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If The Economy Is Fine, Why Are So Many Hedge Funds, Energy Companies And Large Retailers Imploding?

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Demolition - Public DomainIf the U.S. economy really is in “great shape”, then why do all of the numbers keep telling us that we are in a recession?  The manufacturing numbers say that we are in a recession, the trade numbers say that we are in a recession, and as you will see below the retail numbers say that we are in a recession.  But just like in 2008, the Federal Reserve and our top politicians will continue to deny that a major economic downturn is happening for as long as they possibly can.  In this article, I want to look at more signs that a dramatic shift is happening in our economy right now.

First of all, let’s consider what is happening to hedge funds.  For many years, hedge funds had been doing extremely well, but now they are closing up shop at a pace that we haven’t seen since the last financial crisis.  The following is an excerpt from a Business Insider article entitled “Hedge funds keep on imploding” that was posted on Wednesday…

BlackRock is winding down its Global Ascent Fund, a global macro hedge fund that once contained $4.6 billion in assets, according to Bloomberg’s Sabrina Willmer.

“We believe that redeeming the Global Ascent Fund was the right thing to do for our clients, given the headwinds that macro funds have faced,” a BlackRock spokeswoman told Business Insider.

The winding down of the Ascent fund is the second high-profile hedge fund closing in 24 hours. The Wall Street Journal reported Tuesday that Achievement Asset Management, a Chicago-based hedge fund, was closing.

And those are just two examples.  Quite a few other prominent hedge funds have shut down recently, and many are wondering if this is just the beginning of a major “bloodbath” on Wall Street.

Another troubling sign is the implosion of so many energy companies.  Just like in 2008, a major crash in the price of oil is hitting the energy sector really hard.  Just check out these stock price declines…

-Cabot Oil & Gas down 37.27 percent over the past 12 months

-Southwestern Energy down 68.11 percent over the past 12 months

-Chesapeake Energy down 73.98 percent over the past 12 months

A number of smaller energy companies have already gone out of business, and several of the big players are teetering on the brink.  If the price of oil does not rebound significantly very soon, it is just a matter of time before the dominoes begin to fall.

We are also seeing tremendous turmoil in the retail industry.  The following comes from Investment Research Dynamics

The retail sales report for October was much worse than expected.  Not only that, but the Government’s original estimates for retail sales in August and September were revised lower.  A colleague of mine said he was chatting with his brother, who is a tax advisor, this past weekend who said he doesn’t understand how the Government can say the economy is growing (Hillary Clinton recently gave the economy an “A”) because his clients are lowering their estimated tax payments.  Businesses lower their estimated tax payments when their business activity slows down.

The holiday season is always the best time of the year for retailers, but in 2015 there is a lot of talk of gloom and doom.  Most large retailers will not start announcing mass store closings until January or February, but without a doubt many analysts are anticipating that once we get past the Christmas shopping season we will see stores shut down at a pace that we haven’t seen since at least 2009.  Here is more from the article that I just quoted above

Retail sales this holiday season are setting up to be a disaster.  Already most retailers are advertising “pre-Black Friday” sales events.  Remember when holiday shopping didn’t begin, period, until the day after Thanksgiving?  Now retailers are going to cannibalize each other with massive discounting before Thanksgiving.  Anybody notice over the weekend that BMW is now offering $6500 price rebates?   The collapsing economy is affecting everyone, across all income demographics.

Last week we saw the stocks of Macy’s, Nordstrom and Advance Auto Parts do cliff-dives after they announced their earnings.  I mentioned to a colleague that the Nordstrom’s report should be the most troubling for analysts.  Nordstrom in their investor conference call said that they began seeing an “unexplainable slowdown in sales in August in transactions across all formats, across all catagories and across all geographies that has yet to recover.”  

I think that a chart would be helpful to give you an idea of how bad things have already gotten.  Jim Quinn shared this in an article that he just posted, and it shows the change in retail sales once you remove the numbers for the auto industry.  As you can see, the numbers have never been this dreadful outside of a recession…

Retail Sales Ex-Autos

But stocks went up 247 points on Wednesday so everything must be great, right?

Wrong.

The stock market has never been a good barometer for the overall economy, and this is especially true these days.

In 2008, stocks didn’t crash until well after the U.S. economy as a whole started crashing, and the same thing is apparently happening this time around as well.

