Signs of economic collapse - 01/18/2015

I could go on ad finitem collecting evidence of the global economic meltdown. This is all I've got time and energy for.

Hollande: France Is in An "Emergency Economic Situation"

France will spend more than 2 billion euros on the implementation of several measures aimed at combating unemployment, the head of state Francois Hollande said on Monday.

"These measures (to combat unemployment – ed.) will require a significant budgetary effort, more than 2 billion euros — and this concerns education and employment. This 2 billion will not be obtained through taxation, but through savings," said Hollande. According to the leader of France, "The country is in an emergency economic situation", and new measures to counter this are immediately need .

Stopping the curve of growth of unemployment was one of the main electoral promises of Hollande. In December in a new year address to the nation the President noted that the fight against unemployment in the country remains his priority, and announced additional measures aimed at creating jobs.

This Is Not 2008, It’s Much Worse Warns 

 One Of The Top Economists In The World

Today one of the top economists in the world sent King World News an incredibly powerful piece warning that this is not 2008, it’s much worse.  Below is the fantastic piece from Michael Pento.

The S&P 500 has begun 2016 with its worst performance ever. This has prompted Wall Street apologists to come out in full force and try to explain why the chaos in global currencies and equities will not be a repeat of 2008. Nor do they want investors to believe this environment is commensurate with the Dot.Com Bubble that caused the NASDAQ to plummet 78% and the S&P 500 to shed 35% of its value. In fact, they claim the current turmoil in China is not even comparable to the 1997 Asian Debt Crisis: when dollar-denominated debt loads couldn’t be repaid and the Thai baht lost half its value, and the stock market dropped 75%…

Why This Slump Has Legs

 

Berenice Abbott Columbus Circle, Manhattan 1936

We’ve only really been in two weeks of trading in the new year, things are looking pretty bad to say the least, so predictably the press are asking -and often answering- questions about when the slump will be over. Rebound, recovery, the usual terminology. When will we get back to growth?

ALERT: Legend Warns This Will Be The Worst Crisis The World Has Ever Experienced

 

On the heels of more carnage in global markets to start the new year, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, warned this will be the worst crisis the world has ever experienced.

Very few problems start in the centre. Instead trouble normally starts in the periphery. When an empire falls, it is normally the furthest away provinces where trouble starts. It seems insignificant at the time and therefore is ignored by the rulers. Eventually the problem reaches the centre but then it is too late to do anything about it…

Worldwide Crash Gaining Momentum But The Real Terror Is Still To Come

After chaotic trading to open 2016, today King World News is featuring a powerful interview with one of the greats in the business that warns the worldwide crash is gaining momentum but the real terror lies ahead.

James Turk:  “There is one key financial measure that all KWN readers and listeners should be focused on throughout 2016, Eric, which is likely to be a momentous year. It is the US government’s interest expense burden. Worryingly, the overall state of the federal government’s financial condition is frightful…

Oil price falls below $28 a barrel, or less than the cost of an actual barrel

The oil price has continued to slide after the lifting of economic sanctions against Iran

Not everyone agreed with the RAC when it said that petrol could become cheaper than bottled water.

RAC wagered that if the price of oil slid below $20 barrel, it could push petrol prices to 90p a litre - while a fall to $10 a barrel or less could see petrol sold at 86p a litre, or cheaper than a bottle of water.

 

David InglesVerified account‏@DavidInglesTV

So at $30/Barrel - WTI is now over 60 times cheaper than a bottle of sparkling water. Perrier (per Barrel) $1850

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9:07 AM - 13 Jan 2016

But only if you are a water snob, according to the Hydration Council, who emailed us to say that the average price of a litre bottle of water, purchased in a multi-pack, is 38p. Take that, Perrier drinkers.

The oil price has continued to slide after the lifting of economic sanctions against Iran. The newly liberated country is expected to pump fresh reserves of oil into an already oversupplied market, making oil even cheaper.

On Monday, the price of a barrel of Brent Crude dropped below $28 and Twitter started fighting over things that are more expensive than a barrel of oil, including a barrel