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The American People Are Utterly Clueless About What Is Going To Happen As We Enter 2015

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PurpleSkyz

PurpleSkyz
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The American People Are Utterly Clueless About What Is Going To Happen As We Enter 2015

Posted on December 30, 2014 by Michael Snyder
The American People Are Utterly Clueless About What Is Going To Happen As We Enter 2015 Wrong-Way-Public-Domain-300x300The American people are feeling really good right about now.  For example, Gallup’s economic confidence index has hit the highest level that we have seen since the last recession.  In addition, nearly half of all Americans believe that 2015 will be a better year than 2014 was, and only about 10 percent believe that it will be a worse year.  And a lot of people are generally feeling quite good about the people that have been leading our nation.  According to Gallup, once again this year Hillary Clinton is the most admired woman in America and Barack Obama is the most admired man in America.  I don’t know what that says about our nation, but it can’t be good.  Unfortunately, when things seem to be going well common sense tends to go out the window.  A couple days ago, the Guardian ran an article entitled “Goodbye to one of the best years in history“, and a whole lot of people out there are feeling really optimistic these days.  But should they be?
Sadly, what we are experiencing right now is so similar to what we witnessed in 2007 and early 2008.  The stock market had been on a great run, people were flipping houses like crazy and most people were convinced that the party would never end.
But then it did end – very painfully.
The signs of trouble were there, but most people chose to ignore them.
Sadly, the exact same thing is happening again.
On Monday, the price of oil hit a brand new five year low.  As I write this, U.S. oil is sitting at a price of $53.76 a barrel, which is nearly a 50 percent decline from the peak earlier this year.
There is only one other time in history when the price of oil has declined by more than 50 dollars a barrel in such a short time frame.  That was back in the middle of 2008, shortly before the worst stock market crash since the Great Depression.
Unless the price of oil starts really bouncing back, the U.S. economy is going to be hit really hard.
Since 2009, oil industry employment has risen by 50 percent.  And jobs in the oil industry pay quite well.  One figure that I saw put the average weekly wage at about 1700 dollars.
But now we aren’t going to be gaining those types of jobs.  Instead, we are going to rapidly start losing them.
Already, the oil rig count has dropped for three weeks in a row and is now at an 8 month low.  And as the oil industry suffers, all of the industries that it supports are also going to start feeling the pain.  In fact, Business Insider is reporting that Texas business executives are “freaked out” about what is happening…
Business executives in Texas are worried about the drop in oil prices.
On Monday, the Dallas Fed’s latest manufacturing survey showed that activity in Texas was slowing down.
The latest composite index came in at 4.1, widely missing expectations and down big from November’s reading. Expectations were for the index to come in at 9, down from 10.5 last month.
So while most Americans are feeling really good about the coming year, many of those with an inside view are becoming quite alarmed.  One Texas business executive went so far as to say that the stunning decline in oil prices was “going to make things ugly … quickly.“
Meanwhile, the 9 trillion dollar U.S. dollar carry trade is starting to unwind.
The following is an excerpt from a recent Zero Hedge article…
Oil’s collapse is predicated by one major event: the explosion of the US Dollar carry trade. Worldwide, there is over $9 TRILLION in borrowed US Dollars that has been ploughed into risk assets.
Energy projects, particularly Oil Shale in the US, are one of the prime spots for this. But it is not the only one. Economies that are closely aligned with commodities (all of which are priced in US Dollars) are getting demolished too.
Just about everything will be hit as well. Most of the “recovery” of the last five years has been fueled by cheap borrowed Dollars. Now that the US Dollar has broken out of a multi-year range, you’re going to see more and more “risk assets” (read: projects or investments fueled by borrowed Dollars) blow up. Oil is just the beginning, not a  standalone story.
If things really pick up steam, there’s over $9 TRILLION worth of potential explosions waiting in the wings. Imagine if the entire economies of both Germany and Japan exploded and you’ve got a decent idea of the size of the potential impact on the financial system.
And that’s assuming NO increased leverage from derivative usage.
Ouch.
And yes, as that last excerpt mentioned, derivatives could soon become a massive problem.  The big banks are holding trillions in commodity derivatives that could blow up if the price of oil does not rebound.  Overall, there are five U.S. banks that each have more than 40 trillion dollars of exposure to derivatives of all types, and the total global derivatives bubble is at least 700 trillion dollars at this point.
At the same time, many are becoming concerned that the unprecedented bond bubble that we are witnessing could soon implode and trillions of dollars of “wealth” could disappear into thin air.
In fact, Bloomberg says that we should “get ready for a disastrous year” for bonds…
Get ready for a disastrous year for U.S. government bonds. That’s the message forecasters on Wall Street are sending.
With Federal Reserve Chair Janet Yellen poised to raise interest rates in 2015 for the first time in almost a decade, prognosticators are convinced Treasury yields have nowhere to go except up. Their calls for higher yields next year are the most aggressive since 2009, when U.S. debt securities suffered record losses, according to data compiled by Bloomberg.
That certainly does not sound very optimistic, does it?
Anyone with even a minimal amount of intelligence should be able to see the massive financial bubbles that the central banks of the world have created, and anyone with even a minimal amount of intelligence should be able to see that we are heading for a massive financial implosion which will be extraordinarily painful.
Unfortunately, as I wrote about yesterday, the American people have become “zombiefied“.  Instead of thinking for themselves, they let “the matrix” do their thinking for them.  And right now “the matrix” is telling them that everything is going to be just fine in 2015.
If you do not think that there is a propaganda machine that tells us what to think, I want you to watch the video posted below very carefully.  This video makes it so obvious that even a small child can understand it…




