Retail sales continue to decline, when compared to wages we can see as wages are dropping so are sales. GE is in trouble, they do not have enough to meet their pension obligation.
Caterpillar posts a positive sales after 54 months of declining sales, this was accomplished by China ordering equipment most likely a one off order. SocGen says interest rate to slow to contain the asset bubbles. Citi explains why the credit impulse going negative is very dangerous for the world economy.
The last two times this happened the US entered a recession and it is happening now. The US is in a recession the Fed, corporate media and US Government just don't want to admit it.
They don't want to admit it because they can then come in and scoop up the foreclosers that they sold to unsuspecting people.
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"its the ccciiirrrrclllee of strife."
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This post received a 3.9% upvote from @randowhale thanks to @lvl! For more information, click here!
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LOL
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Round and round it goes!
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Thanks for steeming this @x22report ! Long time listener. Keep up the great work!
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If Us economy is bad, than why FED presidents like Dudley talk positively, oh right they lie :). Retail sales, Autos, Housing all in trouble, but US stocks are at all time-high. Give me a break. Great video.
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My local mall is just depressing. It is literally 70% empty store fronts. Not counting the one anchor store that went out last year and was replaced by a Gym and a hair stylist school. So I don't count that as retail........or the one Halloween store that is only open 3 weeks a year. Its really scary and sad. We don't even have mall walkers.
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Times are changing. I will miss the mall but time to move on.
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Thanks Dave, for all the work you do to keep us informed.
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Thanks Dave. Upvoted and resteemed.
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The country is going to HELL and I don't like it!
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See the full rankings and details in The Daily Tribune: Jun 21 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Thank you Dave, we have been listening to you since # 735, we have learned so much from lisening to you every night, it is heart breaking what happend to America, Europe and the Rest of the world. It is horrible for every body out there. My grandson was born today.( by the way his name is going to be David). I dont know what his future holds, Im worried. Pray to God to guide us.
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upvoted!
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Thanks for steeming this!
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Good financial advice Dave, I'm always interested in the new collapse news.
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To be fair, I feel that this applies to pretty much the entire world economy, and shouldn't come as too much of a surprise, as it is the inevitable result of the continuation of the western industrial worldview and capitalism within a finite resource environment.
Our hopes now lie in innovation and technological breakthroughs, as it doesn't seem possible to fix things with the same methodologies and systems that have broken them in the first place.
With regards to America in particular though, I wouldn't worry too much as long as the petro-dollar holds, and don't forget that the US has all the guns, which looking back at history seems to TRUMP having a strong economy.
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As always great commentary on this continuing calamity...thanks again Dave :)
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