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21 Signs Of Impending Doom For The 2011 Economy

If you are not aware of how rapidly the global economic situation is unraveling you need to snap out of it and start paying attention.  The world economy was relatively stable in 2010, but here in 2011 things are deteriorating very quickly.  Right now there is major civil unrest in at least a dozen different nations in Africa and the Middle East.  The civil war going on in Libya has sent the price of oil skyrocketing and the protests that are scheduled to begin in Saudi Arabia later this month could send oil prices even higher.  Meanwhile, the sovereign debt crisis in Europe just seems to get worse by the day.  Several nations in Europe are suddenly finding that it has become extremely expensive to finance more debt.  It appears that it will only be a matter of time before more bailouts are needed.  Meanwhile, the United States is also covered in a sea of red ink and the economic situation in the largest economy on earth continues to deteriorate rapidly.  It is as if the entire world financial system has caught a virus that it just can’t shake, and now it looks like another massive wave of financial disaster could be about to strike.  Does the global economy have enough strength to weather a major oil crisis in 2011?  How much debt can the largest nations in North America and Europe take on before the entire system collapses under the weight?  Will 2011 be a repeat of 2008 or are we going to be able to get through the rest of the year okay?  Only time will tell.

But it is quickly becoming clear that we are reaching a tipping point.  If the price of oil keeps going up, all hopes for any kind of an “economic recovery” will be completely wiped out.  But if the globe does experience another economic slowdown, it could potentially turn the simmering sovereign debt crisis into an absolute nightmare.  The U.S. and most nations in Europe are having a very difficult time servicing their debts and they desperately need tax revenues to increase.  If another major economic downturn causes tax revenues to go down again it could unleash absolute chaos on world financial markets.

The global economy is more interconnected than ever, and so a major crisis in one area of the world can have a cascading effect on the rest of the globe.  Just as we saw back in 2008, if financial disaster strikes nobody is going to escape completely unscathed.

So what should we expect for the rest of 2011?  Well, the truth is that it doesn’t look good.  The following are 21 signs of impending doom for the 2011 economy….

#1 The civil war in Libya now looks like it could drag on for an extended period of time, and that is likely to drive the global price of oil even higher.

#2 Barack Obama is publicly saying that NATO is now considering “potential military options” for solving the crisis in Libya.

#3 Kuwait exports more oil than Libya does, and it looks like the civil unrest that has been sweeping the rest of the Middle East is now starting to spread to that country.

#4 In Saudi Arabia, protest groups are planning a “Day of Rage” on March 11th.  If a revolution breaks out in that nation the entire global economy is going to be thrown into turmoil.

#5 The average price of a gallon of gasoline in the United States increased by 33 cents during the two-week period that ended last Friday.

#6 According to the Oil Price Information Service, U.S. drivers spent an average of $347 on gasoline during the month of February, which was 30 percent more than a year earlier.

#7 It is being reported that the average price of a gallon of gasoline in Europe has hit an all-time record of $8.63 a gallon.

#8 Ivory Coast produces nearly 40 percent of all the cocoa in the world and protests against the government there are becoming increasingly violent.  If this violence continues to escalate you will soon be paying a lot more for chocolate.

#9 The yield on 10-year Portuguese bonds has increased to 7.6%.

#10 The yield on 10-year Irish bonds has soared to 8.1%.

#11 The yield on 10-year Greek bonds has skyrocketed to a whopping 12.8%.

#12 Moody’s Investors Service has reduced the rating of Greek government debt three levels all the way down to B1.

#13 According to the United Nations, the global price of food set another brand new record high during the month of February.  That was the 8th month in a row that global food prices have gone up.

#14 According to the World Bank, global food prices have soared 29% over the last 12 months.

#15 The United Nations is projecting that the global price of food will increase by another 30 percent by the end of 2011.

#16 23 percent of all residential properties with a mortgage in the U.S. were in negative equity as of the end of 2010.

#17 In the state of Nevada, approximately 65 percent of all homeowners with a mortgage owe more on their mortgages than their homes are worth.

#18 Two years ago, the average U.S. homeowner that was being foreclosed upon had not made a mortgage payment in 11 months.  Today, the average U.S. homeowner that is being foreclosed upon has not made a mortgage payment in 17 months.

#19 Since 2005, the United States has shelled out 1.1 trillion dollars for products from China but China has only spent 272 billion dollars on products from the United States.  This trade imbalance is causing the global financial system to become increasingly unstable.

#20 Collectively, the 50 U.S. state governments are facing a budget shortfall of 125 billion dollars for fiscal 2012.

#21 The U.S. government had a budget deficit of 233 billion dollars during the month of February, which was the largest federal budget deficit ever recorded for a single month.