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PurpleSkyz

PurpleSkyz
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Chain Reaction of Problems Coming In 2015: “Collapse Will Be On A Scale That Is Many Magnitudes Greater Than 2008″

Posted on December 30, 2014 by Mac Slavo
The American People Are Utterly Clueless About What Is Going To Happen As We Enter 2015 Fuse-lit
If you’re like most Americans, then you are absolutely loving the price you paid this week for a gallon of gas. Just a couple of years ago it was not uncommon to see a $75 price tag for filling up your car. Today, you might be driving off for half that amount.
On the surface the recent drop in the price of oil has been a huge boost to America’s pocket books. But according to some analysts we shouldn’t be to quick to celebrate. The U.S. Oil and Gas industry has seen incredible job growth during the recession, with nearly 800,000 new jobs being attributed to domestic fracking and drilling expansion. At over $100 barrel, there was plenty of money to go around.
But with a sub-sixty dollar price point, it’s quite possible that all economic hell is about to break loose.
For many it has already begun.
Thousands of recently highly paid workers have been laid off after the oil price plummeted 50 percent in 2014. At least four American oil-producing states are already facing budget problems due to decreasing oil revenues.
[…]
In a study published last year, the Council on Foreign Relations warned the largest job losses caused by sharp decline in oil prices are going to take place in North Dakota, Oklahoma and Wyoming, where the number of drilling rigs is decreasing.
[…]
According to Tom Runiewicz, a US industry economist at IHS Global Insight, if oil stays around $56 a barrel till the middle of the next year, companies providing services to oil and gas industry could lose 40,000 jobs by the end of 2015, while oil and gas equipment manufacturers could slash up to 6,000 jobs.
These workers can earn more than $1,700 a week, much higher than the average $848 a week payment for other workers, the WSJ reported. When experienced workers lose their highly paid jobs, they stop paying their bills.
Source: RT
Those are the conservative estimates and they are based on a $56 price point, which is almost exactly where we are today. But Saudi Arabia and other OPEC nations have suggested the price could drop to $40 or even as low as $20.
In such a scenario we could easily see widespread layoffs in an industry that currently employs over 10 million Americans.
But that’s not even the worst of it.
While losing 50,000 or even a million jobs will have a major impact on consumer spending, and thus the economy, the real problem is the massive amount of leveraged bets and debt currently in the system. There are trillions of dollars of derivatives and leverage at play in financial markets, much of it centering around the oil & gas industry. Should the price of oil remain at these levels or go even lower then a lot of major financial institutions are going to be in trouble.
In a recent interview with King World News, John Ing says that not only did Congress remove financial safeguards when they passed their latest budget bill, but by doing so they left America susceptible to a disaster that will make 2008 look like a dress rehearsal.
While everybody appears to be celebrating the record highs on Wall Street, we are also seeing a loss of public trust.  One key example of this loss of public trust is when you look at the $1.1 trillion spending bill in the U.S., where there was the dilution of the Dodd-Frank Act which now allows for bail-ins in the United States… This will lead to disastrous consequences…
[…]
Meanwhile, the derivatives monster has gotten even bigger.  With the drop in the oil price we have yet to see the impact of the credit default swaps and what this will mean for the stability of the global financial system. 
This will certainly set off a chain reaction of problems in 2015.
[…]
The 2008 collapse was just a dress rehearsal compared to what the world is going to face this time around.  This time we have governments which are even more highly leveraged than the private sector was.
So this time the collapse will be on a scale that is many magnitudes greater than what the world witnessed in 2008.
Full Interview: King World News via Steve Quayle
On top of all the other problems being faced by Americans – low wages, lackluster job growth, increased medical care costs, rising prices on essential goods, and more taxes to name a few – could the sudden drop in the price of oil could be the trigger that sends the whole thing crashing down?
As we saw in 2008 it can happen quickly. Within a matter of a few weeks trillions of dollars in wealth were vaporized and America fell into it’s worst recession since the 1930′s.
This time, as John Ing notes, the magnitude of the crash will be significantly worse and even the U.S. Treasury Department has warned that the system is so volatile that should there be even a single hiccup in our government’s ability to borrow money it would lead to a catastrophic effect lasting more than a generation.
America sits on the brink of the largest financial and economic collapse in the history of the world and the recent drop in the price of oil could be the Black Swan no one saw coming.
Those who fail to position themselves accordingly could experience serious damage to their wealth and well-being if and when this happens. Time is running short and now is the time to prepare. After the panic starts it will be too late.
Courtesy of SHTFplan.com

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