22 Signs That We Are On The Verge Of A Devastating Global Recession

This is my first Thread, my apologies if it has been covered.

All over the world there are signs that economic activity is significantly slowing down.

www.blacklistednews.com...

A few listed here:

"#1 On Thursday it was announced that U.S. jobless claims had soared to a six-week high.

#2 Hostess Brands, the maker of Twinkies and Wonder Bread, has filed for bankruptcy protection.

#3 Sears recently announced that somewhere between 100 and 120 Sears and Kmart stores will be closing, and Sears stock has fallen nearly 60% in just the past year.

#4 Over the past 12 months, dozens of prominent retailers have closed stores all over America, and one consulting firm is projecting that there will bemore than 5,000 more store closings in 2012.

#5 Richard Bove, an analyst at Rochdale Securities, is projecting that the global financial industry will lose approximately 150,000 jobs over the next 12 to 18 months."


Here is a list of retail stores closing up shop.

theeconomiccollapseblog.com...

405 Blockbuster

633 Borders

200 GameStop

189 Gap

160 f.y.e.

117 Anchor Blue

117 Foot Locker

100 Talbot's

71 A.J. Wright

69 Metropark

63 Friendly's

60 Rite Aid

52 Destination Maternity

50 Abercrombie & Fitch

50 Hot Topic

45 Big Lots

45 Family Dollar

43 Select Comfort

43 Sonic Drive-In More listed in article.

I'm still researching other sites, I used this because I felt it was more compiled.

In the articles you will see that it mentions other countries such as Greece and the UK.

Do you all feel that there are signs to a Global Recession or perhaps see these steps taken necessary to stabilization for our economy?

Things change
The world has to evolve..
In the next ten years things will really be crazy, if we can last that long.

reply to post by synnergy



That's quite a sobering list of retail closures - not that I've been able to shop at any of them in ages.

Oh yes. It's coming.

What is a recession? Basically its when times suck. I can tell you from personal experience, that it doesnt matter when the dollar is up or the government gives us a tax break or housing loans get a whole quarter of a percent off..... times will still suck.

Anybody thinking that this place will ever have a golden style of living is kidding themsleves, unless of course your a millionaire, but how many millionaires do you believe have an ATS account?? Wont be getting any replies from them here.


BTW, if the maker of Twinkies goes under... America just may be saved from the obesity epidemic thats the 10,000LB elephant in the room

reply to post by synnergy


Most of these are because they failed to have a good online business model and the money flowed to online buying instead.

A much larger reason would be the Euro and the dropping of Europe's credit rating.

I'll be honest, with no mean intent, but I just look around at the literal world around me to see we are verging on something horrid..

Anecdotally when I walked down the high street (main street) last weekend and saw 15 large shops with the words "Closing Down Sale" plastered across their windows (I'm a sad bugger as I counted them) I can't help but feel what is going to happen will speed up over the next few weeks, and the next few months is going to be hard.

My worry is that rather than allow our economies to collapse, and allow us to start anew those in power might push us into a new global conflict to ensure they maintain their power and hold, plus it has the added bonus of diverting the building rage away from them and onto some else (in this case I am guessing anyone else will do)

I would hate to predict anything, so all I will say is that I am hoping for the best while ensuring I am prepared for the worst.

reply to post by synnergy


I don't think there is any question. The US national debt is now larger than the GDP, which means we're primed and ready for hyperinflation...Weimar Republic anyone? We're as bad off as Greece right now and Obama is asking for over 1 trillion MORE!! 

The EU will collapse soon and will take the US with it, I have little doubt. 

Christian Lagarde, the head of the IMF, said this week that if dramatic action is not taken immediately we could actually see conditions "reminiscent of the 1930s depression" and that no country on earth "will be immune to the crisis".  Right now, financial panic is sweeping across Europe, but most Americans are not too concerned about it because they simply don't understand how important the EU is.  The truth is that the EU has a much larger population than the United States does.  The EU has an economy that is nearly as large as the economies of the United States and China combined.  The EU has more Fortune 500 companies that the United States does, and the banking system of Europe is substantially larger than the banking system of the United States.  Anyone out there that believes that a massive financial collapse in Europe would not dramatically affect the rest of the globe is being delusional.  The European debt crisis is one of the biggest stories that we have seen in a long, long time and the coming financial meltdown is going to permanently change the global economy.

Link

I appreciate your comments and insight.

Its one thing to hear about it and worry about it. But when you are reading it, seeing it week after week, its mind blowing. It seems its the inevitable and we have no choice but to watch it all come crashing down and in slow motion.

On another note, many of those listed closures did have online sites, and doesn't appear to be due to bad business or keeping up with the times as well as the internet boom.

