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10 Signs That Wall Street Is About To Go Into Panic Mode

Can you smell the fear?  Right now world financial markets are visibly nervous and many are worried that Wall Street is about to go into panic mode.  It really is eerie how 2011 is shaping up to be so similar to 2008.  Major Wall Street banks are laying off workers in droves, oil prices are at very high levels, pessimism is permeating the financial markets, debt ratings are being downgraded all over the place and consumer confidence is stunningly low.  Sadly, none of the fundamental things that were wrong with the financial markets back in 2008 have been fixed.  In fact, many believe that Wall Street is even more vulnerable now.  A ton of bad economic numbers have come pouring in lately and that has put investors in a really sour mood.  All it would probably take is for one really significant “trigger event” to take place for Wall Street to go into full-fledged panic mode.

Let us hope and pray that we do not see another Wall Street disaster this year.  But right now things do not look promising.  Japan has been absolutely devastated, Europe is struggling with the Greek debt crisis and the U.S. economy resembles a dead horse at this point.  Meanwhile, world financial markets are getting more bad news on an almost daily basis.  Many investors are holding their breath and hoping that a worst case scenario does not play out.

The following are 10 signs that Wall Street is about to go into panic mode….

#1 According to The New York Post, nearly all of the major Wall Street banks are planning huge layoffs….

“Barclays Capital, Goldman Sachs, Bank of America, JPMorgan Chase and Morgan Stanley currently are among those financial institutions either weighing staff cuts or actually paring payroll”

#2 A new CNBC article claims that a “negative feedback loop” has “taken control” on Wall Street.  Essentially what is happening is that bad economic news is creating an “environment of pessimism” which creates even more bad economic news, etc. etc.

#3 OPEC has announced that oil production levels will not be raised.  This is likely to spook the financial markets and cause the price of oil to go up even higher in the coming weeks. The last time U.S. energy expenditures were over 9 percent of GDP was back in 2008 and at that point the economy rapidly plunged into a very deep recession. For the first time since 2008 we have reached the 9 percent figure again, and many on Wall Street fear that this could lead to bad things.

#4 QE2 will be wrapping up at the end of June, and many on Wall Street had been counting on yet another round of quantitative easing.  Over the past couple of days, however, it has started to become clear that is just not going to happen – at least for now.  In fact, Pimco’s co-chief investment officer, Bill Gross, is telling investors that for the Fed it will “be difficult to initiate a QE3“.  But without artificial stimulation the U.S. economy may start really struggling again, and Wall Street knows this.

#5 Moody’s recently warned that it may downgrade the debt ratings of Bank of America, Citigroup and Wells Fargo.  Bank stocks were on the cutting edge of the financial collapse of 2008, and it looks like that may happen again this time.

#6 Faith in the U.S. dollar continues to decline.  Back on April 18th, Standard & Poor’s changed its outlook on U.S. government debt from “stable” to “negative” and warned that the U.S. could soon lose its AAA rating.  China has been very busy dumping short-term U.S. government debt and there does not seem to be a lot of people (other than the Federal Reserve) that are eager to buy U.S. Treasuries right now.

#7 U.S. consumer confidence is already lower than it was back in September 2008 when Lehman Brothers collapsed.  Consumer spending makes up approximately 70 percent of the U.S. economy and Wall Street is watching this number closely.

#8 A whole slew of bad economic news has been pouring in lately.  Mike Riddell, a fund manager at M&G Investments in London, recently pointed out to CNBC some of the data points that have been particularly alarming….

“US house prices have fallen by more than 5 percent year on year, pending home sales have collapsed and existing home sales disappointed, the trend of improving jobless claims has arrested, first quarter GDP wasn’t revised upwards by the 0.4 percent forecast, durables goods orders shrank, manufacturing surveys from Philadelphia Fed, Richmond Fed and Chicago Fed were all very disappointing.”

#9 A whole lot of folks in the financial industry have been warning about the next financial collapse lately. For example, economist Nouriel Roubini recently made the following statement….

“I think right now we’re on the tipping point of a market correction. Data from the U.S., from Europe, from Japan, from China are suggesting an economic slowdown.”

#10 According to a new CNN/Opinion Research Corporation poll, 48% of Americans believe that it is either “very likely” or “somewhat likely” that the United States will experience a “depression” within the next 12 months.  Needless to say, Wall Street is highly influenced by the overall mood of the nation.

