Michael Snyder: Prophets Of Doom-The Economic Crisis Ahead!

We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping. All across the western world, governments and major banks are rapidly becoming insolvent. S far, the powers that be are keeping all the balls in the air by throwing around lots of bailout money, but now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day. Right now the western world is facing a debt crisis that is absolutely unprecedented in world history. Europe has had a tremendously difficult time just trying to keep Greece afloat, and several much larger European countries are now on the verge of a major financial crisis. In addition, there is a growing number of very large financial institutions all over the western world that are also rapidly approaching a day of reckoning. The global financial system is a sea of red ink, and when we get to the point where there are hundreds of ships going under, how is it going to be possible to bail all of them out? The quotes that you are about to read show that quite a few top financial and political insiders know that things cannot hold together much longer, and that a horrific economic crisis is coming. We built the global financial system on a foundation of debt, leverage and risk, and now this house of cards that we have created is about to come tumbling down. A lot of people in politics and the financial world know what is about to happen. Once in a while, they will even be quite candid about it with the media. As I have written previously, Europe is on the verge of a financial collapse. If things go really badly, things could totally fall apart in a few weeks, but more likely, it will be a few months until the juggling act ends.