Socio-Economics History Blog

Socio-Economics & History Commentary

Gerald Celente: Iran War, Oil or Tech Could Sink the Economy

  • War & Financial Calamity Two Biggest Trends – Gerald Celente
    by Greg Hunter’s USAWatchdog.com (Early Sunday Release)
    Top trends forecaster Gerald Celente thinks of all the things he studies, war and financial calamity are the two biggest trends he sees. The big game changer in the geopolitical global landscape is war coming from the Middle East.  Celente explains, “It’s the war against Iran.  That’s the way we see it, and we recently did a trend alert on it.  The Iran war will be World War III.  It will also probably be the war to end all wars and a good part of civilization if it happens.  These are the Persians, and they are not going anywhere.”


    Celente contends oil will be at the center of the conflict and points out, “Three years ago almost to the date, June of 2014 a barrel of oil was selling for $115, today around $45 a barrel. There is going to be economic turmoil throughout the Middle East.  I always say when all else fails, they take you to war.  You see the war between Yemen and Saudi Arabia, it’s going to blow into Saudi Arabia. . . . So, when we are looking at the Middle East, it’s really Iran.  They are shooting down Iranian planes and shooting down Iranian drones.  Iran is the bottom line in this. . . . So, we see these tensions really building up, and it’s going to be Iran.  If Iran and anybody goes to war, the Russians and the Chinese take the Iranian side, and Europe and the United States take the other side.”

    In the coming financial calamity trend, look no further than financially strapped Illinois that is so broke it is no longer allowed to sell Powerball lottery tickets. Illinois is insolvent and cannot pay its bills.  It has hundreds of billions of dollars in bond debt and pension obligations and no way to pay them. Celente says, “All it will do is screw the people.  That’s all it will do.  This is like austerity measures in other countries.  That means they are going to rob you of your pensions, your benefits, raise your taxes, and they will increase your retirement age until after you die.  So, what they will do is keep the Ponzi scheme going. . . . There are two different worlds.  The people’s lives can continue to decline.  That we are seeing with the wage data.  Obama bragged, folks I created 10 million jobs.  According to the Harvard/Princeton study, 94% are temporary work.   So, you can see all these collapses going on, but they will keep the Ponzi scheme going.  So, we will have a decline, in absence of a wild card, and we see a 10% correction in the market. If we have terror strikes or other wild cards, it’s going to be a crash because it’s all being held up by lies and dirty deals for the very rich.”

    read more.

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June 26, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

Two Italian Zombie Banks Toppled Friday Night

  • Two Italian Zombie Banks Toppled Friday Night
    by , http://wolfstreet.com/
    ECB shuts down Veneto Banca and Banca Popolare di Vicenza.
    When banks fail and regulators decide to liquidate them, it happens on Friday evening so that there is a weekend to clean up the mess. And this is what happened in Italy – with two banks!


    It’s over for the two banks that have been prominent zombies in the Italian banking crisis: Veneto Banca and Banca Popolare di Vicenza, in northeastern Italy.

    The banks have combined assets of €60 billion, a good part of which are toxic and no one wanted to touch them. They already received a bailout but more would have been required, and given the uncertainty and the messiness of their books, nothing was forthcoming, and the ECB which regulates them lost its patience.

    In a tersely worded statement, the ECB’s office of Banking Supervision ordered the banks to be wound up because they “were failing or likely to fail as the two banks repeatedly breached supervisory capital requirements.”

    “Failing or likely to fail” is the key phrase that banking supervisors use for banks that “should be put in resolution or wound up under normal insolvency proceedings,” the statement said. This is the first Italian bank liquidation under Europe’s new Single Resolution Mechanism Regulation. The ECB explained:

    read more.

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June 26, 2017 Posted by | Economics | , , , , | Leave a comment

What Can We Expect From The Economy? Another Recession? – Bill Holter Interview

  • Published on Jun 23, 2017
    http://crushthestreet.com 
    Bill Holter of JSmineset.com is with us to give us his insights on the current situation in the markets, we cover the importance of investing in Precious Metals and the Central Banks desperate attempts to manipulate and control the Precious Metals markets. TOPICS IN THIS INTERVIEW:


    01:45 The current outlook on Gold and Silver
    02:55 Can we expect another recession?
    06:00 Who is being scooped by the Yield Curve?
    07:45 How much longer can Central Banks supress Gold and Silver?
    10:20 Crypto Currencies surge gives glimpse to the future of Precious Metals Markets?
    15:35 Central Banks control the debt in a failing Economy!
    19:30 How to find out more from JSmineset

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June 24, 2017 Posted by | Economics | , , , , , , , , , , | Leave a comment

The Trump Era And The Outlook On Gold’s Performance – Bill Holter Interview

  • Published on Jun 18, 2017
    Bill Holter from JSmineset.com is here to give us and in-depth analysis on the current outlook on the Gold markets and the Trump era, we also discuss the relationship between Bitcoin and Gold and the best techniques to preserve your wealth. Importantly covered today is the possibility of a system shut down and what to expect if the Banks and Government go into a situation where public servants cannot be paid for work.


