This article was written by Michael Snyder and originally published at his Economic Collapse blog.
Editor’s Note: Everyone paying attention knows what is coming. When is another question. For all intents and purposes, the American economy has been in a recession since 2009, and systemic problems are only worsening.
The illusion has gone on for too long, and countless experts have warned again and again that a collapse is coming, and there will be hell to pay.
Former Reagan Administration Official Warns That Financial Disaster Is Dead Ahead
by Michael Snyder
Why won’t the American people listen to the warnings? David Stockman was a member of the U.S. House of Representatives from 1977 to 1981, and he served as the Director of the Office of Management and Budget under President Ronald Reagan from 1981 to 1985. These days, he is running a website called “Contra Corner” which I highly recommend that you check out.
Stockman believes that a global “debt super-cycle” that has been building for decades is now bursting, and he is convinced that the consequences for the U.S. and for the rest of the planet will be absolutely catastrophic. His findings are very consistent with what I have been writing about on The Economic Collapse Blog, and if Stockman is correct the times ahead of us are going to be exceedingly painful.
But right now, most people don’t seem to be in the mood to listen to these types of warnings. Even though there is a mountain of evidence that the global economy has already plunged into recession, U.S. stocks had a great month in October, and so most Americans seem to think that the crisis has passed.
Of course the truth is that the stock market is not an accurate barometer of the economy and it never has been. Back in 2008, almost everything else started to go downhill before stocks did, and the same thing is happening once again. In a recent article, Stockman explained that stocks are surging to absolutely ridiculous levels even though corporate earnings are actually way down…
At this point, 75% of S&P 500 companies have reported Q3 results, and earnings are coming in at $93.80 per share on an LTM basis. That happens to be 7.4% below the peak $106 per share reported last September, and means that the market today is valuing these shrinking profits at a spritely 22.49X PE ratio.
And, yes, there is a reason for two-digit precision. It seems that in the 4th quarter of 2007 LTM earnings came in at 22.19X the S&P 500 index price. We know what happened next!
Why do so many refuse to see the parallels?
This crisis is unfolding so similarly to 2008, and yet most of the “experts” are willingly blind.
Much of the stock buying that has been happening in 2015 has been fueled by stock buybacks and by M&A (merger and acquisitions). Many firms have even been going into debt to buy back their own stocks, but now sources of financing are starting to dry up. This year we have already seen the most corporate debt downgrades since 2009, and big financial institutions are now becoming much more hesitant to loan giant stacks of cash to these large corporations at super low interest rates.
So it is very, very difficult to see how the equity markets are going to move much higher than they are right now.
Meanwhile, the global economy is starting to unravel right in front of our eyes. In his recent piece, Stockman discussed some of these data points…
In the last two days we posted the latest data on two crucial markers of global economic direction——-export shipments from Korea and export orders coming into the high performance machinery factories of Germany.
In a word, they were abysmal, and smoking gun evidence that the suzerains of Beijing have not stopped the implosion in China, and that their latest paddy wagon forays—–arresting the head of China’s third largest bank and hand-cuffing several hedge fund managers including the purported “Warren Buffett” of China—-are signs not of stabilization, but sheer desperation.
So it is not surprising that Korea’s October exports—–the first such data from anywhere in the world—were down by a whopping 16% from last year, and have now been down for 10 straight months. Needless to say, China is the number one destination for Korean exports.
Likewise, German export orders plummeted by 18% in September, and this was no one month blip.
For many more recent statistics just like these, please see my previous article entitled “18 Numbers That Scream That A Crippling Global Recession Has Arrived“.
If the global economy really was doing “just fine” as Barack Obama and others suggest, then why is the largest shipping line in the world eliminating jobs and scaling back capacity?…
A.P. Moeller-Maersk A/S is scaling back capacity and cutting jobs in the world’s largest shipping line to adapt to a drop in demand.
The Danish company, which last month lowered its profit forecast for 2015 citing a gloomier outlook for the global shipping market, will shed 4,000 jobs in its Maersk Line unit as part of a program to “simplify the organization,” it said in an e-mailed statement on Wednesday.
