Market Crash News /marketcrashnews Market Crash News - Market Crash Information Tue, 04 Apr 2017 18:07:06 +0000 en-US hourly 1 https://wordpress.org/?v=4.7.3 Lawmakers preparing for societal collapse with plans to set up “survivalist communities” /marketcrashnews/2017-04-04-lawmakers-preparing-for-societal-collapse-with-plans-to-set-up-survivalist-communities.htmlv Tue, 04 Apr 2017 15:37:47 +0000 http://162.244.66.231/marketcrashnews/2017-04-04-lawmakers-preparing-for-societal-collapse-with-plans-to-set-up-survivalist-communities.htmlv I have lost track of how many times I have seen survivalists, preppers and those recommending that everyone prepare for disaster or catastrophe, have been mocked, accused of fear porn or any other derogatory statement that deniers or trolls throw out, but we see now that two South Carolina lawmakers are now making plans for “survivalist communities,” for what they consider to be an inevitable societal collapse, whether from an attack from a foreign nation, a natural catastrophe, economic collapse or an EMP.

( Article by Susan Duclos from allnewspipeline.com )

For those concerned about societal collapse or impending disaster, two South Carolina lawmakers have a plan. It includes community ammo depots and tactical weapons training.

State Reps. Josiah Magnuson, R-Campobello, and Jonathon Hill, R-Townville — both from tiny towns in the Upstate Bible Belt — are in the process of setting up what they call the “Virtue Solution Project,” a group that is seeking to either save America or survive a societal collapse, which they both believe is likely coming.

The organization is a mixture of religious ministry, grassroots political organizing and disaster prepping. At its core, their movement hopes to save the country by reshaping it to their interpretation of the Founding Fathers’ ideals.

Their plan includes setting up “community preparedness centers,” which will provide access to “reading material, tools, food storage, ammo, and more.”  They want these “micro-hubs” or “light houses” to provide education to their members on first aid, farming, spiritual leadership, energy sources and to teach them “tactical defense.” They are also encouraging other community leaders to form their own survivalist communities. Their vision appears to be that these types of communities will be set up all across America, so that when catastrophe strikes, those participating will be prepared for a “fresh beginning in America.”

“There’s probably going to be a lot of little crises, but there will eventually come a point where there is a major disaster of some sort in our country, in all likelihood,” Magnuson said during one of the lectures he gave in the past year and downloaded onto YouTube.

“We need to be ready for that, and that will give us an opportunity to have a fresh beginning.”

Magnuson also tell The Post and Courier ” “I think all Christians understand that there is a prophetic element to this, living in the end times and so forth.”

Read more at: allnewspipeline.com and Survival.news

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This must-see interview with James Rickards will make you completely rethink your financial preparedness for the coming collapse /marketcrashnews/2017-04-02-this-must-see-interview-with-james-rickards-will-make-you-completely-rethink-your-financial-preparedness-for-the-coming-collapse.htmlv Mon, 03 Apr 2017 04:38:25 +0000 http://162.244.66.231/marketcrashnews/2017-04-03-this-must-see-interview-with-james-rickards-will-make-you-completely-rethink-your-financial-preparedness-for-the-coming-collapse.htmlv This Greg Hunter interview with James Rickards will make you completely rethink your financial preparedness for the coming collapse.

James Rickards is extremely intelligent and highly experienced in fiscal dynamics. I strongly recommend all his books, including The New Case for Gold, a must-read book for anyone serious about financial prepping. Rickards was on the front lines of the 1997 LTCM fiasco which nearly led to a cascading global implosion of the banking establishment.

Unlike the bulldookey-spewing “economists” at the New York Times, James Rickards knows full well that a global financial collapse is now inevitable. Although he underscores the fact that no one can tell exactly when it’s going to start, he knows it is inescapable and growing ever nearer each day. “The instability of the financial system as a whole [is an “avalanche” waiting to happen]. All these things are massively unstable,” he explains.

The video below, from Greg Hunter’s USAwatchdog.com, is packed with extremely valuable information you need to know. Skip to 24:00 which where the most intriguing part of the interview begins. Here are my notes, followed by the James Rickards interview and my own mini-documentary called Faith Money and the Coming Collapse.

24:00 Mad Max scenario?

