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19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago

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American Flag Map - Public DomainHas the U.S. economy gotten better over the past six months or has it gotten worse?  In this article, you will find solid proof that the U.S. economy has continued to get worse over the past six months.  Unfortunately, most people seem to think that since the stock market has rebounded significantly in recent weeks that everything must be okay, but of course that is not true at all.  If you look at a chart of the Dow, a very ominous head and shoulders pattern is forming, and all of the economic fundamentals are screaming that big trouble is ahead.  When Donald Trump told the Washington Post that we are heading for a “very massive recession“, he wasn’t just making stuff up.  We are already seeing lots of things happen that never take place outside of a recession, and the U.S. economy has already been sliding downhill fairly rapidly over the past several months.  With all that being said, the following are 19 facts that prove things in America are worse than they were six months ago…

#1 U.S. factory orders have now declined on a year over year basis for 16 months in a row.  As Zero Hedge has noted, in the post-World War II era this has never happened outside of a recession…

In 60 years, the US economy has not suffered a 16-month continuous YoY drop in Factory orders without being in recession. Moments ago the Department of Commerce confirmed that this is precisely what the US economy did, when factory orders not only dropped for the 16th consecutive month Y/Y, after declining 1.7% from last month

#2 Factory orders have now reached the lowest level that we have seen since the summer of 2011.

#3 It is being projected that corporate earnings will be down 8.5 percent for the first quarter of 2016 compared to one year ago.  This will be the fourth quarter in a row that we have seen year over year declines, and the last time that happened was during the last recession.

#4 Total business sales have fallen 5 percent since the peak in mid-2014.

#5 S&P 500 earnings have now fallen a total of 18.5 percent from their peak in late 2014.

#6 Corporate debt defaults have soared to the highest level that we have seen since 2009.

#7 The average rating on U.S. corporate debt has fallen to “BB”, which is lower than it has been at any point since the last financial crisis.

#8 The U.S. oil rig count just hit a 41 year low.

#9 51 oil and gas drillers in North America have filed for bankruptcy since the beginning of last year, and according to CNN we could be on the verge of seeing the biggest one yet…

Shale oil driller SandRidge Energy (SD) warned there was “substantial doubt” it would survive the oil downturn. The Oklahoma City company said this week it is exploring a potential Chapter 11 bankruptcy filing.

Based on its $3.6 billion of debt, SandRidge would be the biggest North American oil-focused company to go bust during the current downturn, according to a CNNMoney analysis of stats compiled by law firm Haynes and Boone.

#10 According to Challenger, Gray & Christmas, job cut announcements by major firms in the United States were up 32 percent during the first quarter of 2016 compared to the first quarter of 2015.

#11 Consumers in the United States accumulated more new credit card debt during the 4th quarter of 2015 than they did during the entire years of 2009, 2010 and 2011 combined.

#12 Existing home sales in the U.S. were down 7.1 percent during the month of February, and this was the biggest decline that we have witnessed in six years.

#13 Subprime auto loan delinquencies have hit their highest level since the last recession.

#14 The Restaurant Performance Index in the U.S. recently dropped to the lowest level that we have seen since 2008.

#15 Major retailers all over the country are shutting down hundreds of stores as the “retail apocalypse” accelerates.

#16 If you take the number of working age Americans that are officially unemployed (8.1 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (93.9 million), that gives us a grand total of 102 million working age Americans that do not have a job right now

#17 Since peaking during the 3rd quarter of 2014, U.S. exports of goods and services have been steadily declining.  This is something that we never see outside of a recession…

Exports Of Goods And Services - Public Domain

#18 The cost of everything related to medical care just continues to skyrocket even though our wages are stagnating.  According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year, and yet the cost of medical care just hit a brand new all-time high…

Medical Care Services

#19 Our government debt continues to spiral out of control.  At this point it is sitting at a staggering total of $19,218,516,838,306.52, but when Barack Obama first entered the White House it was only 10.6 trillion dollars.  That means that our government has been stealing an average of more than 100 million dollars an hour from future generations of Americans every single hour of every single day since Barack Obama was inaugurated…

Federal Debt

How in the world can anyone look at those numbers and suggest that everything is okay?

I simply do not understand how that could be possible.

Part of the problem is that Americans have been trained to be irrationally optimistic.  It is fine to have an optimistic outlook on life, but when it causes you to throw logic and reason out the window that is not good.

For example, you can be “optimistic” about your ability to fly all you want, but if you step off a 10 story building you are going to take a very hard fall to the ground.

Similarly, you can ignore all of the facts and pretend that our economic prosperity is sustainable all you want, but it won’t change the fundamental laws of economics.

On a personal note, I would like to thank everyone that has helped make my new book the #1 new release in Christian eschatology on Amazon.com.  I understand that a lot of my secular readers are not going to understand my fascination with Bible prophecy, and that is okay.  I felt that I needed to write this book to address some very serious errors that are being taught in churches all over America today, and I also wanted to inspire believers to face the great hardships and persecution that are coming.

Just because very difficult times are approaching does not mean that it will be time to run and hide.  My wife and I always live our lives with no fear, and when things get crazy we believe that it will be an opportunity to do even more good.  We believe that the greatest chapters of our lives are still ahead of us, and we want people to understand why they can look forward to the future even though great darkness is rising all around us.

