Bubbles, Bubbles The Economic Collapse Bubble – Episode 75

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In this report we will discuss the latest news on the economic collapse. There are 3 bubbles forming, the stock market, the treasury market and the real estate market. The FED, Government, and mainstream media is trying to convince the American people that the economy is doing well. All of these bubbles will pop and the economy will collapse.

Please check the Sentinel Alerts for the latest news on the economic collapse. The Sentinel Alerts are updated throughout the day. If you haven’t already, go to “The People” and join the community of people who are helping each through the economic collapse


Current News


Economy

Swiss banks forced to disclose US client names in tax evasion dispute

I thought taxes were voluntary, isn’t that what the IRS official said, if they are voluntary why does the bank need disclose information.  We know what this is, as the collapse gets closer the governments needs more revenue to pay the debt. So they implement more taxes and go after people to get taxes from them.

  • The Swiss government may have to cave in to US demands and disclose its banks’ client names in a bid to resolve the long-standing tax-evasion dispute between the two countries. Zurich would have to pay a multibillion-dollar fine or face court action.
  • According to Reuters’ industry insider sources, a government-brokered settlement has nearly been reached, but the Swiss finance minister has to find a way to dish out the deal without ruining the country’s reputation for keeping bank secrecy; a tradition which helped build the Alpine nation a $2 trillion offshore financial industry.
  • On Tuesday, the Swiss government ordered its third largest private bank, Julius Baer, to hand over data on US clients. Confidential information is due to be passed on to US tax authorities under the terms of an existing double taxation treaty between the two countries. Julius Baer replied it would provide the necessary data, though it didn’t reveal how many clients were involved.
  • At the end of April 2013, Julius Baer Group’s assets under management amounted to 220 billion Swiss francs ($207.7 million). The 16 per cent increase from the end of 2012 was in many ways thanks to its acquisition of Bank of America Corp.’s (BAC) Merrill Lynch wealth-management business outside of the US. Total client assets grew by 12 per cent to 309 billion Swiss francs.

 EU Extends Deficit Deadlines For Most European Countries, Admits Structural Adjustment Failure, Kills Austerity

So austerity doesn’t work, so what does?  More debt, more debt and more debt until all countries collapse


  • Moments ago, the following European Commission website hit the interwebs, which can be summarized as follows:
  • EU EXTENDS DEFICIT DEADLINE FOR POLAND TO 2014
  • EU EXTENDS DEFICIT DEADLINE FOR SLOVENIA TO 2015
  • EU EXTENDS DEFICIT DEADLINE FOR PORTUGAL TO 2015
  • EU EXTENDS DEFICIT DEADLINE FOR NETHERLANDS TO 2014
  • EU EXTENDS DEFICIT DEADLINE FOR SPAIN UNTIL 2016
  • EU RECOMMENDS LIFTING DEFICIT REGIME FOR ROMANIA, LITHUANIA
  • EU RECOMMENDS LIFTING EXCESSIVE-DEFICIT REGIME FOR ITALY
  • EU SAYS 20 STATES CURRENTLY UNDER EXCESSIVE-DEFICIT PROCEDURES
  • Translation: the theatrical spectacle of Europe’s austerity, which never really took place, is finally over. Going forward political incompetence will henceforth be known as just that: incompetence, and elected rulers will not be able to pass the buck to evil, evil, “austerity.” More importantly, Europe has also proven without a doubt, that any “structural adjustments” on the continent are impossible, and that governments are locked in a spend till you drop mode.
  • For Europe’s sake, it better find a sake of endogenous credit creation once the BOJ’s carry trade fueled mask of all that is wrong with Europe fades away. Alas, following yet another painful M3 report, and an intractable ECB which refuses to monetize de novo and unsterilized (and simply can’t “lack of fiscal union” reasons previously explained), where such credit creation will come from is unknown.

Meanwhile, Big Investors Quietly Slip Out The Back Door On Housing As “Stupid Money” Jumps In

The big real estate pump and dump, investment companies come in and pump the market up, then sell to the stupid individuals who think the market is rising and getting better.

