ECONOMIC UPDATE: It's Not Happy Market Days
What we have been forecasting, of dark economic times ahead, is now finally being noticed.
NOTE TO READERS: The below article was found in this week’s Trends Journal. Please consider subscribing below for the world’s best trend-forecasting and independent news analysis.
We got it right, we got it wrong.
In November 2022, we had forecast the S&P 500 would boom in 2023, going up at least 16 percent. It did, spiking up 24.2 percent for the year.
We had also forecast that U.S. equities would slump in September, October, and December. They fell in September and October but had a nice Santa Claus rally in December.
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Now, here we are in the New Year, and it is not happy market days. What’s going on?
What we have been forecasting, of dark economic times ahead, is now finally being noticed. Today the World Bank (i.e. World Banksters) forecast that the global economy is heading toward its worst half decade of growth in 30 years, and the world economy will grow by only 2.4 percent this year.
Finally repeating what we have been forecasting since the Ukraine War began in February 2022 and then the Israel War in October 2023, the World Bank’s deputy chief economist and director of the Prospects Group, told CNBC that “You have a war in Eastern Europe, the Russian invasion of Ukraine. You have a serious conflict in the Middle East. Escalation of these conflicts could have significant implications for energy prices that could have impacts on inflation as well as on economic growth.”
Wow, blow me away, who would have known?
What bullshit. This is old news to Trends Journal subscribers.
Again, we had been long on top of this trend, but when someone from “The Club” with a big title—“deputy chief economist and director of the Prospects Group”—speaks, the Presstitutes listen.
And what is not being “reported” by the World Banksters are the socio economic and geopolitical implications. On the socio economic front, one of our Top Trends for 2024, MIGRANT MADNESS, MAD AS HELL, will escalate as people flee their homelands as they lack basic living standards, are being robbed by government corruption… and fear for their lives as crime and violence escalates.
But those are just human conditions that The Street and the Banksters brush aside.
And of course, as socioeconomic conditions decline, those in power will do all they can to stay in power. As I say, “When all else fails, they take you to war.” And even the World Bank has noted that if the current wars escalate they “could have significant implications for energy prices that could have impacts on inflation as well as on economic growth.”
No, not “could have,” they will! And if measures are not taken to stop them, they will escalate into World War III, which will not only destroy the global economy but also destroy life on earth.
Debt Load
How can the United States economy prosper when it is carrying a $34 trillion national debt load? How can the U.S. dollar maintain its dominance and how can the U.S. possibly service its debt when the debt load is forcing the government to spend $2 billion a day on interest payments… that’s the number according to the Peterson Foundation research.
Then there are the plantation workers of Slavelandia, that the media calls “consumers.”
In the U.S. they are burdened with over a trillion-dollar credit card debt. And according to the Federal Reserve Bank of New York, some 56 million Americans have been in credit card debt for at least a year. And, with the Bankster Bandits in control, according to WalletHub “The current highest credit card interest rate is 36% on the First PREMIER® Bank Mastercard Credit Card. The next highest credit card interest rate seems to be 35.99%, charged by the Total Visa® Card and the Milestone® Mastercard®.”
That shows you who is in control… a money junky mob. When I was a kid they went after the Italian mafia for charging 10 percent. But with the Banksters in control of Washington, it is perfectly fine for the money junkies to steal from the poor to give to the rich.
Bottom to Top
On the higher end, non-performing loans are hitting the largest U.S. lenders with nearly $25 billion on unpaid loans in the third quarter… according to Bloomberg analysis.
How about all those bankruptcies in the U.S. health care sector that hit record levels last year?
Happy Days are not here again for the U.S. venture capitalist gangs who saw their funding drop 60 percent last year.
TREND FORECAST: As goes the Israel War and the Ukraine War, so too will much of the global economy. Brent crude was trading in the $75 per barrel range on Monday because of fears of a slowing global economy and Saudi Arabia, on Sunday, lowering the price of Arab Light Crude by $2 per barrel.
That reversed today: “Oil prices rose on Tuesday after sliding in the previous session as markets weighed Middle East tensions” wrote CNBC.
More of the data is pointing to a global economic retreat. Therefore, we maintain our forecast that central banks of the U.S., U.K., Canada and the European Union will lower interest rates to boost failing economies.