Mainstream news outlets are already starting to use the phrase “economic collapse” to describe what is going on in some areas of our world right now. For many Americans this may seem a bit strange, but the truth is that the worldwide economic slowdown that began during the second half of last year is starting to get a lot worse. In this article, we are going to examine evidence of this from South America, Europe, Asia and North America. Once we are done, it should be obvious that there is absolutely no reason to be optimistic about the direction of the global economy right now. The warnings of so many prominent experts are now becoming a reality, and what we have witnessed so far are just the early chapters of a crushing economic crisis that will affect every man, woman and child in the entire world.
Let’s start with Brazil. It has the 7th largest economy on the entire planet, and it is already enduring its worst recession in 25 years. In fact, at the end of last year Goldman Sachs said that what was going on down there was actually a “depression“.
But now the crisis in Brazil has escalated significantly.
I want to share with you an excerpt from a recent article entitled “Brazil: Economic collapse worse than feared“. I know, that title sounds like it comes directly from The Economic Collapse Blog, but I didn’t write it.
It actually comes from CNN…
Amid political chaos, Brazil’s economic collapse is worse than its government once believed.
In the midst of rising calls to impeach President Dilma Rousseff, Brazil’s central bank announced Thursday that it now expects the country’s economy to shrink 3.5% this year.
That’s worse than the central bank’s previous estimate for a 1.9% contraction. The darker forecast matches what the International Monetary Fund projected for Brazil — Latin America’s largest country — and what many independent economists have suspected.
It is one thing for Michael Snyder to tell you that Brazil is in the midst of “economic collapse”, but it is another thing entirely for CNN to say it.
And of course I have been warning about the crisis down in Brazil for quite some time now. For much more on this, please see my previous article entitled “The Economic Collapse Of South America Is Well Underway“.
Meanwhile, things are actually much worse in Venezuela than they are in Brazil. Food and basic supplies are in short supply, the inflation rate has hit 720 percent, and crime is completely out of control.
The following is from an article in the Independent entitled “Venezuela is on the brink of complete economic collapse“…
The only question now is whether Venezuela’s government or economy will completely collapse first.
The key word there is “completely.” Both are well into their death throes. Indeed, Venezuela’s ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it’s hard to see that getting any better for them any time soon — or ever.
Incumbents, after all, don’t tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It’s no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt.
Once again we see a very respected mainstream publication using the phrase “economic collapse” to describe what is happening in South America.
You can find some stunning video of the “economic Armageddon” that is taking place in Venezuela right here. I would encourage you to watch that video, because what is happening down there will eventually be happening here.
Meanwhile, over in Europe the collapse of the Italian banking system has entered a disturbing new chapter. Italy’s finance minister has called a meeting in Rome for Monday that will be focusing on a “last resort” bailout plan for the troubled banks…
Finance minister Pier Carlo Padoan has called a meeting in Rome on Monday with executives from Italy’s largest financial institutions to agree final details of a “last resort” bailout plan.
Yet on the eve of that gathering, concerns remain as to whether the plan will be sufficient to ringfence the weakest of Italy’s large banks, Monte dei Paschi di Siena, from contagion, according to people involved in the talks.
Italian bank shares have lost almost half their value so far this year amid investor worries over a €360bn pile of non-performing loans — equivalent to about a fifth of GDP. Lenders’ profitability has been hit by a crippling three-year recession.
As Italy descends into financial chaos, the rest of the continent better be paying attention.
Do you remember how hard it was for the rest of Europe to rescue Greece?
Well, Greece has the 44th largest economy on the planet.
Italy has the 8th.
It would be hard to overstate the seriousness of what is going on over in Europe, and it is not just Italy we are talking about. All over the continent major banks are in deep trouble, and the chairman of France’s second largest retail bank recently told reporters that “I am much more worried than I was in 2009“.
And there is very good reason for concern. On Sunday, we learned that a major “bail-in” had just been announced for one of Austria’s most prominent banks. The following comes from Zero Hedge…
And then today, following a decision by the Austrian Banking Regulator, the Finanzmarktaufsicht or Financial Market Authority, Austria officially became the first European country to use a new law under the framework imposed by Bank the European Recovery and Resolution Directive to share losses of a failed bank with senior creditors as it slashed the value of debt owed by Heta Asset Resolution AG.
The highlights from the announcement:
Today, the Austrian Financial Market Authority (FMA) in its function as the resolution authority pursuant to the Bank Recovery and Resolution Act (BaSAG – Bundesgesetz über die Sanierung und Abwicklung von Banken) has issued the key features for the further steps for the resolution of HETA ASSET RESOLUTION AG. The most significant measures are:
- a 100% bail-in for all subordinated liabilities,
- a 53.98% bail-in, resulting in a 46.02% quota, for all eligible preferential liabilities,
- the cancellation of all interest payments from 01.03.2015, when HETA was placed into resolution pursuant to BaSAG,
- as well as a harmonisation of the maturities of all eligible liabilities to 31.12.2023.
According to the current resolution plan for HETA, the wind-down process should be concluded by 2020, although the repayment of all claims as well as the legally binding conclusion of all currently outstanding legal disputes will realistically only be concluded by the end of 2023. Only at that point will it be possible to finally distribute the assets and to liquidate the company.
The dominoes are starting to fall in Europe, and I would expect even bigger announcements in the weeks and months to come.
Over in Asia, economic chaos is beginning to prevail as well.
In China, the stock market is already down more than 40 percent from the peak, Chinese exports were down 25.4 percent on a year over year basis in February, and Chinese economic numbers overall have not been this poor since the depths of the last global recession.