We are living in the middle of the biggest debt bubble in the history of the world, and a major oil crisis could potentially be the needle that bursts it for good.  But if the global debt bubble bursts it is going to be a financial disaster unlike anything we have ever seen before.

Let’s hope that things can hold together for the rest of 2011, but right now things look really shaky.

You might want to make sure that your assets are protected and that you are not overexposed because a lot of people are going to get wiped out if things take a turn for the worse.

The economic good times that so many of us have enjoyed for decades are not guaranteed to last forever.  The world is changing and it is becoming increasingly unstable.

Nobody is quite sure what is going to happen next, but at this point just about anything is possible.

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  • http://www.RealitySlapNow.com Kyle G

    Awesome Stuff man thanks! I’ll be reposting this on atleast one but probably both of my websites, as well as probably adding you as a link and checking back here regularly for ‘ammunition’ if you will. Keep up the good work!

  • William

    There is no shortage of oil in America. The reason that the price of oil and gas are going UP is that the criminal trash of Wall St have again entered in a BIG way (as they did in 2008) the oil markets. This has driven UP the price of oil…..all speculation.

  • http://www.pure-eau.co.uk/water-coolers.cfm clare.strong

    I agree with the article – we are living in depressing times and reports like this just simply highlight the Worlds instability. The UK is suffering substantially with the Government firefighting to drag us out of the recession. Every World crisis has a rippling effect….

  • bobinsherwood

    People with money to spend may spend their money on anything that it is legal to purchase. That is called Freedom. If the spending, gambling, and investing causes prices to rise that is called Supply and Demand. Apparently 35% of Americans get paid for doing nothing. That is called Socialism. If I was getting Free Money from Uncle Sam, I would be buying those very items that people are whining about their rising prices. That is called being Prudent. Not doing so is just a “Darwinian” dead end. SOTF!

  • Colin

    I am scared by what is happening and I am hunkering down praying that whatever happens will pass me by and won’t leave me too badly damaged.

  • A Dodgy Bloke

    There is no shortage of stupity in the world some of you guys should read some of the foreign papers on line. Greece had just been down graded they are facing 150% debt to GDP in the near future. Some buyers of Greek bonds are resigned to the obvious they’re never to get their money back. The Germans are mad and it looks like no more bailouts of EU members (We’ll see). Oh did anybody mention Japan is at 200% of GDP, and for further chuckles, Goggle “Ghost Cities China” You’ll see how China is getting all those smoking GDP numbers.

    A no fly zone is not going to help the situation in Libya they had a No fly Zone for how long in Iraq before George W succeeded in getting a bunch of US kids and Iraqis killed? It wont help the rebels, Madman is getting help of Zimbabwe, and most of Islamic Sub-Saharan Africa, Syria, and god knows who else this is going to be Bosnia in North Africa. Sit down, strap in, shut up and hang on it’s going to be a sick twisted ride. (Hope you boys have stocked up 12 gauge)

  • VegasBob

    What is absolutely hilarious is that as a result of all his money-printing, Ben ‘Bernokio’ Bernanke is happy to take credit for rising stock prices, but in the same breath denies that his money-printing is fueling the skyrocketing prices of commodities.

    What hypocrisy!

  • http://www.mikewgoodwin.com MikeG

    It sure is moving quickly . They just DOWNDRADED SPAIN today March 11, just 4 hours ago.
    You guys in the US will see it when you have breakfast.Stock markets are going down again.
    Love from sunny London,UK

  • http://SteveQuayle gideon

    Whats holding the Fed Reserve note and U.S. economy together?-bailing wire, duct tape and lies.-This shaking is economic,… and soon to become physical and catstrophic,..the buyer and seller, borrower and lender, debtor and creditor,.Behold The Lord turneth the earth upside down -Isaiah 24:1-2

  • She Who Quietly Listens

    To DODGY BLOKE: You sound negative, but you are indeed correct. We hate to hear the truth, but nevertheless, the truth is what it is. I will tell you this – America deserves what is coming. Too much American trash taking advantage of the system, and not enough Americans who care to do anything more than let the tv media infiltrate their feeble minds and dictate what they should/should not believe. Hard times? HA HA HA Americans don’t know what “hard times” is, but they will soon enough. Strap yourselves in your seat, cuz the ride will be hard. For those out there that still have their head in the clouds, you deserve what’s coming, because you are SO DISCONNECTED. Keep going out to eat, keep spending, spending, spending cuz our time is coming quick.

  • Eric

    This world is growing increasingly darker by the day. The oil situation, the middle east violence, the death of the US dollar and the fiat financial system…this has become a world of very little peace. Very little peace in the hearts and mind of the people too. What’s next?!

