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The Numbers Say That A Major Global Recession Has Already Begun

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Global - Public DomainThe biggest bank in the western world has just come out and declared that the global economy is “already in a recession”.  According to British banking giant HSBC, global trade is down 8.4 percent so far this year, and global GDP expressed in U.S. dollars is down 3.4 percentSo those that are waiting for the next worldwide economic recession to begin can stop waiting.  It is officially here.  As you will see below, money is fleeing emerging markets at a blistering pace, major global banks are stuck with huge loans that will never be repaid, and it looks like a very significant worldwide credit crunch has begun.  Just a few days ago, I explained that the IMF, the UN, the BIS And Citibank were all warning that a major economic crisis could be imminent.  They aren’t just making this stuff up out of thin air, but most Americans still seem to believe that everything is going to be just fine.  The level of blind faith in the system that most people are demonstrating right now is absolutely astounding.

The numbers say that the global economy has not been in this bad shape since the devastating recession that shook the world in 2008 and 2009.  According to HSBC, “we are already in a dollar recession”…

Global trade is also declining at an alarming pace. According to the latest data available in June the year on year change is -8.4%. To find periods of equivalent declines we only really find recessionary periods. This is an interesting point. On one metric we are already in a recession. As can be seen in Chart 3 on the following page, global GDP expressed in US dollars is already negative to the tune of USD 1,37trn or -3.4%. That is, we are already in a dollar recession. 

Here is the chart that Zero Hedge posted along with the quote above.  As you can see, the only time global GDP expressed in U.S. dollars has fallen faster in recent years was during the horrible recession of seven years ago…

HSBC Chart

But there are still a whole lot of incredibly clueless people running around out there claiming that “nothing is happening” even though more signs of trouble are erupting all around us every single day.

For instance, just today CNBC published an article entitled “The US is closer to deflation than you think“, and Twitter just announced that it plans to lay off 8 percent of its entire workforce.

But of course the biggest problems are happening in “emerging markets” right now.  The following is an excerpt from an article that was just published in a major British news source entitled “The world economic order is collapsing and this time there seems no way out“…

Now act three is beginning, but in countries much less able to devise measures to stop financial contagion and whose banks are more precarious. For global finance next flooded the so-called emerging market economies (EMEs), countries such as Turkey, Brazil, Malaysia, China, all riding high on sky-high commodity prices as the China boom, itself fuelled by wild lending, seemed never-ending. China manufactured more cement from 2010-13 than the US had produced over the entire 20th century. It could not last and so it is proving.

China’s banks are, in effect, bust: few of the vast loans they have made can ever be repaid, so they cannot now lend at the rate needed to sustain China’s once super-high but illusory growth rates. China’s real growth is now below that of the Mao years: the economic crisis will spawn a crisis of legitimacy for the deeply corrupt communist party. Commodity prices have crashed.

Money is flooding out of the EMEs, leaving overborrowed companies, indebted households and stricken banks, but EMEs do not have institutions such as the Federal Reserve or European Central Bank to knock up rescue packages. Yet these nations now account for more than half of global GDP. Small wonder the IMF is worried.

It is one thing for The Economic Collapse Blog to warn that “the world economic order is collapsing”, but this is one of the biggest newspapers in the UK.

I was writing about these emerging market problems back in July, but at that time very few really understood the true gravity of the situation.  But now giant banks such as Goldman Sachs are calling this the third stage of the ongoing global financial crisis.  The following comes from a recent CNBC piece entitled “Is EM turmoil the third wave of the financial crisis? Goldman thinks so“…

Emerging markets aren’t just suffering through another market rout—it’s a third wave of the global financial crisis, Goldman Sachs said.

“Increased uncertainty about the fallout from weaker emerging market economies, lower commodity prices and potentially higher U.S. interest rates are raising fresh concerns about the sustainability of asset price rises, marking a new wave in the Global Financial Crisis,” Goldman said in a note dated last week.

The emerging market wave, coinciding with the collapse in commodity prices, follows the U.S. stage, which marked the fallout from the housing crash, and the European stage, when the U.S. crisis spread to the continent’s sovereign debt, the bank said.

You know that it is late in the game when Goldman Sachs starts sounding exactly like The Economic Collapse Blog.  I have been warning about a “series of waves” for years.

When will people wake up?

What is it going to take?

The crisis is happening right now.

Of course many Americans will refuse to acknowledge what is going on until the Dow Jones Industrial Average collapses by several thousand more points.  And that is coming.  But let us all hope that day is delayed for as long as possible, because all of our lives will become much crazier once that happens.

And the truth is that many Americans do understand that bad times are on the horizon.  Just check out the following numbers that were recently reported by CNBC

The CNBC All-America Economic Survey finds views on the current state of the economy about stable, with 23 percent saying it is good or excellent and 42 percent judging it as fair. About a third say the economy is poor, up 3 points from the June survey.

But the percentage of Americans who believe the economy will get worse rose 6 points to 32 percent, the highest level since the government shutdown in 2013. And just 22 percent believe the economy will get better, 2 points lower than June and the lowest level since 2008, when the nation was gripped by recession.

