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Post by Michael Downing on Sept 28, 2015 17:47:32 GMT -5
ncrenegade.com/editorial/this-may-be-the-beginning-of-the-economic-collapse/This May Be the Beginning of the Economic CollapseThere will be a world wide economic collapse. Anyone who disagrees either does not have the intellectual capacity to analyze the impact of the credit derivative “market” or they are suffering from a Pollyanna delusion. So what would be the catalyst for the beginning of the collapse? David DeGerolamo ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Glencore Implodes: Stock Plunges Most Ever, CDS Blow Out To Record Up On Equity Wipeout Fears Just last Thursday we asked whether Goldman was “preparing to sacrifice the next Lehman“, by which of course we meant the world’s largest commodity trading counterparty, Baar, Switzerland-based Glencore which just two weeks ago unveiled an unprecedented “doomsday” capital raising and deleveraging plan which, in retrospect, was not enough. The punchline of Goldman’s report was that if commodity prices drop 5%, or even stay where they are, then Glencore’s investment grade rating – the most critical foundation of its entire trading operation where a downgrade to junk would launch a collateral and margin-call waterfall cascade a la AIG – would be lost. From Goldman: Glencore’s trading business relies heavily on short-term credit to finance commodity deals and its financing costs would increase if it were to lose its Investment Grade credit rating. In addition, it could even lose some counterparties due to increased counterparty risk. As we added on Thursday, “what a junking of Glencore would do, is start a collateral demand waterfall cascade that the cash-strapped company simply would not be able to sustain.” So having laid out the strawman, Goldman next, very conveniently, explains just what would take for the Investment Grade trap to slam shut: “it would only take a c.5% fall in spot commodities prices for concerns about its credit rating to resurface.”
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Post by avordvet on Sept 30, 2015 4:22:51 GMT -5
This Is For The ‘Nothing Is Happening’ Crowd…By Michael Snyder, on September 29th, 2015 A lot of people out there expected something to happen in September that did not ultimately happen. There were all kinds of wild theories floating around, and many of them had no basis in reality whatsoever. But without a doubt, some very important things did happen in September. As I warned about ahead of time, we are witnessing the most significant global financial meltdown since the end of 2008. All of the largest stock markets in the world are crashing simultaneously, and so far the amount of wealth that has been wiped out worldwide is in excess of 5 trillion dollars. In addition to stocks, junk bonds are also crashing, and Bank of America says that it is a “slow moving trainwreck that seems to be accelerating“. Thanks to the commodity price crash, many of the largest commodity traders on the planet are now imploding. I wrote about the death spiral that has gripped Glencore yesterday. On Tuesday, the stock price of the largest commodity trader in Asia, the Noble Group, plummeted like a rock and commodity trading giant Trafigura appears to be in worse shape than either Glencore or the Noble Group. The total collapse of any of them could easily be a bigger event than the implosion of Lehman Brothers in 2008. So I honestly do not understand the “nothing is happening” crowd. It takes ignorance on an almost unbelievable level to try to claim that “nothing is happening” in the financial world right now. Within the last 60 days, we have seen some things happen that we have never seen before. theeconomiccollapseblog.com/archives/this-is-for-the-nothing-is-happening-crowd
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Post by avordvet on Oct 2, 2015 5:12:36 GMT -5
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Post by avordvet on Oct 4, 2015 5:53:18 GMT -5
Yes, This Is A Financial Crisis – 11 TRILLION Dollars In Stock Market Wealth Was Wiped Out In The 3rd QuarterBy Michael Snyder, on October 2nd, 2015 Did you know that 11 trillion dollars in global stock market wealth was wiped out during the third quarter of 2015? When I was emailed this figure by a friend, I was stunned for a moment. I knew that things were bad, but were they really this bad? When I first received this information, I had just finished a taping for a television show in which I had boldly declared that 5 trillion dollars of stock market wealth had been wiped out around the world. Unfortunately, the final number has turned out to be much larger than that. Over the past three months, the stock markets of all major global economies have been crashing simultaneously, and 11 trillion dollars of “paper wealth” has now completely vanished. The following comes from Fortune… theeconomiccollapseblog.com/archives/yes-this-is-a-financial-crisis-11-trillion-dollars-in-stock-market-wealth-was-wiped-out-in-the-3rd-quarter
Bug out vehicle prepped and ready...
