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The Top 12 Signs That The U.S. Economy Is Heading Toward Another Recession

12 SignsIs the U.S. economy steamrolling toward another recession?  Will 2014 turn out to be a major "turning point" when we look back on it?  Before we get to the evidence, it is important to note that there are many economists that believe that the United States never actually got out of the last recession.  For example, data compiled by John Williams of shadowstats.com show that the U.S. economy has continually been in recession since 2005.  So if anyone out there would like to argue that America is experiencing a recession right now, I certainly would not have a problem with that.  In fact, that would fit with the daily reality of tens of millions of Americans that are deeply suffering in this harsh economic environment.  But no matter whether we are in a "recession" at the moment or not, there are an increasing number of indications that we are rapidly plunging into another major economic slowdown.  The following are the top 12 signs that the U.S. economy is heading toward another recession...

#1 We recently learned that the number of new mortgage applications in the United States had fallen to the lowest level that we have seen in nearly 20 years.

#2 Radio Shack has announced that it is going to close more than 1,000 stores.  This is just another sign that we are in the midst of a "retail apocalypse".

#3 The ISM Services index just fell to its lowest level in 4 years, and ISM Services Employment just experienced its largest decline since the collapse of Lehman Brothers.

#4 Obamacare is really starting to hammer the U.S. health care industry...

"The Affordable Care Act is creating significant financial uncertainty to health care organizations," said a survey respondent from the health care and social assistance industry.

"With little warning, the negative impact on revenue has been unprecedented."

#5 Trading revenue at the "too big to fail" banks on Wall Street is way down...

Citigroup Inc. (C) and JPMorgan Chase & Co. (JPM) are bracing investors for a fourth straight drop in first-quarter trading, a period of the year when the largest investment banks typically earn the most from that business.

Citigroup finance chief John Gerspach said yesterday his firm expects trading revenue to drop by a “high mid-teens” percentage, less than a week after JPMorgan Chief Executive Officer Jamie Dimon said revenue from equities and fixed income was down about 15 percent. If trading at the nine largest firms slumps that much, it would extend the slide from 2010’s first quarter to 36 percent.

#6 One of the "too big to fail" banks, JPMorgan, is planning to fire "thousands" more workers.

#7 Moody's has downgraded the credit rating of the city of Chicago again.  Now it is just three notches above junk status.

#8 The U.S. economy actually lost 2.87 million jobs during the month of January according to the unadjusted numbers.  Over the past decade, the only time the U.S. economy has lost more jobs during the month of January was in 2009 at the peak of the last recession.

#9 In January, real disposable income in the U.S. experienced the largest year over year decline that we have seen since 1974.

#10 Only 35 percent of all Americans say that they are better off financially than they were a year ago.

#11 Global retail sales for machinery giant Caterpillar have fallen for 14 months in a row.

#12 The economic data show that virtually all of the largest economies on the planet are slowing down right now.  The following is from a recent Zero Hedge article...

The last 3 weeks have seen the macro fundamentals of the G-10 major economies collapse at the fastest pace in almost 4 years and almost the biggest slump since Lehman. Despite a plethora of data showing that 'weather' is not to blame, US strategists, 'economists', and asset-gatherers are sticking to the meme that this is all because of the cold on the east coast of the US (and that means wondrous pent-up demand to come). However, as the New York Times reports, for the earth, it was the 4th warmest January on record.

For much more on how the rest of the global economy is also slowing down, please see my recent article entitled "20 Signs That The Global Economic Crisis Is Starting To Catch Fire".

Meanwhile, things in Ukraine continue to become even more tense, and the Russian government continues to debate how it will respond if the U.S. does end up deciding to hit Russia with economic sanctions.

According to one Russian news source, the Russian parliament is actually considering the confiscation of the property and assets of U.S. businesses in Russia if the U.S. decides to go ahead with economic sanctions against Russia...

The upper house of Russia’s parliament is mulling measures allowing property and assets of European and US companies to be confiscated in the event of sanctions being adopted against Russia over its threatened military intervention in Ukraine.

We are talking about banks, retail chains, mining operations, etc.

U.S. companies have billions invested in Russia, and all of that could be gone in an instant.

So let us certainly hope that economic war between the United States and Russia is averted.  Our economy is hurting enough as it is.

But no matter how things with this crisis in Ukraine play out, it looks like hard times are ahead for the U.S. economy.

Unfortunately, most Americans never learned the lessons that they should have learned back in 2008.

They just assume that the federal government and the Federal Reserve have fixed our problems and have everything under control, so they are not preparing for the next great crisis.

In the end, tens of millions of Americans will be absolutely devastated when they get absolutely blindsided by what is coming.

Time Is Running Out

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  • CharlesH

    Excellent but very disturbing article. You won’t get an argument from me on anything that was written.

  • Priszilla

    Why do you think, the crisis of 2008 is already over?

    • Tim

      He doesn’t. Did you read the article?

      • Priszilla

        So, why “another” recession, then?
        It is still the same recession.

      • Priszilla

        It is still the same recession, not another one.

        People don’t get paid enough
        they don’t have money
        they don’t buy enough
        products don’t get sold
        factories fire people
        people don’t have income
        they don’t have money
        etc.
        etc.