If you want to believe that everything is going to be just fine somehow, then go ahead and believe that.

All I can do is present the facts.  For months I have been warning about this financial crisis, and now it is playing out as a slow-motion train wreck right in front of our eyes.

We are moving into a period of time during which events are going to start to move much more rapidly, and life as we know it is about to change in a major way for all of us.

Hopefully you have already been preparing for what is about to come.

If not, I wouldn’t want to be in your position.

  • Alwaystomorrow

    The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015.

    Published 6/25/2015.

    78 days until 12/31/2015.

    Lets do a count down until the end of 2015 and see just what happens.

    ——————————————————————————

    By Michael S, on July 31st, 2015.

    “And I kind of appreciate the countdown. It reminds people of my warning, and perhaps it will give some readers a renewed sense of urgency”.

    • Malcolm Reynolds

      Alwaystomorrow has issued a RED ALERT for as long as he posts.

      Published 10/7/2015
      “I look at things probably to simple. ”

      “I am not very smart …Yes I loose when markets go up”

      “I told you I am simple ”

      Published 10/5/2015

      “My posts are annoying, irritating, childish….”

      I have no idea what a collapse even looks like but by golly, I’m going to mock and harass the people here because, although I admit I’m a cretin, I know this author is wrong despite the VAST number of links, quotes and charts provided indicating otherwise.

      And if he bans me for the harassment … again, I’ll surely whine like a little girl that wants her dolly … again.

      —————-
      Let’s all congratulate always because, even the village idiot needs a pat on the head every now and then.

      • Watchman

        Malcolm Reynolds I would upvote you if I could. Alwaystrolling is indeed the village idiot but village idiots are not alone. He usually follows along with the likes of Jazz, Sunnytroll and others who just fill up the comment section with toxic and idiotic comments as per their handlers and attacking this website and the author. So it’s up to the readers and commentators to put those trolls in their place and so far you are doing a fine job. Kudos.

        • SunnyFlaSnotress

          Why can’t you upvote? Nun smack your fingers?

          • Watchman

            And the troll Sunny falls for the bait. So predictable. So tell me how is that lack of your phallic fulfillment working out for you or are you simply banned from trolling on feminist websites?

          • SunnyFlaSnotress

            You guys get to say all the good stuff. Now if I type phallic fulfillment, I might get deleted.. let’s see.
            Watchmonkey, phallic fulfillment hasn’t been my primary requisite in years. Now, if you must know, my old boyfriend has been trying to give me phallic fulfillment.. and not that he couldn’t, but I am trying to gear the relationship in a more meaningful way because we have issues to work out and he tends to not want to focus on them.
            Sorry people, I didn’t want to delve but WatchMonkey is very worried about my phallic fulfillment and was likely only to keep alluding to it if I didn’t answer him.

          • Watchman

            You should make up your mind. First you say current boyfriend and now you say your old boyfriend. No please continue your hilarious and not even in a sad way. Make sure not to deviate from the script that your handlers give you.

            By the way it took you that long to come up with a retort? No wonder you can only be a good sheeple and follow the orders your handlers give you.

          • SunnyFlaSnotress

            I sort of have 2 men in my life and we are all in a distant state of flux at this time. I will refer to them as boyfriend A and boyfriend B. Boyfriend B has been messaging me in a sexually alluding manner. He wanted to move in with me last year, but due to a difference on an issue, I didn’t want that to happen. Not too long after, he broke off with me, but has messaged from April on occassion, better? Would you like to know his shoe size?

          • Watchman

            By 2 men you must mean two imaginary men one for day and the other for night so you can pretend you aren’t a lonely cat-woman with 2000 cat’s to keep you company. Even animals don’t want to keep you company what makes you think anyone else would?

          • SunnyFlaSnotress

            You skipped over what i said about you. I must be right.

          • CASTIEL

            lol….so sunny you are a women…i thaught otherwise….

          • Cicero

            2 men in your life? Well then, have a 3some with both of them! Every woman needs to experience that. I bet it will be HOT!

        • Alwaystomorrow

          Here, I will up vote him for you. 😉

      • SunnyFlaSnotress

        Malcolm, you are an AlwaysTommorow wannabee. It’s obvious.

    • Karl

      I don’t think I like you.

      • Alwaystomorrow

        I am glad last night is finally over. I didn’t sleep at all thinking of ways I could get you to like me.

        • CASTIEL

          lol

    • clancy

      I can’t believe that there is only 78 days left in the year 2015. Holy smokes, the time just blows on by.

      Love your countdown.

      • Alwaystomorrow

        Actually there are 79 days left in the year. 78 days left until December 31st.

        • Plextt Plextt

          I think that they hate the fact that reality is merging its way closer to their conscious point of understanding=)

          • Alwaystomorrow

            I think you are correct.

        • alan

          Next you need a count down for Hillary ascending to power.

