The World Is Headed For Another Terrifying Collapse But Here’s The Scary Part

Monday, June 20, 2016
By Paul Martin
June 20, 2016

With major markets all over the globe on the move, today James Turk not only told King World News that the world is headed for another terrifying collapse, and discussed the scary part regarding why it will be even worse this time around.

James Turk: “It is getting very ugly for the big banks, Eric. The price of many bank shares are in clear downtrends, particularly the European banks. Many of them are being swamped by unsecured loans that will never be repaid and will therefore have to be written-off as total losses…

James Turk continues: “The country in worst shape is probably Italy. The banks there have non-performing loans – which are those that are impaired and not meeting the original borrowing terms – that in the aggregate dwarf total bank equity. Even worse, non-performing loans in Italian banks have risen again over the past year from 17% to 18%. It is hard to imagine that 18% of all loans within that country are non-performing, but the Italian economy is in trouble as evidenced by its 11.7% unemployment rate.

The Rest…HERE

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