{"id":22701,"date":"2017-02-09T15:54:52","date_gmt":"2017-02-09T20:54:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22701"},"modified":"2017-02-09T15:55:02","modified_gmt":"2017-02-09T20:55:02","slug":"recession-2017-things-are-happening-that-usually-never-happen-unless-a-new-recession-is-beginning","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22701","title":{"rendered":"Recession 2017? Things Are Happening That Usually Never Happen Unless A New Recession Is Beginning"},"content":{"rendered":"<div class=\"post-headline\">\n<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/recession-2017-things-are-happening-that-usually-never-happen-unless-a-new-recession-is-beginning\">Recession 2017? Things Are Happening That Usually Never Happen Unless A New Recession Is Beginning<\/a><\/h3>\n<\/div>\n<div class=\"post-bodycopy clearfix\">\n<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/recession-2017-things-are-happening-that-usually-never-happen-unless-a-new-recession-is-beginning\/new-crisis-public-domain\" rel=\"attachment wp-att-11770\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-11770\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2017\/02\/New-Crisis-Public-Domain-460x307.jpg\" alt=\"New Crisis - Public Domain\" width=\"460\" height=\"307\" \/><\/a>Is the U.S. economy about to get slammed by a major recession?\u00a0 According to Gallup, U.S. economic confidence has soared\u00a0<a title=\"to the highest level ever recorded\" href=\"http:\/\/themostimportantnews.com\/archives\/u-s-economic-confidence-surges-to-highest-level-ever-recorded-by-gallup\" target=\"_blank\">to the highest level ever recorded<\/a>, but meanwhile a whole host of key economic indicators are absolutely screaming that a new recession is beginning.\u00a0 And if the U.S. economy does officially enter recession territory in 2017, it certainly won\u2019t be a shock, because the truth is that we are well overdue for one.\u00a0 Donald Trump has inherited\u00a0<a title=\"quite an economic mess\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/11-very-depressing-economic-realities-that-donald-trump-will-inherit-from-barack-obama\">quite an economic mess<\/a>\u00a0from Barack Obama, and it was probably inevitable that we were headed for a significant economic downturn no matter who won the election.<\/p>\n<p>One of the key indicators to watch is average weekly hours.\u00a0 When the economy shifts into recession mode, employers tend to start cutting back hours, and that is happening right now.\u00a0 In fact, as Graham Summers\u00a0<a title=\"has pointed out\" href=\"https:\/\/goldsilver.com\/blog\/heres-proof-the-us-is-sliding-into-recession\/\" target=\"_blank\">has pointed out<\/a>, we just witnessed the largest percentage decline in average weekly hours since the recession of 2008\u2026<\/p>\n<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/recession-2017-things-are-happening-that-usually-never-happen-unless-a-new-recession-is-beginning\/average-weekly-hours\" rel=\"attachment wp-att-11769\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-11769\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2017\/02\/Average-Weekly-Hours-460x345.png\" alt=\"Average Weekly Hours\" width=\"460\" height=\"345\" \/><\/a><\/p>\n<p>In addition to the decline in hours, Summers has suggested that there are\u00a0<a title=\"a number of other reasons\" href=\"https:\/\/goldsilver.com\/blog\/heres-proof-the-us-is-sliding-into-recession\/\" target=\"_blank\">a number of other reasons<\/a>\u00a0to believe that a new recession is here\u2026<\/p>\n<blockquote><p>The fact is that the GDP growth of 4%-5% is\u00a0<strong><u>not just around the corner.<\/u><\/strong>\u00a0The US most likely slid into recession in the last three months. GDP growth collapsed in 4Q16, with a large portion of the \u201cgrowth\u201d coming from accounting gimmicks.<\/p>\n<p>Consider the following:<\/p>\n<ul>\n<li>Tax receipts indicate the US is in recession.<\/li>\n<li>Gross private domestic investment indicates were are in a recession.<\/li>\n<li>Retailers are showing that the US consumer is tapped out (see AMZN\u2019s recent miss).<\/li>\n<li>UPS, another economic bellweather, dramatically lowered 2017 forecasts.<\/li>\n<\/ul>\n<\/blockquote>\n<p>To me, even more alarming is the tightening of lending standards.\u00a0 In our debt-based economy, the flow of credit is absolutely critical to economic growth, and when credit starts to get tight that almost always leads to a recession.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recession 2017? Things Are Happening That Usually Never Happen Unless A New Recession Is Beginning Is the U.S. economy about to get slammed by a major recession?\u00a0 According to Gallup, U.S. economic confidence has soared\u00a0to the highest level ever recorded, but meanwhile a whole host of key economic indicators are absolutely screaming that a new [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[11370,12623,3891,12900,10067,5627,195,3461,6431,6069,11848,6433,2541,488,14777,4901,14778,1264,14779,8791],"class_list":["post-22701","post","type-post","status-publish","format-standard","hentry","category-economics","tag-11370","tag-auto-loan","tag-auto-loans","tag-credit-card","tag-credit-card-debt","tag-credit-cards","tag-debt","tag-debts","tag-economic","tag-economic-collapse-blog","tag-economic-downturn","tag-economic-mess","tag-loan","tag-loans","tag-major-recession","tag-michael-snyder","tag-new-recession","tag-recession","tag-the-next-recession","tag-the-u-s-economy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22701"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22701\/revisions"}],"predecessor-version":[{"id":22703,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22701\/revisions\/22703"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}