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18 Signs That Massive Economic Problems Are Erupting Everywhere

Tyler Durden's picture




 

Submitted by Michael Snyder via The Economic Collapse blog,

This is no time to be complacent.  Massive economic problems are erupting all over the globe, but most people seem to believe that everything is going to be just fine.  In fact, a whole bunch of recent polls and surveys show that the American people are starting to feel much better about how the U.S. economy is performing.  Unfortunately, the false prosperity that we are currently enjoying is not going to last much longer.  Just look at what is happening in Europe.  The eurozone is now in the midst of the longest recession that it has ever experienced.  Just look at what is happening over in Asia.  Economic growth in India is the lowest that it has been in a decade and the Japanese financial system is beginning to spin wildly out of control.

One of the only places on the entire planet where serious economic problems have not already erupted is in the United States, and that is only because we have "kicked the can down the road" by recklessly printing money and by borrowing money at an unprecedented rate.  Unfortunately, the "sugar high" produced by those foolish measures is starting to wear off.  We are going to experience a massive amount of economic pain along with the rest of the world - it is just a matter of time.

But for the moment, there are a lot of skeptics out there.

For the moment, there are a lot of people that are declaring that the problems of the past have been fixed and that we are heading for incredibly bright economic times ahead.

Unfortunately, those people appear to be purposely ignoring the economic horror that is breaking out all over the globe.

The following are 18 signs that massive economic problems are erupting all over the planet...

#1 The eurozone is now in the midst of its longest recession ever.  Economic activity in the eurozone has declined for six quarters in a row.

#2 Italy's economy has now been contracting for seven quarters in a row.

#3 Industrial production in Italy has fallen for 15 months in a row.  It has now fallen to its lowest level in about 25 years.

#4 The number of people that are considered to be "seriously deprived" in Italy has doubled over the past two years.

#5 Consumer confidence in France has just hit a new all-time low.

#6 The number of unemployed workers seeking a job in France has hit a brand new all-time record high.  Many unemployed workers in France are utterly frustrated at this point...

"I've sent CVs everywhere, I come to the unemployment agency every day, for 3 or 4 hours to look for work as a truck driver and there's never anything," said 42-year old Djamel Sami, who has been unemployed for a year, leaving a job agency in Paris.

#7 Unemployment in the eurozone as a whole has just hit a brand new all-time record high of 12.2 percent.

#8 Youth unemployment continues to soar to unprecedented heights in Europe.  The following is from an article that was recently posted on the website of the Guardian that detailed how bad things are getting in some of the worst countries...

In Greece, 62.5% of young people are out of work, in Spain it's 56.4%, then Portugal with 42.5%, and then Italy with 40.5%.

#9 Youth unemployment is being partially blamed for the worst rioting that Sweden has seen in many years.  The following is how the Daily Mail described the riots...

Sweden is reeling after a third night of rioting in largely run-down immigrant areas of the capital Stockholm.

In the last 48 hours violence has spread to at least ten suburbs with mobs of youths torching hundreds of cars and clashing with police.

It is Sweden's worst disorder in years and has shocked the country and provoked a debate on how Sweden is coping with youth unemployment and an influx of immigrants.

#10 An astounding 10 percent of all banking deposits were pulled out of banks in Cyprus during the month of April alone.

#11 Economic growth in India is the slowest that it has been in an entire decade.

#12 Suddenly Australia is experiencing some tremendous economic challenges.  The following quotes are from a recent Zero Hedge article...

-“We’re seeing a much sharper contraction in the Australian economy than we’d anticipated four or five months ago”. Coffey MD, John Douglas. The engineering group has seen its shares, which traded above $4 in 2007, hit 10c last week.

-“By 10am, the Fitness First gym in the city is packed full of brokers who’ve had a gutful of sitting at their desk doing nothing – salary cuts are starting and next it will be jobs” Perth broker

-“Oh mate, the funding market is dead. You are now seeing a few deeply discounted rights issues for those that are reaching desperate levels ….. liquidity has completely disappeared” Perth broker

#13 The financial system in Japan is beginning to spin wildly out of control.  The Japanese stock market has now declined about 15 percent from the peak, and many believe that the yen will continue to get weaker and that interest rates in Japan will start to rise significantly.

#14 Global cash flow is declining at a rate not seen since the last recession.  This indicates that we could be headed for a global credit crunch.

#15 Real wages continue to decline in the United States.  Even though we are being told that the U.S. is experiencing an "economy recovery", real weekly earnings have declined from $297.79 in 2010 to $295.49 in 2011 to $294.83 in 2012.  (The preceding calculation is based on 1982-1984 dollars)

#16 Wall Street is buzzing about the fact that "the Hindenburg Omen" appeared at the end of last week.  So exactly what is "the Hindenburg Omen"?  The following are the criteria that are used to determine whether it has appeared or not...

1. The daily number of NYSE new 52 Week Highs and the daily number of new 52 Week Lows must both be greater than 2.2 percent of total NYSE issues traded that day.

2. The smaller of these numbers is greater than or equal to 69 (68.772 is 2.2% of 3126). This is not a rule but more like a checksum. This condition is a function of the 2.2% of the total issues.

3. That the NYSE 10 Week moving average is rising.

4. That the McClellan Oscillator ( a market breadth indicator used to evaluate the rate of money entering or leaving the market and interpretively indicate overbought or oversold conditions of the market)is negative on that same day.

