As it turns out this has been something that has been coming for quite some time and the retail industry is merely a crumb compared to what is predicted to happen in the financial markets starting on March 15th.  While I read all of this with a grain of salt I also take into consideration what noted experts say regarding this matter and one such expert is David Stockman, former Reagan Administration White House Budget Director. This is what he had to say in a recent interview.

“I think what people are missing is this date, March 15th 2017. That’s the day that this debt ceiling holiday that Obama and Boehner put together right before the last election in October of 2015. That holiday expires. The debt ceiling will freeze in at $20 trillion. It will then be law. It will be a hard stop. The Treasury will have roughly $200 billion in cash. We are burning cash at a $75 billion a month rate. By summer, they will be out of cash. Then we will be in the mother of all debt ceiling crises.

Everything will grind to a halt. I think we will have a government shutdown. There will not be Obama Care repeal and replace. There will be no tax cut. There will be no infrastructure stimulus. There will be just one giant fiscal bloodbath over a debt ceiling that has to be increased and no one wants to vote for.”
In that same interview, Stockman also predicted that “markets will easily correct by 20% and probably a lot more“, and he noted the glaring disconnect between current stock prices and how the U.S. economy is actually performing…
“The S&P 500 has been trading at 26 times earnings while earnings have been dropping for the past six or seven quarters. There is no booming recovery coming. There is going to be a recession and there will be no stimulus baton to bail it out. That is the new fact that neither Trump nor the Wall Street gamblers remotely understand.”

While another recession is not what we had hoped for we pride ourselves on the fact that we are prepared. Our nation has survived many recessions and has bounced back and I believe that we can and will again should something like this occur.

For more info go to The Economic Collapse Blog.