The EVERYTHING Bubble: What’s Coming Will Be Much Worse Than 2008

The amount of negative issues the markets are ignoring is staggering.

1.     Italy’s banking system is on the verge of collapse. Nearly 20% of loans are non-performing (meaning garbage). This is not Greece. We’re talking about a €2 trillion banking system.

2.     The US is in recession. Consensus is that all is well, but industrial production, labor market conditions, the corporate bond market, C&I Delinquencies, the Conference Board Leading Indicator, Inventory Accumulation and ISM are screaming “RECESSION.” Continue reading