The stock markets in the “emerging” world are imploding, their commodity prices are shriveling (a boon for consumers, but a disaster for those lenders and marketeers that bet on them), and they are up to their asses in US loans they won’t be able to pay back (shade of the Latin America collapse of the 1980s, and the Asian implosion of the 1990s…)  Greece is a money pit that the Germans can’t fill, but the Bundesmorons feel that their people can be soaked for another €13 billion (to start.) China’s currency is falling apart and it’s GDP has been based on bogus construction projects, and foreign manufacturers shipping jobs to that country.

Central banks — which snatched control of the markets after the 2007 collapse and have worked tirelessly to prop up the real estate and banking communities at the expense of their citizens — have put to much easy credit in play to people and companies which cannot pay, and have artificially inflated the value of US assets for longer than the last two bubbles that wrecked the global economy (see the Great Depression and dotcom bubble for more on that…) Then there’s this…

And of course most of the major stock market crashes in U.S. history have been in the fall.  Just go back and take a look at what happened in 1929, 1987, 2001 and 2008.

Zero Hedge, admittedly, tends to the apocalyptic in their analyses, but here, they’re not wrong: 23 different markets around the world have tanked, and several of those very important — China, South Korea, Singapore, Taiwan and Thailand are all very important to the cheap production Western companies have been using to lower their costs. Brazil, Peru, and Chile are going to drag an already weakened continent down. Much of the former Eastern Bloc is taking a dump, as well.

It’s only a matter of time before these interlocking events blow a hole in the developed world’s economies. And September — that month most crashes start in — is only a few weeks away.