Rapture verdict ad 1
The Beginning Of The End Ad
Gold Buying Guide: Golden Eagle Coins

Recent Posts

Archives

Michael and Meranda's New Show

Michael & Meranda’s New Show

Food for liberty
Economic Collapse DVD The Preppers Blueprint Economic Collapse Blog Get Prepared Now Ad

The South American Financial Crisis Of 2015

Share on FacebookTweet about this on TwitterPin on PinterestShare on Google+Share on LinkedInShare on StumbleUponEmail this to someone

South America - Public DomainMost nations in South America are either already experiencing an economic recession or are right on the verge of one.  In general, South American economies are very heavily dependent on exports, and right now they are being absolutely shredded by the twin blades of a commodity price collapse and a skyrocketing U.S. dollar.  During the boom times in South America, governments and businesses loaded up on tremendous amounts of debt.  Since much of that debt was denominated in U.S. dollars, South American borrowers are now finding that it takes much more of their own local currencies to service and pay back those debts.  At the same time, there is much less demand for commodities being produced by South American nations in the international marketplace.  As a result, South America is heading into a full-blown financial crisis which will cause years of pain for the entire continent.

If you know your financial history, then you know that we have seen this exact same scenario play out before in various parts of the world.  The following comes from a recent CNN article

The dollar’s gains should make history nerds shake in their boots. Its rally in the early 1980s helped trigger Latin America’s debt crisis. Fifteen years later, the greenback surged quickly again, causing Southeast Asian economies, such as Thailand, to collapse after a run on the banks ensued.

In particular, what is going on right now is so similar to what took place back in the early 1980s.  At that time, Latin American governments were swimming in debt, the U.S. dollar was surging and commodity prices were falling.  The conditions were perfect for a debt crisis in Latin America, and that is precisely what happened

When the world economy went into recession in the 1970s and 80s, and oil prices skyrocketed, it created a breaking point for most countries in the region. Developing countries also found themselves in a desperate liquidity crunch. Petroleum exporting countries – flush with cash after the oil price increases of 1973-74 – invested their money with international banks, which ‘recycled’ a major portion of the capital as loans to Latin American governments. The sharp increase in oil prices caused many countries to search out more loans to cover the high prices, and even oil producing countries wanted to use the opportunity to develop further. These oil producers believed that the high prices would remain and would allow them to pay off their additional debt.

As interest rates increased in the United States of America and in Europe in 1979, debt payments also increased, making it harder for borrowing countries to pay back their debts. Deterioration in the exchange rate with the US dollar meant that Latin American governments ended up owing tremendous quantities of their national currencies, as well as losing purchasing power. The contraction of world trade in 1981 caused the prices of primary resources (Latin America’s largest export) to fall.

Sadly, the same mistakes have been repeated once again.  In recent years South American nations have loaded up on vast amounts of debt, and now that commodity prices are tanking and the U.S. dollar is surging, all of that debt is creating tremendous headaches.

For instance, just consider what is happening in Brazil

Brazil’s real plummeted to a 12-year low of 3.34 to the dollar, reflecting the country’s heavy reliance on exports of iron ore and other raw materials to China.

The devaluation tightens the noose on Brazilian companies saddled with $188bn in dollar debt taken out during the glory days of the commodity boom. The oil group Petrobras alone raised $52bn on the US bond markets.

Today, Brazil has the 7th largest economy on the entire planet.

So a major financial crisis in Brazil would be extremely significant.

And that is precisely what is starting to happen.  It is being projected that Brazilian government debt will soon be reduced to junk status, Brazilian stocks have already entered “correction territory“, and economic forecasters say that the Brazilian economy is heading into its worst recession in at least 25 years

Brazil needs to brace itself for some very tough times. Brazilian banks are currently forecasting another economic contraction for the South American country in 2016, marking the first time that Brazil’s economy has shrunk in two consecutive years since the Great Depression.

Last Friday, economist Nelson Teixeira of Switzerland-based financial services holding company Credit Suisse released a revision of his already dour forecast for the Brazilian GDP, moving this year’s numbers from -1.8 percent to -2.4 percent.

The IMF is also projecting that 2015 will be a year of recession for the second largest economy in South America (Argentina) and the third largest economy in South America (Venezuela).

And actually Venezuela is in the deepest trouble of all.  According to a recent Bloomberg article, it appears to be inevitable that there will be a debt default by the Venezuelan government in the very near future…

Harvard University Professor Ricardo Hausmann last year questioned Venezuela’s decision to keep paying bondholders as the country sank deeper into crisis and suggested it stop honoring the debt.

Now, he’s saying Venezuela will have no choice but to default next year.

Hausmann’s comments come as a deepening collapse in oil prices and a shortage of dollars stoke concern Venezuela is fast running out of money to stay current on debt. The country’s bonds plunged last year after Hausmann, who served as Venezuelan planning minister after Hugo Chavez’s failed 1992 coup, raised the specter of default, saying he found “no moral grounds” for the government to pay debt at a time when Venezuelans were facing shortages of everything from basic medicine to toilet paper.

The inflation rate in Venezuela today is an astounding 68.5 percent, and the country is plunging into full-blown economic collapse.  The following comes from Zero Hedge

As we recently warned, the hyperinflationary collapse in Venezuela is reaching its terminal phase. With inflation soaring at least 65%, murder rates the 2nd highest in the world, and chronic food (and toilet paper shortages), the following disturbing clip shows what is rapidly becoming major social unrest in the Maduro’s socialist paradise… and perhaps more importantly, Venezuela shows us what the end game for every fiat money system looks like (and perhaps Janet and her colleagues should remember that).

