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This Region Of The World Is Being Hit By The Worst Economic Collapse It Has Ever Experienced

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South America On The Globe - Public DomainThe ninth largest economy in the entire world is currently experiencing “its longest and deepest recession in recorded history”, and in a country right next door people are being encouraged to label their trash so that the thousands upon thousands of desperately hungry people that are digging through trash bins on the streets can find discarded food more easily.  Of course the two nations that I am talking about are Brazil and Venezuela.  The Brazilian economy was once the seventh largest on the globe, but after shrinking for eight consecutive quarters it has now fallen to ninth place.  And in Venezuela the economic collapse has gotten so bad that more than 70 percent of the population lost weight last year due to a severe lack of food.  Most of us living in the northern hemisphere don’t think that anything like this could happen to us any time soon, but the truth is that trouble signs are already starting to erupt all around us.  It is just a matter of time before the things currently happening in Brazil and Venezuela start happening here, but unfortunately most people are not heeding the warnings.

Just a few years ago, the Brazilian economy was absolutely roaring and it was being hailed as a model for the rest of the world to follow.  But now Brazil’s GDP has been imploding for two years in a row, and this downturn is being described as “the worst recession in recorded history” for that South American nation…

Latin America’s largest economy Brazil has contracted by 3.6 percent in 2016, shrinking for the second year in a row; statistics agency IBGE said on Tuesday. It confirmed the country is facing its longest and deepest recession in recorded history.

Data shows gross domestic product (GDP) fell for the eighth straight quarter in the three months to December, down 0.9 percent from the previous quarter. The figure was worse than the 0.5 percent decline economists had forecast and left the country’s overall GDP down 3.6 percent for the full year following a 3.8 percent drop in 2015.

“In real terms, GDP is now nine percent below its pre-recession peak,” Neil Shearing, chief emerging markets economist at Capital Economics, told the Financial Times.

“This is comfortably the worst recession in recorded history,” he added.

It had been hoped that things in Brazil would be getting better by now, but instead they just keep getting worse.

The number of bankruptcy filings has soared to an all-time record high, and the official unemployment rate has more than doubled since the end of 2013.  The following comes from Wolf Richter

In a stunning deterioration, the unemployment rate in Brazil spiked to 12.6% in the rolling three-month period through January, a record in the new data series going back to 2012, according to Brazil’s statistical agency IBGE. Up from 11.8% in the three-month period through October. Up from an already terribly high 9.5% a year ago. And more than double the 6.2% in December 2013.

Meanwhile, hordes of hungry people are rummaging through garbage cans in Venezuela in order to find something to fill their aching stomachs.

Things have gotten so bad that one of President Maduro’s chief opponents has urged citizens to label which trash bags have food in them so that people that are searching through the garbage can find food scraps more easily

Controversial Priest and opponent to President Nicolás Maduro’s administration Father Jose Palmar posted on social media this week about labeling discarded waste so those looking through it for food can do so more easily and “with dignity.”

Palmar called on Venezuelans to celebrate Lent by identifying bags where food has been discarded for those with no where else to turn. That way, they don’t have to dig through non-edible items to find it.

And previously I have written about how people are so hungry in Venezuela that some of them are actually slaughtering and eating cats, dogs, pigeons and zoo animals.

I keep telling people that this is coming to America, but a lot of people out there don’t want to believe me.

But it is most certainly coming.

Thanks to chronically empty store shelves and severe food shortages, people in Venezuela are losing weight at an astounding pace.  In the United States it would be a good thing if much of the population lost this much weight, but in Venezuela it definitely is not

Three quarters of the country’s population lost an average of over 18 pounds over food shortages in 2016, according to a survey by Venezuelan universities and nonprofit groups. Last year, over 80 percent of foodstuffs disappeared from shelves and many had to get by with one meal a day, Foreign Policy reported.

Venezuela was once South America’s most powerful petrostate. But decades of government mismanagement sent the country into decline. Maduro’s predecessor Hugo Chavez choked the economy with heavy-handed regulations, price controls, and a campaign to nationalize major industries that chased out foreign investments.

Further north, very alarming signs are starting to pop up in Mexico.

It probably won’t happen next week or next month, but there are indications of emerging “liquidity problems” which could precipitate a major debt crisis at some point…

In Mexico foreign investors hold around $100 billion of the country’s local-currency government debt, the most for any emerging market economy. That’s almost 20 times what it was 20 years ago. They also hold billions of euros worth of corporate bonds, which are also showing signs of strain, prompting some Mexican business leaders to call for “new programs” to be implemented before the situation causes “a large-scale crisis” among Mexican companies.

The most ominous sign yet came last week when Bloomberg reported sources saying that the Bank of Mexico (or Banxico, as it is referred to) had sought a swap line from the Federal Reserve in case of “liquidity problems,” which immediately triggered furious denials from Banxico. “I can say clearly and unequivocally that we are not in the process of asking for any credit line from any authority,” said the central bank’s governor, Agustin Carstens, who has postponed by six months his departure from the bank, initially scheduled for May.

One of the biggest problems for nations such as Brazil, Venezuela and Mexico is the strength of the U.S. dollar.  During the good times they went into tremendous amounts of debt, and much of that debt was denominated in U.S. dollars.  So when the U.S. dollar becomes stronger, it takes more of their own local currencies to pay that debt back.

And if the Federal Reserve raises interest rates at their next meeting, that will strengthen the U.S. dollar even more and put even more pressure on emerging market economies.

Unfortunately, it appears that this is precisely what the Fed is going to do

Even one small interest rate increase by the Fedcould have a sweeping impact on U.S. and world economies, Komal Sri-Kumar told CNBC on Monday.