At the same time, the Japanese economy is really struggling right now. As I wrote about the other day, Japanese GDP has shrunk for two out of the last three quarters, we just saw Japanese industrial production experience the biggest one month decline that we have witnessed since the tsunami of 2011, and business sentiment has fallen to a three year low. The Nikkei has dropped by about 5,000 points from where it was last summer, and some analysts believe that Japanese markets “are being destroyed” due to massive intervention by the Bank of Japan.
Here in the United States, we haven’t been hit quite as hard as the rest of the world just yet, but there are lots of very disturbing warning signs all around us.
At the end of last week, we learned that it is being projected that U.S. GDP will have grown by just 0.1 or 0.2 percent during the first quarter of 2016. And on Monday corporate earnings reporting season begins, and it is expected to be a very, very bad one. The following comes from Business Insider…
We are about to get confirmation that earnings growth for America’s biggest companies was negative in the first quarter, compared to the same period a year ago.
When aluminum giant Alcoa releases its results on Monday, it will mark the unofficial start of the heaviest reporting season for S&P 500 companies.
The final scoreboard is expected to show a 9.1% earnings drop for the quarter, according to FactSet senior earnings analyst John Butters.
If these projections turn out to be accurate, it will be the fourth quarter in a row of earnings declines. This is something that we never see outside of a recession.
And for a whole bunch more numbers which indicate that the U.S. economy is in very serious trouble, please see my previous article entitled “19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago“.
Of course I am just another voice in the crowd when it comes to predicting that the U.S. economy is headed for rough times. For example, just check out what Societe Generale economist Albert Edwards is saying…
A tidal wave is coming to the US economy, according to Albert Edwards, and when it crashes it’s going to throw the economy into recession.
…the profit recession facing American corporations is going to lead to a collapse in corporate credit.
“Despite risk assets enjoying a few weeks in the sun our fail-safe recession indicator has stopped flashing amber and turned to red”
Whole economy profits never normally fall this deeply without a recession unfolding. And with the US corporate sector up to its eyes in debt, the one asset class to be avoided — even more so than the ridiculously overvalued equity market — is US corporate debt. The economy will surely be swept away by a tidal wave of corporate default.
As you can see, it isn’t just one nation or one region of the world that we need to be concerned about.
Economic chaos is erupting literally all over the planet, and global leaders are starting to panic.
Unfortunately, they have had seven years to try to fix things since the last global recession, and they didn’t get the job done. Anyone that believes that by some miracle they will be able to pull us out of the fire this time and that everything will somehow be okay is simply engaged in wishful thinking.
*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*
Did you know that when you take the number of working age Americans that are officially unemployed (8.2 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (94.3 million), that gives us a grand total of 102.5 million working age Americans that do not have a job right now? I have written about this before, but today I want to focus just on Americans that are in their prime working years. When you look at only Americans that are from age 25 to age 54, 23.2 percent of them are unemployed right now. The following analysis and chart come from the Weekly Standard…
Here’s a chart showing those in that age group currently employed (95.6 million) and those who aren’t (28.9 million):
“There are 124.5 million Americans in their prime working years (ages 25–54). Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed. This group of non-employed individuals is more than 3.5 million larger than before the recession began in 2007,” writes the Republican side of the Senate Budget Committee.
Clearly, we have never recovered from the impact of the last recession.
But let’s try to put these numbers in context.
Below, I would like to share two charts with you. They show what has happened to the inactivity rates for men and for women in their prime working years in the United States in recent years.
In order to be considered “inactive”, you can’t have a job and you can’t be looking for a job. So this subset of people is smaller than the group that we were talking about above. The 23.2 percent of Americans in their prime working years that are unemployed right now includes those that are looking for a job and those that are not looking for a job.
These next two charts do not include anyone that has a job or that is currently looking for a job. These charts only cover “inactive” people in their prime working years that are not considered to be in the labor force.
As you can see in this first chart, the inactivity rate for men in their prime working years exploded higher during the last recession and then continued to go up even after the recession supposedly ended. At this point, it is hovering near all-time record highs. Does this look like an “economic recovery” to you?…
For women, we see a similar thing. In this next chart, you can see that the inactivity rate for women in their prime working years rose during the last recession and then just kept on rising. At this point, it remains far higher than it was during the last recession…
What are we to make of all this?
For both men and women in their prime working years, the inactivity rate is significantly higher than it was during the last recession.
All of these people neither have a job nor are they looking for one.
So what in the world is going on here?
Are they independently wealthy?
Have these people found rich spouses to marry so they don’t have to work?
No, the truth is that the middle class in America is steadily eroding and poverty is absolutely exploding. Credit card debt has soared to a new record high, and 48 percent of all U.S. adults under the age of 30 believe that “the American Dream is dead”.
The issue isn’t that people don’t want to work.
The issue is that people cannot find enough work.
And even if you have a job, that does not mean that you are on easy street. According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.
Tens of millions of Americans are now among the ranks of “the working poor”. So many families are watching their expenses soar while their paychecks go down or stagnate. If you are in this situation right now, then you probably know how exceedingly stressful it can be.
Just look at what is happening to the cost of health insurance. The following comes from Fox News…
Health insurance premiums have increased faster than wages and inflation in recent years, rising an average of 28 percent from 2009 to 2014 despite the enactment of Obamacare, according to a report from Freedom Partners.
And I am not exactly sure where they got those numbers. Personally, I know that my health insurance rates have gone up far faster than that.
Two years ago, my health insurance company wanted to double the health insurance premiums for my family even though we never get sick. So I switched to another insurance company that offered a policy that was only about 30 percent higher than my last one. But then when it came time to renew, that insurance company wanted to raise my rate by another 50 percent.
Thanks to Obamacare, American families are being absolutely crippled by the cost of health care. And of course we are seeing the rising cost of living so many other places as well. Our paychecks are being squeezed harder and harder, and this is absolutely killing the middle class. In fact, the middle class in America is now a minority for the first time ever.