26:30 Your local police are heavy armed like “special forces” with automatic weapons. The martial law will be enforced at gunpoint.

27:30 Bread lines, heavy-handed martial law tactics. “Governments don’t go down without a fight…” They’ll try to buy time…

28:30 They’ll riot. They’ll “burn down banks” … neofascism and riot police in charge. “All that legal authority is already in place.”

28:50 The United States is operating under a state of emergency right now, thanks to President Bush.

33:00 How the political establishment is desperately working to obliterate Trump by any means possible.

36:45 Efforts to overthrow Trump are part of “America’s new civil war.”

37:20 Will Trump strike back against the deep state?

43:00 The collapse of the U.S. dollar as a global reserve currency: The gold standard, SDRs and propping up faith by decree.

46:00 Why 10% of your invest-able assets should be in gold or silver. Why gold will rise to $10,000 per oz. in the next few years.

47:20 Don’t wait for the collapse. You won’t be able to trade dollars for gold once the crash begins. Gold will be almost impossible to find.

49:00 The Fed will raise rates in June and actually cause negative economic consequences.

50:40 The 2-5 year price target for gold is over $5,000 per oz., reaching over $10,000 per oz. soon after. (Silver estimated to go to $100 – $200 per oz., tracking in parallel with gold.)

52:30 Why central banks are hoarding gold even while they LIE to the public and claim gold has no special value.

Be sure to follow more news about the financial collapse at Collapse.news and MarketCrash.news.

 

 

 

 

 

 

 

 

 

 

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Why every new generation is just another mindless herd that gets financially obliterated by another stock market bubble collapse /marketcrashnews/2017-03-27-why-every-new-generation-herd-financially-obliterated-stock-market-bubble-collapse.htmlv Tue, 28 Mar 2017 04:02:04 +0000 http://162.244.66.231/marketcrashnews/2017-03-28-why-every-new-generation-herd-financially-obliterated-stock-market-bubble-collapse.htmlv It’s always amazing to me how easily people suffer from popular delusions and the madness of crowds. Most humans are, in essence, herd animals, meaning that their beliefs, perceptions, behaviors and even their “facts” are determined almost entirely by social conformity rather than evidence of reality.

Seemingly unique to humans is the ability to cognitively justify irrational herd behavior through a complex process of self delusion where people tell themselves that they are thinking rationally. In reality, they’re just stupidly following the herd… but they’re really good at LYING to themselves to think they are rational, critical thinkers who have carefully weighed the situation and made a logical decision based on evidence.

Every new generation that comes along suffers under the absurd delusion that it’s way smarter than every previous generation. Yet every generation gets suckered into the exact same cycle of greed, conformity, panic and wipeout that afflicted each previous generation. The oft-heard mantra of, “It’s different this time” is just each new generation’s delusional self-justification bubbling to the surface long enough to convince young investors that they should buy more SNAP shares because everything is awesome!

If you’re wise enough and mature enough to be reading this website, you already know where it’s all headed: A catastrophic stock market crash that sends younger investors into a tailspin as their entire “reality” comes crashing down around them. In a medical marijuana-induced haze, they’ll be asking themselves, “What happened?”

What happened, dear youthful invest-o-noobs, is that you actually aren’t any smarter at all. In fact, you’re just as easily fooled as the suckers who fell for the dot com bubble a generation earlier. (I also warned people to sell everything two years before for dot com crash, by the way, and helped thousands of people avoid being wiped out.) What you thought was a “sure thing” was really nothing more than conformist herd mentality playing out inside your head, pretending to be “investment strategy.”

You got burned. Bad. But you learned a very costly lesson that’s also very valuable: If you’re running with the herd, watch out for the cliff ahead… because the herd will often run right over the edge and plummet to disaster below… all while claiming the herd is so intelligent that it has out-herded every previous herd that leaped off the same cliff before. (They’re a whole NEW herd, haven’t you heard?)

Bottom line? If you tend to agree with mainstream thinking on finance and investing, you are incredibly gullible, misinformed, and certain to soon experience the harsh cost of your conformist stupidity as the laws of economics abruptly correct your fantasy delusions with a swift boot to the head.

