Photo: Wikipedia Commons
More bad news for Wall Street
There is more bad financial news coming at us from all angles.
Here are some samplings from the wealth of bad financial news that is coming out everyday:
- A shocking new Bloomberg survey has found that approximately one out of three international investors expect a “global economic meltdown” within the next 12 months, and 70 percent of them believe that the global economy is deteriorating rapidly.
- Financial markets in Europe were rocked Monday when it was revealed that Greece is not going to hit the deficit reduction targets set for it either this year or next year despite all of the severe austerity measures that have already been implemented. Needless to say, a lot of financial authorities in Europe were very displeased by this news.
- German Finance Minister Wolfgang Schaeuble publicly declared that Germany will not contribute any more money to the European bailout fund. The truth is that the political will for more bailouts has totally dried up in Germany.
Regarding the decaying worldwide financial situation, Ambrose Evans-Pritchard had this to say in a recent editorial:
THERE WILL BE NO FISCAL UNION.
THERE WILL BE NO EUROBONDS.
THERE WILL BE NO DEBT POOL.
THERE WILL BE NO EU TREASURY.
THERE WILL BE NO FISCAL TRANSFERS IN PERPETUITY.
THERE WILL BE A STABILITY UNION – OR NO MONETARY UNION.
Basically, this is his way of saying that “the sky is falling” and that the financial system of Europe is doomed.
If you have followed the writing of Ambrose Evans-Pritchard for any length of time, then you know that he is one of the most respected financial journalists in the world and that he is not prone to indulge in much “doom and gloom”. For him to say what he did is very significant.
Even if there were no financial problems in Europe, the United States would probably be slipping into another recession anyway.
Right now our economy is a total mess, and all kinds of people are coming out of the woodwork and are trying to take credit for “calling” the upcoming recession.
But do the American people really need some experts to tell them that we are going into another recession?
The American people know what is going on. And more and more, Americans are realizing what they have to do.
Protect your family by storing food, water, and other supplies. Do it now while there is still time.