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These New Numbers Are Telling Us That The Global Economic Slowdown Is Far More Advanced Than We Thought

Michael Snyder
January 15th, 2019
The Economic Collapse
Comments (43)
Read by 4,121 people
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This article was originally published by Michael Snyder at The Economic Collapse

We continue to get more confirmation that the global economy is slowing down substantially. On Monday, it was China’s turn to surprise analysts, and the numbers that they just released are absolutely stunning. When Chinese imports and exports are both expanding, that is a clear sign that the global economy is running on all cylinders, but when both of them are contracting that is an indication that huge trouble is ahead. And the experts were certainly anticipating substantial increases in both categories in December, but instead there were huge declines. There is no possible way to spin these numbers to make them look good…

Data from China showed imports fell 7.6 percent year-on-year in December while analysts had predicted a 5-percent rise. Exports dropped 4.4 percent, confounding expectations for a 3-percent gain.

China now accounts for more total global trade than the United States does, and the fact that the numbers for the global economy’s number one trade hub are falling this dramatically is a major warning sign.

And of course it isn’t just China that is experiencing trouble. In fact, we just witnessed the worst industrial output numbers in Europe “in nearly three years”

Adding to the gloom were weak industrial output numbers from the euro zone, which showed the largest fall in nearly three years.

Softening demand has been felt around the world, with sales of goods ranging from iPhones to automobiles slowing, prompting profit warnings from Apple among others.

If we were headed for a major global recession, these are exactly the types of news stories that we would expect to see.

We also continue to get more indications that the U.S. economy is slowing down significantly. For example, sales of new homes in the U.S. were down 19 percent in November and 18 percent in December

Sales of newly built homes fell 18 percent in December compared with December of 2017, according to data compiled by John Burns Real Estate Consulting, a California-based housing research and analytics firm.

Due to the partial government shutdown, official government figures on home sales for November and December have not been released.

Sales were also down a steep 19 percent annually in November, according to JBRC’s analysts.

Those are horrific numbers, and they are very reminiscent of what we witnessed back in 2008.

And we also just learned that employers are cutting back on hiring new college grads for the first time in eight years

new report from the National Association of Colleges and Employers (NACE) shows that for the first time in eight years, managers are pulling back the reins on hiring college grads, with a projected 1.3 percent decrease from last year. Additionally, a survey from Monster.com found that of 350 college students polled, 75 percent don’t have a job lined up yet.

I feel really bad for those that are getting ready to graduate from college, because I know what it is like to graduate in the middle of an economic downturn. At the time, many of my friends took whatever jobs they possibly could, and some of them never really got on the right track after that.

But the economic environment that is ahead will be much worse than any of the minor recessions that the U.S. has experienced in the past, and that means things are going to be extremely tough for our college graduates. And the total amount of student loan debt in this country has roughly tripled over the last decade, and so a lot of these young people are going to enter the real world with crippling amounts of debt but without the good jobs that they were promised would be there upon graduation.

As economic conditions have begun to deteriorate, I have had more people begin to ask me about what they can do to get prepared for what is coming. And I always start off by telling them the exact same thing. Today, 78 percent of Americans are living paycheck to paycheck, but when an economic downturn strikes that is precisely what you do not want to be doing.

Some people that I hear from insist that there is no possible way that they can put together an emergency fund because they are already spending everything that they are bringing in.

And yes, it is true that there are some people out there that are so financially stretched that they literally do not have a single penny to spare even though they are being extremely frugal, but the majority of us definitely have areas where we can cut back.

I realize that “cutting back” does not sound fun. But not being able to pay your mortgage when things get really bad will be a whole lot less fun.

Right now people should be focusing on reducing expenses and trying to make some extra money. Use whatever time we have left before things get really bad to put yourself into a better financial position. If you have at least a little bit of money to fall back on, it will make your life much less stressful in the long run.

In addition, anything that you can do to become more independent of the system is a good thing. On a very basic level, learning to grow a garden can end up saving you a ton of money. I was just at the grocery store earlier today, and food is getting really expensive. When the Federal Reserve says that we are in a “low inflation” environment, I always wonder what world they are living on.

When I got up to the register today, I almost felt like they were going to ask me what organ I wanted to donate in order to pay for my groceries. Unfortunately, the price of food right now is actually quite low compared to what it is going to be in the days ahead.

So I guess I shouldn’t complain too much.

I think that I have just been in a foul mood all day ever since I came across Gillette’s new “toxic masculinity” ad. I will have quite a bit to say about that ad later this evening on EndOfTheAmericanDream.com.

