May 25

Related info:

SUPER SHEMITAH: Elite’s Jubilee Year Plan To Crash World Economy By October 2016 (Video)


$68 TRILLION “BIBLICAL CRASH” Dead Ahead? Jim Rogers Issues a DIRE WARNING:

“A $68 trillion ‘Biblical’ collapse is poised to wipe out millions of Americans…”

Submitted by Jeff Berwick, The Dollar Vigilante

Last year, we were the first financial site to explain how the Shemitah seven-year cycle would have an important and disastrous effect on the markets. The Shemitah ended in the third quarter of last year and just as we predicted, it was the worst quarter in worldwide stock markets since the last Shemitah in 2008.

Since then we have been the leader in explaining further Shemitah trends embedded in the once-every-49-year, Jubilee Year.  The Jubilee Year ends on October 2nd of this year, and we expect even worse events to occur as October approaches.

Now, famous investor, Jim Rogers, has just released a new warning saying the same. He is even using biblical references to warn of a financial tsunami that could take place either this year or next.  He has just said, “A $68 trillion ‘Biblical’ collapse is poised to wipe out millions of Americans.” Continue reading »

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May 23

Zombie Economy Soon to Have its Zombie Epocalypse

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May 23

We’re in the Eye of a Global Financial Hurricane:

The only “growth” we’re experiencing are the financial cancers of systemic risk and financialization’s soaring wealth/income inequality.

The Keynesian gods have failed, and as a result we’re in the eye of a global financial hurricane.

financial system hurricane

The Keynesian god of growth has failed.

The Keynesian god of borrowing from the future to fund today’s consumption has failed.

The Keynesian god of monetary stimulus / financialization has failed.

Every major central bank and state worships these Keynesian idols: Continue reading »

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May 21

H/t reader I.G.


migrant-crisis-the-death-of-europe

The Death of Europe:

How the Mohammed retirement plan will kill Europe.

Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam.

European leaders talk about two things these days; preserving European values by taking in Muslim migrants and integrating Muslim migrants into Europe by getting them to adopt European values.

It does not occur to them that their plan to save European values depends on killing European values. Continue reading »

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May 20

H/t reader squodgy:

“Now in view of the BDI, Caterpillar, Truck orders and so on, this was inevitable, and about two years overdue.

I still don’t understand why these geniuses didn’t see the writing on the wall when it was obvious five years ago that economic growth was unsustainable.

Bloody fools.”


Shipbuilding Industry Collapses, Hits China and South Korea:

Global overcapacity, plunging demand, and a price war

In the first quarter, South Korean shipbuilders saw their orders collapse by 94.1% to 170,000 compensated gross tons (CGT), compared to the prior year. In terms of dollars, orders collapsed 94% from $6.5 billion in Q1 2015 in to just $390 million.

Global orders for new vessels in Q1 have collapsed too, but slightly less, according to the Export-Import Bank of Korea, cited by IHS Fairplay: down 71% year-over-year to 2.32 CGT. Continue reading »

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May 19

Caterpillar Retail Sales Fall For Record 41 Consecutive Months:

For Caterpillar, the great recession was bad, for about 19 months. In May 2010, after declining sharply for just under two years, CAT posted it first positive global retail sales comps and never looked back… until December 2012 when comp sales once again turned negative and have been negative ever since. For the past 41 months!

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May 19

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May 18

Saudi Arabia Admits To A Full-Blown Liquidity Crisis: Will Pay Government Contractors With IOUs, Debt:

Now, Saudi economic (and liquidity) problems just spilled out into the open, because Bloomberg reported moments ago, Saudi Arabia has told banks it is considering paying some outstanding bills to contractors with government-issued bonds, citing people with knowledge of matter say. Contractors would be able to hold bond-like instruments until maturity.  Bloomberg adds that issuing bonds is one of several options being considered.

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May 16

“Markets Have No Purpose Any More” Mark Spitznagel Warns “Biggest Collapse In History” Is Inevitable:

After making over $1 billion in one day last August, and warning that “the markets are overvalued to the tune of 50%,” Mark Spitznagel knows a thing or two about managing tail risk.

Mark Spitznagel Warns Biggest Collapse In History Is Inevitable

The outspoken practitioner of Austrian economic philosophy tells The FT, “Markets don’t have a purpose any more – they just reflect whatever central planners want them to,” confirming his fund-management partner, Nassim Taleb’s perspective that “being protected from fragility in the financial system is a necessity rather than an option.”

“This is the greatest monetary experiment in history. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable.” Continue reading »

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May 15

“We are rather waiting for things to get truly out of hand. And that will happen in the following months. The situation is extremely unstable and the status quo can’t last. We are witnessing daily looting at supermarkets, and people are protesting.”


