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Economic collapse looming as Trade War with China worsening. On Monday the Dow Jones Industrial Average crash 617 points, and that was the worst day for the Dow since January 3rd. But the market crash were even worse for the Nasdaq. It had its worst crash since December 4th, and overall the Nasdaq is now down 6.3 percent in just the last six trading sessions. Of course it isn’t just in the United States where a major stock market crash is imminent. Since last Monday, a total of approximately $3.5 trillion in market cap has been wiped out on global stock markets. And since it doesn’t look like we are going to get any sort of a trade deal any time soon, this could potentially be just the beginning of the upcoming global economic collapse.
China fired a shot that was heard around the world on Monday when they announced that they would be dramatically raising tariffs on U.S. goods. These new tariffs are going to be particularly damaging for U.S. farmers. When you combine the impact of these Chinese tariffs with the unprecedented flooding that we have seen in the middle of the country, the result is that thousands upon thousands of U.S. farmers are going to be pushed into bankruptcy before the end of 2019.
But China might not stop with just increasing tariffs. According to Global Times Editor in Chief Hu Xijin, China “may stop purchasing US agricultural products” entirely, and the Chinese are also examining “the possibility of dumping US Treasuries” They weaponise Its u.s debt for dollar collapse. As I mentioned yesterday, China literally has hundreds of different ways that they can hurt us economy. So the truth is that those that are suggesting that the next major financial collapse and stock market crash is not here are just being delusional.
there are two more points that I would like to make:
1. Firstly, the price of soybeans is absolutely tanking right now, and this is going to be absolutely catastrophic for soybean farmers… It is the middle of May, and U.S. farmers have only planted about half the crops that they would normally have planted by this time of the year. That is a national crisis, and it also means that U.S. food production is going to be way down this year.
2. Secondly, stock markets got a boost on Monday evening when President Trump indicated that the next “three or four weeks” will determine the success of trade talks with China… Trump is expected to meet with the Chinese president some time in June, and the hope that they will be able to work out a deal will probably keep global financial markets from completely tanking in the next few weeks.
Of course there is still likely to be quite a bit of volatility for global stock market in the short-term, but if there is no trade agreement by the end of next month, July could potentially be a start the next major stock market crash and economic collapse.
Script written by Michael Snyder: http://theeconomiccollapseblog.com
Michael’s Books about the upcoming economic collapse: https://amzn.to/2Q6x6Ol
Music: CO.AG Music https://www.youtube.com/channel/UCcavSftXHgxLBWwLDm_bNvA
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