This Is What A Financial Crisis Looks Like - MICHAEL SNYDER THE ECONOMIC COLLAPSE BLOG

This Is What A Financial Crisis Looks Like

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Posted: 14 Dec 2015      MICHAEL SNYDER       THE ECONOMIC COLLAPSE BLOG Just within the past few days, three major high yield funds have completely imploded, and panic is spreading rapidly on Wall Street.  Funds run by Third Avenue Management and Stone Lion Capital Partners have suspended payments to investors, and a fund run by Lucidus Capital Partners has liquidated its entire portfolio.  We are witnessing a race for the exits unlike anything that we have seen since the great financial crash of 2008, and many of those that choose to hesitate are going to end up getting totally wiped out. In case you are wondering, this is what a financial crisis looks like.  In 2008, other global stock markets started to tumble, then junk bonds began to crash, and finally U.S. stocks followed.  The exact same pattern is playing out again, and the carnage that we have seen so far is just the tip of the iceberg. Since the end of 2009, a high yield bond ETF that I watch very closely known as JNK has been trading in a range between 36 and 42.  I have been waiting all this time for it to dip below 35, because I knew that would be a sign that the next major financial crisis was imminent. In September, it closed as low as 35.33 at one point, but that was not the signal that I was looking for.  Finally, early last week JNK broke below 35 for the very first time since the last financial crisis, and since then it has just kept on falling.  As I write this, JNK has plummeted all the way to 33.42, and Bloomberg is reporting that many bond managers “are predicting more carnage for high-yield investors”… Top bond managers are predicting more carnage for high-yield investors amid a market rout that forced at least three credit funds in the past week to wind down. Lucidus Capital Partners, a high-yield fund founded in 2009 by former employees of Bruce Kovner’s Caxton Associates, said Monday it has liquidated its entire portfolio and plans to return the $900 million it has under management to investors next month. Funds run by Third Avenue Management and Stone Lion Capital Partners have stopped returning cash to investors, after clients sought to pull too much money. When it says that those firms “have stopped returning cash to investors”, what that means is that many of those investors will be lucky to get pennies on the dollar when it is all said and done. Like I said, now that the crisis has started, the ones that are going to lose the most are those that hesitate. And just check out some of the very big names that are “warning of more high-yield trouble ahead”… Scott Minerd, global chief investment officer at Guggenheim Partners, predicts 10 percent to 15 percent of junk bond funds may face high withdrawals as more investors worry about getting their money back. He joins money managers Jeffrey Gundlach, Carl Icahn, Bill Gross and Wilbur Ross in warning of more high-yield trouble ahead. In this type of environment, the Federal Reserve would have to be completely insane to raise interest rates. Unfortunately, that appears to be exactly what is going to happen. If the Fed raises rates, that is going to make corporate debt defaults even more likely and will almost certainly drive high-yield bonds down even further… Higher rates could make corporate bond defaults more likely and investors are already bailing out of the sector, pulling $3.8 billion out of high-yield funds in the week ended December 9, the biggest move in 15 weeks. The effective yield on U.S. junk bonds is now 17 percent, the highest level in five years, according to Bank of America Merrill Lynch data. A whole host of prominent names are warning that the Fed is about to make a tragic mistake.  One of them is James Rickards… “The Fed should have raised interest rates in 2010 and 2011 and if they did that they would actually be in a position to cut them today,” said James Rickards, a central bank critic and chief global strategist at West Shore Funds. “The Fed is on the brink of committing a historic blunder that may rank with the mistakes it made in 1927 and 1929. By raising into weakness, they will likely cause a recession.” In 2015, we have already seen stocks crash all over the globe.  Coming into December, more than half of the 93 largest stock market indexes in the world were down more than 10 percent year to date, and some of them were down by as much as 30 or 40 percent.  At this point, conditions are absolutely perfect for a frightening collapse of U.S. markets, and the Federal Reserve is about to pour gasoline on to the fire. Anyone that says that “nothing is happening” is either completely misinformed or is totally crazy. I like how James Howard Kunstler summarized what we are currently facing… Equities barfed nearly four percent just last week, credit is crumbling (nobody wants to lend), junk bonds are tanking (as defaults loom), currencies all around the world are crashing, hedge funds can’t give investors their money back, “liquidity” is AWOL (no buyers for janky securities), commodities are in freefall, oil is going so deep into the sub-basement of value that the industry may never recover, international trade is evaporating, the president is doing everything possible in Syria to start World War Three, and the monster called globalism is lying in its coffin with a stake pointed over its heart. The financial markets held together far longer than many people thought that they would, but now they are finally coming apart at the seams. Moving forward, the “winners” are going to be the people that pull their money out the fastest.  This is especially true for high risk funds like the three that just imploded.  If you hesitate, you could end up losing everything. And as this rush for the exits accelerates, sellers are going to greatly outnumber buyers, and this is going to push prices down at a very rapid pace. We are going to hear a lot about a “lack of liquidity” in the days ahead, but the truth is that what we will really be looking at is a good old-fashioned panic.

