
The EU is on the verge of a total meltdown and collapse. It has already happened in Greece. It is happening in Spain and Portugal. Soon, the entire EU will fall apart. What does that mean for America?
Credit to Common Sense

An obscure 300-year old interpretation of the Book of Daniel presents a precise calculation which indicates the prophet spoke of this year as bringing the end of days. One rabbi agrees, believing that Daniel’s ancient, hidden secrets are being revealed now as never before.Seventy weeks are decreed upon thy people and upon thy holy city, to finish the transgression, and to make an end of sin, and to forgive iniquity, and to bring in everlasting righteousness, and to seal vision and prophet, and to anoint the most holy place.” Daniel 9:24
And I heard the man clothed in linen, who was above the waters of the river, when he lifted up his right hand and his left hand unto heaven, and swore by Him that liveth for ever that it shall be for a time, times, and a half; and when they have made an end of breaking in pieces the power of the holy people, all these things shall be finished. Daniel 12:7
Hashem showed me, and behold two baskets of figs set before the temple of Hashem; after that Nevuchadretzar king of Bavel had carried away captive Yechonyah the son of Yehoyakim, king of Yehudah, and the princes of Yehudah, with the craftsmen and smiths, from Yerushalayim, and had brought them to Bavel. Jeremiah 24:1
לִפְנֵי הֵיכַל יְהוָה: אַחֲרֵי הַגְלוֹת נְבוּכַדְרֶאצַּר מֶלֶךְ-בָּבֶל אֶת-יְכָנְיָהוּ בֶן-יְהוֹיָקִים מֶלֶךְ-יְהוּדָה וְאֶת-שָׂרֵי יְהוּדָה וְאֶת-הֶחָרָשׁ וְאֶת-הַמַּסְגֵּר, מִירוּשָׁלִַם, וַיְבִאֵם, בָּבֶל.
And he said: ‘Go thy way, Daniel; for the words are shut up and sealed till the time of the end.’ Daniel 12:9
The 10-year Treasury yield jumped to 2.36% in late trading on Friday, the highest since December 2015, up 66 basis point since the election, and up one full percentage point since July!The 10-year yield is at a critical juncture. In terms of reality, the first thing that might happen is a rate increase by the Fed in December, after a year of flip-flopping. A slew of post-election pronouncements by Fed heads – including Yellen’s “relatively soon” – have pushed the odds of a rate hike to 98%.
The carnage in bonds has consequences. The average interest rate of the a conforming 30-year fixed mortgage as of Friday was quoted at 4.125% for top credit scores. That’s up about 0.5 percentage point from just before the election, according to Mortgage News Daily. It put the month “on a short list of 4 worst months in more than a decade.”
In a nascent administration that seems, at best, random in its beliefs, Bannon can seem to be not just a focused voice, but almost a messianic one:“Like [Andrew] Jackson’s populism, we’re going to build an entirely new political movement,” he says. “It’s everything related to jobs. The conservatives are going to go crazy. I’m the guy pushing a trillion-dollar infrastructure plan. With negative interest rates throughout the world, it’s the greatest opportunity to rebuild everything. Ship yards, iron works, get them all jacked up. We’re just going to throw it up against the wall and see if it sticks. It will be as exciting as the 1930s, greater than the Reagan revolution — conservatives, plus populists, in an economic nationalist movement.”
With an economy running at below 2%, consumers already heavily indebted, wage growth weak for the bulk of American’s, there is not a lot of wiggle room for policy mistakes.Combine weak economics with higher interest rates, which negatively impacts consumption, and a stronger dollar, which weighs on exports, and you have a real potential of a recession occurring sooner rather than later.