Global leaders have tried just about everything that they can think of, but the coming global financial catastrophe continues to march steadily toward us. We have seen “stimulus packages”, quantitative easing, bond buying, interest rate cuts, emergency economic summits, bailout packages for banks, bailout packages for entire nations, “Operation Twist”, unprecedented government intervention in business and massive amounts of new government debt and yet nothing seems to revive the global economy. In fact, it looks like we are rapidly heading into the second dip of a “double dip recession”. Unfortunately, many believe that this next dip will be more like a full-blown depression. All over the world, top economic experts are warning that we are facing an unprecedented crisis of debt and insolvency that will result in a global financial catastrophe. The eurozone is drowning in debt, the U.S. government is drowning in debt and major banks all over the globe are drowning in debt. Global authorities have been trying to patch the system together and keep it going, but the incredible damage that all of this debt has done is now becoming apparent to everyone. The global debt bubble that has fueled prosperity in the western world for the last several decades is getting ready to burst, and when that happens the chaos that will result will be absolutely horrifying. (Read More...)
Insolvency
47 Statistics That Indicate That Economic Stress Points In 2011 Could Be Setting The Stage For A Global Economic Meltdown In 2012
Is the world approaching a devastating global economic meltdown? Right now there are a large number of factors that are creating economic stress points all over the globe. All of the crazy money printing that the Federal Reserve and other central banks have been doing is putting inflationary pressure on agricultural commodities, oil and precious metals. Massive floods, horrific droughts and extreme weather patterns all over the globe are ruining crops and creating food shortages. Some nations are now actually hoarding food, and in other nations rising prices have sparked food riots. The price of oil has been moving back towards $100 a barrel, and if it stays at a high level for an extended period of time that is going to have very serious consequences for the global economy. In addition, the growing sovereign debt crisis could erupt again at any time. Half a dozen nations in Europe are on the verge of insolvency, Japan’s national debt is now well over 200 percent of GDP, and the global financial system is growing increasingly concerned about the exploding national debt of the United States. The truth is that the entire world financial system is a house of cards balanced on a razor’s edge and it could come down at any time. (Read More...)