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• Donald Trump Is Starting To Sound Just Like An Alternative Financial Blog
• Not All That Glitters Is Gold With SecureWorks
• The Voldemort Effect in the Gold Market
• GOLD CARTEL LOSING CONTROL – Andy Hoffman
• Was the Panama Papers “Leak” a Russian Intelligence Operation?
• Pierre Lassond On the End of the Bear & $8000 Dollar Gold
• Robert Kiyosaki: Will We ALL Be Buried in the Landslide?
• Celebration Of Fire: China to Upend Dollar With Gold In April? -Jim Willie
• Doug Casey – We are Leaving the Eye of the Hurricane!
• Here We Go: Bank Bail Ins Begin as EU Bank “Bailed In” In Austria
• Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic
• Supply Side Shift: How Gold & Silver Dealers Are Responding to the 2015 Silver Shortage
• Depressing Survey Results Show How Extremely Stupid America Has Become
• Gold Price Supported Near 1200; Test of Highs Coming
• Corporate Debt Defaults Explode To Catastrophic Levels Not Seen Since The Last Financial Crisis

Donald Trump Is Starting To Sound Just Like An Alternative Financial Blog Posted: 11 Apr 2016 11:00 AM PDT Is Donald Trump a member of Fight Club or an avid SilverDoctors reader?   Submitted by Michael Snyder:  Guess what Donald Trump is saying now?  Last week, I discussed how Robert Kiyosaki and Harry Dent are warning that a major crisis is inevitable, but I didn't expect Donald Trump to come out and say essentially […] The post Donald Trump Is Starting To Sound Just Like An Alternative Financial Blog appeared first on Silver Doctors.

Not All That Glitters Is Gold With SecureWorks Posted: 11 Apr 2016 10:45 AM PDT

The Voldemort Effect in the Gold Market Posted: 11 Apr 2016 10:00 AM PDT Gold market analysts have for many years puzzled over the unusual behavior of the gold market during the 1990s, specifically the bizarrely flat gold price from 1993 to 1996 in the face of sustained selling pressure from central banks and gold miners hedging their production. To-date no one has been able to identify the hidden […] The post The Voldemort Effect in the Gold Market appeared first on Silver Doctors.

GOLD CARTEL LOSING CONTROL – Andy Hoffman Posted: 11 Apr 2016 09:30 AM PDT So much for a big correction! Gold surged to $1260 and silver is popping through $16 this morning.  Just exactly HOW MANIPULATED is the price of gold, and are signs beginning to appear that the gold cartel is losing control?   Gold surges towards $1260:   Silver is up nearly $1 over the past 2 […] The post GOLD CARTEL LOSING CONTROL – Andy Hoffman appeared first on Silver Doctors.

Was the Panama Papers “Leak” a Russian Intelligence Operation? Posted: 11 Apr 2016 09:30 AM PDT If this was the work of the CIA, it was an extremely sloppy and obvious hit job. On the other hand, if this was the work of Putin for the purposes of blackmail, it's one of the most ingenious chess moves I've ever seen played on the global stage…   Submitted by Michael Krieger:  As […] The post Was the Panama Papers "Leak" a Russian Intelligence Operation? appeared first on Silver Doctors.

Pierre Lassond On the End of the Bear & $8000 Dollar Gold Posted: 11 Apr 2016 09:15 AM PDT Franco-Nevada’s Pierre Lassond is “very sure” gold’s 5 year bear market is over and we’re at the start of a new bull market. Just how high could gold go during this new bull market?  Invest in Gold Eagle Coins at SD Bullion The post Pierre Lassond On the End of the Bear & $8000 Dollar Gold appeared first on Silver Doctors.

Robert Kiyosaki: Will We ALL Be Buried in the Landslide? Posted: 11 Apr 2016 08:00 AM PDT Are we in a death spiral; is the next great depression about to hit?   The post Robert Kiyosaki: Will We ALL Be Buried in the Landslide? appeared first on Silver Doctors.

