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Michael Snyder: The Worst Is Yet To Come Next Year

Consumption

When talking heads on mainstream news networks are using phrases such as “the worst is yet to come next year”, that is a clear indication that a new financial crisis has arrived.  And that is an extremely bold statement to make considering that this is already the worst quarter for the stock market in 10 years, this is the worst December for stock prices since 1931, and we just experienced the worst Christmas Eve that Wall Street has ever seen.  So when Mark Jolley made the following statement during a recent guest appearance on CNBC, it definitely raised some eyebrows…

“I would love to be more optimistic but i just don’t see too many positives out there. I think the worst is yet to come next year, we’re still in the first half of a global equity bear market with more to come next year,” Mark Jolley, global strategist at CCB International Securities, told CNBC’s “Squawk Box.”

At this point last year, nobody on Wall Street was talking like this.

In fact, nobody was talking like this even four or five months ago.

But after three extremely painful months the outlook has completely changed, and a lot of market participants are really starting to freak out.

And this is not just happening in the United States.  The truth is that most most markets around the world started to fall well before U.S. markets did, and at this point almost all of the big global indexes are in a bear market

Bear markets — typically defined as 20 percent or more off a recent peak — are threatening investors worldwide. In the U.S., the Nasdaq Composite closed in a bear market on Friday and the S&P 500 entered one on Monday. Globally, Germany’s DAX, China’s Shanghai Composite and Japan’s Nikkei have also entered bear market levels.

This is the first global bear market that we have seen in a decade, and if central banks are going to try to stop the bleeding they will need to move very quickly.

But the Federal Reserve has already indicated that they do not plan to intervene.  In fact, they just told everyone that they plan to keep raising interest rates.

That is completely insane, but since they aren’t accountable to us they can literally do whatever they want.

So if the central banks don’t step in, who is going to come riding to the rescue?

Individual national governments could try to stimulate economic activity by spending more money, but most of them are already drowning in debt.

Just look at the mess that the U.S. government has created.  Since the beginning of the last financial crisis, we have been adding more than a trillion dollars a year to the national debt.  And over the last 12 months our debt problems have actually accelerated.  Between December 25th, 2017 and December 25th, 2018 we added almost 1.4 trillion dollars to the national debt.  The following comes from CNS News

The federal government has added another $1,370,760,684,441.54 to the debt since last December 25, according to numbers published by the U.S. Treasury.

On Dec. 25, 2017, the federal debt was 20,492,874,492,282.58, according to the Treasury.

According to the latest numbers published by the Treasury, which show where the debt stood on Dec. 20, 2018, the federal debt was $21,863,635,176,724.12.

So the reality of the matter is that there is simply no room for more “stimulus spending”, because we have already been spending money like drunken sailors that think that they are likely to die tomorrow.

Right now the government is shut down as President Trump and Chuck Schumer square off over 5 billion dollars in border wall funding.  But nobody on Capitol Hill is even talking much about the 1.37 trillion dollars that we just added to the national debt, and that is really what everybody should be focusing on.

We are literally committing national suicide.  No matter what happens with border wall funding, the U.S. will continue to steamroll toward financial oblivion unless something is done about this horrific debt that we are accumulating.

As I wrap up this article, I would like to share something that Austin Murphy wrote that really struck a chord with me.  Over the course of a 33 year career in journalism, Murphy interviewed five presidents and wrote thousands of articles for Sports Illustrated.  But now he is delivering packages for Amazon

Let’s face it, when you’re a college-educated 57-year-old slinging parcels for a living, something in your life has not gone according to plan. That said, my moments of chagrin are far outnumbered by the upsides of the job, which include windfall connections with grateful strangers. There’s a certain novelty, after decades at a legacy media company—Time Inc.—in playing for the team that’s winning big, that’s not considered a dinosaur, even if that team is paying me $17 an hour (plus OT!). It’s been healthy for me, a fair-haired Anglo-Saxon with a Roman numeral in my name (John Austin Murphy III), to be a minority in my workplace, and in some of the neighborhoods where I deliver. As Amazon reaches maximum ubiquity in our lives (“Alexa, play Led Zeppelin”), as online shopping turns malls into mausoleums, it’s been illuminating to see exactly how a package makes the final leg of its journey.

