11 Economic Crashes That Are Happening RIGHT NOW

The stock market is not crashing yet, but there are lots of other market crashes happening in the financial world right now.  Just like we saw back in 2008, it is taking stocks a little bit of extra time to catch up with economic reality.  But almost everywhere else you look, there are signs that a financial avalanche has begun.
Economic-Collapse-2013-Time-to-brace-for-crash
Bitcoins are crashing, gold and silver are plunging, the price of oil and the overall demand for energy continue to decline, markets all over Europe are collapsing and consumer confidence in the United States just had the biggest miss relative to expectations that has ever been recorded.  In many ways, all of this is extremely reminiscent of 2008.

Other than the Bitcoin collapse, almost everything else that is happening now also happened back then.  So does that mean that a horrible stock market crash is coming as well?  Without a doubt, one is coming at some point. The only question is whether it will be sooner or later.  Meanwhile, there are a whole lot of other economic crashes that deserve out attention at the moment.

The following are 11 economic crashes that are happening RIGHT NOW…

#1 Bitcoins

As I write this, the price of Bitcoins has fallen more than 70 percent from where it was on Wednesday.  This is one of the reasons why I have never recommended Bitcoins to anyone.  Yes, alternative currencies are a good thing, but there are a lot of big problems with Bitcoins.  Why would anyone want to invest in a currency that could lose 70 percent of its purchasing power in just two days? Why would anyone want to invest in a currency where a single person can arbitrarily decide to suspend trading in that currency at any time?

An article by Mike Adams of Natural News described some of the things that we have learned about Bitcoins this week…

#1) The bitcoin infrastructure cannot handle a selloff. Once the rush for the exits gains momentum, you will not be able to get out. Only those who sell early will be able to exit the market.

#2) The bitcoin infrastructure is subject to the whims of just one person running MTGox who can arbitrarily decide to shut it down whenever he thinks the market needs a “cooling period.” This is nearly equivalent to a financial dictatorship where one person calls the shots.

#3) Every piece of bad news will be “spun” by exchanges like MTGox into good-sounding news. As bitcoin was crashing yesterday by 60% in value in mere hours, MTGox announced it was a “victim of our own success!” So while bitcoin holders watched $1 billion in market valuation evaporate, MTGox called it a success. Gee, then what would you call it when bitcoin loses 99%? A “raging” success?

#2 Gold

The price of gold was down by about 4 percent on Friday.  Gold has now fallen below $1500 an ounce for the first time since July 2011.  Overall, the price of gold has fallen by about 10 percent since the beginning of the year, and it is about 22 percent below the record high set back in September 2011.

Yes, the price of gold is likely being pushed down by the banksters.  And yes, gold is a fantastic investment for the long-term.  But there will be times when the price of gold does fall dramatically just like we saw back in 2008.

#3 Silver

The price of silver fell title=”by about 5 percent”>by about 5 percent on Friday.  If it falls much more it is going to be at a level that presents a historically good buying opportunity.

Just like gold, there will be times when the price of silver swings dramatically.  But the truth is that silver is probably an even better long-term investment than gold is.

#4 Oil

The price of oil declined by about 3 percent on Friday.  Many will consider this a positive thing, but just remember what happened back in 2008.  Back then, the price of oil dropped like a rock.  If the price of oil gets below $80, that could very well be a clear signal that a major economic crisis is about to happen.

#5 Consumer Confidence

As I mentioned above, consumer confidence in the U.S. just had its biggest miss relative to expectations that has ever been recorded.  The following is from an article posted on Zero Hedge on Friday

Well if this doesn’t send the market into all-time record high territory, nothing ever will: seconds ago the UMich Consumer Confidence plummeted from 78.6 to 72.3, on expectations of an unchanged 78.6 print. This was not only a 9 month low in the index, but more importantly the biggest miss to expectations in recorded history!

#6 Retirement Accounts

According to Wells Fargo, the number of Americans taking loans from their 401(k) accounts has risen by 28 percent over the past year…

Through an analysis of participants enrolled in Wells Fargo-administered defined contribution plans, the bank announced today that in the fourth quarter of 2012, there was a 28 percent increase in the number of people taking loans out from their 401(k) and that the average new loan balances increased to $7,126 from those taken out in the fourth quarter of 2011 – a 7% increase from $6,662.

Of the participants who took out loans, the greatest percentage were to people in their 50s (34.2%), followed by those in their 60s (28.9%) and then by those in their 40s (27.3%). The increase among participants in their 50s was nearly double the increase among those under 30. This is based on an analysis of a subset of 1.9 million eligible participants in retirement plans that Wells Fargo administers.

“The increased loan activity particularly among older participants is concerning because those are the years when workers can start to make ‘catch-up’ contributions and really need to focus on preparing for retirement,” said Laurie Nordquist, director of Wells Fargo Retirement.

#7 Casino Spending

Casino spending is declining again.  Many people (including myself) would consider this to be a good thing, but casino spending is also one of the most reliable indicators about the overall health of the economy.  Remember, casino spending crashed during the last financial crisis as well.  That is why it is so alarming that casino spending is now back to levels that we have not seen since the last recession.