  • Last September, one of the original institutional investors in the housing-to-rent strategy, multi-billion hedge fund Och-Ziff called it quits on the landlord business. The reason: “the New York-based hedge fund is looking to sell now because the returns it is generating from rental income are less than expected and it is looking to take advantage of a recent rebound in home prices in northern California.” As a reminder, the REO-to-Rental subsidized investment program, which led to an epic surge in demand for multi-family housing, i.e., rental, units was, together with offshore investors parking their cash in the US for safekeeping (taking advantage of the NAR’s anti-money laundering check exemptions) and the big banks Foreclosure Stuffing, the key reason for the recent, stimulus-fueled and quite transitory bounce in house prices in assorted markets.
  • Still, OZ’s exit of the business did not spook too many of the other remaining investors who simply had no better investment options, and in a world of POMO and FOMO, they saw no choice but to become ever bigger landlords.
  • Today, another one of the original “big boys” has called it curtains: “We just don’t see the returns there that are adequate to incentivize us to continue to invest”, according to the CEO Bruce Rose of Carrington, one of the first investors to use deep institutional pockets (in this case a $450 million investment from OakTree) and BTFHousingD.
  • Rose’s assessment of the market? “There’s a lot of — bluntly — stupid money that jumped into the trade without any infrastructure, without any real capabilities and a kind of build-it-as-you-go mentality that we think is somewhat irresponsible.”
  • Of course, one can say exactly the same thing about virtually every other market where those gambling with “other people’s money” have no choice but to ride the tide and dance as long as the music emanating from the Fed is playing. However, it is rare to see one (technically, another) voluntarily step out even as others are still locked into a market where the returns are no longer worth the effort.
  • One such gambler is Blackstone:

Shadowstats.com

Unemployment
Government (modified calculation) 7.5%
Shadow Stats 23%

Inflation
Government (modified calculation) 1%
Shadow Stats 5%

GDP
Government (modified calculation) 2%
Shadow Stats -2%


War

WAR DRUM: Israel preps for Ballistic-Missile Attack. Russian Warplanes Go on 24-Hour Duty in Snap Alert Drill

As you can see the war provoking is continuing, the central bankers and government would like Syria, Iran or Russia to do something so they can start the war. They don’t care who it is as long it starts to hide this colossal collapse

  • Israel warns of action over Russian plan to give missiles to Syria’s Assad
  • A senior Israeli defense official warned on Tuesday that Russia’s plan to send sophisticated anti-aircraft weapons systems to Syria’s President Bashar Assad was a “threat” and signaled Israel could take some form of unspecified action in response.
  • Israeli civil defense drill prepares for ballistic missile attack
  • TEL AVIV — Israel has launched a major civil defense exercise. Officials said the exercise, dubbed “Steadfast Home Front-1, was meant to simulate a ballistic missile attack on Israel.
  • The officials said the exercise, part of a multi-year defense plan, also tested interoperability by the military, Defense Ministry, other ministries and local authorities.
  • “Israel is the most threatened state in the world; it is under missile and rocket threat,” Israeli Prime Minister Benjamin Netanyahu said.
  • The exercise, which began on May 26, was the seventh edition of the annual civil defense drill. Officials said the latest exercise, scheduled to end on May 29, was meant to prepare military and civil authorities for a chemical or nuclear attack.
  • Russian Warplanes Go on 24-Hour Duty in Snap Alert Drill
  • MOSCOW, May 28 (RIA Novosti) – MiG-31 Foxhound interceptors are going on round-the-clock duty in northern Russia as part of a snap combat readiness check of the nation’s aerospace defense capabilities, the Defense Ministry said Tuesday.
  • The fighters, “in conjunction with A-50 airborne warning and control system aircraft, are performing continuous missions to protect the airspace, including from cruise missile strikes,” the ministry said in a statement. The aircraft are to be refueled while still in the air.

Commander in Chief John McCain Commits the US to World War III

 Why The Next War With China Could Go Very Badly For The United States

  • Most Americans assume that the U.S. military is so vastly superior to everyone else that no other nation would ever dream of fighting a full-scale war against us. Unfortunately, that assumption is dead wrong. In recent years, the once mammoth technological gap between the U.S. military and the Chinese military has been closing at a frightening pace. China has been accomplishing this by brazenly stealing our technology and hacking into our computer systems. The Pentagon and the Obama administration know all about this, but they don’t do anything about it. Perhaps the fact that China owns about a trillion dollars of our national debt has something to do with that. In any event, today China has the largest military in the world and the second largest military budget in the world. They have stolen plans for our most advanced jets, helicopters, ships and missile systems. It is estimated that stealing our technology has saved China about 25 years of research and development. In addition, China is rapidly developing a new generation of strategic weapons that could potentially enable it to actually win a future war against the United States. At one time such a notion would have been unthinkable, but as you will see below, the next war with China could go very badly for the United States.
  • The Washington Post is reporting on a confidential report that was prepared for the Pentagon, and what this report says about the extent of Chinese cyber espionage is absolutely startling. Will China know ALL of our secrets at some point? The following is a brief excerpt from the Washington Post articleabout the theft of our military technology by China. It turns out that Chinese hackers have gotten their hands on plans for almost all of the new cutting edge weapons systems that we have been developing…
  • Some of the weapons form the backbone of the Pentagon’s regional missile defense for Asia, Europe and the Persian Gulf. The designs included those for the advanced Patriot missile system, known as PAC-3; an Army system for shooting down ballistic missiles, known as the Terminal High Altitude Area Defense, or THAAD; and the Navy’s Aegis ballistic-missile defense system.
  • Also identified in the report are vital combat aircraft and ships, including the F/A-18 fighter jet, the V-22 Osprey, the Black Hawk helicopter and the Navy’s new Littoral Combat Ship, which is designed to patrol waters close to shore.
  • Also on the list is the most expensive weapons system ever built — the F-35 Joint Strike Fighter, which is on track to cost about $1.4 trillion.