“I think they are going to hike” on March 15, Sri-Kumar said on “Squawk Box,” echoing a theory shared by many analysts. “But that is going to prompt capital outflows from the euro zone, especially with the political risk. It is going to increase the capital outflow from China, and the U.S. economy will feel the impact.”

The global economy is more interconnected than ever before, and pain that starts in one region can rapidly spread to others.

The biggest debt bubble that the world has ever seen is starting to burst, and over the coming years we are going to see financial pain on a scale that would be unimaginable to most of us at this moment.

But even now there are those that would suggest that this colossal debt bubble can continue growing much faster than global GDP indefinitely, and this sort of exceedingly reckless optimism is leading many astray.

  • SnodtBlossom

    A case of bird flu at a Tennessee farm has been identified as highly-pathogenic H7N9

    • LIZ THE SHIZ

      and now your stealing socalbeachdude’s material which proves my point that you are the same troll , between the two of you, you must be making 35 cents a day

      • socalbeachdude

        Where on earth do you come up with such utter nonsense?

        • SnodtBlossom

          it’s his inferior genetics

          • LIZ THE SHIZ

            well the meek shall inherit the Earth and the socalled snodtBlossom beach dude shall inherit each other in troll hell

          • SnodtBlossom

            du gehtst mir auf die Nerven

      • Cinderella Man

        Boom! Right on Liz..I called that three days ago. They stick up for each other all the time. Fake people troll rats

        • Stuey

          interesting…….so snotnose and drughead dude is the same person.

          • SnodtBlossom

            Dirtbag#1 and Dirtbag#4 are just making believe they have shiht for brains.

          • GetReal4U2

            you put a period (.) this time…busted…he he

    • Mark

      It carries a heavy burden to pretend like you have it all together when in fact you have tried to commit suicide.

      • Cinderella Man

        I keep telling herhimit to protest President Trump by doing the Jump for Trump challenge…

      • SnodtBlossom

        what the snowheap are you talking about

        • Mark

          It is pretty clear isn’t it? You act like you are God and that you have it all together but it is only a façade because you are actually a very miserable person who has in fact tried to commit suicide.

    • socalbeachdude

      So what?

      • Stuey

        The gig is up, quit talking to yourself.

    • mtntrek3

      The 73K or so birds culled will be a serious setback to the farmer of course. Sad, but necessary. Hopefully the farmer will recover from this. …….. BTW, God loves you Sunny. : ). Chris.

      • SnodtBlossom

        there is no god

        • mtntrek3

          Check out Romans 1:20 Sunny.

  • Tim

    One of our national sins here in the U.S. is food waste. All the food that is wasted in this country is more than enough to feed families that rely on food stamps as well as this nation’s growing homeless population. Two of the biggest offenders are the grocery and restaurant industries. Both are inherently wasteful. Thankfully, there are more salvage grocery businesses popping up that are buying “expired” grocery merchandise and selling it at deep discounts. I shop at salvage grocery stores frequently, and I have found some real gems. Admittedly, a lot of what salvage grocery stores carry is junk that no one should eat because it’s not good for your health. But I have found a lot of organic items. Most grocery items are good for quite some time after their sell-by date.

    • socalbeachdude

      So what? Why don’t you pack up all the extra food everyone throws away and ship it to Africa on a slow boat?

      • William Lutz

        It would already be rotten by the time it arrives.

        • socalbeachdude

          Only perishable items like fresh meats, poultry, and seafood and along with fruits and vegetables while canned food even well after its expiration date remains edible as do most grains such as rice.

    • William Lutz

      You know what is one rare way to avoid food waste? Use the food scraps and stale leftovers as fertilizer. Instead of using sewage sludge, which contains massive traces of heavy metals among other toxins, a lot of these farmers can use the food waste as nutrients for their crops. It would be a win-win.

      As for “salvaging” expired grocery items for starving poor people, it is usually not a good idea. Such products are very likely to spoil fast and can cause food poisoning if consumed. One method to safely take advantage of old food items is to cook with them immediately and turn them into a quick meal. For example, people can make pasta sauce with fully ripe tomatoes that are on the verge of rotting.

  • FirstGarden

    “But even now there are those that would suggest that this colossal debt bubble can continue growing much faster than global GDP indefinitely, and this sort of exceedingly reckless optimism is leading many astray.”

    And they will blame Trump.
    It’s all his fault.
    And if it wasn’t,
    it should’ve been.

    • Tim

      That’s what Brandon Smith (of Alt-Market) believes, i.e. that the next crisis will be blamed on conservatives.

      Just a week from now we have the statutory debt limit going back into effect and a likely increase in the Fed Funds Rate by the Federal Reserve. I suppose either one could be the catalyst for the next crisis.

      • John Higson

        For you, what exactly does ‘conservative’ mean? It isn’t the dictionary version, of that I’m certain. Does it mean socially or economically? The last crisis was definitely the fault of conservatives, why not this one? The Trumpet isn’t a conservative by any definition. I don’t know what he is, do you?

        • socalbeachdude

          Absolutely false and very laughably so.

        • FirstGarden

          John, for whatever it’s worth, he did appoint a highly conservative judge. And he is taking protective and common moves, which ought to come from ANY president, conservative OR liberal, who took the oath of office.

          Conservative is essentially a value system; and a preserving of “the old paths”, those that are time-tested and true, but with hopefully some relevance, or at least relatability, to today’s challenges.
          Kind regards.

      • socalbeachdude

        The federal debt ceiling is a very serious matter, but likely Congress will just vote to SUSPEND it for another 2 years or increase it to $24 trillion or something like that.

        The Federal Funds Rate isn’t even used hardly at all anymore as the banks are away with vast excess reserves and do not need to or want to borrow from each other for overnight transaction clearance which is the only thing the Federal Funds Rate even applies to.