Ladies and gentlemen, 2019 is off to quite a rough start, and things are likely to get a whole lot rougher.

As always, let us hope for the best, but let us also get prepared for the worst.

***

Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

GetPreparedNow-MichaelSnyderBarbaraFixMichael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream

If you want to know what is coming and what you can do to prepare, read his latest book Get Prepared Now!: Why A Great Crisis Is Coming.

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Author: Michael Snyder
Views: Read by 4,121 people
Date: January 15th, 2019
Website: http://theeconomiccollapseblog.com/

Copyright Information: This content has been contributed to SHTFplan by a third-party or has been republished with permission from the author. Please contact the author directly for republishing information.

43 Comments...

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  1. Justice says:

    I heard that: “When I got up to the register today, I almost felt like they were going to ask me what organ I wanted to donate in order to pay for my groceries. Unfortunately, the price of food right now is actually quite low compared to what it is going to be in the days ahead.”

    I forgo a lot of things I would like to buy or do, in order to prepare for the hard times ahead. I cannot imagine how hard it would be to watch loved ones die from starvation. Or not be able to protect them from harm from criminals!

    • rellik says:

      Justice,
      I run a very strict budget. I know using Safeway local flyers
      that our food costs are ~25% higher than a fairly pricey Oregon
      Safeway. We don’t generally shop Safeway, but they are easy to compare state to state to compare apple to apples.
      My monthly budget for consumables is $1000. All foods, liquids, OTC medicines, house hold goodies( TP, towels, paper plates cleaners, water filters, et al), that includes animals( cattle, Mule, Donkey, dogs, and cats), chickens food, treats, and their medicines.
      That amount has stayed fair constant for the last 10 years, as we adjust to the market. Where I used to buy Roman meal bread, I now mill my own flour and make my own “heavy” red wheat bread. Two days ago I bought a #12 Yellow fin fresh caught tuna( Ahi) for $20( it is good to know people). I gave my friend #2 of banana chips(we grow and make our own)as a tip. Fresh, Sushi quality, Ahi, here is over $20 a pound.
      We spend a lot money on food. I view quality of life to be more important than longevity of life. That is easy to say as I have way more days behind me than in front of me.

  2. TheGuy says:

    Gillette’s toxic masculinity ad. Oh yeah.

    Breeding is now illegal under pain of imprisonment and forfeiture of all financial assets for all time, if you’re male.

    But it’s toxic MASCULINITY… see. It’s not toxic that other thing. Starts with a “fem”…

  3. Infidel says:

    Let it all crash and burn. It’s time for a big reset.

  4. The Deplorable Renegade says:

    2019 is going to be way too “interesting”.

  5. The Deplorable Renegade says:

    Infidel, looks like crash and burn is coming regardless.

  6. Romeo Charlie says:

    Folks making $50k per year buying houses and vehicles as if they are making $200k per year and it’s finally catching up with them. College graduates spending $100k to get a degree in “Gender Studies” or “Ancient Mayan Lesbianism” are now wondering why they can’t pay of their student loans or find a job in their “career field”. Just like the story of the grasshopper and the ant and I have no sympathy for them.

  7. Maranatha says:

    A young honest Christian lady can run errands for senior citizens who all live in an apartment complex. The errands are generally easy to fulfill and they are apt to be generous. Since they all live close together, they offer referrals. This saves you time as you can do many errands at the same time.

    A young honest Christian guy who has a truck and tools and a multimeter can go around and pick up discarded items left on the street. This typically happens when people move. You make small cosmetic repairs then sell it.

    You visit rummage sales on the last hour of the last day, and offer a very small price for leftovers and only if something is of immediate value. Again you make small cosmetic repairs then sell them. It’s generally furniture like a couch. If you hurry, then people offer freebies in craigslist but it’s doubtful you can get there in time.

    Anyone can do either to make more money than standard jobs. You are going to have far less hassle than working most jobs. It also is not time consuming so you can work a job and do either as well.

    Neither of those takes much of an investment. If you have a couple thousand, you can watch the obituaries, and call the family. They will refer you the executor of the will. Most often the house of personal effects which the family does not want other than some keepsakes. You buy things that will sell fast. That’s a tougher business because others do the same thing so you are competing with them. Plus not everyone has a couple of thousand to start. Don’t tie up your money long. You can sell to used furniture dealers too. Sometimes they have antique furniture which is better to sell yourself or just keep. Tieing up money in used items to make an extra $25-100 is typically stupid. It would be better to be more negotiable and move on to other items as them just sitting there, earns you nothing.

