Since the Great Recession, the U.S. economy has been operating on borrowed time... and the crash could be far worse than anyone imagines.

Dear Reader,

On the morning of October 29, 1929, the Opening Bell of the New York Stock Exchange was drowned out beneath the shouts of panicked traders.

“Sell, sell, sell!” they screamed.

As the day wore on, the Dow tumbled by 11 points…

Then by 23 points…

Then by 48 points.

By the close of the markets at 3 p.m., more than $319 billion worth of the American economy had simply evaporated.

Investors lost their life savings. Rumors of brokers jumping from the windows of New York skyscrapers spread across Wall Street.

And that day – known as Black Tuesday – would be forever marked as the moment the United States began its slide into the Great Depression.

Historians still look back on the crash of 1929 and ask themselves, “Could it have been predicted? Could it have been avoided?”

The answer is, “Yes.”

Because just a few months before, in June, a very strange signal appeared in the markets.

It had never been seen before.

But for anyone who had been looking, it would have told them that trouble was brewing.

Fast forward to the mortgage crisis in 2008.

The collapse of the subprime loan market sent shockwaves through the economy.

In just a period of three weeks, more than $19.2 trillion worth of household wealth had simply been wiped away.

Americans lost their homes, their jobs, and their life savings.

And historians would once again look back and wonder, “Could we have seen it coming?”

The answer is, again, “Yes.”

Because, just a few short months before the housing bubble collapsed, a strange market signal spiked.

It was the same one that had spiked before the Great Depression.

And if you had been looking for it, you would have known what was about to happen.

But it doesn’t stop there.

Before every major financial crisis in American history, including the crash of 1987 and the dot-com bubble, this signal has appeared.

Every time it does, in just a few short months, the economy collapses.

And millions of Americans lose their life savings.

Unfortunately, this signal has just appeared again.

In this short presentation, you will discover exactly what this strange signal is...

Why it appears every time before a massive market collapse…

The unsettling reason why the coming crisis could be much worse than 2008…

But most importantly, you will see the exact steps you need to take during the coming crisis…

To help preserve or even grow your wealth…

And protect your family from the incredible chaos that could be just a few short months away.

If you are 100% satisfied with your financial situation... then you can stop reading.

But if you want to to take the right steps to protect your wealth…

Then I urge you to read every word below.

My name is Mike Ward.

I am the founder and head publisher of Money Morning.

We started more than a decade ago, at the height of the Great Recession.

Our small team of analysts, editors, and ex-Wall Street insiders helped our readers navigate the chaos of the financial crisis in 2008…

And our commitment to radical truth and market opportunities has allowed us to become the #1 independent financial research firm in the world.

We don’t manage money, and we aren’t beholden to corporate sponsors.

Our success is derived solely from the success of our readers.

And in a time where six massive corporations control 90% of the media…

I believe that an independent voice like ours is the best protection you can have for your wealth.

Our readers seem to agree.

Over the last decade, we have grown from a small guerilla outfit to a team of more than 200 talented individuals…

Headquartered in Baltimore, Maryland, and Charleston, South Carolina. 

We now reach more than 2 million+ daily readers across America…

And help them grow their wealth safely and securely.

My company pays hundreds of thousands of dollars every year for up-to-the-second data from sources like Bloomberg, Thomson Reuters, and Statista.

We track millions of data points, market metrics, and indicators…

And we employ a full-time team of over 200 people to analyze all of it.

On most days, in most years, in most financial markets, this data is incredibly valuable in deciding where to invest your hard-earned money.

But this is not one of those days.

In fact, out of the millions of data points ranging from company earnings per share, to technical momentum indicators, to number of cars in store parking lots…

I’m only looking at one right now.

The strange indicator I mentioned earlier.

It’s called the Shiller CAPE Index.

It was pioneered by Robert Shiller, a Nobel Laureate and professor of economics at Yale. But you don’t need an Ivy League degree to understand it.

Simply put, the higher The CAPE Ratio is, the more the market is overvalued.

A normal CAPE is around 16 and a great CAPE score could be as low as 4.

Which means that you pay $4 in stock for every $1 of earnings.

When the CAPE Ratio is high, it means that people are speculating on the markets, using credit and leverage to buy securities, and driving up the price past their realistic values.