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Post by avordvet on Oct 6, 2015 5:10:09 GMT -5
Stock Market Crash October 2015? 9 Of The 16 Largest Crashes In History Have Come This MonthBy Michael Snyder, on October 5th, 2015 The worst stock market crashes in U.S. history have come during the month of October. There is just something about this time of the year that seems to be conducive to financial panic. For example, on October 28th, 1929 the biggest stock market crash in U.S. history up until that time helped usher in the Great Depression of the 1930s. And the largest percentage crash in the history of the Dow Jones Industrial Average by a very wide margin happened on October 19th, 1987. Overall, 9 of the 16 largest single day percentage crashes that we have ever seen happened during the month of October. Of course that does not mean that something will happen this October, but after what we just witnessed in September we should all be on alert. Clearly, there is a tremendous amount of momentum toward the downside right now. As you can see from the chart below, all of the gains for the Dow since the end of the 2013 calendar year have already been wiped out… theeconomiccollapseblog.com/archives/stock-market-crash-october-2015-9-of-the-16-largest-crashes-in-history-have-come-this-month
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Post by Michael Downing on Oct 6, 2015 10:39:49 GMT -5
h/t N C Renegade www.zerohedge.com/news/2015-10-05/how-chinese-will-establish-new-financial-orderHow The Chinese Will Establish A New Financial OrderFor many years now, it’s been clear that China would soon be pulling the strings in the U.S. financial system. In 2015, the American people owe the Chinese government nearly $1.5 trillion. I know big numbers don’t mean much to most people, but keep in mind… this tab is now hundreds of billions of dollars more than what the U.S. government collects in ALL income taxes (both corporate and individual) each year. It’s basically a sum we can never, ever hope to repay – at least, not by normal means. Of course, the Chinese aren’t stupid. They realize we are both trapped. We are stuck with an enormous debt we can never realistically repay… And the Chinese are trapped with an outstanding loan they can neither get rid of, nor hope to collect. So the Chinese government is now taking a secret and somewhat radical approach. China has recently put into place a covert plan to get back as much of its money as possible – by extracting colossal sums from both the United States government and ordinary citizens, like you and me. The Chinese “State Administration of Foreign Exchange” (SAFE) is now engaged in a full-fledged currency war with the United States. The ultimate goal – as the Chinese have publicly stated – is to create a new dominant world currency, dislodge the U.S. dollar from its current reserve role, and recover as much of the $1.5 trillion the U.S. government has borrowed as possible. Lucky for us, we know what’s going to happen. And we even have a pretty good idea of how it will all unfold. How do we know so much? Well, this isn’t the first time the U.S. has tried to stiff its foreign creditors.
