The global economy has become so incredibly unstable at this point that it is not going to take much to plunge the world into a horrific economic nightmare. The foundations of the world economic system are so decayed and so corrupted that even a stiff breeze could potentially topple the entire structure over. Over the past couple of months a constant parade of bad economic news has come streaming in from Europe, Asia and the United States. Signs of an impending economic slowdown are everywhere. So what "tipping point" will trigger the next global economic downturn? Nobody knows for sure, but potential tipping points are all around us.
Today, the global economic system is even more vulnerable than it was back in 2008. Virtually none of the systemic problems that contributed to the 2008 collapse have been fixed.
Mark Mobius, the head of the emerging markets desk at Templeton Asset Management, was recently was quoted in Forbes as saying the following....
There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis."
The "financial reform" law that Barack Obama and the Congress passed a while back was a complete and total joke. They might as well have written the law on toilet paper for all the good that it is doing.
Tipping Point #1: Syria
Tipping Point #2: Iran
Tipping Point #3: Libya
Tipping Point #4: More Revolutions In The Middle East
Tipping Point #5: Fukushima
Tipping Point #6: Oil Prices
Tipping Point #7: Government Austerity
Tipping Point #8: The European Sovereign Debt Crisis
Tipping Point #9: The Dying U.S. Dollar
Tipping Point #10: Drought
Are you concerned yet?
You should be.
But if you prefer some mindless pablum that will make you feel better, we have some of that for you too.
Larry Summers, the former director of the National Economic Council under Barack Obama, recently told CNBC the following....
"We definitely hit a slower patch, but I think the basic fact that the terrible financial strains we had are abating, remains in place, and I expect this recovery to continue for a substantial period of time."
Does that make you feel better?
Larry Summers says that everything is going to be okay.
It would be great if Summers was actually right, but sadly he is not.
In fact, the worst economic times that America has ever seen are ahead.
The following is a brief excerpt from a recent interview with Dmitry Orlov about the coming economic collapse that was posted on shtfplan.com....
First you have financial collapse, which is basically the volume of debt that has to be taken on in order for the economy to continue functioning, cannot continue. We’re seeing that right now in Greece, we’re probably going to see that in Japan, we’re definitely at a point now in the United States where even if you raised the income tax to 100 percent, there’s absolutely no way of covering the liabilities of the U.S. federal government. So, we’re at that point now but the workout of the financial collapse is not all quite there. We don’t quite have a worthless currency but that’s in the works.
That, of course, is followed by commercial collapseespecially in a country like the United States that imports two thirds of its oil. A lot of that is on credit and if a little bit of that oil goes missing then the economy starts to fall apart because nothing moves unless you burn oil in the United States and, of course, a lot of goods that are sold everywhere are imported again, on credit.
When the U.S. dollar dies and our financial system collapses we are not going to be able to get all of the things that we need from the rest of the world so cheaply any longer.
That is going to cause fundamental changes inside the United States.
Right now, the economic news just seems to get worse and worse, but this is just the beginning.
What is eventually going to happen in this country is going to be so nightmarish that most Americans could not even imagine it right now.
So are our leaders doing anything to prepare for the coming economic crisis?
No, they are too busy with other things.
The big political news of the day was U.S. Representative Anthony Weiner finally admitting that he sent out lewd photos of himself over Twitter to women that he was not married to.
We have become the laughingstock of the world and the economic collapse has not even happened yet.
THe Economic Collapse
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