So yes, I definitely carry a message of warning.

But I also bring a message of hope.

As we look toward the future, there is much to be concerned about, but there are also things happening that are worth getting extremely excited about.

It is when times are the darkest that the light is needed the most, and very soon light will be greatly, greatly needed in the United States of America.

 
  • Enrique R. DéZuardí

    In a economy not driven by fundamentals numbers & statics do not apply pr govern..

    • Mike Smithy

      Huh? Just say no to crack.

  • ALWAYSTOMORROW

    I normally only sample check 1 or 2 stated facts to see if the evidence shown is credible. I only checked # 14 The Restaurant Performance Index in the U.S. recently dropped to the lowest level that we have seen 2008.

    Click the link, (twice) look at the chart and help me understand how the chart (to me) does not seem to support the statement “recently dropped to the lowest level that we have seen 2008”

    Of course I just may not understand it but it does not seem to support the claim.

    • Mark

      Why look at the chart. Just observe when you go out to eat at a restaurant on Friday or Saturday. For the last couple of years I have noticed many local places are empty with smaller portions and less on the menu. Also they never keep napkins at the table or condaments. Me and my wife do not go out much anymore because it’s much more expensive and less portions. I have gotten to be a good cook. Also, I have noticed some local restaurants and chains going out of business with empty buildings and for lease signs up.

      • ALWAYSTOMORROW

        For taste and more it’s ON-COR. I’ll be there Wednesday at 7:30 for diner.

        • SunnyFlaSnotress

          Their sliced turkey & beef patties aren’t bad for cheap & easy… not that I’ve bought any lately.

      • messtime

        Same here in New Zealand.

    • Rorschach

      “Of course I just may not understand it but it does not seem to support the claim.”

      Clearly you don’t understand troll. Troll harder.

  • Stove

    There is nothing wrong with the economy. John Maynard Keynes philosophies are great. Print money out of nothing forever and it doesn’t matter in the end we are all dead. Makes perfect sense. And of course I am being sarcastic.

  • Robert

    The Baltic Dry. index hit a low of 290 points in Feb but has climbed just above 400 currently. Whoopee. In May 2008 it was 11,973 points. Plenty of commentators continue to put lipstick on the economic pig but it is still a pig. I would suggest that folks with significant debt compared to their incomes study up on bankruptcy and also be prepared to lose your house if you lose your job. 2008 déjà vous. It is true that not all vessels sink in a storm but some do due to one thing or another. Lots of folks are about to go under sad to say. Many will also be relatively unaffected. I am guessing the crowds at the PGA golf tournaments are fairly safe. Corporations still commit millions to the purses while firing workers. We will reap what we sow by screwing our fellow citizens.

    • ALWAYSTOMORROW

      Excellent advice Robert. “Study up on bankruptcy” , “Prepare to loose your house.”

      It seems it is perfectly acceptable to most people to do what ever they want with the escape of bankruptcy tucked away as an easy out.

      People here talk all the time about how many people are supported by government services. If you make bad decisions that lead to bankruptcy, you are just as bad if not worse than they are.

      • Robert

        I would not suggest that bankruptcy is a great idea but if circumstances warrant then to court you go. It is legal. Creditors who loan money to risky people bear their own responsibilities. A business person who carries a creditor for very long is foolish. Lower the hammer early. I would also say that most bankruptcies are due to crushing medical expenses. Anyone could become a victim with that. Perhaps you have a not diagnosed cancer right now that will drain your finances. It happens. I have known a couple of people who declared bankruptcy. Bad circumstances cascaded on them and there was no real choice. They did not enjoy the experience.

      • Yawn

        dont be afraid of BR it means nothing..it is a way to start over…get a second chance…businesses use it all the time,.,,if you feel stigmatized then your the fool…credit is a risk business..if you gave it your best shot a failed then whoooopee…BR and try again.,…its there for your use so if you need it use it,,,,

        • ALWAYSTOMORROW

          I do see the points people here are making. Bankruptcy is legal. It gives you a second chance and sometimes there is just no other choice.

          I guess my mistake is looking at it that when you borrow money and promice to repay it, not doing so is lying and stealing. ( unless of course you just can’t ) then it is okay.

          • Yawn

            depends what it was used for..if you borrow a bunch and hit the strips clubs and get a new corvette vs opening a lemonade stand that did not work out…

            its there to help you succeed not make you feel guilty..old saying many failures will be dealt in the bid for success…

          • ALWAYSTOMORROW

            If I borrowed money from you and filed for bankruptcy and couldn’t pay you back and you were out your $50,000, would you mind less if my lemonade stand failed instead of me spending it on strip clubs?

      • Rorschach

        “. If you make bad decisions that lead to bankruptcy, you are just as bad if not worse than they are.”

        And people should be taking advice from you the troll? Like you would know anything other than the buffoonery you post.

        • Mr. Cipher

          Well said.

          • SunnyFlaSnotress

            AlwaysTomorrow is the BEST poster on the board. Rorschach is the Mega Troll.

          • Rorschach

            Sunny was the forklift on-time today to help you out of your bed?