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Post by avordvet on Oct 9, 2015 4:28:37 GMT -5
Why Are The IMF, The UN, The BIS And Citibank All Warning That An Economic Crisis Could Be Imminent?By Michael Snyder, on October 8th, 2015 The warnings are getting louder. Is anybody listening? For months, I have been documenting on my website how the global financial system is absolutely primed for a crisis, and now some of the most important financial institutions in the entire world are warning about the exact same thing. For example, this week I was stunned to see that the Telegraph had published an article with the following ominous headline: “$3 trillion corporate credit crunch looms as debtors face day of reckoning, says IMF“. And actually what we are heading for would more accurately be described as a “credit freeze” or a “credit panic”, but a “credit crunch” will definitely work for now. The IMF is warning that the “dangerous over-leveraging” that we have been witnessing “threatens to unleash a wave of defaults” all across the globe… theeconomiccollapseblog.com/archives/why-are-the-imf-the-un-the-bis-and-citibank-all-warning-that-an-economic-crisis-could-be-imminent
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Post by avordvet on Oct 10, 2015 4:36:55 GMT -5
Another Petro-State Throws In The Towel: The Last Nail In The Petrodollar CoffinSubmitted by Tyler Durden on 10/09/2015 22:14 -0400 If we are right, a global recession is imminent, meaning the expected increase in dividend income will never materialize. In other words, the drawdown of the SWF will exceed its inflow even after adding financial income flows. The last remnant of the petro-dollar will thus die in 2016. www.zerohedge.com/news/2015-10-09/another-petro-state-throws-towel-last-nail-petrodollar-coffin
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Post by Michael Downing on Oct 10, 2015 7:46:16 GMT -5
h/t WRSA... straightlinelogic.com/2015/10/09/praying-to-the-porcelain-god-by-robert-gore/Praying to the Porcelain GodA loopy idea to “reinvigorate” a global economy that hasn’t been invigorated since the financial crisis is central-bank promoted negative interest rates. After a night of drinking, there comes a point where an additional drink does nothing for the drinker but make his toilet session later that evening and his hangover the next morning that much worse. The economic effect of negative interest rates would be similar to that deleterious drink. They will destroy what’s left of saving; the foundation of honest capitalism. Theoretically, if producers and investors can borrow at negative rates, it may be economically rational to undertake projects that lose money. Speculation will increase and end in its inevitable tears. Already over-indebted governments and consumers (in modern welfare states, most government spending funds consumption) will go deeper in debt. Negative interest rate proposals are really just last call at the central bankers’ Castaway Lounge. The patrons guzzling their final-finals then staggering into the night may or may not realize that it’s all downhill from there, but they’ll find out soon enough. The bigger the binge the bigger the purge, and this has been history’s biggest credit binge. After decades of below market interest rates that have reached their logical floor, the purge looms. The global economy has found its way to the bathroom, where it needs some quality time with the porcelain god. The worst thing the bartenders can do is offer hair of the dog. The best thing they can do is let the drunk suffer his punishment. Who knows, there’s an outside chance he may emerge from it resolved that it never happens again. Of course, we know how those resolutions go.
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Post by Michael Downing on Oct 11, 2015 18:30:56 GMT -5
ncrenegade.com/editorial/the-fed-just-found-another-2-7-trillion-in-debt/The FED Just Found Another $2.7 Trillion in DebtHere is the Fed’s mea culpa on that particular topic: Q: Why is the level of total debt outstanding in the September 18, 2015 release of the Z.1 Financial Accounts of the United States so much higher than it was in the previous Z.1 release? Total debt outstanding was revised upwards due to methodology changes to both Treasury securities and security credit. Total debt outstanding is now the sum of two new instrument categories: debt securities (table L.208) and loans (table L.214). The aggregate of these instrument categories was previously called credit market instruments. Treasury securities, part of the debt securities instrument category, now include nonmarketable Treasury securities held by federal government defined benefit retirement plans (FL343061145). The inclusion of federal government defined benefit retirement plans resulted in an upward revision to the level of federal government debt of about $1.408 trillion for 2014:Q4. See the published FEDS Note “Federal Government Defined Benefit Retirement Plans” for more details www.federalreserve.gov/econresdata/notes/feds-notes/2015/federal-…. In the domestic financial sector, borrowing previously classified as security credit liabilities (see release highlights) are now included as part of loans for the securities brokers and dealers sector. These are: (1) U.S.