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12 Clear Signals That The U.S. Economy Is About To Really Slow Down

A member of the U.S. Navy aboard the Arleigh Burke-class guided-missile destroyer USS James E. WilliamsA lot of things that have not happened since the last recession are starting to happen again.  As you read the list below, you will notice that the year "2009" comes up again and again.  There is a reason for that.  Many of the same patterns that we witnessed during the last major economic downturn are starting to repeat themselves.  In fact, many of the things that are happening right now have not happened in quite a few years.  For example, manufacturing activity in the U.S. has contracted for the first time in four years.  The inventory to sales ratio is the highest that it has been in four years.  Average hourly compensation just experienced the largest decline that we have seen in four years.  We also just witnessed the largest decline in the number of mortgage applications that we have seen in four years.  After everything that Barack Obama, the U.S. Congress and the Federal Reserve have tried to do, there has been no real economic recovery and now the U.S. economy is suddenly behaving as if it is 2009 all over again.  A whole host of recent surveys indicate that the American people are starting to feel a bit better about the economy, but the underlying economic numbers tell an entirely different story.  The following are 12 clear signals that the U.S. economy is about to really slow down...

#1 The average interest rate on a 30 year mortgage has risen above 4 percent for the first time in more than a year.

#2 The decline in the number of mortgage applications last week was the largest drop that we have seen since June 2009.

#3 Mark Hanson is reporting that "mass layoffs" have occurred at three large mortgage institutions...

This morning I was made aware that three large private mortgage bankers I follow closely for trends in mortgage finance ALL had mass layoffs last Friday and yesterday to the tune of 25% to 50% of their operations staff (intake, processing, underwriting, document drawing, funding, post-closing).

This obviously means that my reports of refi apps being down 65% to 90% in the past 3 weeks are far more accurate than the lagging MBA index, which is likely on its' way to print multi-year lows in the next month.

#4 It was just announced that average hourly compensation in the United States experienced its largest drop since 2009 during the first quarter of 2013.

#5 As I wrote about the other day, the Institute for Supply Management manufacturing index declined to 49.0 in May.  Any reading below 50 indicates contraction.  That was the first contraction in manufacturing activity in the U.S. that we have seen since 2009.

#6 The inventory to sales ratio has hit a level not seen since 2009.  That means that there is a lot of inventory sitting out there that people are not buying.

#7 According to the Commerce Department, the demand for computers dropped by a stunning 9 percent during the month of April.

#8 As I noted in a previous article, corporate revenues are falling at Wal-Mart, Proctor and Gamble, Starbucks, AT&T, Safeway, American Express and IBM.

#9 Job growth at small businesses is now at about half the level it was at the beginning of the year.

#10 The stock market is starting to understand that all of these numbers indicate that the U.S. economy is really starting to slow down.  The Dow was down 216.95 points on Wednesday, and it dropped below 15,000 for the first time since May 6th.

#11 The S&P 500 has now fallen more than 4 percent since May 22nd.  Is this the beginning of a market "correction", or is this something much bigger than that?

#12 Japanese stocks are now down about 17 percent from the peak of May 22nd.  Japan has the third largest economy on the planet and it is one of the most important trading partners for the United States.  A major financial crisis in Japan would have very serious implications for the U.S. economy.

If we were going to have an "economic recovery", it should have happened in 2010, 2011 and 2012.  Unfortunately, as a recent Los Angeles Times article detailed, an economic recovery never materialized...

Real GDP growth — the value of goods and services produced after adjusting for inflation — is 15.4% below the 3% growth trend of past recoveries, wrote Edward Leamer, director of the UCLA Anderson Forecast. More robust growth will be necessary to bring this recovery in line with previous ones.

"It's not a recovery," he wrote. "It's not even normal growth. It's bad."

Now we are rapidly approaching another major economic downturn.

But poverty in America has continued to experience explosive growth since the end of the last recession and dependence on the federal government is already at an all-time high.

How much worse can things get?

