The
Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015
I have never done anything like this
before. Ever since I started The Economic Collapse Blog in late 2009, I
have never issued any kind of “red alert” for any specific period of
time. As an attorney, I was trained to be level-headed and to only come
to conclusions that were warranted by the evidence. So this is not
something that I am doing lightly. Based on information that I have
received, things that I have been told, and thousands of hours of research that
have gone into the publication of more than 1,300 articles about our ongoing
economic collapse, I have come to the conclusion that a major financial
collapse is imminent. Therefore, I am issuing a RED ALERT
for the last six months of 2015. (Read More....)
Why The Puerto Rico Debt Crisis Is Such A Huge Threat To The U.S.
Financial System
The
debt crisis in Puerto Rico could potentially cost financial institutions in the
United States tens of billions of dollars in losses. This week, Puerto
Rico Governor Alejandro Garcia Padilla publicly announced that Puerto
Rico’s 73 billion dollar debt is “not payable,” and a special adviser
that was recently appointed to help straighten out the island’s finances said
that it is “insolvent” and will totally run out of cash
very shortly. At this point, Puerto Rico’s debt is approximately 15 times
larger than the per capita median debt of the 50 U.S. states. Yes, the
Greek debt crisis is larger, as Greece currently owes about $350 billion to the
rest of the planet. But only about $14 billion of that total is owed to
U.S. financial institutions. But with Puerto Rico, things are very
different. Just about the entire 73 billion dollar debt is owed to U.S.
financial institutions, and this could potentially cause massive problems for
some extremely leveraged Wall Street firms. (Read More....)