And why are some of the biggest banks in the western world laying off tens of thousands of workers?…
Standard Chartered Plc became the third European bank in less than two weeks to announce sweeping job cuts, bringing the total planned reductions to more than 30,000, or almost one in seven positions.
The London-based firm said Tuesday it will eliminate 15,000 jobs, or 17 percent of its workforce, as soaring bad loans in emerging markets hurt earnings. Deutsche Bank AG, based in Frankfurt, last week announced plans for 11,000 job cuts, while Credit Suisse Group AG said it would trim as many as 5,600 employees.
And if things are so great in the United States, why is Target suddenly closing stores?
The truth, of course, is that things are not great. Global GDP expressed in U.S. dollars is down 3.4 percent so far this year, and total global trade has plummeted 8.4 percent.
We have entered a major global economic slowdown, and like usual, equity markets will be the last to get the memo.
But when they finally do react, that is likely going to greatly accelerate our problems. Just like we saw in 2008, when there is fear and panic in the financial markets that tends to cause the flow of credit to freeze up. And that is something that we simply cannot afford, because the flow of credit has become the lifeblood of the global economy.
So no, “the crisis” is not “over”.
Rather, the truth is that “the crisis” is just beginning, and it will soon be making front page headlines all over the planet.
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Nothing is going to stop this steamroller. The world is too far gone…and at this point, the world could use a good cleaning.
Headline on Drudge right now –
“Socialists gather in New York City to plot political takeover”
But you conspiracy-theorists refuse to vote?
Well, you’d better start shooting then. Because you’re not good for anything else.
(Yassuh, I’sa waitin fo tha shootin ta start afo I jumps in)
ROFLMAO
Come back and visit when you make sense, Vic, and/or your meds kick in.
I think it is the meds that are going to his head.
If anybody is interested, New Zealand just posted the text of the formerly secret TPP online.
http://tpp.mfat.govt.nz/text
If anybody is interested, New Zealand just posted the text of the formerly secret TPP online.
ht tp://tpp.mfat.govt.nz/text
It’s also posted here:
ht tps://ustr.gov/trade-agreements/free-trade-agreements/trans-pacific-partnership/tpp-full-text
Of course they made it difficult by dividing it up into more than 100 separate PDF files, some of them only 1 or 2 pages long. They also refer to other past agreements, so you also have to read those other agreements. Even the preamble refers to a previous agreement.
In other words, this is almost as good a read as the Affordable Care Act.
❤
Or the JimBeam
TROLL
Not meds, not Jim Beam, not a troll.
What I’m on is something you conspiracy-theorists have never tried – REALITY.
PWYPreach… Military Industrial complex and at its head the zionist tribe survive by creating two fundamental crises: one ecological, and the other social. Therefore the forces that will bring it down are an alliance of nature and humanity, both unable and unwilling to exist merely as commodities to be profited from. The death-urge of money exchanging zionists cannot withstand the forces of life unleashed in resistance, and this is exactly what we’re seeing now.
So now I have to listen to more Holiday Season Shopping sales promotions and Black Friday horseshit. I try to keep the TV turned off as much as possible. Just like everything is A-OK. Gas is still holding at around $2.09 a gallon in my area. If the malls and big box department stores were to close down all at once, it wouldn’t hurt my feelings.
Just keep the libraries, liquor stores, head shops,and gun dealerships open…Those are items that are crucial to economic growth and overall prosperity.
I walked through a JC Penney’s store a few years ago on the way to my truck in the parking lot. Few store employees were visible on the floor; mostly young, blonde, and very pregnant girls working at the “customer service” centers.
Hopefully this so-called service economy crashes; the sooner the better.
As for the I-phone carrying, selfie-taking, Hillary supporting Sheeple?
Let them eat food stamps….
https://screen.yahoo.com/colon-blow-000000540.html
Hell, let’s just cut to the chase here, ok? You’re ALL gonna die, somehow, someplace, sometime. But before that happens, please send a big check to good ole mikey doom porn so’s he can get that new car and vacation house that all you ” sheep” shouldn’t be allowed to spend your money on.
