It is even worse out there than these examples.
But instead of dealing with reality, there are a lot of irrational optimists that insist that things will start bouncing back any day now. For instance, CNBC is reporting that Goldman Sachs is forecasting that the S&P 500 will end up finishing the year back at 2,100...
Yeah, right.
The big banks are also shedding thousands of employees.
That is a very ominous sign.
It’s worse. First the banks got $1 trillion in bailouts for a problem caused by government.
Then the FED prints money (to hell with their words like quantitative easining) and “loans” it at zero interest to these same banks thinking they’ll loan that money and make money thus increasing consumerism. Typical commie thinking.
Instead the banks are shoring themselves back up, dumping the crap assets they were forced to take on, and the economy shrinks.
So now the FED is slowing down with the free newly printed money, which was inevitable, and the cost is bearing down (no pun intended) on the markets.
It’s then a little panic and evenutally a correction. But it takes a lot of time.
If only the government would just let the markets alone.
The most ominous sign is the number of new business startups has been running below the number of small business closures for several years. Small business employs most people in the private sector.
A bank employee was just telling me last Thursday that people's savings are being depleted very noticeably this last year or they are pulling their savings out of their banks. She said this is is happening at an accelerating rate this year mire so than any year she has worked there.
Something is up.