Gun Control

Carroll County Nullifies Maryland Gun Control Legislation With 2nd Amendment Preservation Act

  • Carroll County Nullifies Maryland Gun Control Legislation With 2nd Amendment Preservation Act
  • May 28th, 2013 by ASERAG.
  • In a victory for Maryland concealed carry, open carry, and gun Rights, Carroll County has passed resolution 884-2013, a Second Amendment Preservation Act.
  • “The Board reasonably believes the MFSA to be “pretended” (unconstitutional) legislation and be it further resolved that the Board, in affirmation of the Second Amendment rights of the citizens of Carroll County, herein direct that Carroll County Government will not authorize or appropriate government funds, resources, employees, agencies, contractors, buildings, detention centers or offices for the purpose of enforcing any element of the MFSA that infringes on the right of the people to keep and bear arms” [Source Legislation]
  • Two other counties, Cecil and Hartford, have also joined Carroll County, Maryland, in nullifying new Maryland gun control legislation, which:
  • Bans 45 types of Rifles
  • Bans magazines carrying more than 10 bullets, criminalizes the utilization of said magazines already owned
  • Deputizes doctors against patients, encourages reporting of gun owners to government, prohbits ownership of guns by “mentally ill” deemed so by the State
  • Requires fingerprinting for new handgun purchases
  • Requires licensing and training for new handgun purchases
  • “What country can preserve its liberties if its rulers are not warned
  • from time to time that their people preserve the spirit of resistance?” -Thomas Jefferson
  • The Right to bear arms is the fabric upon which other Rights find their peace and defense.
  • An individual must be able to defend his own life to exist, thus, the Right to bear arms is self-evident, accompanying your existence.

Police State

Scotland to Impose “State Guardian” on every child – YOU DO NOT OWN YOUR CHILDREN!

We are seeing this played out in many countries where the government is telling everyone that your children are not yours they are part of the system

  • Every child in Scotland is to be assigned a “state minder” from birth under draconian new proposals that would enable the government to spy on families under the justification of preventing “child abuse”.
  • Writing in the Scotsman of how he penned a dystopian novel based around this very scenario of every child being assigned a government mentor, sociology and criminology lecturer at the University of Abertay Dundee Stuart Walton writes, “Unfortunately, this dystopian future has arrived a little faster than I imagined, as last week the Scottish Government’s plan to give every child a state guardian from birth was launched.”
  • “This state-appointed overseer will be a specific, named individual, and every child will have one, from birth. The responsibility for creating this named guardian will fall on the heads of the health boards for the first five years of a child’s life, before being transferred to councils.”
  • The program is a statutory initiative built into the Children and Young People Bill. Children’s minister Aileen Campbell justified the proposal by asserting it would “make sure there is someone having an overview of what is happening to that child, to make sure that early indicators of anything that would pose a threat or risk to that child are flagged up”.

False Flag

 Suspect confesses to French soldier stabbing, probably acted on ‘religious ideology’

  • French police on Wednesday arrested a suspect in the weekend assault on French soldier Cedric Cordiez, who was stabbed in the neck on Saturday evening while on patrol with two colleagues, Paris prosecutor Xavier Molins said.
  • Molins said the suspected assailant, named Alexandre, who turns 22 on Thursday, has been described as a follower of “radical Islam.” He was known to police after undergoing an identity check in 2007 for praying on the street, AFP reported.
  • “The suspected perpetrator of the attack on a soldier Saturday evening in La Defense (business district) was arrested this morning,” Interior Minister Manuel Valls said in a statement.
  • The report said the suspect was arrested in the Yvelines district on the western outskirts of Paris.
  • Sources close to the investigation said the man has been a follower of a “traditionalist even radical Islam for the last three or four years,” according to France 24.
  • The sources, however, urged caution in an investigation that is still in its early stages, saying the suspect was not known to be a jihadist.
  • Cordiez was released from a military hospital on Monday and had rejoined his unit, military officials said.