    • socalbeachdude

      Well, the same ilk tried that with Herbert Hoover who was elected during the huge financial bubble of 1928 and they actually convinced many of that despite how preposterous those assertions were, but today we have far great and instant communication and that jive won’t play.

  • aldownunder

    The Fed is desperate to raise rates before the next recession — so they can cut them again — and will take every opportunity to do so.

    • socalbeachdude

      Nope. And the Federal Reserve only sets 3 interest rates – none of which matter a hoot in the US economy let alone the global economy – and they always key those 3 rates to the yield on the 3 month US Treasury and that has been the case for more than 100 years. All interest rates that do matter in the US economy are set off the yields (interest rates) on US Treasuries with the key rate being the yield on the 10 year US Treasury.

      • Stuey

        Then why does anyone pay any attention to what the Fed Reserve does on interest rates? All the economist and wall street types follow closely what the Fed Reserve discusses in their meetings and are hinged on every thing they do.

        • aldownunder

          Exactly
          The first thing the fed does when there is any sign of economic trouble is starts to cut rates
          I’m thinking this time they will slash into negative territory

          • socalbeachdude

            Nope, the Federal Reserve always simply follows the US Treasuries markets downwards.

        • socalbeachdude

          Anyone who does that is very stupid!

          • Spatial Memory

            ROTFLMAO

  • aldownunder

    ‘When you want to help people, you tell them the truth. When you want to help yourself, you tell them what they want to hear.’

    Thomas Sowell

    • Drake Anderson

      Nice one!

  • Anarchy

    There’s a lot of people in some of the forums I post on who think everything is just fine – you can’t tell them otherwise without cries of “doomer, conspiracist”, etc. They look around their immediate environment and cannot see anything beyond that. Facts and figures don’t phase them. I might share what’s happening in South America with them. Even I forgot about Venezuela & Brazil for a moment. I recall Youtube videos of someone dying in the streets during a food riot. Total MSM blackout on all of this, of course.

    • socalbeachdude

      Actually, the situation has been extensively covered for many years by Bloomberg, Financial Times, and Reuters.

    • Jerry C

      Normalcy Bias until Reality of Hard Knocks comes knocking.

  • nohomehere

    Just keep praying you can be accepted into the family reunion! He knows them that are his! He calls them by name!

  • RandPaul

    Sounds like it may be time to start looking for a beach house in Latin America. Always remember folks…many millionaires were made in the depression. This rule never changes…”When there is blood on the streets…it is time to buy…!”

    • socalbeachdude

      True, but the recovery is DECADES away…

  • Bill

    Still don’t believe…..try X22

  • socalbeachdude

    Brazil’s worst-ever recession deepens in late 2016

    Brazil’s worst-ever recession intensified unexpectedly in the final quarter of 2016, data showed on Tuesday, frustrating hopes for signs of a recovery and stepping up pressure on President Michel Temer and the central bank to do more to promote growth.

    Brazil’s gross domestic product contracted by 3.6 percent last year, statistics agency IBGE said, following a 3.8 percent drop in 2015. The nation’s two-year downturn is the longest and deepest on record for Latin America’s biggest nation.

    The economic contraction worsened in the fourth quarter, with a steeper-than-expected decline of 0.9 percent, following a 0.7 percent drop in the previous three months.

    http://www.reuters.com/article/us-brazil-economy-gdp-idUSKBN16E1EL

    • Cinderella Man

      Troll rat

      • socalbeachdude

        Huh? This is key information in understanding the long ongoing collapse of Latin America with epicenters in both Brazil and Venezuela. I’d suggest you read and learn about these issues.

  • socalbeachdude

    While nearly all of the press portrays this dire situation as if it were something that is new as opposed to a situation that has been worsening for the past 5 to 8 years, the facts clearly show that this mess has been ongoing for nearly a decade with nobody doing anything about the issues.

    FLASHBACK TO 2012…

    Goldman Warns of Brazil Depression After GDP Plunges Again

    Latin America’s largest economy shrank more than analysts forecast, as rising unemployment and higher inflation sapped domestic demand, pulling the nation deeper into what Goldman Sachs now calls “an outright depression.”

    Gross domestic product in Brazil contracted 1.7 percent in the three months ended in September, after a revised 2.1 percent drop the previous quarter, the national statistics institute said in Rio de Janeiro. That’s worse than all but three estimates from 44 economists surveyed by Bloomberg, whose median forecast was for a 1.2 percent decline. It also marks the first three-quarter contraction since the institute’s series began in 1996, and a seasonally adjusted annual drop of 6.7 percent.

    To slow consumer price increases, the central bank has nearly doubled the benchmark rate since 2013, to 14.25 percent. That’s prompting companies to hold off on taking new loans as the state development bank also reduces subsidized credit. Investment fell 4 percent in the third quarter — its ninth straight decline, according to the GDP report.

    http://www.bloomberg.com/news/articles/2015-12-01/brazil-gdp-falls-more-than-analysts-expected-as-demand-withers

    • Cinderella Man

      You are fake news…you wanna talk about the CIA installing malware look no further than socalbeachdude’s links

      • socalbeachdude

        What an incredibly absurd and stupid assertion.

        Bloomberg is one of the most credible financial news sites in the US and is impeccably accurate in all of its FACTUAL news coverage including the above article on Brazil written 5 years ago in 2012.

  • socalbeachdude

    FLASHBACK TO JANUARY 2016…

    Brazil Heads for Worst Recession Since 1901…

    http://www.bloomberg.com/news/articles/2016-01-04/brazil-analysts-ring-in-new-year-with-deeper-recession-forecast

  • socalbeachdude

    FLASHBACK TO JANUARY 2016…

    Venezuela is on the brink of a complete economic collapse

    The only question now is whether Venezuela’s government or economy will completely collapse first.

    The key word there is “completely.” Both are well into their death throes. Indeed, Venezuela’s ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it’s hard to see that getting any better for them any time soon — or ever. Incumbents, after all, don’t tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It’s no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt.