Like Murphy, America’s future is going to be far less bright than its past if we don’t get things turned around, and right now there is absolutely no indication that this is going to happen.

Our national problems are multiplying, the conditions for a perfect storm are rapidly coming together, and pessimism is quickly growing all across America.

Mark Jolley believes that “the worst is yet to come next year”, and in the end he may turn out to be exactly correct.

Get Prepared NowAbout the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters.  His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News.  From there, his articles are republished on dozens of other prominent websites.  If you would like to republish his articles, please feel free to do so.  The more people that see this information the better, and we need to wake more people up while there is still time.

Economic Collapse Blog



50 Comments on "Michael Snyder: The Worst Is Yet To Come Next Year"

  1. Outcast_Searcher on Wed, 26th Dec 2018 10:26 am 

    The world changes. Recessions happen. Stock markets go down, though the long term trend is up. The economy changes, technology changes, and some jobs get replaced due to changing technology.

    Same as it ever was, at least since the industrial revolution got rolling at a good clip.

    But let’s pretend that each and every negative blip means “economic collapse” because certain bloggers tell us so. /s

    No matter how bad their track record re wrong predictions.

  2. Davy on Wed, 26th Dec 2018 10:34 am 

    OS, your tale is old and stale. You generalize far too much about people who acknowledge a decline process. Are you getting nervous?

  3. ANAL FAGGOT on Wed, 26th Dec 2018 10:40 am 

    FUCKING ANAL NIGGER WARTS!

    You mom sucks my cock.

  4. JuanP Identity Theft on Wed, 26th Dec 2018 11:36 am 

    Davy on Wed, 26th Dec 2018 10:34 am

  5. I AM THE MOB on Wed, 26th Dec 2018 12:19 pm 

    Outcast

    Your screams of denial sound like the squealing of a pig beginning delivered to the butchers shop. The volume of their protestations being directly proportional to the proximity of their inevitable fate..

    https://medium.com/@Cliffhanger1983/the-collapse-of-civilization-manifesto-2039c6a5327

  6. Cloggie on Wed, 26th Dec 2018 12:50 pm 

    Give the doomers a little piece of red meat to chew on, its just humane as their only real problem in life is their BMI-35 index.

    On second thoughts, make that a red apple.

  7. deadly on Wed, 26th Dec 2018 2:15 pm 

    Back in 1995, Ford had an all time high of 32.50 on the chart, trading now at 7.71, 30 cents more than its 52 week low.

    The 52 week high was at 13.48 USD.

    Shouldn’t Ford be at a much higher price if the DOW is at 22,480?

    Netflix is at 245, netflix sucks.

    Amazon is 1463 USD with a PE of 80 plus.

    Insane. The lunatics are in charge of the asylum.

    Brka, Berkshire Hathaway, is 289,156 USD today. The all time high was 335,900 USD.

    C, Citigroup, had an all time high of 557, at 50.37 USD today. Citigroup reverse split 1 for 10 a few years ago, so Citigroup has undergone some change, down more than 90 percent. lol

    Something is rotten about it all.

    There will be another day of wreckoning.

  8. onlooker on Wed, 26th Dec 2018 2:31 pm 

    Yes, Outcast, if you cannot see it is all downhill from here, you are truly in denial

  9. shortonoil on Wed, 26th Dec 2018 2:52 pm 

    “Give the doomers a little piece of red meat to chew on”

    Definition: a “doomer”; any bipedal animal with a functioning brain.

  10. Cloggie on Wed, 26th Dec 2018 2:56 pm 

    You know I’m tired of being a optimist cornie I have to spend all day trolling the Internet to find some positive news. You doomers have all the fun there’s bad news coming in every direction. I’m thinking of switching sides.