Sadly, they are going to get much, much worse.

What the U.S. economy is experiencing right now is not just a cyclical downturn.  Rather, we are in the midst of a long-term economic decline that is the result of decades of very foolish decisions by our leaders.

It is imperative that we get the American people educated about what is happening.  If people do not understand what is happening, they are not going to get prepared for the hard years that are coming.

If you have a family member or a friend that does not understand the long-term economic collapse that is unfolding all around us, please show them my article entitled "40 Statistics About The Fall Of The U.S. Economy That Are Almost Too Crazy To Believe".  It goes a good job of pointing out many of the reasons why we are heading for complete and total economic disaster.

And the point is not to fill people with fear.  Rather, there is a lot of hope in understanding what is happening and in getting prepared.  As we have seen over in Europe, those that get blindsided by economic problems often become totally consumed with despair.  Suicide rates have soared in economically-troubled nations such as Greece, Spain and Italy.

And the same thing is going to happen in the United States too.  In fact, the suicide rate in the United States has already been rising according to the New York Times...

From 1999 to 2010, the suicide rate among Americans ages 35 to 64 rose by nearly 30 percent, to 17.6 deaths per 100,000 people, up from 13.7.

In fact, today more Americans are killed by suicide than by car accidents.

Isn't that crazy?

Unfortunately, this is only just the beginning.  When the system fails, millions of Americans are going to be convinced that their lives are over.  A lot of them are going to do some very stupid things.  We want to try to prevent as much of that as possible.

Thanks to decades of incredibly foolish decisions by our leaders, an economic collapse is inevitable.  This is especially true considering the fact that our leaders in Washington D.C. and elsewhere will not even consider many of the potential solutions which could help start turning our economic problems around.

So since there are no solutions on the horizon, we need to explain to people what is happening and help them to get as prepared as possible.

The years ahead are going to be very hard, but we have a choice as to how we will respond to the challenges in front of us.

We can face those challenges with fear, or we can face them with courage.

Choose wisely.

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  • Julran

    I read you daily and share your insights with college students. Reading your novel right now!

    • MichaelfromTheEconomicCollapse

      Julran:

      That is encouraging Julran. :) What do you think of the novel so far?

      • Adrian

        Michael, what is your novel titled? Do you think the abandonment of Keynesian economic policies has exacerbated the economic situation? If the middle class and working class get money in their pockets from tax cuts, that would do a lot more to stimulate aggregate demand than giving money to the already rich, who simply stash it in off shore accounts or use it to relocate factories and other jobs overseas. I think if the politicians were serious about fixing the economy, they would have done this long ago. However, I am convinced the elites like a weak economy, as it creates a desperate labor force that is cowed and easier to coerce; they can get more out of each worker than they could during strong economic times. Lastly, what do you think about the government over the last few years training the military in urban centers for urban rioting? I think they are getting ready for when the economy collapses, and the martial law in Boston was a dress rehearsal for it. I enjoy reading your blog. Please keep up the good work!

      • JulRan

        I finished the book today. Could not put it down. Very good first novel!

  • K

    Excellent article.Between unemployment, and less pay for those who have jobs. How can there be a recovery? With high food prices, high electricity, and high fuel. People simply do not have much, if any disposable income left over. The math just does not support a recovery.

    • Martin

      I really hope some economist compares this crisis to the 1987 Stock Market crash, Dot Com bubble and 2001 Stock market crash.

      The baby boomers are arguing they had it rough in their time complaining about Peak Oil in the 1970s and those market manipulations.

      Was the economic crisis of 2008 identical to the Great Depression of 1929?

      Arguing with liberal baby boomers working for 70k a year jobs are like arguing to a feminist sometimes.

      • K

        Martin arguing with anyone who is making 70k is useless. They have not yet felt the pain. Having lived through all those dates you mentioned, except 1929. I can tell you, they will all look like a walk in the park. Compared to what is coming.