    That’s not an easy thing to do when you have the largest oil reserves in the world, but Venezuela has managed it. How? Well, a combination of bad luck and worse policies.

    https://www.washingtonpost.com/news/wonk/wp/2016/01/29/venezuela-is-on-the-brink-of-a-complete-collapse/

  • Cinderella Man

    It’s terrible. Coming soon worldwide. Step up stand tall keep calm and MAGA!!! Face

    • socalbeachdude

      MAGA = Make America Goldman Again!™

  • socalbeachdude

    Not very long ago, the BRIC countries were touted as the saviors of the world in terms of “growth and prosperity.” Now all of those countries – except Russia – are in deep economic doodoo including Brazil, India, and China which is the epicenter of the massive unfolding global financial crash.

  • Midwest Values

    Cannot stand Maduro who is always kow-towing to the Ayatollah’s, but I do pray for the good people in Venezuela. They were a good country before Chavez.

    • socalbeachdude

      Life is still great for many fine folks in Venezuela.

      • Spatial Memory

        Life is “still” great for many fine folks in USA as well. Bizarre to see “collapse forecasters” try and rationalize their ludicrous guesswork while markets clearly rejected such foolishness.

        Rather than eat crow they continue to double down with even more absurd hyperbole like:

        “…And previously I have written about how people are so hungry in Venezuela that some of them are actually slaughtering and eating cats, dogs, pigeons and zoo animals.

        I keep telling people that this is coming to America, but a lot of people out there don’t want to believe me.

        But it is most certainly coming.”

        • socalbeachdude

          Huh? You appear to have some screws loose in your head!

      • LIZ THE SHIZ

        laughably false, the average Venezuelan has lost 15 pounds due to food shortages and they are turning to eating their pets and zoo animals and SOON they will be coming for the “fine folks” YUUUMMM!!!!!!!!!!!!!!!!!! eat the rich

        • socalbeachdude

          They will have much greater opportunity to lose some more excess weight in the years and decades ahead.

        • SnodtBlossom

          reminds me of a song..
          MOTORHEAD LYRICS
          “Eat The Rich”

          They say music is the food of love,
          Let’s see if you are hungry enough,
          Take a bite, take another, just like a good boy would,
          Get a sweet thing on the side,
          Home cooking, homicide,
          Side order, could be your daughter,
          Fingerlicking good

          Come on baby, eat the rich,
          Put the bite on the son of a bitch,
          Don’t mess around, don’t give me no switch,
          C’mon baby eat the rich
          C’mon baby eat the rich

          Sittin’ here in a restaurant,
          Tell the waiter just what you want
          Is that the meat, you wanted to eat,
          How would you ever know?
          Hash browns an’ bacon strips,
          I love the way that you lick your lips,
          No fooling, I can see you drooling,
          Feel the hunger grow

          [Chorus]

          Eat up, eat you, eat me,
          Eat two, get one free
          Shetland pony, extra pepperoni
          Just pick up the phone,
          Eat greek, or eat chinese,
          Eat salad, or scarf up grease
          You’re on the shelf, maybe eat yourself,
          Come on, bite my bone

  • socalbeachdude

    Some folks are doing very well right now in Venezuela and life at the country club in Caracas has never been more lovely.

    EXCLUSIVE – ‘Why shouldn’t we enjoy ourselves just because the country is burning?’ Super-rich Socialists quaff champagne in Venezuela country club

    Venezuela’s super-rich are enjoying lavish parties and gourmet cuisine, while middle-class people are forced to scavenge for food as the Socialist country’s economy collapses.

    In the opulent Caracas Country Club, where membership costs an astonishing £77,000 – 458 times the average Venezuelan salary – glamorous women in cocktail dresses were seen relishing a banquet of beef and lobster, followed by a colourful selection of puddings.

    http://www.dailymail.co.uk/news/article-3640941/Super-rich-quaff-champagne-Venezuela-country-club-middle-classes-scavenge-food-rubbish-dumps-DOGS-starving.html

    • chris

      I think to call such people ‘super rich socialists’ is more than a little disingenuous, but as to be expected from the Daily Mail. These people are no more socialists than Hitler. Any other paper would just call them super rich or rich capitalists. To imply that everyone in a socialist country is actually a socialist is a joke, frankly.

      • socalbeachdude

        Chairman Mao and his charming wife Jiang Qing were devout Communists in China despite the fact they owned 12 Grand Mercedes 600s and used Rosenthal China from German and Lalique Crystal from France.

  • watchmannonthewall

    I have been keeping an eye on what goes on in Mexico as it is related to a specific prophesy of David Wilkerson. He said the default of another country (Greece?) would create worldwide turmoil, leading to a Mexican default. In turn, Mexico’s problems would impact the U.S within 2 weeks and lead to a shut-down of the banks for 6 months. A pretty specific prophesy, right?

    Is David right?

    “If a prophet or dreamer of dreams arises among you and gives a sign or wonder, and the sign or wonder comes true concerning which he spoke, saying [afterward],’Let us go after other gods (whom you have not known) and let us serve them’, you shall not listen to that prophet or dreamer of dreams; for the LORD your God is TESTING you to find out if you love the LORD your God [by obeying Him] with all your heart and with all of your soul.” (Deut. 13:1-3)

    We are wise to understand God tests us!! I tested my children, also!! The test is NOT whether the prophesy of the prophet or dreamer of dreams comes true, BUT whether he/she then entices us to ACT IN A WAY that is contrary to how God has instructed His people to act; in obedience or disobedience to His Word!! Sadly, many Christians have no idea how God expects them to act as they do not study His Word!!

    Did David W. obey God in all he did? Did he keep God’s Sabbaths? Did he keep God’s Festivals? Did he eat what God said was clean?