And now for the real bad news – this is about as good as things are ever going to get in this country. As you can see from what I have shared above, we never really had any sort of meaningful “economic recovery”, and now we have entered the early phases of the next major downturn.
So where do we go from here? Unfortunately, our debt-fueled prosperity has provided us with a massively inflated standard of living that is not even close to sustainable. As this bubble bursts, the economic pain is going to be absolutely unprecedented.
But it won’t be just economic pain that we are facing. In my new book, I detail the things that I believe that are coming to this country, and I explain why the entire planet will soon be facing incredibly challenging times. It is going to be one of the most controversial Christian books of 2016, because it directly challenges many of the things that are being taught in mainstream churches today. My book is an ominous message of warning and an inspiring message of hope, and I truly believe that it is the most important thing that I have ever written.
No matter how you may see the future, the key is that we all learn to love one another. The years ahead are going to be extremely challenging, and those that want to chase everyone else away and survive as lone wolves are going to have a very rough time. We all need each other, and those that have friends, family and communities around them are going to be in a much better position to weather the coming storms.
So let us hope for the best, but let us also prepare for the worst…
It has been said that a journey of a thousand miles begins with a single step. Well, I would like to share a little bit of my journey with you, and hopefully this will inspire someone out there. We live in a day and age when you don’t have to be a celebrity to make a difference. I know this is true because ten years ago I was about as anonymous as you could possibly get. I was newly married and working as a lawyer in the heart of Washington D.C. not too far from the White House. That may sound glamorous to you, but it definitely was not. Approximately one out of every 12 residents of D.C. is a lawyer according to some estimates, and so they are a dime a dozen. And my work was about as meaningless as you could get. If there was a lawyer version of a toilet scrubber, that would have been me. Nobody knew who I was, and nobody cared who I was. I was having no real measurable impact on the world around me, but I wanted to. I just didn’t know how.
In 2008, I started to look into something called blogging. I learned that there were more than a million blogs already on the Internet by that time, and so I had no idea why anyone would possibly want to read anything that I had to say, but I decided to try it. I began with a few free Blogger blogs, and my readership in those days could have been measured with a magnifying glass.
But I stuck with it.
And that is one of the keys to success in any area of life. So many people give up if they don’t have immediate success. And that is so sad, because all “overnight success stories” had to start somewhere.
So do not despise small beginnings – they can ultimately lead to something great.
Eventually my readership began to grow, and the real turning point for me came when I left the legal world at the end of 2009 and started The Economic Collapse Blog. Of course that had very humble beginnings as well. The first month the site was live I only had about 4,800 pageviews. But that was a whole lot more than I had before.
Very early on I decided that I was going to try to put out the highest quality articles that I could possibly write, and people really responded to that. They knew that they weren’t getting straight answers about the economy from the mainstream media, and they were seeking out alternative sources of information. We have seen the “alternative media” absolutely explode in recent years, and I am proud to be part of that revolution.
In early 2010, my wife and I decided to take a leap and move across the country to a little town outside of Seattle, Washington. We didn’t really have much money, so it was kind of a crazy thing to do. But we felt called to do it, so by faith we packed up our lives and moved all the way across the continent. We figured that I could make a little money writing and she could make a little money painting furniture and we could figure out a way to survive somehow.
We spent a little over a year out near Seattle, and during that time The Economic Collapse Blog started to grow by leaps and bounds. We also had other websites such as End Of The American Dream and The Most Important News that were really starting to grow as well, and so we felt secure enough to seek out a more permanent home. That was always the plan anyway, because we wanted to get away from the large population centers.
God eventually led us to a wonderful home in the mountains in a very isolated part of the northwest United States. And my wife and I both agree that this is the best place that either of us have ever lived. We absolutely love the peace and quiet, and the view that we have across the valley is priceless. I could have very easily sat up on that mountain living a very quiet life for the rest of my days and been very happy.
But God had other things in mind for us. When we moved up there, we believed that God was instructing us to prepare for what He wanted us to do. So we studied, and we prayed and we kept working on our websites. And then we studied, and we prayed and we worked some more. We never knew what kinds of doors God was going to open up for us. By faith we just tried to do what we believed that He was instructing us to do.
And of course many of you already know about the amazing doors that God has been opening up for us over the past few years. He is doing things that I never even would have imagined asking Him to do.
The reason why I am sharing all of this is to say that if someone like me can be used to make a difference, so can you.
If a completely anonymous Washington D.C. lawyer can move to the mountains in the middle of nowhere and be used to touch millions of lives all over the planet, that just shows that all things are possible with God.
Of course not everyone has a talent for writing. But we all have some way to make a difference. Individually, each one of us in limited, but collectively we can make a massive difference in this world if we are willing to work together.
When I was growing up, I wanted to be a rock star someday, but to this day I still don’t have any musical talent. However, there are people out there with amazing gifts in that area, and I often find myself in awe of their talents.
Other people can make a different in other areas. What some people are about to do with YouTube videos absolutely amazes me. Others write gripping novels or host amazing radio shows. And yet others organize street protests or get heavily involved in local politics.
We all have different gifts and abilities, and we all have ways that we can make a difference.
Part of my message is to warn people about the incredibly hard times that are coming, but part of my message is also to give hope to people so that they can come through those hard times.
You may choose to curse the darkness when it comes, but I plan on lighting a candle.
No matter how bad things get, I will not bend, I will not break and I will not fear. It is when times are the darkest that the greatest heroes are needed, and we need people that are going to be willing to face the great challenges that are coming with tremendous strength and courage.
Even in the midst of all of the chaos and all of the darkness, my wife and I believe that the greatest chapters of our lives are still ahead of us.