    • Adrian

      You’re exactly right, a recovery is impossible. But when the media talks about a recovery what they mean is a recovery for the rich and the elites: corporations and Wall Street. You think they’re talking about us Main Street folks? No way. That is why they are training the military in urban warfare and practicing putting cities on martial law: all practice for when the great collapse hits.

      • gman

        that’s is absolutely correct.

    • markthetruth

      How can anyone have a Disposable income left after We have to replace all the Disposable Junk Electronics and Goods they sell us.

      the end…

    • Wage Slave

      My employer just announced another 7% of the total work force will be laid off. I expected to see it in the news since the company is so large. Nothing.

      • Louise in MO

        You will find it on Fox Business Channel.

      • K

        Most news is pretty much useless. I refer to them as MOP (ministry of propaganda) Sorry to hear about more layoffs.

  • Martin

    High unemployment=

    1) Low income per household
    2) Bad for businesses
    3) Businesses are forced to lay off more workers
    4) Increase in toxic assets for banks (mortgages, student loans)
    5) Decreased trade

    Economic crisis.

    How 2013 is a start-up from 2009:

    1) More people are awake of the corruption.
    2) The rich got richer throughout the years
    3) DOW has reached high.
    4) More liberals and feminists are whining for the remaining jobs.
    5) Increased police state influence.
    6) Arab Spring, Middle East wars.

  • r.bitting

    Americans are living out what was written in Romans CH. 1 and Deuteronomy CH. 28, Want to read the end of America in advance? read these two chapters of the bible. Things will only continue to worsen as the people continue on the moral slide. The solution is simple, repent and return to God. The reality is sadly, that it’s not going to happen, the people have turned their backs on God, they have chosen to persist in their willful rebellion and consequently, have sealed their doom. God has warned this nation many times ( read Amos CH. 4 ), I fear the time of warning has come to an end, and now people, prepare to meet your God. Yes, even our leaders are a judgment from God because God has given us the leaders that we deserve. Better accept God’s only plan of salvation now while you still can. Trust in Jesus Christ’s sacrificial death on the cross for the sins of the world. God made him who knew no sin to become sin for us so that we might become the righteousness of God in Him. 2 For. 5:21.

    • MichaelfromTheEconomicCollapse

      What percentage of the population do you think actually lives out the wise advice in Deuteronomy 28?

      Michael

      • r.bitting

        Very few, as I’m sure you well know. A more revealing question might be ” How many so called Christians have ever even read Deuteronomy 28 or Romans 1, let alone been taught to fear God through the reading of them It would be unrealistic to expect that a non-believer would have read the passages in question, but with such a large number of professing believers in this country, one can’t help but wonder what would happen to this nation if just those people who only profess, but don’t live it, would repent and begin to live out their faith. Change will only begin at the individual/ family level. When Fathers and Mothers and Grandparents turn back to God, only then will you see change at the community, state & national level. Only then will this nation return to being the nation it once was. That’s why reading Romans 1 is so important when trying to understand both where we are as a nation and where it is heading, it’s all right there for anyone to see, it’s the endgame scenario for a nation that rejects God.

        • seth datta

          With so much disinformation out there, who is to say that current editions of the Bible don’t have the odd few errors introduced by the Elite on purpose? That’s why I stick to the major rules such as the Ten Commandments. At least you cannot go wrong following those.

          I mean, look at the Pope. He IS 666. He even said non-Christians (atheists etc..) can be saved by doing good deeds. How false is that? Isnt it the case that since mankind is inherently flawed, we can ONLY have salvation in Jesus, not through just doing good deeds. Also, the Ten Commandments were the social contract for society and we can clearly see that abandoning that has led to the rise of abominations such as poorly brought up kids from mass single motherhood.

          • Nadine

            How many Christians have read Deut. 28 or Rom. 1? What is more important is how many Christians actually believe Jesus Christ was the word and LORD of the OT. He gave all the commandments, yet how many of you actually keep them? Do you keep the Sabbath, or do you just make excuses that it’s only for Jews. Christ Himself said He is the LORD of the Sabbath and that Sabbath was made for man (not just for the Jews).