          • Alwaystomorrow

            Copy and pasting my current countdown is exhausting. I am going to call it quits after this one. :-)

    • SunnyFlaSnotress

      Alwaystomorrow, you are the BEST blogger I have ever read. I always enjoy reading your postings. :)

      • Alwaystomorrow

        Thanks!

        I enjoy being enjoyed but I realy enjoy being hated by inconsequential people more.

        • SunnyFlaSnotress

          lol… ok

  • LiberalsAreHumanExcrement

    the 47% don’t even realize their is an economy to be concerned about

    • Cicero

      And brain-dead redneck conservatives like you can’t even spell “there”.

      • LiberalsAreHumanExcrement

        why do you lick obama’s testicles? are you an effeminate piece of excrement?
        answer=YES

  • stroea

    Crisis, I get that. But what happens now? How can one prepare? If it is like any other financial crisis in the past, many will lose jobs, and money will drift a little closer to worthless, but most people in the U.S. will be ok eventually, though some will need to find a new job. So what is to be done to prepare?

    • GSOB

      Matthew 10:28

      Proverbs 9:10
      , 11

  • Rebel w/out a Cause

    @Always,
    Do you prep? Just curious. Myself, I’ve been a “prepper” since the 70’s. And you know what? Whenever it happens, I’ll be ready. I don’t care about the day and/or time. But sooner or later, we’re going to have to pay the piper. Mock Michael if you need to, it makes no difference to the outcome.

  • JustBill

    I’m curious and nervous at the same time. What actions will we see taken to either kick
    the can down the road, or to accelerate the crash to a planned level?
    Do others think the next actions we see taken by governments and financial
    institutions will reveal to us their preferred ending and perhaps what they plan next?

    • Guest

      How will they respond this time? That’s the question. Can the Federal Reserve expand its balance sheet by a few more trillion without causing a complete loss of confidence in the dollar?

      What’s really scary is that they never had an “exit” plan for all the worthless MBS that they bought from the Too Big To Fail banks. John Titus shows this in his new documentary entitled “Fed Audit Shocker: They Come from Planet Klepto.” Google it.

  • aldownunder

    It’s going to happen sooner or later
    I have noticed the MSM publishing a few more negative (honest) stories lately but only enough to say we told you so when the SHTF
    I am ready have been for a while, but so many people live in a dreamworld and think that governments have got it all under control and it couldn’t happen to them.
    Bring it on I say

    • GSOB

      “You shall not oppress a hired servant who is poor and needy, whether he is one of your countrymen or one of your aliens who is in your land in your towns.

      “You shall give him his wages on his day before the sun sets, for he is poor and sets his heart on it; so that he will not cry against you to the LORD and it become sin in you.…”

      • gfmucci

        Nowhere does it suggest that law-breakers (illegal aliens) should be given handouts. In fact, it is written that the laws of the land should be obeyed – governments should be obeyed. Random reading of out-of-context Bible quotes by Pollyanna do-gooders is part of our economic problem: Ignoring the no worky, no wagey and break law – go to jail parts is corruption, un-Biblical, and brings poverty upon a nation.

  • Rebel w/out a Cause

    I’m not exactly a “bring it on” type person. I’d prefer to be left alone. But – part of me does wish we could get it over with. I’m afraid we Americans will be hesitant to shed blood, but once it starts, there will be no turning back. We’ll be “all in”, as they say.

    • Watchman

      “But – part of me does wish we could get it over with” Just remember the longer that this goes on with these Bullish rallies when the Bears take over the pain and the financial consequences will be even worse than what it was during the 2000’s and 2008. The economic system has been propped up with trillions of bailout money since 2008 and it is a house of cards just waiting to come down like a sand castle near water

      • Rick

        Let’s also apply the proper adjectives, “illegal” bailout money.

  • DJohn1

    Nice! The timing could not be better. With a Presidential Election coming up. But the same dumb people elect the same people to Congress regardless.
    The head in the sand crowd appear to be in the majority.
    My suggestion is they are brain-washed.
    I have noticed subliminals active on several elections and the one that appears to be the better person in control of themselves usually wins.
    The public generally does not keep up with what is going on.
    They vote with their heart rather than their head.
    There were a whole bunch of subliminals with a name like Obama.
    Public Relations is where the war is at.
    The best ads often mean that person wins.
    So why are they publicly announcing in October that they will not raise pensions this year on Social Security Cola? It is an election year.
    I think the people really in charge actually want Donald Trump to win the election for President. That might happen because the current crowd allowed a depression to occur.
    Many of us have been poor for years. Nothing new here.
    That is why I drive a 1995 Toyota Camry instead of a new car.
    That is why a lot of us learn to repair things ourselves.
    That is why the number one purchase in this country isn’t a GM car.
    Now the house of cards is falling down.
    Until the government starts acting like they represent us, this depression will only get worse.
    People are just beginning to wake up.
    When they do wake up, a whole lot of people in this Congress will be retired. Probably prematurely.

    • Flippah

      We have a 1993 Camry with over 320,000 miles and runs strong and starts every time.