One of the things that is keeping stocks afloat for the moment is stock buybacks.  In recent years, big corporations have spent hundreds of billions of dollars buying back their own stocks.  The following comes from Wolf Richter

IBM has blown $125 billion on buybacks since 2005, more than the $111 billion it invested in capital expenditures and R&D. It’s staggering under its debt, while revenues have been declining for 14 quarters in a row. It cut its workforce by 55,000 people since 2012. And its stock is down 38% since March 2013.

Big-pharma icon Pfizer plowed $139 billion into buybacks and dividends in the past decade, compared to $82 billion in R&D and $18 billion in capital spending. 3M spent $48 billion on buybacks and dividends, and $30 billion on R&D and capital expenditures. They’re all doing it.

Later in that same article, Richter explains that almost 60 percent of all publicly traded non-financial corporations have engaged in stock buybacks over the past five years…

Nearly 60% of the 3,297 publicly traded non-financial US companies Reuters analyzed have engaged in share buybacks since 2010. Last year, the money spent on buybacks and dividends exceeded net income for the first time in a non-recession period.

Big corporations like to do this for a couple of reasons.  Number one, it pushes the price of the stock higher, and current investors appreciate that.  Number two, corporate executives are usually in favor of conducting stock buybacks because it increases the value of their stock options and their own stock holdings.

But now corporate profits are falling and it is becoming tougher for big corporations to borrow money.  So look for stock buybacks to start to decline significantly.

Even though it is taking a bit longer than many would have anticipated, the truth is that we are right on track for a massive financial collapse.

All of the indicators that I watch are flashing red, and even though things are moving slowly, they are definitely moving in the same direction that we saw in 2008.

But just like in 2008, there will be people that mock the warnings up until the day when it becomes completely and utterly apparent that the mockers were dead wrong.

 

  • Alwaystomorrow

    The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015.

    Published 6/25/2015.

    43 days until 12/31/2015.

    Lets do a count down until the end of 2015 and see just what happens.

    ——————————————————————————

    By Michael S, on July 31st, 2015.

    “And I kind of appreciate the countdown. It reminds people of my warning, and perhaps it will give some readers a renewed sense of urgency.”

    • Kent Harris

      Instead of focusing on date setting maybe it would be just better to look at the overall big picture that the U.S. and the world economy is definitely moving toward a recession and possibly more.

      • Alwaystomorrow

        I agree.

        I did not set a date just a countdown to a date set by someone else.

        • SunnyFlaSnotress

          Welcome back! ::grin:: 😀

          • Watchman

            He’s back for your orgy that nobody else wants to sign up for.

          • SunnyFlaSnotress

            lol.. that’s so untrue

          • Watchman

            What’s untrue? the orgy or that nobody wants to sign up for it? You just admitted to one or the other being true.

      • Jazz

        The big picture is that there is no recession anywhere in sight. US economy is still growing – that is the opposite of a recession!

        • Bradley Schroeder

          Jazz,

          The economy is not growing at all. The funny thing is you and Michael will both be right. It is well known that the collapse has been planned for many years. The year that it was planned is 2018 per the Economist magazine. That would give us another 2 years. Michael is right on what is going to happen, but he is way too early.

          • J.L.W

            Disagree. That summarises that the US and China/ Russia are in it together, even though they are clearly not.

          • accountant_4_Jesus

            The leaders of the US, Russia and China are all members of the Freemasons and as such are all about creating the New World Order together. The US at the moment is the antagonist and Russia/China are the protagonist. The US is pushing for the New World Order by force (invasions of Iraq and Afghanistan, drone kills, etc) and being demonised as a result. Russia/China are pushing for the New World Order by peace and trade (BRICS bank, Asian Infrastructure Investment Bank, New Silk Road, etc). They’re opposite sides of the same coin. It’s designed to push people away from one approach and towards the other, but both achieve the same result. You know they’re succeeding when people have the us vs them mentality deeply ingrained in their thinking and think, as you said, that the US, China and Russia are on opposite sides.

          • J.L.W

            Those Asian banks are put in place to undermine Western dominance not support it.

            Russia has stopped the US gaining Assads oil pipeline and having alternative to Russian oil, thereby ending the fraudulent decrease in oil prices.