    Never buy collectables as they really have no value except on the whim of a few. Lots of people lost money on collectables. Buy practical items that people need and only if the selling price is very low.

    • Maranatha says:

      The deceased will have vehicles but that takes a lot of money and if these need repairs, it’s a genuine risk. You could tie up a lot of money in a lemon. If it’s a great car, they would make more money themselves and they want too much for it. You might find a replacement vehicle though for less as they are highly motivated to sell as they don’t want it.

      Sellars overestimate what things are worth. It has to be a third less than standard just for you to make money. Plus locals may be broke so even if it’s a good deal, you can’t move it. Used car dealers would offer them even less that what you would and most likely they have similar cars on the lot so they don’t need the inventory.

      • bb in GA says:

        And at this point the State often steps in…In GA we have an anti-curbstoning law brought to you by the Used Car Dealer’s Lobbyists I’m sure.

        You cannot legally buy and sell used cars for profit as an individual in GA without being part of a “Sticks and Bricks” licensed used car operation. Same for used auto parts too !

        You obviously can buy and sell cars for your personal use which is usually not a ‘for profit’ transaction, but if you start flipping cars and it comes to the right official’s attention…

        It applies to auto parts too. That is totally crazy and most people don’t know about it. For instance if you know about a popular part, you can’t even (legally) go to the pull-a-part junk yard and harvest a few of them and resell them at a profit. Illegal in GA.

        Of course, these laws are not generally known about or honored by many citizens who might know about them, but they are there and subject to selective enforcement by someone you might piss off.

        <bb

    • Yahooie says:

      “A young honest Christian guy who has a truck and tools…”

      My son did that for a number of years before he started his own business. He did well. He and DIL were always able to be quite generous at holiday time with gifts, etc. He would also go browse garage sales and find interesting items for cheap (or bargained down) and resell on eBay. He worked part time in retail during this time so there would be a parent with the children at all times; no day care for them. During this period of time is also when son and DIL were saving up for a down payment on a single family house to upgrade from their townhouse.

      • Maranatha says:

        Yes, when you are a “ragpicker” you visit rummage sales and find bikes and small appliances. And you generally donate them to neighborhood kids and single moms. I can’t count how many computers I got and gave away for nothin’.

        You offer a set price for leftovers (if there is something good there), so there are old books, old hand tools, gently used coats and sweaters, etc. These things get given away, most generally.

        The people running the rummage sale made room in their basement, attic, and can finally pull the cars in the garage and shut the door. They don’t want this stuff. So they often sell it for ten cents on the dollar or even a nickel on the dollar as it’s the last day and they are exhausted from the sale.

  8. The Deplorable Renegade says:

    Maranatha, old vehicles for cash are the only kind I’ve ever bought my whole life. NEVER had one financed my whole life because I don’t make enough money to even WORRY about credit. Most of the ones I bought had some kind of problems at first but I’m always VERY choosy and avoid ones with any really major problems. Only insurance I’ve ever had was liability. So my rule has always been: Buy the best thing you can for cash, keep it going the best you can, and avoid financing if at all possible. There’s definitely an advantage to being debt-free.

    • Maranatha says:

      Beware transmission problems. Little old ladies who have no sons do not maintain their vehicles as they are forgetful and don’t have anyone to remind them. So not every inexpensive vehicle is a good deal.

      Really older vehicles from the seventies were more robust but not fuel efficient. I guess the early eighties vehicles might fit that sweet spot.

      KY is far from the ocean and has little ice or snow really in winter. That means little salt corrosion. Salt creates an ionic chemical reaction that releases metal ions when combined with water.

      We generally get one minor snowstorm a year.

    • Asshat says:

      How much $ did you put into the car over the time you owned it. If you put more $ into it that it’s worth you threw good $ after bad. Buying a new vehicle isn’t a bad move you get a new car warranty and piece of mind for years long after the note is paid off if you maintain the vehicle. It is a bad move if you can’t afford a new car. Bought my truck new paid it off in 6 years been driving 8 more years without a payment. Just now is it getting to the point it’s gonna need a few things. The truck is worth about $2800 and needs $1500 worth of work to get it up to speed. Imo not worth it cus if I put the $1500 into it and the tranny goes a week later now your out $1500 or your dropping $1800 more into it. Now your $3300 into a $2800 truck. It is old and the 14 years of winter salt corrosion are in it. I’m not saying it’s shit but I’m gonna keep driving it and put as little $ as I can into it till the inspection expires. Then it’s into the dealer for a brand new truck. Never had good luck with used vehicles. You don’t know if it was under water somewhere. It’s not like the old cars these are throw always doesn’t matter what make it is.