    I doubt it, but I am also not aware he ever ENCOURAGED people to disobey God in these things either, as do many pastors! I do know he was raised as a 7th Day Adventist and he spoke of the special anointing he felt growing up as a child as he and his family kept the Sabbath.

    I also know many of the things he said God showed him were going to occur, have, or seem to be in the process of occuring.
    This is one to file on the shelf and keep in mind as we go forward!!

    • socalbeachdude

      Greece is a tiny little country in Europe that has defaulted more than 8 times on its government debt over the past 10 years and many times during its 2000 year old history. Greece was in fact the FIRST COUNTRY to ever default on its government debt way back in the day about 2000 years ago and it is among the most profligate and financially irresponsible countries in the world today as its citizens have never learned their lessons about financial responsibility – and never will on its own.

      The best way to deal with Greece is to have it absorbed by Germany as a colony called Griechenland so it can learn to behave responsibly and achieve the first real success in its 2000+ year history.

      As to yet another (yawn) default by Greece, that is, of course, inevitable, but there won’t be any serious repercussions as a result as its debt is mostly contained.

      NEIN, NEIN, NEIN

      No debt relief for Greece, Germany’s deputy finance minister says

      http://mobile.reuters.com/article/ousivMolt/idUSKBN1650AX

      • watchmannonthewall

        All you say may be true, tough offically it has not defaulted in the last 8 years; however, I have been watching this situation since it first made the international news in November 2009 and it seems the world is being lulled to sleep by its continuing default being pushed down the road.

        Is it possible many have come to the conclusion it will never be allowed to default and so investing is such areas is “OK” and there will not be a loss?

        Also note, I did put a question mark after the mention of the nation. It doesn’t necessarily have to be Greece. It just seems at this time Greece is the most likely national default that might break apart the EU and lead to an international crisis.

        • socalbeachdude

          France exiting the euro would be the largest sovereign default in history with serious contagion effects

          A few days ago, David Rachline of the far-right National Front party in France said that “the debt of France is about 2 trillion euros ($2.1 trillion), about 1.7 (trillion euros) are issued under French law, which means that it can be re-denominated.”

          The economic program of the National Front specifically calls for the exit of the euro and the creation of a new currency, the French franc, which would be “closely” linked to the euro while allowing the government to undertake “competitive devaluations” making the transition in an “orderly way”.

          There is only one problem. It does not work. There is no “orderly exit” from the euro. It is an oxymoron.

          This would be the largest credit event in history and would create a massive contagion effect throughout the euro zone. The euro, obviously, would suffer from the break-up risk, so the fallacy of the “closely linked” second currency is simply a joke. Both would collapse in tandem.

          http://www.cnbc.com/2017/02/22/france-exiting-the-euro-would-be-the-largest-default-in-history-with-serious-contagion-effects.html

          • watchmannonthewall

            Thanks for the information. Enjoy your comments as you are very well informed and knowledgeable. I have been very interested in what is going on in all of the large Euro nations, including France. I just haven’t done much research about such things so other than reading something here and there, my awareness is only that there are a lot of possibilities that could lead to a complete worldwide financial breakdown. I think the key is to know it is coming and stay prepared. Trying to prepare once things fall apart is going to be nearly or completely impossible.

        • Rick

          Saying Greece has not officially defaulted is like saying Hillary and Obama have not officially committed felonies.

          • Zlatko Milanovic

            …or like saying Rick knows what he’s talking about…

          • watchmannonthewall

            It appears to me they have managed the contagion by changing the rules in the middle of the game to keep it going for as long as they can. No doubt they will continue to do so, probably in the hope they will suddenly come up with a solution they haven’t thought of yet. I believe for them, “hope” is a definite strategy!!

      • Joseph A. McAulay

        Interesting perspective. If you do a deeper study; I’m confident that you’ll find the reasons for their defaults are due not so much to irresponsibility but rather to their contempt for the ponzie scheme that is “our monitory system”. If one thinks about it from this perspective, one can very easily see, that they are pioneers in the “scoffing at” of this outdated Babalonian monies exchange…..good for them I say.

        • socalbeachdude

          Laughably false. Watch the film “Zorba The Greek” and you will understand the issue of financial responsibility in Greece.

      • chris

        I seem to recall people saying that Goldman Sachs managed to bend their book keeping for them in order to borrow massively. So not entirely their fault then. Plus the EU turned a blind eye as it was keen to get them in….

    • Mike

      Why do you ask if Dave W. (or anyone for that matter) obeys Jewish law? We are under the Law of Christ in the church age not the law of Moses. Gal. 6:2
      And, if a “prophet” prophesies a future event that he says comes from the Lord and it doesn’t come to pass, he is a false prophet. Being a false prophet is being “disobedient” (among other things).

      • JC Teecher

        Prophetic events that are not in the word, or don’t align with the prophecies of the Word, are just…hunches or opinions.

        When a person clarifies that it is just an opinion or hunch, and it does not come about, then that person isn’t necessarily a false prophet

      • watchmannonthewall

        The devil wants God’s people to think it is “Jewish” Law but it was given by God, actually the pre-incarnate Jesus, to Moses at Sinai for all of Israel, the nation Jesus is coming back to rule and reign over.

        Many Christians say they are Israel, and they are right, so they should honestly think about acting the way God said. They would do this by walking out their lives in a “holy” manner, living far differently than the manner of the “nations”.

        Paul, 1 Cor. 7:19- “But what matters is keeping the Law of God!” Solomon: “The conclusion, when all has been said and done is ; Fear God and keep His commandments, because this applies to EVERY person. For God will bring EVERY act to judgment, everything hidden whether good or bad.” (Ecc. 12:13-14)

        Today’s Church adds, “Except He won’t judge the acts of those who are in Christ.” He will!!

