People will be crying; they will be scratching their heads in disbelief, shaking and trembling, but nothing will stop the blistering carnage of the
next economic meltdown.The greatest bubble in history is
unfunded liabilities, and the biggest financial bubble is treasury bonds.
America is so overrated, and anyone who has ever visited it and seen firsthand that what Hollywood sells is not reality, knows this very well.
I think highly of America's enterprises, its leading corporations, but the masses - probably more than half of the country - are
oblivious to their own predicament and lack of preparation in advance of a slowdown.
10 years - that's how long this expansion has been happening; how much does the average person have saved up? NOT MUCH, I can tell you that.
© Zerohedge
Global stocks have an INHERENT 40% downside potential right now.Billionaires are not warning and cautioning for nothing; they're worried about this unprecedented time of monetary stimulus.
I am amazed by the amount of debt that is needed to generate growth; the planet wants to DELEVERAGE, to become normal again, to get back to equilibrium,
but central banks are attempting to push back against the natural flow of life.In the process, they've inflated a balloon that has benefited the already-rich.We had one year of real-world economics in 2018 and what happened? 93% of assets were DOWN for the year.You cannot sleep at the helm, knowing all of this.
Take inventory now:
- Is your career path one that can grow MUCH faster than the general curve of the country you're residing in? If the answer is NO, then you're in deep trouble.
- Do you have the equivalent of 2 years of expenses, saved up and liquid? If not, a meltdown will introduce hardship to your life.
- Are you reading, growing, investing in cash flow and networking? These are four critical activities to be embarking on in the 21st century.
We are in the THINKING century, not the doing one.America is a land of corporate wealth, at the expense of wages. The S&P 500 has beaten all other methods for 34 years in a row.The reason is that high-level executives have thrown the middle class to the wolves, thus increasing profit margins by outsourcing.
The problem is that the masses are ignorant of the risks and they'll be on the streets soon!
Comment: See Gregg Hunter's
recent interview with Michael Snyder as well. The bleak picture presented above is indeed corroborated.
Debt Bubble to End All Bubbles
Journalist and book author Michael Snyder says corporate debt is at record highs standing at $10 trillion. Snyder points out debt is setting records in every aspect of the economy and contends, "If you include all other forms of corporate debt not listed on the stock exchanges, that brings the total to $15.5 trillion, which is equivalent to 74% of GDP. We've never seen anything like this before in all of U.S. history. That is just one form of debt and how our society has grown the debt. People need to realize the only reason why we have any prosperity in this country today is because it is fueled by debt.
We have been building up this bubble, and it is the bubble to end all bubbles. Look at consumers. U.S. consumers are now $14 trillion in debt, which is an all-time record. State and local governments are at all-time debt record levels. The U.S. government . . . we just hit $23 trillion in debt, more than double since the last financial meltdown. . . . We are stealing from future generations more than $100 million every single hour of every single day. This is a crime beyond comprehension, and it's been going on more than a decade. . . .All the debt has bought for us is more time to expand the bubble for relative stability. Meanwhile, we are literally committing national suicide and literally destroying the future of this country and the future of this republic. We are destroying everything the founders built by insatiable greed in this generation."
Snyder says you don't have to wait for the next recession because it's already started. Snyder says, "Eventually, this whole thing is going to come crashing down. This thing is not sustainable. Here in the United States, we are already in a manufacturing recession. We are already in a transportation recession. We're already in a corporate earnings recession. We are already in trouble that I document regularly on my website. We are already seeing dozens of data points that an economic slowdown is already happening. This is what we will notice first.
We will go into a recession, and things are going to start getting bad, but beyond that . . . we are headed for the Greatest Depression. It's the perfect storm. . . . We are talking about the breakdown of trade with China. . . . We have witnessed the complete and total breakdown of relations between the United States and China. . . . They (China) view us (America) as their primary global enemy. So, there is not going to be any kind of comprehensive trade agreement. You can forget that, and that has been one of the only things holding this stock market up."
Snyder says no China trade deal will cause the stock market to "lose hope for the future." Snyder predicts stocks will "fall at least back to its long term averages, which is 40% to 50% lower than stocks are today."
Snyder also says, "The system is failing. People that have faith in Wall Street, people that have faith in Washington, people that have faith in the Federal Reserve and in the system, ultimately, they are going to be extremely, extremely disappointed. Most Americans are going to be blindsided by this, and most people have no idea what's coming, absolutely no idea. We're not just talking about Mad Max. We're not just talking about Armageddon. We're talking about the end of America. In the long term, if you want to prepare, you need to prepare for the end of our country."
Join Greg Hunter as he goes One-on-One with Michael Snyder, creator of TheEconomicCollapseblog.com.
Comment: See Gregg Hunter's recent interview with Michael Snyder as well. The bleak picture presented above is indeed corroborated.
Debt Bubble to End All Bubbles