Right now, the ratio is at 31.49 – nearly the highest it’s ever been in human history.

Which means for every $31 you spend to buy a stock in the markets, the company is only earning about $1.

That’s incredibly overvalued, and the stock market is more expensive now than it was before the Great Depression.

More expensive than it was before the crash of 1987.

And more expensive than it was right before the mortgage crisis of 2008.

Right now, The CAPE Ratio is positively screaming that we are on the verge of a massive crash.

If you’re the type of person who watches this presentation, I’m afraid that may not surprise you.

After all, does a good economy leave 48% of Americans living in danger of poverty?

Does a good economy mean, according to the U.S. Census Bureau, more Americans age 18-34 live with their parents than with a spouse?

Does a good economy mean almost 60% of Americans can’t even cover a $1,000 emergency expense?

The answer is most definitely not.

And the effects of our underperforming and overheated economy are manifesting in immense social unrest.

From West Virginia teacher walkouts to Florida school shootings…

To the rise of violent protesters like Antifa and the re-emergence of white Supremacist groups.

But what might not be as plain to see is the true magnitude of the upcoming crash.

It’s going to be much bigger than the dot-com bubble of 2000…

Much bigger than the mortgage crisis of 2008…

And if you don’t take steps to protect yourself and your family, you could lose everything.

Because contrary to what the fake media says:

America never recovered from the Great Recession.

And an economic event of such magnitude is about to occur...

That it could irreparably fracture America as we know it.

No one will admit that this future could be rapidly approaching.


The bottom line is:

If you want to protect your family, you need to act now.

The majority of folks don’t see what’s coming.

Even the few who DO see it… they aren’t preparing the right way.

Because here’s the truth:

The CAPE index is screaming that America is falling headfirst into an economic disaster.

And while many folks expect another major market crash…

The place we’re crashing from is much lower than anyone realizes.

But if you’re paying attention – the signs are new every day.

The signs grow stronger every week, as the social fabric that has kept America so strong slowly gets torn to shreds.

Once-peaceful communities are now being rocked by vicious mass shootings…

Immigrants are flooding towns with violence, drugs, and crime…

NFL players refuse to stand for the National Anthem, even as their fans pay for ever-more expensive tickets to see them play…

And Congress, more divided than ever, can barely keep the doors open.

These may all seem like unrelated events, but in fact, they are all side-effects of the same disease.

A growing divide between those who work hard and build our society – “givers” – and those who expect everything to be handed to them: “takers.”

Politicians call it “wealth inequality” and paint it as the root of all our social ills.

But there are takers on both sides of the wealth divide.

Many of the so-called victims of wealth inequality are the same ones who bought massive homes with no income in 2008, setting the stage for the mortgage crisis.

The same folks whose children are now taking on massive debt to go to expensive private colleges and study poetry for five years.

The rich takers are doing just fine as they enjoy interest payments on this outrageous debt…

And the poor takers are enjoying luxuries they would never be able to otherwise afford.

But for the rest of us…

The givers who work hard…

It’s hard just to pay bills.

It wasn’t always this way.

We can all agree that in 1950, America was in its golden age.

We were still riding our victory over fascism, and helping to spread democracy throughout the world.

We had a national identity and purpose, and worked together to better our communities.

But then, something changed.

The American economy continued to grow, but with each leap forward, it seemed like there was less and less left over for the regular worker.

If you look at this chart of employee wages over the past few decades, you’ll see that even with a growing economy, American workers have actually been getting poorer.

America has always been a middle-class nation.

The American Dream – of pulling yourself up through hard work, and becoming anything you wanted to be – is the foundation of our national spirit.

But that dream is fading rapidly.

Because every year, our middle class is squeezed harder and harder, to the point where they can’t dream of a better future…

Because they are too busy just trying to survive.

In fact, the average American had $17,886 LESS income in 2007 than they did in 1980.

Think about that. That’s a 27-year difference.

What would you do with almost $20,000 in extra income every year?

You could have bought a new car, or put a down-payment on a new home.

You almost certainly wouldn’t be in as much debt…

And you would probably have enough money saved to cover a medical emergency.

But in reality, this isn’t the case.

And while many Americans are working incredibly hard just to make ends meet – a few with no income whatsoever are living the dream.

I’m talking about the millions of college students who have run over $1 trillion in debt.