Once again, let’s hope that financial disaster can be averted for as long as possible.  The last thing the United States needs right now is another major crisis.

America has been hit by a whole series of natural disasters in 2011.  We have seen unprecedented tornadoes, historic flooding along the Mississippi River,  and horrible wildfires in Texas and in Arizona.

Thousands upon thousands of American families are deeply suffering tonight.

Dave Daubenmire recently visited Joplin, Missouri and what he witnessed there was absolutely heartbreaking.  Thousands of families there have lost absolutely everything.

But for most Americans, the impact of a particular tragedy fades after the 48-hour news cycle has passed.  If the television doesn’t tell us that something is important then most of us are not likely to think about it much.

Most Americans think pretty much only of themselves.  The vast majority of us are just so busy pursuing our own version of “the American Dream” that we don’t have much time for much else.  The love of most Americans has grown cold and most of them are primarily interested in how they can make their own lives better.

But whoever “dies with the most toys” does not win the game of life.  Rather, we should all be seeking to show as much love to others as we possibly can.

The next time the financial markets crash and Wall Street goes into panic mode, there will probably be another string of suicides as a lot of wealthy people watch their wealth evaporate.

Don’t let your life be defined by how much money is in your bank account or by how much stuff you own.  Life is about so much more than that.

So what do all the rest of you think about all this?  Is Wall Street about to go into panic mode?  Feel free to leave a comment with your opinion below….

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comments

  • Concerned Citizen

    Very chilling article. May God have mercy on America! We are in trouble.

    • Bilejones

      Why should God do that?

      A bankrupt US would be a blessing for most of humanity.

      • Just another mom

        While I know what you mean, my heart would not wish a bankrupt America. The hoards of people that would break down my door to get food, water and possibly rape my 6 children is enough to pray that a bankruptcy does not happen. If people were more human then I would not worry, but they are not.

        Does not matter really though. You more than likely will get your wish and get it sooner than later.

      • Chuck

        Why would you say that? The US has done more for the world and the progress of humanity than any other country in the history of the world. Granted, there have been some huge mistakes, but the positive out weigh the negatives by a huge margin. Technology and medical breakthroughs that save millions. The very technology that you are using to spew your lies was created in the US. So when you enjoy your DVR, Flat Screen TV, internet access and your smart phone, thank the US for bringing that technology to market.

        • caseyjones

          Bullshit. Americans are worthless fat cattle. The inventions you mentioned were created by the very few Americans worth saving, and you certainly had no fat hand in creating them. The only thing that America has going for it is the porn you create, and even that shit is getting boring and trite.

  • SmokyMtnLady

    And in other news…President Barack Obama “isn’t worried about the recession”!! Doesn’t that statement make you feel all warm and fuzzy??

  • VegasBob

    My 80 year old uncle called me Wednesday morning and told me that he was going to sell a big chunk of his stock portfolio. He is pretty well-fixed, but he doesn’t believe any of the recovery propaganda being bandied about by the government and the media.

    So, yeah, I think Wall Street is about to fall into the crapper big time. The trouble is that the Fed’s QE2 money-printing charade is ending, and Ben ‘Bernokio’ Bernanke cannot start up another round of QE3 money-printing without sending gasoline to $8 a gallon and milk to $5 a gallon, which would guarantee Obama’s defeat in 2012.

    Bernokio desperately needs Obama’s re-election to ensure that the statute of limitations will run out on both the Fed’s and Wall Street’s crimes against the US economy. So Wall Street will be sacrificed this time around.

  • http://www.planorperish.com Gutter Economist

    If most people on Wall Street are bearish, the stock market may continue to move higher. The stock market usually does what ever it takes to make the majority of investors look like fools. With or without QE3, the Fed can still prop up the stock market with little effort.

    But without artificial stimulation the U.S. economy may start really struggling again, and Wall Street knows this. Wall Street knows that artificial stimulation did nothing for the U.S. economy other than helping banks and large investors. When did the U.S. economy stop struggling?

    Faith in the U.S. dollar continues to decline. At 74 (June 9, 2011) the U.S. Dollar Index, however, is higher than the 2008 low of 71.

    Americans believe that it is either very likely or somewhat likely that the United States will experience a depression within the next 12 months. The next Great Depression is here now.

    Needless to say, Wall Street is highly influenced by the overall mood of the nation. Actually, Wall Street does not care about the overall mood of the nation and usually buys when most Americans are selling.

