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You are here: Home » News » Financial News » The Latest Numbers Tell Us That The Global Economic Slowdown Is Accelerating Dramatically

The Latest Numbers Tell Us That The Global Economic Slowdown Is Accelerating Dramatically

September 25, 2019 12:30 PM By Michael Snyder 14 Comments

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Economists are already predicting “the world’s lowest growth in a decade“, but it is beginning to look like what we will be facing will be much worse than that. In recent days, numbers have been coming in from all over the planet that are absolutely abysmal. The “global economic slowdown” is rapidly transitioning into a new global economic crisis, and central banks seem powerless to stop what is happening. They have already pushed interest rates to the floor (actually below the floor in many cases), and over the past decade they have absolutely flooded the global economy with new money. But despite all of this unprecedented intervention, economic conditions are deteriorating at a pace that is breathtaking.

Let’s start by taking a look at what is happening in India. According to CNN, vehicle sales in India fell a whopping 31 percent in July…

Just two years ago, India’s huge car market was booming and global players were rushing to invest. Now it’s been slammed into reverse.

Sales of passenger vehicles plunged 31% in July, according to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. It’s the ninth straight month of declines and the sharpest one-month drop in more than 18 years, SIAM Director General Vishnu Mathur told CNN Business.

Those are numbers you would expect to see if we were in the middle of a full-blown economic depression, and it is being projected that this downturn “could result in a million people being laid off”…

The slump has prompted companies to slash over 330,000 jobs through the closing of car dealerships and cutbacks at component manufacturers, Mathur said, citing data from industry associations that govern those two sectors.

The Automotive Component Manufacturers Association of India warned in a statement last month that its “crisis-like situation” could result in a million people being laid off.

A million jobs is very serious.

And we are talking about just one industry in one country.

How many jobs will ultimately be lost all over the world in the months ahead?

Over in China, the auto industry is also deeply struggling…

China’s Geely (GELYF) revealed this week that its net profit probably plunged by 40% in the first half of the year as the world’s second largest economy slowed. In June alone, its car sales fell 29%.

That isn’t supposed to happen in China.

For decades, China has been one of the primary engines of global economic growth, but now things have changed dramatically.

Perhaps you can blame the trade war for what is happening in China, but the auto industry is also in big trouble in Europe. In fact, some of the biggest automakers in the world are closing European factories and ruthlessly slashing jobs…

Ford is cutting 12,000 jobs and closing six plants in Europe, including an engine factory in the United Kingdom. Jaguar Land Rover, which is owned by India’s Tata Motors (TTM), is slashing 4,500 jobs. Honda is also closing a plant in the United Kingdom.

If those companies expected the European economy to bounce back in the foreseeable future, they would not be making such moves.

But just like you and I, they can see what is happening to Europe’s economy, and on Monday we just received some more deeply troubling news. The following comes from Zero Hedge…

Weakness in euro-area manufacturing hit a climax this morning as German private sector activity plunged to a seven-year low. The Germany Manufacturing PMI slumped in September, dropping to 41.4, down from 44.7 in August, printing below the lowest sellside estimate (consensus of 44.4); worse, the German manufacturing recession is now spreading to the services sector, where the formerly resilient services PMI also slumped from 54.8 to 52.5, also missing the lowest analyst estimate, and collectively, resulting in the first composite PMI print below 50, or 49.1 to be precise, since April 2013. The rate of decline was one of the sharpest in seven years.

It appears that the German economy has already entered recession territory, and these new numbers are not causing anyone to be optimistic.

In fact, “abysmal” is hardly strong enough to describe these absolutely horrible figures…

  • Flash Germany PMI Composite Output Index (1) at 49.1 (Aug: 51.7). 83-month low.
  • Flash Germany Services PMI Activity Index(2) at 52.5 (Aug: 54.8). 9-month low.
  • Flash Germany Manufacturing PMI(3) at 41.4 (Aug: 43.5). 123-month low.
  • Flash Germany Manufacturing Output Index(4) at 42.7 (Aug: 45.8). 86-month low.

Of course the U.S. economy has been slowing down for quite some time now, and if you doubt this, I encourage you to read this list of 28 alarming facts about our economy that I posted earlier this month.

We haven’t seen economic conditions like this in the United States since the depths of the Great Recession, and many believe that what is coming will be far worse than the last time around.