5. That new 52 Week Highs cannot be more than twice the new 52 Week Lows (however it is fine for new 52 Week Lows to be more than double new 52 Week Highs).

When the Hindenburg Omen makes an appearance, it supposedly means that the U.S. stock market is likely to experience a serious decline within the next 40 days.

#17 As I wrote about the other day, the SentimenTrader Smart/Dumb Money Index is now the lowest that it has been in more than two years.  That means that lots of "smart money" has been getting out of the market and lots of "dumb money" has been pouring in.

#18 Margin debt on the New York Stock Exchange has set a new all-time high.  The following is from a recent Market Oracle article...

Margin debt—that’s the amount of money borrowed to purchase stocks—on the New York Stock Exchange (NYSE) reached its all-time high in April. Margin debt on the NYSE registered at $384.3 billion as the key stock indices hit new record-highs. (Source: New York Stock Exchange web site, last accessed May 29, 2013.) The highest margin debt ever reached prior to this was in July of 2007, when it stood just above $381.0 billion. At that time, just like today, the key stock indices were near their peaks and “buy now before it’s too late” was the prominent theme of the day

Whenever margin debt spikes like this, a stock market crash almost always follows.  If you doubt this, just check out the chart in this article.

Wall Street has had a good couple of years, but it has been a "false prosperity" that has been pumped up by reckless money printing by the Federal Reserve.  Just like all of the other stock market bubbles that we have seen in recent years, this one is going to burst too.  And as Marc Faber recently pointed out, this bubble has been particularly beneficial to the wealthy...

The Fed has been flooding the system with money. The problem is the money doesn't flow into the system evenly. It doesn't increase economic activity and asset prices in concert.

 

Instead, it creates dangerous excesses in countries and asset classes. Money-printing fueled the colossal stock-market bubble of 1999-2000, when the Nasdaq more than doubled, becoming disconnected from economic reality. It fueled the housing bubble, which burst in 2008, and the commodities bubble. Now money is flowing into the high-end asset market - things like stocks, bonds, art, wine, jewelry, and luxury real estate.

 

Money-printing boosts the economy of the people closest to the money flow. But it doesn't help the worker in Detroit, or the vast majority of the middle class. It leads to a widening wealth gap. The majority loses, and the minority wins.

The fact that the U.S. stock market has set new all-time record high after new all-time record high in recent months means very little.  At this point, the stock market has become completely divorced from economic reality.  When this current bubble bursts, the adjustment is going to be very painful.  Wall Street will likely whine and complain and ask for more bailouts, but they may find that authorities are not nearly as sympathetic this time.

Much of the rest of the world is already experiencing the next major wave of the economic collapse.  Reckless money printing by the Fed and reckless borrowing and spending by the federal government may have delayed the inevitable in the United States for a little while, but those measures have also made our long-term problems even worse.

There was one piece of advice that Ben Bernanke included in his commencement speech to students at Princeton recently that I thought was particularly ironic...

"Don't be afraid to let the drama play out."

Will he take his own advice when the next great financial crisis strikes the United States?

That seems very unlikely.

Unfortunately, things are not going to be so easy to fix this next time.

What happened back in 2008 was just a preview.

What is coming next is going to absolutely shock the world.

 

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Mon, 06/03/2013 - 17:11 | 3621463 Son of Loki
Son of Loki's picture

Decisions, decisions....Life is so full of them!

 

I am not sure whether to cash in on that $30,000,000 Nigerian Bank transfer the son of a Nigerian nobleman's son want to get out of the country  (as long as i pay the transfer tax and fees of $3,000) or simply settle for becoming a millionaire Flipping houses from my home in my PJs...or get an online degree in Multi-Cultural Aromatherpay with a "Free" $82,000 student loan.

 

Decisions, decisions....Life is so full of them!

 

 

Mon, 06/03/2013 - 23:39 | 3622592 Never One Roach
Never One Roach's picture

Excellent!

Mon, 06/03/2013 - 17:17 | 3621486 Quantum Nucleonics
Quantum Nucleonics's picture

Yawn... Allow me to smash your 18 signs...

1 - 10:  Europe is fixed.  Stop fretting!  A system is in place for sustained recovery, we just need to see it through.  How very un-Euro of you to suggest otherwise.

11: Inda?  Who gives a f$ck about India.  I can always move tech support to some other third world outpost.

12: It's supply, not demand.  Come on!

13: Just profit taking.  Abe's plans are working as designed.

14: Say it with me, "Global coordinated monetary policy."

15: Wages??  Stock market at all time high and going to the moon, why would anyone need wages?  That's so 20th century.

16 - 18: Eh, who cares.  I have a boatload of long dated at the money Bernanke puts.  You can see them right there in my E-trade statement below Apple and Netflix, and Amazon.

 

Mon, 06/03/2013 - 18:00 | 3621501 SILVERGEDDON
SILVERGEDDON's picture

17. Your IPO investments in Segway, Trump Atlanta, and Ginsu steak knives. 

18. There is no third prize. You're FIRED ! Genius investor for hire.

Mon, 06/03/2013 - 18:03 | 3621647 ebworthen
ebworthen's picture

+1 for the wry sarcasm; so wry some batters swung.

Mon, 06/03/2013 - 17:23 | 3621488 SqueekyFromm
SqueekyFromm's picture

Well, since this is an "18+" thread, Number 19 is worse than all the above because it will adversely affect women everywhere. The whole dang sex industry is at risk!!! I refer, of course, to the Mike Douglas Health Alert, about which I wrote this Irish Poem:

Soy Sauce Nerf???

