America’s Cycles of Change

US Industry Contracts – The Shape of Things to Come

Fri, 02 September 2016

September 2 – The Institute for Supply Management had some unpleasant news for usually serenely complacent US President Barack Obama on Friday. The manufacturing sector is contracting – unexpectedly so – after almost half a year of modest expansion.

New orders fell, output plunged and companies cut jobs.

There is really nothing new or surprising in this. I predicted the crisis would inevitably get worse in my 2015 books Gathering Storm and Cycles of Change, available at .

I make clear in those books that the catastrophe is real. Unless radical policy changes are made immediately, it will get worse rapidly and lead to the greatest economic crisis in US history. Worse even than the Wall Street Crash and the Great Depression.

This isn’t a question of “10 or 20 years.” The storm will break during the next four. The Reagan-Clinton-Bush era of living on borrowed money and soothing patriotic hot air should have ended in 2008. It will be to President Obama’s eternal discredit that it did not.

Obama never faced up to this truth: Things have only gotten worse on his watch.

The Change of Times and Eras is not something to song sweetly and soulfully about to a “Turn, Turn. Turn:” soundtrack: it is an enormous and fearful thing.

Those who live longest will see the most.