        Neither scripture nor Paul agree with that statement as Paul essentially quotes Solomon in 2 Cor. 5:10; “For we must ALL appear before the judgement seat of Christ that each one may be recompensed for [ALL] HIS DEEDS in the body, according to what he has done, WHETHER GOOD OR BAD.” There is no deed that is not either good or bad! Paul and Solomon agree, point by point!

        There are no contradictions in scripture. Just in man’s doctrines! It is an extremely rare event in scripture when the majority was right!! (Heb. 11)

      • watchmannonthewall

        BTW- There are a lot of prophesies in scripture that still haven’t come to pass. Using the test of whether it comes to pass to determine whether a prophet is of God or not might require one to live about 3500 years to finally determine of one passes that test. The true test is the one of obedience!! The outcome of that test is immediately apparent if one knows God’s Word, all of it!!

      • Jerry C

        YHVH’s laws are good for us; including His kosher laws on what we should & should not be eating. Do you doubt this?

  • mtntrek3

    …… My hope is in Christ. I hope many if not all other’s is also. ……. .

    • SnodtBlossom

      there is no god

      • mtntrek3

        : ). All that is didn’t just create itself. ……

      • mtntrek3

        Sie sind Deutscher? Sie sprechen es oft.

        • SnodtBlossom

          “liz” understands what I type.. I don’t know German. I only google it.

      • mtntrek3

        Christus ist der Weg. Pflege Sonnig. : ). Take care Sunny. Chris.

      • FirstGarden

        King James Bible
        The fool hath said in his heart, There is no God. (Psalm 14:1)

        New American Standard Bible
        The fool has said in his heart, “There is no God.” They are corrupt, they have committed abominable deeds..

        NET Bible
        Fools say to themselves, “There is no God.” They sin and commit evil deeds..

        Holman Christian Standard Bible
        The fool says in his heart, “God does not exist.” They are corrupt; they do vile deeds..

        New Living Translation
        Only fools say in their hearts, “There is no God.” They are corrupt, and their actions are evil..

        International Standard Version
        Fools say to themselves, “There is no God.” They are corrupt and commit evil deeds..

        English Standard Version
        The fool says in his heart, “There is no God.” They are corrupt, they do abominable deeds..

        New Heart English Bible
        The fool has said in his heart, “There is no God.” They are corrupt. They have done abominable works.

        • SnodtBlossom

          THE BEATLES LYRICS
          “Lucy In The Sky With Diamonds”

          Picture yourself in a boat on a river
          With tangerine trees and marmalade skies
          Somebody calls you, you answer quite slowly
          A girl with kaleidoscope eyes

          Cellophane flowers of yellow and green
          Towering over your head
          Look for the girl with the sun in her eyes
          And she’s gone

          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Aaaaahhhhh…

          Follow her down to a bridge by a fountain
          Where rocking horse people eat marshmallow pies
          Everyone smiles as you drift past the flowers
          That grow so incredibly high

          Newspaper taxis appear on the shore
          Waiting to take you away
          Climb in the back with your head in the clouds
          And you’re gone

          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Aaaaahhhhh…

          Picture yourself on a train in a station
          With Plasticine porters with looking-glass ties
          Suddenly someone is there at the turnstile
          The girl with kaleidoscope eyes

          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Aaaaahhhhh…
          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Aaaaahhhhh…
          Lucy in the sky with diamonds
          Lucy in the sky with diamonds
          Lucy in the sky with diamonds [fade out]

          • LIZ THE SHIZ

            you are the Yoko Ono of this site , annoying and dodged a bullet by 3 feet

          • Ricardo

            Because I have snotblossom comments blocked I never see their reply but I do hear a muffled bjhkcycrefbjylyi;hkgdfd.

          • FirstGarden

            Don’t you have some holes to fix where the rain gets in?

  • JC Teecher

    “In a stunning deterioration, the unemployment rate in Brazil spiked to 12.6% in the rolling three-month period through January, a record in the new data series going back to 2012, according to Brazil’s statistical agency IBGE. Up from 11.8% in the three-month period through October. Up from an already terribly high 9.5% a year ago. And more than double the 6.2% in December 2013.”

    If Brazil uses the same parameters for it’s Unemployment rates as the USA, then they are probably more like double these rates.

    The true USSAG rates are more like triple the gov figured and adjusted rate, that is used to placate the sheeple.

    • Flávio

      HAHAHAHA, our unemployment rate is also subject to harsh criticism.

      • JC Teecher

        Read with understanding..ussag is United Socialist States of Abortion and Gaymorrah.
        The proof is, and has been declared by many unbiased economists, etc.
        Thanks.

    • DigitalThumb

      In the US 10 million able men are not counted as unemployed because they gave up looking for work, the real US unemployment rate is north of 23%. See John Williams Shadow Stats.

  • JC Teecher

    How do folks become less affected by the coming explosion of the debt bubble?

    Choose to make a change in lifestyle, but; more importantly choose to become debt free. Free yourselves from the burden of the debt cycle.
    When one realizes how free they become, and how much easier life becomes by not choosing to live in the cesspool of debt, they then become better at making the right choices for buying things out of necessity, rather than out of want.

    When we had our combination of salaries into 6 figures annually, we also had debt, and never got the full benefits of having a healthy/wealthy income. Once we got out of debt, then we actually could buy those whole Ribeye loins, and cut out 2 inch thick steaks for the grill…without guilt.
    We could go on weekend fishing trips, and bring home 20 lbs of mtn. Trout fillets for the freezer, without guilt or regrets.

    It is all about choices and where people choose to be.

    If I were Venezuelan or Brazilian, and my area was a collapse, and life was a chore, I would relocate, and choose “not” to live in poverty.
    Most people just don’t want to make that commitment nor do they have the will to do so, but in almost all cases…it is a choice, rather than a dead end.

