Start Of A Historic Global Financial Meltdown: US Economy Is Slipping Into Reverse, Europe Goes Back Into Collapse Mode, And Hyperinflation Is Coming To Every Developed Country Near You!!
by Bill Bonner, Daily Reckoning.com.au:
‘US economy slips into reverse,’ was the headline in the Financial Times.
The US economy didn’t move ahead in the last quarter of 2012. Instead, it started backing up at a 0.1% annual rate, to be precise.
That didn’t seem to bother anyone. They hardly noticed; and they didn’t seem to care what direction it was actually going. The Dow slid a little, but not much.
In the bar car, journalists generally dismissed the whole thing. It was a kind of optical illusion, they seemed to think, caused by the fact that the gunslingers had been a little slow on the draw in the waning months of 2012….
American Debt Rating Downgrade Coming, While Half of American Families Already on the Edge of Financial Ruin
from Fabian4Liberty:
Nearly Half Of American Families Live On The Edge Of Financial Ruin
In the past few years, Americans have learned a thing or two about how quickly disaster can strike.
And with each Hurricane Sandy, housing crisis, and stock market crash that rocks our world, we’re faced with the realization that many of us simply aren’t prepared for the worst.
A sobering new report by the Corporation for Enterprise Development shows nearly half of U.S. households (132.1 million people) don’t have enough savings to weather emergencies, or finance long-term needs like college tuition, health care and housing.
ECB to Double its Staff – Martin Armstrong
We are on the verge of a very serious collapse in Europe. France has effectively rejected German austerity and if Merkel is replaced by the Socialists, there goes Europe. Behind the scenes, Brussels is blaming, behind closed doors (on good sources), Switzerland and Britain claiming that the Euro would have made it if everyone was on board. Brussels absolutely loathes Switzerland both because of its tax policies and for its refusal to join the Euro and EU. If they could, they would honestly invade. That is how much they dislike the Swiss. The Brits have a referendum coming up on staying in the EU. They are talked about as traitors to the whole EU concept….
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