We are on the verge of another recession. So says Shadow Stats economist John Williams, who warns that by the end of July it will become apparent to all Americans. That’s when the government will release its latest GDP economic figures and according to Williams those numbers, combined with revisions for the first quarter of 2014, will show negative economic growth for a second quarter in a row, the official definition for recession.
In an interview with Greg Hunter’s USA Watchdog, Williams explains that it all boils down to one critical factor. Credit lending has tightened up since the crash of 2008 and without it U.S. consumers don’t have enough money to continue fueling the economy through consumption, the single most important element of economic growth.
We’re turning down anew. The first quarter should revise into negative territory… and I believe the second quarter will report negative as well.
That will all happen by July 30 when you have the annual revisions to the GDP. In reality the economy is much weaker than that. Economic growth is overstated with the GDP because they understate inflation, which is used in deflating the number…
What we’re seeing now is just… we’ve been barely stagnant and bottomed out… but we’re turning down again.
The reason for this is that the consumer is strapped… doesn’t have the liquidity to fuel the growth in consumption.
Income… the median household income, net of inflation, is as low as it was in 1967. The average guy is not staying ahead of inflation…
This has been a problem now for decades… You were able to buy consumption from the future by borrowing more money, expanding your debt. Greenspan saw the problem was income, so he encouraged debt expansion.
That all blew apart in 2007/2008… the income problems have continued, but now you don’t have the ability to borrow money the way you used to. Without that and the income problems remaining, there’s no way that consumption can grow faster than inflation if income isn’t.
As a result – personal consumption is more than two thirds of the economy – there’s no way you can have positive sustainable growth in the U.S. economy without the consumer being healthy.
It’s just not going to happen.
With nearly 50 million Americans on food stamps, a record of over 10 million receiving disability benefits, and millions more depending on unemployment insurance to pay their bills it was only a matter of time before reality caught up with the fuzzy math being used to justify a so-called recovery.
The bottom line is that we, as consumers, have no more money left to throw into the economy. We’re using most of it on food, rent, utilities, and now mandated health insurance taxes. And as Williams noted, incomes aren’t rising, so without additional credit being pumped directly into the hands of the consumer there is no possible way to keep spending money.
Where is all this headed? Williams warns that the government’s failure to address the economy and our national deficits will lead to disastrous consequences.
You are not seeing an annual deficit of $400 or $500 billion dollars. You are really seeing something close to $6 trillion.
That is beyond control, and it raises the question of long term solvency of the U.S. It is a big concern for the global markets. It’s really the reason why nobody outside the United States wants to hold the dollar. Now, look at the U.S. economy, it is turning down. Economic strength is a big factor in the value of a currency.
As the renewed downturn gains wider acceptance or wider recognition, that will intensify the selling pressure. When someone starts selling, it’s going to be a race for the door, and I am looking for a dollar selling panic to be the trigger for the onset of hyperinflation.
What we are seeing in inflation now is a pickup in inflation, but it’s not a hyperinflation. Massive dollar selling–that will be the trigger for the hyperinflation.
…
I don’t see what will save it at this point. . . . Now we are to the point that the dollar has been ignored for years. The federal deficit has been ignored for years. . . . That’s what we are on the brink of disaster with, and that is what has to be addressed now, and that’s not happening.
…
The way I see it, the dollar could go to zero in terms of its purchasing power. You don’t want to have your assets in U.S. dollars.
John Williams previously forecast that A Domestic Hyperinflationary Environment Should Evolve by 2014. Food prices, gas prices, electricity prices and the cost of most other essential commodities are rising unabated. Currently, we are seeing an annual rate of inflation for food of over 7%, a level that will lead to serious problems coming into Fall.
Now, as Williams predicted earlier this year, a recession will be apparent once the government is forced to revise their economic growth figures later this summer.
He’s two-for-two so far and he says that what we’ll begin to see next is a loss of confidence in not just the U.S. economy, but the status of the U.S. dollar as well.
Given the rampant manipulation from government and global central banks, the timing of the end game is elusive. But what we know is that nature always wins out, despite our efforts to control it.
This time around, when nature finally shows its economic fury, it could well go down as the largest collapse in the history of the world.
The time to prepare for it is now.
Ohh… Everything is fine.
Im gonna go out and bury more stuff……
yup ed, i’m gonna buy more stuff too….mre’s, ammo, canned goods, another water barrel, ……
The cause may be the economy of the SHTF event, but the perceived reason will highly likely be something else like war. The problem I have with these articles is the time line that has failed again and again to manifest itself. Back at the beginning of the year a March date was given, 40 days for sure, May, etc. This is bogus and no one should give a time and not be held accountable when this time does not occur. By the end of July with this? Perhaps, perhaps sooner, perhaps later. I personally rather have the facts stated about the economy and then a series of what to look for the ultimate collapse.
It is extremely difficult to give any time line on the economy going into the toilet because there is so much manipulation of facts and numbers. It is not like forecasting earthquakes that are based on decades of past records that follow a set of patterns that change very little. The economy is based on hundreds of different varibles that are flawed because of the lack of accurate numbers to plug in. I will just say that the economy sucks, people are suffering and it should get much worse. “When” is the extremely hard guess that very few people can come up with a formula to predict it accurately as past track records show all too well.
Hey Bi
How ya doin,
What did you think about that quake in Va?
Sorry if i missed a thread somewhere.
I agree with John Williams on this score: the Second Leg Down is just around the corner and could manifest by August;and I mentioned that here a few weeks ago. Alot depends upon car sales and home sales for May and June.
Home sales not likely to rebound but car sales could surprise. If the banks release some of that cash sitting in their reserve accounts at the FED a spurt in June could provide false hope, but its not likely to be sustained through the elections.
The Dems are going to get creamed. The Retards could take both Houses of Congress and everyone would be screaming for Impeachment. That would be a bad idea because if this SOB resigns, Biden will give him a full pardon for all of his crimes.
Let him serve his full term with both Houses tied behind his back, then produce the evidence on this MFR and send him to prison!!!
The Black community has had enough too!!! 🙂
With respect to this statement by Williams:
“The way I see it, the dollar could go to zero in terms of its purchasing power. You don’t want to have your assets in U.S. dollars.”
That is just insane. Insane.
The PTB, the NWO, is not going to destroy the dollar’s purchasing power as John claims. Alot of you might like to believe that, but it is just not gonna happen. They are not going to destroy the source of their wealth, power and dominance; or the balance sheets of their corporations.
That is completely irrational. But John has been claiming HYPERINFLATION for years. Deflation destroys the wealth of the poor and middle class.
HYPERINFLATION destroys the wealth of the Uber Rich. Not gonna happen. 🙂
dk,
I don’t need to tell anyone on this well informed forum that we are in uncharted economic waters on many levels. The magnitude of the global sovereign fiscal imbalances may be well beyond the ability of the ultra wealthy to control when the final economic slide begins. At this point we could see massive deflation, hyper-inflation, or both. The next few years will be fascinating to observe first hand.
Have a good holiday.
Durango “Krugman” Kid says @ May 23, 2014 at 12:04 am:
“I agree with John Williams on this score: the Second Leg Down is just around the corner and could manifest by August;and I mentioned that here a few weeks ago.”
Then, Durango “Krugman” Kid says @ May 23, 2014 at 12:13 am:
“With respect to this statement by Williams: “The way I see it, the dollar could go to zero in terms of its purchasing power. You don’t want to have your assets in U.S. dollars. That is just insane. Insane.”
The PTB, the NWO, is not going to destroy the dollar’s purchasing power as John claims. Alot of you might like to believe that, but it is just not gonna happen. They are not going to destroy the source of their wealth, power and dominance; or the balance sheets of their corporations.”
Dude, I think you’re bipolar or something?
Anyway, do you think this second leg down you expect would fuck over those people you encouraged to buy real estate the last few years? Or, is that just normal mortgage broker fluff you gloss over and forget about? Par for the course kind of stuff?
You Got yours, after-all. That’s All that matters to you, or so you’ve said. ….Long live the empire, right? As long as it serves you, and your friends are in control? …The rest of us can just bow down and obey and pay Up?
Yeesh.
Wouldn’t try to put a date on a collapse, but sounds like wishful thinking by DK. You speak as if the uber-rich have not made sure they are at the head of the line in case of such an event. The uber-rich will come out smelling like a rose. The merely rich will be looking for windows to jump from. EVERY fiat currency collapses. No exceptions.
Williams extrapolates the “real numbers” from the feds fudged numbers…and he is excellent at that!
He,like you, is a numbers guy and formulate his opinions given the figures presented..period.