Mike Douglas got cancer from eating
Miss Jones as she lay there entreating.
He just couldn't squelch
His hunger for Welsh
Rarebit, ala mort petite-ing.

 

Squeeky Fromm, Girl Reporter

Bonus: http://www.youtube.com/watch?v=QKqw7VK9CYE

Mon, 06/03/2013 - 17:41 | 3621569 ebworthen
ebworthen's picture

And does our U.S. "healthcare" industry want to give young men the HPV vaccine?

Of course not!

Mon, 06/03/2013 - 20:00 | 3621963 Clycntct
Clycntct's picture

 Nice ear medicine.

Mon, 06/03/2013 - 20:11 | 3621987 SqueekyFromm
SqueekyFromm's picture

Clycntct:

Thank you!!! I wonder how many people saw that musical, and never realized that "Le Petite Mort", a Little Death, is another term for an orgasm.  The song is just sooo much more fun when you "get it."

Squeeky Fromm, Girl Reporter

Tue, 06/04/2013 - 00:35 | 3622673 chindit13
chindit13's picture

I don't know if that's "tasteful", but it is rather clever, especially your use of "le petit mort".  It is also, I suppose, a public service message.

Tue, 06/04/2013 - 04:08 | 3622810 SqueekyFromm
SqueekyFromm's picture

Chindit:

Thank you! Plus, I really liked your comments the other night on the gold thread. You are wise.

Squeeky Fromm, Girl Reporter

Tue, 06/04/2013 - 10:04 | 3623324 shovelhead
shovelhead's picture

Very droll squeeky.

Can you imagine that dinner conversation between MD and KZJ?

"You told them that eating WHAT gave you cancer ????"

Gotta be a grim household there.

Mon, 06/03/2013 - 17:22 | 3621505 vote_libertaria...
vote_libertarian_party's picture

uhhhh...is this going to interupt my Kim Kardashian updates?

Mon, 06/03/2013 - 18:01 | 3621510 SILVERGEDDON
SILVERGEDDON's picture

Sex industry is fine. Five dollar blowjobs in the Eurozone. Happy European Vacation, Clark Griswolds of the world.......

Swueaky Fromm, girl reporter's euro protein vacation payment / diet plan ! 

Mon, 06/03/2013 - 17:25 | 3621515 oklaboy
oklaboy's picture

I  picked one helluva time to quit sniffin glue..........

Mon, 06/03/2013 - 17:25 | 3621516 oklaboy
oklaboy's picture

I  picked one helluva time to quit sniffin glue..........

Mon, 06/03/2013 - 17:29 | 3621529 sunny
sunny's picture

Sounds absolutely awful.  Must be why the markets rallied today.

sunny

Mon, 06/03/2013 - 18:03 | 3621650 ILLILLILLI
ILLILLILLI's picture

A new shipment of Hopium® arrived...

Mon, 06/03/2013 - 19:10 | 3621837 Blano
Blano's picture

Everybody's front running Tuesday.

Mon, 06/03/2013 - 17:38 | 3621560 ebworthen
ebworthen's picture

Margin debt being so high and bond rates spiking are the real red flags to me.

Not to take away from the other indicators, but...

Mon, 06/03/2013 - 17:48 | 3621589 10mm
10mm's picture

My co workers know where i stand on this falseponzi,but they keep making the comment things are better and then it's complete quiet.Like my cat early moorning knocking shit off my night stand and looking over to see if i move.

Mon, 06/03/2013 - 17:59 | 3621633 Rainman
Rainman's picture

Excellent report. The indoctrination, it is working !

Mon, 06/03/2013 - 18:02 | 3621641 Accounting101
Accounting101's picture

Cats are the best. Certainly smarter than us humans.

Mon, 06/03/2013 - 21:43 | 3622277 DirkDiggler11
DirkDiggler11's picture

Yea, cats are better, they taste like chicken.... Just ask my neighbor ...

Mon, 06/03/2013 - 17:55 | 3621618 Peter Pan
Peter Pan's picture

People in some places are increasingly smelling the blood of bankers and politicians but until they actually taste it, nothing will really happen.

Still early days.

Tue, 06/04/2013 - 01:25 | 3622722 tsx500
tsx500's picture

"still early days."  .......  you been payin' attention to Turkey lately ?    might be some tastin' goin' on pretty soon

Mon, 06/03/2013 - 18:01 | 3621637 knicks3005
knicks3005's picture

#19. Eating pussy gives you Cancer. 

Mon, 06/03/2013 - 18:03 | 3621644 SILVERGEDDON
SILVERGEDDON's picture

Eating beaver, however, gives you a joy ride.

Mon, 06/03/2013 - 18:12 | 3621689 Rainman
Rainman's picture

Nasty habit...will be outlawed in NYC soon

Mon, 06/03/2013 - 20:05 | 3621976 SqueekyFromm
SqueekyFromm's picture

Beaver??? You know he also said that the practice could cure cancer. OH, that makes me think of another Irish Poem!

Leave It To Beaver???

Mike Douglas loved munching on beaver!

In its curative powers a believer!

When eaten au jus,

It could cure Asian Flu,

Alzheimers, St. Vitus, and fever!

 

Squeeky Fromm, Girl Reporter

Tue, 06/04/2013 - 01:44 | 3622739 Clowns on Acid
Clowns on Acid's picture

Good girl... Squeek.

