Tag Archives: economic

Economic Collapse Confirmed! $70 Trillion Dollar Dark Cloud Of Debt – Stock Market Crash 2018

The most incredible video of the coming Economic Collapse and the next Great Depression. Today, America is nearly 70 trillion dollars in debt, and that debt is shooting higher at an exponential rate. Usually most of the focus in on the national debt, which is now 21 trillion dollars and rising, but when you total all forms of debt in our society together it comes to a grand total just short of 70 trillion dollars.

Many people seem to believe that the debt imbalances that existed prior to the economic collapse and stock market crash of 2008 have been solved, but that is not the case at all. We are living in the terminal phase of the greatest debt bubble in history and a financial collapse is imminent.

Image result for economic collapse

Each passing day that mountain of debt just keeps on getting bigger and bigger… Top economists predict that within the next 12-18 months, the imminent economic collapse will hit the United States.

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“Italy Is Collapsing…And 5 Star Is Our Last Hope”: How Young Italians Fueled A Populist Uprising

Unlike in the US, where President Trump relies on older Americans for his base of support, more than half (53%) of Italians under 35 voted for one of the two anti-establishment parties that triumphed in Italy’s March election. Their enthusiastic support explains the outpouring of anger directed at technocratic Italian President Sergio Mattarella, who called for new elections as he seemingly reached for every conceivable excuse to try and stop the two parties from forming a government, before finally acquiescing.

Young Italians have grown disillusioned with the center-left – which has clung to a status quo that deliberately favors older workers – even as their counterparts in Greece and Spain have moved even further to the left, with 40% of Spaniards under 35 saying in a recent poll that they favor the far-left Podemos and its allies, while in Greece, 41% of people aged 18 to 24 voted for Syriza in the 2015 election that brought the far-left party to power, according to the Wall Street Journal, which recently published a long-winded feature about the political plight of restive Italian youth.

Italy

Giada Gramanzini, a 29-year-old Italian university graduate who has struggled to find permanent work

Young Italians, like young people in much of the Western developed nations that comprise the EU, are convinced that they will lead lives fraught with economic turbulence, and that few in their generation will manage to achieve the same standard of living that their parents enjoyed. The marriage rate in Italy has fallen by a fifth over the past decade, according to Istat. In 2016, the last year for which data are available, Italian men got married on average at age 35 and women at 32 – two years later than in 2008. Meanwhile, the birth rate in a country that’s viewed as the cradle of conserative Catholicism has fallen to an all-time low.

Chart

Of the many statistics that point to an intractable economic malaise, the youth unemployment rate is particularly troubling: Nearly 30% of Italians aged 20 to 34 aren’t working, studying or enrolled in a training program, according to Eurostat. This comes after the employment rate for Italians under 40 fell every year between 2007 and 2014, before flatlining for three years. That’s higher than any other EU member state – including Greece, which is sporting youth unemployment of 29% – the second highest – as well as Spain’s 21%.

“Italy is collapsing and yet nothing has changed in this country for at least 30 years,” said Carlo Gaetani, a self-employed engineer in Puglia. Ten years ago, when he was in his early 20s, he voted for a center-left party that he hoped would push for economic development in southern Italy. When Italy descended into a crippling recession, he felt betrayed by the traditional Italian left-wing parties. He has seen friends struggle to find jobs, and said his own business opportunities are limited to the stagnant private sector, because commissions for the public sector are usually awarded to people with connections he doesn’t have.

Mr. Gaetani, now 33, voted for 5 Star in the 2013 election, a choice he repeated in March with more conviction. “5 Star is our last hope. If they also fail, I think I’ll stop voting,” he said.

Luckily, the older generation is well-equipped to step in and provide a modicum of financial support, thanks to generous pension benefits that have accrued to older workers. Yet this has done little to assuage the anger of young Italians, as the number of Italians under 34 living in dire poverty (aka those who can’t afford even basic goods and services) has more than doubled in the aftermath of the crisis.

