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Three Clear Signs the US is Back In Recession
Three Clear Signs That the US is Already in Recession
The US economy is collapsing at a pace not seen since 2008-2009.
Retail sales are showing outright deflation, declining at a pace not seen outside of contractions.
The retail sector is not the only sector showing pronounced weakness.
General Electric (GE), JP Morgan (JPM), Microsoft (MSFT), IBM (IBM), Citigroup (C), Johnson & Johnson (JNJ), Intel (INTC), Coke (KO), Oracle (ORCL), Honeywell (HON), Goldman Sachs (GS), and American Express (AXP) have all reported a decline in Year Over Year sales for the second quarter of 2015.
These companies are not unusual in this regard. Across the board S&P 500 companies have posted a 4% drop in revenues.
The damage is heaviest in the commodity sector, particularly energy, but growth is anemic with the exception of healthcare (which is being boosted by the increase in costs due to Obamacare). Excluding healthcare, the largest growth is a mere 2.4%... and that is being concentrated due to a few key players.
This marks the second quarter of Year Over Year declines in revenues: something that has not occurred since the last recession in 2009.
H/T Charlie Bilello
Moreover, even earnings (which CAN be massaged to overstate growth) are showing signs of weakness.
Profit growth for the S&P 500 companies is at its weakest point since 2009. That’s because, in fact, there isn’t any profit growth.
S&P 500 earnings for the first half of the year are expected to show a 0.7% contraction compared to a year ago, according to numbers from FactSet research. Growth in the first quarter was a meager 1.1%, but the second quarter is more than offsetting that, expected to contract at a 2.2% rate, FactSet estimates. The last time the S&P 500 saw a year-over-year decline for the first half of a year was 2009, when earnings positively cratered at the depths of the global recession, down 30.9%.
Source: Wall Street Journal
The above hard data runs completely counter to the uptick in GDP growth shown by Fed's models. These items STRONGLY suggest the US is approaching if not already in a recession.
Stocks are completely misunderstanding this. And by the time they "get it" the markets will be a in a free-fall.
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I like "Assholes get punched in the mouth. The treasonous get the guillotine." way better than the bitch slave motto "Liberty is a demand. Tyranny is submission..".
I fact I demand it!
/Sarc off.
All that QE and all I got was this lousy T-shirt...oh wait, I didn't even get one of those.
All that QE and all I lost was this lousy T-shirt.
By the way; when did we go out of a recession?
The number we are spoon fed and await with such glee has little to do with real growth but most likely mirrors or is merely a reflection of monetary pumping. Like other countries American has continued to move in this direction when it comes to measuring our economic growth. We have allowed numbers that mean "nothing" to seep into how the gross domestic product (GDP) is calculated all in an effort to create the illusion of growth.
The first comprehensive set of measures of national income was developed by economist Simon Kuznets who in 1934 told the US Congress the formula was problematic. Bottom-line in the words of its creator, "The GDP framework is more or less an empty abstraction devoid of any link to the real world." More on just how meaningless and misleading this number is in the article below.
http://brucewilds.blogspot.com/2015/05/gdp-number-is-master-illusion.html
I live in a beachside community in San Diego.
Have noticed a couple of neighbors newly working in "menial" jobs. The 50-something wife at the local grocery chain, out gathering carts in the parking lot.....husband got laid off his CFO job a year ago, saw his resume still up on linked in., So she, formerly of a somewhat snobby demeanor, and a graduate of U of PA, now pushing carts in the hot sun. Their 26 year old son is serving up fish tacos at the local fish market/eatery. He used to just be hanging out and going to community college.
The veneer is getting really thin, but I guess the hope of getting back to "normal" still lingers for the time being.
apparently 885 people got this report. In the past 5 weeks the other 7 billion people on the planet refuse to ask for a copy. Those last 15 reports may end up in the fireplace this winter.
One of the indicators I thought about this week: More and more Whites taking the bus.
I guess thinking back on it it's been an increasing trend for the past couple years, but something finally "clicked" earlier this week.
All of you newly poor whites, ride in the back.
A recession? Considering that we've been in a depression, that's great news!
well actually its a recession inside a depression, so no, thats not good news.
Think of it as another board cracking on the deck of the Titanic.
Hey where'd all those fucking deck chairs go?
LET IT BE KNOWN as of December 1, 2014, under the court decision of August 25, 2014 that convicted the United States Corporation and their officers of fraud, extortion, human trafficking, involuntary servitude, murder, high treason, and crimes against humanity, all corporate governmental, judicial and enforcement powers and authority are revoked and nullified and all such personnel are hereby ordered to immediately STAND DOWN.
Any further corporate governmental intervention into any matter regarding any activity in any of the several states related to the Respublica of Earth, United States of America is now considered a Breach of the Peace.
LET IT BE FURTHER KNOWN that anyone disregarding this ORDER is considered personally liable for acts leading criminality against the People and faces immediate arrest and detainment by the Court of Ages, Earth District Natural Law Peace Officers deputized by the Court which includes all militia and National Guard.
http://www.courtofages.com/usa-orders.html
http://www.courtofages.com/intl-orders.html
http://www.courtofages.com/documents.html
let me know when you acquire nuclear weapons and can actually enforce you orders against a corrupt government that actually does have nuclear weapons.
til then your just engaging in legal masturbation, feels good, but doesn't accomplish much does it?
Awwwk!! Pieces of eight! Pieces of eight!
As long as queer Obama can force feed honnoshit on everyone and suck Reggie's cock while Mike watches he does not care.
I have to say that this summer has been the busiest I have experienced in years here in New Hampster.
There are more MA.ho's CT.ho's NY.ho's and NJ.ho's sitting around here bumper to bumper then I care to count.
And the company I work for has already blown previous records set last year right out of the water.
I think the Dems are trying to make a point that everything is wonderful (just before elections) So I will ride the wave for as far as it will go.
That's a ho' lotta ho's.
who else is your company blowing?
It's because of the four year seasonal adjustment that comes to New Hampshire with the first-in-the-nation primary.
OK - have to call BS on this article. America is exceptional by all accounts. This country will NEVER, EVER have another recession and will definitely NEVER, EVER have a depression. Everything will be AWESOME from now forward. The powers to be have mandated it to be so. Get used to AWESOMENESS!
most people know more about the kardashians, than the economic system which controls their lives.
this is by design and most are too stupid or brainwashed or both to actually see this, let alone ask and contemplate why this might deliberately be so.
think of all the jugheads that can quote career stats for obscure baseball players, but haven't a clue about how they are being robbed economically by a corrupt system. They have the math and comprehension skills but have been focused towards sports minutae rather than comprehension of the world in which they live.
escape or die. Disconnect the television, limit the internet, immerse yourself in the world you actually live in, not the fantasy presented to you by those who control the media.
To understand the world you must know it, not the illusion the matrix presents you with. Are you dreaming in a pod or are you living your life?
You only get one chance to live, there are no do overs.
Not quite up to MDB's standards. You definitely need more flourish to your prose before claiming his title.
Well when you have a bunch of assholes in Washington who read communist Zionist fairytales all their life WTF do you expect?
No, theft, and bull shit.
Oh, how I wish those treasonous criminals were just only "assholes."
Liberty is a demand. Tyranny is submission..
Assholes get punched in the mouth. The treasonous get the guillotine.