The Sears Bankruptcy Is Just the Prelude for the Greatest Economic Crisis in 75 Years

You could see the bankruptcy of Sears coming from a mile away, but it still stings to see the iconic retailer collapse.

Sears Holdings Corp. (NASDAQ: SHLD) couldn’t make a $134 million debt payment due today, and that was the straw that broke the camel’s back for the 132-year-old company.

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The historic retailer filed for Chapter 11 bankruptcy this morning.

The company intends to stay in business – but ask Sports Authority and RadioShack how trying to stay open while filing for bankruptcy went.

But Sears’ bankruptcy could be the canary in the coal mine for a much, much bigger crisis.

You see, iconic retailers going bankrupt is just the start of how bad things could get…

The greatest economic crisis in 75 years could change everything.

It will drive millions of seniors to the brink of bankruptcy and dependency. And beyond.

Trillions of dollars in home mortgages, auto loans, and credit cards granted to struggling pensioners will default. The companies behind these loans will stumble and fall.

Corporate revenue and earnings will plunge – first, as seniors stop spending and secondly, as millions of younger consumers and investors read the writing on the wall and run for cover.

Stock prices will implode. The bond market will crash and burn… interest rates will skyrocket… the entire economy will grind to a virtual standstill.

Just like it did back in 1929.

Time Is Almost Up: The greatest economic catastrophe is about to blindside investors – find out everything you need to know to weather this market storm. Click here now

And believe it or not, that’s actually the most optimistic view you’re likely to see from any serious analyst at this point.

The news is shocking, to say the least. For the second time in 18 years, the incompetent and corrupt fools who run some of America’s largest financial institutions are only a few weeks away from bringing the U.S. economy to its knees.

They have conspired with Washington legislators and regulators to sentence the entire U.S. economy to a crisis of almost biblical proportions.

Once again, they have lit the fuse on a financial disaster that will cost everyday people trillions of dollars.

This time though, it’s America’s estimated 70,000 pension funds that could be at risk…

Financial Doomsday – Oct. 31, 2018.

As of the end of last year – 2017 – U.S. pension fund assets were $25.19 trillion, or roughly two times the size of the shadow-banking funding we’ve just mentioned.

Our greatest national nightmare has already begun.

U.S. pension plans are already defaulting left and right… they’re breaking the promises they made to current and future retirees.

So, many of this nation’s 31 million pensioners are already having their monthly income cut by up to 90% and even more in some cases.

This coming market crash is going to plunge even the hottest stocks on Wall Street by 50%, cratering companies in a matter of minutes.

Millions of Americans will go nearly bankrupt, including YOU… unless you take these few simple steps now to protect yourself.

You need to access all the details right here.

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The post The Sears Bankruptcy Is Just the Prelude for the Greatest Economic Crisis in 75 Years appeared first on Money Morning – We Make Investing Profitable.

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