            I think people like you just prefer the emotional simplicity of doomsday thinking.

          • J.L.W

            The Chinese got rid of their ‘Illuminati’. Called the ‘Neo Maoists’ in the way you would expect China to deal with such a threat, they killed them! Russia got rid of theirs after 1990.

          • Alwaystomorrow

            Okay. I just penciled in 2018 for the collapse. Please keep me updated.

        • John Higson

          Maybe not in the official figures(GDP, inflation etc), but who ACTUALLY believes them? Not too many I would hazard to guess!

          I’ve met and argued with people of your ilk before, that argue that you shouldn’t talk an economy down because that becomes a self fulfilling prophesy, and there is something in that, but things aren’t great and that’s with all these emergency measures still in place 7 years(!) after the last crash! Even an idiot can see that what with these retail figures, the ongoing bankruptcies in energy and just the general economic malaise(real unemployment at 22-3% FFS!), if we’re not already in a recession then we almost certainly soon will be!

        • Watchman

          Zazz I’m convinced you really are so stupid that you believe what you are paid to post. What kind of trailer or rv do you live in and how “redneck” are you? I am surprised you know how to operate a computer let alone get on the internet.

          Don’t worry though Zazz you stupid idiotic troll the truth comes out. When the house of cards comes crashing on your “portfolios” it will be a brilliant day.

    • Niatross

      I don’t like you.

      • Richard

        I don’t like you either. In fact, I have a suggestion: put your head in a bucket of water three times and take it out twice.

      • Alwaystomorrow

        I can live with that.

        • Green tip

          Don’t worry Always, I like you.

          • Alwaystomorrow

            I can live with that too.

        • SunnyFlaSnotress

          I always like you too :)

      • Watchman

        Nobody likes Alwaystrolling except his troll orgy buddies like Sunny.

        Anyone remember the promise he made to Michael that if Michael answers that he will be gone forever and for good? Well he isn’t worth his promise.

        • SunnyFlaSnotress

          It was a lil white lie to give Michael a happy fantasy.

          • Watchman

            Trolls will keep on trolling. You just proved it. Now that you and your “partner” confirmed you are trolls here’s an idea GTFO.

          • SunnyFlaSnotress

            Get a muzzle on yourself Watchdog.

          • Watchman

            Careful Sunny or you may end up bitten with rabies. The heck with it let loose the dogs of war.

    • J.L.W

      Stock market was going down before Nov13 and now weapons companies investment is probably the thing that is leading it.

    • http://www.coroflot.com/joelpeeters/portfolio Joel Peeters

      Ah there you are… :-)
      Was wondering for a while if you were still with us lol…….

    • Watchman

      Once a troll always a troll right Alwaystrolling. Remember that promise you made to Michael to disappear well you are just full of *insert word here*. Now get ready for the beatdown of your life you worthless piece of meat.

      • SunnyFlaSnotress

        Always would retort you, but unlike you.. he has a real job and family and doesn’t derive all his happiness from Michael and his articles.

        • Watchman

          Sunny I know you have to repay your “partner” for the orgy but try not to make it too obvious. As for a real job and family all I can say is good one.

      • Alwaystomorrow

        Sweet talking me will get you nowhere. I thrive on your hate. Thrive, I tell you. :-)

        • Watchman

          Keep on thriving. Hopefully you will thrive so much that you explode into a million microscopic pieces.

    • gary hillerich

      a friend of mine..her family began Alpha Resources.. a coal energy Co..the largest coal energy Co. in the eastern half of the U.S. i believe if not the entire country,located in Bristol VA./TN. where i used to live and own a nightclub[Nightlife] and where I met her..she took it over[ I believe] but not positive as haven’t seen her in 15 years..anyway..in 2010 they [Alpha]acquired another huge coal energy Co. for 7 billion i believe..Alpha just filed BK and their stock is trading at 2 cents OTC[over the Counter]down from $60 a share just 10 years ago..incredible..Obama said he was going to destroy the coal industry and by God the satanic demon SOB told the truth for once in his miserable ifing life..he has..he did and will continue to BK them, so GE is the only coal burning Co left,and will have a monopoly on coal.