That's bull ask any of the rich B*******S.
There's no depression or rescission..

reply to post by seabag


And lets not forget good ole' S&P's downgrading so many, surely affecting the economy.

www.cnbc.com...

Standard & Poor's is expected to cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, according to several reports.

It's ok! Obama is gonna poke sticks at Iran.

A good old war always gets the economy going............doesn't it?

Pah!

This sounds more like a US recession, not a global one. There has already been some decoupling of the USD from other national markets for some time. Gaddafi did try doing this a bit early looking from the response, but China, Russia the IMF and other nations have been working on it for a little while. There is still a strong petro dollar helping the military to tread water while the rest of the nation is drowning, but the tide is turning.

I do agree that some of these companys have had bad buisness models, however i do think that its worth pointing out something about the list of companys. All these companys are what would be called luxury item retailers, as in if you have some extra cash (disposable income) you would go to gamestop, borders, or blockbuster and get something useless, however if you dont have the extra cash you dont buy anything extra. These are the kind of companys that are great real baromiters of the true health( or lack there of) of the economy, people are running out of disposable income its just that simple. One thing i want to add, i can not back this with documented research just my expieriance in my job and my clients, i work with grocery stores all over my state border to border to border to border and one thing is crystal clear. Grocery sales have declined slightly not as drasticly like disposable income retailers, however, the Costomer Counts have gone down drasticly, this is the number of people who walk into your store, this means when people shop, they shop less but buy more at one time. This can be directly attributed to the lack of disposable income, having to save money by making less trips and streching budgets, once again i have no documents, just what i hear from a majority of my clients statewide, this may differ nationwide but it is a reality here in Minnesota. I welcome your thoughts.

Originally posted by seabag

The EU will collapse soon and will take the US with it, I have little doubt. 

How quickly we forget that this whole thing actually started in US. But it doesn't serve to blame anyone because banks, financial services and many businesses operate globally. OK we can add the odd country (like Greece) which has been misbehaving into the mix. But basically the whole thing was a house of cards destined to come down. No doubt there will be finger pointing when tshtf around the world but that's what politicians do. Don't believe a word of it.

Step 1 - economy does bad
Step 2 - start war to make more jobs
Step 3 - print more fake money to pay for war
Step 4 - value of money goes down, its purchasing power goes down
Step 5 - Prices go up
Step 6 - people must work harder and more hours for same amount money which is less valuable. Instead of working 60 hours, people must work 80 to hundred hours.
Step 7 - revolution

reply to post by synnergy


When oh when are people going to stop using the "R" word to describe what we are going through
and use the "D" word instead? Its more appropiate after all. Recessions dont last this long, depressions do.

And as far as Abercrombie and Fitch closing, who really thinks that paying $70 for torn jeans is a bargain anyways? If I buy new clothes, I want them to look new for a while. Not all shredded up.

From link--the bolding on second paragraph is mine.:

During "the Obama Nation", the federal government has already accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.  Of course the Bush administration was nearly as bad at piling up government debt.  Between Bush and Obama (with a big helping hand from the Federal Reserve), they have done a pretty good job of wiping out the financial future of the United States. 

If there are future generations of Americans, they will look back and curse those that did this to them.  It is absolutely immoral to steal trillions of dollars from future generations.  Unfortunately, there are very, very few members of Congress that are even objecting to this madness.
theeconomiccollapseblog.com...

Originally posted by THE_PROFESSIONAL
Step 1 - economy does bad
Step 2 - start war to make more jobs
Step 3 - print more fake money to pay for war
Step 4 - value of money goes down, its purchasing power goes down
Step 5 - Prices go up
Step 6 - people must work harder and more hours for same amount money which is less valuable. Instead of working 60 hours, people must work 80 to hundred hours.
Step 7 - revolution

edit on 14-1-2012 by THE_PROFESSIONAL because: (no reason given)

I'd like to see OWC go militant and skip straight to Step 7.... this bs ALL OVER THE WORLD has been going on for long enough IMO

The price of oil has a strangle hold on our economy. Right now the price is $3.50 a gallon. Everytime I turn around I'm pumping $50 bills into my gastank. Not to mention what it's doing to the price of food.

reply to post by synnergy


How does this signal a collapse?

Sears is closing stores. So what? from what I have seen only old people shop there.

Blockbuster is closing stores. Again so what? Technology has made them irrelevant.

Borders didnt adapt. Barnes and nobles did. thats why there are still around.

Footlocker. They sell over priced shoes in a mall. Not a shocker.

Talbots customers are only old people.

Metropark only sells overpriced garbage.

Ect.....

How is this signalling another recession? Are you also upset there arent TV repairmen that come to your house to fix it for you too ?