But they’ve had to take on truly mind-numbing amounts of debt to fuel their education.

They now owe more than $1.48 trillion – which breaks down to an average of $37,172 per student.

But it doesn’t stop there.

Credit card debt is also higher than it’s ever been before at $1.02 trillion.

It’s a win-win for takers on both sides.

Takers who make little money and pay little in taxes can now put their luxuries on credit cards and enormous student loan burdens.

And the heavily regulated bankers on the other end make enormous profits from the interest on this debt.

But when we find out that the heavily indebted “takers” can’t pay up – it’s the middle-class workers who do pay their bills that will ultimately be punished.

That is NOT the America we were born in.

But it’s the America we’re in today.

And unfortunately, it’s about to get much, much worse.

Because in 2008, the U.S. economy was exposed for what it truly was: a flimsy structure propped up by massive amounts of credit and debt.

But rather than fix what was broken, the Obama administration set the stage for an even bigger economic collapse.

A collapse that was 10 years in the making, and very soon, will strike at the heart of America.

I will explain all of it in just a moment…

As well as show you how you can save yourself and your family from the new financial bloodbath.

But before I do, I still need to show you the real reason why middle class Americans are falling behind.

Let me ask you this:

Does the world feel cheaper than it did 20 years ago?

If you’re like most Americans, the answer is probably no.

It used to be that purchasing a home was the God-given right of every American.

But not anymore.

Now the average home price is over $315,000.

I don’t know about you, but I think everyone should have the ability to provide a home for their family, as long as they’re willing to work hard.

But no one can afford those prices – they’re ridiculous.

Instead, more Americans are being forced to rent than at any other time in the last 50 years.

But it’s not just housing.

Everything, from food, to cars, to healthcare, to school, has skyrocketed in price.

Even as your wages have remained the same.

The reason is simple:

Fake money.

In 1971, President Nixon took us off of the gold standard.

Which meant our dollar was no longer attached to hard assets.

It was just paper… and the Fed could print as much of it as they wanted to.

Now, in any healthy economy, inflation will always rise.

But it’s steady – gradual.

And wages are supposed to rise along with it.

That’s what was happening up until 1971.

But then the dollar was taken off the gold standard.

Again, this is great for takers.

Takers who take out huge loans benefit, because as money is devalued, they have much less to pay back.

And it’s great for the takers who take interest on those loans because they make huge profits.

But it’s horrible for the value of the dollar:

Of course, this wouldn’t have been a bad thing if wages kept up.

And they should have.

Between 1948 and 2013, American workers’ productivity improved many times over.

Which means we are doing more, in less time.

74% more, to be precise.

So if you’re working a typical 40-hour week, you should be making almost two times as much money as you are now!

But you’re not.

Instead, the average compensation only rose by 9.2%, at most.

This is terrific for the folks who have massive credit card bills and student loans – because as the value of money plummets, so does the value of what they owe.

But for hardworking folks who try to save and invest – it’s a disaster.

And you can only punish the workers, the “givers” for so long before the whole thing falls apart.

I know what I’m saying is at odds with the long bull market we’ve seen.

With the gains trumpeted by television talking heads.

But keep in mind that 93% of Obama’s recovery money went straight to “takers.”

It didn’t go to the plumbers and electricians and engineers who actually build this society…

It went to the bankers, the mortgage companies, Sallie Mae, and Freddie Mac.

When it was all said and done, only pennies were left over for regular Americans.

America… the real America… the one you and I live in…


Never truly recovered from the last crisis.

It was all a mirage.

The economic recovery – supposedly driven by market gains – is as flimsy as a stage prop.

It looks real from afar.

But it can be knocked down with just the slightest touch.

That’s because the money driving it isn’t real.

The 1% took the stimulus money, used it to borrow even more money, and then dumped it into the market.

According to the New York Stock Exchange itself, there was $513 billion in margin debt for $154 billion in cash accounts.

That means for almost every single dollar in the market, there was more than $3 of imaginary, borrowed money.

And that $513 billion in debt doesn’t represent real growth.

It doesn’t represent innovative new products or expansion into foreign markets.

It simply represents a casino culture of banks eager to squeeze out a few dollars in interest as long as they can.

So all of those numbers that you see on TV are just vapors.

An illusion.

Arbitrary numbers on a screen.

