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The Last 16 Times This Happened There Was A Recession…

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16 Sign - Public DomainSomething has just happened that has signaled a recession every single time that it has occurred since World War I.  16 times since 1919 there have been at least 8 month-over-month declines in industrial production during the preceding 12 month period, and in each of those 16 instances the U.S. economy has plunged into recession.  Now that it has happened again, will the U.S. economy beat the odds and avoid a major economic downturn?  I certainly wouldn’t count on it.  As I have written about repeatedly, there are a whole host of other numbers that are screaming that a new recession is here, and global financial markets are crumbling.  It would take a miracle of epic proportions to pull us out of this tailspin, and yet there are many people out there that are absolutely convinced that it will happen.

John Hussman is not one of them.  In his most recent weekly comment, he examined this stunning correlation between month-over-month declines in industrial production and recessions.  To me, what Hussman has presented is overwhelmingly conclusive

Last week, following a long period of poor internals and weakening order surplus, we observed fresh declines in industrial production and retail sales. Industrial production has now also declined on a year-over-year basis. The weakness we presently observe is strongly associated with recession. The chart below (h/t Jeff Wilson) plots the cumulative number of month-over-month declines in Industrial Production during the preceding 12-month period, in data since 1919. Recessions are shaded. The current total of 10 (of a possible 12) month-over-month declines in Industrial Production has never been observed except in the context of a U.S. recession. Historically, as Dick Van Patten would say, eight is enough.

Declines In Industrial Production And Recessions

After looking at that chart, is there anyone out there that still doubts that the U.S. economy is in significant trouble?

Many estimates of U.S. GDP growth for the fourth quarter of 2015 are already just a small fraction of one percent.  It would not be a surprise at all to see a negative number posted once it is all said and done.

And of course more bad news for the economy just keeps pouring in.  So far this week we have learned that the growth rate of federal withholding taxes has turned negative, Johnson & Johnson plans has announced that it is eliminating 3,000 jobs, and BP has announced that it is eliminating 4,000 jobs.

Of course it is not exactly a surprise that BP is cutting jobs.  At this point the entire energy industry is absolutely hemorrhaging workers.  As I wrote about yesterday, 130,000 good paying energy jobs have been lost in the United States since the beginning of last year.

But now we are seeing major firms outside the energy industry cutting payrolls.  Even financial giants such as Morgan Stanley are looking for ways to cut costs…

Morgan Stanley just announced fourth-quarter earnings, and it is providing detail to investors on a cost-saving plan called Project Streamline.

During a conference call, CEO James Gorman uttered a sentence that will most likely make the bank’s staff shudder.

“Too many employees based in high-cost centers are doing work that can sensibly be done in lower-cost centers,” he said.

The whole environment is changing.

When things start to get tough, big corporations start to get rid of people.  We saw this back in 2008, and it is starting to happen again right now.

And just like last time around, we are going to see millions of Americans lose their jobs during the hard years that are ahead of us.

But thankfully for the moment there is a brief lull in the action.  The financial turmoil that has gripped the planet was calmed on Tuesday when China announced that their economy grew at a rate of 6.8 percent during the fourth quarter of 2015.  This was right in line with expectations, and markets around the world responded positively to the news.

There is just one huge problem.  Everyone knows that GDP figures coming out of China are essentially meaningless.  If you believe that the Chinese economy actually grew at a 6.8 percent rate during the fourth quarter of 2015, then I have a bridge to sell you.  Virtually every other number coming out of China over the past several months tells us that the Chinese economy is shrinking, and so that 6.8 percent figure is extremely questionable at best.

Do you want to know the last time the communist Chinese admitted to having a recession?

It was in 1976.

Over the past four decades, economic growth figures have become a source of great national pride for China.  To admit that the economy is now imploding would bring great shame on the Chinese government and the nation as a whole, and so that must be avoided at all costs.

Yes, the numbers are fraudulent in the U.S. too.  According to John Williams of shadowstats.com, if the U.S. was actually using honest numbers the last recession never would have technically ended.

But in China they take this to ridiculous extremes.  The Chinese economy is fueled by exports, and Chinese exports have been down on a year over year basis for six months in a row.  And the primary reason why commodity prices have been absolutely collapsing is because of the economic contraction in China.

Of course if China had released a GDP number that was honest, global markets would have crashed hard.  So their lies are making everyone else feel a bit better for the moment, and every day of relative stability that we can enjoy from here on out is something to be thankful for.

As you read this article, markets all over Asia, Europe, South America and the Middle East are already in bear market territory.  More than 30 percent of the market has been wiped out in Brazil and Hong Kong, more than 40 percent of the market has been wiped out in China and Italy, and about 50 percent of the market has been wiped out in Saudi Arabia.

We are already experiencing a major global financial crisis.

The only question remaining is how bad it will eventually become.

Let us hope for more days like this one that are relatively calm.  But I wouldn’t count on things turning around significantly any time soon, because the economic fundamentals are telling us that big trouble is ahead.

  • MichaelfromTheEconomicCollapse

    All six of my new appearances on the Jim Bakker Show are now available to watch on their “video on demand” section for free. You can view them here…

    http://jimbakkershow.com/video/

    • RedSky

      I miss Tammy. Her eye makeup always ran when she cried and she would be doing a lot of crying these days. She would no doubt announce that she was buying her makeup at the Dollar Tree to save $$$. LOL.

      • merrileerj

        Yeah Lori is quite tame in comparison isn’t she LOL….and much younger.

    • merrileerj

      Thanks Michael. I”ve been watching you on the show at midnight…you are really on fire for the Lord & I really appreciate all your warnings.

    • Alcoholic Prepper

      Michael, I watched Jan. 19th and it is powerful. Thank you. We must prepare for the coming Tribulation.

  • Mondobeyondo

    Given everything that is happening, critics would be hard pressed to deny that the economy is in serious trouble. Frankly I can’t see how they can spin the data and statistics this time. The only explanation must be normalcy bias.

    The trouble we’re in is so obvious, even Stevie Wonder can see what’s coming. Those who choose to ignore the signs, do so at their own peril…

    • Mad Monkey

      Read an article yesterday saying everything is fine the next 5% stock move will be up – so far -3%. It is panic mode spin, I wonder how ‘Pedaling fiction’ Obama is going to crawl out of this one.

      The next 5% move by stocks will be up: Deutsche Bank: “Be prepared: The next 5% move by stocks will likely be to the upside, says Deutsche Bank’s David Bianco.”

      • Cesare

        There won’t be any rally. The free money has stopped flowing. This is the new normal. We’ll see 100-500 point drops every day, with some exceptions, until the stock markets more accurately reflect the state of the real economy. The danger is that this will cause a credit crunch and drive the economy down, starting a vicious feedback loop that crashes the system as we know it.

        After today’s huge plunge, what we’re seeing right now is a desperate attempt to keep stocks above the yearly low.

        • jaxon64

          I think you nailed it with this tidbit.. QUOTE_ until the stock markets more accurately reflect the state of the real economy”
          I’m not sure we will see anarchy, cities burning and rampant unrest and lawlessness. What is more likely is this slow decline until the Western nations are brought to the misery levels of the third world.
          Massive unemployment, declines in standard of living and less and less comfortable middle class homeowners with well paying jobs.
          The masses will still be fed, still have sports, reality TV and their electronic gadgets –this equates to a lot of grumbling but mostly sated people trudging along.
          If the masses start to get riled and look for a proverbial “Bastille Day”..then a convenient “war” or Hegelian Dialectic solution should quell the uprising and/or reduce the populace.

          • Cesare

            I agree, and I would take that a step further and say prepping is mostly a waste of time as far as the economy or social collapse are concerned. Mad Max never occurs in reality. Power abhors a vacuum too much. There’s no reason for a civil war in the United States, and there hasn’t been a credible threat of foreign invasion in well over a century.

            I agree that the economy is getting worse by the day, and soon we won’t enjoy the same standard of living that we used to. We already don’t, compared to the 1990s, or pre-2008 for that matter.