Given that,none of us know what’s brewing behind closed doors and ,as we all do,speculate on the facts presented.
That being said…well inflation IS rearing its ugly head …unless you haven’t purchased any energy based products or any food commodity based products over the last few years…..
and…
Car sales as an economic forecast?
Really?
Williams stated years ago that the best hedge bets were booze,canned goods, and lead..
To that..I’ll agree..
possee
Central banks, if not abolished, will effectively decide who is going to get credit, on what conditions, and at what price. They will decide which governments, which banks, and which kind of business sectors and companies will flourish or go under.
The truth is that if central banking and it’s funny money is not brought to an end, this country, and the world for that matter, will end up in a socialist-totalitarian dead-zone.
Hey Durango Kidd, it wouldn’t matter to the uber rich if the currency went flat and the US economy dropped off the cliff because they have their wealth invested in tangible recorces and physical wealth like gold, silver, oil etc. Correct me if I’m wrong but you can take those three anywhere in the world and exchange the m for any currency. So why would they care about the dollar?
Just saying, because it’s common sense.
TPTB are destroying the purchasing power of all the world’s major fiat currencies because they control the central banks. They want to produce a disaster large enough to bring about a one world government.
“When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here. A super-state controlled by international bankers and industrialists acting together to enslave the world for their own pleasure. Every effort has been made by the Fed to conceal its powers but the truth is—the Fed has usurped the government.” ~ Congressman Louis McFadden, Congressional Record, June 10, 1932.
Deflation destroys the wealth of the poor and middle class.
Explain please.
HYPERINFLATION destroys the wealth of the Uber Rich
Explain please.
Kevin2 says:
“Explain please.”
He can’t, and when he tries, all you hear is Keynesian twaddle!
Only an uninformed boob buys into the notion that “Deflation destroys the wealth of the poor and middle class.”
de·fla·tion
/diˈflāSHən/
noun
1. Reduction of the general level of prices in an economy.
Just how reductions in general price levels hurt the “poor and middle class” is know only to DK and those of his ilk.
The durango kidd is an establishment/banker tool.
What is NOT making headline news is the super rich have been buying all the precious metals they can, “BEHIND THE SCENES” they don’t want people to know how they are shoring up there wealth. They know they are watched just like Soros and it could be negative for them to openly do this. YUP i know several (not Personally)who have standing orders for any amounts that come available and will buy with cash behind closed doors!
FRAUD ALERT!!!!!! About 10 minutes ago I got a call on my cell phone saying my debit card had been invalidated please press 1. I did no such thing, and went to my bank they said it’s a fraud. Watch out!
As long as you can remain employed, deflation is a very good thing especially when one is living paycheck-to-paycheck.
If you have no cash-flow and only “assets” then you hate deflation because everytime you have to liquidate an asset, you get less cash than you could have received previously.
Nearly everyone I know is in the “insignificant assets camp” and yet several have been brain-washed into believing that inflation will be a benefit to them.
Did any body see Meg Whitman -HP’s Chairman on CNBC This Morning? She was talking about Hewlett Packard and 3-D Printers and the New World Order (NWO) that HP is entering into. She kept referring over and over to HP’s New World Order. Like WTF?. Just watch, HP will somehow install some back door software that the NSA can hack into, to capture everybody’s 3-D blueprints and hacking printer data mining. I tell you, everybody need to have multiple computers, at least one that is NOT connected to the Internet or can send any data.
Nothing personal but it’s the other way around. Deflation is not that bad for the middle to lower class because prices are stagnant or dropping. Wages? They aren’t going anywhere right now in an inflation environment anyway. The Fed needs inflation for interest income.
Hyperinflation occurs not because of money printing per se (although it may contribute to it) or a heated economy which produces high inflation. Hyperinflation is a different animal in that it is caused by loss if faith in the currency and everyone is trying to get their hands on any durable good but the currency. This situation is not good for anybody, even the super righ, who have their wealth in that currency.
It comes down to a simple choice: “Get Busy Living or Get Busy Dying” Andy Dufrane – “The Shawshank Redemption” http://www.youtube.com/watch?v=q6v_eSNVxec
YH: While anything is possible in life, HYPERINFLATION of the dollar is the least likely because it is the evidence of the NWO PTB wealth, power, and dominance. HYPERINFLATION of the dollar can only occur through nuclear war, EMP solar flare, pole shift, or the eruption of Yellowstone.
There are two Americas and two American economies: one for the Uber Rich and one for everyone else. The PTB will choose deflation for everyone else, as they have, while protecting their wealth, also as they have.
Massive deflation will continue with the Second Leg Down. Anything of value that is leveraged will be forfeit. 🙁
Its Chamber of Commerce weather here, gonna be a great weekend. Same to you! 🙂
Antonio UK: The Uber Rich WOULD care if the dollar went flat because in addition to their free ‘n clear real estate, art collections, and precious metals; they hold much of their wealth in cash and near cash (securities) denominated primarily in USD. The Uber Rich have the most dollars; and the most to lose if their dollars go flat.
K2: Deflation destroys the wealth of the poor and Middle Class because it signals a declining downward spiral of consumer demand for products/services and asset (home) values.
Declining consumer demand causes inventories to rise, and businesses to lay off or fire workers; who inturn without income, reduce their spending for products and services, etc, etc, and the vicious cycle increases. This slows the velocity of money in the economy as individuals and businesses who have cash, hold on to their cash and increase their savings.
So there is less money in circulation for those without savings. The dollar increase in value, if only incrementally; or psychologically if you do not have many.
Hyperinflation destroys the wealth of the Uber Rich because, except for the assets they hold free and clear, like art, real estate, or precious metals; much of their wealth is held in cash and near cash (stocks and bonds)in their corporations and the corporations of the other Uber Rich.
In a hyperinflationary environment the dollar buys less and less, day by day, the fixed return on those ten year bonds buy less and less; and their dollars lose purchasing power on a grand scale. Hyperinflation hurts the Uber Rich most because they have the most to lose. That is reason enough for the PTB to protect the interests of the Uber Rich and themselves.
Double digit inflation is not hyperinflation.
When push comes to shove, bet on Deflation. Hold ten dollar bills in number ten cans. The bankers will protect the source of their wealth and power. 🙂
Possee: Increasing car sales (and home sales) have long been valid economic indicators because these products use parts produced by other manufacturers or industries who must produce them. IE Wood, plastic, steel, fabric, rubber, aluminum, copper, flooring, stone, chrome, and a host of individual parts and electronic items.
These products are acquired for assembling the finished products for sale to the end user: the consumer. 🙂
not necessarily as the uber rich own assets which will benefit during hyperinflation.
Not going to to go to zero? It is at 3% now, why do you think it won’t lose the last 3% when it has lost 97% to date? Believing THAT is INSANE! Thinking it could go to zero is just reasonable common sense.
If you have an eBay account, be sure to reset your password.
eBay Hacked, Bleeds Data And Why You Need To Act
ebay has confirmed “that they have been compromised and that users will need to take action to protect themselves. The compromise, which took place sometime between late February and early March allowed the attackers access to the names, e-mail addresses, encrypted passwords, e-mail addresses, postal addresses, phone numbers and date of birth of customers. In other words sufficient data to potentially cause havoc on your online and offline life .
eBay reported that cyber criminals were able to compromise eBay through the theft of employee credentials (they did not say, though I would place my bets that phishing was involved much like in similar attacks of late) which then provided access to the corporate network. eBay Inc were quick to reinforce that the passwords that were stolen were encrypted though they have yet to provide any technical details on the implementation.”
Forbes dot com
Direct link…
http://www.forbes.com/sites/jameslyne/2014/05/21/ebay-hacked-bleeds-data-why-you-need-to-act/
zerohedge.com/news/2014-05-16/where-worlds-unsold-cars-go-die
Houston…We have a problem!…Nobody is buying brand new cars anymore! Millions of brand new unsold cars are just sitting redundant on runways and car parks around the world. There, they stay, slowly deteriorating without being maintained.
The car manufacturers have to buy more and more land just to park their cars as they perpetually roll off the production line.
There are literally thousands of these “car parks” rammed full of unsold cars in practically every country on the planet.
Sheerness, United Kingdom
Swindon, United Kingdom
Baltimore, Maryland
Sunderland, United Kingdom
((UPDATE: Currently May 16th, 2014, all of these cars at the Nissan Sunderland test track have disappeared? I would guess they may have been taken away and recycled to make room for the next vast production run.))
Runway near St Petersburg, Russia
Runway at Bicester, Oxfordshire.
Avonmouth, United Kingdom
Corby, Northamptonshire, England
Corby, Northamptonshire.
Civitavecchia, Italy
Valencia, Spain.