Celebration Of Fire: China to Upend Dollar With Gold In April? -Jim Willie Posted: 11 Apr 2016 07:00 AM PDT Is THIS why the price of gold and silver have shot higher this morning…?   Submitted by Jim Willie, GoldenJackass.com: What an incredible insult to the banker cabal, replete with Satanists like uber-leader Rothschild, if the fiat paper currency system centered upon the USDollar is upended by China during mid-April! Any wresting of control within […] The post Celebration Of Fire: China to Upend Dollar With Gold In April? -Jim Willie appeared first on Silver Doctors.

Doug Casey – We are Leaving the Eye of the Hurricane! Posted: 11 Apr 2016 06:00 AM PDT Markets are at the edge of a precipice… The post Doug Casey – We are Leaving the Eye of the Hurricane! appeared first on Silver Doctors.

Here We Go: Bank Bail Ins Begin as EU Bank “Bailed In” In Austria Posted: 11 Apr 2016 01:53 AM PDT Bank bail ins in the EU are here after Austria's financial markets regulator FMA imposed a hefty haircut on creditors in an Austrian bank. Creditors in the bank Heta Asset Resolution will receive less than half of their money back according to the country's financial regulator, the FMA…   Submitted by Mark Obyrne:  Senior bondholders in the […] The post Here We Go: Bank Bail Ins Begin as EU Bank "Bailed In" In Austria appeared first on Silver Doctors.

Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic Posted: 10 Apr 2016 06:00 PM PDT Mainstream news outlets are already starting to use the phrase “economic collapse” to describe what is going on in some areas of our world right now.  For many Americans this may seem a bit strange, but the truth is that the worldwide economic slowdown that began during the second half of last year is starting to get a lot worse.  In this article, we are going to examine evidence of this from South America, Europe, Asia and North America.  Once we are done, it should be obvious that there is absolutely no reason to be optimistic about the direction of the global economy right now.  The warnings of so many prominent experts are now becoming a reality, and what we have witnessed so far are just the early chapters of a crushing economic crisis that will affect every man, woman and child in the entire world. Let’s start with Brazil.  It has the 7th largest economy on the entire planet, and it is already enduring its worst recession in 25 years.  In fact, at the end of last year Goldman Sachs said that what was going on down there was actually a “depression“. But now the crisis in Brazil has escalated significantly. I want to share with you an excerpt from a recent article entitled “Brazil: Economic collapse worse than feared“.  I know, that title sounds like it comes directly from The Economic Collapse Blog, but I didn’t write it. It actually comes from CNN… Amid political chaos, Brazil’s economic collapse is worse than its government once believed. In the midst of rising calls to impeach President Dilma Rousseff, Brazil’s central bank announced Thursday that it now expects the country’s economy to shrink 3.5% this year. That’s worse than the central bank’s previous estimate for a 1.9% contraction. The darker forecast matches what the International Monetary Fund projected for Brazil — Latin America’s largest country — and what many independent economists have suspected. It is one thing for Michael Snyder to tell you that Brazil is in the midst of “economic collapse”, but it is another thing entirely for CNN to say it. And of course I have been warning about the crisis down in Brazil for quite some time now.  For much more on this, please see my previous article entitled “The Economic Collapse Of South America Is Well Underway“. Meanwhile, things are actually much worse in Venezuela than they are in Brazil.  Food and basic supplies are in short supply, the inflation rate has hit 720 percent, and crime is completely out of control. The following is from an article in the Independent entitled “Venezuela is on the brink of complete economic collapse“… The only question now is whether Venezuela’s government or economy will completely collapse first. The key word there is “completely.” Both are well into their death throes. Indeed, Venezuela’s ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it’s hard to see that getting any better for them any time soon — or ever. Incumbents, after all, don’t tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It’s no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt. Once again we see a very respected mainstream publication using the phrase “economic collapse” to describe what is happening in South America. You can find some stunning video of the “economic Armageddon” that is taking place in Venezuela right here.  I would encourage you to watch that video, because what is happening down there will eventually be happening here. Meanwhile, over in Europe the collapse of the Italian banking system has entered a disturbing new chapter.  Italy’s finance minister has called a meeting in Rome for Monday that will be focusing on a “last resort” bailout plan for the troubled banks… Finance minister Pier Carlo Padoan has called a meeting in Rome on Monday with executives from Italy's largest financial institutions to agree final details of a “last resort” bailout plan. Yet on the eve of that gathering, concerns remain as to whether the plan will be sufficient to ringfence the weakest of Italy's large banks, Monte dei Paschi di Siena, from contagion, according to people involved in the talks. Italian bank shares have lost almost half their value so far this year amid investor worries over a €360bn pile of non-performing loans — equivalent to about a fifth of GDP. Lenders' profitability has been hit by a crippling three-year recession. As Italy descends into financial chaos, the rest of the continent better be paying attention. Do you remember how hard it was for the rest of Europe to rescue Greece? Well, Greece has the 44th largest economy on the planet. Italy has the 8th. It would be hard to overstate the seriousness of what is going on over in Europe, and it is not just Italy we are talking about.  All over the continent major banks are in deep trouble, and the chairman of France’s second largest  retail bank recently told reporters that “I am much more worried than I was in 2009“. And there is very good reason for concern.  On Sunday, we learned that a major “bail-in” had just been announced for one of Austria’s most prominent banks.  