The pain in southern Europe reflects a feeling across much of the Western world that the younger generation will struggle to surpass their parents in wealth and security. Half of Italians who responded last year to an online survey on jobs site Monster.com said they thought they will earn less over their careers than their parents.

Young Italians, who bore the brunt of the country’s protracted, triple-dip recession, still bear the scars that will affect their career prospects, homeownership and birthrates for decades to come.

While they share many similar characteristics, the problems in Italy are fundamentally different than in the US. Perhaps the biggest issue for young people is a labor system where people with open-ended employment contracts enjoy unassailable job security and access to benefits. Meanwhile, younger employees are getting stuck with short-term contracts generally lasting from one month to one year that carry few benefits and make it impossible to plan for the future.

Short

The Italian government introduced these short-term contracts in the 1990s to help young people enter the labor force. Italy recently adopted a revamp of its labor laws, using tax breaks to coax companies into using more open-ended contracts – which allow firms to avoid the great hassle and cost involved in firing employees. But these policies generally haven’t worked, and both the Five Star Movement and the League have capitalized on the anger at existing labor policies by promising to undo the government’s reforms, while Five Star has also advocated giving the poor and unemployed a UBI of 780 euros (roughly $900) a month.

The 5 Star Movement has lured millions of young voters with promises to roll back new labor rules, give the unemployed and poor a so-called universal basic income of €780 ($905) a month, and abolish unpaid apprenticeship contracts. Its leader, Luigi Di Maio, was a 26-year-old university dropout who lived with his parents when he was elected to parliament in 2013. Today, he is a deputy prime minister.

The League attracted a sizable portion of the youth vote by advocating for many of the same anti-establishment policies that Five Star embraced – such as canceling the country’s recent labor reforms – while also calling for deportations of African migrants who have overwhelmed Italy’s borders in recent years.

Italy’s economic problems played into young voters’ sentiments about immigration during the campaign as well, one of the animating drivers of support for the League. “We can’t host all of Africa,” said Gianluca Taburchi, a 23-year old supermarket employee from Perugia who voted for the League. “We already have our own problems. We have lots of unemployment and unsecure jobs.”

Matteo Salvini, the leader of the League who became a deputy prime minister and interior minister in the new government, promised to return hundreds of thousands of migrants to their countries of origin. 5 Star, which straddles the line on many issues, spoke of stemming illegal immigration, but stopped short of calling for mass deportations.

Now that they’ve found their way into power, the future of these euroskeptic parties will depend on whether they keep their promises. Instituting labor-market, welfare and immigration reforms is only one part of the problem. Many younger Italians are deeply distrustful of both the European Union and the euro currency – while many older Italians still view both projects as integral to maintaining a sense of European Unity and lasting peace on the continent.

Conte

Italian Prime Minister Giuseppe Conte, flanked by Five Star Leader Luigi Di Maio and The League leader Matteo Salvini

Both The League and Five Star’s controversial flirtations with abolishing the euro (League leader Matteo Salvini was reportedly photographed wearing a T-shirt reading “Basta euro” – or “enough with the euro – to the chagrin of many older voters) have been popular with their base. But when directly confronted about their stance on leaving the euro, they’ve been noncommittal. The question now is: Will the Five Star and the League allow voters a chance to speak on the possibility of an “Italexit”, as the analysts on Wall Street have taken to calling an Italian departure from the European Union? Or will they stop short of threatening an orthodoxy that a growing number of Italian young people view as the root cause for their economic suffering?

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Top 7 Reasons for Bugging Out from Economic Collapse or Catastrophic Disaster

If you haven’t considered the horrendous consequences of a major catastrophe, you could be one of the first casualties in just the first few weeks or even days that follow.

A look at disasters that have struck third world countries shows how fast and how easily large numbers of people can die when not prepared and when criminals descend on the vulnerable.

Here are 7 reasons why you need a Bug Out Bag

Reason # 1 for Bugging Out

Supplies of food and water — GONE

Food Shortages – All supplies of food and water that come into a metropolitan area have been destroyed. Within hours there are no stores or gas stations open and selling anything. Panicked and desperate crowds of people gather in both the streets and now looted and ransacked shopping districts. Roads and bridges may be out. Buildings and several homes and apartment buildings may be on fire. Around the area cries of sadness can be heard as people mourn lost or dead loved ones. If there are collapsed buildings other cries can be heard, those of people pinned and or partially crushed beneath buildings and other debris.

