You are about to see undeniable evidence that the U.S. economy has been slowing down for quite some time. And it is vital that we focus on the facts, because all over the Internet you are going to find lots and lots of people that have opinions about what is going on with the economy. And of course the mainstream media is always trying to spin things to make Barack Obama and Hillary Clinton look good, because those that work in the mainstream media are far more liberal than the American population as a whole. It is true that I also have my own opinions, but as an attorney I learned that opinions are not any good unless you have facts to back them up. So please allow me a few moments to share with you evidence that clearly demonstrates that we have already entered a major economic slowdown. The following are 15 facts about the imploding U.S. economy that the mainstream media doesn’t want you to see…
1. Industrial production has now declined for nine months in a row. We have never seen this happen outside of a recession in all of U.S. history.
2. U.S. commercial bankruptcies have risen on a year over year basis for seven months in a row and are now up 51 percent since September.
3. The delinquency rate on commercial and industrial loans has been rising since January 2015.
4. Total business sales in the United States have been steadily dropping since the middle of 2014. No, I did not say 2015. Total business sales have been in decline for nearly two years now, and we just found out that they dropped again…
Total business sales in the US did in April what they’ve been doing since July 2014: they dropped: -2.9% from a year ago, to $1.28 trillion (not adjusted for seasonal differences and price changes), the Censuses Bureau reported on Tuesday. That’s where sales had been in April 2013!
5. U.S. factory orders have been dropping for 18 months in a row.
6. The Cass Shipping Index has been falling on a year over year basis for 14 consecutive months.
7. U.S. coal production has dropped to the lowest level in 35 years.
8. Goldman Sachs has its own internal tracker of the U.S. economy, and it has fallen to the lowest level since the last recession.
9. JPMorgan’s “recession indicators” have risen to the highest level that we have seen since the last recession.
10. Federal tax receipts and state tax receipts usually both start to fall as we enter a new recession, and that is precisely what is taking place right now.
11. The Federal Reserve’s Labor Market Conditions Index has been falling for five months in a row.
12. The employment numbers that the government released for last month were the worst that we have seen in six years.
13. According to Challenger, Gray & Christmas, layoff announcements at major firms are running 24 percent higher this year than they were at this time last year.
14. Online job postings on the business networking site LinkedIn have been declining steadily since February after 73 months in a row of growth.
15. The number of temporary workers in the United States peaked and started falling precipitously before the recession of 2001 even started. The exact same thing happened just prior to the beginning of the 2008 recession. So would it surprise you to learn that the number of temporary workers in the United States peaked in December and has fallen dramatically since then?
Earlier today, we learned that two of our biggest corporations will be laying off even more workers. Bank of America, which is holding more of our money than any other bank in the country, has announced that it is going to be cutting about 8,000 more workers…
Bank of America is expected to reduce staffing in its consumer banking division by as many as 8,000 more jobs.
The nation’s largest retail bank by deposits has already reduced the staffing in its consumer division from more than 100,000 in 2009 to about 68,400 as of the end of the first quarter of 2016, said Thong Nguyen, Bank of America’s president of retail banking and co-head of consumer banking at the Morgan Stanley Financials Conference Tuesday.
And Wal-Mart has announced that it is going to be eliminating “back-office accounting jobs” at approximately 500 locations…
Walmart is going to cut some back-office accounting jobs at about 500 stores in a bid to become more efficient.
The job cuts will occur mostly at stores mostly in the West and involve accounting and invoicing workers, says spokesman Kory Lundberg. Instead, bookkeeping functions will be switched to Walmart’s home office in Bentonville, Ark. Cash at the stores will be counted by machine.
Day after day we are hearing about more layoffs like this. So why would this be happening if the U.S. economy truly was in “recovery mode”?
Even with how manipulated the GDP numbers are these days, Barack Obama is on course to be the only president in all of U.S. history to never have a single year when the economy grew by at least 3 percent. The truth is that our economy has been stuck in the mud ever since the end of the last recession, and now a major new downturn has clearly already begun.