      • Lorungee

        1999 Chevy Malibu here.

      • Ron Rico

        Got’s me a 2015 Yamaha 50cc Vino. Only goes 40 mph, but get 120 mpg. Livin, lovin, da da da da, da.

      • CASTIEL

        I have a 1970 Chevrolet El Camino SS 454 LS6 and a BMW 318 is e36 from 1994….New cars?? NEVER.Toyota had made wonderful cars …i had a corolla ae gt 86……great car….but those crap like prius…..or the actual cars that look like computers no way…..i like old school and those cars arent made anymore :(

        • SunnyFlaSnotress

          Your Dad was Italian. Your Mom was English.

          • CASTIEL

            have you meet them? why you say that?

          • Watchman

            She says that because she is a troll.

          • SunnyFlaSnotress

            Watchmonkey,I hope they clean your cage, cuz it stinks.

          • LOL

            Totally not a troll.

          • SunnyFlaSnotress

            “why i say that?” well i’m right aren’t I?

          • CASTIEL

            well i m curious why you made that conclusion

      • Alwaystomorrow

        2013 Ram 1500
        2013 Dodge avenger
        2008 Chevrolet Corvette

      • Pretty impressive

        if there was a road @ normal Earth gravity (and so on) around Jupiter´s equator, you would already have driven around the entire effin´ planet, think about it.

    • SunnyFlaSnotress

      Well, let me ask you this, did you vote around 8 years ago in the Primary?

      • DJohn1

        Yes. I never miss voting.
        Did I make mistakes. Yes. Do I correct those mistakes whenever possible. Yes.

        • SunnyFlaSnotress

          good!.. good!.. but I bet you voted Republican and you’re a white guy, right?

          • DJohn1

            Wrong again!
            I am white. Voted Democrat. That was one of the mistakes.
            Doesn’t really matter one way or another whether you are white, yellow, or black. If you have preconceived notions then you are looking for stereotypes not facts.
            Both parties have very little to offer.
            As for racial characteristics, I defy anyone to take a DNA test to determine exactly what pure race you belong to. I am Caucasian by birth and I was born in England during World War II.
            My father shaved twice a day. I shave about once or twice a week. That is generally a Mongolian racial characteristic. My brother also inherited that characteristic.
            I have seen a good portion of the world and I have seen schools in Ohio, California, Canada, and England. I am also a US Air Force Veteran and I earned my citizenship during the Vietnam Conflict.
            NO race has a monopoly on talent or lack there of. We also have idiots in all three races.

          • SunnyFlaSnotress

            So then you likely voted Obama in the first time if you are Democrat,right?

          • jhowell882

            what was the other choice? john McCain? BAWHAHAHAHAHAHHAHAHAH

          • AzDi

            …. Obama has done more damage to this country than any other president ever. Came in with 9 Trillion debt, and here we are after 8 years up to almost 20 trillion. And yet, has any citizen in the US benefited from his and the Federal Reserve actions? NO

            Lower unemployment because millions are not able to find a job. More poverty and welfare costs. Less good jobs and more part time jobs. Just to mention a few.

            So what was wrong with voting for the “right” Republican who knows how to fix the economy. Romney would have done a good job with his business experience, but, oh no…. idiots like you vote for a person who promised to transform America. Did you ever vet him to try to find out just what he meant and what he planned to do? I did, and everything that is happening today was foretold just looking at his history!

          • Rick

            I agree with almost everything you say, except where you say “people don’t vote for color”. Please check your facts here. As I recall, obama received almost 98% of the black vote in 2008, and around 96% again in 2012. And it did matter in both outcomes.

          • Plextt Plextt

            Heads of tails you lose. The puppet masters run the show and they get away with it because of people like you=) WAKE UP!!!!!!!!!!!!!!

    • Rick

      I can only add, a whole lot of people in Congress should be retiring to places like San Quentin, and Federal torture hotels…also, interesting chart above. With the huge drop in 2008, how many people went to prison for their illegal contributions to that? Zero? Then on the upswing, if you draw a straight line from the nadir in 2009 to the peak in late 2014, this is how a healthy recovery should have looked. Instead we see other illegal activity by people like Tim Geithner, and others in congress and in the Oval Office who stimulated Wall Street, not the economy, Wall Street cronies. If they had let the natural course of a recovery take place, we wouldn’t be driving 1995 automobiles… So how many of these people went to jail? None, because they know the Idiocracy we live in will allow them do do these and even more horrible things… I.e. Can anyone say Bengahzi?

      • AzDi

        The secretive Federal Reserve is more to blame than congress. They are the ones who are manalipulating everything. But, yes this big Government from many years of doing whatever they want are definitely to blame also!

        • Rick

          I agree whole heartedly with that.

    • Evan Elliott

      I have a 1992 Camry we are trying to get fixed. The car died in flight and im stumped since. Has been in fam since new. LOL I love how we all have Camrys.