            How many of you keep God’s Feasts (Lev. 23)? Do you know that they picture God’s great plan of salvation for ALL mankind, or are you content with keeping meaningless holidays that were contrived by godless nations to worship ‘demons’ that people still keep today?

            Knowing about all that is coming isn’t going to save your bottom. Obeying God will. Here is the patience of the saints: here are they that KEEP the commandments of God. Rev. 14:12

          • bebot

            all these people who talk about repenting are actually not following GOD’s word …. GOD said … the first said ” You shall no other gods before me ” – how many do these people have …. three … i hope they actually know what they are saying about the word of GOD

          • Louise in MO

            I don’t agree with the Pope. There are those who do good deeds and think that these actions will salve them for eternity.

            There is so much in the Bible to prove that Jesus christ was God’s plan for a fallen world.

            However, many don’t take the time to read it and learn.

            Scripture says that “the preaching of the cross is foolisness to those who perish.”

          • joe oberr

            1 Tim 3:15 says the pillar and foundation of truth is the church. Which church is Paul referring to?

          • Leebo

            his mind

    • kathy k

      r.bitting I love your posts we all need more of your input. God has a fabulous plan for those who are willing to turn to His Son repent & live in Gods glory. The same plan that He has had for all time. Eternity with God the way life was meant to be. Good to hear from you. God Bless

    • ItIsWellWithMySoul

      Thanks for this post.

    • Paul

      Psalm 9:15-17 – 15 The nations have fallen into the pit they have dug;
      their feet are caught in the net they have hidden.
      16 The Lord is known by his acts of justice;
      the wicked are ensnared by the work of their hands.
      17 The wicked go down to the realm of the dead,
      all the nations that forget God.

      Have we not forgotten God here in America? We most certainly have. Everything from God being booed at the DNC, to prayer and anything even remotely religious being removed from everything even remotely tied to anything federal. America has turned into Babylon where sins such as homosexuality, abortion, drug use, idolatry, etc…etc…are not only encouraged but celebrated. We have come to the point where Jamie Foxx is calling Obama “our lord and savior” and not only that…Think about this: It is no secret that we are supplying Syrian rebels with weapons whereas in recent cases the rebels are most likely slaughtering Christians with weapons that this nation has supplied. It is a crime to dishonor Islam in this country. If you got caught burning a Koran you would be sent to prison for hate speech or action but burn a bible and no one would bat an eye. Put a cross upside down in urine or smeared with feces and call it art and hardly anyone bats an eye.

      James 4:17 – If anyone, then, knows the good they ought to do and doesn’t do it, it is sin for them. I know many many Christians and Christian leaders that have turned a blind eye to what this country has become and they are just as much sinners because all have sinned and fall short of the glory of God. Any sin separates us from God. Time is indeed running out. I believe God has removed his protection of this country and that only by grace he is giving us time to repent from our sinful ways and move toward him but think about this…Romans 9:27-28 – Isaiah cries out concerning Israel: “Though the number of the Israelites be like the sand by the sea, only the remnant will be saved. For the Lord will carry out his sentence on earth with speed and finality.”

      • Louise in MO

        I agree…thanks for your post.

        The fact that Christians and Christianity is so frowned upon in America today is still one more sign that we are near the end. We will be even more persecuted as time goes by.

        We must be brave, trust in the Lord and help fellow Christians whenever we can. For at the end, we will be the only ones who will stand together.

    • jhunted7667

      The Cannibalism is going to be the Finish of US , now you know why they made all those Zombie Apocalypse Movies , to condition the minds of people so they would eat human flesh , an Abomination in the eyes of God , we should have NEVER taken prayer out of the school’s and the Ten Commandments off the walls , Revelations say’s it all Chapter 3 verse 7 thru 13 , John Adams was the first of the founding fathers to make the Covenant with God and in 1963 we broke it

  • markthetruth

    READ THIS CRAP THEN !!! READ !!! CROOKED BASTARDS!!!

