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Global Economic Collapse ongoing...

iyraste1313
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Global Supply Chains Paralyzed After World's 7th Largest Container Shipper Files Bankruptcy, Assets Frozen 

by Tyler Durden Aug 31, 2016 8:32 PM 

... today the largest casualty finally emerged on Wednesday when South Korea's Hanjin Shipping, the country's largest shipping firm and the world's seventh-biggest container carrier, filed for court receivership after losing the support of its banks, leaving its assets frozen as ports from China to Spain denied access to its vessels.....

...my comment...unlike the global finances which continues to be propped by the global central banks.....economics still is based on market demand and costs of supply....as it goes down...no pumping of trillions of financial assets will do anything but prop up the elites...


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iyraste1313
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Joined: Jan 18 2014

Canada's economic output shrank by its largest percentage since the global economic crisis as the country's oil sector continued to struggle.

The Canadian government said gross domestic product (GDP) in the second quarter shrank by 1.6%, its largest loss since 2009....

from the BBC

This of course within the context of collapsing global economics, collasping global trade, import exports and manufacturing...

...it´s time for political movements in Canada to sovereignty and self reliance!

 


iyraste1313
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Pravda
US economy clinging to life as public debt nears $20 trillion

Societe Generale Bank analyst Albert Edwards said that consumers will hardly be able to keep the US economy afloat for long. According to him, it is the US consumer that keeps the US economy from recession, Business Insider wrote.

The analysts wrote in his article that the recession of the US economy was near. The only thing that keeps the US economy afloat is the level of consumer spending, which accounts for about 70% of US gross domestic product. However, the US may soon lose this support.

“It is difficult to say consumption is driving the economy forward, rather it is like a wood, worm-ridden crutch creaking under the strain of holding up a dead weight economy. This recovery, the fourth longest in history, is surely nearing its end,” Edwards wrote.

According to the analysts, the growing inflation rate in the US already starts to exhaust consumers’ resources. This can only add more fuel to the fire.

 

 


iyraste1313
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Global Trade Is Slowing “China had a great run, but it’s over.” Bruce Einhorn Bloomberg BusinessweekNovember 18, 2016 — 12:58 AM 

Until he takes office in January, President-elect Donald Trump won’t be able to follow through on his pledges to scrap the Trans-Pacific Partnership, renegotiate the North American Free Trade Agreement, or penalize Chinese imports. Even without him, protectionism is rising, and world trade is slowing.

Responding to an outcry from local steelmakers, the European Union this year has punished Chinese competitors for allegedly selling steel below cost. The EU has announced antidumping duties as high as 81.1 percent on Chinese steel. “Free trade must be fair, and only fair trade can be free,” European Commission Vice President Jyrki Katainen said in a statement on Nov. 9, adding that some 30 million European jobs depend on free trade.

Around the world, many companies that binged on easy credit after the global financial crisis have excess capacity and are struggling to find buyers, since economic growth in the U.S., Europe, and Japan is relatively weak, and China’s economy is cooling. “The pie is growing more slowly, and that makes domestic producers more defensive about their share of it and more willing to fight when threatened,” says Tim Condon, chief Asia economist in Singapore with ING. Bloomberg Intelligence chief Asia economist Tom Orlik points out that over the past two decades, consumers and businesses have spent heavily on laptops, tablets, and smartphones, but despite efforts by Apple and others to popularize smart watches, there’s no new must-have device to boost global trade. Stagnant income growth in the West also forces politicians to show they understand voters’ worries. “The pressure grows for governments to appease those voices by giving them the things they want,” says Orlik, “and the things they want are trade restrictions.”

The Obama administration in June raised U.S. tariffs on steel from China, India, Italy, South Korea, and Taiwan. In July, China accused Japan, South Korea, and the EU of dumping electrical steel used in generators and announced penalties of its own. India on Nov. 2 slapped antidumping duties on Chinese steel imports.


iyraste1313
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The Trend Continues: Macy’s, Sears, And Kmart Announce Over 200 Store Closings And 10,000+ Layoffs Nationwide

JANUARY 7, 2017

By Melissa Dykes

 


iyraste1313
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There should be a separate thread for updates on the bursting real estate bubble...but of course it+s all connected to the inevitable collapse of the financial asset bubbles...leading to total paralysis....

 

Suddenly, Home Sale Agreements Are Falling Apart Across the U.S.The share of sales that failed to close doubled in 2016, and nobody knows why.by Patrick ClarkTue Jan 10 2017 23:01:05 GMT-0600 (Hora estándar de Centroamérica)

Spending months to find the perfect home in your price range, only to have your mortgage application rejected, or a home inspection turn up expensive repairs, is a nightmare—one that is coming true with increasing frequency, according to a new reportfrom real estate listings website Trulia.

 


Martin N.
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Joined: Oct 28 2016
You appear disappointed that it's taking so long.

iyraste1313
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Joined: Jan 18 2014

You appear disappointed that it's taking so long...

what I am trying to do is shake people out of their complacency...the longer it takes...the greater the debt builds (2 trillion annual central bank QE), the greater the collapse will be.....time to move on this is way past due, to prepare ourselves, to build alternative movement with its political expression...the globalist system is failing...and Canada is super vulnerable...yet no one in these pages seem the slightest interest except a very few


Sean in Ottawa
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Joined: Jun 3 2003

iyraste1313 wrote:

...yet no one in these pages seem the slightest interest except a very few

That is unfair and inaccurate.

The truth is that you and just about anyone talking about this are just guessing about when, and how, and how bad, this will hit. This speculation -- even to a legitimate worry, is not very productive and quite a few who are interested in the reality of what is happening may also decline from engaging in unsupported speculation.

