Newly released images created from NASA satellite data illustrate the staggering effect the California drought has had on groundwater supply in the state. As Mashable's Patrick Kulp explains, the images show the amount of water lost over the past 12 years, with different colors indicating severity over time. “Nobody has any idea how disastrous it’s going to be,” Mike Wade of California Farm [...]
Tag: economic collapse
Implications of an Ebola Pandemic in the US – Could Our Fragile Economy Handle the Shock?
By Michael Snyder For the moment, our top public health officials are quite adamant that there absolutely will not be a major Ebola outbreak in the United States. But what if they are wrong? Or what would happen if terrorists released a form of weaponized Ebola or weaponized smallpox in one of our major cities? What would such an event do to our economy? I think that we can get some clues by[...]
5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives
By Michael Snyder When is the U.S. banking system going to crash? I can sum it up in three words. Watch the derivatives. It used to be only four, but now there are five "too big to fail" banks in the United States that each have more than 40 trillion dollars in exposure to derivatives. Today, the U.S. national debt is sitting at a grand total of about 17.7 trillion dollars, so when we are[...]
Author James Rickards: Global Economy Is in ‘Indefinite Depression’
By Dan Weil It wouldn't be fair to call ace money manager James Rickards an optimist about the global economy. "We are in a depression. This is a global depression," the author of "The Death of Money: The Coming Collapse of the International Monetary System" told RT news service. "It started in 2007, and it is going to continue indefinitely. Depressions are structural, monetary solutions are[...]
The Collapse Of U.S. Silver Stocks As Public Debt Skyrockets
The U.S. Empire is in real trouble. This is due to its idiotic business model of selling quality assets while acquiring massive liabilities and debts. Of course, the U.S. Government realizes this is not a sustainable way to do business, but at least for now…. we continue to have our Bread & Circuses, McDonalds & NFL Football for a bit longer. Furthermore, Americans have no clue that[...]
Missing Money: What Government Accounting Really Looks Like
by Jeff Desjardins For some time now, the Government of the United States has been effectively checking through their couch for loose change. Anything helps, even if the debt owed is a staggering $17 trillion. Not only is the United States continuing to spend quite frivolously, sometimes they don’t know where the money is going. A thorough review of Uncle Sam’s accounting presents some[...]
Super-Rich Rush to Buy Gold Bars – What Do They Know?
Super-rich rush to buy 'Italian Job' style gold bars. Economic uncertainties trigger rush for 12.5kg gold bars, worth about £300,000 each. The super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts. The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when[...]
The Deteriorating Economic Outlook – Wake-Up, Face Facts & Prepare
By Paul Craig Roberts, Dave Kranzler and John Williams. The third and final estimate (until the annual GDP revisions) of first quarter 2014 real GDP growth released June 25 by the US Bureau of Economic Analysis was a 2.9% contraction in GDP growth, a 5.5 percentage point difference from the January forecast of 2.6% growth. Apparently, the first quarter contraction was dismissed by those[...]
Why Jobs Are Scarce, Wages Low and Government Can’t Help
Thursday, 10 Jul 2014 - By Peter Morici Americans keep hoping for a robust recovery — one that delivers better-paying jobs and decent returns on retirement savings. Changes in technology and the economy may require that never happens, and government efforts to improve conditions often multiply the misery. In 1908, Henry Ford had a great idea — the Model T — and a novel understanding of[...]
This Rolling Crisis Is About To Get Very Ugly – Richard Russell
From King World News: At nearly 90 years old, the Godfather of newsletter writers, Richard Russell, warned that he expects this ongoing crisis to get very ugly. He also believes that we are seeing the end of a historic event. The 60-year market veteran described the feeling as the same thing he felt as World War II was coming to a close. Russell: “In the 56 years I've been writing Dow Theory[...]