-chartered depository institutions loans for purchasing or carrying securities (FL763067003); (2) foreign banking offices in the U.S. loans for purchasing or carrying securities (FL753067003); and (3) Households and nonprofit organizations cash accounts at brokers and dealers (FL153067005). The revision to broker dealer debt for 2014:Q4 was roughly $962 billion. Similarly, borrowing previously classified as security credit liabilities of the household sector are now classified as loan liabilities. Margin accounts at brokers and dealers (FL663067003) are now included in the household sector’s other loans and advances instrument category. This change resulted in an upward revision of $370 billion to the outstanding amount of household sector loans for 2014:Q4. The bottom line: The total revision to the level of debt outstanding (debt securities plus loans) due to these methodology changes is approximately $2.74 trillion 2014:Q4
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Post by Michael Downing on Oct 12, 2015 21:45:36 GMT -5
ncrenegade.com/editorial/weve-never-seen-anything-like-this-dumbfounded-central-bankers-brace-for-rolling-series-of-crises/“We’ve Never Seen Anything Like This” – Dumbfounded Central Bankers Brace For “Rolling Series Of CrisesOne of the most important things to grasp about the Fed’s September (in)decision is that the FOMC had no viable options when it came to emerging markets. The combination of low commodity prices, falling demand, slumping global trade, a decelerating China, and the yuan devaluation have all served to accelerate capital outflows for EM and there’s certainly an argument to be made for the contention that a Fed hike and a subsequent spike in the dollar would be just about the last thing EM needs when it comes to stopping the bleeding. That said, there’s another line of argumentation which says the Fed missed its window to hike long ago and so now, all they’re doing in the Eccles Building is fostering continued uncertainty which is also causing capital to flow out of EM. In the simplest terms possible: no one really has any idea whether it’s best to rip the band-aid off or not, and adding to the confusion is the fact that the Fed has now telegraphed its own uncertainty by explicitly acknowledging the reflexivity problem, meaning EMs (and everyone else for that matter) are desperately trying to figure out how to incorporate themselves into their own outlook for what the Fed may or may not do.
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Post by avordvet on Oct 14, 2015 5:07:03 GMT -5
The Numbers Say That A Major Global Recession Has Already BegunBy Michael Snyder, on October 13th, 2015 The biggest bank in the western world has just come out and declared that the global economy is “already in a recession”. According to British banking giant HSBC, global trade is down 8.4 percent so far this year, and global GDP expressed in U.S. dollars is down 3.4 percent. So those that are waiting for the next worldwide economic recession to begin can stop waiting. It is officially here. As you will see below, money is fleeing emerging markets at a blistering pace, major global banks are stuck with huge loans that will never be repaid, and it looks like a very significant worldwide credit crunch has begun. Just a few days ago, I explained that the IMF, the UN, the BIS And Citibank were all warning that a major economic crisis could be imminent. They aren’t just making this stuff up out of thin air, but most Americans still seem to believe that everything is going to be just fine. The level of blind faith in the system that most people are demonstrating right now is absolutely astounding. The numbers say that the global economy has not been in this bad shape since the devastating recession that shook the world in 2008 and 2009. According to HSBC, “we are already in a dollar recession”… theeconomiccollapseblog.com/archives/the-numbers-say-that-a-major-global-recession-has-already-begun
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Post by Michael Downing on Oct 14, 2015 17:30:17 GMT -5
www.reuters.com/article/2015/10/14/us-wal-mart-shareholders-idUSKCN0S81MQ20151014Wal-Mart warns on profit, stock has steepest decline in 25 yearsWal-Mart Stores Inc warned on Wednesday that higher wages as well as spending on e-commerce and lower prices would cut earnings per share as much as 12 percent next fiscal year, sparking the steepest one-day decline in the company's shares in 25 years. Wal-Mart faces tough competition on multiple fronts, from the relentless expansion of online leader Amazon.com Inc to dollar stores and supermarkets fighting for a piece of its grocery business. Its international operations are also under pressure with a stronger dollar eating into sales. Wal-Mart Chief Executive Doug McMillon said a $1.5 billion investment in wages and training, including raising the minimum store wage to $10 an hour from $9, were needed to improve customer service and would account for three-quarters of the expected 6 percent to 12 percent drop in earnings per share next year. Wal-Mart also announced a $20 billion share buyback but the drop in its share price wiped out close to the same amount in market value, and the 10 percent drop was the worst one-day percentage performance since January 1988. The decline in Wal-Mart shares pulled down the Dow Jones Industrial Average, accounting for a quarter of the 1 percent drop in the index.