            We won’t see sustained anarchy like a lot of people imagine, but more political uprisings carried out by movements with a set of goals, like in the Civil Rights era. If/when governments turn to austerity to control deficits, welfare riots could become a thing. The pull of racism and socialism can only grow in an environment like that, and it’s already happening. Look at the Trump and Sanders campaigns. And as time goes on, the American people will elect more and more radicals to office.

    • krinks

      The first domino to fall that we’ve all been waiting for was the collapse of the dollar. This was set in motion recently with China’s troubles that resulted in their stopping the purchase of dollars. It is only a matter of time now.

  • kas

    A recession isn’t a COLLAPSE

    • RTL89

      What a foolish statement. Newsflash: this isn’t 1978, where you get a “recession” that lasts maybe 6 months to a year and then you see economic growth afterwards. We have been in a “depression” for the last 15-20 years, and it’s GLOBAL in scope. I don’t think you can relate this to anything we’ve seen in the past. If you haven’t woken up by now, even after all the brutally hard data, then I’m afraid you’re hopeless

      • ;-) (AKA) Alwaystomorrow

        Personally I think the people that think a collapse is hiding behind every statistic are the people that are hopeless.

        If the last 15-20 years are your definition of a “depression” I welcome another 15 -20 years like that because that time frame has been quite productive for me.

        • RTL89

          Nope, it’s not “my” definition. Our countries are coming outright and saying it. Canada, Brazil, Australia, Greece, Puerto Rico, China…. and technically the U.S, although consumer confidence would tell you otherwise. These are people that will believe just about any piece of good news, because they have trolls lie you telling them that everything’s ok when CLEARLY the entire planet is in a depression.

          • SP2300ROFL

            Those compound lies are too absurd to even debunk. Begin by learning the business cycle seems most appropriate.

          • Mike

            That would be due to the fact that all you have is ridicule at your disposal.

          • James

            And all you have to do is read an economics textbook and let me LMFAO

          • Rorschach

            “And all you have to do is read an economics textbook and let me LMFAO”

            You just gave yourself away SP2300BS.

          • James

            Ad hominem, proving that you can’t refute my argument

          • Rorschach

            Nice try SP2300. Don’t worry troll you qualify for a darwin award.

          • James

            Still not refuting my points.
            Goldline troll

          • Bill G Wilminton NC

            SP2300ROFL is BS BS BS BS

          • Bill G Wilminton NC

            Wellsaid tell SP2300ROFL he is full of BS lol

      • SP2300ROFL

        Newsflash: you’re clueless.

        • RTL89

          Don’t you have anything better to do than to create 10 different usernames in an effort to troll this blog? It really makes the case of the “collapse believers” all that more reputable

          • SP2300ROFL

            Your delusions of me having multiple names validates your ridiculous economic assumptions? ROFLMAO

          • Bill G Wilminton NC

            Just tell im to get lost SP2300ROFL is BS BS BS BS

        • Bill G Wilminton NC

          SP2300ROFL You and James are perfect for each other

      • James

        NEWSFLASHthe dot com was a recession.
        Tech recovered

        • Bill G Wilminton NC

          JAMES talk to SP2300ROFL you can help him he needs more BS

        • Rorschach

          “NEWSFLASHthe dot com was a recession.Tech recovered”

          You probably weren’t even around by then considering how young they are hiring unpaid trolls.

  • James Dohnalek

    Demand for goods and services is declining all over the world.
    Look at the spend til you drop AMERICAN, retail industry had a bad year in 2015 and during the Chrismas SEASON
    WHAT IS COMING NEXT IS MASSIVE, MASSIVE, MASSIVE, JOB LOSSES WHICH WILL BE GREATER THAN 2007 and 2008.
    IT IS HAPPENING NOW. NOW. NOW. NOW. NOW.

    • SP2300ROFL

      ROFLMAO

      • SP2300ROFLDOA

        YOUR RHETORIC HAS EXPIRED.
        WE’RE COMING FOR YOU.

        BEST REGARDS,

        T.4.H.O.T.A

        • SP2300ROFL

          Need directions Rambo?

          • Bill G Wilminton NC

            JUST MORE BS from SP2300ROFL

          • Bill G Wilminton NC

            Just pathetic SP2300ROFL BS MAN

          • SP2300ROFL

            😉

          • Bill G Wilminton NC

            SP2300ROFL we will just smell for the BS……..

          • SunnyFlaSnotress

            You smell.. it is true.

          • outdoorsman46

            Dont need directions. Natural selection will take care of you.

          • SunnyFlaSnotress

            Natural selection takes care of all of us eventually. Nobody is immortal.

        • Bill G Wilminton NC

          What wud they pick up SP2300ROFL BS BS BS lol

          • SP2300ROFL

            Who’s they ? :)

          • Rorschach

            You and your fellow troll orgy.

          • SunnyFlaSnotress

            What pick up?

        • SunnyFlaSnotress

          You admire SP2 so much you are starting to emulate him.

      • Mike Smithy

        Just exactly what is so funny? It would appear that you are the village idiot.

        • SunnyFlaSnotress

          Mike, you are trashing up the board with nonsense.

          • Rorschach

            Looks like your nonsense is filling up the board here as well Sunny. Nobody cares what you have to say. It’s nonsense anyway as you say.

          • SunnyFlaSnotress

            Rorschach, I know you care.

          • Rorschach

            I agree I care so much that I took time just to reply to you.

          • SunnyFlaSnotress

            See, you are having a therapeutic breakthrough.

      • rocknrolla

        come on over to zero hedge

        • Mike Smithy

          Zero Hedge has higher standards.

      • Sweet T

        You seem to do that a lot. According to WebMD you might need a rabies shot.

        • Mystic Light

          LOL! Or an entire series of rabies shots…

    • Bill G Wilminton NC

      You are correct tell SP2300ROFL he is full of BS BS BS lol

      • SunnyFlaSnotress

        SP2 is the best poster on this site.

        • Rorschach

          It must be time for your troll orgy again. Jump in.

          • SunnyFlaSnotress

            Ohh.. Yes.. YES! .. Yeee eesss!

          • Gay Veteran

            ugh, now I can’t get that image out of my mind!

          • SunnyFlaSnotress

            You put your right foot in, you take your right foot, you put your right foot in and you shake it all about..

          • afchief

            That’s because you have a reprobate mind.

          • Gay Veteran

            also can’t get out of my mind your male bride in the photo

        • merrileerj

          Oh you’re such a marvelous genius zinger snot, “SP2 is the best poster on this site.” Wow, how do you come up with this stuff.

          • AzDi

            AGAIN…. why do you people even respond to those idiots.

          • SunnyFlaSnotress

            The same way Pill comes up with “You are correct tell SP2300ROFL he is full of …lol”

        • Bill G Wilminton NC

          SP2300ROFL is the POSTER CHILD of BS BS BS

          • afchief

            Dow down 500

          • Bill G Wilminton NC

            ……….slow motion financial avalanche !

          • awb22

            it has been stated previously, the collapse, when it happens, will start out in slow motion, and then all at once.

          • Bill G Wilminton NC

            wellsaid……….yes sir

          • awb22

            Bill, I’m a native Wilmingtonian. Still visit family there. My place at the beach is my Mom’s house, and she loves to see her grand kids, so it works out just fine.

            I started following you in response to being trolled by Sodomite Joe. It’s nice to meet you!

  • James Dohnalek

    If one looks at any chart of a stock market in any part of the world, the curve is heading down EXPONENTIALLY, I REPEAT, EXPONENTIALLY.
    Look for yourself. Super asset inflation due to quantative easing and zero interest rates that forced a majority into the stock market, because there was no place to go. THANK JANET YELLEN AND HER LEMMING (rat) BOARD MEMBERS OF THE FEDERAL RESERVE FOR THIS COLLAPSE OF THE STOCK MARKET. She is helping the collapse by raising interest rates. Thank you, almighty JANET, the most high.

    • SP2300ROFL

      Meanwhile in the real world the chairwoman warned rookie speculators and unsophisticated investors of the risks nearly two thousand djia points and brilliantly began the path back to tighter monetary policy while leaving plenty of flexibility in the applications of multiple policy measures.