And we may be deep into the coming crisis far sooner than many were expecting. In fact, David Rosenberg of Gluskin Sheff is adamant that there is “a recession coming in the next 12 months”…

David Rosenberg, the Gluskin Sheff chief economist and strategist, is warning that a recession is coming. Rosenberg says economic growth in the United States will turn negative sooner than most investors anticipate and the Federal Reserve is powerless.

Even if the central bank lowers interest rates to zero, a recession will still grip the U.S. within 12 months, Rosenberg predicts. “There’s a recession coming in the next 12 months,” he stated with fact last Thursday on CNBC’s “Futures Now. The Fed just lowered its benchmark interest rate last Wednesday by a quarter-point and Fed Chairman Jerome Powell signaled rates would only be cut again if there’s new evidence the economy is softening.

If things really start to deteriorate in the months ahead, we could be in the midst of a horrible economic downturn by the time the U.S. presidential election rolls around.

Let us hope that is not the case, but right now things certainly do not look good for the U.S. economy or for the global economy as a whole.

Author: Michael Snyder

Michael Snyder is a former Washington D.C. attorney who now publishes The Economic Collapse Blog and End of the American Dream. Michael and his wife Meranda believe that God is raising up a Remnant in these last days (Revelation 12:17; Revelation 14:12) that will bring in the greatest move of God the world has ever seen and the greatest harvest of souls the world has ever seen.

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Jennifer Vertesi
Jennifer Vertesi
2 years ago

Here is an article relating to Bro. David Wilkerson’s dream about the economy.
Blessings! https://www.investmentwatchblog.com/sink-the-european-union-deutsche-bank-crashes-to-massive-e5-7bn-loss/

0
Reply
Jason V
Jason V
2 years ago

1/22/20 SPX (S&P500) recent & all time High = 3337.777 ! Maybe God is giving us a sign that that’s the top for now!?

0
Reply
James Bailey
James Bailey
Admin
Reply to  Jason V
2 years ago

Could be but I think it might go up to about 3345 or a little higher based on a dream I received last week. In the dream, I overheard a conversation between two men asking each other if it might get up to 3345. They never provided any answers, just questions, but I now have some other things that seem to confirm it is going back up to that area before it begins a big drop.

2
Reply
cunny fred
cunny fred
Reply to  James Bailey
2 years ago

James, do you think that it is possible that we have the “skinny V” before we get to 3345?
The China virus is affecting markets.

1
Reply
James Bailey
James Bailey
Admin
Reply to  cunny fred
2 years ago

That’s the big question right now. I think a little more downside is likely before moving up to 3345 but I don’t expect big drops to begin until after the top. I’m watching the markets this week to confirm that scenario. One scenario puts the next bottom at around 3200 and the other around 3100, so we’ll see.

1
Reply
cunny fred
cunny fred
Reply to  James Bailey
2 years ago

James, it is still possible that this 3345 might happen after the dip. The men might be having ANXIETY about a possible move of SPX back up to 3345, as if they missed the opportunity to sell at the previous All time high.

1
Reply
MattNZ
MattNZ
2 years ago

This was posted on Drudge… Interesting

https://miami.cbslocal.com/2019/12/10/final-full-moon-decade-12-12-at-1212/
“4” 12’s

0
Reply
MattNZ
MattNZ
2 years ago

Good article from Zerohedge on the continuing Repo market problems.

https://www.zerohedge.com/markets/when-it-becomes-serious-you-have-lie-update-repo-fiasco

0
Reply
Jerry
Jerry
2 years ago

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwi46Ku6g4_lAhWkm-AKHYAZAgYQwqsBMAB6BAgKEAQ&url=https%3A%2F%2Fwww.cnbc.com%2Fvideo%2F2019%2F10%2F08%2Fjim-cramer-chart-analyst-warns-the-sp-500-is-cruising-for-a-bruising.html&usg=AOvVaw0s5HYxoqy4BaxBQ-X9ojmh

0
Reply
Matt NZ
Matt NZ
2 years ago

https://www.zerohedge.com/markets/uks-metro-bank-teeters-after-bond-sale-fails-shares-collapsed-95

0
Reply
Matt NZ
Matt NZ
2 years ago

New LVS video, the tower will tumble….

https://m.youtube.com/channel/UCBuNGcmH4n6bWS8ZRMqqIXQ

0
Reply
Christopher Harris
Christopher Harris
2 years ago

Thank you for sharing this information Michael! God bless you and your family.