And we invite you to work with us to make a difference. God took the broken pieces of my life and turned them into a beautiful thing, and He can do the same thing for you.
No matter how hard things may seem right now, please do not give up.
It’s not over.
In fact, your future is only just beginning, and all things are possible…
If the U.S. economy really is in “great shape”, then why do all of the numbers keep telling us that we are in a recession? The manufacturing numbers say that we are in a recession, the trade numbers say that we are in a recession, and as you will see below the retail numbers say that we are in a recession. But just like in 2008, the Federal Reserve and our top politicians will continue to deny that a major economic downturn is happening for as long as they possibly can. In this article, I want to look at more signs that a dramatic shift is happening in our economy right now.
First of all, let’s consider what is happening to hedge funds. For many years, hedge funds had been doing extremely well, but now they are closing up shop at a pace that we haven’t seen since the last financial crisis. The following is an excerpt from a Business Insider article entitled “Hedge funds keep on imploding” that was posted on Wednesday…
BlackRock is winding down its Global Ascent Fund, a global macro hedge fund that once contained $4.6 billion in assets, according to Bloomberg’s Sabrina Willmer.
“We believe that redeeming the Global Ascent Fund was the right thing to do for our clients, given the headwinds that macro funds have faced,” a BlackRock spokeswoman told Business Insider.
The winding down of the Ascent fund is the second high-profile hedge fund closing in 24 hours. The Wall Street Journal reported Tuesday that Achievement Asset Management, a Chicago-based hedge fund, was closing.
And those are just two examples. Quite a few other prominent hedge funds have shut down recently, and many are wondering if this is just the beginning of a major “bloodbath” on Wall Street.
Another troubling sign is the implosion of so many energy companies. Just like in 2008, a major crash in the price of oil is hitting the energy sector really hard. Just check out these stock price declines…
-Cabot Oil & Gas down 37.27 percent over the past 12 months
-Southwestern Energy down 68.11 percent over the past 12 months
-Chesapeake Energy down 73.98 percent over the past 12 months
A number of smaller energy companies have already gone out of business, and several of the big players are teetering on the brink. If the price of oil does not rebound significantly very soon, it is just a matter of time before the dominoes begin to fall.
We are also seeing tremendous turmoil in the retail industry. The following comes from Investment Research Dynamics…
The retail sales report for October was much worse than expected. Not only that, but the Government’s original estimates for retail sales in August and September were revised lower. A colleague of mine said he was chatting with his brother, who is a tax advisor, this past weekend who said he doesn’t understand how the Government can say the economy is growing (Hillary Clinton recently gave the economy an “A”) because his clients are lowering their estimated tax payments. Businesses lower their estimated tax payments when their business activity slows down.
The holiday season is always the best time of the year for retailers, but in 2015 there is a lot of talk of gloom and doom. Most large retailers will not start announcing mass store closings until January or February, but without a doubt many analysts are anticipating that once we get past the Christmas shopping season we will see stores shut down at a pace that we haven’t seen since at least 2009. Here is more from the article that I just quoted above…
Retail sales this holiday season are setting up to be a disaster. Already most retailers are advertising “pre-Black Friday” sales events. Remember when holiday shopping didn’t begin, period, until the day after Thanksgiving? Now retailers are going to cannibalize each other with massive discounting before Thanksgiving. Anybody notice over the weekend that BMW is now offering $6500 price rebates? The collapsing economy is affecting everyone, across all income demographics.
Last week we saw the stocks of Macy’s, Nordstrom and Advance Auto Parts do cliff-dives after they announced their earnings. I mentioned to a colleague that the Nordstrom’s report should be the most troubling for analysts. Nordstrom in their investor conference call said that they began seeing an “unexplainable slowdown in sales in August in transactions across all formats, across all catagories and across all geographies that has yet to recover.”
I think that a chart would be helpful to give you an idea of how bad things have already gotten. Jim Quinn shared this in an article that he just posted, and it shows the change in retail sales once you remove the numbers for the auto industry. As you can see, the numbers have never been this dreadful outside of a recession…
But stocks went up 247 points on Wednesday so everything must be great, right?
The stock market has never been a good barometer for the overall economy, and this is especially true these days.
In 2008, stocks didn’t crash until well after the U.S. economy as a whole started crashing, and the same thing is apparently happening this time around as well.
One of the things that is keeping stocks afloat for the moment is stock buybacks. In recent years, big corporations have spent hundreds of billions of dollars buying back their own stocks. The following comes from Wolf Richter…
IBM has blown $125 billion on buybacks since 2005, more than the $111 billion it invested in capital expenditures and R&D. It’s staggering under its debt, while revenues have been declining for 14 quarters in a row. It cut its workforce by 55,000 people since 2012. And its stock is down 38% since March 2013.
Big-pharma icon Pfizer plowed $139 billion into buybacks and dividends in the past decade, compared to $82 billion in R&D and $18 billion in capital spending. 3M spent $48 billion on buybacks and dividends, and $30 billion on R&D and capital expenditures. They’re all doing it.
Later in that same article, Richter explains that almost 60 percent of all publicly traded non-financial corporations have engaged in stock buybacks over the past five years…
Nearly 60% of the 3,297 publicly traded non-financial US companies Reuters analyzed have engaged in share buybacks since 2010. Last year, the money spent on buybacks and dividends exceeded net income for the first time in a non-recession period.
Big corporations like to do this for a couple of reasons. Number one, it pushes the price of the stock higher, and current investors appreciate that. Number two, corporate executives are usually in favor of conducting stock buybacks because it increases the value of their stock options and their own stock holdings.
But now corporate profits are falling and it is becoming tougher for big corporations to borrow money. So look for stock buybacks to start to decline significantly.