Here is the video that was mentioned in the excerpt above.  As you watch this, please keep in mind that the United States is on the exact same path that Venezuela has gone down…

Economic chaos is beginning to erupt all over the planet, and the depression that we are entering into will truly be global in scope.

For the moment, many in the United States still believe that what is going on in the rest of the world will not affect us.  But the truth is that we are also right on the verge of a major financial crisis, and it is going to be even worse than what we experienced back in 2008.

So what do you think about what is going on down in South America?

Please feel free to add to the discussion by posting a comment below…

  • Alwaystomorrow

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

    Published 6/25/2015

    156 days until 12/31/2015.

    For fun, lets do a count down every day until the end of 2015 and see just what happens.

    • Guest

      Have you nothing better to do than come here and deride the author for his beliefs which are based on thorough research and analysis? You’re a small man.

      “Judgments are prepared for scorners, and stripes for the back of fools.” Proverbs 19:29

      • Marco

        All he is doing is keeping a countdown until the end of the year. He never said it will or won’t happen, but posting what he does ensures that we don’t forget the alert that was issued so as to keep it front of mind. If it doesn’t occur by the end of this year, it will remind us that doomsdayers tend not to be accurate. If it does happen, then no one can say Michael didn’t tell us so.

        • Alwaystomorrow

          Thank you. I am very surprised as to the resistance this causes. As you said, I am not saying either way. I bet Michael himself would not have a problem with it. It is his blog and he could block it at any time if he thought fit.

          • SunnyFlaSnotress

            I’m not too sure. I think the Discus group may have a hand in the matter of avoiding censorship, while at the same time Discus may not track down certain forms of verbal assaults.

          • Marco

            I find these types of people (die-hard Christian ultra right wing conservatives) lose their mind once anything even remotely questions their belief systems. You can’t blame them unfortunately. They were raised with a book that taught them to not question anything and blindly put their faith into absurd ideologies. Those of us who have the security of conscience to always question and re-evaluate our beliefs and evolve them with the times, know better.

          • Vercingetorix

            You committed an ad hominem ( abusive) fallacy. Evolving beliefs? You don’t believe in absolute truth?

          • Marco

            Ad hominem means personal attacking on something unrelated to the argument. Please read up on fallacies of logic prior to quoting them.

          • Mr. Elephantopolous

            Yes, we ultra right-wing conservatives are just mindless sheep, aren’t we? We believe everything we’re told, especially coming from a “higher power.” Seems we have a lot in common with the average American when the government spouts another phony statistic about unemployment or GDP.
            People who are secure in their beliefs don’t tend to question them unless persuaded otherwise. You share this with the Christians you criticize, as you are quite clearly secure with yours. In fact, you are committed to “questioning” and “re-evaluating” your beliefs even though this approach is itself a belief about human fallibility. Shouldn’t you question this too, to be consistent? But you don’t, and won’t, because it is a reasonable belief. But people who see the complexity and ordered nature of the world, and who refuse to put their faith in an error-prone science to explain it all, hold to an “absurd” ideology.
            Christians and their ideological opponents both accept the explanatory power of reason; Christians simply acknowledge its limits. You don’t.
            Bottom line: You live by faith as much as we do. You just refuse to admit it.

          • Marco

            Case in point to my comment. I posted this less than 24 hours ago and already 9 responses fighting tooth and nail against it. If you were so secure in your beliefs, you wouldn’t need to waste your time responding to me. And it is a waste of time because you are only advancing my case against you.

          • Mr. Elephantopolous

            So why are you responding to me, then? You just confirm what I’ve argued.

            How, exactly, are you “advancing” your case against me when what you say fails to stand the test of logical scrutiny?

            Nice.

          • Marco

            If you were to take the time to read what I wrote, and have the mental capacity to understand such, you would realize that I said that you were advancing my argument, not that I was. My argument being that the moment anyone breathes a whisper of challenging the beliefs you people hold, you go off the deep end and almost start speaking in tongues with your nonsense babble about bible, natural man, reprobate, and then start throwing in references to communist Russia. The logical person would take any information and evaluate it before dismissing it. Of course, I’m not dealing with logical people here.

          • Mr. Elephantopolous

            Am I speaking in tongues? Calling you a commie? A reprobate? I simply point out an inconsistency in your thinking, and all of a sudden I’ve gone off the deep end. You’re the one lacking the ability to think critically and yet according to you I’m the extremist, speaking nonsense.

            It’s almost touching.

          • Marco

            No not you, just your people, of which you subscribe to the same beliefs. Speaking of being “touched,” while I do enjoy a challenging debate, unfortunate you aren’t offering much in the way of logical responses. Calling logic a dogma is stunning, truly. One can no longer debate with someone whose words indicate such a severe departure from reality. I wish you luck in your future endeavors, by the sounds of it, you may need it.

          • Mr. Elephantopolous

            Lol…I never said “logic” is dogmatic. I said YOU are. The difference is as wide as the world.

            I’m sorry if I’m not offering much in the way of “logical” responses. Of course, it helps to be able to discern what is and what is not logical. I made the claim in my first response that you were suffering from the latter. Since you have ignored that claim and instead focused on irrelevancies, I agree with you that further debate (with you, anyway) is pointless.