      • DJohn1

        Your ground on the battery negative terminal should go to a bolt on the firewall or engine. If something disrupts that ground wire then the engine will not work. Turn the key to on and wiggle the ground wire to the firewall. You might hear it beep at some point then.
        I am no mechanic but I have had that happen on an old toyota truck before where the wire came lose and killled the truck.

        • Evan Elliott

          That actually seems to be the problem!!!!!! Wow thank you, because I was going nuts!!! We will have to repair this.

        • Russell Green Osborne

          Seriously. You just fixed a problem I’m having with a 2003 Echo.

          Come for economic collapse analysis; stay for the car troubleshooting.

  • K

    In all honesty, unless you have substantial funds. It is already too late. It took me 12 years, to get to where I am. I could only afford a little at a time. That does not mean people should give up. It just means it is too late for a poor person to truly prepare. However any preparation is better then none.

  • TIRED

    I never really believed in the Plunge Protection Team Theory- But from watching the last crisis develop and come back- I am convinced that massive buying and collateral are being placed as needed. Just where and when will they lose control ? And how much more damage will they do ? I am thankful for every day that I get to prepare- but know each day will make things worse in the world. Just amazed and Dazed!

  • Catman

    Imagine a world as depicted in the movie The Book of Eli. Who could possibly prepare for something like that? Who would want to live in a world like that? Death would be preferable.

    • GSOB

      Deuteronomy 7:1-3

    • WM

      Book of Eli isn’t that bad compared to THE ROAD.

      • Catman

        I’ll check it out.

  • GSOB

    The Lord will cut off Jerusalem’s and Judah’s food and water supplies and kill her leaders; he will destroy her armies, judges, prophets, elders, army officers, businessmen, lawyers, magicians, and politicians.
    Israel’s kings will be like babies, ruling childishly. And the worst sort of anarchy will prevail—everyone stepping on someone else, neighbors fighting neighbors, youths revolting against authority, criminals sneering at honorable men.

    In those days a man will say to his brother, “You have some extra clothing, so you be our king and take care of this mess.”

    “No!” he will reply. “I cannot be of any help! I have no extra food or clothes. Don’t get me involved!”

    Israel’s civil government will be in utter ruin because the Jews have spoken out against their Lord and will not worship him; they offend his glory. The very look on their faces gives them away and shows their guilt. And they boast that their sin is equal to the sin of Sodom; they are not even ashamed. What a catastrophe! They have doomed themselves.

    But all is well for the godly man. Tell him, “What a reward you are going to get!”
    But say to the wicked, “Your doom is sure. You too shall get your just deserts. Your well-earned punishment is on the way.”

    O my people! Can’t you see what fools your rulers are? Weak as women! Foolish as little children playing king. True leaders? No, misleaders! Leading you down the garden path to destruction.

    • GSOB

      Fulfilled

      • GSOB

        True!

        But then there is Romans 15:4

        &

        Hebrews 13:7, 8

        • GSOB

          “I vow that because of what you have done, I will cause your own household to rebel against you.

          I will give your wives to another man, and he will go to bed with them in public view.

          You did it secretly, but I will do this to you openly, in the sight of all Israel.’”

          2 SAM 12:11, 12

          • GSOB

            Deuteronomy 31:8
            The LORD himself goes before you and will be with you; he will never leave you nor forsake you. Do not be afraid; do not be discouraged.”

          • GSOB

            “If anyone loves me, he will obey my teaching.
            My Father will love him, and we will come to him and make our home with him.”

          • GSOB

            John 8:31
            To the Jews who had believed him, Jesus said, “If you hold to my teaching, you are really my disciples.

          • GSOB

            Let the word of Christ richly dwell within you, with all wisdom teaching and admonishing one another with psalms and hymns and spiritual songs, singing with thankfulness in your hearts to God. Whatever you do in word or deed, do all in the name of the Lord Jesus, giving thanks through Him to God the Father.

          • alan

            I don’t seem to see much about economics in there. I do see lotto numbers though.

          • Alwaystomorrow

            More bible verses please!

    • John Byde

      So you’re saying I should cancel my Christmas Holiday to Israel, then? Come on, YES OR NO!!

  • John Noyb

    Funny thing is Michael – you can write these articles after all the SHTF and a lot of people that respond to this blog STILL won’t believe a word you have written – saying you are just a conspiritorial nut. People just don’t get it that the dollar has to go by the wayside in order for there to come about a one world monetary system and a one world government as the U.N. has laid out in its Agenda 2030. But – that’s all just conspiricy stuff anyway and you don’t have to be concerned it’s really going to happen – after all, this is the United States and nothing really bad is gonna happen – right?

    • SunnyFlaSnotress

      Michael was WRONG about widespread summer rioting. Michael was WRONG about the Greek Deal. Michael was WRONG about a September stock market crash. Mike was WRONG about the USA stand on Assad.

      • Watchman

        Wow who would have seen that coming. Cut and paste Sunny. That takes a great deal coming from from a phallic under-fulfilled individual such as yourself. Scratch that you are just a troll being handled.

