The Japanese government has officially stopped recommending the Human Papillomavirus vaccines and has begun warning its citizens against taking the shot.

Melissa Melton
Activist Post

Standard Digital reports:

In effect, the Japanese Ministry of Health is saying quite categorically that it has no faith in Gardasil and Cervarix… While the vaccines will remain freely available in the country, Japanese medical institutions are now required by law to inform young girls or their parents that the government does not recommend the vaccines any longer because of their associated adverse effects. [emphasis added]

The U.S. Food and Drug Administration (FDA) has approved two HPV vaccines: Merck’s Gardasil and GlaxoSmithKline’s Cervarix. The two vaccines raked in over $2 billion in profits just last year.

Back in February, Judicial Watch sued the U.S. Department of Health and Human Services for documents requested under the Freedom of Information Act (FOIA) in regard to the HPV vaccine and the government’s National Vaccine Injury Compensation Program (VICP).

When the information was finally received, it revealed that of 200 claims filed, the U.S. government has paid out nearly $6 million in damages to 49 HPV vaccine victims through VICP — and more than half the claims are still awaiting evaluation.

As I reported before, reading through official HPV vaccine adverse claims documents is like reading a novel called Every Parent’s Worst Nightmare. HPV vaccine side effects reported so far include a whole barrage of adverse reactions such as Guillain-Barre syndrome, seizures, severe pain, fatigue syndrome, tremors, infertility, spontaneous miscarriage and even death.

To date, at least 47 girls and women have died after taking HPV vaccines. The shot has also been linked to full-blown cervical cancer and outbreaks of the very genital warts it is supposed to help protect from in the first place.

In fact, the number of adverse HPV vaccine reactions reported — nearly 10,000 to date — are close to surpassing the 12,200 women that the National Cancer Institute estimates will even get diagnosed with cervical cancer in the U.S. in a year.

Evaluations of these vaccines have shown that studies completed during the drug approval process lacked significant data to even really demonstrate their effectiveness because the trials were too short. A 2011 Annals of Medicine review found, “The efficacy of HPV vaccines in preventing cervical cancer has not been demonstrated, while vaccine risks remain to be fully evaluated.”

Worse, reports have surfaced that Dr. Diane Harper, a lead Merck researcher-developer, openly admitted the vaccine itself is basically pointless at a 2009 International Public Conference on Vaccination. According to Steven Mosher’s Population Research Institute:

Indeed, [Dr. Diane Harper, the leading international developer of the HPV vaccines] surprised her audience by stating that the incidence of cervical cancer in the U.S. is so low that ‘if we get the vaccine and continue PAP screening, we will not lower the rate of cervical cancer in the U.S.’

Dr. Harper later said she did it so she could “sleep at night“.

HPV Vaccines: a Textbook Case of Government Corruption at Its Finest

Dr. Julie Gerberding, former U.S. Centers for Disease Control and Prevention (CDC) director from 2002 to 2009, directly helped pave the way for Merck’s Gardasil vaccine with a 2004 report to Congress on preventing HPV. After she left the CDC in 2009, Dr. Gerberding walked right through the revolving door between our government and mega corporations to take a job as President of Merck’s Vaccine Division.

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See how that worked?

Add that fact to a recent Global Burden and Disease study which found that, out of 187 countries assessed, Japanese people had the longest life expectancy rates in the world. Even though the U.S. spends $2.7 trillion on healthcare annually, our life expectancy rates were a dismal 29th for males and 33rd for females.

Kinda answers that lingering question about why the Japanese government would make common sense decisions based on evidence and stop allowing the administration of an obviously dangerous vaccine without warning, while stateside our FDA is still dutifully telling Americans not to worry, go ahead and take the shot — it is “safe and effective”.

[youtube https://www.youtube.com/watch?v=0gCVCP8BFrU?feature=player_embedded]

MELISSA MELTON is a co-founder of TruthstreamMedia.com, where this article first appeared. She is an experienced researcher, graphic artist and investigative journalist with a passion for liberty and a dedication to truth. Her aim is to expose the New World Order for what it is — a prison for the human soul from which we must break free.

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By Melissa Dykes

The Prime Minister of Japan wants a robot revolution to replace the nation’s aging workforce, reports The Age:

A new greeter at the entrance of the Mitsukoshi department store in central Tokyo has caused a stir. The worker, dressed in a kimono and cheerfully welcoming shoppers in honorific Japanese, is a robot made by Toshiba and shows how lifelike these machines can be.