  • kelland

    where are you obammneacs now? hows your turd world president and his change from hope doing?

  • Jerry

    My advice: Learn how to read, and maybe you’ll come across things like Peak Oil theory; facts like US oil production having peaked in DEC, 1970. Or that conventional global oil production hit a plateau in 2006, and is ready to start going into freefall any year now, since small new discoveries (which actually peaked in the mid-1960′s) are barely keeping up with the declining production rates of existing fields.

    My name used to link to a website, http://www.suburban-self-reliance.com. It was a Survivalism/Preparedness oriented website. However, being a suburban prepper with the paramount need for OPSEC, I shut the site down, due to the rapid rate of events, locally, nationally, and globally. Time to hunker down.

    The Middle East has no spare production capacity at the moment (you know, like the Wikileaks cable that confirmed what alot of people knew about the Saudis lying their asses off about their reserves?). At least the Chinese had the foresight to at least build alot of refineries specifically designed to handle heavy sour crude.

    Get ready for hell.

  • Jay

    Financial problem? America doesn’t have a financial problem. America has a moral and spiritual problem. If America had a financial problem, there wouldn’t be millions of automobiles rolling down the street and upity clothing stores selling clothes to rich women who drive high end automobiles. There wouldn’t be row after row of manicured lawns in front of perfect houses and road crews patching the pavement and airports filled with millions of passengers going on vacation and airplanes with every seat full.

    No, America doesn’t have a financial problem; it has a moral and spiritual problem that has caused it to forget God and turn to all of the above mentioned material things instead of worshiping God. God will not take second place priority to anything or anyone. But as the author above and many of the other comments reflect, God can take all of those nice material things away in a matter of seconds and most of that time will just be the time required for people to realize what has just happened. It’s not going to be pretty folks. Riches do not profit in the day of Gods wrath.

  • http://www.spiritjewelry.info Suzanne

    China just announced they will not take any currency other than their own in exchange for their goods and services, beginning this September! No dollars.
    The BRIC countries are already erecting barriers to the dollar (“hot money”) by taxing it at the exchange counter.
    Those high yields for European countries’ bonds are a come-on to get hedge funds and retirement funds to buy their T-bills (their debt) for as long as they can sustain the ponzi scheme.

  • wesin truble

    Personally Im all prayed out.Its time to prep
    folks God does not want to get involved

  • wesin truble

    The really rich and shameless want to reduce the human population to three hundred million.
    A good famine a few nasty viruses and a really efficient third world war will do the trick

  • B W

    All of you jokers have forgotten the most important thing. Prices of food, oil, or any thing else never goes up. THE VALUE OF YOUR MONEY GOES DOWN. Think CENTRAL BANKING, and you will finally understand why the Middle East is exploding. Everywhere else soon to follow.

  • http://www.pathtoasia.com rhea

    A year of upheaval.Geopolitical events can unravel very quickly, and the current Middle East crisis and Natural disasters all over the world just add up it. We are living in volatile times.

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs/

  • Coonass

    WAKE UP !!!!!!!!!!!!!!!!!!!!!!!!!!!
    READ GENESIS( ABOUT JOSEPH AND NOAH )
    GET PREPARED, BECAUSE WE CANNOT STOP IT, FOR GODS JUDGMENT THAT IS.
    PREPARE YOUR HEART FOR GOD, THEN PREPARE YOUR PANTRY. READ GENESIS!!!!!!!!!!!!!!!

  • buck

    Well spoken Jay!

    “all these things”

  • Andy

    You think the redemtion of the Lord is nie!!!! Oh yes it is and as Christians like myself I pray for Gods Mercy on this USA and His will be done. There is hope for the beliver in Jesus Christ and that is a promise from Almighty God the God of Abraham, Isaac and Jacob.

  • http://gulfliving4u@gmail.com Joshua

    If you have truly believed on the Lord Jesus Christ…you would know and understand what is taking place on this earth! We are in the last minutes of the last days, on the door step of the Tribulation period and the Rapture of the Church! God is trying to get your attention and to get you to turn unto Him and believe His message to you..That he loves you and Jesus had paid for all of your sins and wants you to believe Him and be saved. Believing Him is all it takes, “For by Grace are you saved thru faith, not of works, lest any man should boast”! Pay attention while there is still time left! You don’t have much left!

    Thanks for the article…good job!

  • Russ

    Here’s how to be a follower of Jesus. There is no time like the present, for the bible I read says, today is the day of salvation.

    http://www.raptureready.com/rap82.html

  • http://FaceBook GENE

    Prophets of doom have always been around. They are just “fear-mongers”! Have we seen the fullness of the Gentiles? Have we seen all of the OT and NT prophesies fullfilled?