    The final tipping point may be an attempt by congress to balance the federal budget. This would cause a substantial increase in unemployment.

  • Chris

    Lets see….

    – the banks still have all the same toxic assets on their balance sheets since the bank bailout allowed them to continue paying bonuses and buying up smaller banks without having to clean up their financial situation,

    – obama bank regulation did absolutely nothing to prevent a future financial crisis,

    – banks considered too big to fail have been allowed increased their trading risk (Goldmans VaR nearly doubled the year after the crisis) letting them increase their profits because they new the goverment will be forced to bail them out if they need it. It’s like going to the casino and being able to keep your winnings while the goverments covers your losses,

    – the college loan bubble is burstings as grads are now more in debt than ever and can’t find jobs,

    – the government handouts to unemployed and poor can’t go on forever, once these people lose their income they can’t buy goods, causing the consumer spending to decrease,

    – the housing market never recovered and many more people are underwater with their mortgages. This creates a whole list of problems all leading to recession, loan defaults, and bank bailouts,

    – manufacturing jobs never returned from china, IT jobs are still in india, all we have left is mcdonalds and walmart jobs,

    – the federal gov can’t bail out states and cities because it’s now officially a war machine instead of a government, thanks to obama & bush we now have neverending wars: iraq, afganistan, pakistan, yemen, libya and in the near future: iran and syria,

    – the american people are more concerned with lady gaga’s new outfit then they are with the extinction of the middle class and the growing poverty class, apathy does not lead to helping the poor,

    hard to find signs of an economic recovery, the question is not wether there will be another bank bailout, the question is when and how much they will give this time around. I think 700K billion was just the beginning. This time maybe more like $1 trillion, considering that the value of the dollar has decreased with all the quantitative easing.

    This election season will be the first year that corporations can pay for political commercials… this will certainly lead to more bailouts – give obama $1 million in political commercials and he gives you $1 trillion in tax payer money.

    By the way, what was lady gaga wearing the other night? Was it a bubble outfit? Did snooky get wasted or punched in the last episode of the shore?

    • Gary

      good insight-your 100% correct

  • Egor

    The fall of the financial system … save the economy. First phase of turbulence will happen, but after that the economy will revive.

    Look, each person consumes concrete, tangible things. However, it needs a system of exchange and distribution. This system should help the production, distribution and consumption. But does it work?

    There are houses, but because of the system, people can not live in them. Ones of them is not enough food, others do not have enough services, and the third is not enough machines, but they can not make an exchange necessary. The system created for the exchange, has become a Big Brother. If he does not give permission, the exchange will not happen.

    Man wants a new car, but he has no money because no one buys for the money his work. Businessman can not make a new car, because there is no money to buy the metal and energy – has already made a car nobody bought. Steel plant could not to sell metal. And it can not pay workers.

    The economy has all the elements for successful development. But the financial system, Big Brother, do not give permission for the development.

    The financial system produces nothing. All people involved in it, receive their portion of the economy. In fact, the financial system – a parasite that eats a share of world resources and inhibits the growth of global wealth.

  • Jonathan

    When only a handful of companies are actually growing, it is not surprising that Wall Street is facing another crisis. What is surprising is how it grew to its current level given the poor economic data over the past several years.

    You gotta hand it to the speculators who make money when the market goes up or down. Their ability to control the “confidence” of the market continues to amaze me. The lack of a true market will continue to plague Wall Street and America only as long as we allow it. This requires our intervention at the Congressional level so as to pass legislation that prohibits outright gambling with people’s pensions and life savings. Wall Street should not continue to be run like Las Vegas. You need look no further than what these financiers have done to Greek bonds to understand their control over a country. If our government representatives refuse to acknowledge and change this then we should vote them out like the Belgians have done and watch our country prosper. Remember our founding fathers words:

    “When, in the course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

    We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness. Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and accordingly all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security.”

    Has a familiar ring to it and is as valid today as it was then. Someone once said that whatever man makes he can unmake. In simple terms this means that we can turn the corner on this crisis but only if We The People stand united as We have done in other times of crisis. This is what made our country great and will continue to do so in the future. All We have to do is decide.

  • Gary

    The too big to fail are even bigger. With the repubes fighting tooth and nail to prevent Elizabeth Warren from fixing things it is obvious where their priorities are, namely making the rich even richer. The repubes are the cancer destroying this country.

