Economic collapse news. Recent sharp selloffs across global financial markets are probably the first of many, as investors adjust to a world of tighter monetary conditions and the threat of economic downturn, the Bank of International Settlements (BIS) said on Sunday, Reuters reports. The “market tensions we saw during this quarter were not an isolated event,” Claudio Borio, head of the monetary and economic department at the BIS. We are also beginning to see the Bond market unravel, in particular the growing volume of bonds downgraded into bbb status. Either way as He put it so well Dark Clouds are Gathering.