Monday, May 20th, 2019

The Numbers Say That A Major Global Recession Has Already Begun

Published on October 15, 2015 by   ·   No Comments

global-recession

 Michael Snyder

The biggest bank in the Western world has just come out and declared that the global economy is “already in a recession”.  According to British banking giant HSBC, global trade is down 8.4 percent so far this year, and global GDP expressed in U.S. dollars is down 3.4 percent.  So those who are waiting for the next worldwide economic recession to begin can stop waiting.  It is officially here.

As you will see below, money is fleeing emerging markets at a blistering pace, major global banks are stuck with huge loans that will never be repaid, and it looks like a very significant worldwide credit crunch has begun.  Just a few days ago, I explained that the IMF, the UN, the BIS And Citibank were all warning that a major economic crisis could be imminent.  They aren’t just making this stuff up out of thin air, but most Americans still seem to believe that everything is going to be just fine.  The level of blind faith in the system that most people are demonstrating right now is absolutely astounding.

The numbers say that the global economy has not been in this bad shape since the devastating recession that shook the world in 2008 and 2009.  According to HSBC, “we are already in a dollar recession”…

Global trade is also declining at an alarming pace. According to the latest data available in June the year on year change is -8.4%. To find periods of equivalent declines we only really find recessionary periods. This is an interesting point. On one metric we are already in a recession. As can be seen in Chart 3 on the following page, global GDP expressed in US dollars is already negative to the tune of USD 1,37trn or -3.4%. That is, we are already in a dollar recession.

Here is the chart that Zero Hedge posted along with the quote above.  As you can see, the only time global GDP expressed in U.S. dollars has fallen faster in recent years was during the horrible recession of seven years ago…

HSBC-Chart-460x215

But there are still a whole lot of incredibly clueless people running around out there claiming that “nothing is happening” even though more signs of trouble are erupting all around us every single day.

For instance, just today CNBC published an article entitled “The US is closer to deflation than you think”, and Twitter just announced that it plans to lay off 8 percent of its entire workforce.

Read More HERE

Share the Truth:
  • Digg
  • Facebook
  • Twitter
  • Google Bookmarks
  • Global Grind
  • MySpace
  • Ping.fm
  • Tumblr
  • email

Readers Comments (0)




Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

Daily News and Blogs

Listen to the TIS Network on blogtalkradio.com

Check Out Pop Culture Podcasts at Blog Talk Radio with TIS Network on BlogTalkRadio

Like us on Facebook

Advertise Here

Advertise Here