Today’s young investors are about to be hit with a devastating realization: They’re just as gullible and foolish as their parents

To further explain all this, I’ve posted a podcast that explains more. Listen to it at the Health Ranger Report website, or listen below:

 

 

 

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Explosion in rickets, gout and scarlet fever caused by processed junk food and inflationary monetary policy /marketcrashnews/2017-03-27-explosion-rickets-gout-scarlet-fever-processed-junk-food-inflationary-monetary-policy.htmlv Mon, 27 Mar 2017 15:32:29 +0000 http://162.244.66.231/marketcrashnews/2017-03-27-explosion-rickets-gout-scarlet-fever-processed-junk-food-inflationary-monetary-policy.htmlv Poor diet, financial insecurity, and falling standards of living are factors that contribute to the rising incidence of Victorian-era diseases — such as gout, rickets, scarlet fever, and syphilis — in modern-day Great Britain.

The U.K. Faculty of Public Health (FPH) stressed that poor wage growth and persistent inflation has greatly affected nutrition intake among poorer families in the U.K. This proves true in the case of obesity, as the condition remains to be the biggest food poverty issue. According to the FPH, poorer families were forced to opt for cheaper, mostly processed foods in place of nutritious foods.

Clinicians and hospitals noted an increasing number of children suffering from diet-related diseases, which was a result of limited access to healthy foods. Health experts also observed a 19% increase in the number of people hospitalized for malnutrition during the previous 12 months. (RELATED: Explore more news about disease prevention at Prevention.news.)

“It’s getting worse because people can’t afford good quality food. Malnutrition, rickets and other manifestations of extreme poor diet are becoming apparent. The vitamin deficiency states of gout, malnutrition being seen in hospital admission statistics are extreme manifestations of specific dietary deficiencies or excesses, but they are markers of a national diet which is poor. Food prices up 12%, fuel prices up double-figure percentages and wages down is a toxic combination, forcing more people to eat unhealthily,” FPH official Dr. John Middleton said.

“That is the bit people dont really appreciate – a processed meal from a supermarket will need less feeding the meter as of course will a fast food take out. Poor people are having to pay out more of their income on food compared to the better off. There are difficult choices for people on low income,” Dr. Middleton added.

Victorian era disorders resurface centuries later

Hospital admission for various Victorian era disorders such as rickets and gout were on the rise during the previous years.

Rickets is a bone disease caused by vitamin D deficiency. Patients with rickets exhibit brittle bones and deformities. Recent data from Public Health England showed that the number of rickets cases in the U.K. rose from 675 during the 2009-2010 period to 937 during the 2015-2016 period.  The Resolution Foundation announced in January that rising food prices greatly contribute to the increase in rickets rates as poorer people can barely afford nutritious foods to keep the condition at bay. The use of stronger sunblock in fear of developing skin cancer was also a culprit in this increase, the think tank claimed.

The latest figures from Public Health England also revealed that cases of gout among British adults increased from 6,908 during the 2009/2010 period to 9,708 during the 2015/2016 period. This equates to a 41% increase in gout incidence during the previous eight years. Once widespread during the 1800s, today’s higher gout incidence was largely due in part to the current obesity epidemic and an aging population, the U.K. Gout Society said.

Scarlet fever showed the most prominent increase over the years. Recent data showed that scarlet fever rates increased by 198% since the 2009/2010 period. Scarlet fever is an extremely contagious disease that trigger sore throat, rash, and fever. The condition may also lead to pneumonia if not treated. Scarlet was once deemed as a death sentence during the Victorian-era Britain.

The cases of syphilis nearly doubled in the past eight years, according to the Public Health England report. Data revealed that syphilis cases jumped from 2,646 during the 2009/2010 period to 5,217 during the 2015/2016 period. The increasing number of adults engaging in unprotected sex was the primary culprit for the significant rise in syphilis cases, health experts said.

Public Health England said the diseases were monitored to gain a better understanding of how they were being transmitted, and therefore control transmission. The findings have been filed to the NHS and local authorities.

