A web site called The Daily Sheeple has published and article by Michael Snyder outlining the top 12 signs that the economy of the United States is about to fall back into recession. If one believes the economy has ever come out of the “Great Recession” that started in 2008 and has been made far worse by the misguided economic policies of one B. Hussein Urkel, then one can surely say the economy is headed back into recession. Otherwise, I view us as having been in the recession since, that there has been no true recovery, and these signs show that we are going to soon be deeper in recession. As Mr. Newt said often during the 2012 presidential primary debates for the GOP nomination for president, this is really the Obama Depression we're in, and is getting worse.
Snyder seems to agree with me that the recession never really ended, writing in that article, “...it is important to note that there are many economists that believe that the United States never actually got out of the last recession. For example, data compiled by John Williams of shadowstats.com show that the U.S. economy has continually been in recession since 2005. So if anyone out there would like to argue that America is experiencing a recession right now, I certainly would not have a problem with that. In fact, that would fit with the daily reality of tens of millions of Americans that are deeply suffering in this harsh economic environment.”
Here are the 12 signs of coming recession/depression as outlined in the article in The Daily Sheeple:
#1 We recently learned that the number of new mortgage applications in the United States had fallen to the lowest level that we have seen in nearly 20 years.
#4 Obamacare is really starting to hammer the U.S. health care industry…
“The Affordable Care Act is creating significant financial uncertainty to health care organizations,” said a survey respondent from the health care and social assistance industry.
“With little warning, the negative impact on revenue has been unprecedented.”
#5 Trading revenue at the “too big to fail” banks on Wall Street is way down…
Citigroup Inc. (C) and JPMorgan Chase & Co. (JPM) are bracing investors for a fourth straight drop in first-quarter trading, a period of the year when the largest investment banks typically earn the most from that business.
Citigroup finance chief John Gerspach said yesterday his firm expects trading revenue to drop by a “high mid-teens” percentage, less than a week after JPMorgan Chief Executive Officer Jamie Dimon said revenue from equities and fixed income was down about 15 percent. If trading at the nine largest firms slumps that much, it would extend the slide from 2010’s first quarter to 36 percent.
#6 One of the “too big to fail” banks, JPMorgan, is planning to fire “thousands” more workers.
#7 Moody’s has downgraded the credit rating of the city of Chicago again. Now it is just three notches above junk status.
#8 The U.S. economy actually lost 2.87 million jobs during the month of January according to the unadjusted numbers. Over the past decade, the only time the U.S. economy has lost more jobs during the month of January was in 2009 at the peak of the last recession.
#9 In January, real disposable income in the U.S. experienced the largest year over year decline that we have seen since 1974.
#10 Only 35 percent of all Americans say that they are better off financially than they were a year ago.
#11 Global retail sales for machinery giant Caterpillar have fallen for 14 months in a row.
#12 The economic data show that virtually all of the largest economies on the planet are slowing down right now. The following is from a recent Zero Hedge article…
The last 3 weeks have seen the macro fundamentals of the G-10 major economies collapse at the fastest pace in almost 4 years and almost the biggest slump since Lehman. Despite a plethora of data showing that ‘weather’ is not to blame, US strategists, ‘economists’, and asset-gatherers are sticking to the meme that this is all because of the cold on the east coast of the US (and that means wondrous pent-up demand to come). However, as the New York Times reports, for the earth, it was the 4th warmest January on record.
There many strong indicators in those 12 listed above, that we clearly are going to see more economic decline in our near term future. Perhaps the worst factor, the one that has been lied about so much by the Obama Regime, is unemployment. Each week we see more than 300,000 new applications for unemployment filed, and that doesn't represent all that lose their jobs each week considering that some unemployed citizens don't necessarily file applications for unemployment benefits. It has become cliché to say it since the Democrats said it in 1992 when Clinton ran for president, but what we have right now truly is the worst economy in the last 50 years.
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