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You may not see it yet, but the scale of the retail apocalypse is so massive that it is about to engulf the US economy. As when a flood tide has crept around you on all sides while you were standing on a high spot out on the flats, not paying attention, you can look […]
The following is not simply a list of negative risks to the economy but a list of of serious economic conditions that are already placing drought-like pressures on the overall economy. This list doesn’t include the long-term structural problems with the economy, such as its high debt burden, but just the forces that have risen against it this year.
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 […]
Even the Tweedledumbs of Wall Street are finally catching on to the fact that global economic collapse is happening all around them. Two weeks ago, they could have stood inside the building shown on the left with their nicely polished, rose-colored glasses and seen only signs of an improving housing market. Now enough shingles are falling on their […]
When you look at numerous key sectors of the economy, they hang together like the bones of a rickety skeleton. Here is a list in bullet points of some economic bones to pick over. When viewed altogether, they indicate the next dip of the Great Recession is likely near and severe: “There are more obvious light switches today or […]
My Economic Forecast for 2014 tracks solidly on target, event after event. Japan’s economy experienced a massive contraction in the second quarter according to revised figures that are worse than former dismal estimates. In my “Economic Forecast 2014,” I wrote: On the other side of the storm brewing in the China Sea stands Japan, whose economy is faltering again. Abenomics (the ultimate […]
The Central Bank of Ireland is launching a €1 million campaign to create a cashless society in Ireland. The Central Bank on Dublin’s Dame Street is hoping to persuade all of the Irish to surrender their cash forever, and they’re using the current Irish economic troubles as a ripe opportunity to turn that corner on cash. […]
The stock market holds firm to its bullish trend during an onslaught of mediocre to bad economic news headlines because most investors are investment banks, betting that bad economic news means the Fed will deposit within those same banks more free money, which will fuel the stock market until the money is fully invested. The […]
This week’s collection of economic news articles strongly reinforces my predictions earlier in the year that Iran will not back down from its nuclear program and that an Iran war will play a significant economic role in 2012 (with both the economic impacts of rising oil costs and the cost of war being added to […]
Economic news of the past week reported that the U.S. drought was upgraded to being the worst in half a century • Obama isn’t going to be able to fix that in time for the election • The eurozone continued falling apart at the seams • The Persian Gulf looks more and more like its moving […]
China brings its big bird in for an easing landing • Europe founders in the doldrums of its own making • The early-winter warmth that appeared to thaw the U.S. economy has turned into an economic drought • while Iran keeps the heat on from the Middle East.
If the Eurozone’s leaders walked away from their summit thinking they had accomplished some bold plan that would start to solve their problems, they’d better get out some starting fluid to accelerate the start of their plan. Old political realities reappeared in economic news articles the next week like Hydra’s heads to bite off every […]
How long was it after Italy’s PM, Mario Monti announced that the euro crisis was “almost over” until it became a bigger crisis than ever? Within a month he found himself embroiled in the battle of his career against “Frau Nein,” Germany’s Chancellor Merkel, as the world watched the daily economic news articles out of […]
Greece came together and fell apart in the same week; Spain went into free-fall; Germany’s Merkel dithered as if she owns time, itself … all while U.S. politicians did nothing but complain and campaign. While politicians all over the world could not agree on solutions, many of the world’s largest banks were substantially downgraded. […]