by Andrew Bieszad In the words of the 1970s band Bachman-Turner Overdrive, “You ain’t seen nothin’ yet.” While the above phrase may be a song lyric, it is very relevant to the current situation with the economy, for as poverty increases and COVID-19 forces the economy closed, the chief economist for Moody’s has declared that a […]
U.S. retail sales fell at a record pace in March, with many retail categories seeing jaw-dropping declines. And economists are scrambling to find the right words to illustrate the rapid deterioration of the U.S. economy, as the world attempts to deal with the deadly coronavirus pandemic. On top of this, the Small Business Bailout Fund is expected […]
Earlier reported on Zero Hedge in a report titled “the lamps are going out all across the economy”, JPMorgan’s chief US economist, Michael Feroli slashed his Q2 US GDP forecast to a staggering -14%, which he optimistically expects to form the bottom of a V-shaped recovery that then lifts the US economy by +8% and +4% in […]
Capitalism did not cause the Great Depression. The Great Depression was something that the government did to capitalism. (The great Recession, too.) We had the Federal Reserve and monetary experts running the system under the belief that we need to maintain a stable value of money. This was achieved by keeping consumer product prices stable. […]
Once South America’s richest country, Venezuela implemented a socialist agenda. Now people are starving to death. Venezuela’s inflation, estimated by the International Monetary Fund to reach 720% in 2017, is the highest in the world. The economy has shrunk 27% since 2013, according to local investment bank Torino Capital; imports of food have plummeted 70%. […]
The numbers are in and after seven years of Obamanomics the economic climate in America is “worse than the depression.” By Jim Hoft * Barack Obama is also the first president on record to not see a single year of 3% GDP growth. The latest quarterly GDP rate was 1.1 percent. NPR reported: At 4.9 percent, […]
by Tyler Durden One month ago, we said that “it is not looking good for the US housing market”, when in the latest red flag for the US luxury real estate market, we reported that sales in the Hamptons plunged by half and home prices fell sharply in the second quarter in the ultra-wealthy enclave, […]
by Tyler Durden Authored by Todd Buchholz, originally posted op-ed at MarketWatch.com, Nations are just as likely to unravel after periods of prosperity as after periods of depression Have you ever met an Ottoman? Or a Habsburg? Neither have I. Like a chopped-up Magritte painting, all that is left of the Habsburgs is a homburg […]
Rogers Holdings Chairman Jim Rogers is certain that the U.S. economy will be in recession in the next 12 months. During an interview on Bloomberg TV with Guy Johnson, the famous investor said that there was a 100 percent probability that the U.S. economy would be in a downturn within one year. “It’s been seven years, eight […]
By Greg Hunter’s from USAWatchdog.com Money manager Michael Pento says the next crash will be one for the record books. Pento contends, “If you look at any of the economic data coming out, it screams recession. It will be one of the worst recessions since 2008 and 1929—combined.” This is a description of a global […]