Everything will be o.k. The government will take care of us.
As long as we do whatever they tell us to.
I don’t really have much to add to Michael’s article except, the comment …”And if things are so great in the United States, why is Target suddenly closing stores?”
Target is like many liberal run companies. They jump on the “it’s ok to kill babies and we love us some queer folk”, mantra.
God has had it with these people, and soon all them and their supporters/shoppers, will feel the effects of their pc decisions.
it’s ok if people disagree with my statements, that is their choice, but; I say, just pay attention to what happens to the evil parts of society, and see who starts seeing red in their profit margins. The reckoning has begun and it intensifies from here.
What we see being reported by Snyder and others like him are just the tips of the hellish icebergs that are to come. We are actually in a holding pattern, sort of, and God is long suffering for His children to come to repentance.
There is soon coming a day when all that patience runs out, and the woes start pouring out.
I am glad for Michael and his articles. If he can make a living off his articles and books, then more power to him. At least he is getting through to some that have been asleep for way too many years.
Spot on. Good post.
First you say that God has had it with these people, then you say that God is long suffering (patient?) for his children to come to repentance.
Which is it?
The truth is that the world hasn’t seen the judgment of God yet, and won’t see it until God is ready to pour out his wrath on the world (Revelation 8).
We live in the Age of Grace, when “whosoever will may come”, regardless of sin. To say that God is angry with some people is a lie against his mercy and grace, and it puts an image of an angry, vengeful God in people’s minds. God is in a good mood toward us.
Don’t make him out to be hateful and angry.
You are very mistaken and blindly ignorant. To say that “we are in the age of Grace”, is correct; but you gravely mistake that to mean that God has not had it with people and that He isn’t angry.
To the contrary, every time one of His created souls return to Heaven because they have been butchered by their mother and an evil abortionist, He is not running around jumping for joy over that mother and abortionist “killing/murdering/committing homicide”, after He
…..made it very clear…”thou shall not kill”.
Sorry to inform you ‘Vic’, but you have a lot of learning yet to do.
God does hate, and that is those that commit those sins that he hates. Grace only comes into play when admission of sins, and a desire for forgiveness is present. That is when “whosoever will”, comes into play also, and not a minute before.
Otherwise, oh misunderstood one, there would be no penalty for sin, and no one would be held accountable. That is a liberal’s way of thinking…”we do no wrong”.
Who are you to say that he has a lot of learning to do? Rock heads yourself never consider any other point of view than your own. How would you know that God hates, or anything else God thinks. It’s obvious from reading your comments that you hate and apparently think you’re that last word on what God will or won’t do. God hates Target? Now you’re just being ridiculous. I’ll agree with ” Them Hogs” about your being stupid any day, he’s somebody who has credibility, you don’t. Now of course your reply will be I’m going to Hell unless I beg your forgiveness , save it, you live in your own little world and I don’t wish to join it.
So be it, and chuck you too. i don’t need or request your approval. I call it, and you, like i see it, and i see a loudmouth liberal that can’t handle truth.
You will find out what God hates and don’t hate one day, so just keep pulling off more rope, dumbass, zuloo nut.
Them hogs? when?
Go back and check the comments on the last few articles, if you have the courage, which your kind never does, You’ll see it for yourself but will lie to everybody that you didn’t because at heart, you’re a coward. BTW, WHOSE truth is it I can’t see? WHO said I was liberal to begin with. You make a lot of assumptions and call them facts, maybe you’d like to explain for everybody just HOW you know all this, maybe GOD told you? So, go back and read his comment for yourself, and then come back and lie and say you didn’t see it, then everybody will know you for what you are.
hogwash
GOD doesn’t get angry? Let someone mess with a true believer and they will find out if GOD steps in. He contends with those that contend against us. Tell me one person or entity that has gone up against GOD and won.
God always wins. It is the anti-Christs who lose.
Passin,
I don’t know about the patience part but the mocking is over. He’s had enough of that.
