The markets rallied a little on Thursday, up 400 points on the Dow. But Friday’s jobs report was low, and we’re not seeing any indications that we’ll be getting off this collision course with a recession any time soon. Even with the 400 points, it’ll still take a climb up to 28,000 for me to believe we’re breaking into this final Dark Window rally I’ve been talking about for the past year.
Recession calls were not as loud this week, but we’re continuing to see slowing everywhere – in countries and in industry. Housing and construction indexes are trending down, RV sales, retail, financials…
We’ll need to watch what the Donald does. He’ll certainly try something, and many say his next effort will be to distribute money directly to consumers. But that’s a band-aid, and hardly a sustainable one at that. By late 2020-21, we’ll be in a recession for sure, though I still think we’ll be in it by mid-next year.
A crisis is coming, and for me, the sooner the better. Time to get it over with.
Even though the markets rallied this week, Harry Dent is still concerned about the future as we continue to see troubling indicators on the rise. Watch now to get the latest on the disappointing jobs report, slow global economic growth, & more. Check out Harry’s latest bestseller, Dark Window, here: https://pro.dentresearch.com/m/1142369
Posted by Economy and Markets on Friday, September 6, 2019