GNB

“Venezuela Is on the Brink of Social Collapse,” National Guardsman (PanAm Post):

Food Shortages Cause Daily Looting, Energy Crisis Worsens as National State of Emergency Approaches

In recent months, Venezuelan citizens have taken to the streets to demand solutions to the current economic crisis from the government. Many have even requested President Nicolás Maduro’s resignation.

The Venezuelan state has responded to these protests with repression. Certain office holders have been accused of committing human rights violations. As a result, political leaders from the opposition have asked the Venezuelan security forces — especially the army and the Bolivarian National Guard — to denounce any crimes that the state has committed. Continue reading »

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May 13

Venezuela looting_0

Scenes From The Venezuela Apocalypse: “Countless Wounded” After 5,000 Loot Supermarket Looking For Food:

Over the last several years we have documented with clockwork regularity Venezuela’s collapse into failed state status, which was cemented several weeks ago when news hit that “Venezuela had officially run out of money to print new money.”  At that point the best one could do was merely to step back and watch as local society and civilization turned on itself, unleashing what would ultimately turn into Venezuela’s own, sad apocalypse.

Last night we showed what Caracas, looks like this week:

caracas-venezuela

As we wrote then these are simply hungry Venezuelans protesting that their children are dying from lack of food and medicine and that they do not have enough water or electricity. As AgainstCronyCapitalism added, this is a country with more oil than Saudi Arabia, and the government has stolen all the money and now they bottleneck peaceful protesters and threaten them with bombs (or haul them to prison and torture them). Continue reading »

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May 13

Redistribution

Related info:

Oops! The Federal Reserve Admits QE Widens Inequality

“When a country embarks on deficit financing (Bush-Obamanomics) and inflationism (Quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.
– Ron Paul

Quantitative easing = printing money = creating money out of thin air = increasing the money supply = inflation = hidden tax on monetary assets = theft!!!

“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
– Ron Paul

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
– John Maynard Keynes

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
– Alan Greenspan


hunger-games

Pew Research Study – The American Middle Class Declined in 90% of Metro Areas From 2000-2014:

When you bail out financial criminals and predators, you get a criminal and predatory economy. If there’s one clear lesson from the 2008 crisis and its aftermath, that should be it.

– From last year’s post: Another Tale from the Oligarch Recovery – How a $1,500 Sofa Costs $4,150 When You’re Poor

The Pew Research Center recently released a fascinating study which showed what many of us already suspected, that the U.S. middle class has declined in 90% of metropolitan areas from 2000-2014, or in 203 of 229 areas studied.

The details are just as interesting as the headline, some of which will provide ammunition for those looking to spin the historic 21st century status quo plunder into something an resembling economic recovery. Specifically, Pew notes that: Continue reading »

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May 12

Raw Venezuela: Looter Burned Alive, While “Streets Filled With People Killing Animals For Food”:

The situation in Venezuela is reaching all out chaos, as crippling socialist policies have resulted in a devastating power and food shortage, as well as looming political instability. This is Caracas today…

caracas-venezuela

These are hungry Venezuelans protesting that their children are dying from lack of food and medicine and that they do not have enough water or electricity. As AgainstCronyCapitalism reports, this is a country with more oil than Saudi Arabia, and the government has stolen all th emoney and now they bottleneck peaceful protesters and threaten them with bombs (or haul them to prison and torture them).

On the other side, Vice President Aristobulo Isturiz, speaking on state television, said that a separate march will be held to support the extension of President Nicolas Maduro’s economic emergency decree.

As SHTFPlan.com’s Mac Slavo details, the point was reached long ago where people were forced to wait in long lines for basic rations that may not even be there, or turn to the black market.

Now, hunger and scarcity have apparently reached a tipping point that is driving people to poach stray animals and even pets for food.

According to the PanAm Post: Continue reading »

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May 11

Dollar-Bending

11 Signs That The U.S. Economy Is Rapidly Deteriorating Even As The Stock Market Soars:

We have seen this story before, and it never ends well.  From mid-March until early May 2008, a vigorous stock market rally convinced many investors that the market turmoil of late 2007 and early 2008 was over and that happy days were ahead for the U.S. economy.  But of course we all know what happened.  It turned out that the market downturns of late 2007 and early 2008 were just “foreshocks” of a much greater crash in late 2008.  The market surge in the spring of 2008 was just a mirage, and it masked rapidly declining economic fundamentals.  Well, the exact same thing is happening right now.  The Dow rose another 222 points on Tuesday, but meanwhile virtually every number that we are getting is just screaming that the overall U.S. economy is steadily falling apart.  So don’t be fooled by a rising stock market.  Just like in the spring of 2008, all of the signs are pointing to an avalanche of bad economic news in the months ahead.

