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"15 Signs That The U.S. Economy Is Poised To
Crash Really Hard During The Second Half Of 2022"
by Epic Economist
"Things weren’t exactly great during the first half of 2022. But there are many pieces of evidence showing that conditions are going to be far worse during the second half of the year. Millions of businesses are falling into a financial abyss as their operational costs continue to climb. At the same time, the housing bubble has already burst and a catastrophic crash has begun. From coast to coast, the number of layoffs is on the rise, and economic activity is really slowing down all around us. Those who are thinking that things can’t get any worse are about to get bitterly surprised by the economic downturn that has just started.
Right now, even big corporations and tech giants are extremely concerned about what is coming. For years, nothing could seem to crush the relentless optimism of the big tech companies, and their stocks soared to absolutely absurd Heights since the onset of the health crisis. But now everything has changed as we head into the second half of this year. According to the Washington Post, “Big Tech is bracing for a ravaging economic recession and an uncertain future. That, in turn, is triggering more economic angst. The biggest tech firms, most of whom report quarterly earnings next week, have offered recent hints they are hunkering down. News of layoffs and hiring slowdowns have become commonplace across Silicon Valley. Start-ups are saying capital is drying up. Workers are being put on notice that businesses are changing.”
It’s not often that we see such pessimism coming from Silicon Valley.Surprisingly, even the White House is admitting that the economy is slowing down, but Treasury Secretary Janet Yellen insists that what we are experiencing is quite “appropriate” for a “healthy economy”. Last weekend, Yellen acknowledged that the U.S. is going through an economic downturn but downplayed the potential for a severe recession, arguing that the country is in a period of “transition” following rapid economic growth. “The economy is slowing down,” Yellen said in an interview with NBC News’ “Meet the Press,” adding that a correction is “appropriate” for a healthy economy.
People can believe her if they want to. But we have to remember that she also told us that inflation would be “transitory”, and now we can clearly see how that prediction turned out. Even though we are still only in the early stages of this new recession, food insecurity is already rising all over the country, and lines are getting really long at food banks in several states. The cost of living continues to hit unprecedented heights, and this is impacting working poor Americans harder than anyone. Over the new few months, we should expect to see a tidal wave of layoffs, sharp declines in housing prices, hordes of small businesses going under, and an enormous spike in the number of bankruptcies.
It goes without saying that all of this will not be good for the financial markets either. The stage is definitely set for the sort of historic economic meltdown that several economists have been warning about for a long time, and the economic despair that our society will experience will be extremely severe. That’s why today, we decided to compile several numbers that prove that a lot more pain is coming as we enter another historic recession."
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