    Furloughed feds can tap jobless benefits, raising questions about sequester savings

    The Government BRAGGED About Saving Money Though Furloughs of the Workers i Wrote back sometime ago what is going to Happen . That they will Get to take the Days off in a roll 5 days so they Could Collect Unemployment . So Now how are you saving Money they can Collect up to more then $750 a week . Ok now their Going to get another Month of Paid Vacation on our Money. What the …….. !!! Put them back to work then this is S T U P I D…!!!

    the end…

    • Gay Veteran

      “Furloughed feds can tap jobless benefits”
      in all 50 states? proof please

  • Rodster

    Viva La France !

  • euroman

    Since 1990 hundred of millions of people have been entered the workforce market on global scale. Emerging countries producing in mass for us in the western world. No wonder there are fewer jobs available.

    Solution?

    Work for 2 $ per day or getting poorer day by day.

    • Thompson

      $2 a day can’t even pay for one way transit. How is the $800 a month rent going to be paid? Even if Americans were working for $2 a day the landlords will lose business with their $100 rent hike every 3 years.

  • Jimbo

    I tried to verify my account but the link did nothing?

    • Thompson

      Working 12 hours a day for $0.50 an hour is not going to pay the rent in the cities, much less the cost of public transit.

      What sense does it make working for $6 a day, $42 a week, $168 a month when rent is at least $800 a month in the cities and $600 in the out of town areas?

      • Jimbo

        Chinese workers do not live in houses or apartments. They live in dormitories near the factory and walk to work. Family transport will be a motor scooter. Cars are for the rich and upper middle classes. That is the reality of the competition that the west has to face. The edge that the west has had in the past has been quality of product and technical innovation but the Chinese are catching up there as well. We have enjoyed a decade or so of cheap TV’s but the real cost is the loss of our manufacturing base to Asia. Once our currencies are devalued (which they will be), the cheap imported TV will cost the same (or more)in real terms than a US or British made TV did 30 years ago.

        • looseal

          Motor scooters? Don’t you mean bicycle.

          • Jimbo

            Bicycles are a luxury for your average Chinese worker and I didn’t see one bicycle less than 30 years old whilst I was there. The motor scooter is family transport. Not a FWD with child seats in the back and DVD players to keep the kids happy. The kid stands on the footplate, dad drives and mum sits on the back. I have seen six people on a motor scooter. I have seen caged live pigs on the backs of motor scooters. I have pictures if there is a way to share them on here. It opened my eyes.

  • Shanna

    Gas just rose in my neck of the woods (Northern Indiana) Wednesday. Reg gas anywhere from $4.19 – $4.29 gal. I heard we’re higher than Hawaii & California. Another crazy thing is my husbands home remodeling business is booming (thank goodness) he has jobs lined up all the way to fall, ppl calling left & right. He just told me he going to have to start turning jobs down b/c he’s so busy. He also said he’s talked to other guys in home remodeling & businesses that supply for the home industry & they’re just swamped with work. He’s had clients tell him that they could not even get other remodelers to call or even show up to their homes b/c they’re so busy & do not need the work. He also told me remodelers are starting to get picky again on what type of work they are doing. During the ressession these guys would take any job to keep a float but now that’s no more. So yeah good times are here again in my area but for how long? Hopefully for a long time but when I read Micheal’s articles I know it cannot last forever!!!

  • ImmColl

    No jobs means no recovery.US is a consumer driven economy. If people are not working they cannot spend money to fuel the economy. Pols in DC know this they do not care. If someone makes the BS free trade equals cheap goosd which benefits all argument I counter with the law of diminishing returns. Which is what we are seeing now…. exported jobs for cheaper products to the point where many Americans have no job to buy the cheap products. Revenues are down at WAL MART as this article points out. That is cheap goods central. QE causes inflation which causes the cost of even the cheap goods to go up due to shipping/overhead costs. So we get the double whammy a weaking economy due to no job growth and increasing costs of goods. Yes some electronics are cheaper but you cannot eat a TV last time I checked…just sayin.

