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Why Preppers Should Be THRILLED That The Stock Market Has Hit An All-Time High

NASDAQ stock market displays at Times Square - Photo by bfishadow on FlickrI am a prepper and I LOVE the fact that the stock market is at an all-time high.  In fact, I hope that it keeps going up for as long as possible.  Why?  Because it gives me more time to prepare for the inevitable collapse that is coming.  As I will discuss extensively below, anyone with half a brain should be able to see that a great financial disaster is coming to this nation.  If you still doubt this after reading this article, please go check out The Economic Collapse Blog where I have posted nearly 1000 articles that break this down in excruciating detail.  Unfortunately, a lot of preppers out there are being really, really stupid right now.  Over the past six months, I have noticed a tremendous amount of apathy among the prepper community.  A lot of preppers were doing really well for a while, but now a lot of them have apparently decided that we are no longer in imminent danger of an economic collapse and that instead of preparing it is time to party.  This is a critical mistake.  We should be thankful that this stock market bubble has given us a few more months to prepare.  Sadly, so many people out there are wasting this precious opportunity.

It is almost as if most people have forgotten what happened during the last financial crisis.  2008 may as well be ancient history for most Americans.

None of the underlying problems that plagued the U.S. economy back then have been fixed.

For example, the problem of having “too big to fail” banks has not been addressed.  In fact, “too big to fail” is now bigger than ever.

Over the past five years, the six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have gotten 37 percent larger.

Meanwhile, 1,400 smaller banks have quietly disappeared from the U.S. banking industry.

So we are far more vulnerable to a collapse of those banks in 2013 than we were in 2008.

And those banks continue to become even more reckless with their money and our money.

Right now, there are 4 U.S. banks that each have more than 40 TRILLION dollars worth of total exposure to derivatives…

———-

JPMorgan Chase

Total Assets: $1,948,150,000,000 (just over 1.9 trillion dollars)

Total Exposure To Derivatives: $70,287,894,000,000 (more than 70 trillion dollars)

Citibank

Total Assets: $1,306,258,000,000 (a bit more than 1.3 trillion dollars)

Total Exposure To Derivatives: $58,471,038,000,000 (more than 58 trillion dollars)

Bank Of America

Total Assets: $1,458,091,000,000 (a bit more than 1.4 trillion dollars)

Total Exposure To Derivatives: $44,543,003,000,000 (more than 44 trillion dollars)

Goldman Sachs

Total Assets: $113,743,000,000 (a bit more than 113 billion dollars – yes, you read that correctly)

Total Exposure To Derivatives: $42,251,600,000,000 (more than 42 trillion dollars)

———-

And the biggest chunk of those derivatives are interest rate derivatives.

According to the Bank for International Settlements, the global financial system has a total of 441 TRILLION dollars worth of exposure to interest rate derivatives.

Wall Street has been transformed into the largest and wildest casino the world has ever seen, and at some point all of this reckless gambling is going to end very, very badly.

Meanwhile, the U.S. government and national governments all over the planet continue to indulge in the greatest debt binge in the history of mankind.

As the Telegraph recently discussed, even the Bank for International Settlements is warning that government debt levels are way too high right now.  According to the BIS, total public and private debt levels are now 30 percent higher than they were in 2008…

“This looks like to me like 2007 all over again, but even worse,” said William White, the BIS’s former chief economist, famous for flagging the wild behavior in the debt markets before the global storm hit in 2008.

“All the previous imbalances are still there. Total public and private debt levels are 30pc higher as a share of GDP in the advanced economies than they were then, and we have added a whole new problem with bubbles in emerging markets that are ending in a boom-bust cycle,” said Mr White, now chairman of the OECD’s Economic Development and Review Committee.

Just consider what the United States has done since the last crisis.

We are on pace to more than double the national debt during the Obama years.

In other words, the U.S. government will take on more new debt during the 8 years of Obama than it did under all of the other presidents in U.S. history combined.

Oh yeah, this is going to end really well, isn’t it?

And the warnings are there.  Very smart people that have been consistently right in the past are warning that utter disaster is ahead.  For example, consider what Marc Faber is saying

Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”

When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”

And Peter Schiff (who I have a tremendous amount of respect for) has issued a similar warning…

Faber’s pessimism is matched by well-respected economist and investor Peter Schiff, the CEO of Euro Pacific Capital. Schiff remarks that the stock market collapse we experienced in 2008 “wasn’t the real crash. The real crash is coming.”