Yes, the thing is fragile and dangerous and prone to fail -- to a number of different potential degrees. This will only carry a conversation so far.

You also have the crowd with the fantasy that it blowing up will create some era of lower prices and greater access to those of lower means. There is nothing to support this. In difficult times people of lower means suffer disproportionately. There is nothing to say that a crash would make housing affordable since a crash is likely to hurt people in different but very effective ways. Prices will go down but access to money will also.

Interventions to prevent a disordered collapse, if brought in with concern for those who cannot now afford housing, could offer some help, but governments seem inclined to not look down past their definition of middle class (high income earners).

As a result little hope is offered and the false hope some have of a collapse with a more level field after is no comfort to those aware that those with greater means will always be the ones with greater shelter from catastrophe. So while the well-off are vulnerable it is fantasy to think that a catastrophic collapse would not hurt everyone below them on the economic ladder. Only those with a solid belief in anarchy, and there are some here, take comfort in collapse. This is not a question of interest but rather observation that those with greater means will protect themselves with resources co-opted from those with less power.

You can expect in a collapse that positive cash flow properties will increase, rents will increase and the lower prices will allow the richest to buy up even faster real estate that will be rented to those who cannot afford to buy at even more disproportionate rates. Consider the gap between rent and financed cost of buying to be a premium delivered to the wealthy land-owners. In a crash this will increase offering great opportunity to those with the capital to take advantage. Those at the bottom of the land class will be booted off as the concentration on who gets to own property will increase.

So there you have it -- I will join the speculation saying that the result of a crash will be engineered to further exploit lower income people to the benefit of the wealthy. Sound familiar? This is the same as the run up which also is designed to exploit the lower income people to the benefit of the wealthy. In short both a bull and a bear market will benefit the same people at the cost of the same people.As the market rises lower income people get squeezed and as the market crashes the same thing will happen.

So pardon me if I don't seem terribly convinced that anything significant will change due to all the uncertainty. I am more interested in dynamics of change for those outside of the wealth-owning class.

 


iyraste1313
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Joined: Jan 18 2014

You also have the crowd with the fantasy that it blowing up will create some era of lower prices and greater access to those of lower means...

I`m sorry here I can`t do justice to your comments for lack of time...but the above statement is false.....I fear especially for the people of lower means in the cities...

This speculation..........do you not recall the crash of 2008? how about the dotcom collapse of 2001, the collapse of 1996 ad nauseum...each collapse more frightening...the 2008 one requiring all total some 23 trillion in bailouts, outright grants and public subsidized loan capital to the finacial system...since 2008 the central banks have been underwriting this system now over 2 trillion a year! When these central bank reserves are exhausted the system will implode!

Look around you at what is happening outside the comfortable arena of Ottawa! to say this is just speculation is absurd!

You are absolutely right that whatever happens it is a gameplan by the superwealthy to continue exploiting and impoverishing the 99%ers...that is why the necessity to act NOW! To plan Now! To build some political social economic movement now! To protect tha vast majority.....traditional politics won`t cut it, all emmeshed in the politics of globalization...which is fast collapsing around us!


Sean in Ottawa
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Joined: Jun 3 2003

iyraste1313 wrote:

You also have the crowd with the fantasy that it blowing up will create some era of lower prices and greater access to those of lower means...

I`m sorry here I can`t do justice to your comments for lack of time...but the above statement is false.....I fear especially for the people of lower means in the cities...

This speculation..........do you not recall the crash of 2008? how about the dotcom collapse of 2001, the collapse of 1996 ad nauseum...each collapse more frightening...the 2008 one requiring all total some 23 trillion in bailouts, outright grants and public subsidized loan capital to the finacial system...since 2008 the central banks have been underwriting this system now over 2 trillion a year! When these central bank reserves are exhausted the system will implode!

Look around you at what is happening outside the comfortable arena of Ottawa! to say this is just speculation is absurd!

You are absolutely right that whatever happens it is a gameplan by the superwealthy to continue exploiting and impoverishing the 99%ers...that is why the necessity to act NOW! To plan Now! To build some political social economic movement now! To protect tha vast majority.....traditional politics won`t cut it, all emmeshed in the politics of globalization...which is fast collapsing around us!

This is incoherent and not backed up and so I cannot reply to the substance.

I will reply to the gratuitous swipe at the fact I live in Ottawa. Wake the fuck up. Not everyone here works for the government or is in a bubble nor comfortable.

And I really think it is utter bullshit to challenge someone and then say that you are too lazy to spend the time to substantiate your challenge. Back it up or keep it to yourself and you might avoid reactions like this.

This tactic of saying I don't like what you said but since I cannot come up with a coherent rebuttal I'll just go with some stupid attack on the city you live in and some completely ignorant accusation that somehow I am more comfortable says more about you than me.

If you must know, when it comes to housing and housing prices, I am anything but comfortable. But that is none of your fucking business.

You have said nothing to engage with my contention that it is generally the most wealthy who have the greatest ability to benefit from radical change such as a crash and the poeple who have less suffer more.

Your second childish drive-by suggesting that you are more in support of social and economic movements than I am, and how what I am saying is a defence of traditional poliocies is nothing more  than a different kind of movement -- more of the fecal variety.

As for your rather feeble take on comprehension, I was clear that the problem itself is not speculation but when it will hit and how bad certainly is speculation. Perhaps you need to read more slowly in order to catch the meanings. You might want to insult more slowly as well if you would prefer that a response in kind not be delivered back to you.


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