Yes, most definitely, and it is in the Word as well. people like the above two clowns don’t know what they are talking about, so they just go with the mockery crowd that say i am angry, stupid, and, yada,yada,yada… the same ole shit slinging and just a different handle and different day.
Their mockery will get them in hot water some day soon. Hot enough to boil frogs, i suspect.
Yeah, you can only HOPE, right? Lonely, sorry old men like you are to be pitied, and no, just so you know for yourself, I’ve never read anything here until a week ago, never submitted a comment until recently, so no, I’ve never said anything to you until today, sounds like you’ve having trouble getting along with other people here though, can’t say I’m surprised, people like yourself never allow for a difference of opinion, so I would think it’s pretty common for you to make enemies of most people you talk to.
You don’t know shit about me. You are a mocking prick and a trouble maker. The only people i have ever had a problem with are your type, and i will stand against you and your type all day. I think you are just itching for a fight so you can make your pitiful self feel better, by attacking someone you say you have just started reading.
Piss off and find somebody else to troll if this is the best you got, and take them hogs shit with you.
You are not a formidable enough of an opponent, for me to waste time with.
Well now, somebody seems to be in a little girl fit of rage, aren’t they? I don’t understand your need to ” stand against me”, why? You proclaim yourself to be the Voice of God and then act like an idiot child in the sandbox? If this your method of leading people to Christ, he couldn’t have chosen a worse spokesman, the effect you’ll have is to drive people away from Him, instead of toward Him where they need to be. I don’t see ” Them Hogs” in the same light you do, I think he’s an honest man who has some formal religious background. Do you? I sincerely doubt it, as a matter of fact, I think you may be what the Bible refers to as a ” False Prophet, one who tells lies to lead people toward the darkness instead of the light. And no, you don’t have to believe me when I say I haven’t been here for long, it’s irrelevant, but it does make you sound paranoid, perhaps you’re the type who thinks everybody is after you somehow, I don’t know. But I would say that your lashing out towards people does indicate that either your mentally unstable or a false prophet, perhaps both. I think you’re just playing games with people and using God as some kind of catch, if that’s the case, I wouldn’t want to be you come judgment day.
passinwiththewind:
Excellent comment.
I know. How many times and in how many ways can you tell the same story over and over again. Have you thought of going for a check up? Alziemers affects millions of Americans.
Exact same thing people said in Sept., 1929.
Better to be a year too early than a day too late.
Janet Yellen is now openly talking about the FED moving to negative interest rates.
This means the wonderful 7 year Obama recovery is working so well, they need to pay people to take their fiat currency!
you do realize there really is more to it than that.
A negative interest rate means the central bank and perhaps private banks will charge negative interest: instead of receiving money on deposits, depositors must pay regularly to keep their money with the bank.
in reality it is/has a widely selective process that they have at their disposal.
http://www.investopedia.com/terms/n/negative-interest-rate-policy-nirp.asp
…and you will not be able to take your money out to avoid the “tax”. And you will not be allowed to have cash, all will be electronic, that way you can’t get away with having any money that isn’t “taxed”…and today the reports are out, a gazillion new jobs were created in October!! Unemployment is at a record low!!! All is well USA, all is well!!!! There is nothing, absolutely nothing to believe anymore except the Lord Jesus Christ. Come Lord.
And this s why people need to buy gold and silver now and bury it.
Go check out the progress made to date by the UN in pursuit of Agenda 2030 Goal 16.9 and their link up with a Swiss-based company called ‘Accenture’.
With all the disasters and catastrophe’s that have been predicted to have happened over the last year or so I’m surprised anyone is still left alive on Earth.
I believe that a significant part of the reason that brick and mortar retailers like Target are closing stores is because of the shift in consumer spending toward online retailers like Amazon. I’m not saying that things aren’t bad. However, they may not be AS bad as some might think. I say this, in part, because economic collapse has been “imminent” for many years. Yet somehow, the “system”, against all odds, just keeps moving along.
Rarely does anyone with problems admit they have problems. I’d expect banks to keep up the facade as long as they can. Target sucks I don’t go there they don’t even sell gun magazines they are a joke. Target is ghaaaay. Forget retail economy people don’t need all this cheap shit. Save your$ and the retail cutthroats will fail. With all the credit fraud your probably safer stashing your cash in a secret spot nowadays.