    • Guido

      Yeah, it’s the republicans who are at fault. Not the communists who have spent decades infiltrating the education system, media, and government to teach their brilliant ideas. It had nothing to do with the progressives who insured we don’t teach critical thinking anymore. It wasn’t the leftists and poverty pimps who told folks they deserved something for nothing from the rest of us. It wasn’t the other leftist politicians, like Barney Frank, who demanded we offer mortgages to minorities who couldn’t afford them. It certainly wasn’t the rest of us who felt free to go deep into debt buying things we didn’t need.

      No one DID this to us-we did it to ourselves. Do you believe our politicians were doing something we didn’t want? Only a tiny minority of people were paying attention to what was going on before 2008 and only a tiny handful of them were accurately predicting impending doom, while everyone else was out to lunch. It doesn’t seem like that many more are paying attention now. And you can talk about greed all you want-but it wasn’t just the rich who were buying up the houses and condos, new cars, new computers, and new phones-That was us. You can’t build a bubble out of that tiny little percentage at the top you’re always harping on. WE traded our future for the present. Speaking of-anyone see the Chinese kid who sold his kidney for a new Ipad? Same mindset.
      None of our current problems just popped up out of nowhere-they’ve been festering under the surface for a long time and now we have to deal with the consequences.

  • Mr Carpenter

    Birth pangs. Christians understand exactly what I’m talking about, others – not at all.

    Perhaps you “others” should consider turning the direction of your life towards the one creator who died for you on the cross, Jesus Christ.

    Find a true biblical church, attend, listen, learn, read, absorb and do.

    Sadly, in post-modern western sillivization, only about 1% of the greater church body (i.e. the real church) is made up of people who do this.

    But since you are already here reading this, you are probably a 2-percenter (someone awake enough to understand that we’re all in trouble).

    So it’s therefore not such a big step for you to become a 1-percenter.

  • Mr Carpenter

    Almost forgot to mention – as far as the actual church goes, various traditions have various success rates in retaining their young in Christianity as they go beyond age 20.

    In “mainstream” churches, it is about 10%, which is to say that within a generation, the church will effectively be dead in the Banana Republik of Goldman Sachs Previously Known As The United States of America.

    In (theologically) conservative churches such as the Mennonites locally near me (who do NOT believe in the apostacy that some so-called Mennonite churches have swallowed – that is pro-homosexuality/anti-Christ beliefs), they retain 90% of their youth into adulthood within the church.

    Results vary. This is important to consider if you have children yourself and desire that they live an eternal life of blessings instead of being permanently separated from the presence of God after they leave their bodies behind.

  • Brady

    Another great article! It’s great to get some real intel on what’s happening out there. I just watched 20 mins of news and all thats been on is Anthony Weiner… That’s the most pressing issue right now? So thanks for everything you do on here. I can safely say that I would not be as prepared as I am now without your blogs (Economic Collapse/American Dream) keep up the good work, more people are tuning in everyday

    • Admin

      Brady:

      Thank you so much for the kind words. Sometimes I am amazed that people keep showing up to the sites. With the kind of writing that I do I am sure that I have offended a ton of people out there. The truth is hard to take sometimes.

      Michael

  • http://theeconomiccollapse JackieR

    Yes, the next trigger could be HAARP.
    When surveys are taken and they make things look better, then I wonder where were they taken?
    The gov is sugar coating everything.

  • D-Hawk

    It would be good if people used the financial downturn to re-evaluate life and enjoy more “natural” and free living. Not caring about status, material possessions etc.

    Unfortunately many people do this, and have overstretched themselves financially, and emotionally to do so.

    It’s not going to be pretty for pressed families when the going gets really tough in the US

  • Abia The Cat

    What will make this next depression so bad is that most people live in or near cities. Only 2% of families live on farms where they can hunt, raise livestock, or have gardens large enough to support themselves. Perhaps the local Amish can teach the city folks how to have inner city gardens and live the old ways (no running water or electricity) comfortably.

    The real trouble will start (riots, etc) when the government can’t get the aid to the impoverished masses fast enough to prevent riots that can burn down entire cities.

