10 Warning Signs That Something Evil This Way Comes

Finding useful sources for news can be challenging. For example, over the past week the leading news story in the U.S. has been about Justin Bieber. I find that a sad and depressing commentary on our country. That's why looking at news sources outside of the U.S. can be helpful for understanding what is happening in the world. If you get all of your news from the usual sources, here are a few news items that you probably don't know about. Ignore these stories (and others) in favor of the latest drivel offered by our U.S. media and you miss the big picture.

1. This week the 30-day/4-week T-bills were auctioned off at a 0% rate. After the auction, the rate went negative. Negative short term rates were last seen in 2008, right before the Lehman/AIG/Goldman collapse occurred. Negative rates only occur when very big investors are concerned about the return of their money rather than the return on their money. Something is spooking big money, possibly a massive risk of derivatives default just like in 2008.
2. The value of the Argentine Peso and Venezuelan Bolivar have collapsed leading to economic chaos, violence and looting in those countries. This is what eventually happens when you relentlessly devalue your currency.
3. The economic breakdown in Argentina and Venezuela appears to be spilling over into Brazil as their stock market crashes.
4. Political rioting in the Ukraine has that country coming apart at the seams.
5. It appears that a bank run is underway in China as their credit bubble collapses and the manufacturing sector contracts.
6. Unemployment rates in France, Italy, and Spain have all hit new all-time record highs, and the value of the Turkish Lira is collapsing.
7. The Baltic Dry Index, a leading indicator of international trade, has posted the largest decline ever over the past two weeks.
8. Chipmaker Intel has announced it will eliminate 5,000 jobs over the upcoming year. Sears, JC Penny, and Target are planning significant layoffs, hiring freezes, and store closings.
9. The U.S. stock markets have fallen and it is becoming increasingly likely that the peak of the markets is behind us.
10. The U.S. national debt (not including 50+ trillion in unfunded entitlement liabilities) currently stands at $17.34 trillion and the current debt ceiling will be reached in early February. It was originally thought that the next debate in Congress over the debt ceiling could have been pushed into May. (Less than six years ago, presidential candidate Obama correctly called the $9 trillion national debt accumulated under the Bush Administration "unpatriotic".)

There are many other items, but 10 is enough for this post. A global economic storm is approaching while our media and our citizens are obsessed with celebrity scandals and reality TV.