And finally, when a car is left standing idle, all the oil sinks to the bottom of the sump, and then corrosion begins to set in on all the internal engine parts where the oil has drained away.
Cold corrosion is when condensation builds up in the cylinders and rust forms in the bores. The engines would then start to seize and would need to be professionally freed before they could be started.
Some car manufacturers moved their production over to China. They are then shipped over in containers and unloaded at ports. However they are now being told to put a big halt in their import into the U.S.A. as they just can’t sell them in the quantities they would desire. 🙁
GM “Recalled” more cars last year than they sold. Now that’s scarry!!
JayJay: I read that article too, some days ago. All of those locations except one are in Europe. I wouldn’t buy a Peugeot either! 🙁
Yes auto inventories are backing up in the USA too, so factories and dealers will likely increase incentives soon. There is a pent up demand in the USA as the existing base is 11 or 12 years old, with low MPG. consumer confidence is higher in America now, so June COULD be an interesting month, and a bell weather for reality like Christmas )NO) Sales.
But don’t judge mainstream America by this community. 🙂
JayJay: No problems…. I just picked up a new car on Monday right off the lot. Of course I had ordered that car in December of last year since it was a limited run. This car goes with the other new car I bought off the lot in April of 2011. Car lots here in So Cal are quite empty as they are moving quite well…..
The fleet manager I worked with sold 11 new ones that day…..right off the lot…
Here is America’s Future: Its like Today’s “Kid Trick-or-Treaters.” These Kids show up in droves, knock on my door, tooo lazy to even say “Trick or Treat,” they are hardly in any costume reflecting no effort, and just stand there looking at me like some “Entitlement” expecting me to fill up their bags. Then run off without even a thank you. And these kids are the “Face of America’s Future” who will surely Bury this country into the dirt, when the candy bag runs out.
WWHTI: Very good analogy. 🙂
Hey WWTI, offer them a Bible and see their response.
Helot: People have to live somewhere so if they have cash and a good job, there are INCREDIBLE real estate deals to be made on foreclosures if you are an astute negotiator. You do need experience and some skills, so that probably eliminates you. Sorry.
I am looking at some great real estate opportunities right now, on some exceptional properties that have been on the market for YEARS!
McMansions are two for one with a coupon, and a 200 acre heavily wooded ranch with two lakes and three ponds in the mountains, with a cabin for less than a million bucks. Break into your piggy bank for this one and buy a vivos shelter while you are at it! (Its a big cabin).
Can you say Bug Out Location extraordinaire? 🙂
How I got my BOL. Bank had foreclosed, place had been trashed by tenants, bank wanted to get out of it ASAP. I happened to be there with cash in hand.
Good for you Coach! With the Second Leg Down (SLD) and no Vulture Funds to buy them because they are already stuffed with repos now, there will be enormous profits to be had in foreclosures.
You make money in real estate when you buy (if you buy right)and you realize that gain when you sell. If you sell.
I’m keeping my eye’s peeled, making a list, checking it twice a week, and waiting for the other shoe to drop. When the Dow turns South this next time, sellers will panic. Panic!
Individuals with cash will be able to buy trophy properties for a song and unique properties at a HUGE discount.
In every crisis there is opportunity. The SLD will be an opportunity to take advantage of the Banksters!!! 🙂
Possee: Increasing car sales (and home sales) have long been valid economic indicators because these products use parts produced by other manufacturers or industries who must produce them. IE Wood, plastic, steel, fabric, rubber, aluminum, copper, flooring, stone, chrome, and a host of individual parts and electronic items.
These products are acquired for assembling the finished products for sale to the end user: the consumer. 🙂
DK
“Declining consumer demand causes inventories to rise, and businesses to lay off or fire workers; ”
Those businesses are in China. Every person on pension and there are a hell of a lot of them gets are alive by even mild inflation. Guys that retired from DuPont and The oil industry two decades ago are wondering how to live on that pension that looked damn fine in the mid 90s. No COLA for them.
Deflation is their friend. Prices drop and they live better.
@ Kulafarmer. The earthquake in Virginia is common, and could be a result of the 5.9 a couple of years ago, aftershock. The Foundation for the Study of Cycles has attempted to foretell the economic future and they have extremely hard time doing so. However they are able to forecasts earthquakes and even the solar cycles with good accuracy based on the Moon for earthquakes and the past solar sunspot activity recorded for over a hundred years. The economy has too many obsure numbers to go by to chunch those numbers.
I personally go by the ratio of the price of precious metals, especially gold to the stock market numbers. The ratio right now is too high. The stock is around 16500 and gold is about $1300 an ounce. For the ratio to be 12 or higher shows that REAL money says that the stocks are not yet in the “fake” money region. When you start to see stocks to gold go into the 8 and below ratio shows that fiat money to real money is becoming toilet paper in the investment areas. During the last debacle in 08-09 the ratio of stocks to gold was below 6.5 for sometime. You see that ratio go to below 5 to 1 and all hell is ready to break loose.
I can use the SP500, but it is usually at 1/8 or so the Dow anyway. I rather use gold, because in precious metals it is the GOLD standard. Silver is a little too volatile to get a good ratio. I also use the VIX indication to attempt to gauge what is happening. The VIX is a good benchmark to just how spastic the economy is a dn how willing people are to dump stocks. You see the VIX get above 30 and watch out. I can remember during 2009 this thing reaching 80 and higher. Basically other than seeing the dollar collapse against other currencies this is all I can offer as a forewarning of an econmic freefall.
U.S. faces higher food price inflation in 2014, led by meats: USDA
“The severe drought in California could have a lasting effect on U.S. fruit, dairy and egg prices, while prices for meats, especially beef, look likely to continue climbing, the U.S. Department of Agriculture said on Friday.”
“The food-at-home consumer price index (CPI) has already increased more in the first four months of 2014 then it did in all of 2013,” USDA said.
Reuters
Direct link…
http://news.yahoo.com/u-faces-higher-food-price-inflation-2014-led-141513395–business.html
KY Mom
How you been.
The price of food will get a whole lot higher this year.
That is why I keep saying to put in some kind of a garden in. What you don’t eat, put away, or barter for other food or items. Learn to hunt. Wild meat is better than no meat. Get some bullion cubes beef, chicken, ECT. Mix this with your wild meat and everyone will like it.
Keep bring us the INFO. It is very helpful. THANKS!!!
A.S.M.S.
Sgt
Sgt. Dale,
Plant a garden – excellent advice. I wish EVERYONE would follow it.
For the last few years I have been planting extra tomato seeds and giving away the extra plants to older people and friends. A Roma tomato plant can easily be grown in a 5 gallon bucket (available for a few dollars at many stores) on a deck or porch.
For those who have never gardened, I give them encouragement and some helpful tips. Some now plant gardens at their homes.
Hope you have a great weekend! 🙂
KY Mom
Or just pick up a bucket from along the highway. They seem to be all over around here. People don’t seem to know about tieing down things in the back of a truck.
Beyond Capitalism and Socialism
http://www.loretopubs.org/beyond-capitalism-and-socialism.html
Agreed BI, you never know when the FED, IMF or TPTB behind the scenes will pull another ace out of their a**.
If the issue is consumers being tapped out–I could see the govt pulling something like a big increase in the minimum wage to give a temporary boost to spending. All of those working for min or near min would go on a buying frenzy if they were to all of the sudden jump from $250 a week to $400 a week take home pay…this of course is just one scenario that could play out.
This is why I inwardly groan whenever I hear a date setter…it is going to happen, we won’t know when so we prepare– it is that simple.
Same here. I’ve been hearing about the imminent collapse for well over two years. Having said that I can see no way that it can be postponed indefinitely.
Thats where Im at too guys,, MREs
Figure they will be good going into hurricaine season, the MREs will be good for any emergency, we could get a major storm here in the islands and it would be all hands on deck afterwards, we got other stuff but if im off running a chainsaw or tractor for 12 hours a day i can use them for lunches etc. wont be any ice for keeping stuff cold so ready to eat is a winner.
BCoD
You are right on.
John Williams is the real deal. One of the few people in this arena that I trust. Get out of paper and into hard assets as you said. We are headed into Weirmar Republic territory.
Williams assumes the govt will let the numbers alone to show true recessionary times have hit. I figure the govt will recalculate and fudge the numbers again. They aint gonna let the truth out, esp before elections.
“Recession? We aint got no stinkin recession. The economy is still in recovery but doing fine.”
Future trends can be forecast with varying levels of confidence. Anyone who has played the game knows that exact timing is another matter because of the fickleness of human nature.
The hubris laden expert knows it all and insists that his or her opinion prevail.