  • K

    I think we are already in a recession, well on our way to a depression. Add to that what I saw in the grocery store today. For the first time, the price was up on everything. I could not find a single thing the price had not increased on. Gasoline going up again. Folks you need to take what steps you can right now. For those of you still trying to stock up on ammo. I would expect all ammo exported out of Russia and the Ukraine to stop. That is about 25% of the ammo on the market. Far higher a % than that in certain calibers. You are on the very edge of too late.

    • garand555

      With 47 million on food stamps, and an employment:population ratio that dropped from 63% pre-Lehman down to between 58% and 59% and has stayed there, I would say that we have been in a depression for a while. It’s only going to get worse.

      • 2Gary2

        I think Michael was correct about it being a long slow recession/depression.

    • wk

      At least 22 are starting to get easier to get.

  • Tim

    “The U.S. economy actually lost 2.87 million jobs during the month of January according to the unadjusted numbers.”

    Yet the Bureau of Lies and Subterfuge (BLS) told us that 113k jobs were created that month? Wow.

    I wonder what they’ll come out with this Friday when they publish the February NFP Report.

  • Sack man

    Most brick and mortar stores should be higher end to succeed. Internet can replace what stores like radio shack sell. I notice malls are getting the higher end stores and doing well.

  • jakartaman

    This is old news – the only questions are what will be the straw and when

  • Hillbilly

    If Russia drops the dollar so will China they are in lock step right now. Things could unravel quickly here in the good ol USA. Make any last minute preps top off the ammo and food stocks. Keep your loved ones close bow your head and pray.

    • Syrin

      Hillbilly gets it

    • Joshua

      I live in Mexico, 10 minutes from the USA border. And yes, we do see the changes right now, if you guys are having a very rough time, believe me, we do too.

  • Libsare Ajoke

    fasten your seat belts, gary is a piece of garbage

  • old fart

    so far Putin has outsmarted Obama at every move, China has seen that also so expect her to start up some tactics against the USA Both financial and world oils especially the ones in the Philippines where new deposits have been found.

    • Bruce

      Both Putin and Obama have MANY in their fold thining options through. I think the whole thing is planned and scripted.

  • Kim

    Goodbye….nice to know you.

    I’m wondering how to adjust my living standards down a notch; to accomodate for this apparent economic reality, and to be honest, I have no idea what else to do. I’m waiting for some critical event so I can respond accordingly. Yeah, I’m preparing, but for what exactly I do not know. How will this play out? To what end? This slow agonizing economic death is incredibly painful to live through. We are all holding on to nothing, yet it’s all we have to hold on to.

    • Tim

      The uncertainty as to how long this will take to play out is the hardest part. I just read an article on ZH by James Howard Kunstler. His point in the article is basically to persevere because collapse is coming.

      • Kim

        I never miss his Monday morning blog.

      • Rodster

        Part 2 is out if you are a member to peakprosperity. Just reading the first paragraph teaser doesn’t sound like post collapse will be a fun ride and he seems to allude this is not just for the US.

    • K

      Water, food, and the ability to protect yourself. Whether it is an economic collapse, or an earthquake. These 3 basics are needed. For the economic situation, many of us are in, doing anything more is not within our reach anyway.

      • Tim

        Yeah, I see these TV shows with preppers spending enormous amounts of money on underground bunkers and things like that. Personally, I don’t have that kind of money. I’ll do the best I can with the limited means that I have and trust the Lord to bring me safely through the storm.

        • Selaretus

          Those sedentary preppers; those living in a fixed location are doomed; sitting ducks for gangs and roving thugs who will simply lay seige and wait them out. The only plan for most of us is to be mobile; build a smart bug-out-bag containing essentials like a survival stove that can burn anything, fire starting capability, water purification, some extra clothes, some kind of shelter, and a gun. Prepare to be mobile, and not fixed to place.

          • hmmmm

            Bugging out isn’t an option for many and not necessarily the smartest thing to do. I would rather stay where I am with my neighbors and defend our neighborhood together than be camping in an unknown area with a hobo stove and leaves for toilet paper scrapping together what food I can find for a family of four. I don’t think bugging out is realistic.

          • Lexxs

            Bugging out is a fantasy for most people. People live in urban areas today because living in the woods in the past was so much more difficult.

          • The Duke

            Seriously? Just like in The Walking Dead? How would you carry enough water, not to mention food, ammo, med supplies, clothing and shelter with you? A stove, tent, sleeping bag, food and water alone for even a few days would be a lot to carry, and then what if you had to hide or run? And where would you go? You would constantly be in unfamiliar territory, where all it would take is a kid in a bush with a .22 to end it for you. Good luck with that idea.

    • Rodster

      And when it eventually hits you will be glad you prepared. Don’t forget, the food you buy now is a hedge against inflation because food prices are rising. So what you are doing is not in vain.

      • piccadillybabe

        If you do buy food, buy it freeze dried. OTC food has a shelf life. IMHO.

    • Libsare Ajoke

      grow some tomatoes!

      • davidmpark

        Start them now under clotches, cold frame, hot bed, or greenhouse.

        Got mine going under some gallon milk containers with the bottoms cut off. It’s a good clotch for the money.

        By May, tomato plants should be flowering.

        • garand555

          I’ll just direct sow mine with no cold frames or anything of the sort next month. I tried that last year in May just as a “lets see how this works out” spur of the moment thing, and those ended up being the biggest healthiest plants. I did get a 5×25 bed planted with brassicas and onions today. I have friggin’ volunteer lettuce already coming up with decent weather predicted as long as the forecasts go out, so I figured I might as well. My hardneck garlic is also about 2 1/2″ right now.