From street to street, chaos, rubble, fires

I can describe the possible carnage in multiple ways, as the carnage and destruction can be different from street to street and neighborhood to neighborhood. Gas pipes may have ruptured and exploded on one street. Broken water mains or sewer pipes may be flooding the ground up above on another.

Gunshots

Gunfire and even gunfire from automatic weapons may be unfolding elsewhere nearby. But who’s gunning it out with who?

Are Army troops setting up martial law and encountering resistance from local citizens? Are the police or national guard at war with local gangs? Is there an ISIS supporter seeing this disaster as his personal opportunity for Jihad on his neighbors who won’t convert or whom he knows are openly Christian or Jewish?

The police … or a pissed off psychopath in a clown suit

Or is it just a pissed off psychopath with his arsenal of weapons and ammo going berserk because, as far as he can tell, the world is coming to an end. With no belief in God, or belief in Hell, he can do whatever the hell he wants to whoever gets in his way. … The sound of automatic gunfire followed by screams of pain and terror. This shooter is gunning down anyone he can, finally letting out all that anger and disdain for human life he’s been holding in all these years. If he has any disdain for a person of another skin color, well whatever that disdain is they may be his first targets …

Race vs race.

Psychopath on a rampage.

Overzealous government troops in a desperate bid to enforce martial law.

Reason # 2 for Bugging Out

Escape the SHTF Circus of Terror that is Coming to Town

Riots – Everywhere you look, SHTF. In some cities, literally, it’s a circus of terror. But haven’t we seen the signs that this day is coming? Didn’t Jesus warn us in different gospels about a terrible day coming to our planet for unbelievers and those not right with God? He said there would be signs in the heavens and signs in the earth. Maybe, just maybe, one of those signs that are taking place as I write these words has to do with clowns; you know those same clowns headlining the news and social media currently… I’ve studied the Bible’s Revelation many times over the years and my conclusion about Revelation is still the same. Revelation is a circus and it’s God unleashing one judgment after another, including the supernatural and a flood of demons, and a flood of evil and violence and disasters, and anything can happen, and it does.

A serious question we all need to ask ourselves is this: Is Revelation finally at our doorstep?

Panicked and Desperate Mobs with No Food or Water

Where ever you are in the region, one thing is for certain you decide — it’s time to Bug Out before those panicked mobs of people down in the city or just across the railroad tracks on the wrong side of town descend on your safe community or neighborhood just a short distance away.

Waiting for FEMA — But FEMA Never Comes

Most of the mobs may be likely to stay near their homes and apartments the first few days, hoping for relief agencies like FEMA or the Red Cross to fly in supplies from the helicopter and air drops from overhead planes. But if those supplies never come, for the first time in life these panicked mobs are going to experience true hunger.

When that happens, things are going to get desperate for a lot of them. And desperate people are known to do desperate things. Expect several suicides. Expect several to turn to violent crime, and that includes street gangs and those who already employed as career criminals.

With the police spread thin and short-handed, street gangs and career criminals are about to have a hay-day taking whatever they want from whomever they can.

Street gangs are survival predators

Today, street gangs are filled with survivalists, just not the kind you’re thinking of. A lot of these gang members have a predatory survival instinct. In some neighborhoods, every day can be a fight for survival as they compete with other gangs in the area and against other dangerous elements. A lot of these gang members have an eye for spotting an opportunity and preying on any weaknesses they see in another gang or possible drug dealer working that area. They are constantly looking over shoulders for police while at the same time robberies and murder are commonplace in the worst neighborhoods of the biggest cities.

Black Gangs, Mexican Gangs, White Gangs, Asian Gangs

Gang leaders and safe houses can have stocks of weapons and ammunition, purchased with drug and blood money both, and stored away for those times that gangs perceive possible turf wars with other gangs, or simply as a second income stream, as they supply people with guns and ammo both and at a price.