And it isn’t the real economy.

The real economy – the one you and I live in – the one that isn’t being propped up by a group of government cronies armed with a printing press – is right here.

And this divide – between reality and imaginary money – can’t be sustained much longer.

Experts on both sides of the aisle agree that a crash is coming… likely a big one.

But they don’t understand just how big…

Because they’re not taking into account the false recovery.

And if we crash from that true level, it will be so much bigger than people expect.

Mark Spitznagel agrees.

He’s made over $1 billion in profits for his Universa hedge fund by betting against the U.S. economy right as it collapsed.

He even predicted the 20% correction of 2011, almost down to the day.

Here’s what he said recently:

“We are … living in the age of government-mandated financial repression – which has created a forced, false financial stability.

Thanks to almost a decade of unprecedented market interventions by global central banks (which have collectively acquired assets totaling over $20 trillion), everywhere you look there is repression of yields [and] repression of market volatility, [Which leads to]Exploding asset valuations (to heights not seen since shortly before past historic crashes), financial-engineered debt, leverage, stock-buybacks, cryptocurrency-insanity, “short volatility” and all manner of reckless yield-chasing investment schemes.

This is an age of massive artificial economic imbalances and systemic risks.”

Spitznagel sees what’s coming:

We are long overdue for another crash of epic proportions…


Only this time, we won’t be crashing from the heights of a thriving economy.


We’ll be crashing from the true lows.

Right now, the same series of events are unfolding that took place in 2008.

Namely, too much debt.

Back then, it was mortgage debt.

And when the default rates on those mortgages hit 4%…

That was enough to send America’s economy into a tailspin.

But fast forward a decade, and Americans have nearly piled on another $1 trillion in additional debt.

That time it was mortgages.

This time it’s rising student loans.

And just like 2008, defaults on those loans have begun to roll in.

Except they’re much higher than anything we saw during the mortgage crisis.

During the Great Recession, the mortgage default rate was only 4%.

But default rates on student loans are already at 10.1%.

That’s nearly three times as high.

And once again, bankers have figured out a way to profit off of it.

ABC reports that:

“Investment bankers on Wall Street are once again ‘cutting and dicing up [student loans] into collateralized loan obligations.’"

These derivatives have been rolled up into a market worth more than $8 trillion.

For government insiders, the writing is on the wall.

Former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair agrees, saying the unfolding student loan debt defaults are set to “drag” the U.S. economy into a tailspin.

According to an expert at the Consumer Financial Protection Bureau, we have:

“…swapped a housing debt bubble for a student loan bubble.”

And this bubble now stands at a staggering $1.57 trillion.

But remember that Wall Street is effectively leveraged at a 3:1 ratio.

Which means that if a $1 trillion domino falls, $3 trillion in borrowed money could evaporate with it.

That’s over 20% of the entire U.S. GDP.

Gone. Just like that.

Citibank calls our present situation:

“Eerily reminiscent of the mortgage crisis.”

And unfortunately…

Even if you and your family have nothing to do with student loans or higher education…

You're already beginning to feel the shockwaves after a quarter of the U.S. economy has evaporated!

The ability of our propped-up system to sustain itself could be reaching its end.

And if you’ve looked at the DOW recently, you’ve seen for yourself.

On March 16, 2020, the DOW lost 2,997 points in a single day.

That was the largest single-day drop in history. Larger than Black Monday during the Great Depression…

Larger than any day during the dot-com bubble…

And larger than any day during the Great Recession.

Reality is finally catching up with us. 

I expect this data to emerge in the next six months to a year – but frankly it could be much sooner.

And just like in 2008, all the major banks, from Wells Fargo, to Goldman Sachs, to Deutsche Bank, will see the money they used to make these risky bets simply evaporate.

And once the dominoes start falling, we will see a collapse the likes of which our current system simply can’t withstand.

Here’s how veteran hedge fund manager Jim Rogers puts it in a recent interview with Fortune Magazine:

“The higher education bubble (one-sixth of the U.S. economy) will likely burst with the force of all previous catastrophes combined – a shock wave so sudden, so large, that it gathers the full force of the savings and loan, insurance, energy, tech, and mortgage crashes, creating a blockbuster-level perfect storm.”

Financial insiders already see it coming.

