Tuesday, July 7, 2015

Episode 165, Is This the Start of "The Collapse"?

Two important events happening in the world today:
  1. The Greek technical default on the debt it owes the European Union.
  2. The crashing of the Chinese stock market.
Do either events, or both, portend the start of The Collapse?  Will future historians declare either as having triggered the chaotic descent into catastrophic hard times, which many of us believe will be worse than the Great Depression?

In this show I review the criteria I've laid down, in the form of the economic benchmarks, for declaring that The Collapse has arrived. These include metrics for the US stock markets, unemployment, and gross domestic product.

We then look at the two situations, the Greek default and the China stock market crash, with an eye toward assessing the severity of their impact on the rest of the world.

Will either event "trigger" The Collapse we're expecting? Listen and find out!

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  1. the answer is yes, on the greek looting op, no on the Chinese hicup because their stock market is marginal.. Then there are the real estate ripoffs in NYC http://www.harlemlook.net/2015/07/no-longer-empty-at-bronx-courthouse.html

  2. The New York city market will be the last bubble to pop because of all the international money chasing safety.