Tue, 06/04/2013 - 03:07 | 3622780 Kirk2NCC1701
Kirk2NCC1701's picture

Scotty, two to beam up.

Mon, 06/03/2013 - 22:33 | 3622439 10mm
10mm's picture

Only bad pussy.

Mon, 06/03/2013 - 18:14 | 3621699 Kirk2NCC1701
Kirk2NCC1701's picture

Remember the w/e article on ZH on millionaires? Yeah, well since this is a real growth industry in the US, with no additional taxes on the books, we can expect all these rich, enterprising 'job creators' (that's what Fox called them during the 2012 election) to create all sorts of good-paying new jobs.

Right? ;-)

Mon, 06/03/2013 - 18:18 | 3621714 Rainman
Rainman's picture

Job creation is Fed bizness....chairsatan said so.

Tue, 06/04/2013 - 03:13 | 3622784 Kirk2NCC1701
Kirk2NCC1701's picture

Ouch, looks like the comprehension of irony or sarcasm is in short supply here also. In a 1:3 ratio, by the looks of it.

Either that, or I've pissed off 3 millionaires from Fox. ;-)

Mon, 06/03/2013 - 18:26 | 3621732 vamoose1
vamoose1's picture

   fucking  vomit   country    once  there  was  the   marshall  plan   in  46    the   greateast   most   magnanimous   country  in  the  world.

   now  this.   wtf

     hated  by   more   humans   by  far than  any   country  since  us  killer  apes   dropped   out  of  the   banana  trees   and  went  hunting ....  750  bases  in  150   countries  well   done  you  fucking   crawling   animals   thats  quite  an  achievement     in  60   short  years   when  the   carriers  get  parked  and a displeased  islam  arrives   in   ny   harbour      3   billion  of  them   put  a   bag  over  your  heads   and  inhale   its  simpler    kindly   explain     afghanistan......   ciao    you   supperating  cunts   hi  Mohammed!!!!!!

Mon, 06/03/2013 - 18:35 | 3621755 Cycling Fish
Cycling Fish's picture

The sign? People write endless list articles with headlines like:

"Four ways to protect your wealth in the Apocalypse"

"Ten signs that stocks are overvalued."

"Fifteen telltales that the end is near"

and of course: "

18 Signs That Massive Economic Problems Are Erupting Everywhere

 

Mon, 06/03/2013 - 18:50 | 3621781 yogibear
yogibear's picture

Hackers need to get in the Federal Reserve and change some numbers. The Chinese are usually good at it.

Mon, 06/03/2013 - 18:51 | 3621787 FreeNewEnergy
FreeNewEnergy's picture

Meh. Why   do    you    have mul  tip  le    spaces    between        your. words:)&$?

Yankee game starts soon. Need more beer and        another      bowl      of      ....

 

...

 

 

...

Tue, 06/04/2013 - 10:10 | 3623348 shovelhead
shovelhead's picture

What else...

NY Sour Diesel.

Mon, 06/03/2013 - 18:53 | 3621793 mjk0259
mjk0259's picture

1. The standard of living in the Eurozone is still higher than almost ever and with more freedom and less wars.

2. Italy is richer than it has ever been.

4. Today's definition of "seriously deprived" in Italy would have encompassed almost everyone 80 years ago.

10. Cyprus is doing banking for Russian mafia, not a case you can draw general conclusions from.

11. Per capita income in India is higher than ever. They even have cars now. Couldn't get bicycle 80 years ago.

12. Australia continues to have one of the highest standard of living and quality of life on Earth ever.

13. Japan has never been richer.

15. True. Gotta give you that one and we all know why, jobs sent to China, etc to benefit stock owning class.

16-18 Who cares? Everyone knows the stock market is rigged and reflects neither the standard of living or the economy for most people and hardly anyone has a significant amount of money in it either directly or now that pensions are mostly gone, indirectly.

 

 

Mon, 06/03/2013 - 18:56 | 3621802 FreeNewEnergy
FreeNewEnergy's picture

Five signs that you're fucked:

1. You are American, or Armenian, or French or Spanish or Greek or... oh well, you're human.

2. You have a job. Today.

3. You wonder if you're gay (not that there's anything wrong with that, a la Seinfeld)

4. Your wife sucks other guys' dicks.

5. You enjoy watching.

Mon, 06/03/2013 - 19:02 | 3621818 Hannibal
Hannibal's picture

Americans have no ballls to protest anything. Fucking cowards!

Tue, 06/04/2013 - 03:27 | 3622789 Kirk2NCC1701
Kirk2NCC1701's picture

Oh yeah? Well, we're blogging -- I mean "educating the public" -- before we start marching.

Damn Geek Squad, when am I getting my hacked PC back? I'm tired of blogging from my cell phone!

See, we're Activists.

ps. I did not down-tick you, Hannibal.

Tue, 06/04/2013 - 07:24 | 3622924 goldenbuddha454
goldenbuddha454's picture

We're a few years from massive protests on the mall.  It will take massive runs on food and staples before you see Americans getting pissed.  Why do you think the govt. is buying every round they can get their hand on?  They know that when they can't provide welfare checks and EBT cards to the "poor" the SHTF and Fast!  Right now, the 'sit-on-your-ass-and-do-nothing' checks are still being sent out every month.  When that stops, you'll see mahem.

