I think we’re well beyond any hope of getting past this economic mess without more pain. This article is just one more in a long string of articles that you can find just about everywhere on the ‘net. The writing is on the wall, and it’s clearly written. Prepare now for the coming depression, or you’re going to be caught short.
Join us on the Preparedness Podcast for more information on how you can prepare for the coming economic depression that’s headed our way.
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In my July 14 Money and Markets column, I explained how the Economic Cycle Research Institutes (ECRI) Weekly Leading Index confirmed my bearish forecast.
Back then, the indexs growth rate was minus 8.3 percent. And as you can see in the chart below, it is continuing to freefall tumbling to minus 10.3 percent for the week ending July 30
Since the year-over-year percentage change sliced through the zero line at the end of May, it has quickly fallen to levels signaling a very high risk of recession. Whats more, it has never fallen as low as its current reading without the economy already in or on its way to a recession.