Bombs Going Off One Level Down
John Rubino * DollarCollapse.com
It’s been a strange couple of weeks. US stocks are not far from all-time records, both nominally and adjusted for inflation. Home prices are soaring – up 33% y-o-y in the Bay Area, to take just one of many possible examples. A casual observer might assume that things are going great.
But one level down on the headline ladder it’s a very different story. The list of ominous events and trends has suddenly grown a lot longer. Among the bombs that went off last week:
Detroit declares bankruptcy
For years, analysts have been looking at the balance sheets and pension funds of dysfunctional entities like California, Illinois, Chicago, Detroit, and Oakland and wondering how much longer they could con the markets into believing that they were in any way capable of paying off their debts or making good on their pension obligations. Last week the first domino fell, as Detroit declared chapter 9 bankruptcy. The legal wrangling has just begun but initial bargaining positions have the city trying to eviscerate pension benefits and force massive haircuts on muni bond holders. If they succeed even partially, then the hundred or so other functionally-bankrupt cities may see this as the path of least resistance. The result: Turmoil in the muni market, which is generally considered a near-risk-free cash equivalent. See Avalanche of city debt downgrades and eventual bankruptcies coming up.
Corporate revenue growth stalls
Google and Microsoft both reported disappoinging revenue growth and their stocks tanked. Revenue is harder to fake than earnings, so it’s a more reliable indicator of big trends. Tech bellwethers reporting weak revenues implies that the economy is itself weaker than we’ve been led to believe. And corporate profits, which have provided much of the fuel for rising equity prices, can’t keep rising if revenues plateau. See The party may be over for tech stocks and Earnings season starting to look like a disaster.
Portugal and Spain descend into chaos
Both countries are finding it impossible to cope with life in a relatively-strong-currency regime. Unemployment is at capital “D” depression levels, home prices are plunging, voters are restless. Portugal’s government can’t pull together a working coalition, and the most popular party opposes the continuance of austerity. But the alternative to austerity is an exit from the eurozone. See Portugal political crisis: no end in sight.
Spain’s leaders, meanwhile, seem to have reacted to the economic crisis by trying to steal as much as possible while they could get away with it. Apparently they went to the well a few too many times and now the resulting scandal has reached all the way to the top. With much of the existing government implicated – but still in power – it’s not clear who will be left to do whatever it is that should be done about the economy. See Spain: scandals, lies, graft, and kickbacks
There’s more, including massive, insanely ill-timed layoffs in Greece and the IMF calling China’s policies “unsustainable”. But all of it points to slowing – and maybe negative — growth in the US in the coming year, which would make stock and real estate bubbles seem, in retrospect, a bit out of place.
http://dollarcollapse.com/the-economy/bombs-going-off-one-level-down/
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Whistler Blowers, Insiders
The NWO has no idea how things will play out and it’s almost worth it just to see the expression’s on their faces, I think most of us will get to see this.
Amen! The Word of God clearly states in Psalms that the Righteous shall be saved,and only with thine eyes shall we see God’s righteous Judgement on our enemies! I look forward to see their faces when their god of this world,whom they serve for love of money and power,will be conquered,crushed,revealed to many who will say,”Is this the man who made the whole world to tremble? How low has he been brought down! Where is his power now? For God Almighty has cast him into the abyss,together with the beast and the false prophet,and every unclean spirit,and those who worshipped the beast and took his mark!” A little paraphrasing,but absolute TRUTH! How terrible their torment will be,even for an Eternity! Its time to repent,and chose ye this day whom you will serve! You cannot serve 2 masters,or you will hate one and love the other. What fellowship has light with darkness? Come out of her my people,lest you receive of her plagues also. The children of God are in the world,but not of the World,for the god of this world seeks to kill,steal,and destroy the Kingdom of God,We are the light of this world,to share the gospel of Jesus Christ,Son of God,who came to set the captives free,the perfect sacrifice for the sins of the world,in His LOVE and Perfect will of God,He gave freely of His blood on the cross,was buried and raised in 3 days,Ascended into Heaven,back to The Father’s throne,and seated at His right hand,and we are His inheritance,Who writes our names in the book of Life! Soon He will return on the clouds,with tens of thousands of His Holy Ones,the Army of God,and shall conquer the evil empire,and Redeem the Remnant of Israel,Sealed by God,and they shall see and know that