Mon, 06/03/2013 - 19:12 | 3621839 dobermangang
dobermangang's picture

"My advice for graduating seniors: 1. Do what you love. 2. Learn to love bagging groceries."  - Iowahawk

Mon, 06/03/2013 - 19:27 | 3621879 TalkToLind
TalkToLind's picture

That's assuming there will be food left to bag.  And remember, if you eat that Montanso shit, you will grow a third arm and a goiter.

Mon, 06/03/2013 - 20:28 | 3622034 tradewithdave
tradewithdave's picture

To: Princeton

Don't give 'em heck... give 'em paper or plastic.

Mon, 06/03/2013 - 19:18 | 3621848 thisandthat
thisandthat's picture

 

"I've sent CVs everywhere, I come to the unemployment agency every day, for 3 or 4 hours to look for work as a truck driver and there's never anything," said 42-year old Djamel Sami, who has been unemployed for a year, leaving a job agency in Paris.

Hard to explain if you compare that to the whooping 1017 vacancies for truck drivers in France alone, available here: https://ec.europa.eu/eures/main.jsp?acro=job&lang=en&catId=482&parentCat... ...until you realize Djamel is an arab name. Arabs are France's blacks of the 60s; unlawful as it is, it's practically impossible for an arab to get any job in France (and the middle aged and up; so when you add the two...), even before this crisis (hence riots in the suburbs), and has been exposed in news reports, with the help of hidden cameras, even.

Mon, 06/03/2013 - 21:10 | 3622149 Winston of Oceania
Winston of Oceania's picture

What do you get when you colonise the ME? Jobless chickens that come home to roost.

Tue, 06/04/2013 - 10:15 | 3623370 shovelhead
shovelhead's picture

This just proves that he's rather dim.

Change his name to Pepe LePew.

Mon, 06/03/2013 - 19:18 | 3621849 vamoose1
vamoose1's picture

bernanke is  obviously   gone  post  that  princeton  speech  which   gulp  i   found  good ... think  june  30.

 

   one  point  two   trillion  dollar  annual   deficits   out  to  the   horizon how   grand      maybe  we  get  that  thief   geithner   or   gruppenfuhrer    paulson   with   his   demonic  crooked  finger

 

    phew   for  a  minute  i  was  edgy

Mon, 06/03/2013 - 19:18 | 3621851 vamoose1
vamoose1's picture

bernanke is  obviously   gone  post  that  princeton  speech  which   gulp  i   found  good ... think  june  30.

 

   one  point  two   trillion  dollar  annual   deficits   out  to  the   horizon how   grand      maybe  we  get  that  thief   geithner   or   gruppenfuhrer    paulson   with   his   demonic  crooked  finger

 

    phew   for  a  minute  i  was  edgy

Mon, 06/03/2013 - 19:20 | 3621856 vamoose1
vamoose1's picture

bernanke is  obviously   gone  post  that  princeton  speech  which   gulp  i   found  good ... think  june  30.

 

   one  point  two   trillion  dollar  annual   deficits   out  to  the   horizon how   grand      maybe  we  get  that  thief   geithner   or   gruppenfuhrer    paulson   with   his   demonic  crooked  finger

 

    phew   for  a  minute  i  was  edgy

Tue, 06/04/2013 - 00:42 | 3622683 chindit13
chindit13's picture

Are you Katherine Hepburn?

Mon, 06/03/2013 - 19:21 | 3621857 TalkToLind
TalkToLind's picture

MillionDollarBreastisis...on that banner ad chick, but I digress.

Mon, 06/03/2013 - 19:22 | 3621862 lakecity55
lakecity55's picture

Anybody look at Au today???

Mon, 06/03/2013 - 19:29 | 3621883 WTFUD
WTFUD's picture

A room is not a room without a chair.

Mon, 06/03/2013 - 19:30 | 3621889 rsnoble
rsnoble's picture

Well if it's too shocking im checking out of this fuckhole.

Mon, 06/03/2013 - 19:36 | 3621899 medium giraffe
medium giraffe's picture

"Unfortunately, things are not going to be so easy to fix this next time."

 

Things never really got fixed.  We just filled up on credit swaps, derivative exposure, national debt and kept ploughing on.  The insanity!

Yes, 2008 certainly was the preface, the story has become more and more bizarre since, and now, in the words of the Red Hot Chillies 'this chapter's going be a close one'.

Feels a lot like a Hunter S Thompson novel.

 

...two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, and a whole galaxy of multi-colored uppers, downers, screamers, laughers and also a quart of tequila, a quart of rum, a case of Ballantine ale, a pint of raw ether and two dozen amyls.

Mon, 06/03/2013 - 22:55 | 3622491 Cobra
Cobra's picture

Mescaline? What's that some kind of 70's drug?

Tue, 06/04/2013 - 00:50 | 3622692 Vooter
Vooter's picture

Dots for tots...

Mon, 06/03/2013 - 19:49 | 3621943 Nehweh Gahnin
Nehweh Gahnin's picture

"Wall Street will likely whine and complain and ask for more bailouts, but they may find that authorities are not nearly as sympathetic this time."

They better not.  Last time the public screamed at their televisions and representatives.  This time, they will be tossing molotov cocktails.

Mon, 06/03/2013 - 20:08 | 3621985 chump666
chump666's picture

Krugman you academic loon.  Stimulus! Stimulus! New York is alright if you like saxophones!  Bubble! bubble! baby...

http://www.bloomberg.com/news/2013-02-07/chelsea-gallery-sells-building-...

FMD...

Mon, 06/03/2013 - 22:47 | 3622467 jomama
jomama's picture

who the fuck reads krugman...

