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Economic Activity Is Slowing Down Much Faster Than The Experts Anticipated

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Locomotive - Public DomainWe have not seen global economic activity fall off this rapidly since the great recession of 2008.  Manufacturing activity is imploding all over the planet, global trade is slowing down at a pace that is extremely alarming, and the Baltic Dry Index just hit another brand new all-time record low.  If the “real economy” consists of people making, selling and shipping stuff, then it is in incredibly bad shape.  Here in the United States, the dismal economic numbers continue to stun all of the experts.  For example, on Monday we learned that the Texas general business activity index just hit a six year low

Economic activity in Texas keeps getting worse.

The general business activity index out Monday from the Dallas Federal Reserve for January was -34.6, a six-year low and much worse than economists had expected.

The forecast for the monthly index was -14, following a December reading of -21.6 (revised from -20.1) that was also worse than expected.

One could perhaps argue that this is to be expected in Texas because of the collapse in the price of oil.

But what about the very unusual things that we are seeing in other areas of the country?  In Erwin, Tennessee, a rail terminal that had been continuously operating for 135 years was just permanently shut down, and hundreds of workers now find themselves without a job

The last coal train to leave Erwin rolled slowly out of town just after at 3 p.m. Thursday, less than eight hours after CSX Transportation employees heard the news that rocked all of Unicoi County.

“Its a hard pill to swallow,”  county Mayor Greg Lynch said. “Of course, we heard rumors that something was coming down. But never in my wildest dreams did I imagine they would just shut down and leave town.”

CSX delivered the news of its decision to immediately close Erwin’s 175-acre rail yard and abruptly end the employment of the facility’s 300 workers in a series of meetings with employees conducted at the start of their morning shifts.

It has been said that if you want to know what is really happening with the U.S. economy, just watch the railroads.

And right now, rail traffic all over the nation is falling to depressingly low levels.

One of Steve Quayle’s readers says that rail traffic in Colorado has slowed down so much that hundreds of engines are just sitting there on the tracks

With regard to the train freight article this morning, we have in Grand Junction, CO., literally hundreds of engines sidelined on the tracks. They are three deep on some tracks and easily number over 250. I have never seen this many engines on the tracks before and I feel this is just another indicator of the slowdown in shipping.

In case you are tempted to think that this is just anecdotal evidence, I want you to consider what is happening to the largest railroad company in the United States.

According to Wolf Richter, operating revenues for Union Pacific were down 15 percent last year…

Union Pacific, the largest US railroad, reported awful fourth-quarter earnings Thursday evening. Operating revenues plummeted 15% year over year, and net income dropped 22%.

It was broad-based: The only category where revenues rose was automotive (+1%). Otherwise, revenues fell: Chemicals (-7%), Agricultural Products (-12%), Intermodal containers (-14%), Industrial Products (-23%), and Coal (-31%). Shipment of crude plunged 42%.

So Union Pacific did what American companies do best: it laid off 3,900 people last year.

And of course we can see evidence of the emerging economic slowdown all around us pretty much wherever we look.  Sprint just laid off 8 percent of its workforce, GoPro is letting go 7 percent of its workers,  and Wal-Mart just announced the closure of 269 stores.

But instead of dealing with reality, there are a lot of irrational optimists that insist that things will start bouncing back any day now.  For instance, CNBC is reporting that Goldman Sachs is forecasting that the S&P 500 will end up finishing the year back at 2,100…

Goldman, though, is sticking with its forecast that the S&P 500 will rebound and finish the year at 2,100, a rise of about 11 percent from current levels but basically no net gain for the full year.

It is easy to say something like that, but the actions of the big banks speak louder than words.

Most people don’t realize this, but several of the “too big to fail” banks laid off thousands of workers in 2015

Bank of America and Citigroup reduced headcount the most, eliminating about 20,000 staffers between them, according to fourth-quarter earnings reports from each bank. The respective moves amount to 4.6 percent and 4 percent fewer workers at the banks. JPMorgan Chase reported in its earnings that it employs 6,700 fewer workers than a year ago.

And guess what?

The “too big to fail” banks did the exact same thing just before the great stock market crash of 2008.

When are people going to finally start understanding that we have a major league crisis on our hands?

Since June 2015, approximately 15 trillion dollars of global stock market wealth has been wiped out.  After a brief respite at the end of last week, it appears that the global financial crisis is getting ready to accelerate once again.

On Monday, the price of oil dipped back under 30 dollars, the Dow was down another 208 points, and the Nikkei is currently down another 389 points in early trading.

Somewhere close to one-fifth of all global stock market wealth has already been wiped out.

We only have about four-fifths left.

But in the end, I can talk about these numbers until I am blue in the face and some people will still not get prepared.

Some people have so much faith in Barack Obama, the Federal Reserve and the mainstream media that they would literally follow them off a cliff.

By now, most of the people that believe that they should prepare for the coming crisis have already gotten prepared, and most of those that want to believe that everything is going to work out just fine somehow are never going to get prepared anyway.

What is going to happen is going to happen, and tens of millions of people are going to end up bitterly regretting not listening to the warnings when they still had the chance.

  • Mondobeyondo

    The real economy does indeed consist of people making, selling and shipping stuff. NOT people buying stuff!

    In order to buy stuff, someone had to make the stuff, ship the stuff to the store, and the merchant has to sell the stuff to you. Our consumer driven service economy is based on buy, buy and buy some more, and that is NOT going to bring America back to its 1955 era former economic glory. Sorry, not happening.

    The economy globally is slowing down and beginning to creak. A lot like the Tin Man in the Wizard of Oz… “oil can! Oilll caaannn!”

    • carson

      and buying and stockpiling isn’t always the same as buying and using.
      Did QE and other nations stimulus allow governments to stockpile huge reserves of things? So shipping of iron ore copper and oil and more and then storing that is not end use, and once storehouses are filled ordering and shipping drops off.

      There’s a retail inventory glut and also a glut of all raw materials stored so new orders would drop.
      It was good while it lasted but amassing things into storehouses doesn’t last forever.

      ..except for cars..they have plenty of vast fields the world over to store even more of those, it’s not like they could lower the price significantly or something lol. maybe that’s how some store their raw steel? bring out the crusher lol

      • KansasGirl

        Right, don’t get rid of the ’57.

    • KansasGirl

      The economy is slowing globally because the powers that be don’t want a strong and prosperous America.

      • Steeve Girard

        It also unnatural, because have unique superpowers, causes more lines of separation and reduces diversity.

  • rat28

    According to Obama, Michael is peddling fiction

    • KansasGirl

      Obama’s never had a problem with lying…he’s a pro.

      • Gay Veteran

        just like nearly 100% of politicians.
        btw, democrats = republicans

        • KansasGirl

          It’s become the uniparty…hasn’t it?

        • KansasGirl

          Considering he’s our President, he can do the most damage.
          And he takes so much joy in doing it.
          Washington’s centralized power needs down-sized…and then some.

          • Gay Veteran

            were you as upset with Bush?

            Obama and Bush are war criminals

          • awb22

            I believe Reagan started the imperialist expansion, Obama is just the latest in a line of progressively worse criminals in the WH.

          • KansasGirl

            I was responding to rat28 sarcastic comment.
            The last thing I want to know is your thoughts on war crimes.

          • Gay Veteran

            well hon, I want war crimes punished

          • KansasGirl

            I hear ya, but the left wants to nominate Hillary…another criminal.
            It’s off topic too.

  • James Dohnalek

    Excellent article. Well put, and TRUE.
    One interesting story, Johnson Controls is moving their headquarters (their company) to Ireland. It is determined that they will avoid the 35% US TAX RATE. Plus, they will fire US workers and hire Irish worker at a lower labor price. The next move is they will move their manufacturing division to Ireland. What will happen if 100’s of US companies move to foreign countries along with their manufacturing divisions.
    DEPRESSION IS COMING, and no one can stop it.
    Not the FEDERAL RESERVE OR US GOVERNMENT.
    For 90 % of the people, they HAVE THEIR HEAD IN THE SAND. They will be the one who will wake up and wonder “WHAT IN LAMBSEY SAKES HAPPENED.
    G. E. T. E. D. U. C. A. T. E. D. !!!!!!!!

    • retired22

      The way the global economy is going south,taxes & labor costs won’t be the main problem.The problem will be finding customers with money or credit to buy their products!

      • Jazz

        Well maybe you should go back to work if you can’t afford your lifestyle. Just a suggestion. I send my money off to work for me. It’s worked for four decades :)

        • KansasGirl

          These people on this forum aren’t what you’re describing.
          These are people that made America function.
          The problem now is, their numbers are dwindling.