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Post by avordvet on Oct 15, 2015 3:57:40 GMT -5
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Post by avordvet on Oct 20, 2015 4:56:55 GMT -5
Chug, chug, sputter, chug, sputter... Global Trade Is Collapsing As The Worldwide Economic Recession DeepensBy Michael Snyder, on October 19th, 2015 When the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down. It is just basic economics. Governments around the world have become very adept at manipulating other measures of economic activity such as GDP, but the trade numbers are more difficult to fudge. Today, China accounts for more global trade than anyone else on the entire planet, and we have just learned that Chinese exports and Chinese imports are both collapsing right now. But this is just part of a larger trend. As I discussed the other day, British banking giant HSBC has reported that total global trade is down 8.4 percent so far in 2015, and global GDP expressed in U.S. dollars is down 3.4 percent. The only other times global trade has plummeted this much has been during other global recessions, and it appears that this new downturn is only just beginning. For many years, China has been leading the revolution in global trade. But now we are witnessing something that is almost unprecedented. Chinese exports are falling, and Chinese imports are absolutely imploding… theeconomiccollapseblog.com/archives/global-trade-is-collapsing-as-the-worldwide-economic-recession-deepens
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Post by avordvet on Oct 21, 2015 4:56:01 GMT -5
20 Reasons Why All The People That Quit Prepping After September Are Dead WrongBy Michael Snyder, on October 20th, 2015 Millions of Americans were gearing up for some huge event to happen in September, but the world didn’t end and now many of them have given up entirely on prepping. Of course the truth is that some absolutely earth-shattering events did take place last month, but because September did not play out exactly as some were anticipating, a lot of people feel very let down. My contacts in the emergency food industry tell me that sales have dropped off dramatically, and yesterday I was told by someone that I trust that the same is true for those that sell precious metals. But this should not be happening. What we witnessed in August and September was just the warm up act, and all of the numbers are absolutely screaming at us that we are right on track for a major global crisis. In this article I am going to focus on economic and financial issues, but there are so many other things going on around the planet right now that threaten to throw our world into turmoil. Anyone that thinks that it is safe to “relax” now is simply not paying attention. The following are 20 reasons why all the people that quit prepping after September are dead wrong… theeconomiccollapseblog.com/archives/20-reasons-why-all-the-people-that-quit-prepping-after-september-are-dead-wrong
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Post by Michael Downing on Oct 21, 2015 14:34:32 GMT -5
ncrenegade.com/editorial/if-caterpillars-data-is-right-this-is-a-global-industrial-depression/If Caterpillar’s Data Is Right, This Is A Global Industrial DepressionMoments ago, CAT reported its latest monthly retail sales and they were even worse than last month: in the month of September there was not a single region that posted either a increase of an unchanged print. This was the first month in all of 2015 in which every region posted a drop. Most cats bounce at least once when they die, but not this one: after CAT posted its first annual drop in retail sales in December of 2012, it has failed to see a rise in retail sales even once. In fact, since then Caterpillar has seen 34 consecutive months of declining global sales, and 11 consecutive months of double digit declines! Why is this important? Because a month ago we asked: “What On Earth Is Going On With Caterpillar Sales?” We have been covering the ongoing collapse in global manufacturing as tracked by Caterpillar retail sales for so long that there is nothing much to add. Below we show the latest monthly data from CAT which is once again in negative territory across the board, but more importantly, the global headline retail drop (down another 11% in August) has been contracting for 33 consecutive months! This is not a recession; in fact the nearly 3 year constant contraction – the longest negative stretch in company history – is beyond what most economists would deem a depression. We got the answer just three days later when the industrial bellwether confirmed the world is now in an industrial recession, when it not only slashed its earnings outlook, but announced it would fire a record 10,000.
