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» 12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is here #recession #economy

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" 12 Things That Just Happened That Show The Next Wave OfThe Economic Collapse Is Almost Here Alex Jones' Infowars: There'sa war on for your mind!

Michael Snyder
Economic Collapse
March 4, 2013

Are we running out of time? For the last several years, wehave been living in a false bubble of hope that has been fueled bymassive amounts of debt and bailout money. This illusion ofeconomic stability has convinced most people that the greateconomic crisis of 2008 was just an "aberration" and that nowthings are back to normal. Unfortunately, that is not thecase at all. The truth is that the financial crash of 2008was just the first wave of our economic troubles. We have noteven come close to recovering from that wave, and the next wave ofthe economic collapse is rapidly approaching. Our economy islike a giant sand castle that has been built on a foundation ofdebt and toilet paper currency. As each wave of the crisishits us, the solutions that our leaders will present to us willinvolve even more debt and even more money printing. And eachtime, those "solutions" will only make our problems evenworse. Right now, events are unfolding in Europe and in theUnited States that are pushing us toward the next major crisismoment. I sincerely hope that we have some more time beforethe next crisis overwhelms us, but as you will see, time is rapidlyrunning out.

The following are 12 things that just happened that show thenext wave of the economic collapse is almost here…

#1 According to TrimTab's CEO Charles Biderman, corporateinsider purchases of stock have hit an all-time low, and the ratioof corporate insider selling to corporate insider buying has nowreached an astounding 50 to 1….

While retail is being told to buy-buy-buy, Biderman exclaimsthat "insiders at U.S. companies have bought the least amount ofshares in any one month," and that the ratio ofinsider selling to buying is now 50-to-1 – a monthlyrecord.

#2 On Friday we learned that personal income inthe United States experienced its largest one monthdecline in 20 years

Personal income decreased by $505.5 billion in January, or 3.6%,compared to December (on a seasonally adjusted and annualizedbasis). That's the most dramatic decline since January 1993,according to the Commerce Department.

#3 In a stunning move, Michigan Governor RickSnyder says that he will appoint an emergency financial manager to take care ofDetroit's financial affairs…

Snyder, 54, took a step he avoided a year ago, empowering anemergency financial manager who can sweep aside union contracts,sell municipal assets, restructure services and reorder finances.He announced the move yesterday at a public meeting in Detroit.

If this does not work, Detroitwill almost certainly have to declare bankruptcy. If thathappens, it will be the largest municipal bankruptcy in U.S.history.

#4 On Friday it was announced that theunemployment rate in Italy had risen to 11.7 percent. That was a huge jump from 11.3percent the previous month, and Italy now has the highestunemployment rate that it has experienced in 21 years.

#5 The youth unemployment rate in Italy hasrisen to a new all-time record high of 38.7percent.

#6 On Friday it was announced that theunemployment rate in the eurozone as a whole had just hit a brandnew record high of 11.9 percent.

#7 On Friday it was announced that theunemployment rate in Greece has now reached 27 percent, and it is being projected that it willreach 30 percent by the end of the year.

#8 The youth unemployment rate in Greece is nowan almost unbelievable 59.4 percent.

#9 On Saturday, hundreds of thousands of protesters filled thestreets of Lisbon and other Portuguese cities to protest theausterity measures that are being imposed upon them. It wasreportedly the largest protest in the history of Portugal.

#10 According to Goldman Sachs, bank depositsdeclined all over Europe during the month ofJanuary.

#11 Over the weekend, the deputy governor ofChina's central bank declared that China is prepared for a"currency war"…

A top Chinese banker said Beijing is "fully prepared" for acurrency war as he urged the world to abide by a consensus reachedby the G20 to avert confrontation, state media reported onSaturday.

Yi Gang, deputy governor of China's central bank, issued thecall after G20 finance ministers last month moved to calm fears ofa looming war on the currency markets at a meeting in Moscow.

Those fears have largely been fuelled by the recent steepdecline in the Japanese yen, which critics have accused Tokyo ofmanipulating to give its manufacturers a competitive edge in keyexport markets over Asian rivals.

#12 Italy is aneconomic basket case at this point, and the political gridlockin Italy is certainly not helping matters. Former comedianBeppe Grillo's party could potentially tip the balance of power oneway or the other in Italy, and over the weekend he made some comments that arereally shaking things up over in Europe. For one thing, he issuggesting that Italy should hold a referendum on the euro…

"I am a strong advocate of Europe. I am in favor of an onlinereferendum on the euro," Beppe Grillo told Bild am Sonntag.

Such a vote would not be legally binding in Italy, wherereferendums can only be used to repeal laws or parts of laws, butwould carry political weight. Grillo has said in the past thatmembership of the euro should be up to the Italian people.

In addition, Grillo is also suggesting that Italy's debt hasgotten so large that renegotiation is the only option…

In an interview with a German magazine published on Saturday, MrGrillo said that "if conditions do not change" Italy "will want" toleave the euro and return to its former national currency.