          • SunnyFlaSnotress

            I planted my 2 feet on the ground, scratched my butt & thought of you when I got out of bed Rorschach

          • Rorschach

            This was after the fork-lift broke down and they had to get another one to lift you up out of the bed?

          • SunnyFlaSnotress

            nah.. I don’t require construction equipment, or moving men, or anything

          • Rorschach

            So you require a giant crane. Gotcha.

          • SunnyFlaSnotress

            a giant crane is construction equipment

          • Rorschach

            I didn’t say a forklift but a giant crane. But you wouldn’t understand that would you? Troll harder.

          • SunnyFlaSnotress

            yes, a crane is construction equipment

          • Rorschach

            Troll harder.

          • Zoo keeper

            You should be caged.

          • SunnyFlaSnotress

            Take that kink down the road buddy

        • ALWAYSTOMORROW

          My statement was an opinion not advice. I wouldn’t give advice because quite frankly I don’t care one iota if you or anyone else goes completely broke and doesn’t have a pot to ship in.

          Rorschach there is a lyric in Drakes “Started From The Bottom” song at 2:42 that perfectly describes how I feel about you, it says….”gonna worry about me, don’t give a fock about you.”

          • Rorschach

            You might want to go back to school and choose something other than trolling because you are a massive failure at it. Keep it up you provide so much amusement and laughs.

    • SunnyFlaSnotress

      471 at open today 4/5.
      The way I see it, the BDI is running about average.. The years 2004 to 2011 were an aberration. A few more months may be more telling.
      http://1.bp.blogspot DOTcom/-ZMhF3ujAl6w/VA37tJqps-I/AAAAAAAAAkE/ruRfeX6MiuE/s1600/bdi.png

      • Rorschach

        Stop pretending like you know something about economics. Sunny you are the last person (troll) anyone should listen to for advice.

        • SunnyFlaSnotress

          the chart speaks for itself

          • Rorschach

            Did you draw that chart with crayons or did you use paint?

          • SunnyFlaSnotress

            somebody else did.. it looks fine to me

    • TSA_TheSexualAssault

      Baltic Dry Index is nice for overseas trade, but US heavy truck sales collapsing is a great indicator of how crumbling interstate trade is.

  • Barry Goldwater

    As most of you know I’ve been withdrawing cash from my banks since last year.
    I went last week to make another withdrawal and was asked point blank what I needed the money for ! WHAT ? This is the first time that question has ever been thrown at me concerning my own money. It’s not any of their business so I gave a vague answer about ” just needing the money “.
    I can safely offer this as concrete proof something is terribly awry in the economy. If you guys have cash in the bank you’d better get to it soon because when banks start asking these questions about your deposits something big is about to go down.

    • ALWAYSTOMORROW

      I have actually been asked to sign a paper from the bank stating something like, withdrawing large sums of cash can be unsafe.

      I wouldn’t. They are completely out of their minds.

      • TheLulzWarrior

        Whitdrawing money from the banks is only a temporary solution.

        There is still going to be inflation, the financial oligarchy will still be able to steal the value of your money.

        • ALWAYSTOMORROW

          One day at a time.

      • Mr. Cipher

        I had to sign the same form. The only danger I faced was lifting the large bundles into my trunk. I have a bad back.

        • SunnyFlaSnotress

          I’m not fond of your front either 🙂

      • SunnyFlaSnotress

        I’ve only used online banking w/a major investment company for years upon years

      • retired22

        They want to make dealing in paper money as difficult as they can!
        for one thing,they don’t have enough cash to pay out if all the depositors wanted their money at the same time!

        • ALWAYSTOMORROW

          The way many here seem to run their finances, one small bank should have plenty of cash to close out all their accounts all at once.

      • Guest

        That’s crazy.

        Insanity is not just reserved stateside. I understand that PM Trudeau is getting the Canadian public ready for bank bail-ins. I remember when PM Harper was in power, it was his government that signed the law for this to happen the near future.

        • I Shot the Sherriff

          He is actually getting Canadian public ready for the North American Union. All digital and chips.

    • David

      They treat you like a terrorist for taking your OWN money out of the bank. They are required by the government to fill out a Suspicious Activity Report or S.A.R. on anyone taking out $5,000 or more of their own money. Amazing way to treat honest, hard working citizens. And yet foreigners come in and buy homes with all cash and no questions asked!

      • TheLulzWarrior

        This is why jihadists have stores and organize smuggling operations as covers for their activities, that way they are able to bypass that completely.

      • retired22

        They don’t think you are a terrorist!
        If they did, the bank manager would take you into his office to do some really big money deals!

      • It is NOT your money.
        It is not your bank account either so quit pretending it is.
        The account is opened NOT IN your name.
        The account is opened THROUGH your name.
        The difference implies the surety on the account is held by some other person.
        I suggest you find out exactly who that is and hold them accountable for any and all activity associated with said account.

        • TSA_TheSexualAssault

          Yep. It’s no longer your money after you deposit it. You are a creditor of the bank, almost last-in-line to be paid in bankruptcy.

    • TheLulzWarrior

      Dude, inflation.