Even though it is taking a bit longer than many would have anticipated, the truth is that we are right on track for a massive financial collapse.
All of the indicators that I watch are flashing red, and even though things are moving slowly, they are definitely moving in the same direction that we saw in 2008.
But just like in 2008, there will be people that mock the warnings up until the day when it becomes completely and utterly apparent that the mockers were dead wrong.
While the eyes of the world are on ISIS, Russia is creating weapons unlike anything the world has ever seen before. Plans for a giant self-propelled nuclear torpedo that can create a giant tsunami more than 1,000 feet tall were recently “leaked by mistake” by the Russian media. Apparently the warheads on these torpedos are designed to create so much radiation “that everything living will be killed” – including those that try to survive the attack by hiding in underground shelters. These “robotic mini-submarines” would have a range of up to 10,000 kilometers and would be able to evade all existing U.S. detection systems. To say that such a weapon would be a “game changer” would be a massive understatement.
I know that you are not just going to take my word for any of this. So like I do in all of my articles, I am going to carefully document what I am saying.
The reason why we know about the plans for this new nuclear torpedo is because they were displayed on Russian state television for a few moments during a recent broadcast. According to Russian officials, this was an “accident”. The following comes from a report in the Independent…
Secret plans for a new Russian nuclear torpedo system have been shown on state-controlled television in what the Kremlin said was an accident.
A close-up of a confidential document detailing “Ocean Multipurpose System: Status-6” was broadcast for several seconds by Channel One Russia and NTV during coverage of a meeting between Vladimir Putin and military officials.
Could it be possible that this “accident” happened on purpose?
Could it be possible that it was intended as a warning for the Obama administration?
You never know.
But without a doubt, this is the kind of weapon that would keep military planners up at night. According to RT, this new nuclear torpedo is designed to create “extensive zones of radioactive contamination” that would ensure that no “military, economic, business or other activity” would occur in that area for a very long time…
The presentation slide titled “Ocean Multipurpose System: Status-6” showed some drawings of a new nuclear submarine weapons system. It is apparently designed to bypass NATO radars and any existing missile defense systems, while also causing heavy damage to “important economic facilities” along the enemy’s coastal regions.
The footnote to the slide stated that Status-6 is intended to cause “assured unacceptable damage” to an adversary force. Its detonation “in the area of the enemy coast” would result in “extensive zones of radioactive contamination” that would ensure that the region would not be used for “military, economic, business or other activity” for a “long time.”
In addition, Konstantin Sivkov of the Russian Geopolitical Academy told the BBC that this kind of weapon could be used to create a tsunami more than 1,000 feet high…
“A warhead of up to 100 megatons could produce a tsunami up to 500m (1,650ft) high, wiping out all living things 1,500km (930 miles) deep inside US territory“
As I have written about previously, a whopping 39 percent of all Americans live in counties that directly border a shoreline. The detonation of just a handful of these weapons could wipe out the entire east coast and kill off a very substantial percentage of the U.S. population.
On top of all that, the BBC is reporting that a state-run Russian publication is suggesting that these new torpedos are being fitted with extremely radioactive cobalt warheads…
According to state-run Rossiiskaya Gazeta, the destructive power attributed to the new torpedo’s warhead would fit the description of a cobalt bomb.
That would be a type of thermonuclear warhead with a layer of cobalt-59, which on detonation would be transmuted into highly radioactive cobalt-60 with a half-life longer than five years.
Such a weapon would guarantee “that everything living will be killed”, the paper said – there would not even be any survivors in bunkers.
A cobalt bomb has never been tested because of the devastating radiation it would unleash.
Worst of all, we would have no advance warning that these torpedos were coming. They can be launched from anywhere, they reportedly have a range of up to 10,000 kilometers, and they are designed to “avoid all acoustic tracking devices and other traps”…
On the diagram the giant torpedo’s range is given as “up to 10,000km” (6,200 miles) and depth of trajectory is “up to 1,000m” (3,300ft).
It was developed by Rubin, a submarine design bureau in St Petersburg.
It would, apparently, be launched by nuclear-powered submarines of the 09852 “Belgorod” and 09851 “Khabarovsk” series.
Rossiiskaya Gazeta called the torpedo a “robotic mini-submarine”, travelling at 100 knots (185km/h; 115mph), which would “avoid all acoustic tracking devices and other traps”.
We already know that Russia has been building “black hole submarines” that NATO officials admit are undetectable.
So Russia already has the capability to approach our coastlines without us even knowing about it.
But these new nuclear torpedos take the game to an entirely new level.
And of course this is not the only new weapons system that Russia has been developing in anticipation of World War III. Earlier this year, I discussed several more in an article entitled “The Next-Generation Weapons That Russia Will Use Against The United States In World War III“.
Sadly, the Obama administration seems almost totally oblivious to this threat. Our strategic nuclear forces are so outdated that floppy disks and rotary phones are still being used, and Barack Obama is fond of saying that “the Cold War’s been over for 20 years“.
Unfortunately for us, the Russians do not see things the same way. Anti-American sentiment inside Russia is at an all-time high, and every time the U.S. interferes in Syria or Ukraine the Russians get even angrier.
Just like we do, there are “talking heads” on Russian television that tell people what to think. And many of these “talking heads” on Russian television are openly talking about how war with the United States is inevitable. These days, the Russians consider themselves to be the great force for good in the world, and they consider America to be the great force for evil in the world. In fact, one of their most popular talking heads named Alexander Dugin has publicly called the U.S. the “kingdom of the Antichrist”.
And even though the Russian economy has dipped into recession, the Russians continue to feverishly prepare for war. This year alone, Russian military spending is up 33 percent.
Yes, ISIS is a far greater threat than most Americans would even dare to imagine as I discussed yesterday. In the times to come, I fully expect to see terror attacks inside this country unlike anything we have ever seen before.