What is killing walmart? I had a list I compiled for a few weeks to save time.
At chinamart, I left after asking management to help me locate 3 of the first items that were not there.
Anon.
“With all the disasters and catastrophe’s that have been predicted to have happened over the last year or so I’m surprised anyone is still left alive on Earth”.
Humans are so resilient.
I do feel at times we all run the path down to prepper burnout. Many of us are preparing for our own families and then extended families. We Hyperprep. Hoping others might listen and pick up the torch. We become frustrated as we met resistance in our efforts. I do get angry at people but I can’t save the world. I wish people would take all our info, examine it and throw out the trash. Believe it or not but at least you have been warned. I had my share of ridicule and have gone silent in conversation about preps. Excepth here.
The more other people prepare the better off we all will be should things go south. BUT we are a long way off from any type of consolidation.
So get your shit together and hope for the best.
Sling, burnout is the word.
One can prep for 20 years, burnout, and keep prepping because it gets in the blood…
Like a bad obcession.
Thanks Mac for all you have done…
To not burnout, be well balanced in your prepping.
In all arenas.
Balance your time also, between family, work and play.
Kinda a ying and yang thing.
Read the archives here newbies.
Be well all….
eppe
Ooooooooh Yeeeeeeah!
I am always looking for that nugget that changes things. I have found a few here. Some complex some simple. I once read about emergency arc welding using your car battery. Dangerous but very very out of the box.
Sling, one way I look at it is:
If nothing happens bad, my girls have tons of camping, weapons, food, survival stuff which they know how to use. And a cool compound…
Knowledge is one thing they cannot forget, I pump all I can in those brains…
Balance all you do…
eppe I know what you mean about the obsession. After every fall harvest of veggies, canned goods a Wal-Mart are 50 cents a can for Libby’s and I can’t hardly pass them up even when I don’t need them. Trekker Out.
I think Libby’s does that every year-last Libby’s I got were 33¢ for peas, green beans, and corn.
Buy cases @ that price.:-)
Ain’t no reason for anyone to go hungry at that price. Many people don’t even use canned goods, especially those on welfare. Peas, Green Beans and Corn sure will be a life saver when the Schumer Hit The Fan. Trekker Out. Preppers Prep, All Others Go Hungry!
Add egg noodles and a little gravy and a meal is served with that can of peas or corn.
Sling –
I accepted a long time ago that I can’t save everyone.
Just keep prepping and helping others that are starting to figure it out, that’s been my mission for years now.
In the immortal words of Dirty Harry; “a man’s gotta know his limitations”.
We’ll help and save as many as we safely can. The rest are on their own.
Cib, same here.
To those who respond, life change…
Majority of the world’s financial problems and wars will be resolved if and only if the humanity simply wipes out the Zionist cult. Pure and simple.
Burn down their castles such as the Buckingham palace and the Virus named the Rutchchild empire in the UK, then move to clean up the rest of Europe one city at time and expand it to every single country on this planet.
Just an fyi. Some castles have several hundred rooms. Buckingham Palace has 775 rooms. That’s living large.
Now here is an interesting idea to research if you have the time.
The Rockefeller Institute and the Rothschilds collaborated with Josef Goebels in 1939 to change the pitch of music. They changed it from Verdi’s A [432Hz to 440Hz.]
1) Why?
2) How come a Jew and a Nazi were collaborating on anything?
3) Why music?
Stockman is the problem, not the solution. He is raking in over $150,000 retirement for his four years in congress. He’s rolling in over $100,000 for Federal Retirement, plus medical benefits we can only dream of. Stockman is a fake business man claiming to have knowledge of the economy. If he is so damn sincere then cancel his taxpayer funded retirement and work for a living like we do. Piss on David Stockman!
He was used as a reference by a blogger who has claimed the sky is falling for years.
EVERY single BANK in the WORLD (including, yes, here in the U.S.) is INSOLVENT!
NOT ONE is Solvent!