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Post by Michael Downing on Oct 28, 2015 13:37:36 GMT -5
ncrenegade.com/editorial/just-in-time-for-christmas-trucking-is-suddenly-slowing-down/Just in Time for Christmas: Trucking is Suddenly Slowing DownThis comes at the totally wrong time. Trucking had been booming. 2014 had been a banner year. Capacity was squeezed, and rates were rising, so trucking companies went on a buying binge, ordering everything in the book in preparation for red-hot demand in 2015 and more banner years down the road. But then came 2015. Among businesses, over-ordering and tepid sales caused inventories to rise and the inventory-to-sales ratio to spike to Financial Crisis proportions. And now businesses are trying to bring them down by trimming orders because they’re having trouble selling more to the middle class, the over-indebted modern proletariat whose stagnant incomes are being eaten up by skyrocketing costs of housing, healthcare, college, and the like – and they simply can’t spend that much on shippable items. And now this is ricocheting through the industry. Monday after hours, the largest US truckload carrier, Swift, announced earnings. And on Tuesday, it clarified the debacle. It’s suffering from indigestion. The high costs from its red-hot capacity increase – average truck count jumped by 831 trucks in the third quarter from a year earlier – are now slamming into swooning freight demand. Operating revenue declined 1%, which Swift blamed on the disappearing fuel surcharge, though it didn’t explain why it is getting away with still charging $109 million in fuel surcharges when diesel prices have plunged to rock-bottom.
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Post by Michael Downing on Oct 29, 2015 12:29:49 GMT -5
ncrenegade.com/editorial/deutsche-bank-reports-massive-loss-will-cut-35000-jobs-exit-10-countries-in-sweeping-overhaul/Deutsche Bank Reports Massive Loss, Will Cut 35,000 Jobs, Exit 10 Countries In Sweeping OverhaulAs we put it a few days ago while mocking Saudi Arabia’s attitude toward “collateral damage” from its bombing runs in Yemen, “you can’t make an omelette without breaking a few eggs.” Well, over at Deutsche Bank, John Cryan has been busy crushing whole cartons worth. From sweeping job cuts, to reorganizations, to eliminating the dividend, Cryan has been a veritable wrecking ball since taking the helm from co-CEOs Anshu Jain (who is gone) and Jürgen Fitschen (who is leaving). Just yesterday, Europe’s largest bank announced that the dividend would be scrapped as part of “Strategy 2020.” Here are some other key points from Cryan’s “plan”: ◾CET 1 ratio: at least 12.5% from the end of 2018 ◾Leverage ratio: at least 4.5% at the end of 2018 and at least 5.0% at the end of 2020 ◾Return on Tangible Equity (RoTE): greater than 10% by 2018 ◾Adjusted Costs (total noninterest expenses excluding restructuring and severance, litigation, impairment of goodwill and intangibles and policyholder benefits and claims) of less than EUR 22.0 billion by 2018 ◾Cost/income ratio (CIR) of approximately 70% in 2018 and of approximately 65% in 2020 ◾Risk Weighted Assets (RWA) (excluding regulatory inflation following regulatory changes expected to be at least EUR 100 billion by 2019/2020) of approximately EUR 320 billion at the end of 2018 and of approximately EUR 310 billion at the end of 2020. Well, the hits just kept coming on Thursday as Deutsche Bank made good on a promise to write down billions in assets in its investment bank and retail- and private-banking operations. The Q3 loss: €6 billion.