The following are 11 signs that the U.S. economy is rapidly deteriorating…

Continue reading »

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May 08

Albert Edwards: “Let Me Tell You How This All Ends”:

The dollar’s recent rapid slide has been accompanied by a constant backdrop of dovish cooing from the Fed. Until this week, SocGen’s Albert Edwards notes that both equity and commodity markets had embraced the weak dollar as the elixir to solve all their ills. That relief, however, has now proved fleeting as fear of weak economic activity has reasserted its influence on investors. The weak dollar, Edwards warns, should be seen as merely a shuffling of deckchairs on the Titanic before the global economy sinks below the icy waves. Continue reading »

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May 07

The Next Employment Crisis Is Here: Job Cuts At U.S. Companies Jump 35 Percent In April:

Should we be alarmed that the number of job cuts announced by large U.S. companies was 35 percent higher in April than it was in March?  This is definitely a case where the trend is not our friend.  According to Challenger, Gray & Christmas, U.S. firms announced 65,141 job cuts during April, which represented a massive 35 percent increase over the previous month.  And so far this year overall, job cut announcements are running 24 percent higher than for the exact same period in 2015.  Meanwhile, on Thursday we learned that initial claims for unemployment benefits shot up dramatically last week.  In fact, the jump of 17,000 was the largest increase that we have seen in over a year.  Of course the U.S. economy has been slowing down for quite a while now, and many have been wondering when we would begin to see that slowdown reflected in the employment numbers.  Well, that day has now arrived. Continue reading »

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May 05

Union-Pacific-Engines-Google-Earth

Rail Traffic Depression: 292 Union Pacific Engines Are Sitting In The Arizona Desert Doing Nothing:

We continue to get more evidence that the U.S. economy has entered a major downturn.  Just last week, I wrote about how U.S. GDP growth numbers have been declining for three quarters in a row, and previously I wrote about how corporate defaults have surged to their highest level since the last financial crisis.  Well, now we are getting some very depressing numbers from the rail industry.  As you will see below, U.S. rail traffic was down more than 11 percent from a year ago in April.  That is an absolutely catastrophic number, and the U.S. rail industry is feeling an enormous amount of pain right now.  This also tells us that “the real economy” is really slowing down, because less stuff is being shipped by rail all over the nation. Continue reading »

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May 05

Surprise! Baltic Dry Index Plunges Most Since November As Commodity Bubble Bursts:

Who could have seen this coming? Remember a week ago when TV entertainers crowed about the surge in The Baltic Dry Freight Index was a “clear signal” that ‘China is back’ baby and that escape velocity growth was just around the corner as global growth was destined to pick up…

20160505_bdiy1

Well, just as we warned very explicitly, the ramp in the index merely reflected the frenzied speculation in industrial metals by the Chinese and as authorities have cracked down on that idiocy, so the Baltic Dry has plunged by the most since November… as real demand punches back. Continue reading »

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May 05

The True State Of The US Consumer: All Six Retail Companies Reporting April Comp Sales Missed

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Apr 28

This Is The End: Venezuela Runs Out Of Money To Print New Money:

Back in February, when we commented on the unprecedented hyperinflation about the be unleashed in the Latin American country whose president just announced that he would expand the “weekend” for public workers to 5 days

venezuela inflation_0

… we joked that it is unclear just where the country will find all the paper banknotes it needs for all its new physical currency. After all, central-bank data shows Venezuela more than doubled the supply of 100-, 50- and 2-bolivar notes in 2015 as it doubled monetary liquidity including bank deposits. Supply has grown even as Venezuela has fewer U.S. dollars to support new bolivars, a result of falling oil prices.  Continue reading »

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Apr 26

China Commodity Bubble Bursts As Exchanges Curb Goldman’s “Biggest Concern”:

During the last week we have highlighted the frightening similarity between the speculative spike in China commodity trading (which has sent industrial metals prices soaring in yet another ‘error’ signal for real supply and demand) and the pump-n-dump in Chinese stocks. Specifically, as Goldman warns the factor that “concerns us the most is the increased speculation in the Chinese iron ore futures market,” and now, as Bloomberg reports, it appears that bubble is bursting as Steel and Iron Ore prices tumble most in 21 months after Chinese exchanges raise margins in an attempt to curb speculation.

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Apr 24

Ticking-TimeBomb-Americans-In-Horrible-Financial-Shape-Just-Prior-to-The-Next-Crisis

Ticking TimeBomb: Americans In Horrible Financial Shape Just Prior to The Next Crisis:

We said after the 2008 crisis that the financial system had died.  In fact, that was our cue to start The Dollar Vigilante. And we said all they would do was print money to make it seem like the economic system was still functioning until the next major crisis/collapse, which we said was likely to occur between 2015-2020.

And that is exactly what happened as we now sit on the precipice of the next great collapse. Just look at US national debt… it has doubled since 2008!  And, we’re now living in a world with negative interest rates.  The system is in its final stages.  Yet, your average American is more preoccupied about who should be allowed to use which bathroom than about the disintegration of the dollar economy. Continue reading »

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Apr 24

king-dollar

Is This The End Of The U.S Dollar? Geopolitical Moves “Obliterate U.S Petrodollar Hegemony “:

It seems the end really is nigh for the U.S. dollar.

