Upcoming financial crisis

I can see that happening.  The economy goes in 10 year +/- cycles.  We are 10 years out from the last downturn. Add to that the trade war, climate change and increasing isolationism throughout the world it is a recipe for disaster.  I have been trying to get my family ready for it especially since top economists indicated concern late last year and have become louder this year.

I thought that it will happen late next year. Someone said that voters will be pissed from what they hear, especially their wallets. I think this is it. BTW, between 2024 or 2028, or later, a progressive government will take over and likely enact a New New Deal, packing in the Supreme Court.

I'm keeping an eye on the monthly jobs report. It's due out at the end of this week I believe. One of the first things that businesses do in times of uncertainty is to stop adding employees. The tariffs are starting to pinch and are throwing many businesses for a loop. I had to have my HVAC system replaced earlier this month and chose a small mom and pop business. They were very aware of how the steel and aluminum tariffs were driving their costs up. 

No matter what, I have to keep the vibrations of abundance flowing through me by the way of gratitude. I can't let this put fear into me but I remain aware of what's going on regardless.

Carmen i agree with you about keeping vibrations positive but also being aware

I just checked the list I made of Financial Times forecasts for year 2018 and the places where I felt they were off. Back in January, I predicted this, which went against the consensus of the Financial Times staff:

- Chinese reported GDP growth will be below 6.5% for 2018.

- Emerging market GDP growth will be below 5% for 2018.

- S & P 500 won't finish the year above 2,650 (roughly where it was at the beginning).

Had a vision last night shortly before falling asleep of a mighty green dragon with what looked like a skinned chicken in its mouth. Ain’t gonna be good for America.

Posted by: Frannie

Had a vision last night shortly before falling asleep of a mighty green dragon with what looked like a skinned chicken in its mouth. Ain’t gonna be good for America.

What an interesting vision! Care to elaborate what it means? 

Last weekend I was adding another staple of freshly made jam to the shelves in  the cellar of my mother in law's house. I suddenly got a very vivid picture of completely overflowing shelves with glasses of preserved food and the feeling that we will be glad of having it. I also had the feeling that we still have time to fill up the stocks and make the best of this summer and its many fruits and vegetables. In addition, it felt like I still have the time to learn the most important forgotten skills about food preserving. I have to admit - this got me very scared. On the other hand, there was a very comforting feeling too - as if to tell me that I should not fear too much. Things will be not as bad as I tend to think they will.

Carmen I think it means China is swallowing America’s role as a great power. Skinned chicken equals slaughtered bird which I see as an eagle equaling America.

i also think china will win the trade war easily.

Trade wars aren't easy to win, in spite of what Trump says. Not for the US, and not for China, either. It doesn't help the US that it's now in a trade war with pretty much everyone: China, the EU, and even Canada. The US will lose in the end, but it's going to get ugly. Not so ugly that preserving food will prove to be a really useful skill, but ugly enough that many US farmers will suffer, and that's never good.

I have absolutely no doubt that we'll lose and lose hard. The USA is a mighty nation but it's nuts to believe we could take on the whole world and come out with anything that's positive. I suspect it'll cause a depression here and very likely worldwide and after that, the US will never hold it's current place on the world stage ever again. Meanwhile, the super rich will pick up farms, businesses, land, etc. for a song, thus making income inequality even worse than it is or would be with that horrible tax bill. Ultimately, I suspect his biggest supporters in the heartland will pay the biggest price and by the time they realize how bad Trump is, it'll be too late. If things work out the way Trump wants, we will live just like the Russians only worse because at least they get healthcare. That type of life in the USA could make the robber/baron era look generous.

Compounding the negative impact of the escalating tariff wars are the realities of climate change and environmental devastation, which Trump's heartland base has worked so hard to deny.  The aquifers, rain, and snow pack that have fed agricultural production are drying  up.  Fracking and pumping have changed the way the earth responds to tectonic shifts in the plates.  The possibilities of catastrophic contamination of the existing and future water supply by fracking and pumping operations and the significant underground infrastructure of oil pipelines and fracking refuse are horrifying.  Add to this rising sea levels, wild viruses, and the escalating fury of hurricanes, tornadoes, earthquakes, and volcanic eruptions and we're in for a wallop.  Americans are going to have to learn to share and collaborate with others across the globe.  

Hi, the outline you have written Gracesinger is accurate. Sadly so. But Americans are going to have a big problem cooperating with the rest of the Planet. Trump has just declared a huge trade war on the rest of the Planet, and backed this up by angering the Europeans in NATO so much that they are now openly saying that Trump is not a friend, but a potential enemy. (The Russians are NOT a realistic enemy of the Europeans. They are outgunned totally. 26 core EU nations, and 600 million people, that leaves the Russians unable to realistically win any such war. Plus most russians would be strongly against it.) The main fear we have here in Europe, now, is the American Government, and its strange leader. He has almost succeeded in bringing NATO to the edge of breakup. We despair, over here. 

Zoron, Trust me, we despair over here too ?

Yup, there's plenty of despair going around. Let's hope he evolves out of his current position, and the sooner the better. Frankly I wish some liberal billionaire would just pay him to leave. Or maybe a GoFundMe campaign. I'd chip in. 

Going back to the main theme of the thread, August is just round the corner, and it's looking like the prediction of the global markets going down is shaping up to be correct.

Well, the billionaire isn't going to be a Koch brother, and the entire world is reeling.  I can't do anything more than put my 401Ks in annuities, bonds, and a fund with a three percent guaranteed return for now.  I feel like I'm bracing for a tidal wave and just hope the waters recede and mellow long enough to pull out what I can at the end of October, when I turn 59 1/2.      

I'm seeing big stock market swings in November after the midterm elections. Then, just after Thanksgiving, the market will have a serious dip.