      Understand, they steal the value of money, it is still going to be worth less and less.
      The Happenng will only make that aspect much worst, you ought to invest the money in things that will be just as valuable if not even more valuable after SHTF.

      • Steeve Girard

        I hope you people have a basic trade, because that trade might be the only way you will be able to live in a few years.

    • elmcqueen3

      I went to my own bank to change a one hundred dollar bill…I wanted 3 twenty’s, 2 tens and 4 fives…I was asked what my account number was…I told the clerk I didn’t have my check book with me…the clerk says “no problem” just give me your social security number…I say’s “Lady I’m just wanting to change a one hundred dollar bill”…further more “I don’t give my social security number out for no one”…She says “I can’t help you without some form of legal identification…I says “would my drivers license by okay”…She reply’s “yes that will work”…I says “I don’t believe I have to go through all this just to change a one hundred dollar bill when I can walk across the street to the Dollar Store or Walgreen’s and ask to have a one hundred dollar bill changed and they would do so…”Sorry” the lady says…”It’ a new government banking regulation and if we don’t comply with the government’s mandates we will lose our banking license”…OMG…I couldn’t believe what I was just hearing…all this run around from my own bank just to change a one hundred dollar bill when I could walk across the street and get er done with no questions asked…I’d like to know what the hell is going on with the banks in this country.

      • Steeve Girard

        wow! It’s their toilet paper and they need authority just to fraction it? It’s getting more nuts by the second.

      • SunnyFlaSnotress

        Well, there are retail establishments that won’t make change unless you buy something.
        I will guess that the legal mandate is that ID has to be shown for any transaction.. including change.

        • elmcqueen3

          What’s this world coming to?

      • aranyani

        I had to go through the same c**p at my own bank to get a roll of quarters. Banksters.

      • Priszilla

        I had the same years ago. I finally opened my account with a bank that didn’t give a fuss about identification when changing two bills into three or sth like that.

      • L. A. McDonough

        Quit the damn bank and go elsewhere like a local credit union. It ain’t rocket science.

        • elmcqueen3

          I’ve been banking at my Chase Bank since 1967 and I’ve never been treated like this before…with these new government banking regulations Credit Unions are not going to treat you or I any differently…Next time you go to your Cedit Union ask them to change a one hundred dollar bill for you…don’t give em your account number…then get back to me.

          • Gay Veteran

            why in the world do you have your money in one of the Big Banks??? that is INSANE!!!
            are you new here?

          • elmcqueen3

            It makes no difference which bank you have your money in…No bank gets around federal banking regulations and that includes your bank.

          • Gay Veteran

            the point being that the Big Banks are bankrupt, who would be stupid enough to keep deposit money there

          • elmcqueen3

            Chase Bank is not bankrupt..in fact I just took money out of my bank account the other day and picked up a money order with which to make an online purchase
            …No problem…My bank is still liquid…
            How’s your bank doing?

          • Gay Veteran

            if you think the Big Banks aren’t bankrupt then you are going to richly deserve the a ss raping you’ll get when the bail-ins happen.

          • elmcqueen3

            You didn’t answer my question.

          • Gay Veteran

            my credit union is fine

          • TSA_TheSexualAssault

            Unless your credit union is completely out of the NYC money markets and is holding huge amounts of physical metal and US currency in addition to a high-quality local mortgage portfolio, uhhh no.

          • Gay Veteran

            when the choice is between Skank of America and my credit union, then I’ll choose my credit union

          • TSA_TheSexualAssault

            The same rules apply to as credit union as a bank: your account balance is not yours unless the institution “allows” you to have it back. You are a 3rd tier creditor in bankruptcy or re-organization since Dodd-Frank. Get Out Of the System is the only solution for individuals. If you “must” stay “in” for convenience, minimize exposure. Don’t be that guy with $80000 in a checking account/ 0.02% CD’s to help with “Bail-In”, in order to save $8.95 monthly fee.

          • Gay Veteran

            good points

          • No not again

            ….and the bail-ins are coming….

          • Gay Veteran

            yep, and you had better have some cash outside the bank.
            so again, anyone with money in one of the Big Banks is going to get a ss raped

          • TSA_TheSexualAssault

            No one deserved the scale of theft being planned by the Fed’s + the banks.

          • TSA_TheSexualAssault

            Liquid is way different than solvent on a non-fraud accounting standard. Glad you got their money dispensed.

          • ALWAYSTOMORROW

            Me.

          • TSA_TheSexualAssault

            Keeping more than a few months worth of bill-paying in a bank or credit union is risky. It’s bad enough to hold cash and “enjoy” 8% annual devaluation of US$

          • robert pavlik

            The big banks are just bankrupt enough that the gov’t would bail them out with YOUR (and my) taxpayer money. The little banks they can let go to Hell. Too big to fail. Think about it.

          • Gay Veteran

            yep
            🙁

          • Barry Goldwater

            Perhaps you’re unaware that the big banks are the leaders setting trends and policies which filter down to smaller banks. Back in the day it was City Bank and Bank of America issuing credit cards and later debit cards which are now industry standards. Example : can you find a local bank that doesn’t issue debit cards? As big banks go so goes the nation.
            This is about first restricting cash and finally eliminating it giving the banksters complete control of your financial standing whatever it may be.
            Never trust the banksters.

