by Dave Hodges, The Common Sense Show:
If Clinton cannot win, the globalists will crash the economy. For all intents and purposes, the economy has already crashed, only the crumbs are falling to earth.
Here is a quick look at where we are. I want to stress that we are weeks away from this possibility.
Plunging Oil Prices
The low oil prices represent a financial risk which is equivalent with the housing bust. Most recently, experts are sqmetalsseeing the signs of another global financial meltdown which is nudging the global economies into a series of quantitative easing in a new round of forcing taxpayers to support bankers from their own mistakes through the private theft of public assets.
Plunging European Bank Stocks Are Devastating the Banks
Key bank stocks in Europe are trading at levels lower than in the depths of both the global financial crisis (2009) and the European sovereign debt crisis (2012).
Just one week before it wanted to release its financial results, it already issued a profit warning to the markets, and Deutsche Bank’s capitalization has lost in excess of 5B EUR since the profit warning, on top of seeing an additional 18B EUR set of devastating losses since last summer. Deutsche Bank’s trading is now less than 50% of the share price it was trading at in July of 2015. In short, the bottom is falling out of the European banks and there is no end in sight to the carnage.
The Horrific State of America’s Energy Company Health
There is no shortage of places to hang your hat with regard to the dire straits that the American energy industry finds itself in.
From the Economic Collapse Blog:
“Since the start of 2015, 42 North American oil companies have filed for bankruptcy, 130,000 good paying energy jobs have been lost in the United States and at this point, 50 percent of all energy junk bonds are “distressed” according to Standard & Poor’s. …some of the big banks have a tremendous amount of loan exposure to the energy industry, and now they are bracing for big losses. And the longer the price of oil stays this low, the worse the carnage is going to get.”
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