          • Marco

            Well then I guess you’ll be happy to leave the last word with me, unless of course you wish to go back on what you just said and continue your debate. Debating semantics is a child’s game reserved for those who have nothing else to add to the argument.

          • Human

            If you don’t feed the troll the troll will go away…lololol

          • ShirleyRManley

            Google>>CLICK NEXT TAB FOR MORE INFO AND HELP
            ⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛

          • IsaacLHawk

            Google>>CLICK NEXT TAB FOR MORE INFO AND HELP
            ⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛⚛☤☤☤☤☤⚛

          • jaxon64

            You are truly an idiot—
            Let’s see..would you rather be dealing with leftists like Russia where you end up in a gulag in Siberia for having a non state approved idea or opinion? How about leftist China where you will just be outright killed or imprisoned for life.
            Or would you prefer a muslim country where speaking against their system is torture, beheading or worse–but even in the US it is our militant gays or leftists in this country who will send you to either the PC poor house or outright prison. You can’t get a job in the Science field or at a university if you don’t parrot the unfounded and unprovable claptrap that they espouse as facts…..
            Sorry, but Christians are the most tolerant people I know of–strange how leftists side with someone who will murder them for their views vs a Christian who simply tells them that their behavior is sinful.

          • GSOB

            The reprobate mind has dominated.
            Marco is not an idiot,.. biblically speaking… just an unregenerate.

          • Gay Veteran

            “…The reprobate mind….”

            bet you all excited writing that, but at least you weren’t parroting bible verses

          • Marco

            I’m sorry but there is no mention of Christ in your post, nor an admonishment of me for not mentioning him in mine. I’m not sure if this is the real G-SOB

          • Gay Veteran

            “…but Christians are the most tolerant people I know of….”

            ROFLOL

          • Mr. Elephantopolous

            No one in his right mind doubts that the world is filled with evil (or, for moral skeptics, what corresponds to behavior commonly referred to as “evil.”) So how’s a Christian supposed to react when confronted with it? Do cartwheels?

            Tell us how you would respond to behavior you consider morally objectionable…innocent people being tortured, perhaps. Would you tolerate that?

            Didn’t think so.

            To aver that Christians are tolerant is to say that we love the sinner, but hate the sin. Yes, it’s a trite saying but no less true. Ideally, what God hates, we hate; and what God loves, we love.

          • Marco

            I tend to refrain from arguing theology with those disabled by religion, simply for the fact that those who believe in the bible treat it as though it’s a menu, picking what they want to follow and disregarding all else. Of course that is the greatest form of hypocrisy, but I digress. Because no matter what logical argument is thrown at you, there is always the ability to (might I add, illogically) rely on the old and tired “that’s not my interpretation” shtik. And when one sets up an unprovable and non-disprovable argument, they are living in the realm of fantasy and not logic.

          • Mr. Elephantopolous

            If you are making a claim about the physical world, then — as an empiricist — I can agree with you if that claim can be verified by observation or some other testable method.

            But you don’t limit your claims to the physical world. You make claims beyond it on no evidence whatsoever.

            If a person has had a life-changing religious experience, you reject it offhand as the product of psychological disturbances or altered brain chemistry or some other as-yet undiscovered natural phenomenon. Religious experience has been common throughout human history, and yet its significance to hardcore materialists such as yourself is little more than a delusion…simply on the basis that, because such experiences fall outside the realm of testability/confirmability, they are scientifically meaningless.

            Well, there are some scientists who thought otherwise. Einstein, for one. Karl Popper was another. They acknowledged that science tends to overstep its bounds and make pronouncements about things of which it knows nothing. And never will.

            So call religious belief a “fantasy” if it makes you feel better. It’s no fantasy to those of us who realize the limits of human reason.

          • Gay Veteran

            in 1995, Southern Baptist officials formally renounced the church’s support of slavery and segregation.

          • jakartaman

            Hope you have been practicing that 1 and 1/2 gainer with a twist!!

          • Gay Veteran

            no, but your daddy has, and in a pink tutu

          • Jerry C

            Gay Veteran quoting “…but Christians are the most tolerant people I know of….” ROFLOL

            ROFLMAO! Pot. Meet. Kettle.

          • Gay Veteran

            ROFLOL

          • SunnyFlaSnotress

            Jaxon, I’m flagging you, but don’t worry, Michael is very covetous of his groupies.

          • Marco

            Another case in point. Keep on proving my point.

          • Mr. Elephantopolous

            Simply repeating something over and over proves nothing.

            You implied that theists (Christians) are dogmatic. In holding to the supremacy of reason, you are equally dogmatic. For if reason were the kind of guide you think it is, you wouldn’t be continually “questioning” or “reevaluating” beliefs dependent on it.

            As I said, reason has its limits. The rest is based on faith. Christians acknowledge that. You, however, still don’t get it.

          • Marco

            When dealing with those who aren’t living in the realm of reality, one must sometimes resort to repeating himself on the off chance that in your delusion, you may catch on to a glimmer of reason as it floats by you.

          • Mr. Elephantopolous

            I acknowledge what any empiricist does — that human reason is fallible and prone to error — and you think I’m delusional?

            God grief, get this guy to the psych ward…Stat!

          • Mr. Elephantopolous

            lol…I mean GOOD grief!!!

          • Marco

            You offer nothing further to the debate at this point. I am clearly the victor.

          • Mr. Elephantopolous

            I wasn’t aware this was a contest.

            If it makes you feel better, claim victory.

            Just a reminder…winners don’t have to remind others that they won. The victory speaks for itself.

            What does that say about you?