          • davidmpark

            I love volunteer plants! Bonus points!

          • garand555

            Yup. While I like to rotate crops (I let some lettuce go to seed there last year,) I think I’m going to let these go, and saving seed from them again. My philosophy is that if it can’t survive to go to seed, it doesn’t belong in my garden.

          • NowAlive

            It’s funny you would say that. I had some volunteer tomatoes come up one year and I just let them grow. They definitely outperformed the ones I transplanted from my house.

        • strangerthanfiction

          Shhhhhhhh!

          • davidmpark

            Shhh?

      • Syrin

        The liberals are making growing food illegal. Find a way to conceal your efforts if possible.

        • ian

          huh? liberals are the ones who mostly grow their own food.

          • Uh-hUh

            You are thinking liberal “hippies” who grow their own food. Liberals = Hardline Democrats = communists make too many “laws” to allow you to grow your own food.

        • k

          Its bigAG that bribed politicians to make laws to grow food illegal.

          They will lose the most if people all over america start growing their own food

      • Kirill

        Tomatoes actualy not a good choise. They have low energetic value and basically worthless.

    • Bruce

      Kim, you don’t have to know exactly what your preparing for. No matter what the catalyst the end result will be economic collapse at a minimum. From an asteroid hitting the earth to war to energy prices to wide spread bird flu. Everything negative thing affects the economy. Prep now for when it really starts there will be no time. Many people want unarguable, sure signs. Problem is by the time they get those there is no time left.

  • ramrodd

    awaiting moderation??

  • Paul

    The company I work for cut 15% of its workforce last year. This year staff will be cut 20%. This is about 600 employees. Companies like Dell and CITI are laying off thousands of employees. If the economy was vibrant like so many sheep claim it is then massive layoffs would not be occurring as frequently.
    Sheep come in all shapes, sizes, education levels, and income brackets. The former CEO of the company I work for bought way too much into MSNBC’s claim that the economy was recovering. His overly optimistic forecasts and projections prompted our now fired CEO to grow the business way to fast. Projects that were thought to be profitable turned out to be unmitigated disasters. The margins and profits simply were not there. Thus regular hard working Americans had to pay the price for his bad decisions.
    Morale at the company I work for is destroyed. A lot of employees are overworked due to picking up duties for people that left.
    What is also disconcerting is the new CEO is buying into the same propaganda that the economy is improving. During the State of the Company meeting the new CEO projected that the U.S would experience moderate economic growth. He also claimed that China’s economy would be stable.
    Lives are being destroyed by high ranking leaders buying into propaganda that the economy is improving. It is truly disgraceful.

    • Jane Bobsky

      Didn’t I hear yesterday that Bill Gates is spending a ton of money opening up a new factory in China. Probably using TARP money. This “patriot” wants amnesty and cheap labor in the US.

    • Mike Smithy

      In the event we need more evidence that this is a false recovery, I just read that Staples is planning on closing 225 stores.

    • oldtoady

      The company I work for added another week of vacation. We are usually off the week of Thanksgiving, Christmas, NewYears, 4th of July, and Easter, Now we are off Memorial week also. It used to be just that Monday we were off..
      Less money I make, less taxes I pay. Its a downward spiral.

  • Human

    Already in a deep depression…looks less worse now than in the great depression due to a drastic population increase and an influx in various different job sectors, like technologies for example.
    Really the only problem we have are corrupt politicians. Plain and simple. In fact, US citizens owes the US citizens a debt of $9.8 trillion, which far exceeds China owning the US debt ($1.16 trillion). Total debt owed to all foreign entities is around $4.5 trillion.
    Just shows how much we are being taken for on taxes alone. “The new Affordable Health Care Act has nothing to do with taxes.” Sure. That’s why the IRS has control over the fines issued if you don’t acquire insurance. Obviously it will help many people, however, what have we turned into where you either have to own health insurance or get a fine if you don’t? Seems as though it’s a bit fascist. Actually way cheaper to pay the fine that you shouldn’t even have to pay. We should have a European-style health care and affordable housing system in place during this day and age. Profit is more important than well-being apparently.

  • davidmpark

    Well, why not?

    Money was violated and molested to breaking point.

    Our leaders (the leaders we deserved) treat our rights with contempt.

    A good number of folks have hardened their hearts from all this iniquity.

    The poor and afflicted are treated horribly.

    And we have little friends worldwide as our previous actions were hypocritical and our current administration hates their own people.

    Some days, I wish it were easy to renovate this land. To encourage good laws, to exhort folks to enforce their rights to their leaders (and to pick good people in the first place). And to break the chains and allow the American Industrialist to work again.

    But no; enough people decided they’d rather collapse and ensure suffering.

    May the Lord gather His faithful out of this Babylon.

  • dbomb12

    It has been a long slow excruciating ride downhill just like Michael said it would be when everyone was looking for a one time black swan event. We are about to bottom out with a fatal blow but before that happens the globalists are going to suck us dry of every cent we have

    • ian

      said that last year…and the year before that…and the year before that…and the year before that…and the year before that…and the year before that. and the year before that………

      • dbomb12

        So whats your point, do you think it getting better??????

