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Thread: A Recession Is Expected “By The End Of 2020” “Worse Than The Great Depression”?

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  1. #1
    Senior Member Airbornesapper07's Avatar
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    A Recession Is Expected “By The End Of 2020” “Worse Than The Great Depression”?

    Why Is The Media Warning A Recession Is Expected “By The End Of 2020” That Will Be “Worse Than The Great Depression”?




    The mood of the mainstream media is really starting to shift dramatically. At one time they seemed determined to convince all of us that happy days were here again for the U.S. economy, but now some mainstream news outlets are openly warning that the next recession will be “worse than the Great Depression”. Do they really believe that this is true, or is there some other purpose behind their bold headlines? Of course it isn’t exactly difficult to predict that another recession is coming, because the U.S. economy has experienced recession after recession ever since the Federal Reserve was first established in 1913. But the phrase “worse than the Great Depression” implies that what we will soon be facing will be the worst economic downturn in all of U.S. history. That is a very bold statement to make, and it should not be done lightly. (Read More...)

    That is why I have been absolutely astounded by some of the mainstream headlines that I have been seeing lately. For example, the following comes from a New York Post article entitled “Next crash will be ‘worse than the Great Depression’: experts”
    “We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years,” said Murray Gunn, head of global research at Elliott Wave International.
    And in a note, he added: “Should the [US] economy start to shrink, and our analysis suggests that it will, the high nominal levels of debt will instantly become a very big issue.”
    And here is an excerpt from an article posted on MSN entitled “Experts warn the next recession will be ‘worse than the Great Depression’ and predict it will hit US within two years as $247 trillion global debt outdoes 2008”
    The next recession could put the 2008 financial crash to shame if two experts’ predictions about the worldwide debt of $247 trillion are correct.
    Expected to hit the United States within the next two years, the impact has been compared to the severe worldwide economic crisis which started 1929 and last until 1939.
    It is particularly interesting that the author of the last article chose to use the phrase “within the next two years”.
    That strongly implies that the U.S. economy will have plunged into the next recession before the next presidential election takes place.
    Other mainstream outlets are using similar language. For example, the following comes from a Bloomberg article entitled “Two-thirds of U.S. business economists see recession by end of 2020”
    Two-thirds of business economists in the U.S. expect a recession to begin by the end of 2020, while a plurality of respondents say trade policy is the greatest risk to the expansion, according to a new survey.
    About 10 percent see the next contraction starting in 2019, 56 percent say 2020 and 33 percent said 2021 or later, according to the Aug. 28-Sept. 17 poll of 51 forecasters issued by the National Association for Business Economics on Monday.
    Those are stunning numbers.
    If they are correct, and I have no reason to doubt them, that means that 66 percent of mainstream economists believe that the next recession will strike in either 2019 or 2020.
    Of course those that follow my work on a regular basis already know that there are a multitude of signs that indicate that the U.S. economy is already slowing down.
    I wanted to share another one of those signs with you today. For years, the real estate market in Manhattan was red hot, but now we just witnessed “the fourth straight quarter of double-digit declines”
    Total real estate sales in Manhattan fell 11 percent in the third quarter compared with a year ago, marking the fourth straight quarter of double-digit declines, according to new data from Douglas Elliman Real Estate and Miller Samuel Real Estate Appraisers & Consultants. It was also the first time since the financial crisis that resales of existing apartments fell for four straight quarters.
    Prices fell, inventory jumped and discounts were higher and more common. Real estate brokers say the Manhattan real estate market is suffering from an oversupply of luxury units, a decline in foreign buyers and changes in the tax law that make it more expensive to own property in high-tax states.
    At this point, the housing market in New York City has become “a buyer’s market”, and there are no signs that things are going to turn around any time soon…
    “Offers 20 percent and 25 percent below asking prices began to flow in, a phenomenon last seen in 2009,” wrote Warburg Realty founder and CEO Frederick W. Peters in the report, which surveys real estate conditions around the city.
    Warburg’s report dovetails with separate data showing a definitive cooling in New York’s housing market. The number of homes for sale in the city recently hit a record, according to StreetEasy data, amid fewer sales transactions. Meanwhile, September’s report from real estate firm MNS showed Manhattan apartment rental prices — the most expensive in the city — on the decline.
    Of course this is not just happening in New York City. Home sellers all over the nation are slashing their prices at the fastest rate that we have seen in at least eight years.
    In order for people to be able to afford to buy expensive homes, they need good jobs, and more good jobs just keep getting shipped out of the country.
    For example, Verizon just announced that they will be shipping thousands of information technology jobs to India
    Earlier this week, Verizon confirmed that it offered a voluntary severance package (VSP) to about 44,000 employees and that it will transfer over 2,500 IT staff – some rumors suggest the figure to be closer to 5,000 employees – to India-based Infosys as part of a $700 million outsourcing deal.
    The layoffs and transfers will impact more than 30% of Verizon’s 153,100-employee workforce – as of the end of June – and are part of a 4-year plan to save the largest U.S. wireless carrier $10 billion by 2021.
    If you get angry when you read such stories, that is good, because they should make you angry.
    The middle class in America is being systematically eviscerated, and the U.S. economy is steadily being hollowed out.
    And now the mainstream media is boldly pronouncing that the next recession will arrive within the next two years, and many are suggesting that it will be even more painful than the last one…


    http://theeconomiccollapseblog.com/a...eat-depression
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  2. #2
    Senior Member Airbornesapper07's Avatar
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    it will be timed right before the General Election right on cue
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  3. #3
    Senior Member Beezer's Avatar
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    Let the Dems win and they will bankrupt us before then!