December 14th To 18th: A Week Of Reckoning For Global Stocks If The Fed Hikes Interest Rates? - Michael Synder - THE ECONOMIC COLLAPSE BLOG

December 14th To 18th: A Week Of Reckoning For Global Stocks If The Fed Hikes Interest Rates? Posted: 13 Dec 2015 Michael Synder - THE ECONOMIC COLLAPSE BLOG Are we about to witness widespread panic in the global financial marketplace?  This week is shaping up to be an absolutely critical week for global stocks.  Coming into December, more than half of the 93 largest stock market indexes in the world were down more than 10 percent year to date, and last week stocks really started to slide all over the world.  Here in the United States, the Dow Jones Industrial Average is down about 600 points over the past week or so, and at this point it is down more than 1000 points from the peak of the market.  That brings us to this week, during which the Federal Reserve is expected to raise interest rates for the very first time since the last financial crisis.  If that happens, that could potentially be enough to accelerate this “slide” into a full-blown crash. And just look at what is already happening.  Trading for stocks in the Middle East has opened for the week, and we are already witnessing tremendous carnage… Following Friday’s further freefall in crude oil prices, The Middle East is opening down notably. Abu Dhabi, Saudi, and Kuwait are lower; Israel is weak and UAE and Qatar are tumbling, but Dubai is worst for now.  Dubai is down for the 6th day in a row (dropping over 3% – the most in a month) extending the opening losses to 2-year lows. The 11% drop in the last 6 days is the largest since the post-China-devaluation global stock collapse. Leading the losses are financial and property firms. Things in Asia look very troubling as well.  As I write this, the Japanese market has just opened, and the Nikkei is already down 508 points. In recent days I have been explaining to my readers how everything is lining up in textbook fashion for another major market crash.  In particular, the implosion of junk bonds is a major red flag.  Late last week, Third Avenue Management shocked Wall Street by freezing withdrawals from a 788 million dollar credit mutual fund.  The following comes from Bloomberg… A day after a prominent Wall Street firm shocked investors by freezing withdrawals from a credit mutual fund, things only got nastier in the junk-bond market. Prices on the high-risk securities sank to levels not seen in six years and, to add to the growing sense of alarm, billionaire investor Carl Icahn said the selloff is only starting. “The meltdown in High Yield is just beginning,” Icahn, who’s been betting against the high-yield market, wrote on his verified Twitter account Friday. Icahn’s comments come as junk-bond investors, already stung by the worst losses since 2008, are the most nervous they’ve been in three years after Third Avenue Management took the rare step of freezing withdrawals from a $788 million credit mutual fund. What Third Avenue Management just did was absolutely huge.  Now investors that have money in any similar funds are going to be racing to get it out.  We could be on the verge of a run on bond funds that is absolutely unprecedented.  This is so obvious that even CNBC’s Jim Cramer is sounding the alarm… Friday was a day where Cramer’s ears were burning with concern because of the troubles discovered with a high yield bond fund run by Third Avenue Management. It decided to bar investors from getting their money out of its Focused Credit Fund, because it could not meet demands to get cash back to them in an orderly way. This was significant because when it tries to sell the bonds needed to satisfy these orders for redemptions, it could destroy the high yield bond marketbecause there are no buyers anywhere near the amount that they want to sell. “I cannot emphasize enough just how disconcerting this move is,” Cramer said. I know that for the ordinary person on the street, all of this sounds very complicated. But it basically comes down to this – anyone that has a lot of money invested in these bond funds is in danger of getting totally wiped out. In a situation like this, it is those that are “first out the door” that come out as the winners.  I like how Wolf Richter explained what we are currently facing… It works like this: When an “open-end” bond fund starts losing money, investors begin to sell it. Fund managers first use all available cash to pay investors. When the cash is gone, they sell the most liquid securities that haven’t lost much money yet, such as Treasuries. When they’re gone, they sell the most liquid corporate paper. As they go down the line, they sell bonds that have already lost a lot of value. By now the smart money is betting against the fund, having figured out what’s happening. They’re shorting the very bonds these folks are trying to sell. The longer this goes on, the more money investors lose and the more spooked they get. It turns into a run. And people who still have that fund in their retirement account are getting cleaned out. Bond funds can be treacherous – especially if they hold dubious paper, which is never dubious until it suddenly is. And when they get in trouble, you want to be among the first out the door. I would anticipate that we will see more junk bond carnage this week – especially if the Fed raises rates. And as I have discussed previously, a stock crash almost always follows a junk bond crash.  If the Fed does raise rates this week and stocks do start falling significantly, one key day to watch will be Friday.  JPM’s head quant Marko Kolanovic has warned that “the largest option expiry in many years” will happen on that day… This important event falls at a peculiar time—less than 48 hours before the largest option expiry in many years. There are $1.1 trillion of S&P 500 options expiring on Friday morning. $670Bn of these are puts, of which $215Bn are struck relatively close below the market level, between 1900 and 2050. Clients are net long these puts and will likely hold onto them through the event and until expiry. At the time of the Fed announcement, these put options will essentially look like a massive stop loss order under the market. A perfect storm for stocks is brewing, and this week could potentially be one of the most chaotic that we have seen in a very long time. But of course the Federal Reserve could decide to surprise us all by not raising rates, and that would change things substantially. So what do you think will happen this week? Please feel free to share your thoughts by posting a comment below…

