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HARD TIMES AHEAD - Key indicators point to steep economic decline – U.S. Depression

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On March 25th, the DJIA fell 292 points while NASDAQ lost 118. There are many contributing factors that are beginning to rear their ugly heads. As of this very second, the US National Debt is $18,162,628,189,175. The official unemployed is 8,620,539. Today, CNBC noted, “Interestingly, as the stock market sold off, it was met with a selloff in bonds, somewhat odd in that the two markets don’t often move in tandem.

Cheap oil is also beginning to take its toll on the economy. The fracking industry is taking a huge hit. Announced today, Halliburton will suspend operations in Minot starting April 1st, 2015 and close the facility, a spokeswoman confirmed Tuesday. In response to low oil prices, Halliburton said in February it would cut between 5,200 to 6,400 jobs worldwide. Halliburton has declined to comment on how many jobs have been eliminated in North Dakota. A few weeks ago, Schlumberg (SLB) laid off 9,000 people.

The Office of Financial Research, the agency tasked with promoting financial stability and keeping an eye on markets, released a paper last week stating that the stock market is dangerously overpriced, and that excessive leverage will exacerbate the next market correction.

For years, you’ve heard the dire predictions of a coming great depression. If today is an indication of things to come, I would have to conclude that that day has finally arrived. There is no good news. Here come the hard times.



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