The following comes from Zero Hedge… And then today, following a decision by the Austrian Banking Regulator, the Finanzmarktaufsicht or Financial Market Authority, Austria officially became the first European country to use a new law under the framework imposed by Bank the European Recovery and Resolution Directive to share losses of a failed bank with senior creditors as it slashed the value of debt owed by Heta Asset Resolution AG. The highlights from the announcement: Today, the Austrian Financial Market Authority (FMA) in its function as the resolution authority pursuant to the Bank Recovery and Resolution Act (BaSAG – Bundesgesetz über die Sanierung und Abwicklung von Banken) has issued the key features for the further steps for the resolution of HETA ASSET RESOLUTION AG. The most significant measures are: a 100% bail-in for all subordinated liabilities, a 53.98% bail-in, resulting in a 46.02% quota, for all eligible preferential liabilities, the cancellation of all interest payments from 01.03.2015, when HETA was placed into resolution pursuant to BaSAG, as well as a harmonisation of the maturities of all eligible liabilities to 31.12.2023. According to the current resolution plan for HETA, the wind-down process should be concluded by 2020, although the repayment of all claims as well as the legally binding conclusion of all currently outstanding legal disputes will realistically only be concluded by the end of 2023. Only at that point will it be possible to finally distribute the assets and to liquidate the company. The dominoes are starting to fall in Europe, and I would expect even bigger announcements in the weeks and months to come. Over in Asia, economic chaos is beginning to prevail as well. In China, the stock market is already down more than 40 percent from the peak, Chinese exports were down 25.4 percent on a year over year basis in February, and Chinese economic numbers overall have not been this poor since the depths of the last global recession. At the same time, the Japanese economy is really struggling right now.  As I wrote about the other day, Japanese GDP has shrunk for two out of the last three quarters, we just saw Japanese industrial production experience the biggest one month decline that we have witnessed since the tsunami of 2011, and business sentiment has fallen to a three year low.  The Nikkei has dropped by about 5,000 points from where it was last summer, and some analysts believe that Japanese markets “are being destroyed” due to massive intervention by the Bank of Japan. Here in the United States, we haven’t been hit quite as hard as the rest of the world just yet, but there are lots of very disturbing warning signs all around us. At the end of last week, we learned that it is being projected that U.S. GDP will have grown by just 0.1 or 0.2 percent during the first quarter of 2016.  And on Monday corporate earnings reporting season begins, and it is expected to be a very, very bad one.  The following comes from Business Insider… We are about to get confirmation that earnings growth for America’s biggest companies was negative in the first quarter, compared to the same period a year ago. When aluminum giant Alcoa releases its results on Monday, it will mark the unofficial start of the heaviest reporting season for S&P 500 companies. The final scoreboard is expected to show a 9.1% earnings drop for the quarter, according to FactSet senior earnings analyst John Butters. If these projections turn out to be accurate, it will be the fourth quarter in a row of earnings declines.  This is something that we never see outside of a recession. And for a whole bunch more numbers which indicate that the U.S. economy is in very serious trouble, please see my previous article entitled “19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago“. Of course I am just another voice in the crowd when it comes to predicting that the U.S. economy is headed for rough times.  For example, just check out what Societe Generale economist Albert Edwards is saying… A tidal wave is coming to the US economy, according to Albert Edwards, and when it crashes it's going to throw the economy into recession. …the profit recession facing American corporations is going to lead to a collapse in corporate credit. "Despite risk assets enjoying a few weeks in the sun our fail-safe recession indicator has stopped flashing amber and turned to red" … He continued: Whole economy profits never normally fall this deeply without a recession unfolding. And with the US corporate sector up to its eyes in debt, the one asset class to be avoided — even more so than the ridiculously overvalued equity market — is US corporate debt. The economy will surely be swept away by a tidal wave of corporate default. As you can see, it isn’t just one nation or one region of the world that we need to be concerned about. Economic chaos is erupting literally all over the planet, and global leaders are starting to panic. Unfortunately, they have had seven years to try to fix things since the last global recession, and they didn’t get the job done.  Anyone that believes that by some miracle they will be able to pull us out of the fire this time and that everything will somehow be okay is simply engaged in wishful thinking. *About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael's controversial new book about Bible prophecy entitled "The Rapture Verdict" is available in paperback and for the Kindle on Amazon.com.*