Now is not the time to be apathetic.

The next major wave of the economic collapse will not arrive until the next great financial panic strikes.

Since the stock market is sitting at a brand new all-time high at the moment, that probably means that we have a little bit of time.

Please use that time to prepare.

And is there anyone out there who can honestly say that they are “fully prepared” for what is coming?

I do know a few “extreme preppers” that I would say that about, but personally my wife and I are very thankful that we have more time to make our own personal preparations stronger.

Once upon a time, someone gave me the following piece of advice: “Don’t be stupid.”

And that is the encouragement that I would give the prepper community today.  Just because we haven’t gone off the edge of the cliff financially yet does not mean that everything is okay.  In fact, we are steamrolling toward the edge of the cliff more rapidly than ever.  It would take a miracle of Biblical proportions to keep us from the fate that we are heading for.

So if you are a prepper, don’t be disappointed that the economy has not collapsed yet and certainly do not be apathetic.

Instead, be thankful that you have been given a little bit more time to prepare, because the times that are coming are going to be more horrifying than almost any of us can imagine.

NASDAQ MarketSite TV studio - Photo by Luis Villa del Campo

  • Rodster

    As the saying goes in the Bible, “no one knows the day nor the hour but the Father”. ;)

    This is all the calm before the storm and we just skated by a debt default that could have brought the world’s economies to its knees. Well that has been pushed to January because we don’t know how that will play out.

    When the proverbial SHTF you will be glad you prepared. I have reduced my debt level to just the essentials. I’m using to buy some food, water and other essentials that even if you don’t use you can use to barter.

  • Tim

    I agree with you. But this just keeps dragging on and on. Prepping is expensive. And I’ve had to eat some of the food that I bought years ago so that it didn’t go to waste. I’m amazed that things are as good as they are, especially here in South Carolina. The next downturn may well result from a sudden, Lehman-type event.

  • A Dodgy Bloke

    The reason or the apathy in the prepper community is because people have been waiting since 2008 for collapse, hyper inflation, EMP, a invasion by China, or the four horseman, and nothing has happened. We are living in a land where most people have short attention spans. Most people including to many preppers get their information from the MSN. You need to do your own digging and be critical enough to sort the wheat from the chaff. Bad Ju,Ju is coming and you don’t need half a brain to figure it out, if you’re paying attention, and not watching FOX News paint smiley faces.

  • thoughtwrite

    The Lord comes as a thief in the night … at the rapture.. and also as a thief in the night with judgements.. to those that believe that ignorance is bliss. His command for these days is to “watch”. That goes for everything.

  • ElBrandonio

    The continuing rise of the market and the debt is only more frightening. We have much further to fall. One scenario I rarely see reported or talked about is the connection to this and terrorist threats. As we know, Terrorists are great at taking their time planning the next strike. High debt, record high stock market, and the plethora of other problems we have accrued is an ideal scenario that they have long prayed to the 72 virgins about. This is a nail in our coffin.

  • Richard

    Much as I appreciate and admire your work, Michael, I have tremendous problems with your suppositions above. First, prepping is ABSOLUTELY USELESS. If you want to survive, you HAVE TO LEAVE the United States and emigrate. The U.S. is finished. Life is about to become intolerable in that country. And, yes, THER ARE many countries “better” than the United States to live in right now: cheaper, more up-to-date, better healthcare, better education, more compassionate, less militaristic, more efficient use of tax money, much less dangerous, etc. etc. The U.S> was once a country to emigrate TO. Now it’s the country to emigrate FROM.
    Second, do you realise how WRONG both Schiff and Faber have been over these last five years? If you’d followed the investment advice of either of these two, you’d be wiped out today (buying gold, shorting the market, buying commodities, etc.) Please take care to do adequate research before making these kinds of recommendations.

    • Jim Davis

      Thanks for being the voice of reason. Things are definitely screwed up, but there sure are a lot of charlatans trying to cash in on the mess. And Schiff is an Israel-first neocon warmonger. I don’t trust him at all.

    • http://drwilsonpa@hotmail.com Donald Wilson

      You say there are many places better than
      the U.S. that may be true, however, you failed
      To provide the readers with any examples…
      Furthermore, in these unnamed countries that
      You failed to name can you own firearms? In your
      Discussion you are vet vague and ambiguous in
      Your answer.

