Home > Man-Made Disasters > ‘Financial Armageddon’: Legendary Investor Warns Americans To Prepare For Stock Market Crash Within Weeks

‘Financial Armageddon’: Legendary Investor Warns Americans To Prepare For Stock Market Crash Within Weeks


By Terry Weiss – “In a riveting interview on CNBC, legendary investor Jim Rogers warned Americans to prepare for ‘Financial Armageddon,’ saying he fully expects the economy to implode after the U.S. election.

Rogers, who for years has been an outspoken critic of the Feds policies of ‘Quantitative Easing,’ says the world is ‘drowning in too much debt.’ He put the blame squarely on U.S. and European governments for abusing their ‘license to print money.’ In the U.S. alone, the national debt has surged to nearly $16 trillion, that’s more than $50,000 for every American man, woman and child.

‘[They] need to stop spending money they don’t have,’ Rogers said. ‘The solution to too much debt is not more debt… What would make me very excited is if a few people [in the government] went bankrupt…’ Rogers added.

Rogers also charged Obama and German Chancellor Angela Merkel with promoting dangerous policies that create the illusion the economy is stable… but are really only intended to buy time before their upcoming elections.” Read more.

Market Crash ‘Could Hit Within Weeks’, Warn Bankers – “Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group’s implosion nearly three years ago. Credit default swaps on the bonds of Royal Bank of Scotland, BNP Paribas, Deutsche Bank and Intesa Sanpaolo, among others, flashed warning signals on Wednesday. Credit default swaps (CDS) on RBS were trading at 343.54 basis points, meaning the annual cost to insure £10m of the state-backed lender’s bonds against default is now £343,540.” Read more.

Australia Headed for Disaster Zone – “Real estate agents in Australia who assured everyone for years there was no housing bubble and home prices would only ever go up because there was a “shortage of houses” are now telling everyone who is stuck in a house they cannot afford that they have prices too high. What this means of course is real estate agents are selling few homes, thus making little in commissions so they need prices to come down. What the agents don’t realize is this is the beginning of a trend and home prices, some drastically reduced already, still have much further to fall.” Read more.

On The Verge Of Major Financial Chaos On a Global Scale, Investors Nervous – “Is the stock market going to crash by the end of this year? Are we on the verge of major financial chaos on a global scale? Well, this is the time of the year when investors start getting nervous. We all remember what happened during the fall of 1929, the fall of 1987 and the fall of 2008. However, it is important to keep in mind that we do not see a stock market crash in the fall of every year. Some years the stock market cruises through the months of September, October, November and December without any problems whatsoever. But this year conditions certainly seem to be right for a “perfect storm” to develop.” Read more.

Peter Schiff: ‘We’re Headed For A Real Economic Collapse … The Party Is Over … Will Make 2008 Look Like A Walk In The Park’

Categories: Man-Made Disasters
  1. 08/30/2012 at 12:09 AM

    Wow.
    Are we even ready spiritualy?
    Great update.
    Thanks,
    C.C.T.

    Like

  2. 08/30/2012 at 12:38 AM

    where do we put our money if not the stock market?

    Like

  3. Willard
    08/30/2012 at 1:52 PM

    Mt 6:19 “Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal.
    Mt 6:20 But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal.
    Mt 6:21 For where your treasure is, there your heart will be also

    Like

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