  9. Maranatha says:

    J3dMIfhXo-I
    htt ps://www.nutritionix.com/i/nutritionix/spinach-ricotta-stuffed-shells-1-stuffed-shell/5930262a25b36a8e1fea8d47
    Stuffed shells with cottage cheese, and homegrown tomatoes and spinach is a pretty frugal meal that is nutritious. Most people like it including children. That and some carrots with a little brown sugar makes a good meal. If you wanted you could add in some ground game meat too.

    Ideally you use ricotta.

  10. Maranatha says:

    3aaPyvlgjPs
    Chicken pot pie made from scratch can be made with chicken thighs and nobody will complain. Plus you can use up vegetables that are starting to go.

    It’s nothing fancy but some consider it comfort food.

  11. Maranatha says:

    uJ_nivjaSJk
    Here is a goof-proof frugal recipe for pulled pork. Pork tenderloin on sale is often $1.69/lb. A smart ten year old or an average 11 year old can learn to cook any of these three recipes. It keeps in the fridge all week so you have sandwiches for work.

    You don’t want helpless kids you can’t cook. Generally they like to learn and them beam when praised for making a delicious meal.

  12. Maranatha says:

    oYeWU0dyanY
    Bacon Carbonara

    ei89dSSk-rc
    Pesto pasta with pecans

    pfzhJvnVL1Y
    Linguie with clam sauce

    These are all east, inexpensive, flavorful, fast, nutritous meals. Any 11 year old can make these.

    S4z2gmtUzHE
    Drunk mussels in a white wine garlic and butter sauce over pasta or served with french bread. You can use the cheapest white wine and it’s fine.

  13. Bert says:

    This only means that the USA and Europe will double their debt spending, USA to 40 trillion by 2022.

    And all that juicy funny money all passes through Wall Street one way or another, DOW 40,000 — S&P 5,000

  14. Maranatha says:

    jMphA7pbzNo
    The Italians had very poor quality cows so they tended to eat more veal dishes. But when a cut of beef was tough, they would take a meat hammer to it, and slow cook it. That’s called braciole and often is seasoned with Marsala wine. It is inexpensive, delicious, nutritious, easy to make, and makes a good presentation.

    It doesn’t have to have eggs. You roll up the meat and tie it with twine and this makes it cook like a roast. It cooks well in a crock pot, and is great Sunday meal to look forward to.

    Before that meat might have been inedible…yet it’s transformed into something delicious.

  15. Texas Sweet Tea says:

    Although I don’t live paycheck to paycheck, I do like finding ways to save money by reassessing how I spend my money every month. I have a friend who said she can’t save any extra money monthly, yet after talking about her daily habits, I found out she eats out for lunch every day spending on average $8.00
    I added up her savings each month if she started packing a lunch to work instead and she was surprised. She often stops on the way to work for a $5.00 coffee too. The devil is in the details and the smallest expenses end up costing the most. I am currently cleaning out closets, etc and selling anything extra or anything that costs me money to maintain it. I think we have hard times coming and it’s been in the making for a while. I have been a Dave Ramsey fan for years and follow his basic principles. It has helped me a lot and I currently have no debt except my house which I am working on….Some might accuse me of “white privilege”…I would say it’s just priorities and discipline.

  16. There is a movie called “Blast From The Past”. I recommend it for preppers. Though not all can afford an underground bunker, someone with some land and extra space for storage could create their own stores of goods like the characters in this comedy.

    .

    • Texas Sweet Tea says:

      @honeypot, I’ve watched that movie a couple of times and I love it! The history channel has made some good documentary/movies that I enjoy- After Armageddon is one of my favorites. It portrays a family after a pandemic hits and it weaves in useful information from experts while following the family’s plight to survive. It shows good things to think about and do, but also the mistakes they make. I have recommended it to beginning preppers.

  17. Anonymous says:

    The main problem with After Armageddon is the stunt he pulls with the radiator would actually cause the family to perish as it almost certainly would have antifreeze in in the fluid. That harms children and pets every year. I was surprised with so many experts being interviewed that they would make such a horrible error.

    There are also decent cyberattack docudramas made in the UK and America that are worth watching.

    Dirty War is a BBC HBO production on terrorists who trigger several and that portion of the city is FOREVER abandoned. It shows brave firemen sacrificing their health to save people and control the fires. The best aspect is the show what a mess decontamination would be. It’s sobering.

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