21 Signs That The Global Economic Crisis Is About To Go To A Whole New Level

The following are 21 signs that the global economic crisis is about to go to a whole new level….

#1 Bank of Israel Governor Stanley Fischer says that the global economy is “awfully close” to recession.

#2 It was announced last week that the unemployment rate in Greece has reached an all-time high of 25.1 percent. Unemployment among those 24 years old or younger is now more than 54 percent. Back in April 2010, the unemployment rate in Greece was only sitting at 11.8 percent.

#3 The IMF is warning that Greek debt may have to be “restructured” yet again.

#4 Swedish Finance Minister Anders Borg says that it is “probable” that Greece will leave the euro, and that it might happen within the next six months.

#5 An angry crowd of approximately 40,000 angry Greeks recently descended on Athens to protest a visit by German Chancellor Angela Merkel…


From high-school students to pensioners, tens of thousands of Greek demonstrators swarmed into Athens yesterday to show the visiting German Chancellor, Angela Merkel, their indignation at their country’s continued austerity measures.

Flouting the government’s ban on protests, an estimated 40,000 people – many carrying posters depicting Ms Merkel as a Nazi – descended on Syntagma Square near the parliament building. Masked youths pelted riot police with rocks as the officers responded with tear gas.

The authorities had deployed 7,000 police, water cannon and a helicopter. Snipers were placed on rooftops to ensure the German leader’s safety.

#6 The debt crisis is Argentina is becoming increasingly troublesome.

#7 The government debt to GDP ratio in Italy is expected to hit 126 percent this year. In Greece, it is expected to hit198 percent. In Japan, it is expected to hit a whopping 237 percent.

#8 Standard & Poor’s has slashed the credit rating on Spanish government debt to BBB-, which is just one level above junk status.

#9 Back in the year 2000, the ratio of total debt to GDP in Spain was 192 percent. By 2011, it had reached 363 percent.

#10 Record amounts of money are being pulled out of Spanish banks, and many large Spanish banks are rapidly heading toward insolvency.

#11 Manufacturing activity in Spain has contracted for 17 months in a row.

#12 It is being projected that home prices in Spain will fall by another 15 percent by the end of 2013.

#13 The unemployment rate in France is now above 10 percent, and it has risen for 16 months in a row.

#14 There are signs that Switzerland may be preparing for “major civil unrest” throughout Europe.

#15 The former top economist at the European Central Bank says that the ECB has fallen into a state of “panic” as it desperately tries to solve the European debt crisis.

#16 According to a recent IMF report, European banks may need to sell off 4.5 trillion dollars in assets over the next 14 months in order to meet strict new capital requirements.

#17 In August, U.S. exports dropped to the lowest level that we have seen since last February.

#18 Economics Professor Barry Eichengreen is very concerned about what is coming next for stocks in the United States…


“I’m worried that stock markets in the United States in particular have gotten ahead of economic growth”

#19 During the week ending October 3rd, investors pulled more than 10 billion dollars out of U.S. mutual funds. Overall, a total of more than 100 billion dollars has been pulled out of U.S. mutual funds so far this year.

#20 As I wrote about the other day, the IMF is warning that there is an “alarmingly high” risk of a deeper global economic slowdown.

#21 When shipping companies start laying off workers, that is one of the best signs that economic activity is slowing down. That is why it was so troubling when it was announced that FedEx is planning to get rid of “several thousand” workers over the coming months. According to AFP, “its business is being hit by the global economic slowdown”.
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shipping is slowing down.
this should be the begining of the busy season.
not only is retail shipping not picking up.
normal freight is slowing down.

And the dominoes continue to fall faster and faster. The snowball effect will get bigger and bigger exponentially as time advances. As soon as people see the snowball on the horizon the panics will start. Small at first, but as people see the ball is getting bigger and bigger the sense of urgency escalates. This, of course, causes the ball to get bigger even faster than before. The snowball will crash against the walls of society and bust through them causing havoc throughout the structure.

This is the inevitable scene that is to unfold in the coming months/ few years. It's going to get worse before it gets better.

All of this is inevitable due to the structure of the world standard monetary system that is based on debt. Debt begets greater debt without creating the interest to pay off the debt. The only way to continue the system is to exponentially expand and/or exponentially increase the efficiency of the world economy, which it is now incapable of doing.