          • Gay Veteran

            when the choice is between Skank of America and my credit union, then I’ll choose my credit union.
            and diversity is key: gold coins, silver coins, cash, etc.

          • Barry Goldwater

            Understood of course but keep in mind the valuation of Dollars held in credit unions will collapse just like any others when the whole thing goes in the crapper. Ultimately credit unions aren’t immune to the greater problems within our system. You’re correct on holding other forms of value in anticipation of the inevitable.

          • TSA_TheSexualAssault

            That’s not .gov regulation, it’s a customer-hostile penny-pinching internal policy of Chase. I get $1500 in small bills from various branches of US Bank or B of A regularly. No ID no account, no problem.

          • elmcqueen3

            What method of withdrawal did you use…check…credit card?…I don’t think my band was lying to me when they said it was a new government banking regulation with which they are now required to comply with…Next time you’re in a bank try exchanging a one hundred dollar bill…then get back with me…I’d be curious to know what transpired.

          • TSA_TheSexualAssault

            Friday, 08April 2016. Walked into US Bank in Portland Oregon that I don’t have a local account at and handed a $1500 stack of 20’s over counter and asked for fives & ten’s. “Thank you, have a nice day.” No ID, no problem. ********It’s Chase that is the problem.******** Chase told safe deposit box customers that they are not allowed to keep cash or pm’s in them! Avoid Morgan bankster-run institutions, as the worst of the too big to jail.

      • joe_bob_gonzales

        whats going on? I would think that is as clear as a spring day what the Fark is going on.

      • Same in Canada

      • newcoms

        I was also told they keep a record every time you break a large bill. And that it is noted on your bank account! I have to deposit my small paycheck but I turn around and withdraw it the next day.

        • elmcqueen3

          I believe they are keeping a record of direct cash transfers, etc…for what reasoning I have no clue.

    • James Dohnalek

      Thank for the info. GREATLY APPRECIATED.

    • SunnyFlaSnotress

      “I went last week to make another withdrawal and was asked point blank what I needed the money for ! WHAT ?””I can safely offer this as concrete proof something is terribly awry in the economy.”

      lol.. maybe you just have a nosey unprofessional bank

      • TSA_TheSexualAssault

        “Know Your Customer” program forced on the banks, “or else”.

    • Kp23

      Dude, how stupid are you….if the economy collapses the money will be worthless moron….there’s no point in taking it out unless buying gold or silver….at which is useless until said collapse….this collapse has been happening for years and years according to se websites….yet here we still are….

      • greanfinisher .

        Durlng the last Depression, cash still retained some worth, but yet FDR confiscated all of the gold from private hands. If the unthinkable occurred, you can be sure that the federal government wouldn’t hesitate for a moment in confiscating all of the gold, silver, and then some (in a desperate attempt to prop up the financial sector).

        • thomas

          Most people never gave up their gold. Proof is, investors own most of the pre 33
          gold coins in their portfolios!

          • greanfinisher .

            All that I can tell you is that the big banks not only make the rules, but also run this country. If any or all of those big banks were about to faulter, make no mistake. Their political cronies would certainly do anything and everything conceivable (and inconceivable) to support those banks regardless of the collateral damage.. In such a scenario, nothing would be off the table even if this would degenerate into raiding all of the nation’s public and private pension plans, bank deposits, credit union deposits, IRA’s, Roth IRA’s, 401K’s, stocks, CD’s, and money markets. In an effort to support the currency, this could conceivably involve house-to-house searches by army personnel for any or all valuables, cash, (likely firearms as well), precious metals and fine jewelry. They will do whatever it takes……….and then some.

        • framer

          Civil Forfeiture. Happening all across America, with nary a peep from the sheep. Drill has already gone Live.

          • greanfinisher .

            You can be sure that the political cronies are just itching for the right pretense to declare a state of emergency (aka ‘martial law’), and then they would almost certainly confiscate all of the firearms in the country. Then there would be an unmitigated nightmare that nobody bargained for.

        • TSA_TheSexualAssault

          This why, By Law, ASE and AGE’s are “numismatic” and not subject to confiscation as bullion was in 1934. Of course, laws can be quickly “adjusted”, but they have to find a tiny coin that doesn’t rot or rust. I can keep 10 years savings in my pants pocket in gold coins without much bulge.

      • L. A. McDonough

        Besides, gold and silver will be outlawed by the gov. and everything will go to debit or credit. Bartering items that are best are: ammo, hand tools, canned foods, hygiene items, and other practical everyday usable items.

      • Barry Goldwater

        Consider that in a Greece style meltdown where liquidity disappears overnight as has already nearly happened twice since 1998 consumers will be sharply limited at the very least. In that event it’s too late going to the bank to get cash or draw money from an ATM. Remember the images in Greece of people who could buy food at the market but could not use the ATM ? Secondly during an outright bail- in it will be your deposits that take the hit so having usable cash on hand is wise planning. Then finally I would say perhaps the stupidity lies with those who’re waiting for bail-ins when their accounts get the haircuts or least we can say they’re ignorant of bail-in legislation already on the books.