And you want to know who else realizes this?
Foreign investors do.
Last month, foreign investors dumped U.S. debt at the fastest pace ever recorded…
Foreign investors sold a record amount of U.S. Treasury bonds and notes for the month of April, according to U.S. Treasury Department data on Wednesday, as investors priced in a few more rate increases by the Federal Reserve this year.
Foreigners sold $74.6 billion in U.S. Treasury debt in the month, after purchases of $23.6 billion in March. April’s outflow was the largest since the U.S. Treasury Department started recording Treasury debt transactions in January 1978.
There is no debate any longer – the next economic crisis is already here. This is so abundantly obvious at this point that even George Soros has been feverishly dumping stocks and buying gold.
We can argue about whether the U.S. economy started turning down in late 2015, early 2015 or late 2014, and it is good to have those debates.
But at the end of the day, what is far more important is what is ahead. Fortunately, our downturn has been fairly gradual so far, and let us hope that it stays that way for as long as possible.
In much of the rest of the world, things are already in full-blown panic mode. For instance, Venezuela was once the wealthiest nation in South America, but now people are literally hunting cats and dogs for food.
Absent a major “black swan event” of some sort, we won’t see that happening in the United States for at least a while yet, but without a doubt we are steamrolling toward a major economic depression.
Unfortunately for all of us, there isn’t anything that any of our politicians are going to be able to do to stop it.
*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*
I have never seen more buzz about a potential terror attack during the holiday season than I am seeing right now. Over the past couple of weeks, the mainstream media and the alternative media have both been full of headlines about the possibility of terrorism on Christmas Day or New Year’s Eve. And personally, I have had numerous people contact me with their concerns or regarding something that they have heard from others. In addition to threats from ISIS, there are many out there that are completely convinced that we could soon see a major false flag incident in the United States. So are any of these rumors true? Will we soon see a major terror incident in America? I want to make it very clear that I do not know. As an attorney, I have been trained to come to conclusions based on the evidence, and at this moment I do not have anything completely solid to report to you. But I do believe that it is noteworthy that there is so much buzz about a potential terror attack that is coming in from so many different directions.
For example, earlier today a mainstream news report indicated that authorities had discovered a “credible threat” against New York City. The phrase “credible threat” was later retracted, but it is a fact that NYPD Commissioner William Bratton did hold “an emergency meeting” on Tuesday to address the threat of terror…
Top NYPD brass including Commissioner William Bratton held an emergency meeting Tuesday to discuss the need for increased vigilance, sources said.
All New York City police officers received a bulletin Tuesday afternoon outlining the department’s tactical plan and warning officers to stay vigilant, according to sources. That internal memo mentioned social media being used as a tactic and that a possible attack could come without warning.
Expect to see increased police presence at iconic locations across multiple boroughs, including Times Square, St. Patrick’s Cathedral for Midnight Mass on Thursday, and Barclays Center in Brooklyn, marking the first time a threat has sparked a swell of police presence in a borough other than Manhattan.
In Germany, it is being reported that a former ISIS fighter is telling authorities that ISIS is planning “coordinated attacks across multiple European cities”…
ISIS are threatening coordinated attacks across multiple European cities, a former militant who escaped from the terror group has revealed.
The former Islamic State fighter – called Harry S – recently escaped from the group in Syria and is now being questioned by the authorities in Germany.
He says, along with other fighters, he was asked if he would “bring jihad to their homeland”.
Could he be telling the truth?
You never know. He might just be blowing a lot of hot air. But after what recently took place in Paris and San Bernardino, we all need to be more diligent.
And without a doubt, it is quite probable that the next attack could be bigger than anything else that we have seen so far. That same ex-ISIS fighter told the Germans that ISIS wants “something that happens everywhere at the same time”…
Worryingly, as reported by Der Spiegel, he told police: “They want something that happens everywhere at the same time.
“All you need is to take a big knife, and go down to the streets and slighter every infidel you encounter.”