        • ian

          i do think it’s getting better. I know of no one who is unemployed unless by choice.

          • dbomb12

            I am sure about 30% of the working force that is out of work or underemployed would disagree with you

      • Gladys Allover

        Ok..so it may have been said for several years,so what?? Can you still not see that all events are converging to a central point? If you can’t see it now then you probably never will. The sand gradually falls through the hourglass,and so it is getting nearer to running out. You think today is no different to 2007? 1990? 1965? 1923? On every level it is different,and it is marching in the direction of reckoning. Wake up! You and those that agree with you!

  • Syrin

    Heading?

  • Backdoor Barry

    Anyone else out there thinking that this is exactly what Obama wants? Never let a crisis go to waste?

  • 2Gary2

    To my conservative friends and Michael–please read this cut/paste. it sums up conservatives very well. It spells out what is wrong with conservatism. PLEASE READ IT.

    Throughout most of human history the poor were left to starve and die in
    the streets and it didn’t provide them the incentive to lift themselves
    out of poverty. Yet, conservatives contend the poor are worse off with
    government help.

    This meme is thrust upon Americans to swallow
    which happens to serve the interests of the wealthy conservatives that
    benefit from those policies. Modern conservatism uses the smoke-screen
    of self-reliance, individualism and character to mask policies which are
    self-serving, bigoted and cruel. The cadre of conservative billionaires
    don’t want to pay higher taxes that will be used to help “those
    people.” Thus, they invent a myth that the best way to help the poor is
    to NOT provide them any help at all. This way, according to them, their
    misery will give the poor the incentive to become educated and
    industrious. As I said earlier, this has never worked in all of human
    history.

    Their objective is to keep taxes on the rich low and
    keep government out of their hair. But these people’s numbers are small,
    so they need to fund propaganda groups like the Heritage Foundation to
    create false data and spread the message to middle-class conservatives,
    who are generally stupid enough to swallow their lies. Thus the pro-life
    conservative-leaning worker who listens to Rush Limbaugh will
    repeatedly vote for the party that is less likely to protect his safety,
    less likely to protect his job, and less likely to benefit him
    economically.

    • Libsare Ajoke

      conservatives donate more to the poor than liberals

      • 2Gary2

        Did you read the post? I know its long but do not let that scare you from reading it.

        • Syrin

          I could go for line and refute every point. It’s pure liberal masturbatory material not based on fact. The rich poor gap has exploded since the liberals took over, the uber rich are all liberal, etc. etc., etc. All easily proven by well documented studies. It’s fantasy land, and no one believes this crap GARY. We know Soros pays you to be a misinformation troll. Go get your faily cookie, you did your job. You are the ONLY person who reads these threads and consistently does not cogitate over what you read for even a millisecond. You are incapable of thought or learning. You are so thoroughly indoctrinated by bumper sticker slogans that you are incapable of saving. I no longer waste my time going line by line showing you volumes of facts, figures and historical data because it’s like trying to teach calculus to an amoeba. It’s just beyond it’s capablity much like basic fact comprehension is beyond yours. Your pinnacle of thought is reading the mass circulated Soros e-mail slogan that says “Tax the rich”, and I bet you have to write that down so you don’t forget it. Meanwhile, that’s what the American Fuhrer has done, and now we have record poverty, record numbers not working, record deficits, businesses closing daily, and you cannot grasp cause and effect. You could draw a knife across your wrist, and three seconds later not understand why you’re bleeding from your wrist because cause and effect is beyond your extremely limited capacity. If you get NOTHING but this, read this and try to burn it into your brain. You WILL NOT survive what is coming, and YOU were the biggest advocate for what ultimately will lead to your demise. Schadenfreude.

          • 2Gary2

            its obvious you did not (could not?) read my post.

          • wk

            They maid no since

          • KillaryClinton

            careful, 2Gary2, those testosterone shots you are taking could harm your brain…oops, too late!!

          • 2Gary2

            No low T for me :)

          • AppalledAtEvil

            It’s painful to read your posts. It’s painful to see how deeply depraved the state of humankind is.

          • 2Gary2

            There are free remedial reading classes for illiterate adults who have a hard time reading. I suggest reading is less painful when you actually know how to read and do not have to sound each word out. There is help available or you can choose the freedom of not being literate.

          • Gay Veteran

            man you have a one track mind. like the right-wing Koch brothers aren’t using their inherited $billions to buy politicians

          • Wayne Chipman

            I love your post Syrin

    • Libsare Ajoke

      labor participation rate around 60%, yipee!!!!!!!!!!!!!!!!!!!!!

    • Libsare Ajoke

      deficit of 17T is awesome

    • Libsare Ajoke

      ACORN is a corrupt org

    • Libsare Ajoke

      clinton was a serial rapist

    • rentslave

      Perhaps if the Democrats weren’t so anti white male,they’d have a chance.

      • 2Gary2

        I am a white male and many many dems are white males. I see dems as simply less tribal and much more inclusive that the GOP. Generally speaking white males are helped more by dems than are other races. For some reason white males do not see this. dems need to do a much better job of communicating.

        • YSRB

          …and when China comes knocking on your liberal gun-free door, I hope your less-tribal, more inclusive Democrats can save your behind cuz, dang, China is not gonna be cutting the metrosexual, androgynous male Dems any inclusive, less-tribal slack.