The Elite Have Prepared for the Coming Collapse–Have You? - CHARISMA NEWS

The New York Stock Exchange on a day of trading. (Reuters)

The Elite Have Prepared for the Coming Collapse–Have You?

 9/16/2015 MICHAEL SNYDER  charisma news

Why are the global elite buying extremely remote compounds that come with their own private airstrips in the middle of nowhere on the other side of the planet? And why did they start dumping stocks like crazy earlier this year? Do they know something that the rest of us don't?

The things that I am about to share with you are quite alarming. It appears that the global elite have a really good idea of what is coming, and they have already taken substantial steps to prepare for it. Sadly, most of the general population is absolutely clueless about the financial collapse that is about to take place, and thus most of them will be completely blindsided by it.

As I discussed the other day, the only way that you make money in the stock market is if you get out in time. The elite understand this very well, and that is why they have been dumping stocks for months. This is something that has even been reported in the mainstream news. For example, this comes from a CNBC article that was published on June 16:

The so-called smart money is pulling back from market risk, with fund managers taking down exposure to stocks, increasing cash holdings and buying protection against a sharp selloff.

About two weeks before that, I discussed the same phenomenon on my website. The article that I published on May 30 was titled "Why Is the Smart Money Suddenly Getting Out of Stocks and Real Estate?"

Did the "smart money" know what was about to happen? Since the peak of the market, the Dow has already lost more than 2200 points. All of the gains since the end of the 2013 calendar year have already been completely wiped out.

And of course the truth is you didn't really need any inside information to see that it was time to get out. I have been warning my readers for months about what is coming. The signs have been clear as a bell if you were willing to look at them. Just consider the following excerpt from a recent piece by Michael Pento:

Earlier in the year margin debt had risen over $30 billion or 6.5 percent to $507 billion and was equal to a record 2.87 percent of U.S. GDP. This surpasses the previous all-time high of 2.78 percent set in March 2000—the top of the last largest stock market bubble in history.

And despite the assurance of every mutual fund manager on TV that they have boatloads of cash ready to deploy at these "discounted" levels, in early August cash levels at mutual funds sank to their lowest level in history, 3.2 percent (see chart below). As a percentage of stock market capitalization, fund cash levels are also nearing the record low set in 2000 when the NASDAQ peaked and subsequently crashed by around 80 percent.

The financial markets are absolutely primed for a major crash, and when that happens, many among the elite will be hightailing it to the middle of nowhere.