Because when you combine a real crash… with a false recovery…

You end up with a situation that could easily rank among the greatest financial collapses in human history.

But that doesn’t mean you have to go it alone.

For a limited time, I’m opening up spots in our flagship service, Money Map Report.

And I’d like you to be among those readers.

This means you’ll get my latest research and recommendations straight to your inbox, along with…

Plus, you’ll be joining the ranks of folks like Glenn N., who says:

“MMR is the best service I subscribe to. I really like your communication style and the regular contact via email. The Newsletter is great. I’m a lifetime subscriber and look forward to future success. Thank you for such a great service and the investing insight.”

Nothing makes me prouder than getting feedback like that.

Even though I’ve long been financially independent – no monetary reward will come close to knowing that our organization has helped folks avoid the carnage of a massive crash.

But that’s not all. When you become a Money Map Report subscriber, I’ll also send you a comprehensive report I call…

The Great Reckoning Survival Guide:
How to Protect Yourself & Your Family from the Coming Crisis.

It contains everything you need to know about the coming crisis.

How it’s been building for over a decade…

Why our modern system is broken…

And accordingly, why the next crash is inevitable and unavoidable.

But if you’re smart enough to see what’s coming, there is a series of protective steps you can take before it strikes.

Steps I believe you MUST take.

This book reveals all the dirty details of how we got to this point – the history – the statistics – it even includes interviews from my exclusive network of financial insiders.

I can promise you, whether you’re a multi-millionaire or just getting started in your financial journey that you’re going to want to see what is in this book.

The first chapter alone could save you from financial ruin.

Entitled “12 Stocks to Dump Immediately,” this is a comprehensive breakdown of investments that are in grave danger of being zeroed out in a crisis.

And you will be shocked to see which companies made the list.

In fact, you probably own some of them right now.

It includes a selection of the most widely held stocks in the retirement accounts and 401(k)s of everyday Americans.

Now, you may not own all of the stocks on this list…

But while most investors will run towards them in a crash, you have to resist that temptation.

Because they will only provide a false sense of safety.

I also share which of these 12 companies have hit “Red Alert” status – meaning that if you’re holding them today, you should get rid of them tomorrow because they’re that close to ruin.

And finally, you’ll see the one company that you must NOT sell during a crash – because it may come out the other end even stronger.

In fact, a crash could make its price a must-buy.

This chapter could be the difference between coming out of the Reckoning with nothing – and coming out with actual profits.

But we’re just getting started.

Because once you’ve unloaded all of your portfolio’s deadweight, we’ll reveal how you can get into what I call“26(f) Income Miracles.”

They’re little-known investment vehicles that rose to prominence during the Great Depression.

And have since proven to be one of the best possible places for your money during a crash.

For decades, these income-boosters have been used by the wealthy to boost their fortunes – and now, you can do the same.

Then, Chapter Two, which is one of my favorites, focuses on “10X plays.”

These plays are rooted in a bearish trading strategy championed by my colleague, hedge-fund legend Shah Gilani.

It’s a way to bet against companies WITHOUT having to short them.

So you limit your risk without sacrificing the chance to make huge gains.

The Great Reckoning will have no shortage of companies for you to bet against, and will give you all the tools to do it.

But you don’t have to pick your own targets…

Because you will also discover a very specific sector of the market that is on life support as we speak – and will be DEVASTATED during the crash.

A few well-timed carbon trades against those companies and you could be looking at a six- or seven-figure payday.

Or if you so choose, you can simply unload anything “toxic” in your portfolio, and load up on gold using our insider’s buying tricks.

No matter what, as long as you take the protective measures outlined here, I expect you to survive the Great Reckoning better than 99% of folks.

That’s why I want to send it to you today after subscribing to the Money Map Report for just $39…

But I want to make one thing very clear:

There is a set of deeply unfortunate circumstances unfolding…

And the country we love…

Which is already starting to look dramatically different from the America of our childhoods…

May not be around much longer.

But just as the fall of the Roman Empire led to modern day Italy, something WILL rise from the ashes.

I just want to make sure that you rise along with it.

What will a Roman-style collapse look like in America?

When the Great Reckoning does come, it can be devastating.

I’m not talking about a blood-in-the-streets situation after an atomic bomb…

But what I am talking about is in some ways worse.

A slow economic malaise.

