This month, August of 2015, is going to prove absolutely crucial as to whether the next financial collapse is (unavoidably) happening now. The month of July has thrown up many frightening and provable statistics that mean August will be pivotal in determining not whether we enter another crisis, but at what level and how destructive it will prove to be. Examples of such warning signs are as follows:
- Puerto Rico has just defaulted on a $58 million debt payment, with Obama still ruling out a bailout for the island.
- Canada has quietly yet officially moved into a new recession.
- Following their last board meeting, the International Monetary Fund (IMF) reveals its own “staff cannot reach agreement” regarding involvement in the Greek bailout; Germany’s Chancellor Merkel only sanctioned such a bailout with IMF participation.
- Italy is becoming Europe’s new Greece – only much larger. Youth unemployment in Italy is at 44%, a 38-year high, and the country’s debt-to-GDP ratio is now 135%.
- The 6-year S&P 500 upward trend has finally ended, prompting huge sales of investors’ shares.
- The Shanghai Composite Index fell 13.4% in July, despite Chinese government intervention.
- July was the worst moth for commodities in almost 4 years.
- Major U.S. coal producers are now simply declaring bankruptcy.
- Oil prices dropped nearly 20% in July, the largest fall since October, 2008 (the height of the last financial crisis).
- And Exxon Mobile posted its lowest quarter (Q) figures since 2009; this quarter, compared with last year’s, was down 51%. Chevron 2nd Q 2015 was down a colossal 90% compared with last year.
If you are becoming increasingly concerned about the economic fallout the U.S. is facing from years of massive unpaid debt, coupled with quantitative easing policies, please Like & Share this post.