Sources: 

DailyMail.co.uk

TheGuardian.co.uk

TheSun.co.uk

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Federal Reserve now committed to raising interest rates on accelerated schedule to speed the arrival of the “Trump crash” /marketcrashnews/2017-03-21-federal-reserve-now-committed-to-raising-interest-rates-on-accelerated-schedule-to-speed-the-arrival-of-the-trump-crash.htmlv Wed, 22 Mar 2017 04:24:45 +0000 http://162.244.66.231/marketcrashnews/2017-03-22-federal-reserve-now-committed-to-raising-interest-rates-on-accelerated-schedule-to-speed-the-arrival-of-the-trump-crash.htmlv On Wednesday, March 15, the Federal Reserve announced it had raised its benchmark interest rate by a quarter point – a move likely to have noticeable effects on the economy, and not necessarily positive ones.

In fact, many worry that the move could trigger severe financial consequences, including a long-feared adjustment of the stock market that (according to at least one analyst) could send share prices tumbling 6,000 points to below 15,000 – nearly 30 percent below last week’s close.

Raising rates will also affect other sectors of the economy. Some fear rate hikes could lead to another housing crisis – when interest rates are high, it’s more difficult for homeowners to afford their mortgage payments.

Whatever negative effects the rate hikes will have on the economy, it’s an easy bet they will be blamed on President Donald Trump. The timing of this year’s rate hikes (there are two more projected before the end of 2017) has some wondering whether Janet Yellen and the Federal Reserve are playing politics and using the accelerated rate increases as a means to undermine Trump and his presidency.

Could this be true? Let’s look at the evidence.

It should be understood that raising the benchmark interest rate at this point in time is something of a “damned-if-you-do, damned-if-you-don’t” proposition.

While Obama was in the White House, the Fed kept interest rates at a minimum in an attempt to stimulate the economy. Although the strategy may have been somewhat successful, it has led to massive overvaluation of stock and the creation of a financial bubble that sooner or later has to burst.

The Fed’s rationale for raising rates now is based on what it sees as a strengthening economy with a healthy labor market – and one that is likely to create “wage and price inflation” in the near future.

Josh Bivens of the Economic Policy Institute wrote:

Today’s hike seems to signal that Fed policymakers think that we’re currently at or very near full employment, and that failing to slow the pace of economic growth in coming months would soon lead to accelerating wage and price inflation. They could be right, of course, but it is important to note that there is little in actual economic data to indicate this.

Almost no one would argue against the need to raise interest rates – Donald Trump himself has many times advocated doing so – but timing is everything, and one member of the Federal Open Market Committee (FOMC) responsible for Wednesday’s decision believes the hike was premature.

A “dual mandate” of keeping inflation rates at an optimum level and making sure the nation is fully employed is the purported basis of the committee’s actions regarding the setting of interest rates.

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis and the only dissenting vote among the 10-member committee, wrote:

The key data I look at to assess how close we are to meeting our dual mandate goals haven’t changed much at all since our prior meeting. We are still coming up short on our inflation target, and the job market continues to strengthen, suggesting that slack remains.

So why did Yellen and her cronies at the Fed begin raising interest rates too high and too fast?

The only logical conclusion is that the Fed intends to hasten the inevitable correction in the stock market in a manner that will reflect badly on the Trump administration.

The Left has been predicting what they like to call the “Trump Crash” – a theorized economic downturn caused by the new administration’s policies – and it appears that the Fed is all too willing to help engineer such an event.

As if there weren’t already plenty of reason to dismantle the Federal Reserve…

Sources:

CA.News.Yahoo.com

RightSideNews.com

BusinessInsider.com

WashingtonPost.com

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Mind-blowing math animation explains why stock market wealth is an ILLUSION that vanishes in a crash /marketcrashnews/2017-03-21-math-animation-why-stock-market-wealth-illusion-crash.htmlv Tue, 21 Mar 2017 16:38:29 +0000 http://162.244.66.231/marketcrashnews/2017-03-21-math-animation-why-stock-market-wealth-illusion-crash.htmlv Almost no one really understands the basics of how the stock market works, and they suffer under the illusion that EVERY stock share is worth the same price as the last share that was traded. (If you’re confused why this isn’t the case, you’ve been lied to… watch the animation below to learn the truth that Wall Street doesn’t want you to ever realize.)

Thus, in a rising stock market bubble, people who hold shares that were purchased at far lower prices suffer under the illusion that all those shares are “worth” the current high price.

