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Economy

The trucking industry is experiencing a “bloodbath.” So far in 2019, at least 2,500 truckers have lost their jobs as companies go bankrupt as a major recession indicator keeps going negative. According to Yahoo, six trucking companies have completely folded in 2019 and hat has left more than 2,500 truck drivers unemployed. And

Even though everything else seems to be going wrong, the stock market just continues to soar to new record highs.  In fact, the Dow Jones Industrial Average closed above 27,000 for the first time ever on Thursday.  Investors continue to relentlessly believe that bright days are ahead even though we

In the past year while we experienced a “booming economy”, one-third of Americans have cut their spending. For a country indoctrinated by a system that encourages spending and abhors savings, a survey by CNBC has shown that at least some people are willing to buck the propaganda. The survey polled men and

Even though there is a tremendous amount of evidence to the contrary, the Federal Reserve continues to insist that the U.S. economy is in good shape.  On Wednesday, Federal Reserve Chair Jerome Powell told the nation that “the economy has performed relatively well” in 2019 and he insisted that “the baseline outlook

Many Americans seem to think the alerting the public to the problems in the economy is “doom and gloom” and meant as “fear porn.” But regardless of your beliefs on the matter, the numbers show that a crash is coming, and that’s the reality, although a very grim one says

We continue to get more indications that U.S. economic conditions are going to deteriorate rapidly during the second half of this year.  Yesterday, I reported on a brand new survey which found that 69 percent of U.S. CFOs believe that a recession is coming “by the end of 2020”, and today we learned

If the U.S. economy was heading into a recession, we would expect to see a slowdown in the employment numbers, and that is precisely what is happening.  According to payroll processing firm ADP, the U.S. economy only added 27,000 new jobs in May, and that is way below the number

The global economic slowdown is really starting to accelerate.  Just within the past few days, we have gotten more really awful global manufacturing numbers, the trade war has expanded to more nations, and the Nasdaq has officially entered correction territory.  We have not witnessed this sort of global economic environment

These days, it seems like the “R word” is being thrown around constantly, but at this time last year everyone was celebrating how well the economy was doing. Unfortunately, we have witnessed a dramatic shift in recent months, and we just got some more really bad economic numbers. Thanks to those bad numbers and an increasing amount of anxiety about the trade war, the Dow Jones Industrial Average fell another 237 points on Monday. That means that we are on pace to potentially see the Dow fall for a sixth week in a row, and that is something that hasn’t happened since the last recession.

For now global financial markets are slowly sliding downhill, but eventually patience is going to run out and at that point we could see a mad dash for the exits.