The Phaserl


Another Recession on the Horizon?

from Outsider Club:

Man, what a wild week. Here in Baltimore we just set an all-time record for snow accumulation acquired in a single snowstorm (29.2 inches officially recorded at BWI airport and up to 33 inches recorded in surrounding counties!). Yesterday was the first day I was even able to leave the house (thank God).

And while Main Street was busy panicking with weather woes, Wall Street continued to show its own vulnerabilities, under the pressure of this year’s relentless bear market storms. In lieu of last night’s and today’s rallies, there’s no denying we’ve got a long uphill battle ahead of us this year…

It’s no secret that dismal global market reports — especially when it comes to news from China — have done little to help ease investor concern. Oil prices have been equally disappointing, recently slipping near 13-year lows.

No doubt Wall Street fears have also been fueled largely by the two-day Federal Reserve meeting that began on Tuesday of this week.

Officials appear to be keeping March in mind as a good time to increase interest rates again (note: the committee just hiked its rate a quarter point for the first time in more than nine years last month). Investors seem displeased with this idea as stocks struggle to maintain energy from intermittent rallies this week.

Yesterday alone the Dow Jones Industrial Average fell 222.77 points, or 1.4%, to 15944.46. In total, the Dow industrials have tumbled 8.5% already this year. Additionally, the Stoxx Europe 600 has lost 7% and the Shanghai Composite Index has slid 23% in 2016.

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2 comments to Another Recession on the Horizon?

  • tomche

    “on the horizon?” …where the frick are you, dude? Mars?

  • Christine

    “Another recession…”?

    No, no, no. We’re not jumping from one recession into another one as though they just happened in a vacuum and independently from each other. It’s been sliding down since 2007 (I would even venture to say… since NAFTA), maybe unevenly and with stop-and-go because of the Fed’s numerous interventions but… down it has been going, no matter what. Receding means many things: ceasing to grow (duh!), gradually diminishing (ditto) or moving back or farther away from a previous position (that’s us now).

    We’ve been doing either of the above consistently since NAFTA and none of government’s feel-good numbers and programs have been able to stop that. 911 was the “rational” attempt at jacking up the economy through war in the horribly misguided historical academia “knowledge” that nothing improves the economy of a country like a “good war”. As though there ever was a “good war”…

    If anything, those interventions and programs may very well have aggravated the final slope we’re engaged into now in the last portion of the NAFTA-induced recession after all else failed, hence the speed at which we’ll reach the bottom and how clearly an increasing number of people can stare at said bottom and describe it.

    Contrary to what anyone believes, no one “kicked the can down the road”. All anyone did was to slow down when recession picked up so much speed so fast that people would have awakened too early to what was going on. We all would be well-advised to get to the bottom of the repeal of Glass-Steagall and its fiercest proponents and who made money the fastest from it. Then, we’d know whom to go after. Everything since then has been a dog-and-pony show.

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