X22Report, Published on Jun 12, 2017
Spain’s banking system continues to decline, the banking regulators are putting a freeze on short positions on banking stocks. Moody’s reports more retailers will be filing for bankruptcy, this is the retail apocalypse. Chain restaurants have been hit hard, people just don’t have the discretionary funds to go out to eat. The tech sector took a beating which is not a very good sign on how the market it doing. Federal and state tax receipts implode and we are reaching the crisis point back in 2008-2009. The government is now spending more than it is taking in. The global credit impulse is negative and slipped even further, the credit growth in the US is locking up, as the Fed raises rates into a weakened economy it will set off a chain reaction scenario where the entire economy will implode on itself.
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