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Post by avordvet on Nov 9, 2015 5:41:08 GMT -5
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Post by avordvet on Nov 9, 2015 13:12:37 GMT -5
Ex-GAO head: US debt is three times more than you thinkNovember 07, 2015, 07:00 pm, By Bradford Richardson The former U.S. comptroller general says the real U.S. debt is closer to about $65 trillion than the oft-cited figure of $18 trillion. Dave Walker, who headed the Government Accountability Office (GAO) under Presidents Bill Clinton and George W. Bush, said when you add up all of the nation’s unfunded liabilities, the national debt is more than three times the number generally advertised. “If you end up adding to that $18.5 trillion the unfunded civilian and military pensions and retiree healthcare, the additional underfunding for Social Security, the additional underfunding for Medicare, various commitments and contingencies that the federal government has, the real number is about $65 trillion rather than $18 trillion, and it’s growing automatically absent reforms,” Walker told host John Catsimatidis on “The Cats Roundtable” on New York’s AM-970 in an interview airing Sunday. thehill.com/blogs/blog-briefing-room/news/259476-ex-gao-head-us-debt-is-three-times-more-than-you-think
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Post by avordvet on Nov 23, 2015 5:04:10 GMT -5
"It's All A Lie" - Eric Sprott Slams Massive Monetary Metals ManipulationSubmitted by Tyler Durden on 11/22/2015 20:10 -0500, Submitted by Mac Slavo via SHTFPlan.com, The manipulation of precious metals, coupled with the supply and demand fundamentals which Sprott says will lead to shortages over the next few years as mining companies reduce output or close up shop, will leave many investors who think their gold holdings are easily convertible to physical assets with nothing more than depreciating Yellen Bucks at exactly the moment they’ll need precious metals in their possession. www.zerohedge.com/news/2015-11-22/its-all-lie-eric-sprott-slams-massive-monetary-metals-manipulation
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Post by avordvet on Dec 2, 2015 5:28:42 GMT -5
The walls keep crumbling down...
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Post by avordvet on Dec 3, 2015 5:49:06 GMT -5
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Post by avordvet on Dec 4, 2015 5:19:20 GMT -5
27 Major Global Stocks Markets That Have Already Crashed By Double Digit Percentages In 2015By Michael Snyder, on December 3rd, 2015 Anyone that tries to tell you that a global financial crisis is not happening is not being honest with you. Right now, there are 27 major global stock markets that have declined by double digit percentages from their peaks earlier this year. And this is truly a global phenomenon – we have seen stock market crashes in Asia, Europe, South America, Africa and the Middle East. But because U.S. stocks are only down less than a thousand points from the peak earlier this year, most Americans seem to think that everything is just fine. The truth, of course, is that everything is not fine. We are witnessing a pattern similar to what we saw back in 2008. Back then, Chinese stocks and other major stock markets started crashing first, and then U.S. stocks followed later. And it appears that we may have entered the next leg down for markets in the western world this week. The Dow was down another 252 points on Thursday, and all of the major stock indexes in the U.S. are now negative for the year except for the NASDAQ. Unless there is a major turnaround in the coming weeks, the six year winning streak for U.S. stocks is likely over. theeconomiccollapseblog.com/archives/27-major-global-stocks-markets-that-have-already-crashed-by-double-digit-percentages-in-2015
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Post by avordvet on Dec 4, 2015 13:06:24 GMT -5
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Post by avordvet on Dec 7, 2015 13:21:45 GMT -5
Peter Schiff Warns: "The Whole Economy Has Imploded... Collapse Is Coming"Submitted by Tyler Durden on 12/07/2015 12:17 -0500 Submitted by Mac Slavo via SHTFPlan.com, Back before 2008 Peter Schiff was harshly criticized and laughed at for his predictions about a coming economic collapse. Among other things Schiff warned that consumer spending had hit a wall, stocks were overpriced and lax credit lending practices would lead to a detonation of the banking system. Rather than heed the warnings, the biggest names in mainstream media tried to discredit him for not toeing the official narrative. Shortly thereafter, of course, Schiff was vindicated and much of the doom he had forecast came to pass. Today, Schiff continues to argue that the economy is on a downhill trajectory and this time there’ll be no stopping it. All of the emergency measures implemented by the government following the Crash of 2008 were merely temporary stop-gaps. The light at the end of the tunnel being touted by officials as recovery, Schiff has famously said, is actually an oncoming train. And if the forecast he laid out in his latest interview is as accurate as those he shared in 2007, then the the train is about to derail. www.zerohedge.com/news/2015-12-07/peter-schiff-warns-whole-economy-has-imploded-collapse-coming
