It Is Time To Go: Over Half Of All California Voters “Have Considered Leaving The State”

Why in the world does anyone still want to live in California?  Great weather and good paying jobs are the two biggest positives that residents often point out, but the high cost of living and the absolutely ridiculous housing prices often eat up all of the extra money that Californians think that they are making.  In fact, it was recently reported that it now takes approximately $350,000 a year to live a middle class lifestyle in the city of San Francisco.  If you have a ton of money, it can partially insulate you from the problems that are increasingly ravaging the state, but unless you never go out in public nothing is going to insulate you completely.  Cities all over the state are degenerating into drug-infested, crime-ridden hellholes that are literally being overrun by millions of rats.  California has some of the worst traffic in the entire world, unchecked illegal immigration is causing a whole host of social problems, and gang activity has become a massive problem.  On top of everything else, California is being constantly hit by wildfires, mudslides, earthquakes and other natural disasters.  In fact, scientists tell us that it is just a matter of time before “the Big One” hits, and that is probably one of the best reasons to leave California while you still can and never look back.

Yes, there are some California residents that continue to insist that it is a great place to live.

But if California is so wonderful, why have more than half of all California voters “considered leaving the state”?  The following comes from the Los Angeles Times

Just over half of California’s registered voters have considered leaving the state, with soaring housing costs cited as the most common reason for wanting to move, according to a new poll.

Young voters were especially likely to cite unaffordable housing as a reason for leaving, according to the latest latest UC Berkeley Institute of Governmental Studies poll conducted for the Los Angeles Times. But a different group, conservatives, also frequently suggested they wanted to leave — and for a very different reason: They feel alienated from the state’s political culture.

With the way the state is being run, conservatives have been moving out of California in large numbers for years.  In fact, I have a number of really good friends that left the state for political reasons and will never return.

On the other hand, California’s reputation for handing out free goodies has been a magnet for another class of people.  Today, almost half of all homeless people in the entire nation live in the state of California, and this has become such a huge crisis that it literally makes headlines all over the globe.

For example, the following comes from an article in a British news source

Cali Carlisle admits she is a heroin addict — ‘but in a healthy way,’ she insists, even if the visual evidence belies that claim.

Her nose is the brightest shade of red imaginable. She constantly picks at scabs all over her body. Her home is a makeshift bed beneath Interstate 80 in Sacramento.

And Monday was her 26th birthday. Not that you would ever guess. Anyone looking at her would think she is at least 15 years older.

This is the cold, hard reality of the glorious drug lifestyle that so many go to California to experience.

Every year, thousands upon thousands of young people that once had bright futures ahead of them end up on the streets, in prison or dead due to this raging epidemic.

And one of the places where it is the worst is in the capital of the state itself.  Not too long ago, a salon owner in Sacramento made headlines all over the nation when her rant about homelessness on social media went viral

“I just want to tell you what happens when I get to work,” stated Liz Novak, a local salon owner, to the media about what she’s had to deal with trying to conduct business in Sacramento.

“I have to clean up the poop and the pee off of my doorstep. I have to clean-up the syringes. I have to politely ask the people who I care for – I care for these people that are homeless – to move their tents out of the way of the door to my business.”

She ultimately had to move her salon completely because it became clear that things were not going to get better any time soon.

In the state of California today, virtually everything has been defiled.

At one time, California was teeming with natural beauty.  But today the entire state has become a trash dumpster, and that includes California’s once pristine beaches.  Just check out what Dr. Drew Pinsky recently told Laura Ingraham

“There is an organization out here called Heal the Bay which keeps tabs on safety of our beaches in Southern California, from Orange County to Ventura. Since the rains last Winter, [Heal the Bay] has been giving our beaches C’s to F’s, and F means completely overrun with fecal bacteria. What comes with that are other things like syringes, Hepatitis A and other infectious diseases.”

On top of everything else, seismic activity is a constant threat.

There have been more than 1,500 earthquakes in California and Nevada over the past 7 days, and these days that is considered to be a slow week.

