Welcome to The Panic Newsroom! …helping you stay one up on a down economy.
This is our Grand Opening page and I am glad to have you join me. The fact that you are viewing this page means that you are one of the first ever to visit The Panic Newsroom. I hope you will find it useful and informative enough to sign up for new article alerts. Also tell your friends about my website. Getting started in any new venture is always a challenge and word of mouth is, by far, the most proven way to insure success. Your help to spread the word that we exist will be gratefully appreciated.
According to Dictionary.com:
pan·ic (pan’ik) -noun
- a sudden overwhelming fear, with or without cause, that produces hysterical or irrational behavior, and that often spreads quickly through a group of persons or animals.
- an instance, outbreak, or period of such fear.
- Finance. a sudden widespread fear concerning financial affairs leading to credit contraction and widespread sale of securities at depressed prices in an effort to acquire cash.
As the name implies, this website is about providing news and information concerning the crisis, i.e., the panic, which is unfolding before our eyes. I am convinced it has just begun. Listening to the politicians and pundits and the mainstream media, you would think it might be over. But my research has convinced me that the global economy, and particularly the U.S. economy, is headed for disaster. It has nothing to do with politics. It is the general mood of society that is causing the problems, political, social and economic. Mood is subconscious, endogenous, so most people are unaware that they are the cause of the issues that confront us. Humans herd just like other animals. It is our herding instincts that will ultimately create the environment for economic collapse.
In these pages I will share with you what I have found, and continue to find out, about the true state of our economic plight. There are people who saw this crisis coming and warned us, however, few heard them because their message didn’t ring well on CNBC or the six o’clock news or in the right political circles. But they know what is happening to us. I have learned who many of them are. Finding them is not always easy or straight forward because you will rarely see them being featured in the media. The propaganda machine is feeding us information in half-truths and deceptive narratives. But the statistical evidence I will present over time should make that as evident to you as it has become to me. It will, that is, if you keep an open mind and stop watching and listening to mainstream sources. Most of you won’t be able to do that, if for no other reason than simple habit. Most of you will continue to be controlled by the brain-washing machines of big tech and mainstream media.
Prior to the Great Depression, recessions or depressions were called panics. They were usually started the same way then as did the one we are experiencing today. It begins with an asset bubble caused by too much credit liquidity, easy money. When the bubble bursts, it cripples the financial system causing runs on the banking institutions which, in turn, dry up personal and small business loans further reducing liquidity. Social mood changes from free-wheeling consumption to cash hoarding and saving. Excessive saving creates less spending which causes more businesses to fail. Failed businesses cause unemployment which forces the unemployed to default on their credit which further stresses banks holding the deflating collateral. The diminished collateral value puts many banks out of business altogether. And the final culmination is a deflationary spiral, a systemic reset of the entire economic and financial systems. The process has remained the same throughout the ages. This is not a new phenomenon.
Many smaller panics have occurred throughout U.S. history. I will talk about many of them for historical perspective. Unfortunately, you are about to live through one of the worst ever recorded. I say that, not because I have some kind of a crystal ball or psychic ability, but because I am a believer and practitioner of the Elliott Wave Principle. What Elliott Wave Theory predicts, in terms of the depressed market levels that will occur in the next few years, can only be interpreted to mean economic catastrophe beyond any of our wildest expectations. I will talk extensively about Elliot Wave Theory in due course and explain how it applies to our collective futures. The world we inhabit today will be radically different a decade from now, hopefully for the better. But the transition process will be extremely difficult, incredibly painful, and the toll that the process will take on our human social condition will be like nothing anyone alive today has ever experienced.
So, on that uplifting note I will welcome you again to The Panic Newsroom. Feel free to comment on any article and hopefully others will respond to your comments. Other than civility, I impose no restrictions on your feedback. Criticism and counter views are as welcomed as accolades. Everyone’s voice counts. That is the nature and the essence of Free Speech. On subject matter so important to all of our lives, it has rarely counted more. Feel free to use the [Contact Form] to ask questions or express an opinion. I will respond to as many as I can, but I make no promises. If the questions have broad relevance I will answer them in a post. Whether you agree with my articles or not, you can rest assured I have your best interests at heart. And I assure you I am dedicated to doing my small part in …helping you stay one up on a down economy.
Al Coryell
Host/Moderator
