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Economy About to Collapse ( Again) - Did it ever recover ?

Started by EvadingGrid, Oct 09, 2017, 03:11:20 AM

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Economy About to Collapse ( Again) - Did it ever recover ?

The so called 'warnings' are now coming with alarming frequency. Trouble is the economy is not over heating, wages have in real terms gone down. Yet a careful trail of blame the public, blame anyone but the banks articles are being printed.

What has happened during this time period is Quantitative Easing, by the Banks, for the Banks.

Daily Mail
Debt binge of £203 BILLION threatens to sink the UK economy as the IMF warns of a new financial crash looming

Last Edit by Palmerston

David Icke Bot

Warnings of Financial Crash as Stock Markets Continue to Surge


'As stock markets continue to rise—Wall Street's Dow Jones index hit a new record high yesterday following the US Senate's passage of a massive tax cut bill—there are growing warnings that a new financial crisis is in the making.

In its quarterly review of financial conditions, issued on Sunday, the Bank for International Settlements (BIS), sometimes known as the central bankers' bank, said the situation bore similarities to that which prevailed in the lead-up to the 2008 crash.

Increases in interest rates by the US Federal Reserve and the Bank of England had failed to choke off risky investments, and financial bubbles were growing, it warned. Financial investors were basking in the "light and warmth" of improving global economic growth, subdued inflation and soaring stock markets, while underlying risks were increasing.

Introducing the BIS review, Claudio Borio, the head of its monetary and economic department, said:

   "The vulnerabilities that have built around the world during the long period of unusually low interest rates have not gone away. High debt levels, in both domestic and foreign currency, are still there. And so are frothy valuations.

"What's more, the longer the risk-taking continues, the higher the underlying balance sheet exposure may become. Short-term calm comes at the expense of possible long-run turbulence."

Last Friday, Neil Woodford, described as one of Britain's most high-profile investment fund managers, issued a warning even sharper than that of the BIS. In an interview with the Financial Times, he said stock markets around the world were in a "bubble" that, when it burst, could be "bigger and more dangerous" than some of the worst market crashes in history.'

Read more: Warnings of Financial Crash as Stock Markets Continue to Surge

Last Edit by Gladstone


More Americans are defaulting on their credit cards: analyst


QuoteResendiz noted the recent second quarter net credit card default numbers rose for Bank of America and JPMorgan. In an otherwise rosy report, the amount of in-default charge card bills rose by 10 percent and 9 percent respectively, compared with the same period in 2017.

But JPMorgan charge-off rates remain "low" on a historical basis, said spokeswoman Betty Riess.

The latest numbers also come at the same time that those with the poorest credit card records — subprime borrowers — saw their credit card debt increase by 26 percent, ValuePenguin said.

Another observer, LendingTree.com, noted a $16.25 billion increase in revolving debt in May. "This was the biggest May jump since 1995," it said. Revolving debt is the card debt that is carried from month to month, usually at high interest rates because a card, unlike a house, is an unsecured debt.

Revolving and non-revolving debt is currently at $3.86 trillion, LendingTree said. It predicts it will pass $4 trillion this year.

Last Edit by Gladstone