GREECE’S troubled economy remains crippled with its citizens paying the price – one year on from the financial meltdown which pushed the eurozone to the brink.
Austerity measures slapped on the country by Brussels in return for a third bailout have meant stringent tax rises and harsh spending cuts.
Yet there is little sign that a recovery is in sight and many feel another disaster is looming.
Unemployment is close to 24 per cent. Continue reading
Italy is on the brink of financial and political meltdown and leader Matteo Renzi may be abut to push t over the edge by calling a referendum on constitutional reform in October, potentially plunging the already beleaguered European Union into fresh chaos.
Juan Toro of the International Monetary Fund (Fmi), said: “It is necessary to take significant measures in the recovery of credit.” Continue reading
BRITAIN and the world could be about to enter a recession that will be more brutal than 2008 thanks to China’s slowing economy, experts fear.
China’s has the second largest economy in the world and represents around 12 per cent of global GDP and 18 per cent of global manufacturing exports.
At the same time, it has built up huge levels of debt within its stock market helping to create a huge bubble that now looks set to burst. Continue reading
If you’d like to get a better idea of what the true level of unemployment is, check out this U.S. Bureau of Labor Statistics table… ‘U-6’ is what you want to see. Please also note, the methodology for coming up with these numbers was changed some years ago and still do not represent the true rates, which as Wynn says, are around 15% – 20% unemployment. Definitions have changed and some factors have been left out. For the foreseeable future, this is likely the most truth you’ll get from the government.
You can see the worthwhile 26 minute Steve Wynn’s KNPB interview HERE.
Las Vegas icon says don’t believe government stats on jobs, inflation
One of America’s most astute businessmen, known for having expanded the Las Vegas strip of resort hotels and casinos in the 1990s, says the U.S. remains mired in an economic funk and any talk of a broad recovery is “pure fiction. A lie.”
Steve Wynn, the 73-year-old founder and CEO of Wynn Resorts, made the comments in a televised interview with Jon Ralston of PBS’ “Ralston Live.” He opened the Wynn Hotel and casino in Macao, China, in 2006, and is known as an international gaming and casino magnate.
As Rahm Emanuel once said: You never let a serious crisis go to waste.
With economic collapse around the corner, and when it takes place, it would be the best time to fundamentally bring “change” to America in the way the Obama administration sees fit.
If you want to figure out what is going to happen next in the financial markets, carefully watch what the insiders are doing. Those that are “connected” have access to far better sources of information than the rest of us have, and if they hear that something big is coming up they will often make very significant moves with their money in anticipation of what is about to happen. Right now, Wall Street insiders and central banks all around the globe are making some very unusual moves. In fact, they appear to be rapidly preparing for something really big. So exactly what are they up to? In a previous article entitled “Are The Government And The Big Banks Quietly Preparing For An Imminent Financial Collapse?“, I speculated that they may be preparing for a financial meltdown of some sort. As I noted in that article, more than 600 banking executiveshave resigned from their positions over the past 12 months, and I have been personally told that a substantial number of Wall Street bankers have been shopping for “prepper properties” this summer. But now even more evidence has emerged that quiet preparations are being made for an imminent financial collapse. That doesn’t guarantee that something will happen or won’t happen. Like any good detective, we are gathering clues and trying to figure out what the evidence is telling us.
Why Is George Soros Selling So Much Stock And Buying So Much Gold?
I am certainly not a fan of George Soros. He has funneled millions upon millions of dollars into organizations that are trying to take America in the exact wrong direction.
However, I do recognize that he is extremely well connected in the financial world. Soros is almost always ahead of the curve on financial matters, and if something big is going to go down George Soros is probably going to know about it ahead of time.
Why would you dump over a million shares of stock in major banks and purchase more than 100 million dollars worth of gold?
Well, it would make perfect sense if you believed that a collapse of the financial system was about to happen.
Earlier this year, George Soros told the following to Newsweek….
“I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”
It looks like he is putting his money where his mouth is.
Perhaps even more disturbing is what he believes is coming after the financial collapse….
As anger rises, riots on the streets of American cities are inevitable. “Yes, yes, yes,” he says, almost gleefully. The response to the unrest could be more damaging than the violence itself. “It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.”
That doesn’t sound good.
George Soros has told us what he believes is going to happen, and now he is making moves with his money that indicate that he is convinced that it is actually about to start happening.
But he is not the only one that has been busy accumulating gold.
Billionaire John Paulson (the one that made 20 billion dollars on the subprime mortgage meltdown) has been buying gold like crazy and his company now “has 44 percent of its $24 billion fund exposed to bullion.”
So why are Soros and Paulson buying up so much gold?
Full article: Startling Evidence That Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIG (Economic Collapse Blog)