The Phaserl


11 Red Flag Events That Just Happened As We Enter The Pivotal Month Of August 2015

by Michael Snyder, The Economic Collapse Blog:

Are you ready for what is coming in August?  All over America, economic, political and social tensions are building, and the next 30 days could turn out to be pivotal.  In July, we saw things start to turn.  As you will read about below, a major six year trendline for the S&P 500 was finally broken this month, Chinese stocks crashed, commodities crashed, and debt problems started erupting all over the planet.  I fully expect that this next month (August) will be a month of transition as we enter an extremely chaotic time in the fall and winter.  Things are unfolding in textbook fashion for another major global financial crisis in the months ahead, and yet most people refuse to see what is happening.  In their blind optimism, they want to believe that things will somehow be different this time.  Well, the coming months will definitely reveal who was right and who was wrong.  The following are 11 red flag events that just happened as we enter the pivotal month of August 2015…

#1 Puerto Rico is going to default on a 58 million dollar debt payment that is due on Saturday.  Even though this has serious implications for the U.S. financial system, Barack Obama has said that there will be no bailout for “America’s Greece”.

#2 As James Bailey has pointed out, the most important trendline for the S&P 500 has finally been broken after holding up for six years.  This is a critical technical signal that will likely motivate a significant number of investors to sell off their holdings in the weeks ahead.

#3 The IMF is indicating that it will not take part in the new Greek debt deal.  As a result, the whole thing may completely fall apart

Leaked minutes of the fund’s latest board meeting, which took place on Wednesday, showed staff “cannot reach agreement at this stage” on whether to take part in the new €86bn (£60bn) bailout for Greece. The document said there were doubts over the capacity of the Athens Government to implement economic reforms, as well as the over the sustainability of the country’s sovereign debt pile, which is now projected to hit 200 percent of GDP.

The German Chancellor, Angela Merkel, only sanctioned a new Greek deal earlier this month on the condition that the IMF takes part.

#4 Italy is going down the exact same path as Greece, but Italy is going to be a much larger problem for Europe because it has a far, far larger economy.  This week, we learned that youth unemployment in Italy has reached a 38-year high of 44 percent, and Italy’s debt to GDP ratio has now hit 135 percent.

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2 comments to 11 Red Flag Events That Just Happened As We Enter The Pivotal Month Of August 2015

  • Thinking outside the matrix

    Please join me in waking people up by making videos! The Elite are rapidly changing the environment for the West for the emergence of new power and authority in the new world. The west freedom will rapid fall under tyrannical powers while the east will enjoy new found wealth and freedom. The rise of a new digital currency will be used as a system of accounting for world trade. Two cyropto currencies currently on the radar are Bitcoin and XRP currently being promoted by insiders in the know.

  • NaySayer

    I saw an interesting looking book and didn’t realize until I started reading it that it was written by the head of Stratfor private elite intelligence company, George Friedman.

    It was called “The Next 100 Years” and he stated that the crash wasn’t supposed to happen until 2020. I am sure that as a lackey of the 1% warlords that he thinks he is in the inner circle, but I think they are losing control too fast and they aren’t going to make it to the 2020 deadline he was told about.

    PS. Watch the movie “The Internet’s Own Boy” about how the government killed Aaron Schwartz.

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