Of course most of the earthquakes are very small, but scientists assure us that one of these days “the Big One” will hit the state.  When that day arrives, the geography of the state will be radically changed, and the death and destruction will be off the charts.

We live at a time when our planet is being greatly shaken, and many believe that what we have seen so far is just the beginning.

The coastline of the state of California lies directly along the infamous “Ring of Fire”, and scientists have been persistently warning us that the San Andreas fault is “locked and loaded” and could possibly “unzip all at once”.

It is such a shame what has happened to the state.  California should be one of the most beautiful, prosperous and enjoyable places to live in the entire world.  Unfortunately, Californians have been making exceedingly poor choices for decades, and the consequences of those decisions will be extremely bitter indeed.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time. Of course the most important thing that we can share with people is the gospel of Jesus Christ, and if you would like to learn more about how you can become a Christian I would encourage you to read this article.

A Shocking New Survey Finds That Most Americans Are Completely Unprepared For The Next Recession

Just like in 2008, most Americans are living right on the edge financially, and so any sort of an economic downturn is going to be extremely painful for tens of millions of American families.  When you have not built up a financial cushion, any sort of a setback can be absolutely disastrous.  During the last recession, millions of Americans suddenly lost their jobs, and because most of them were living paycheck to paycheck a lot of them suddenly couldn’t pay their mortgages.  In the end, millions of Americans lost their homes during the “subprime mortgage meltdown”, and today the housing bubble is even larger than it was back then.  Sadly, the reality of the matter is that many of us are just barely scraping by from month to month, and that is a very dangerous position to be in.

A new survey that was just released shows just how vulnerable American consumers have become at this point in time.  According to the survey, the top financial priority for 38 percent of all Americans is just trying to pay the bills, and for 19 percent of all Americans it is dealing with credit card debt.  The following comes from Fox Business

Among survey respondents in the nationally representative poll, 38 percent said their top financial priority is “just staying current on living expenses or getting caught up on all the bills.” Almost 3 in 10 respondents (29 percent) said their chief priority was “saving more money,” and 19 percent indicated they were mainly working on paying down debt from products like credit cards and student loans.

So that means that for nearly 60 percent of all Americans, the top financial priority each month is either finding a way to pay the bills or dealing with credit card debt.

And if you are struggling to pay the bills each month or you are drowning in credit card debt, the truth is that you are definitely not ready for the next recession.

The same survey also discovered that a very large percentage of Americans are not following any sort of a financial budget

More than a decade into the longest economic expansion on record, almost two-fifths of people said in a new Bankrate poll that their main financial priority was just keeping their heads above water on living expenses rather than saving money.

Nearly as many of those surveyed said that they’re not following financial budgets, according to Bankrate’s September Financial Security Poll.

So many people out there spend money whenever they feel like it and they don’t have any sort of a plan for their finances.

And then when they get deep into debt they wonder how that could have possibly happened.

It is so important to take charge of your money and to have a plan for where you want to go financially.  Because if you don’t have a plan for your money, I promise you that somebody else does.  As many of us have learned the hard way, it is all too easy to fall victim to all of the financial predators that are constantly circling these days.  The big financial institutions want to get Americans into as much debt as possible, because the deeper we are in debt the more money they make.

In our society, everything has become all about extracting as much money out of you as possible.  Even when we are at the checkout counter at the supermarket we are asked if we want to get some “cash back” so that they can charge us a “convenience fee” and make even more money.  And of course most of the money that is extracted out of us ultimately ends up at the very top of the financial pyramid, and as a result the gap between the “haves” and the “have nots” continues to grow.

In fact, the U.S. Census Bureau is telling us that the gap between the rich and the poor is now “greater than it has ever been”

In the midst of the longest economic expansion the United States has ever seen, with poverty and unemployment rates at historic lows, the separation between rich and poor from 2017 and 2018 was greater than it has ever been, federal data show.

To be fair, the U.S. Census Bureau has only been measuring this since 1967, and so it is entirely possible that things could have been even worse earlier in our history.

