NEW YORK (PNN) - September 15, 2016 - Year-over-year growth in retail sales rose just 1.9% (its weakest since March's plunge) and worryingly in historical recession territory. MoM data was disappointing across the entire spectrum with actual contractions versus expectations of gains (Core -0.1% vs +0.3% exp, and Control -0.1% vs +0.4% exp). While clothing and food services saw spending increases, a drop in gasoline spending along with a tumble in retailers down 2.4% MoM and sporting goods weighed the overall index down.
Road to Depression
PORTLAND, Oregon (PNN) - September 13, 2016 - Just like during the last economic crisis, homeless encampments are popping up all over the nation as poverty grows at a very alarming rate. According to the Department of Housing and Urban Development, more than half a million people are homeless in Amerika right now, but that figure is increasing by the day; and it isn’t just adults that we are talking about. It has been reported that that the number of homeless children in this country has risen by 60% since the last recession, and Poverty USA says that a total of 1.6 million children slept either in a homeless shelter or in some other form of emergency housing at some point last year. The stock market may have been experiencing a temporary boom for the last couple of years, but for those on the low end of the economic scale things have just continued to deteriorate.
Worse than the Depression.
September 7, 2016 - Barack Obama is the first president on record to not see a single year of 3% GDP growth. The latest quarterly GDP rate was 1.1%.
At 4.9%, the nation’s unemployment rate is half of what it was at the height of the Great Recession. But that number hides a big problem: Millions of men in their prime working years have dropped out of the workforce - meaning they aren’t working or even looking for a job.
NEW YORK, (PNN) - July 30, 2016 - It’s earnings season once again and it looks as if, as a group, corporate Amerika still can’t find the end of its earnings decline since profits peaked over a year ago. What’s more, analysts renowned for their Pollyannish expectations can’t seem to find it, either.
I thought it might be interesting to look at what the stock market has done in the past during earnings recessions comparable to the current one. It’s pretty eye opening. Over the past half-century, we have never seen a decline in earnings of this magnitude without at least a 20% fall in stock prices, a hurdle many use to define a bear market.
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- Today's layoff news!
- Spain's debt now worth more than value of the economy!
- FPSA homeownership falls to nearly its lowest level in history!
- The FPSA government has a $20.4 trillion retirement problem!
- One quarter of Amerikans in their prime working years are unemployed!
- FPSA existing home sales tumble in warning sign for housing market!
- New home sales unexpectedly plunge!
- Swiss politicians slam attempts to eliminate cash!
- FPSA banks have 247 trillion dollars of exposure to derivatives!
- FPSA CEOs unleash Depression fears in earnings calls!
- Spending was at an all time low for Black Friday this year!
- FPSA services economy slumps to weakest in 13 months!
- Puerto Rico debt bomb about to explode!
- Wal-Mart is closing hundreds of stores and laying off thousands of employees!
- Baltic Dry Shipping Index drops to all-time low!
- The worst ever stock market start is just the beginning!
- Latest payroll jobs numbers are false and misleading!
- Brazil slides into the brink with industrial production down 12%!
- Markets are back at panic levels!
- Baltic Dry Index careens to fresh record low!
- Ailing global economy starts to weigh on FPSA job market!
- The truth about unemployment in Amerika!
- Record 94,031,000 Amerikans not in labor force!
- Canada officially enters recession!
- Dow plunges 531 points!
- S&P 500 drops below trading range as global selloff intensifies!
- Fed official says there is no evidence that QE boosted the economy!
- Overwhelming waves of deflation will suck us further into Depression!
- Why do so many working age Amerikans choose not to enter the workforce?
- FPSA newspapers see more bad news as jobs decline!
- Emerging market currencies tumble to record low in violent selloff!
- Pension funds burn cities as $1 trillion shortfall set to grow!
- Homelessness and empty stores becoming the new normal in NYC!
- Flood of Londoners take to boats to escape rising housing costs!
- Greek contagion across markets muted!
- FPSA debt headed toward Greek levels!
- Puerto Rico says it can't pay its debts!
- Leading British bond fund manager says it is time to hold physical cash!
- More financial insiders warn that a crash is coming!
- Global trend forecaster Gerald Celente on $2,000 gold!
- Greek depositors yank another 600 million euros from local banks!
- Juncker spurns Tsipras request for meeting to stave off default by Greece!
- Goldman Sachs warns too much debt threatens world economy!
- Spain unemployment rate increases to 23.7%!
- McDonald’s closing hundreds of restaurants as sales slide!
- Greek eurozone exit edges closer as markets brace for Athens default!
- Japan bumps China as top holder of FPSA Treasury debt!
- Amerikans not in labor force exceed 93 million for first time!
- More Seattle restaurants close doors as $15 minimum wage approaches!