by Michael Snyder
Are you ready for what is coming in August?
All over America, economic, political and social tensions are building, and the next 30 days could turn out to be pivotal. In July, we saw things start to turn.
As you will read about below, a major six year trendline for the S&P 500 was finally broken this month, Chinese stocks crashed, commodities crashed, and debt problems started erupting all over the planet.
I fully expect that this next month (August) will be a month of transition as we enter an extremely chaotic time in the fall and winter.
Things are unfolding in textbook fashion for another major global financial crisis in the months ahead, and yet most people refuse to see what is happening. In their blind optimism, they want to believe that things will somehow be different this time.
Well, the coming months will definitely reveal who was right and who was wrong.
The following are 11 red flag events that just happened as we enter the pivotal month of August 2015…
And in this list I didn't even mention the economic chaos that is happening down in South America.
To a certain extent, I can understand why most Americans are not alarmed about the months ahead.
The relative stability of the past several years has lulled most of us into a false sense of security, and the mainstream media is assuring everyone that everything is going to be just fine and that brighter days are ahead.
At this point, many believe that it is patently absurd to suggest that we could see an economic collapse in 2015. But of course even though the signs were glaringly apparent, very few of us anticipated the financial crisis of 2008 either.
A few weeks ago, I authored a piece entitled "The Last Days of 'Normal Life' in America", and I stand by every single word of that article. I truly believe that the era of debt-fueled prosperity that we have been enjoying for so long is coming to an end, and our standard of living will never again get back to this level.
Just yesterday, I had the chance to go over and stock up on some emergency supplies at a dollar store. It always astounds me what you can still buy for a dollar.
The combined cost of raw materials, manufacturing, packaging, shipping and retailing most of these items shouldn't be less than a dollar, but thanks to having the reserve currency of the world we are still able to go to these big box stores and fill up our carts with lots and lots of extremely inexpensive merchandise.
Unfortunately, this massively inflated standard of living is going to come crashing to a halt. This next financial crisis is going to destroy the system that is currently producing such comfortable lifestyles for the vast majority of us, and that will be an extremely painful experience.
So enjoy this summer for as long as it lasts. Even though August threatens to be pivotal, it is going to be nothing compared to what will follow.
Fall and winter are coming...