Current Economic Collapse News Brief: US Jobless, Economic Confidence, The End Of Cheap US Cash, Currency Intervention Scheme, Military Intervention In Syria
“Four out of Five US Adults Struggle with Joblessness, Near-Poverty or Reliance on Welfare For at Least Parts of Their Lives,” (Associated Press, July 28, 2013). That’s Most of Us. Almost All of Us. Probably You.
It appears that things must get worse before they get better. The United States has become especially absurd with its intensifying mess of debt and flailing leadership. If a major event in the Persian Gulf or China can trigger the toppling of the US House of Cards, increased consumer vulnerability must be the order of the day. It is surprising to some that total collapse has not yet happened, but news such as record new car sales in July suggests the entire system can keep on going indefinitely. Such news supplies happy-talk for the embattled corporate agenda.
A more disturbing and shocking statistic than car sales going in the wrong direction for Mother Earth:
“Four out of five US adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.” (Associated Press, July 28, 2013)
The End Of Cheap US Cash Claims Another Victim
In a fashion similar to what became known as the “Asian Contagion” in the late 90s, the current stress in emerging economies has been spreading.
One of the nations to experience financial stress recently has been Indonesia, Southeast Asia’s largest economy.
The impact of capital outflows from emerging economies on Indonesia’s financial markets has been swift and severe.
Read more: http://soberlook.com/2013/08/the-end-of-cheap-us-cash-claims-another.html#ixzz2d0oPauob
Gallup Has Posted Some Abysmal Economic Data Recently
People don’t tend to put a whole lot of stock in it, so far as we’ve seen, but polling company Gallup regularly publishes an array of economic data relating to employment, spending, and confidence.
And lately it’s been horrendous.
Economic confidence has recently fallen to a reading of -15 from -8.
Unemployment has surged to 8.8%, and is nearly a whole point higher than it was a few weeks ago.
And Consumer Spending the last few days has been abysmal.
Why The Post-Lehman Reflation Is Reaching Its Limits
Brazil Plans $60 Billion Currency Intervention Scheme; Indonesia Abandons Intervention, Adopts Other Measures
The Financial Times reports Brazil, Indonesia launch measures to shore up their currencies.
John Mauldin: France is heading for the biggest economic train wreck in Europe!
Margin debt at risky levels…S&P 500 fell 50% last two times it was here!
CLICK ON CHART TO ENLARGE
Interview With Gregory Mannarino On The Fall/Winter Collapse
X22 Report interviews Gregory Mannarino on the collapse coming this fall/early winter.
X22 Report and Gregory Mannarino discuss how the economy will crash, many of the topics include the debt ceiling, bond yields, stock market, gold and silver and war. The FED is at a tipping point if they don’t taper they know the market will collapse, so they mentioned tapering to test the markets and the markets did not respond positively to the news and dropped a considerable amount. So the FED is confusing the market. Meanwhile the US government is distracting the people of the US and the world with the war in Syria. The war the central bankers/US government are starting and they need to start is being used to keep the US dollar as the reserve currency plus it will cover up the entire economic collapse.