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People Are “Fighting For Food” As Authorities Warn Florence “Could Produce A Disaster Comparable” To Hurricane Katrina

People Are “Fighting For Food” As Authorities Warn Florence “Could Produce A Disaster Comparable” To Hurricane Katrina

Hurricane Florence is about to make a “direct hit” on the east coast, and public officials are making one ominous declaration about this storm after another.  Florence is being called “extremely dangerous”, “a monster”, “the worst in 60 years” and “the storm of a lifetime”.  By the end of this week we shall see if this storm lives up to the hype, but at this point it is definitely an immensely powerful storm.  Hurricanes of this magnitude very rarely come this far north, and panic is starting to set in all across the mid-Atlantic region as people realize that this is really happening.  Over a million people are in the process of evacuating, and it is being reported that there is “fighting for food” at the stores that still have some supplies left…

“It was chaotic! Oh my goodness, long lines!” said Fatimah Spivey.

Reilly Norman described it as “a mess in there; it’s wiped out clean.”

The water aisles were especially bare — empty shelf after empty shelf.

“We came around 1 and all the waters were gone,” said Blake Swain. “Now, it’s just people fighting for food.”

Interestingly, federal officials actually conducted a “simulation” that involved a category 4 hurricane hitting the mid-Atlantic region back in late April and early May

Just months ago, disaster planners simulated a Category 4 hurricane strike alarmingly similar to the real-word scenario now unfolding on a dangerously vulnerable stretch of the East Coast.

That “simulation” produced “catastrophic damage” along the east coast, and as a result some experts are now concerned “that Hurricane Florence could produce a disaster comparable to 2005’s Hurricane Katrina“…

A fictional “Hurricane Cora” barreled into southeast Virginia and up the Chesapeake Bay to strike Washington, D.C., in the narrative created by the Federal Emergency Management Agency and Argonne National Laboratory.

…click on the above link to read the rest of the article…

Hurricane Florence To Intensify “To Near Category 5 Strength” And There Are 12 Nuclear Power Reactors In The Carolinas

Hurricane Florence To Intensify “To Near Category 5 Strength” And There Are 12 Nuclear Power Reactors In The Carolinas

The latest forecast is projecting that Hurricane Florence will strengthen “to near category 5 strength” before it makes landfall in the Carolinas, and it is being called “a serious threat to lives and property”.  It is extremely rare for a hurricane of this intensity to come this far north, and one expert is claiming that Florence “has the potential to be the most destructive hurricane we’ve had in modern history for this region.”  At this time, the government is warning of “a life-threatening storm surge” of up to 20 feet or higher, “life-threatening freshwater flooding”, and “damaging hurricane-force winds”.  But there is another factor that not a lot of people are talking about.  There are 12 nuclear power reactors in the Carolinas, including two that are located right along the coast.

According to Google, there are 7 nuclear power reactors in South Carolina…

South Carolina hosts seven operating nuclear power reactors: Catawba Units 1 & 2, Oconee Units 1, 2 & 3, H. B.

And Google says that there are 5 nuclear power reactors in North Carolina…

North Carolina hosts five operating nuclear power reactors: Brunswick Units 1 & 2, McGuire Units 1 & 2, and Shearon Harris Unit 1. These account for nearly 32% of electricity generation in the state.

It is the two reactors at the Brunswick plant that are of the most concern because they sit right along the coast and they are directly in the projected path of the storm.

The following is what Wikipedia has to say about those reactors…

The Brunswick nuclear power plant, named for Brunswick County, North Carolina, covers 1,200 acres (490 ha). The site is adjacent to the town of Southport, North Carolina, and to wetlands and woodlands, and was opened in 1975.

The site contains two General Electric boiling water reactors, which are cooled by water collected from the Cape Fear Riverand discharged into the Atlantic Ocean.