And there is some evidence that radical Islamists have been planning just such an attack inside the United States. Just check out what authorities found when they recently raided the home of a 19-year-old jihadist in Pennsylvania…
Thursday, The U.S. Department of Justice announced the arrest of 19-year-old Jalil Ibn Ameer Aziz, who lived in a home with his parents in the 1700 block of Fulton Street in Harrisburg.
According to an affidavit, Aziz was preparing to conduct or assist in an attack in the U.S. An investigation also revealed that Aziz attempted to aid ISIS supporters in traveling to Syria for the purpose of becoming ISIS fighters.
On November 27, investigators raided Aziz’s home and found five loaded M4-style high-capacity magazines, a modified kitchen knife, a thumb drive, medication and a balaclava inside a backpack Aziz’s kept inside a closet.
We also know that the San Bernardino shooters had accumulated quite an arsenal in their home as well. Mike Adams of Natural News believes that this is yet more evidence that a “multi-city ISIS attack” was being planned…
I have reason to believe that a massive, multi-city ISIS attack will be unleashed across America in the near future.
Why do I believe this? Because the evidence points to the likelihood that the San Bernardino ISIS terrorists disobeyed orders and prematurely initiated their attack on a relatively small group. The twelve pipe bombs and thousands of rounds of ammunition found in their apartment point to the realization that they were preparing for something much larger.
If you’re a terrorist, you don’t build twelve pipe bombs and then leave them behind during your attack. You use them in large crowds, of course, to maximize the bloodshed and terror factor. The very existence of these pipe bombs — if indeed they weren’t planted by the feds — means that another, larger attack was in the planning stages and approaching activation.
Whether we see a major attack within the next couple of weeks or not, it is inevitable that the next one will happen at some point. I think that the holidays are a flashpoint in particular because they have a great deal of symbolic meaning and because there are such large public gatherings of people around Christmas and on New Year’s Eve.
And the federal government recognizes this as well. As Christmas draws closer, FEMA has been helping churches prepare for “active shooter incidents“, and the feds will be keeping a very close eye on New Year’s Eve celebrations in New York City and elsewhere.
Of course many Americans do not have much faith in the ability of the federal government to protect them. In fact, there are some that are simply going to avoid any large public gatherings of people until after the holidays are over.
So are those individuals being paranoid or prudent?
Please feel free to tell us what you think by posting a comment below…
When someone is right over and over and over, eventually people start paying attention. Personally, I have learned to tune out the “forecasts” of most “economic experts” out there. As an attorney, I was trained to be skeptical, and I have found that most forecasts about what the financial markets are going to do are not worth the paper they are printed on. However, once in a while something comes along that really gets my attention. Over the past few days, I have seen a number of references to the remarkable forecasts of Bo Polny of Gold 2020 Forecast. In recent months he has correctly predicted that U.S. stocks would begin to drop in July, that there would be a huge plunge in August and that that the month of September would be rather uneventful. Now he is saying that he expects “November to be a complete meltdown on the U.S. and world markets”. Just because he has been right in the past does not guarantee that he will be correct this time around, but lots of people (like me) are starting to pay attention.
So how does Polny come to his conclusions? Well, he uses something that most of us hated when we were in school – mathematics. The following comes from the Daily Sheeple…
Cyclical analyst Bo Polny of Gold 2020 Forecast utilizes advanced mathematical formulas and years of cyclical analysis to make forecasts about global stock markets. In late July he noted that U.S. stock markets had hit a top and that investors should prepare for a rapid down-move in the Dow Jones and other indexes. As we now know, that prediction has come to pass.
But while many on Wall Street panicked, Polny noted that the crash was not yet imminent and that the month of September would be relatively calm, with no major moves up or down forecast to occur. Once again, his analysis proved accurate.
I want to stress that I do not know if he will be right this time around. When trying to forecast the future of the markets, there are thousands of moving pieces, and many of them cannot be accounted for easily. But without a doubt the markets are perfectly primed for a major crash, so it would not surprise me in the least if he did turn out to be correct.