    VOTE RED!
    Airbornesapper07 and Judy like this.
    TO BECOME AN AMERICAN YOU MUST CHANGE YOUR VALUES ...NOT YOUR LOCATION

    STAY HOME AND BUILD AMERICA ON YOUR SOIL

  4. #4
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    Passions run high) It seems to me that now not only our economy is on the verge. Pay attention to the overall situation in the world. Now in all countries there are problems both economically and politically. Right-wing parties rush to power ... It was the same before the Second World War
    Beezer and Airbornesapper07 like this.

  5. #5
    Senior Member Airbornesapper07's Avatar
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    Doug Casey: "This Is Going To Be One For The Record Books"



    "...the Greater Depression will be... well... greater. This is going to be one for the record books. Much different, much longer lasting, and much worse than the unpleasantness of 1929-1946."

    Sat, 05/25/2019 - 21:00
    2 SHARES

    Authored by Doug Casey via InternationalMan.com,

    Just because society experiences turmoil doesn't mean your personal life has to. And a depression doesn't have to be depressing. Most of the real wealth in the world will still exist - it will just change ownership.



    What is a depression?

    We’re now at the tail end of a very long, but in many ways a very weak and artificial, economic expansion. At the same time we’ve had one of the strongest securities bull markets in history. Both are the result of trillions of new dollars created over the last decade. Right now very few people are willing to consider the possibility of tough times—let alone The Greater Depression.
    But, perverse though it may seem, this is the very best time to think about it. The U.S. economy is a house of cards, built on quicksand, with a tsunami on the way. I urge everyone to read up on the topic. For now, I'll only briefly touch on the nature of depressions. There are at least three good definitions of the term:

    1. A period of time when most people's standard of living drops significantly.
    2. A period of time when distortions and misallocations of capital are liquidated.
    3. A period of time when the business cycle climaxes.



    Using the first definition, any natural disaster can cause a depression. So can living above your means for long enough. But the worst kind of depression has not just economic effects, but economic causes. That's where definitions 2 and 3 come in.
    What can cause distortions in the way the market operates, causing people to do things they'd otherwise consider unreasonable or uneconomic? Only government action, i.e., coercion. This takes the form of regulation, taxes, and currency inflation.
    Always under noble pretexts, government is constantly directly and indirectly inducing people to buy and sell things they otherwise wouldn't, to do things they'd prefer not to, and to invest in things that make no sense.
    These misallocations of capital subtly reduce a society's general standard of living, but the serious trouble happens when such misallocations build up to an unsustainable degree and reality forces them into liquidation. The result is bankrupted companies, defaulted debt, and unemployed workers.
    The business cycle is caused mainly by currency inflation, which is accomplished today by the monetization of government debt through the banking system; essentially, when the government runs a deficit, the Federal Reserve buys its debt, and credits the government’s account at a commercial bank with dollars. Using the printing press to create new money is largely passé in today's electronic world.

    Either way, inflation sends false signals to businessmen (especially those who get the money early on, as it filters through the economy), making them overestimate demand for their products. That causes them to hire more workers and make capital investments—often with borrowed money. This is called "stimulating the economy."
    Inflating the currency can actually drive down interest rates for a while, because the price of money (interest) is lowered by the increased supply of money. This causes people to save less and borrow more, just as Americans have been doing for years. A lot of that newly created money goes into the stock market, driving it higher.
    It all looks pretty good, until retail prices start rising as a delayed consequence of the increased money supply, and interest rates skyrocket to reflect the depreciation of the currency.
    That's when businesses start failing. Stocks fall. Bond prices collapse. Large numbers of workers lose employment.
    Rather than let the market adjust itself, government typically starts the process all over again with a new and larger "stimulus package." The more often this happens, the more ingrained become the distortions in the way people consume and invest, and the nastier the eventual depression.
    This is why I predict the Greater Depression will be ... well ... greater. This is going to be one for the record books. Much different, much longer lasting, and much worse than the unpleasantness of 1929-1946.
    * * *
    A financial depression far greater than any crisis America has seen could soon strike. For some it could completely wipe out their savings… and for others it could be the fortune-building opportunity of a lifetime. Doug Casey and his team just released an urgent video on surviving and thriving during an economic collapse. Click here to watch it now.


    https://www.zerohedge.com/news/2019-...e-record-books
    Last edited by Airbornesapper07; 05-26-2019 at 04:45 AM.
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