    TOPICS IN THIS INTERVIEW:
    01:50 The Trump era and Gold’s outlook
    05:40 Bitcoin’s a rival to Gold or an ally?
    07:20 Millennials a threat to the centralized establishment
    13:20 Can the President defeat the Deep State?
    17:05 How you should secure your wealth safely?
    21:20 FED Hike and China
    25:50 Credit shuts down the system could crash!

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June 23, 2017 Posted by | Economics | , , , , , , , , | Leave a comment

Crisis On The Horizon: Will It Be Economic Collapse? Global Civil Unrest? War? We Won’t Have To Guess Much Longer …

  • Crisis On The Horizon: Will It Be Economic Collapse? Global Civil Unrest? War? We Won’t Have To Guess Much Longer …
    by Jeremiah Johnson, June 20th, 2017, SHTFplan.com
    “Never let a crisis go to waste.” -Rahm Emmanuel
    The algorithm is simple: Governments coerce their pet monkeys to pay taxes into the system – the self-perpetuating machine – and thereby the monkeys become the very sources of funding to build, equip, staff, and enforce their own incarceration.


    There are too many individuals with dreams, plans, goals, and ambitions for themselves and their families.  There is too much individualism.  It eventually must be crushed, in order to maintain the existing social, political, religious, and economic order.  The order will eventually blend all of the elements and “homogenize” them to assure mutual self-support for the overall goal: the supremacy of the State and the subjugation of the masses.

    The paradigm shift is from the rugged individual raising a family of self-supporting and producing citizens that contribute to their government to the collective, where the individual is a number and controlled/controllable in every aspect.  The family has been divided to not think for the family and to be in awe and obedience to the State.  The end-state is this phrase:

    “I am the State; the State is all.”
    – The words of Quarlo in the episode “Soldier,” (The Outer Limits)

    We are seeing the transformation occur before our eyes.  We are also seeing the “justification” for such control in the form of a rise in various stages of actions labeled either as “civil unrest” or “terrorism” by the governments.  It was just announced on by Gateway Pundit in an article entitled Macron Hopes to Put France in a Permanent State of Emergencyvia a bill that will make it a law of the land.  Hello?

    The United States did that with the NDAA and the EO’s that recertified the continuous succession of “states of emergency,” and added to that by making (labeling under color of law) the whole world a “battlefield” in the “war on terror.”  The UK is “toying” with the idea of imposing Martial Law indefinitely upon Britain in wake of the “terrorist” bombings…the ones that coincided so nicely with Teresa May’s calling for an election…one that backfired on her.
    – 
    read more.

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June 22, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | Leave a comment

Danielle DiMartino Booth: Gold Could Take Off Like a Hockey Stick

  • Danielle DiMartino Booth: Gold Could Take Off Like a Hockey Stick
    by Greg Hunter’s USAWatchdog.com 
    Financial expert and former top Federal Reserve insider Danielle DiMartino Booth says the latest Fed rate hike is nothing less than an attempt to make life worse for President Trump. DiMartino Booth explains, “They are trying to do the opposite of what they did a year ago because the people who occupy the White House have changed.  That’s the only feasible answer I can come up with to explain the Fed tightening into a weakening economy.  Their own metrics don’t lie.  Nonfarm payroll growth has slowed appreciably over the last 12 months, and their favorite inflation metric is back below 2%.  These are the rules they have made up, not me.  They (the Fed) are making policies against their own rules, and there has to be a reason for it.”


    DiMartino Booth wrote a popular book called “Fed Up” that reveals the Fed’s manipulation of the financial markets and says flat out, “The Federal Reserve is bad for America.” DiMartino Booth says massive manipulation is the only way you can explain rising federal debt and stagnate or falling interest rates on the 10-year Treasury bond.  DiMartino Booth contends, “The only way you can fabricate the surreal balance between growing debt and falling interest rates is to manipulate that. . . . These are central bankers gone wild. . . . In 2008 and 2009, the credit markets were closer to $200 trillion in size.  Today the credit markets are closer to $300 trillion in size, and we still can’t say what and where the next systemic risk lies.”