      Good luck and Good night…

      • Capucine Altier

        From my Euro point of view. The only countries that are worth something in this world. Are Switzerland and the Austria. And I would place Austria even above the Switzerland. These two countries are where the future lies at least in Europe. I think Russia is gonna have a bright future too. That country is changing a lot. And not only economically but spiritually. Another place with a bright future is definitely California. They are gonna save this world through their inventions. Its the country that breeds great ideas important for the human evolution. If you wanna see the future. Live in California, even though it is probably in the same battle with the rest of the world for now. And then Im also sure there are many hidden treasures in US where people are going to be protected no matter what.

    • Capucine Altier

      And where would u like to hide for example? Asia? Europe is going down the hill probably even worse than US. The only okay countries are Switzerland and Austria. The rest is a garbage. Well regarding the Gold no one knows whats gonna happen. Some believe that he system will have to get back to what it used to be. But the thing is it probably won’t. And for those who dont believe in the old system, they believe in a bit coin instead. And some of the people dont believe neither one of these. But unfortunately most of those specialists and even common people believe that the only solution is going back where we used to be once. With all certainty the end of an era we used to know is about to happen in the next decade. The rest is gonna be a surprise like the Kinder Egg :))))) prepare for the next shock 2017 and onwards until at least 2025. Americans are going to fight the oppressor – their own government and the corporations and probably the other influential countries that would love to see America dead. (And no Im not talking about Russia now and Im not sarcastic either). Thats just from my astrological point of view that is currently pretty accurate. Next 7 months are going to be also extremely stressful especially for United States peaking around the April. God knows what will happen. But the pressure is going to accumulate a lot from inside and outside the US and the whole world. We are currently dealing with the craziest time in our history. And its just the beginning of the change!

  • Jim Davis

    Preppers need to prepare for a non-collapse as well as a collapse. I have been hearing about a “coming collapse” since the 70s. I have not seen it yet. That doesn’t mean it won’t happen but I think the more likely scenario is a continuation of the slow bleeding of the middle class for another decade or two. The elite still want the prole hamsters to spin their wheels. After there is nothing left to pilfer, then the global elite .0001% will let the “collapse” happen.

  • http://www.familysurvivalgroup.com Russ Rodriguiz

    Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

  • Uh-Huh

    I think we will see a global war before we see a global financial collapse.

  • MARKWW

    Better to have then have not in a uncertain world

  • MARKWW
  • Scout

    Michael,

    You are almost super human with all of the writing you do, and you prep too. Good.

    Yes it is coming and I am doing what you are doing, us preppers will not be disuaded because we are driven internally and just know.

    Here you go folks, good luck.

    http://www.theautomaticearth.com/Lifeboat/how-to-build-a-lifeboat.html

    http://www.theautomaticearth.com/Lifeboat/40-ways-to-lose-your-future.html

    http://theautomaticearth.com/Lifeboat/sandy-lessons-from-the-wake-of-the-storm.html

    http://theautomaticearth.com/Finance/the-world-according-to-the-automatic-earth-a-2013-primer-guide.html

    This is WHATS REALLY UP

    http://goldenjackass.com/main5.html

    http://investmentwatchblog.com/the-plane-truth-gas-and-gold-goodbye-to-the-petrodollar-with-jim-willie-pts-3073/

    Keep Prepping

    http://www.growyourowngroceries.org/how-to-identify-plants-quickly-botany-in-a-day-interview-with-thomas-elpel/?inf_contact_key=1a36c99cdf9e129a926adb887f0a5c517ce2d6cbad68b6eb44ad8598ec99205d

    http://www.buildanark.net/index.php?pages/Farmhouse%20Cheddar.html

    http://wakeup-world.com/2011/06/20/100-free-online-tools-to-learn-a-new-skill-in-almost-anything/

    http://www.peakprosperity.com/page/what-should-i-do

    http://www.hillbillyhousewife.com/

    So what should our new world look like if we can influence it?

    I say this matches our needs economically and ecologically. Just saying.

    http://www.renegadeeconomist.com/fourhorsemenfilm/the-27-principles.html

    http://www.henrygeorge.org/isms.htm

    Our false left right paradigm.

    https://libertyrevival.wordpress.com/2010/03/23/false-leftright-paradigm-marx-mises-and-keynes/

    One last thing – paging elephant – Fukushima.

    Reality sucks, huh?