Supply Side Shift: How Gold & Silver Dealers Are Responding to the 2015 Silver Shortage Posted: 10 Apr 2016 03:30 PM PDT GATA Chairman Bill Murphy Returns to the Show For a Critical Update, Discussing: Something’s Changed: I’ve Never Seen Gold Trade Like This Supply Side Shift: How Retail and Wholesale Gold and Silver Dealers Are Responding to the Great Silver Shortage of 2015 Is $100 Silver Really Possible?– When It Starts to Move and They Lose […] The post Supply Side Shift: How Gold & Silver Dealers Are Responding to the 2015 Silver Shortage appeared first on Silver Doctors. This posting includes an audio/video/photo media file: Download Now

Depressing Survey Results Show How Extremely Stupid America Has Become Posted: 29 Mar 2016 09:28 PM PDT Ten years ago, a major Hollywood film entitled “Idiocracy” was released, and it was an excellent metaphor for what would happen to America over the course of the next decade.  In the movie, an “average American” wakes up 500 years in the future only to discover that he is the most intelligent person by far in the “dumbed down” society that he suddenly finds himself in.  Sadly, I truly believe that if people of average intellect from the 1950s and 1960s were transported to 2016, they would likely be considered mental giants compared to the rest of us.  We have a country where criminals are being paid $1000 a month not to shoot people, and the highest paid public employee in more than half the states is a football coach.  Hardly anyone takes time to read a book anymore, and yet the average American spends 302 minutes a day watching television.  75 percent of our young adults cannot find Israel on a map of the Middle East, but they sure know how to find smut on the Internet.  It may be hard to believe, but there are more than 4 million adult websites on the Internet today, and they get more traffic than Netflix, Amazon and Twitter combined. What in the world has happened to us?  How is it possible that we have become so stupid?  According to a brand new report that was recently released, almost 10 percent of our college graduates believe that Judge Judy is on the Supreme Court… The American Council of Trustees and Alumni publishes occasional reports on what college students know. Nearly 10 percent of the college graduates surveyed thought Judith Sheindlin, TV’s “Judge Judy,” is a member of the U.S. Supreme Court. Less than 20 percent of the college graduates knew the effect of the Emancipation Proclamation. More than a quarter of the college graduates did not know Franklin D. Roosevelt was president during World War II; one-third did not know he was the president who spearheaded the New Deal. It can be tempting to laugh at numbers like these until you realize that survey after survey has come up with similar results. Just consider what Newsweek found a few years ago… When NEWSWEEK recently asked 1,000 U.S. citizens to take America's official citizenship test, 29 percent couldn't name the vice president. Seventy-three percent couldn't correctly say why we fought the Cold War. Forty-four percent were unable to define the Bill of Rights. And 6 percent couldn't even circle Independence Day on a calendar. Even worse were the extremely depressing results of a study conducted a few years ago by Common Core… *Only 43 percent of all U.S. high school students knew that the Civil War was fought some time between 1850 and 1900. *More than a quarter of all U.S. high school students thought that Christopher Columbus made his famous voyage across the Atlantic Ocean after the year 1750. *Approximately a third of all U.S. high school students did not know that the Bill of Rights guarantees freedom of speech and freedom of religion. *Only 60 percent of all U.S. students knew that World War I was fought some time between 1900 and 1950. Of course survey results can be skewed, and much hinges on how the questions are asked. However, even studies that are scientifically conducted confirm how stupid America has become.  In fact, a report from the Educational Testing Service found that Americans are falling way behind much of the rest of the industrialized world.  The following comes from CBS News… Americans born after 1980 are lagging their peers in countries ranging from Australia to Estonia, according to a new report from researchers at the Educational Testing Service (ETS). The study looked at scores for literacy and numeracy from a test called the Program for the International Assessment of Adult Competencies, which tested the abilities of people in 22 countries. The results are sobering, with dire implications for America. It hints that students may be falling behind not only in their early educational years but at the college level. Even though more Americans between the ages of 20 to 34 are achieving higher levels of education, they’re still falling behind their cohorts in other countries. In Japan, Finland and the Netherlands, young adults with only a high school degree scored on par with American Millennials holding four-year college degrees, the report said. Out of 22 countries that were part of the study, the Educational Testing Service found that Americans were dead last in tech proficiency, dead last in numeracy and only two countries performed worse than us when it came to literacy proficiency… Half of American Millennials score below the minimum standard of literacy proficiency. Only two countries scored worse by that measure: Italy (60 percent) and Spain (59 percent). The results were even worse for numeracy, with almost two-thirds of American Millennials failing to meet the minimum standard for understanding and working with numbers. That placed U.S. Millennials dead last for numeracy among the study's 22 developed countries. So why has this happened? Why have we become such an extremely stupid nation? Well, at least a portion of the blame must be directed at our system of education.  