But the numbers do clearly show that the gap has been steadily widening for years, and at this point wealth inequality in the U.S. is far greater than it is in any country in Europe

The Gini index measures wealth distribution across a population, with zero representing total equality and 1 representing total inequality, where all wealth is concentrated in a single household. The indicator has been rising steadily during the past several decades. When the Census Bureau began studying income inequality more than 50 years ago, the Gini index was 0.397. In 2018, the Gini index rose to 0.485.

By comparison, no European country had a Gini index greater than 0.38 between 2017 and 2018.

So what this means is that we have a small group of people at the top of the pyramid doing really, really well, but meanwhile most of the rest of us are deeply struggling.

In fact, survey after survey has shown that the vast majority of Americans are currently living paycheck to paycheck.

The way that our entire system is structured greatly favors Wall Street, the big banks, the largest corporations and those with enormous amounts of money.  And they are able to maintain control of the system by literally buying elections and controlling public opinion through their control of the mainstream media.  Our founders were deeply suspicious of large concentrations of power, and we need to return to the values that our nation was founded upon if we ever hope to turn things around.

Unfortunately, more Americans that ever are convinced that socialism is the answer to the problems that I just discussed, and this is fueling the rise of politicians such as Bernie Sanders and Elizabeth Warren.

But socialist experiments have failed all throughout human history, and socialism would fail here too.

Big government is never the answer.  Sadly, we already have the biggest government in the history of the world, and many Americans seem absolutely determined to make it even bigger.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time. Of course the most important thing that we can share with people is the gospel of Jesus Christ, and if you would like to learn more about how you can become a Christian I would encourage you to read this article.

A Majority Of The House Now Supports Impeachment – And Some Republicans Senators Are Looking Really Shaky

According to the latest count by NBC News, most of the members of the U.S. House of Representatives now support moving forward with impeachment.  And that shouldn’t be too much of a surprise after House Speaker Nancy Pelosi shocked the country by announcing the initiation of an impeachment inquiry this week.  But what is surprising is the number of Republicans that are expressing concerns about Trump.  In the end, this entire ordeal may come down to a vote in the U.S. Senate, and President Trump desperately needs Republicans to stay united.  Unfortunately, even after the release of the transcript of President Trump’s conversation with the President of Ukraine (which you can read right here), some “moderate” Republicans are clearly not standing behind the president.  All that it would take to completely kill the move toward impeachment is a completely united Republican Party, and right now that is not happening.

But of course impeachment proceedings begin in the House, and that is where the focus is right now.

According to the latest count, 220 members of the House “now favor some kind of impeachment action”

Two hundred and nineteen House Democrats and one independent — a majority of the chamber’s 435 members — now favor some kind of impeachment action against President Donald Trump, according to an NBC News tally.

House Democrats reached the milestone a day after Speaker Nancy Pelosi announced a formal impeachment inquiry into the president following claims that he might have withheld aid to Ukraine to pressure officials there to investigate former Vice President Joe Biden and his son.

At this point the Democrats have a solid majority in the House of Representatives, and that is bad news for Trump.

If a vote was taken at this moment, even before any evidence is formally presented, I believe that they would vote to impeach Trump.

In the end, it really doesn’t matter what the truth is in this case.  The Democrats want Trump out, and if it comes to a vote they are going to vote to impeach.

Of course any shred of evidence that could potentially strengthen their case is going to be treated like gold by the Democrats, and several of them had an opportunity to finally read the whistleblower complaint on Wednesday.  The following comes from Politico

A select group of lawmakers reviewed the whistleblower complaint Wednesday while on Capitol Hill. While the members of Congress could not disclose details of the whistleblower complaint, several said that it was cause for concern.

“Having read the documents in there, I’m even more worried about what happened than when I read the memorandum of the conversation,” Senate Minority Leader Chuck Schumer (D-N.Y.) said. “There are so many facts that have to be examined. It’s very troubling.”

When Congressman Mike Quigley was asked about the document, he could hardly contain himself as he described how “alarming” it was…

Quigley asserted the whistleblower complaint “is the political equivalent” of Trump’s claim during his 2016 presidential campaign that he could “stand in the middle of 5th Avenue and shoot somebody” without losing voters.