…click on the above link to read the rest of the article…

The 11th Hour: 8 Examples Of Mainstream Media Sources Warning Us Of Imminent Economic Disaster

The 11th Hour: 8 Examples Of Mainstream Media Sources Warning Us Of Imminent Economic Disaster

Are we on the verge of another great financial crisis, a devastating recession and a horrific implosion of the global debt bubble?  On my website I have been relentlessly warning my readers about the inevitable consequences of our very foolish actions, but now the mainstream media is beginning to sound just like The Economic Collapse Blog.  The coming crisis is so close now that a lot of them are starting to see it, and of course economic disaster is already a reality for much of the rest of the planet.  For years, the mainstream media told us that things would get better, and in a lot of ways we did see some improvement.  But now the tone of the mainstream media has become quite ominous, and that is definitely not a positive sign.  The following are 8 examples of mainstream media sources warning us of imminent economic disaster…

#1 Forbes: “Disaster Is Inevitable When America’s Stock Market Bubble Bursts”

As shown in this report, the U.S. stock market is currently trading at extremely precarious levels and it won’t take much to topple the whole house of cards. Once again, the Federal Reserve, which was responsible for creating the disastrous Dot-com bubble and housing bubble, has inflated yet another extremely dangerous bubble in its attempt to force the economy to grow after the Great Recession. History has proven time and time again that market meddling by central banks leads to massive market distortions and eventual crises. As a society, we have not learned the lessons that we were supposed to learn from 1999 and 2008, therefore we are doomed to repeat them.

The purpose of this report is to warn society of the path that we are on and the risks that we are facing.

…click on the above link to read the rest of the article…

The 11th Hour: 8 Examples Of Mainstream Media Sources Warning Us Of Imminent Economic Disaster

The 11th Hour: 8 Examples Of Mainstream Media Sources Warning Us Of Imminent Economic Disaster

Are we on the verge of another great financial crisis, a devastating recession and a horrific implosion of the global debt bubble?  On my website I have been relentlessly warning my readers about the inevitable consequences of our very foolish actions, but now the mainstream media is beginning to sound just like The Economic Collapse Blog.  The coming crisis is so close now that a lot of them are starting to see it, and of course economic disaster is already a reality for much of the rest of the planet.  For years, the mainstream media told us that things would get better, and in a lot of ways we did see some improvement.  But now the tone of the mainstream media has become quite ominous, and that is definitely not a positive sign.  The following are 8 examples of mainstream media sources warning us of imminent economic disaster…

#1 Forbes: “Disaster Is Inevitable When America’s Stock Market Bubble Bursts”

As shown in this report, the U.S. stock market is currently trading at extremely precarious levels and it won’t take much to topple the whole house of cards. Once again, the Federal Reserve, which was responsible for creating the disastrous Dot-com bubble and housing bubble, has inflated yet another extremely dangerous bubble in its attempt to force the economy to grow after the Great Recession. History has proven time and time again that market meddling by central banks leads to massive market distortions and eventual crises. As a society, we have not learned the lessons that we were supposed to learn from 1999 and 2008, therefore we are doomed to repeat them.

The purpose of this report is to warn society of the path that we are on and the risks that we are facing.

…click on the above link to read the rest of the article…

Bankers And Tech Executives Know The Collapse Of Society Is Coming And Are Feverishly Prepping For It

Bankers And Tech Executives Know The Collapse Of Society Is Coming And Are Feverishly Prepping For It

While most of the general population has been lulled into a false sense of security, bankers and tech executives are spending millions upon millions of dollars to prepare for the collapse of society.  Do they know something that the rest of us do not?  Apparently talk of doomsday scenarios has become very popular at Silicon Valley dinner parties, and as you will see below, having a plan to escape to New Zealand appears to be a very popular “Plan B” among the tech elite.  Of course this is not just a west coast phenomenon.  Many bankers on the east coast have similar concerns and have also been developing contingency plans.  Ladies and gentlemen, they know what is coming and they are feverishly getting prepared for it.  In fact, J.P. Morgan Chase’s head quant just publicly declared that the next financial crisis is going to result in “social unrest not seen in the U.S. in half a century”.  The following comes from CNBC

Sudden, severe stock sell-offs sparked by lightning-fast machines. Unprecedented actions by central banks to shore up asset prices. Social unrest not seen in the U.S. in half a century.