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Post by Michael Downing on Dec 7, 2015 16:59:28 GMT -5
h/t Gunny G usawatchdog.com/war-economic-calamity-coming-2016-predictions-gerald-celente/War & Economic Calamity Coming, 2016 Predictions-Gerald CelenteTop trends forecaster Gerald Celente says 2016 is going to be very rough. What’s coming right at us? Celente says, “Global recession, and it’s already happening, all they have to do is open their eyes and open their ears. Iron ore, copper, aluminum, nickel, zinc, one after another from wheat to dairy products to corn. When you look at the Bloomberg Index, it’s down to 1999 levels on average. What is that telling us? There is too much product and not enough demand. It’s the same thing with oil. There’s too much production and not enough demand. . . . What we are looking at is a global slowdown because commodities are the canary in the mine shaft.” Celente says all this is signaling another financial bust bigger than 2008. Celente explains, “So, what you have is a bubble, a debt bubble that has grown to $220 trillion worldwide since this fake quantitative easing and negative interest rate schemes that have gone on with central bank after central bank. . . You can’t make this up. Interest rates and negative yields have never happened before in the world. This is brand new. They are over their heads and out of their league. They don’t know what they are doing. They are making panic decisions trying to keep the Ponzi alive.” On global war, Celente says, “Unfortunately, when all else fails, they take us to war. Look, go back to 1929 and the market crash. You had market crashes, Great Depression, currency wars, trade wars, world war. Voila, here we are again. Panic of ‘08, Great Recession, currency wars world war. . . . When the market collapses, the war talk will heat up.” Gold and silver are running counter to other commodities. Why? Celente says, “Demand is up for gold and silver. To me, it is the ultimate safe haven. I’ve been saying since 2012 and 2013 that the bottom for gold is about $1,050 an ounce. I gave that number out because that’s about what it costs to pull it out of the ground. . . . Gold is about planning for the worst.”
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Post by Michael Downing on Dec 7, 2015 21:36:07 GMT -5
ncrenegade.com/editorial/guess-what-happened-the-last-time-the-price-of-oil-plunged-below-38-dollars-a-barrel/Guess What Happened The Last Time The Price Of Oil Plunged Below 38 Dollars A Barrel?On Monday, the price of U.S. oil dropped below 38 dollars a barrel for the first time in six years. The last time the price of oil was this low, the global financial system was melting down and the U.S. economy was experiencing the worst recession that it had seen since the Great Depression of the 1930s. As I write this article, the price of U.S. oil is sitting at $37.65. For months, I have been warning that the crash in the price of oil would be extremely deflationary and would have severe consequences for the global economy. Nations such as Japan, Canada, Brazil and Russia have already plunged into recession, and more than half of all major global stock market indexes are down at least 10 percent year to date. The first major global financial crisis since 2009 has begun, and things are only going to get worse as we head into 2016. The global head of oil research at Societe Generale, Mike Wittner, says that his “head is spinning” after the stunning drop in the price of oil on Monday. Just like during the last financial crisis, we have broken the psychologically important 40 dollar barrier, and there are concerns that we could go much lower from here…
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Post by Michael Downing on Dec 9, 2015 18:44:41 GMT -5
ncrenegade.com/editorial/the-global-economic-reset-has-begun/ The Global Economic Reset Has BegunIn my last article, I outlined the deliberately engineered trend toward the forced “harmonization” of national economies and monetary policies, as well as the ultimate end goal of globalists: a single world currency system controlled by the International Monetary Fund and, by extension, global governance, which internationalists sometimes refer to in their more honest public moments as the “new world order.” The schematic for the new world order, according to the admissions of the internationalists, cannot possibly include the continued existence of U.S. geopolitical and economic dominance. The plan, in fact, requires the destabilization and reformation of America into a shell of its former glory. The most important element of this plan demands the removal of the U.S. dollar as the de facto world reserve currency, a change that would devastate our current financial structure. I outlined with undeniable evidence the reality that major governments, including the BRICS governments of the East, are fully on board with the globalist agenda. There is no way around it; the BRICS, including Russia and China, have openly called for a global monetary system centralized and dictated by the IMF using the SDR basket. This same plan was outlined decades ago in the Rothschild-owned magazine The Economist. We are witnessing that plan being implemented in front of our very eyes today.
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