Earlier this year, the Mirror published an article all about this titled "Panicked super rich buying boltholes with private airstrips to escape if poor rise up." Here is a brief excerpt:

Robert Johnson, president of the Institute of New Economic Thinking, told people at the World Economic Forum in Davos that many hedge fund managers were already planning their escapes.

He said: "I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway."

Keep in mind that these are not just some rumors that Robert Johnson has heard. These are people that he knows personally and that he interacts with regularly.

And Robert Johnson was not alone in this assessment. Here is more from the Mirror:

His comments were backed up by Stewart Wallis, executive director of the New Economics Foundation, who when asked about the comments told CNBC Africa: "Getaway cars, the airstrips in New Zealand and all that sort of thing, so basically a way to get off.

"If they can get off, onto another planet, some of them would."

For some reason, the global elite seem to have a particular affinity for New Zealand. Perhaps it is because of the great natural beauty of the nation combined with the fact that it is in the middle of nowhere. The following comes from the Daily Mail:

New Zealand, which is about the size of the U.K., but has a population of just 4.4 million, offers them all the modern luxuries they have come to expect—but miles from any country which may implode into chaos.

The country is 11,658 miles away from the U.K., while its closest neighbor is Fiji—1,612 miles away, more than double the distance between Lands End and John O'Groats.

Homes at the top end of the market come with tennis courts, swimming pools and media rooms—and some even boast their own personal jetties where a family can moor their boat.

But the icing on the cake for those looking to make a quick escape comes in the form of private helipads or, better, your own airstrip.

For most of us, buying a luxury bolthole with a private airstrip in New Zealand is not a possibility.

But we should all be getting prepared.

I have a contact in the food industry that has told me that her company's sales have "been through the roof" over the past 10 days as people stock up for what is coming. In fact, she even used the word "panic" to describe what was happening.

And Americans have been buying a record number of guns as well:

Newly released August records show that the FBI posted 1.7 million background checks required of gun purchasers at federally licensed dealers, the highest number recorded in any August since gun checks began in 1998. The numbers follow new monthly highs for June (1.5 million) and July (1.6 million), a period which spans a series of deadly gun attacks—from Charleston to Roanoke—and proposals for additional firearm legislation.

For a very long time, I have been warning my readers to get prepared.

Well, now we are getting so close that panic is starting to set in.

Hopefully you are already well prepared for what is about to happen. If not, you need to kick your prepping into overdrive.

These next few months are going to change everything. Get ready while you still can.

Michael T. Snyder is the publisher of The Economic Collapse Blog and author of The Beginning of the End.

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Cindy Jacobs Addresses Fearful Prophecies Over America - JENNIFER LECLAIRE

Cindy Jacobs (Facebook)

Cindy Jacobs Addresses Fearful Prophecies Over America

 9/8/2015 JENNIFER LECLAIRE  charisma news

With several months of the year of the whirlwind before us, how should we position ourselves amid the doom and gloom? That's a good question—and one I've been pondering more and more lately. In fact, I've discussed it with many prophets and prophetic people in the last couple of weeks—and I've prayed plenty.

Should we store up three years worth of food? Take all of our money out of the bank? Hide in a cave, praying for the best but believing the worst? Leave the country? What should be our response? I, for one, refuse to let a spirit of fear over take me, despite all the doom and gloom prophecies.

Cindy Jacobs, co-founder of Generals International, says first of all we are to obey the admonition from Scripture to not give in to fear. She is convinced the enemy wants to stir up panic and distress. But she is also convinced we have to stand firm, trusting God's faithfulness.

"I want to share with you what I am hearing prophetically at this moment. On a global level, God is changing the landscape of financial power. Some nations are going to find that their 'cash cows'—the commodities that have propped up their ideologies—are diminishing or being taken away. This will even begin to affect the terrorist organization, ISIS," Jacobs says.

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"Is there going to be a total collapse such as we saw in 2008? If there is, I do not have a word about that. In past economic shakings, I have known in advance that a severe crisis would take place," Jacobs continues. "For instance, in January of 2008, the Lord spoke the word to me, 'There will be no more business as usual.' It could be that this time around the Lord has simply chosen to speak to other prophets and not me, and that is His prerogative."