The 64-year-old comic-turned-political activist also said Italyneeds to renegotiate its €2 trillion debt.

At 127 per cent of gross domestic product (GDP), it is thehighest in the euro zone after Greece.

"Right now we are being crushed, not by the euro, but by ourdebt. When the interest payments reach €100 billion a year, we'redead. There's no alternative," he told Focus, a weekly newsmagazine.

He said Italy was in such dire economic straits that "in sixmonths, we will no longer be able to pay pensions and the wages ofpublic employees."

And of course government debt has taken center stage in theUnited States as well.

The sequester cuts have now gone into effect, and they willdefinitely have an effect on the U.S. economy. Of course thateffect will not be nearly as dramatic asmany Democrats are suggesting, but without a doubt those cutswill cause the U.S. economy to slow down a bit.

And of course the U.S. economy has already been showing plentyof signs of slowing down lately. If you doubt this, pleasesee my previous article entitled "ConsumerSpending Drought: 16 Signs That The Middle Class Is Running Out OfMoney".

So what comes next?

Well, everyone should keep watching Europe very closely, and itwill also be important to keep an eye on Wall Street. Thereare a whole bunch of indications that the stock market is at ornear a peak. For example, just check out what one prominentstock market analyst recently had to say

"Every reliable technical tool is warning of major peakingaction," said Walter Zimmerman, the senior technical analyst atUnited-ICAP. "This includes sentiment, momentum, classical chartpatterns, and Elliott wave analysis.

"Most of the rally in the stock market since 2009 can be chalkedup to the Federal Reserve's attempt to create a 'wealth effect'through higher stock market prices. This only exacerbates thedownside risk. Why? The stock market no is longer a lead indicatorfor the economy. It is instead reflecting Fed manipulation.Pushing the stock market higher while the real economy languisheshas resulted in another bubble.

"The next leg down will not be a partial correction of theadvance since the 2009 lows. It will be another major financialcrisis. The worst is yet to come."

Sadly, most people will continue to deny that anything is wronguntil it is far too late.

Many areas of Europeare already experiencing economicdepression, and it is only a matter of time before the U.S.follows suit.

Time is running out, and I hope that you are getting ready.

So what do you think?

How much time do you believe that we have left before the nextwave of the economic collapse strikes?

Please feel free to post a comment with your thoughts below…

- See more at:http://theeconomiccollapseblog.com/archives/12-things-that-just-happened-that-show-the-next-wave-of-the-economic-collapse-is-almost-here#sthash.QNMxFglB.dpuf

This article was posted:Monday, March 4, 2013 at 5:24 am



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Michael Snyder
Economic Collapse
March 4, 2013

Are we running out of time? For the last several years, wehave been living in a false bubble of hope that has been fueled bymassive amounts of debt and bailout money. This illusion ofeconomic stability has convinced most people that the greateconomic crisis of 2008 was just an "aberration" and that nowthings are back to normal. Unfortunately, that is not thecase at all. The truth is that the financial crash of 2008was just the first wave of our economic troubles. We have noteven come close to recovering from that wave, and the next wave ofthe economic collapse is rapidly approaching. Our economy islike a giant sand castle that has been built on a foundation ofdebt and toilet paper currency. As each wave of the crisishits us, the solutions that our leaders will present to us willinvolve even more debt and even more money printing. And eachtime, those "solutions" will only make our problems evenworse. Right now, events are unfolding in Europe and in theUnited States that are pushing us toward the next major crisismoment. I sincerely hope that we have some more time beforethe next crisis overwhelms us, but as you will see, time is rapidlyrunning out.

The following are 12 things that just happened that show thenext wave of the economic collapse is almost here…

#1 According to TrimTab's CEO Charles Biderman, corporateinsider purchases of stock have hit an all-time low, and the ratioof corporate insider selling to corporate insider buying has nowreached an astounding 50 to 1….

While retail is being told to buy-buy-buy, Biderman exclaimsthat "insiders at U.S. companies have bought the least amount ofshares in any one month," and that the ratio ofinsider selling to buying is now 50-to-1 – a monthlyrecord.

#2 On Friday we learned that personal income inthe United States experienced its largest one monthdecline in 20 years

Personal income decreased by $505.5 billion in January, or 3.6%,compared to December (on a seasonally adjusted and annualizedbasis). That's the most dramatic decline since January 1993,according to the Commerce Department.

#3 In a stunning move, Michigan Governor RickSnyder says that he will appoint an emergency financial manager to take care ofDetroit's financial affairs…

Snyder, 54, took a step he avoided a year ago, empowering anemergency financial manager who can sweep aside union contracts,sell municipal assets, restructure services and reorder finances.He announced the move yesterday at a public meeting in Detroit.

If this does not work, Detroitwill almost certainly have to declare bankruptcy. If thathappens, it will be the largest municipal bankruptcy in U.S.history.

#4 On Friday it was announced that theunemployment rate in Italy had risen to 11.7 percent. That was a huge jump from 11.3percent the previous month, and Italy now has the highestunemployment rate that it has experienced in 21 years.

