Mac Slavo: Everywhere we look the masses are hurting. Whether it be the 100 million Americans dependent on the government safety net to survive, or the millions of Europeans rioting in the streets of Spain and Greece, a sense of serious crisis is in the air.
Over the last four years, slowly and without abatement, the economic outlook across the globe has worsened significantly.
In France, a new 75% income tax on individuals earning over a million Euro ($1.2 million) per year was announced today. Incomes of $150,000 will be taxed at 40%. French business owners and citizens are scrambling to leave the country to avoid the new legislation. This has been done to offset the billions being used to bail out failing banks and reckless government spending. GET A FREE TREND ANALYSIS FOR ANY STOCK HERE!
Similarly, in the United States next year, individuals and small business owners will be hit with massive tax increases as universal health care is implemented across America.
Last week the Spanish Congress had to literally barricade themselves behind police and locked doors as thousands of protesters stormed their Congressional hall demanding the resignations of every representative.
The austerity sledgehammer is coming down hard, and everyone is starting to feel it.
The response from the political and financial elite has been to continue doing what they’ve been doing, because somehow the same financial and economic policies they’ve implemented over the last four years, those which have done nothing to increase jobs or economic growth, are going to make a difference now.
The decline is happening before our eyes. Millions of people in once stable economies have been impoverished by job losses, taxation and out of control price inflation on essential commodities like food and energy.
Charlie McGrath, of Wide Awake News, warns that what’s coming next is a catastrophic implosion – and none of us will be spared:
We’re destroying currencies around the world. And if you think it’s for a glorious reason of rebuilding economies and strengthening growth you better look at reality and see where we’re at right now and understand what’s coming next.
Because what’s coming next has played out in history before. You have a situation where very few institutions on top wage financial war against countries of the world, and when economies fall and when civilizations in a lot of cases fall, they swoop in and garner even more power. But we’re doing it on a global scale, digitally.
You are not sovereign if you have a group of bankers who can dictate the financial policy of your country. You are not sovereign. You are not in control of anything.
Understand, these guys are all in. You’re not going deeper than zero in interest rates. You are not going more easing than forever.
It is at the end of the road, and we are circling the drain ready to be let into this total global financial toilet bowl.
And at the end of the day they’ll be standing there with the solution.
They’ll be standing there with a solution when you’re paying 40%, 50%, 60% of what you earn to put food on the table for the kids who moved back into the house.
Our politicians are not working for us. They’re working for the people that make the money. Unfortunately in the United States of America it’s not Article 1, Section 8 of the Constitution where Congress coins money, it’s a bunch of central bankers that just happened to collapse the economy…
Europe, Japan, China, and the United States are in serious trouble. It may not happen next week, or next month. But, you can be assured, just as 2+2=4, that a financial and economic collapse is coming. GET A FREE TREND ANALYSIS FOR ANY STOCK HERE!
It will be (is) unprecedented in size and scope.
Tens of trillions of dollars in monetary printing in the US, Europe and China has not been enough to stave it off, and all signs indicate that the next round of multi-trillion dollar infusions will do nothing but extend the game just a bit further.
We have long since passed the point of no return and are rapidly approaching the breaking point.
ETF DN Related Tickers: SPDR Gold Trust (NYSEARCA:GLD), iShares Silver Trust (NYSEARCA:SLV), Ultra Silver ETF (NYSEARCA:AGQ), Direxion Daily Small Cap Bear 3X Shares ETF (NYSEARCA:TZA), Direxion Daily Financial Bear 3X Shares ETF (NYSEARCA:FAZ).