      “Competition is a sin” – J.D. Rockefeller

      watch for your electric bill to triple..quadruple and then go parabolic until you can’t afford to pay your electric bill any longer..it’s time to stand up..10 years ago that is.. and we sat on our S’s..don’t look at your electric bill..look/watch Al Qaeda and Big Bad Jihadi John chopping off phony dummy heads over here..no look over here at the 2 chairs turned over in the Paris Cafe by the um “ISIS Suicide Bombers”..ie..Federal Reserve central bankster “Crisis Actors”

      • Alwaystomorrow

        Times change. Change with then.

        • Watchman

          Obviously trolls are excluded from change such as yourself Alwaystrolling.

  • DDDDD

    I closed one of my retailer in August. Yesterday, we stopped by fast food to buy hamburger; there are many high students pact inside and asking for change to buy food because they are hungry and it becomes scary because so many students asking not one or two.

    • guest

      learn speak english good.

      • Liberty First

        No need to make fun of him, sounds like he is working hard to make a fair go of it and actually own his own business.

      • http://www.coroflot.com/joelpeeters/portfolio Joel Peeters

        What a stupid comment is that… Did it occur to you that he was a foreigner doing his best to speak in English so we can understand?

        • TheLulzWarrior

          Hey, I´m a grammar nazi, your argument is invalid.

        • Rob W

          Makes one wonder how many languages the good guest speaks fluently…

      • JF

        He’s doing better than some posters I see. He even has a pretty decent command of punctuation – better than most high school students.

    • Zenithon

      They probably just had the munchies.

    • alan

      What city is this?

      • SunnyFlaSnotress

        What country is this?

        • TheLulzWarrior

          What part of the world?

          The third-world.

          • Daystrom2012

            What part of the world?
            The third-world.

            Aka:the late great United States

    • Scoopie

      I wouldn’t deny that some kids are without and would ask for money for food, but it could be that they’re into drugs and it looks much ‘nicer’ to ask for money in that environment, more legit.

  • CASTIEL

    Too much people in this world…..few natural resourses for everybody…too much tecnology…that also help the increase of unemployment…and more important a hiper increase of stupidity of the people and the greed of the elites….well thats just a question of time before we hit the wall…

    • Alwaystomorrow

      CASTIEL, I agree with you, too much technology and an abundance of stupid people.

      • Niatross

        I take it you don’t believe you’re one of the stupid people.

        • Alwaystomorrow

          If I thought I were wrong or stupid, I would change. To not do so would be stupid.

          • Watchman

            No you are not wrong or stupid you are just everything that is wrong with this world. You have all the best of the worst qualities.

    • SunnyFlaSnotress

      Reminds me of a song..

      Too many people going underground,
      Too many reaching for a piece of cake
      Too many people pulled and pushed around
      Too many waiting for that lucky break

      That was your first mistake
      You took your lucky break and broke it in two
      Now what can be done for you?
      You broke it in two

      Too many people sharing party lines
      Too many people never sleeping late
      Too many people paying parking fines
      Too many hungry people losing weight

      That was your first mistake
      You took your lucky break and broke it in two
      Now what can be done for you?
      You broke it in two

      Too many people breaching practices
      Don’t let them tell you what you want to be
      Too many people holding back
      This is crazy and maybe it’s not like me

      That was your last mistake,
      I find my love awake and waiting to be
      Now what can be done for you?

      She’s waiting for me

      • amoneygame

        Apple Records…Paul McCartney…Ram. Brings back memories.

  • MIchael in Chicago

    Kolh’s, Wal-Mart and Urban Outfiters could be added to that list of companies with recent horrible earnings. I read something about ‘the warm weather’ being used to blame the poor earnings. 11/19 earnings come out for Best Buy, Gap, and Sportsmans Warehouse Holdings Inc. They should all be horrific. Anyway. It looks like the Fed will be raising rates in a few weeks and if the past is any indication they will be forced to lower them soon after. History has proven that every country that tried to raise rates after 2010 soon after had to lower them. The global economy never recovered from 2008 and with more QE mentioned in today’s Fed minutes more pain is clearly in the forecast.

    • Guest

      It’s hard to say what the Fed will do next month. Sure, they may raise the Federal Funds Rate by 25 basis points. That way they can say that they DID raise rates. Otherwise they risk losing what little credibility they may still have. I guess we’ll just have to wait and see. ‘Twill be interesting.

