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Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead

Saturday, November 7, 2015 23:48
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Reagan Advidor

Is the United States economy recovering – or are we being lied to by the mainstream establishment? Why has Gold recently hit a five year low despite long term predictions of it’s rise in value? Are the government statistics on inflation accurate? What does the future hold for the US Dollar? Why has the Dollar strengthened and how will this play out in the long term? What does Peter Schiff think about Donald Trump and his recent success in the Republican presidential primary?

With all the news that’s come out over the last year, it boggles the mind that there are still those who are in denial of what is coming to toward the U.S. economy. Right now a tsunami of biblical proportions is cresting, and when it breaks, you better be ready to run for the hills. 

In the video below, as always, Peter Schiff under complicates the whole economic forecast. If more people would follow his lead, and leave their Ivy league educations in their trunk, we’d have a lot more Americans preparing their families for what is coming. Instead, one of two things is happening here: Television pundits know damn well that a financial storm the likes of which this country has never seen is coming, but they also know that if they start screaming the sky is falling like an honest player would, first people will start liquidating, then they’ll stop watching, and finally the pundit will end up losing their sponsors. In other words, there is very little incentive for the pundit to be honest, even if they DO know what is going on. The other scenario is that half these Keynesian economists out there really don’t have any clue, and that’s scary. 

Peter breaks it down REAL simple. Remember 2008? Sure, Alan Greenspan lowered rates to 1% for a while, but the Fed didn’t keep rates at ZERO for SEVEN YEARS back then, not to mention there have been three rounds of quantitative easing throughout this crisis, and look at how much damage was done in 2008! This time around, the Fed has played MUCH faster, and MUCH loser with monetary policy than it did in 2008, so common sense should dictate that the crash is going to be MUCH worse! Sadly, for so many people, they keep drinking the Kool-Aid. 

The second thing that Peter talks about is how even the little money that IS flowing out there in the economy, is not even going toward things like capital investments. Without capital investments, there is no chance the economy is going to grow. Reports say that right now, the average age of our corporate plants and equipment is the oldest its been in over 67 years. That’s awful! Because of Obama’s policies, rather than investing in growth, companies are borrowing money for things like share buy-backs, which certainly doesn’t’ help the average working person… the one Obama purports to be helping. It’s lunacy. As the interview moves along, Peter give his predictions for Gold, as well as foreign investments, but be forewarned: The outlook is NOT good. The negative sentiments are echoed very loudly below by David Stockman, who served as the Director of the Office of Management and Budget under President Ronald Reagan, and Michael Snyder of the Economic Collapse Blog directly below.

Also, for anyone out there who was tracking the Shemitah, and predicting a major event in September or October, in the second interview below, Jeff Berwick interviews Bo Polny of Gold2020forecast.com, who has an almost impeccable track record with financial predictions. Bo says to expect a major event this month. More on that below….

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Michael Snyder writes:

Why won’t the American people listen to the warnings?  David Stockman was a member of the U.S. House of Representatives from 1977 to 1981, and he served as the Director of the Office of Management and Budget under President Ronald Reagan from 1981 to 1985.  These days, he is running a website called “Contra Corner” which I highly recommend that you check out.  Stockman believes that a global “debt super-cycle” that has been building for decades is now bursting, and he is convinced that the consequences for the U.S. and for the rest of the planet will be absolutely catastrophic.  His findings are very consistent with what I have been writing about on The Economic Collapse Blog, and if Stockman is correct the times ahead of us are going to be exceedingly painful.

But right now, most people don’t seem to be in the mood to listen to these types of warnings.  Even though there is a mountain of evidence that the global economy has already plunged into recession, U.S. stocks had a great month in October, and so most Americans seem to think that the crisis has passed.

Of course the truth is that the stock market is not an accurate barometer of the economy and it never has been.  Back in 2008, almost everything else started to go downhill before stocks did, and the same thing is happening once again.  In a recent article, Stockman explained that stocks are surging to absolutely ridiculous levels even though corporate earnings are actually way down

At this point, 75% of S&P 500 companies have reported Q3 results, and earnings are coming in at $93.80 per share on an LTM basis. That happens to be 7.4% below the peak $106 per share reported last September, and means that the market today is valuing these shrinking profits at a spritely 22.49X PE ratio.

