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Headwinds that are starting to assail deep structural flaws in the US and global economies form the basis for my 2017 economic forecast, which looks like an all-out economic crisis building throughout the world. Some of these headwinds are global; some more locally focused within the United States, but that which brings down the US economy wounds the world anyway. […]
Europeans must have been delighted to discover that one thing is working as well as it has since the start of the Great Recession. Behemoth banks that are failing are still able to pay their Christmas bonuses to their top executives and give nice dividends to their shareholders thanks to Super Mario Draghi.
The developing Epocalypse will become the super-volcano of economic history, and this week revealed cracks in the surface that give hints of the eruption to come. It was a week of crumbling throughout global stock markets that has challenged records. Thursday, Hong Kong stocks suffered their worst start of a Chinese New Year since 1994 in […]
This year, I predicted that Greece would default on its debt, that it would strike a deal with its european counterparts in the Eurozone, that the deal would lead to public riots later in the year, which would lead to Greece again facing a Grexit in the fall, and that Greece would ultimately leave the euro this […]
The deal force-fed to Greece by the Germans guarantees Grexit 2015. Look at all that this deal has embedded into its terms, and you’ll see how a Grexit is now assured. This new eurodeal creates all the chemistry necessary for an explosion. Yet, the stock markets rose today because people are excited that, at last, a deal is […]
Granted, global economic collapse can’t be declared as a fact yet, but train wrecks take time. A train doesn’t just crash like a car; it keeps crashing, piling car upon car, banging, tearing out trees, bending steel, plowing up rails, smashing buildings … until all the momentum is finally exhausted to the last squeak. It didn’t take […]
Stock Market Euphoric Over Ongoing Recovery from Great Recession; Credit Ratings Indicate Ongoing Crash into Great Depression. Which is it?
Today’s news gave rise to outspoken hopes that the Great Recession is ending … again. This seems to have the whole world excited, except me. The stock market is soaring this morning as the U.S. Federal Reserve and the European Central Bank announced an agreement to loan U.S. money to European banks at lower rates. Jobs […]
Look at what happened while I was out to play! Here I was openly wondering, as I set off for a vacation, if my prediction was going to prove accurate about the European crisis going global sometime in October and taking the U.S. economy under. While I was on vacation, I deliberately avoided all news. […]
Well, the German fat lady (Chancellor Angela Merkel) did sing, but her song rang hollow, and she was unable to sustain the final note. That’s because Greek Prime Minister George Papandreuo, gave her a sucker punch during her final note. Papandreuo suddenly switched his part from leading man to playing the fool by doing something […]
I warned in an article posted here two days ago that the plan for the European Economic Crisis left a lot to be desired and that market enthusiasm for the plan, as it sent the market into convulsions, was as meaningless as … well, sex in a whorehouse. Such euphoria is just what happens there. […]
We have seen it many times before in the last couple of years: dark weeks of gloomy economic news day after day — nothing actually fixed in the economy — yet suddenly the bulls explode into the marketplace over a mere glint of sunlight. We have particularly seen the running of the bulls with respect […]