May was the turning point for the global economy, according to Michael Lombardi, lead contributor to Profit Confidential, according to him the bottom is falling out from under the U.S. economy again, heading into another recession.

In the article “The Inevitable U.S. Recession; Part II Starts,” Lombardi highlights several statistics that back up his assertion.

“Manufacturing sank to a three-year low in May for the 17-member European Union,” suggest Lombardi. “The economic contraction in Europe is not only hitting the southern countries like Spain, Greece and Portugal, but it is now also infecting the strong countries like France and Germany.”

Lombardi also notes that there is an economic contraction in Asia, as Chinese manufacturing fell in May for the seventh straight month.

“If that doesn’t signify economic contraction, then how about the fact that manufacturers in China cut workers in May at the fastest rate in three years,” suggest Lombardi.

This leads to the economic contraction in America. “The U.S. only created 69,000 new jobs in May,” suggest Lombardi. “First-quarter earnings growth for the S&P 500 has slowed to a snail’s pace.”

With no country looking to take the lead to get us out of this slump, According to Lombardi the economic contraction will lead to a global recession.

Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market...before it plunged.

Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.

To see the full article and to learn more about Profit Confidential, visit www.profitconfidential.com.

Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit www.profitconfidential.com.

Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit www.profitconfidential.com/critical-warning-number-six.

Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter.

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This release was published on openPR.