He is the One they pierced,and rejected,and ALL those that are alive and remain shall bow before the King of Kings,and His Kingdom shall reign 1000 yrs,then shall the people be judged according to their works,and whosoever’s name is not found in the Book of Life,shall reap eternal torment,and those that believed and kept His Commandments shall reap everlasting life,and shall be with Him forever,on a New Earth and a New Heaven. And God shall wipe away our tears,for there shall be no more pain,nor sickness,nor hunger or thirst,for we shall receive new bodies,incorruptible, and death shall be no more,nor any darkness,and the sun shall not scorch us ever again,for the Lamb is the Light of the New Jerusalem,and we shall be His people,and He shall be our God,and we shall no more go out,but be with him forever in Paradise! Thank You Lord for giving me a heart to believe,a contrite heart,and for Your Holy Spirit which dwells in me,and for peace beyond all understanding,a teachable spirit and a Love so perfect it casteth out all fear! Glory to God,and His Son Jesus Christ,who maketh intercession for us,to the Father,when we fall,You are Faithful to forgive a repentant heart,and shall remember them no more! I pray many come to believe,as they see the many warnings to repent that You have sent through the many signs on Earth,and in the heavens,signs in the sun,moon,and stars,wars and rumors of wars,nations divided against themselves,wickedness and lawlessness abound,pestilences,famine,disease and the Rise of the NWO,the economic collapse,animal die offs,the seas roaring,the seasons confused,false christ’s,false prophets, apostacy in the churches, wolves in sheep’s clothing,lack of morality and family values,the middle east wars,the secrets of the government,the peace treaty,a covenant with many peoples,pushed harder each day,the alien deception,the fallen angel technology and the nephalim,mixing with the seed of men,transhumanism,the rise of the ancients of Babylon,Daniel’s70 week timeline,so many signs,and such strong delusions! Such Deception and blindness! A generation of no faith,many say Who is God? There is no God! Its a fairytale,like Santa Clause,or the Bible was written by Elite to control weak minded fools! How blinded and deceived! Father soon all will know,and believe,i pray it isnt too late,so many are lost! Idolatry abounds,perversion abounds,murder of innocent children abounds,LOVE OF SELF ABOUNDS! Send them dreams oh Lord,for the midnight hour is upon us,Judgement is upon us!
Lol the bible was written BY the Illuminati, so why do you praise them as your God?
Praise the real God of this earth, and break free from the chains of your false religion.
We are magical beings.
You’re mistaken, ‘they’ have it all planned how to take it all down, and then go to war, and then to OWG. In any case, who is the they you refer to? And, by the expressions on their faces, do you mean those shown to us by CNN, BBC, etc? Do you believe those are real photos and not posed?
Nothing like a crap sandwich to start their day off with. Sadly, when it hits the fan most people will not know what hit them, and even less will understand how it happened.
I am ashamed of the president of America. He is a complete disgrace to the world. How can Obama not give the world his true birth certificate and reveal his true identity. Obama is a fraud. But more important, there are no great American people left. Only a bunch of wimps. Show the world that you can impeach Obama and we will have faith in the USA. America is the laughing stock of the world.
And Zimmerman is NOT GUILTY!! Get it?? You bunch of idiots – now you want to turn this case into a political black and white issue? I’m black. Zimmerman is HISPANIC you bunch of turf head Americans!!
America will leave Iraq with their tails between their legs, just like all the previous wars they lost!
obama “promised?” last year that, we will not let detroit fail, or something along those lines. anyway, flash forward to today and we find a city too f’d up to succeed! The theft, graft, leftwing communists have ransacked detroit for all its worth.
Combine the sycophants in office “who chased the producers out of town” with the parasitic leeches sucking the govt tit dry, and you get the debacle that is detroit!
Now odumbo is making speeches, for what purpose only his twisted mind “if he actually has one” knows for sure!
All democratic communistic enclaves will follow the same path of self destruction.. How’s that hope and change working out for ya??
Ouch: that has to hurt: are you listening? America.
California – Liberal
Illinois – Liberal
Chicago- Liberal
Detroit – Liberal
Oakland – Liberal
Anyone see a pattern? Don’t overthink the problem. It’s not a mystery. Sometimes the simplest answer IS the correct one.
Suckers Rally. Go learn some History, in 1928 the market hit all time highs. Those in charge crank it up, extract equities, then crash it. History repeats itself, it’s doing that now; Again.
I’ve been out of the stock and bond market for a year now. I may have pulled the trigger a little too soon, but I can sleep at night because of it.
I don’t feel sorry for the little guy who hasn’t got the sense to get out NOW. He should be paying attention.