        • Mark

          Your not getting it or basic econ 101. As people make less money they spend less. Also inflation is high and the way they calculate inflation has been manipulated and changes back in the 90s. What has increased the most in price for the last 20 years? Housing, health care, groceries, eating out, and utilities. Oh, our wonderful gov’t does not count these as inflation. I work for 3m and they just laid off 1500 hard working people. But see Jazz you are missing the boat on this one. People do want to work but guess what they can not make enough to support their families since they had to take a major pay cut and work at Walmart for $10 an hour. I forgot to calculate all the price increases on what consumers spend the mot on Groceries, housing, utilities, and yes healthcare. Thanks to Obama health care has gone up on the average $2500 per family. Now you add some one lossong their job and they can’t make ends meet. This article talks about CSX closing a rail yard and 300 laid off. If there are no other jobs what are they going to do. Thanks to Obama for shutting down coal it had a domino effect on the transportation and other industries. Not as easy as you think just to go out and get another job. One question???? Are you retired? If so I would recommend getting out more a seeing the real Obama economy because I think you are to sheltered. Just some advice. Getting out in the real world does a person some real good once in a while.

        • MaxRockatansky33

          What you mean by “work”? Robbing trurly working people from their money just like Wall St parasites do? Go work not like crooks do.

      • Mike Garland

        Finally, someone get it! If all of the big corporations continue to move out of the country more people loose there jobs. No jobs means no money. No money means no spending which eventually means no corporation. Its just that simple! I don’t understand how these corporation in the long run benefit.

      • Steeve Girard

        Exact, because people are waking from the consumer dream, slowly. They are starting to know that consumerism and suburbia, are just dreams.

    • KansasGirl

      We used to have the lowest tax rate in the world.
      That changed when the progressives infiltrated the power points in America.

    • Steeve Girard

      and 90% of the 10% that think the are out of the sand, are being poured sand on their heads by the governments.

  • Imaplaneiac

    What ” stuff ” is made here in Obam-istan ( the former USA )!? When I go shopping, I RARELY find ANYTHING that’s made here! Aside from foodstuffs )..

    • Jacynthia Read

      Are you sure about the food?

    • Steeve Girard

      Yes, USA has lots of food we import in Canada. Especially from Florida and California, during the winter months.

  • K

    Good catch Michael. I only live about 40 minutes from Erwin. It was one of the places I looked at, when I moved up here. The only thing keeping that town alive now, is the nuclear fuel plant. And they do not employ enough people. To support the entire town.Would not be hard to see that town going ghost town. Just like some of the Kentucky coal towns.

    • KansasGirl

      It doesn’t help when you have the federal government regulating the coal industry out of business.
      In turn, we peons won’t be able to afford the utility bills.
      They show how little they think of us.

      • Steeve Girard

        It won’t cap coal for long.. coal is the next best EROEI / EROI, when conventional oil drops after 2030, they,ll have no choice but to move the industry there, in an attempt to keep the system alive.

        • KansasGirl

          And the damaged caused until 2030?

  • CASTIEL

    if people dont buy…factories dont produce….and the market slows down….i say that because i m charge of a store and i keep the time counting flies and i m not the only one…..just a question of time to start looking for another job….There are to many people without a job…..when the tecnology replaced men so the businessman could have more profit..when they moved all their factories to africa so they could pay miserable salaries to workers or buy products from China and just stick a paper like it was produced by them…they forgot one thing : they destroyed the economy of their own country……destroying jobs….and….less jobs… less power to buy…..the only thing that keeps going its the trade of food products because people cannot live without food but the rest its just a shot in the foot….a lot of people invested a lot…..and that will be money that the banks and the investors will loose……The problem is that the governments dont create a solution they just create a bigger problem to solve another problem: and it will be a question of time before this gigantic Titanic sinks

    • Jazz

      LMAO. Spending is robust. The consumer is doing very well. May be shopping online but they are spending boat loads of moola. Go U-S-A!

      • CASTIEL

        What about the people who dont have jobs???? they going to buy what? those people are suported by their families…..those families cannot spend the money that they give to them…in USA there are 25 % of people without a job…..i dont think you are seeing the real problem

        • Jazz

          If people are too lazy to work, shame on them. Get the skills to advance or be replaced. It’s survival of the fittest. We should always seek to give our best!

          • KansasGirl

            Not shame on people who are too lazy to work…shame on the government (on the taxpayers dime) for the general welfare packages these bums get.
            This down economy can no longer support these leeches in the style they’ve grown accustomed too.
            It’s become a plague on society…by the ruling class naturally.

          • df NJ

            You should listen to Motorhead song Eat the Rich

          • KansasGirl

            The ruling class has definitely destroyed the middle class.

          • AzDi

            When you have people on welfare that are receiving over 30,000. a year from welfare, food stamps, medical, etc….. why would they even want to work. There are a lot of people doing part-time jobs or low paying jobs because they DON’T want to be on the government dole! This whole thing going on today is because of government overreach and crony captalists!

          • KansasGirl

            That’s my point.
            Today, we have generational welfare families that have never worked a day in their life.
            That isn’t a safety net…it’s a lifestyle – that we’re forced to support.
            It’s time to stop giving these ne’re-do-wells a choice of benefits vs working.
            I’ve been working since I was 15, left my family home at 18..and have supported myself since.
            To me, the most important reason to work is freedom.
            The government is impeding that freedom.

          • AzDi

            Totally agree! And I relate to you. I started part time jobs at 16. This is not the America we grew up in! I totally feel sorry for the children of today. I am retired, and had a very successful life, but that is gone for the young people today. Mostly because of career politicians and the crony capitalists and the lobbyist.

            I don’t think any politician running today can fix it. Well maybe one or two, but once they get in and get the big money….. they are done and so are we!

          • MaxRockatansky33

            You mean the Elite? They are very lazy, robbing money out of the working class.

          • elite means specially good the celebrity ruling class is disastrously bad
            NEVER call that slime elite !!!!

          • MaxRockatansky33

            I don’t name so called celebrities of Hollywood and show-business an elite. Elite are a Banksters and Rothschilds or Rockefellers.

          • KansasGirl

            Soros?

          • MaxRockatansky33

            George Soros. A multi-billionaire sponsor of so called democratic revolutions in Ukraine, Arab countries and liberal values like feminism, multi-culti and sexual minorities.

          • CASTIEL

            Getting skills???? even MacGyver have no job….you dont know what you are talking about

          • Steeve Girard

            Actually skills are the only currency that cannot be seized by governments.

          • CJ

            Are you currently looking for a job or do you have a job. It is very different for those looking. I have nieces, nephews, sons looking for better jobs. They have the education, but the jobs are below their qualifications and get paid at a lower level. Their prospects of being laid off are great and rumors are flying about these jobs not being available in the future DUE TO THE SLOW DOWN IN THE ECONOMY !!

          • KansasGirl

            The good news is I’m retired…the bad news, I was hoping to work a little longer.
            I took a big hit on the compensation aspect.
            Don’t misunderstand, I’m not complaining…there are people in far worse shape than me.
            Concerning jobs, I have younger family in the same shape as yours.
            Until this administration quits following the Keynesian economic theory – nothing will change.
            Close the borders, stop H1B work visa’s and quit accepting refugees from the middle east.
            I’ve come to the conclusion that it’s the government that’s our worst enemy.
            Anyways, good luck to you and yours.

          • Priszilla

            Yes. Give your best to the rich and keep the crap for yourself.

        • sistersoldier

          I have read the replies and I agree they don’t see the real problem. And this is not directed at the moderator this is for those that keep shouting phrases like, get a job!, get retrained!, get off the couch! etc., etc., **And before you even say it I am gainfully employed – I pay my taxes and that gives me just as much right to speak on current affairs as every other American. (Although employed or not citizens still have 2nd amendment rights.)

          My question is to those who are silently screaming (because they are really not listening) at those they feel are a burden on our government’s budget. Do you consider how much we are paying them to promote the greatest wealth disparity in all of history? No one is screaming, “Hey uncle Sam! (remember him), what are you doing with my tax dollars!” or better yet do you even have the right or the audacity to ask? The government is the largest welfare beneficiary in the land and no one raises an eyebrow anymore. Check the salaries if it pleases you and then go right on supporting the ENABLER with blissful ignorance. My 2 cents.

          • KansasGirl

            Are you serious?
            That’s all I talk about.
            They took in 1.2 trillion last quarter and they still spent more than they received in taxes..
            The federal government needs down-sized big time.

          • sistersoldier

            I second that motion.

          • KansasGirl

            Then let us proceed. lol

          • sistersoldier

            Meeting adjourned… 8D

          • KansasGirl

            Good, it’s Friday night and I got people to see and places to go. 😉

          • SeaanUiNeill

            Sistersoldier: “The government is the largest welfare beneficiary in the land and no one raises an eyebrow anymore. Check the salaries”…..

            The real sick joke in all of this is that they actually think this is the right and proper order of things, and that they merit out money for all the good they are doing for us, and alas, all too many of our fellow citizens seem to have swallowed this also…..