#8 Employment In Greece

Over in Europe, things just continue to get worse.  According to numbers that were just released, the unemployment rate in Greece has soared to 27.2 percent, which was up from 25.7 percent the previous month.  That means that the unemployment rate in Greece rose by 1.5 percent in just a single month.  That is not just a crash – that is an avalanche of unemployment.

#9 European Financial Stocks

European financial stocks have been hit particularly hard lately.  And for good reason actually – most of the major banks in Europe are essentially insolvent at this point.  This week, European financial stocks fell to seven month lows, and this is probably only just the beginning.

#10 Spanish Bankruptcies

According to Reuters, the number of Spanish companies going bankrupt has risen by 45 percent over the past year…

A record number of Spanish companies went bust in the first quarter of 2013 as companies remained under intense pressure from tight credit conditions and meager demand, a study showed on Monday.

The 2,564 firms filing for insolvency proceedings in first three months of the year was a 10 percent rise from the previous quarter and a 45 percent increase on the same period in 2012, the survey by credit rating agency Axesor said.

#11 Demand For Energy

Just like we saw back in 2008, the overall demand for energy in the United States is falling rapidly.  There are some shocking charts that prove this that were recently posted on Zero Hedge that you can find right here.

Yes, it is good for people to use a bit less energy, but it is also a clear indication that economic activity is really starting to slow down.

But despite everything that you have just read, the Dow and the S&P 500 have been setting new record highs.

And if you listen to the mainstream media, you would think that this stock market bubble can continue indefinitely.

Fortunately, there are a few voices of reason out there.  For example, just check out what Marc Faber recently told CNBC

In the near-term, the U.S. stock market is overbought and adding that any more near-term gains portend big trouble for the market, “The Gloom, Boom & Doom Report” publisher Marc Faber told CNBC on Monday.

“If we continue to move up, the probability of a crash becomes higher,” Faber predicted in a “Squawk Box” interview, saying it could happen “sometime in the second half of this year.”

As I have written about previously, a bubble is always the biggest right before it bursts.  I hope that we still have at least a little bit more time before it happens, but I wouldn’t count on it.

The economic fundamentals tell us that the stock market should be plunging, not rising.  At some point the boys over on Wall Street will get the message and the market will catch up to reality very, very rapidly.

But for the moment, the American people are feeling really good.  According to CNN, Americans are now more optimistic than they have been in six years…

As the stock market continues to show record highs, the number of Americans who say things are going well in the country has reached 50% for the first time in more than six years, according to a new national survey.

So what do you think will happen for the rest of the year?

Do you think that the good times will continue to roll, or do you believe that the bubble is about to burst?

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21 Responses to "11 Economic Crashes That Are Happening RIGHT NOW"

  1. Janelle  April 13, 2013 at 6:20 am

    who cares…! its always been a matter of not if but when… the monetary system is a big failure any way you look at it – about time we changed to a more viable and fair and just system that is based on preserving the environment and healthy happy living all round… I can’t wait for a massive economic collapse – then maybe more people will get the message and start becoming more self sufficient, responsible and begin a new better sustainable system…

    Reply
    • aaron  April 13, 2013 at 6:35 am

      Unfortunately that’s probably just wishful thinking. People are too ignorant, they will never learn. they will simply blame it all on government, fixing nothing and never admitting that it’s partially their fault.

    • Lora Jasan  April 13, 2013 at 1:30 pm

      HOW is the question, Janelle. Most ordinary ‘Merkuns have no clue that an alternative exists. Those are the people who will panic.

    • Dave  June 17, 2013 at 8:54 am

      of course, you’re right, except you forget the fact that the majority of people in the west rely on a functioning consumer society for the money they need to live. It’s not like we can all suddenly turn from tower block dwelling office employees into farmers living off the land! I recycle 90% of my trash, eat food in season, cook every day, grow herbs, turn off lights, ride a bike everywhere. But I don’t know how to grow vegetables, turn wheat into flour, create electricity, dig a well, build a shelter, fix a broken bone, or any of the myriad other things that would help me survive outside of the system. A massive economic crash is more likely to lead to a massive increase in crime, as people rob and rape and kill each other in order to survive, before a more self sufficient, responsible, and better system comes in to place

  2. L Kampinghorse  April 13, 2013 at 7:01 am

    This 11 item index is a crock, sorry but it is. For one the unemployment in Greece will grow immensely before it can straighten out, if and when.. The largest employer in Greece is the Government, this goes back over 30 years to where one did not run for office to better the Nation but to promise jobs with No Meaning or value within the Government just for the votes. Unqualified Government employees doing jobs they have NO Idea how to carry out. Someone (Henry Kissinger comes to mind) wanted to destroy Greece form within and when you have sold out politicians who’s pocket is what they are focused on rather the good of their nation these things happen. When the world forgets what Germany did in WW2 and allows them to do the same under the now cloak of the ‘EU’ what else can be the outcome of world economics? Sorry but if you want to fix what is broke, clean house, make those responsible accountable or shut the heck up.