That’s how J.P. Morgan Chase‘s head quant, Marko Kolanovic, envisions the next financial crisis. The forces that have transformed markets in the last decade, namely the rise of computerized trading and passive investing, are setting up conditions for potentially violent moves once the current bull market ends, according to a report from Kolanovic sent to the bank’s clients on Tuesday. His note is part of a 168-page mega-report, written for the 10th anniversary of the 2008 financial crisis, with perspectives from 48 of the bank’s analysts and economists.

…click on the above link to read the rest of the article…

Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes

Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes

The wait for the next global financial crisis is over.  Major currencies all over the planet are in a “death spiral”, many global stock markets are crashing, and economic activity is beginning to decline at a stunning rate in quite a few nations.  Over the past 16 years, the emerging market debt bubble has grown from 9 trillion dollars to 63 trillion dollars.  Yes, you read that correctly.  Now that emerging market debt bubble is imploding, and as a result emerging market currencies all over the globe are in “complete meltdown”.  In fact, at least 20 different currencies have fallen by double-digit percentages against the U.S. dollar so far in 2018, and nobody is quite sure what is going to happen next.

You may be tempted to think that this must be a good thing for the United States since the value of the U.S. dollar has been rising, but it is not.

During the “boom years”, trillions of dollars were borrowed by emerging market economies, and a high percentage of those loans were denominated in U.S. dollars.  Now that their currencies are crashing, it is going to take much more local currency to service those U.S.-denominated debts, and a whole lot of them are going to start going bad.

That means that many financial institutions here in the United States and over in Europe are going to end up holding enormous piles of bad debt, and the losses could potentially be astronomical.

The dominoes are starting to fall, and even the mainstream media is admitting that what we are facing is really bad.  For example, the following comes from a CNBC article entitled “The emerging market crisis is back. And this time it’s serious”

…click on the above link to read the rest of the article…

Oil Prices Have Been Rising And $4 A Gallon Gasoline Would Put Enormous Stress On The U.S. Economy

Oil Prices Have Been Rising And $4 A Gallon Gasoline Would Put Enormous Stress On The U.S. Economy

Thanks to increasing demand and upcoming U.S. sanctions against Iran, oil prices have been rising and some analysts are forecasting that they will surge even higher in the months ahead.  Unfortunately, that would be very bad news for the U.S. economy at a time when concerns about a major economic downturn have already been percolating.  In recent years, extremely low gasoline prices have been one of the factors that have contributed to a period of relative economic stability in the United States.  Because our country is so spread out, we import such a high percentage of our goods, and we are so dependent on foreign oil, our economy is particularly vulnerable to gasoline price shocks.  Anyone that lived in the U.S. during the early 1970s can attest to that.  If the average price of gasoline rises to $4 a gallon by the end of 2018 that will be really bad news, and if the average price of gasoline were to hit $5 a gallon that would be catastrophic for the economy.

Very early on Tuesday, the price of U.S. oil surged past $70 a barrel in anticipation of the approaching hurricane along the Gulf Coast.  The following comes from Fox Business

U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.

U.S. West Texas Intermediate (WTI) crude futures were at $70.05 per barrel at 0353 GMT, up 25 cents, or 0.4 percent from their last settlement.

If we stay at about $70 a gallon, that isn’t going to be much of a problem.

But some analysts are now speaking of “an impending supply crunch”, and that is a very troubling sign.  For example, just check out what Stephen Brennock is saying

…click on the above link to read the rest of the article…

The 5 Previous Times This Stock Market Indicator Has Reached This Level Stock Prices Have Fallen By At Least 50 Percent

The 5 Previous Times This Stock Market Indicator Has Reached This Level Stock Prices Have Fallen By At Least 50 Percent

Have you ever heard of the “Sound Advice Risk Indicator”?  Every single time in our history when it has gone above 2.0 the stock market has crashed, and now it has just surged above that threshold for the very first time since the late 1990s.  That doesn’t mean that a stock market crash is imminent, but it is definitely yet another indication that this stock market bubble is living on borrowed time.  But for the moment, there is still quite a bit of optimism on Wall Street.  The Dow set another brand new all-time record high earlier this week, and on Wednesday we learned that this bull market is now officially the longest in our history

For context, a bull market is defined as a 20% rally on a closing basis that’s at no point derailed by a subsequent 20% decline. March 9, 2009, has long been the agreed-upon starting point for such calculations because that was the absolute bottom for the prior bear market, which ended that day.