          • 2Gary2

            no one said anything about taking your guns. China has already taken the USA through our insane trade policy.

            China will not attack the USA and no one wants your gun. Turn off glenn beck and come back to reality.

            Its no wonder the GOP can dupe so many if others are as low info as you.

          • YSRB

            2Gary2 : Slow day at the troll office again? Do they pay you by the line when you blather?

          • 2Gary2

            I do think Michael should pay me to balance things out on this conservative libertarian site of his.

    • Syrin

      Here’s the reality about conservatives in the US based on actual studies. Conservatives across the board average $1600 a year to charities to $140 for liberals. Conservatives give more of their time, money and blood to charities than liberals. Three cents of every gov’t dollar taken by the gov’t for the poor actually makes it to the poor while 70 cents of every dollar from a charity reaches its intended target. Liberals on average are wealthier than conservatives, and virtually all the uber rich including the bankers who own the gov’t are liberal. There is a study I can site validating every single point. Meanwhile conservatives believe in individual liberty and freedom while liberals believe in force through gov’t to “solve problems”, yet the gov’t never does solve a single problem but makes it worse. Over $20 trillion spent on the war on poverty. How about the war on crime? How about the war on drugs? The only war that the gov’t wages successfully is the war on prosperity, the only war that GARY, a bought and paid for gov’t disinformation agent, can understand and advocate. This is why tyranny ALWAYS comes from the left because the liberals can’t fathom the good in people to help others because they PERSONALLY are misers and selfish people. So, their solution is to always FORCE people into “doing good” or else. Liberalism IS the disease.

      • 2Gary2

        I said nothing about charity and who gives what. You are as usual changing the subject because you know I am right and you can not refute anything.

        • Uh-hUh

          @2Gary2 … War on poverty? Have you seen the Appalachian region lately? Or Detroit? Or a myriad of other cities and states with a host of impoverished people and those drug-addicted? Your liberal pals are SERIOUSLY stinking. What happened when LIBERAL DEMOCRATS controlled BOTH the Senate and the House? NOTHING GOT DONE!! Name anything other than a free phone and lobster for dinner.

          You confuse what the war on poverty is. It is NOT helping somebody who can help themselves but chooses not to. It is not the kid living on the beach in California who milks the system and buys lobster with his SNAP card or the woman who smokes pot all day and claims to earn more on welfare than people who work do. The liberal “war on poverty” IS a complete joke.

          There’s where conservatism comes in = helping those who are TRULY destitute, not a lazy SOB who fathers 60 kids and squirts and deserts. Or a meth-addled mother who refuses to care for her kids and pimps them out or leaves them in the forest.

          Draw the line, liberal, any line. If you weeded out the slackers, you would be left with a much lesser number of people who truly deserve to be saved by a “War on Poverty” AND STOP HELPING THE ILLEGAL IMMIGRANTS!!!

          And you liberals whine and complain about conservatives, but YOUR liberal pals in Congress are filthy rich!!

          Explain how Pelosi and Feinstein became millionaires during their stints in office? Seven of the top RICHEST 10 Senators are DEMOCRATS!!

          And your LIBERAL democrat way of calling people names is seriously old…you liberal putz troll (how does that feel for a change?)

          • 2Gary2

            here are the facts-3%-5% abuse the system. This has been shown in study after study. I would say that corporate America is way more crooked than 3-5%. The 3-5 % of abuse needs to be harshly dealt with i agree. The VAST majority of war on poverty such as food stamps goes to those who are working or are children/elderly.

          • Scared Economist

            Go visit a convienience store in Pike County Kentucky (the heart of Appalachia) the last week of a month. You will see mountains of Mountain Dew 12 packs (not a pun).
            When the locals get their EBT allotments they use them to buy 12 packs of soda; preferably Mountain Dew. They then take the pop and sell it at a huge discount to Brokers who then sell it in the cities to stores for less than the stores can buy it wholesale. The cash is used to buy meth, beer, and cigs.
            Many people in that region use 12 packs as currency to buy drugs directly. I read that a cheap prostitute can be had for as low as 3 12 packs.
            Abuse is a lot more than 5%

          • 2Gary2

            I said overall abuse is 3-5%. Read what I said. I have no doubt there are areas where it is higher and areas where it is lower. This is how one gets an average. (duh) Your anecdotal evidence is not representative of everyone on food stamps. I can not believe I even need to explain this. You really need to use critical thinking skills and simple common sense. Sorry to be so harsh but a 6th grader should be able to reason that out.

          • strangerthanfiction

            What you are shouts so loudly, no one can hear what you’re saying.

          • strangerthanfiction

            I am tempted to think you are hopeless.

          • 2Gary2

            I know facts can be confusing to conservatives. When you find out your entire world view is wrong it is much easier to retreat into fox news where mittens beat Obama in 2012.

          • 2Gary2

            Name anything other than a free phone and lobster for dinner.—Obamacare, a stimulus that helped ease the recession (it was way too small), equal pay act (Lilly Ledbetter) etc. Again your grasp of easily understood facts is appalling. Its no wonder the GOP can dupe so many. Please tell me your not really this low info?

          • Uh-hUh

            @2gary2…Did you suck too many soy-laden GMOs as a child? You can always tell when a liberal gets agitated…he “looses” the ability to spell.