            “The average mind is slow in grasping a truth, but when the most thoroughly organized, centralized institution, maintained at an excessive national expense, has proven a complete social failure, the dullest must begin to question its right to exist.”

            Emma Goldman (her quote), your country needs you……

          • sistersoldier

            YEP!

        • Priszilla

          If you don’t have money you pay by credit card. And pay off one card with another. At the end is debtor’s prison where you work for private corporations. A quarter of all prisoners worldwide are imprisoned in the land of the free.

      • Steeve Girard

        Dude, you are insane, only the spending in essentials (food, clothes. communications) and virtuals are great. The rest of material spending is not good at all.

      • MaxRockatansky33

        Polly wanna a cracker?

      • CJ

        And here lies the problem. Those that have jobs and are doing well have their head up their azzz and don’t look at the overall picture. Apparently they didn’t read the entire article or understand the implications of the facts laid at their feet. I just presented documented information to one of the “useful Liberals” and they wouldn’t even bother to consider reading to understand the FACTS. Economics is not rocket science, but apparently it escapes the simple minded who are still drinking the liberal koolaid….

        • Jerry C

          To someone who’s employed, it’s just a recession; but to your neighbor who’s out of work, it’s a depression. My wife will have been at her job for 25 years & she thinks everything is rosy. Most people cannot imagine anything outside their own experience. Normalcy Bias.

      • MaxRockatansky33

        Spend! All your hard worked money on things that you don’t want. Good luck! Some people are greedy and materialistic. That’s keep Greed St afloat. But when people realise that they’ve been duped and consumptionism is overrated, Markets are finished.

      • KansasGirl

        Pitiful.

    • Heinrich van Rooi

      Absolutely commented greatly, Stimulus measurements are a temporary solution to put the miserablef uture far ahead for us, only to comeback with a vengance haunt those responsible

    • Steeve Girard

      I work in shipping businesses, and I totally agree with you. In order to keep my head out of the water… I must merc myself from enterprise to enterprise.

      • SunnyFlaSnotress

        CASTIEL is in charge of a store and with his charm, the customers aren’t flocking in??
        I CAN’T BELIEVE it!!! ::snicker::
        I wonder how.. uh,. long.. he’s been doing that.

        • Bob Johansen

          I chew raw garlic to repel your kind.

          • sistersoldier

            LOL!

        • CASTIEL

          people dont go because they dont have money….and yes i m polite and professional in what i do….otherwise my boss wouldn t give me the job

    • afchief

      Well I’m in the poultry business and at the poultry show/convention in downtown Atlanta right now. Business is booming.

      • SunnyFlaSnotress

        that’s because beef has been high

        • Bob Johansen

          Yes, soon we will all be eating “chicken backs” like they did on “Good Times.” Dynooomiitteeeeee!!!

        • afchief

          Leave with you godless liberal garbage!!!!

          • SunnyFlaSnotress

            Your stuck w/me ChickenBoy

        • Rick

          No, it’s those horse meat Bronco, that are high in Denver!

          • arf

            No…its the elite…They taste like chicken and their kids are extra tender…”Parts are Parts”

      • KansasGirl

        Southerns do love their fried chicken.

    • jaxon64

      Excellent point Castiel–these so-called experts fancy themselves so much smarter than the masses in terms of basic economics.
      Yet it doesn’t get much more short-sighted and plain stupid than what they’ve done. By focusing on decreasing production costs and profit margins they consequently have destroyed the incomes of the BUYERS…nobody buying= no economy and hence, their businesses and investors lose in the long run…silly elitists

      • Curly Adams

        this is all planned by the globalists to bring down this country to a third world level and have such a big world wide economic collapse that man and woman around the world will beg for a one world currency and a cashless society. The globalists are not stupid , our greedy corrupt politicians on the other hand are operating on a very low level of cognitive thinking and are easily manipulated by the globalists and their lobbyist . They are planning for the next stage of the take down of this once great country , it’s called Trans Pacific Partnership and it will be another BIG nail in the coffin of this countries economy.

        But hey lets all celebrate the official unemployment is at 4.9 % hurray for Obama !!!!

    • AzDi

      Crony Capitalism. Unfortunately entities such as the Business Roundtable and Chamber of Commerce are at fault, and the big businesses who have moved to other countries just to save taxes, (because of democrats mostly), is the reason a lot of this has come to pass.

      Too much immigration is also the problem at least in America. Pay the illegals peanuts and they do the jobs. When you have Congress (both parties) pushing these things, it makes you wonder if they even care about Americans. I don’t know about the other countries but perhaps it is similar.

      • Gay Veteran

        “…the big businesses who have moved to other countries just to save taxes….”

        big businesses don’t pay big taxes. they moved MILLIONS of American jobs to places like China for 2 reasons: (1) LOW wages and (2) NO environmental laws

      • Redneck4

        Correct except I would add on nitpick. Remove the first word in the first sentence. What we have is plain old capitalism. Saying it is “crony” capitalism infers that it is a distortion of capitalism. It is not. The one goal of capitalism is to maximize profits for the shareholders by any means possible. It always has been and always will be. The suddenness of the mess we find ourselves in is due to capitalism’s new tool which is technology. Today it is just as easy to run a factory on the other side of the world as it is to run one next door.

        Since the inception of this nation labor enjoyed a rising standard of living for one reason and one reason only…..a labor shortage. In the mid seventies that shortage came to a halt and so did the rising standard of living we enjoyed. It is that simple. It was not because some supernatural being blessed us or due to some quality of our citizens. It was due to a labor shortage. No more.

    • Mondobeyondo

      Thank you, GATT, NAFTA and all those other trade agreements.

      • Gay Veteran

        NAFTA courtesy of Slick Willie

    • sistersoldier

      Who would have ever thought that we would live to see the highest office in the country, the CEO of these divided states, for sale to the highest bidder? Trump, Bloomberg, and others. Its an in your face campaign — what TPTB think of the submissive tax slaves. Which is why they created the very complicated TAX CODE(s) so that ultimately anyone who would succeed and maintain success will eventually be cast back into the mix with the rest of the unsung financial guru’s who lived and died by the market creed. Dying without a penny to leave to a single person because TPTB demand restitution and they command compliance which is why they instituted the death tax. To keep would be beneficiaries who they deem not entitled to the American dream at the mercy of the dreaded CODE.

      It’s like last year’s H&R block catch phrase, “Get you money back America!”

    • KansasGirl

      It should also be noted that America has the highest corporate tax rate in the industrialized nations.
      As an aside, if business’ didn’t make profits they couldn’t survive.
      Here’s something that ought to upset you (everyone), the federal government collected 1.2 trillion in taxes last quarter…and still spent more than they took in.
      There is the major problem – not some faceless businessman.
      I’m sick of hearing all this class envy, especially from our President leading the chorus.

    • A Nonymouse

      Yup,it’s that simple.
      Anecdotal evidence is pretty useful these days, since the MSM are doing the Three Monkeys routine with anything that doesn’t suit their agenda.
      My small town’s Starbucks closed last week.
      The Sears closed last month.
      Both were with very short notice.

    • Bobble Head

      Correct! Government create problems and most often get in the way. The ship is already listing..badly..but nobody is willing to acknowledge it, just yet

    • Alan Drobnak

      Agree with you. We are living in the period of global corporatocracy. Where faceless corporations have become global parasites which swoop down upon struggling countries with populations of less educated eager work for slave labor wages. They leave behind used up infrastructures, environmental devastation and destroyed lives. The corporation profit statement has no conscience, no loyalty, integrity or compassion. We have arrived to the time of machine over man and the machine will direct itself. Some say the ‘elite’ are the ones pulling these strings, that they are both human as well as non-human entities. As ruthless as the situation appears to be, this concept just may have some traction.

    • Evil_shadow

      good points, but i have doubts about some things; why do we even need so many stuff? cheap chinese knock off we can see in every commercial on TV, new car every 3-5 years, computer, tablet, tv each year or two…Since we live in world of finite resources sooner or later we will run out of resources and then we will have to consume less, thus produce less.what then? how to solve low buying power, unemployment and scarce resources necessary for survival? Capitalism work only as long as there are cheap and plentiful resources…

  • Jazz

    Economy goes through cycles. Up and down. Nothing too concerning just yet. I’m buying on these market dips and thinking about how much I’m going to be glad I did a year or two from now. Buy when others are fearful. Who’s to argue with Warren B? It’s helped me in the 70s, 80s, 90s, and now the 2000s.

    • retired22

      Glad to here you are doing well,..now you can sign off & go back to sleep!

      • Jazz

        Thanks for the advice but the early bird catches the worm. Not quite bed time sunny.

        • KansasGirl

          There aren’t enough of you to matter much…you’ll eventually feel the pain.

