‘At the Brink’? August 2013 Forecasts: U.S./World Economic Collapse

posted by Ida B. Wells IV @ 10:33 AM
August 26, 2013

us_economic_collapse    Maybe its summer doldrums, but several economic forecasts converge on the same conclusion: economies in the United States and around the world now quickly fall to a state of collapse. Call it recession, depression whatever you want!

In the U.S. the problem is, as 24/7 Wall Street points out, most of the ‘10 Largest Employers in the U.S.’ hire part-time minimum wage workers who do not earn enough purchasing power to spur the economy forward.

Alexander E.M. Hess says these companies include Walmart, with 1.3 million workers, the largest in the country; McDonald’s 440,000 employees; Kroger Co.’s 343,000 workers; Target’s 361,000 workers; Home Depot’s 340,000 employed; United Parcel Service’s (UPS) 399,000 mostly part-time help!  Get the picture?  Scions have ‘part-timed, minimum waged’ US into economic free-fall.

The Sovereign Investor also insists in “The Wal-Mart Indicator Signals an Economic Collapse,” the party’s over! He quotes retail consultant Howard Davidowitz:  “Wal-Mart didn’t suddenly become stupid. . . . The economy is in a state of collapse. That’s what’s going on.”

In ‘This Age of Bubbles,’ Paul Krugman extends the bad news internationally, as he writes “another BRIC hits the wall.” BRIC means the economies of Brazil. Russia, India and China.  He says Western investors pumped these nations up with billions for expansion, and now they pull their monies out!

Just as those U.S. money ‘mavens’ went ‘mad’ for low-wage, part-time jobs, Krugman insists politicians went ‘mad’ with shapeimage_22lawless economic rules: “. . . obvious culprit is financial deregulation—not just in the United States but around the world, and including the removal of most controls on the international movement of capital. . . Cross-border flows of hot money. . .erupting. . .” Bubbles have burst!

Also Kazumasa Oguro, formerly Senior Economist at the Ministry of Finance’s Policy Research Institute, tells Zero Hedge that, in spite of leader Abe’s insistence that Japanese economists keep quiet––Japan’s economy is not in that good of a shape either.  And as usual, most EU nations sport unemployment rates above 25%.  So, as the old lady use to cry, “So where’s the beef?”  There is none!

Market Watch writes that Marc Faber, author of ‘The Gloom, Boom & Doom Report,’ tells his CNBC audience to brace for a Stock Market drop of 20% by the end of the year. Zero Hedge and Hindenburg Omen agree with Faber.

If only the wealthy in these nations had followed the teachings in wholesale Christian Bibles:  “. . . the labourer is worthy of his hire (Luke 10: 7) The labourer is worthy of his reward. . . For the scripture saith, Thou shalt not muzzle the ox that treadeth out the corn. The labourer is worthy of his reward (1 Timothy 5: 18).”

Instead now they must expect the judgments foretold in James:  “Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days (5: 1 – 7).”

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