#5 The youth unemployment rate in Italy hasrisen to a new all-time record high of 38.7percent.

#6 On Friday it was announced that theunemployment rate in the eurozone as a whole had just hit a brandnew record high of 11.9 percent.

#7 On Friday it was announced that theunemployment rate in Greece has now reached 27 percent, and it is being projected that it willreach 30 percent by the end of the year.

#8 The youth unemployment rate in Greece is nowan almost unbelievable 59.4 percent.

#9 On Saturday, hundreds of thousands of protesters filled thestreets of Lisbon and other Portuguese cities to protest theausterity measures that are being imposed upon them. It wasreportedly the largest protest in the history of Portugal.

#10 According to Goldman Sachs, bank depositsdeclined all over Europe during the month ofJanuary.

#11 Over the weekend, the deputy governor ofChina's central bank declared that China is prepared for a"currency war"…

A top Chinese banker said Beijing is "fully prepared" for acurrency war as he urged the world to abide by a consensus reachedby the G20 to avert confrontation, state media reported onSaturday.

Yi Gang, deputy governor of China's central bank, issued thecall after G20 finance ministers last month moved to calm fears ofa looming war on the currency markets at a meeting in Moscow.

Those fears have largely been fuelled by the recent steepdecline in the Japanese yen, which critics have accused Tokyo ofmanipulating to give its manufacturers a competitive edge in keyexport markets over Asian rivals.

#12 Italy is aneconomic basket case at this point, and the political gridlockin Italy is certainly not helping matters. Former comedianBeppe Grillo's party could potentially tip the balance of power oneway or the other in Italy, and over the weekend he made some comments that arereally shaking things up over in Europe. For one thing, he issuggesting that Italy should hold a referendum on the euro…

"I am a strong advocate of Europe. I am in favor of an onlinereferendum on the euro," Beppe Grillo told Bild am Sonntag.

Such a vote would not be legally binding in Italy, wherereferendums can only be used to repeal laws or parts of laws, butwould carry political weight. Grillo has said in the past thatmembership of the euro should be up to the Italian people.

In addition, Grillo is also suggesting that Italy's debt hasgotten so large that renegotiation is the only option…

In an interview with a German magazine published on Saturday, MrGrillo said that "if conditions do not change" Italy "will want" toleave the euro and return to its former national currency.

The 64-year-old comic-turned-political activist also said Italyneeds to renegotiate its €2 trillion debt.

At 127 per cent of gross domestic product (GDP), it is thehighest in the euro zone after Greece.

"Right now we are being crushed, not by the euro, but by ourdebt. When the interest payments reach €100 billion a year, we'redead. There's no alternative," he told Focus, a weekly newsmagazine.

He said Italy was in such dire economic straits that "in sixmonths, we will no longer be able to pay pensions and the wages ofpublic employees."

And of course government debt has taken center stage in theUnited States as well.

The sequester cuts have now gone into effect, and they willdefinitely have an effect on the U.S. economy. Of course thateffect will not be nearly as dramatic asmany Democrats are suggesting, but without a doubt those cutswill cause the U.S. economy to slow down a bit.

And of course the U.S. economy has already been showing plentyof signs of slowing down lately. If you doubt this, pleasesee my previous article entitled "ConsumerSpending Drought: 16 Signs That The Middle Class Is Running Out OfMoney".

So what comes next?

Well, everyone should keep watching Europe very closely, and itwill also be important to keep an eye on Wall Street. Thereare a whole bunch of indications that the stock market is at ornear a peak. For example, just check out what one prominentstock market analyst recently had to say

"Every reliable technical tool is warning of major peakingaction," said Walter Zimmerman, the senior technical analyst atUnited-ICAP. "This includes sentiment, momentum, classical chartpatterns, and Elliott wave analysis.

"Most of the rally in the stock market since 2009 can be chalkedup to the Federal Reserve's attempt to create a 'wealth effect'through higher stock market prices. This only exacerbates thedownside risk. Why? The stock market no is longer a lead indicatorfor the economy. It is instead reflecting Fed manipulation.Pushing the stock market higher while the real economy languisheshas resulted in another bubble.

"The next leg down will not be a partial correction of theadvance since the 2009 lows. It will be another major financialcrisis. The worst is yet to come."

Sadly, most people will continue to deny that anything is wronguntil it is far too late.

Many areas of Europeare already experiencing economicdepression, and it is only a matter of time before the U.S.follows suit.

Time is running out, and I hope that you are getting ready.

So what do you think?

How much time do you believe that we have left before the nextwave of the economic collapse strikes?

Please feel free to post a comment with your thoughts below…

- See more at:http://theeconomiccollapseblog.com/archives/12-things-that-just-happened-that-show-the-next-wave-of-the-economic-collapse-is-almost-here#sthash.QNMxFglB.dpuf

This article was posted:Monday, March 4, 2013 at 5:24 am



Print this page.




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