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old steel
6th March 2013, 11:33 PM
The following are 12 things that just happened that show the next wave of the economic collapse is almost here...
#1 According to TrimTab's CEO Charles Biderman (http://www.zerohedge.com/news/2013-03-01/insider-selling-buying-hits-record-biderman-welcomes-new-recession), corporate insider purchases of stock have hit an all-time low, and the ratio of corporate insider selling to corporate insider buying has now reached an astounding 50 to 1....

While retail is being told to buy-buy-buy, Biderman exclaims that "insiders at U.S. companies have bought the least amount of shares in any one month," and that the ratio of insider selling to buying is now 50-to-1 - a monthly record.
#2 On Friday we learned that personal income in the United States experienced its largest one month decline in 20 years (http://money.cnn.com/2013/03/01/news/economy/income-spending-saving/)...

Personal income decreased by $505.5 billion in January, or 3.6%, compared to December (on a seasonally adjusted and annualized basis). That's the most dramatic decline since January 1993, according to the Commerce Department.
#3 In a stunning move, Michigan Governor Rick Snyder says that he will appoint an emergency financial manager (http://www.bloomberg.com/news/2013-03-01/snyder-says-detroit-needs-emergency-manager-to-end-fiscal-crisis.html?alcmpid=breakingnews) to take care of Detroit's financial affairs...

Snyder, 54, took a step he avoided a year ago, empowering an emergency 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, Detroit (http://theeconomiccollapseblog.com/archives/tag/detroit) will almost certainly have to declare bankruptcy. If that happens, it will be the largest municipal bankruptcy in U.S. history.
#4 On Friday it was announced that the unemployment rate in Italy had risen to 11.7 percent (http://www.cnbc.com/id/100510658). That was a huge jump from 11.3 percent the previous month, and Italy now has the highest unemployment rate that it has experienced in 21 years.
#5 The youth unemployment rate in Italy has risen to a new all-time record high of 38.7 percent (http://www.cnbc.com/id/100510658).
#6 On Friday it was announced that the unemployment rate in the eurozone as a whole had just hit a brand new record high of 11.9 percent (http://www.bbc.co.uk/news/business-21627623?print=true).
#7 On Friday it was announced that the unemployment rate in Greece has now reached 27 percent (http://www.bbc.co.uk/news/business-21627623?print=true), and it is being projected that it will reach 30 percent (http://news.yahoo.com/greeces-weakened-workforce-starts-crack-073509752--finance.html)by the end of the year.
#8 The youth unemployment rate in Greece is now an almost unbelievable 59.4 percent (http://www.zerohedge.com/news/2013-03-01/europes-scariest-chart-update-italy-now-worse-portugal).
#9 On Saturday, hundreds of thousands of protesters (http://www.france24.com/en/20130302-hundreds-thousands-march-against-austerity-portugal-0) filled the streets of Lisbon and other Portuguese cities to protest the austerity measures that are being imposed upon them. It was reportedly the largest protest in the history of Portugal.
#10 According to Goldman Sachs, bank deposits declined all over Europe (http://www.zerohedge.com/news/2013-02-27/bank-deposits-decline-across-europe-january) during the month of January.
#11 Over the weekend, the deputy governor of China's central bank declared that China is prepared for a "currency war (http://www.france24.com/en/20130302-china-fully-prepared-currency-war-banker-0)"...

A top Chinese banker said Beijing is "fully prepared" for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.
Yi Gang, deputy governor of China's central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow.
Those fears have largely been fuelled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals.
#12 Italy is an economic basket case (http://theeconomiccollapseblog.com/archives/will-italy-be-the-spark-that-sets-off-financial-armageddon-in-europe) at this point, and the political gridlock in Italy is certainly not helping matters. Former comedian Beppe Grillo's party could potentially tip the balance of power one way or the other in Italy, and over the weekend (http://www.reuters.com/article/2013/03/03/us-italy-vote-grillo-idUSBRE92205720130303) he made some comments that are really shaking things up over in Europe. For one thing, he is suggesting that Italy should hold a referendum on the euro...

"I am a strong advocate of Europe. I am in favor of an online referendum on the euro," Beppe Grillo told Bild am Sonntag.
Such a vote would not be legally binding in Italy, where referendums can only be used to repeal laws or parts of laws, but would carry political weight. Grillo has said in the past that membership of the euro should be up to the Italian people.
In addition, Grillo is also suggesting that Italy's debt has gotten so large that renegotiation (http://www.telegraph.co.uk/news/worldnews/europe/italy/9904270/Beppe-Grillo-says-Italy-may-soon-have-to-pull-out-of-euro.html) is the only option...

In an interview with a German magazine published on Saturday, Mr Grillo said that “if conditions do not change” Italy “will want” to leave the euro and return to its former national currency.


