- What to expect now that the decade-old credit cycle has entered a downturn
- How bad will things get economically?
- Why today's lower oil prices will make things even worse
- Our key 7 crash-watch/recession-watch indicators to track closely
A credit cycle is a lot of fun for an activist organization like the Federal Reseve whose prime mandate is to assure that banks are healthy and skimming tons of profits from society.
On the way up everybody is cheering your brilliance at engineering such amazing times as the “roaring 20’s” and more recently the “twinkling teens.”
And on the way down? Well, that’s when you ‘tut-tut’ noises about the unforeseeable nature of market downturns and you plot out the next round of funny money to be printed and thrown in the general direction of your main customers, the big banks.
We’ve just begun the downturn phase, and it won't end until and unless the central banks reverse their current tightening policies and return to QE.
Asset prices have only just begun to correct and fall (more on that below), which means there’s a lot more pain in front of us before anything like a recovery can be expected.
By the way, that last bullet point on the right: “focus on cutting costs”? That's a euphemism for “firing people.”
Again, the reason for bringing all of this to your attention is to make you aware of where we are in the process. I want you to be properly oriented so that you can safeguard your own wealth (especially financial) and therefore be in a position to help others.
If this goes as badly as I think it will, we're all going to know people who get really hurt. Jobs will be lost. Savings will bewiped out. Dreams will be shattered.
So, has “it” arrived? Is the long-awaited big correction upon us? The answer to that is now…