2012 is shaping up to be a very tough year for the global economy. All over the world there are signs that economic activity is
significantly slowing down. Many of these signs are detailed later on
in this article. But most people don't understand what is happening
because they don't put all of the pieces together. If you just look at
one or two pieces of data, it may not seem that impressive. But when
you examine all of the pieces of evidence that we are on the verge of a
devastating global recession all at once, it paints a very frightening
picture. Asia is slowing down, Europe is slowing down and there are
lots of trouble signs for the U.S. economy. It has gotten to a point
where the global debt crisis is almost ready to boil over, and nobody is
quite sure what is going to happen next. The last global recession was
absolutely nightmarish, and we should all hope that we don't see
another one like that any time soon. Unfortunately, things do not look
good at this point.
The following are 22 signs that we are on the verge of a devastating global recession....
#1 On Thursday it was announced that U.S. jobless claims had soared to a six-week high.
#2 Hostess Brands, the maker of Twinkies and Wonder Bread, has filed for bankruptcy protection.
#3 Sears recently announced that somewhere between 100 and 120 Sears and Kmart stores will be closing, and Sears stock has fallen nearly 60% in just the past year.
#4 Over the past 12 months, dozens of prominent retailers have closed stores all over America, and one consulting firm is projecting that there will be more than 5,000 more store closings in 2012.
#5 Richard Bove, an analyst at Rochdale Securities, is projecting that the global financial industry will lose approximately 150,000 jobs over the next 12 to 18 months.