        • Alwaystomorrow

          Quit flirting. Are you offering to “fill the void” you seem to see?

          • Watchman

            I was waiting for one of you village idiot/trolls to show up. Now is that all you can say or is that all you paid to post for or is it including your ridiculous cut and paste mocking of a countdown. Now be a good troll and follow your handlers.

      • John Byde

        He spelt his own name right.

      • John Noyb

        Dang Sunny – What makes you waste sooo much of your time following and responding to what Michael has to say if he is always so wrong?

      • Cicero

        TESTIFY SISTAH!!!!!!

  • GSOB

    O continue Your lovingkindness to those who know You, And Your righteousness to the upright in heart.

    Let not the foot of pride come upon me, And let not the hand of the wicked drive me away.

    There the doers of iniquity have fallen; They have been thrust down and cannot rise.

  • Richard

    “But let us all hope that day is delayed for as long as possible, because
    all of our lives will become much crazier once that happens.”

    Michael, why do you keep “hoping” that things which you know are going to happen won’t happen? What possible difference can it make whether they happen tomorrow or next month (or year)?

    As I’ve said before, I am led inexorably to the conclusion that your comment is just vapid: that you don’t really “hope” anything of the sort, that you are just posturing to “look good”. Sorry but that’s the way I see it.

    (I’m sure my comment above will send my entry to the bottom of the pile!)

    • GSOB

      But when the kindness of God our Savior and His love for mankind appeared, He saved us, not on the basis of deeds which we have done in righteousness, but according to His mercy, by the washing of regeneration and renewing by the Holy Spirit, whom He poured out upon us richly through Jesus Christ our Savior,…

      Got Christ?

      • Richard

        Uh huh… Right. Thank you for that helpful comment.

    • John Byde

      Michael wants the whole world to burn just so he can be right.

  • Harbinger

    What is about to happen cannot be undone. No matter how loud the watchmen sounds the alarm many will fill to respond to reason. We are unable to learn from history simply because we are fools by nature. “A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and he carries his banners openly. But the traitor moves among those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not traitor, he speaks in the accents familiar to his victims, and he wears their face and their garments, and he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of a city, he infects the body politic so that it can no longer resist. A murderer is less to be feared.” – Cicero, 42 B.C.

    • GSOB

      See how great a love the Father has bestowed on us, that we would be called children of God; and such we are.

      For this reason the world does not know us, because it did not know Him.

      Beloved, now we are children of God, and it has not appeared as yet what we will be.

      We know that when He appears, we will be like Him, because we will see Him just as He is.…

      • Harbinger

        Yes that is one of many verses in the bible: however, you must realize that many will be lost. If a third of the Angels decided to rebel against God, how many men will choose the same course. People seems to be eager to accept a lie but often reject the truth.

        • GSOB

          And the nations of them which are saved shall walk in the light of it: and the kings of the earth do bring their glory and honor into it.
          *************************
          “Behold, the tabernacle of God is among men, and He will dwell among them, and they shall be His people, and God Himself will be among them,…

          • Harbinger

            You can quote the bible all you want, but with out understanding your soap box will devour you. You must realize that no one chose God but God chose us.

    • Watchman

      Great quote Harbinger. I will share one as well from the Matrix (1999):

      Morpheus: I imagine that right now, you’re feeling a bit like Alice. Hmm? Tumbling down the rabbit hole?

      Neo: You could say that.

      Morpheus: I see it in your eyes. You have the look of a man who accepts what he sees because he is expecting to wake up. Ironically, that’s not far from the truth. Do you believe in fate, Neo?

      Neo: No.

      Morpheus: Why not?

      Neo: Because I don’t like the idea that I’m not in control of my life.

      Morpheus: I know *exactly* what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world. You don’t know what it is, but it’s there, like a splinter in your mind, driving you mad. It is this feeling that has brought you to me. Do you know what I’m talking about?

      Neo: The Matrix.

      Morpheus: Do you want to know what it is?

      Neo: Yes.

      Morpheus: The Matrix is everywhere. It is all around us. Even now, in this very room. You can see it when you look out your window or when you turn on your television. You can feel it when you go to work… when you go to church… when you pay your taxes. It is the world that has been pulled over your eyes to blind you from the truth.

      Neo: What truth?

      Morpheus: That you are a slave, Neo. Like everyone else you were born into bondage. Into a prison that you cannot taste or see or touch. A prison for your mind.

  • robert

    “It is He who changes the times and the epochs; He removes kings and
    establishes kings; He gives wisdom to wise men And knowledge to men of
    understanding.” Daniel 2:21

    God put Obama in place (and Mr. Putin) for His own purposes. He is sovereign. He is not wringing His “hands” worrying about what to do next. Many examples where He used foreign powers to judge/punish Israel. He makes no mistakes. We stand and wonder at such power. And yes, even the believers will suffer with the unbelievers. I enjoy the scorners and scoffers on this site. Reinforces my confidence in scripture.

    • GSOB

      Believers learn the call to endure with Him, by Him and for Him….so that they may gain Him.