    Reply
  3. blitzstorm  April 13, 2013 at 8:17 am

    The quoted article about Bitcoins by Mike Adams was written after he publicly said on radio just hours ahead of the drastic slide of this “Notgeld” money that this was going to happen because the big money players and various governments would not tolerate untraceable competition and that the temptation of the players to “Take the money and run” was too great to ignore. By the simple act of giving away a few thousand bitcoins suddenly the market for them crashed, look for someone that made a LOT of $ from that manipulated crash. {:~(
    Mike Adams often has a rave about things in his health directed news letter but he often points out/publishes things that many would rather NOT have in the public domain.

    Reply
  4. glancealot  April 13, 2013 at 9:26 am

    Silver historically 16-1 to Gold. Very good buy now for sure. . Activist is correct bubble always largest right before it pops and sticks all over your face…Glass Steagall needed again? Seems like world elite is causing and preparing for dollar world currency collapse. Interesting article and interview on King World News from McQuire on massive buying of Gold by China last few days..

    Reply
  5. pranaam  April 13, 2013 at 2:43 pm

    If there’s really a dollar world currency collapse, it will be the beginning of the end. Not that it hasn’t started yet, but that is when the games the rich play will turn us into real pawns.

    Reply
    • Kuli  April 13, 2013 at 7:10 pm

      What is the end? Every ending, is followed by a begining. ” The world order” might as well get changed a little, or a lot, but why should we be scared? Who is telling you to be scared? Who is scared, if not those who have something to lose? And what about those millions, or billions of people, who might as well gain? It is really dificult to say what might have happen, but it might not be as bad, as it looks…

  6. John Green  April 13, 2013 at 11:44 pm

    Was this article written by a True Activist Columnist or a frickin Wall Street Analist, (salesman)?

    Reply
  7. John Green  April 13, 2013 at 11:50 pm

    The US stock market just like just before Black Friday is bloated on false speculations in the fortune 500 stocks I believe in the very near future the ivory towers will come tumbling down, as will the 1%.

    Reply
  8. Truth Seekers  April 14, 2013 at 1:59 pm

    Is it at all possible that this economic collapse will send us into a so called “state of emergency”? If this is the case this is everything the controlling elite need. The laws are already set into place so that the president has complete control over everything in a state of emergency. Meanwhile internment/FEMA camps have been relentlessly built and staffed in the last few years. Not to mention, the controlling elite/1% will be bankrupting the general public with this crash. More power in their hands, less in ours. Could marshall law really be under way? I sure hope I’m wrong.

    Reply
    • Hopeful  April 24, 2013 at 7:17 pm

      I hope you are wrong too, but I do not think you are. It is going to get interesting. I hope my loved ones, and yours, live to see a better world.

    • Dave  June 17, 2013 at 9:00 am

      considering what is happening in Turkey and Brazil right now, it would seem that the controlling elite, puppet masters of the government and police, are already in the process of bringing about their complete control of our lives. I would call on the servants of these people to sacrifice themselves for the greater good by eliminating their employers, before more people die in the streets at the hands of the police

  9. Michelle  April 15, 2013 at 11:26 am

    What I would like to know is whats happening around the world financially. You only hear when a country crashes eg Cyprus. The rest of the time all you hear about is your own country and maybe America. Id rather have a global picture

    Reply
    • glancealot7  April 15, 2013 at 2:33 pm

      Get away from mainstream news. You will find another world.

    • Mike  May 5, 2013 at 8:04 pm

      Iceland.

  10. Harrison Terran  April 24, 2013 at 6:56 pm

    It seems to me that the economic crisis is going to keep us company for some time yet. Our politicians should address the issues with greater professionality. Perhaps they should engage the services of specialists in the economic crisis, as already happens in the USA. For example, by engaging the services of the Orlando Bisegna Index, some counties have resolved deficit problems and reduced unemployment. As for the “Terrible Troika”, the academic “research” on which this global austerity policy is based has been shown to be bogus (see Krugman’s: “The Excel Depression” in the nytimes). But, strangely, they are continuing on their path. It makes one wonder…

    Reply
    • Lora Jasan  May 5, 2013 at 9:36 pm

      The agenda has been fixed for some time, they’re hardly going to give it up now! After all, austerity is perfect for the .01% – they’re the ones profiting.

  11. drewman3425  May 22, 2013 at 2:18 am

    I don’t presume to know what’s going to happen, I just say keep the guns loaded and stay ready for anything.

    Reply
  12. The other guy  May 22, 2013 at 6:22 am

    yes, keep telling everyone its all crashing so that we can manifest it. fear sells, even when youre suppose to be the guys standing against it. its the one thing i hold against all of you, including David Icke, fear fear fear. thanks, but no thanks. keep your bullshit news, im done reading your articles.

    how to stop the terror, stop watching tv, listening to the news and reading fear inspired stories. like this one.

    Reply

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