      • Bill G Wilminton NC

        more BS from SP2300ROFL lol

      • Mystic Light

        They must pay you well to post such inane tripe! You must drink while you post to block out reality…

        • Lennie Pike

          They do drink at work – just like their fellow NWO co-worker killer drone pilots.

      • Rorschach

        That’s good comedy from a troll considering it’s pre-scripted and selected by Obama’s speech writers.

    • James

      Meanwhile Goldman Sachs is getting rich buy buying beaten down stocks and waiting while you sell everything to buy freeze-dry food

      • SP2300ROFL

        Roflmaooooo!!!!

        • James

          Umm okay?

      • Bill G Wilminton NC

        are you and SP2300ROFL related

        • SP2300ROFL

          You’d think a clown that quotes the Adam and eve fairy tale would know were all cousins according to that theory roflmao

          • Bill G Wilminton NC

            SP2300ROFL some are just BS cousins and some are just KISSIN cousins…….you are the former just BS BS BS and then more BS

        • Rorschach

          Probably his inbred cousin.

          • Bill G Wilminton NC

            ha ha lol

        • James

          No

          • Rorschach

            Yes you are but that’s okay troll.

          • James

            Ad hominem. You should really attack content rather than calling everyone who refutes you a troll.

            I attack content, not the people making them

          • James

            No evidence.
            Nice try Goldline troll

      • Mike Smithy

        You really need to get out of your mom’s basement. RBS just told their clients to sell everything. Oh by the way, how is that whole BTFD thing working out for you these days? Enjoy your trip to the poor house chump. It would appear that the DOW is poised to drop another 300 points tomorrow.

        • James

          RBS did tell their clients to sell everything but they did nothing but 1 year projections. I am not invested for the short term like RBS who only cares about their upcomming 10-Q

          BTFD went great in the September 2015 crash and BTFD went great on XLF when the fed raised rates

          I am buying heavily right now. Waiting for it to go back up. Stocks do not follow the rules of physics. Stocks rebound heavily after every recession

      • Rorschach

        “and waiting while you sell everything to buy freeze-dry food”

        Good luck with camp fema James you will need it.

        • James

          Stock market crash=natural disaster where FEMA needs to help out?

          HAHAHA

          FEMA only works in natural disasters

    • Bill G Wilminton NC

      well said……………..

  • Duh

    I gotta feeling that if current global economic is a books, it must be wroted by George R. R. Martin D:

  • Marty Mann

    So we have gone from an economic collapse blog to an economic recession blog? Well thats an improvement.

    • SP2300ROFL

      Enjoy the economic comedy blog. It provides the greatest capital markets related comedy ever -complete with a clown car full of ecocollapsychos – which should arrive momentarily. Enjoy the show. :)

      • Mike

        Go somewhere else.

        • James

          Is what he said wrong?

        • Bill G Wilminton NC

          SP2300ROFL ha ha he’s got no where else to go

      • James

        Yes it is hilarious.
        Been reading for a long time

        It is always if I predict an economic collapse every day of every year, NBER will eventually prove me right

        • Rorschach

          “Yes it is hilarious.Been reading for a long time”

          You can read? That’s a shock but it seems you can’t even read at a proper level and lack the skills to do so.

      • Bill G Wilminton NC

        Yup and you SP2300ROFL bring the BS BS to the blog

      • Rorschach

        “Enjoy the economic comedy blog. It provides the greatest capital markets related comedy ever -complete with a clown car full of ecocollapsychos – which should arrive momentarily. Enjoy the show. :)”

        Starring fwalker aka SP2300ROFL for the lead role and main star. I agree you are at the center of it all.

        Now you can come and claim your darwin award.

  • K

    As far as I am concerned, Michael has presented, a very convincing case.But if you can not believe the numbers. What is the Government preparing for? The food they have stockpiled.. The ammo they have stockpiled. The full military level equipment, they have given to the police? Does this sound like preparations for a minor recession? And if you think it has nothing to do with the economy. Then what kind of major emergency, are they preparing for?

    • James

      You can always find a crackpot data analyst that will spew any crap you want

      • Bill G Wilminton NC

        also a crackpot poster………..

        • K

          Thanks Bill. Notice troll tactics. Denigrate, or distrac. He will probably be back, when his masters, give him an approved answer.

          • SunnyFlaSnotress

            I see it as divide and conquer.

        • Gay Veteran

          LOL

        • James

          It is true, and you are resorting to ad hominem

    • Bill G Wilminton NC

      Well said…………..thanks

    • afchief

      Martial law and Obamadinajad’s third term.

      • Gay Veteran

        jeez, why would TPTB stop using the 2 party system since it works so well for them?!?!?!?

  • SP2300ROFL

    Pretty bold article calling the u.s. government data fraudulent for your self serving purposes. Interesting to see when called to task to support that final conclusion of law. :)

    • Bill G Wilminton NC

      SP2300ROFL ha ha lol is such BS

    • Steeve Girard

      Again here too, he is secretly asking a question.

  • Rufus T Firefly

    So it’s happened 16 times in the last 95 years…roughly once every sixth year…and the world didn’t end on any occasion?

    • SP2300ROFL

      17th times a charm :)

      • Bill G Wilminton NC

        SP2300ROFL your the BS charm

  • RTL89

    I can’t help but notice a pattern, both with this blog and with any other alternative news source blog/website/youtube channel. The more turmoil and volatility we encounter in the economy, the more relentless the trolls are. Taking a quick look at this particular comment section will prove that point. This crisis really IS accelerating, and so are the trolls

    • SP2300ROFL

      Ridiculous assumptions is all you have which makes your delusions of ‘alternative “news”‘ and capital markets notions so funny. Thanks again for the great comedy ROFL

      • Bill G Wilminton NC

        SP2300ROFL u r the comedy of BS

      • Steeve Girard

        Ok… secret question there…. let’s see if they can guess it.

    • :-) (AKA) Alwaystomorrow

      Why do you label someone with a different opinion than yours as a troll?

      If I were to use your definition it would make you the troll.

      • RTL89

        Because this is no longer a topic that is debatable; that ship has long sailed. The global economy is about to implode. End of story. It’s time to focus on that and to prepare for it. A troll, on the other hand, desperately does everything they can to detract from the people who are aware of this. Sound familiar? It should.

        • Rorschach

          Careful RTL89 you are responding to a troll himself who’s only accomplishment in life is posting a countdown and for which he was wrong about.

          • SunnyFlaSnotress

            AlwaysTomorrow proved correct. We all know his countdown was a lighthearted spoof even if the Michaelites took it as a full frontal assault.

          • RTL89

            No, his countdown was a deliberate mockery towards everybody who believes in this collapse. It wasn’t done because he genuinely felt the same way as the rest of us. He did it because he’s Trolly Mc-Trollerson, who thinks it’s all fun and games. We haven’t heard a peep out of him or his ‘countdown” since the first trading day of January 4th, have we?

          • merrileerj

            I think the trolls are given too much credit, but maybe I”m wrong. People keep saying they’re employed to make it look like there is no recession, etc, but I think they just have no life & live in mom & pop’s basement, bored bored bored. It wouldn’t matter the topic, they’d just argue the opposite.

    • James

      Anyone who disagrees with crackpot authors is a troll.
      Are you not being paid off by Goldline or Glenn Beck?

      • SP2300ROFL

        Welfare :)

        • Bill G Wilminton NC

          SP2300ROFL mental help

      • Bill G Wilminton NC

        SP2300ROFL and you go well together just BS and nonsense

        • SunnyFlaSnotress

          • Bill G Wilminton NC

    • Mystic Light

      The trolls and shills are paid to shout the Truth down. Can’t allow the masses to know the Truth, because if they did, a full-blown civil war to take down the Federal Reserve, George Soros, the Banking Cartel and the Shadow Government would commence. It is why the push to gather all of our guns is on the move. Disarm the populace, Checkmate!
      Don’t pay attention to the sycophants, Karma tends to work when they least expect it. God Bless…

      • Steeve Girard

        True is some manner, but trolls are to be divided in 2 categories…. Destructives and Hidden agenda. The Destructive ones we should not even speak with them… but those with a Hidden Agenda, like Sp2xxxx, are actually trying to extract information without being noticed. Because they would most likely be in trouble if they were. And if you guessed right their intentions and secret questions, they tend to close the conversation very fast!

