- Published on Jul 21, 2017
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IMF executive board decides to give Greece a conditional loan but wants more austerity and a plan to reduce debt. Sales are plunging for GM, they are closing plants, laying off workers and discontinuing cars. Pensions are in trouble, many corporate pensions are underfunded and it is only going to get worse. The myth that there was cash on the side lines, is just that a myth, there is no more cash on the side lines. The money supply has dropped and we have seen this back in 2008, this is an indicator that the economy is entering a recession. The central banks are panicking, once they announced that stimulus is ending the market took a dive, the central bank then backtracked on everything .
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