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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

So why have they chosen New Zealand?

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

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

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

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

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

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

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

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

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

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

But survival comes at a price.

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

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

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

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

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

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

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

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

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

Cities Of Refuge: Why Are People Creating Hundreds Of Places Of Refuge All Over America?

Place Of Refuge - Public DomainAll over the United States, cities of refuge are being created.  Now when I say “cities”, I don’t mean vast areas of land that can hold hundreds of thousands or millions of people.  Rather, I am talking about much smaller places of refuge that can accommodate dozens or hundreds of people.  In a few cases, I know of places of refuge that will be able to take in thousands of people, but that is about as big as they get.  There are individuals all across America that have specifically felt called to build communities where large numbers of people will be able to gather when society totally collapses.  So why is this happening?  Why do so many people feel such an urgency to create cities of refuge that would presumably never be used if we don’t ever see full-blown societal breakdown?

In the headline, I claimed that hundreds of these “cities of refuge” are being created, but the truth is that it could easily be thousands.  I have personally talked to countless numbers of people that are like my wife and I and are planning to be able to take in members of their own extended families when things get really crazy.  But there are others that are taking things to an entirely different level.

I was recently contacted by a man in New York state that plans to convert a hotel and surrounding facilities into a place of refuge that could potentially accommodate hundreds of people for an extended period of time.  I know of a ranch in southern Idaho where the staff has been feverishly preparing to take in thousands of people when society starts completely falling apart.  And I have corresponded with so many others both inside the United States and outside the country that are creating these types of communities.

It has been estimated that there are three million preppers in America today.  But those that are creating these places of refuge are not just “prepping” for themselves.  Instead, they feel called to prepare a place of safety where others will be able to gather when times get really crazy.

Due to the wide reach of my articles, I have had a lot of people involved in these communities reach out to me over time.  Some have graciously let my wife and I know that there is a place for us if needed during a major emergency, and others have wanted for us to become personally involved in what they are doing.  I wish that I could get involved in all of them, but there is a limit to what any one of us can do.  But I always encourage people to keep pressing forward with their preparations, because without a doubt they will be needed someday.

In addition to what is happening inside the United States, there are others that have already left this country and are creating places of refuge abroad.  There are people that are doing this in South America, Canada, Australia, New Zealand and the Middle East.

And of course every “place of refuge” looks different.  As I mentioned above, some plan on transforming existing hotels or ranches into places of refuge.  Others plan to use open land to host large numbers of RVs or to construct vast tent cities.

But there are five big things that all places of refuge need to be thinking about…

1. Food – It is going to take vast quantitites of food to even feed dozens of people.  When you are talking about hundreds or thousands of people, the amount of food required for a place of refuge will be off the charts.

2. Water – None of us can live without water, and it has been estimated that the average American uses 80 to 100 gallons of water every single day.  Of course we would all use a lot less during an emergency situation, but if your “place of refuge” does not have easy access to water that could become a major problem very rapidly.

3. Shelter – It is nice to think that you are going to take in a lot of people, but where are all of them going to sleep?  Most people don’t think of mattresses or cots as “survival items”, but the truth is that they are going to be greatly in demand when things get crazy.

4. Power – If the electricity goes off and stays off for an extended period of time, what are you going to do?  How will people stay warm, how will you cook food, and how will your community function without any artificial light whatsoever?  Having an alternative source of power for your place of refuge is very important.

5. Security – If there was a full-blown collapse of society, any place that still has ample resources is automatically going to become a target.  So it is great if you have everything that your community will need, but if you have no way to protect it you can end up losing it all very quickly.

For even more tips on preparing for what is ahead, please see my recent article entitled “70 Tips That Will Help You Survive What Is Going To Happen To America“.

There are a lot of preppers out there that are only preparing for themselves and their immediate families, and anyone else that comes looking for assistance when things get really hard will end up looking down the barrel of a shotgun.

But there are so many others that feel called by God to prepare a place for large numbers of people to gather during the coming storm.  They are doing this by faith, because such places have never been needed before in modern American history.  Perhaps if you go all the way back to the Great Depression of the 1930s you could find large groups of people that needed somewhere to go, but since that time we have generally been regarded as the wealthiest and most prosperous nation on the entire planet.

Unfortunately, things are rapidly changing in this country.  Our economy is in the process of crumbling, there is evidence of social decay all around us, natural disasters are increasing in frequency and intensity, and World War 3 could erupt in the Middle East at any time.

If I am right, the time when these cities of refuge will be needed is not that far away.  Unfortunately, the vast majority of Americans are not preparing for what is ahead, and so most of them will be absolutely devastated by the great trials that are directly ahead of us.