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12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost Here

Are we running out of time? For the last several years, we have been living in a false bubble of hope that has been fueled by massive amounts of debt and bailout money. This illusion of economic stability has convinced most people that the great economic crisis of 2008 was just an “aberration” and that now things are back to normal. Unfortunately, that is not the case at all.

The truth is that the financial crash of 2008 was just the first wave of our economic troubles. We have not even come close to recovering from that wave, and the next wave of the economic collapse is rapidly approaching. Our economy is like a giant sand castle that has been built on a foundation of debt and toilet paper currency. As each wave of the crisis hits us, the solutions that our leaders will present to us will involve even more debt and even more money printing. And each time, those “solutions” will only make our problems even worse. Right now, events are unfolding in Europe and in the United States that are pushing us toward the next major crisis moment. I sincerely hope that we have some more time before the next crisis overwhelms us, but as you will see, time is rapidly running out.

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, 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

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 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 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. 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.

#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.

#7 On Friday it was announced that the unemployment rate in Greece has now reached 27 percent, and it is being projected that it will reach 30 percent by the end of the year.

#8 The youth unemployment rate in Greece is now an almost unbelievable 59.4 percent.

#9 On Saturday, hundreds of thousands of protesters 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 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“…

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 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 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 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, 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“.

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

“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 are already experiencing 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?

Please feel free to post a comment with your thoughts below…

This article first appeared here at the Economic Collapse Blog.

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Underworld

US coronavirus medicine will cost $ 3120

Gilead Sciences, an American biopharmaceutical company, has announced the value of its coronavirus drug. The general course of treatment for 5 days will have a price tag of $ 2,340.

Until September, remdesivir will be sold only in the United States. The cost of a full course of treatment for people with private insurance is $ 3,120, for an ampoule – $ 520. For patients with state insurance, as well as for patients from other countries, the price of the drug will be $ 2,340 per course and 390 per bottle.

Remdesivir was approved in early May for the treatment of coronavirus in the United States. Although the drug was originally developed to combat Ebola, it was not able to show visible results against this disease. But later, the drug had an effect in the treatment of SARS and MERS infections.

A large clinical study by the National Institute of Allergology and Infectious Diseases showed that the drug reduced recovery time by an average of four days, but did not affect the number of deaths.

Since the United States has a fairly large network of insurance institutions, the importance of remdesivir is not only in its benefit to the patient, but also for the healthcare system.

“Based on the example of the United States, an earlier discharge from the hospital will save her about $ 12 thousand per patient,” said Daniel O’Day, director general of Gilead Sciences.

Since receiving permission for emergency use of the drug, Gilead Sciences has transferred remdesivir to hospitals to treat patients. The last batches of donated drugs were distributed on Monday, June 29th.

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Underworld

In Germany, for almost 30 years, the authorities secretly gave orphans to pedophiles

In Germany, the University of Hildesheim published the final report on the scandalous Kentler project – a terrifying social experiment, during which for about 30 years children were given up for adoption to pedophiles, calling it molestation “socialization” and “sexual education,” Deutsche Welle writes.

In the 1960s in Germany, people in some circles viewed sex with children not as taboo, but as something progressive. One of the key figures in such thinking was Helmut Kentler, professor of psychology and pedagogy in Berlin. For a long time he was considered a seer and one of the most prominent sexologists in Germany. His books on education sold well, he was a popular expert and commentator on radio and television, and held leading positions in the Berlin center for educational research. 

The psychologist founded the theory of “emancipatory sexual education”, suggesting that children have the right to express their sexuality. Beginning in the 1970s, he conducted clinical trials in which pedophiles were allowed to adopt homeless teenage boys aged 13 to 15 for their “mutual benefit”. According to Kentler, pedophiles could become particularly loving adoptive parents.

By 1988, the professor summed up the results of the first stage of the experiments, calling it successful. He argued that sexual relations between adoptive fathers and minors are harmless and help adolescents quickly adapt to society and facilitate the process of growing up. The fact that the boys entered into adulthood with a broken psyche did not bother Kentler.

The experiments were secret, but were carried out with the full approval of the authorities of West Berlin. In his papers, the psychologist wrote that he “managed to enlist the support of responsible local authorities”: from academic institutions to state social welfare services.

For many years, the professor managed to convince the authorities of the normality of his ideas, so he was never prosecuted by the court. By the time his victims made statements, his statute of limitations had expired. The scandal flared up only in 2015; Kentler himself died in 2008.

When the full-scale investigation began, it turned out that there was a whole network in which officials from the Berlin Office for Juvenile Affairs, the city Senate and a number of educational institutions were involved. All of them “accepted, supported and defended” the experiment and its adult participants. In addition, it was possible to establish that among the adoptive fathers were, including eminent scientists from the Max Planck Institute, the Free University of Berlin and the Odenwald school, which are now suspected of pedophilia. (By the way, the Odenwald school was already the subject of litigation in 2014, when a case was launched on the corruption of minor students.) According to Marco and Sven, who became victims of the experiment, one person, The suspect in involvement in this system – the former head of the youth welfare service – is still alive. However, no investigation has yet been made.

The first report on the Kentler experiment was published in 2016 by the University of Gottingen. Researchers then stated that the Berlin Senate did not seem interested in clarifying the truth.

Berlin senator for youth and children Sandra Sheres called the results of the investigation of the University of Hildesheim “shocking and terrifying.” She openly expressed her sympathy for the victims and condemned the crimes, which she calls “simply unimaginable.” Although the statute of limitations for these crimes has expired, Sheres promised financial compensation for the suffering.

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Underworld

Largest ever CIA cyber weapon secret data leak

The reason for the largest secret data leak in the history of the CIA in 2016 was the negligence of elite personnel who focused on creating a new cyber weapon to the detriment of improving the security of computer systems. 

This is written by the American publication The Washington Post with reference to the organization’s internal report, which was written in 2017.

It is noted that the leak was discovered only a year after it occurred, after the WikiLeaks organization published a large archive called “Vault 7”. At the same time, the report says that the CIA might not have known about the leak if WikiLeaks had not released the documents. 

“If the data got to the enemy state and remained secretly with them, we would not know anything about their loss,” the report said.

The authors of the documents also wrote that the exact size of the stolen information could not be established. It probably reaches 34 terabytes, or 2.2 billion pages. It is noted that the level of security system developed by the CIA cyber division was “terribly weak”.

After an internal investigation as a result of leakage under suspicion of transferring WikiLeaks about CIA operations data was Joshua A. Schulte, a former employee of the security services. He was one of the developers of programs that the CIA uses to hack into computers of people suspected of terrorism. In March 2020, the jury could not reach a verdict in the Schulte case.

The archive “Vault 7” mentioned software developed by the special service that allows access to phones running iOS and Android, computers running Windows and smart TVs by Samsung.

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