The U.S. economy was steamrolling in the wrong direction for four years under Joe Biden, and now we have an extraordinary mess on our hands. Nobody can deny that our economic numbers are absolutely horrible right now. GDP growth is expected to be negative during the first quarter, inflation is rising again, home sales are at extremely depressed levels, retail sales are down, stores and restaurants are closing at a staggering pace, debt levels are out of control, and mass layoffs are happening all over the nation…
President Donald Trump’s efforts to pare down the federal government workforce left a mark on the labor market in February, with announced job cuts at their highest level in nearly five years, outplacement firm Challenger, Gray & Christmas reported Thursday.
The firm reported that U.S. employers announced 172,017 layoffs for the month, up 245% from January and the highest monthly count since July 2020 during the heightened uncertainty from the Covid pandemic. In addition, it marked the highest total for the month of February since 2009 during the global financial crisis.
Please read those two paragraphs again.
Layoffs announcements haven’t been this high during the month of February since 2009.
Wow.
And the total for the first two months of this year is also the highest that we have seen since 2009…
January’s planned reductions brought the total through the first two months of the year to 221,812, also the highest for the period since 2009 and up 33% from the same time in 2024.
In case you haven’t figured it out yet, we have a major crisis on our hands, and the economic numbers that we are getting clearly reflect this. The following are 12 shocking new all-time economic records that are being reported in 2025…
#1 Our trade deficit with the rest of the world has surged to an all-time record high…
The US trade deficit widened to a record in January as companies scrambled to secure goods from overseas before President Donald Trump imposed tariffs on America’s largest trading partners.
The gap in goods and services trade widened 34% from the prior month to $131.4 billion, Commerce Department data showed Thursday. The deficit was larger than all but one estimate in a Bloomberg survey of economists.
#2 The percentage of Americans that are “raiding their retirement savings” has never been higher…
More Americans are raiding their retirement savings to cover emergency expenses, taking early withdrawals from their 401(k)s.
A record 4.8 percent of account holders took hardship withdrawals last year, up from 3.6 percent in 2023, according to Vanguard Group, which examined data from nearly 5 million people with 401(k)-type accounts.
#3 This year, the price of a dozen eggs in the United States has soared to the highest level ever…
In January, the average price of a dozen eggs hit a record high of $4.95, up from $2.52 a year prior.
#4 The delinquency rate for subprime auto loans that are at least 60 days delinquent just hit a level we have never seen before…
60+ day auto loan delinquencies in the subprime cohort (less credit-worthy borrowers) hit 6.56% in December 2024—the highest ever recorded. That’s up from 6.01% in November 2024 and 6.27% in 2023.
#5 In January, pending home sales dropped to an all-time record low…
Contracts to buy previously owned homes fell to a record low in January as prospective buyers were constrained by higher mortgage rates and house prices.
The National Association of Realtors (NAR) said on Thursday that its Pending Home Sales Index, which is based on signed contracts, declined by 4.6% last month to 70.6, an all-time low.
Economists polled by Reuters had forecast contracts, which become sales after a month or two, falling by 1.3% in January. Pending home sales were down 5.2% from a year ago.
#6 It is being projected that the U.S. will run a record high agricultural trade deficit of 49 billion dollars in 2025…
The U.S., known for being a global agriculture powerhouse, has never imported so much food.
Inbound shipments of everything from avocados to coffee and sugar are expected to drive the country’s agriculture trade deficit to a record $49 billion this year, the U.S. Department of Agriculture said in its trade outlook report. At the same time, America’s most widely grown crops have been losing overseas markets over the past decades.
It’s a stark turnaround for a nation that once used its abundant food supplies as a tool of statecraft, with the U.S. now facing a future of persistent agricultural trade deficits.
#7 Coresight Research is telling us that approximately 15,000 stores will be permanently closed in the United States in 2025. That would be a new all-time record by a wide margin.
#8 The price of gold has moved above $2900 an ounce for the first time ever.
#9 Credit card debt in the United States has crossed the 1.2 trillion dollar mark for the very first time…
Americans’ total credit card balances now stand at a record-high $1.21 trillion, the report said.
#10 Total household debt in the United States has crossed the 18 trillion dollar mark for the very first time…
Americans’ household debt — including credit cards, mortgages, auto loans and student loans — is at a new all-time high of $18.04 trillion, according to a report released Thursday by the Federal Reserve Bank of New York.
#11 The U.S. national debt has surpassed the 36 trillion dollar mark for the first time ever.
#12 When you add up all forms of debt in our society, it comes to a grand total of more than 100 trillion dollars. This has never happened before in the entire history of our nation.
Earlier today, I was amused by a Newsweek article that stated that top economists are concerned that our economy “may be on a path toward recession or a downturn that could rival those of 2020 and 2008″…
Economists have expressed fears that the American economy may be on a path toward recession or a downturn that could rival those of 2020 and 2008.
These concerns have been heightened by falling retail sales and associated layoffs, the anticipated impacts of President Donald Trump’s tariffs on prices and domestic consumption, American stock indexes trailing their European counterparts in recent months, the Federal Reserve’s statements indicating that inflationary struggles are far from over, and data pointing to sharp declines in consumer confidence.
Come on man.
Our economy is not “on a path toward recession”.
The truth is that our economy is in a recession right now.
Let’s be real.
Everywhere around us, people are in extreme economic pain.
Unfortunately, what we have experienced so far is just the beginning.
So I would encourage you to brace yourself for what is coming next, because it isn’t going to be pleasant.
Michael’s blockbuster entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
About the Author: Michael Snyder’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com. He has also written eight other books that are available on Amazon.com including “Chaos”, “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.