European Implosion Sends Panic Through Global Markets As George Soros Warns ‘We May Be Heading For Another Major Financial Crisis’

I told you to keep your eyes on Europe.  On Tuesday, widespread panic shot through European financial markets and this deeply affected U.S. markets as well.  The Dow Jones industrial average fell 391 points, and at this point the Dow and the S&P 500 have been down for three trading sessions in a row.  But the big news is what is happening over in Europe.  Tuesday’s crash represented the largest one day move for 2 year Italian bonds ever, and Italian bank stocks are now down a whopping 24 percent from their April highs.  Overall, European banks have fallen a total of 11 percent over the last four days, and it isn’t just banks in troubled countries such as Italy and Spain that are hurting.  The biggest bank in Europe, Deutsche Bank, just keeps on tumbling and is now just barely above all-time lows.  A few days ago when I wrote that the next global economic crisis “could be just around the corner”, there were some people that criticized me for making such a statement.  Well, as you will see below, now this fact has become so obvious that even George Soros is saying it. (Read More...)

Harvard Professor Warns That The Current Ebola Outbreak In Africa Could Spread To The United States

Could it be possible that we are on the verge of a major Ebola pandemic?  In 2014, the worst Ebola outbreak in history resulted in 28,637 cases and more than 11,000 deaths.  But we were very fortunate.  Even though the virus started to spread across national lines, health authorities were able to quickly identify new cases and isolate those that were infected.  But just because that outbreak ultimately fizzled out does not mean that we can let our guard down.  In 2014, a single Ebola case absolutely overwhelmed an entire hospital here in the United States, and a full blown global Ebola outbreak would definitely have the potential to kill millions of people. (Read More...)

More Evidence That Lawyers Are Ruining America – You Won’t Believe What McDonald’s Is Being Sued For Now…

One of the fastest ways to ruin anything is to get lawyers involved, and lawyers are running amok in America today.  Several decades ago, Supreme Court Chief Justice Warren Burger warned that our nation would become “a society overrun by hordes of lawyers, hungry as locusts”, and that is precisely what has happened.  There are more than 1.3 million lawyers in the United States today, and it is estimated that those lawyers produce more than 40 million lawsuits each year.  Many of those lawsuits are completely frivolous, but frivolous lawsuits are often settled because it can be much cheaper to settle them than to defend against them in court.  So it is essentially a form of “legal extortion” that has gotten wildly out of control. (Read More...)

12 Indications That The Next Major Global Economic Crisis Could Be Just Around The Corner

There have not been so many trouble signs for the global economy in a very long time.  Analysts are sounding the alarm about junk bond defaults, the smart money is getting out of stocks at an astounding rate, mortgage rates are absolutely skyrocketing, and Europe is already facing a full blown financial meltdown.  Of course expectations that another global economic crisis will happen among the general population are probably at an all-time low right now, but the reality of the matter is that we are probably closer to a new one erupting than at any point since the last one in 2008.  Since the last financial crisis our long-term debt problems have just continued to grow, and there are many that believe that the next crisis will actually be far worse than what we experienced ten years ago. (Read More...)

Why America Is Heading Straight Toward The Worst Debt Crisis In History

Today, America is nearly 70 trillion dollars in debt, and that debt is shooting higher at an exponential rate.  Usually most of the focus in on the national debt, which is now 21 trillion dollars and rising, but when you total all forms of debt in our society together it comes to a grand total just short of 70 trillion dollars.  Many people seem to believe that the debt imbalances that existed prior to the great financial crisis of 2008 have been solved, but that is not the case at all.  We are living in the terminal phase of the greatest debt bubble in history, and with each passing day that mountain of debt just keeps on getting bigger and bigger.  It simply is not mathematically possible for debt to keep on growing at a pace that is many times greater than GDP growth, and at some point this absurd bubble will come to an abrupt end.  So those that are forecasting many years of prosperity to come are simply being delusional.  Our current standard of living is very heavily fueled by debt, and at some point we are going to hit a wall. (Read More...)

Government Crackdowns In China And India Threaten To Absolutely Crush The Cryptocurrency Bubble

Taxation and regulation are weapons, and governments often use these weapons to target things that they do not like.  Cryptocurrencies such as Bitcoin, Ethereum, Ripple and Litecoin threaten to shatter the existing paradigm of financial control that the elite have carefully crafted, and that is making government officials all over the planet very nervous.  So the latest rumblings about “government crackdowns” on cryptocurrencies in China and India shouldn’t come as any sort of a surprise.  Those two governments hate anything that even smells like freedom, and so it was only a matter of time before they pulled the trigger.  And the bigger the cryptocurrency bubble becomes, the more national governments around the world are likely to take action to “get it under control”. (Read More...)

Federal Reserve: More Than 4 Out Of 10 Americans Do Not Even Have Enough Money To Cover An Unexpected $400 Expense

The U.S. economy is not doing nearly as well as the mainstream media would have you believe.  A few days ago I wrote about a new study that discovered that nearly 51 million U.S. households “can’t afford basics like rent and food”, and just yesterday I discussed the fact that we are on pace for the worst year for retail store closings ever.  Now we have just gotten new numbers from the Federal Reserve which are absolutely staggering.  According to the Fed’s latest study, more than 4 out of every 10 Americans do not even have enough money to cover an unexpected $400 expense without borrowing the funds or selling something.  In essence, nearly half the country has no significant financial cushion whatsoever.  So what are all of those people going to do when the next economic crisis hits? (Read More...)

77 Million Square Feet Of Retail Space And Counting – America’s Retail Apocalypse Is Spiraling Out Of Control In 2018

In 2017 we absolutely shattered the all-time record for retail store closings in a single year, and this year it looks like we are going to shatter the record once again.  In fact, there are some that are projecting that up to 9,000 retail stores could close by the time that we get to the end of this calendar year.  Already, the amount of retail space that has shut down is simply jaw-dropping.  If you total up all of the retail store closings that have been announced so far in 2018, it accounts for 77 million square feet of retail space.  Let that number sink in for a bit.  Many shopping centers and strip malls around the country already have a post-apocalyptic feel to them, and more “space available” signs are going up with each passing day.  And in case you are tempted to think that I am making this figure up, here it is straight from Bloomberg… (Read More...)

+ More