A crash warning was just issued as things are tough all over the world.

Things Are Tough All Over
February 7 (King World News) – Gerald Celente:  Although Germany’s economy contracted by 0.3 percent in 2023’s fourth quarter, the 20-country Eurozone’s GDP neither shrank nor grew during the period, according to figures reported by Eurostat, the zone’s statistics office.

The office has not yet provided a figure for 2023’s overall economic result. Analysts expect it to be flat, Reuters reported.

The German economy’s stumble was due to its reliance on energy-intensive industries, such as chemical and auto manufacturing, and robust two-way trade with China. Energy prices remained high throughout last year after Russia cut the flow of gas into Europe and China’s growth spurt early in 2023 fizzled into stagnation.

Investment sagged in Germany’s construction industry and in machinery and equipment.

Germany’s weakness, and stagnation in France, were offset by growth in Italy and Spain.

After six consecutive quarters of little or no economic expansion, economists see the same for the Eurozone in 2024.

“The outlook for 2024 continues to be challenging amid faltering demand and increasing geopolitical tensions,” Diego Iscaro, chief European economist at S&P Global Market Intelligence, wrote in a note. “We think Eurozone activity will remain virtually stagnant during the first half of 2024.”…

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The region was battered last month by a series of protests and strikes expressing frustration over inflation. French and German farmers also took to the roads to oppose European Union plans to gradually cut back their subsidies. 

The European Union is widely expected to cut its interest rate this year, which could nudge growth.

However, “a significant upturn is also unlikely for the rest of the year,” economist Christoph Weil at Commerzbank said in comments quoted by Reuters. “In view of persistently high inflation, the European Central Bank is unlikely to lower its key rates before the summer, and this is unlikely to have a positive impact on the economy until 2025.”

TREND FORECAST: CRASH WARNING
Most importantly, Germany is the largest economy in the EU and the fourth largest in the world…and it is not doing great!

Europe dipped in and out of a technical recession—two consecutive quarters of economic contraction—last year and, with GDP flat, a full-on recession cannot be ruled out.

It should also be noted that as their economies stay weak and the plantation workers of Slavelandia suffer from high costs and weak wages, as we detail in this week’s Trends Journal, the EU is sending Ukraine $54 billion to keep bloodying the killing fields.

Again, there are the military wild cards that are being played that as they continue to escalate and the United States and Israel ramp up the Middle East Meltdown, should they attack Iran Brent crude will spike to above $130 per barrel which will in turn crash the already weakened economies….

Another Gold Bull Catalyst
King World News note:  Expanding war fronts is yet another gold bull catalyst, especially if the US dollar weakens in the coming months. Continue to purchase physical gold, and particularly silver which is greatly undervalued. For those who are invested in the long suffering mining stocks, your time is coming. 

To listen to James Turk discuss what he expects to see from the metals markets short and long term as well as the mining share markets click here or on the image below.

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