This latest example of Japan’s skill comes just as Prime Minister Shinzo Abe is calling for a “robot revolution”. Advances in robotic computing power, the ability to recognise voices and images, and machine learning could help the country overcome the handicap of a fast-ageing populace and a declining workforce.

Really? Are robots going to take care of the elderly and pay all their bills when they and their children have no jobs?

This is a country that has a national holiday called Respect For the Aged Day each September. Now they can’t wait to terminate their elders’ income? Maybe they’ll also adopt Britain’s medical policy of asking older patients age 75 and up if they are ready to die while they’re at it? “How about signing this ‘Do Not Resuscitate’ order too and would you mind slipping on this toe tag to save us the trouble?”

The Age continued:

At the opening of Japan’s Robot Revolution Initiative Council on May 15, Abe urged companies to “spread the use of robotics from large-scale factories to every corner of our economy and society”. Backed by 200 companies and universities, the five-year, government-led push aims to deepen the use of intelligent machines in manufacturing, supply chains, construction, and health care, while expanding robotics sales from 600 billion yen ($6.4 billion) annually to 2.4 trillion yen by 2020.

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Japan’s total fertility rate currently sits well below replacement rate at 1.41 births per woman. The image above is more than just a robot door greeter at a department store in a country with a dwindling population of young people to take care of its elderly.

It’s a death knell for the income of the nation’s already dwindling human population, sung by robots.
And finally:

The [Japanese] government wants machines to provide logistical support, perform surgery, and work in disaster recovery in the quake-prone nation. Other priorities are commercial drones and nurse robots. Panasonic has developed a robot that transforms from a bed to a wheelchair, while a startup, Cyberdyne, has created devices that help the infirm move around. Says Yoshiko Yurugi, a robotics expert at the New Energy and Industrial Technology Development Organisation: “We are entering an era when we will definitely have to rely on the help of robots.”

Cyberdyne? Like the self-aware artificial intelligence in the Terminator movies that attempts to exterminate humanity? They couldn’t think of another name??

Really??

Well apparently it won’t take literal robotic death machines like in the Terminator movies to wipe humanity out… all the robots will have to do is take everyone’s jobs. We’ll upgrade ourselves into oblivion.

Melissa Dykes is a writer, researcher, and analyst for The Daily Sheeple, where this article first appeared, and a co-creator of Truthstream Media with Aaron Dykes, a site that offers teleprompter-free, unscripted analysis of The Matrix we find ourselves living in. Melissa also co-founded Nutritional Anarchy with Daisy Luther of The Organic Prepper, a site focused on resistance through food self-sufficiency. Wake the flock up!

image source

Stephen Lendman
Activist Post

A previous article discussed the disconnect between soaring markets and troubled economies. Liquidity driven markets only skyrocket so long.

What can’t go on forever, won’t. No one’s sure when. Eventually the music stops. When that happens, watch out. Signals provide clues.

Fed governors hint at slowing QE. Some analysts think by year end or sooner. Bond prices affect other markets. Spiking Japanese sovereign yields (JGB) suggest trouble.

On May 18, The Japan Times headlined “JGB yield spikes raise alarm bells,” saying:

Is it a sign of a full-fledged economic recovery or a looming catastrophe in the monetary making?

On April 5, the benchmark 10-year JGB perhaps bottomed at 0.315%. From there it surged. On May 17, it hit 0.92%. It pulled back. It resumed rising. On May 21, its yield was 0.88%.

At the same time, demand for 40-year debt waned. Yields closed at 1.955%. It’s their highest level in almost a year. Bad auction results suggests higher levels ahead.

According to Sri-Kumar Global Strategies Inc., Japan’s debt is so large it threatens to undermine its bond market. Doing so has a global effect. More on that below.

Rising levels means higher debt-servicing costs. According to Sumitomo Trust Bank, a 1% interest rate rise increases it by 10 trillion yen by 2020.

On May 14, the Financial Times headlined ” ‘Spiking’ Japanese bond yields recall days of 2003,” saying:

The 10-year yield has now almost doubled from last month’s low, similar to the initial rise from an almost identical low a decade ago.

A new Bank of Japan governor then vastly increased bond purchases. Ministers first reacted by a record currency intervention. Public spending replaced it.

“If the parallels continue, bondholders will suffer a lot more pain.” In 2003, rising yields lasted one month. They stayed flat until commodities soared. They did so in 2007.