Tue, 06/04/2013 - 01:55 | 3622745 chump666
chump666's picture

Krugman does.

Mon, 06/03/2013 - 20:22 | 3622018 TahoeBilly2012
TahoeBilly2012's picture

"Life, Liberty and the pursuit of Zionism..."

Mon, 06/03/2013 - 22:31 | 3622072 Manipuflation
Manipuflation's picture

Here is one example economic stupidity erupting around my household.  These hair pastels are apparently important to 8 year old girls it seems and Mrs. M is supporting it.  I don't know about this.  No wait, I do know about this because this is fucking stupid.  What's next?  Cheap perfume, glitter and a stripper pole?  I am going to go shut this bullshit down before full retard is achieved.  I need my daughter to learn math and languages and not worry about dying her hair.

I finished my post about the bears on Boating if interested.  There could be a potentially gruesome part two. 

 

Here is this retarded hair dye shit.

 

http://www.buyincoins.com/new_en/details/24-colors-fashion-hot-fast-non-toxic-temporary-pastel-hair-dye-color-chalk-02-product-22877.html

 

Update:  I HATE losing as much as anyone but...  At any rate, this level of full retard had better be achieved with Russian U.S. $ and not my U.S. U.S. dollars.  Even better, why not have the Russians send their Russian U.S. $ directly to China so the Chinese can add to their collection of Chinese U.S $.  It would be a lot more efficient that way and AnAnonymous can direct ship the likely carcinogenic toxic dye directly to my address so I can throw it in the dumpster upon arrival.  I am starting to get pissed off and just might go purchase some silver dimes in retaliation here folks.

Tue, 06/04/2013 - 00:07 | 3622642 Arthur
Arthur's picture

I love the disclaimer.

"This Hair Chalk is not professional hair products, just the color chalk for paint, so don't use too often."

But seriously.... the crap is washable, let the eight year old be a kid, it is summer time.

Tue, 06/04/2013 - 00:39 | 3622680 Manipuflation
Manipuflation's picture

Alright Arthur.  I do not seem to have a choice anyway.  Perhaps I should lighten up a bit but at the same time there is a line that needs to be drawn and not on the walls around here because I HATE painting.  You can bet the two year old will get ahold of this chalk and decorate the walls around here.  Do you have children?  After a while, you start to look at them suspiciously and lovingly at the same time. 

Tue, 06/04/2013 - 04:03 | 3622804 Awakened Sheeple
Awakened Sheeple's picture

Eventually, your children will have to make decisions for themselves. For now just love and teach them and plant seeds of truth that will come to fruition many years from now.

I wouldn't be a ZHer if not for my father talking about libertarian ideals and my grandfather telling me about the gold standard.

Mon, 06/03/2013 - 21:01 | 3622119 Money 4 Nothing
Money 4 Nothing's picture

Take a look at this..

http://www.veteranstoday.com/2013/06/03/1st-super-governmental-world-war...

Then a latest discovery.. Obama turned the Iraq oil feilds over to China after losing over 4, 500 troop to secure the Country. Just appalling and a disgrace to America.

 

Mon, 06/03/2013 - 21:05 | 3622130 q99x2
q99x2's picture

104 more days of super FRAUD Tuesday prosperity according to:

'Dr. Boom'? Roubini Sees Two Years of Stock Gains

Mon, 06/03/2013 - 21:05 | 3622134 slimething
slimething's picture

18 new signs? How many are there?

Mon, 06/03/2013 - 21:38 | 3622259 robertocarlos
robertocarlos's picture

We had our Pride parade yesterday, GLBVT whatever, and the most beautiful young woman was marching sans top, They were spectacular. Iwant to live.

Mon, 06/03/2013 - 22:12 | 3622382 GeneralMunger
GeneralMunger's picture

Here's my favorite:

#4 - "The number of people that are considered to be "seriously deprived" in Italy has doubled over the past two years."

I think the term 'seriously deprived' is about to be seriously redefined.  I'm willing to bet that in most of Europe 'seriously deprived' means you don't have Internet access, a smartphone, and a metro pass.

My dad has told me stories from the 1930s where his mother picked daisies out of a field and boiled them so the family would have something green to go with the mystery meat they had for dinner.

Funny thing is my dad (and mom) didn't know they were seriously deprived....nobody told them - there actually were people worse off in the Great Depression.

"Seriously deprived" is about to be redefined to it's old definition of 'not having a pot to piss in or a window to throw it out of'....and hungry too:(

Mon, 06/03/2013 - 22:40 | 3622447 jomama
jomama's picture

dandelion salad is amazing.

 

mystery meat in the 20s is nothing like the toxic shit today.

Tue, 06/04/2013 - 04:07 | 3622808 Awakened Sheeple
Awakened Sheeple's picture

The wifey canned some dandelion jam a few weeks ago - Not my cup of tea. It was a fine way to spend a Sunday with the fam picking them.

Tue, 06/04/2013 - 04:14 | 3622816 AgentScruffy
AgentScruffy's picture

My dad (who was considerably older than my mom) would tell stories about how during the depression his family moved into a garage. Later they lived in a tent. Having an orange was considered a  big treat.

Mon, 06/03/2013 - 22:23 | 3622416 Money 4 Nothing
Money 4 Nothing's picture

Here is another gem..Boy and the hits just keep coming. .

http://theeconomiccollapseblog.com/

Mon, 06/03/2013 - 23:05 | 3622520 Manipuflation
Manipuflation's picture

Cool blog.  I wonder why no Disqus comment section?

