The Economic Collapse blog reports:
1 dollar = 1 euro?
Don’t think that it can’t happen.
But the decline of the euro is just part of the story. The truth is that Europe is on the verge of a financial collapse that could end up dwarfing the financial crisis of 2008.
Sadly, most Americans have no idea what has been going on in Europe the past few days….
-Shares of another major Italian bank, Intesa Sanpaolo, fell 7.3 percent on Thursday.
-Shares of three major French banks all fell by at least 5 percent on Thursday.
-The yield on 5 years Italian bonds is back over 6 percent and the yield on 10 year Italian bonds is back over 7 percent. Analysts all over Europe insist that that the Italian debt situation is not sustainable if rates stay this high.
-Italy’s youth unemployment rate has hit the highest level ever.
This is mind blowing news.
But what is the top headline on USA Today right now?
These are some of the other top headlines on USA Today right now….
“Automakers Rush To Offer Apps In Your Car”
“Bargain Season At Taco Bell, Pizza Hut, Wendy’s”
“Does Your Dog Understand You? Study Says Maybe”
Is that what passes as news in this country?
A financial meltdown of historic proportions is happening in Europe and you cannot even find anything about it on the front page of USA Today.
All of us need to snap out of our television-induced comas and start waking up.
Things are about to get really bad for the global financial system.
At this point so much confidence has been lost in the euro that even the Council on Foreign Relations is admitting that the euro is a failure….
Read the rest HERE.
I thank the Lord that we do not have to rely on main stream media for the important news. The internet is a real blessing to us who are watching for the return of the Lord. If we only have to rely on main stream media, we would have missed many signs.