The big difference this time is that the yen has collapsed, falling yesterday to its weakest in five years against the dollar, below Y102.

Domestic bondholders lost only 1% since December. Dollar-based ones are down about 20%. The good news perhaps is defeating deflation. The bad news may undermine doing so.

On May 10, Market Ticker’s Karl Denninger headling “Japan’s Ticking Fiscal Bomb.”

Prime Minister Sinzo Abe and Bank of Japan governor Haruhiko Kuroda may get more than they bargained for.

The yen collapsed against the dollar. It dropped nearly one-third in value. Doing so sent the Nikkei “screaming higher.” Doing so’s not like what it looks.

Currency devaluation to generate inflation has a price. “The ‘bad news’ came in the bond market.” It went limit down on yield.

Since the government is massively in debt, it will be unable on a cash basis to pay its bills, as they will not be able to roll over the existing debt when it matures and pay the (new) coupon. 

If (it tries) then (it’s) forced to continue to print even more yen to fund the interest payments, which in turn causes the value of the bonds emitted to go down further – a monetary equivalent of a flat spin – and is unrecoverable.

Import prices already soared 30%. Japan’s heavily dependent on foreign oil. Many of its other industrial requirements are imported.

In mid-April, former George Soros advisor on Japanese investments, Takeshi Fujimaki, tripled down on warnings.

He believes massive QE won’t stimulate growth. It promises trouble.

By expanding the monetary base to 270 trillion yen, the BOJ is making a huge bet which I think it will ultimately lose. 

Kuroda’s QE announcement is declaring double suicide with the government. The BOJ will have to share the country’s fate and default together. 

The volatility in the JGB market as well as the fact that there is large selling represent fear among investors. 

They are early signs of a larger selloff and we should continue to monitor the moves in the long-term bonds. 

Japan’s finance is sinking into the ocean. There’s no escape from a market crash in the future when you have such enormous debt.

He sold almost all his Japanese equity holdings some time ago.

In early April, Bank of Japan governor Kuroda announced pedal-to-the metal QE. He plans to double Japan’s monetary base. He’ll do so in less than two years.

Any significant rise in JGB yields defeats his strategy. Japan’s government bond market stands at 240% of GDP. It’s the highest debt burden among developed countries.

Debt monetization doesn’t produce growth. Doing what never worked before won’t now. Previous Japanese grand plans failed.

In the late 1980s, BOJ policy escalated asset and property prices. It did so to unprecedented levels. Market crashes, rolling recessions, weak recoveries, malaise, deflation, and dangerous deficits followed.

Japan’s in unchartered waters. Money printing madness fueled the latest rally in global equities.

On May 20, market analyst Graham Summers signaled trouble. Kuroda’s announced $1.2 trillion QE policy hammered the yen. At the same time, it fueled over a 70% Nikkei rally in six months.

“This has been the fundamental driver of this latest risk on rally.” Fed governors suggest reduced QE by yearend or sooner. “So it’s the Bank of Japan who’s in the driver’s seat for asset prices today.”

What’s good for stocks is bad for the yen. “(I)t’s been an absolute disaster for Japanese bonds.” Since announcing new BOJ policy, JGBs “triggered circuit breaks no less than four times due to increased volatility.”

Late last week, they violated their multi-year trend line. They did so briefly. Doing so suggests again. Perhaps they’ll breach it sharply. It matters.

Japan’s bond market is the world’s second largest. If sovereign debt keeps falling, rates rise. Higher levels affect global finance.

Greece impacted it earlier. It’s bond market is miniscule. It’s less than 3% of Japan’s.

For many decades, Japanese bonds were considered “risk free.” Investors bought them at very low yields. Doing so helped Japan’s economically. It grew marginally. Absent foreign investors, it would have fared worse.

If Japanese bonds begin imploding, said Graham, expect trouble. Doing so means:

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The second largest bond market in the world is entering a bear market (along with commensurate liquidations and redemptions by institutional investors around the globe). 

The second largest economy in the world will collapse (along with the impact on global exports).

Worse still, global central bank efforts to hold international finance together “will have proven a failure.”

Japan is a major central bank “progressive and accommodating policy” leader. For nearly two decades, BOJ kept interest rates near zero.

It launched nine QE plans. They equaled nearly 25% of Japan’s GDP. Thus far, it’s done so “with minimal consequences.”