  • Bill

    I do believe the collapse is underway. The best indicator I know is my local Walmart parking lot that I’ve mentioned before. Today there were more parking spots open then I’ve ever noticed. The velocity of money is definitely slowing. The terror fear is being heavily pumped by the media which may be the knockout punch for holiday sales, store survival and the economy as a whole.

  • Guest

    Third quarter sales for the company I work for were down significantly, which caused our parent company’s stock (MW) to plummet. At 4:00 this afternoon the store was dead, all of my coworkers (5 of them) were sitting around talking. We have a lot of inventory in the store that isn’t moving.

    • df NJ

      What state and town do you live in?

    • Alwaystomorrow

      Be patient.

      You’re Gonna Like The Way You Look, I Guarantee It

  • Jazz

    Stock market still heading to all-time highs. The economy may eventually slow but it is quite strong right now if you look at consumer spending, new construction, auto sales etc. We have years before the next crisis. The lower and middle class are having a rough time and it will get worse before it gets better but no stock market crash for a few years.

    • Green tip

      Your a breath of fresh air Jazz in a otherwise $hity forecast. I get tired of reading all the negative crap. Thanks for your perspective.

      • Jazz

        No problem! I see the glass as half full. My longer term forecast isn’t so rosy, but I see the next few years being good for the US markets and economy as a whole.

        • df NJ

          The CEOs would double everyone’s salaries before they would allow economic collapse to take away their power and economic privileges.

    • Viper

      Yes, the stock market maybe heading higher, but as Michael said, the markets are the last to fall and he is correct in the market is staying up due to stock buybacks and I would surmise backdoor QE.

      I work for a specialty global chemical corporation and we saw our orders take a nosedive in June. That has never happened before, even in 2008. We are still producing some of our products, because they go into household products, cosmetics, etc… But, we are only running at 50%. And, the company as a whole will have a global shutdown for a couple of weeks the week after Thanksgiving. However, we will still only be at 40% to 50% run capacity due to lack of orders.

      Before 2008, we were always running at 100% and overtime was plentiful. Since the depression started, we have shutdown every holiday and only a couple of people were working just to keep an eye on things.

      Say and think what you will…. We are in a major depression.

      • Jazz

        I get all that. My issue has been – why issue a RED ALERT for the “stock market” for the last 6 months of the year? The Fed will keep juicing the markets for as long as they can. In my estimation they still have years before the game is up.

        • Watchman

          All readers and commenters of this blog pay attention and note that Jazz is Zazz and the other nicknames he uses. He is a paid troll who posts on other forums and websites and leaves a footprint that can be seen from the edge of the galaxy.

          Note how he is absent whenever there is a correction and whenever there is negative or market turmoil. He uses the same scripted message and to try and confuse and distract readers he pretends to “understand” what Michael is writing about just to pretend to give himself credibility.

          The funny thing is that Jazz/Zazz is so popular on other forums and websites (he really is not) that he just keeps on posting the same things about market highs. He’s just one of the trolls that infest the comment section.

          • SunnyFlaSnotress

            What makes you so sure that Zazz is a “he”?

          • Watchman

            Does it matter or are you just trying to distract and are up to your usual trolling behavior.

    • Mad Monkey

      “consumer spending, new construction, auto sales etc” is all debt driven sales – non debt driven sales is down down down….. Consumer has no money left – and debt will dry up soon.

    • Watchman

      Hey Zazz how’s it looking up there from the troll highs? The only highs you have are what you are smoking. Notice how you are absent whenever there is negative gains.

    • GoldenGirl

      Hey Jazz, did you see Martin Armstrong’s blog post today schooling everyone on why stocks rise in a bad economy? This is definitely New Age Economics, and his post on that topic is also worth reading. I know I’m preaching to the choir with you, but if others would read what he has to say and try to understand that the real problem is our sovereign debt, then we all might have a better chance of protecting ourselves in the times ahead. It’s going to be rough.

      • Jazz

        Yes I did see that. His posts are always interesting and educational. I agree that if people took time to understanding what the crisis actually is they could make money from it. I have been investing in the currency, commodity, and world markets. The picture becomes a lot more clear when you understand the bigger picture and not just so focused on the US economy.

  • GSOB

    The biggest problem in all the world, by far, is
    lawlessness

    • df NJ

      By politicians and corporate leaders!