Mon, 06/03/2013 - 22:25 | 3622423 fuckitall
fuckitall's picture

Only real problem is declining quality of collateral (despite bogus "AAA" ratings) pledged for "loans" and "bailouts" from central banks, and collateral quality is declining faster these days, raising the possibility of collateral calls, but there ain't no more "good stuff" to pledge, and banks don't dare wana buy the crap back.

So central banks lower their "standards", becoming "bad banks of last resort" where all the trash gets dumped by banks walking away with fresh spendable cash. 

Securites laundering?  Yes.   Illagal?  Used to be, but quite legal today.

So there really isn't a problem after all, ponzi goes on.

Well, unless you think currency debasement is a problem, and very few do.

Mon, 06/03/2013 - 22:45 | 3622460 Manipuflation
Manipuflation's picture

They will, and already are, stealing anything with a title or digital signature.  I am trying to get out and am almost there.  Then they can confiscate my slowly rusting 2001 Hyundai Accent.  At the rate we are going, the Accent would probably be repurposed as a police cruiser complete with a Kojack style single light.  Hey, you know what?  That is a great idea if you think about it.  Do the coppers really need huge SUV ands full size hotrod cars?  

Mon, 06/03/2013 - 22:39 | 3622445 Muscletonian
Muscletonian's picture

Please Tyler,

Can you alert the world that the IRS is apparently pestering other people than the Tea Party. I just got of the phone with my US operator since two months (visiting with family, 3 kids the youngest is 11 months). Since Thursday night I am not able to make international calls due to technical issues and I have been promised callbacks from tech/supervisors every day. Tonight when it still had not happened I got a bit upset, the woman (sneaky false bitch) on the other side then said something was fraudulent. I on the other hand said I'm not a kingpin drugdealer just a bit finance dealing but I do have to handle Europe while Im here.

This creature then tells me IRS is involved, I then again explain I am here visiting with spouse, 3 kids younger than 3,5 and I don't see how I can be a TARGET. I ask for a supervisor who just kept the same mantra re investigating tech issues.

If the IRS is now also following foreigners buying simcards without having any business in the US, just visiting for two months due to maternity leave, I think this is beyond control. 1984 is so outdated.....

The operateror is Ultra.me

Again never use them if you are a foreigner visiting the US, or rather I must say the need of visiting the US has dramatically deteriorated.

Tyler make something out of this, its way beyond return if this is true.

Best rgds

 

Mon, 06/03/2013 - 23:15 | 3622545 Manipuflation
Manipuflation's picture

I am going to plus you for that post because I understand exactly what you are saying.  I am not sure that any Tyler will push the issue but I would consider.  Sounds to me like you have a story and I would be interested to hear it if you want to write one.  If you do not want to write one I can also appreciate that fact as well.  It would be awfully hard for a Tyler or anyone else to expound upon your post.  You have to write the article my friend.

Tue, 06/04/2013 - 01:40 | 3622736 Clowns on Acid
Clowns on Acid's picture

Dude, its all over the place. been that way for 4+ years....

Mon, 06/03/2013 - 22:53 | 3622486 Muscletonian
Muscletonian's picture

Please Tyler,

Can you alert the world that the IRS is apparently pestering other people than the Tea Party. I just got of the phone with my US operator since two months (visiting with family, 3 kids the youngest is 11 months). Since Thursday night I am not able to make international calls due to technical issues and I have been promised callbacks from tech/supervisors every day. Tonight when it still had not happened I got a bit upset, the woman (sneaky false bitch) on the other side then said something was fraudulent. I on the other hand said I'm not a kingpin drugdealer just a bit finance dealing but I do have to handle Europe while Im here.

This creature then tells me IRS is involved, I then again explain I am here visiting with spouse, 3 kids younger than 3,5 and I don't see how I can be a TARGET. I ask for a supervisor who just kept the same mantra re investigating tech issues.

If the IRS is now also following foreigners buying simcards without having any business in the US, just visiting for two months due to maternity leave, I think this is beyond control. 1984 is so outdated.....

The operateror is Ultra.me

Again never use them if you are a foreigner visiting the US, or rather I must say the need of visiting the US has dramatically deteriorated.

Tyler make something out of this, its way beyond return if this is true.

Best rgds

 

Tue, 06/04/2013 - 00:16 | 3622657 Handful of Dust
Handful of Dust's picture
New York City Gun Violence: 25 Shot In 48 Hours, Six Dead

 

A bloody weekend of gun violence in New York City has left six people dead. In just 48 hours, 25 people across four boroughs were shot, CBS reports.

 

http://www.huffingtonpost.com/2013/06/03/new-york-city-gun-violence-25-s...

 

Da Big Apple competing wit Chicago.

 

 

Tue, 06/04/2013 - 00:47 | 3622689 Manipuflation
Manipuflation's picture

Interesting comments on that thread. +1

Tue, 06/04/2013 - 00:48 | 3622690 celticgold
celticgold's picture

outSTANDING!

Tue, 06/04/2013 - 03:45 | 3622795 AnAnonymous
AnAnonymous's picture

One of the only places on the entire planet where serious economic problems have not already erupted is in the United States, and that is only because we have "kicked the can down the road" by recklessly printing money and by borrowing money at an unprecedented rate.
_______________________________________

No. It is an 'american' world and a US world order. The world is organized so that the US is the ultimate consumption sink. The rest of the world will be drained to maintain that status.