Other central banks believed they could replicate BOJ policy. If Japan’s bond market craters, “then it’s Game. Set. Match.”

The greatest monetary experiment ever will have failed. “(W)hat follows will make Lehman look like a joke.”

Global finance is flashing red. It’s sending “major warnings.” No one’s sure what’s coming or when.

Economies are troubled. Monetary stimulus failed. This time won’t be different. All bubbles pop. Harder times loom.

Growth requires job creation. Unemployment’s much too high. Eurozone joblessness hit another record. America’s real rate is 23%.

Dropping money on bank balance sheets doesn’t work. Main Street’s beset with austerity. Dire conditions there matter most.

People can only borrow so much. They can’t spend what they don’t have. Bad policies beget bad results. Economies already are troubled.

They’re heading for potential disaster. It may be worse than expected on arrival. Forewarned is forearmed.

Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net. His new book is titled How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War. Also visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening. http://www.progressiveradionetwork.com/the-progressive-news-hour/

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Mac Slavo
Activist Post

When the Cypriot government forced account holders to cover bank losses earlier this year most of the world assumed this was a one-off event, limited only to the people of Cyprus.

Though warnings urging depositors to get their money out of banks spread across the world, few have taken them seriously.

Perhaps now they’ll reconsider.

We’re all familiar with bail-outs, as in the government rescuing failed institutions, namely banks, by injecting them with tens of billions of dollars to prevent collapse.

But have you ever heard of a bail-in?

Japan’s Financial Services Agency will enact new rules that will forced failed bank losses on investors, if needed, via a mechanism known as a “bail-in,” according to The Nikkei. Mitsubishi UFJ (MTU), Mizuho Financial (MFG) and Sumitomo Mitsui (SMFG) are among those proposing amendments to allow them to issue the types of preferred shares or subordinated bonds that would be used in such cases, the report noted.

Cyprus was a test run. It worked.

This is now the official policy of the country of Japan, and is a serious consideration throughout the Eurozone and the United States.

Euro zone finance ministers will discuss on Thursday how to decide which creditors will lose money and in what order during future bank rescues by the bloc’s bailout fund, the European Stability Mechanism.

Just so we’re clear, we are all bank creditors by these definitions, thus the regulations being created apply not to just large bond holders, but every individual depositor.

Notice how they didn’t say “in case future bank rescues are necessary.” That’s because they know what’s coming.

The collapse of the global financial system is a foregone conclusion and it has just been confirmed by finance ministers around the world.

When the next banking crisis hits the United States you can be assured that creditors (i.e. individual depositors) will be forced to ‘bail them in.’

Given that that billionaire insiders are rapidly unloading millions of shares of financial stocks as we speak, there is a strong possibility that this scenario may soon unfold.

So, if you’ve got any significant amount of money at financial institutions, you’d better think twice about how safe it is.

Of course, this is the United States of America, where nothing of the sort could ever happen. According to Federal Reserve Chairman Ben Bernanke, here in the U.S. the crisis is contained and poses no risks to the broader economy or financial markets.

So, you can probably just move along and ignore this warning.

Nothing to see here… It’s just Japan and Europe, after all, and they are all the way on the other side of the ocean.

Michael Snyder
Activist Post

How much is 1,000,000,000,000,000 yen worth?  Well, a quadrillion yen is worth approximately 10.5 trillion dollars.  It is an amount of money that is larger than the “the economies of Germany, France and the U.K. combined“.  It is such an astounding amount of debt that it is hard to even get your mind around it.  The government debt to GDP ratio in Japan will reach 247 percent this year, and the Japanese currently spend about 50 percent of all central government tax revenue on debt service.

Realistically, there are only two ways out of this overwhelming debt trap for the Japanese.  Either they default or they try to inflate the debt away.  At this point, the Japanese have chosen to try to inflate the debt away.  They have initiated the greatest quantitative easing experiment that a major industrialized nation has attempted since the days of the Weimar Republic.

Over the next two years, the Bank of Japan plans to zap 60 trillion yen into existence out of thin air and use it to buy government bonds.  By the time this program is over, the monetary base in Japan will have approximately doubled.  But authorities in Japan are desperate.  They know that the Japanese debt bomb could set off global panic at any time, and they are trying to find a way out that will not cause too much pain.

Unfortunately, the only way that this bizarre quantitative easing program will work is if investors in Japanese bonds act very, very irrationally.  You see, the only way that Japan has been able to pile up this much debt in the first place is because they have been able to borrow gigantic piles of money at super low interest rates.