As my animation video reveals below, that idea is nothing but illusion. In truth, share prices are only transmuted into real wealth when they are SOLD. Yet it is impossible for all the holders of the shares to all sell at the current price for the simple reason that selling shares causes their price to fall.

Thus, the mathematical reality is that all the outstanding shares of any given public company are really only worth a fraction of the current market price. This is easily demonstrated in any given market correction or crash where share prices plummet. Ignorant investors falsely believe their “wealth” is being “destroyed” when, in reality, that wealth never existed in the first place.

My mathematical animation, below, reveals the truth about the stock market that no one on Wall Street dare explain… or the entire Ponzi scheme would unravel overnight…

Stay informed by reading MarketCrash.news.

 

 

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The wealthy are going underground as luxury doomsday bunkers sprawl across Kansas /marketcrashnews/2017-03-18-the-wealthy-are-going-underground-as-luxury-doomsday-bunkers-sprawl-across-kansas.htmlv Sat, 18 Mar 2017 16:09:20 +0000 http://162.244.66.231/marketcrashnews/2017-03-18-the-wealthy-are-going-underground-as-luxury-doomsday-bunkers-sprawl-across-kansas.htmlv For many, the world just doesn’t feel like a safe place anymore. Pandemics, the re-emerging threat of nuclear war, terrorist attacks, and even the threat of a good old fashioned natural disaster have many scanning prepper sites online and stockpiling food in their basements.

For some people, though, that just isn’t good enough. Those with the means to do so are flocking to snap up luxury survival condos built on the site of a converted missile silo in Concordia, three hours north of Kansas City.

Larry Hall, manager and owner of the project, spent five years designing the facility, and he has the skills needed for the job, having previously worked with NASA. The project has been an overwhelming success, with the first complex already completely sold out, and orders streaming in for the second.

People’s reasons for wanting the security of their very own luxury fallout shelter differ, but include everything from fears that a solar flare will destroy the power grid, to concerns that the volatile political situation could lead to a nuclear bomb being unleashed. (RELATED: Are you worried about the future but don’t have the resources to afford a luxury survival condo? A 2012 survey found that 41 percent of people in the U.S. view planning for a catastrophe as a smarter investment than planning for their retirement. If you’re one of those people, keep up with the latest in prepping news at Preparedness.news)

Hall’s website states that “given the present worldwide economic conditions, historical disaster evidence, and the obvious signs of global climate changes; that it is prudent to have a ‘disaster plan and shelter’ in place should a need for it occur.” Plenty of people have taken his words to heart. The condos appeal to a diverse array of people, with units having been sold to business tycoons, architects, lawyers, athletes, and even famous Hollywood celebrities. Families with children have also bought units, and the first development boasts 19 children under the age of 21.

The missile silo in which the condos have been built descends 15-stories underground, but residents are not left feeling claustrophobic or desperate to escape because careful consideration has been given to both the physical and psychological needs of residents. Each unit is equipped with fake “windows” which stream live video of beautiful outdoor scenes, making those in the room feel like they have access to the outside world. In fact, the condos are so comfortable and luxurious that some owners use them as vacation homes.

The condos come in two sizes: units of 1,820 square feet which can accommodate up to 10 people and cost $3 million; and units measuring 900 square feet which can house a maximum of 5 people and cost $1.5 million. Each condo is equipped with a state-of-the-art kitchen stocked with a five-year supply of food for each person. Kitchens house gleaming stainless steel appliances, and 50-inch televisions are standard in every unit. The community’s drinking water needs are taken care of by means of 75,000 gallons of stored water, as well as a reverse osmosis filtration system.

Of course, no matter how beautiful your home is, nobody wants to be stuck in it all day for years on end. That’s all taken care of too, and Hall’s ingenious design includes a 17-seat movie theater; a bar and lounge; a 50,000-gallon swimming pool heated permanently to 82 degrees; workout facilities; a library; a golf range; a climbing wall and air hockey. A maximum of two pets are allowed per owner, and their needs are also taken care of with a pet park and fake “lawns” that drain directly into the septic system.

No doomsday bunker, no matter how luxurious, would be of any use if it wasn’t secure, and Hall has that sewn up too, from the entrance doors that weigh 16,000 pounds each, to the sniper post above the silo that can be remotely controlled from within. Security guards, all with military training, keep outside threats at bay. Laws are decided upon and enforced by a board of directors, and there is even a jail for those who break those laws.

