I have been feeling like we were entering a recession but kept my mouth shut as neither the stock market or employment seemed to support my feeling.
Well it looks like the "feeling" is winning. The market (DIA) now has a very nice head and shoulders pattern with the right shoulder drooping. Bad sign.
Unemployment has been slowly creeping up and is back at 5%.
Politics looks like no matter what party you pick we will get get lots of tax increases, bad for the economy. Pundits are trying to keep your morale up by lying to you. They need you to keep spending.
For what it is worth, now would be a good time to hunker down a little.
Food prices are about to skyrocket as our competitors in China and India seem to have decided they too would like 3 meals a day, and with MEAT to boot. Imagine that! Suddenly we have nearly 3 billion more mouths to feed.
Even Mexico is threatened, since we can finally sell our food there without tariff. Believe it or not, they cannot compete with our corn farmers, who produce 3x the corn per acre as they do, at that rate it doesn’t matter how cheap you are willing to work.
May you live in interesting times……………………….