US Action News

Economic activity and lending are slowing down all over the planet, and fear is starting to paralyze the entire global financial system.

The nightmares that we are seeing unfold in Spain and Greece right now are just a preview of what is coming to most of the rest of the world. The next wave of the economic crisis will soon envelop the United States, Japan and the rest of Europe.

[I]t warned that the world remains at risk of collapsing into a slump that would rival the Great Depression – with ‘acute risks in Europe’ the major threat. – Mail Online

Hope is not an option. There is too much debt, too little cash-flow, too many promises, too many lies, too little common sense, too much mass delusion, too much corruption, too little trust, too much hate, too many weapons in the hands of too many crazies, and too few visionary leaders to not create an epic worldwide implosion.- The Burning Platform

Studies show that historically, around 90% of US recessions post World War II were preceded by oil price shocks. The most recent occurrence took place when oil more than doubled in price from January 2007 to July 2008 due to a sharp increase in Chinese demand. The pullback of US consumer and corporate spending already put a drag on economic growth before the subprime-induced financial crisis closed the deal on the Great Recession.

“It looks odds-on that eurozone GDP contracted again in the first quarter of 2012, thereby moving into recession,” said Howard Archer, chief European economist at IHS Global Insight. – BBC News

The U.S. will not be immune to the downward pressures. In the weakening global environment, exports will drop. Consumers have increased spending by reducing their savings rate as wages continue to stagnate.

She never mentioned Germany and the US by name, but those were her prime targets. “It is about avoiding a 1930s moment,” she said at the German Council of Foreign Affairs in Berlin, “a moment, ultimately, leading to a downward spiral that could engulf the entire world.” – Testosterone Pit

The vast majority of people out there only believe what they want to believe. They don’t want to believe that a great economic crisis is coming, and so when it does happen they are going to be absolutely blindsided by it.

All indications point to 2012 being a turning point year of unrelenting economic crisis spreading outward from Europe and the US to Asia and its dependencies in Africa and Latin America . The crisis will be truly global. – Global Research