      • No not again

        Babysteps…..first they took our jobs, our credit, our homes, our Sovereignty as taxpayers and now call many beggars. Yes, this is different.

        • TSA_TheSexualAssault

          Homeless on the continent that our grandparents settled.

    • greanfinisher .

      Legally, whatever amount that you deposit in any financial institution ceases to be your’s. In the government’s view, you’re an unsecured creditor who is simply lending money to that institution. At the moment, it’s advisable to keep all account deposits in any of those institutions to the bare minimum, and just horde cash.

    • Mondobeyondo

      It should be none of the bank’s business what you need the money for. It never has been their business in the past – why should it all of a sudden be now? I agree – there’s something awfully suspicious going on. Warning signs of a coming cashless society? Perhaps.

      “It’s your money. You paid for it!” – George W. Bush, 2004

      • No not again

        ….2001….Rumsfeld said $2Trillion was missing

  • K

    Optimistic, even that does not explain it. There just has been a total break with reality. Too much of that, reality is whatever you want it to be nonsense.

  • dadelaw

    ” My wife and I always live our lives with no fear”.

    I’m sorry but that is irrational and dumb. Fear is the mechanism we are all equipped with by nature (like pain) to warn us when danger is at hand. To adopt the macho approach that you’re a hero because you’re strong and fearless is the mindset of a fool… and you will suffer for it.

    I am the opposite: intensely fearful of everything (probably not a good idea either). But I’m in my late 60s and I don ‘t have a mark on my body, an ache or pain anywhere and I’m lucky enough to be in perfect health. This is largely (though not, of course, exclusively) due to my predilection for avoiding danger. I’m not an ex-footall player so I don’t risk their overwhelming likelihood of Alzheimers. I wasn’t a “runner” so my knees are in perfect shape… and I left the United States 7 years ago to avoid the dreadful unrest that I believe is about to unleash itself on your God-forsaken country.

    • …then you must have escaped to Canada?

    • ALWAYSTOMORROW

      Dadelay, you planed well and you are reaping the benefits of good planing. Cause and effect.

      Congratulations. Enjoy your retirement. 🙂

    • Robert

      I am reminded of a Bible story where a wealthy man said the same thing about his “safe” condition and that same night the death angel showed up. Made me also think of the couple in MA sitting in the high end car during a storm and were both killed when a tree fell onto the car. There is no safe place. People die all the time in “safe places”.

      • Richard

        Your ‘memory’ serves you badly. There is a difference between being struck by lightning and willfully ignoring the danger inherent in playing American Football or race-car driving or”being without fear” in any number of high-risk activities. I know very well you can see that. If you live your life with no fear, you are inviting jeopardy. Many people live that way. I don’t.

    • GK

      You sound like the perfect candidate for obeying God’s command to “work out your own salvation with fear and trembling”! Hopefully you fear death more than everything else… Or at least the possibility of an eternal place of torment and punishment for sin. If you do (or if you don’t), I encourage you to start being more concerned about your eternal home than you are about being unharmed in this brief life. John 3:16 holds the answer for you and all mankind for eternal life insurance: “For God so loved the world, that he gave His only begotten Son that whosoever believes in Him shall not perish but have everlasting life.” Jesus Christ took the penalty for our sins (lying, lusting, stealing, and you name it) by dying the death of punishment that we should have died… though being falsely accused. He is the perfect sacrifice for our sins because He lived a sinless life and rose from the dead to give life to as many as will receive Him. Will you receive the free gift He offers you? God will give you the faith to believe in His son, even if it takes fear to get you there. Jesus said hell is a place of outer darkness that lasts forever… A place of weeping where the fire never dies.

      • dadelaw

        Hey, you’re talking a foreign language here, son.Don’t understand. I’m an atheist. Sorry.

        • steve

          “I’m an atheist. ”

          And this is why you FEAR!

        • Paul Patriot

          Never too late to learn a second language……..

        • Paul Patriot

          Perhaps it’s time you learn that foreign language.

      • TheLulzWarrior

        You are an atheist troll trying to make Christians look bad.

      • SunnyFlaSnotress

        There is no god
        (this is always a good one for getting oodles of posts..lol)

  • …there is NOTHING wrong with the American economy, as Seattle, Denver, Chicago and automobile industry in Detroit are ALL booming! No one is going hungry and Sears isn’t bankrupt, yet! So what is the problem? Of course, Trump is trying to scare people to vote for him, so he’ll say anything of a coming apocalypse! ..everything is HUNKY DORY!
    …and if everything was so bad, this Jesus Christ would be returning back to earth (as promised), but now some scholars are doubting whether he even existed!….??? did he???

    • David

      My wife and I were just in Seattle and saw a lot of homeless, zombie looking people roaming the tourist areas….many more than we saw only two years ago. Maybe things look good on the surface but there are definitely changes for the worse if you look around the streets… a growing underbelly of extreme poverty is obvious.

      • SpunkyBunks

        Crime is starting to spread into suburbia at an accelerated pace across America. There aren’t any good neighborhoods left. And the rise of Section 8 vouchers now lets scum live everywhere. All in the name of “diversity.” We are now seeing the byproducts of letting incompetent fools with liberal arts fluff degrees (social science, education, etc) create the policies that have destroyed our nation.