And, yes, there is a reason for two-digit precision. It seems that in the 4th quarter of 2007 LTM earnings came in at 22.19X the S&P 500 index price. We know what happened next!

Why do so many refuse to see the parallels?

This crisis is unfolding so similarly to 2008, and yet most of the “experts” are willingly blind.

Much of the stock buying that has been happening in 2015 has been fueled by stock buybacks and by M&A (merger and acquisitions).  Many firms have even been going into debt to buy back their own stocks, but now sources of financing are starting to dry up.  This year we have already seen the most corporate debt downgrades since 2009, and big financial institutions are now becoming much more hesitant to loan giant stacks of cash to these large corporations at super low interest rates.

So it is very, very difficult to see how the equity markets are going to move much higher than they are right now.

Meanwhile, the global economy is starting to unravel right in front of our eyes.  In his recent piece, Stockman discussed some of these data points…

In the last two days we posted the latest data on two crucial markers of global economic direction——-export shipments from Korea and export orders coming into the high performance machinery factories of Germany.

In a word, they were abysmal, and smoking gun evidence that the suzerains of Beijing have not stopped the implosion in China, and that their latest paddy wagon forays—–arresting the head of China’s third largest bank and hand-cuffing several hedge fund managers including the purported “Warren Buffett” of China—-are signs not of stabilization, but sheer desperation.

So it is not surprising that Korea’s October exports—–the first such data from anywhere in the world—were down by a whopping 16% from last year, and have now been down for 10 straight months. Needless to say, China is the number one destination for Korean exports.

Likewise, German export orders plummeted by 18% in September, and this was no one month blip.

For many more recent statistics just like these, please see my previous article entitled “18 Numbers That Scream That A Crippling Global Recession Has Arrived“.

If the global economy really was doing “just fine” as Barack Obama and others suggest, then why is the largest shipping line in the world eliminating jobs and scaling back capacity?…

A.P. Moeller-Maersk A/S is scaling back capacity and cutting jobs in the world’s largest shipping line to adapt to a drop in demand.

The Danish company, which last month lowered its profit forecast for 2015 citing a gloomier outlook for the global shipping market, will shed 4,000 jobs in its Maersk Line unit as part of a program to “simplify the organization,” it said in an e-mailed statement on Wednesday.

And why are some of the biggest banks in the western world laying off tens of thousands of workers?…

Standard Chartered Plc became the third European bank in less than two weeks to announce sweeping job cuts, bringing the total planned reductions to more than 30,000, or almost one in seven positions.

The London-based firm said Tuesday it will eliminate 15,000 jobs, or 17 percent of its workforce, as soaring bad loans in emerging markets hurt earnings. Deutsche Bank AG, based in Frankfurt, last week announced plans for 11,000 job cuts, while Credit Suisse Group AG said it would trim as many as 5,600 employees.

And if things are so great in the United States, why is Target suddenly closing stores?

The truth, of course, is that things are not great.  Global GDP expressed in U.S. dollars is down 3.4 percent so far this year, and total global trade has plummeted 8.4 percent.

We have entered a major global economic slowdown, and like usual, equity markets will be the last to get the memo.

But when they finally do react, that is likely going to greatly accelerate our problems.  Just like we saw in 2008, when there is fear and panic in the financial markets that tends to cause the flow of credit to freeze up.  And that is something that we simply cannot afford, because the flow of credit has become the lifeblood of the global economy.

So no, “the crisis” is not “over”.

Rather, the truth is that “the crisis” is just beginning, and it will soon be making front page headlines all over the planet.

dollar-exploding-2

FOR MORE NEWS BY VOICE OF REASON CLICK HERE!

WWW.THELASTGREATSTAND.COM

In the following video, Jeff interviews Bo Polny of Gold2020forecast.com. Bo has been following the Shemitah for years picking November this year for the major event, the Shemitah started in September but leads up to the major event in November, historic market cycles and accurate predictions yield consistent returns, markets at the point of a major turn, massive breakout for gold and silver, the only strength left in the world is the US market and that looks like it is topping now, the Jubilee year means the meltdown can occur any time through the year up to October 2016, the flight to safety will be into gold and silver, when the moving average fails we are going to have some major movement in the price of gold, watch the price very closely!

FOR MORE NEWS BY VOICE OF REASON CLICK HERE!