          • Jazz

            Lmao says the girl who works at Arby’s. You got the meat.

          • MaxRockatansky33

            Lmao, Greed St is going Down Jones.

          • NorthernBud

            Your comments betray your conceit.

            Not sure what someone who “work’s at Arby’s” is supposed to be like.

            You must be better than them, since they “work at Arby’s”.

            Wow.

          • Kat T

            Thank you NorthernBud! I just realized that Jazz and others like him are the problem. I remember catching glimpses of them years ago when the laying off first began. ‘Lazy’ was their byword which in reality only meant they were better than everyone else. But WAIT! it finally got to some of them too. People like myself and the arby’s worker won’t feel much different not having to fall has it’s advantages. I finally got old enough to be like Paul, I abound in whatever circumstance I find myself. Peace is inside me not somewhere over the rainbow.

        • MaxRockatansky33

          Early birds? What time? Wall St opening time or first cofee in Starbuck’s?

        • Steeve Girard

          Bullcrap, that can be so missunderstood.

        • retired22

          I knew all along that you are the type that’s big on worms,….do you eat them baked or broiled?

      • He didn’t win the spelling bee

        It’s “hear” not “here”. Maybe gramps should go back to 2nd grade.

    • CASTIEL

      Its not a question of fear…its a question of keeping the eyes open…..like my father said : a man that see in a land of blind people is a king

      • Jazz

        You missed the point. Warren B says buy when others are fearful and sell while they are greedy. Now people are fearful so I’m buying like there’s no tomorrow.

        • toadsticker

          I’m buying too, twice as much as 6 months ago, 4 times as much as just before 2008 when I got out for 6 years. Big mistake. I hope it works out in 5-6 years. If it works out I may catch up and be able to retire. If it doesn’t work out and we have a worst case scenario almost everybody will come down to my level. For those with cash, look for an opportunity to buy homes cheap soon. Make sure you are in the right market.

          • KansasGirl

            This isn’t a cyclical adjustment we used to experience.
            This is being caused intentionally.

          • One eye open

            Take off your tinfoil hat lady. Ohhh the bogey man caused it lol.

          • Jerry C

            Your ignorance & arrogance is astounding. This chess game is coming down to the last few moves; yet, you continue to believe the game will go on forever.

          • Steeve Girard

            Well, yes and no… think of it as a war between humanity vs reality.

          • KansasGirl

            You’re very clever
            Well put.

      • Steeve Girard

        What a concept! Very Pagan.

    • Jacynthia Read

      Fear? That is what they said to the people in the World Trade Center. Don’t be fearful. Just take your seat and get back to work. Guess who got out in that one? Not the ones who did as they were told.

      • Kenny

        Exactly, you shelter in place, I will run for the hills.

        • Jacynthia Read

          You got it.

      • KansasGirl

        Excellent analogy.

      • Steeve Girard

        True enough

      • Jerry C

        Bing! I’m certain they said that to those on the Titanic as well.

    • RTL89

      ….except this isn’t a typical “recession” like the ones we experienced in the 70’s, 80’s, 90’s… and not even the 00’s. This isn’t a matter of temporarily laying off workers during a downturn for 5 or 6 months and then re-instituting the manufacturing cycle once the future projections have been made. This is a global depression where every individual on this planet will suffer, because we are facing a resource crisis. But please keep patting yourself on the back.

      • Jazz

        Resources are getting cheaper comprande. This means goods are getting cheaper so we can buy more. That’s a good thing. Change your attitude – instead of seeking a factory job acquire skills that make you irreplaceable.

        • toadsticker

          Many are acquiring skills that they thought would make them irreplaceable only to find that many others are acquiring those skills also. In addition to acquiring skills you have to get out and hustle and be tough. As Louis Armstrong used to tell the members of his band, ” Don’t f— with my hustle.” In other words, you may have skills, but I’m paying you and do it my way. If you want to make top money you have set up your own hustle where you are the top dog. Most people aren’t capable of doing that.

          • RTL89

            Yep, and if you try and tell people like Jazz that, you’ll get a lot of fascist hyperbole shoved down your throat about how “you don’t deserve anything” if you don’t have those skills. Apolegetic fascism, pure and simple.

          • Jazz

            Figure out what you want and make it happen. Otherwise pipe down.

          • MaxRockatansky33

            What kind of pipe? Crack pipe??

          • Steeve Girard

            Heck yeah!

        • RTL89

          Goods getting cheaper… at what cost though? Insufferable slave labour on the other side of the planet so we can buy things for cheaper in the west? Boy oh boy, I’m not American… but I hope you get a taste of what’s like REALLY soon. And you will. We all will. It’s global enslavement of the entire planet. That should level the playing field

          • Steeve Girard

            We will someday. As we Pagans say, life is wheel.

        • MaxRockatansky33

          Play some happy tune, just like on Titanic before it sank.

        • Gay Veteran

          so yeah, acquire bio-tech skills, because there are 10s of MILLIONS of bio-tech jobs out there

      • KansasGirl

        If by “resources” you mean money, then yes it is in a crisis.

      • Steeve Girard

        Heck yeah, dude!

    • Steeve Girard

      Those down cycles and not nothing… they are warning shots. We are running out of easy energy.

    • MaxRockatansky33

      Yep! Wall st crooks are working hard, to rip off more money from hard working people.

  • retired22

    You can see it all at the strip malls in my neighborhood in Florida.
    One middle sized strip mall has neon signs with the name of the store lit over each occupied store at night.When I go for a pizza at night I can see maybe 20 or 25 lit up signs in this mall which may contain as many as 100 units.I assume that 75 or 80 stores are vacant!

  • Bill

    Every time I go to Walmart it seems I am able to park closer to the door.

    • Jacynthia Read

      Me too. I was at Walmart in Mountain View, California over the weekend. It seemed pretty busy, but the shelves were picked over a lot with some even being empty. I could not fine what I was looking for because it was sold out.

      • KansasGirl

        I’ve noticed a lot of stores aren’t restocking as quickly as in the past.
        This shows me the stores see a change in the shoppers pattern.
        Your community might be in a more upscale area, but the retailers bottom line can’t lie.
        That’s politicians job…which they’re being called out on more frequently.
        Our economy is fragile right now…and it’s going to become very grim soon.

        • alan

          The fear of shortages will cause a panic and people will flood in to buy things.
          But just raise the price up before you say there is a shortage.

          • KansasGirl

            I suppose…or one could just plan ahead.

      • CJ

        cost of goods sold vs availability and cost to ship vs profitability. Demand isn’t always the only perceived response to supply.

    • Rattlesnake boots

      Well when you go to Walmart to buy Cheetos and ding dongs in the middle of the night after your bong hits, what do you expect? Us normal folk go shopping during the day.

      • KansasGirl

        Ignore at your own peril friend.

    • KansasGirl

      Agree.
      Most stores I frequent are dead too.
      We’ll probably start hearing “stimulus package” in the ruling class vernacular soon.

    • Steeve Girard

      Yea I have also been able to park more close to the door.

    • barry oldwater

      But not at the first of the month I bet.

    • CJ

      Oh, you still have a Wal-Mart…… how many of those stores closed…156 + or -? Noticed WM had to apease the ruling class by increasing minimum wage to $15…but then they closed 156 stores…hmmmm must be a connection here…. hello are you seeing the connection?

  • Robert

    Some posit that economies go thru cycles. True enough. This cycle seems different given the derivatives monster and the stunning levels of debt. Throw in too big to fail banks that are likely unsound to be polite and there is an abnormal danger. China, the second largest economy, is in trouble and is making the rest of the globe shaky. There is enormous instability worldwide and in places where instability is more rare since WWII. Europe. There seem to be many pressures on a weak economy. With the debt in existence, I do not see how any sort of meaningful recovery can occur. Typically a few do ok in stocks but the vast majority have no financial resources and lose out. This is dangerous for a consumer economy. The problem is not even addressed among the various candidates from either party. Train wreck ongoing. Perhaps someone has a good theory on how this economic wreck will turn out for the next cycle. Will we come out the other side with the lifestyles we have gotten used to.

    • Duh

      Hard reset needed in world’s economy. I mean real HARD. Maybe a nuke or two will help cover the fundamental problem here. Hope it didnt happen though. D:

      • toadsticker

        In the past war has been used as the reset mechanism. I think you might be right about nukes this time.

      • Steeve Girard

        It is a possibility, with irrational religious ideas that are going around.

      • Gay Veteran

        2? hmmmmmmm, Wall Street and Pentagon

  • Dow 25K in 2016.

    Should I make preparations or should I let the government save me?

    • KansasGirl

      You have to ask…or is that sarcasm. lol

      • Dow 25K in 2016.

