Seven Signs of Potential Economic Trouble on the Horizon

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 Seven Signs of Potential Economic Trouble on the Horizon

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Again I’d like to warn that, economically, things in America may not be what they seem. I’m not the only one.

 

Robert Richardson at Offgrid Survival ran a post on seven elements that point to a coming correction. Read and try to understand them and what they may mean to you and yours. The government, even as real economists sound the alarm, keeps presenting fae numbers and platitudes suggesting prosperity. The truth is that we are already overdue for a recession.

 

Here follow some things to take a look at and consider. Please do so.

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“While some are pointing to record stock gains as a sign of a booming economy, the fact is the only thing holding the economy up is hope; hope that the current administration can somehow dig the country out of the mess we’ve found ourselves in. But one look at the numbers is enough to make even the biggest optimist frown.


The predicted Trump bump seems to be hitting a wall, and not the one we were promised during the elections.


During the first quarter of 2017, U.S. GDP grew at the worst rate in three years, increasing at a seasonally adjusted annual rate of only 0.7%”

-Richardson

 

Times are always good for some people. God bless you if you’re one of them now. Here’s seven signs the party may be grinding to a halt:

 

  1. Auto Loan Bubble

    Subprime auto loans (bad credit, low income, and no down payment) are becoming the new norm. People finance what they simply cannot afford. And they are beginning to default on the loans – big time.

 

It’s a matter of time before this crashes the system and/or results in you being asked to cover the deficiencies.


  1. The Student Loan Crisis

    This is a real crisis. Millions of young people are again financing what they can’t afford. And in this case, the educations they get (if any) are growing more worthless by the day. And unlike the cars, there is nothing to repo and help to defer the costs.

 

Contrary to popular harping, these loans can be discharged in Bankruptcy, but it is difficult – most don’t even try. But they do default and the defaults are growing. This one is going to crash hard. Bad.


  1. The Retail Apocalypse

 

Thousands of stores have closed in the past few years and thousands more are closing now. Less rent, fewer jobs, less merchandise. And there are probably still too many new outlets (which will shutter) – another bubble.


  1. Big Retailers Are Dying

    Many of the stores you grew up with, and some of the newer ones, are in trouble. In addition to closing stores, many of these companies go completely out of business. This affects chains from the discount world all the way up to luxury department stores.

 

The people simply do not have the money to spend. Period.

5. Consumer bankruptcies are rising

The following numbers come from Wolf Richter:

 

Rising at the fastest rate since the end of the last crisis. That’s a sure sign another is almost here. Again, people are out of money.


  1. 60% of Americans can’t afford a $500 emergency.

    Let alone a $500,000 major medical problem. They are broke. They have no savings. They have no money. Period.

    7. We are still $20 Trillion in debt!

    It’s over $20T now – and that’s the official, on-books number. The real truth is much worse. There’s hidden debt from the government, all levels, and the unfunded liabilities for mandatory spending programs is somewhere between $100-200 Trillion. There’s even worse liability behind that but getting into it is truly ridiculous. There’s no money, what’s the point? Never to be repaid.

 

These are serious issues and there are many more to go with them. Rather than just scare us, the article presents some potential solutions. Please check into those.

 

One thing to remember is that bad times always come – and go. We just have to wait it out. And, while we wait, there are things we can do to help ourselves. It’s a matter of doing them. That starts by knowing.

Perrin​​ ​​Lovett​​​ ​​​writes​​ ​​about​​ ​​freedom,​​ ​​firearms,​​ ​​and​​ ​​cigars​​ ​​(and​​ ​​everything​​ ​​else)​​ ​​at www.perrinlovett.me​​.​​ ​​He​​ ​​is​​ ​​none​​ ​​too​​ ​​fond​​ ​​of​​ ​​government​​ ​​meddling.

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