But I am completely convinced that the greater long-term strategic threat is Russia.
The Russians are feverishly preparing for World War III while Barack Obama acts like it could never possibly happen.
Hopefully Obama is right, because if he is wrong the consequences for this nation will be absolutely unthinkable.
Words cannot adequately describe the utter horror that was unleashed on the streets of Paris, France on Friday. CNN is calling it “the worst violence witnessed in France since World War II“, and even though it happened a couple of days ago now, many of us are still having a really tough time processing what took place. Somehow, a small group of less than 10 radical Islamists was able to unleash a coordinated wave of attacks that killed at least 129 people and injured at least 350. All of this comes less than a year after the Charlie Hebdo massacre in Paris, and many in the western world are now starting to understand that something has fundamentally changed. Even though France has a highly advanced anti-terrorism infrastructure, and even though it also has some of the strictest anti-gun laws in Europe, none of that did anything to prevent these attacks. Despite all of our advanced technology, the openness of our society makes us highly vulnerable to Islamic terror. And as more waves of refugees from the Middle East are absorbed by both Europe and the United States, it is inevitable that there will be more attacks like this.
According to Google, the definition of a “soft target” is “a person or thing that is relatively unprotected or vulnerable, especially to military or terrorist attack.” And as we just saw in France, the western world is literally teeming with soft targets. I am talking about sporting events, concert halls, schools, churches, shopping malls, power stations, water treatment facilities, mass transit, etc.
For those that wish to create terror, the opportunities are endless.
In the western world, we generally rely on certain deterrents in order to maintain order. Most sane people do not want to be shot, and most sane people do not want to go to prison.
But what do you do when there are large numbers of crazy people that are actually looking forward to being martyrs?
We don’t really have a defense for the kind of attack that we just witnessed in France. What can you really do when you are dealing with large numbers of homicidal maniacs that are not afraid to die and that can strike anywhere at any time? Unless you can identify the terrorists or their plans ahead of time, it becomes a guessing game.
And the level of evil demonstrated by these terrorists is truly astounding. At the Bataclan Theater, two of the terrorists fired their AK-47s indiscriminately into the crowd for a full 10 minutes…
At the Bataclan Theater, at least 75 people attending a concert by a U.S. rock band were killed and many more injured, according to authorities. Eyewitnesses spoke of two young men armed with AK47 assault rifles firing repetitively and dispassionately into the crowded venue, targeting helpless victims cowering on the floor.
Julien Pearce, a radio reporter who was inside the concert hall, told CNN he saw two terrorists at the back of the venue, “firing randomly to the crowd. People yelled, screamed, everybody lying on the floor. And it lasted for ten minutes, ten minutes, ten horrific minutes, where everybody was on the floor covering their heads.”
But these latest attacks are just part of a wider trend of chaos and terror that has descended upon western Europe. For much, much more on this, please check out this video.
Sadly, what Europe is currently experiencing is coming here too.
When I first start dealing with someone new, I watch to see if that individual will actually follow through on what he or she has promised. Sometimes this happens, but sometimes it does not.
In the case of ISIS, I would have to say that they are indeed following through on what they said they would do. Tonight, much of Europe is completely gripped by fear and terror, and the head of ISIS has promised a “direct confrontation” with the United States as well…
Abu Bakr al-Baghdadi, the leader of the Islamic State of Iraq and Syria (ISIS), issued a rare audio message back on January 21 in which he flatly stated his group’s intention to march on Baghdad and move into “direct confrontation” with the United States.
“Our last message is to the Americans. Soon we will be in direct confrontation, and the sons of Islam have prepared for such a day,” Baghdadi said. “So watch, for we are with you, watching.”
As WND has pointed out, there have been dozens of Islamic terror attacks on U.S. soil since 2001, but most of them have been relatively small.
Unfortunately, I believe that we are moving into a new era. Instead of just being satisfied with killing dozens or hundreds of people, these terrorists will start getting a hold of weapons that can kill thousands. Eventually we will see terror attacks inside this country that will make 9/11 look like a Sunday picnic. And Barack Obama is certainly not helping things by “resettling” thousands upon thousands of Syrian refugees in communities all over America.
Of course increasing terror is just a part of the overall picture. Many have described what is coming to the United States and Europe as a “perfect storm”, and I would agree with that assessment.
Even without Islamic terror, we live at a time of rising civil unrest. The deep divisions in our country have been demonstrated by what happened in Ferguson, in Baltimore and more recently at the University of Missouri. Americans are angrier and more frustrated than ever before, and the mainstream media is constantly playing up the divisions between various groups. And thanks to Barack Obama’s refusal to protect our borders, there are now 1.4 million members of criminal gangs living in our cities. Violent crime is already on the rise in our urban areas, and it is going to get even worse as we plunge into recession. For instance, the city of Baltimore recently recorded its 300th homicide of the year after only seeing 211 for all of 2014. Our major cities have never been more primed for civil unrest, and I believe that we are going to see widespread rioting, looting and chaos in the years ahead as the economy totally falls to pieces.
In addition to increased Islamic terror and civil unrest, I also believe we are moving into a time of great governmental shaking, increased tensions between global superpowers, unprecedented natural disasters, and the greatest financial unraveling the world has ever seen.
All of these trends will feed into one another to create the “perfect storm” that I mentioned earlier. What this is going to mean is a dramatic change in our standard of living, our liberties and freedoms will continue to be stripped away, and our world is going to be transformed at a pace that very few of us ever imagined was possible.
If you have the feeling that everything has changed after what just happened in France, you are right.
But this is just the beginning.
What is coming in the weeks and months ahead is going to be even worse, and it is going to shock the entire planet.