        It is sarcasm lol

        • KansasGirl

          😉

  • James Staten

    Russia is broke. I read a few articles about their situation today. Push is coming to shove in this “Money War”. I have been telling my family and friends for over twenty years that I believe Russia takes us out. In Ezekiel 38-39 there is a latter day invasion of Israel, and many believe that Russia is the leader of this coalition. Ezekiel 38:5 lists Persia as the first nation in this coalition. Persia changed their name to Iran in about 1935….Jeremiah 50-51, Revelation 17-18, portions of Isaiah 13-18 and Isaiah 47. The Hindermost of the nations is destroyed in a surprise attack. Rabbis for centuries have understood (Hindermost) to mean the last of the great nations, an end time nation, a young nation compared to the other nations of the world. The Hammer of the earth is broken an idiom for the Policeman of the world. She sits on many waters, she is rich beyond measure, she is an immigrant nation, a mingled people from her beginning with a large Jewish population. etc. etc. In “One Hour’s Time” great riches come to nothing!!!!! Our only Hope regardless is 1st Corinthians 15:1-4

    • df NJ

      “Communities across America are bypassing the dollar and creating their own currencies in an attempt to help both consumers and businesses “

      • KansasGirl

        So true, barter is better.
        Starve the beast…then they can’t buy votes.
        It’s their voters that will suffer and cause the most mayhem anyway.
        We’ve prepared for the worst, but praying for a miracle.

        • df NJ

          I keep telling all the preppers. No matter how hard they try to enslave us, people will continue to copulate, have babies, and have economy.

          • KansasGirl

            Be snarky all you want, it won’t help you much though.
            Good luck to you anyway.

        • Steeve Girard

          Yes we should have kept trade small.

      • James Staten

        Well until they can’t print it any more, the dollar is still the reserve currency of the world. The economic engine..Regardless we are the Consumer Nation of the world until?

        • df NJ

          It was article, “Struggling US towns print their own currency”

          “Communities across America are bypassing the dollar and creating their own currencies in an attempt to help both consumers and businesses struggling in the recession.

          The idea, borrowed from the Depression era when the currencies were known as “scrip”, is designed to boost local spending and keep money circulating within the community.”

          “Typically, a group of businesses print a new currency which shoppers can then buy at a discount – typically one dollar will cost 90 to 95 cents – and spend at full value with participating companies.”

          My town issues a card where you get money off your property taxes if you spend money with local businesses.

          • James Staten

            there is a town not to far from me named Wilson, Ark that did that for many years.

        • CJ

          if the US $ is the World Reserve currency, which makes it the petrodollar why are China and Russia trading with the Yuan and Rubble for their commodities ? must be a disconnect here or they didn’t get that memo… change is happening NOW.

          • James Staten

            Well it is the reserve currency until it is replaced in some fashion? I don’t argue with your statements, and your statements don’t change one thing of my original post. Every article I read over the last day or so has the Ruble pegged to the Dollar, and the Russians are having to pay a whole lot more for everything, plus the West has placed sanctions on them also. The Bear is in a Vise!!!

      • alan

        I started seeing a lot about banks wanting to go cashless. This is how it begins, an alternate economy will start to rise until the bankers money is replaced.

    • Steeve Girard

      Christian beliefs are at the origin of this fiasco, because Christians could not tolerate destruction that should have happened long ago. We should have been capped in our industrial development. They thought the earth was an item to own. Just in recent times, and recent scientific discoveries, that the Atheist / Pagan idea, that we are a intertwined system of a larger living superbeing controlled by viruses and bacteria, is making the foundation of what we called society, shudder, at the dismay of several bloggers here.

      • NorthernBud

        Indeed. Any minute now the atheists are going to solve all of our problems.

        Hail Gaia!!!

      • Bob Johansen

        The “Christians” you are referring to are actually idolators: Bible Worshippers and of their father the Devil. Jesus is alive today in the spirit, not in a book. Matthew, Mark, Luke, and John are a history of Jesus’ ministry before he became the messiah (when he shed his blood he succeeded at this.) In those books he was not dead yet, so he could not have been a man who never sinned (at that time.) Your “make-up on a pig” romanticized pantheism stinks, and is a deception from the devil. I don’t want to dissolve back into the universe, and that is not what is going to happen. When you die your spirit will leave your flesh and you will either go to the bottomless pit, or to Jesus’ Kingdom. Just because bible worshipers ruined the world, don’t blame Jesus. Jesus sent the holy ghost, not the “holy” bible. The flesh dimension cannot be holy.

    • Gay Veteran

      bilge

      • James Staten

        Well at least you will be able to say I was told.

        • Gay Veteran

          you people have been predicting the end of the world for over 1900 years, and you’ll be predicting that over the next 1900 years, and the next, etc.

          • James Staten

            Please show me in my comment where I said it was in the end of the world? You can’t because it’s not there. If you would like some more eschatology, I will be glad to provide?

          • Gay Veteran

            well, gee, with all your gibberish it’s hard to tell.

            how about “…Rabbis for centuries have understood (Hindermost) to mean the last of the great nations, an end time nation….”
            end time? end of the world as we know it? eh

          • James Staten

            No, Not the end of the world. The world will exist in some fashion for eternity. If the scriptures given are describing America (which I believe) then there is a major change a coming!!!!

          • awb22

            only the end of the world as you know it.

      • Bill G Wilminton NC

        WE LIVE IN BILGE…………….

  • df NJ

    Percentage of population employed is on the rise:

    google “series LNS12300000 graph” to see. Set starting year to 1990 and click on GO button.

  • Richard

    “another brand new all-time record low” = “a record low”

  • ali

    Not sure what do you mean be start preparing. Prepare how? Start buying tons of tin food. If things are going to be as bad as you say then even all that tin food won’t last me long. I agree that global economy is pretty bad currently but I don’t see the apocalyptic future that you predict.

    • Ray Charles

      You can not see what is not there.

    • Steeve Girard

      The future will not be apocalyptic, it will be a renormalization. A reset.

      • Bill G Wilminton NC

        Sorry but I most definitely do not agree…..a country that turns it back on God and shakes its fist at HIM will bear the responsibility for its decisions.

        55 million babies aborted ” MURDERED ” and then same sex marriage approval. How far we have fallen, in 1973 homosexuality was still considered a MENTAL DISEASE.

        • Gay Veteran

          hey Bill, adopt any unwanted children yet? hmmmmmm

          and sorry Einstein, but marriage equality for Gays has nothing to do with our current situation. but they you have to demonize somebody, and you can’t do the Jews this time

          • Bill G Wilminton NC

            All children are wanted by God and as I have said before…. YOU can take up all your beliefs and complaints with HIM…it wont be too long of a wait.

            Abortion is murder…….and our culture is guilty of 56 million murders.

          • Gay Veteran

            “All children are wanted by God….”

            then what are you complaining about???
            all these “children” are going directly to god without living a life of poverty, child abuse, “sin”, etc.

          • Bill G Wilminton NC

            “ALL CHILDREN ARE WANTED BY GOD ” !….Ha ha in your ignorance you have finally said something correct.

            Yes, all these aborted babies 56 million go directly to God. WE miss out on…the babies that would live a life to develop the cure for cancer, or become great statesman of peace, or just be a Godly Mom or DAD.

            Living a life of poverty, or suffering child abuse does not separate one from God. Sin does and we all Sin and need Forgiveness.

            If it was not for the wondrous fact that by Gods design these aborted babies go directly to HIM…. I am afraid to think of Gods Justice for the slaughter of the most defenseless of all……those in the womb.

            56 million children over 42 years

          • Gay Veteran

            “…the wondrous fact that by Gods design these aborted babies go directly to HIM….”

            so again, what’s the problem?

            you seem to think that all the “babies” were going to live a regular life, thus ignoring the fact that most would live brutal lives.
            deep down what really upsets you is that these “babies” never had a chance at life and that there is no afterlife

          • Bill G Wilminton NC

            This life is temporary and called temporal and we are only pilgrims passing thru…….the real existence is eternity called eternal…..these murdered babies immediately entered the presence of Yahwah (God ) in eternity.

            What you consider the afterlife I consider Thee Life….these bodies go away but our souls go on and we choose where we want the GO ON to be. God gives us FREE WILL to choose.

            By murdering these babies we have eliminated 56 million could have been a Churchill, Einstein, Martin Luther King, Dr Salk (polio), etc etc etc.

            I have thoughts that the only reason God has allowed this to continue is….that these little ones ALL go right to HIM all 56 million. But the act of murder ( abortion ) which we allow is a grievous SIN and will/is bring judgement.

          • Gay Veteran

            your “god” did his share of killing babies.

            we have eliminated 56 million could have been a Hitler, Stalin, Pol Pot, Ted Bundy, etc etc etc.

          • Bill G Wilminton NC

            Take your complaint list in your coffin and do the list alphabetical……….as it sure sounds like you got a lot to complain about……….and it wont be long.

