These 8 Red Flags Warn Us We’re Speeding Toward an Economic Collapse RIGHT NOW
by Daisy Luther
TheOrganicPrepper.com
December 20, 2018
This isn’t exactly an article loaded with Christmas cheer, but there’s a very good reason that my family has strictly limited our holiday splurges this year. It’s because all the signs right now seem to indicate the US is hurtling toward an economic collapse.
It’s inevitable, of course. Our economy has been artificially propped up for decades, since abandoning the gold standard. We’re $21 trillion dollars in debt, an unfathomable number. The fact that other countries still lend us money boggles the mind. If the United States was a person with such a high ratio of debt that we aren’t paying off, we wouldn’t even be able to buy a car with one of those 25% interest loans, that’s how bad our credit would be.
Not only that, but there are some parties who seem to want to see the economy go belly up for their own greedy and nefarious purposes.
Here are the red flags that have me concerned about an imminent economic collapse.
The stock market is crashing.
Right now, the market is on track for a month that is equivalent to the crash of 1929, when the Great Depression began. Both the Dow Jones Industrial Average and the S&P 500 are down by 8% during a month that is usually really good. Michael Snyder reported:
The ferocity of this stock market crash is stunning many of the experts, and many investors are beginning to panic. Back in early October, the Dow hit an all-time high of 26,951.81, but on Monday it closed at just 23,592.98. That means that the Dow has now plunged more than 3,300 points from the peak of the market, and many believe that this stock crash is just getting started. (source)
And Snyder isn’t alone. Even the mainstream is reporting on our precarious situation. (Albeit, just to make the President look bad.)
Dr. Ron Paul told CNBC (and they actually published it!) that we’re headed for a depression in the next 12 months.
“Once this volatility shows that we’re not going to resume the bull market, then people are going to rush for the exits,” Paul said Thursday on CNBC’s “Futures Now. ” The relentlessly bearish former congressman added that “It could be worse than 1929.”
During that year, the stock market began hemorrhaging, falling almost 90 percent and sending the U.S. economy into a tailspin.
Paul, a well-known Libertarian, has been warning Wall Street a massive market plunge is inevitable for years. He’s currently projecting a 50 percent decline from current levels as his base case, citing the ongoing U.S.-China trade war as a growing risk factor.
“I’m not optimistic that all of the sudden, you’re going to eliminate the tariff problem. I think that’s here to stay,” he said. “Tariffs are taxes.”
The scenario is exacerbating Paul’s chief reason behind his bearish call: 2008 financial crisis easy money policies. He contended the Federal Reserve’s quantitative easing has caused the “biggest bubble in the history of mankind. ” (source)
The Rest…HERE