What you are about to see is more evidence that the growth of poverty in the United States is wildly out of control. It turns out that there is a tremendous amount of suffering in “the wealthiest nation on the planet”, and it is getting worse with each passing year. During this election season, politicians of all stripes are running around telling all of us how great we are, but is that really true? As you will see below, poverty is reaching unprecedented levels in this country, and the middle class is steadily dying. There aren’t enough good jobs to go around, dependence on the government has never been greater, and it is our children that are being hit the hardest. If we have this many people living on the edge of despair now, while times are “good”, what are things going to look like when our economy really starts falling apart? The following are 21 facts about the explosive growth of poverty in America that will blow your mind…
#1 The U.S. Census Bureau says that nearly 47 million Americans are living in poverty right now.
#2 Other numbers from the U.S. Census Bureau are also very disturbing. For example, in 2007 about one out of every eight children in America was on food stamps. Today, that number is one out of every five.
#3 According to Kathryn J. Edin and H. Luke Shaefer, the authors of a new book entitled “$2.00 a Day: Living on Almost Nothing in America“, there are 1.5 million “ultrapoor” households in the United States that live on less than two dollars a day. That number has doubled since 1996.
#4 46 million Americans use food banks each year, and lines start forming at some U.S. food banks as early as 6:30 in the morning because people want to get something before the food supplies run out.
#5 The number of homeless children in the U.S. has increased by 60 percent over the past six years.
#6 According to Poverty USA, 1.6 million American children slept in a homeless shelter or some other form of emergency housing last year.
#7 Police in New York City have identified 80 separate homeless encampments in the city, and the homeless crisis there has gotten so bad that it is being described as an “epidemic”.
#8 If you can believe it, more than half of all students in our public schools are poor enough to qualify for school lunch subsidies.
#9 According to a Census Bureau report that was released a while back, 65 percent of all children in the U.S. are living in a home that receives some form of aid from the federal government.
#10 According to a report that was published by UNICEF, almost one-third of all children in this country “live in households with an income below 60 percent of the national median income”.
#11 When it comes to child poverty, the United States ranks 36th out of the 41 “wealthy nations” that UNICEF looked at.
#12 The number of Americans that are living in concentrated areas of high poverty has doubled since the year 2000.
#13 An astounding 45 percent of all African-American children in the United States live in areas of “concentrated poverty”.
#14 40.9 percent of all children in the United States that are being raised by a single parent are living in poverty.
#15 An astounding 48.8 percent of all 25-year-old Americans still live at home with their parents.
#16 There are simply not enough good jobs to go around anymore. It may be hard to believe, but 51 percent of all American workers make less than $30,000 a year.
#17 There are 7.9 million working age Americans that are “officially unemployed” right now and another 94.7 million working age Americans that are considered to be “not in the labor force”. When you add those two numbers together, you get a grand total of 102.6 million working age Americans that do not have a job right now.
#18 Owning a home has traditionally been a signal that you belong to the middle class. That is why it is so alarming that the rate of homeownership in the United States has been falling for eight years in a row.
#19 According to a recent Pew survey, approximately 70 percent of all Americans believe that “debt is a necessity in their lives”.
#20 At this point, 25 percent of all Americans have a negative net worth. That means that the value of what they owe is greater than the value of everything that they own.
#21 The top 0.1 percent of all American families have about as much wealth as the bottom 90 percent of all American families combined.
If we truly are “the greatest nation on the planet”, then why can’t we even take care of our own people?
Why are there tens of millions of us living in poverty?
Perhaps we really aren’t so great after all.
It would be one thing if economic conditions were getting better and poverty was in decline. At least then we could be talking about the improvement we were making. But despite the fact that we are stealing more than a hundred million dollars from future generations of Americans every single hour of every single day, poverty just continues to grow like an aggressive form of cancer.
So what is wrong?
Why can’t we get this thing fixed?
Tell us what you think we should do as a nation to solve this problem by posting a comment below…
The global elite have never been closer to their goal of a united world. Thanks to a series of interlocking treaties and international agreements, the governance of this planet is increasingly becoming globalized and centralized, but most people don’t seem alarmed by this at all. In the past 30 days, we have seen some of the biggest steps toward a one world government, a one world economy and a one world religion that we have ever witnessed, but these events have sparked very little public discussion or debate. So please share this article with as many people as you can. We need to wake people up about this before it is too late.
From September 25th to September 27th, the United Nations launched a “new universal agenda” for humanity. Those are not my words, they actually come directly out of the core document for this new agenda. The Pope traveled to New York City to give the address that kicked off this conference, thus giving his considerable endorsement to this new plan. Virtually every nation on the entire planet willingly signed up for the 17 goals that are included in this plan, but this stunning turn of events made very few international headlines.
The United Nations is promising that if we all work together that we can turn our planet into some kind of “utopia”, but the truth is that all of this talk about “unity” masks a very insidious agenda. The following comes from a recent piece by Paul McGuire, the author of a groundbreaking new book entitled “The Babylon Code”…
The UN is not asking permission, but issuing a command that the entire planet will commit to 17 sustainable development goals and 169 sustainable development targets designed to radically transform our world by 2030. The UN 2030 plan promoted by the Pope will advance Agenda 21 on steroids. Through a controlled media the mass populations will be told that this is all about saving the environment and “ending poverty.” But that is not the true agenda of Agenda 21. The true agenda of Agenda 21 is to establish a global government, global economic system, and global religion. When UN Secretary General Ban Ki-Moon spoke of “a dream of a world of peace and dignity for all” this is no different than when the Communists promised the people a “workers paradise.”