And as I mentioned above, Polny does have a solid track record of accuracy…
Bo’s model appears to have an impressive track record of accurate predictions, including the following:
- Price of gold reaching $1900 in 2011
- China’s stock market peak in April 2015
- Hong Kong market peak on April 29 2015
- U.S. stock market drop beginning in July 2015
- Sharp drop in the stop market in August 2015
- U.S. stock market uneventful in September 2015
If Polny is right again this time, next month will be the most significant month for global financial markets since the crash of 2008. Here is more from Z3News…
In an interview with Future Money Trends on October 17 2015, he made the following comments:
“Now we are expecting the next leg down on the U.S. and world markets on the dollar. What we are forecasting now is the lows of August are all going to break. They could break in the month of October yet, but we believe they will break no problem into November. We expect November to be a complete meltdown on the U.S. and world markets.”
He also posted the following statements on his website:
“If you thought the crash of August 2015 was bad; November 2015 is expected to usher in the START of the US Stock, Dollar, and Treasuries Market MELTDOWN!!!”
“The end of this year ushers in the start of an Economic Meltdown that is to last years! The U.S. Dollar, Treasuries, and Stock Market bomb is set to blow in November 2015!”
Polny is projecting that stocks could ultimately fall by as much as 70 percent by the time it is all said and done. You can watch a full interview where he discusses these things right here.
Meanwhile, early signs of the kind of trouble that Polny is warning about continue to pop up.
On Wednesday, the stock price of one of the largest pharmaceutical companies in the world absolutely crashed after a report came out claiming that it was in danger of suffering the same fate as Enron…
Hedge fund darling Valeant Pharmaceuticals is getting hammered after short-selling-firm Citron Research published a report comparing it to Enron.
The Canadian drug company’s stock was last down about 25% at around $110. It had fallen as low as $88.50.
The stock has been popular among hedge funds.
It ranked No. 10 on Goldman Sachs’ stocks that “matter most” to hedge funds list for the second quarter. According to Goldman, 32 funds had the stock as one of their top-10 stock holdings.
And this week we learned that construction machinery giant Caterpillar has now reported global sales declines for 34 consecutive months. The following comes from Zero Hedge…
Most cats bounce at least once when they die, but not this one: after CAT posted its first annual drop in retail sales in December of 2012, it has failed to see a rise in retail sales even once.
In fact, since then Caterpillar has seen 34 consecutive months of declining global sales, and 11 consecutive months of double digit declines!
Those that assume that everything is going to be “just fine” now that we have gotten past September are going to be dead wrong.
Whether it happens in November or not, the kind of chaotic financial collapse that Bo Polny is warning about will happen.
And of course factors that he is unable to account for such as war, terror attacks and major natural disasters could greatly accelerate things.
Once again, I don’t know if everything that Bo Polny is saying is going to turn out to be 100% accurate or not. I am just reporting what he is saying. But it is true that what he is forecasting fits very well with what I have been warning my readers about for months and months.
A day of reckoning is most definitely coming for global financial markets.
Will it happen in November?
Do you think that is an alarmist headline? Well, I am not the one saying this. Law enforcement authorities all over the country are telling citizens that they can no longer deal with all the crime and that people need to lock their doors and prepare to defend their families. Just recently, the city attorney of San Bernardino, California told citizens to “lock their doors and load their guns” because there is not enough money to pay for adequate police protection any longer. The murder rate in San Bernardino is up 50 percent this year, but the city is dealing with bankruptcy and has been forced to lay off 80 police officers. But San Bernardino is not the only city dealing with this kind of a thing. In Oakland, burglaries are up 43 percent so far this year, and to say that there is a “crime wave” going on in Oakland would be a massive understatement. If you can believe it, in Oakland “more than 11,000 homes, cars or businesses have been broken into so far this year – translating to about 33 burglaries a day.” Sadly, there simply are not enough police to keep up with it all. Due to budget cuts, it is being projected that by February the size of the police force in Oakland will be about 25 percent smaller than it was back in 2008. But what is happening in Detroit is perhaps even more frightening. Today there are about 1,000 fewer police officers in Detroit than there was a decade ago. But crime just continues to rise. So now even the police are telling people to “enter Detroit at your own risk“. With very little police protection, an increasing number of citizens are taking matters into their own hands. As I noted in a previous article, justifiable homicide in the city of Detroit increased by 79 percent in 2011, and the rate of self-defense killings in Detroit is approximately 2200 percent above the national average. But don’t laugh at what is happening in cities like San Bernardino, Oakland and Detroit. What is happening in those cities will be coming to your community soon enough.