Asian gangs? If a major city near you has a China Town, guess what they also have well armed Asian gangs. Mexican gangs? You don’t have to live near Houston, Dallas, Los Angeles, San Diego, Sacramento, or Denver to have a threat from Mexican gangs. If you live in any kind of region near the Mexican border there’s a good chance that Mexican gangs may cross what will now be an unprotected border and head up into U.S. towns looking for loot or anything else they can get their hands on.

White gangs include one percenter bikers, neo-nazis, Russians who are American citizens (we have Russian gangs in several cities or just low-level Russian mafia) and general white street criminals from major cities and towns across America. They run drug houses, car theft rings, robbery and extortion activities, the list goes on.

Reason # 3 for Bugging Out

Street gangs and mobs descend on outlying communities

Street Gangs – Some gangs may claim areas as their own, and then deplete all supplies within those areas (often taken by force) before moving on to another area to look for more supplies.

Statistically, around the U.S. and other nations, large cities will have countless numbers of gang members and a number of violent criminals as well as those desperate mobs who seek out the “prosperous” and “peaceful” communities just a few miles out. Scattered in that number fleeing major cities will be high-level sex predators … Can anyone guess how a number of these sex predators are going to react to a situation where lawlessness has come to the region; families are separated, parents are missing or maybe dead; children wander the streets lost, confused, looking for help. Police are spread thin or nowhere to be found. God help us …

Should you bug out with your family?

That depends on several things. You may be far enough from population centers where you live currently in an outlying community or distant town and bugging out won’t be as important in the first few weeks or months as it is for someone who lives a lot closer to those desperate mobs of people.

Though even if you are in a relatively safe area, any number of events can take place that may make bugging out essential from day one.

Reason # 5 for Bugging Out

Nukes and or Dirty Bombs

Radioactive Fallout from Dirty Bombs or Nuclear Weapons – For a lot of people, that may be to escape the radioactive fallout from a nuclear weapon that has just decimated a major city within 50-100 miles and now a radioactive cloud is being carried in your direction by the prevailing winds.

Not a lot of people can claim they have a radioactive chemical mask for just such an occasion, yet it is a critical piece of survival gear for residents who live within 100 miles or so of a major city that one day may get nuked. At one time, there weren’t many places in the U.S. to purchase from. But with the growing concern of a nuclear conflict, a lot more are being sold in the U.S. and at reasonable or even low prices. Israel has long lived under a constant threat; a protective mask along these lines is standard fair for citizens (as well as knowing what to do in a nuclear or chemical emergency and access to bomb shelters throughout Israel.

It’s worth mentioning here: We need a lot more bomb shelters in the U.S., though several do exist across the United States often near state or city government buildings; check with your local municipality whether or not your area has a bomb shelter and who has access to it in a nuclear emergency; it might be for local officials only).

 

Should you get a chemical mask rated for nuclear protection?

Chemical masks are already well known in Israel as they live under a constant threat of chemical attack.

But even if years go without any attacks the threat will continue to remain. One day it might happen; it might happen to us as well. Better to have a protective gas mask close by and even in the trunk of your vehicle ‘just in case.’

Terrorist bombs major university; chemical weapons

This goes for students and teachers also. A small chemical bomb is an easy way for a homegrown terrorist to attack a local university. Police stations, government buildings, nightclubs, business districts, sporting events, and shopping malls are also at high risk for chemical bombs — or any kind of bombs for that matter.

I’m not talking about military scale bombs. The small-scale bombs I’m referring to are much easier to build and scatter around a local region. (I may have received good information that this is going to be a common danger in the months ahead; people are going to die; in other words, it’s going to start happening, and then continue to happen.)

Reason # 6 for Bugging Out

What if a nearby dam is destroyed?

An attack on Dams and Water Supplies – For others forced to bug out, it could be a dam that is destroyed a few miles away that is now flooding the entire valley where you live, sending hundreds of thousands of people on a sudden evacuation into the countryside and toward higher ground. Your city, shopping malls, and schools are suddenly gone — buried under flood waters.