    • Adrian

      Very well-said!

    • Thompson

      “If people are not working they cannot spend money to fuel the economy.”

      A domino effect on a majority of businesses. It takes time for that to happen to cause an economic collapse. Warning, those types of economic crises can end up chaotic as massive layoffs, austerity and spiked up rates of unemployment could affect everyone.

  • Jodi

    Michael, Thanks for another great article. I just wanted to let you know I finally bought my first ebook last night & it happens to be your book. I can’t wait to get started.

  • Jodi

    Job growth at small businesses is now at about half the level it was at the beginning of the year.

    Yes, I believe this is true. I work in the advertising business & it seems we were doing much better at the beginning of the year. For the past few weeks things have slowed down quite a bit. I’m surprised I still have a job. I’m not sure if I will still be employed by the end of summer.

    • Louise in MO

      I hope you keep your job, Jodi.

      I would imagine that businesses are not advertising as much since the people can no longer afford to buy anthing except the essentials for living.

  • Barn Cat

    The biggest indicator is the fact that GDP numbers are adjusted by bogus inflation numbers. We don’t have 2% inflation. It’s really 10%. So instead of having, say, 2% growth we have an 8% decline. And of course, companies are cutting back on hours in preparation for obamacare.

  • tomydispik

    Just wait until the Chinese start bidding up the price of pork like they have been beef and poultry. Added to the “natural” inflation increase you are going to have an artificial buyers premium increasing the cost of FOOD by 30-50%.

    Well, what are you going to do? Not eat?

    And we can thank Congress for allowing that purchase to go through. After all, they are focused on preventing a cyber attack on computers that are inedible even in the most desperate of times

  • Ralfine

    If stocks can fall 17%, they were probably overvalued.

  • kathy k

    “After everything Obama, Congress, & the Federal Reserve have tried to do??? there has still been no real recovery”. Micheal those 3 are the reason ther has been no recovery.

    • K

      Kathy, I agree with you. Want proof? Why do you think they will not enforce immigration laws? Because that would improve the economy.

      • kathy k

        Thank you K I love your posts

  • Rancher

    Some of us past Preppers have already joined together and pooled our convictions and beliefs and what most of you bloggers post about by creating a well secured fall back location to weather such bad times … if need be.

    Sadly we have found that nationwide 99% of posters and talkers are just that…talkers. Loaded with opinions and information but have never backed it up with a concrete plan having in place a safe house location able to sustain their lives ready to go to when…
    1. It is no longer safe to stay where you are.
    2. You can not get food or it is not safe to try.
    3. you water supply and public utilities are on and off again and finally off….
    4. It is to late to try to run because it is grid lock out there.
    5. Besides smart guy just where are you running to?
    6. You try to call for help and no one can here you…or even cares.
    7. Your family looks at you for leadership with despair in their eyes and you tell them this is just what I have been blogging about would happen… See I was right!!
    8. You wish you could go back in time and had invested in a safe location with others to watch your back while you slept.
    9. You tell your family it will be alright as the cold creeps into your unheated home with no running water….
    10. You tell them it was nothing when they here voices outside and see people well armed lurking around your home….

    I think you all get my drift here… lack of corresponding action to all your postings here and else where amount to a big ego for you and a small chance of survival later. Do you have a non grid/public utilities location ready to go with enough like minded folks to protect it 24/7/365 or not? If what so many here post about does happen then you will be needing it … so why have you not done it?

    Oh never mind….. as it all falls on deaf ears, cheap spenders, big talkers and no it all folks so just keep blogging about how tough it will be so you can tell yourself you were right in the end.

    • Louise in MO

      Well, excuse me! Who said we aren’t prepared..you? I’ve spent five years prepping and am ready to go.

