Is this 1976 or 1980?
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Posted 21/03/2014
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We’ve written before about how the current correction looks more like the 1976 correction not the 1980 end of the bull market. Yesterday we posted a Bloomberg piece on same. Why? We are being fed a whole lot of ‘positive news’ out of the US but famed statistician John Williams gives this snapshot of the US situation stripped bare:
- Strongest Recession Signal Since Eve of the Economic Collapse
- Real Retail Sales on Track for 4% Annualized Plunge in First-Quarter 2014
- Housing Starts on Track for 34% Annualized Plunge in First-Quarter 2014
- For Second Month, Unadjusted Monthly 0.4% CPI Inflation Was Squashed to 0.1% by Seasonal Adjustments
- February Annual Inflation: 1.1% (CPI-U), 1.0% (CPI-W), 8.8% (ShadowStats)
- Real Earnings Down 0.2% in February
Shadowstats.com, March 18, 2014
Here’s a reminder of what happened in 1976…