        Regular Americans have become complacent since we always assumed that crime would stay in the ghetto, but that’s not the case anymore. The Obama administration is working as hard as possible to commute crime punishment and to let our borders be open for anybody.

        This mess will never be turned around.

        • messtime

          I agree.

        • Mike Smithy

          Don’t worry, President Zero will ensure that there aren’t any good neighborhoods left pursuant to his Affirmatively Furthering Fair Housing scheme. Since we don’t want to live in the ghetto, President Zero is bringing the ghetto to us.

    • rentslave

      Powerball sales have plateaued,and cat food prices are soaring.

  • matt

    I always carry one of those small head torches for when the lights go out..It’s amazing how just one very small light can disperse a very large area of darkness..hm!

  • VigilanteCaregiver

    “We will see the day when we live on what we produce.” – Marion G. Romney, Welfare Conference 1976

    That’s what I’m working towards. The nation can be restored and things improved. However, there’s enough lunatic citizens that want a weak nation, a collapsed economy, demographic winter, and doing their best to provoke the Lord, Our God into destroying them to turn this around – plus the majority is scared of the rabid leftist usurpers and deviants, so they’re allowing this ruin.

    So, until the majority wants to solve this usurper and deviant problem then I guess it’s build barriers time ’til the entitled pervert zombies burn out.

    • TheLulzWarrior

      Just as was stated in Ayn Rand´s Atlas shrugged, you gotta have skills that are usefull after The Happening.

  • Mark Caldwell

    “You can ignore reality but you cannot ignore the consequences of ignoring reality” Ayn Rand

    I know Michael, she was an atheist, but it’s still a great quote.

    • TheLulzWarrior

      Especially when you live a society that has made ignoring reality into a state religion!

    • SunnyFlaSnotress

      I’m starting to see houses I like at prices I like again.. now if only the realtors would actually keep in contact with me..

      • there might be a reason realtors aren’t keeping in touch with you. If it’s happening a lot, then it’s a trend and it’s usually the person, not the realtor

        • SunnyFlaSnotress

          But I haven’t even spoken directly. And my messages are polite. They don’t have a chance to be put off yet.

          • ALWAYSTOMORROW

            Realtors are horrible at returning calls. I have one realtor that I have have dealt with locally. When everything took a dump back in 2008, I even used my local realtor to complete a transaction way down in Dunedin Florida.

            I loved when everything fell apart back then. Homes and condos were a steal because of the idiots who bought more than they could afford.

          • Now that is weird. Get a new realtor 😉

          • Guest

            You might want to change your avatar. That might be scaring them away. Just a thought…..

  • mtntrek3

    Big banks, big corporations, big government. They increase, we decrease. The driving force behind these three……… greed. That mostly sums it up.

  • XSANDIEGOCA

    Well….Obama’s Third Term should do the Trick!

    • df NJ

      I’m pretty sure he’s pretty sick of being president. Congress has all the power. What bills has he signed that has made any positive difference in our lives? None.

      • Rorschach

        You mean what executive orders.

      • XSANDIEGOCA

        Oh, I was just being sarcastic, referring to Hillary.

  • James Dohnalek

    Mike,
    Aliways continue to report on the economy Vs. bible prophecy. We
    can prepare ourselves for the apocalyptic FINANCIAL collapse. You have an art in writing and economic reporting. YOU ARE THE ONLY ONE that is at the head of this field and everyone else is far behind. Enjoyed this last article you wrote, I have saved it for my file, to be re-read. Take care.
    Wishing your family the best. Also take note of Planet X, nibiru !!! ; and the catastrophic event that may occur. They are occurring now, i.e. Earthquakes and erupting volcanoes.

  • Priszilla

    Tramadol is one of the best selling opioid painkillers today. Brought to you by Grünenthal, which also brought you Thalidomide.
    Chief Research Director of Grünenthal got his expertise experimenting on concentration camp inmates.
    Just ploughing through Wikipedia is illuminating.

  • Steeve Girard

    The economy is groaning like a sinking german U-boat.

  • REALIST

    Why all this scary doom stuff? Christ is returning and that is GLORIOUS. So, who cares? We can’t do anything about it since EVERYTHING is in the Lord’s hands and it is the way the LORD wants it, so why all this discussion?

    I don’t worry because I don’t care about anything. If I die, I die. I’m a soulless talking Darwinian monkey, so I don’t have to care about anything. As long as I get my next meal, why care? I trust in the Lord.

    • SunnyFlaSnotress

      There is no god

      • df NJ

        Or worse, there is a God, but he’s so disappointed with us he’s now indifferent. At least when he was angry at us he still cared.

        • Bill G Wilminton NC

          God sent His Son Yeshua to die for our sins……He is not disappointed with us as God said “there is none righteous no not one”
          Shalom

      • Voldemort

        Einstein, Newton, Jefferson, Franklin, Edison, Dampier, etc, all disagree with your statement. But you’re smarter then them, right? Right. Yup.

        • SunnyFlaSnotress

          As a matter of fact, I am ::smile::

  • df NJ

    RE: “But I also bring a message of hope.”

    Uh, like what message?

