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Can you smell the fear? Right now world financial markets are visibly nervous and many are worried that Wall Street is about to go into panic mode. It really is eerie how 2011 is shaping up to be so similar to 2008.
Click here to see the signs >
Major Wall Street banks are laying off workers in droves, oil prices are at very high levels, pessimism is permeating the financial markets, debt ratings are being downgraded all over the place and consumer confidence is stunningly low.
Sadly, none of the fundamental things that were wrong with the financial markets back in 2008 have been fixed. In fact, many believe that Wall Street is even more vulnerable now. A ton of bad economic numbers have come pouring in lately and that has put investors in a really sour mood. All it would probably take is for one really significant “trigger event” to take place for Wall Street to go into full-fledged panic mode.
Let us hope and pray that we do not see another Wall Street disaster this year. But right now things do not look promising. Japan has been absolutely devastated, Europe is struggling with the Greek debt crisis and the U.S. economy resembles a dead horse at this point. Meanwhile, world financial markets are getting more bad news on an almost daily basis. Many investors are holding their breath and hoping that a worst case scenario does not play out.
The following are 10 signs that Wall Street is about to go into panic mode….
OPEC announced oil production levels will not be raised which will likely increase prices in the coming weeks. For the first time since 2008, U.S. energy expenditures have reached 9% of GDP
Moody's recently warned that it may downgrade the debt ratings of Bank of America, Citigroup and Wells Fargo
Once again, let's hope that financial disaster can be averted for as long as possible. The last thing the United States needs right now is another major crisis.
America has been hit by a whole series of natural disasters in 2011. We have seen unprecedented tornadoes, historic flooding along the Mississippi River, and horrible wildfires in Texas and in Arizona.
Thousands upon thousands of American families are deeply suffering tonight.
Dave Daubenmire recently visited Joplin, Missouri and what he witnessed there was absolutely heartbreaking. Thousands of families there have lost absolutely everything.
But for most Americans, the impact of a particular tragedy fades after the 48-hour news cycle has passed. If the television doesn't tell us that something is important then most of us are not likely to think about it much.
Most Americans think pretty much only of themselves. The vast majority of us are just so busy pursuing our own version of 'the American Dream' that we don't have much time for much else. The love of most Americans has grown cold and most of them are primarily interested in how they can make their own lives better.
But whoever 'dies with the most toys' does not win the game of life. Rather, we should all be seeking to show as much love to others as we possibly can.
The next time the financial markets crash and Wall Street goes into panic mode, there will probably be another string of suicides as a lot of wealthy people watch their wealth evaporate.
Don't let your life be defined by how much money is in your bank account or by how much stuff you own. Life is about so much more than that.
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