The following is an excerpt from an article written by reporter Mark Morford.  In this article, he shared how one of his friends which had served for a very long time as a high school teacher in Oakland, California was considering moving out of the country when he retired due to the relentless “dumb-ification of the American brain”… It's gotten so bad that, as my friend nears retirement, he says he is very seriously considering moving out of the country so as to escape what he sees will be the surefire collapse of functioning American society in the next handful of years due to the absolutely irrefutable destruction, the shocking — and nearly hopeless — dumb-ification of the American brain. It is just that bad. Now, you may think he's merely a curmudgeon, a tired old teacher who stopped caring long ago. Not true. Teaching is his life. He says he loves his students, loves education and learning and watching young minds awaken. Problem is, he is seeing much less of it. And of course things don’t get much better when it comes to our college students.  In a previous article, I shared some statistics from USA Today about the rapidly declining state of college education in the United States… -“After two years in college, 45% of students showed no significant gains in learning; after four years, 36% showed little change.” -“Students also spent 50% less time studying compared with students a few decades ago” -“35% of students report spending five or fewer hours per week studying alone.” -“50% said they never took a class in a typical semester where they wrote more than 20 pages” -“32% never took a course in a typical semester where they read more than 40 pages per week.” I spent eight years studying at some of the finest public universities in the country, and I can tell you from personal experience that even our most challenging college courses have been pathetically dumbed down. And at our “less than finest” public universities, the level of education can be something of a bad joke.  In another previous article, I shared some examples of actual courses that have been taught at U.S. universities in recent years… -"What If Harry Potter Is Real?" -"Lady Gaga and the Sociology of Fame" -"Philosophy And Star Trek" -"Learning From YouTube" -"How To Watch Television" Could you imagine getting actual college credit for a course entitled “What If Harry Potter Is Real?” This is why many of our college graduates can barely put two sentences together.  They aren’t being challenged, and the quality of the education most of them are receiving is incredibly poor. But even though they aren’t being challenged, students are taking longer to get through college than ever.  Federal statistics reveal that only 36 percent of all full-time students receive a bachelor's degree within four years, and only 77 percent of all full-time students have earned a bachelor's degree by the end of six years. Of course our system of education is not entirely to blame.  The truth is that young Americans spend far more time consuming media than they do hitting the books, and what passes for “entertainment” these days is rapidly turning their brains to mush. According to a report put out by Nielsen, this is how much time the average American spends consuming media on various devices each day… Watching live television: 4 hours, 32 minutes Watching time-shifted television: 30 minutes Listening to the radio: 2 hours, 44 minutes Using a smartphone: 1 hour, 33 minutes Using Internet on a computer: 1 hour, 6 minutes When you add it all up, the average American spends more than 10 hours a day plugged into some form of media. And if you allow anyone to pump “programming” into your mind for 10 hours a day, it is going to have a dramatic impact. In the end, I truly believe that we all greatly underestimate the influence that the mainstream media has on all of us.  We willingly plug into “the Matrix” for endless hours, but then somehow we still expect “to think for ourselves”. There are very few of us that can say that we have not been exposed to thousands upon thousands of hours of conditioning.  And all of that garbage can make it very, very difficult to think clearly. It is not because of a lack of input that we have become so stupid as a society.  The big problem is what we are putting into our minds. If we continue to put garbage in, we are going to continue to get garbage out, and that is the cold, hard reality of the matter.