  • http://wearamerican.blogspot.com/ Thomas Schiller

    We will see another Wall Street disaster! Why? because nobody is touching the basic problem of America’s economy: The outsourcing!
    There is only one way to change something: Bring back manufacturing jobs! How? Easy: STOP buying all this “Un-American Made”products! Patriotism starts in your closet, not on the tongue!
    http://wearamerican.blogspot.com

  • Brent Brewer, CFA

    Why on Earth would you say “Let us hope and pray that we do not see another Wall Street disaster this year.” ????!!!!

    In so doing, you are explicitly endorsing the ridiculous, illegal and immoral 2008 BANKER BAILOUT that was initially voted down by Congress as a result of populist pressure, but subsequently rammed through by our then-Treasury Secretary and former Goldman Sachs CEO-CRONY Hank Paulson, a man personally benefiting to the tune of millions of dollars for his transition from “private” to “public” sector…which anyone with half a clue understands is nothing but one in the same for the largest, most connected firms.

    Damn you for not wholeheartedly supporting and endorsing a crash of the most magnificent proportions to eliminate and obliterate what shred of confidence is left in the Crony, Thieving, America-destroying institutions lined up and down Wall St. and that serve nothing more than the shadow govt of international criminals, thugs and banksters…and who buy off virtually our entire Congress in D.C., the District of Criminals!!!

    • Admin

      Brent:

      I am not advocating that we keep the current system.

      However, I think that you truly underestimate the horror that is going to come when the economy fully collapses.

      The suffering is going to be unimaginable.

      Michael

    • mondobeyondo

      In my view, any way you look at it, we’re in deep, deep trouble.

      You can drown to death.
      You can be bombed to death.
      Or just let a violent mob kill you.

      Any way you look at it –
      you’re gonna die.

      Be prepared for your fate.

  • Patriot One

    Yes indeed, I do beleive they are on the edge of panic. Since March of 2009 QE 1&2 have amounted to a suckers ralley. Now without more funny money the markets will collapse quickly.

    Its not like March 09 or November 10, this time the Federal Reserve is up against the debt ceiling and the credit ratings.

    From what I’ve heard the Federal Reserve is now the largest debtor even ahead of China. Back in 09 when I told people we were buying our own debt they though I was nuts.

    I think we will have a last ditched effort on a QE3, but it may be too little too late. It seems the only ones who don’t know how broke we are, are brother’s Ben & BO.

    Move all your funds to cash or cash equiv. now.

    • from europe – DIRT COOKIES 4 Gary

      finally a smart poster. ok, yea, its either QE3 or laying off govn workers this summer. and it gonna be many many lay-offs. oh well, lets all hope Gary gets his pink slip this time, coz he needs to entertain us 24/7 here in the forum.

  • Steve

    I’d like to see a string of tornadoes do to Wall Street that which they did to Joplin, MO…

    • Keith

      ^ THIS. Wouldn’t it just be wonderful? Turn on the news and see Wall Street leveled by a F5? All those business types walking around, dirty, holding briefcases, ties askew…looking confused. Off in the distance, you can see where a 2 x 4 was rammed straight through that bull statue outside Lehman (or whatever the f**k bs bank it sits outside) by the sheer power of the wind.

      The next day it’s painfully obvious that the banks run the country because on the “Today Show” you hear how tornadoes and 2 x 4s have been outlawed under the Patriot Act. From then on out, all NOAA-trained storm chasers must be accompanied by a TSA agent so they can put the butt-hurt on any developing funnel clouds.

  • DeathSpiral

    Without QE3 or something similar we go into a Death Spiral with negative GDP starting immediately.

    Will a bank holiday soon follow?

  • A Dodgy Bloke

    Truly depressing but anybody paying attention and not listening to CNBS, Fox, The Communist News Network, NBC and other lame stream media this would not be such a surprise. If you’re not out of debt start, if you don’t have some food saved up start, if you don’t have a garden you better start. Get armed and trained, I would strongly suggest reading Surviving the Economic Collapse by Fernando Ferfal Aguirre. He survived the meltdown in Argentina in 2001 crime and stupid government are going to be your two biggest enemies.

    http://www.themodernsurvivalist.com/

  • Tara

    Very good article. Financially, I’ve already hit rock bottom and I won’t be going up anytime soon. I’m done getting myself upset, causing my blood pressure to shoot up. Every day I see signs that we are in a whole lot of trouble.

  • Lady

    The author states:
    “Let us hope and pray that we do not see another Wall Street disaster this year.”

    However, I may have to disagree with this. Am I a horrible person for saying the system is so broke, at this point we need to just start from scratch? If not, why is it not time to do so?

