(Michael Snyder) No matter what happens with the U.S. economy, most of the credit or the blame is going to go to President Trump. And now that the U.S. economy appears to be headed for big trouble, the mainstream media is salivating over what this could mean for Trump’s chances of winning in 2020.
economy
“This Is The Worse I’ve Seen It” – Recession Imminent As RV Industry Crashes
(Zero Hedge) To elaborate more on our July report titled “Trade War Chaos: Trump’s Tariffs Crash American RV Industry,” it seems the RV industry continues to flash a recessionary warning light.
11 Reasons Why So Many Experts Believe That A US Economic Crisis Is Imminent
(Michael Snyder) The numbers are telling us that we have never been closer to the next recession than we are right now. The storm clouds that were gathering on the horizon are now directly above us, and suddenly the mainstream media is filled with stories about when the next recession will begin and the effect that this may have on President Trump’s chances of winning in 2020.
12 Reasons Why Negative Rates Will Devastate The World
(Zero Hedge) It has been a thesis over 20 years in the making, but with every passing day, SocGen’s Albert Edwards – who first coined the term “Ice Age” to describe the state of the world in which every debt issue ends up with a negative yield as capital markets and economies collapse into a deflationary singularity – is that much closer to having the victory lap of a lifetime. Although, we doubt he is happy about it.
When You Get An Email Like This From The Fed, It May Be Time To Panic
(Zero Hedge) Yesterday, in a lengthy article referencing the ongoing dollar and funding liquidity collapse as a result of the aggressive rebuild of the Treasury’s cash balance from $133BN to $350BN in the aftermath of the debt ceiling deal, we said “Forget China, The Fed Has A Much Bigger Problem On Its Hands.”
What Are The Consequences Of Being Named A Currency Manipulator: China
(Zero Hedge) As everyone knows by now, after the market closed on Monday, the US Treasury unexpectedly named China a currency manipulator, which naturally will be viewed as an escalation of the trade war and exacerbate the market sell-off, even if the PBOC briefly limited the selloff overnight by fixing the yuan slightly higher than expected (don’t expect this calm to last).
GROUNDBREAKING: For The First Time In 25 Years, US Treasury Just Designated China A Currency Manipulator
(Zero Hedge) Following the plunge in the yuan overnight, The U.S. Treasury Department on Monday designated China as currency manipulator, a historic move that no White House had exercised since the Clinton administration.
Banking Collapse: A Bank With 49 Trillion Dollars In Exposure To Derivatives Is Melting Down Right In Front Of Our Eyes
(Michael Snyder) Could it be possible that we are on the verge of the next “Lehman Brothers moment”? Deutsche Bank is the most important bank in all of Europe, it has 49 trillion dollars in exposure to derivatives, and most of the largest “too big to fail banks” in the United States have very deep financial connections to the bank.
Hard-Working Americans Sure Do See The Economy A Lot Differently Than The “Experts”
(Zero Hedge) Right now the entire nation is buzzing about the very first debates for Democratic presidential contenders in 2019, and much of the focus of those debates should be on the economy. A total of 20 candidates will participate in those debates, and the vast majority of them don’t have a prayer of actually winning the nomination. Of course all of them will have “plans” for “fixing” the economy, but the truth is that most of those plans really aren’t that radically different from what has been tried in the past.
Rumors of Wars: Iran Shoots Down US Drone, Says “Ready For War”
(Zero Hedge) Update 4 (1615ET): The Iranian government has released alleged video of their military shooting down the unmanned US drone, also showing the alleged path of the drone, which they claim had entered their airspace (US maintains the drone remained in international waters)…
This Wasn’t Supposed To Happen: U.S. Employment Growth Just Plunged To The Lowest Level In 9 Years
(Michael Snyder) If the U.S. economy was heading into a recession, we would expect to see a slowdown in the employment numbers, and that is precisely what is happening. According to payroll processing firm ADP, the U.S. economy only added 27,000 new jobs in May, and that is way below the number that is needed just to keep up with population growth. Of course some in the mainstream media are attempting to put a positive spin on this, but there really is no denying that this is a truly awful number. In fact, we have not seen a number this bad in more than 9 years…
Goodbye Middle Class: The Percentage Of Wealth Owned By The Top 10% Just Got Even BIGGER
(Michael Snyder) The middle class in America is being systematically eviscerated, and it is getting worse with each passing year. As you will see below, one new study has found that 10 percent of Americans now own 70 percent of all the wealth.
10 Myths About Government Debt — According to an Economics Professor
10 Myths About Government Debt — According to an Economics Professor
Despite “The Greatest Economy Ever,” 40% Of American Families Still Struggling
(Zero Hedge) With the economic expansion almost a decade old, the unemployment rate has fallen to five-decade lows, and real wage growth has modestly expanded.
The World’s Central Banks Are Buying Gold At The FASTEST PACE In 6 years!
(Mac Slavo) The central banks of the world have been buying up gold at the fastest rate in 6 years. This is flashing warning signs for the future of the United States dollar.