          • 2Gary2

            I guess my point is correct is all you can do is accuse me of GMO food

          • strangerthanfiction

            Wise men speak very differently than you do. Your thinking is childish.

          • 2Gary2

            BTW-the free phone thing was started by Reagan.

          • Gay Veteran

            and who shipped millions of American jobs to China, India, Vietnam, Mexico, etc.?

          • strangerthanfiction

            You would do the same if you were in the awful, competitive game of always having to show the shareholders more & more profit. Yeah it’s a bad business situation, but somehow, you seem to think you are superior and would not succumb under such pressure.

            It’s so easy to just mouth off kneejerk reactions without thinking. Grow up.

          • Gay Veteran

            awwwww, another corporate boot licker

        • strangerthanfiction

          Keep talking. You refute yourself better than anyone else could.

      • 2Gary2

        again you are completely wrong-the war on poverty has been a huge success in reducing poverty. Had not conservatives got in the way and reversed things we would have way less poverty like they do in the more advanced Nordic countries. Even Michael has stated before that poverty would be way worse without the “war on poverty” BTW-war was a bad metaphor as simple minded people like you do not get that that is a metaphor.

      • k

        The devil is in the details. What charities are they giving to?

      • Bubba Johnson

        Nice Post.

      • Scared Economist

        My wife and I run a Food Pantry for the poor. We are Conservatives. Everyone who works at the Pantry is a staunch Conservative.
        The biggest problem we have is the government interference. We get plenty of donations, but the government wants tracked where everything is coming from and to whom everything is going. We have to have names, addresses, phone numbers, and signtures from every person we help.
        We recently had a Liberal Organization that is promoting OBamacare and other government handout programs meet with us and want us to take the time to interview our clients and promote their programs. We politely told them we didn’t have the time but they were free to set up a desk in our Pantry and talk with our visitors. Oh No…. that was outside their required working hours and they don’t want to actually meet with the people themselves. And then they sort of threatened us that further government assistance in the form of USDA food allotments could be tied to how well these programs succeed.

        • 2Gary2

          I also work at the food pantry and have experienced none of what you describe. Most people in the food pantry know that the pantry is needed due to conservatives and they are all liberal. I do not doubt that there are conservatives like you describe. I have never seen them. There is zero government interference in the food pantries I have been involved with.

          I have a hard time believing what you are saying.

          • strangerthanfiction

            Every time we see a post coming from gary, we know something very unintelligent is about to pour forth.

          • Wayne Chipman

            +Lies an inane babble is all that comes from this Qu33r, Conservatives are the ones who run the food banks.

            Liberal’s and Queers cannot understand that normal people do not have the sick thinking patterns that they possess.

          • 2Gary2

            you are 100% wrong. I volunteer at one of the busiest food banks in WI and I can assure you no one is conservative. We signed up over 20 people for Obamacare yesterday.

          • Wayne Chipman

            And you said earlier that Food Banks were not being pressured to sign people up for Obamacare.
            You are a Lying Qu33r Shill, why do you come to this site, to show people how filthy you are maybe.
            Liberal Scum do not help people unless it is with someone else’s time or money. Everyone here except Queer Veteran views you as a lying Qu33r.

          • 2Gary2

            OK there wayne hoss-your incoherent babbling fits the stereotype of the low information conservative very well.

          • The Cuch

            Gary is clueless. Living in a dream world.

      • Gay Veteran

        so why have all these so-called “conservatives” failed to elect conservatives to office?
        and no, tyranny does not always come from the left, or did you ignore all the right-wing dictators throughout history?

        • strangerthanfiction

          You obviously have no filter between mind and mouth.

          • Gay Veteran

            project much?

          • Gene Baugh BBA

            It seems conservatives don’t understand projection. You can tell because they are always doing it.

          • Gay Veteran

            if it walks like a duck and quacks like a duck……

          • Wayne Chipman

            You said it. Gay veteran is as Dumb as a Rock. I am amazed it doesn’t accidentally ingest poison.
            Qu33rs are such stupid filthy creatures.

    • chilller

      I say we take up a collection to get our ADD poster child Gary a spot on the Dr. Phil show.

      • strangerthanfiction

        Better a psychiatrist.

  • Libsare Ajoke

    we are entering the 5th summer of recovery!!!!

  • Libsare Ajoke

    obamacare uber alles

  • david f miller

    Warren Buffet just said:

    “America’s best days lie ahead,” Buffett, 83, said in his annual letter to Berkshire shareholders.

    WHAT? Are we living on the same planet???

    • TtT Engine

      Captain Edward Smith told his passengers aboard the Titanic “not to worry” and the Band played on.

  • Joe

    The more the crisis, the sheep will shout for more government involvement. Then when more government involve, the more power (bloated and less efficient) is transferred to the gov which the individuals have less power and right. The big gov needs more energy to sustain which takes from their middle and lower class people. Powerless sheep have (are forced) to work harder thinking the future is bright promised by the gov. In fact, it is to keep the gov infrastructure alive. Then more crisis occurs, gov becomes even more powerful and so on…

    History repeats

  • Richard

    “In the end, tens of millions of Americans will be absolutely devastated when they get absolutely blindsided by what is coming.”
    You’re starting again, Michael. Lose all the “absolutelys” and other items of hyperbole and let US judge for ourselves how bad this all is. Don’t worry. We can see it. We don’t need coaching.