Still, because so many voices—both prophetic and secular economic analysts—are pointing to extreme economic trouble this fall and even into 2016, Jacobs is praying hard through this season. I am praying with her—and so should you. She reports positive prayer answers after taking her prayer team to Wall Street to intercede for God to give us a course correction instead of a complete economic meltdown.

"As we move into the September/October months of the Jewish New Year and the appearance of the fourth blood moon, what do I know that I have heard? Historic changes will take place in the coming days that will be a prophetic catalyst for a great awakening. God is setting the stage for revival and harvest," Jacobs says. "I also have a strong admonition that we are in a time of hearts being tested—whether we will rely on our own strength and capabilities, rather than God's."

I stand in 100 percent total agreement. I'm hearing the similar things are so are the likes of Chuck Pierce, Bill Hamon, Barbara Yoder and Ryan LeStrange. I'll share more with you about the revelations in the days ahead, but for now, let's get to the question about storing food. Should we store up mass amounts of food?

I live in South Florida, where hurricane season has caused devastation so I do have food and water stored. But I do not have three years worth of dried food in my house. Even if I wanted to, I could not possibly store up that much food in my little beachfront condo. If the Lord has told you to do that, obey—but don't move out of fear. Jacobs says if we're hoarding out of fear it's not from the Lord.

"In truth, no matter what comes, we are called to be overcomers. There have been many dire prophecies, but they all are conditional upon a lack of repentant hearts. At the moment, there are a number of prayer projects and fasts being called by various ministries, and our Reformation Prayer Network stands with them as well," Jacobs says.

"God will be the same great God in the coming days as He is right now at this very moment. He is not about to forsake His children, no matter what transpires. He is vitally interested in our personhood, families, and futures. God is setting the stage to make some serious history, and I, for one, am not afraid of the future because He is my future—eternally!"

And I offer a hearty "amen!"

Jennifer LeClaire is senior editor of Charisma. She is also director of Awakening House of Prayer in Fort Lauderdale, Florida, co-founder of AwakeningTV.com, on the leadership team of the New Breed Revival Network and author of several books, including The Next Great Move of God: An Appeal to Heaven for Spiritual Awakening; Mornings With the Holy Spirit, Listening Daily to the Still, Small Voice of God; The Making of a Prophet and Satan's Deadly Trio: Defeating the Deceptions of Jezebel, Religion and Witchcraft. You can visit her website here. You can also join Jennifer on Facebook or follow her on Twitter. Jennifer's Periscope handle is @propheticbooks.

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COMING SHEMITAH MARKET COLLAPSE: “ONLY 8 TRADING DAYS UNTIL WIPE OUT DAY”

Published on Sep 5, 2015

The end of the Shemitah cycle is fast approaching, and many are worried about an impending collapse, particularly considering we have already seen unprecedented stock market decline.

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Is Wall Street Bowing to the Shemitah? - Jennifer LeClaire

Is Wall Street Bowing to the Shemitah?

9/2/2015 JENNIFER LECLAIRE  charisma news

Wall Street dipped more than 2 percent on Tuesday. The Dow slipped more than 400 points in afternoon trading. All three major U.S. indexes are now reporting losses for the year. (Reuters)

Jennifer LeClaire is now sharing her reflections and revelations through Walking in the Spirit, a new podcast from Charisma. Listen at charismapodcastnetwork.com.

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Wall Street dipped more than 2 percent on Tuesday. The Dow slipped more than 400 points in afternoon trading. All three major U.S. indexes are now reporting losses for the year.

"We haven't see this kind of volatility in a while," Art Hogan, chief market strategist at Wunderlich Securities, told Reuters. "It reminds me of the one we saw during the 2008-2009 crisis."

That's not the kind of sign or wonder I want to see. The question is, what caused this? From a natural perspective, it was weak data from China mixed with growing fears that a stall in the world's second-largest economy will hamper global growth.

But could there be something else at work behind the scenes? There's certainly no lack of speculation about a financial collapse in September and the first day of the month didn't disappoint the speculators—be they economic analysts warning about America's unsustainable debt or prophetic voices pointing to God's judgment.

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Indeed, as USA Today reporter Adam Shell noted, the first day of trading in September looked a lot like the "abysmal" trading action in August, which was the worst month for the Dow since May 2010 and the stock market's first 10 percent correction in four years.