      “Pride goetch before destruction and a haughty spirit before a fal”l….Proverbs

  • Mustard Seed

    And are we still just in the beginning phase of the worldwide collapse? Looks like more/bigger war is brewing in Syria. Damascus Countdown? Life is going to be difficult everywhere.

    For all the negative naysayers commenting about walk the talk…You don’t have a clue what people are doing. Prepping isn’t something people want to advertise….even under anonymity.

  • j h

    I have been wondering where the recover was. I was underemployed from October 2008 until November 2012. I still look everyday to see what’s out there for jobs. There’s not much out there.
    When you do apply for jobs you seldom hear back from anyone.
    I have a friend from California who was laid of in February. They were telling me the same thing I faced. You send out a lot of application and seldom here back from anyone.
    From 08 until 12 I worked a lot of part time jobs ran all over the place and burned myself out and have health issues due to the fact I have so much stress in my life. I feel for everyone that can not find a job.

  • George W Hill Jr

    Hi good article… Im a sliver bullion retailer in fay NC I sell my silver OTC… I was a mil contractor and former mil officer .. . I think the Chinese see this world /situation they way I do… we know that this will end … the fiat systems will all crash… out the other side is Sound money system …of gold and silver … and fiat will not live again till we forget the past and try one more time… I tell you not 1% of our people have a clue … Im doing all i can to educate them …I feel its my duty to at least warn them …Give them the opportunity to save themselves!

    It will never be better till after the crash know that !
    RGR 77

  • WarriorClass III

    It may make a difference if people would stop killing themselves and started killing those responsible for this contrived economic collapse.

    • Hammerstrike

      Exactly.

    • Adrian

      Who would they go after?

      • WarriorClass III

        It’s a target rich environment; look around.

  • Hammerstrike

    Idiots taking their own lives and letting their enemies, those responsible for their misery and the destruction of their country, live the high life at the workers expense.

  • ItIsWellWithMySoul

    .Lets not forget health care. We just were notified that out health care premium has went up and our deductable has increased from $500 to $1500 per household member. This change is due to take place January 1,2014. As Obamacare begins to take root there will be even more economic downturns to add to the mess that is already taking place. My family is barely getting by and this is going to hurt.

    • ian

      then drop your insurance. Eat healthy and you will hardly ever need a doctor.

  • LifeLongLearner71

    Michael I’ve been reading your articles for a couple years now. You are the best blogger on the internet. Thank you for encouraging folks to be mentally prepared, at least, for what is coming. This should be the goal for everyone right now, especially towards friends and family. It’s not about fear. You nailed it. I encourage you to not lose heart in doing good (Gal 6:8-9).

  • MegaLiberty74

    All government economic stats are a LIE. Real unemployment has gone up since 2009 and climbing to 23%, not the 7% government lie. Real inflation (1980 based) is hovering around 10%, not the 1-2% government lie.

    Obama/Biden promised 400,000 “good paying” jobs per month and “forward” with their debt ridden “stimulus.” We obviously got screwed!

    The only reason Wall Street is happy is because of the illegal, unconstitutional banking cartel – Federal Reserve – pumping money into a broken and failed system. If you take all that pumping back out, the economy literally shows ZERO growth.

    The elites know their gig is up. They are simply doing their best to keep things in an illusion state for as long as possible. And the state controlled media does their part in convincing you of that illusion.

    • El Pollo de Oro

      “My next door neighbor’s two dogs have created more shovel-ready
      jobs than this current administration.”—Gary Johnson, Libertarian Party presidential candidate for 2012

    • garand555

      A lie? Absolutely. 23% unemployment? That’s a tough one to show. 11-12% can be shown without breaking a sweat by using the BLS’s own statistics. And that’s still really bad. 16%-18% is where I think it really is. I could be wrong, but we’re living in a world of lies, and it’s tough to know the real answers now.

      • MegaLiberty74

        Go to Shadow Stats. They break the real numbers down versus the BS government numbers. If you are referring to the U6 unemployment number, that one is at 14%.

