“The Economy Is Going To Collapse” – Here Are 18 Signs That The Economic Meltdown We Have Been Waiting For Has Already Begun

by Michael

In all my years of writing, I have never seen more economic pessimism than I am seeing right now.  Over the past couple of months there has been a monumental shift in public sentiment, and now just about everyone realizes that we are heading into very troubled economic times.  Of course there were still a few economic optimists that were searching for a ray of hope, but the Federal Reserve left no room for optimism when it announced the largest interest rate hike in 28 years on Wednesday.  When the Fed aggressively raised rates in the early 1980s, it resulted in one of the most painful recessions in American history.  Unfortunately, many believe that what is ahead of us is going to be even worse.

For example, legendary Wall Street investor Michael Novogratz is openly warning that “the economy is going to collapse”

#1 Stock prices have been plummeting in recent weeks, and that has resulted in almost 3 trillion dollars being erased from retirement accounts in the United States…

#2 The Dow Jones Industrial Average fell beneath the psychologically important 30,000 barrier for the first time in more than a year on Thursday.  If it cannot return to that level within the next few trading sessions, a lot of investors are really going to start to panic.

#3 The Dow is now down 19 percent from the all-time high.

#4 The S&P 500 is now down 24 percent from the all-time high.

#5 The Nasdaq is now down 34 percent from the all-time high.  Just think about that for a moment.  A third of the value of the Nasdaq has already been wiped out.

#6 Two-thirds of the value of all cryptocurrencies has already been wiped out since the peak of the market.  Last November, the total value of all cryptocurrencies had soared past the three trillion dollar mark.  As I write this article, that number has fallen to less than a trillion.

Read further at: http://theeconomiccollapseblog.com/the-economy-is-going-to-collapse-here-are-18-signs-that-the-economic-meltdown-we-have-been-waiting-for-has-already-begun/

SA Jural Assembly Comment: some time in the future our descendants will shake their heads and say: “Our ancestors were loonies; their entire civilization collapsed only because of a fiction called money that existed only in their addled minds…”

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