    Fukiuhima Is Here (Actually everywhere!)

    http://www.zerohedge.com/contributed/2013-10-28/fukushima-here

    As I wrote you in August.

    http://www.zerohedge.com/news/2013-08-05/japan-finally-admits-truth-right-now-we-have-emergency-fukushima?page=2

    The Problem

    http://www.zerohedge.com/contributed/2013-07-20/“who-could-trust-such-company”-–-big-fat-lies-about-radiation-exposure-worker

    What you can personally do.

    Bio-accumulation will continue until it won’t be safe to eat seafood
    from the ocean. They know this but are afraid of telling about this
    horrible end. Remember those little fish and plankton and seaweed is
    being eaten by bigger animals and on and on. So the radiation is
    accumulating in more animals and they are irradiated. People are being
    led to believe that the radiation once water is on it just sloughs off
    and it’s clean again. The oceans, will take thousands of years to
    irradiate but it won’t happen because of the radiation going into all
    the lifeforms and being washed up on the shores and beaches. The life
    in the oceans will be unusable to us in a century maybe sooner than we
    think.

    http://enenews.com/

    http://fairewinds.com/

    Get informed.

    **********************************************************

    Countermeasures to share with your community…

    **********************************************************

    http://freedomguide.blogspot.ca/2011/05/farmwarsinfo-countering-radiological.html

    This is what us Gardeners Need to detox soil and ourselves

    calcium bentonite clay

    http://www.oasiscolonics.com/2011/03/protection-from-radiation-calcium-bentonite-clay.html

    This is what I got for my personal detox

    http://www.bulkherbstore.com/Detox-Plus

    Buy this in bulk for your garden.

    http://www.bulkapothecary.com/raw-ingredients/clays/bentonite-clay/

    FOR CHILDREN AND YOU AND THE HUMAN RACE

    Be well.

    God Bless You.

    PS) One last thing, I found another good anti-radiation article. http://blogs.naturalnews.com/the-top-14-supplements-for-radiation-protection/

  • K

    Most preppers get fatigue at some point. Most have had to make sacrifices, to be able to prep. Some have spouses, that do not agree with the need to prep. To these people, I remind you of a second reason to prep. Grocery prices continue to climb. There could come a time. When prices are so high, you can not afford your usual amount of groceries. Your preps will bridge that gap.

    • http://drwilsonpa@hotmail.com Donald Wilson

      Excellent sir…prices are climbing and the preps will help bridge the gap.

  • http://www.rofe.net MICHAEL ROFE

    Prepping will only help for a short time because anarchy will soon take over after a collapse.The Bible says flee to the wilderness when you the signs of tribulation starting. You will not be able to buy or sell without the mark of the beast and Christians will be hunted by bounty hunters.see http://www.rofe.net Armageddon when and how

    • K

      I already live in the wilderness, high in the mountains. And yes, I believe the Lord led me to this place.

      • Capucine Altier

        and where is that may i know? Id like to visit :) hahaha .. and hide till this madness stops

  • Barn Cat

    I just bought some more gold coins today. My goal is to have a year’s worth of food money in precious metals at current prices. If we have a long slow collapse with high inflation we’ll be able to buy food no matter how expensive it gets.

  • Uh-Huh

    Raise your hand…how many of you possess pre-Fukushima preps? Worth their weight in gold.

  • ML

    Evidently debt doesn’t matter. It gets to the point of the boy who cried wolf. Started watching all this in 06 when I realized the we would never have a budget surplus again, let alone pay off the national debt. Debt then was well below 10 trillion. Could not imagine this scheme could continue past 10-11-12 trillion. Now at 17+ trillion and still no rise in interest rates, no explosion in gold-silver-oil prices. So I am one of the guilty preppers whose apathy has risen in the last year. The one prep I’d like to increase is ammo – impossible now for almost a year to find .22 for even double what I was paying in 2012. Can someone explain that? I find it impossible to believe that supply cannot catch up with demand in a YEARS time.

  • Scout

    Get a pump air gun, compound bow, crossbow, wrist rocket, and a reloading kit for your regular guns.

  • Peter

    http://www.youtube.com/watch?v=xHYN7GaWTrg

    JESUS IS COMING BACK. WATCH THIS VIDEO.

  • Rick

    The Lord would have advised up to prep if it were necessary but He did not. If you plan on being here during the tribulation, no amount of prepping will assist you. The rapture removes believers before the wrath of God comes to this Earth. The bride of Christ will be gone suddenly and without warning.

  • Hammerstrike

    Folks, with growing inflation prepping is going to get harder and harder, jobs are going to be fewer and less well-paying too.