12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost HereMichael Snyder The truth is that the financial crash of 2008 was just the first wave of our economic troubles. We have not even come close to recovering from that wave, and the next wave of the economic collapse is rapidly approaching. Our economy is like a giant sand castle that has been built on a foundation of debt and toilet paper currency. As each wave of the crisis hits us, the solutions that our leaders will present to us will involve even more debt and even more money printing. And each time, those solutions will only make our problems even worse. Right now, events are unfolding in Europe and in the United States that are pushing us toward the next major crisis moment. I sincerely hope that we have some more time before the next crisis overwhelms us, but as you will see, time is rapidly running out. The following are 12 things that just happened that show the next wave of the economic collapse is almost here #1 According to TrimTabs CEO Charles Biderman, corporate insider purchases of stock have hit an all-time low, and the ratio of corporate insider selling to corporate insider buying has now reached an astounding 50 to 1. #3 In a stunning move, Michigan Governor Rick Snyder says that he will appoint an emergency financial manager to take care of Detroits financial affairs If this does not work, Detroit will almost certainly have to declare bankruptcy. If that happens, it will be the largest municipal bankruptcy in U.S. history. #4 On Friday it was announced that the unemployment rate in Italy had risen to 11.7 percent. That was a huge jump from 11.3 percent the previous month, and Italy now has the highest unemployment rate that it has experienced in 21 years. #5 The youth unemployment rate in Italy has risen to a new all-time record high of 38.7 percent. #6 On Friday it was announced that the unemployment rate in the eurozone as a whole had just hit a brand new record high of 11.9 percent. #7 On Friday it was announced that the unemployment rate in Greece has now reached 27 percent, and it is being projected that it will reach30 percent by the end of the year. #8 The youth unemployment rate in Greece is now an almost unbelievable 59.4 percent. #9 On Saturday, hundreds of thousands of protesters filled the streets of Lisbon and other Portuguese cities to protest the austerity measures that are being imposed upon them. It was reportedly the largest protest in the history of Portugal. #10 According to Goldman Sachs, bank deposits declined all over Europe during the month of January. #11 Over the weekend, the deputy governor of Chinas central bank declared that China is prepared for a currency war #12 Italy is an economic basket case at this point, and the political gridlock in Italy is certainly not helping matters. Former comedian Beppe Grillos party could potentially tip the balance of power one way or the other in Italy, and over the weekend he made some comments that are really shaking things up over in Europe. For one thing, he is suggesting that Italy should hold a referendum on the euro In addition, Grillo is also suggesting that Italys debt has gotten so large that renegotiation is the only option And of course government debt has taken center stage in the United States as well. The sequester cuts have now gone into effect, and they will definitely have an effect on the U.S. economy. Of course that effect will not be nearly as dramatic as many Democrats are suggesting, but without a doubt those cuts will cause the U.S. economy to slow down a bit. And of course the U.S. economy has already been showing plenty of signs of slowing down lately. If you doubt this, please see my previous article entitled Consumer Spending Drought: 16 Signs That The Middle Class Is Running Out Of Money. So what comes next? Well, everyone should keep watching Europe very closely, and it will also be important to keep an eye on Wall Street. There are a whole bunch of indications that the stock market is at or near a peak. For example, just check out what one prominent stock market analyst recently had to say Sadly, most people will continue to deny that anything is wrong until it is far too late. Time is running out, and I hope that you are getting ready. So what do you think? How much time do you believe that we have left before the next wave of the economic collapse strikes? Please feel free to post a comment with your thoughts below This article first appeared here at the Economic Collapse Blog. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. 