Michael Snyder warns about recent economic events that prove a collapse is imminent.
Recent numbers indicate that we are currently experiencing a recession.
According to Michael Snyder, manufacturing numbers say it, trade numbers say it, and retail numbers say it. In 2008, many skeptics mocked the idea of a collapse until it happened.
History is repeating itself today.
Snyder explained the following via Infowars.com:
-Cabot Oil & Gas down 37.27 percent over the past 12 months
-Southwestern Energy down 68.11 percent over the past 12 months
-Chesapeake Energy down 73.98 percent over the past 12 months
A number of smaller energy companies have already gone out of business, and several of the big players are teetering on the brink. If the price of oil does not rebound significantly very soon, it is just a matter of time before the dominoes begin to fall. Source
Snyder also revealed that this year’s holiday season isn’t looking strong for retailers:
The holiday season is always the best time of the year for retailers, but in 2015 there is a lot of talk of gloom and doom. Most large retailers will not start announcing mass store closings until January or February, but without a doubt many analysts are anticipating that once we get past the Christmas shopping season we will see stores shut down at a pace that we haven’t seen since at least 2009. Source
The freelance blogger later explained that the stock market has never been a good indicator of economic health, especially in 2015. Furthermore, Snyder correctly pointed out that in 2008, stocks didn’t crash until after the economy imploded.
One of the things that is keeping stocks afloat for the moment is stock buybacks. In recent years, big corporations have spent hundreds of billions of dollars buying back their own stocks. Source
It is important to understand that this situation won’t get better without a complete overhaul of our monetary policy. The United States is long overdue for a full audit (or complete eradication) of the fed, an end to fractional reserve banking and government lending.
Instead of mocking the warnings, the general public ought to pay close attention and respond accordingly.