The truly wise understand that the older they get the less they know.
If you listen, you can hear the Friday uptick on the Dow. Bad news brings the green. Soros sells his bank stocks, Hewlett Packard gonna lay more off. Aint no doubt the Street plays the cards today.
The older I get the more obvious corruption becomes.
Every time I read a screed like this one, my spidey sense tingles saying “What’s he selling?” Well, what IS John Williams selling?
i had mountain house teriyaki chicken while camping last week and that stuff is really good!
All of the mountain house products are pretty good. I haven’t had any that I didn’t like. The sodium can be high with some of them so watch that.
My kids fight over the freeze dried ice cream sandwich bars.
Obama will blame everything but his own policies.
The media will blame Bush.
People will blame everyone else, but especially the “rich” and the “welfare class.”
The gov will blame a lack of control, and will seek more laws and regs.
Finally, most all of us will have to figuratively eat this shit sandwich. 🙁
The blame game was done in the 1970s with the inflation back them. The cry, “The Unions want too much money” followed by ‘Your profits are too high” were never challenged by the watch dog media. No one said it was deficit spending on guns and butter coupled with pure fiat currency post 1971.
And before that it was them blaming big corporations back in the 1900s and 1910s that led to the never-ending cry for more regulation. Remember the “robber barons”? How about that Sherman Anti-Trust Act, which was supposed to curtail J.D. Rockefeller’s ambitions? We can see how well that worked out.
The fed says interest rates are going up! That’s the last move they have before the dollar collapses. Get ready!!!!! Here it comes!
The Fed is a scam on the middle class
The Federal Reserve.
Newsflash; Its not Federal and there is no Reserve.
Link/source, please….
We have no one to blame but ourselves if we don’t prepare for whatever is coming.
@SAC….RE: People will blame everyone else, but especially the “rich” and the “welfare class.”
Interesting how this country has a 65% divorce rate in a financial and economic circumstance that largely necessitates 2 incomes to maintain a functioning household. It a situation which is completely ignored by financial advisors, the main stream media, or any other entity reporting on the contemporary finances of your average American family. Howeve, with 85% of these divorces initiated by women, the devastation associated with this monumental financial destruction is completely blown off by a brain dead society under the guise of feminazi political correctness, where women are perfect and men are sh*t.
Obomination may nuke a city.
If you bury it to deep you will not have the strength to dig it up. So bury it shallow. You will be needing it pretty quick.
PS: Don’t forget to bury your seeds with the other stuff.
That was a whole lot of words in the article just to tell us that we are fucked. We knew that already. Some are ready for it, most are not.
Yeah, but I think he’s saying its going to occur rather rapidly– this year. After reading zero hedge, I think he’s on to something. ;(
Yeah, Credit lending stopped in 2008 because the banks were bankrupt from all the Gambling and Fraudulent Loans they gave their buddies. Then the with Tarp bailout money by taxpayers, banksters paid off all of their bank debts, Paid themselves hefty bonuses, bought their own stock back at a cheap price,then gambled the rest in the stock market. So what ever was left they loaned out to their buddies, cause the rest of America was upside down on their homes. This is the Biggest Criminal Enterprise and Fleecing of Americans I have ever witnessed in my entire lifetime. And not many if any thieving Banksters, went to Jail at all. Oh and by the way American Tax payers, here’s our Bankster Drunken Bar Tab from 2008 to 2014 you get to pay. hic hic burp!!!
Yep, whodunit, basically the same thing happened here as happened in Greece and other European countries. we’ve all had our countries infected by a trojan horse.. just so we don’t forget the name of the thieves- thats the important thing.
I might could do more on what I’m supposed to do (prepping) if I knew where the heck I’m supposed to live! However, I’m still in limbo over location!! On East coast, no way to travel out West, car broke! ; (
Plus, Putin pointing out rather emphatically (at zero hedge) that they’re dumping the dollar, as is China.
http://investmentwatchblog.com/bankruptcy-crisis-more-u-s-cities-set-to-file/
more cities set to file bankruptcy….oh DEAR!
“The way I see it, the dollar could go to zero in terms of its purchasing power. You don’t want to have your assets in U.S. dollars.
John Williams previously forecast that A Domestic Hyperinflationary Environment Should Evolve by 2014.”
Absolute BS at best and a sad indictment of John Williams !
The USD WILL NOT GO TO ZERO !!! Worth less than now – yes, become one of a basket of reserve currencies in the future – yes, go to zero – NO.
Hyperfinflation – complete and total BS !!!
There will never (in the next 50 years+) be hyperinflation like Zimbabwe or Weimar in the USA.
“Should evolve BY 2014” – IT DIDNT !
Here it is – Eurozone will go down and money will fly to the USD, then Japan will go down then USA, but none will be wiped out – just in severe depression, not recession.
Money moves to the lowest risk base….
Yes, I know – you all WANT the system to collapse and be reborn and quite rightly so.
BUT..what makes you think the phoenix from the ashes will be any better ?
Will government suddenly become decent honest people?
Political graft magically disappear?
Banks fail like they should?
HUMAN NATURE people..got it ? Nothing’s going to change, only wear different clothes next time around.
New boss same as the old boss.
when the guns come out….ANYTHING can/will happen. NOBODY knows what the hell will happen when the excrement finally contacts the rotating mass of twisted metal, but i betcha it won’t be pretty!
It won’t be pretty, but it will be messy.
RealOne…Not sure if I understand why a “basket of currencies” will save the U.S dollar? If we just had debt without the money printing I would probably agree with you, however that is not the case. What you fail to realize is that along with the trillions of dollars in moneyprinting there are also “quadrillion” in the derivative markets. This is a game changer when the defaults hit and will send anything in paper blasted into oblivion. You can’t ignore the casino game thats going on in paper expecting value out of anything once this house of cards implodes.
Also, tell me who is going to buy these notes? Why would the IMF buy a worthless currency for a basket that is backed by nothing? When China, Russia and India are preparing to back theirs with gold? At this time the FED is cooking the books by funneling money to Belgium to buy our notes. Why?
All I can say is that food, energy or any hard asset will be untouchable in the future if you are holding dollars.
When energy invested is less than energy returned or to the point of not showing profit to extract energy (oil) and we are damn near there, then the banks wont finance and the drills wont drill and the sands wont wash and the world grinds to a halt and people die by the billions as the 4 horsemen ride. If you watch all the militarizes of the world positioning themselves, you can see the situation is about to go hot.
The new basket of currencies will not include the US dollar.
I wish economist would quit saying that a recession is coming. Dudes! We are in a 7 year recession. It is the Great, Great Depression that is coming….
If it wasn’t for the phoney gov’t statistics propagated by the MSM everyone would recognize we are already in a depression and it’s only gonna get worse…. and mostly the cause is the policies and manipulation of the zi*nist bankers…..
Don’t worry! Recovery is right around the corner.
We just need to kill a few million Nazis first.
or “greatest”, or “greater” depression, as someone has called it….”depression 2.0″ might be a good one for the younger generation to call it, but to be SURE it IS much worse than “the great depression”.
and we aint even sung the national anthem on this muhfugguh yet….hell, most of us are still parkin’ the car!…and it looks like it’s gonna be a DOUBLE-HEADER!
Since 2008 we have been beta testing “Greatest Depression”. Version 2.0 is due out pretty soon and like a lot of Microsoft products, it’s going to suck until the service patches start coming out. If it’s really bad, we will have to throw away our computers and start over with a new system.
Ugly, spot on buddy! Despite the “numbers” little bit by little bit, it’s getting tougher. Just hope we are left with enough to buy a case of Fosters huh?
Aussie
and if you could take away the money printed/borrowed over the last 10 years….it would be a dePRESSION! all you nonbelievers are about to get left in a DITCH naked and BLEEDING. but go on ahead and PARTY LIKE IT’S 1984!!!
and drink a glass of that kool-aide while yer waitin’.!!
one of my favorite quotes
“I invest in anything that Bernanke can’t destroy, including gold, canned beans, bottled water and flashlight batteries,” David Stockman
and then there is this
“It took millennia to build civilizations on this planet but we will watch them unravel over the span of a few years.” -The Extinction Protocol,
What will save it is time and fake money. TPTB know they must hold America together for 10 to 20 years to fully indoctrinate the next generation, they can’t risk real American freedom loving patriots standing in the way of collective mediocrity.
Even if they keep it going another 20 years (not possible), the outcome would be the same. The system inevitably collapses because it’s unsustainble, not because they haven’t told enough lies and fooled enough people. It’s the lies that destroyed the country in the first place.