    The author also states:
    “All it would probably take is for one really significant “trigger event” to take
    place for Wall Street to go into full-fledged panic mode.”

    Maybe, it’s time for Every single American to trigger the event, and Every single American should go down to the fed courthouse and apply for bankruptcy. Every single American needs to buy absolutely nothing unless it is an extreme necessity. Every single American needs to take all their cash out of the bank, put it in a safe or mattress, preferably right next to their gun. Every single American then needs to take all the money for their bills, put it in a safe place, or a side bank account and demand justice for payment. The banksters just heisted our money and this is the way to pay them back. Strikes worked in India. Withholding money can work in America.
    Reply

    • tonda

      hi there-FINALLY someone with a PLAN!!!! I have always advocated this. but the soccor moms and their spoiled brats refuse to sacrifice. they refuse to stop driving around, stop buying starbuck coffee, say they have the right to buy whatever they want..yes but when the gov is ripping you off=cut em off at the wallet=work less hours if you can=buy less stuff=do simple things at home like we used to in the 90s. its not hard. but everyone has an attitude. well i feel like saying naughty things to you who have this attitude. lets see how you hold up when the gov tells you NO you cant drive on this day or no you cant take money out or some such foolishnes=you only have your selfish selves to blame.

  • ANN ONYMOUS

    USA ATTENDEES AT SECRET BILDERBERG MEETING JUNE 9, 2011

    Alexander, Keith B. Commander, USCYBERCOM; Director, National Security Agency

    Altman, Roger C. Chairman, Evercore Partners Inc.

    Bezos, Jeff Founder and CEO, Amazon.com

    Collins, Timothy C. CEO, Ripplewood Holdings, LLC

    Feldstein, Martin S. George F. Baker Professor of Economics, Harvard University

    Hoffman, Reid Co-founder and Executive Chairman, LinkedIn

    Hughes, Chris R. Co-founder, Facebook

    Jacobs, Kenneth M. Chairman & CEO, Lazard

    Johnson, James A. Vice Chairman, Perseus, LLC

    Jordan, Jr., Vernon E. Senior Managing Director, Lazard Frères & Co. LLC

    Keane, John M. Senior Partner, SCP Partners; General, US Army, Retired

    Kissinger, Henry A. Chairman, Kissinger Associates, Inc

    Kleinfeld, Klaus Chairman and CEO, Alcoa

    Kravis, Henry R. Co-Chairman and co-CEO, Kohlberg Kravis Roberts & Co.

    Kravis, Marie-Josée Senior Fellow, Hudson Institute, Inc.

    Li, Cheng Senior Fellow and Director of Research, John L. Thornton China

    Mundie, Craig J. Chief Research and Strategy Officer, Microsoft Corporation

    Orszag, Peter R. Vice Chairman, Citigroup Global Markets, Inc.

    Perle, Richard N. Resident Fellow, American Enterprise Institute for Public Policy Research

    Rockefeller, David Former Chairman, Chase Manhattan Bank

    Rose, Charlie Executive Editor and Anchor, Charlie Rose

    Rubin, Robert E. Co-Chairman, Council on Foreign Relations; Former Secretary of the Treasury

    Steinberg, James B. Deputy Secretary of State
    (HE HAS VIOLATED HIS CONSTITUTIONAL OATH BY ATTENDING)

    Thiel, Peter A. President, Clarium Capital Management, LLC

    Varney, Christine A. Assistant Attorney General for Antitrust

    Vaupel, James W. Founding Director, Max Planck Institute for Demographic Research

    Warsh, Kevin Former Governor, Federal Reserve Board

    Wolfensohn, James D. Chairman, Wolfensohn & Company, LLC

  • IDunnO

    We are in big trouble. Yesterday I spoke with my sister who started a advertising company 5 years ago. At one point both her and her husband got a small salary from the business and sales were up to $10,000 a month. It was a modest business, but they were happy just working from home. Last month the business had sales of only $500. It’s not even enough to cover expenses. She said they have not paid themselves for 2 years… just hanging on to pay the business expenses. Thank God my brother in law found a regular job last year. She is really worried and so am I. If you have not done so… start preparing immediately. We don’t have money to buy gold but we are stocking up on food storage. Check out http://www.ShelfRelianceSanAntonio.com. The food is fantastic and the prices low (… for now)

    • Guido

      If you don’t have gold, I would say don’t sweat it. In tough times, there are lots of important and useful things to have.