          • Marco

            I knew you wouldn’t be able to leave it at that. What a sad world you live in. I can turn off the internet and go about my day whereas you have to sit there and ensure you respond, despite saying you wouldn’t, just so you can prove to yourself that you are right. Well okay, I’ll let you have the last word if that’s what you need. I am more secure than that.

          • Marco

            Also, you do realize there is a middle ground between Russian communism and your right-wing fascism, right? No you don’t realize that because people like you only deal in extremes.

          • EgbertThrockmorton1

            I do not know of a single “ultra-right wing conservative” that “blindly” follows anyone or anything. Guess I’m the anomaly in your myopic “security of conscience”? “Absurd theologies” are what most selfish insecure refer to when they speak of their political ideologies and dogmas that they have chosen to embrace as their personal “religion”. So be it. You are making assumptions based on false ideology not based upon facts or evidence. Go ahead, I can play this game all day long. It’s fun dealing with the faux intellectuals.

          • Gay Veteran

            hmmmm, a lot of conservatives loved them some Bush back in the day

          • Jerry C

            BS. Most of us voted for the lessor evil. This time around most of us won’t make the same mistake; even if it means the DemonRats could win. Let. It. Burn. They’re all traitors.

          • Gay Veteran

            indeed
            democrats=republicans

          • Mr. Elephantopolous

            Faux intellectuals. There are plenty of them around. Just check any College of Liberal Arts. Faux intellectuals (as opposed to genuine intellectuals) don’t lack intelligence, just principles. Everything is about “reason,” as if man’s intellect were infallible. But disagree with them and watch how quickly their passions, usually anger, take over: “How dare you disagree with me!”

            And they call us intolerant!

          • Marco

            Congratulation, you are the true embodiment of hypocrisy.

          • Mr. Elephantopolous

            Really? How so?

            A hypocrite claims to have a certain quality/attribute but actually has the opposite quality/attribute. What have I claimed to have that I supposedly lack?

            You, on the other hand, should take a good, long look in the mirror.

          • Marco

            Well for one, admonishing “faux intellectuals” while being the embodiment of one yourself is a good start. For the rest of them, I think you can do that footwork yourself. But you won’t, because that would mean taking an introspective look into your life and seeking to find truth, rather than being settled in the idea that you’ve already found it and need look no further.

          • Mr. Elephantopolous

            Seems to me I said that a faux intellectual (in a sense) makes everything about reason, did I not? Read the post again.
            And you’re claiming I’m a “faux intellectual” by my own standards when I’ve spent the better part of two hours denying that everything’s about reason.

            You can’t be serious. You’re joking, right?

            You really need to go to bed and get some sleep.

          • EgbertThrockmorton1

            Marco perversely “needs” to have everyone he can, see his posts and “realize” just how “right he thinks he is”. Old news for an immature and extremely selfish prat trying desperately to rationalize/excuse/justify his own “beliefs”. It is the hallmark of immaturity as well as insecurity. So be it.

          • Marco

            You need look no further than this blog to find many of them. And no, I won’t further indulge you in your silly game because you have already lost despite failing to see so.

          • EgbertThrockmorton1

            Marco, voting your own comment “UP” is the height of moral cowardice and typical hypocrisy.

          • Marco

            I don’t care what you think. I will continue to vote my own comments up because they are correct and yours are illogical. :-). Have a nice day.

          • EgbertThrockmorton1

            Marco thank you for reinforcing your own insecurity with your response. You must let Teacher know how well you are trying to “hold your own” with the big boys and girls. Your “sense” of “self-worth” is readily apparent in your posts. (and typically expressed)

          • Q

            Plenty of commenters apparently embraces biblical inerrancy, do you know what biblical inerrancy is?

          • EgbertThrockmorton1

            In fact I do. There is “inerrancy” in every political/religious ideology on the face of the Earth as witnessed by the Islamofacists, the Westboro Baptist Church acolytes, and others of similar ilk. People willingly “choose” or parse words and ideologies to believe in all the time. That doesn’t mean a blanket statement of all “right-wing” people are ideologues and cannot think for themselves.

          • El mico

            Top answer.

          • Q

            Do not forget that biblical inerrancy is not “traditional” christianity so to speak, it is a 20th century concept.

            redletterchristians. o rg /the-bible-isnt-perfect-and-it-says-so-itself-innerancy/

            So at best, they are a branche of christianity and they are not the only ones with such faults.

          • jakartaman

            Thank GOD for you arrogant highly intelligent liberals

          • Marco

            Yes thank god for me, minus the arrogant part. Clearly you are the arrogant one.

          • howmchbscnutak

            Sorry to burst your bubble Marco but current events over the last few years have proven beyond a doubt that the only group intolerable of other ideas is the left and their brain dead minions.

          • Marco

            I can see how the right would think that, only because of their incredibly clouded judgement. They said the same thing when inter-racial marriage became legal. In any event, it is the left who is on the right side of history. You can either be on the wrong side, watch from the sidelines, or come join the correct side.

          • GSOB

            judgment
            no ‘e’

          • Marco

            Both can be used. Thanks for playing. Please try again.

          • howmchbscnutak

            Just like a good liberal Marco you refuse to let the facts get in the way of a good story.

          • Marco

            Actually I’m a conservative. But thanks for playing. Better luck next time.

          • howmchbscnutak

            Yea right…..and chickens have lips, pigs fly and the moon really is made out of cheese…….

