Back in the late summer I posted on my Facebook page my simple premonition of doom for the coming October. October came and went without any major occurrence other than crime and political party foolishness. My forecast was still correct methinks. We are in the early stages of a recession right now.
Recessions are not recognized until they are well underway. I figure once this one is fully realized its beginnings will be traced back to last October; I shall be vindicated.
This one looks to be bad, very bad. Though the last recession after the 2008 financial crisis was declared over, there has been no substantial recovery. Now we are overdue for another downturn. Down is a most appropriate word.
The U.S. and major global markets are off to their worst start since the Great Depression. The super rich have lost one third of a Trillion Dollars in the past two weeks! If they’re losing like that, the rest of us are in for hard times.
A recession is generally a correction of excess and waste, a lesson. In that sense this lesson, painful as it will be, will do us a collective good.
Hang on in 2016.