21 New Numbers That Show That The Global Economy Is Absolutely Imploding
By Michael Snyder, on February 16th, 2016
After a series of stunning declines through the month of January and the first half of February, global financial markets seem to have found a patch of relative stability at least for the moment. But that does not mean that the crisis is over. On the contrary, all of the hard economic numbers that are coming in from around the world tell us that the global economy is coming apart at the seams. This is especially true when you look at global trade numbers. The amount of stuff that is being bought, sold and shipped around the planet is falling precipitously. So don’t be fooled if stocks go up one day or down the next. The truth is that we are in the early chapters of a brand new economic meltdown, and I believe that all of the signs indicate that it will continue to get worse in the months ahead. The following are 21 new numbers that show that the global economy is absolutely imploding…
#1 Chinese exports fell by
11.2 percent year over year in January.
#2 Chinese imports were even worse in January. On a year over year basis, they declined a whopping
18.8 percent.
#3 It may be hard to believe, but Chinese imports have now plunged for
15 months in a row.
#4 In India, exports were down
13.6 percent on a year over year basis in January.
#5 In Japan, exports declined
8 percent in December on a year over year basis, while imports plummeted
18 percent.
#6 For
the sixth time in six years, Japanese GDP growth has gone negative.
#7 In the United States, exports were down
7 percent on a year over year basis in December.
#8 U.S. factory orders have fallen
for 14 months in a row.
#9 The Restaurant Performance Index in the United States has dropped to the lowest level that we have seen
since 2008.
#10 This month the Baltic Dry Index fell below 300
for the first time ever.
#11 It is now cheaper to rent a 1,100 foot merchant vessel
than it is to rent a Ferrari.
#12 Orders for Class 8 trucks in the United States dropped by
48 percent on a year over year basis in January.
#13 Due to a lack of demand for trucks, Daimler just laid off
1,250 U.S. workers.
#14 Even though Saudi Arabia and Russia have agreed to freeze oil production at current levels, the price of U.S. oil has still fallen
below 30 dollars a barrel.
#15 It is being reported that
35 percent of all oil and gas companies around the world are at risk of falling into bankruptcy.
#16 According to
CNN, 67 oil and gas companies in the United States filed for bankruptcy during 2015.
#17 The number of job cuts in the United States skyrocketed
218 percent during the month of January according to Challenger, Gray & Christmas.
#18 All over America, retail stores are shutting down at a stunning pace. The following list of store closures comes from one of my
previous articles…
-Wal-Mart is closing
269 stores, including
154 inside the United States.
-K-Mart is closing down
more than two dozen stores over the next several months.
-J.C. Penney will be permanently shutting down
47 more stores after closing a total of
40 stores in 2015.
-Macy’s has decided that it needs to shutter
36 stores and lay off
approximately 2,500 employees.
-The Gap is in the process of closing
175 stores in North America.
-Aeropostale is in the process of closing
84 stores all across America.
-Finish Line has announced that
150 stores will be shutting down over the next few years.
-Sears has shut down
about 600 stores over the past year or so, but sales at the stores that remain open continue to fall precipitously.
#19 The price of gold is enjoying its best quarterly performance
in 30 years.
#20 Global stocks have fallen into
bear market territory, which means that about one-fifth of all global stock market wealth has already been wiped out.
#21 Unfortunately for global central banks, they have pretty much run out of ammunition. Since March 2008, central banks have cut interest rates
637 times and they have purchased a staggering 12.3 trillion dollars worth of assets. There is not much more that they can do, and now the next great crisis is upon us.
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