          • Marco

            Very profound comments. And what a retort. I will certainly take this under advisement and file it in the same folder of credibility as anything else you have to say.

          • Marco

            You are all starting to sound like broken records at this point. Spewing all the same lines as though it was the only retort taught to you by your lords and saviours, the extreme republicans. You go ahead and continue thinking what you want. Fact is, you are wrong and will never open your mind enough to see it. Good luck to you.

          • Jerry C

            Obviously you’re delusional. You should try reading the Bible to help make you sane.

          • Marco

            Reading the bible and then arranging words backwards, upside down, and in all other manners in order to derive a pattern that supports your preconceived notions of how things should be? Like in that link you posted earlier? No but clearly I’m the one who isn’t sane. Give your head a shake.

          • Quetzol-43

            “I find these types of people (die-hard Christian ultra right wing conservatives) lose their mind once anything even remotely questions their belief systems.”

            You mean, like “liberal” progs do?

          • Human

            Liberals are not capable of independent thought. There is nothing that will ever shake my faith in God, but go ahead and spew your liberal limming central planned talking points.

          • Marco

            Atta girl

          • sammid

            Well, so much for the free exchange ideas. Glad you’re so freaking open minded….

          • Marco

            Well thank you!

          • Sam

            This is hilarious. I just watched a video of a guy getting signatures on a petition to give Obama permission to nuke Russia, and libturds signed it without batting an eye. Next up was a petition to support Hillary’s plan to repeal the Bill of Rights. You adhere to your religion of lefty lunacy to a far greater extent than I do my right wing Christianity. The big difference is that God is more powerful than I, where as you actually believe that you are the highest power ever, and we right wingers (and everybody else) should be subjugated for our own good, because you know better.

            You don’t know better (nor do I). God does.

          • G21

            The fact that he neither blocks it nor replies shows that he’s a bigger man than you.

          • Alwaystomorrow

            G21, if the statement you made “The fact that he [Michael] neither blocks it nor replies shows that he’s a bigger man than you” is correct, telling you that he responded to it twice (July 12 and 13th) would now make him a smaller man?

          • G21

            No, it still makes you more of a putz.
            Why not take your immature little criticisms elsewhere? We don’t need or want to see them.

        • Ouida Gabriel

          I agree. I asked Always the same question. When he responded with a logical answer I decided to leave him be. Either way, seeing it everyday or couple days keeps me focused.

      • Dave Jones

        I am willing to look truth in the face whatever it is. I believe terrible times are very near, but I hope I am way wrong. If the next 2 Christmases are “normal”, I’ll be doing a happy dance that I was wrong.

      • Dale

        Um. If Alwaystomorrow wasn’t trying to be derisive there would be no need for him to post the last sentence of his spiel. “For fun…” Neither outcome you describe is fun.

        • Dale

          Sorry Guest. That was meant for Marco’s comment below

        • Alwaystomorrow

          You are correct. I will remove the words “for fun” on future posts.

    • Drowning in Debt

      Get well soon.

    • AvidReader

      Meanwhile, in many parts of the world, collapses are going on. And they’re getting worse by the day.

      • alan

        Exactly, its a process that is slow like being crushed by a Python. I think we have an advantage living in a large country with a lot of resources we control. If your a small country your going to be ran over by the larger ones. Its a survival of the fittest and strongest.

        • Q

          Day 2: LOL @ you doomsayers and your warnings, the lava have only reached my neighbor’s neighbor’s house.

          Day 1: The lava has only reached my neighbor´s house, that prooves you are nothing but sad losers.

          Day 0: FUUUUUUUUUUU

    • Burt Year 2015

      The elite Rich people are the worst scum in the world anyway They are real scum. People like George Soros David Rockefeller Warren Buffett Bill Gates and Ted Turner.

      • We know that, you already told us many times… something else to say more interesting eventually ???

      • Gay Veteran

        and the Koch brothers

    • DB200

      Yep, that is just what the profet Jona did.

      Personally, I hope that Micheal is very wrong. But when I look at the data, he seems to have a very solid case.

    • alan

      The collapse started in 2008 and is on going. Just everyone is too busy trying to keep their heads above the water to realize the boat allready sank.
      By 2025 we will look more like Africa than a first world country. Take a trip to the South East US and you can see the collpase up close and personal.

    • jaxon64

      None of this is about you…what friggin gall to try and usurp someone else’s website and the work that they do.
      If you are so desperate for attention and have such a desire for some kind of twisted validation–go join the losers at F-book or MyFace..but spare us your inadequacies–you’re embarrassing yourself and don’t even know it.

      • Alwaystomorrow

        I love you too.

      • Marco

        Hmm… Seems like you are very intent on silencing dissenters, kinda like those big bad Russians and Chinese communists you keep talking about. Weird how hypocritical you people are.

        • jaxon64

          Again–not the sharpest knife in the drawer are you?
          It has nothing to do with “silencing dissenters.” First of all, he is not dissenting anything.
          It is about being annoying–if I am at a restaurant eating and some rude person is speaking loudly and disrupting my dinner and enjoyment then I will ask them to put away their cell phone or take their call outside.
          Voltaire-a famous leftist–is credited with the quote ” I may find your beliefs repulsive or repugnant, yet I will fight to the death for your right to have and express the freedom of ideas.”( paraphrase)–if only modern leftists understood the difference between allowing people the right to practice their beliefs and the courtesy of not being obnoxious and militant.

          • Marco

            Ooh now ad hominem attacks come into play because you can’t defend yourself any other way lol. Poor thing. Clearly I have dominated this argument and your response is ridiculous. Goodbye.