We exist now in a permanent recession, socialized medicine is designed to reduce the population, common core is being implemented to steal and control the minds of the next generation, so yes they can maintain control as they slowly chip away and erode the last moral fabric of human decency.
They will keep us in a permanent state of recession until it becomes the norm, they’ll continue to feed house and cloth until it’s the norm.
They will continue to strip God and the idea of spirituality away from the masses until the only thing left to hang on to is government, and in that way they will tell us we can no longer make decisions for ourselves.
Do not underestimate your enemy.
No underestimation here. My understanding of God and the Universe is what makes me realize that this freak show simply isn’t going to last another 20 years. It may not last another 20 months. Events are happening quickly now and the situation is coming to a head. We will be in World War 3 in less than five years…and there is a good chance America is going to be the one getting bombed back to the stone age this time around.
you can blame Obama
you can blame Bush
it really doesn’t matter
both of them are merely puppets
doing what they were paid to do
as are the majority of Congress
thats why things don’t change
it is pretty much irrelevant as to who occupies the White House
POWER, STATUS & WEALTH
http://www.theburningplatform.com/2014/05/22/power-status-wealth/
“Still, here are a few words via Bill Bonner from Acting Man blog, who explains that…
Government’s primary concern is not to protect its citizens or their economy. Instead, it aims to transfer more power, status, and wealth to the elite who control it (the oligarchs).
And to do that, it must keep the masses (the poligarchs) sedated. As Charles Hugh Smith, chief writer at OfTwoMinds.com, explains:
“The State has two core mandates: enforce quasi-monopolies and cartels for private capital, and satisfy enough of the citizenry’s demands for more benefits to maintain social stability. If the State fails to maintain monopolistic cartels, profit margins plummet and capital is unable to maintain its spending on investment and labor. Simply put, the economy tanks as profits, investment and growth all stagnate. If the State fails to satisfy enough of the citizenry’s demands, it risks social instability.”
The feds will be the borrowers of last resort. But the money won’t be invested in a brighter future. It will be pilfered and squandered.
and then what?”
“On the verge of another recession?”
No we’re not.
We are still in the Second Great Depression.
Bingo!
the economy cannot recover as it was based on consumption and the consumer is struggling to pay the necessities.
the 15-20 million jobs that are gone are never coming back because there is no housing bubble or any new bubble to create bubble jobs. those jobs were only created because millions were using their homes as ATMs. borrowing and spending which which created the need for more workers to support the spending.
the spending stopped after the housing bubble popped and it is NOT going to start up again and as i said above folks just dont have as much to spend.
this is what happens when you give away your manufacturing base and turn our economy into a 70% consumer economy buying cheap crap from china.
those WERE the good ole days….going forward the good ole days are behind us. for most of us the rest of our lives will never be like the last 20 years.
At this point I hope they succeed in dragging out the collapse as long as possible. It will make things worse in the end, but millions of people are going to die anyway. If folks are too stupid to have a clue by this stage in the game, they are hopeless. Just give me time to squirrel away more nuts and bolts.
“A Drowning Man Will Clutch At Straws”
The above metaphor expresses futility rather well. Straws do float, but a drowning man would have to be pretty much out of other ideas if he put any reliance on it bearing his weight. Or extremely desperate. There are going to be MANY desperate people out there son enough.
Since the United States is still a ‘young empire’ by time standards, all bets are OFF as to our fate. History books of the future may have a chapter dedicated to the ‘the nation full of promise that grew so fast, it buckled under it’s own weight of arrogance and corruption.’ Not exactly the epitaph you or I would want, but it certainly seems to be a fitting shoe.
And this whole business of ‘first world country, third world country, may have a new entrant…a fourth world country. No prognosticator can tell with 100% certainty exactly how bad our future is to be…but I can say this-
It doesn’t look good.
Are we really screwed????
This is what the globalist wants the money to die, so they can bring in the UN money,and global gov.
Too true jimbow, however, there is another game being played right behind that one, and that is, the power Houses are competing against each other for the new global money right.
I trust most of John Williams’ stuff. As to Hyperinflation, dunno.
I DO think we are nearing a collapse, finally. But if you look to history. The means to print out that much money and deliver to the banks all the way across America is not there. I think something is going to break at the top. A Bank Holiday will ensue. And then panic in the grocery stores.
And that will be the end of society. When the banking system shuts down. The food distribution comes to an end. That would be the truckers. No more banking, no more fuel for delivery.
Tell me where I’m wrong.
You are wrong in that you should have used a comma instead of a period in the phrase…
Everything else was spot-on.
Thank you for the correction. I was lousy at sentence structure in school.
As to the two thumbs down. Are you just some haters who hate me. Or why not post where you think I’m wrong.
sorry but we’re not there yet. enough people can still squeak by and the govt still has some good snakeoil.
food and electricity prices need to go up a little more.
give it anoither year. about this time next year, we should see enough people out of options that the decline starts becoming steep.
Hyper inflation by 2014 ? ?
I didn’t notice
Nobody outside the US wants to hold the US dollar ? ?
Almost every country in the world has Billions of US dollars in its treasury.
The worlds leading currency !
The worlds reserve currency !
The us dollar UP against many currencies so far this year
eg. US dollar UP about 10% over canadian dollar ytd
US dollar UP about 25% over GOLD year to date [ytd]
again … I didn’t notice
The time to prepare was really a few years ago…now people are so strained and stressed there is little disposable cash left to prepare even if they woke up now. It’s so much harder now but better late than never I suppose.
If you have seen the internet movie “After Armageddon” (use Yahoo search engine as Google don’t work . http://www.youtube.com/watch?v=R8rYaPfFlgo you will notice that the main player in this movie dies from a simple infection. Seriously you need to see this. I thought of this after a week of watching skin on my hand get infected and finally broke down and went to doctor. I mentioned that antibiotics would be good in first aid kit. He prescribed potent antibiotics with refill. Cash and change should not be ignored so some stock there. If things get really bad real medications need to be stocked. Forget first aid kits with 1″ bandaids. Put your own kit together with 3″ bandaids,gause,etc. My kit is stored in a waterproof box. It’s not all beans and bullets.And please watch this movie-no Hollywood just some scary stuff.
I’ve watched it about three times now. Almost painful to watch as the family makes almost every mistake in the book.
To be fair. The community they made it too in the end should be distilling alcohol and have some to splash on the wound.
One wonders about an EMT who just washes off a wound in the sink and waits till he’s burning up with infection to do anything else. Yes, this is a movie that shows attempts to show that you can do everything wrong and still make it. More leftist thinking that your life’s path is just dumb luck. Kind of like the pol who talked about “those who have won life’s lottery”
after armageddon presents a very likely scenario. agreed, EVERYONE should watch it.
I have had a deep wound. The doctor did not give me antibiotics at all. Every visit, she sprays Dakin’s solution over the area and wipes it down with sterile gauze. Then she put silver powder all over the area and into the sore. Then she wrapped the area with gauze containing zinc oxide paste. To collect drainage, she covered everything with #3 Pampers that she ripped the elastic from. I have gone from worrying about losing my leg to being almost cured. This week she changed from the gauze to just using a zinc oxide cream called Calazime. The huge sore now has a 4-inch Bandaid on it.
Dakin’s solution can be made at home. The ingredients are Clorox, baking soda, and boiled water. The solution breaks down quickly and is light sensitive, so you need to store the ingredients, not the solution itself.
I would stock up on the ingredients for Dakin’s solution and stock some Calazime. You should already have gauze.
The #3 Pampers are a good size to wrap around legs and are cheaper than medical dressings. When you tear the elastic from the edges of the diapers, be careful not to rip into the absorbent material. It will come out and make a mess. If you do rip one, just tape it closed. If you need to cover even larger areas to catch drainage, adult diapers, such as Depends, can be used. You have to use scissors to trim the elastic and edges all around them. You can also cut the Depends in half, but you’ll need to tape the cut edges shut.
Search for Dakin’s solution on the internet and you’ll find instructions. Johnson & Johnson has an interesting history article about how Dakin’s solution saved soldiers’ legs during WWI.
Zinc oxide is a major factor in new tissue growth, (i.e. healing). As is Vitamin E. Both found in Desitin ointment. Stock up.
Deep wounds need air. Close them off, and anaerobic bacteria have a field day.
Dakin’s solution is a new one to me. Thanks for that tip.
Now this is the old site I remember. Less complaints and more real usable information.
WHAT DO YOU MEAN BY THAT, MIKE ????