      I was in Russia just before the devaluation in 1998, where I learned the Russians all knew it was coming for months. During that time, they stocked up on food and hard (US) currency. They planted gardens at their dachas. We can do the same.

      I think you could buy food, clothes, tools, and other things you know you’ll need.

      For example-I need to buy some new underwear and socks. When I go, I’ll buy a couple extra packs of both, just to put aside. I’ll need them eventually, anyway, but at least I know the cost will be lower now than later.

  • zwargonetofar

    Wow, we are falling so fast down hill – kind of puts me in a dizzy spin! I kind of always thought this world was a lie and had only dreadfull things to offer – but then I enjoyed the better things in life and didnt give a darn.

    Soon and mark my words – soon things will be falling apart at a faster pace, faster then mentioned above. With all the war’s (which we the people are going along with since we are not doing much of anything to stop it) poisoned air, water, foods, rivers, oceans, cities, small communities, and everything else – there wont be much of anything we have known as healthy.

    The police are getting dangerous and more pron to doing evil it makes me wonder are they any different then the criminals who are in jail or prison. They (some) the police take drugs, sell drugs, do drugs, drink druk, prostitute themselves, sleep with prostitutes both sexes, they take bribes, give bribes, make deals, take deals, rape women children and men, they hurt and kill people – WOW this is really scary! I have a B.S. in Criminology and a MSW (Masters in Social Work) and Iam not joking this is getting to be really scary!

  • Gary

    Time to tax the rich and spread the wealth.

    Help for the needy before profits for the greedy.

  • GJS

    Any logically thinking person would hope that the US be spared any further hardship because when people are in real need the more pressure is put on politicians to do more resulting in measures being taken that would not normally be tolerated by the people.
    I can understand why some are bitter as the US has brought much of this upon itself by sourcing low cost labour in China & then expecting China to do as it was told but no-one can expect another country to do things that would be counter productive to itself. It also has some attitude problems that it must sought out if it hopes to ever regain international respect however the importance of the US to the world can’t be overstated.
    So be careful what you wish for, it just might come true, the world without a strong US is a scarey thought indeed, for everyone.

  • Rachel Thompson

    We have been in big trouble since we began giving away our manufacturing base stating with Nixon, and then pushed over the edge with Regan and later Clinton. Chicago Boy economics and free trade, as it is understood today, simple doesn’t work.
    There is so much wrong with our economic and political system that only the impeding collapse of our empire will stop it. There is no cure for sociopath’s greed. Sadly, the captains of industry and most politicians are provably sociopaths.
    There is no hope- every empire fails for the same set of reasons. Our time is short- same old crap-different set of players.

  • Izzy

    What I can’t understand is why there isn’t better in-depth analysis by ANY media on the economy. CNBC is basically just a Wall St. propaganda machine. (Although sometimes they do slip in something interesting–Fri. morning they mentioned a 10% drop in the CMBX due to the Fed. dumping some “Maiden Lane” investments. Google this for some interesting reading.) Americans are so busy working 15 hr. days and taking jr. to Little League, they have no idea how close to the edge we really are.

  • http://moneycrisisgameplan.com Money Crisis Game Plan

    If you’ve been reading ‘End Of The American Dream’ long enough, you know that the financial elite’s goal is to control the world’s financial system and dominate the world through a one-world government.

    The U.S. is past the point of no return. The Dollar and the financial house of cards is going to collapse. We can’t stop that from happening, so the real question is…

    What are you doing to leverage the financial elite’s strategies to protect and multiply your wealth, so that you can survive and protect your family?

    Get financial education now before it’s too late. Mike Dillard Elevation Group

  • http://freefood2gocoop.com Free Food 2Go

    I appreciate the information on this site, as it gives me a bigger perspective.

    And it compels me to take action to prepare for the financial downfall of America.

    The window of opportunity is closing. Act now to get long term food storage, water, protection, gold and silver, a survival plan in and out of your city, a support network of like-minded people, etc…

    SURVIVE IN PLACE Urban Survival Guide

  • K. Mccaskille

    The next time the financial markets crash and Wall Street goes into panic mode, there will probably be another string of suicides as a lot of wealthy people watch their wealth evaporate.

    Yeeaah! More rich body counts!

    This is a celebration!