The ONLY thing that can save us and the world is the following:
– prayer
– repentance
– doing works of mercy
– forgiving others
– acting justly
– more prayer
Don’t be distracted by the evil and the evil-doers.
God can do ANYTHING, but He will need your free will and mine because that is His supreme gift to every human being. Without our will aligned with the Divine Will, it will be very difficult to avoid the wickedness and snares of the devil.
Yes, Satan is real– just turn on your news– because of those who either bought into his lies and deceptions or sold their souls to him. Satan hates humans and thus he gets humans to destroy others, because without a human body, Satan is powerless.
But Almighty God loves us!
When you give your will, heart, mind, body, soul, and will over to Almighty God each and every day, you will be astounded at how He works in your life.
Stay vigilant and prepped, but stay prayerful.
God bless you all.
– the Lone Ranger
Amen, LR.
God Bless You too, LR.
Well, I’m seeing other signs of 2007-08. I logged in to payoff my cc, and noticed my credit lined had been increased 125%. And I had a pretty decent limit to begin with. That happened in 2007, and then in 08 one day I went to make a small purchase, and was thousands below my limit and card was declined because they decreased the limit to below my balance without warning. A month later loehman brothers was crashing. They need us to spend money, but I’m steadily unplugging from the system.
No pitty-that was the year 3 cc companies offered us a 60% discount if we paid the 40% balance that week.
Citibank, Washington Mutual and forgot the third.
Jumped on that deal real fast.
Later discovered why!!!
Cash flow problems; in the trillions!!!!
Upgraded woodhauling trailer today, 15 years out of old trailer . May add a knew STIHL just for good measure. Good luck to the many deer hunters taking to the woods this month,enjoy the outdoors .
Whatever you do just don’t give up your firearms. Hopefully everyone knows the head of of Walt Disney empire who is a big “Z”. Now see what the tribe is producing to make the faithful to turn in their arms so they can be slaughtered.
http://www.infowars.com/disney-documentary-attempts-to-shame-christians-into-giving-up-firearms/
Target is closing stores, but they are also building new stores. We have a brand new one here. We have a huge new shopping center here, just in time for Christmas traffic. And they won’t have any traffic lights until next spring or summer. Even though it’s not in the city limits, they will have city police directing traffic in a couple of weeks. Needless to say, that shopping center and the one next door to it won’t see me this year. Actually, I won’t be anywhere near any shopping center the rest of this year.
Most of what we’re buying for Christmas is already bought and put away. We are making a lot of our presents this year.
The people at the bottom of our list are getting a plate of brownies. We got the mix for $1 a box. The next tier will get socks, scarves, or gloves.
The top tier (including wife and I) will get an assortment of better presents. Probably the most valuable present (in terms of time spent) is a portable hard drive for my sister loaded with hundreds of books and other useful and/or entertaining files (cookbooks, gun manuals, textbooks, survival texts, novels, good old music, etc.).
January will start a new round of stocking up. Maybe some of the prices will go down. I don’t know why, but gasoline suddenly jumped up by 25 cents a gallon this week. It was $1.90, then it was $2.15.
Thats what Im doing this year, making Stolen for Christmas,
This has been happening since the 1870’s, when the Government became corporate sponsored. They live on dirty laundry (WARS) and they need a big one now. All the little ones since WWII have had little effect in the scam to keep it all going under cover. Time is running out for them to get it started, why; because people are starting to wake up. Tie everything you have down nice and tight, things are going to get very bumpy from now on out. Another thing they must do ids disarm U.S.A., but alas that is going to be very difficult do and they know it.
‘Super-Cycle’…
In the foothills just outside of town I can find fossils that are millions of years old. I can look up at the stars any night and see deep time.
Somedays I am not too impressed with all Gods children throwing crap around like self-absorbed monkeys on a spining dirt ball.
A coming disaster? Compared to what? Breeding and consuming until we eat kids?
(‘Soylent Green is People!’)
Who was it that used to always post here: ‘Same shit, different day’?
rant off.
cranky old man needs a nap…
It won’t be debt that will trigger the crisis but the economic collapse of the following countries. Debt, in the computer age, can always be manufactured and hypothecated exponentially, especially with quantum computing.