  11. Cloggie on Wed, 26th Dec 2018 3:00 pm 

    Love your Etp model by the way shorty it’s coming back to bite the oily patch in the bum

  12. Chrome Mags on Wed, 26th Dec 2018 6:19 pm 

    “I would love to be more optimistic but i just don’t see too many positives out there. I think the worst is yet to come next year, we’re still in the first half of a global equity bear market with more to come next year,” Mark Jolley, global strategist at CCB International Securities, told CNBC’s “Squawk Box.”

    Dow went up today over 1,000 points. Brent oil went up ~4 bucks a barrel. Not going down for the count that fast.

    There are no metrics right now to warrant that much concern for the economy except maybe a slight rise in interest rate. People often sell off stock at the end of a calendar year for tax purposes. The sky is not falling yet.

  13. SWSarah on Wed, 26th Dec 2018 7:04 pm 

    “But the Federal Reserve has already indicated that they do not plan to intervene. In fact, they just told everyone that they plan to keep raising interest rates.

    That is completely insane, but since they aren’t accountable to us they can literally do whatever they want.”

    The Fed is usually part of the problem. Recently though it seems like they might have the right idea. Interest rates have to rise and the bubbles have to burst. It sucks that those of us who have nothing to do with the cause will suffer the consequences but the zombie economy created by QE must be reversed if there is any prayer of a soft landing in terms of increasing EROEI and deteriorating climate conditions.

  14. Davy on Thu, 27th Dec 2018 4:36 am 

    “The 10 Daily Habits Of Highly Prepared People”
    https://tinyurl.com/ybxofzn6

    “For some people, preparedness is about the big things: the well-stocked retreat home, buying yet another firearm, or getting a super-fancy generator. While these things can certainly be classified as preparedness endeavors, it isn’t the expensive and dramatic gestures that make us truly prepared people. The way prepared people spend their time before an emergency is the real key to survival, and this is something that no amount of money can buy. It’s the small daily habits that become an innate part of our everyday lives – habits that may not even be noticeable to someone outside the lifestyle. Real preppers, the ones you should look to for advice if you happen to be new to preparedness, are the ones who quietly conduct their daily lives with an eye towards readiness. Not only are these the qualities you should strive for yourself, but they are also the qualities that can help you to determine whether someone is the “real deal” or an armchair survivalist.”

    “Prepared people think beyond “Plan A” Prepared people understand that even the most perfect plans can go wrong, and they are willing to abandon it and act on the fluid situation at hand. Prepared people react calmly. Panic kills. When something terrifying happens, if your reaction is to freeze or to run around like a chicken with your head cut off, you’re probably going to die unless Lady Luck steps in and saves you through no action of your own. Prepared people are critical thinkers. Prepared people are able to assess the information provided to them and distinguish the difference between facts and manipulations. Prepared people carry a kit with them everywhere, every day. Prepared people know that disasters don’t usually give warnings, so it’s necessary to have a few basics on hand at all times. Here are some ideas for gifts to enhance day to day preparedness and here is an article that gives the basics of an EDC kit. Prepared people are MacGuyvers. People who are prepared don’t really solely on tools and preps though. They rely on a mindset that allows them to create what they need from what they have on hand. Prepared people live a skills-based lifestyle. It isn’t enough to just plan. You have to have the ability to execute that plan. And the only way to know that you have that ability is to make the skills a part of your day to day life. it takes a lot of practice and a substantial amount of time building a foundation to make this a viable plan. Prepared people practice what they plan. They focus on productive hobbies and live a skills-based lifestyle that is closely related to their SHTF plan. Prepared people are physically active. Prepared people generally work some kind of fitness into their day-to-day lives. They work a physical job, they walk or jog, they go to the gym, and they don’t sit at a desk for 8 hours, only to relocate to a couch until bedtime. Prepared people require purchases to be multi-purpose. We stock large amounts of items like vinegar, duct tape, and baking soda. Our tools are versatile instead of narrowly specialized. Prepared people seek out high quality products that multitask and limit purchases that only serve on purpose. Prepared people are not wasteful. How far can you stretch your leftovers? What kinds of things do you reuse that others simply throw away? The ability to make one’s supplies last for as long as possible isn’t something that just appears overnight. Prepared people live frugal, non-wasteful lives now, and they’ll be far better suited to make things last later. One day, a situation could arise in which the supplies we have are very limited. Prepared people spend time participating in activities that enhance their situational awareness. What are some other habits for preppers? Preparedness is not some finite goal that is achieved when you have amassed a certain amount of beans and bullets. It’s something that is an ingrained part of your personality. Our habits become such a natural part of us that we don’t have to think about them when we find ourselves in the midst of an emergency. The way you live your day-to-day life is the real key to survival, and this is something that no amount of money can buy.”

