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New Recession Starts After Mid-Year – John Williams with Greg Hunter
John Williams – Panic Decline and Selling of the US Dollar Will Take it to Historic Lows and More!
by Greg Hunter
USA Watchdog
Economist John Williams correctly predicted the first quarter GDP in 2015 would turn negative. What is his second quarter prediction for GDP? Williams says, “I am looking for an outright contraction in the second quarter as well. Two back to back negative quarters in the GDP (Gross Domestic Product) would be counted as a recession. GDP is very heavily bloated and inflated by all sorts of gimmicks. . . . In effect, we are seeing a weakening of the economy now that is dragging down these bloated numbers. I contend we never recovered from the collapse in 2008 and 2009. We have just been bottom bouncing. . . . It is beginning to turn down again. . . . Expectations for the second quarter will begin to sink.”
To back up Williams’ claim of a “sinking” economy, look no further than the Dow Transports which show a clear downtrend. There are many more signs of trouble as Williams contends, “. . . The better quality numbers show the economy is sinking. For example, industrial production, published by the Federal Reserve, has contracted dramatically in the first quarter, and it is a virtual certainty to contract in the second quarter. . . . Year-to year growth of industrial production is at a level that you only see going into recession. New orders of durable goods, that’s a leading indicator to industrial production. It contracted in the fourth quarter, it contracted in the first quarter, and it is basically in the second quarter. . . .
Continue Reading at USAWatchdog.com…
Source: http://financialsurvivalnetwork.com/2015/07/new-recession-starts-after-mid-year-john-williams-with-greg-hunter/?utm_source=rss&utm_medium=rss&utm_campaign=new-recession-starts-after-mid-year-john-williams-with-greg-hunter