    THEN, the unions and social activitsts can send the homeless in BUSLOADS to the bankers’ homes in Stamford, Cos Cob, Somers, West Hartford, the Hamptons, as well as Cape Cod, Price Georges County, MD and Arlinton, VA.
    LOTS OF FUN comin’ bankers…you CAN BE SURE!
    Your homes have been Googled and GPS coordinates are already printed out and visits ARE planned!

    • Gary

      This would be long overdue. Too bad I live so far from these areas.

    • Guido

      You are an idiot.

      If your post is authentic and not just tough talk from someone anonymous and if you and your union thugs want to tangle with folks with cash, go ahead.

      I’m sure the police won’t question private security and home owners when they use deadly force against ignorant communist morons from out of town.

  • Cheryl

    That’s slimy allowing people to advertise their sleazy money consulting companies on this blog. Really hideously disgusting! (ex. Mike Dillard’s ad above)

  • Cheryl

    I am extremely upset the slime who are advertising their businesses on this blog. They are utterly disgraceful and should get a life.

    • Gary

      I agree with Cheryl. Mike please moderate this trash advertising out. I DVR everything I watch and fast forward through all commercials.

  • Rev. Reggie Jackson

    Wall Street is not about to go into a panic mood. They are already in a panic mode. And that is because they are getting reports about the very dismal job performance and unemployment figures. And you have people on Wall Street that have been made very very rich; and now, the International Bankers/Illuminati are going after their money. And these devils mentioned above will probably bankrupt Wall Street also; and show them who is really boss; like they did in the 1929, depression.

    But their grand finale is to have World War 3; and to force everybody that is left from the war to receive their zombie making and mind controlling, mark of the beast chip in peoples foreheads or hands. And according to Revelation 13 and 14:9-11, if you take their Mark (chip), God will forever have you in the great lake of fire and brimstone, 24/7, and without rest. Why? Because it will mean that you have joined and sided with Satan and his antichrist beast leader; and their leaders.

  • MadMarkie

    Greetings and good morning to all.

    Please don’t bother yourself to get upset over all of the issues being expressed here. The ‘deed’ has already been done boys & girls. Remember the old saying; “Don’t get upset over spilled milk”?. You can’t put it back into the glass no matter how hard you try. As you read this post; the glass is already laying there on its side empty, and the milk is starting to spoil and smell. We, as a country and a society, have already passed the ‘point-of-no-return’ with regards to our economy a long time ago.

    If you haven’t already taken care of the lion’s share of your preparations to care for yourself and your family during the ‘helter-skelter’ fast approaching; then I would suggest becoming double-jointed at the hips so that you can kiss your axx goodby when TSHTF. It will ….. much sooner than later.

    More and more people are waking up each and every day to the fact that the emperor is, in fact, walking down the street ‘buck-assed-naked’ as opposed to wearing a fabulous set of wonderful new clothes.

    God Bless and the best of luck to you and your family.

  • sharky

    As long as the same greedy crooks are in charge of our government, things will continue to get worse. Vote against Dems & Reps. They are all doing it to us. Vote Green, vote Libertarian, vote Independent, vote Communist for all I care, just stop voting for the crooked idiots that are currently running our country into the ground.

  • http://www.nocreditcheckloansbadcreditmortgages.co.uk/ Clyde Grohoske

    I am tired and sick of hearing about the “US economic recovery”. The US government borrowed and spent $6.1T during the last four years to obtain a cumulative $700 billion increase in the nation’s Gross domestic product. That means we’ve borrowed and spent $8.70 for every $1 of nominal “growth” in Gross domestic product. In constant dollars, Gross domestic product is flat, we have no “economic growth” at all for the $6.1 trillion. In constant US dollars, the GDP in 2011 might return to the 2007 level, if the US economy continues “growing” at the same rate reached in the first 90 days of 2011. If not, then the GDP will actually be below pre-recession levels. There is no economic recovery, the facts prove this.

  • Tam

    Dmitry Orlov has some of the best advice I’ve seen.

    Search for “five stages of collapse” for some interesting articles and interviews, but I highly recommend his book “Reinventing Collapse” for anyone trying to prepare for what’s happening. He has excellent advice, largely based on how the Russians handled the soviet collapse.

  • http://www.riocasinos.net/pt JoRio

    US now are in more friendly waters…
    We’ve to look better to Europe, bad things are happening now there and it can be nocive to our economy