    • mtntrek3

      Agree mostly, but in the case of the impoverished….. they may not be able to relocate. May not be able to afford it. Just an observation.

      • Zlatko Milanovic

        Ya, I was gonna say the same thing.

      • JC Teecher

        Yes there are many that can’t afford to just up and move away from famine.

        But, to stay in a situation where people are dependent upon a non functioning gov, is not conducive to long living.

        I wonder how hard it would be to relocate to the country next door?

        • mtntrek3

          Then again…. look at the exodus ongoing in Syria. Smh. They are leaving often times with just the clothes on their backs and their two feet to carry them.

  • jox

    Answer: Olympics + World Cup of Football

    • Flávio

      Br?

  • Tim Osborne

    The fact that you don’t understand that Brazil and Venezuela recently elected Communist leaders tells me you have more education necessary! The fact that the US did NOT elect another Communist means we are spared the fate of these 2 countries for at least another 4-8 years!!

    • Zlatko Milanovic

      The fact that you think the U.S. has ever elected a communist tells me you don’t have enough education…

      • Flávio

        GGnore them. They are still living in Cold War. Brazil’s problem is public debt and poor administrators.

  • Rick

    Michael, that would never happen here in the US. We create and process food every day in factories. It’s called artificial GMO foods. If you were President Trump, you’d call it fake food. But it’s true, we can never run out here as long as we have the chemicals that are softly killing our population. In fact the EPA and Dept of Ag. just approved GMO potatoes. So get ready to be poisoned with McDonalds French Fries!

    • ALWAYSTOMORROW

      GMO foods will make you strong and healthy. Long live GMO’s.

      • Rick

        I will guess you are in one of 4 categories.
        1. A very funny person.
        2. A GMO farmer.
        3. A Monsanto employee.
        4. Just plain uninformed.

        You tell me. Or maybe is #5, and you can fill that one in.

        • Mr.Cipher

          I’m going with #4

          • Rick

            I’m with you on that one. Although I have run into people employed by the GMO companies who spout just what “Always…” did, but when it comes down to it, won’t touch the products.

          • socalbeachdude

            There will always be crazy people around.

          • ALWAYSTOMORROW

            Shut up and eat your corn.

        • aldownunder

          I think he was trying to be #1

        • socalbeachdude

          It is you who are totally uninformed.

        • ALWAYSTOMORROW

          1 & 3.

    • socalbeachdude

      False. There is nothing in any way “fake” about crops grown from GM seeds at all, and it is as real, excellent, and nutritious as any other food. The only difference is that it is resistant to certain diseases and bugs.

      • Dean

        What about Monsanto GURT(Terminator Seeds)? At least with natural non GMO seeds the seeds from the plants can be reused over and over again instead of having to go buy new seed because the seeds from the GMO plants are sterile.

        • socalbeachdude

          All farmers BUY NEW SEED each year to plant their crops. There is no such thing as reusing seed.

          • Dean

            Not in many developing countries.

          • Jill

            That’s a bit of a sweeping generalization. I grow our family’s summer and fall produce using seeds saved from prior harvests. It isn’t rocket science

  • jakartaman

    Again, the world is close to a world wide economic collapse. Anyone that denies this is a fool. This fact is not an accident, it has and is a designed work in progress. The globalist elite know that the masses will not be needed anymore and are only consuming resources. They want to eradicate 75-90% of the worlds population. They have enlisted the muslim world to be their soldiers. The invasion of muslims into western countries is a strategy that will be highly successful in fermenting chaos and death.
    In addition to economic misery the folks will be killing each other for the limited necessities for life. Even the USA is a divided country the globalist/socialist left versus the nationalist/capitalist right. The only questions that need to be discussed are: the when?, Will it continue to be slow death by a thousand cuts or some event that will cause a quick boom? My guess and that s all it is, that total collapse will happen before 2020 and a military action will be the trip wire.

    • socalbeachdude

      Laughably false.

      • jakartaman

        Laughably stupid

  • chilller

    The BRICS nations have all been targeted by the US, Brazil being the “B” in BRICS.

    • socalbeachdude

      How so? They have all acted in a grossly corrupt and profligate manner and certainly have not been “targeted” in any manner whatsoever by the US.

      • Flávio

        Our problem is public debt. Interest and amortizations consume more than 40% of the union’s budget. And we have the highest real interest rate on the planet, despite being the nation with the richest subsoil in the world.

        • socalbeachdude

          You are describing the situation in BRAZIL, I assume based on your comment. High interest rates help suppress inflation.

          • Flávio

            That’s what the economics textbooks say. Our inflation acceleration is not the result of a situation of excess demand. Our inflation responds strongly to variation in nominal exchange rate.

  • chris

    You need to do a few more postings socalbitchdoodoo, you are not reaching your quota! Huh?

  • nohomehere

    If going over debate points of the world progress is somehow edifying micheal gets er done,
    Reasoning about how wrong and evil the world is, seems to me , redundant!
    After the Romans hung The messiah on the cross, do you think they (Romans) will do better to regular folks. But i’m being a simplistic simpleton

    Psalm 37: 7
    Rest in the LORD and wait patiently for Him; Do not fret because of him who prospers in his way, Because of the man who carries out wicked schemes.
    In Jerusalem in Jesus’ day and onward, there were many who got a bug under them about the corruption and illegalities being perputrated against God’s chosen people and many rose up to fight the Romans , who quickly met their fate , like barrabas almost did.
    Here I found a divine example : Jesus of Nazareth and Jesus Barrabas were given as a choice to let go free during the passion of Christ! notice the one Jesus was against lifting the sword in defense of his cause as ” if this world were my kingdom then my servants would fight” this was the Messiah call to peace ! Now on the other hand the other Jesus, there was Jesus Barrabas, Barrabas is interpreted as the son of the father. so we have two coincidently call son of God , the one quite and pacifist and the other a known fighter for the cause one to incite the majority Mark and Luke further refer to Barabbas as one involved in a stasis, a riot Robert Eisenman states that John 18:40 refers to Barabbas as a lēstēs (“bandit”), “the word (JOSEPHUS) always employs when talking about Revolutionaries”.
    I’m sure this ame situation applies to todays crowd of angry citizens, feelings of betrayal and the need for justice ! Who would you choose ?

