Money

Why Does Maryland Have The Most Millionaires Per Capita? The Answer Might Make You Angry
theeconomiccollapseblog.com
The fat cats in Washington D.C. are living the high life, and they are doing it at your expense.  Over the past decade, there has been one area of the country which has experienced a massive economic boom.  Thanks to wildly out of control government spending, the Washington D.C. region is absolutely swimming in cash.  In fact, at this point the state of Maryland has the most millionaires per capita in the entire nation and it isn’t even close.  If you have never lived there, it is hard [...]
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14 Signs That Most Americans Are Flat Broke And Totally Unprepared For The Coming Economic Crisis
theeconomiccollapseblog.com
When the coming economic crisis strikes, more than half the country is going to be financially wiped out within weeks.  At this point, more than 60 percent of all Americans are living paycheck to paycheck, and a whopping 24 percent of the country has more credit card debt than emergency savings.  One of the primary principles that any of these “financial experts” that you see on television will teach you is to have a cushion to fall back on.  At the very least, you never know when [...]
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Most Americans Are Slaves And They Don’t Even Know It
theeconomiccollapseblog.com
Most Americans spend their lives working for others, paying off debts to others and performing tasks that others tell them that they “must” do.  These days, we don’t like to think of ourselves as “servants” or “slaves”, but that is what the vast majority of us are.  It is just that the mechanisms of our enslavement have become much more sophisticated over time.  It has been said that the borrower is the servant of the lender, and most of us start goin [...]
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It’s Germany vs. Greece, And The Very Survival Of The Eurozone Is At Stake
theeconomiccollapseblog.com
Is this the beginning of the end for the eurozone?  On Thursday, Germany rejected a Greek request for a six-month loan extension.  The Germans insisted that the Greek proposal did not require the Greeks to adhere to the austerity restrictions which previous agreements had forced upon them.  But Greek voters have already very clearly rejected the status quo, and the new Greek government has stated unequivocally that it will not be bound by the current bailout arrangement.  So can Germany and [...]
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When It Comes To ISIS, Obama Is Utterly Clueless
theeconomiccollapseblog.com
The most savage group of Islamic terrorists that any of us have ever seen has taken over large portions of Iraq, Syria and Libya.  As they go along, they are gleefully beheading, crucifying and torching innocent civilians.  They believe that they are living in the end times, and that they are part of a great Islamic army that will defeat “the forces of Rome” and bring about a glorious new age during which Islam rules the entire planet.  But Barack Obama and his minions absolutely [...]
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Greece Rejects Bailout Deal – Deadline To Avoid Financial Chaos In Europe Is March 1st
theeconomiccollapseblog.com
Europe is on the verge of a horrifying financial meltdown, and there are only a few short weeks left to avert total disaster.  On Monday, talks that were supposed to bring about yet another temporary “resolution” to the Greek debt crisis completely fell apart.  The new Greek government has entirely rejected the idea of a six month extension of the current bailout.  The Greeks want a new deal which would enable them to implement the promises that have been made to the voters.  But [...]
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Why The Price Of Oil Is More Likely To Fall To 20 Rather Than Rise To 80
theeconomiccollapseblog.com
This is just the beginning of the oil crisis.  Over the past couple of weeks, the price of U.S. oil has rallied back above 50 dollars a barrel.  In fact, as I write this, it is sitting at $52.93.  But this rally will not last.  In fact, analysts at the big banks are warning that we could soon see U.S. oil hit the $20 mark.  The reason for this is that the production of oil globally is still way above the current level of demand.  Things have gotten so bad that millions of barrels of oil ar [...]
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Two More Harbingers Of Financial Doom That Mirror The Crisis Of 2008
theeconomiccollapseblog.com
The stock market continues to flirt with new record highs, but the signs that we could be on the precipice of the next major financial crisis continue to mount.  A couple of days ago, I discussed the fact that the U.S. dollar is experiencing a tremendous surge in value just like it did in the months prior to the financial crisis of 2008.  And previously, I have detailed how the price of oil has collapsed, prices for industrial commodities are tanking and market behavior is becoming extremely c [...]
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Feds Hold Hearing On Whether They Should ‘Regulate’ Sites Like Drudge, Infowars And The Economic Collapse Blog
theeconomiccollapseblog.com
The control freaks that run our government always seem to want to “regulate” things that they do not like.  And so it should be no surprise that there is a renewed push to regulate independent news websites.  Sites like the Drudge Report, Infowars.com and The Economic Collapse Blog have been a thorn in the side of the establishment for years.  You see, the truth is that approximately 90 percent of all news and entertainment in this country is controlled by just six giant media cor [...]
