Newsgroup: it.politica.internazionale
Titolo: Red flags

 
Andiamo in ferie va.
 
#1 Puerto Rico is going to default on a 58 million dollar debt payment that is due on Saturday.  Even though this has serious implications for the U.S. financial system, Barack Obama has said that there will be no bailout for "America's Greece".
 
#2 As James Bailey has pointed out, the most important trendline for the S&P 500 has finally been broken after holding up for six years.  This is a critical technical signal that will likely motivate a significant number of investors to sell off their holdings in the weeks ahead.
 
#3 The IMF is indicating that it will not take part in the new Greek debt deal.  As a result, the whole thing may completely fall apart...
 
Leaked minutes of the fund's latest board meeting, which took place on Wednesday, showed staff "cannot reach agreement at this stage" on whether to take part in the new EURO 86bn (£60bn) bailout for Greece. The document said there were doubts over the capacity of the Athens Government to implement economic reforms, as well as the over the sustainability of the country's sovereign debt pile, which is now projected to hit 200 percent of GDP.
 
The German Chancellor, Angela Merkel, only sanctioned a new Greek deal earlier this month on the condition that the IMF takes part.
#4 Italy is going down the exact same path as Greece, but Italy is going to be a much larger problem for Europe because it has a far, far larger economy.  This week, we learned that youth unemployment in Italy has reached a 38-year high of 44 percent, and Italy's debt to GDP ratio has now hit 135 percent.
 
#5 The Canadian economy has officially entered a new recession.  This is something that was not supposed to happen.
 
#6 The price of oil plummeted close to 20 percent during the month of July.  It was the worst month for the price of oil that we have seen since October 2008, which just happened to be during the height of the last financial crisis.
 
#7 Commodities just had their worst month in almost four years.  As I have written about previously, we witnessed a collapse in commodity prices just before the stock market crash of 2008 too.
 
#8 Thanks to Barack Obama, the U.S. coal industry is imploding, and some of the largest coal producers in the entire country have just announced that they are declaring bankruptcy...
 
On Thursday, Bloomberg reported that the biggest American producer of coking coal, Alpha Natural Resources, could file for bankruptcy as soon as Monday.
 
Competitor Walter Energy filed for bankruptcy earlier this month, and several others have done the same this year.
#9 For the month of July, the Shanghai Composite Index was down 13.4 percent.  Despite unprecedented government intervention to prop up the market, it was the worst month for Chinese stocks since October 2009.
 
#10 A major red flag that a recession in the United States is fast approaching is the fact that Exxon Mobile just announced their worst earnings for a single quarter since 2009.  Compared to the same time period one year ago, Exxon Mobile's earnings were down 51 percent.
 
#11 Chevron is another oil giant that has seen earnings plunge.  In the second quarter of this year, Chevron's earnings were down an eye-popping 90 percent from a year ago.
 
And in this list I didn't even mention the economic chaos that is happening down in South America.  For full coverage of that, please see my previous article entitled "The South American Financial Crisis Of 2015".
 

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More Warnings
 
http://www.zerohedge.com/news/2015-08-05/six-warning-signs-economy-trouble