2
Reply
Bill
Bill
2 years ago

The Bank Repo problem that started on Sept. 17 at $53 Billion dollars, in eight days, has grown to $250 Billion dollars of Federal Reserve liquidity injection. I cannot stress enough, how close we are to something worse than 2008 Global financial crises unfolding, not months away and maybe not weeks away.. Please seek guidance from The Father & Son.

https://www.zerohedge.com/markets/repo-market-guru-whatever-changed-last-week-clearly-still-problem

6
Reply
David Mann
David Mann
Reply to  Bill
2 years ago

Hi There,
This as also been mentioned lately on KWN
so I would think it’s already started and about to get worse plus we have the mess of Britexit to contend with.

1
Reply

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  • William on I heard the words “Small World War”.We are all on the potter’s wheel brother. We all have rough edges that need smoothing.
  • Joe on “I will complete My promise to My Chosen…”Genetically Modified Strain Of Monkeypox Kills 250 Million People In War Game Simulation Prompting New Pandemic Warning - GreatGameIndia Is this the event that causes crypto crash in July. The dates g…
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  • Marques on “I will complete My promise to My Chosen…”I hope it's this July also! 2022 is supposed to be the year of the great exodus and the great wealth transfer so it makes sense but I know God does things on his timing so we will see...
  • Steve on “I will complete My promise to My Chosen…”Thank you Maria. Please feel free to post what Lord shows you. We really appreciate your insights.
  • Phil - Sydney on “I will complete My promise to My Chosen…”Thanks so much .maria We all have waited a long time Much love Phil
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  • Jason on “I will complete My promise to My Chosen…”Time will tell, but if I had to guess I'd say it could very well be this July. Gut feeling is my only evidence, so take that for what you will.
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  • Cesar G on Prophetic chart could be showing macro view of crypto winter aheadHi James, I hope all is well. The SPX is currently sub 4000. I know from reading your previous post you expect a rise to around 4200s before more downside continuation. Have you received any BTC3S num…
  • MattNZ on “I will complete My promise to My Chosen…”Thank you and the LORD for this word Maria.
  • James Bailey on “I will complete My promise to My Chosen…”The recent volatility makes me think a bottom in July 22 is believable but I thought it was interesting that a technical analyst that I follow had previously shared with me his forecast that the stock…
  • Peng33 on Prophetic chart could be showing macro view of crypto winter aheadThank you for sharing
  • Iosif on Prophetic dream shows Bitcoin stuck in heavy trafficI have seen BTC at $32K-34K 18K 12K $85 (this price stayed little bit longer) $0.85 Don’t know if the prices are coming one after the other regarding the time(line), cause I’ve seen BTC crashing to al…
  • Iosif on Prophetic dream shows Shiba Inu will become a major crypto currency.As Maria is not responding to my mails. I will share the half of my long lost dream (I remembered cause of Maria’s Shina Inu dream). The dream is regarding the female version of ShiBa Inu. Their will…
  • Iosif on Crypto currency markets catapulting up!Regarding the cryptocurrency “DENT” I saw DENT at $0.1 God Bless, with love, Iosif
  • Iosif on Prophetic dream shows Trump returning to U.S. presidencyOn April 27th 2022 I shared a prophetic word regarding the comeback of Trump. After September he will start to make his comeback. God Bless, with love, Iosif
  • Iosif on Prophetic dream shows Bitcoin stuck in heavy trafficOn April 21 2022 I shared a prophetic word regarding Bitcoin and why its going to almost “zero”. The Bitcoin crash has to do with the Bitcoin hack coming in August (don’t know if it will be August 202…
  • Iosif on Prophetic chart could be showing macro view of crypto winter ahead53 weeks ago I shared a prophetic word on kingdomworkfaith of Bitcoin going almost to “zero”. On November 16th 2021 I shared a prophetic word on kingdomfaithwork about the upcoming “coldest winter eve…
  • Peter on DON’T TAKE THE BAITThank you for this message. It is so timely and a loving reminder from the Lord.
  • Fat B on Pure Evil Spreading Through America and Consuming ItWow!!! This was posted back in early 2016. This dream seems to be a home run straight out of the park. Fat B isn't that smart but, smart enough to know not to mess around with that MRNA and Johnson…
