Susan Waigwa (3
"E.C.R.I DECLARES a
E.C.R.I DECLARES a RECESSION
On Friday the Economic Cycle Research Institute declared a
recession as beginning in the USA. This caused quite a stir in
financial circles, since for 25 years the ECRI has never made a
wrong call in these matters.
This follows on from a 3-month wave of selling in the
that has seen stocks worldwide suffer their worst quarter since
collapse of 2008-2009.
Extracts from the ECRI release are below:
"Early last week, ECRI notified clients that the U.S. economy is
indeed tipping into a new recession. And there's nothing that
makers can do to head it off.
"ECRI's recession call isn't based on just one or two leading
indexes, but on dozens of specialized leading indexes.
"A new recession isn't simply a statistical event. It's a
that, once started, must run its course. Under certain
a drop in sales, for instance, lowers production, which results
declining employment and income, which in turn weakens sales
further, all the while spreading like wildfire from industry to
region to region, and indicator to indicator. That's what a
is all about.
"It's important to understand that recession doesn't mean a bad
economy - we've had that for years now. It means an economy
that keeps worsening, because it's locked into a vicious cycle.
means that the jobless rate, already above 9%, will go much
and the federal budget deficit, already above a trillion
"Here's what ECRI's recession call really says: if you think
a bad economy, you haven't seen anything yet. And that has
profound implications for both Main Street and Wall Street."
It is very rare for ECRI to make a call this strong and this
That is why economists sit up and take real note when they do
ECRI is the most respected organization in their field, and they
lay their reputation on the line in making it. But for praying
who have been preparing their hearts for this very time, there
be nothing to fear in these events - since they have been
prophesied beforehand. Spiritually speaking, for those who are
prepared, I believe this can be a time of great growth and
But what are you seeing, my friends? Have those of you who live
the USA noticed a renewed sluggishness or downturn in the last
month or two? We would be interested to hear your insights.
-Please comment at the website below-
Source of ECRI Release-