Much as I respect and admire John Williams, I am forced to disagree with him on this. A recession is not COMING, it is already here and has been for the past 5 years. Yes, Wall Street and the big NY banks have been rolling in trillions of freshly printed Fed largess but Main Street has not participated in this at all. We have the lowest labor participation rate in 38 years, which is to say not since the absolutely dreadful Carter regime was in power has it been even close to this low. The average American has seen their take home pay drop for 5 years in a row. Personal debt is at an all time high for Americans. National productivity is falling and not rising. Tax receipts are down because fewer people are working and many of those who are working are either in lower paying jobs or are working fewer hours now. Add to this that REAL inflation, and not the BLS BS, is running at double digits. All the while this is happening, our dear leader is telling us that things are fine, the economy is recovering, and all will be well soon. Personally, I stopped believing in fairy tales about 60 years ago so am pretty much immune to BS of any kind. Hopefully, many other Americans have too.
deja moo….we’ve heard this bullshit before(wink to eppe). many don’t realize that houses are priced at roughly DOUBLE right now. since our housing troubles bagan in 2002, we make WAAAYYY less money, inflation adjusted. when interest rates go back to “normal”,(whatever the hell THAT is)in other words, when people get PAID a decent percentage for renting their savings to the bank, houses will fall back to 1980 levels. anyone thinking about buying a house right now should read patrickdotnet’s housing crash page on “why it’s a terrible time to buy an expensive house”
http://patrick.net/housing/crash1.html
everyone in america should have to read these pages after they graduate, before they can own a home. if you follow the links and read all the pages, you will be an expert on the housing market….REALLY. this info is PRICELESS, maybe even MORE expensive…..and it won’t take more than an hour or two.
denninger has a great piece on houses today too.
http://market-ticker.org/akcs-www?post=229033
I figure that TPTB will keep it together until after 2014 midterms. Looking at it from a geopolitical standpoint, with China and Russia both swapping spit on their latest Natural Gas deal, Russia proposing to build 8 or 9 more nuclear reactors for Iran; it has to have some of TPTB Oligarchs rather upset OR their inside man is siding with Putin. What does this have to do with the pending economic demise? Plenty. TPTB know what strings to pull, whose string to pull and at what time to extract maximum amount of profit from their “investment” in whichever political / national event they have.
Current administration sees the writing on the wall – they know that they cannot keep the lid on the economic and employment sham much longer. They also know that they cannot abide anyone speaking out against the sham. Hence the mass purchases of ammunition, firearms, etc.
As Be Informed iterated above, it is foolish to look for a set date in stone as to “when”. It behooves us all to watch for the signs indicating the start of collapse.
As regards figuring out those signs, TPTB are manipulating the facts, data so as to obfuscate the true signs. Some call it “misdirection”. Myself? I look at PM’s for a sign or three. Same with Copper, as well as the Dry Goods Index.
Don’t have the latest data on DGI, but from last I saw on Zerohedge, it wasn’t doing too good – that is the stuff that’s made and is sitting on docks waiting to be shipped to market. If it’s not going anywhere inside of 3 months or so, then the receiving country hasn’t the money to buy it. That’s another indicator of how the economy of the U.S. is doing, btw.
Cat Herder
baltic dry index if anyone wants to google it…oh, hell….here’s the link to wiki on it. herder is right, it’s a very good indicator of retail activity. thanks for the heads-up cat.
http://en.wikipedia.org/wiki/Baltic_Dry_Index
The melt value of nickels has been above 5 cents for a few days now. Check the values of copper, nickel, zinc, and silver at coinflation (dot) com.
Arch,been saving nickels for years,they are finally getting around to ruining even the nickel as far as metal content.I also save pennies 1981 and back,large percentage of copper that was also removed after 1981.Sure,may not add up to a lot unlike gold/silver but figure every little bit helps.
I’m starting to wonder if I should buy the boxed set of Conway Twitty’s greatest hits (5 CDs) or just get the single ‘Best Of’ disc. It takes a lot longer to hear the box set and maybe there isn’t enough time lef-
IMHO Armageddon is preferable to either one. To steal a quote: “I don’t like country western but I’d never denigate people who do. For country western fans denigate means; talk down to.”
I like to mix it up. A little classic rock one day, then old C&W the next. Keeps my ears guessing what’s next.
Personal favorite of the new crop of country is Don’t Rush (Kelly Clarkson and Vince Gill) Got a good night club sound to it… Now there’s some plastic-coated, over-produced, big money Nashville sound for ya!
Bottoms Up ain’t bad either….
Did you mean denigrate?
denigrate:
noun,…. to remove the current prezdent from office….that kind of denigrate, Laeagle?
Take me down……..
damn, smokin’, hope i got time to make love to my wife one last time!!!
You’re about to enter a new dimension. A dimension of debt. A dimension of inflation, of currency devaluation. A dimension of economic chaos that goes beyond your imagination. You are now entering…. The Obama Zone! (cue music- deedle deedle, deedle deedle)
Remember, this economic crunch is BY DESIGN. Maybe the PTB don’t want a total crash, but they need a serious slump from time to time. It allows them to repossess the tangible assets accumulated by the middle class. And, with a foreign-born Marxist at the helm, of course America is economically screwed.
He gets to pursue his utopian socialist dream, while his handlers get ownership of a bigger slice of the pie. (they never intended us little people to have more than the crumbs anyway)
Only advice I’m giving anyone is to be as self reliant as possible. Grow your own food. Pump your own water. Tend to as much of your daily needs as possible without outside help, and without paper currency. If you got a bit of fiat on hand, that’s okay. And silver is still nice and shiney. But those come after the food, fuel, medicine and all the rest.
It’s the old Chop wood, Carry water routine. It’s hard work, and not too fashionable, but it’s the best way to survive hard times. But then, y’all already know that….
So I’m just preachin’ to the choir. Sister Mary Elephant will now give her rendition of Rock Of Ages. Followed by the Electric Amish Travelling Ragtime Band, doing a medley of Broadway show tunes.
But first, we shall now pass the collection plate….. Hey! Who put the slug in there!?
It weren’t a slug, I just thumped the bottom of the plate as it past me by.
🙂 I wouldn’t mind if I could use them in vending machines, but it keeps spitting them out! Maybe I can pay for obamacare with them…fake money for fake medicine- fair enough.
Funy, SmokinOkie. …But if you’re wastin’ your money buyin’ boxed CD sets… all I can say is,… WtFh?
Anyway, if you’re goin’ all out, you got the ‘Convoy’, right? What a magnificent piece that was. The little guy against the empire.
It was soo 70’s, soo unlike today where the little guy is portrayed as someone who should always give in to empire and is the bad guy (empire is, ‘code word’ for the local bastard rip-off in most areas). Or, in Hommer-esque speak: “Boot-to-the-head”.
C W McCall. What a song! Had a young trainee with me a while back, he’d never heard it before, thought it was hilarious!
‘Cab-over Pete with a reefer on, and a Jimmy haulin’ hogs’
(he said ‘What’s a cabover pete?’ I just rolled my eyes)
‘And eleven long-haired friends of Jesus in a chartreuse micro-bus’
(I had to tell him the song was referring to a VW van)
And, my student was howling when they got to this part-
’10-4 Sodbuster. Listen, you wanna put that microbus in behind that suicide jockey? Yeah, he’s haulin’ dynamite and he needs all the help he can get.’
Definitely a teachable moment for the younger generation!
Imagine being a trucker a year after collapse. Only 10% of the populace still alive. Delivering goods between government run cities. Talk about lonely and dangerous. Probably being in armed convoys.
Only issue I have is; there won’t be any truckers driving between big cities. There won’t be any big cities. In a 90% die off, How can there be? I figure the largest continuing cities will be about 50,000 and they will be ones in the middle of nowhere. Like Casper Wyo. We have water power, wind mills, small refinery, oil, gas, coal, cows; wheat and corn close.
I am afraid the years to get prepared were 2005 to 2006. Those who were paying attention to the global economy were already on high alert then. When the crash hit in 2008, they made their moves: akin to having a shopping cart in a supermarket after closing time and getting a couple of hours to steal everything you can before the security guards turn up. We have now passed through that phase. The security guards are getting ready to come into the supermarket and see what sh#t has been going on.
It is now time to get into the redoubts, have a very low profile and stay away from anywhere the hoards are growing in size and in resentment. The concept of the US – a Smartie box of people who all can have an upper middle class lifestyle – is dead. People will find the corporate structure does not need or want them. In fact, advances in technology and science dictate the need to radically reduce the population to sustainable levels. The government will lie, print, deceive, increase controls etc. but it will be to no avail as the forces of science and technology take hold. The analogy is this: you could be the best horse shoe maker in the world – a craftsman of no compare. But as soon as Ford rolled out the Model T car, you were doomed. This is what is happening in technology: human beings can be force multiplied but this will only work for some. It doesn’t work with the majority, who are ill educated, ill behaved and short-termist.
