from Armstrong Economics:
One industry which reflects the same trend that we see in crude oil, the massive deflationary vortex of economic decline, is none other than the wine industry. The wine industry is also suffering from a major glut and here too wine producing real estate has peaked in France back in 2007 and is not scheduled to bottom until 2020.
Real Estate sales in the Champagne region of France with its 300 houses and 15,700 vineyard has continued to decline. There was an initial low in 2009 following the 2007 high with the rebound into 2011 correlating with oil. The wine industry has suffered tremendously within this deflationary implosion confirming that what we see in oil is by no means some CIA plot. This dovetails in with the sharp decline in liquidity in the financial markets as well. All of these signs are pointing to a very serious economic decline ahead that may in fact reach Great Depression levels since we are starting from much higher levels of systemic unemployment.
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