      For by Him all things were created, both in the heavens and on earth, visible and invisible, whether thrones or dominions or rulers or authorities, all things have been created through Him and for Him.

      He is before all things, and in Him all things hold together.

      He is also head of the body, the church; and He is the beginning, the firstborn from the dead, so that He Himself will come to have first place in everything.…

    • afchief

      God did not put 0lawless in place. WE DID!!! God does not over ride man’s free will.

      With that kind of logic and reasoning, why vote?

      • SunnyFlaSnotress

        You got that right!

      • Willem Verschueren

        God works thru us , don’t forget that

        • afchief

          Really? Show me that in scripture? God does NOT interfere with our freewill.

    • bill

      Most people never understand this.

  • GSOB

    Isaiah 53:5

    But He was pierced for our transgressions, He was crushed for our iniquities; the punishment that brought us peace was on Him, and by His wounds we are healed.

    Acts 20:28

    “And now beware! Be sure that you feed and shepherd God’s flock—his church, purchased with his blood—for the Holy Spirit is holding you responsible as overseers. ”

    • alan

      OK I get ….
      03, 17, 18 45, 53 powerball 06

      • B4, A3, E5, F7, G5, H3… I got your Air Carrier and hurt your Submarine

  • GSOB

    For it is we who are the circumcision, we who serve God by his Spirit, who boast in Christ Jesus, and who put no confidence in the flesh–

    • SunnyFlaSnotress

      leave your mantoy alone

  • “You know that it is late in the game when Goldman Sachs starts sounding exactly like The Economic Collapse Blog.”

    True statement. It is late in the game when Goldman Sachs says anything. When the S&P starts declining, a lot of money will be taken off the table. That money will go somewhere. Our job is to figure out where and start buying now.

  • alan

    This is just a recession in a collapse. Sort of like being hit by a tornado then get rained on.

    • Watchman

      It’s part of the economic wave theory. 1987, 1990’s, 2000’s, 2008, 2015 etc… With each suppression of a full market correction the resulting wave becomes bigger and bigger.

  • Guest

    @GSOB…we get it. Please ease up on the endless posts…Stay on topic…please.

    • SunnyFlaSnotress

      Yeah, GSOB closes his eyes, and picks something in the bible or his religious book and posts it, even though it’s off-topic.
      He’s like the modern day ranting downtown guy online.

      • Rick

        He’s a BSFer, and makes great points.

        • HeyAHuman

          Oh, okay.

  • axinosp PAN

    Wait till you see the student loan bumble explosion and HSBC go bankrupt !!

  • merrileerj

    DJohn1: “…with a presidential election coming up…”????? You actually think this mess is going to hold on & sustain for over a year yet? LOL!

  • Larry First

    “The level of blind faith in the system that most people are
    demonstrating right now is…”

    …because they have not yet lost THEIR job, THEIR car (which, in many cases is the bank’s car), THEIR house (also the bank’s), THEIR bank account, THEIR 401k, or THEIR freedoms. In our predominately narcissistic, self-centered culture, regardless of how grave the news is, or by which authoritative sources the reports come, “As long as you leave me and mine reasonably as-is, as long as it’s Not In My Back Yard, I don’t give a rip!” You tell me, ‘The Greek economy has imploded’…? What has that got to do with what I’m having for dinner tonight or which movie I see this weekend? I don’t live there. They’re on the other side of the world! I don’t care about them!!”

    Until events have significantly, even painfully gripped the vast majority, they will remain among the “Nothing is happening!” crowd. Even then, those who feel by these losses that they have been unfairly deprived, that their “rights” have been violated, that they are entitled to a roof over their heads and an income that supports a comfortable lifestyle, that free health care is a RIGHT … those people will likely take to the streets en masse, and the events of Watts in 1965 or more recently in Ferguson Missouri will be eclipsed by a level of madness and chaos unlike anything ever imagined. That, of course, will simply compound an already escalating state of unrest.

    At that point, it doesn’t take rocket science to realize that such a nationwide civil upheaval could readily prompt the invoking of martial law. National elections could be suspended. Constitutional rights could be revoked. Law enforcement could be nationalized, and we could soon be living in a police state, like Nazi Germany. Anyone too young to be horrified at such a thought needs to spend several days at the Holocaust Museum real soon! Run, don’t walk!!

    This all sounds unbelievably terrifying, and in and of itself, it is. But it will compel many to seek sense, stability and comfort. However, no government, no politician, no religious leader can offer that caliber of help. It can be found only in a personal relationship with God through Jesus Christ, understanding that only His substitutionary death on the cross can fully pay the eternal sin debt we all have accrued.

    Some, even many will wildly discredit this idea (…which is about as wise as trying to discredit gravity). By contrast, they would recommend pursuing the good life by their “chosen means”. That is their prerogative. And the majority will follow their lead. But they have no foundation for preventing you from seeking the solution you choose.

