Goodbye American Dream: The Average U.S. Household Is $137,063 In Debt, And 38.4% Of Millennials Live With Their Parents

Once upon a time the United States had the largest and most vibrant middle class in the history of the world, but now the middle class is steadily being eroded.  The middle class became a minority of the population for the first time ever in 2015, and just recently I wrote about a new survey that showed that 78 percent of all full-time workers in the United States live paycheck to paycheck at least part of the time.  But most people still want to live the American Dream, and so they are going into tremendous amounts of debt in a desperate attempt to live that kind of a lifestyle. (Read More...)

Bank Of America Analyst: A ‘Flash Crash’ In Early 2018 ‘Seems Quite Likely’

Is the stock market bubble about to burst?  I know that I have been touching on this theme over and over and over again in recent weeks, but I can’t help it.  Red flags are popping up all over the place, and the last time so many respected experts were warning about an imminent stock market crash was just before the last major financial crisis.  Of course nobody can guarantee that global central banks won’t find a way to prolong this bubble just a little bit longer, but at this point they are all removing the artificial support from the markets in coordinated fashion.  Without that artificial support, it is inevitable that financial markets will experience a correction, and the only real question is what the exact timing will be. (Read More...)

‘The Currency Of The Apocalypse’? Doomsday Preppers Flock To Bitcoin As It Surges Past $8000

Once upon a time preppers would hoard gold and silver in anticipation of the meltdown of society, but now Bitcoin is becoming the alternative currency of choice for many in the prepping community.  On Monday, Bitcoin hit an all-time record high as it surged past $8,200, and it has now gone up nearly 50 percent in just the last eight days.  As I have admitted previously, one of my great regrets is not investing in Bitcoin when it first started, because we have never seen a meteoric rise quite like this.  Bitcoin hit the $5,000 mark for the very first time just over a month ago, it is up more than 700 percent so far this year, and it is up almost 40,000 percent over the past five years.  At this point Bitcoin has a market cap of over 130 billion dollars, and many believe that this is just the beginning. (Read More...)

The Yield Curve Has Not Been This Flat In 10 Years, And Many Believe This Is A Sign That A Recession Is Imminent

Whenever we see an inverted yield curve, a recession almost always follows, and that is why many analysts are deeply concerned that the yield curve is currently the flattest that it has been in about a decade.  In other words, according to one of the most reliable indicators that we have, we are closer to another recession than we have been at any point since the last financial crisis.  And when you combine this with all of the other indicators that are screaming that a new crisis is on the horizon, a very troubling picture emerges.  Hopefully this will turn out to be a false alarm, but it is looking more and more like big economic trouble is coming in 2018. (Read More...)

Obamacare Rage: One Family Of 4 In Virginia Is Faced With Paying $3,000 A Month For Health Insurance

Could you afford to pay $3000 a month for health insurance?  Previously, Ian Dixon had been paying $900 a month for health insurance for his family of four, but thanks to changes in the Charlottesville insurance market, a similar plan will now cost him more than $3,000 a month.  When I first came across this story on Zero Hedge, I have to admit that I got angry.  I was angry at the Democrats for destroying our healthcare system in the first place, and I was angry at Republicans for failing to repeal Obamacare even though they have had almost a full year to do so.  Obamacare is financially destroying hard working families all over the nation, and Congress must take action immediately. (Read More...)

Silicon Valley Exec Has Created A New Religion That Will Worship A ‘Godhead’ Based On Artificial Intelligence

I know that the headline sounds absolutely crazy, but this is actually a true story.  A Silicon Valley executive named Anthony Levandowski has already filed paperwork with the IRS for the nonprofit corporation that is going to run this new religion.  Officially, this new faith will be known as “Way Of The Future”, and you can visit the official website right here.  Of course nutjobs are creating “new religions” all the time, but in this case Levandowski is a very highly respected tech executive, and his new religion is even getting coverage from Wired magazine… (Read More...)

The Last Time These 3 Ominous Signals Appeared Simultaneously Was Just Before The Last Financial Crisis

We have not seen a “leadership reversal”, a “Hindenburg Omen” and a “Titanic Syndrome signal” all appear simultaneously since just before the last financial crisis.  Does this mean that a stock market crash is imminent?  Not necessarily, but as I have been writing about quite a bit recently, the markets are certainly primed for one.  On Wednesday, the Dow fell another 138 points, and that represented the largest single day decline that we have seen since September.  Much more importantly, the downward trend that has been developing over the past week appears to be accelerating.  Just take a look at this chart.  Could we be right on the precipice of a major move to the downside? (Read More...)

Democrats Have Filed Articles Of Impeachment, But We Aren’t Going To Allow Them To Impeach Trump

On Wednesday, a group of congressional Democrats filed five articles of impeachment against President Trump, and they say that they are doing this “because of great concerns for the country and our Constitution and our national security and our democracy”.  Of course this effort is probably not going anywhere because Republicans control both the Senate and the House, but it shows what could happen if the 2018 mid-term elections go badly.  If the Democrats are able to take back control of both the Senate and the House in 2018, they will attempt to impeach Trump.  And even if they get close to taking back control, they could potentially convince some establishment Republicans to join them in getting rid of the president. (Read More...)

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