The Global Economy Is Absolutely Imploding
The truth is that we are in the early chapters of a brand new economic meltdown, and I believe that all of the signs indicate that it will continue to get worse in the months ahead.
#1 Chinese exports fell by 11.2 percent year over year in January.#2 Chinese imports were even worse in January. On a year over year basis, they declined a whopping 18.8 percent.#3 It may be hard to believe, but
Chinese imports have now plunged for 15 months in a row.
#4 In India, exports were down 13.6 percent on a year over year basis in January.#5 In Japan, exports declined 8 percent in December on a year over year basis, while imports plummeted 18 percent.#6 For the sixth time in six years, Japanese GDP growth has gone negative.#7 In the United States, exports were down 7 percent on a year over year basis in December.#8 U.S. factory orders have fallen for 14 months in a row.#9 The Restaurant Performance Index in the United States has dropped to the lowest level that we have seen since 2008.#10 This month the Baltic Dry Index fell below 300 for the first time ever.#11 It is now cheaper to rent a 1,100 foot merchant vessel than it is to rent a Ferrari.
#12 Orders for Class 8 trucks in the United States dropped by 48 percent on a year over year basis in January.#13 Due to a lack of demand for trucks, Daimler just laid off 1,250 U.S. workers.#14 Even though Saudi Arabia and Russia have agreed to freeze oil production at current levels, the price of U.S. oil has still fallen below 30 dollars a barrel.#15 It is being reported that 35 percent of all oil and gas companies around the world are at risk of falling into bankruptcy.#16 According to CNN, 67 oil and gas companies in the United States filed for bankruptcy during 2015.#17 The number of job cuts in the United States skyrocketed 218 percent during the month of January according to Challenger, Gray & Christmas.
#18 All over America, retail stores are shutting down at a stunning pace. -Wal-Mart is closing 269 stores, including 154 inside the United States.
-K-Mart is closing down more than two dozen stores over the next several months.
-J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.
-Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.
-The Gap is in the process of closing 175 stores in North America.
-Aeropostale is in the process of closing 84 stores all across America.
-Finish Line has announced that 150 stores will be shutting down over the next few years.
-Sears has shut down about 600 stores over the past year or so, but sales at the stores that remain open continue to fall precipitously.
#19 The price of gold is enjoying its best quarterly performance in 30 years.#20 Global stocks have fallen into bear market territory, which means that about one-fifth of all global stock market wealth has already been wiped out.
#21 Unfortunately for global central banks, they have pretty much run out of ammunition. Since March 2008, central banks have cut interest rates 637 times and they have purchased a staggering 12.3 trillion dollars worth of assets.
There is not much more that they can do, and now the next great crisis is upon us.http://www.zerohedge.com/news/2016-02-17/21-new-numbers-show-global-economy-abso...====================================
It is clear, despite what many/most Politicians may say, that the Local & Global Economies are in Decline!
During most of the Modern Economic era, the Economy could be relied on to bounce back, mainly because the large Population Growth would automatically create "Growing Demand" & thus re-ignite Economic Growth.
BUT AS THE GLOBAL POPULATION NOW AGES RAPIDLY, THAT GROWTH IS NO LONGER THERE & AT SOME POINT, IN THE NOT TO DISTANT FUTURE, POPULATION & ECONOMIC GROWTH, WILL ACTUALLY GO INTO DECLINE!!!
Whilst the major Economic driver has been/is Population Growth, there are also other major issues, which are also no longer guaranteed Drivers of BIG Economic Growth, those being -
Energy - Declining Supply Growth & Pricing issues!
Climate Change - The old Goldilock Global Climate, IS NOW GONE!
Technology - Once also virtually guaranteed Economic Growth, But that guarantee is no longer!
So, despite what the Politicians may say, it is also clear that the "old Economy" is dying and there really isn't much more that Governments/Central Banks can now do, having not taken the correct measures over many decades!
Now, the next great crisis is upon us and Governments & CB's have none of the usual ammunition left, so this crisis (GFC2) will prove to be the Great Economic Unwinding!
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