    Using your carnal minds it would perscribe the release of barrabas , a man up on current world events and corruptions spread in gov. of the Roman Empire’ able to spot the finest points of things that don,t follow Gods plan for Isreal and his people! But, you would be wrong!
    The right choice would be the man who did not argue but was quite in his trust for God’s final will be done, not his! What an example of a meek humble spirit , But yet he knew all of this was God’ will and I say is God’ will and nothing could or can change it !

    Which Jesus do you choose?

  • Christoph Weise

    Some countries have clearly reached their individual debt ceiling: Venezuela, Greece and Ukraine are examples. They do not really impact the global economy very much since they are small. But seven out of 10 most indebted countries in the world are members of the EU and use the EURO. Some of them have a size that matters, like Italy and Spain. Brazil and India are examples outside of Europe. If one of these countries fails the system may unwind. Leaving the eurozone alone could bankrupt a country like Italy because of the sudden increase of interest. France, Italy and the Netherlands are candidates for an exit. The central banks have pretty much ruined the ship on which we are sailing. Get your life vest.

    • socalbeachdude

      None of the debt of any of those countries is in any way the fault of central banks, but rather the fault of profligate financially irresponsible governments in those countries spending far beyond their revenues.

      • Christoph Weise

        Disagree. Central banks have ruined the global ecomomy by an endless manipulation of markets leading to a lethal misallocation of resources.

        • socalbeachdude

          Central banks have certainly not “ruined the global economy” and do not “manipulate markets” at all.

      • Spatial Memory

        Laughably false. 🙂

      • Ricardo

        fail

  • Liberty First

    I do not know what kind of zoo animals I will be most interested in eating…always enjoyed the reptile house and fried cobra bits might be good…seriously, Michael is right once again though. Patience is required. See the dynamic. That is what counts.

    • Spatial Memory

      Crow has been on the menu for the last 10,000+ DJIA points.

  • J.j. Cintia

    Why don’t we help them out by ending all foreign aid? I imagine these tinpot dictators and piss poor policies wouldn’t even exist for long if not for foreign aid dollars propping up these pinheads.

  • JC Teecher

    What is happening in Venezuela and Brazil is nothing compared to what is happening in utah in the ussag.

    Every word spoken on a phone, or near a “smart” device, and every word typed/texted, is copied and held for inspection by members of the ……

    ….the Beast System in Utah. The data collection is set for the NWO and it’s true leader, aka Antichrist, aka Satan, bounced out of his estate in Heaven..(.currently).

    Welcome to the Jungle. Welcome to the last of man’s days in the flesh.
    The stage is set, and the players are warming up.

    Hallelujah!

    ht tps://nsa.gov1.info/utah-data-center/

    • Dean

      The link doesn’t work! Well at least for me it doesn’t.

      • JC Teecher

        copy and eliminate the space in http, after entering into the search bar window.
        a little trick to keep the link from going into moderation. ツ
        Also, when the Home Page is pulled up…click on the Utah Data Center.

        • Dean

          Thanks!

          • JC Teecher

            your welcome

  • Jayme Martins de Sequeira

    Hey guys, I’m a 33 year old Brazilian, writing from Rio de Janeiro, right in the middle of the economic hurricane caos. Half of my friends my age have abandoned the boat ( they emigrated to Europe, Canada, etc.), the other half are either unemployed or in a bad shape economically.
    Inflation last year was 6.3 but in 2015 it was more than 10%
    Imagine that your money looses more than 17% of its value in 2 years.
    Although we are in a really bad shape, at least we have the highest real interest rate in the world so it is even possible to earn some money from treasury bonds.
    I see many people saying America will go the same way as Brazil or Venezuela. I think that this is impossible. If you ask any regular Brazilian what is his dream he will promptly answer you: My dream is to get rich and do nothing for the rest of my life.
    I doubt that if you asked this same question in the US, people would respond the same way.
    Every middle class Brazilian’s dream is to pass a test and became a government employee so they can get a big wage and lay low.

    • Jerry C

      America started out as socialist in the colonies until the young guys were tired of working to take care of the older men’s wives & kids. It was believed they wouldn’t last the next winter, so they changed to a capitalist system where each worked for himself. Self-sufficiency and keeping the fruits of your labor helped to make America great. As soon as government gets involved and starts taking from those who work & giving it to those who don’t (for votes), everything gets worse & worse.

      Good luck to you my friend.

    • juanisaac

      Trump’s wall is being built especially to keep you and your friends out. Just come on vacation and overstay your visa like 60% of all illegals.

  • Big Red

    So easy to grow your own food in a place like Brazil, surprising anyone is hungry. Teach a man how to garden and he can support himself for life.

    • Jill

      Those living in densely populated urban centers lack the acreage for a garden that could supply for their families

      • Big Red

        Why anyone chooses to live in the inner city anywhere is beyond me.

        • Jill

          I have six acres and even that feels too crowded.

          • Big Red

            6 acres is perfect for a great garden, chicken coop, and space for some sheep, goats, or pigs.

  • DigitalThumb

    Just look at the amount of retailers going bust or closing stores in the US, the process has already begun. Party like it’s 2008…..again!!

  • kfilly

    My take of this is that TPTB are driving people from South America to America. They have to get more socialists up here to vote for gifts from the Treasury.

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