Are They About To Confiscate Money From Bank Accounts In Greece Just Like They Did In Cyprus?

Euros - Public DomainDo you remember what happened when Cyprus decided to defy the EU?  In the end, the entire banking system of the nation collapsed and money was confiscated from private bank accounts.  Well, the nation of Greece is now approaching a similar endgame.  At this point, the Greek government has not received any money from the EU or the IMF since August 2014.  As you can imagine, that means that Greek government accounts are just about bone dry.  The new Greek government continues to insist that it will never “violate its anti-austerity mandate”, but the screws are tightening.  Right now the unemployment rate in Greece is over 25 percent and the banking system is on the verge of collapse.  It isn’t going to take much to set off a panic, and when it does happen there are already rumors that the EU plans to confiscate money from private bank accounts just like they did in Cyprus. (Read More...)

The Debt To GDP Ratio For The Entire World: 286 Percent

Global Debt - Public DomainDid you know that there is more than $28,000 of debt for every man, woman and child on the entire planet?  And since close to 3 billion of those people survive on less than 2 dollars a day, your share of that debt is going to be much larger than that.  If we took everything that the global economy produced this year and everything that the global economy produced next year and used it to pay all of this debt, it still would not be enough.  According to a recent report put out by the McKinsey Global Institute entitled “Debt and (not much) deleveraging“, the total amount of debt on our planet has grown from 142 trillion dollars at the end of 2007 to 199 trillion dollars today.  This is the largest mountain of debt in the history of the world, and those numbers mean that we are in substantially worse condition than we were just prior to the last financial crisis. (Read More...)

40 Volcanoes Are Erupting Right Now, And 34 Of Them Are Along The Ring Of Fire

Volcano Erupting - Public DomainYou may not have noticed, but our planet is becoming increasingly unstable.  According to Volcano Discovery, 40 volcanoes around the globe are erupting right now, and only 6 of them are not along the Ring of Fire.  If that sounds like a very high number to you, that is because it is a very high number.  As I have written about previously, there were a total of 3,542 volcanic eruptions during the entire 20th century.  When you divide that number by 100, that gives you an average of about 35 volcanic eruptions per year.  So the number of volcanoes that are erupting right now is well above the 20th century’s average for an entire calendar year.  And of course we are witnessing a tremendous amount of earthquake activity as well.  Nepal was just hit by the worst earthquake that it had seen in 80 years, and scientists are telling us that the Himalayas actually dropped by an astounding 3 feet as a result of that one earthquake.  How much more does our planet have to shake before people start paying attention? (Read More...)

Why Are Exchange-Traded Funds Preparing For A ‘Liquidity Crisis’ And A ‘Market Meltdown’?

Financial Crisis 2015 - Public DomainSome really weird things are happening in the financial world right now.  If you go back to 2008, there was lots of turmoil bubbling just underneath the surface during the months leading up to the great stock market crash in the second half of that year.  When Lehman Brothers finally did collapse, it was a total shock to most of the planet, but we later learned that their problems had been growing for a long time.  I believe that we are in a similar period right now, and the second half of this year promises to be quite chaotic.  Apparently, those that run some of the largest exchange-traded funds in the entire world agree with me, because as you will see below they are quietly preparing for a “liquidity crisis” and a “market meltdown”.  About a month ago, I warned of an emerging “liquidity squeeze“, and now analysts all over the financial industry are talking about it.  Could it be possible that the next great financial crisis is right around the corner? (Read More...)

The Greatest Water Crisis In The History Of The United States

US Drought Monitor May 5 2015What are we going to do once all the water is gone?  Thanks to the worst drought in more than 1,000 years, the western third of the country is facing the greatest water crisis that the United States has ever seen.  Lake Mead is now the lowest that it has ever been since the Hoover Dam was finished in the 1930s, mandatory water restrictions have already been implemented in the state of California, and there are already widespread reports of people stealing water in some of the worst hit areas.  But this is just the beginning.  Right now, in a desperate attempt to maintain somewhat “normal” levels of activity, water is being pumped out of the ground in the western half of the nation at an absolutely staggering pace.  Once that irreplaceable groundwater is gone, that is when the real crisis will begin.  If this multi-year drought stretches on and becomes the “megadrought” that a lot of scientists are now warning about, life as we know it in much of the country is going to be fundamentally transformed and millions of Americans may be forced to find somewhere else to live. (Read More...)

In September, The UN Launches A Major Sustainable Development Agenda For The Entire Planet

United Nations General Assembly.The UN plans to launch a brand new plan for managing the entire globe at the Sustainable Development Summit that it will be hosting from September 25th to September 27th.  Some of the biggest names on the planet, including Pope Francis, will be speaking at this summit.  This new sustainable agenda focuses on climate change of course, but it also specifically addresses topics such as economics, agriculture, education and gender equality.  For those wishing to expand the scope of “global governance”, sustainable development is the perfect umbrella because just about all human activity affects the environment in some way.  The phrase “for the good of the planet” can be used as an excuse to micromanage virtually every aspect of our lives.  So for those that are concerned about the growing power of the United Nations, this summit in September is something to keep an eye on.  Never before have I seen such an effort to promote a UN summit on the environment, and this new sustainable development agenda is literally a framework for managing the entire globe. (Read More...)

The Average Age Of A Minimum Wage Worker In America Is 36

Dollar Stacks - Public DomainDid you know that 89 percent of all minimum wage workers in the United States are not teens?  At this point, the average age of a minimum wage worker in this country is 36, and 56 percent of them are women.  Millions upon millions of Americans are working as hard as they can (often that means two or three jobs), and yet despite all of their hard work they still find themselves mired in poverty.  One of the big reasons for this is that we have created two classes of workers in the United States.  “Full-time workers” are entitled to an array of benefits and protections by law that “part-time workers” do not get.  And thanks to perverse incentives contained in Obamacare and other ridiculous laws, we have motivated employers to move as many workers from the “full-time” category to the “part-time” category as possible.  It may be hard to believe, but right now only 44 percent of all U.S. adults are employed for 30 or more hours each week.  But to get any kind of a job at all is a real challenge in many parts of the country today.  As you read this article, there are more than 100 million working age Americans that are not employed in any capacity.  And according to John Williams of shadowstats.com, if the federal government was actually using honest numbers the unemployment rate would be sitting at 23 percent.  That is not an “employment recovery” – that is a national crisis. (Read More...)

The 90,000 Square Foot, 100 Million Dollar Home That Is A Metaphor For America

Versailles House - Public DomainJust like “America’s time-share king”, America just keeps on making the same mistakes over and over again.  Prior to the financial collapse of 2008, time-share mogul David Siegel and his wife Jackie began construction on their “dream home” near Disney World in Orlando, Florida.  This dream home would be approximately 90,000 square feet in size, would be worth $100 million when completed, and would be named “Versailles” after the French palace that inspired it.  In fact, you may remember David and Jackie from an excellent 2012 documentary entitled “The Queen of Versailles”.  That film documented how the Siegels almost lost everything after the financial collapse of 2008 devastated the U.S. economy because they were overleveraged and drowning in debt.  But since that time, David’s time-share company has bounced back, and the Siegels now plan to finally finish construction on their dream home and make it bigger and better than ever before.  But before you pass judgment on the Siegels, it is important to keep in mind that we are behaving exactly the same way as a nation.  Instead of addressing our fundamental problems after the last financial crisis, we have just continued to make the exact same mistakes that we made before.  And ultimately, things are going to end very, very badly for us. (Read More...)

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