    On gold, DiMartino says, “I think gold is in the very late stage of a correction phase. Once we get a sniff of true market reaction to any of these geopolitical events, I think you could see gold take off like a boomerang or a hockey stick. . . . If there is any slowing in the global economy, then the safe haven will not necessarily be U.S. Treasuries.  The ultimate safe haven is gold.”

    DiMartino Booth says it’s unlikely the Fed can fix the economy the next time it gets into trouble. DiMartino Booth says, “If you tack on slowing auto sales . . . we’re talking about a third of manufacturing jobs in this country . . . manufacturing is still big enough at the margin to lead the economy down. . . . When you aggregate the bloodletting in brick and mortar retail, what’s coming up in restaurants, what auto dealerships are looking to do with the land under their dealerships . . . you add all this up together and there is a perfect storm in this country for commercial real estate, that is highly overvalued, and throw in a black swan or two geopolitically and you could have a confluence of factors that the Fed could not fight.”

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June 21, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

Are Central Banks Getting Ready to Crash the System Again?

  • Are Central Banks Getting Ready to Crash the System Again?
    by Phoenix Capital, http://www.zerohedge.com/
    While investors pile into Tech Stocks based on endless promotion from the financial media, the US economy is rolling over. Last week the NY Fed downgraded its economic forecast for 2Q17 to just 1.9%. Even worse, it is now forecasting 2017 total growth to be a measly 1.5%. Yes, 1.5%. There is a clear trend to this chart… and it’s NOT up.(chart top of post)

    Wait, it gets worse. The Citi Surprise Index has collapsed to levels not seen since 2011.

    read more.

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June 21, 2017 Posted by | Economics | , , , , , , , | Leave a comment

Michael Pento: Federal Reserve Is Hiking Interest Rates into a Depression

  • Published on Jun 17, 2017
    Jason Burack of Wall St for Main St interviewed returning guest, author and President & Founder of Pento Portfolio Strategies http://www.pentoport.com/, Michael Pento.


    Michael’s book, The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market is available here on Amazon https://www.amazon.com/The-Coming-Bon… or on Audible audio book.

    Michael is a follower of the Austrian School of Economics or free market school of economics and he’s also worked in the financial industry for many years as a trader and Chief Economist.

    Due to technical problems with Skype and scheduling conflicts this interview was originally recorded on Tuesday, the call was dropped after about 14 minutes and a continuation of the interview (after the Fed’s decision to hike rates another 25 basis points later in the week) has not been able to be rescheduled yet.

    During this shortened interview, Michael talks about the Federal Reserve ignoring reality, looking at phony jobs numbers and continuing to hike interest rates into a worsening depression.

    Michael thinks the bond bear market may temporarily get a relief rally if the stock market crashes in the near future as capital temporarily goes into US Dollars and US Treasuries for liquidity purposes but a long term bear market in bonds has only just started.

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June 19, 2017 Posted by | Economics | , , , , , , , , , , | Leave a comment

This EXACT Same Thing Happened Before the LEHMAN Crisis! Global Economy Collapsing!

June 19, 2017 Posted by | Economics | , , , , | Leave a comment

The Next Economic Crisis Is Going To Leave The Majority Of People In Shock

  • Published on Jun 15, 2017
    EU has decided to put Greece further into debt. It is becoming clear that Greece will never get out of this debt hole. 70% of the people support the BREXIT. Canada’s existing home sales has declined rapidly. Bitcoin dropped on worries about cyber attacks and regulations. Nike cutting 1500 people. The US manufacturing industry declines once again. Illinois is worse now than back in the great depression of the 30s. Bloomberg’s Mike Cudmore says the Fed has just pushed us into a recession, what he really means a collapse of the economy. Japan has decided that they will look into joining China’s belt and road trade system. The Fed is now pushing the collapse is not holding back, most of the people are going to be shocked when this hits.

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June 17, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | Leave a comment

The Next Financial Crisis Has Already Arrived In Europe, And People Are Starting To Freak Out

  • The Next Financial Crisis Has Already Arrived In Europe, And People Are Starting To Freak Out
    by Michael Snyder, http://theeconomiccollapseblog.com/
    Did you know that the sixth largest bank in Spain failed in spectacular fashion just a few days ago?  Many are comparing the sudden implosion of Banco Popular to the collapse of Lehman Brothers in 2008, and EU regulators hastily arranged a sale of the failed bank to Santander in order to avoid a full scale financial panic.  Sadly, most Americans have no idea that a new financial crisis is starting to play out over in Europe, because most Americans only care about what is going on in America.  But we should be paying attention, because the EU is the second largest economy on the entire planet, and the euro is the second most used currency on the entire planet.  The U.S. financial system is already teetering on the brink of disaster, and this new financial crisis in Europe could turn out to be enough to push us over the edge.