Is Wall Street bowing to the Shemitah? The Shemitah, or Sabbath year, is the seventh year of the seven-year agricultural cycle mandated by the Torah for the land of Israel. Understanding this seven-year pattern is essential for understanding the prophecies and mysteries of the Bible that are still applicable today.

Jonathan Cahn, author of The Mystery of the Shemitah, has said he believes a great shaking is coming to America and the world: "A shaking that will involve a financial and economic collapse, and yet a shaking not limited to those realms. I believe it is wise to be ready—physically, emotionally, morally, and most of all spiritually."

In The Mystery of the Shemitah, Cahn reveals his research on patterns throughout the history of America that line up with the Shemitah, including the Great Depression, 9/11, and the rise—and possibly the fall—of America.

So, I'll ask again, is Wall Street bowing to the Shemitah? There is no lack of discussion around the topic, but ultimately only God knows.

"Whether a financial crisis hits us on or around Yom Kippur this year or not isn't the real issue for me," Jonathan Bernis, a Messianic Rabbi and president and CEO of Jewish Voice Ministries International, told Charisma News.

"What is clear is that God is speaking, He is warning us of what is ahead. He is giving us an opportunity to respond, to prepare, and we must do our part-we must take action," Bernis said. "Whether judgment is three weeks off or three years off, things are going to get worse. Much worse. Now is the time to seek His face and draw near to Him."

I hope things don't get worse but I do believe it will get darker before the next great move of God. And here's what I absolutely know: Wall Street may not bow to the Shemitah, but every knee in this Babylonian system must bow at the name of Christ. We'd be wise to do the same, putting all that we have and all that we are under His lordship and making an appeal to heaven for spiritual awakening in this nation.

Jennifer LeClaire is senior editor of Charisma. She is also director of Awakening House of Prayer in Fort Lauderdale, Florida, and author of several books, including The Next Great Move of God: An Appeal to Heaven for Spiritual Awakening; Mornings With the Holy Spirit, Listening Daily to the Still, Small Voice of God; The Making of a Prophet and Satan's Deadly Trio: Defeating the Deceptions of Jezebel, Religion and Witchcraft. She is the co-founder of AwakeningTV.com and a leader in the New Breed Revivalists Network. You can visit her website here. You can also join Jennifer on Facebook or follow her on Twitter and on Periscope @propheticbooks.

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It Is Time to Kick Prepping Into Overdrive, Because This Stock Market Crash Is Just the Beginning

8/26/2015 MICHAEL SNYDER  charisma news

As I have discussed repeatedly, I have more of a sense of urgency about the last six months of 2015 than I have ever had about any other specific period of time. (Reuters)

If you have not been preparing for what is coming, you need to get off your sofa and you need to start prepping right now. Just remember what happened back in 2008. That crisis took most people totally by surprise. Millions of Americans lost their jobs.

Most of them were living paycheck to paycheck. So all of a sudden, most of them couldn't pay the rent or the mortgage. Large numbers of families who once lived a comfortable middle-class lifestyle suddenly found themselves destitute. Well, this coming crisis is going to be even worse by the time it is all said and done, and it is not just going to be economic in nature.

Over the past two trading days, the Dow has gone down more than 1,000 points. The shaking that so many have warned about has begun. As this shaking plays out, you and your family will need cash, food, supplies and a whole bunch of other things. If you do not already have everything prepared, then you need to kick your prepping into overdrive, because we are on a very compressed time frame now.

But don't just take my word for it. A top adviser to former British Prime Minister Gordon Brown named Damian McBride is saying the same thing:

"A former adviser to Gordon Brown has urged people to stock up on canned goods and bottled water as stock markets around the world slide."

And he didn't just speak in generalities. According to an article in one of the most important newspapers in the U.K., McBride is urging his fellow citizens to do some very specific things:

"Advice on the looming crash, No. 1: Get hard cash in a safe place now; don't assume banks and cashpoints will be open, or bank cards will work," he tweeted.

"Crash advice No. 2: Do you have enough bottled water, tinned goods and other essentials at home to live a month indoors? If not, get shopping.

"Crash advice No. 3: Agree a rally point with your loved ones in case transport and communication gets cut off; somewhere you can all head to."

All of that is great advice. But I wonder why he is so concerned about people being able to live a month indoors. Does he know something that the rest of us do not?

