parts of the world slipping over to our country.”
#10 Over the past 100 years, the American population has moved steadily into our big cities and the surrounding suburbs. This has created virtual “ghost towns” in our rural areas from coast to coast. Back in 1910, 72 percent of Americans lived in rural areas. Today, only 16 percent of Americans live in rural areas. But when you crowd huge masses of people close together that makes riots and civil unrest much more likely.
Most Americans are already fed up, and the economy is not even that bad yet. One recent survey found that 73 percent of Americans believe that the nation is “on the wrong track”. Another recent poll found that only 17 percent of Americans now believe that the U.S. government has the consent of the governed.
Millions of very frustrated young people believe that the economic system has failed them and that the political system no longer holds any answers.
America is rapidly approaching a breaking point. I have written previously about the collapse of society that we are already witnessing all over the United States. When the economy totally breaks down, most Americans are not going to be able to handle it.
Sadly, instead of coming together and trying to do something productive, many Americans will resort to rioting, looting and civil unrest. We have already seen this during local emergencies such as Hurricane Katrina.
But mindless violence accomplishes absolutely nothing positive. It just always makes things worse.
Unfortunately, logic and reason are not going to be enough to stop the gigantic wave of frustration that is coming. For most of the rest of us, it will be hard enough to get out of the way and protect our own families from the economic riots and the civil unrest that are coming.
The thin veneer of civilization that we all take for granted is starting to disappear. Hatred and anger are growing by the day. The United States is becoming a very frightening place.
So get ready. Our politicians certainly don’t have any answers for us. The debt ceiling deal was a complete and total joke, and corruption is absolutely rampant in Washington right now. Barack Obama is getting ready to leave for yet another vacation, and most of our politicians are only focused on the next election.
So don’t expect a “miracle” from those that are supposed to be leading us.
They don’t care about you.
You need to take care of yourself and your family and your friends.
A massive economic collapse is coming, and most Americans are going to be totally blindsided by it.
Don’t let that happen to you.