          • Gay Veteran

            complaint list? hmmmmmm:
            1. why does “god” never answer the prayers of amputees?
            2. why did “god” order the murder of babies?

          • Bill G Wilminton NC

            You’ve already got A and B lots of letters to go……..and it wont be a long wait

          • Gay Veteran

            poor billie, try thinking for yourself

          • awb22

            you first

          • awb22

            you first.

          • awb22

            sodomite joe, you first.

          • Gay Veteran

            awwwww Sodomite Obsessed Polly, I think for myself all the time.
            you should try it sometime

          • awb22

            reprobates think?

          • awb22

            what possible difference could it make to you, since you wouldn’t know the truth if it was presented to you on a silver platter?

          • Gay Veteran

            what truth? you Christians can’t agree on anything.

          • awb22

            yes, there is, god’s word is the standard for truth. truth is relative to you.

          • Gay Veteran

            can’t have truth when it is open to interpretation
            try thinking for yourself

          • awb22

            no, it’s not open to interpretation. that’s where you’re wrong.

            try thinking for yourself.

          • Gay Veteran

            not open to interpretation?!?!?!?!?
            then WHY are you Christians arguing so much??????????????

          • awb22

            mislead by the god of this world, why do you reject truth?

          • Gay Veteran

            don’t reject truth.
            but you Christians sure do argue a lot over the “truth”

          • awb22

            you assume much by rejecting the truth.

          • Gay Veteran

            which truth is that? you Christians can’t agree on anything

          • awb22

            yes, there is, God’s word is truth, John 17:17, but what is that to you, sodomite?

          • Gay Veteran

            gee Sodomite Obsessed Polly, you Christians argue over any verse

          • awb22

            at least we agree on what is truth, it’s all relative to you.

          • Gay Veteran

            and yet you Christians constantly argue over it

          • awb22

            what is it to you?

          • awb22

            it’s not perfect, but it’s the best thing going. what have you got besides rejecting truth…. **crickets**

          • awb22

            not if they’re aborted, it’s as if they never were.

    • Voldemort

      I’m on the same page. It would take a lot more than a stock market crash to send us back to the dark ages imho. Prepping 3 months worth of cash and supplies is never a bad thing though! Remember, what we call “prepping” was just common sense up until 50 years ago or so. Any old timer will tell you about the benefits of a deep larder.

  • Bible Based Christian

    Luk 13:3, I tell you, Nay: but, except ye repent, ye shall all likewise perish.

  • J B

    If people tore up their credit card(s), it would be all over in a month.
    If the USA stopped handing out Food Stamps, martial law would be have to be installed in a month.

    The entire economy relies on people buying stuff they don’t need or stuff they can’t afford with money they don’t have.

    • El mico

      Yep.

    • Steeve Girard

      Yep.

    • XSANDIEGOCA

      Yep.

    • Bill G Wilminton NC

      Yep

  • Bible Based Christian

    Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
    Your riches are corrupted, and your garments are motheaten.
    Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days. Jam 5:1-3

    • Bill G Wilminton NC

      Amen

    • REALIST

      Who is “Jam”?

      • Bill G Wilminton NC

        James

  • aldownunder

    I was watching one of the morning shows today down here in Oz and the suppos’ed finance guru said Dow was down 80 points at the moment Dow was already closed over 200 down
    They know 95+% of people don’t ever check the markets and zone out when the finance news comes on @ night just before the weather.
    They feed the people crap knowing that most won’t realise until its way too late, what’s happening at the moment,and what is going to happen in the future isn’t pretty
    Prepare for the worst and hope for the best it’s going to get ugly and only those who realise that the scam that’s been going on for decades can no longer continue have any hope
    Stay safe people

    • nevergiveup

      Loving that straight Aussie talk mate.

  • Steeve Girard

    I had announced 3 economic possibilities in a previous article related to oil. Out the 3 possibilities as of now… possibility no. 3 is the most likely to happen (the one indicated as an additional). The FEAR of not being able to get rid of inventories continues. That is gloomy, because they just had one good chance at stabilizing this crap for 7 years, and they let it passed. The Saudi plan to stabilize oil inventories is looking like a failure.

  • MaxRockatansky33

    Oh yeah! Dow is going to hit 30k! Thanks to Fed. Bubble is growing for the rich parasites sucking out energy from hard working people. Put a rally dunce tin foil caps, bulls are going to Spain!

  • Mad Monkey

    It is always worse than what they say it is!! My most favorite quote from 2015. Oil is now well below $30, Chinese stocks down -6.42%. QE 4 coming and ECB going to increase stimulus. Europe crashing while stimulus is being applying. applied.

    The other day I wrote about scrap steel prices tanking, this last week the scrap dealer sent us a note: they now want us to pay $80 per tonne for collection, it has all come to a grinding halt. The economy is over the tipping point has been breached, and is acceleration down the fiscal cliff to oblivion.

    • Steeve Girard

      To some point yes.

  • barry oldwater

    Is the BDI affected by fuel costs? Is there an indicator on amount of ships sailing, if there is, has that number declined?

  • Jazz

    You all are delusional. Spending is robust! From CNN, “The average resale price of a ticket to the Feb. 7 game between the Carolina Panthers and Denver Broncos is $5,178, according to ticket price tracker SeatGeek.

    That’s far above past Super Bowl ticket prices immediately following the conference championship games. This is the first time over the past five years that a Super Bowl ticket’s average price topped as much as $4,000 at this point in the football season.
    A pair of club seats near midfield have already sold for $12,100 each, making them the most expensive seats sold so far, according to SeatGeek.”

    If people have no money, how are they spending thousands on Super Bowl tics? Some recession. Lol

    • mtntrek3

      A few people actually have that amount of money to spend on a sporting event. Most go in debt for it. While I do watch pro sports………. I can’t afford to go to most games. Thousands of dollars for one ticket is just stupid.

    • Bill G Wilminton NC

      The barometer of the economy and the financial health of the Nation is measured by the middle class NOT THE PRICE OF SUPER BOWL TICKETS !. Food, Education, Health care, even your pets dog food and vet bill etc etc etc have risen in cost most dramatically. The cost of fuel is down…..but the auto repair cost, tires, insurance, etc etc are also up dramatically.

      Sitting in those seats at the stadium for the Super Bowl will not be the BACKBONE of a once great and prosperous nation THE MIDDLE CLASS because the middle class has been obliterated. At least the ROMANS had it correct their super bowls at the Colliseum were FREE………OH look in the arena ! here come some more of those horrible Christians and…. the lions look ferocious……..

      The fact that you can correlate what is a recession economy and/or the depth of a recession economy to the price of super bowl tickets shows me yet another example of the lack of acumen in your economic and financial skills bag. That I see OVER and OVER in your postings.

      What say fellow posters are you in agreement ? If so plse post a YEP.

    • REALIST

      The Super Bowl game, live, is a luxury item. You only need about 70,000 people to fill it and when you subtract out the corporate and promo tickets, maybe only 40,000 have to pay anything. We have millions of millionaires in America who can easily afford this and enjoy it. I could probably find 40,000 rich Mexicans who would pay this for a FIFA Final World Cup game.

    • Voldemort

      I imagine Coloradans have a lot to do with it. This place is BOOMING! Many of the people here are talking about the terrible condition of their local economies… that most certainly isn’t the case in this state. Even the poorest people in the “ghetto” are prosperous. Hell, I bet out homeless population is doing better than 99% of Americas middle class. A 5k Super Bowl ticket is nothing for these people. My 2c.

  • axinosp PAN

    When Spring Equinox is come …..

  • NorthernBud

    Here in Northern Ontario, Canada our Steel Mill is about to go under. Just layed off tons of workers and is currently going through bankruptcy restructuring. This is one of the #1 Steel Makers in the world (Essar Inc.).

    I’m a Mason (brick, block, stone), we currently have no residential jobs lined up for this spring.

    Plenty of Tim Hortons being built though. LOL

    The economy here in Canada is definitely feeling the effects…

    • Yooper

      Here in Soo, Michigan we are definitely seeing the effects of the poor exchange rate, where are the Canadian customers? We cannot make it without their patronage.

    • REALIST

      You need more immigrants. Take in 5 Million from the Middle East, 10 Million from Mexico and 10 Million from Africa and you’ll have a growing economy.

  • XSANDIEGOCA

    How’s that HopeyChange treating ya?

  • jox

    Will the FED print another trillion? Will have an effect? Here in Europe the EBC is determined to print even more (right now 60.000 million euro every month).

    • REALIST

      It’s only money.

  • Rick

    Why do you worry so much about the Baltic Dry Index? There must be some agency created in DC that can change the formula on that like they do with unemployment and inflation, right. Once they get on it, it will be all fixed, nothing to worry about. Must be an oversight, something that slipped through the cracks at the FBP (Federal Bureau of Propaganda). Or as obama likes to call it, “fiction peddlers”.