  • k

    Out -sourcing should be stopped and reversed.

    • Tom_F

      Might as well be talking about ‘gravity’ or the ‘world turning’.

      • k

        Thats the only solution. Short term fixes are available but will only delay the inevitable for a year or two.

  • XSANDIEGOCA

    The three challenges we face in the next three years are: avoiding being attacked, avoiding a financial meltdown, avoiding martial law. It will be dicey. We have largely ceded control of our economy to hostile foreign powers. If China and Russia drop the dollar, the fat will be in the fire. We have long since ceased to live within our means. The Debt we acknowledge and the Debt we do not acknowledge is well North of 100 Trillions. We shall never pay that off because we can not pay it off. Default is the only way out at this point. Obama Care is just beginning to squeeze the economy and will envelope us like a Python. The markets bear no relation to reality. What strikes me is the number of average people I meet who also feel a great sense of unease. Much water cooler talk of impending collapse. Big Gun Show out here this weekend. A number of folk in the office who never had an interest in firearms are planning to go. There is a Disturbance in the Force…

  • Jackie Milton

    This country needs to be so broke that everyone is forced to eat beans and rice. It needs to become a hunter / gatherer society. The productive will survive and the non productive will perish.

    • Choom Gang Leadership

      ….and only then will we be able to restore the founding principles and begin to grow again.

      “We are five days away from fundamentally transforming the United States of America” BHO, 2009

      And the sheople cheered…..sigh

    • k

      Hunt what?

    • sabretooth

      Yeah, I can see it now: Hundreds of thousands of desperate people “hunting and gathering”. Not very realistic.

      • Jackie Milton

        Of course it would not be practical. That was my point. We need a population reduction. The self sufficient will survive.

  • Boo-urns The Wise One

    Been posting the same “predictions” for a couple of years now… nothing happening, but you’re sure generating a ton of ad revenue, aren’t you?

  • Boo-urns The Wise One

    So, youu try to ban me but Gary is still here???

  • Boo-urns The Wise One

    I must’ve pissed off too many of the Jesus freaks and conspiracy theory nutjobs and Republicans-can-do-no-wrong wingnuts.

    • strangerthanfiction

      You are your own most powerful refutation.

      Keep talking!

  • Jane Bobsky

    Actually that might be a GOOD thing. It would force OB and co to stop kicking the debt can down the road.

  • John

    CEO of bitcoin exchange found dead in Singapore

  • Trailer Park Investor

    Like a sledgehammer in the middle of the night, when it crashes it will ALL come tumbling down on our heads.
    YES Prey like it’s the end cause it is

  • sherlock32555

    Remember they said it was going to be a jobless recovery. How did that work for you? This said a lot to me, but the people voted this commie back in for a second time. Now we will start to see our country go down the drain faster than ever before. All I have to say is fall to your knees and pray because he is the only one to save us not the idiots that we voted for.

  • rrgfkdd

    Staples is closing many stores

    • kim

      Staples is overpriced so it is no wonder. I can buy toner on Amazon 30% cheaper than Staples and that is even with the coupons they send.

  • Mondobeyondo

    The last “recession” never really ended. It’s been an ongoing process since 2008. The economy reached rock bottom around mid to late 2009, started to reach its peak and plateau around 2011, and started its downward slide about mid-2012. It’s still headed down.

    Some people may talk about a “double dip recession”, but to me, it’s been one long depression. We are nowhere near “out of the woods”.

  • DJohn1

    Let us call the cards what they are. This is not a recession. This is a depression and it is world wide.
    The competition for business is very dangerous. Radio Shack, J.C. Penney, Sears, and many more stores are all not very competitive as far as prices are concerned. I went through a Best Buy in the last month and I was surprised and shocked at the prices in the store.
    In an economy where wages go up in response to inflation this might even work. Where jobs are lost and wages go down, the higher prices are a guarantee of bankruptcy.
    One indicator is the price of a commodity. In this case I refer to lumber. It is up quite a bit from last year. The year before this it also was up. Lumber is what makes construction of houses either go up or down. There are too many older homes for new construction to work on anything but a small percentage of the population right now.
    This is really a chain reaction.
    I figure that within the next 4 to 6 months we will see it all come tumbling down. The people in government in charge just don’t get it.
    The gravy train has run out of fuel. The expenditures far out weigh the income that our government is able to generate.
    So, I agree with what you say, Michael, and I expect it will come crashing down just before the election in the fall.

    • k

      It is because of commodity futures trading. Most regulations have been lifted and speculators can relatively easily jack up prices and book a profit. All commodities… ores, raw materials, metals, grains, fuel etc commodity markets have seen rapidly increased prices (far more than increased consumption can account for) the world over, because of this.

  • Brian in Chile

    Recession? What turnip cart did this author fall off? We have been in a full scale depression for at least four years now. Real unemployment is at Great Depression levels of over 22%. You don’t see the soup lines because we have SNAP cards. That is the only difference between then and now.

  • Wally

    We are all being setup for poverty. In the very near future we will be Mexico. Sure there will be factories and some stores and such but the standard of living is going to be almost third world. There are 50 M + on food stamps and 100 M + on some sort of gov’t pay whether that is Social Security or Vet Payments. IT IS UNSUSTAINABLE! What happens when those payments stop? It will instantly put half the population in poverty to extreme poverty in addition to those that are already there we are completely screwed. I think millions will die. The middle class or former middle class have little or no experience or knowledge on how to survive. 30 days or 60 days with no money and no food hitting the markets it will mean pure chaos.