    If EU regulators had not arranged a “forced sale” of Banco Popular to Santander, we would probably be witnessing panic on a scale that we haven’t seen since 2008 in Europe right about now.  The following comes from the Telegraph

    Spanish banking giant Santander has stepped in to the rescue ailing rival Banco Popular by taking over the failing lender for €1 in a watershed deal masterminded by EU regulators to avoid a damaging collapse.

    Santander will tap its shareholders for €7bn in a rights issue to raise the capital needed to shore-up Popular’s finances in a dramatic private sector rescue of Spain’s sixth-largest lender.

    It will inflict losses of approximately €3.3bn on bond investors and shareholders but crucially will avoid a taxpayer bailout.

    But now that a “too big to fail” bank like Banco Popular has failed, investors are immediately trying to figure out which major Spanish banks may be the next to collapse.  According to Wolf Richter, many have identified Liberbank as an institution that is highly vulnerable…

    read more.

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June 16, 2017 Posted by | Economics, GeoPolitics | , , , , , | Leave a comment

2017 Is Going To Be The Worst Retail Apocalypse In U.S. History – More Than 300 Retailers Have Already Filed For Bankruptcy

http://www.dailymail.co.uk/news/article-4339336/3-500-stores-set-close-country-two-months.html

Click on image for article.

  • 2017 Is Going To Be The Worst Retail Apocalypse In U.S. History – More Than 300 Retailers Have Already Filed For Bankruptcy
    by Michael Snyder, http://theeconomiccollapseblog.com/
    Not even during the worst parts of the last recession did things ever get this bad for the U.S. retail industry.  As you will see in this article, more than 300 retailers have already filed for bankruptcy in 2017, and it is being projected that a staggering 8,640 stores will close in America by the end of this calendar year.  That would shatter the old record by more than 20 percent.  Sadly, our ongoing retail apocalypse appears to only be in the early chapters.  One report recently estimated that up to 25 percent of all shopping malls in the country could shut down by 2022 due to the current woes of the retail industry.  And if the new financial crisis that is already hitting Europe starts spreading over here, the numbers that I just shared with you could ultimately turn out to be a whole lot worse.

    I knew that a lot of retailers were filing for bankruptcy, but I had no idea that the grand total for this year was already in the hundreds.  According to CNN, the number of retail bankruptcies is now up 31 percent compared to the same time period last year…

    Bankruptcies continue to pile up in the retail industry.
    More than 300 retailers have filed for bankruptcy so far this year, according to data from BankruptcyData.com. That’s up 31% from the same time last year. Most of those filings were for small companies — the proverbial Mom & Pop store with a single location. But there are also plenty of household names on the list.

    read more.

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June 15, 2017 Posted by | Economics | , , , , , | Leave a comment

The Economy Is Dead, A New Currency Will Replace The Old: David Quintieri

June 15, 2017 Posted by | Economics | , , , , , , , , | Leave a comment

Jim Rogers Expects the Worst Crash in Our Lifetime is Coming

  • Published on Jun 8, 2017
    Henry Blodget examines market valuations and the dismal expected returns that go along with them. Jim Rogers says the market will crash in the next few years and calls the Fed clueless.


    Henry Blodget dives deep into two charts from John Hussman. Based on many different market valuation measures, stocks are extremely expensive. Blodget does point out that stocks can always get more expensive in the short term. However, the expected long-term return on a portfolio of stocks, bonds, and cash is very low based on these valuation levels.

    An interview with legendary investor Jim Rogers. Rogers predicts a market crash in the next few years. One that he says will rival anything he has seen in his lifetime. He also goes after the Fed. Rogers says the Fed is clueless and is setting the US up for disaster. Rogers likes investing in depressed markets. Rogers says its just like your parents taught you… “Buy low and sell high. Don’t buy high and hope it goes higher.” He is investing in China, Russia, Japan and agriculture. All these markets are depressed. Unlike the US which is at an all-time high. Though Rogers says the most important thing is to invest in what you know.

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June 10, 2017 Posted by | Economics | , , , , , , , , , , , | Leave a comment

China Makes Move To End The Dollar! Petro-Dollar Collapse 2017?

  • Published on Jun 5, 2017
    China Now Pressuring Saudi oil exports be sold in Yuan. The Dollar Collapse is becoming a very real danger as a concerted effort to dethrone King Dollar as the world reserve currency The Petro Dollar stautus now looks more fragile than ever. China takes aim directly at the central point of strength to our very fragile fiat currency.

The grim reaper is coming for the petrodollar.

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June 10, 2017 Posted by | Economics, GeoPolitics, History | , , , , , , , , , , , , | Leave a comment