"Whatever it was it's OVER, and I think the recession that we’re in now, is going to be longer and deeper than the Great Recession of 2008 2009." - Peter Schiff
Money managers, finanical analysts, trends forecasters, traders and other industry insiders are all saying the same thing, the U.S. is in recession, in fact most of these same insiders have been telling us since 2008 that the so-called "recovery" was nothing more than an illusion created by the Fed printing money with no collateral to pump into the system just to give the appearance of "recovery."
The elite, the FED, the central banks have all lost control of not only the markets and the economy, but the fictional narrative that has been "peddled" by the Hell Stream Media and the government's manipulated data and now their house of cards are crumbling and they are panicking.
While Schiff tells the Daily Ledger this recession will be longer and deeper than 2008-2009, money Manager Michael Pento indicates it is going to be even worse than that as he tells USA Watchdog's Greg Hunter "If you look at any of the economic data coming out, it screams recession. It will be one of the worst recessions since 2008 and 1929—combined."
X22 Report tells us China and Russia are in the midst of preparing for a bankrupt U.S. financial system and have been putting systems in place for when the house of cards fully crumbles, with mass layoffs expected, the Dallas Fed crashing to six-year lows, and how production, employment and shipments are all collapsing.
Other indicators include the following "exodus" of corporate America "fleeing" the U.S., via New York Times:
Despite the federal government’s rescue — and hundreds of millions of dollars in tax breaks over the last several decades from states like Michigan and Wisconsin — Johnson Controls said on Monday it was renouncing its United States corporate citizenship by selling itself to Tyco International, based in Ireland, a deal struck in large part to reduce its tax bill, which it said should drop by about $150 million annually.
Monday’s announcement by Johnson Controls is just the latest effort by corporate America to flee the United States. In the last year, Pfizer said it was leaving for Ireland, as did Medtronic, the medical device maker. Coca-Cola’s largest bottling company, after selling its domestic operations, is heading to Britain. (The company, Coca-Cola Enterprises, insists it isn’t for tax reasons.)”
To put this into perspective, to understand exactly how bad things will get when this recession if finally, officially acknowledged by the U.S. government... look at the the chaos created by one Winter storm which occurred on Friday and Saturday and as of a report just this morning, Tuesday, we see that the federal goverment still remains closed.
We saw stores ransacked, shelves emptied as people panicked at the last minute and rushed to prepare ahead of the blizzard and that was with days of advanced warning, so what will happen when the economy totally crashes but the public isn't informed until after the banks close on the weekend, just to be informed there is a "bank holiday," and "Oh, by the way, half your money will gone when the banks open back up?"
Whatever supplies you used during the storm, replace them. Leave enough money in the bank to pay your bills and keep the rest on you. If you live in a urban area and have a place to go when it all comes crashing down, make sure your bug-out-bag is ready, your route planned. If you are unfortunate enough to know you will be stuck in a big city, make sure you have your supplies and a means of defense.
As Bill Holter warned us last week, we are watching the meltdown happen right now... at least those watching the markets and the data are.... those watching the nightly news are going to be caught completely by surprise and if we thought the scenes and images seen as people panicked because of a storm were bad.... well, this is going to be much uglier.