1. Rises to a peak and subsequently declines.
2. Then rises above the former peak and again declines.
3. And finally, rises again, but not to the second peak, and declines once more.
Head and shoulders portend disaster in world markets and leading indicators. And I'm seeing these patterns everywhere:
Obviously, Spain is about to collapse.
But the MSCI World, a stock market index of over 1600 global stocks, is also showing collapse.
The Swiss Market Index, good indicator of the health of the world financial industry, is showing collapse.
One good thing about economic depressions is that they often depress the price of oil. But this oil index's head and shoulders pattern also portends disaster.
U.S. durable goods orders appear to be about to collapse.
The percentage of U.S. population employed has already collapsed.
The financial endgame. Coming soon to a world near you.
yikes! long gold and ammo.
ReplyDeleteRomney is going to get elected right as the sh#t hits the fan, and then all the lib's are going to say "see, another Repubican crashed the economy". I love how lib's blame Bush for crashing the economy even though, as Seth has pointed out, it was Barney Frank and Chris Dodd, two of the most liberal members of Congress. Sickening! I can't stand lib's and their elementary understanding of what's going on.
ReplyDeleteAgreed. The American electorate has been taught that the U.S. has a centrally-planned economy and the president has a lever in the Oval Office that controls the economy. Make no mistake, the man in the White House has an impact on the economy. Obama nearly got cap and trade passed, which would have sent this country into the stone age. But so much of what is happening now can be ultimately traced back to the real estate market shenanigans of Carter, Clinton, Frank, Dodd, Goldman Sachs, Moody's, S&P, and others, not the current occupant, and certainly not the next.
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DeleteBut I thought "recovery summer" was 2 years ago! Wait, Joe The Jester Biden said that. Never mind.
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