Economists, Financial Experts, And Business Professionals: Things Are Going To Get Worse In 2013
Controversial Interview Exposes 5 Signs Stocks Will Collapse in 2013
from Money News:
Wiedemer, best known for correctly predicting the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States during the “Great Recession”, provides disturbing evidence in the video interview for 50 percent unemployment, a 90 percent stock market crash, and 100 percent annual inflation . . . starting as soon as 2013.
When the host of the interview expressed disbelief in Wiedemer’s claims, he calmly displayed five indisputable charts to back up his predictions (click here to see those exact charts).
The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably.
Trump, Others Warn: Your Money Is Not Safe
from Money News:
Jim Rogers, Marc Faber, Donald Trump, Peter Schiff, George Soros, Nouriel Roubini . . . men from different walks of life, with different backgrounds and upbringings, and frankly different views on many things — but they all agree on one thing.
America is heading toward a brick wall, and nobody in Washington has any interest in steering away.
Economists, financial experts, and business professionals across the political spectrum are concerned. They know that America must do something and do it fast to stave off a run on Treasurys that would end in runaway interest rates, inflation, or both. While increasing taxes is certainly one answer, quickly raising rates now would be a death blow to our weakened economy.
“We’re all getting into a worse fundamental situation than we had before, and we’re all going to pay for it. Be very careful and worried about 2013 and 2014,” says famed investor Jim Rogers.
And don’t expect D.C. to save you, says money manager Peter Schiff. The politicians have no idea what to do about it. “They couldn’t see this train wreck coming, even though it was staring them in the face,” says Schiff, referring to the housing bubble and subsequent collapse.
Blackstone’s Wien: Markets Will Ail Next Year, Worse than in 2012
from Money News:
Don’t expect the U.S. economy and markets to rebound in 2013 — brace for them to possibly get worse, said Blackstone Advisory Partners Vice Chairman Byron Wien.
The fiscal cliff, Mideast tensions, the European debt crisis and disappointing earnings will bruise the economy and markets in 2013 if not addressed, making next year worse than this year.
“There are quite a few cross currents that we are going to have to deal with,” Wien told CNBC.
“You’ve got uncertainty about the economy generally and then you layer on top of that the fiscal cliff, the debt ceiling, the problems in the Middle East, the uncertainties in Europe, the Chinese transition — there is plenty to worry about.”
The fiscal cliff, a combination of tax hikes and spending cuts striking the economy at the same time early next year, could send the country into a recession next year if left unchecked by Congress.
Leading-To-Lagging Ratio Has Dropped To Recessionary Level
Via Lance Roberts of Street Talk Live,
While the general consensus from the media, and the majority of analysts, is that the U.S. economy will avoid a recession – there have been numerous indicators that have continued to point to deterioration in the economic fabric. Most recently industrial production in the U.S. dropped sharply, along with capacity utilization rates, due to the growing recession in Europe, and slowdown in China, which has impacted exports from domestic manufacturers.
This past week the monthly release of the Leading Economic Indicators showed that the leading-to-lagging indicator ratio dropped to 89.5 which matches the lowest level in more than 2 1/2 years. Historically when the leading-to-lagging ratio has fallen below 91 the economy was either in, or about to be in, a recession.
Horrific Media Spend Data Say There WILL Be A Global Recession In 2013
The four largest ad agency companies have all reported their Q3 numbers, and all of them agreed on one thing: The economics of media spending and the macro-economic picture generally don’t look good
The pattern is ominous: Revenue growth at Interpublic Group just went negative for the first time since the last recession. All the other companies are trending down. GDP growth is anemic — and that number isn’t the government’s final estimate. The final number may be worse.
FABER: 44 Charts That Show Why The World Is Doomed (Business Insider)
Links to 5 charts out of 51 which I find of most interest:
Americans Are Shopping Like There’s No Tomorrow While Food Stamp Recipients Outnumber Populations Of 24 States Combined
An analysis by Breitbart News has found that the number of individuals on food stamps now exceeds the combined populations of 24 states and the District of Columbia.
In November, the U.S. Department of Agriculture reported that a record 47,102,780individuals receive food stamps.
According to US. Census Bureau data, that figure exceeds the combined populations of: Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.
When The Economy Collapses In The USA, The People Go Shopping!
In Greece, with the economy collapsing, the people attempt to push through barricades where their political leaders are meeting:
In the US, with the economy collapsing, the people attempt to push through barricades at Victoria’s Secret to buy panties:
In Spain, with the economy collapsing, the people take to the streets in desperation, where clashes with police break out over austerity cuts:
In the US, with the economy collapsing, the people take to Walmart, where clashes with police break out over cut price deals on plastic cell phones:
In Italy, with the economy collapsing, the people line the streets, threatening to rise up against the elite bankers that have usurped their government:
Need I go on?
Didn’t think so.