Social Security payments becoming worthless in the face of exponential inflation…

And the public stock market drying up as all the new companies stay privately held by billionaires and their financier friends.

I worry that America will soon mirror the situation in Italy, where the elite live lives of luxury in places like Milan or Venice…

While the government, according to watchdog group Transparency International, “the most corrupt in the Eurozone”…

And the common man barely scrapes by.

I worry that America will become a tale of two nations – one wealthy, one not.

Where hard work will no longer be enough to rise above where you are now.

We’ve already seen the signs of it.

According to Stanford University, social mobility in the U.S. is far lower than in many other developed countries.

Which means Americans are rapidly losing the ability to lift themselves out of the class they were born in. 

The true unemployment numbers are far worse than anyone knows.

After all, the government only reports the people who are actively looking for a job.

But if you include the Americans who have given up and are no longer looking…

More than 5 million are jobless.

And every single American who still works hard to make a living is shouldering the tax burden of three people. 

That is not what I want America to look like.

But if I’m being brutally honest, I don’t know if it can be stopped.

However, you, and your family, don’t have to fall with it.

If this situation is inevitable, then you must take actions now that can help put yourself in the wealthy 1%.

So you will not have to suffer with the impoverished masses.

I realize I am painting a stark picture.

And I realize you may not agree with me completely.

But it is beyond clear that we live in a different America than our fathers and grandfathers did…

And this America is facing a serious reckoning.

So if you think there is even a 1% chance that I’m right, you have a duty to your family and community to read this book.

Today, it will only cost you $39.

But the value you will get from just one chapter will be many times that amount.

And it’s available nowhere else.

But you need to get your copy today.

The Great Reckoning Survival Guide is only available to readers of this short presentation.

It’s not available in bookstores or on Amazon.

But I suggest you share it with everyone you know.

Because their lives could be in the balance.

When you order today, you’ll get an electronic copy of The Great Reckoning Survival Guide delivered instantly to your inbox.

But I’m also going to send you another very special, free report.

The Two Investments People Will Be DESPERATE for in a Collapse.

Even when a worst-case scenario unfolds, people won't stop using essential goods and services.

And water is the most essential good of all. This report shares the best way to capitalize on an investment that is already beginning to take off.

But it won’t just be water that people are desperate for in a collapse.

That’s why I’ll also show you how to profit from companies with “hard-asset escape plans.”

That means companies tapped into railroads, energy, freight, coal, wheat, corn, steel, and cattle.

And in this report I share the top six companies in the world who have built these stable, hard assets directly into their business models.

Why am I willing to send this report to you for free?

It’s simple.

This is my job.

We don’t accept money to advertise/recommend specific companies or manage money.

So I have no incentive to tell anything but the truth, and give my readers the best possible guidance.

While I consider The Great Reckoning Survival Guide to be the most important thing we’ve ever created, our team of experts have been helping readers navigate the markets for years with the Money Map Report subscription service.

And, I’d like you to be among those readers.

So along with your copy of The Great Reckoning Survival Guide, I’m going to send you a free 60-day trial to Money Map Report.

Let’s to be clear:

If you’re not completely satisfied with your subscription to the Money Map Report and The Great Reckoning Survival Guide, I will happily send you back every penny.

But for those of you who are ready to take action, and to step up, I’ve made things incredibly easy for you.

Just click the button below.

This link will take you to a secure order form where you’ll have a chance to review everything.

Unfortunately, I believe an inevitable market collapse is rapidly approaching.

But if you aren’t convinced you need to protect yourself over the next 60 days, I will gladly refund you every penny for the book.

So you’re not risking a single dollar today.

All you have to do is call.

So order now.



Mike Ward
Founder and Head Publisher, Money Morning

P.S. Soaring market volatility means you can profit before the big reckoning comes. I call this opportunity The Long Chaos Technique and a former Israeli soldier used a similar method to turn $200,000 into over $17 million – during the market’s worst week in over two years.

My team has prepared a special report breaking down exactly how he did it, and how you can do the same, starting with as little as $22.

I’ll be sending out a limited number of this special “Long Chaos” report – and if you share my belief that stability is a thing of the past – this is a MUST-READ.

I’ll include a copy of this report alongside The Great Reckoning Survival Guide for the first 500 purchasers – so ensure you get one by clicking the button below.