6 Reasons the Economy is Collapsing Right Now

by C Serpa, Grams Gold The sky is falling again, you say. There’s a point where sites like this seem to get tiring, constantly preaching about the impending economic collapse, like the boy who cried wolf. Aand then there’s a time when the wolf actually appears and it’s time get the heck out! 2015 is the new 2008, and we are entering into the initial phases of a global economic collapse right now. Here are 6 reasons why, from precious metals expert Miles Franklin, written 2 days ago: “And thus, in no particular order, here are today’s “historically momentous” events; which, cumulatively, will make it eminently difficult for TPTB to prevent universal realization of a far more terrifying sort – “2008 is back.” “…the end game of history’s largest fiat Ponzi scheme, “QE to Infinity,” is not just inevitable, but imminent.preparedness people 1. In the case of “Dr. Copper” – the poster child of industrial commodity demand; or as I called it last year, “Dr. Death” – it is also amidst a horrific Chinese inventory scandal. In other words, it was just a matter of time before copper “met its maker.” And finally, after gradually weakening over the past week, it suddenly collapsed last night, along with zinc and all the base metals. The “Miles Franklin Silver All-Star Webinar Panel’s” forecast of a 25%-50% silver production decline will appear far more likely. 2. After plumbing 20-year lows for the past year, mortgage purchase applications exploded 24% last week alone; and refinancing applications, an incredible 66%! And no, this is NOT “good news”; but instead, the “sum of all fears” regarding U.S. consumer and Federal insolvency. Conveniently hidden from view, as Fannie and Freddie’s nearly $6 trillion of nationalized debt is held “off balance sheet.” Throw in the 3%-down mortgages the FHA is now offering to subprime lenders, and you can see the Fed’s printing presses have decidedly not been “tapered” – nor its appetite for financial destruction. Of course, you can bet that few, if any, of the 24% increase in mortgage applications will actually turn into new home purchases. Or, for that matter, that the waves of refinancing will cause Americans to “spend” – as opposed to paying off other debts. 3. It was reported that December retail sales not only plunged by 1.0%, compared to expectations of just a 0.1% decline. Thus, the oil price plunge has decidedly NOT acted as a “tax cut”; as not only evidenced by the shockingly bad retail sales, but plunging load factors at airlines like American Air! And oh yeah, even “excluding gasoline sales,” retail sales still declined. Continue Reading>>>

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