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Guess What Happened The Last Time The U.S. Dollar Skyrocketed In Value Like This?…
theeconomiccollapseblog.com
Over the past decade, there has been only one other time when the value of the U.S. dollar has increased by so much in such a short period of time.  That was in mid-2008 – just before the greatest financial crash since the Great Depression.  A surging U.S. dollar also greatly contributed to the Latin American debt crisis of the early 1980s and the Asian financial crisis of 1997.  Today, the globe is more interconnected than ever.  Most global trade is conducted in U.S. dollars, and muc [...]
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If You Listen Carefully, The Bankers Are Actually Telling Us What Is Going To Happen Next
theeconomiccollapseblog.com
Are we on the verge of a major worldwide economic downturn?  Well, if recent warnings from prominent bankers all over the world are to be believed, that may be precisely what we are facing in the months ahead.  As you will read about below, the big banks are warning that the price of oil could soon drop as low as 20 dollars a barrel, that a Greek exit from the eurozone could push the EUR/USD down to 0.90, and that the global economy could shrink by more than 2 trillion dollars in 2015.  Most [...]
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A Day Of Reckoning For The Euro Has Arrived – 26 TRILLION In Currency Derivatives At Risk
theeconomiccollapseblog.com
This is the month when the future of the eurozone will be decided.  This week, Greek leaders will meet with European officials to discuss what comes next for Greece.  The new prime minister of Greece, Alexis Tsipras, has already stated that he will not accept an extension of the current bailout.  Officials from other eurozone countries have already said that they expect Greece to fully honor the terms of the current agreement.  So basically we are watching a giant game of financial “ch [...]
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Only 44 Percent Of U.S. Adults Are Employed For 30 Or More Hours Per Week
theeconomiccollapseblog.com
Jim Clifton, the Chairman and CEO of Gallup, says that the percentage of Americans that are employed full-time has been hovering near record lows since the end of the last recession.  But most Americans don’t realize this because the official unemployment numbers are extremely misleading.  In fact, Clifton says that the official 5.6 percent unemployment rate is a “big lie”.  Gallup regularly tracks the percentage of U.S. adults that are employed for 30 or more hours per week [...]
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It Is About To Get Ugly: Oil Is Crashing And So Is Greece
theeconomiccollapseblog.com
The price of oil collapsed by more than 8 percent on Wednesday, and a decision by the European Central Bank has Greece at the precipice of a complete and total financial meltdown.  What a difference 24 hours can make.  On Tuesday, things really seemed like they were actually starting to get better.  The price of oil had rallied by more than 20 percent since last Thursday, things in Europe seemed like they were settling down, and there appeared to be a good deal of optimism about how global fi [...]
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Barack Obama Says That What America Really Needs Is Lots More Debt
theeconomiccollapseblog.com
When it comes to taking a chainsaw to the future of America, nobody seems more eager than Barack Obama.  Despite the fact that the U.S. national debt is on pace to approximately double during his eight years in the White House, he has just proposed a budget that would take government spending to crazy new heights.  When Barack Obama took the oath of office, the U.S. national debt was 10.6 trillion dollars.  Today, it has surpassed the 18 trillion dollar mark.  And even though we are being to [...]
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This Housing Chart Destroys The Arguments Of The Economic Optimists
theeconomiccollapseblog.com
Did you know that the rate of homeownership in the United States has fallen to a 20 year low?  Did you know that it has been falling consistently for an entire decade?  For the past couple of years, the economic optimists have been telling us that the economy has been getting better.  Well, if the economy really has been getting better, why does the homeownership rate keep going down?  Yes, the ultra-wealthy have received a temporary financial windfall thanks to the reckless money printing t [...]
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Birth Pangs Of The Coming Great Depression
theeconomiccollapseblog.com
The signs of the times are everywhere – all you have to do is open up your eyes and look at them.  When a pregnant woman first goes into labor, the birth pangs are usually fairly moderate and are not that close together.  But as the time for delivery approaches, they become much more frequent and much more intense.  Economically, what we are experiencing right now are birth pangs of the coming Great Depression.  As we get closer to the crisis that is looming on the horizon, they will b [...]
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The Next War In The Middle East Has Begun And Israel Vows ‘To Act Powerfully On All Fronts’
theeconomiccollapseblog.com
Israel and Hezbollah are at war.  On top of everything else that is going on in the world, now we have a new war in the Middle East, and nobody is quite certain what is going to happen next.  Israel has been preparing for this moment for more than 8 years.  So has Hezbollah.  According to some reports, Hezbollah has amassed an arsenal of 50,000 rockets since the end of the Hezbollah-Israel war in 2006.  If all-out warfare does erupt, we could potentially see tens of thousands of missiles ra [...]
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Why The Damage To The Economy Caused By The Oil Crash Is Going To Get Progressively Worse
theeconomiccollapseblog.com
We are really starting to see the price of oil weigh very heavily on the economy and on the stock market.  On Tuesday, the Dow was down 291 points, and the primary reason for the decline was disappointing corporate sales numbers.  For example, heavy equipment manufacturer Caterpillar is blaming the “dramatic decline in the price of oil” for much lower than anticipated sales during the fourth quarter of 2014.  Even though Caterpillar is not an “energy company”, the pric [...]