Could a dam really be destroyed? That just depends on the size of the bomb and the desire of a terrorist or attacking government to inflict terror and mass casualties. Several dams could already be pinpointed on an attacker’s maps of cites to destroy in the first wave of an attack; several water reservoirs may have been poisoned by any number of highly toxic chemicals (though risk of this is said to be minimal — nothing is for sure though; what if the water is poisoned at a local treatment plant where a homegrown terrorist works full time?).

Some nukes can be delivered by truck or van

While some nukes could be small enough to fit in a vehicle (after being smuggled into the U.S.) and then driven to a major city and detonated (one of the Pentagon’s current fears), others may have been fired from a small boat or cargo ship offshore (one of New York City’s current fears and something that the Coast Guard is constantly monitoring for).

Nuclear danger from international flights

An even easier way to get a nuke into the U.S.? How about arming “China Air” with a nuclear bomb before it ever leaves China on a routine international flight and then finally detonating that bomb just as the airline is on its final approach and descending toward Los Angeles International Airport. In just a few seconds and a blinding flash of light:

Los Angeles … gone forever.

More nukes are streaking across the sky fired from missiles just off U.S. shores

Several nuclear-tipped missiles may shortly after streaking across the sky toward several destinations across the U.S., those near the coast will be the first destroyed.

Major dams … power plants … military bases … government buildings … business districts… possibly even toward the head offices for FEMA and Homeland Security. (If you want to make sure the U.S. doesn’t recover from a nuclear attack, don’t just bomb major cities — bomb our critical infrastructure and emergency responders.)

The more thorough an attacking enemy is with their plans, the more they can ensure that the United States of America never recovers.

That realization makes it that much more likely that the first wave of an attack will be more than just a first wave — it’s likely to seem like a flood. It will be catastrophic.

Expect disasters on a Biblical scale

Jesus said in Matthew 24: “As it was in the days of Noah, so it will be at the coming of the Son of Man…” But then in the Book of Peter, further in the Bible, we’re told “the end will come like a flood” and also told that the end judgments are reserved for “fire.” So it won’t be another flood of water that God uses to judge the world; we can expect something different. It’s going to be big. It’s going to be bad. It’s going to be ugly. Important questions are answered along the way: For example: Why is God going to judge the world for its evils? And … is there any way to escape it? (Yes, there is. Click on the link to learn how to get your life right with God today — before all Hell breaks loose. Because it’s coming. The time is short.)

Reason # 7 for Bugging Out

Bugging out may not be a choice — if you stay, you die

Get Out of Dodge – When it comes to bugging out (or bugging in, which basically means to “shelter in place”), the fact of the matter is this: Even if you could win a reward for “prepper” of the year, anything could happen that forces you to flee your home and preps and escape on a bug out into the hills or nearby wilderness. A sudden evacuation may be a matter of life or death — or imprisonment in a concentration camp of some sort run by some new governing power in the area.

In this case, it’s just you, your bug out bag, a good pair of boots, for a lot of people that includes firearms, along with everything you managed to pack into your backpack. If you have a family, they better have their bug out bags packed as well.

 

 

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Declining Economic Conditions Will Likely Make Society Turn In On Itself Even More Causing Suffering And Loss Of Life

It has been said that history may not repeat but it sometimes rhymes. Just as the generals always seen to fight the last war people seem to prepare for the last depression. Times change and the mechanism that leads to misfortune changes with it. Looking at the past may not give us the clear answer to how to deal with the future but it can help us to determine what might happen and how to deal with it when the time comes.

We always look at the last incident because that is what we know. The problem is that social and economic conditions are always changing and they have a major impact on how things unfold. When people hear that they should prepare for another great depression they immediately think about how people survived the last one and how events unfolded. That is a good starting point but things will not be exactly the same the next time.

In the 1930’s people did not posses specialized skills, they had general knowledge that allowed them to take any job that was available. Today people are skilled in one area and loss of employment in that area requires them to obtain skills to work in a new area. The jack of all trades has been replaced by the specialist so when job loss comes they have a more difficult time finding a new one.