WWW.THELASTGREATSTAND.COM

BY JEFF BERWICK of the DOLLAR VIGILANTE writes:

This summer I stated that I expected a fall crisis to happen – mostly based on my insights on an ancient timeline called the Shemitah. I produced several videos that went viral around the world.

In fact, the crisis  came a few weeks early when 23 international stock markets crashed in and around August, and the Dow fell over 1,000 points intraday near the end of August.

Peter Schiff Did a Fantastic Piece on the 2 Day Crash That Was Larger Than Any 1 Day Market Crash In U.S. History 

We profited immensely from it as we were positioned for collapse and one of our speculations rose 4,500% in three days! By then we were so well-known that  “Shemitah” and my name were among some of the top-searched terms on Google in early September.

I still expect further market meltdowns either this year or next. The fallout from Shemitah and its trends is nowhere near finished, and I’m working on a new video explaining that.

Others have weighed in including an analyst who has called nearly every major event this year nearly down to the day.. and he has also been following the Shemitah timeline. He even called  for September and October to be months that would include a rebound from the crash in August.

Now, he has predicted a crisis/crash period for November.

So far, as noted, he’s had a streak of great calls including:

China’s stock market peak in April 2015

Hong Kong market peak on April 29 2015

US stock market drop beginning in July 2015

Sharp drop in the stop market in August 2015

US stock market uneventful in September 2015

His name is Bo Polny of Gold2020Forecast and once I heard about his streak I contacted him and found that his theories were very much aligned with ours…

His latest call is for a November crash/crisis to occur and it certainly sounds possible. Even my mentor, Doug Casey, has recently shortened his call for a “crisis to happen in the next year” and has now stated he thinks it will begin to happen by the end of this year.

I attained an exclusive video interview with Bo Polny to hear his reasoning on why a major crisis/crash may happen in the dollar and the US markets this month as well as a major upmove in gold and silver.

We don’t have long to wait to see if he is right on his timing yet again.

If not, however, we are so close now to dramatic events that you  really need to be prepared now if you have not.

The markets are tenuous at best.

We called the rise in Bitcoin weeks ago and just today it was up another $75 and is currently near $435, nearly doubling now in the last month.  The massive crisis to come hasn’t happened yet… and already we are up nearly 100% on bitcoin in the last month.

I see Bitcoin as being a “canary in the coalmine” due to the limited ability for it to be manipulated to the extremes we’ve seen in gold and silver.

Collapse

FOR LINKS TO UNDERSTAND THE ECONOMY & THE COMING ECONOMIC COLLAPSE:

Peter Schiff: Warning! Economic Storm Clouds Ready to Rain

Jim Willie and 20 Reasons Why Quitting Prepping After September Was Wrong

There Are 102.6 Million Working Age Americans That Do Not Have A Job – Not Good!

Peter Schiff: The Currency Crises Will Come Quickly; Don’t Be Too Late To Prepare

Peter Schiff: Death of the US Dollar is Imminent; Fed Out Of Options;

Peter Schiff: 11 Trillion In Global Stock Losses and Awful Jobs Report

Peter Schiff: Janet Yellen and the Fed Are Conning the World Financial Markets

Will EU Become a New Enemy to the U.S. After Refugee Crisis Collapses EU?

Peter Schiff with Mr. “I Have No Fear Of an Economic or Stock Market Collapse”

Peter Schiff Explains Why Financial Bubbles Are Ready to Pop!

The Elite Have Prepared For the Coming Economic Collapse – Have You?

Peter Schiff: Does August Jobs Report Mean It’s Time For The Fed to Hike Rates?

China Issues Warning to Washington Confirming It’s Been Liquidating U.S. Treasuries

Peter Schiff On the 2 Day Stock Market Crash That Was Larger Than Any 1 Day 

10 Horrifying Realities Americans Find Too Awful To Face

Peter Schiff On China’s Currency Devaluation and the Federal Reserve Board

Peter Schiff Joins Alex Jones For A Few Epic Schiff Rants

Gerald Celente Predicts Economic Collapse Means World War III (Video)

Can You Imagine Empty Grocery Stores?

Putin Makes Chilling Threat to Obama That Could Change Everything in the U.S.

Gerald Celente: America Headed Towards Total Financial Collapse

Deathblow to the Dollar – Even Our “Allies” Abandoning U.S.

“America Is A Collapsing Third World Country” Says Gerald Celente

What Will Happen To YOU When The Dollar Collapses?

 

 

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