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Midyear Economic Update

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Jonathon Miller

Jonathon Miller

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There is a major world debt crisis, a huge bubble of shaky derivatives, and a teetering financial house of cards in Europe. Will there be an economic collapse or a financial reset?

Although there has been great improvement in the last year, the economic reality is that the U.S.A. economy never fully recovered from the sub-prime mortgage crisis and the financial crash of 2008. The previously claimed recovery was propaganda using tweaked numbers and free play money.

The systemic conditions of a financial system based on phony money and manipulation of numbers are such that a collapse is inevitable without major reform, either with detailed planning by international banking officials, or by letting the crisis force changes.

The banking fraud is folding, but so may your bank account!

A trigger that sets off a financial collapse could result in closing banks, plummeting stock prices, locking of bond redemptions and wiping out of pensions and other paper assets.

Alternative economists warn that market drops, wealth redistribution protocols, bank account and pension devaluation, criminal acts among business and government officials and/or dollar dump inflation may soon worsen the wipeout of the middle class and increase widespread poverty.

There may be little time to complete preparedness for the economic changes already underway. Let us hope that a well-thought out resolution plan will be introduced before chaos breaks out.

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