With Japan in a depression, Europe in a recession, China experiencing a slow motion real estate collapse, Russia headed into recession, Brazil in recession, and all Middle East oil producing countries ($500 billion decrease in oil revenues in 2015) headed south, the U.S. is the prettiest horse in the glue factory. You can ignore the dramatic flattening of the yield curve and the plunge in 10 year treasury yields from 3% to 2.1% over the course of 2014. We’ve got Obamacare spending and military spending to pump up our GDP and the Federal Reserve to pump up our stock market. Mortgage applications at 15 year lows, new home sales at previous recession lows, real median household income 9% lower than 2008, 19% of all households on food stamps, real unemployment exceeding 15%, and the real nasty aspects of Obamacare about to hammer businesses and individuals, all add up to a fantastic year ahead for our welfare/warfare empire of debt. Jim Quinn The Burning Platform
Posted on: Tue, 06 Jan 2015 01:55:48 +0000
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