One of the owners is a medical doctor, there is a sick bay, and Hall is working on a stockpile of medications for the residents.

All in all, it looks like this developer has thought of everything.

Oh, and in case you were wondering, the survival condos come with a five-year supply of toilet paper too.

Follow more news about preparedness events at Preparedness.news.

Sources:

Kansas.com

DailyMail.co.uk

BusinessInsider.com

KCTV5.com

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Pay attention to these three financial experts if you want to survive the coming financial superstorm: Michael Pento, James Rickards and Gerald Celente /marketcrashnews/2017-02-20-three-financial-experts-survive-the-financial-superstorm-michael-pento-james-rickards-gerald-celente.htmlv Tue, 21 Feb 2017 03:30:21 +0000 http://162.244.66.231/marketcrashnews/2017-02-20-three-financial-experts-survive-the-financial-superstorm-michael-pento-james-rickards-gerald-celente I’m on the record with an all-out warning that a horrific “financial apocalypse” is coming during President Trump’s first term (see my mini-documentary videos below). As a laboratory scientist, I’ve long had a natural gift for mathematics, and I can assure you that the mathematics of today’s global debt leverage fiasco point to a 100% certainty of a colossal “correction” in the very near future.

It is 100% known, in other words, that the Ponzi scheme of central banks, fiat currency and runaway global debt will come to a catastrophic end. The only unknowns are the exact nature and timing of the “tipping point” event that will push it over the edge. No one can accurately predict that timing, but geopolitical forces increasingly point to a high likelihood of it cratering during Donald Trump’s first term as President.

Why I listen to Michael Pento, James Rickards and Gerald Celente

To stay informed on these issues, I make a point to read books and listen to interviews by intelligent, informed financial analysts who also have the backbone to speak out against the (insanely stupid) status quo.

Three of those informed, gutsy financial analysts are Michael Pento, James Rickards and Gerald Celente (I also listen to Charles Nenner, Gregory Mannarino and John Williams, too, among others).

In my opinion, if you’re not staying up to date on these three brilliant financial analysts, you’re not really prepared for the financial collapse that’s coming. (Stay informed at COLLAPSE.news) While critics might say these people are always “preaching doom and gloom,” that’s only because financial doom has genuinely been on the verge of being triggered for many years now. Incompetence, greed and stupidity are coalescing toward a catastrophic collapse, and it’s the status quo propaganda pushers claiming “everything is awesome!” who are going to get burned the worst.

Check out the video interviews below to hear each of these three analysts explaining what they see unfolding in 2017 and beyond.

I also want to give a shout out to Greg Hunter at USAwatchdog.com, who continues to prove himself as one of the most honest, reliable and high-integrity independent journalists on the ‘net. (I’ve told my programmers to add USAwatchdog.com to Censored.news so you can follow his headlines as they’re released.)

Michael Pento

Author of The Coming Bond Market Collapse. Heed his warnings or you might lose most of your savings:

James Rickards

A brilliant financial analyst who is extremely well versed in the risk exposures of derivatives. He was part of LTCM during the 1997 near-collapse of the global debt Ponzi scheme. Rickards is highly technical, and he’s my favorite economic number cruncher. Check out his book and audio book: The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis.

Gerald Celente

Needs no introduction. Celente is a classy, intelligent, ballsy New Yorker who I consider to be a national treasure of financial wisdom and wit. (Celente is also a cunning linguist as you’ll hear in his hilarious mockery of the status quo.)

My own analysis

Don’t miss my mini-documentary called Faith Money and the Coming Collapse

I’ve also published another mini-documentary on how Donald Trump is being set up to be the scapegoat for the planned, engineered global financial collapse:

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Pension panic: The coming financial bubble nobody is talking about /marketcrashnews/2016-12-28-pension-panic-the-coming-financial-bubble-nobody-is-talking-about.htmlv Wed, 28 Dec 2016 16:17:33 +0000 http://162.244.66.231/marketcrashnews/2016-12-28-pension-panic-the-coming-financial-bubble-nobody-is-talking-about For millions of public sector workers in the U.S., state-run pension funds are the only chance left for a comfortable retirement. In the hopes of providing a stable future for their families, an entire generation was duped into putting decades of their earnings into these supposedly ‘risk-free’ investments. Unfortunately, those who have entrusted the government to manage their life savings may end up destitute as a result.