Gold Price Supported Near 1200; Test of Highs Coming Posted: 29 Mar 2016 11:18 AM PDT

Corporate Debt Defaults Explode To Catastrophic Levels Not Seen Since The Last Financial Crisis Posted: 28 Mar 2016 06:58 PM PDT If a new financial crisis had already begun, we would expect to see corporate debt defaults skyrocket, and that is precisely what is happening.  As you will see below, corporate defaults are currently at the highest level that we have seen since 2009.  A wave of bankruptcies is sweeping the energy industry, but it isn’t just the energy industry that is in trouble.  In fact, the average credit rating for U.S. corporations is now lower than it was at any point during the last recession.  This is yet another sign that we are in the early chapters of a major league economic crisis.  Yesterday I talked about how 23.2 percent of all Americans in their prime working years do not have a job right now, but today I am going to focus on the employers.  Big corporate giants all over America are in deep, deep financial trouble, and this is going to result in a tremendous wave of layoffs in the coming months. We should rejoice that U.S. stocks have rebounded a bit in the short-term, but the euphoria in the markets is not doing anything to stop the wave of corporate defaults that is starting to hit Wall Street like a freight train.  Zero Hedge is reporting that we have not seen this many corporate defaults since the extremely painful year of 2009… While many were looking forward to the weekend in last week’s holiday-shortened week for some overdue downtime, the CEOs of five, mostly energy, companies had nothing but bad news for their employees and shareholders: they had no choice but to throw in the towel and file for bankruptcy. And, as Bloomberg reports, with last week’s five defaults, the 2016 to date total is now 31, the highest since 2009 when there were 42 company defaults, according to Standard & Poor’s. Four of the defaults in the week ended March 23 were by U.S. issuers including UCI Holdings Ltd. and Peabody Energy Corp., the credit rating company said. And by all indications, what we have seen so far is just the beginning.  According to Wolf Richter, the average rating on U.S. corporate debt is already lower than it was at any point during the last financial crisis… Credit rating agencies, such as Standard & Poor's, are not known for early warnings. They're mired in conflicts of interest and reluctant to cut ratings for fear of losing clients. When they finally do warn, it's late and it's feeble, and the problem is already here and it's big. So Standard & Poor's, via a report by S&P Capital IQ, just warned about US corporate borrowers' average credit rating, which at "BB," and thus in junk territory, hit a record low, even "below the average we recorded in the aftermath of the 2008-2009 credit crisis." What all of this tells us is that we are in the early stages of an absolutely epic financial meltdown. Meanwhile, we continue to get more indications that the real economy is slowing down significantly.  According to the Atlanta Fed, U.S. GDP growth for the first quarter is now expected to come in at just 0.6 percent, and Moody’s Analytics is projecting a similar number… First-quarter growth is now tracking at just 0.9 percent, after new data showed surprising weakness in consumer spending and a wider-than-expected trade gap. According to the CNBC/Moody’s Analytics rapid update, economists now see the sluggish growth pace based on already reported data, down from 1.4 percent last week. Of course if the government was actually using honest numbers, people wouldn’t be talking about the potential start of a new recession.  Instead, they would be talking about the deepening of a recession that never ended. We are in the terminal phase of the greatest debt bubble the world has ever experienced.  For decades, the United States has been running up government debt, corporate debt and consumer debt.  Our trade deficits have been bigger than anything the world has ever seen before, and our massively inflated standard of living was funded by an ever increasing pile of IOUs.  I love how Doug Noland described this in his recent piece… With U.S. officials turning their backs on financial excesses, Bubble Dynamics and unrelenting Current Account Deficits, I expected the world to lose its appetite for U.S. financial claims. After all, how long should the world be expected to trade real goods and services for endless U.S. IOUs? As it turned out, rather than acting to discipline the profligate U.S. Credit system, the world acquiesced to Bubble Dynamics. No one was willing to be left behind. Along the way it was learned that large reserves of U.S. financial assets were integral to booming financial inflows and attendant domestic investment and growth. The U.S. has now run persistently large Current Account Deficits for going on 25 years. Seemingly the entire globe is now trapped in a regime of unprecedented monetary and fiscal stimulus required to levitate a world with unmatched debt and economic imbalances. History has seen nothing comparable. And I would strongly argue that the consequences of Bubbles become much more problematic over time. The longer excesses persist the deeper the structural impairment. As this bubble bursts, we are going to endure a period of adjustment unlike anything America has ever known before.  I talk about the pain coming to America in my new book entitled “The Rapture Verdict” which is currently the #1 new release in Christian eschatology on Amazon.com.  To be honest, I don’t know if any of us really understands the horror that is coming to this nation in the years ahead.  None of us have ever experienced anything similar to it, so we don’t really have a frame of reference to imagine what it will be like. This spike in corporate debt defaults is a major league red flag.  Since the last financial crisis, our big corporations went on a massive debt binge, and now they are starting to pay the price. We never seem to learn from the errors of the past.  Instead of learning our lessons the last time around, we just went out and made even bigger mistakes. I am afraid that history is going to judge us rather harshly. Those that are waiting for the next great financial crisis to begin can quit waiting, because it is already happening right in front of our eyes. If you believe that the temporary rebound of U.S. stocks is somehow going to change the trajectory of where things are heading, you are going to end up deeply, deeply disappointed.

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