Others are issuing similar ominous warnings. The following is an excerpt from a recent article by Chuck Baldwin that seemed to be written with an unusual sense of urgency:

I suggest you have a supply of food and water to last at least three months. Many survival experts insist that a six-month supply is the minimum. Personally, I can live a long time on tuna fish or peanut butter. You can purchase MREs from a variety of sources, as well as camp-style packaged food from many sporting goods stores. Of course, bottled water is available everywhere during normal times. Stock up! Distilled water will store longer than spring water. Plus, I suggest you have some water purification tablets or a Katadyn water filter on hand. And if you are able, prepare to grow your own food. In cold weather climates such as we have here in Montana, people quickly learn how to construct and utilize greenhouses in which to grow food. Canning food is another very helpful hedge against deprivation. If your parents and grandparents lived through the Great Depression as mine did, this was standard operating procedure.

Get a generator. Keep a supply of fuel on hand. Stay stocked up on batteries, candles, portable lights, first aid supplies, and toiletries—especially toilet paper and toothpaste. I also suggest you never run out of lighters or matches. You never know when you'll need to build a fire. If you live in a cold weather climate, you probably already have some sort of wood stove or fireplace.

You can read the rest of that outstanding article right here.

Similar sentiments were expressed in a recent piece by prepper extraordinaire Daisy Luther:

• Take your money out of the bank ASAP. If you still keep your money in the bank, go there and remove as much as you can while leaving in enough to pay your bills. Although it wasn't a market collapse in Greece recently, the banks did close and limit ATM withdrawals. People went for quite some time without being able to access their money, but were able to have a sense of normalcy by transferring money online to pay bills or using their debit cards to make purchases. Get your cash out. You don't want to be at the mercy of the banks.
• Stock up on supplies. Make sure you are prepped. If you're behind on your preparedness efforts and need to do this quickly, you can order buckets of emergency food just to have some on hand. (Learn how to build an emergency food supply using freeze-dried food HERE.) Hit the grocery store or wholesale club and stock up there, too, on your way home.
• Load up on fuel. Fill up your gas tank and fill your extra cans also. Quite often, fuel prices skyrocket in the wake of a market crash.
• Be prepared for the potential of civil unrest. If the banks put a limit on withdrawals (or close like they did in Greece), you can look for some panic to occur. If the stores dramatically increase prices or close, (there will be) more panic. Be armed and be prepared to stay safely at home. (Although this article was written during the Ferguson race riots, civil unrest follows a similar pattern regardless of the cause.)
• Be prepared for the possibility of being unable to pay your bills. If things really go downhill, the middle class and those who are the working poor will be the most strongly affected, as they have been in Greece during that country's ongoing financial crisis. This article talks about surviving if you are unable to pay all of your bills.

Every family is facing a different set of circumstances, so "prepping" is not going to look the same for everyone. What may make sense for you may not make sense for me. But the truth is that we all need to get prepared for what is coming, because time is running out.

As I have discussed repeatedly, I have more of a sense of urgency about the last six months of 2015 than I have ever had about any other specific period of time. That is why the book that I recently co-authored with survivalist expert Barbara Fix is titledGet Prepared NOW. The word "NOW" is in larger print than everything else on the front cover because I really wanted to emphasize the urgency of what we are facing.

If you think that you can wait until next year to start getting prepared, you are going to be too late.

This stock market crash is just the beginning. Next month we are witnessing a convergence of events that is pretty much unprecedented. If you would like to learn more, here are some places to get started:

-"The Big List of 33 Things That Are Going to Happen in September 2015"

-"The Russian Media Is Talking About What Is Coming in September, but the U.S. Media Has Been Strangely Silent"

-"The Mystery of September 23: Why Does 9/23 Keep Popping up all Over the Place?"

-"10 Things That Are Going to Happen Within 15 Days of the End of the Shemitah"

The relative stability of the past few years has lulled millions of Americans into a state of complacency.

And even our politicians are displaying a stunning level of complacency. For example, even though our nation is rapidly going down the toilet, Barack Obama has played more than 1,100 hours of golf while he has been in the White House.

It is time for all of us to awaken from our slumber, because life in America is about to dramatically change.

Do you have some specific tips to share with those that are trying to get prepared for what is coming? Please feel free to join the discussion by posting a comment below.

Michael T. Snyder is the publisher of The Economic Collapse Blog and author of The Beginning of the End.

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