Gotta dig the bunker a little deeper…..
great article from the Daily Sheeple
The Robots Are Coming, And They Are Replacing Warehouse Workers And Fast Food Employees
http://www.thedailysheeple.com/the-r…ployees_052014
this is all part of the economic disaster for the middle and working class
manufacturing has been destroyed in this country and now even the more menial jobs are going to disappear
what’s left ???
young people need to choose their career paths VERY WISELY
they don’t know what they’re talking about. i just got a new job rewinding videos in a video store. it was a step up from painting numbers on curbs job that i HAD! all this time i been worried, but the naysayers here on SHTFPAN finally convinced me everything is lookin’ rosy….what could POSSIBLY go wrong?…robots! PFFT! i aint skeered o’ no robot!
and just more evidence that everything about our financial system
involves fraud on some level
Barclays Fined For Manipulating Price Of Gold For A Decade; Sending “Bursts” Of Sell Orders
http://www.zerohedge.com/news/2014-05-23/barclays-fined-manipulating-price-gold-decade-sending-bursts-sell-orders
John Williams is the guy I respect the most when it comes economic forecasting.
Some people laugh at predictions but the timing of the events is the most difficult part of forecasting. It’s like grandpa is 80 and he has cancer. Will he still be alive by the 4th of July or Labor Day or Thanksgiving or Christmas? Nobody can predict that with 100% accuracy.
Now is a good time to buy whatever stuff you don’t have yet, if you have the money.
well said, barncat!
I am an old man and been through several booms and busts. The difference now is a 17 trillion plus debt and growing, freeloaders out the ass and a nihilistic society with no moral basis. I have never been this pessimistic.
Let me add some things about the difference between back when I was younger and now:
Drugs: There has always been drugs available. Pot Pills Acid Heroin Coke, you name it. For some reason it has become out of control now. You could buy Paregoric (tincture of opium) over the counter.
Marriage: Back then the wife usually stayed home with the kids while the husband worked.
Homosexuality: There were queers (what we called them) but they kept it on the down low. One of the first questions at MEPS was “are you a homosexual?”
Jobs: If you couldn’t get a job back then you were lazy beyond compare or disabled
Safety: I remember when I was 5 riding my tricycle around the block all alone because the neighbors looked out for you. Also you could order guns through the mail. No background checks no nothing.
Race relations: I remember the riots in the early 60’s but for the most part there was defacto segregation.
Gas: 25 cents a gallon unless stations close together had a price war.
Cops: The cops were rougher then on criminals but in my little town the police never came on your property unless called. I remember walking through a residential with my Pappy carrying rifles and the cops just waved. DUI was .15 but a lot of times you could weasel out of it by being contrite.
Mafia vs. gangs: the mafia was big back then but at least had a code of honor unlike the gangs now. Women and children were off limits. They weren’t angels by a long shot but not even close to the violence of the black and latino gangs today. They generally killed each other or some idiot that got into debt and didn’t pay.
Things started downhill with the hippies/leftists/commies that graduated back then and are now running the country
I remember all that too. I suppose the bright side is that, while it’s going to get a lot worse, I won’t be alive to see it.
“I have never been this pessimistic.” I am of the mind that this time is different because there is not any industry that can “save” us. We had the dotcoms, the industrial age, the housing boom, energy booms, but now I see a world that is tapped for resources, food production about to take a huge hit because the oceans are all but dead,(Fukushima) drought across California and Texas that is looking to be severe, fuel prices inching towards the economic death price of 4 dollars again, nations openly discussing the nuclear option as if it is just another military skirmish, and the rush to squash any and all uprising of the people against the oligarchs with the militarizing of the “national defense force” that Obama promised us. When it crashes this time, and it will as it always does sooner or later, all the QEing in world will mean squat as the masses will loose faith in the fiat and the thuggish henchmen will come out of the police forces with the orders to shoot first and the hell with questions. NOW THAT is going to make for interesting times.
How and when the end comes is not relevant; because it is going to happen period. Get prepared for it no later than yesterday. The way I see it us, (short timers) we will extract a heavy toll on the (lifers) in the beginning (just because), but soon survival will really take over and then we are all screwed, why; because (it will hit home), there will be no getting back to normal; won’t happen. The best we can hope for is a new normal, but I fear what that will be.
River Rat at the ready!!!
River Rat.
Short Timer’s and Lifer’s
Oh, Yeah!
We are in a depression, and we’ve been in one since 2008. Nearly 50 million people on food stamps. Nearly a quarter of the nation out of work. Most people unable to buy necessities without the “aid” of a credit card. Sticker shock every time I visit a grocery store (inflation is HERE, it is not “coming”). The word “recession” makes me want to gag.
Regardless what is said or posted.
Hyperinflation is coming around the corner.
Buy what you can afford because the day is near where you will not have the purchasing power as you and I have this day.
You have to consider the damage to crops by the weather, EPA regulations and misleading consumer information from the government.
OH NO !!!!!! not ANOTHER warning !!!!
i have stated emphatically that the economy will stay status quo until several key things are in place and every year PROVES me right with more non events !!!
i stated last year that we would NOT go to war with syria because of the CHINA/RUSSIA FACTOR and i was ridiculed but damn was i dead on right on that one !
I am now starting to think that this transformation may not even happen in my lifetime as COMMIE CORE is quite clearly a RE-education attempt at the new generation .
we are now hearing about obama looking for a 3rd term in 2016 , so why even talk about a 3rd term if the plans are to collapse everything soon and the answer is that everything will remain status quo until at least november 2016 and thats ALOT of doom articles between now and then . Im not saying things arent bad and getting worse BUT this is and has been a plan in the making for decades and could quite possibly be decades more ……the name of the game is INCREMENTALISM …..teeny tiny baby steps over DECADES !
my only concern now is climatological …PERIOD !!
thanks for the soothing words rich99….read my post above.
Obama can only obtain the possibility of a “third term” if the country is in absolute chaos that requires the elimination of the FAKE elections and most likely, the implementation of martial law/civil defense of the country according to HIS declaration.
I wonder, how could this possibly happen anytime soon???
I like Williams, I think he has a LOT of important thingss to say, and think eventually he will be proven right. However, in the shorter term, I have found his predictions to be WAY off. Of course, as the scamster Keynes said, the market can be irrational longer than you can remain solvent! So, I continue to read him, but his shorter term predictions (not the statistics he reports, BTW, just the predictions based on that data) have, in many cases, proven woefully wrong.
SURVIVAL GUIDE – 7th Update
https://www.quickleak.org/0lOwG8RX
This is a great collection of what you need to know to get sh*t done and learn what you need and where to get it.
I recommend people with IRAs and 401k(s) to withdrawl that money and start taking steps to harden their houses and store assets and silver to survive the economic fallout.
Actually, I think we’re probably already insolvent. We’re held up by some fancy foot work by the Globalists. They’ll yank the rug out from under us when they’re ready. Until then, enjoy.
Krauthammer on Obama’s ‘Epidemic of Incompetence’: ‘The Buck Stops Nowhere’
“Charles Krauthammer commented on President Barack Obama’s statement earlier in the day to the ongoing VA Hospital scandal. Krauthammer indicated that Obama seems to avoid accountability for the shortcomings of his administration and this is the latest example of it.”
“I think what it is — it’s an epidemic of incompetence and neglect precisely because as every one of these other scandals unfolded the administration mouths words about accountability, talks about responsibility. Some people like the secretary of state, even the president, say the buck stops here, but the buck stops nowhere because no one pays, no one is fired, no one is demoted.
The only person who got hurt in the Benghazi affair — hurt in terms of his career, was the guy in Tripoli, [Gregory] Hicks, the number two man who blew the whistle, the man who was so distressed, the man who essentially heard his colleague dying at the other end of the phone, essentially. He got demoted because he said the truth. And that’s what happens. Once that happens in an administration, it becomes epidemic and no one is responsible for anything so why should anybody stick their neck out?”
http://www.breitbart.com/Breitbart-TV/2014/05/22/Krauthammer-on-Obamas-Epidemic-of-Incompetence-The-Buck-Stops-Nowhere
@ KY mom ~ Thank you for your post and link.
I think very highly of Charles Krauthammer.
I listen to him as often as I can.
He has a clear, knowledgeable intelligence about him.
He does research on Obama and other political topics.
He is not nasty or a nut case.
He calmly explains Obama and his administration, or,
other current topics in ‘Plain terms,’ that a layman such as myself can understand.
I appreciate his research, his hard work, and his
discussions.
