2 chapters across the catalog
U.S. non-farm payroll numbers are plunging as consumer spending slows down due to high costs. Dr. Kirk Elliott notes that more people have lost jobs than have been hired over the last nine months, signaling a weak economy. The potential physical closure of the Strait of Hormuz by Iran is described as the final step toward a total economic disaster.
Retail Sales Slump, Holiday Spending and Global Recession
Recent data showing the sharpest drop in U.S. retail sales for 2022 is discussed as a sign of a deepening recession. Celente notes that even holiday shopping and restaurant dining have declined significantly as consumers are "pinched out of money." He reiterates that the global economy is failing and that the ruling class will likely use war as a distraction from the collapse.