  • TtT Engine

    OB, the Charlatan in Chief, in his willfully delusional State of the Union address, said we economic realists, are “peddling fiction”. OB promised to “fundamentally change the US of America” and has delivered on that promise in a big way. The nation is watching on the sidelines while the government kings manage this train wreck. That means the government kings continue to feed the voracious government beast by e-creating money to fill the shortages and then keep saying we are right “on track” for great days ahead. Without quality life sustaining employment, we are rearranging deck chairs on the Titanic. 100 million people out of the workforce. 80 million retirees coming in the next 20 years. WOW ! Jan/2017 seems like a LONG way off. There is plenty more damage the left can inflict on our nation before then. Qs; The world is on fire because the US weakened itself and chose to pursue a path of major decline. Our nation had stage 3 cancer. Has it now progressed to stage 4 cancer ? Are we living or are we dying ? Ask the 60 million aborted babies. Ask the Christians slaughtered by the Islamo-Nazis. Assuming we make it until 11-4-16, who will you JUDAS catholics vote for this time ? Christi Fidelis !

    • Gay Veteran

      “…Ask the Christians slaughtered by the Islamo-Nazis….”

      weren’t no Christians being slaughtered in Syria until American neo-cons started trying to overthrow Assad

      • Bill G Wilminton NC

        well said………….

  • jakartaman

    1I have left this site because of stupidity – Posting

    • REALIST

      You’re still here (that is a bad joke)

  • Marty Mann

    Consumer confidence was high this morning and boosted the dow another 100 points on top of the 130 already there because of a rebound in oil again. Consumer confidence speaks volumes but as soon as oil dips so will stocks.

    • Bill G Wilminton NC

      The correlation between the stock market prices and the price of oil is questionable at bes……….t

      • REALIST

        The correlation between the stock market prices and prices for shares on the market is questionable at best…………..

  • nevergiveup

    The time gaps between these 1-2% peaks and troughs on a number of the stock exchanges seems to be decreasing. For example, it seems to me that last year it would take a period of days for a dip to occur after a positive run (and vice versa). Now it seems to be taking hours in certain instances. Please note…my knowledge about and ability to track the markets is limited – this is just my perception.

    • SP2300ROFL

      Your perception is correct. Price discovery is returning to a much more efficient process now that central banks have somewhat reigned in excess liquidity and are returning he function of creating capital to money center and regional banks.

      • nevergiveup

        Thank you for your reply.

      • Bill G Wilminton NC

        returning the function of creating capital to money center and regional banks… lol

  • REALIST

    I have a problem with all this talk about new lows for the BDI (Baltic Dry Index). How much of the decrease is due to decreasing shipping of products, and how much is due to the increase in ships? If I ship 100 tons and bid on 2 boats, but next year I ship 110 tons bid on 4 boats, did the price change because of the size of the load or the competition from more available ships? So, tell me the QUANTITY of goods shipped. OR look at it this way. Next year I ship 90 tons but there is only 1 ship available. What do you think will happen? Rates UP so the economy is better?

    • Bill G Wilminton NC

      It is a blend of decreasing exports of chinese products and this causes excess capacity of ships, obvious. But there are other mitigating factors and when shipping costs go down it is not because of a booming economy, obvious.

    • Gay Veteran

      don’t like BDI, then look at railroads and truck shipping, it matches the downturn in BDI

  • REALIST

    Did the Unions sit down with the coal company and railroad companies and agree to lower their pay and benefits so it would be profitable to stay open? Probably not. Too much UNION PRIDE and all that. I’ve worked all my life from collecting glass coke bottles when 7 years old to today, working 6 and 1/2 days a week. Don’t ever over-rate yourself and never be to proud to take the pay that is out there. You are only worth what somebody else is willing to pay you. Want more? Pay yourself with your own job, but get over this UNION pride crap. It is not coming back and 1 Billion Chinese children will work for less than you.

    • Gay Veteran

      “…Pay yourself with your own job, but get over this UNION pride crap. It is not coming back and 1 Billion Chinese children will work for less than you.”

      you destroyed your own argument, NO American can compete with lowly paid Chinese laborers.
      unions are a needed counterweight to corporate power

      • FortuneSeek3rz

        A terrific example of an informal fallacy. Do you really think unionization didn’t make outsourcing more popular? Speaking of destroying one’s own argument.

        And China has a very large trade union, yet they complain they are poorly payed and poorly treated just like Americans do (did). The only difference is they ended up with the manufacturing jobs.

        • Gay Veteran

          when did the outsourcing of millions of American jobs begin?
          under NAFTA brought to us by Slick Willie, LONG AFTER unions having any real economic power. So there’s YOUR argument destroyed

          trade unions in China? you mean the government controlled trade unions

          • FortuneSeek3rz

            No it did not start with NAFTA. You’re still ignoring the corruption of American labor unions going back to the 1930s although the largest factor was the advent of the internet and other technologies which accelerated the ability to outsource labor.

            The government and labor unions are both made up of people who are influenced by greed, or to put it another way, the desire to improve their own financial status by paying the least and getting the most, and taking the most pay for a given amount of labor. How many workers out there have ever turned down a pay raise? That economic behavior is so widespread to blame the government or corporate entities is absurd.

          • Gay Veteran

            “No it did not start with NAFTA….”

            hey Einstein, NEVER said it did. I said when did the outsourcing of MILLIONS of American jobs begin?

            “…You’re still ignoring the corruption of American labor unions….”

            yeah, just ignore the corrupt corporations who don’t give a damn about America

            “…The government and labor unions are both made up of people who are influenced by greed….”
            well god knows corporations are NEVER influenced by greed /sarc/

          • FortuneSeek3rz

            And you have a source that says before NAFTA there were less than a million jobs outsourced in America? I’ll wait for you to post that one…..

            I’m not ignoring corrupt greedy corporations any more than you’re ignoring the fact that everyone has a right in this country to improve their bottom line. If it’s “Greed” when corporations do it, then it’s greed when YOU try to find the most cost effective product at your local retailers.

            And back to my question, have you ever turned down a raise? Yes/no

          • Gay Veteran

            “And you have a source that says before NAFTA there were less than a million jobs outsourced in America? I’ll wait for you to post that one….”
            you can wait until the stars burn out because I never said that

          • FortuneSeek3rz

            You said millions of outsourcing BEGAN with NAFTA. That means before NAFTA there was LESS than a million by axiom. Whether or not you understand that belies your own level of intelligence.

            You can’t hold yourself accountable for anything you say because you don’t have any hard numbers. You’re posting with emotion that has no references…

            Keep turning those raises down GV….

          • Gay Veteran

            well corporate boot licker, come up with some numbers yourself.

            you sure do avoid the point: “free trade” is destroying this country

          • FortuneSeek3rz

            Yeah, this 18 trillion dollar economy with the fourth highest median income in the world is really awful.

            And I didn’t avoid the point at all. I asked you to show that millions of jobs weren’t shipped overseas before NAFTA – nothing from you.
            Then you can’t distinguish between an American citizen having the right to improve his bottom line and a corporation having the same right.

            And a five second Google search would show you what NAFTA has affected in terms of American jobs. Roughly 850,000 lost jobs have been attributed directly to NAFTA, all of which Americans support as they continue to clog dollar stores in search of the best value. It’s either higher retail prices, or the return of manufacturing jobs, and you can thank in part, the legacy of labor unions in your country.

          • Gay Veteran

            gee, actual unemployment rate well more than 20%, real income down, and you’re still crowing about sending American jobs overseas.

            yeah, keep licking that corporate boot

          • FortuneSeek3rz

            Things are so awful but no one wants to leave….right. Maybe when manufacturing jobs return from China, Michael can write an article about how the price of LCD televisions have increased by 90% and you can have another pity party about how tough life in America is.

            Yay labor unions!

          • Gay Veteran

            hey Einstein, labor unions haven’t had any strength since the 1970s, but millions of American jobs CONTINUE to be shipped overseas while the politicians continue selling us out with new “free trade” pacts

            the American middle class is now a minority, so keep licking that corporate boot

          • FortuneSeek3rz

            BS, I was around in the 80s and 90s and labor unions were still quite proactive. Labor will continue to go wherever it can increases a business’s bottom line. And you will continue to support it while you shop for the most cost effective product. Then you’ll come here to vent your pie in the sky ideology as if something is wrong. Stop bloviating and wake up.

          • Gay Veteran

            oh the corporate boot licker is back!
            tell the vanishing American middle class how “free trade” has benefited them so much

          • awb22

            yes, tell the police state boot licker

          • Gay Veteran

            whoa, the Stoopid is strong with you!

            thy shalt not bear false witness. WHERE have I favored the police state?

          • FortuneSeek3rz

            They support it, so it must benefit them. You support it too everyday you seek to better your own financial bottom line.