  • thedevil

    Solid writing here, Mike. Love the picture at the end, and that line about January being the 4th warmest winter on record. That little factoid really needs to be discussed more, as it shatters this “blame the weather” narrative.

    • BitCoinBuyer

      Just more lies from the NY Slimes.

      Of course, the Great Lakes freeze over due to warmth……for the first time in 30 years. Must be due to record warmth……/sarc

  • 2Gary2

    Myths of the United States:
    - Individualism – the land where you
    are an individual as long as you wear Levi’s jeans. US culture has more
    conformity than most countries.

    - The best rise to the top – nope, life in the US has little to do
    with what you know and a hell of a lot to do about who you know.
    Organizational rot is seen in companies and government agencies
    throughout the land, as incompetent line managers protect their own turf
    by stacking the decks with others who pose no threat to them.

    - Everyone is born equal – do we really need to explore this one, its
    obvious that some are born a hell of a lot more equal than others.
    That advantage by the upper middle class and rich has grown as the war
    on the middle class and poor has taken hold since the 1980s.

    • kim

      I agree with Gary on this. For the most part this country is ripe with nepotism and the like. People suck and conformity is encouraged while individuality is ridiculed. Although I have to say this is NOT limited to just the US. This is the case all over the world.

      Yes there are many companies also that have horrible management and top level managers really are scared that their jobs will be taken by a more competent underling and do everything they can to make that happen.

      Seems like our culture is one based on fear at times because we are all just a few paychecks away from unemployment.

    • ConcernedAmerican

      Individualism is punished in the USA, from what I see. Those that do not fit in often cannot even find a job to support themselves.

      Many people seem to enjoy thinking they are better, smarter, and more deserving than others. Yet, these same people often claim to be Christians and claim to serve a God that says He is no respector of persons.

      I agree with you. Good points.

  • Gay Veteran

    AND characterizing the Republicans as some viable alternative to the Democrats who are out there battling for the working class is idiocy.

  • Lexxs

    A tidal wave of trouble is headed directly toward much of the population right now. Many of those that survived the last recession will be demolished by this next one.

  • Copperhead Joe

    The phrase “could care less” causes anything you subsequently say to be dismissed by any sophisticated person. It is a tag – an identifier of midwittery. How can you read thousands of comments on the internet and not understand this?

  • Lars Lonte

    This time it is serios – Indeed, the Crash will Come! Economic Collapse http://www.usdeception.com/vsl/index.php

  • strangerthanfiction

    Stuck on stupid.
    God help you, Gary.

  • http://randyfound.wordpress.com/ RandyFound

    This country is too far gone on too many levels to be saved economically. The markets are rigged, economic data is fake, corruption is rampant.

  • Ben

    Why l plan on buying farmland.

    • FirstGarden

      Hey, save a little land for us. :.)

  • FirstGarden

    The truth is, we have been CONTAINING A DEPRESSION since around 2005-6. Some would argue that we have been doing so since the 90s.

    But Wall Street Casino will soon be bust. In 1929, the financial collapse was followed by an economic collapse. Only today, the G o v t is very proactive in keeping the great Ponzi scheme going. First, one major event, or a series of events will occur, triggering a bear market.

    Imagine that, two Bears at once — the Bear Market and the Russian Bear. Somehow it may be well suspected that one Bear will seize the moment when the other Bear appears, and join together in our downfall. Just a thought.

    Then Investor Confidence will bottom out, leading to the greatest Speculative Bubble in history to finally burst.
    After that, watch out!

    It’s not just a matter of Time, but a matter of Temperature.

  • Gene Baugh BBA

    This Depression started 14 years ago in 2000 and so many of you are still saying “It’s going to hit any minute!” You keep waiting and waiting. Well I say “Wake Up!” it’s here already, it’s been here fourteen years.
    Worst case scenario we have one more bad dip coming and in three more years it will be over and you will have missed it because it did not fit your ‘vision’ of what it should have been like.
    The day will come soon when it is ‘Onward and Upward’ for the rest of our lifetimes and our children’s lifetimes. And many of you will still be waiting for it to start!
    It’s just a Depression. Not the first, not the last.

  • FirstGarden

    It’s time for yet another vacation, and a bonus for all the CEOs.

    • RICHARD RALPH ROEHL

      Yesssssssss… I recommend a vacation to Somalia. A fat cat could feed a lot of people there.

  • lastfatalhour

    The U.N. is what will cause desolation to religion- remember, the kings of the earth will give their power to the beast that “was but then was not, but then came again”, that is, the league of nations who re-formed as the united nations. Bugging IN is def the best option for most of us btw. Bug out is the absolute last option. None of this will be glorious. We are not Klingons who will find honor in battle. People will die. Children will die. Animals will die. The eventual collapse will be horrific. The bible tells us so.

  • TheTruth

    Well the truth is the globalist wont kill the dollar (part of the nwo plan) until they figure out hoe to transition the petro-dollar

  • Dennis Richardson

    America can survive, there is no chance that Barack Obama will survive before the Throne of the Most High. Israel’s Great Benefactor will take down the usurper and narcissist called Obummer.

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