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16 Facts About The Tremendous Financial Devastation That We Are Seeing All Over The World

As we enter the second half of 2015, financial panic has gripped most of the globe.  Stock prices are crashing in China, in Europe and in the United States.  Greece is on the verge of a historic default, and now Puerto Rico and Ukraine are both threatening to default on their debts if they do not receive concessions from their creditors.  Not since the financial crisis of 2008 has so much financial chaos been unleashed all at once.  Could it be possible that the great financial crisis of 2015 has begun?  The following are 16 facts about the tremendous financial […]

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Never mind Greece, look at China

While all eyes are focused on Greece, there is a potentially far more important crash going on. Via Sober Look comes this pair of charts: China’s stock market is crashing. It’s very evidently a bubble bursting. The question is, what will be the knock-on effect to the Chinese economy, and indeed to the whole of South East Asia, Brutal sell-offs of this kind are rarely without economic cost, especially when the bubble is debt financed (as this one is). I can’t see this ending well. Related reading: China stocks are battered anew – WSJ Coppola Comment

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And So It Begins – Greek Banks Get Shut Down For A Week And A ‘Grexit’ Is Now Probable

Is this the beginning of the end for the eurozone?  For years, European officials have been trying to “fix Greece”, but nothing has worked.  Now a worst case scenario is rapidly unfolding, and a “Grexit” has become more likely than not.  On Sunday, the European Central Bank announced that it was not going to provide any more emergency support for Greek banks.  But that was the only thing keeping them alive.  In order to prevent total chaos, Greek banks have been shut down for at least a week.  ATMs are still open, but it is being reported that daily withdrawals […]

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Cash Is King in a Depression… Just Ask the Mafia

Many people are aware that the mob made a fortune in illegal alcohol due to Prohibition in the Roaring ’20s. But most aren’t aware of how they made their greatest profits during the Great Depression: They became loan sharks. One of the rising mob bosses was “Lucky” Luciano in New York. With the help of Meyer Lansky — the ultimate financial genius, also called the “Mob’s Accountant” — and the infamous Bugsy Siegle, he implemented a strategy that helped the mob thrive during one of the worst downturns in history. It was a simple matter of supply and demand. When […]

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The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015

I have never done anything like this before.  Ever since I started The Economic Collapse Blog in late 2009, I have never issued any kind of “red alert” for any specific period of time.  As an attorney, I was trained to be level-headed and to only come to conclusions that were warranted by the evidence.  So this is not something that I am doing lightly.  Based on information that I have received, things that I have been told, and thousands of hours of research that have gone into the publication of more than 1,300 articles about our ongoing economic collapse, […]

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Morality in the Greek crisis

I know I keep saying that economics is not a morality play. But when it comes to Greece, I can find no other satisfactory explanation for what is going on.  The harsh treatment meted out to Greece over the last five years makes no economic sense whatsover. It has driven Greece into a deep depression that not only makes its government budget unsustainable but renders its debt unpayable: it has not only caused poverty and distress among Greece’s population, but it has driven businesses into bankruptcy and done serious damage to the supply side of Greece’s economy. And yet creditors […]

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This Disruptive Technology Could Change the Future of Agriculture

When a business closes and gets kicked out of its building, it’s common for another business to sign a lease… especially on valuable real estate. But this might be one of the weirdest exchanges I’ve ever heard. Newark is the largest city in New Jersey. It’s a major commercial destination. The last thing you’d expect to grow in the middle of a place like this, is a farm. A new startup called AeroFarms recently acquired an old nightclub in the middle of Newark, and cleared the dance floor to make room for a 15-foot-high stack of planters. They’ve also signed a […]

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The Liquidity Crisis Intensifies: ‘Prepare For A Bear Market In Bonds’

Are we about to witness trillions of dollars of “paper wealth” vaporize into thin air?  During the next financial crisis, a lot of “wealthy” investors are going to be in for a very rude awakening.  The truth is that securities are only worth what someone else is willing to pay for them, and that is why liquidity is so important.  Back on April 17th, I published an article entitled “The Global Liquidity Squeeze Has Begun“, but it didn’t get nearly as much attention as many of my other articles do.  But now that the liquidity crisis is intensifying, hopefully people […]

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Does The IMF Actually Want To Cause A Greek Debt Default?

When it comes to geopolitics, there are often wheels working within wheels that are working within wheels.  Once in a while we get a peek behind the scenes, but for the most part the machinations of the global elite remain shrouded in mystery most of the time.  And sometimes the global elite appear to be doing things that, on the surface, do not seem to make much sense at all.  What is going on in Europe is a perfect example of this.  If everyone was negotiating honestly, I believe that a Greek debt deal would have been reached by now.  […]

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BP Data Suggests We Are Reaching Peak Energy Demand

Some people talk about peak energy (or oil) supply. They expect high prices and more demand than supply. Other people talk about energy demand hitting a peak many years from now, perhaps when most of us have electric cars. Neither of these views is correct. The real situation is that we right now seem to be reaching peak energy demand through low commodity prices. I see evidence of this in the historical energy data recently updated by BP (BP Statistical Review of World Energy 2015). Of course, Growth in world energy consumption is clearly slowing. In fact, growth in energy consumption […]

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