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Stop me if you’ve heard this one before …
Bank stocks are leading the entire market lower.
The economy is winding down; politicians and the Fed are scrambling to find a solution.
The Volatility Index — the VIX — is at levels not seen in more than two years.
Gold is setting one new record after another.
Sound familiar? It should:
These are precisely the things that happened
just before America’s LAST great stock
market crash in 2008!
And boy, oh boy, was it ever ugly!
The S&P 500 average plunged nearly 60%. Many household name stocks lost 80% … 90% … up to 100% of their value. Venerable old companies like Lehman simply ceased to exist. Millions of investors were wiped out.
But this time, things are far worse:
In 2008, investors were worried that consumers had taken on too much debt they couldn’t pay.
This time around, investors are panicking because our single largest institution — THE U.S. GOVERNMENT — has taken on too much debt it can’t pay.
Back then, investors could only hope that Washington would find a way to end the nightmare with bailouts and stimulus.
This time, investors know that government “rescues” only delay the inevitable collapse.
Plus, they realize that our new, fiscally conservative representatives in Congress are sworn to defeat stimulus and bailout bills.
And they have come to the shocking realization that no institution on Earth has enough money to save the U.S. government now.
This is why gold prices just set
another, new all-time high overnight,
hitting $1,808 per ounce.
And this is also why the Dow fell 519 points yesterday — a whopping 4.9% — while the Nasdaq fell 4.3% and the S&P 500 fell 4.4%.
Just as I’ve been warning you, U.S. bank stocks were hit particularly hard, giving up a whopping 7% of their value in a single day.
Many big banks fared even worse: Morgan Stanley fell 9.7%. Goldman Sachs fell 10%. Citigroup fell 10.5%. Bank of America crashed almost 11% — all in just a few hours of trading.
And yet, it’s clear that the bloodletting has only begun:
The European Union, the world’s largest economy, is coming unglued at the seams. The U.S. economy is slowing dramatically. Unemployment is rising. Consumers are snapping their wallets shut. Loan defaults are rising again.
And to add insult to injury, the U.S. Federal Reserve just promised to keep interest rates near zero for two, long years — a decision that will drive inflation higher AND severely limit the interest revenues that are the banks’ lifeblood.
This is what
we’ve been trying to prepare you for …
This is why we produced our shocking video, American Apocalypse — and it’s why we believe that viewing this timely video is the single most crucial thing you could be doing as this crisis unfolds.
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BUT BE ADVISED:
American Apocalypse is NOT for the faint of heart.
It presents disturbing facts about America’s economic decline … how it threatens your very financial survival … and what you must do immediately to protect your wealth.
We show you why insane government spending, massive debts, out-of-control money printing, and almost unimaginable political cowardice are about to exact a heavy toll from each of us.
We give you three grave warnings that you cannot afford to ignore now — including the scandalous reasons why Washington now believes everything you’ve ever worked for must now be confiscated from you.
Most importantly, we offer you crucial solutions:
Simple steps you can take to insulate your money and your family from this great American Apocalypse …
This all-important video is absolutely free — a public service provided by Weiss Research.
Just click this link and it will begin playing immediately.
Best wishes,
Mike Larson
Mike Larson graduated from Boston University with a B.S. degree in Journalism and a B.A. degree in English in 1998, and went to work for Bankrate.com. There, he learned the mortgage and interest rates markets inside and out. Mike then joined Weiss Research in 2001. He is the editor of Safe Money Report. He is often quoted by the Washington Post, Reuters, Dow Jones Newswires, Orlando Sentinel, Palm Beach Post and Sun-Sentinel, and he has appeared on CNN, Bloomberg Television and CNBC.