        Last time I guessed sp2xxxxx’s hidden question, he just closed the conversation with a very short direct sentence.

    • Rorschach

      I’ve pointed that out before but it’s desperation and an attempt to portray the “everything is good” while the proverbial Titanic is sinking.

  • Bill

    A key quote from the link I just posted (that is waiting to be approved) is:

    “According to Ben Fulford, the reason why there are no ships delivering goods is because shipping companies are demanding to be paid by the Chinese Yuan versus payment by the US Dollar.”

    The dollar is dead and that is why the BDI has sunk. Very dangerous situation.

  • James

    The last time there was a recession people used electricity and drank water!

    Now people are drinking water and using electricity! Prep yourself!!!

    • Rhialto the Marvellous

      And there were also people in denial about it! Prep now!

      • James

        And then NBER said there was a recesion

        • Rorschach

          … That’s all you can say James. You didn’t disappoint.

    • Bill G Wilminton NC

      U are definitely related to SP2300ROFL

      • James

        Ad hominem. Really need to stop

    • Rorschach

      More copy and paste again.

  • James

    Do you want to know the last time the communist Chinese admitted to having a recession?

    China is NOT NOT NOT NOT NOT NOT NOT NOT Communist.

    • Bill G Wilminton NC

      OH my SP2300ROFL is BS and U are a wacky bird.

      • James

        Ad hominem

    • Rorschach

      So what is the Chinese Communist Party then? You really are king of the under-performing trolls.

      • James

        Do you even know what communism is? China has a GINI of 37.

        Does the US Democratic Party actually advocate for a direct democracy? No

        • Rorschach

          You must be working over-time as an unpaid troll. Try harder.

          • James

            Still unable to refute my points

    • Mike Smithy

      AND ROSIE O’DONNEL IS NOT FAT, FAT, FAT, FAT PIG. SHE IS JUST BIG BONED.

  • James

    Johnson & Johnson plans has announced that it is eliminating3,000 jobs, and BP has announced that it is eliminating 4,000 jobs.

    Meanwhile biotech companies are still hiring
    See sequenom’s website for career listings and see their stock graph.
    If even Sequenom is hiring that much; it says ALOT

    Umm okay.
    Companies love laying off workers. Companies usally announce layoffs at the start of the year.

    Happy New Year

    • Kris

      I checked and Sequenom has a whopping total of 12 job openings most of which requiring a masters degree or above!

      • James

        Get a masters degree. Seriously, it’s not that hard. If your not smart enough to get a Masters, maybe that explains why you don’t have a job.

        Also I picked Sequenom for a reason. It’s a company on the verge of a bankruptcy, and they still have job openings. That says ALOT

    • Rorschach

      Yep you are delusional. No wonder nobody takes you seriously.

    • Gay Veteran

      yeah, let’s depend of biotech to hire 10s of MILLIONS.
      moron troll

      • James

        Not only biotech but other high growth fields
        Technology, Finance, Security (Technology), Health Care, etc

  • James

    When things start to get tough, big corporations start to get rid of people. We saw this back in 2008, and it is starting to happen again right now.

    Companies lay off all the time.
    P&G layed off in 2014/15 even though there was nothing too big in 2014/2015

    • Mystic Light

      And how are layoffs a good thing?

      • Bill G Wilminton NC

        only when the poster is smoking the sports pages

        • Rorschach

          He’s probably one of the people doing the layoffs. Don’t worry though he will be laid off as well when they realize he is an extra cost or expense. After all he is expendable.

      • James

        Layoffs are not a good thing but they are common, even in good economies.

        If all he could list were 2 layoffs in January, it is not really newsworthy.
        Most companies as a new years present announce layoffs in January

        • Rorschach

          SP2300 = James = Jazz. Sounds about right.

          • James

            Try again GOLDLINE troll

  • James

    Of course it is not exactly a surprise that BP is cutting jobs. At this point the entire energy industry is absolutely hemorrhaging workers. As I wrote about yesterday, 130,000 good paying energy jobs have been lost in the United States since the beginning of last year.

    Um okay??
    Solar is hiring.

    Also, oil prices are determined in international markets with mutiple countries, geopolitics, internal dealings, corruption, enviormental law, and speculation.

    • Bill G Wilminton NC

      SP2300ROFL and you must smoke some good stuff

      • Rorschach

        Their probably making sure to have extra Obama “Fluoride” adding in their drinking water.

      • James

        yes, I had a relenza inhalation when I had a bad case of influenza 4 months ago

  • Rhialto the Marvellous

    Oil is now below $28. DJIA will be lower again tomorrow.

    • James

      Oil is dropping. It’s been dropping from 1/2015 to 1/2016 and nothing huge has happened.

      DJIA lower by how much? A 0.1 percent drop is not an excuse to lets go panic and throw bricks at government offices

      • Rhialto the Marvellous

        You’re the one talking about panicking and throwing bricks, not me.

        • James

          It was just repeating what the site says daily

          • Rhialto the Marvellous

            This site has never said to panic and throw bricks. You said it.

          • Bill G Wilminton NC

            NO hope for this fella and SP2300ROFL

          • James

            Ad hominem.

            Is it not what the site says daily?

          • Bill G Wilminton NC

            Be creatively factual and add info to the blog…………..

          • James

            Not the admin, also just look through the headlines that the site produces.
            Sometimes, I condescendingly read them and feel good about my wealth

          • Rorschach

            “It was just repeating what the site says daily”

            Nope you didn’t repeat it because the site never said this. You are just making stuff up. Now go back in your troll cage you are failing as a troll.

          • James

            The site says a economic collapse is always comming

      • Bill G Wilminton NC

        OH MY you must be SP2300ROFL’s brother

        • James

          OH MY. You have to resort to Ad Hominem because your other arguments have no substance

      • Viper

        As of right now the DOW futures are down 248 points.

        • James

          Yes, the DOW is down 1.5%

  • James

    Many estimates of U.S. GDP growth for the fourth quarter of 2015 are already just a small fraction of one percent. It would not be a surprise at all to see a negative number posted once it is all said and done.

    Okay…

    • Rorschach

      The actual estimate is 0.1% but you didn’t bother to look that up or even read up on it so why should anyone be bothered to lecture you.

      • James

        Atlanta Fed said 0.6% and I trust professional economics with degrees than Goldline paid trolls.

        If the dollar was going to crash, why would GoldLine be selling their gold for soon to be worthless dollars?

  • Rhialto the Marvellous

    No point in waiting around for a recession. The last one never ended. We’ve been in a depression for some time, but the low-information crowd believes every stat the socialist administration cooks up and disseminates to the sheeple via their mouthpiece media.

  • James

    So it’s happened 16 times in the last 95 years…roughly once every sixth year…and the world didn’t end on any occasion?

    • Rhialto the Marvellous

      Of those 16, how many times was there $18T debt, a real 23% unemployment rate, 46,000,000 on Food Stamps, declining household income, a Federal Reserve monetizing the national debt, etc, etc, etc?
      This economy is like a used car with a fresh coat of paint to hide the shot engine.

    • Rorschach

      “and the world didn’t end on any occasion?”

      And the darwin award nomination goes to ….. James.

      • James

        The world did not end.
        If you bought the dip in stock markets every time, you would be extremely rich

    • Gay Veteran

      yeah, recessions are soooooooooooo much fun

      • awb22

        that which is unsustainable cannot continue. we’d have been better off letting the TBTF fail, at least we’d be $8T less in debt. No one in the USCON wants the party to end, but end it must.

  • James

    The last time there was a recession people used electricity and drank water!

    Now people are drinking water and using electricity! Prep yourself!!!

    • Bill G Wilminton NC

      nothing but BS you need to talk with SP2300ROFL quickly lol

      • Fellie Chn

        Where did “IT” Go ?? lol

    • Rorschach

      Do you even check with your script writers before you post because even they wouldn’t have approved such a stupid comment “James” the troll.

      • James

        It is not true?