    • alan

      Call the cops and you might end up shot.

      • JF

        Pull a gun and I don’t blame a police officer for shooting you.

        • amy

          i agree…cops just want some cooperation…just follow some direction and quit egging the cops on..

          • Rob W

            BS.

          • Gay Veteran

            tell that to the guy who was shot in the back repeatedly, and if there hadn’t been a video the cop would have gotten away with it

        • Gay Veteran

          killer cops kill people without guns.
          but they wear that magic blue uniform and get away with murder

          • Educated and Knows Better

            Yeah all cops are bad. You must get all your “info” from CNN because you are clueless. There are bad apples in EVERY profession.

          • Gay Veteran

            what good cops? you mean the ones who won’t turn in the bad cops

    • SunnyFlaSnotress

      Reminds me of a song..
      Mama pyjama rolled outta bed, she ran to the police station
      When the cop found out, he began to shout, he started the investigation
      And it’s against the law, it was against the law
      What what mama saw, it was against the law

      Mama looked down and spit on the ground ever time her name gets mentioned
      The cop said oy, if I get that boy
      I’m gonna stick him in the house of detention
      Well I’m on my way, I don’t know where I’m goin’
      I’m on my way, takin’ my time, but I don’t know where

      Goodbye to Rosie, the queen of Corona
      Seein’ me and Julio down by the schoolyard
      Seein’ me and Julio down by the schoolyard

      In a couple of days they’re gonna take me away
      When the press let the story leak
      Now when the radical breach comes to get me released
      Appears all on the cover of Newsweek
      And I’m on my way, I don’t know where I’m goin’
      But I’m on my way, takin’ my time, but I don’t know where

      Goodbye to Rosie, the queen of Corona
      Seein’ me and Julio down by the schoolyard
      Seein’ me and Julio down by the schoolyard
      Seein’ me and Julio down by the schoolyard

  • K

    Yes, I think we are already in a recession. But as far as the Fed, or the government goes. Why would they not lie about it? They both, neither care or respect the common citizen.

  • Liberty First

    Not looking so good. Michael, though, I think you need to focus sometimes on being positive about how to deal with what is coming. Brother, I am tired. My family will hear in two weeks whether we will have once last chance to leave the country to go to Australia. All western civ is going to suffer, but I think Australia will be better for our daughter even if it will be hard. Heck, it was hard for the Jews who understood what Hitler was doing to leave Nazi Germany while they could. Just saying. I want to go back to a time when we were free. People just lived and let live. Don’t see it happening soon.

    • SunnyFlaSnotress

      Oh yes! Go for Australia!

      • Liberty First

        It is a cool place.

  • df NJ

    Oil below $40. The German Wendelstein 7-X will make oil obsolete. And they are going to turn it on for real this month. Very exciting. If the test works oil will be $15 per barrel by June of next year!

    • df NJ

      There also a really cool super conductor wire for transporting electricity efficiently. You could have solar panels in all the worlds deserts and transport the energy to every city on earth 24 hours a day. Fossil fuel is on the way out.

  • amoneygame

    I am still waiting for the big November correction. Next year, we will all be hearing how an economic collapse is imminent.

    • jox

      Not at all. Next year we will be hearing that the economy is very well. Less people working, more companies closing, but the economy will be allright one more year.

  • Cyber Revengeance

    As long as cheap credit from FED is there, stock market will not crash. Economy is slowing down but it is not bursting. Some companies are not doing well but still other companies are keeping things afloat.

  • mtntrek3

    The world’s printing presses keeping what’s left of the economy propped up. Anyone’s guess when this will fail. It’s a wonder to me the economy hasn’t totally failed already. ’08 was a brief preview of what’s to come. We need to prep however we can.

  • Alex

    Buybacks serve only one purpose – to show that a company is supposedly doing well so its stocks will continue to be purchased and accordingly company’s ability to borrow is not going to be affected. This is the last attempt to attract investors (credit is almost impossible to obtain these days and margin calls are all over the place) but it is not going to work because even US treasuries are being sold at tremendous pace. Trust is lost and everyone understands by now that stock market is a casino, that charts of the supposed growth actually reflect growing debts (that is what the debt based economy is for), and that the whole system is utopian and heading for total collapse (systemic debts cannot be repaid under any circumstance). So what else is there to add?

