Originally published January 2 2015
The American people are utterly clueless about what is going to happen as we enter 2015
by Natural News Editors
(NaturalNews) (Story by Michael Snyder, republished from TheEconomicCollapse.com) The American people are feeling really good right about now. For example, Gallup's economic confidence index has hit the highest level that we have seen since the last recession. In addition, nearly half of all Americans believe that 2015 will be a better year than 2014 was, and only about 10 percent believe that it will be a worse year. And a lot of people are generally feeling quite good about the people that have been leading our nation. According to Gallup, once again this year Hillary Clinton is the most admired woman in America and Barack Obama is the most admired man in America. I don't know what that says about our nation, but it can't be good. Unfortunately, when things seem to be going well common sense tends to go out the window. A couple days ago, the Guardian ran an article entitled "Goodbye to one of the best years in history", and a whole lot of people out there are feeling really optimistic these days. But should they be?
Sadly, what we are experiencing right now is so similar to what we witnessed in 2007 and early 2008. The stock market had been on a great run, people were flipping houses like crazy and most people were convinced that the party would never end.
But then it did end - very painfully.
The signs of trouble were there, but most people chose to ignore them.
Sadly, the exact same thing is happening again.
On Monday, the price of oil hit a brand new five year low. As I write this, U.S. oil is sitting at a price of $53.76 a barrel, which is nearly a 50 percent decline from the peak earlier this year.
There is only one other time in history when the price of oil has declined by more than 50 dollars a barrel in such a short time frame. That was back in the middle of 2008, shortly before the worst stock market crash since the Great Depression.
Read the entire article at TheEconomicCollapse.com.
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