    • ONE WHO KNOWS

      I was watching TV last night and saw a “prepping” commercial. Then it dawned on me I’ve been seeing more and more advertisements and commercials about being prepared. I get the feeling that the powers to be have known for a while something was heading our way.

  • SecretSeven

    The majority will not understand this article or don’t care,until they figure out the food is not coming and the water stop dripping.By then millions will die because of their incompetence.I’ll just spend my youth storing food, learning useful trades, and learning to defend myself.Forget the sheep brigade.I’m sick of it.The collapse is overdued.

    • Fellie Chn

      We need the “RESET Button”

      • Steeve Girard

        Sorry that button is out of order, due to maintenance.

        • Rorschach

          The button has been out of order for a long-time.

  • Rhialto the Marvellous

    Number of people who are either a government employee, unemployed or not in labor force in America –
    133,585,713

    Number of private sector jobs in America –
    118,268,520

    • Bill G Wilminton NC

      right on the money………………

    • afchief

      Source?

  • True Grit

    If we still had the 30 million good paying manufacturing jobs we had in America prior to the Chinese attack on every industry in the US maybe we wouldn’t have to wish for $5gal Gasoline to support 130,000 good paying oil workers jobs and depend on Chinese lies for the next stock market bump.

    • Bill G Wilminton NC

      We were the manufacturing powerhouse of the world and a city like Detroit was the manufacturing envy of the world. Go visit Detroit it is now below a third world city …it has been called a hellhole. Street lights off in half the city running water not available for blocks and blocks. Open corner drug markets , whole areas of the city where the POLICE will not even go. Half the houses empty and falling down with squatters living in them.
      Our traitorous leaders dem and repub gave us this scenario and this is coming to more cities and then more cities our country is being cored out.
      Soon people will happily give up their rights just for the promise of a meal everyday.
      And then we will have NWO with a totalitarian gov of tyranny. So you could say we went from tyranny to tyranny in a little over 200 years.
      Yeshua ( Jesus) please come soon.

      Shalom

      • Rainy In Oregon

        Well said, Bill, There will always be scoffers, but this is tangible proof of what is to come.

        • Fellie Chn

          I agree . . Made in China was created because of Cheap labor and lot of Huukers. Now that they have the Middle Class, labor has been very expensive, even compared to Japan or Germany ! I am looking at another Detroit, MI.

          • Gay Veteran

            also lack of environmental laws

      • Gay Veteran

        wow, you actually got it right

        Cheers

        • Bill G Wilminton NC

          I have many things right……..but the most important THINGS are eternal… what we are in now is temporal !

        • awb22

          reprobate want a cracker?

          • Gay Veteran

            Polly, that doesn’t even make sense, as usual

          • awb22

            Reprobate

    • Gay Veteran

      but, but, but then how would the CEOs and Wall Street banksters make obscene amounts of $???

  • Rhialto the Marvellous

    At the speed oil’s dropping tonight, it might shoot right through the $27 handle and be in the $26 range by the morning.

    DJIA futures minus 238 at this point.

    • Rhialto the Marvellous

      Good thing we had that big 27 point rally today.

      AAAAHAHAHAHAHAHAHAHAHA!!!!!

  • Bill

    Michael I don’t understand how you let these trolls use up space while you sit on a very pertinent link I posted. The serious contributors to this site deserve an explanation.

    • Jacynthia Read

      Michale has no control. This site is moderated by Disqus. I too wish the trolls would be removed. They do take away from the discussion of the topic.

      • HeyAHuman

        No, he still sets his own controls and moderates the site himself. Every different public outlet has its own terms, and different trigger words that flag posts for review. Disqus has their own terms that Michael must abide by, but they don’t moderate others’ sites.

        • Kim

          I wouldnt think so. I helped moderate a YUKU site for years. There were a few mods. We made all the delete, editing and banning decisions unless something was missed and reported directly to YUKU. In that case YUKU would delete and ban. It only happened once in five years.

          • HeyAHuman

            Well, I know that this blog doesn’t have nearly enough activity for anyone to be hired to solely moderate it, for one. Also, I’ve been to plenty of discussion boards that use Disqus, and in plenty of those sites, you’re allowed to cuss til the cows come home (yet, not here). Then, in some of these sites, your post will be deleted and you may get banned for making racist statements (again, not here). I used the word “assass in” (one word) here once, and it flagged my post for review before deleting it. Trust me, that’s not Disqus.

        • Bill

          I’ve hesitated to say this but many times I fear that Michael is protecting his argument.

      • SunnyFlaSnotress

        That’s not quite as true as I used to think after things I’ve observed.

      • Bill

        Other sites don’t moderate links. This is Michael’s choice and he does it selectively slow or fast as he wants.

    • lmarkievich

      It saddens me that he would be against free speech.

    • Kim

      I completely agree.

      • SunnyFlaSnotress

        TrannyKim.. how is Asia today?

        • Kim

          You mean tonight. Stifling hot.

          • Mike Smithy

            Are you going to Phuket?

          • Kim

            No. Phi Phi.

  • Rhialto the Marvellous

    I bought gas today for $1.47/gal.
    Nice feeling. I hope the oil companies saved all the money I paid them while gas was $3 and $4/gal.

    • df NJ

      Prior to 9/11 Al Gore gave the airlines a commission report on how they should lock their cockpit doors and have security measures like Et Al. But the airline CEOs balked at it and said get your government out of our faces. They said they were NOT going to spend 300 million dollars to put locks on cabin doors. Prior to 9/11, at Newark airport a plane would land every 45 seconds. The other day I picked up a shipment from the cargo building. I counted one landing every 7 minutes. I’m not smart enough to do the math but I think the difference between $300 million and several billions of dollars of revenue over 30 years is probably significant.

      Same thing with the oil industry. All the $3 and $4 per gasoline pricing in the “risk” factors has destroyed the world economy after 15 years.

  • Susan J. Barretta

    Baltic Dry Index is hitting new lows. Oil prices are weak.

  • VegasBob

    The mass hallucination that somehow the US economy is ‘healthy’ is rapidly dissipating.

    I think the biggest hit to the bubble was Obama’s statement last week that “Anyone claiming that America’s economy is in decline is peddling fiction.”

    Obama’s idiotic bloviating is all the proof anyone needs to finally see that America’s Potemkin economy is built on a bedrock of smoke and mirrors.

    Obama’s foolish statement will go down in history as his biggest lie, even bigger than the nonsense about “If you like your insurance plan, you can keep your insurance plan.”

    • Mad Monkey

      As posted previously Obama must be sweating bricks. Even if the US economy was good the global economy would take it down it it too intertwined, But US economy has no more good news except debt increases – which is actually bad news.

      Stocks going to take a big hit today Wednesday. Asia mostly down -3.5%, oil down another dollar and US futures in red big time. It is a small day lull then another smash. Bad news coming in so hard and so fast.

      • SunnyFlaSnotress

        Obama Wants $4 Billion to Subsidize Silicon Valley Driverless Cars.. he can’t be sweating that much

        • Mystic Light

          Of course the Devil doesn’t sweat…

    • df NJ

      The Republican congress has much more power than Obama. He just signs or vetos legislation. He’s not a supreme totalitarian dictator. He’s really just a puppet of the big banks and the council of foreign relations.

      • Scott Comin

        AMEN

    • HomoRationalensis

      Look at my picture, that’s Obama

    • DB200

      Did Obama really say that “Anyone claiming that America’s economy is in decline is peddling
      fiction.”?

      He has an academic degree, hasn’t he? In academics you learn to stick to the facts. And the facts speak loud and clear.

      • Rorschach

        Remember he is a “community planner” and nothing more.

      • VegasBob

        Yes. It was a line the the State of the Union address.

      • Scott Comin

        THE NEOCONS PUT IT THERE

    • CharlesH

      VegasBob – you may be right. I always thought his lie about our insurance plans was the biggest lie someone could tell, but damn, the man came through and even beat himself!

  • J B

    It hasn’t happened because the US Economy is so Excellent Dude.