    • Horiboyable .

      You will eat your sarcasm. The process has already started with Porto Rico, Brazil, Chile, Argentina, Mexico and China to name a few. The dominos have started to fall they just have not reached you yet. There is 168 trillion of official debt, that does not count all the off sheet stuff. The ship is top heavy and it is about to over turn. I think there about 30 countries that will most probably default over the next 2 years. Definitely most of Europe. Germany has the worse demographics that any other country, same with Japan. I just hope you are ready funny man.

      • SunnyFlaSnotress

        I like my sarcasm nicely toasted w/jam.

  • SunnyFlaSnotress

    I think a lot of economies have gotten too dependant on oil exporting which puts their economies on a roller coaster ride.

    • df NJ

      Commodities are dropping like a rock. We should see $600/oz gold and $30/barrel per oil by next year this time.

  • Rob

    This blog is about recessions,,,,which happen all the time. This blog is not about a collapse. Stock markets going down 40%. Big freakin deal.
    Collapse? In December you will say in 3-6 months,

    • df NJ

      I agree, blogs about recessions happen all the time.

    • Burt Year 2015

      Have A very merry BURT Christmas this year!

    • Jerry C

      Normalcy Bias. Look it up.

  • GetReal4U2

    A COLLAPSE is imminent…time is shorter than most think…

    • Burt Year 2015

      Yes it is. Marc Dinger’s big ugly nose is starting to bend down ward. That means A big stock market crash. When his big nose bends all the way down then blows off his face the stock market has crashed.

      • Alwaystomorrow

        Burt Year 2015, you make me smile. Thanks.

  • K

    This is the very reason, I never understood people running to South America. Central America is not much better. Remember the ones on here that said leave the U.S. This is where many of them said they were going. Kinda, out of the frying pan, into the fire.

    • greyprepper

      I always reckoned that South America would be a good place for an expat simply Because they’ve been through so many economic disasters. They’re used to it, and they don’t have very far to fall. Many South Americans lead semi rural lives and while they may lament the temporary loss of first world luxuries, they’re more than capable of tightening their belts and working through a financial crisis without eating each other.
      America on the other hand… geez, I know people here who would curl up and die if they didn’t get their daily 45 min shower lol. An economic crisis in America, as opposed to South America, is a completely different animal. I’d rather have roots in a country that has proven several times over that its capable of getting through an economic crisis rather than be trapped with a populace that (majority, not all) doesn’t even have the grit for blue collar work, never mind food and fuel shortages.

      • K

        Rural is good. That is why I am very rural in the U.S. As an expat, you would find it would take a great deal of time, to be totally accepted. During a crisis an outsider, is often targeted by the local criminals. And in most Countries down south. You would be denied ownership of firearms, to protect yourself in any way. Also, to get anything done at all, bribes are a common factor. While things may be heading in that direction in the U.S. We are not quite there yet.

        • Sandbagger

          Not to mention if their collapse is blamed on America, any American in the country would be a target.

          • K

            Excellent point. Many problems in South America are blamed on the U.S. Some correctly so, some not.

        • Jackie Lange

          greyprepper. You have obviously not been to Panama. Expats can own a gun. They are totally accepted, And the only time you might encounter a bribe situation is when you get stopped for speeding ( do not speed in Panama). Plus we have a 365 growing season plus fish from 2 oceans, so Panama can be completely self-sufficient (you can’t do that in the USA. In the mountains of Panama, where I live, the weather is spring like year round so no air conditioner or heater is needed.

      • alan

        Exactly. An economic collapse in Africa would have almost no meaning.

    • Sandbagger

      I recall the reason for going to S.A. was the Fukushima radiation. Supposedly, “the elite” were going south of the equator for that reason.

    • Jackie Lange

      Panama’s economy is doing GREAT! GDP average this yearis 6.5% Stable government. And a more affordable lifestyle than the USA or Canada or Europe for sure. Plus it is very easy to get a residency visa.

      • K

        Yes, but much of Panama’s economy, involves the canal. Which if North American economies collapse. Ship traffic would drop a good bit. That could really affect Panama. Also the Government has not always been so stable. I agree, it is one of the better choices.

    • We own 100 acres of land in the Ayacucho region of Peru and grow lots of quinoa, corn and potatoes as well as raising chickens, rabbits, cuys, hogs and a few cows. Far, far away from Lima or any other major city.

  • Burt Year 2015

    All the money belongs to the rich fat cats anyway. They own it all. I can’t stand money anyway. It’s evil stuff.

    • Money is not evil, those who use it can be.
      Money is just a mean of exchange. period. It’s neither good nor bad, it is just a thing.

      • GSOB

        Matthew 15:11

  • JailBanksters

    I’ll bet,
    most Americam’s have absolutely no Idea where South America is.

    • alan

      Texas?

    • smooze

      North of us?

      • JailBanksters

        I’ll bet a lot think it’s Mexico

  • DB200

    Hey Michael, again a good article. You mention a certain Janet in this post. I guess you mean this “Bernanke without a beard” :-)?

    Last evening I saw on youtube a very interesting conversation between Mike Maloney and Peter Schiff. Peter tells that after meeting Bernanke personnally he has come to the conclusion that Bernanke really doesn’t understand that the FED policies lead to bubbles and havoc. So your remark will not be understood, unfortunately.