From coast to coast, criminals are becoming increasingly bold and increasingly desperate. My sister lives near a large city in the middle part of the country, and a house across the street from the one her family just moved into was recently vandalized. The criminals took all of the exposed copper pipe and copper wire that could be accessed easily.
Other criminals have become very focused on gold because it has soared in value and it is easy to resell. For example, there have been more than 250 gold chain robberies in Stockton, California just since the month of April. According to the CBS News affiliate in Sacramento, criminals are just ripping these chains right off of the necks of unsuspecting citizens, and many of the victims that have tried to resist have ended up getting hurt. Normally the criminals sell off the jewelry within 24 hours, so solving these crimes is a real challenge…
Most victims of the robberies are female (65 percent), and 44 percent of victims are age 50 or older, the data showed. The most common time of day for the crimes were between 12 and 5 p.m., though this only accounts for about a third of the crime.
Parino said robbers took even police by surprise initially.
“When [criminals] do these crimes, they normally get rid of the items within 24 hours,” he said.
That’s why police are now checking up on secondhand stores and pawn shops on a weekly basis.
Many dismiss reports such as these as “anomalies”, but how many “anomalies” do we need before we finally admit that we have a widespread problem in our society?
Personally, there are many major U.S. cities that I would not want to be living right in the middle of right now.
Just take a look at Chicago. It has become one of the deadliest major cities on the entire globe. In recent years we have seen massive cuts to the police budget coupled with a dramatic increase in gang activity in Chicago.
The murder rate in Chicago is way up this year and the police force is massively outnumbered.
As I have written about previously, there are only about 200 police officers assigned to Chicago’s Gang Enforcement Unit. It is their job to handle the estimated 100,000 gang members living in the city.
How would you like to be outnumbered 100,000 to 200?
When things really hit the fan, Chicago is going to be a complete and utter nightmare.
And sometimes we get a peek into how people will behave when things break down. Just look at what happened during the aftermath of Hurricane Sandy.
If you can believe it, some criminals actually took advantage of the Thanksgiving holiday to loot homes in the Breezy Point neighborhood of Queens. That was the neighborhood where approximately 100 homes burned down. The suffering of the residents of that neighborhood made headlines all over the nation. But that has not stopped criminals from moving in and taking advantage of their vulnerability…
Cops told the victims burglaries are on the rise in Breezy Point.
There were 14 home break-ins from Nov. 12 to Nov. 18, compared with none a year before.
And in the 28 days before that, there were 48 burglaries. Only four break-ins were reported in that time period the year before.
In the days after Sandy, some of the hardest-hit areas were plagued with store looting, home burglaries, street muggings and other crimes.
There are some very sick people out there. These days you simply do not know who you can trust. The person you meet on the street may be perfectly fine or they may be a total sicko. It is so hard to tell. But without a doubt there are a lot of sickos out there. Just check out what authorities in Pennsylvania found recently…
Animal welfare workers say 11 puppies were found dead and skinned near an eastern Pennsylvania park.
Sadly, authorities in that area had come across another similar incident recently…
The discovery is second disturbing incident in the county in less than a week. About 20 miles away in Lynn Township police say a dog was discovered skinned and cooked.
Who would do such things?
What in the world is happening to this country?
Things are changing, and this is just the tip of the iceberg. As conditions shift, we are all going to have to carefully evaluate what is necessary to protect our families. Don’t ignore all of the warning signs. Sticking our heads in the sand and pretending that everything is going to be okay is not going to help anything.
So what do all of you think about all of this? Please feel free to post a comment with your opinion below…