  • nevergiveup

    The ‘experts’ slashed the original forecasted economic growth in South Africa. by half. It was already a ridiculously low growth of something like 1.4%. The price for maize / corn has gone up almost 3 times and that is going to impact the cost of so many essential products. The SA government is messing with pension funds and there is news of increased interest and tax rates. And there is increasing political instability. Our currency has been decimated by the dollar – we went from about US$1=ZAR12 to US$1=ZAR17. Some may say “Its only South Africa – won’t happen here”. These affects are occurring in MANY emerging markets. The ripples that started last year are becoming tidal waves. And there are still ‘people saying “Everything is going to be ok”. “Crisis, what crisis?”.

  • alan

    I would consider being in a recession good news.
    We peddled fiction to some folks!

  • chilller

    Please don’t feed SP2300ROFL….he’s the idiot FLA-SNOT-for-brains.
    If no one replies to him he might just go back to his padded cell.

    • SunnyFlaSnotress

      No, DogBreath, I’m not SP2

    • Kim

      The comments on this blog are entirely out of hand.

      • df NJ

        Actually, from people’s fingers.

    • Mike Smithy

      I beilieve you are correct. I wish Michael would query the source IP logs on his server. He would likely discover that both personas have the same IP address.

    • Rorschach

      James and SP2300ROFL are also the same persona as well.

      • Mike Smithy

        You are probably correct. Times are tough at Media Matters as their propagandist trolls have to assume multiple personas.

        • Rorschach

          They have had to cut-back on their trolls so now each of their trolls has had their work quadrupled.

          • Mike Smithy

            It’s the Obama economy.

          • Scott Comin

            Oh yeah and who runs the Obama economy? NEOCONS

    • HeyAHuman

      SP2300ROFL is fwalker15.

  • df NJ

    Fear not because God will save our country from unnecessary economic misery! Just have faith in our all-powerful, all-loving, all-merciful God and everything will be fine!

    • Bill G Wilminton NC

      df NJ we used to be a country under God now we are country under the sink. The coupe de faucet was the same sex marriage being passed and then ( shaking our fist at GOD) and putting the pastel lites on the White ( out ) House.

      We dont deserve to be saved as we as a country are not under GOD and it is obvious that HIS hands of protection are being removed.

      God always gives the leader that a country DESERVES and look what we got…a Muslim homosexual president !

      I have faith in God and that is why unless this whole country changes direction, we get on our knees and pray for forgiveness the judgement on the USA is a foregone conclusion.

      Those that truly love/trust God will be fine, read the Bible it is the hedge against this collapsing, immoral, corrupt culture that the USA has become. Just like Israel in the Old Testament.

      Maybe the chorus of 55 million little voices of USA babies slaughtered in the womb calling for JUSTICE…… their time for JUSTICE has come.

      Shalom

      • Gay Veteran

        “…The coupe de faucet was the same sex marriage being passed and then ( shaking our fist at GOD) and putting the pastel lites on the White ( out ) House….”

        there you go again, blame Teh Gays.
        and yet you are silent about our wars of aggression (over a million dead in Iraq alone)

        • Bill G Wilminton NC

          never should have been in IRAQ… Bush Sr and Jr are both traitors and busy little bees doing what THEY were told by their NWO and Globalist elitist bosses.
          FAMILY BREAKDOWN :…I dont blame the gays anymore than an adulterer or any other perversion of morals. Part of the attack on the USA is the family and when you break the family you break the culture and when you break the moral culture and the financial culture you are left with a pile of horsemanure. And we the USA are getting very close to collapsing into a manure pile……when a building or culture loses its structural integrity the result is the same……as I have said to you before just like ROME !.

          • Gay Veteran

            “FAMILY BREAKDOWN :…I dont blame the gays anymore than an adulterer or any other perversion of morals….”
            ok Einstein, explain how Teh Gays are causing family breakdown. You heterosexuals are 100% responsible for that

          • Scott Comin

            I agree.

          • Bill G Wilminton NC

            It’s the moral breakdown COLLAPSE of the nation……the kids are raised in a immoral culture……. boys in school can now announce that ” I am a girl ” and charles becomes charlene and can use the ladies room ha ha so sick is this culture…………

        • Scott Comin

          Amen

      • df NJ

        Maybe God is punishing us because we have too much war. Google “Timeline of United States military operations”. I do not think what the US does every year is what Jesus had in mind. I doubt very much Jesus would approve of our military policies of shoot first, shoot second, and shoot third, no diplomacy, no peace, everyone in the World is our enemy.

        • Bill G Wilminton NC

          This country was knitted together by God to be the light and spread the Gospel to the world….to send missionaries around the globe not battleships and warplanes and napalm.

          The founding fathers said ” we gave you a Constitutional Republic lets see how long you can keep it ” Well we made it a couple a hundred years and in the last 40 we have hit fast forward to OBLIVION.

          This is a Spiritual Battle against the demonic powers of darkness. Get a Bible read it and live it GET RIGHT WITH GOD…. as WE are in THE END TIMES.

          Shalom

          • awb22

            Amen

          • Gay Veteran

            “…and spread the Gospel to the world…..”

            BS

            cheers

          • Scott Comin

            Yes the gospel of death and destruction

          • Bill G Wilminton NC

            YUP…..spread the gospel to the world. Just like Princeton Yale and Harvard were all instituted as Bible Colleges……..yup

    • REALIST

      Pray to Odin. HE sent his son, THOR, to save mankind. Accept THOR as your personal saviour and you will gain heaven. Plus a cool looking hammer.

      • Bill G Wilminton NC

        I hit my thumb with a hammer and now it is THOR you mean that one ?

  • HomoRationalensis

    It’s clear a massive crash is coming and there’s no one left to stop it

  • merrileerj

    It’s coming it’s coming….when is it HERE? Seems it’s here now, but we just keep reading it’s coming.
    Yeah hard to believe people don’t see it, they must not watch what is going on outside t heir own little circle, like I used to be when I was busy raising my kids almost 40 years ago.

    • ONE WHO KNOWS

      Well, something is happening. Most people I know are struggling financially. They are either juggling a few part-time jobs or can barely pay their bills on one income. I was working for a staffing agency and holding down a part-time job, but those positions ended. THIS IS CRAZY!!!

  • Rhialto the Marvellous

    It’s almost becoming a self-feeding process with the markets cannibalizing themselves.
    Oil goes lower, which drags the stock market down, which reduces the number of jobs, which reduces the need for oil, which causes oil prices to go lower…
    The best investment these days is Hard Work. Invest in yourself. Start your own business if you can so you won’t be at the mercy of your employer’s stock price.

  • Rhialto the Marvellous

    NYSE stocks at 52-wk low – 1137
    NYSE stocks at 52-wk high – 1

    • REALIST

      Buy that “1” !!!!!!!!!!!!!!

  • Rhialto the Marvellous

    I’ve read that Saudi Arabia refuses to tighten oil exports because
    – they are trying to put US shale producers out of business
    – they are trying to damage Russia economically on behalf of the US

    These may be true, but there’s another reason –
    Persia (Iran) is about to flood the market with over 1M barrels/day. I believe Saudi Arabia, whose mortal enemy is Persia, is trying to damage the Persians more than the US or Russia.

    • Rorschach

      Your right but the 1M barrels/day hasn’t happened yet. They are ramping up production again to 500K barrels/day but the 1M barrels/day will happen by the end of 2016 (estimate). So both Saudi Arabia and Iran are competing with each other for oil production and considering that both are enemies of each other it wouldn’t take long for both to become more directly involved in their proxy wars.

  • Rhialto the Marvellous

    11:03am – oil now in the $26 range…

  • AzDi

    Really people, we NEVER came back from the 2008 recession. Look at how many people are not working since then…. 96,million. And what jobs are out there are part time or fast food, etc. Not too many companies hiring in the last 7 years of Obama’s lackluster economy. And considering the “so called numbers” coming out of this administration are fake. 5% unemployment? right. We all know it is at least 10%. Plus his horrible policies and regulations, and overreach……. etc. has certainly made things worse.

    So everyone was listening to the fake stuff thinking everything is OK, ( because they said so), except…… we never FELT IT, and those of us who have been listening and watching and paying attention, have known all along.