    FAITH is the opposite of FEAR!
    HOPE is the opposite of DOUBT!
    LOVE is the opposite of SELFISHNESS!
    TRUST is the opposite of WORRY!

    GOD IS STILL IN CONTROL!

    “Do not be conformed to this world,
    but be transformed by the renewing of your mind,
    that you may prove what the will of God is,
    that which is good and acceptable and perfect.”
    (Romans 12:2)

    HAVE NO FEAR! HAVE THE MIND IN YOU THAT WAS IN CHRIST JESUS! LISTEN, LEARN, LOVE, AND FOLLOW HIM!

  • jules10003

    I totally agree with the person who said that the US is both spiritually and morally bankrupt and not financially. There is way too much materialism. If you go to other countries then you see the misery. I agree that the US is going to be judged soon. People look at that dirty Hollywood with their terrible morals and want their kids to follow after them. American people can only blame themselves and stop putting the blame on other countries for your dirty deeds.

  • http://FilesFromToni.blogspot.com Miss Luci

    To Joshua:

    The catching away of the elect/church/saints of God is not until the 6th seal is opened. Chapter 6:17,”For the gread day of his wrath is come; and who shall be able to stand?” This is the wrath of God that His people are delivered from. You will be here for the great tribulation, unless you die first, so best prepare. The Lord came once to atone for the sins of mankind in the first century, He only comes back one more time, or a second time, at Armageddon, to those who look for him unto salvation. Hebrews 9:28. There is no secret pre-trib rapture, wedding party in the sky.

  • Coonass

    Amen Andy, joshua, and Russ.

  • Cat Callahan

    The Christians hit the nail on the head! Get saved today! Follow the way, the truth, and the light! do NOT believe that people like the Bush family are Christians. Christians do not join things likeSkull and Bones(which honors SATAN) NOR DO THEY LOVE WAR AND INSTIGATE IT AT EVERY TURN! wAKE UP! war is satanic sacrifice!

  • Lewis

    Luke 21:28 “… look up, and lift up your heads; for your redemption draweth nigh.”

  • gforce

    Sigh,

    I was sort of hoping that the level of discourse at this website would be a mite higher than that of your average “prepper” website… you know, people allready informed about Peak Oil and perhaps not going on and on about the wrath of God. Too bad, because I like this website. Oh well, I guess I’m just a screamin’ elitist. Well, I’m just going to head on back to the Post Carbon Institute for some more rational discussions. Now, let the abuse begin….

  • Dejavous

    God is waking the world as he always does with natural disasters to announce to the world that he is very near. I personally look for these signs to continue and get more severe to announce the last seconds. Events to watch for to follow the timeline are below.
    Psalms-83 battle with Asaiah 17 Burden of Damascus to be followed by Ezekiel 38-39. I am a pre-trib believer so I beieve that the rapture should fall either between Psalms-83 and Ezekiel or between Ezekiel and the beginning of tribulation heralded by the conformation of the seven year treaty with the many.

  • http://www.shopfloortalk.com Lemke

    To comment on the oil pricing climing. The single greatest factor in out high oil pricing is not Wall St. but Washington DC. Washington in particularly the Congress in their spending frenzy have driven down the value of the dollar so far that the price of oil has risen greatly, the second factor is increased demand in industrially emerging countries like China and India. If the dollar was as strong as it was in the late 90′s we would be paying ~$1.50-1.75 a gallon for gas, but with the current weakness we are close to $4.00. Do not blame speculation or Wall St. they are just doing what they have always done. Blame the idiots running the country they are doing the real damage.

  • Shirene

    People need to stop spilling out about God. It’s not going to help your earthly-situation. Saying “it’s the end” is just another way of avoidance of our situation. It’s not the end every time something bad happens. I remember someone say it’s the end in 2000, it’s the end at Katrina, it’s the end it’s the end it’s the end. It’s not the end until the end so stop talking about it like it MATTERS. when the end comes we will all know

    MAN UP

  • http://jenniferkizzy jennifer stewart

    before i had a computer i was told it would be fire and brim stone that ended the world not mis information and stupid you tube videos my dad told me it will end one day but you me and the rest of these moron’s won’t he here too witness it so all in all just keep a close watch out for the volcano in yellow stone national park bye see ya

  • http://jenniferkizzy jennifer stewart

    i say that because it is slated too erupt and if it does it will send massive amount’s of ash and u’v blocking ash into the earth’s atmoshpere killing us all so yeah no sun light no food no food no water no water no growth so their look it all up bye