(Article by Shaun Bradley, republished from TheAntiMedia.org)

Budgetary shortfalls that have plagued Detroit for years are now spreading to other municipalities. Since 2008, six local governments have been forced to renegotiate their debts in bankruptcy court, with many others on the same trajectory. The scale of the problem has been repeatedly understated by the media, but across the nation, a somber reality is beginning to set in. [1, 2 3]

States with large populations, like California, often find themselves in the spotlight when it comes to deficits, but there are several others that are in even worse shape. Illinois, New Jersey, and Connecticut are among those facing the biggest hurdles to meet their obligations to retirees. Instead of maintaining a surplus, politicians have continuously prioritized spending today on things like sports stadiums, for example, to ensure re-election. Policymakers on both sides of the aisle have echoed solutions that involve either massive cuts to benefits or shifting the financial burden onto the taxpayer. The price to prop up these insolvent funds will come in the form of higher property taxes, income taxes, and other stealth forms of subsidization. [4, 5]

The ongoing exodus of people from the Northeast to states that offer better opportunities and a lower cost of living is putting even more stress on the already fragile system. Pension payouts depend on the contributions of current workers, and as the labor force dwindles, so does the money available.

Pushing through substantial reforms is counter-intuitive for our representatives. If they do the responsible thing and defer excess spending in the present, it will undoubtedly have a negative impact on their voter base. America’s political pastime of kicking the can down the road continues, but the options to keep this shell game going are running out.

Read more at: TheAntiMedia.org

Sources:

[1] MichiganRadio.org

[2] Governing.com

[3] WSJ.com

[4] Fortune.com

[5] Mercatus.org

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Jim Sinclair: Prepare for the biggest financial apocalypse in history /marketcrashnews/2016-12-16-jim-sinclair-prepare-for-the-biggest-financial-apocalypse-in-history.htmlv Fri, 16 Dec 2016 19:21:18 +0000 http://162.244.66.231/marketcrashnews/2016-12-16-jim-sinclair-prepare-for-the-biggest-financial-apocalypse-in-history Legendary gold and market expert Jim Sinclair believes that we have killed capitalism. He says that “Markets do not exist anymore . . . and you can’t time what does not exist.” Sinclair feels that a huge transition is underway and that our current system is beyond repair. A new system is on the way and the old one will end with a bang. Sinclair explains, “Right now, they’re eating each other, and the eventuality is, getting back to the steam pot, there is going to be a day when there is only going to be one shark left, one very fat shark left, and what happens next?  That shark starves to death because it ate all the food.  So, the end of this is the explosion of that steam cooker which is called capitalism.”

Sinclair points out that over-the-counter derivatives have outgrown world money availability. He blames high tech for “shooting the goose with the golden egg.” There used to be thousands of people gathered at the New York Stock Exchange, now there are just dozens. Sinclair believes there is no market in anything, including silver and gold. If rates on 10-year Treasury bonds break 3%, algorithms will all turn to the largest market in the world — interest rates.

We are going to see the fastest moving rates interest rates we’ve ever experienced. This will impact every derivative out there because all derivatives have an interest rate criteria. Gold is a storehouse of value, not a currency. It doesn’t need a market because it can be traded physically. China and Russia don’t buy gold as an investment, they buy it as a policy because they can’t see any solutions to the situation we are in. “They have killed us, and they have killed themselves. There is one fat shark out there that is now about to experience starvation,” said Sinclair.

Sinclair believes that when it’s all said and done, there will be a catastrophic big bang. The only thing left will be our savings accounts. Savings accounts will be the new gold because all currencies are falling in terms of being a storehouse of value. “Capitalism is finished,” Sinclair continues, “I can’t tell you what the next system will be, but capitalism is over because the heart of capitalism is markets.  Without markets, you cannot have a capitalistic system — it’s over.”

It seems as if the financial system is set to fail regardless of any counter-efforts. If we are headed into a new system, let’s hope it’s a better one.

Sources:

UsaWatchdog.com

SilverDoctors.com

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