Right now, the yield on 10-year Japanese bonds is sitting at an absurdly low 0.76%.  But even with such ridiculously low interest rates, the central government of Japan is still spending about half of all tax revenue on debt service.

If interest rates go up, the game is over.

But now that the Japanese government has announced that it plans to double the monetary base, it would be extremely irrational for investors not to demand higher rates on Japanese government debt.  After all, why would you want to loan money to the Japanese government for less than one percent a year when the purchasing power of your money could potentially be halved over the next two years?

Amazingly, this is exactly what the Japanese government is counting on.  They are counting on being able to wildly print up money and monetize debt, but also keep yields on Japanese bonds at insanely low levels at the same time.

For the moment, it is actually working.  Investors in Japanese bonds are behaving very, very irrationally.

But if that changes at some point, we could potentially be looking at the greatest Asian economic crisis of all time.

And there are some very sharp minds out there that believe that is exactly what is going to happen.

For example, the founder of Hayman Capital Management, Kyle Bass, has been sounding the alarm about Japan for a long time.  He correctly predicted the subprime mortgage meltdown, and in the process he made hundreds of millions of dollars for his clients.  Now he believes that the next major crash is going to be in Japan.

According to Bass, the bond bubble in Japan is so large that once it begins to implode fear is going to start spreading like wildfire…

Remember, Japanese banks in general have 900% of their tangible assets invested in JGBs that are the most negatively convex instrument you can put into a portfolio. Assume for instance that a bank holds a 10 year bond yielding 80 basis points. A 100 basis point move will cost the JGB investor about 10 years of expected interest payments.

Think about the psychology of all the players and financial implications if rates do move 100 basis points. Think about the solvency of a nation which currently spends 50% of its central government tax revenues on debt service, half of which earns the lowest yields of any country in the world.

You can’t look at this as a simple question. You need to think about this as a multivariate equation. You have to think about the incentives and the fears of all the participants. And you need to think about the fiscal sustainability of the government.

If rates even rise by a full percentage point, it could start a stampede toward the exits that nobody in the entire world would be able to control…

I ran a survey of 1,009 Japanese investors where we asked: “If rates were to move up 100 basis points, would that engender more confidence and make you want to buy more JGBs?” or, “Would you take your money elsewhere, even if it were hamstringing your government’s ability to operate?” 8 – 9% of respondents that said that they would buy more bonds and almost 80% said they would run, not walk the other way.

For much more on this, you can watch a video of Kyle Bass discussing why Japan is doomed right here.

And of course Japan is not the only “debt bomb” that could potentially go off over in Asia.  As I mentioned in another article, the major problem over in China is the level of private debt…

In China, the big problem is the absolutely stunning growth of private domestic debt.  According to a recent World Bank report, the total amount of credit in China has risen from 9 trillion dollars in 2008 to 23 trillion dollars today.

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That increase is roughly equivalent to the entire U.S. commercial banking system.

There is simply way, way too much debt in our world today.  Never before has there been so much red ink all over the planet at the same time.

Many in the mainstream media insist that this party can go on indefinitely.

But that is what they said about the housing bubble too.

Sadly, the truth is that every financial bubble eventually bursts, and this global debt bubble will be no exception.

I hope that you are getting prepared while you still can.

This article first appeared here at the Economic Collapse Blog.  Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.

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Michael Snyder
Activist Post

Did you see what just happened in Japan?  The stock market of the 3rd largest economy on the planet is imploding. On Tuesday, the Nikkei fell by more than 610 points. If that sounds like a lot, that is because it is. The largest one day stock market decline in U.S. history is only 777 points. So far, the Dow is only down about 1000 points during this “correction”, but the Nikkei is down more than 2,300 points. The Nikkei has dropped more than 14 percent since the peak of the market, and many analysts believe that this is only just the beginning.

Those who have been waiting for a full-blown stock market collapse may be about to get their wish.  Japan is absolutely drowning in debt, their central bank is printing money like crazy and the Japanese population is aging rapidly. As far as economic fundamentals go, there is very little good news as far as Japan is concerned. So will an Asian financial collapse precede the next great financial crisis in the United States?  That is what some have been predicting, and it starting to look increasingly likely.