  • ProclaimingGodsTruth

    Thanks Michael for continually sounding the trumpet, warning of what’s coming.
    It will get worse folks, much worse. Black horse of Rev 6 says much economic trouble coming unlike never before. Don’t believe me…? Name one Bible prophecy that never came true? Just one…
    When the skeptics, mockers and scoffers have little or nothing to eat; well, then they’ll eat their words!
    Read your Bible – know Almighty God!!! Time is running short.

    • jox

      NOT EVEN ONE of the profecies of the Bible have become true. The fact is that you cannot predict anything based on the Bible.

      • ProclaimingGodsTruth

        My goodness man read history, discover Bibical archaeology. Examine what they have found today in science and how it matches the Bible totally.

        • jox

          What, the Earth is flat and is hanging still in the space??? The Bible has been refuted by science centuries ago. Sorry.

          • ProclaimingGodsTruth

            Best do more reading Bud! Even scientists who have strived to disprove the Bible have failed and in fact have become Christians.
            Open more books and examine more of reality friend.

          • jox

            Yeah. Bible allways has been wrong. The Pope has been force to apologize to science again and again. You have not a single theory or a single prophecy right. But everything is my fault because I don’t read enaugh. Sorry Galileo! I suggest yo DO read something different than the Bible, from time to time.

          • ProclaimingGodsTruth

            Believe what you want then … you will find out the truth one day.

          • jox

            The same applies for you.

        • Gay Veteran

          find that ark yet?

          • ProclaimingGodsTruth

            Do we need to?

          • Gay Veteran

            your fellow Christians keep on telling me it was found

          • ProclaimingGodsTruth

            Not yet – lots of speculation. In reality does it matter? My faith is not established on the finding of the Ark. Mt faith is built on knowing that the Jesus Christ came to earth to save people and show them the way to know and serve God. But they rejected Him. They killed Him but He rose again for me, for you. But … you must believe in faith. Confess that you are a sinner and repent.
            There’s only two kinds of people in this world – the saved and unsaved. This life is but a vapor, a bus stop. Eternity, however, is forever. My faith is with my Lord and I know I will live with Him in His home – heaven when I exit this life.
            And you …?

          • Gay Veteran

            there’s only two kinds of people in this world – the thinking and the non-thinking.

            btw, why does god NEVER answer the prayers of amputees?

          • ProclaimingGodsTruth

            And … what’s their prayer/s? You must remember that we are not God. God made us and acts according to His schedule and according to His will. Too many times we humans think we are God and think we know better than He.

          • Gay Veteran

            oh but soooooooo many people claim god cured them, but not the poor amputees:
            whywontgodhealamputees dot com

  • John Doe

    The comment section has collapsed. There use to be some interesting comments but it has degenerated into a predictable few trolls seeking attention and others giving them the attention they are so desperately seeking. There is Allwaysatroll who hasn’t had a date in fifteen years, living with his parents and his online girlfriend Sonnythetroll. A morbidly obese, single mother of five, all running around in poopie diapers and living in a trailer. Quite a pair.

    • SunnyFlaSnotress

      No. no, I live in an florida apartment complex with 4 pools, 2 of which are heated, 4 clubhouses, and 2 gyms. Always is a married man.

      • John Doe

        You don’t deny being fat though.

        • SunnyFlaSnotress

          I am not morbidly obese.. a few lbs more than I’d like, but you can never be too skinny or too rich (well actually once I did get skinnier than I liked)

    • Alwaystomorrow

      John Doe, I see you read my autobiography. :-)

  • Patriot One

    Haa, the good old Potomac two step! The numbers have been made up for so long that know one knows what the real numbers are. Just think of it like Obama’s vetting process on the Syrians. Syria is in civil war so every refugee throws away any ID or document they have. Next the UN comes in and starts documenting their new identity. After 12 to 18 months the administration comes in and vets them using the UN fake identity. Different agencies review the fake identity and a new person is vetted. It has nothing to do with who the person really was, it’s who the vetting says he is and they point to the history. At every stop they are issued new documents which creates their paper trail. Since June 2009 the recovery has been well documented and the point to their fake history to prove it. What’s happening on main street isn’t reflected in anything reported. Last November was the worst year in 18 years for small business closures, we had 11 clients close their doors. So far this month we have 4 more closures. If the recovery was real we would be adding new business not deleting them…

  • Black

    The economy is so awesome that the FED has agonized for 3 years about raising rates a quarter of 1 point

    • AzDi

      And still they do not know what to do!! Considering they made the mess in the first place.