We keep hearing recession is coming. Hells Bells we never got out of the crash of 07/08. This is a depression that we are in the beginning of.
One other thing about these people that keep saying its coming. Hells Bells we know it! The ? is WHEN! Give us some kind of a date. We have all seen dates come and go and we still are slowly getting further and further behind!
Its spring now get your gardens in. Plant what you can. Store it and barter it for other goods.
If you have trail cams get them out to check on the game in your area. This would be a good time get your hunting rifles and shotguns out to check on the sights.
This is very good time to work off some that winter fat. (boy do I need this)
Now after saying all of that I Pray that we have a peaceful and quit spring, summer, and fall. we know what kind of crap winter can bring if it was anything like last year.
Keep Praying, and Prepping.
A.S.M.S.
Sgt.
Economic recession doesn’t necessary mean SHTF. That should be obvious given the last huge downturn.
Even if a technical recession is imminent things will crash and then stabilize again.
I wouldn’t worry about the SHTF until the recession leads to another peak in US oil production.
When the shale/fracking boom busts there will be a real possibility of SHTF.
Before then you’ve got time to prepare.
World War III will bring about the “Reset” of the global economy. War always does. This time, however, it will go thermonuclear. Better hang on to your hats folks! It’s gonna get rough out here.
Jackhammer do you even read your nonsense that you post …..your post is so typical of what I have been hearing for years that I should make a bumper sticker
Are you saying that what he said is not true? Every time there has been a world war the economies of countries have been reset. Look around the world right now. My God just about every civilized country is in deep financial trouble with massive unemployment and extensive debt with no way out. The U.S. is going down in flames with almost 18 trillion in KNOWN debt and who know’s how much in hidden debt. How do you think the U.S. became so “wealthy” after WW2? Go read some history books and figure it out.
Yes A hole ..what I’m saying about his comment about WW3 is not true …..remember pea brain I’m talking about WW3 and only WW3 pea brain …I never mentioned anything but WW3 pea brain so I don’t know why you are mentioning anything but WW3 pea brain …….go back and concentrate your pea brain on his comment and my response PEA BRAIN !!! Remember PEA BRAIN ….I commented about WW3 ONLY ….PEA BRAIN !!!
Jim Smith
WWII did not make the US wealthy. The aftermath of WWII made the US wealthy as the competition was destroyed and we had almost the only intact industry in the world. Two decades later the vanquished had brand new factories and we spent like a drunk sailor on guns and butter. Its been more or less downhill since then with the occasional technological bump that as soon as possible was transferred to foreign manufacture.
A recession is coming. Boy that’s would be good news. A recession would be a great improvement from the depression we are now having!
OLD GUY maybe you are experiencing a depression in which I’m sorry but it’s NOT nationwide so it can’t be called a depression
we can’t call it a depression because the corrupt US gubmint has defined GDP with figgers that say when you PRINT/BORROW money, it makes/results in a POSITIVE to GDP…as if there is no piper to PAY for the BORROWING of that money, PEABRAIN. take away the borrowing/printing MORE money, debasing our currency, and we’ve been not in a recession, but a DEPRESSION for over 10 years now. why do we wonder why so many homeless people in america now…the shit done aready hit the fan a decade ago!!! not to say it aint gonna git a WHOLE LOT WORSE, and SOON….an IDIOT could see THAT…possible even a CONGRESSMAN.
SOON HUH ????? hahahahahahahaha …….now WHERE have I heard that before
John Williams….with all due respect Sir but where have you been? Recession? How about depression but cover up? Also recession as you have stated never went away expect for the POS section of the minority elites for many years now. As the economist you either are stupid or are covering up for your masters stating recession will be back. People were screwed and will get more screwed due to the bla bla bla of EXPERTS like you.
Newsflash: The recession has been here for several years. There is a huge public employee retirement DEFICIT that not a single state retirement system can pay for, much less manage effectively. It will collapse. The federal retirement system is close to the same, except Congress will keep appropriating “money” to “fund” that deficit spending as well.
Our family buys precious metals because their intrinsic value is greater in any market, than the paper or bytes used to pay for them. It’s wealth protection at it’s best in this current financial situation. We decided to keep minimal amounts of funds in bank accounts, due to the Cyprus Haircut Experiment. It will indeed happen here, over a weekend, then the following week, WILL be a “bank holiday” so that no one can access their funds until after the Government at the “request” of the Federal Reserve(yes it IS a private entity and NOT any kind of a governmental agency with it’s own PRIVATE police force, with full national police authority in all Fifty states and territories.(look it up boys and girls it’s true)
If you don’t currently hold your assets personally, you will not “own” them when the Magic Curtain of Illusion comes falling down under it’s own weight.(and it always does) Get as much food, water, and other supplies on board right now for your own family, household. Have your own means of self-protection and a means to guarantee YOUR Constitutional Rights.There will be no “public safety” there to “protect” you and your loved ones, when the Crash occurs. Pray for the very best, Plan for the very worst you can imagine, reality, will be someplace between those two extremes. Stay strong, the proletarians in D.C want us to fight each other, instead of them.
YOU ARE ALL WRONG THIS IS WHAT HAPPENS!!!BABYLON THE NATION
1. Babylon would be the youngest and greatest of the end time nations (Jer 50:12).
2. Babylon would the QUEEN AMONG THE NATIONS (Isa 47:5,7; Rev 18:7).
3. Babylon would be the most powerful nation in the world (Isa 47, Jer 50, 51, Rev 18).
4. Babylon would be the HAMMER OF THE WHOLE EARTH (Jer 50:23; Rev 18:23).
5. Babylon is called a lady, and has the symbol of the Lady (Isa 47:7-9).
6. Babylon would be the praise of the WHOLE EARTH (Jer 51:41).
7. Babylon is center of world trade (Jer 51:44; Rev 17:18; 18:19).
8. Babylon would grow to be the richest nation in the world (Rev 18:3, 7, 19, 23).
9. All nations that traded with Babylon would grow rich (Rev 18:3).
10. The merchants of Babylon were the GREAT MEN OF THE EARTH (Rev 18:23).
*admin edit for ease of reading – please go here for the rest: http://www.theforbiddenknowledge.com/hardtruth/america_babylon4.htm
These are but a few of the many parameters listed to help us identify this last great nation that the Lord calls BABYLON THE GREAT. America does now, or is in the process of fulfilling each and every one of them. No other nation upon the face of the earth can fulfill these parameters. AMERICA IS BABYLON THE GREAT. There would likewise be a series of SIGNS that would would begin to emerge that would give BIRTH TO, and WATCH THE RISE OF, as well as THE FALL OF AMERICA-BABYLON.HERE IS TNE LINK.http://www.theforbiddenknowledge.com/hardtruth/america_babylon4.htm
John is the same guy who made the same prediction is 2012. Dire and any day now. Go ahead and listen to the guy from San Fran who can’t find his ass with both hands. He likes attention and no doubt he will be right someday. That is if he keeps making inflation predictions every couple years.
Most of what he says is predicated on Russia, China and the rest of the world selling dollars. Unless suicide becomes a great economic idea, this will not happen. See you in August and told you so.
I have great respect and admiration for John Williams but must disagree with him that another recession is *coming*. It’s already here and it’s been with us since 2008. Yes, the stock market has been levitated by freshly printed Fed currency but the fundamentals of the companies that form the stock market are mediocre at best. With all time highs in the market while production, employment, business investment, average take home pay, and tax receipts all lagging, this is no recovery. It hasn’t gotten better under the current regime and it isn’t going to get better. Ronald Reagan ended the “malaise” of the Jimmy Carter years and we desperately need a return to those same principles to get this economy restarted. If we get a dose of Hillary, even for 4 years, we’re done. That’s all. It’s over. Will the last one to leave please turn out the lights, if the power is still on.
Most Americans, those few who still have a job, are living from paycheck to paycheck and still going in debt.
Unemployment and inflation rates are wrong and the USG continues to lie about them. Does anyone trust what the USG says any more?
You could definitely see your enthusiasm within the article you write. The sector hopes for more passionate writers like you who are not afraid to mention how they believe. All the time follow your heart.
I like Williams, I read Williams, and I respect him. However, he HAS made a LOT of predictions that have not come true. I expect this one will eventually come true, at some point to some degree. However, as Yogi Berra said, it’s hard to make predictions, especially about the future.
All USG figures are lies or down grader at a later date. Does any believe the inflation rate or unemployment rate any more?
no collapse of dollar because the Amerikan Empire rules the world. Our military muscle (taxpayers spend much money and I hate to see it go to waste)will ensure that other countries accept our money. Our Banksters also control the world, look at Putin making nice now.