And the mudfight for global dominance and currency war couldn’t be more ugly or dramatic.

The Saudis are now openly threatening to take down the U.S. economy in the ongoing fallout over collapsing oil prices and tense geopolitical events involving the 9/11 cover-up. The New York Times reports:

Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.

China has been working for years to establish global currency status, and will strengthen the yuan by backing it with gold in moves clearly designed to cripple the role of the dollar. Zero Hedge reports: Continue reading »

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Apr 23

From the article:

Goldenport, one of the last shipping companies left on the London Stock Exchange, has delisted from the market and sold off six of its remaining eight vessels for $1…

…”average daily hire rates have fallen below even a vessel’s daily operating expenses.”


tanker starbucks

It’s Now Cheaper To ‘Buy’ A Dry Bulk Freight Tanker Than A Starbucks Coffee:

Just 3 short months ago, we detailed how – thanks to the collapse in China’s growth and massive commodity inventory gluts, the cost of renting a Dry Bulk Tanker was less than the cost of renting a ferrari for a day…

tanker ferrari

As Bloomberg reported at the time,

Rates for Capesize-class ships plummeted 92 percent since August to $1,563 a day amid slowing growth in China. That’s less than a third of the daily rate of 3,950 pounds ($5,597) to rent a Ferrari F40, the price of which has also fallen slightly in the past few years, according to Nick Hardwick, founder of supercarexperiences.com. Continue reading »

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Apr 22

Pay Attention To The Economy Right Now, Because A Disturbing Series Of Events Seems To Be In Motion:

This article was written by Daisy Luther and originally published at her TheOrganicPrepper.ca site.

Editor’s Comment: Stability is paper thin, an illusion, a coyote over a cliff. The big banks on Wall Street have seized even greater power since the 2008 and collapse and are poised to consolidate the balance in the wake of the coming “third wave,” as Goldman Sachs recently warned in its own ominous statements.

For preppers, and anybody with a head on their shoulders, staying informed will mean staying ahead of the curve. The insiders at the top know the right moment to pull out their money, but the rest of us don’t. In the absence of privileged information, we can avoid the obvious traps, and hedge ourselves against some of the worst potential repercussions. But the truth is, this next wave could mean wipe out for tens of millions.

Economic Collapse? Fed Issues an Ominous Warning to JPMorgan Chase and Leaders Flock to Secret Meetings

by Daisy Luther

Tick. Tock. Continue reading »

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Apr 20

Housing Starts Plunge 8.8%, Permits Plunge 7.7%; Bloomberg Cites “Fundamental Strength”:

Those expecting a strong Spring start to housing (and you know who you are),  were miles off their forecast.

Both starts and permits were down steep percentages, both below the bottom ranges of economists’ estimates. Continue reading »

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Apr 19

Corporate-Debt-Defaults

Corporations Are Defaulting On Their Debts Like It’s 2008 All Over Again:

The Dow closed above 18,000 on Monday for the first time since July.  Isn’t that great news?  I truly wish that it was.  If the Dow actually reflected economic reality, I could stop writing about “economic collapse” and start blogging about cats or football.  Unfortunately, the stock market and the economy are moving in two completely different directions right now.  Even as stock prices soar, big corporations are defaulting on their debts at a level that we have not seen since the last financial crisis.  In fact, this wave of debt defaults have become so dramatic that even USA Today is reporting on it

Get ready to step over some landmines, investors. The number of companies defaulting on their debt is hitting levels not seen since the financial crisis, and it’s not just a problem for bondholders. Continue reading »

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Apr 19

As Olympics Looms, Governor Warns Rio Is “Close To Social Collapse”:

With feces-infested waterways, Zika-carrying mosquitoes, a collapsing economy, and political corruption that runs from top to bottom, Brazil is in trouble. All that excludes now impeached president Dilma Rousseff who refuses to step down, which has cast the country in political limbo.

But just a few short weeks ahead of The Olympics, the people are revolting as Sao Paulo state governor Geraldo Alckmin warns “Rio de Janeiro is close to social collapse” after state payments to retirees have not been made. Of course, none of this matters as long as Ibovespa is soaring and Real is strengthening: Continue reading »

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Apr 18

FYI.


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Apr 18

OK, I Get it, this Junk-Bond Miracle-Rally Is Doomed:

And since stocks follow junk bonds….

Junk bonds started to decline in June 2014, and earlier this year threatened to implode. Contagion was spreading from the collapsing energy sector to the brick-and-mortar retail sector, telecom (Sprint), the media (iHeartMedia), and other sectors. It was really ugly out there. Continue reading »

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