    No one should be surprised.

  • Rhialto the Marvellous

    Reagan’s supply-side, trickle-down economics and foreign policies are looking pretty good now, huh?

    • Rhialto the Marvellous

      Cruz 2016

      • Gay Veteran

        oh, so you support a gay guy for president?
        interesting

        • awb22

          don’t we already have one?

    • Rhialto the Marvellous

      Longest and strongest economic expansion in US history.

    • AzDi

      WHY oh WHY do people continue to vote for a democrat or, now a socialist… aka communist!

      • Gay Veteran

        democrat = republican

        • Rorschach

          That’s why it’s called Republicrat 😉

          • GoldenGirl

            I like that. Especially since the last three letters spell rat. Appropriate. :)

        • awb22

          liar

        • AzDi

          You do know that our government is a representative government…. the people are in charge. We vote them in and we vote them out. Except the liberal democrats are apparently lock-step with the party. They do not care if Clinton is corrupt. They do not care that Obama is a dictator. They do not care that some old man is a socialist/communist. That is the democrat party.

          Yes, the establishment in the republican party has gone way out of control especially with special interests/big lobbyists. So…. THE PEOPLE have been trying since Obama got into the WH (especially, but for years before that also) to get rid of the RINO republicans. Does that not say something about the people who CARE about our country? This is why we now have “outsiders” winning over the establishment. It is the PEOPLE who do not sit back, unlike you, and complain but do nothing!!

      • df NJ

        For the same reason people vote for Republicans who preserve and encourage cartels and monopolies.

      • Scott Comin

        They are the same thing. Republicans fake God is business. Democrats fake God is government

    • Gay Veteran

      Reagan doubled the federal debt, raised SS taxes, etc.

    • Scott Comin

      That’s where this came from.

  • billtheguy

    When it all over and done with………the fat lady has sung and left the building…….I have 3 potatoes I’ll trade you for some honey.

  • nevergiveup

    More than 500 points down on the Dow Jones in 3 hours. The graph is Looking like the edge of a cliff

  • Whisper

    The Dow at this moment is down 517 pts. Another sell off that will be very slow to rebound if things stabilize at new lows, but it is not done yet. I recall in 2008 it took until 2011 to realize the damage of the recession, so this sell off may take some time before the full effect of the damage is realized.

  • REALIST

    12:46 PM, Wednesday, OIL IS TANKING (pun intended) and the DOW is down over 500. This is it folks. Now the margin calls are hitting. Now the Middle East has to sell all their holdings. Bye Bye paper wealth.

    • Bill G Wilminton NC

      Dont be so fast…….the Plunge Protection team will kick in around 3…….to contain the DELUGE……for today

      • REALIST

        at 2:59 BUY, then at 3:59 SELL.

        • Bill G Wilminton NC

          NOPE and this sounds like SP2300ROFL BS again

      • Rorschach

        PPT is busy doing corporate buybacks already. The problem is with the timing and they will reap what they sow.

        • Bill G Wilminton NC

          Yup you can count on their afternoon sprint………….to limit the collapse.

  • Alcoholic Prepper

    It’s a day scripted for Theeconomiccollapseblog

  • Barry Goldwater

    We never properly repaired the 2008 mess. Like putting new siding on a house with rotten foundation the Federal Reserve and the Administration monetized the problems. ZIRP and QE filled Wall Street Banks with cheap money which they used in share buybacks creating dramatic price inflation lending the appearance of prosperity. At most cheap money has kept the corpse’s of failed companies alive when they should have been allowed to fail. That is the way a free economy works, business model fails , business closes and new business spring up offering a newer and more profitable approach.
    Price discovery is now under way and the carnage has just begun. The financial bubble constructed by Bernanke-Obama- Yellen and global Central Banks is coming apart . Our fate was sealed when they decided to engineer the Stock Market to create the false wealth effect.
    Friends , if you haven’t prepared there is only a little time remaining for you to take action. Don’t wait any longer the hour is near as the globe spirals into chaos. Conventional wisdom does not apply this time around. This is not just another downturn it is the utter failure and collapse of financialization and this dream ends horribly for all Americans.

    • Bill G Wilminton NC

      Well said…….GOLD STAR……thanks

  • Ben

    You all went crazy last year when the markets were tanking, and then they dramatically recovered. Why should we believe you now?

    • HeyAHuman

      What would it take for you to become concerned? The signs are everywhere. Prepare before it’s too late.

    • Bill G Wilminton NC

      The insolvency of the country was NEVER corrected the WECUBRY was just BS based on more DEBT.

      READ MR BARRY GOLDWATER POST BELOW he does a pretty good job explaining…….

    • ONE WHO KNOWS

      Last year? That was just a dress rehearsal. You ain’t seen nothing yet. Listen, I’m clueless when it comes to the economy, Dow Jones, stock market and finances. But I got this deep sinking feeling that I just can’t explain. And the feeling will not go away.

      • Kat T

        Same here. I’m glad I’m not the only one.

    • Rorschach

      Oh look who it is. Ben the troll. Sorry but you don’t warrant a proper reply.

  • The GOOSE

    According to President Obama, Michael is “peddling fiction”.
    If I had to choose between Obama or Michael, I’ll take Michael every time.

    • Bill G Wilminton NC

      Pres Obama BS BS BS BS and Michael has done a great job………..

    • Bill G Wilminton NC

      Obama is like SP2300ROFL just BS BS BS

  • It’s worth noting all the main indexes charts (DJIA, Nikkei, Russel, Nasdaq, Stokk, FTSE) – can be look at on the Wall Street Journal – are going seriously down. But this is only on a day or 5 days basis.

    However, it is when we take them in the 1year span of time that we can see a clear downward trend. It is the speed of the last “down” trend which is worrying. This is not “correction” territory anymore it is “spanking” territory.

    The Sado-masochist of Finance probably like the spanking, but you have those who prefer to avoid both, that is the general population… the problem is they rarely ask our opinion and spank us as well…

    I just hope that after “spanking” territory, we will not reach “whipping” territory, which invariably lead to “torture” territory… so, let’s hope in a Financial miracle…

    • Bill G Wilminton NC

      ha ha well said……………gold star………thanks

    • SP2300ROFL

      Complete nonsense

  • DB200

    Mr. Nussman had a convincing article in July 2015 about how the markets were terribly overvalued just like 1929, 2000 and 2008. After reading this article but also other articles from other writers including Michael, I decided to sell all my stock in July and early August. So far this has saved me a lot of money.

  • Mr. Jameson

    No it wouldn’t interest him, james is a troll/shill just like sunnyflasnotress and sp2300rofl

  • redryder1

    PPT has REALLY put on quite the performance today!!………..

    • Rorschach

      They still couldn’t prevent it from closing in the negative hundreds. Their losing their effectiveness each time they try and artificially prop up the markets.

      • SP2300ROFL

        Fools are now focused on the generals fighting the last battles capturing media headlines while the broader indicies bottom and begin the counter trend rally. Media again whipsaws fools

        • Rorschach

          So you classify yourself as a fool? Okay that’s good to know.

  • Stephane Pasquier

    Maybe we underestimate the power of Central Banks, who can inject in the financial system endless amount of money, by just entering numbers on their computers……

    • Fellie Chn

      What I see is this :

      Lesson 1 : Credit cards charge Higher interest rates in
      parallel to the Feds IR.Therefore the QE is useless from the bottom UP.
      Lesson 2 : People are paid less, therefore lesser money goes back to the circulation.
      Lesson 3 : Tech Stock are OVER-Valued and therefore UNSustainable.
      Lesson 4 : People are buying LESSER GOODS, and therefore Lesser money are going back to the
      circulation.

  • Priszilla

    QE4 ?

  • Orac4Prez

    2016: The Year China looses Face? …or will they just drag on…

  • SP2300ROFL

    SP2300ROFL 9 hours ago
    BTFD :) counter trend in Russell begins today jmho :)

  • SP2300ROFL

    P2300ROFL Nathan Arizona 19 hours ago
    I’d keep an eye on precious metals they may be first tell if CB’s blink. I just don’t get as bearish as 1800s as I did at 2100s. That doesn’t mean we aint headed south.

