More and more voices and forecasters are joining the growing chorus of this dark song, and are sounding the alarm for an upcoming global market collapse by the end of this year — a market failure never witnessed before in human history. While you yourself may be seemingly out of the stock market, think again — you will be affected, as will everyone else.
Here’s what has recently been said:
“Rarely do I ever put a date on market crashes. I did it in 1987 when I forecast the 1987 stock market crash — that was in the Wall Street Journal. I also forecast the ‘Panic of 2008,’ and the ‘dot-com bust’ in October of 1999, when I said it (the dot-com mania) would fail in the second quarter of 2000…”
“I’m now predicting that we are going to see a global stock market crash before the end of the year.”
“It’s not only going to be the Dow, it’s going to be the DAX, the FTSE, the CAC, Shanghai, and the Nikkei. There’s going to be panic on the streets from Wall Street to Shanghai and from the UK down to Brazil. You are going to see one market after another begin to collapse.”
“I think it’s pretty obvious that the top is in,” the Reagan administration’s OMB director said Thursday on CNBC’s “Futures Now.” Excessive monetary policy from central banks around the world has created a “debt supernova,” and all the signs point to “the end of the central bank enabled bubble,” which could cause a worldwide recession (or worse).
“The world economy, including the U.S., is heading into what is clearly going to be an epochal deflation to the likes of what we have never experienced in modern time.”
“The point that I’m making is that it’s over.”
“It’s a huge disaster waiting to happen.”
While the number of Americans who are no longer in the labor force rise to a current record 93.8 million level, the participation rate hasn’t been this low since 1977. While that’s bad enough, when the global market collapse hits, it’s going to get much worse.
By the way, did you know that if there’s only just one American left working in the United States, that the government would proclaim 0% unemployment (such a happy figure!) so long as all the rest of the unemployed have fallen off their unemployment benefits (they don’t count them anymore)? If you and all your family and friends are no longer working, will you still believe the government mouthpiece nightly news when they spout those figures? (It’s amazing to me…) But I digress.
The global debt bubble will burst. Many more are joining in saying that it’s nearly upon us. What can we do about it? Nothing, except examine our own readiness.
Perhaps check your 401K and move out of ‘stocks’ if your company lets you. Adjust your portfolio (if you’re fortunate enough to have one) to a position which may better ride the storm. Look at your household budget and figure out what would happen if you or your spouse lost their job. Maybe stock up with some extra food.
What’s your opinion?
If the markets collapse, how bad do you think it might be? 10%? 20%? 30%? 50%? Worse?
Will the follow-on effects be a delayed reaction or more immediate?
What are some of the effects (results) that might affect you and I?
Do you think this will just be a big bump in the road? Or will this be more like a bridge collapse? Or worse?
If you are one of those who are concerned about an upcoming financial collapse, what are you doing to prepare for it? What should others be doing in your opinion?
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