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

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


“Right now we are being crushed, not by the euro, but by our debt. When the interest payments reach €100 billion a year, we’re dead. There’s no alternative,” he told Focus, a weekly news magazine.
He said Italy was in such dire economic straits that “in six months, we will no longer be able to pay pensions and the wages of public employees.”
And of course government debt has taken center stage in the United States as well.
The sequester cuts have now gone into effect, and they will definitely have an effect on the U.S. economy. Of course that effect will not be nearly as dramatic as many Democrats are suggesting (http://theeconomiccollapseblog.com/archives/all-of-this-whining-and-crying-about-the-sequester-shows-why-america-is-doomed), but without a doubt those cuts will cause the U.S. economy to slow down a bit.
And of course the U.S. economy has already been showing plenty of signs of slowing down lately. If you doubt this, please see my previous article entitled "Consumer Spending Drought: 16 Signs That The Middle Class Is Running Out Of Money (http://theeconomiccollapseblog.com/archives/consumer-spending-drought-16-signs-that-the-middle-class-is-running-out-of-money)".
So what comes next?
Well, everyone should keep watching Europe very closely, and it will also be important to keep an eye on Wall Street. There are a whole bunch of indications that the stock market is at or near a peak. For example, just check out what one prominent stock market analyst recently had to say (http://www.businessinsider.com/walter-zimmerman-warns-of-financial-crisis-2013-2)...

"Every reliable technical tool is warning of major peaking action," said Walter Zimmerman, the senior technical analyst at United-ICAP. "This includes sentiment, momentum, classical chart patterns, and Elliott wave analysis.
"Most of the rally in the stock market since 2009 can be chalked up to the Federal Reserve’s attempt to create a ‘wealth effect’ through higher stock market prices. This only exacerbates the downside risk. Why? The stock market no is longer a lead indicator for the economy. It is instead reflecting Fed manipulation. Pushing the stock market higher while the real economy languishes has resulted in another bubble.
"The next leg down will not be a partial correction of the advance since the 2009 lows. It will be another major financial crisis. The worst is yet to come."
Sadly, most people will continue to deny that anything is wrong until it is far too late.
Many areas of Europe (http://theeconomiccollapseblog.com/archives/category/europe) are already experiencing economic depression (http://theeconomiccollapseblog.com/archives/tag/economic-depression), 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 next wave of the economic collapse strikes?

http://www.zerohedge.com/news/2013-03-04/12-things-just-happened-show-next-wave-economic-collapse-almost-here

palani
7th March 2013, 03:47 AM
There is not a single one of these indices that is not financial in nature. They each represent an aspect of the artificial world dominated by control and obeyed by subjects. Each indices is only of interest if
1) you are a controller.
2) you are a subject.

Twisted Titan
7th March 2013, 04:52 AM
#3*In a stunning move, Michigan Governor Rick Snyder says that he will appoint*an emergency financial manager*to take care of Detroit's financial affairs...Snyder, 54, took a step he avoided a year ago, empowering an emergency 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





This is the one to watch for.
This is what they are chomping at the bit to implement they just needed the political.cover.
Unless you are a big wigg and i mean a BIG BIG WIG expect to get shafted on being paid with any contracts you have with the local goverment.
The best thing to do would move to a cash on the barrel head form of payment or let the account stay open for a periods of 3 months to see if they will make good on payment. If not cancel it because if you dont you are going to be on the hook for all the inventory you will pound sand.

EE_
7th March 2013, 05:29 AM
All these doomers are going to have egg on their faces as the Dow zooms 2,000 points higher.
The economy in the US is on fire! Just look at the stock market. Home inventory is at record lows in most of the country.
Home builders are going to have to get their asses in gear soon to fill demand. The consumer and jobs should be following soon. The only thing that needs to happen is the Fed to stop easing and raise interest rates.
Who cares about Europe...just look at the US stock market go!

mamboni
7th March 2013, 06:35 AM
All these doomers are going to have egg on their faces as the Dow zooms 2,000 points higher.
The economy in the US is on fire! Just look at the stock market. Home inventory is at record lows in most of the country.
Home builders are going to have to get their asses in gear soon to fill demand. The consumer and jobs should be following soon. The only thing that needs to happen is the Fed to stop easing and raise interest rates.
Who cares about Europe...just look at the US stock market go!

You forgot <sarcasm>, though some might think it superfluous.

EE_
7th March 2013, 06:38 AM
You forgot <sarcasm>, though some might think it superfluous.

I can't find the damn sarcasm smiley

mamboni
7th March 2013, 06:55 AM
I can't find the damn sarcasm smiley

Rumor has it that BOOK stole it when he left the forum.

madfranks
7th March 2013, 07:20 AM
There is not a single one of these indices that is not financial in nature. They each represent an aspect of the artificial world dominated by control and obeyed by subjects. Each indices is only of interest if
1) you are a controller.
2) you are a subject.

OR if you do business with anyone who is #1 or #2 in your list.

Ponce
7th March 2013, 07:32 AM
Why let others tell you what is really going on when you yourself can see it?.....I knew longgggggggg ago the trouble (financially alone) that we were in when........we stopped manufacturing, China bought our manf plants, we no longer exported anything, containers that came in full and stayed here empty, ships that came in and did not unloaded till they were paid and then went back empty..................................you can say that we still manuf...but...for internal comsummation and only so much.....look around your home and tell me how many "Made in the USA" do do you see.

First post of the day........first post of the day.

V

EE_
7th March 2013, 09:27 AM
Good News! Just announced!
HOME INVENTORY AT 30 YEAR LOW!