    • Rorschach

      Working overtime again unpaid troll?

  • SP2300ROFL

    P2300ROFL 8 hours ago
    After market makers absorb the selling I expect them to try and retrace back to the breakdown point and sell what they got hit with to flatten their books aka back and fill

    • Rorschach

      More underpaid overtime work for the trolls. Desperation is what it is for them.

      • SP2300ROFL

        I visit this site to laugh at your kind for free. I’d probably pay for the comedy you wannabes provide ROFL

  • SP2300ROFL

    SP2300ROFL Skepticide 8 hours ago
    That may slow frb policy measures maybe they blink and add liquidity metals likely spike then stocks when shorts scramble- those are where that rip your face off comes from – short squeezes – CNBC rookies don’t know that proven by that foolish article that likely harmed many :(

    • Rorschach

      Yep you are desperate.

  • SP2300ROFL

    SP2300ROFL
    29 minutes ago
    Copper the proverbial canary in the coal mine may be best indicator of a true – dare I say – cyclical recovery……(ducking)….
    :)

    • Rorschach

      Troll orgy? Seems like it.

  • SP2300ROFL

    SP2300ROFL 8 hours ago
    Important to remember: just as in bull runs when prices seemed they couldn’t go higher they did cause of short sellers squeezed. In ‘bear’ scenarios just when you think stocks can’t go lower they do- because of margin and forced sellers at the lows. Just when you think it can’t go lower – it can. Careful of value traps as relative valuations are tamped down in all asset classes. Good luck to all.

    • Rorschach

      Jazz must be working extra-hard with that troll orgy.

      • Jazz

        No orgies for me lol. Just scooping up some bargains!

  • SP2300ROFL

    SP2300ROFL Undermak 8 hours ago
    For now I wouldn’t expect more than another 5-10% lower at max but its all about central banks reactions. If they don’t get ahead of this another 20-30%+ is possible – easily. Some perspective oil lost 85% from its high equities are not immuned but I don’t want to yell fire in a crowded room at 11 wall st or the service entrance at 30 broad – JOKE- stay diversified is the only way to offset risks. Its treacherous for sure – unprecedented risks after a boom bust style experiment- the final answer requires saying zero is the ultimate low but extremely unlikely. Don’t panic but mutuals get inundated with redemptions the process may be unimaginable fugly for up to 2-3 weeks – patience is the pain trade. Best guess lows won’t take out 900 on sp500 but I don’t see it. Hope that helps – I’m buyer of peripheral – non indexed when I can find them – lots of value surfacing

    • Rorschach

      More copy and paste from the troll farm?

  • SP2300ROFL

    Watch and learn. :)

    • Rorschach

      Another scripted response provided to you by the no-brain troll.

      • SP2300ROFL

        Keep guessing clown ROFL

    • Jazz

      Instead of mocking people, why don’t you provide some value? Where do you think the markets are heading? Are you long or short? Anyone can type mindless comments.

      • SP2300ROFL

        Mindless ROFL reread your notions. When you can trade 1/1000th as accurately post one. :)

        • Jazz

          Well I’m making money in this market so I seem to be trading okay!

          • SP2300ROFL

            Of course you are. You’re here EVERYDAY crying buy buy buy and how bullish markets are. You must be making a fortune!!! Roflmao

          • Jazz

            LMAO! You don’t understand long/short strategies? Go read a finance book buddy and get a clue.

          • SP2300ROFL

            Care to expound on some of that wisdom with some specific symbols Pinocchio? :)

          • Jazz

            Of what I sold or what I own?

          • SP2300ROFL

            Whichever you prefer :)

          • SP2300ROFL

            That shut him down…. TILT ….

          • Jazz

            Today I sold EEV, BZQ, DUG, FXP, and UVXY for 50%+ gains. Look at my comments from Oct/Nov. I was short emerging markets and oil. Long volatility. I bought SPY $185 march calls

  • max gon

    The whole financial speculation Wall Street scam is about to blow up very soon. Be ready, this time is for real.

    • SP2300ROFL

      Roflmao

    • Jazz

      This time is for real. So the other 35 warnings were false?

      • SP2300ROFL

        As were his 35 from last week and the 35 per week for years ROFL

      • ONE WHO KNOWS

        ONE WHO KNOWS sadly shakes her head. For some people cannot see the “forest for the trees.” The man-made system is unraveling right before your two eyes and you refuse to see it. For example, many folks on this site trust Michael’s work over the official powers-to-be. That aforementioned illustration demonstrates that the SYSTEM IS UNRAVELING. You’re expecting FIREWORKS and other grandiose events to take place. God works in mysterious WAYS. The REALITY. The OBVIOUS is what’s REAL. The Dow Jones, Stock Market, Economy, are man-made systems that have outlived their usefulness.

        • SP2300ROFL

          Roflmaoooooo

  • James

    Yes, Atlanta fed predicted 0.6% but could not deliever data on time and Zero Hedge went crazy.

  • Jazz

    Wow what a comeback! Smells like we hit the bottom today and ready for a sharp rally. Get ready for some fireworks! The markets are ready to go up up & up.

    • SP2300ROFL

      They need at 15%- 20% rally to get back to even where your rally cries began :)

      • Jazz

        Well dude. I play both sides of the market with calls and puts/inverse ETFs. I’m still up so far this year!

    • Rhialto the Marvellous

      I hope it happens Jazz. Our once-mighty American economy is pretty sad these days.
      I miss Ronald Reagan.

      • Jazz

        I do too. He was a true leader unlike the clown in office now. And it doesn’t look like we have ANY hope on the way.

        • SP2300ROFL

          Hope is all you have. Tell them how AAPL is knocking the cover off the ball again. Its only down $30 per share since that brilliance…. Clown ROFL

          • Jazz

            Not sure why you keep talking about Apple… I don’t own apple. I like their products not its stock.

          • SP2300ROFL

            Ducking from that call now 25% lower. Ok Pinocchio ROFL

          • Jazz

            Ok find a quote with me talking about Apple. Stop putting quotes in my mouth. If I said it, i own it! I haven’t been long apple in a great while. They do not innovate anymore. They are a phone manufacturer.

          • Jazz

            crickets… I rest my case!

  • CharlesH

    The entire global economy is picking up steam but in the wrong direction – everyone is heading down that long dark road. What lies ahead is anyone’s guess. Do what you can to protect you and yours. Nothing looks too secure for any of us.

    • Jazz

      It looks great here in the U.S. Markets are in a little correction – no more no less. We hit the bottom today and ready for another recovery.

      • SP2300ROFL

        No more no less? You’re too stupid for words. Learn the industry standard definition of correction. See for yourself how foolish your comments are.

        • Jazz

          “DEFINITION of ‘Correction': A reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation.”

          The markets are down 10% or so, so who’s the moron?

          • SP2300ROFL

            Comical watching you scramble and post your own version rather than true definition. Pinocchio is perfect name for you :)

          • Jazz

            That was from investopedia, but nice try, genius!

          • SP2300ROFL

            Keep relying on investopedia rather than industry standard definitions ROFL. Meanwhile sp500 components down 20% have printed in bear market definition and your darling AAPL from 134 to 92 down 30% defined as crash..along with the Russell indices and transportation index. ROFL

          • Jazz

            Yeah some components are in bear market but the S&P as a whole is in a correction.

          • SP2300ROFL

            {{{ great here in the U.S. Markets are in a little correction – no more no less. }}} ={{ components are in bear market but the S&P as a whole is in a correction}} ROFL

      • Bill G Wilminton NC

        please send us a supply of your drugs they must be good……….

  • itwillbedone

    We all have disobey the rule of God. There will be a warning coming soon for people to convert. Remember we are dust and dust we will return. Russia was chosen by God to bring back the faith. Economic collapse is inevitable. April 15 is the date to look at. Then May 12. God bless any righteous souls left.

  • Tatiana Covington

    Whether China wants to admit it or not, is neither here nor there. Apparently that recession there is a fact. Facts are facts, and couldn’t care less if you face up to them or not. Reality is real. Truth is true. A is A.

  • thegeorgespyman
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