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Ahead expect the greatest in decades. Perhaps the most disruptive in modern times.
Protracted reversals follow extreme excess. This one has a long way to go. Bad policy extends the timeframe. Imperial plans increase disruptiveness. Resources go for warmaking, not domestic needs. Greater suffering follows. The wild card is how much will people take before exploding.
Day of reckoning time may be 2013. European governments toppled like tenpins. Obama or Romney in America hardly matters. Their agendas are similar on issues mattering most.
Both support militarism, permanent wars, imperial dominance, corporate needs above public ones, painful austerity, and stiff crackdowns on resisters. Going forward, things look grim. Households least able to cope suffer most.
Key indicators point south. The Baltic Dry index historically indicates global economic activity. In May, it slumped about 10%. Future prospects look uncertain or troubled. Only about 20% of companies ventured outlooks. Of those, over half turned negative.
Headwinds overall are stiff. Durable goods orders show weakness. So does contracting production. New orders are down three consecutive months. Unfilled ones plunged. So did delivery time. Inventories hit a two month low. Prices paid collapsed to 5 from 22.5. It reflected the lowest read since July 2009.
Prices received also swung from 9.4 to -4.5, the lowest since last summer. Employment posted the largest monthly decline since May 2006. The workweek declined. Capex spending expectations hit their lowest level since September 2009.
Hiring shows no signs of recovering. Leading indicators sagged. The coincident to lagging ratio declined. It was down three of the past four months. The ratio is known for "leading the leader." It confirms likely downward GDP revisions. Going forward things look grim.
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