What happened to the Nikkei early on Tuesday was absolutely breathtaking.  The following is how Bloomberg described the carnage…

At the end of January 2013, Japanese stocks trailed only Portugal for the biggest rally among developed markets. Now the Nikkei 225 Stock Average is leading declines, slumping 8.5 percent last month and today capping a 14 percent drop from its Dec. 30 peak.

Losses snowballed in Tokyo during a global retreat that has erased $2.9 trillion from equity values worldwide this year amid signs of slower growth in China and stimulus cuts by the U.S. Federal Reserve.

As Bloomberg noted, much of the blame for the financial problems that we are seeing all over the planet right now is being placed on the Federal Reserve.

The Fed created this bubble by pumping trillions of fresh dollars into the global financial system, and now they are bursting this bubble by starting to cut off the flow of easy money.

This is something that I warned would happen when the Fed decided to taper, and now RBS is warning of a “market bloodbath” unless the Federal Reserve immediately stops tapering.

Most Americans simply do not realize that our financial markets no longer resemble a free market system.  Instead, they are highly manipulated and distorted by the central banks, and the trillions of dollars of “hot money” that the Fed has poured into the global financial system has infected virtually every financial market on Earth…

On Wall Street they call it “hot money”—that seemingly endless flow of cash that goes to the most profitable country du jour—but in the real economy it’s gone cold.

That hot money has come mostly in the form of a low-yielding U.S. dollar, which investors have borrowed en masse to fund investments in other higher-yielding currencies across the globe. The so-called carry trade has helped fuel an investment bonanza across the world that has boosted risk assets thanks primarily to the U.S. Federal Reserve’s easy-money policy.

But with the Fed tiptoeing away from what initially was an $85 billion-a-month infusion of liquidity, investors are beginning to prepare themselves for a world of rising rates in which the endless cash flow to emerging market economies begins to ebb, then cease.

We never fixed any of the fundamental problems that caused the last financial crisis.  Instead, the Fed seemed to think that the solution to any problem was just to create more money.

It was an incredibly stupid approach, and now our fundamental problems are worse than ever as Marc Faber recently noted…

Total credit as a percent of the global economy is now 30 percent higher than it was at the start of the economic crisis in 2007, we have had rapidly escalating household debt especially in emerging economies and resource economies like Canada and Australia and we have come to a point where household debt has become burdensome on the system—that is, where an economic slowdown follows.

So what comes next?

Well, unless the Fed or other central banks intervene, we are probably going to have even more carnage.

At least that is what Dennis Gartman, the editor and publisher of “The Gartman Letter”, told CNBC on Tuesday…

I just think you’re going to have a very severe, very substantive and really quite ugly correction that will probably make a lot of people wail and gnash their teeth before it’s done.

Other analysts share his pessimism.  According to Doug Short, the vice president of research at Advisor Perspectives, the U.S. stock market “still looks 67% overvalued“.

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Most sobering of all is what Richard Russell is saying.  In his 60 years of writing about financial issues, he has never been “so filled with foreboding regarding what lies ahead”…

I’d be lying if I said that I wasn’t worried about the way things are going.  Frankly, I’m truly scared for myself, my family and the nation.  I have the sinking feeling that the stock market is on the edge of a crash.  If that happens, investor sentiment will turn quickly bearish.  And the bear market will start feeding on itself.  Ironically, the recent action occurred in the face of almost insane bullishness on the part of the crowd and on the part of investors.

Obviously smart heads and institutional money managers know that the US is semi dead in the water.  And all the talk about an improving economy is just wishes and hopes.  Bernanke’s dream of a flourishing new economy, improving without the need of the Fed’s help, is an idle dream.

I’ve been writing about the stock market for over 60 years and I can’t remember a time when I was so filled with foreboding regarding what lies ahead.  The primary trend of the market, like the tide of the ocean, is irresistible, and waits for no man.  What scares me the most in this current situation is that I see no clear island of safety.

You can read the rest of his very disturbing remarks right here.

U.S. stocks may not totally crash this week, this month or even this year, but without a doubt a day of reckoning is coming.  As a society, our total consumer, business and government debt is now equivalent to approximately 345 percent of GDP.

The only way that the game can continue is to keep pumping up the debt bubble even more.
Once the debt bubble stops expanding, it will start collapsing very rapidly.

Those that foolishly still have lots of money in the stock market better hope that the Federal Reserve decides to intervene in a major way very soon.

Because if they don’t, there is a very good chance that we could indeed have a “market bloodbath” on our hands.

This article first appeared here at the Economic Collapse Blog.  Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.