a series of stunning declines through the month of January and the
first half of February, global financial markets seem to have found a
patch of relative stability at least for the moment. But that
does not mean that the crisis is over. On the contrary, all of
the hard economic numbers that are coming in from around the world
tell us that the global economy is coming apart at the seams.
This is especially true when you look at global trade numbers.
The amount of stuff that is being bought, sold and shipped around the
planet is falling precipitously. So don’t be fooled if stocks
go up one day or down the next. The truth is that we are in the
early chapters of a brand new economic meltdown, and I believe that
all of the signs indicate that it will continue to get worse in the
months ahead. The following are 21 new numbers that show that
the global economy is absolutely imploding…
exports fell by 11.2
over year in January.
imports were even worse in January. On a year over year basis,
they declined a whopping 18.8
may be hard to believe, but Chinese imports have now plunged for 15
months in a row.
India, exports were down 13.6
a year over year basis in January.
Japan, exports declined 8
December on a year over year basis, while imports plummeted 18
Gap is in the process of closing 175
is in the process of closing 84
Line has announced that 150
be shutting down over the next few years.
has shut down about
600 stores over
the past year or so, but sales at the stores that remain open
continue to fall precipitously.
price of gold is enjoying its best quarterly performance in
stocks have fallen into bear
which means that about one-fifth of all global stock market wealth
has already been wiped out.
for global central banks, they have pretty much run out of
ammunition. Since March 2008, central banks have cut interest
they have purchased a staggering 12.3 trillion dollars worth of
assets. There is not much more that they can do, and now the
next great crisis is upon us.
any outside influences, the global economy and the global financial
system will continue to rapidly fall apart.
if we do have a major “black swan event” take place, that could
cause the bottom to fall out at any moment.