Europe

"Everybody should be worried.. and be prepared," warns legendary investor Jim Rogers, as he sees the market "facing a bigger collapse than in 2008," and the central banks will be unable to kick the can much longer. "This is the first time in recorded history where you have Central Banks & governments setting out to destroy the people who save & invest," Rogers exclaims and "the markets are telling us that something is wrong - we're getting close."

The Norwegian Prime Minister Erna Solberg has warned that Sweden is about to collapse due to the overwhelming influx of refugees in the country.  Solberg is so concerned with its imminent collapse that she has created an emergency law to seal Norway’s borders in case “it all breaks down” in Sweden. Zerohedge.com reports: “It is a force majeure proposals which we will have in the event that it all breaks down, the power just comes, and all end in Norway because we are at the top and most of Europe.

Two weeks ago, on one of the slides in a Morgan Stanley presentation, we found something which we thought was quite disturbing. According to the bank's head of EMEA research Huw van Steenis, while in Davos, he sat "next to someone in policy circles who argued that we should move quickly to a cashless economy so that we could introduce negative rates well below 1% – as they were concerned that Larry Summers' secular stagnation was indeed playing out and we would be stuck with negative rates for a decade in Europe.

Submitted by Nick Giambruno via InternationalMan.com,

“It’s a big club and you ain’t in it!”

I’m often reminded of these words, spoken by the great comedian George Carlin, when I read about the annual World Economic Forum meeting in Davos, Switzerland.

As the in-out debate on the future of Britain’s membership of the European Union seems to favour a Brexit outcome – the pound sterling has fallen against the U.S. dollar.  The British pound fell against the dollar due to very real fears that Britain will vote to leave Europe in the June 23 referendum. Telesurtv.net reports: The sterling fell to a near seven-year low during the session after popular London Mayor Boris Johnson said he would campaign to leave the EU ahead of a June 23 referendum.