On the heels of yesterday’s KWN viral interview with Gerald Celente This Is The Shocking Truth About How Bad The Economy Really Is In The United States, it appears that an already bad situation for the U.S. and the rest of the world may be about to get a lot worse.
What Celente noticed after yesterday’s viral interview about the collapsing restaurant industry in the United States was this note from Stifel, Nicolaus & Co. analyst Paul Westra, who just cautioned: “We warn investors that restaurant-industry sales tend to be the ‘Canary that Lays the Recessionary Egg,’” He also stated this “may also represent a harbinger to a U.S. recession in early 2017.”
For those who missed it, this was the stunning chart included in Gerald Celente’s KWN interview (see below).
Restaurant Performance Index Now In Free-Fall Decline
Yesterday’s KWN Celente interview went so viral that Bloomberg ran a piece today claiming that restaurant CEO’s are blaming the Presidential election for hurting sales…
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While parroting Celente’s KWN interview, Bloomberg was way off base with their conclusion. This was Celente’s conclusion in yesterday’s KWN interview:
“It’s the economy, stupid,” not the presidential elections or consumer uncertainty, that’s keeping people from eating out. According to research company NPD Group, 18 to 35 year olds, once the largest group of restaurant customers, are cutting back.
Americans Are Drowning In Debt
Indeed, a generation saddled with $1.3 trillion in college debt, working low-paying jobs or no jobs at all, and living with their parents in record numbers because they can’t afford to live on their own… along with 51 percent of working Americans earning less than $30,000 per year, 35 percent having debt at least 180 days past due, and 70 percent having less than $1,000 in savings… eating out is not an option, it’s a luxury! More than a restaurant recession, it is a precursor of a national recession.
Celente spoke with KWN again today and stated: “Eric, just look at the chart that shows the University of Michigan’s Confidence Composite, which forecasts each economic collapse after the highlighted yellow circles (see below).
Stunning economic collapses after each of yellow circle
Celente continued: “And if that’s not enough proof, Eric, just look at the collapsing Heavy Duty Truck Sales in the scary chart below:
Celente concludes: “If you look at the way the heavy duty truck sales are collapsing, you can only compare that to the worst recessions in U.S. history. And the chart shows no signs of stabilizing. There is no recovery. These are the worst post-recessionary recovery numbers since the end of World War II.
This Decline Will Engulf Every Country On The Planet
Just look at what is happening in China, the world’s second largest economy — exports just plunged 10 percent. And if you look at Europe, their GDP is going nowhere even in the face of 80 billion euros of government and corporate bond buying by the ECB each month as well as negative interest rates. The bottom line is that this is a global recession and no one is going to escape it, and before it is over this decline will engulf every country on the planet.”
***KWN has now released the powerful audio interview with Gerald Celente and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO RELEASED: Is The World Now Headed Into The Next Financial Crisis? CLICK HERE.
***KWN has also now released the extraordinary interview with John Embry and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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