I am hearing that there could be another serious financial correction coming before during October 2016.
Harry Dent in his Sept 2015 book called “What to do when the Bubble Pops” has some concerning and informative research. Plus many Youtube stories and now more main stream outlets are saying there is a serious correction or worse coming soon . It does concern me that so many are now using alarming news reports and headlines in order to try to sell their newsletters/books and seminars.
There some important facts and trends appearing – these are the facts:
- According to Harry Dent the world is facing some serious ageing demographics (Baby Boomers) that will cause major downturns in many industries – and this is one major reason causing the economic concerns globally.
- Alan Greenspan has recently come out sounding a warning about the ageing baby boomer trend and that Governments especially in the US are not focusing on the issue, which according to Greenspan – if its not addressed will cause serious economic problems.
- APRA – Australia financial regulator has released a report sounding a warning that Australian Banks are at serious risk because of the high private debt levels in average families who have mortgages. The private debt levels are higher than back in 2008, so if another GFC hits jobs then there will be a quick and significant level of mortgage defaults that might bring down a few major banks.
- The China stock market is currently down 42% from its past highs, and the Chinese slow down has already been hurting Australian Industry and could have more serious effects in Australia – especially if China continues to slow. Dent believes China will have a major ongoing downward corrections because of all the Malinvestment.
- Retired US Congressman Ron Paul – is warning the world that the US Government is getting ready to confiscate large portions of it’s citizens assets, in particular the 7 Tillion Dollars of private super/retirement funds in order to prop up the Government and the Banking system.
- China and other BRIC’s countries have been buying up large amounts of gold with the possible plan to establish a new reserve currency – The Chinese Yuan Renminbi will be added to the United Nations/IMF- SDR (Special Drawing Rights) currency on October 1st 2016.
- All G20 nations are committed to giving their banking system the ability to legally “Bail in” or recapitalize the failing banks with the savings of their depositors.
- The counties that need close attention right now are bond markets in Spain and Italy as they are the next canary in the mine.