I saw this coming years ago as others did. If we don't come up with a better transaction system and implement it before everything is about to be destroyed humanity will either cease to exist or be ruled by a few thugs with too much power.

People need to see an inevitable collapse before they actually start seriously searching for an alternative to the collapsing system. Hopefully, a positive, non-elite alternative emerges before complete collapse so people can invest and grow it fast enough to take over the world economy or at least most of it. We don't want to lose a large portion of humanity to this cataclysm.

Oh, and if anyone suggests we go back to the debt based monetary system after transfer over to a better system they deserve a bullet in the head in my opinion... completely serious right there.

Debt is slavery, remember that!

Shipping Slowing down?

Yeah that's a bad sign...

But Fed Ex stuff? That's things like Postage...

Meanwhile in Australia...

news.com.au

AUSTRALIA Post will pay $408 million to buy Qantas out of freight group StarTrack Express as the postal giant moves to cash in on an explosion in parcel volumes.

The issue I have right now is that world is facing far to many fires, political, social, economic etc.. each of which are bad enough on their own, but when combined as a whole makes the fire fighting the establishment are trying almost impossible to overcome, just one fire left unchecked could set the dominoes falling.

Am guessing we are getting close to breaking point.. far to many fires being ineffectively fought..

reply to post by q13ert

#16 According to a recent IMF report, European banks may need to sell off 4.5 trillion dollars in assets over the next 14 months in order to meet strict new capital requirements.

you might have that wrong. They are told NOT to sell off assets, unless they are not credit generating assets.

Although some deleveraging is both inevitable
and desirable, its precise impact depends on the
nature, pace, and scale of asset shedding. The EBA
explicitly discouraged banks from shedding assets
to meet the 9 percent capital target, by requiring
that banks cover the shortfall mainly through capital
measures.

Asset sales would be recognized toward
achievement of the EBA target only if they do not
lead to a reduced flow of lending to the economy. So
far, deleveraging has occurred predominantly through
buttressing capital positions and reducing noncore
activities, leaving the impact on the rest of the world
manageable.

It is essential to continue to avoid a
synchronized, large-scale, and aggressive trimming of
balance sheets that could do serious damage to asset
prices, credit supply, and economic activity in Europe
and beyond.

here is this(Global Financial Stability Assessment) report. It is the 3 stages Europe's leaders are trying to cope with the situation here. Where do you think they are s far as these measures put in place.....


Current Policies Scenario

Under the scenario of current policies, systemic
risks are averted but strains remain, as policymakers
do not capitalize on recent progress to secure further
breakthroughs in the areas of national reforms,
bank restructuring, and further financial and fiscal
integration needed to entrench stability.

Consistent with that notion, current forward markets suggest
that spreads will persist at relatively elevated
levels for weaker sovereigns and banks. Still-fragile
confidence implies that foreign investors will not
increase their exposures to peripheral bonds, causing
the dependence on home institutions to rise.

I think we are in the WEAK policies scenario. That and considering that these projections are VERY optimistic, I would think the IMF is full of dumbasses wishing on fairies.....

Weak Policies Scenario
In a more adverse scenario of weak policies, conditions
could deteriorate to the point of reviving
acute market tension. This scenario could be triggered
because the implementation of the policies
under the current policies falls short of what has
been agreed, national policies falter, political solidarity
underpinning euro area reforms fragments,
or shocks overwhelm the firewalls.

Under this scenario, credit spreads rise sharply again, pushing
several sovereigns toward a bad equilibrium of
prohibitive funding costs, worsening debt dynamics,
and risks of illiquidity or financial repression.
Further stresses in the banking system could force
banks to accelerate the deleveraging drive. As a
result, EU banks could shed an additional $1.2 trillion
in assets above the baseline by end-2013, or a
further 3 percent of assets.

www.imf.org...

I think that although there is a list of indicators that we can point to, most of it actually means very little. Those people in leadership have been coming up with new schemes and smokescreens for the past four years, delaying the collapse wherever they can.

If they see something failing, they manipulate it just enough to keep it viable, or they distract the public with something else. The extreme is that they just pump more money into it and pretend that they didn't.

