Guest Post by David Haggith
This graph by 720Global shows how spot on my pronouncement of a US 2016 recession is. In spite of the lack of any official declaration by the US government or its economic priesthood, I’ve stated more than once in 2016 that the US is already in recession. Several interesting observations can be made from this graph:
Continue reading “This graph says it all — US 2016 Recession Already Here!”
Guest Post by David Haggith
An economic apocalypse upon us. My 2016 economic predictions provide the full explanation as to why 2016 will be the year of the Epocalypse — a word that encompasses the roots “economic, epoch, collapse” and “apocalypse.” I needed a word big enough to describe all that is about to befall the world in 2016. When you see the towering forces that are prevailing against failing global economic architecture and the pit of debt beneath that structure, as laid out here, I think you’ll recognize that the Epocalypse is here, and it is everywhere. The Great Collapse has already begun.
What follows are the megatrends that will increasingly gang up in the first part of 2016 to stomp the deeply flawed global economy down into its own hole of debt. The economic collapse that is already developing includes the US economy and the US stock market that is now collapsing from the external forces and internal vacuum that I’ve been writing about for a few years here.
Continue reading “2016 Economic Predictions: Year of the Epocalypse”
Guest Post by David Haggith at The Great Reecession Blog
![By Guy Sie (Flickr: Seven Deadly Sins - Greed) [CC BY-SA 2.0 (http://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons](http://thegreatrecession.info/blog/wp-content/uploads/Greed-500x354.jpg)
It’s a good question to ask on the day after Christmas, when we have all used our credit cards to buy gifts for others. In spite of this seasonal gift buying, I think there has never been a more selfish generation. (Regular readers of this blog are excepted because you wouldn’t be reading this contrarian blog if you were content with what I am about to describe … as others seem to be. So, I am preaching to the choir but can only hope this strengthens the choir’s resolve to stand against corruption and greed.)
Continue reading “Has there ever been a more selfish generation?”
Guest Post by David Haggith
![From an epocalypse of another time By Dorothea Lange, Farm Security Administration / Office of War Information / Office of Emergency Management / Resettlement Administration [Public domain], via Wikimedia Commons](http://thegreatrecession.info/blog/wp-content/uploads/MigrantMotherAndChildren-e1450681546865.jpg)
When I predicted the economic apocalypse would begin for the US this month, I said the stock market would rise euphorically after the Fed raised its interest target. Rise it did. Steeply, too. I also said it would fall shortly after. Fall it did. Quickly, too. Now I’m saying the Epocalypse is here.
Just as I stated that “the rate at which the market goes up now is a measurement of pure euphoria,” by the same token, how quickly that euphoria falls off indicates just how far down the downside is. If you have ever floated in the ocean and felt yourself unexpectedly drop way down with the water, you know that means a huge wave is coming up right behind you.
“Particularly watch out,” I warned, “if the euphoria cools quickly because, after more than a year of concern over what would happen when stimulus ended, there is a lot of relief the bulls would like to celebrate. If the euphoria cools quickly, it’s likely to mean things are ready to go down hard and fast.”
While I said in my last article, “Their party could last for days or end tomorrow,” I actually anticipated the euphoric rise in the stock market would last several days, given how long investors feared what might happen when the Fed raised rates and how relieved they’d be that the sky didn’t fall that day … and how persistent they have been in taking bad news as good news.
That the market turned so quickly on itself is a strong indication of how different the Epocalypse will be compared to previous Fed tightenings following previous recessions where the revelry over recovery lasted longer. For such a long “recovery” out of such a deep hole, the celebration sure was short!
Continue reading “Epocalypse Now: The Economic Apocalypse is Here”