    • itscoming

      If you are not ready yet for what is coming, it is too late. Good luck to all of you;

  • J.L.W

    I still want to know what to do about those close that refuse to prep and would probably resort to trying to steal of me or whinging.

    • itscoming

      Take care of whoever you can. Protect those the closest too you. You are not alone as I deal with these same issues daily.

  • Bruce Crane

    It’s here. I feel sorry for all the graduates and otherwise clueless people who think it’s them, and not the economy.

    In a healthy economy, most of us would be able to find decent work.

    But we’re living in a time where even PHD’s in Physics are having to flip burgers. I think the best thing we could possibly do is to just opt out of the system entirely.

    Save up enough capital, then try to get off the grid and be self sufficient. It’s either that or perpetual debt slavery and unemployment.

  • Dennis Fales

    Never gonna happen. But keep selling those affiliate products!

    • Watchman

      Hey Dennis nice of you to join. You must be new to the team so make sure you listen to what your handlers are telling you.

    • SunnyFlaSnotress

      Dennis, never mind WatchMonkey. His caretakers sometimes lose sight of him and he runs loose.

      • Watchman

        Sunny you follow your handlers directives quite well. You have to defend your introduction of another troll onto this forum called Dennis “Fails”.

    • HeyAHuman

      What’s never gonna happen, pray tell?

  • jakartaman

    Credit stops – freebies stop – run on the banks – 401k’s are seized.
    martial law is instituted- Civil disobedience and riots begin,
    Food in short supply – electric grid goes down – hospitals can not cope.medicines are scarce. Floods of migrants come in. Regional wars start. – Measured nuclear exchanges begin to occur. Then it starts to get real ugly!!!

    • willkes

      None of that is going to happen. It’s just not.

      • jakartaman

        Thanks – You have reassured me. I was losing it for awhile.
        BTW Could you explain why you do not believe it will happen?

        • willkes

          Chitty things might happen, I however, don’t think it will get quite as out of hand as you do.

  • Just two things.
    1. I think many people can see the economic crisis ahead but they are powerless to do anything about it. All they can do with their already limited resources is live life as naturally as possible until it happens. Then deal with it. Or look to the supreme rulers for a new economic system…
    2. This is just a thought and i would appreciate feedback. Do you think that China would really be that hurt by an economic collapse? Could they not just fall back on their communist practices to ride out any economic collapse? They just seemed to me to be a communist country that took advantage of the capitalist ideology to re-establish themselves on the global scene. Something makes me think that communist countries could weather an economic collapse better than a capitalist economy. Any thoughts?

    • FortuneSeek3rz

      The Chinese have a much older culture than America yet their economy is behind America in terms of nominal GDP despite the fact they have over three times as many people. So, while their people may be more accustomed to living in an “economic collapse” type of environment, the U.S. is still a much better place to live to weather a collapse.

      However, the chances the U.S. economy is going to “collapse” is almost zero. Too many parts of the world are dependent on U.S. consumers. There will be a worldwide effort to prevent the collapse from happening if it ever becomes probable. A recession and a “collapse” are not the same thing.

  • JR_Wakefield

    We in Canada are going to have a federal election on the 19th. The Liberals are way ahead in the polls. They are promising deficits for 4 years to “stimulate” the economy. The conservatives are warning that the world economy is unstable and we should keep our cards close. The liberals, and the people who vote for them, are going to get a rude awakening when this ton of bricks fall on them.

  • Алексей К.

    You absolutely right in judging most people will go around thinking everything is going to be fine no matter what facts you’d poke their noze into. People just don’t want to accept bad news enjoing the normalcy bias just as long as it’s possible. It’s not until they start loosing their savings, something they value that they wake out of the dormancy they have been snoozed into by the paid-for puppet MSM. This is the sad fact of life I’ve learned trying to knock on the people around me and just being ridiculed on most occasions. All this means is the magnitude of the calamity we are heading into with so many disbeliving and unprepared sheeple waking up to cruel reality within short period. People may turn into an uncontrolled herd crashing everything around and off thier way. Is this the reason abundant FEMA camps have been carefully erected and stuffed by caring government years in advance.

  • Evan Elliott

    People really seem to be blind. In Salt Lake, much like many other cities people just keep trying to get rid of the homeless, failing to understand that the number of homeless are only on the rise. We dont have an economy to provide jobs to all of these people anymore. It really has gotten deep to the point where it goes beyond just labeling people and making assumptions. There are no opportunities out there like there used to be. People will just label you crazy now for not believing the lies of the govt. The good times just aren’t going to be back. I have had rough times myself but I stay grateful and humble for what I do have because there but by the grace of god go I.

  • Jim Clark

    stock market up for third consecutive week.
    S & P 500 on pace for its best month in four years.
    Unemployment falling.
    Deficit lowest since 2007
    Warren Buffett predicts great future for our youth.

    Tin Foil brigade still looney-tunes.

  • grumpyhillbilly

    When will people wake up? Maybe after Halloween. Seriously isn’t the lack of consumer spending a sign that most understand the depression of their personal economy?

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