Peter on the left.
Posted on 09/24/2018 7:50:02 AM PDT by EdnaMode
Ten years ago, it was too-easy credit that brought financial markets to their knees. Today, it could be a global debt of $247 trillion that causes the next crash.
After a decade of escalating US household debt brought on by low wages and the national debt more than doubling over the same time frame, to $21 trillion, debt could soon put the brakes on this economic recovery, analysts warn.
“We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years,” said Murray Gunn, head of global research at Elliott Wave International.
And in a note, he added: “Should the [US] economy start to shrink, and our analysis suggests that it will, the high nominal levels of debt will instantly become a very big issue.”
[snip]
“We won’t be able to call it a recession, it’s going to be worse than the Great Depression,” said economic commentator Peter Schiff, forecasting a major economic downturn as early as the tail end of the Trump presidency’s first term. “The US economy is in so much worse shape than it was a decade ago.”
(Excerpt) Read more at nypost.com ...
Yes, and that’s the irony.
PR should be a resort paradise. Why it isn’t astounds me.
There should be high rise resorts from one end of that island to another. Land should be at a premium.
There should be absolutely no unemployment and they would have to import workers from the mainland.
They people of PR should rise up in righteous anger and throw out their corrupt DEM government that has robbed them of their potential....................
Since nobody on the planet wants that, we’ll just go on printing Monopoly Money and gladly accepting it for as far into the future as the eye can see.
“We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years,” said Murray Gunn,
head of global research at Elliott Wave International.
And in a note, he added: “Should the [US] economy start to shrink, and our analysis suggests that it will,
the high nominal levels of debt will instantly become a very big issue.”
The time for prepping is before any crisis, not after it arrives !
Prepping takes the fear out of uncertain times !
Elliott Wave??? Whatever happened to Robert Prector of Gainesville, Georgia? Elliott Wave looks at charts of the Great Depression and claims that the future looks exactly like the past. And that there is nothing new under the sun. And that nothing new will ever happen.
The time for prepping is before any crisis, not after it arrives !
Prepping takes the fear out of uncertain times !
><
Bullseye!
They want this to happen because they hate Trump.
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Probably true. But increasing interest rates will put pressure on our astonishingly high government, state, business and consumer debt. I think rising rates are a big threat.
Not sure how resilient our “new economy” will be when consumers are faced with shrinking disposable income. There are a lot of businesses now that produce faddish products and services that will suffer. What this could lead to, who knows?
Not saying a depression is imminent. Just think a serious downturn/recession is possible and it could be a mess. We have also been in a prolonged bull market. That’s another thing to keep a close eye on.
The time for prepping is before any crisis, not after it arrives !
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Good advice. Interest rates have been kept low for a very long time which has encouraged massive amounts of borrowing.
Good idea to offload as much debt as possible. Just in case.
The crash depends on what position the moon is and whether we have a planetary alignment that increases the moon’s tidal force that affects the brain CSF causing rapid swings of intra-cerebral pressure on the human cortex, especially sensitive centers affecting emotion and memory such as the amygdala and hippocampus.
A stopped clock is only right 2X a day. But eventually it is right.
Peter on the left.
...and yet, they don’t.
Uncle Sam pays their way through life.
I would ALWAYS recommend being prepared for a disaster or economic downturn. In good times, use any “extra” money to pay off debts, put up food and supplies, and repair vehicles, house, generator, garden, etc. Acquire firearms, ammunition, barter items, etc. Work on getting healthy - get any needed surgeries, medications, braces, first aid kit, water filtration, etc.
So that when a disaster or economic downturn does hit, you have a pad against the pain or longevity of the downturn in fortunes.
Crash or no crash, you ought to prep on at least a basic level for any one of a variety of contingencies.
Thank you, TIK!
Of course, right when we’re eating down the freezer and pantry. About 1/3 down on the freezer. Not going to worry about shtf under Trump as I was during the previous 8 years.
“Prepping takes the fear out of uncertain times !”
Seems to me some preppers live in constant fear of uncertain times. So much so that they reorganize their lives around it. Then, having invested so much in it, they are actually hoping for it. Meanwhile you can miss out on a lot of living.
That said, I’m all for reasonable preparation, but you can’t really isolate yourself from teotwawki.
I follow the financial news fairly closely. There has been a stark contrast in financial reporting since Trump was elected.
During the Obama debacle the financial press was always on the edge of their seat that the tiniest, slightest action portended great, great things for the economy, which was moribund for all 8 years of Obama. Once Trump got elected it is a near daily dose of why the stock market is on the edge of collapse, a down turn, or something worse than 1929.
We all recall the operative word of the financial press under Obama was the term, “unexpected”, as in: Obama’s economy is fantastic! Therefore, the fact that unemployment, food stamps and disability are through the roof is... unexpected.
Now with Trump, the hobgoblins are always warning about the impending financial catastrophe. As if they are intentionally trying their hardest to wreck the economy, at least enough to damage Trump and Republicans.
List of recessions in the United States
https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States
I like to point this list out when somebody uses Great Depression hyperbole.
It always ends the same way. Always.
I can pretend it’s not true. But that wouldn’t matter.
Obama and W Bush gave us record deficits. It’s just a matter of time.
Regarding the mid-terms, the Democrats regaining power would have an immediate and adverse effect on the stock market. That alone could cripple some of the economy. Just one more motivation to keep these trouble-makers out of office.
Democrats have been putting out negative stories about the Markets for weeks. They want it to crash before the midterms. Guess the whoremonger on HBO isn’t the only one who’d like to see it crash so democrats can get their power back...
These people - democrats - really are that horrible... they would hurt all of us to get power back.
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