  15. I AM THE MOB on Thu, 27th Dec 2018 4:59 am 

    Prepping is futile

    Myth: Well-prepared individuals, groups, and communities will survive our impending collapse and maintain healthy, fulfilling, and productive lives in its aftermath.

    Reality: Those who survive our collapse will be those who can obtain sufficient life sustaining essentials—especially clean water and food—on a continuous basis, both during and after collapse. Those who store large quantities of these essentials and those who attempt to produce food, either individually or in communities, will be easy targets for the vast majority who have neither the foresight to store nor the skills to produce. No matter how remote or secluded your sanctuary, somebody will know about it; and they will come to call when they become desperate; and they will be well armed and devoid of compassion. You can prepare for a last stand, but you cannot prepare for post-collapse survival. Post-collapse Life Will Be Preferable to Our Industrial Lifestyle Paradigm

    Myth: Industrialization has brought nothing but misery and degradation to the human race; our quality of life (and spiritual wellbeing) will improve substantially in a post-collapse world.

    Reality: The post-collapse lifestyle awaiting the few who survive will, under the best of circumstances, share many attributes with pre-Columbian America. Unfortunately, the realities associated with subsistence level existence bear little semblance to the Hollywood accounts.
    Those who anxiously await our post-collapse world will be disappointed, assuming they live to experience it. The fact that nobody is opting to jettison the amenities afforded by an industrialized way of life in favor of a hunter-gatherer lifestyle today should be sufficient proof that our future way of life is not something to be anticipated. Industrialism is not inherently “evil” or immoral; it is simply physically impossible going forward.

  16. Davy on Thu, 27th Dec 2018 5:26 am 

    What you are saying MOB is living is futile. It is any wonder why you constantly allude to gun mouthing exercises. I enjoy living the life of a prepper. A good prepper knows nothing is certain including your extreme doom.

  17. I AM THE MOB on Thu, 27th Dec 2018 7:57 am 

    Davy

    Prepping is an undiluted cocktail of solipsism and fear. Its adherents are — undoubtedly — bananas..

  18. Davy on Thu, 27th Dec 2018 8:06 am 

    So, who isn’t bananas today? It is the ones who think they are not who are the crazy ones

  19. Davy Off Topic Plagiarism on Thu, 27th Dec 2018 8:08 am 

    Davy on Thu, 27th Dec 2018 4:36 am

  20. JuanP on Thu, 27th Dec 2018 8:09 am 

    That’s me not Davy

  21. Davy Off Topic Comment on Thu, 27th Dec 2018 8:10 am 

    Davy on Thu, 27th Dec 2018 5:26 am

  22. Davy on Thu, 27th Dec 2018 8:11 am 

    JuanP is a criminal. We need to deport him back to Guatemala.