In the 1930’s we had a deflationary depression and anyone holding cash and bonds were able to hold on to their wealth and banks were allowed to fail. The farmers suffered from a drop in commodity prices but taxes were low and most people that had land owned it free and clear allowing them to stay in place. Today we are more likely to have an inflationary depression due to the mandate to save the banks at all costs. Anyone trying to save their wealth in cash and bonds will get slaughtered in the paper assets they hold due to massive money printing.

In the 1930’s most people lived in rural areas and people worked to help their neighbors in difficult times. Most people had the skills to take care of themselves and their families until things got better. Today most people live in urban and suburban areas and society has been fragmented into militant groups that cannot work together even in good times. Declining economic conditions will likely make society turn in on itself even more causing suffering and loss of life. Most people have no idea how to care for themselves if the system breaks down.

 

In the 1930’s people were forced to find new employment due to job loss because there were no social safety nets to provide for them. In difficult times they were forced to look to family, friends and the church for help but most people felt they had failed if they asked for help. Today people losing a job have unemployment, welfare, food stamps and dozens of other services to provide for them if they have no job. Many have come to rely on these services and expect the government to provide for them as long as necessary. If these services ever end it will trigger a violent response by certain segments of society.

In the 1930’s a man out of work could sell apples on the street corner for a nickel to make money to support himself. In a future depression environment anyone attempting to make some money may be selling apples for five dollars each and will likely be arrested for vending without a license. Another difference today is that most people do not want to get their hands dirty so they will opt for government assistance rather than hard work.

When people lost jobs in the 1930’s they could look for many different types of jobs they could do and they were able to negotiate pay with business owners to get the job. The large number of unemployed allowed businesses to negotiate lower wages that allowed them to stay in business. Today minimum wage laws prevent business owners from cutting wages to stay in business which will cause business closures in difficult times. The closing of businesses is a self reinforcing loop that puts more and more people out of work as time goes on.

In the 1930’s the monetary system not only survived but cash was worth even more. The next depression will likely see the monetary system collapse and cash become worthless. This will likely lead to the creation of local currencies and barter among individuals. The attempt by bankers and governments to create new fiat currencies will likely be rejected to a large degree.

In the 1930’s most properties were owned by people that utilized the land themselves. The investor mentality of today will see the mortgage market collapse and the investors buying properties to flip lose it all. Some experts expect to see a 75% to 90% drop in land prices in the coming years.

Many of the things that allowed people to get through the last great depression will not save them this time. Social and economic conditions have changed and different methods will be required to get through the depression we are now entering. Where once cash and bonds were a safe haven gold and silver will, be now. The ability to negotiate wages is gone and wage laws will insure massive closings of businesses forcing people to become self employed to avoid the wage laws. Overall the standard of living will drop dramatically and most people today will not be prepared to accept it.

There are some things that are likely to be the same as before. Those who need help will once again need to turn to family and friends for help. Those that own land free and clear will be able to keep a roof over their head. Those that can supply their own needs will make out better than those dependant on others. Those with multiple job skills will make out better than those with no job skills. Those that can produce a product to sell will make out better than those in the service industry.

In order to learn from the past you must look at current trends and extrapolate where we are headed from here. It is not an exact science but those that pay attention to details will likely fare better than those that go blindly along their daily lives expecting things to always be the same.

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The brief encounter with a ‘recovery’ that China’s economic data enjoyed in the first half of 2017 has evaporated as the reality of a collapsing credit impulse strikes across the board. Retail Sales, Fixed Asset Investment, and Industrial Production all missed expectations  and slowed dramatically.

Tonight’s big China data dump to ignore includes:

  • Retail Sales +10.1% YoY (+10.5% exp), well below July’s 10.4% gain
  • Fixed Asset Investment +7.8% YoY (+8.2% exp), well below July’s 8.3% rise
  • Industrial Production +6.0% YoY (+6.6% exp), drastically weaker than July’s 6.4% gain

The first half bounce is officially dead…

 

China’s macro data disappointments are just beginning…

 

In fact China’s credit impulse is the worst in the world…

Yuan continues to tumble (3rd day in a row of weaker fix)…

Is China back in the currency war game now that credit is no longer holding up the economy?

