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Right now, red flags are popping up all over the place. Corporate insiders are selling off stock like there is no tomorrow, major economies all over Europe continue to implode, the IMF is warning that the eurozone could actually break up and there are signs of trouble at major banks all over the planet. Unfortunately, it looks like the period of relative stability that global financial markets have been enjoying is about to come to an end. A whole host of problems that have been festering just below the surface are starting to manifest, and we are beginning to see the ingredients for a "perfect storm" start to come together. The greatest global debt bubble in human history is showing signs that it is getting ready to burst, and when that happens the consequences are going to be absolutely horrific. Hopefully we still have at least a little bit more time before the global financial system implodes, but at this point it doesn't look like anything is going to be able to stop the chaos that is on the horizon.
22 Red flags
#1 Level of selling by insiders at corporations is the highest that it has been in almost a decade.
#2 Home prices in the United States have fallen for six months in a row.
#3 The Greek economy will shrink by another 5 percent this year.
#4 Greece is still going to have a budget deficit equivalent to about 7 percent of GDP in 2012.
#5 Interest rates on Italian and Spanish sovereign debt are rapidly rising.
#6 The government of Spain recently announced that its 2011 budget deficit was much larger than originally projected.
#7 Bad loans now make up 8.15 percent of all loans on the books of Spanish banks. Highest level in 18 years.
#8 One key Spanish stock index has already fallen by more than 19 percent so far this year.
#9 The Spanish government has announced a ban on all cash transactions larger than 2,500 euros. Many are interpreting this as a panic move.
#10 It is looking increasingly likely that a major bailout for Spain will be needed.
#11 Analysts at Moody's Analytics are warning that Italy has now reached financially unsustainable territory....
#12 The Portuguese economy will shrink by 5.7 percent during 2012.
#13 There is even trouble in European nations that have been considered relatively stable up to this point. For example, the Dutch government collapsed on Monday after austerity talks broke down.
#14 The head of the IMF, Christine Lagarde, says that there are "dark clouds on the horizon" for the global economy.
#15 The top economist for the IMF, Olivier Blanchard, recently made this statement: "One has the feeling that at any moment, things could get very bad again."
#16 A recent IMF report admitted that the current financial crisis could lead to the break up of the eurozone....
#17 George Soros is publicly declaring that the European Union could soon experience a collapse similar to what happened to the Soviet Union.
#18 A member of the European Parliament, Nigel Farage, stated during one recent interview that it is inevitable that some major banks in Europe will collapse.
#19 The IMF is projecting that Japan will have a debt to GDP ratio of 256 percent by next year.
#20 Goldman Sachs is projecting that the S&P 500 will fall by about 11 percent by the end of 2012.
#21 Over the past six months, hundreds of prominent bankers have resigned all over the globe. Is there a reason why so many are suddenly leaving their posts?
#22 The 9 largest U.S. banks have a total of 228.72 trillion dollars of exposure to derivatives. That is approximately 3 times the size of the entire global economy. It is a financial bubble so immense in size that it is nearly impossible to fully comprehend how large it is.[/ex[
Originally posted by Mufcutcakeyumyum
Normally, I try to enter into a thread with a level of balance and diplomacy. In this instance however, I find it difficult, in that many people in positions of influence have foreseen these events coming for some time now, and have served to make the situation worse in many ways.
Originally posted by Germanicus
Then the United States must then hand over the Reserve Currency to the BRICS nations.
Originally posted by OliArtist
I get the distinct feeling that we are now truly on the edge of the chasm. Something has changed in the last few weeks, something fundamental in the attitude of European people. You only have to look at the reactions and comments under recent news articles to realise that something major has happened. A few months ago if people openly called for armed rebellion, violence on the streets, supported extreme right parties etc they would be derided and the subject of abuse. All of a sudden however this has changed. Look at the comments and reactions now and you will see massive support for violence, revolution, actually physically removing politicians and a huge swing towards the extreme right. This was notably demonstrated in France this week, but it is much more widespread.
Originally posted by jtap66
The economy has supposedly been headed for "imminent collapse" every week for the past decade.
It hasn't happened.
Time to change the station. This song is getting old.