The Great Recession

Let us speak of megabanks and global corporations, chicanery and swine, and speak of how the great have feasted in the troughs of trillions dumped out by the present administration, congress, and the Fed, for 2020 makes the bailouts of the Great Recession look like childhood snacks.  Continue reading “The Great 2020 Bailout Bonanza”

The Great Recession

Hillary was a liar and a crook. By all appearances her campaign paid for and instigated the Great Lie against Donald J. Trump. Her campaign’s fabricated documents cast an intentional shadow over his entire term, pegging him falsely as someone who collaborated with “the Russians.” We don’t know how much she knew about the document her campaign paid for, but certainly the evidence points to her knowing it all. Her lie damaged the American Republic because it created years of chaos and distrust, exactly as it was intended to do according to the head of the CIA. Continue reading “In a World Filled with More Liars than Ever, Donald J. Trumps Them All!”

The Great Recession

Investors will start to realize the economy is not recovering in August, I said. As result, the stock market will break sometime in August or September, I said. It will likely experience an even bigger plunge as an October surprise, I said, because something about October loves a Halloweenish surprise for stocks. Continue reading “Halloween Madness Tears Stock Market to Shreds”

The Great Recession

The major knock-on effects of the COVID shutdown are now starting to stack against each other, pushing city centers into the dust. Here are some of the big moves that are as characteristic of the US as they are of the world overall. Continue reading “Knock-on Effects Knock out Economy Like Dominoes”

The Great Recession

I mentioned in a recent article that the weird thing about this recession is that it is the only one in which personal income has gone up during a recession. That, of course, is because of government assistance, which is making it so we don’t have to feel the pain of a recession that the government, itself, caused — through its massive debt, tax breaks for the 1%, reliance on the Fed to solve government’s problems, and most currently through its forced economic shutdown as a response to COVID-19 — something that even the WHO now says was failed policy that should never have happened — even though they helped make sure it did happen! Continue reading “The Upbeat Downbeat on Housing and Commercial Real Estate”

The Great Recession

Jobs didn’t get much worse in September, but they stopped getting better.
This is a tale of where the recovery road for the US economy ended. Unemployment is the crux of the Covidcrisis economic story. While jobs showed a little improvement in September, a little digging through the numbers reveals the return to full employment has started a turn toward the worse. (Not as bad as “worst,” but “worse” than May-July.) Continue reading “Employment’s Recovery Road Comes to an End”

The Great Recession

It wasn’t just COVID that got us down the road to ruin. Because many think we are in what looks like a post-apocalyptic world of rubble only because of COVID or because of Trump, I decided now would be a good time to summarize how predictably the Fed’s Great Recovery and Great Rewind got us here.

Now that we see the Fed has become too impotent to even risk acting, lest it prove its impotence before the entire world, let us look at how predictable every step down our road to economic ruin has been. This blog has proven that by laying out each turn before we got to it so that, when we got where we are now, we could tell how we did and how one could see it coming. Continue reading “The Path by Which We Got Here”

The Great Recession

All three major stock-market indices completed three consecutive weeks of falling today as we head into fall next week. The NASDAQ, as you see in the opening graph, has set up a clear trend of perfectly aligned closings this week.

This summary of the market in September — the bullseye for my target dates for the market’s big fail — will be short but sour, as I try to focus my writing time on my next Patron Post. I just could not resist commenting on this week’s decisive market close. Continue reading “Stocks are Falling into Fall”

The Great Recession

This graph shows where my mind goes every time I ask myself how far the S&P 500 is likely to fall before it finds a solid bottom.

As you know, I don’t make predictions based on charts, but clearly there is intense convergence of longterm support around the 2,000 level and strong indication of a subliminal desire in the market to keep plumbing the bottom to find that depth. Continue reading “Technically, This is Where I Think the S&P Will Find Strong Support and a Final Resting Place”

The Great Recession

Dave Portnoy is shaking his fist at the stock market, daring it to give him a bigger pounding than it already has — telling his gambling fans how the $700 million he lost on Thursday, and the four-million he’s lost “in a f—ing blink” over the week is just a flesh wound, a mere scratch.

If it’s “just a scratch,” he’s soon going to look like he took a naked marathon run through the blackberry patch. So, it’s a good thing he doesn’t appear to be too sober. He’s going to need a lot more anesthesia before his downhill run is over. Continue reading “Bullheaded Dave Portnoy Gets Pounded with His Own Hammer”

The Great Recession

I rarely mention anytime I’ve been interviewed. However, I was reviewing a casual conversation I just finished with one of my readers, Bob Unger, and I thought Bob’s questions led to a well-rounded expression of how, over the past two years, our economy got to the collapse we are in now, how predictable the Federal Reserve’s policy changes and failures were, why economic recovery has stalled, and why the stock market was certain to crash twice this year, including why the second crash would likely hit around September.
Continue reading “Arrival of the Epocalypse and the 2020 Stock Market Meltdowns”

The Great Recession

I’ve been saying the stock market will take a turn for the worst sometime between mid-August and October. Numerous market metrics now show a market that looks ready to turn over. The bear may soon be back in charge.  Continue reading “Stock Market’s Caged Bear about to Rattle Himself Loose!”

The Great Recession

The Coronacrisis has been a boon for America’s wealthiest dozen, taking their aggregate wealth over the top of a trillion dollars. One think tank refers to them as the “Oligarchic Dozen”:

“The rich get richer” doesn’t even begin to tell the story these days. According to the Institute for Policy Studies, the wealth of the top 12 billionaires in the U.S. recently exploded to more than one trillion dollars — yes, 13 digits…. “This is simply too much economic and political power in the hands of twelve people. From the point of view of a democratic self-governing society, this represents an Oligarchic Dozen….” Continue reading “Coronacrisis Turns Buyback Billionaires into the Trillion-Dollar Dozen”

The Great Recession

Measured by the common man (or common girl), we’re on the road to ruin. The US has been in decline for decades, but you can’t see that by looking at stocks. You can’t tell it from those who lie about the economy to make their living, but look at longterm real numbers, and you see an empire in decline that just got its wobbly legs kicked out by COVID-19. Continue reading “US in Longterm Economic Decline”

The Great Recession

When dinosaurs went extinct, mammals gained opportunity to flourish. Crises for some bring opportunity for others who can adapt to benefit from new environments. I try to enable my readers to position themselves to be the ones who will come out better at the end of this crisis.

Future calamity has already been set in pace by our response to the coronavirus; so you cannot stop the crisis from hurting humanity, but you can still try to position yourself to be one of the new mammals. Continue reading “COVID Brings New Hope to First-Time Home Buyers”

The Great Recession

It’s time to show you’re Fed up! Get mad as hell! Don’t take this any more! Scorch the earth with your rage! Yell from the rooftops! Stick your head out the window and scream! Fight the economic injustice that serves the rich! Kick political asses, and kick them hard! Don’t just whine, do something about it!
Continue reading “You Could Get Mad as Hell and Just Not Take This Anymore!”

The Great Recession

The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said.

“This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges,” said World Bank Group Vice President for Equitable Growth, Finance and Institutions Ceyla Pazarbasioglu…. Continue reading “Drumbeats of the Epocalypse: The Economic Death March Has Come to Town!”