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The Economic Crash Has Started – Run From the Dollar – Charles Thorngren

What is wrong with the gold market is that the Rothschilds and Goldman Sachs are buying up as much gold as they can.

  1. Retail is collapsing
  2. $1.5 Quadrillion credit swap derivatives debt
  3. $240 trillion unfunded mandated liabilities debt (eg Social Security, medicare, medicaid).
  4. $200 trillion credit card debt
  5. The car loan bubble
  6. The new housing bubble
  7. Automation replacing jobs at record rates

The US government only takes in about $2 trillion per year. The crash has started in the retail sector.  It will soon consume the country like a stage 4 cancer.

The following video analyzes these factors and suggests a counter strategy.

 

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The Market Crash Begins! Imminent Economic Collapse – 30 Things You Should Do (Video)

Today, millions of Americans say that they believe that the United States is on the verge of a major economic collapse and will soon be entering another big stock market crash and Great Depression. But only a small percentage of those same people are prepared for that to happen.  The sad truth is that the vast majority of Americans would last little more than a month on what they have stored up in their homes.

Most of us are so used to running out to the supermarket or to Wall-Mart for whatever we need that we never even stop to consider what would happen if suddenly we were not able to do that when the economic collapse happen. Experts predict that the stock market crash will happen in this year and the economic collapse 2017 is inevitable.

When the economic collapse and stock market crash occurs, it will happen quickly. No one will predict it. That’s because the signs of the economic collapse are difficult to see.

For example, the U.S. economic collapse and stock market crash happened on September 17, 2008. That’s the day panicked investors withdrew a record $140 billion from money market accounts.  That’s where businesses keep the cash to fund day-to-day operations. If withdrawals had gone on for even a week, the entire economy would have halted.

If the economy collapses, you will not have access to credit.

Banks will close. That means high demand, and low supply, of food, gas and other necessities. If the economic collapse affects local governments and utilities, then water and electricity will no longer be available…
The Economic Doomsday is here. The second financial bubble is going to soon burst, and there’s nothing anyone can do about it. The Federal Reserve has set up the American economy for financial collapse for printing trillions of dollars back in 2008 and 2009.

The Federal Reserve’s policies of printing trillions of dollars back in ’08-09 have locked into place a serious financial crisis at some point in our future. Going so far as to intimate the financial collapse and market crash will occur at least some time in the next two years, “It’s unavoidable, and even Donald Trump can’t stop it.
Top economists predict that within the next 18-24 months, the imminent economic collapse will happen. The Federal Reserve has set up the American economy for financial collapse and market crash for printing trillions of dollars back in 2008 and 2009.

The Federal Reserve’s policies of printing trillions of dollars back in ’08-09 have locked into place a serious financial crisis….

 

Check out more contributions by Jeffery Pritchett ranging from UFO to Bigfoot to Paranormal to Prophecy

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China’s economic miracle has an ugly underbelly

1987

2013

In 1978, the land east of the river that runs through downtown Shanghai was a patchwork of marshy rice paddies and drab warehouses. Less than 40 years later, the area had transformed into a sci-fi inspired landscape of skyscrapers and neon lights that Hollywood now uses as a set for cities of the future.

All around China, cities have undergone similarly stunning transformations the country changed from a poor, underdeveloped nation to one of the world’s leading economies. By building factories, roads, apartments and global brands, the country has created a massive amount of wealth — and a massive amount of inequality.

In just a few decades, China went from a place in which nearly everyone was equally poor to one of sharp divisions between social classes.

But the extent of China’s inequality has not been well understood — until perhaps now. In a new paper, a group of noted economists offer some of the most definitive estimates of inequality in China between 1978, the year the country began to crack open a long-closed door to the global economy, and 2015.

