Most Americans have no idea
how much economic trouble is heading our way. Most of them just assume
that everything will eventually "return to normal" just like it
always has before and that those running our economy "know what they are
doing" and that we should trust them to do their
jobs. Unfortunately, these beliefs are being reinforced by the bubble of
false hope that we are experiencing right now. For example, it is being
reported that weekly unemployment claims in the
Sadly, when you attempt to end (or
even slow down) a debt spiral the consequences can be extremely painful.
Just look at what is happening in
The rest of the nations of the eurozone are also now implementing austerity measures, and
most of them are also starting to fall into recession. The economic pain
And eventually the
And even in the short-term there are
some extremely troubling signs for the
The following are 19 signs of very serious economic trouble on the horizon....
#1 According to one new survey, approximately one-third of all Americans are not paying their bills on time at this point.
are right back where we were two years ago. I would put money on 2012 being a
bigger year for foreclosures than 2010," said Mark Seifert, executive
director of Empowering & Strengthening
#3 The Citigroup Economic Surprise Index, a key indicator watched by many economists, is on the verge of heading into negative territory.
#4 We are supposed
to be in the middle of an economic recovery in the
#5 Richard Russell says that the "big money" is starting to quietly exit from the financial markets....
"My guess is that this is the big money that has been holding off as long as it decently can -- and then dumping their goods just before the close. I don't think the big money likes this market, and I think they have been slowly exiting this market, as quietly as they can."
#6 Goldman Sachs is projecting that the S&P 500 will fall by about 11 percent by the end of 2012.
#7 All over the country, local governments are going into default and we have not even entered the next recession yet.
#9 The Federal Reserve is desperately trying
to control interest rates. The Fed purchased approximately 61 percent of all government debt issued
#10 German industrial production is falling at a pace that is far faster then expected.
#12 The Spanish government admitted on Tuesday that Spain's debt-to-GDP ratio will rise by more than 11 percent this year alone.
#13 Yields on Spanish bonds are rising to dangerous levels.
#14 The Spanish government is projecting that
the unemployment rate in
#16 In the aftermath
of a 77-year-old retiree killing himself in front of the Greek parliament in
protest over pension cuts, the economic rioting in
#17 At this point,
#18 The IMF is asking the
#19 At this point, even some of our top scientists are projecting economic trouble. For example, researchers at MIT are projecting a "global economic collapse" by the year 2030 if current trends continue.
But the truth is that we will experience a "global economic collapse" long before 2030 comes rolling around.
Let us hope that we still have at
least several more months of economic prosperity in the
The truth is that the vast majority of Americans need more time to prepare for what is coming.
Sadly, most Americans are not preparing. Most Americans have blind faith that those in positions of power are going to fix everything and set us on the path to even greater prosperity than ever before.
Unfortunately, all Federal Reserve Chairman Ben Bernanke and Barack Obama have been doing is kicking the can down the road and making our eventual collapse much worse.
As many of us have painfully learned, you can run from debt for a while, but you can't hide from it forever. Eventually debt catches up with you, and when it does it can be very cruel.
The 15 trillion dollar party is coming to an end, and the consequences of decades of very foolish decisions are going to fall on this generation.