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Some
harsh facts
The Purpose of the
Economic Meltdown
Economic dirty bomb goes off in
New York
By Tom Engelhardt
"The streets and people of New York are devastated for
the second time in a decade. This time, the culprits
behind the wrecked
lives and ruined livelihoods are not foreign extremists,
but homegrown. And rather than receive appropriate
retribution, the
perpetrators receive billions of government dollars for
their demolition job."
GLOBAL POST-CRISIS ECONOMIC
OUTLOOK, Part 1
By Henry CK Liu
The crisis of wealth destruction. [This is the first
article in a series]
OLS - The Economy Is Going To Get
Worse
Gerald Celente January 2010 - All signs point to the
economy getting worse here in the US! People need to
wake up to the
realality of this situation and prepare themselves and
their families. We all are hopeful, but there are some
turbulant times ahead,
which all of us have to go through....Video
Is Greece Just the Tip of the
Iceberg?
Now it's a done deal: Greece got its $146 billion
bailout, which the U.S. will help pay for. But anyone
who believes the Western
world's financial crisis is over doesn't understand
what's really happening.
World Agenda: Eastern Europe's
economic collapse stalks the West
The gold rush in Eastern Europe is now over. The global
virus is bringing half the continent to its knees and
suddenly it is becoming clear to western leaders that
big trouble lies ahead: for those who put their money
into the sure-fire emerging markets portfolios, and
those who believed that the eurozone was an oasis of
stability.
Huge National Debts Could Push
Euro Zone into Bankruptcy
Greece is only the beginning. The world's leading
economies have long lived beyond their means, and the
financial crisis caused government debt to swell
dramatically. Now the bill is coming due, but not all
countries will be able to pay it.
Société Générale tells clients how
to prepare for potential 'global collapse'
18 Nov 2009
Société Générale [one of the main European financial
services companies and one of the oldest banks in
France] has advised
clients to be ready for a possible "global economic
collapse" over the next two years, mapping a strategy of
defensive
investments to avoid wealth destruction.
Euro Debt Crisis, Latvia and the
PIGS
Mar 16, 2010
But the storm clouds now gathering are not just over
Greece; the entire western world is still very much in
fiscal crisis. The investment bank Societe Generale
recently published a frightening estimate of the real
liabilities of Western governments, including off
balance sheet debts. In every case the numbers,
including unfunded pension fund liabilities, dwarf the
official debt position. Greece is by far the worst
because of what Otmar Issing, the German former chief
economist of the European Central Bank, described with
German tact as “one of the most luxurious pension
systems in the world”. Its total net liabilities are 800
per cent of GDP – eight times the official position. For
the US , it is 550, the UK 400, Germany 400, France 550,
Italy 350 and Spain 250. In other words, the entire
western world is insolvent and each country is facing
its own day of reckoning – starting, appropriately
enough, in Greece, the home of western civilisation.
The Coming Economic Collapse Of
Japan – And Why You Should Be Extremely Concerned About
It
So just how close is Japan to a financial collapse?
Well, Fitch Ratings says that Japan's gross public debt
has reached 201
percent of GDP and is likely to continue to pile up into
very dangerous territory for the foreseeable future. It
is estimated that this
gigantic mountain of debt amounts to 7.5 million yen for
every person living in Japan. Needless to say this is
extremely
troubling. Japan has the highest level of public debt to
GDP of any of the industrialized nations. Japan is
literally drowning in red
ink.
Sovereign debt crisis at ‘boiling
point’, warns Bank for International Settlements
The Bank for International Settlements does not mince
words. Sovereign debt is already starting to cross the
danger threshold in the United States, Japan, Britain,
and most of Western Europe, threatening to set off a
bond crisis at the heart of the global economy.
A $516 trillion derivatives
'time-bomb'
12 October 2008
Not for nothing did US billionaire Warren Buffett call
them the real 'weapons of mass destruction'. The market
is worth more than $516 trillion, (£303 trillion),
roughly 10 times the value of the entire world's output:
it's been called the "ticking time-bomb". It's a market
in which the lead protagonists – typically aggressive,
highly educated, and now wealthy young men – have
flourished in the derivatives boom. But it's a market
that is set to come to a crashing halt – the Great
Unwind has begun.
The $531 Trillion Dollar
Derivatives Time Bomb
01.09.2009
Titanic Derivatives
Derivatives crash could blow up
the global economy
May 10, 2010
The derivatives market is now estimated at $700 trillion
(notional, or face, value, not market value). The
world's gross domestic product in 2009: $69.8 trillion;
America's, $14.2 trillion. The total market cap of all
major global stock markets? A mere $30 trillion. And the
total amount of dollar bills in circulation, most of
them abroad: $830 billion (not trillion).
Fact or fiction...you
decide.