  23. Davy Identity Theft on Thu, 27th Dec 2018 8:11 am 

    JuanP on Thu, 27th Dec 2018 8:09 am

  24. Davy Off Topic Comment on Thu, 27th Dec 2018 8:13 am 

    Davy on Thu, 27th Dec 2018 8:11 am

  25. Davy Personal Attack on Thu, 27th Dec 2018 8:22 am 

    JuanP is a criminal. We need to deport him back to Guatemala

  26. Davy on Thu, 27th Dec 2018 8:47 am 

    Humper pumper #9

  27. Cloggie on Thu, 27th Dec 2018 12:00 pm 

    Offshore wind conditions in the North Sea:

    https://deepresource.wordpress.com/2018/12/27/tenders-windpark-ijmuiden-ver/

    Now that industry and financial circles are willing to build new offshore wind infrastructure without a dime government money, all the governments in NW-Europe need to do is give the green light for development and already the job gets done, bringing achieving the Paris Climate Goals nearer.

    Example Holland.

    Average fossil fuel-based electricity consumption: 13 GW
    Max capacity Dutch part North Sea: 75 GW

    If you apply the example for a 100% renewable energy base for Germany to the Dutch situation, it would imply that the entire Dutch economy, including space heating and transport, could be powered with 25 GW continuously, provided strict insulation is in place and heat pumps are used everywhere. And additionally quite some thermal heat is seasonally stored.

    That would leave up to 25 GW power for export = 219000 GWh = 219,000,000,000 kWh = 50 billion euro income per year at a price of 25 cent per kWh or 20 billion euro at a price of 10 cent/kWh. In the best days, Holland made 10 billion/year from natural gas.

    Who says that no money can be made with renewable energy?

  28. Cloggie on Thu, 27th Dec 2018 12:17 pm 

    20 MW wind-turbines are the limit, says the industry.

    https://deepresource.wordpress.com/2018/12/27/20-mw-wind-turbines-are-the-limit-says-industry/

  29. JuanP on Thu, 27th Dec 2018 1:20 pm 

    Delusional Davy’s multiple personality disorder appears to be both cronic and acute. Is it incurable, too? Is he aware of his multiple personalities?

  30. JuanP on Thu, 27th Dec 2018 1:21 pm 

    JuanP identity theft! That was not JuanP, this is the real Davy!

  31. JuanP on Thu, 27th Dec 2018 1:22 pm 

    Sorry, I got the logins mixed up! I am such a mess!

  32. More Davy Identity Theft on Thu, 27th Dec 2018 1:38 pm 

    JuanP on Thu, 27th Dec 2018 1:22 pm

  33. More Davy Projections on Thu, 27th Dec 2018 1:39 pm 

    I am such a mess!

  34. JuanP on Thu, 27th Dec 2018 1:41 pm 

    I am freaking out, wow, this is me and I am freakin stoned or crazy. Who is Davy?

  35. JuanP on Thu, 27th Dec 2018 1:42 pm 

    Boney Joe, lets go play on the beach

  36. More Davy Identity Theft on Thu, 27th Dec 2018 1:50 pm 

    JuanP on Thu, 27th Dec 2018 1:41 pm
    JuanP on Thu, 27th Dec 2018 1:42 pm

  37. More Davy Projections on Thu, 27th Dec 2018 1:51 pm 

    “I am freaking out, wow, this is me and I am freakin stoned or crazy.”

  38. Davy Homophobia on Thu, 27th Dec 2018 1:54 pm 

    “Boney Joe, lets go play on the beach”

  39. Davy on Thu, 27th Dec 2018 2:13 pm 

    Juan, idiot, stop stealing my identity you pathological freak

  40. Davy Personal Attack on Thu, 27th Dec 2018 2:59 pm 

    “Juan, idiot, stop stealing my identity you pathological freak”

  41. More Davy Projections on Thu, 27th Dec 2018 3:00 pm 

    “idiot”

    “you pathological freak”

  42. Collins English Dictionary on Thu, 27th Dec 2018 3:42 pm 

    1. adjective

    You describe a person or their behavior as pathological when they behave in an extreme and unacceptable way, and have very powerful feelings that they cannot control.