  • ze povin

    Michael , here a brazilian that reads everyday yr blog, and among the others is the last to delete after of couse reading at least some of the others usefull information. In other words, I like yr blog…
    Concerned with the information, I just entered at Brazilian Central Bank and the information there is that they are sitting in 371 billions USD.
    What s happening here is a slowdown affected by global limked to China, as 10 yrs ago USA was Brazil nbr 01 partner then surpassed by China.
    Besides that we are facing and discovering a lot of corruption at Petrobras the main comapny in Brazil, a state company, whose companies involved have all its long tentacles extented to other big utilities etc.. and all looks paralyzed for balance. As Brazilian I believe in the country Institutions that are investigating and after that things will come to improve.
    As well this international crisis will not long forever,, we have USA improving, so looks like that USA was and always will be the locomotive of international business.
    Different of others occasions , even though the dollar is rising is a volatile momentum.
    Rates organizations putting negative on us here they did not take or threw a dark scenario, because maybe with such quantities of USD keeped at the safe.
    Brazil has lot of resources that need to be better employeed , wiht what is happening today , corruption investigation, we hope that we can go up to a new step

  • Perplexed

    As long as the world values the US dollar and the Fed keeps printing money there will be no collapse. Of course, you can’t print money forever.

  • J.C

    Strange, the US economy grew by 2.3% in 2Q and not in too bad shape. If these reports are rigged and we are indeed going to face a collapse, how do these people manage to doctrine these figures without being found out? The market just go up and down up and down heading nowhere with contradicting reports.

  • DJohn1

    I would say that South America is a poor imitation of the United States Economic Disaster.
    Many nations have imitated the United States system.
    And they have all ended up with huge amounts of debt to pay back.
    I suggest that illegal immigrants are here for that reason alone.
    Money back home is getting scarce and they are afraid.
    We, on the other hand, go forth where angels fear to tread.
    Which leads to disaster.
    On the other side of the world are two countries with one liability they cannot really afford and many have starved because of it. They have huge populations to feed.
    And we as a nation for the last 30 years have been feeding both countries by sending our work over to them. In return we get cheap goods no retailer can afford to ignore. Because American goods are too expensive. We are not at the point of starvation yet.
    But we will be.
    Go into any thrift shop like Walmart, Dollar Tree, General Dollar, and Family Dollar, you will see Made in China all over the place.
    Go over to another store and you will pay 3 times as much for the same goods.
    It is complicated. We have a tiger by the tail. If we allow them to starve then they will send human waves like in Korea against us.
    Kill off the population problem.
    On the other hand, we allow it and starve our own people out of employment.
    So which is it going to be?

  • GSOB

    Wow… All that and not one word about the Gospel of God. No Christ at all…. just an inordinate display of reverence for ‘Mary’.

    “Oh, how blind and deaf you are toward God! Why won’t you listen? Why won’t you see?

    Who in all the world is as blind as my own people who are designed to be my messengers of truth?

    Who is so blind as my “dedicated one,” the “servant of the Lord”?

    Sorry Andy, you missed the mark….

  • GSOB

    Nice picture. Where are the clouds?
    There’s got to be clouds.

  • GSOB

    Come, my people, enter into your rooms And close your doors behind you; Hide for a little while Until indignation runs its course. For behold, the LORD is about to come out from His place to punish the inhabitants of the earth for their iniquity; And the earth will reveal her bloodshed And will no longer cover her slain.

    • SunnyFlaSnotress

      did you say blood? OoooOoo .. I’m getting excited

  • sherlock32555

    If you think we have an illegal problem now we will be over run by the south of the border .. This has been in the works for years because they want a new world order. We are suckers to let this happen when Georg Herbert Walker Bush said that he wanted a new world order on the united nations floor. back in the 80’s.. Well they have almost got it done .Hope people will wake up before its to late to turn this mess around.

  • Richard O. Mann

    I can see the local Wal Mart and Kroger and any other grocery store looking like the video after a major crash and burn in the US. I’ve been in local stores just before a “winter” storm being fore cast, and it was crazy. I was amazed at the number of shelves that were empty. And that was just for one very small winter storm here in the South. If we get hit with an EMP event, the US will go dark ages in a matter of days.

    • Sandbagger

      Americans like the “just in time” supply plan. As in, “I’m going to buy emergency supplies just in time.”

      Not. Most won’t GET them in time.

      Whatever foods you like that are imported from South America, you’d better stock up on.

  • GSOB

    “All we had to do was say two things…..

    Number one, that we supported their work.
    And number two, that we wanted to buy their fetal body parts.
    Those were the magic words and they were willing to bend over backwards to accommodate that.”

    Spoken from a true catholic.

  • GSOB

    No human will escape Him,
    … Him who will judge all….

    Prepare to meet him.

    God is the greatest prepper of all.
    He chose us and placed us in union with Jesus Christ before the foundation of the world!
    Get a load of that!

    • heeeehaaaaaaaaw!

      He has prepared a place for us and will not leave as orphans. We will not suffer the wrath of God either. All from the bible.

    • Quetzol-43

      No, those things are called deadites.

  • painthorse

    Brazil holds billions of dollars of US debt…..I wonder how that Works.

  • FreedomFighter2015

    South America is not a big deal for the Globalists, the same as Africa. World (MSM) now is focused on China and not so long time ago – Greece. But subjects and issues are changing rapidly, jumping from other flower onto another one. Soon it may be something else. Very confusing. Keeping us distracted from the real thing. Expect soon some kind of a smoke screen. Elite keeps Us busy and distracted but we need to clear our minds from all this MSM/Internet garbage. Peace.