The researchers — Thomas Piketty and Li Yang of the Paris School of Economics and Gabriel Zucman of the University of California, Berkeley — find that China transformed from a relatively egalitarian place in the late 1970s, with levels of inequality similar to those found in Nordic countries today. It has changed into a society more closely approximating the United States, though China has not quite reached U.S. levels of inequality yet. Their work highlights the mixed blessings of China’s economic growth.

According to their research, the highest-earning 10 percent of China’s population had 41 percent of national income in 2015, up from 27 percent in 1978. Meanwhile, the income share of the bottom half dropped to 15 percent in 2015 from 27 percent in 1978.

That’s higher than what the bottom half earn in the United States — about 12 percent of income — but lower than the 22 percent seen in France, the economists say. “For the time being, China’s development model appears to be more egalitarian than that of the United States, and less than Europe’s,” they write.

Gathering data on inequality has always been difficult in China, because of the tendency for the wealthiest people to underreport their earnings and dodge taxes. To create a more complete picture of Chinese wealth than had been accessible before, the economists cobbled together data from various sources, including national accounts, which measure the amount of wealth going into and leaving a country, surveys, government tax records and magazine wealth rankings.

It’s a familiar approach for Piketty, the French economist who is one of the world’s defining voices on inequality. His 2013 book “Capital in the 21st Century” used historical series to explore inequality in France, the United Kingdom, the United States and elsewhere. It showed that wealth and inequality compound powerfully as they are passed on to future generations, unless government or outside events intervene.

Piketty is the most famous name on the project, but his work in compiling rigorous historical data on inequality has depended on dozens of researchers working together in countries around the world. Together they have highlighted how rising inequality in past decades is causing income and wealth to skyrocket not just for the top 1 percent, but the top .1 and .01 percent of society.

China has undergone a particularly stunning transformation. China now makes up around one-fifth of the world economy — which makes sense, since it has about one-fifth of the world’s people. But what’s striking is just how poor the country was before. In 1978, when it had 23 percent of the world’s population, the country made up less than 3 percent of global GDP.

At that time, China was a communist country paralyzed by the chaotic policies of Mao Zedong. In the countryside, most people worked as subsistence farmers. In the cities, many worked for state-owned companies that produced little but issued a small, reliable paycheck — lifetime jobs that Chinese called “iron rice bowls,” because they would always provide a meal.

This was the kind of job held by the parents of one of the researchers, Yang. When he was growing up, his parents worked for a state-owned train company in Baotou, Inner Mongolia, on a dusty high plain northwest of Beijing. His parents’ pay was not very high, but their jobs were extremely stable.

The following decades brought dramatic change to China. Many state-owned companies closed their doors as private enterprises cropped up, and with them much more lucrative earning opportunities.

Much of the increase in wealth and inequality came through the housing system, Yang says. In the 1980s, many Chinese lived in government-owned housing, but in the 1990s, the government started selling these homes to their residents for relatively low prices. Real estate prices skyrocketed in subsequent decades, meaning those who invested in housing earlier ended up much wealthier than those who did not.

Today, more than 95 percent of the housing stock is privately owned in China, up from about half in 1978, the researchers say.

In contrast, Chinese companies are still substantially state-owned — much more than other Western countries today. The percentage of corporate shares owned by the government steadily dropped until 2006, but it started to trend upward again with the financial crisis. In 2015, it was about 60 percent.

“In brief: China has moved a long way toward private property between 1978 and 2015, but the property regime of the country is still very different than in other parts of the world,” the researchers write. “China has ceased to be communist, but is not entirely capitalist; it should rather be viewed as a “mixed economy” with a strong public ownership component.”

In the United States, those on the bottom of the income spectrum have seen their incomes stagnate, even as those at the top continue to grow. That’s not the case for China, where nearly everyone today is earning more than they did. Between 1978 and 2015, the researchers say, average national income per adult grew by 59 percent in the U.S. and 39 percent in France. It grew by more than 811 percent in China.

“The income of the poor people is also increasing quite significantly, just not as fast as the rich people,” Yang says.

Even so, those increases in wealth have not been evenly distributed. That’s been a particular shock in China, where things were relatively equal not so long ago.

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