🇺🇸 US permanent job losses for September +19.9% YoY!
H/t: @GameofTrades_ #unemployment #recession pic.twitter.com/yiGI442L5M
— Alex Joosten (@joosteninvestor) October 15, 2023
via FOXNEWS:
As the White House continues to tout the alleged achievements of the president’s “Bidenomics” agenda, a growing amount of data indicates that a gigantic economic crisis could be right around the corner.
Most disturbingly, one important economic indicator that’s currently flashing hasn’t appeared since the 1930s, during the height of the Great Depression.
If the White House and Congress do not cut inflation-causing government spending soon, the results could be catastrophic.
Historical Context
In 2020, during the height of the coronavirus government lockdowns, President Donald Trump and the Democratic-led Congress spent vast amounts of money to keep the economy, financial system and stock market afloat. Trillions of dollars in additional government spending occurred, all of which was financed with debt and money printing.The never-before-seen levels of money creation were fueled by policies set by the Federal Reserve, which encouraged Congress to spend more money and kept interest rates extremely low, despite warnings from economists about the threat of future inflation.
When President Biden entered the White House in January 2021, it appeared that the economic crisis caused by the pandemic lockdowns would end soon. A COVID-19 vaccine had been developed, and many states had already started reopening or preparing to reopen their economies.
🇺🇸 Update on #liquidity vs S&P 500.
Suggests headwinds for the stock market.
H/t: @LanceRoberts #SPX $SPY pic.twitter.com/Wn4YhqS2JC
— Alex Joosten (@joosteninvestor) October 15, 2023
#recession … #GFC2 US edition
The similarities to 2008 keep piling up! t.co/tBtGcuv0z5 pic.twitter.com/cvXU7Xl4AF
— Invariant Perspective (@InvariantPersp1) October 15, 2023
🇺🇸 S&P 500’s path to trough after 10Y3M Treasury yield curve inversion going back to 1969.
⬇️
H/t: @ChengWeiChin1 pic.twitter.com/aswwa488qH
— Alex Joosten (@joosteninvestor) October 15, 2023
💶 Eurozone credit impulse for non-financial corporates & households show downside risks for GDP growth.
Credit crunch!
H/t: @jsblokland pic.twitter.com/Jg6i7bck7t
— Alex Joosten (@joosteninvestor) October 15, 2023
"Inflation is going to be persistently higher," said Bill Ackman. pic.twitter.com/6CuMYxTWLc
— Win Smart, CFA (@WinfieldSmart) October 15, 2023
I want to remind everyone what will happen IF the Fed pivots to bailout, which is far from certain.
It's a bull trap: pic.twitter.com/M1mjuSmVNs
— Mac10 (@SuburbanDrone) October 15, 2023
The S&P 500 is currently caught in a falling trend channel in the short term.
A World Economy in Trouble Points to Global Catastrophe
Global economic turmoil looms with the U.S. facing a dangerous spike in Treasury yields and a potential credit crunch, China navigating a burst housing bubble, and Europe teetering on recession and a renewed sovereign debt crisis. Concurrent crises in key economies may plunge the world into a severe financial disaster by mid-next year, demanding urgent, yet currently unforthcoming, policy responses.
h/t TonyLiberty