  • watching and waiting

    Gas 1.73 a gallon in Arkansas. Drastic drop in the past week or so. Not always a good sign for the economy.

  • ProphetOnTheWall

    The number of panhandlers is on the rise here in my neck of the woods. They tend to be wearing nicer clothing than the corner bums of years past, with more of the signs reading “Work please, no handouts” and “Just need a job”

  • Mondobeyondo

    There are people who will always try to convince you the economy is fine. What’s hard to believe is that there are people who still believe it.

    These are the same people who think pigs can fly. “Look in the night sky! There’s the constellation Pigasus!”

  • Mondobeyondo

    As a matter of fact, things are going so well that Honeywell is going to place 10,000 workers on unpaid leave during the holidays!

    “Happy days are here again!…”

    http://ktar.com/story/769938/phoenix-based-aircraft-company-to-grant-unpaid-leave-of-absence-to-10k-workers/

  • er

    Say what you want about Michael Moore, but if you haven’t already watched his documentary “Roger and Me” I suggest you watch it. Even after it was made in 1989, it is still more relevant now than ever before and highlights the death of the American manufacturing empire and globalisation, as well as highlight the income inequalities between the rich and the poor.

    By the way, I am not a liberal, or even a conservative, but a poltical athiest.

    • Bill G Wilminton NC

      Haha that is a good one………..

  • Steeve Girard

    Simple, the reason why it’s imploding, is change of technology. In the past we had to use lots of people to plan, schedule and move the goods around, from what we thought was far away. Now with the internet: local goods, suppliers are easier to be found, we remove those schedulers and planners. Heck we even remove the physical transfer, if the product is digital, by no longer putting it on physical support (CD, DVD, Video Games, Educational materials, Paper). Less people needed = less people paid, less people with money to spend, and therefore a deflationary collapse.

  • James

    Hedge funds are closing because they are hedge funds.
    They go into extremely risky investments such as junk bonds, and otc stocks.

  • James

    But just like in 2008, the Federal Reserve and our top politicians will continue to deny that a major economic downturn is happening for as long as they possibly can.

    Any when there is not a recession, politicans will say that there is not

  • James

    Energy stocks are down due to the falling price of oil.
    Refineries are doing great.
    Just look at valero energy

  • James

    No, stock markets will lag a couple of months with recession because companies will have to first lose revenue and profit and then have the bad earnings for everyone to see

  • James

    Stock buybacks increase stock prices.
    So what.
    Companies only do stock buybacks if they have access to capital
    If there is access to capital, obviously the economy is good

  • Gay Veteran

    no war profits without war

  • Priszilla

    if the salary is low people cant buy anything. when the oil price rebounds, they can buy even less.

  • Daystrom2012

    “Hillary Clinton recently gave the economy an A”

    Yes, yes, the same Hilary that says Islam is a religion of peace and that Muslims have nothing to do with terrorism

  • WK

    The interest rate question has become way too damn political, and that is driving what they reportedly will do in December as much as anything. Stats can be developed to support any preferred perspective, but I like to compare against how others are behaving not talking. It isn’t ZIRP in Europe, it is NIRP or negative. But yet the US is insulated enough from all of this to begin to jack rates back up? I don’t think so, this has become way too damn much of a credibility exercise between the Fed and Wall Street or the financial services industry. Now I do not who in their right common sense mind would delight out of jacking rates except savers, and how much are we talking about here anyway. Some may feel good in December what a rate increase announcement is finally approved by the Fed,, but then the media will move on as it always does.

    There are very cynical and challenging times. The globalization of the work force by the global trade agreements in the 1980s and 1990s and the automation phenomenon has permanently weakened the fabric of American society. The middle class has been decimated as has been noted in many blogs including this one. The rich may be riding high and not too concerned about their fellow countryman, but as in 1929 when the income inequality hits a tipping point of no return, all hell will break loose and has in isolated ways so far.

  • Ricardo Fontanot

    right.

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