  • Horiboyable .

    “Politicians and diapers must be changed often, and for the same reason.”

  • Gay Veteran

    bilge

  • G21

    The video above could be captioned, “END RESULT OF SOCIALISM”. We see it happening in Venezuela and Greece because they are more socialist than their neighbors.
    But Hussein Obama and the Democrat Party are forcing socialism on America. Hillary would be as bad, Bernie Sanders would probably be worse.
    Either way, if we don’t get a strong conservative in office (notice I didn’t say “Republican”), the video will be repeated in America too.
    I’m not holding my breath.

  • waketheFup

    We should all know that there are forces/people that want the USA to collapse. They hate the USA and of course the end game is biblical. This could be the time that the remaining few prophecies come to pass. It can happen to the USA and it will be like the towers falling on 9-11. People will be cheering and oh so happy. Shortly after, the world will wish that it hadn’t happened. You will witness unimaginable evil committed by all those so called advanced, diversity loving humans. They are full of it because at the root humans are evil as Hell!

    • df NJ

      I thought man was made in the image of God. Are you saying God is evil?

  • G21

    The lower the price of gold and silver fall, the more I buy. If you have a job, you can afford at least an ounce or two of silver per payday. Most Precious Metals websites offer free shipping, so it’s easy to get.

    I truly believe the day is not far off when gold/silver prices will skyrocket. By then it’ll be too late to get in on the cheap prices.

    Having gold/silver sitting in my safe gives me a feeling of security that’s hard to describe. I know that even if I don’t live to see the day when metals prices go astronomic, my children will. And if it all falls apart, I’ll still be able to participate in whatever economy survives.

    • df NJ

      Or, gold could continue to drop to $800/oz in a year or two once interest rates start rising.

  • Mondobeyondo

    Sadly, Brazil, Argentina, Venezuela and several other South American nations are well acquainted with hyperinflation and its results, and the friendly neighborhood International Monetary Fund (yikes!). Always ready to bail your derriere out – at a price, of course. They’ll get your country’s finances in order, but the IMF will demand their pound of flesh. You can ask Argentine President Cristina Fernandez Kirchner about what nice folks the IMF are.

    America, take heed. Venezuela could be our future – minus the ultra cheap oil. And we’ll be making a phone call to the IMF president – Claudette Whateverhernameis.

    • Jerry C

      Absolutely correct. The YouTube documentary on the collapse of Argentina is an exact shadow of what is happening now in America. They even have the same people & corporations & banks doing the same evil crap over & over again.

  • Mondobeyondo

    That video of the barren and looted store shelves in Venezuela… reminds me a lot of the Black Friday frenzy in the U.S. The difference there is they went after all the necessities. We riot over $20 toasters. Just wait when Americans start fighting over a bag of pinto beans or potatoes…

  • Q

    S.AMERICA, DUMP THE DOLLAR!

  • barry oldwater

    Don’t forget that there was a bill to rewrite the bill of rights if there was like 90 percent disaster in the USA, so a total economic disaster that affected the USA would be right in line for whoever created that bill, (democrats), and since it was introduced before repubs retook the senate it may have passed.

    • df NJ

      Every now an then you read a post that is so inane it overwelms you with awe.

  • dea

    Yawn. Every 3-6 months all these bloggers say next 3-6 months.
    will go on forever

  • FreeYourMindinSC

    It is regrettable that this article only deals with two South American countries: Brazil & Venezuela (which everyone knows is a basket case), with one mention of Argentina (also a basket case).

    I live in Chile, & I’ve noticed significant differences in the strength of the economy since La Presidenta Michelle Bachelet’s left-leaning policies began to kick in. I have a significant investment in Chile which I am considering moving elsewhere because of its lack of significant growth this year. Now, of course, China (which buys a huge percentage of Chile’s copper) has fallen into recession; to say this, too, will slow Chile’s economy is probably an understatement.

    What I am seeking is reliable prognostications on the future of the Chilean economy, long the strongest in the region but now undergoing significant challenges. Michael, can you point at something; or can anyone else who sees this & knows something I don’t chime in here (I am hobbled by lack of fluency reading Spanish, although it is something I work on daily)?

  • Whisper

    I see this thread has developed into something irreverent, but to get back to the subject of Snyder’s article, I have taken the warning seriously of a global collapse rather than just the US. I check out Michaels sources before I post comments, and it is happening. However, how hard will another collapse hit us is based on opinion and speculation.
    2008 collapse did not take a toll on me and I did better than before the crash. However there are different circumstances for the banks this time around and everyone may have to pay the price. Be prepared for the worse to come, and if the worse doesn’t happen, you paid off your debts, you have become independent, you saved cash for hard times, you have plenty of food to eat, you learned a few survival skills that will come in handy, you don’t have to buy ammo for a long time, and you became self-sufficient.

  • Fabio Restrepo

    Lol, Colombia is the third largest economy in South America, not Venezuela. Really, get your facts straight if you want to build a convincing argument.

Rapture Verdict Ad1
Ready Made Resources 2015
New Self Defense Tool
High Blood Pressure?

Silver.com

Lifestraw
Economic Collapse Investing
Lifesilver
Panama Relocation Tours
The 1 Must Own Gold Stock
The Babylon Code
180x350
Marzulli Gift Offer
Coach David
Solar Wholesale
Karatbars
Another Global Crisis
ProphecyHour
JatoProducts-banner
Facebook Twitter More...