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The Shemitah: The Biblical Pattern Which Indicates That A Financial Collapse May Be Coming In 2015
theeconomiccollapseblog.com
Does a mystery that is 3,500 years old hold the key to what is going to happen to global financial markets in 2015?  Could it be possible that the timing of major financial crashes is not just a matter of coincidence?  In previous articles on my website, I have discussed some of the major economic and financial cycle theories and their proponents.  For example, in an article entitled “If Economic Cycle Theorists Are Correct, 2015 To 2020 Will Be Pure Hell For The United States“, I [...]
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Radical Leftists Win Election In Greece – Future Of Eurozone In Serious Jeopardy
theeconomiccollapseblog.com
Radical leftists have been catapulted to power in Greece, and that means that the European financial crisis has just entered a dangerous new phase.  Syriza, which is actually an acronym for “Coalition of the Radical Left” in Greek, has 36 percent of the total vote with approximately 80 percent of the polling stations reporting.  The current governing party, New Democracy, only has 28 percent of the vote.  Syriza leader Alexis Tsipras is promising to roll back a whole host of auste [...]
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This Is The Beginning Of The End For The Euro
theeconomiccollapseblog.com
The long-anticipated collapse of the euro is here. When European Central Bank president Mario Draghi unveiled an open-ended quantitative easing program worth at least 60 billion euros a month on Thursday, stocks soared but the euro plummeted like a rock.  It hit an 11 year low of $1.13, and many analysts believe that it is going much, much lower than this.  The speed at which the euro has been falling in recent months has been absolutely stunning.  Less than a year ago it was hovering near $1 [...]
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12 Signs That The Economy Is Really Starting To Bleed Oil Patch Jobs
theeconomiccollapseblog.com
The gravy train is over for oil workers.  All over North America, people that felt very secure about their jobs just a few weeks ago are now getting pink slips.  There are even some people that I know personally that this has happened to.  The economy is really starting to bleed oil patch jobs, and as long as the price of oil stays down at this level the job losses are going to continue.  But this is what happens when a “boom” turns into a “bust”.  Since 2003, drilli [...]
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Swiss Shocker Triggers Gigantic Losses For Banks, Hedge Funds And Currency Traders
theeconomiccollapseblog.com
The absolutely stunning decision by the Swiss National Bank to decouple from the euro has triggered billions of dollars worth of losses all over the globe.  Citigroup and Deutsche Bank both say that their losses were somewhere in the neighborhood of 150 million dollars, a major hedge fund that had 830 million dollars in assets at the end of December has been forced to shut down, and several major global currency trading firms have announced that they are now insolvent.   And these are just th [...]
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27 Facts That Show How The Middle Class Has Fared Under 6 Years Of Barack Obama
theeconomiccollapseblog.com
During his State of the Union speech on Tuesday evening, Barack Obama is going to promise to make life better for middle class families.  Of course he has also promised to do this during all of his other State of the Union addresses, but apparently he still believes that there are people out there that are buying what he is selling.  Each January, he gets up there and tells us how the economy is “turning around” and to believe that much brighter days are right around the corner.  [...]
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What In The World Just Happened In Switzerland?
theeconomiccollapseblog.com
Central banks lie.  That is what they do.  Not too long ago, the Swiss National Bank promised that it would defend the euro/Swiss franc currency peg with the “utmost determination”.  But on Thursday, the central bank shocked the financial world by abruptly abandoning it.  More than three years ago, the Swiss National Bank announced that it would not allow the Swiss franc to fall below 1.20 to the euro, and it has spent a mountain of money defending that peg.  But now that it loo [...]
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This Is Exactly How Markets Behave Right Before They Crash
theeconomiccollapseblog.com
When the stock market starts to behave like a roller coaster, that is a sign that a major move to the downside is right around the corner.  As I have stated repeatedly, when the market is very calm it tends to go up.  But when the waters start getting really choppy, that is a clear indication that stocks are about to plummet.  In early 2015, volatility has returned to Wall Street in a big way.  At one point on Tuesday, the Dow was up more than 300 points.  But then the bottom dropped out.  [...]
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Boom Goes The Dynamite: The Crashing Price Of Oil Is Going To Rip The Global Economy To Shreds
theeconomiccollapseblog.com
If you were waiting for a “black swan event” to come along and devastate the global economy, you don’t have to wait any longer.  As I write this, the price of U.S. oil is sitting at $45.76 a barrel.  It has fallen by more than 60 dollars a barrel since June.  There is only one other time in history when we have seen anything like this happen before.  That was in 2008, just prior to the worst financial crisis since the Great Depression.  But following the financial crisis o [...]
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