Kokesh cancelled march on Washington but wants everyone to march on all state capitals with or without loaded weapons.


Other News

Increasing Your Odds of Survival

  • Today, most Americans believe that the United States is on the verge of a total economic collapse and will soon be entering another Great Depression. The government believes it as well. However, unlike most Americans, the government is prepared as evidenced by DHS and their recently purchased 2.2 billion rounds of ammunition and 2700 armored personnel carriers.
  • Only a small percentage of the people are prepared for what is about to happen. Just what does it take to be prepared? How much of this and how much of that, are questions that many preppers ask. Unfortunately, most Americans are not asking any questions at all. Most of these ignorant people will be among the first to die.
  • Water
  • Most people can survive for a number of weeks without food, but without water you will die in just a few days.
  • Subsequently, where would you procure water if your taps run dry? If you do not have a plan, this would most likely be the most likely cause of death? Do you have an abundant supply of clean water near your home? Do you have the ability to boil water if you needed to purify it? Gathering water is your number one concern. Do you have a swimming pool? If you are one of the few that has a swimming pool, you need to be able to defend the water because your house will be a target.
  • Water purification tablets are critical because the water you have access to in a crisis, may not be suitable for drinking. So you may find that water purification tablets and a water filter will prove immeasurably important.
  • Food
  • Most families could not last longer than a month on what they have in their house right now. When the economic collapse comes, how long could you survive on what you have?
  • You need to start growing food right now. Having your own garden, both in and out of your house is critically important, for if you don’t, when your family runs out of food, you will suddenly find yourselves competing with the desperate mobs of hungry people who are looting the stores and roaming the streets looking for victims in order to steal their food.
  • Begin to store food, now! Store seeds and plants now. Seeds will be the first item to disappear. So, begin to gather them now. Of course, if you are hungry, the government would be happy to take you to a safe refuge, a FEMA Camp. The question is, will you come out alive?
  • Avoid Roads Like the Plague
  • Highways will become death traps as they will be targeted by bad guys, many of who will don military and police uniforms in order lure in unsuspecting people. To a starving and thirsty gang, there is not a better target than a passenger vehicle, a truck or better yet, and RV loaded down with stored food and ammunition.
  • If you have a bug out location, plan to leave the very moment that the event happens and get to where you want to be within 72 hours. Once the trouble starts, do not attempt to travel. The government, and the gangsters are equally dangerous during this time.
  • Military strategy documents all advise that when governments fail, roads are to be avoided at all costs.

German Finance Minister Schaeuble Warns of Revolution

With so many youths not working and going hungry in many countries a revolution is unavoidable

  • Let the austerity backlash begin. Who knew that an excel error could cause so much social strife. Granted common sense would have got you there, but this is politics. German Finance Minister Schaeuble warned on Tuesday that unless Europe wins the battle against youth unemployment, revolution is a distinct possibility.
  • The dreaded r-word came about as some corners push to reform the welfare standards to closely correlate with American standards. This would be a monumental mistake according the German finance minister. Youth unemployment as it stands now across the EU is at 25%, double the rate of older citizens.
  • Eu countries such as Germany, Italy and France are backing urgent action to tackle the issue before it becomes even more systemic than it already is. Anecdotes out of Spain have college graduates turning 30 without ever having a job. The problem is definitely have a social spillover as evidenced by the riots in Stockholm.
  • Labor ministers out of Italy are saying that they have the best educated generation and policies are essentially putting their future on hold. Schaeuble told a conference that if US welfare standards were enacted in the EU, the revolution would start the same day. It is completely untenable to adopt that set of rules.
  • Granted the youth unemployment picture here stateside is not exactly the best. Most of the job creation in recent months have gone to the older populace with the younger generation looking more and more like a carbon copy of an EU nation.
  • The solutions to the problem are not known, but the central banks willingness to continue the QE policies that have failed to generate any real job growth. If you broke down the amount injected by QE and applied it on a per job it works out to $500k per job created. Enough to give a person a 50k a year salary for ten years. Which is the better model, Dow 15k or systemic unemployment? Not really a trick question

Make my own bread

Here are the ingredients I use to make my own bread

Water
Organic Whole Wheat flour
butter
salt
Agave
Yeast

If you take a look at the packaging of bread you can see they add a lot of chemicals to the bread itself. So it really isn’t bread. These chemicals make people gain weight, makes them sick.

I have cut out all the foods with chemicals and my wife and children hardly ever get sick, we have more energy and we don’t have that chemical altered body, you know overweight.