          • Gay Veteran

            hey Einstein, “support” it?

            what choice do they have when their wages have gone down due to MILLIONS of American jobs being shipped overseas

          • awb22

            sodomite joe doesn’t support anything except the state forcing you to accept his lifestyle

          • Gay Veteran

            awwww Sodomite Obsessed Polly, I’m being forced to accept your lifestyle

          • awb22

            you couldn’t be more wrong, the federal workforce is the largest unionized workforce in the world.

            keep licking the feds boots.

          • Gay Veteran

            whew, the stoopid is strong with you!
            was anyone talking about the federal workforce and outsourcing THEIR jobs?

          • awb22

            stop back tracking.

          • Gay Veteran

            awwww, you need to brush up on your reading skills

    • Bill G Wilminton NC

      Well said sir……much truth and accuracy.

  • Steve Hansen

    We have a system that are based on debt. Thats the foundation! And a huge part of this debts can never be paid back.

    It’s not a matter of “if” the system is going to crash, it is “when”! With that I don’t think of the Dow going down 50 percent or something, that will only be a needed correction the way I see it.

    • sistersoldier

      So, let me see if I got this right. By your admission the foundation is flawed? Is that correct? If a huge part of the current debt can never be paid back then eventually there is a day of reckoning when what is built on it must come down. Because there is a built-in fundamental flaw designed for collapse from the day of its conception.

      Just trying to understand………

      • Steve Hansen

        You can almost say the foundation is a fantasy or a fairytale. In simple terms the foundation is a credit card backed by another credit card. Behind that is nothing! So this system we live in HAS to come down! There is no way around it. The question is just “when”.

        But its not the end of the world, a new system will replace the one we have, but I have no ideas what that’ll look like!

        • sistersoldier

          I think I have a pretty good idea…. Where would you like for your Special Drawing Rights to be stored Sir? Your right hand or your forehead?

          • Bill G Wilminton NC

            well said sistersoldier……….

          • Steve Hansen

            Keep dreaming!

    • REALIST

      Our system is not really based on “debt” as traditionally understood. It is based on the issuing of “credit” from bankers given the “right” to issue notes, etc. They then call it debt and require you to pay it back, even though it had NO intrinsic value. They never loaned you gold, or silver or even copper chain. They created “credit”. For this reason it can be cancelled at any time, but the “game” is played for reasons most people refuse to consider or discuss. IT is not about money, debt, credit, notes, etc. It is about control.

      • Bill G Wilminton NC

        Wrong………our monetary system is based on DEBT our money is BORROWED into existence. That is why the debt can never be repaid. If it were there would be no money in existence. A diabolically devised system that will impoverish all nations as the central banking system ” the octopus ” has its tentacles in almost every country in the world.

        • HeyAHuman

          You’re both right. It’s about control through signing people onto debt. Every dollar printed is a deed to pay it back to the Fed. We are debt slaves, and credit from banks has only exacerbated the problem.

      • Steve Hansen

        Those who control the money supply is the ones in control of the world.

        If I had a printing press in my basement and could create “money ” out of thin air, why would I ever want anybody to pay those money back to me? If they did, I would loose control and power. If I needed money I would just print more…

        But this debt based system has to go down, no printing press is going to help them to avoid the crash, but they sure can delay it as they have shown in the past.

        • REALIST

          Nothing says it has to go down.

          • Bill G Wilminton NC

            Banking, Central Banking, and Insolvency.

            Federal Reserve Act 1913 illegal banking cabal was the first leg.

            Our leaders are TRAITORS… dem or repub two wings same bird and the bird is heading into a wall at 100mph by design.

          • Steve Hansen

            Just one way to find out I guess!

        • Bill G Wilminton NC

          The USA will go down BY DESIGN to bring in a “New World Order”.

        • SP2300ROFL

          Seriously if you don’t know the correct spelling of lose (not loose) should you be taken seriously with those misconceptions of the complexities of a fractional reserve banking system?

          • Steve Hansen

            Sorry about that – English is not the language I use daily.

          • SP2300ROFL

            In that case I apologize as well. However that does not mean I agree with the analysis of fractional reserve banking and/or its effects regarding where stock/equity prices are headed. Maybe a look at Exeter’s pyramid may be helpful.

  • Priszilla

    Somehow the blowout of the oil bubble looks like the end of the Internet bubble in 2002.

  • Cal

    Before I pass, please accept Jesus Christ as your Lord and Savior. Call on the name of the Lord and you shall be saved. Also repent of your sins. It’s your only hope and if you get saved you will end up in glory. Jesus loves you and is standing by to save you. Please get saved before God shuts the door and it’s too late. Praise the Lord and God Bless.

    • Bill G Wilminton NC

      Amen………

    • REALIST

      Are you serious?

  • billtheguy

    Well said cal. I’ll be going in the Rapture.

    • Bill G Wilminton NC

      And away we shall go…….out of this septic tank…..straight up. Amen

      • Gay Veteran

        bilge.

        • Bill G Wilminton NC

          We are LIVING in the BILGE.

    • REALIST

      It will be glorious. Millions will die. Planes will fall out of the sky. Children will burn and be crushed in train, car and bus crashes. The LORD will return and there shall be 7 years of pain, of hell, of suffering and damnation………………I can’t wait.

      • Bill G Wilminton NC

        some story but not accurate……

  • nekksys

    In my home town, we have a UP rail yard and several rail lines coming into that yard. Shipping has been so bad, the east-west line has been shut down. Every rail crossing is marked “Tracks no longer active”.

    • SP2300ROFL

      The Panama Canal expansion project, also called the Third Set of Locks Project, is intended to double the capacity of the Panama Canal by 2016 by creating a new lane of traffic and allowing more and larger ships, the New Panamax size, which are about one and a half times the current maximum width and length (known as Panamax) and can carry over twice as much cargo

      At one point was less expensive to offload and rail across USA. Those days are ancient history.

      China sure has outfoxed many. Keep waiting for media to spoon feed you then you’ll continue to be duped by sites like this.

      • KansasGirl

        We can thank Carter for that…can’t we?

  • Mr. Jameson

    Baltic Dry Index 1/26/2016: 345 down 9pts. Ready for crises yet?

  • Dio Jones

    As foretold… All churches need to be readying for house meetings… back to the beginning… Acts…

    As Always we are shininginthedark for all to see His Glory!!

  • SP2300ROFL

    :)

  • SP2300ROFL

    Meanwhile in the real world stock market indices spiked higher another two percent building on last weeks five percent gain and copper a leading economic indicator is up another two percent after last weeks three percent gain while you’re forecasting an imminent complete collapse. Well done genius you’re doing a great service to your viewers!

    • ollie173

      DUMMY

  • CharlesH

    If you get all of your news from main stream media then you have no one to blame other than yourselves – in the first place. Everyone has access to the alternative media (Internet) – there are literally millions of sights you can go to and get valid, up to the minute information. Drive around and just talk to the people – listen to them when they’re in the stores, what they’re talking about. I get so much information just from speaking with people in town – in the stores, etc. Go to YouTube and view some of the videos that pertain to the economy of the U.S. and what’s going on. The bottom line is we’ll all do better if we make ourselves smarter. We have to do it for ourselves, our loved ones and our neighbors. We really are in this big ole boat together.

  • “what riches hath not the FABLE of the Christ brought us?”
    Pope Leo X (1473-1521)

  • A guy from Ukraine

    The Baltic Dry Index Michael referred to above just keeps crumbling (just follow the link he provided). The collapse of the BDI is nothing short of undeniable evidence of ongoing worldwide collapse in international shipping, an index watched closely by those in the maritime domain. Not even during the darkest hours of the 2008-2009 crisis did it fall that low. To my mind, this portends horrors for shipowners that already strugle to survive with low freight rates. Most shipowners are now burning off fat accrued during relatively stable years of shipping. When it’s gone, the world of seaborn shipping will start crumbling taking hundreds of thousand of good paying positions worldwide with it. If the index fails to rebound withnin the next six months or so, the game will be as good as over for a vast majority of shipowners.

  • jj.

    It has arrived and will never stop until his return no matter what. It will wax worse and worse. Prepare your hearts and homes for his judgement has begun. We are finally on the road to glory while some are on the road to perdition. Every day now we see the Lords glory through his judgement of this wicked vile untowards generation. without judgement there is no repentance and without judgement there surely is no return of Christ. So embrace the collapse of a haunty, evil world because it means the soon return of our Lord

  • sistersoldier

    “Friendship…. is born at the moment when one person says to another, “What! You too? I thought that no one but myself….”

    • Madamarcati

      Holdfast – fellow traveller, holdfast…

  • DB200

    Nice steam train picture and very outdated. In The Netherlands they had streamlined electro-diesel trains in 1934. In 1952 steam was ceased.

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