Some interesting online videos that
hopefully stimulate your brain neurons and get you
thinking
' Worst economic collapse ever'
Gerald Celente on Greece Riots
Reaching a Boiling Point
Gerald Celente : "one of our top trends of 2010 is the
crash of 2010 , we have foretasted in December of 2009
that the global economy is going to collapse , and one
of the primary reasons behind it is going to be a
currency crisis , it's underway they can't stop it from
happening , by the way what's going on in Greece with
the IMF and the Economic Monetary Union bailout it's
against the Maastricht agreement they are not supposed
to be doing this , this is only a temporary fix it is
not going to work , so as this fails we gonna see
another crisis pile up upon it we are seeing before the
new year of 2011 begins everyone will know that the
crash of 2010 has occurred "
The Economic Collapse
Part 2
'America will
collapse'
US Debt Formula (
Unsustainable + Economic Collapse )
Peter Schiff
predictions
Economic Collapse 2.0
- The Coming Food Crisis - Part 10 |
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What is
happening in the USA will be happening across the world
U.S. Home Seizures Reach Record as
Recovery Delayed
May 13 (Bloomberg) -- U.S. home foreclosures climbed to
a record in April, a sign that government mortgage
relief efforts have
yet to turn the tide of property seizures, according to
a report by RealtyTrac Inc.
U.S. House Prices Crash To $6,000
in Detroit
Detroit house auction flops for
urban wasteland
Despite a minimum bid of $500, less than a fifth of the
Detroit land was sold after four days.
Detroit To Destroy 10,000
Abandoned Homes
DETROIT—Wrecking crews are preparing to tear down a
landmark 5,000-square-foot house in the posh
neighborhood of Palmer Woods in the coming weeks, a sign
that Detroit is finally getting serious about razing
thousands of vacant and abandoned structures across the
city.
Detroit Housing: Median Price,
1994-2010
March 22, 2010
On March 21, 2009 - one year ago - this chart was posted
on the Seeking Alpha site.
The price was about $41,000 in 1994. The housing bubble
pushed this to a little under $98,000 in 2004. In 2009,
it was $13,600. Today, it is about $7,000.
Imagine buying a home for $13,600 and seeing it fall to
$7,000 in one year.
We are seeing a collapse like no other in modern history
in peacetime, anywhere.
Detroit family homes sell for just
$10
12 Mar 2010
Family homes in Detroit are selling for as little as $10
(£6) in the wake of America's financial meltdown.
Falling Housing Values: No Longer
Just a Detroit Problem
One in 7 US Homeowners Late Paying
or In Foreclosure
About half of U.S. mortgages seen
underwater by 2011
(Reuters) - The percentage of U.S. homeowners who owe
more than their house is worth will nearly double to 48
percent in 2011 from 26 percent at the end of March,
portending another blow to the housing market, Deutsche
Bank said on Wednesday.
50% of Home Owners Will Face
Negative Equity by 2011
Analysts at Deutsche Bank say that the number of
homeowners whose home value is less than what they owe
on mortgage loans will double to 48% by 2001; currently
26% of homeowners have negative home equity.
Warning that house prices may fall
by 80%
HOUSING MARKET: IRELAND WILL see more demolition than
construction of houses over the next decade, as the
economy
struggles to recover from the collapse of the housing
market and the emergence of “zombie” banks, UCD
economist Morgan Kelly told the conference. . .
In a presentation that drew several collective intakes
of breath, Mr Kelly predicted that house prices would
fall by 80 per cent
from peak to trough in real terms.
Tent City, USA —
Homeless Populations on the Rise
Tent Cities Across
the Country Welcome to Our Greatest Depression
Hunger Report 2010
Hunger is increasing at an alarming rate in the United
States
Food Stamp Use Soars, and Stigma
Fades
November 28, 2009
With food stamp use at record highs and climbing every
month, a program once scorned as a failed welfare scheme
now helps
feed one in eight Americans and one in four children. .
.
It has grown so rapidly in places so diverse that it is
becoming nearly as ordinary as the groceries it buys.
More than 36 million
people use inconspicuous plastic cards for staples like
milk, bread and cheese, swiping them at counters in
blighted cities and
in suburbs pocked with foreclosure signs.
Food Stamp Tally Nears 40 Million,
Sets Record
Nearly 40 million Americans received food stamps -- the
latest in an ever-higher string of record enrollment
that dates from December 2008 and the U.S. recession,
according to a government update.
More Cities on Brink of Bankruptcy
[USA]
The possibility of a bankruptcy filing by the city of
Harrisburg, Pa., the state capital, looms large these
days—and it could
be the first in a series, say some Wall Street traders.
The
long term future of millions
The Disposable Worker
January 7, 2010
Pay is falling, benefits are vanishing, and no one's job
is secure. How companies are making the era of the temp
more than temporary.
Thoughts on Leading and Managing
in the Era of Disposable Workers
January 13, 2010
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