The next crisis will be brought on by the collapse of Germany, Sweden and China. These manufacturing behemoths will come down for various reasons but down they will come. Germany and Sweden will come down because of the refugee crisis, which is already gumming up both countries, making it harder by the day to do things. Germany, by the way, is the only thing propping up the European Union. Without Germany’s wealth, the whole Euro area goes down. Sweden is also a serious European manufacturing and export economy, and would be a major blow to EU wealth. Wealth will then flee from Europe to ‘safe harbor’ in the US.
China, on the other hand, will go down because of corruption: all their numbers are flawed and fraud: an illusion that can no longer be sustained. Nobody can afford to buy their junk and crap.
“China, on the other hand, will go down because of corruption: all their numbers are flawed and fraud: an illusion that can no longer be sustained”
Yeah, and the USA is honest & forthright. A whole pack of lies. You can’t live honestly & well on lies.
RED ALERT!!! Snyder is calling for a stock market crash! It’s supposed to happen anytime over the last five years, but due to several important events aligning in the same month, the crash will definately be two months ago. Thankyou Mr. Snyder for warning everyone to stay out of the stock market over the last few years as your readers may have have doubled or trippled their money. It’s good to know we have a good Christian out there making thousands on ad space while looking out for the prepper community.
The sky is falling the sky is falling the sky is falling! Ok we know this, but WHEN!!!!!!
Sgt.
“Official” Unemployment Ticks Down to 5.0%
Labor Force Participation Remains at 38-Year Low; 94,513,000 NOT in Labor Force;
“The number of Americans not in the labor force last month totaled 94,513,000 — a slight improvement from the 94,610,000 not in the labor force in September–but the labor force participation rate nonetheless remained at its lowest point in 38 years, with only 62.4 percent of the civilian noninstitutional population either holding a job or actively seeking one.”
CNS News
Direct link…
http://cnsnews.com/news/article/susan-jones/94513000-americans-not-labor-force-participation-rate-remains-38-year-low
The thing that is interesting is how TPTB spin the story on this,
Many politicians say that this is why we need so many immigrants, because all these people are not going after the available jobs. Over here, pretty much all the jobs are either service sector or government, there are a few entry level positions here or there but very few.
So yea, if you want to work on call for hotel banquets or be a government turd your in there but if you have any aspirations of a real career you might as well resign yourself to being head burger flipper at micky d’s or the pants folder at jeans warehouse.
So, what does Logan Aluminum know that we don’t??
Just hired 12 new engineers in one dept. from all over the country.
Next door is from Tn….moving in as I type.
Sending employees all over to recruit and train.
Spending 240 million on the plant.
Neighbor has two sons working there so I believe his info.
So, what do they know???
It will stay the same as it is now until mother nature says something huge here in the U.S. Or GOD has had enough of the whole world and wipes it clean. Only the rocks live forever. Prepare your soul now if you haven’t. Are you prepared die?
@ Robert Crumb for President – I loved your post, you are so right. – I too, do what you do. I keep the television off, and I really limit set around the holidays. I limit set going to the malls, the box stores, and listening to the Christmas music and television bomb bardment, of Thanksgiving and Christmas advertisements . When I drive, the radio is off in my car. In fact, once Thanksgiving is over, I shun all malls. – I recently had to go to wally world to purchase bubble wrap and a packing box.- The store was practically empty. There were around 4 employees that I saw, 2 were on the cash registers. – I then had to go to JC PENNY’S to purchase a new pair of jeans, as I lost weight, and went down 4 pantsizes. – There was nobody in the store, except at the customer service check out lines. That was backed up. – I prep, I am grateful for what I have, and I don’t need to be around the insanity of the holiday nonsense.
Michael Snyder = YAWN. I’m glad to see Mac printing a lot of other authors that actually have something constructive to say. This guy has been writing the same old wrong crap over and over for years. Now that he has nailed down a collapse before the end of this year, it will be interesting to see if he continues the same crap next year.