        • garand555

          I’ve been to Shadow Stats. Regarding unemployment, there is so much misinformation out there, it’s nearly impossible to know what to believe. I’ve reconstructed various figures myself, and BLS’s data itself shows that 5 million people who are unemployed are no longer counted as part of the labor force. It’s not that I don’t trust Shadow Stats, it’s that I have yet to find a reliable source of data to begin figuring the real answer.

  • AmericanMan2012

    Lie to get elected.

    Lie to get more power.

    Lie to keep power.

    Lie to destroy the Republican party.

    Lie because they can’t go back.

  • AmericanMan2012

    If we can save just one child’s life, we need to do what ever we can, We owe them to try!!
    By Obama!!

    Laws preventing lung transplants to children, it’s the law, Obama doesn’t get involved.

    Laws that allow late term abortions, instead of encouragement to adopt, Obama does not act.

    If the situation doesn’t give Obama gain to his agenda, no action!!!!

  • mikeysnoni

    What???!! You mean Obama’s economic policies are not working? How is that even possible? I mean – a guy with his experience…Oh, wait! He doesn’t have any. Ok..nevermind.

  • mikey

    We are not near the end times as I am a born again Christian myself. The economy has always been a cyclical creature and now that we are an intertwined global economy the political policy of foreign governments are having an economical impact on the stock market as well as our economy. As our government spends money we don’t have our borrowing interest rates will need to rise in order to pay the bill. The only upside is that retired people will again earn some interest on savings in return. As other countries expand and grow the price of materials will go up because demand will have risen. When we take into account the growing worlds’ population and technological advances some physical tangibles will no longer be in great demand aka: pc and personal computers as phone and clouding capabilities evolves.
    The Japanese for sure will have a issue repaying their bonds and the nuclear disaster will have a great future toll but that will not surface for several years.

  • mattinohio

    It’s not ALL bad news. CEO pay continues to rise. That’s good news to a CEO, as is the news that worker pay is falling.

  • El Pollo de Oro

    When I listened to Gary Johnson dating Green Party candidate Jill Stein on RT, I said to myself, “This guy isn’t perfect, but he has a much better understanding of the problems that ail this country than either Barack ‘Goldman Sachs’ Obama or Mitt ‘Wall Street’ Romney.”

  • Harrison Terran

    It looks like the economic crisis is hanging on tooth and nail. It’s my belief that our politicians need to take on the problems with more professionally. Maybe they need the services of the economic crisis specialists, the way certain counties have done in the US. By hiring the Orlando Bisegna Index, they have resolved deficit problems and unemployment.

  • Joe V

    I’m impressed. You’ve figured it out! Not many people understand that what the Fed really does is that it disallows the natural deflation that should occur as wages and demand fall. Of course part of the reason they do this is to make it so people have to close the gap with debt. And who does that help?

  • Agent100

    Who is John Galt – and more important, where is he NOW?

  • LARRY

    thats what i have being trying to tell everyone but of course either they or ignorant or foolish.or the media is controled by the government i say wake up america.i hope is not too late.we are 99% of course ritch 1% what a big difference.THATS GREED.

  • ctblizzard

    A lot of good points in the article and in the comments. There are some issues though. In 2006/7 if you asked people if the economy was good , most people would say yes, its booming, but the economy had already started unfolding. By December of 2008 we lost 800,000 jobs in a single month, had our stock market crashing, auto industry almost bankrupt, housing in freefall etc. Are things better now than then? Yeah I think so. However, as others have pointed out the accumulation of wealth at the top is at unseen levels. Think about this if everyone is printing tons of money where is it all going? The offshore bank accounts have over 100 trillion. That is money that is NOT being moved around society. So what do we want, a world where a few percent of the people have so much money they put it in a box while everyone else has austerity? Or is there a better way to do things? I don’t believe in the Robin Hood approach, but we need to get the money moving around. And the corruption at the top levels worldwide will prevent change , short of revolution of some kind, at some point.

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