The S&P 500 has surged a whopping 323% over the period, with its roughly 19% annualized return slightly lagging behind the historical bull market average of 22%.

Of course the U.S. economy has not been performing nearly as well.  Even if you accept the highly manipulated numbers that the federal government puts out, we haven’t had a year when GDP grew by at least 3 percent since the middle of the Bush administration.

It simply is not possible for stock prices to continue to soar about 20 percent a year when the U.S. economy is growing less than 3 percent a year.  At some point a major adjustment is coming, and it is going to be exceedingly painful.

…click on the above link to read the rest of the article…

Watch Out California! 53 Major Earthquakes (Including A Magnitude 8.2) Just Hit The Ring Of Fire In A 24 Hour Period

Watch Out California! 53 Major Earthquakes (Including A Magnitude 8.2) Just Hit The Ring Of Fire In A 24 Hour Period

Is something unusual starting to happen to the crust of our planet?  The USGS defines any earthquake of at least magnitude 4.5 as “significant”, and there were 53 earthquakes that met that criteria along the Ring of Fire on Sunday alone.  If you would like to verify that information for yourself, you can so do right here.  Not too long ago, I wrote about how “Earth changes” seem to be accelerating all over the world, but even I was stunned by the ferocity of the seismic activity that we witnessed over the weekend.  Because none of the earthquakes happened in the United States, the mainstream media almost entirely ignored this story, but that is a huge mistake.  The entire west coast of the U.S. falls along the “Ring of Fire”, and experts assure us that it is only a matter of time before the seismic tension that is building up along the tectonic plates in that area is released.

Much of the seismic activity on Sunday was near the small island nation of Fiji, and it is true that Fiji often experiences earthquakes because it sits directly inside the Ring of Fire

Fiji falls in the Pacific Ring Of Fire – a massive horseshoe-shaped area in the Pacific basin.

The ring is formed of a string of 452 volcanoes and sites of seismic activity (earthquakes), which encircle the Pacific Ocean.

Roughly 90 percent of all earthquakes occur along the Ring of Fire, and 75 percent of the world’s active volcanoes are dotted along the expansive ring.

It certainly is not unusual to see earthquakes happen along the Ring of Fire, but what was unusual about the activity on Sunday was the size of the earthquakes.

…click on the above link to read the rest of the article…

5 Signs That Global Financial Markets Are Entering A Bear Market, And 11 Ways That You Can Get Prepared For The Chaos That Is Coming…

5 Signs That Global Financial Markets Are Entering A Bear Market, And 11 Ways That You Can Get Prepared For The Chaos That Is Coming…

We haven’t seen carnage like this in the global financial marketplace in quite some time.  On Wednesday, U.S. stocks were down some, but things were much, much worse around the rest of the world.  Global banking stocks are plunging, emerging market stocks are cratering, and emerging market currencies continue their stunning decline.  This represents a dramatic change from the relative stability that we have seen throughout most of 2018.  It is almost as if someone flipped a switch once the month of August began, and the shakiness of global financial markets has many investors wondering what trouble fall will bring.  What we are witnessing right now is not a full-blown panic yet, but it definitely has the potential to turn into one.

The term “bear market” is being thrown around a lot lately, but a lot of people don’t understand what a “bear market” actually is.

A bear market is generally considered to be when we see a decline of 20 percent or more from the 52-week high, and after the carnage of this past week a lot of those thresholds are now being crossed.

It would probably be too early to call this a “global stock market crash”, but we are well on the way to getting there.  The following are 5 signs that global financial markets are entering a bear market…

#1 Global stocks have now fallen beneath all key moving averages.  Those key moving averages are important psychological thresholds for investors, and if we have a few more days like Wednesday we could see global financial markets go into full panic mode.

#2 European banking stocks have now officially entered a bear market, and all major European stock indexes are now red for the year.