For the general population, “the 2030 Agenda” has been rebranded as “the global goals”. On September 26th, some of the biggest names in the music world (including Beyonce) promoted these new “global goals” at the “Global Citizen Festival” that was held in Central Park. And you can watch a YouTube video where some of the most famous names on the entire planet urge all of us to get behind these new “global goals” right here.
None of this is by accident. We are being trained to think of ourselves as “global citizens” that belong to a “global community”. Decades ago, most Americans would have been up in arms over something like this. But now most people just seem to accept these changes passively. Very powerful secret societies and international organizations have been moving us in this direction for a very long time, and most Americans simply have no idea what is happening. Here is more from Paul McGuire…
The United Nations is a de facto global government and does not rule by the “consent of the governed.” The United Nations is a global government to which American politicians of both parties have surrendered our Constitutional rights. If you look at the Republican Presidential debates you see the vast majority of those running are “bought men and women.” They are there to do the bidding of their true masters, the international banking families and their interlocking secret societies. If a candidate has a different set of beliefs than the “Orwellian group think” which constitutes domestic and foreign policy, he is allowed to go only so far.
Who are these powerful elite groups and the secret societies that run them? As we extensively document in our new book, The Babylon Code, co-authored by this author and Troy Anderson, a Pulitzer Prize-nominated investigative journalist, there exists a very real network of semi-secretive and secret groups. Groups like The Council on Foreign Relations, The Trilateral Commission, Royal Institute of International Affairs, United Nations, Club of Rome, The Bilderberg Group, and others control presidents, prime ministers, media networks, politicians, CEO’s, and entire nations. You will almost never hear any substantive analysis by the media, which is controlled by these groups nor of attempts at holding them accountable by governments around the world.
Another way that our planet is being “united” is through the use of international trade agreements.
The ultimate goal is for the entire world to become a “single market” with uniform laws, rules and regulations. But as we merge our economy with the rest of the globe, the United States has been losing tens of thousands of businesses and millions of jobs as the monolithic corporations that now dominate our economy shift production to areas where labor is much cheaper. This is absolutely destroying the middle class, but very few people seem to care.
Negotiations for one of the biggest international trade treaties that the world has ever seen recently concluded. The Trans-Pacific Partnership, also known as “Obamatrade”, would represent a giant step toward a truly unified global economy. The following is an excerpt from one of my previous articles…
We have just witnessed one of the most significant steps toward a one world economic system that we have ever seen. Negotiations for the Trans-Pacific Partnership have been completed, and if approved it will create the largest trading bloc on the planet. But this is not just a trade agreement. In this treaty, Barack Obama has thrown in all sorts of things that he never would have been able to get through Congress otherwise. And once this treaty is approved, it will be exceedingly difficult to ever make changes to it. So essentially what is happening is that the Obama agenda is being permanently locked in for 40 percent of the global economy.
The United States, Canada, Japan, Mexico, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam all intend to sign on to this insidious plan. Collectively, these nations have a total population of about 800 million people and a combined GDP of approximately 28 trillion dollars.
And do you want to know who pushed really hard to give Obama fast track negotiating authority so that these negotiations could be brought to a successful conclusion?
It was the traitorous Republican leadership in Congress. They did everything that they could to pave the way for Obamatrade.
We are also seeing some stunning moves in the direction of a one world religion.
In recent years, you may have noticed that it has become very trendy to say that all religions are just different paths to the same God. In fact, many prominent religious leaders are now openly proclaiming that the two biggest faiths on the entire planet, Christianity and Islam, worship the exact same deity.
For example, just consider what the Pope is saying publicly on this matter. The following is an extended excerpt from one of my recent articles on End of the American Dream…
What Pope Francis had to say at St. Patrick’s Cathedral in Manhattan has received very little coverage by the mainstream media, but it was exceedingly significant. The following is how he began his address…
I would like to express two sentiments for my Muslim brothers and sisters: Firstly, my greetings as they celebrate the feast of sacrifice. I would have wished my greeting to be warmer. My sentiments of closeness, my sentiments of closeness in the face of tragedy. The tragedy that they suffered in Mecca.
In this moment, I give assurances of my prayers. I unite myself with you all. A prayer to almighty god, all merciful.
He did not choose those words by accident. In Islam, Allah is known as “the all-merciful one”. If you doubt this, just do a Google search.
And this is not the first time Pope Francis has used such language. For instance, the following comes from remarks that he made during his very first ecumenical meeting as Pope…
I then greet and cordially thank you all, dear friends belonging to other religious traditions; first of all the Muslims, who worship the one God, living and merciful, and call upon Him in prayer, and all of you. I really appreciate your presence: in it I see a tangible sign of the will to grow in mutual esteem and cooperation for the common good of humanity.
The Catholic Church is aware of the importance of promoting friendship and respect between men and women of different religious traditions – I wish to repeat this: promoting friendship and respect between men and women of different religious traditions – it also attests the valuable work that the Pontifical Council for interreligious dialogue performs.
Pope Francis clearly believes that Christians and Muslims worship the exact same God. And so that helps to explain why he authorized “Islamic prayers and readings from the Quran” at the Vatican for the first time ever back in 2014.
What is happening is undeniable.
We are steamrolling toward a one world government, a one world economy and a one world religion.
Of course we will not get there overnight. It is going to take some time, and there are going to be quite a few bumps along the way. In fact, I believe that our planet will experience an extreme amount of chaos before we actually get there.
But every major crisis will be used as an excuse to advance this agenda. Virtually every solution that the elite offer us will involve more globalization and more centralization. We will be told that all of our problems will be solved if humanity will just come together in unity.
For some, the goal of a “united planet” where we are all working together to eradicate things like poverty, war and disease makes all the sense in the world.
For others, a one world government, a one world economy and a one world religion would simply mean setting the stage for “one world tyranny”.
So what do you think? Please feel free to share your thoughts by posting a comment below…