    Money talks, BS walks. Wealth inequality is at all time highs. When Republicans start advocating raising taxes and Keynesian economic policies then I think our economy has a chance to get kicked started again. But whatever it is they’ve been advocating for the last 30 years does not seem to be working, that is, for the common person. The rich love all the wealth inequality.

  • Paul Anders

    I can’t believe all the bitching here about banks…the common thread of course being “BANKS”!
    Quit crying about it and do something…close your accounts and go to CREDIT UNIONS!

    • ALWAYSTOMORROW

      Joe Louis said it best, “You can run but you can’t hide.”

      • Paul Anders

        True, but you don’t have to run to the middle of the ring and stick your chin out either…

  • Mondobeyondo

    There’s a song by Tracy Bonham (no relation to the late Led Zeppelin drummer) called “Mother Mother”. Some of the lyrics are:

    “:I’m hungry, I’m dirty, I’m losing my mind, everything’s fine!
    I’m freezing, I’m starving, I’m bleeding to death, everything’s fine!…”

    The signs and statistics are everywhere that the U.S. economy is in very Dire Straits. Money for nothing, and your chicks for free. (Sorry… oops.) People who, at this point in time, insist that “everything’s fine” are bordering on delusional.

  • T Bone

    This may be a simple/stupid question for you guys but here it goes. Let’s say you have 3 to 4 hundred thousand dollars in the bank. Do you take it all but bill paying dollars out? If so wtf do you do with it? I think they are fixing to outlaw the 100 dollar bill. So if you take it out in 20’s then you have sacks of cash.

    • SunnyFlaSnotress

      Take it fo a gypsy to have it blessed.

    • flautistmaniac

      Buy land or things that won’t be worthless.

  • John Macpherson

    What’s the effect of this (the U.S economy going down) to the rest of the world, especially to the economies of third world countries?

    • Guest

      We went to Mexico last month. NOBODY in the city we were in would take American money, only the local currency. Our friends (not in MX) told us this was happening. They had been to this certain place in Mexico many, many times. Then late last year, they said nobody there was taking US dollars. They had to exchange their money for pesos instead of US dollars at the border. Admittedly, I had a hard time believing it, until I saw for myself. I figured ok, maybe a store or two. No, it was everywhere. Very strange.

      • John Macpherson

        That’s really strange. Where is the story on the main stream media?

        • Guest

          Perhaps because it’s Mexico. It might have been just that one city, but it is a major shopping centre.

  • Rorschach

    Still trolling are you?

  • Rorschach

    Yep definitely a troll.

  • Orac4Prez

    I know you guys are concerned about the US, but financial problems are clearly hitting home elsewhere. I have a couple of friends who are married to Chinese women and live in China. They want to return home (ie leave China with their spouses), but they now find it impossible to move any of their money. That includes the money they brought into the country to set up their businesses, etc. One of those friends went to Thailand (with a Chinese tour group) for a holiday with his wife and daughter, and then had to post a guarantee (equivalent to several thousand dollars) presumably to ensure they returned! Shortly afterwards, they had a friend visit from Europe. On departure at the airport the friends luggage was opened by Chinese officials, who demanded to know how much money they had on them and in their bags!

  • df NJ

    The only stat that matters is the copulation rate:

    “The total population in the United States was estimated at 321.6 million people in 2015, according to the latest census figures. Looking back, in the year of 1900, the United States had a population of 76.1 million people.”

  • Harquebus

    End time bible prophecy is all about the collapse of the Roman Empire. Easy to predict for those with insight. The similarities between the Roman and Western Empires make it easy to assign Bible prophecies to our own collapse.

  • jumper74

    Okay, so what can a citizen of said country do to live in spite of these things being out of control; become a hoarder?

  • KidMenuBabe

    Globalization shot itself in the foot, restaurants are empty because servers and cooks are dirty, third world dirty. or plain stupid. My husband looked at a menu in our county’s finest number one…five star restaurant, and asked if he could order from the kid’s menu because the meals are SMALLER. The waitress, barely able to string a sentence together since she was new here from Panama. said, “I’ll check with the manager.” The manager came over and looked my 30 year old husband up and down and said, “Kid’s menu is okay for him.”
    Are we in a prison here in the USA?
    Malls are closing down, anchor stores are closing everywhere because employees can’t speak English, aren’t trained for their jobs and customers, the few remaining home grown Americans of every color won’t put up with insults from these foreign goons who earn nothing, and don’t care! An Indian boy took my store credit card, Lord and Taylor—and copied down the account number. I was purchasing a pair of sunglasses. A month later, I got my bill and I was charged over a thousand dollars worth of leather goods, handbags and gloves. I called the store and everything was resolved, thank God. I haven’t shopped a luxury retail establishment since. I stick to online purchases, like everybody else. If the corporations import folks to work here, believe me, the rest of us will desert poor retail service and apparently we have.
    Try visiting an old fashioned Sears store like we did, all the employees were Indian, all of them in knots on the sales floor chatting away with each other, and why not? No customers were in the store at all!

  • Lea

    Well, you’re all scaring the hell out of me! My husband and I are starting to be serious about saving money. Where do you suggest we keep our money, if the bank is a bad idea right now? Safe at home? Safety deposit box? Where? Thanks for the help.

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