  43. makati1 on Thu, 27th Dec 2018 5:39 pm 

    “We are literally committing national suicide…America’s future is going to be far less bright than its past…Our national problems are multiplying, the conditions for a perfect storm are rapidly coming together, and pessimism is quickly growing all across America.”

    Pretty well sums up the US condition today.

    slip slidin’…

  44. pointer on Sat, 29th Dec 2018 6:40 am 

    “I enjoy living the life of a prepper.”

    Good to know, Davy. When the rest of us feel the first pangs of desperation, we know exactly where to go for necessities. We’re sure you’ll be happy to share, now won’t you, Davy?

  45. Davy on Sat, 29th Dec 2018 7:07 am 

    pointer, my stuff will run out in a short period unless society reboots. This whole prep and survival issue depends on what kind of decline we have anyway. A bad collapse I have a few months of survival baring any direct attack on my home or forced migration. A mild to moderate collapse is what I am really prepped for. I have dedicated a decade to serious prep for this kind of decline. Your comment demonstrates how little you understand about prep and decline. Like many you default to mad max. I enjoy the lifestyle and I enjoy the academics of prep and decline. It is a way of life in tune with the direction of a late term civilization and a planetary system in decline. I am learning many skills and investing in things with a future that offer meaning. I seek to follow a life current through these efforts.

  46. Davy on Sat, 29th Dec 2018 7:16 am 

    Pointer, I am here to offer advice from my journeys to those who care to listen. I try to do this in between the time of fighting a extremist censorship from a few who game the forum with noise and trashy agendas. My real interest is prepping and determining the progress of a decline process. I engage in battles here only because censorship is so ugly. People like JuanP who harass people with sock puppets and identity theft are enemies of the truth. People who push agendas without honest debate are pushing junk science and ideology. Many regulars on this site are frauds. I am here to do battle with them. It is a shame it has to be this way but this is what happens to unmoderated forums where extremist and dysfunctional personalities come to roost. I do battle because pure academics is only part of life. It is also about a battle to defend the truth and to stomp out lies and distortions. It is about a natural human ethics and morality of searching for truth to enhance wisdom. It is wisdom that will save what is left of our lives. Wisdom that is found through honesty and humility. Many here do not understand this or would rather satisfy their sick ego. Did I share enough with you pointer?

  47. pointer on Sat, 29th Dec 2018 7:41 am 

    Davy, you really need to add a sense of humor to your prepping stash.

  48. Davy on Sat, 29th Dec 2018 8:40 am 

    Pointer I have one but on this forum with so many hateful people like JuanP, makati, and MOB what do you expect

  49. Antius on Sun, 30th Dec 2018 6:15 am 

    “Now that industry and financial circles are willing to build new offshore wind infrastructure without a dime government money, all the governments in NW-Europe need to do is give the green light for development and already the job gets done, bringing achieving the Paris Climate Goals nearer.”

    Will they be building the natural gas backup power plants as well? Will the cost of building, running and fuelling those plants be included in the strike price? I would imagine that the answer is no.

    In order to transition to a wind based energy economy, North European countries must adapt to using smaller amounts of intermittent energy. This transition has barely started.

  50. Cloggie on Sun, 30th Dec 2018 7:05 am 

    Will they be building the natural gas backup power plants as well? Will the cost of building, running and fuelling those plants be included in the strike price? I would imagine that the answer is no.

    In order to transition to a wind based energy economy, North European countries must adapt to using smaller amounts of intermittent energy. This transition has barely started.

    Entirely correct.

    Building renewable energy infrastructure is no longer the challenge. There is no cheaper way of producing raw electricity than solar and wind.

    Storage is now THE challenge.

    And to put my money where my mouth is, I am joining a Dutch storage startup early next year, in order to help solving Dutch storage needs, next to my regular work, consuming all my free time, leaving me little to no time to post here anymore.

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