JP Morgan And Citigroup Agree That The U.S. Economy Is Steamrolling Toward A Recession

Locomotive - Public DomainAs we approach the end of 2015, researchers at both JP Morgan and Citigroup agree that the probability that the U.S. economy will soon plunge into recession is rising.  Just last week, a member of the U.S. House of Representatives asked Janet Yellen about Citigroup’s assessment that there is a 65 percent chance that the United States will experience an economic recession in 2016.  You can read her answer below.  And just a few days ago, JP Morgan economists Michael Feroli, Daniel Silver, Jesse Edgerton, and Robert Mellman released a report in which they declared that “the probability of recession within three years” has risen to “an eye-catching 76%”… (Read More...)

Add 2 More Attacks To The List As The Year End Explosion Of Islamic Terror Continues

Terror - Public DomainDoesn’t it seem like there is another Islamic terror attack somewhere in the world almost every day now?  Today, there was a throat slashing at a subway station in London, and three female suicide bombers carried out a devastating attack in Chad that killed at least 27 and injured at least 90.  Inspired by the success of ISIS, radical Islamists all over the planet are rising up and striking vulnerable targets.  According to Wikipedia, there have been dozens of terror attacks worldwide so far this year, and the recent attacks in Paris and San Bernardino were some of the biggest news stories of 2015.  Unfortunately, I believe that this is just the beginning.  I am fully convinced that the seeds of terror that have been planted up until now will produce an increasingly bitter harvest as we head into 2016 and beyond. (Read More...)

27 Major Global Stocks Markets That Have Already Crashed By Double Digit Percentages In 2015

Earth Globe - Public DomainAnyone that tries to tell you that a global financial crisis is not happening is not being honest with you.  Right now, there are 27 major global stock markets that have declined by double digit percentages from their peaks earlier this year.  And this is truly a global phenomenon – we have seen stock market crashes in Asia, Europe, South America, Africa and the Middle East.  But because U.S. stocks are only down less than a thousand points from the peak earlier this year, most Americans seem to think that everything is just fine. (Read More...)

Alarm Bells Go Off As 11 Critical Indicators Scream The Global Economic Crisis Is Getting Deeper

Alarm Clock - Public DomainEconomic activity is slowing down all over the planet, and a whole host of signs are indicating that we are essentially exactly where we were just prior to the great stock market crash of 2008.  Yesterday, I explained that the economies of Japan, Brazil, Canada and Russia are all in recession.  Today, I am mainly going to focus on the United States.  We are seeing so many things happen right now that we have not seen since 2008 and 2009.  In so many ways, it is almost as if we are watching an eerie replay of what happened the last time around, and yet most of the “experts” still appear to be oblivious to what is going on.  If you were to make up a checklist of all of the things that you would expect to see just before a major stock market crash, virtually all of them are happening right now.  The following are 11 critical indicators that are absolutely screaming that the global economic crisis is getting deeper… (Read More...)

Global Crisis: Goldman Sachs Says That Brazil Has Plunged Into ‘An Outright Depression’

Global RecessionOne of the most important banks in the western world says that the 7th largest economy on the entire planet has entered a full-blown economic depression.  Brazil’s economy has now contracted for three quarters in a row, and many analysts believe that things are going to get far worse before they have a chance to get any better.  Earlier this year, I warned about “the South American financial crisis of 2015“, and now it is in full swing.  The surging U.S. dollar is absolutely crushing emerging markets such as Brazil, and if the Fed raises interest rates this month that is going to make the pain even worse.  The global financial system is more interconnected than ever before, and the decisions made by the Federal Reserve truly do have global consequences.  So much of the “hot money” that was created by the Fed poured into emerging markets such as Brazil during the good times, but now the process is starting to reverse itself.  At this point, it is hard to see how much of South America is going to avoid a complete and total economic disaster. (Read More...)

World War III Draws Closer As Russia Accuses Turkey Of Being ‘Secret Allies’ With ISIS

2S19 Msta-S - Photo from Wikimedia CommonsAre Russia and Turkey on the verge of going to war?  In remarks that were almost entirely ignored by the western media, Russian Foreign Minister Sergey Lavrov accused the Turkish government of being “secret allies” with ISIS on Friday.  And on Monday, the Russians announced that they would be attempting to seal the border between Syria and Turkey, and we also learned that the Russians have been rushing heavy artillery units into Syria.  As tensions between Russia and Turkey continue to escalate, could we be in danger of seeing World War III erupt in the Middle East? (Read More...)

The Bizarre Explanation For Why The U.S. Has Avoided Bombing ISIS Oil Wells

What - Public DomainWhy hasn’t the U.S. bombed the oil wells that ISIS controls into oblivion by now?  Would you believe that it is because the Obama administration “didn’t want to do environmental damage”?  Former Deputy Director of the CIA Michael Morell has publicly admitted that we have purposely avoided damaging the main source of income for ISIS, and his explanation for why we were doing this is utterly bizarre.  But at this point what could the Obama administration say that would actually make sense?  Everyone now knows that ISIS has been making hundreds of millions of dollars selling oil in Turkey, and that this has been done with the full knowledge and complicity of the Obama White House.  This is potentially the biggest scandal of the entire Obama presidency, and yet so far the Republicans have not jumped on it. (Read More...)

Do You Remember When Black Friday Actually Still Mattered In America?

Bored - Public DomainOnce upon a time, “Black Friday” was a major event in the United States.  Yes, the mainstream media is still endlessly hyping it up, and major retailers are still rolling out their “incredible deals”, but it appears that most Americans are tiring of this particular gimmick.  Or perhaps it is just that U.S. consumers don’t have as much discretionary income as they once did.  As you will see below, retail traffic this Black Friday was “much, much slower” than anticipated.  And expectations were not great anyway – the number of shoppers was down last year, and it was being projected that there would be another decline in 2015.  Yes, there were still a few fights on Black Friday, but mostly the “holiday” was marked by giant piles of unsold merchandise sitting around collecting dust.  The inventory to sales ratio in the U.S. has surged to levels not seen since the last recession, and so the truth is that most retailers were hoping for much more contrived chaos on Black Friday than we actually witnessed. (Read More...)

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