  • anonymous on The 16 Biggest Lies the U.S. Government Tells America About the Ukraine Waryour seeing it brother, not many get it but your spot on
  • Desiree on “The full circle fulfillment season has arrived.”Amen … i receive it in JESUS mighty name 🙏❤️
  • Undisclosed on Dream reveals crypto currency Ripple (XRP) will be backed by gold.you using UDST OR USDC?
  • Carla on Pure Evil Spreading Through America and Consuming ItWow this was an amazing dream. Makes total sense now !!
  • Chief on Dream reveals crypto currency Ripple (XRP) will be backed by gold.Mary Thank you for the info. I'm currently weighted in Kucoin with the remainder in Bittrex. As of now not adding any positions--awaiting the coming BTC (market) crash. Our Lord will order each of our…
  • Marcio on Dream reveals crypto currency Ripple (XRP) will be backed by gold.mary, James posted this big warning about Uphold in February. Many accounts have been stolen there. I would really stay away from that exchange, along with Coinbase. https://z3news.com/w/crypto-curren…
  • mary on Dream reveals crypto currency Ripple (XRP) will be backed by gold.Chief if you are in the US Uphold still sells Xrp I've been buying on there also Changelly.
  • Marcio on In my dream, I saw what seemed to me to be a tsunami wave.Thank you, Nick, for your kind words.
  • Fionnola Morris on Gods Warning to Europe & FranceApologies - not sure what I was reacting to in Caroline Diadem’s post - I think I thought one of my nations was included in the castigation, but not the other.. - Incorrect on my part, since Caroline…
  • Nick on In my dream, I saw what seemed to me to be a tsunami wave.Marcio, I don't post often, just wanted to say thanks for still being around and sharing diligently - you're appreciated.
  • Nick on In my dream, I saw what seemed to me to be a tsunami wave.Thanks Daniel. IDK know Chris Reed but this resonates. I also watched his $50 dream video - only 11 mins, link below - similarities with JPJ perfect storm headlines but he specifically references a sw…
  • bushby on Disturbing facts about the Ukraine war and their President Volodymyr Zelensky that western news sources refuse to reporthow can you say that after reading the above post? from info and reading that is pretty much how it is. ukraine is a nazi state and zelenski is a mere puppet, who incidentally hsas been talking about…
  • Ant 🐜 on In my dream, I saw what seemed to me to be a tsunami wave.Yes that is definitely another Wow! 🐜
  • Steve on In my dream, I saw what seemed to me to be a tsunami wave.Thanks Daniel. James might be good to look this up. The Angel talked about both Presidents, Putin and Biden removed, then Kamala Harris and Senator Elizabeth Warren being in charge of US and repeated…
  • Bill F on In my dream, I saw what seemed to me to be a tsunami wave.Thanks for a very detailed and accurate picture of Btc history in light of our present similar situation. Looks like the crash began within days of the past crosses, either just before or just after.…
  • Marcio on In my dream, I saw what seemed to me to be a tsunami wave.BTC did crash mostly in a straight line down, but in the Monthly chart. It depends on the time scale.
  • Marcio on In my dream, I saw what seemed to me to be a tsunami wave.In the 100/600 1-Day MAs, the death cross happened on Nov. 12, 2018, two days before BTC started to crash on Nov. 14.
  • Marcio on In my dream, I saw what seemed to me to be a tsunami wave.Yes, the 100/600 day death cross has already happened. BTC had already started crashing a few days before that. BTC crash is not going to go down in a straight line, but with pauses and bounces. Steve…
  • DanielK on In my dream, I saw what seemed to me to be a tsunami wave.I don't know where to post it so I do it here. Chris Reed released a prophetic word from an angelic visitation revealing turbulent and tumultuous times ahead. Please pray and ask the Lord for advice f…
  • Bill F on In my dream, I saw what seemed to me to be a tsunami wave.So we have already experienced the 100/600 day death cross? I watched one of Steve's videos about this that you put up. Do you remember how many days elapsed between the previous two death crosses in…
  • Marcio on In my dream, I saw what seemed to me to be a tsunami wave.Thank you, Ant. I am just trying to understand the prophetic revelations. I just noticed that the 35th day counted from Christopher's April 7 to 8, coincides with the 100 day MA crossing. Maria did sa…
  • James Bailey on Prophetic dream shows Shiba Inu will become a major crypto currency.Makes sense since they control the press.

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