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The U.S. Economy Is Going Down Hard & 2008 Was A Picnic Compared To What's Coming.

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  • reynolds
    Senior Member
    • Oct 2018
    • 1981

    The U.S. Economy Is Going Down Hard & 2008 Was A Picnic Compared To What's Coming.


    Unemployment, Debt, Reckless Spending: 2008 Crash Was a Sunday Picnic Compared to What's Coming

    I have so many bad economic numbers to share with you that I don’t even know where to start.
    I had anticipated that the U.S. economic slowdown would accelerate during the fourth quarter of 2019, and that is precisely what has happened. The Federal Reserve is trying to do all that it can to keep us from officially slipping into a recession, and the federal government is literally spending money as if tomorrow will never come, but all of that intervention has not been enough to reverse our economic momentum. We are really starting to see conditions begin to deteriorate very rapidly now, and 2020 is already shaping up to be the most pivotal year for the U.S. economy since 2008. According to CBS News, a major new study that was just released found that 70 percent of all Americans are struggling financially… Many Americans remain in precarious financial shape even as the economy continues to grow, with 7 of 10 saying they struggling with at least one aspect of financial stability, such as paying bills or saving money

    Yes, the employment situation in this country is still relatively stable for the moment, but the truth is that most of the “jobs” that have been “created” in recent years actually pay very little. If you can believe it, 58 million jobs in the United States currently pay less than $793 a week…There are now roughly 105 million production and nonsupervisory jobs in the U.S. That’s 83 percent of all private sector jobs . And more than half of them — 58 million — pay less than the average weekly U.S. wage of $793. Many of these jobs don’t offer health care or other benefits. In fact, the New York Fed just announced that serious auto loan delinquencies in the United States have hit a brand new record high. The following comes from Wolf Richter…Meanwhile, the bad economic numbers just keep rolling in. Here are a few new data points that we have gotten since my last article…

    We just witnessed the worst decline for U.S. industrial production since 2009. Sears has announced that they will be laying off hundreds of workers as they continue to close stores at a very rapid pace. If you can believe it, the latest forecast from the Atlanta Fed is projecting a fourth quarter growth rate of just 0.3 percent… The Federal Reserve has been attempting to bolster the economy by cutting interest rates and by pumping massive amounts of money into the financial system. They are telling us that this new round of money creation is “not QE”, but from the very beginning I have been pointing out that it really is more quantitative easing, and many in the financial world are starting to acknowledge this reality… And many people believe that what we have seen so far is just the tip of the iceberg. In fact, trends forecaster Gerald Celente is convinced that we are heading for “the Greatest Depression”… Read more ...
  • reynolds
    Senior Member
    • Oct 2018
    • 1981

    #2


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    • reynolds
      Senior Member
      • Oct 2018
      • 1981

      #3
      U.S. Economic Crisis




      Modern U.S. economic history predicts the next crisis will occur between 2019 and 2021. That doesn't tell you where it will come from, what the result will be, and how to defend yourself. What would have protected you in previous crises might be the worst thing to do in the next one.

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