This week on the Big Picture, the first topic is “The Canary in the Coal Mine - The Next Recession”. Last week the markets were surprised when second quarter GDP came in at 1% instead of 2.6%. Economists and the Federal Reserve both had it wrong. Why are so many experts getting it wrong? Jim discusses the signs of why we are likely moving into a recession. The next topic on the Big Picture is “Financial Repression has Gone Global”. We are now looking at the lowest interest rates in recorded history. There are negative interest rates in Europe and Japan. We are certainly in uncharted territory. Jim and john discuss what is driving these extreme low interest rates, and it’s not the fundamentals. They look at some of the consequences of global financial repression. The final Big Picture topic is “Gold's Drivers”. Gold has been one of this year’s stellar investments. Jim discusses what is driving gold, and why people are so bullish when gold has no yield or PE ratio.