…click on the above link to read the rest of the article…

MIT Computer Model Predicts Dramatic Drop In Quality Of Life Around 2020 And The “End Of Civilization” Around 2040

MIT Computer Model Predicts Dramatic Drop In Quality Of Life Around 2020 And The “End Of Civilization” Around 2040

Is humanity approaching a major turning point?  A computer model that was originally developed in 1973 by a group of scientists at MIT is warning that things are about to dramatically change.  If the computer predictions are accurate, our standard of living will start to decline dramatically around the year 2020, and we will witness the “end of civilization” around the year 2040.  Of course this is not the first time ominous predictions such as this have been made about our future.  For years, experts have been warning that we are heading for severe shortages of water, food and oil as our limited natural resources begin to run out.  For years, experts have been warning that our economic model is not sustainable and that we are heading for a historic collapse.  For years, experts have been warning about the alarming increase in seismic activity all over the planet and about the proliferation of weapons of mass destruction.  Society is crumbling all around us, and the elements for a “perfect storm” are definitely coming together.

So maybe this computer model is on to something.

The name of the computer program is “World One”, and it was originally created by Jay Forrester

The prediction came from a programme nicknamed World One, which was developed by a team of MIT researchers and processed by Australia’s largest computer.

It was originally devised by computer pioneer Jay Forrester, after he was tasked by the Club of Rome to develop a model of global sustainability.

However, the shocking result of the computer calculations showed that the level of pollution and population would cause a global collapse by 2040.

…click on the above link to read the rest of the article…

That Escalated Quickly: The Emerging Market Currency Crisis Of 2018 Threatens To Destabilize The Entire Global Financial System

That Escalated Quickly: The Emerging Market Currency Crisis Of 2018 Threatens To Destabilize The Entire Global Financial System

We haven’t seen emerging market currencies crash like this in over a decade, and analysts are warning that if this continues we could witness a devastating global debt crisis.  Over the past decade, there has been an insatiable appetite for cheap loans in emerging market economies, and a very substantial percentage of those loans were denominated in U.S. dollars.  When emerging market currencies crash relative to the U.S. dollar, lending dries up and servicing the existing loans becomes extremely oppressive, and that is precisely what we are witnessing right now.  This week, most of the top headlines in the financial media have been about the crisis in Turkey.  The Turkish lira fell another 8 percent against the U.S. dollar on Monday, and it is now down about 35 percent over the past week.  Overall, the lira has fallen 82 percent against the U.S. dollar in 2018, and this is putting an enormous amount of stress on the Turkish financial system

“It is about credit, since Turkey has been a huge borrower in global capital markets over the past number of years when the world’s central banks were encouraging investors to stretch for yield,” David Rosenberg, chief economist and strategist at Gluskin Sheff, said in his daily market note. “Over half of the borrowing is denominated in foreign currencies, so when the lira sinks, debt-servicing costs and default risks rise inexorably.”

Turkey’s economy, just like all of the other major economies around the world, is utterly dependent on the flow of credit, and now lending is becoming greatly restricted.

…click on the above link to read the rest of the article…

Portland Braces For “Blood In The Streets” As Antifa Pledges “Militant Antifascist Resistance Against Patriot Prayer” On Saturday

Portland Braces For “Blood In The Streets” As Antifa Pledges “Militant Antifascist Resistance Against Patriot Prayer” On Saturday

If Portland authorities do not intervene in a major way, we could potentially see one of the largest street brawls in modern American history on Saturday.  On June 30th, an extremely violent confrontation in Portland between Antifa thugs and conservative groups made headlines all over the world, and now both sides have been hyping this August 4th sequel as an even bigger event.  Two conservative groups, Patriot Prayer and The Proud Boys, are claiming that they will have thousands of members in the heart of Portland for their scheduled rally, and they are very much encouraging people to bring guns.  On the other side, Eugene Antifa, Rose City Antifa, RASH NW and the Pacific Northwest Anti-Fascist Workers Collective are hoping to bring thousands of their own members, and one organizer publicly stated that they “better bring our own guns too”.  All it is going to take is for one person to get shot and killed for all hell to break loose.

At the center of this controversy is a conservative Senate candidate named Joey Gibson

For the past week, Vancouver activist, provocateur and senate candidate Joey Gibson has been talking about guns — guns that his friends and supporters with the groups Patriot Prayer and the Proud Boys will likely bring to a self-described “Freedom Rally” in Portland on Saturday.

