posted on Aug, 23 2013 @ 04:20 AM
Possible related event...
Nasdaq halts all trading
started on 8/22/2013 @ 02:34 PM
Take immediate steps to protect your wealth . . . NOW!
That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter
Schiff, Donald Trump, and Robert Wiedemer. According to them, we are on the verge of another recession, and this one will be far worse than what we
experienced during the last financial crisis.
With the unemployment in the US jumping up a full percent last month and Federal Reserve Chairman Ben Bernanke continuing QE it is just about
guaranteed the markets will go into a correction. Last Friday George Soros placed a $1.25 billion bet against the markets which is a flag to setup and
take notice. He has an outstanding track record in predicting the markets.
Marc Faber, the noted Swiss economist and investor, when he was asked what sort of odds he put on a global recession happening, the economist
famous for his ominous predictions quickly answered . . . “100 percent.” Marc Faber, the noted Swiss economist and investor, when he was asked
what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
The general consensuses of both Peter Schiff, the CEO of Euro Pacific Capital and Donald Trump seem to mirror that of Marc Faber...
Schiff remarks that the stock market collapse we experienced in 2008 “wasn't the real crash. The real crash is coming.”... Trump doesn't
hesitate to point out America’s unhealthy dependence on China. “When you're not rich, you have to go out and borrow money. We're borrowing from
the Chinese and others.”
Even though the US is borrowing from the Chinese, China is in worse shape that the US was prior to housing bubble burst in 2008. It was reported
earlier this month that 60% of the domestic container lines in China are now bankrupt. COSCO the largest state funded cargo line has lost a staggering
$739 million and is forced to liquidate much of it's current assets in order to stay afloat.
Considering that China continues to build housing and has now started to build the Macao/Hong Kong over water bridge while cutting exports of cement,
they are seriously cooking the books to increase domestic GDP. The further downside is the property is going unsold. Currently Chinese banks are
raising interest rates in an attempt to cut back on both real estate speculation and cheap ship building. Inflation has already started to raise its
Should the markets go south as predicted, it will literally pull the rug out from under the Chinese collapsing their housing bubble and with the
downturn in exports they are headed for a major recession. This will not bode well for the US or the dollar as a major lender will not have the
ability to lend to the US and there are none that can take up the slack. This type of situation could be enough to force the US into default. The US
would then look like Spain or Greece.
The full article can be found here,
Tried to search the title but the ATS search function is not working, I keep getting the error message that it is not available. So if already posted,
sorry, at least I tried to search the title.
edit on 8/23/2013 by pstrron because: Forgot to cap a letter
edit on 8/23/2013 by pstrron because: (no reason given)