The relative welfare of the US is strengthened as the rest of the world is plunging.The poor man's losses are the rich man's gains.
'Americans' have put the world on the path of depletion of resources, it is going to be a painful way down but in the US, the effects will be mitigated by forcing others to endure more than their share.

At this point, servants to the 'american' middle class (aka WeThePeople) have figured out no other way to serve their master but to sacrifice part of the 'american' middle class to ensure the other part enjoy a middle class life.

'American' middle class is to be found in 'american' nations first.

Anytime a middle classer in Europe loses one's job, it makes room for a middle class in the US to be secured in its status.

Tue, 06/04/2013 - 04:25 | 3622820 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, singing the only song he knows. said:

Anytime a middle classer in Europe loses one's job, it makes room for a middle class in the US to be secured in its status.

...according to shallow propaganda by uninspired propagandists.

This guy would make good subject for Troma film. Call it The Obnoxic Avenger.

Tue, 06/04/2013 - 04:42 | 3622832 Colonel
Colonel's picture

Wait till akak hears about this.

Tue, 06/04/2013 - 03:47 | 3622796 All Out Of Bubblegum
All Out Of Bubblegum's picture

"Wall Street will likely whine and complain and ask for more bailouts, but they may find that authorities are not nearly as sympathetic this time."

 

JP Morgan will be the last man standing. They issue half of the EBT cards (food stamps) in the US.

It's simple extortion: keep us afloat or your unfed mobs will riot and burn LA, Chicago, NYC, etc.

I thank the Lord I don't live in a city.

Tue, 06/04/2013 - 03:49 | 3622798 AnAnonymous
AnAnonymous's picture

With arguments like deepest recession in Eurozone ever placed as number one, this article is the 'american' mark of cheap propaganda fantasy.

Eurozone is how old? Less than fifteen. It ensures that the first recession to strike that zone will be the deepest recession ever experienced.

But, hey, this is an 'american' world so this is the kind of stuff you must be drowned with.

Tue, 06/04/2013 - 04:33 | 3622828 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

But, hey, this is an 'american' world so this is the kind of stuff you must be drowned with.

Funny as a sea elephant. This guy loves to swim into this non sense 7 of 7, 365 of 365, 24 of 24, so no drowning here.

Tue, 06/04/2013 - 03:54 | 3622800 smacker
smacker's picture

OT:

 

According to the Guardian today, gold moving down to $1,000:  http://www.guardian.co.uk/business/economics-blog/2013/jun/03/gold-bubbl...

 

Tue, 06/04/2013 - 04:08 | 3622809 double 007
double 007's picture

been cryin wolf for 4 fuckin years stock market at ALL TIME HIGHS fuk u zero hedge

 

Tue, 06/04/2013 - 05:37 | 3622858 Disenchanted
Disenchanted's picture

But see there's this Index of 30 'industrial' stocks called the Dow Jonesin and it tells me that the entire country has risen from the dead and is viewing a new sunrise...the birds are singing, and there's pink teddy bears, cotton candy clouds and unicorn Shittles for everyone.

 

Woohoo!

Tue, 06/04/2013 - 05:42 | 3622860 andrewp111
andrewp111's picture

The first 10 are all Europe. Yip yip, we all know  Europe is a basket case and has been so for 4 years, and if anything is getting worse and worse. Eventually, the EU political system will break, with unpredictable results. The last 3 are short term US market indicators. We are overdue for some kind of short term correction. We all know that too. #11-#15 are worth noting, and might be serious indicators of a big slump over the horizon.

Tue, 06/04/2013 - 06:29 | 3622875 Judge Crater
Judge Crater's picture

As the world spirals into the financial abyss, you have a story out today about Zynga laying off 520 employees, Somehow, selling computer games for social media is not very profitable.  How could Zynga get $180 million to buy OMGPOP?  The United States is now an ecomic Neverland run by fraudsters.  I was speaking to someone who just retired from the Post Office.  He said that new hires are put on part time schedules so they get no pension benefits.  An article in "The Verge" includes tweets from Zynga employees in New York City who found out they were jobless via Facebook.  Zynga is now putting its bets on hooking up with a British company that wants to open a Las Vegas casino that will use Zynga gaming software.

The only rule that applies now in the good old USA iis the Law Of The Jungle.      

---

The Verge (June 3, 2013) One year ago, Zynga paid $180 million for OMGPOP, the creator of the wildly popular game Draw Something for iOS and Android. Zynga seems to have decided that was a $180 million mistake. After directly writing off up to $95 million of OMGPOP last October, it now appears that Zynga is completely shutting down the studio — among other divisions — in an attempt to save $80 million more.

As we reported earlier this afternoon, Zynga is laying off 520 employees, a full 18 percent of its global workforce, and reportedly shutting down offices in Los Angeles, Dallas, and New York. What we didn't realize is that OMGPOP is Zynga New York.

Tue, 06/04/2013 - 07:13 | 3622914 goldenbuddha454
goldenbuddha454's picture

I watched that Hardcore Pawn show from Detroit last night and its scary to see the people going into that shop.  They're in their selling their family heirlooms, family jewelry, Baseball card collections from the 40's and 50's, Wive's and Husband's wedding bands all for the sake of eaking out another month on their home mortgage loan.  Wow, what a recovery! 

Tue, 06/04/2013 - 10:40 | 3623446 shovelhead
shovelhead's picture

When you see sets of 4 21" spinner mag rims going in the door, you'll know the end is near.

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