“Everyone should be carrying around guns at all times, especially in our situation,” Gibson explained in a video, posted to Facebook June 30 to promote the event.

There is certainly nothing wrong with a candidate holding a rally and encouraging his supporters to bring guns.  It happens in other major cities all the time.

…click on the above link to read the rest of the article…

We Are Seeing Heat And Drought In The Southwest United States Like We Haven’t Seen Since The Dust Bowl Of The 1930s

We Are Seeing Heat And Drought In The Southwest United States Like We Haven’t Seen Since The Dust Bowl Of The 1930s

Despite all of the other crazy news that is happening all around the world, the top headlines on Drudge on Monday evening were all about the record heatwave that is currently pummeling the Southwest.  Of course it is always hot during the summer, but the strange weather that we have been witnessing in recent months is unlike anything that we have seen since the Dust Bowl days of the 1930s.  At this moment, almost the entire Southwest is in some stage of drought.  Agricultural production has been absolutely devastated, major lakes, rivers and streams are rapidly becoming bone dry, and wild horses are dropping dead because they don’t have any water to drink.  In addition, we are starting to see enormous dust storms strike major cities such as Las Vegas and Phoenix, and the extremely dry conditions have already made this one of the worst years for wildfires in U.S. history.  What we are facing is not “apocalyptic” quite yet, but it will be soon if the rain doesn’t start falling.

Large portions of Arizona, New Mexico, Colorado and Utah are already at the highest level of drought on the scale.  In Arizona, things are so bad that wild horses have been dropping dead by the dozens, and now authorities are trying to save those that are left

For what they say is the first time, volunteer groups in Arizona and Colorado are hauling thousands of gallons of water and truckloads of food to remote grazing grounds where springs have run dry and vegetation has disappeared.

Federal land managers also have begun emergency roundups in desert areas of Utah and Nevada.

…click on the above link to read the rest of the article…

The Trade War Is Already Having A Huge Impact On The U.S. Economy

The Trade War Is Already Having A Huge Impact On The U.S. Economy

The trade war has barely just begun, and yet significant ripple effects are already being felt all across the U.S. economy.  Once thriving businesses are on the verge of failure, workers are being laid off, and some sectors of the economy are witnessing enormous price hikes.  Right now the mainstream media is absolutely fixated on the drama surrounding the recently concluded Trump-Putin summit meeting, but the consequences of this trade war will ultimately be far more important for the lives of most ordinary Americans.  As more tariffs continue to be implemented, this will perhaps be the biggest disruption to the global economic system that we have seen in decades.  Perhaps you have not been affected personally yet, but for many Americans this trade war has changed everything.  For example, just consider the plight of soybean farmer Tim Bardole

The U.S. is China’s second-biggest source of soybeans at 34% of the imports, after Brazil, which ships 53%. The staple is used to make cooking oil and seasoning, and soybean meal is found in pig feed.

Now the tariffs have taken the bottom out of U.S. soybean prices, delivering a gut punch to farmers like Tim Bardole. He was already $100,000 in the red last year due to a yearslong slump in cereal prices, and the current predicament has driven him into a corner.

“I’m not sure if I can get a loan from the bank to finance our next year’s crop,” said Bardole.

If this trade war had not happened, perhaps Bardole would have been able to eventually get out of debt.  But now he is facing financial ruin and the potential loss of his entire farm.

Switching gears, U.S. consumers will soon discover that common electronics such as phones and computers cost a lot more.  The following comes from CBS News

Buyers in the U.S. will soon see price hikes on computers, phones, thermostats and “everyday items,” according to the Information Technology Industry Council, a group that represents tech companies.

Hundreds of Chinese components that the Trump administration penalized are used to make everything from LEDs to sensors to printer and scanner components. When manufacturers pay more for their parts, the costs are typically passed on to consumers, the ITI said.

Are you ready to pay 50 dollars for your next phone to support this trade war?

Maybe.

50 dollars is ultimately not that big of a deal.

But what about paying $9,000 more for your next house?

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