That last trick is hilarious! They see a warning of collapse approaching, they fire up the printing presses (actually just adding a few more zeros on the screens) and then for the next three months they're claiming success and "recovery" while they point at miniscule increases in profits for the criminals, as minute traces of that boost flow through. It's like pumping a dying man full of Morphine and than saying "look, he's okay really!"

Of course, that injection then wares off after a little while and more Morphine is thrown in to dupe the people and the markets yet again.

This is a controlled collapse, but they need more and more elaborate ploys to avoid the people finding out. The people are still waking up to it though, and the protest is growing.

The one singular thing people should be watching is the protests. Everything else is BS. The markets are BS, the growth reports are BS, the IMF and ECB are spouting BS, governments are preaching BS to their people... It's all manipulated and controlled. It's designed to either confuse and bewilder, or outright lie to the public about the state of their economy. They all know that we are heading in a singular direction, and their only intention is that we don't have time to notice it or do anything about it.

The only thing that really matters to people is stability and social cohesion, because once that breaks down there is no coming back from it - for at least a decade or two. It will lead to revolutions across the western world, just as we've been seeing across the Arab world.

Protest and anger are the only real indicators of how things are going. Your government can tell you things are not as bad as they seem, but to people actually living hand-to-mouth that's simply not true. No politician lives in the real world, with the real struggles of ordinary people. They sit in plush offices, live in second homes, fly on chartered jets and eat the finest foods, on the backs of the people they are elected to serve. We truly are the "plebs" to them.

Watch the people, and when the first government building in Europe is taken siege and the corrupt politicians lynched (and we all know that is going to happen) really prepare your BOB and start finalizing your plans to run out of your city.

The primary indication that things are on the verge of complete collapse will be the taking of a government by the people. As this is expected to happen in Spain, Greece or Portugal first, it will very quickly lead to the collapse of the € currency. It will also lead to the collapse of several large banking institutions and a run from the markets.

This will not be contained within Europe, because all other currencies are exposed to the debt in these nations and are tied into the € currency whether they like it or not.

Have a plan. Watch the protests. The moment a crowd breaks through the police lines and rushes a government building go and take out as much of your money as you can. Buy up your supplies quietly and calmly. Invest in security. Head home and watch the news unfolding.

These are just my opinions. But I absolutely believe that we should not be paying any attention to those with a vested interest in manipulating the facts or blatantly lying to the public. These are the same people who never saw it coming (some financial wizards, huh?) have failed to deal with it since, and continue to make their own millions while the rest of the public are sinking into desperation and poverty. Do not trust a single word any "leader" says, we know they are bought. Watch the people, because they will ultimately decide what happens in their country, and they will do it by force if need be.

in the personal or local level (as opposed to the macro/global level)

i and 58 million other SS retirees are getting our annual Shaft...by that i mean the retirees forced Austerity Program that caps any annual COLA (cost of living) increase to a mere 1.7% max

(whereas Congress & Teachers, Postal workers & a lot of other Public Service careers get increases that are only limited by the imaginations & demands of the negotiators.


i'm hyped today because the 2012 CPI-W for the 3rd Quarter increased YOY by a 3.7+% rate
but the fat butt congress, that just lavished themselves their seemingly every 4th year pay increase that far exceeds the SS Austerity package that limits COLA to a 1.7%...but they get their full COLA by default



the result is putting the retirees into a downward spiral of their ability to sustain their Quality of Life expenses.


but the congress, postal, teachers, etc get hefty fat cat golden parachutes !

and lets not forget the blood sucking vampire squids called the bankers that get taxpayer bailouts every day of the week now that the FED is buying up all the previously 'junk' paper tied to MBSs/CDOs that the fraudsters in the finance crookland cartel created over a 5-8 year span ...

they get bailed out at a rate of $40BN a month for eternity (the whole ball of BS is more than $3 Trillion of bad paper to be monitized as bankster/broker/moneychanger bonuses)


what will really put icing on a pile of crap is if the Medicare premium goes up more than my expected +$20 month COLA increase i will start getting in Jan 2013

Not to mention the prices of food and gasoline. PRetty sick of spending hundreds every single week just to get around and eat simple foods.