“What the President said during the campaign, he said he could shoot someone on the street and his base would stay with him. I guess what I read, to me, was the political equivalent of that: defying the constitution, committing a criminal act and thinking, ‘Well I can get away with it,’ ” he said. “Some sort of bizarre cult of personality. Deeply disturbing what we read this morning. Alarming.”

But those sorts of comments are expected from the Democrats.

What is not expected is the number of Republicans that are refusing to back President Trump right now.

For instance, just consider what Republican Senator Ben Sasse just said

Asked if the mere act of a U.S. president asking a foreign government to investigate the family of his American political rival is an abuse of power, Sasse said: “There’s a lot that we’re hearing about right now that’s leading people to ask a bunch of hypotheticals where we don’t really know all the underlying facts yet. So I don’t think it’s all that useful to speculate about a lot of highly particular hypotheticals. But in general terms, American elections should be for Americans. And the idea that we would have foreign nation-states coming into the American electoral process, or the information surrounding an election, is really, really bad.”

And after reading the transcript of the phone conversation, U.S. Senator Mitt Romney told the press that he found it to be “deeply troubling”

“It remains troubling in the extreme. It’s deeply troubling,” Sen. Mitt Romney (R-Utah) told reporters Wednesday, when asked about the transcript.

Three Senate GOP aides said Wednesday that their bosses were grousing and frustrated by the White House’s decision and the sense that Republican lawmakers were being forced into the difficult position of defending Trump while contending with what many see as an alarming or at least problematic transcript.

At this point, it is being reported that Republicans in the Senate have already divided into two camps.  One is being called “the Burr Camp”, and the other is being called “the Johnson camp”, and both camps are taking very different approaches

One early divide among Senate Republicans is between the “Burr camp” and the “Johnson camp,” according to two senior GOP aides who were not authorized to speak publicly, referring to Sen. Richard Burr (R-N.C.), the chairman of the Senate Intelligence Committee, and Sen. Ron Johnson (R-Wis.), the chairman of the Homeland Security Committee. Burr’s faction of the Senate GOP has a darker, frustrated view of Trump’s handling of Ukraine, while Johnson’s wing is more focused on probing Biden, the aides said.

We shall see how events unfold over the next few months, but right now it doesn’t appear to be smooth sailing for President Trump.

And adding to Trump’s difficulties is the fact that a Ukrainian official has come forward claiming that it was well understood by the Ukrainians that President Trump would only speak to the new president of Ukraine if Joe Biden’s corruption would be part of the conversation.  The following comes from ABC News

“It was clear that [President Donald] Trump will only have communications if they will discuss the Biden case,” said Serhiy Leshchenko, an anti-corruption advocate and former member of Ukraine’s Parliament, who now acts as an adviser to Zelenskiy. “This issue was raised many times. I know that Ukrainian officials understood.”

The Trump administration’s alleged insistence that the two leaders discuss a prospective investigation into Biden, one of the president’s political opponents, casts his July 25 conversation with Zelenskiy in a new light.

In the end, even if President Trump tried to pressure the Ukrainians to look into Joe Biden’s corruption, that definitely does not rise to the level of an impeachable offense.

But the Democrats are more than willing to twist the Constitution if that is what it takes to get Donald Trump out of the Oval Office.

So now we have high drama in Washington, and it threatens to tear this country apart.

Nancy Pelosi essentially committed herself to going down the road of impeachment when she made her announcement earlier this week, and it is just a matter of time before we see a vote in the House.

And Pelosi will make sure that the vote is successful, and so that means that Trump’s fate will end up in the U.S. Senate.

In order to remove Trump from office, it will take 67 votes in the Senate, and the Democrats only have 47 seats.

So they would need 20 Republican votes, and at this point we don’t know if there are that many Republicans that are willing to stab him in the back.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time. Of course the most important thing that we can share with people is the gospel of Jesus Christ, and if you would like to learn more about how you can become a Christian I would encourage you to read this article.

If Donald Trump Is Impeached, You Should Expect The Mother Of All Stock Market Crashes To Happen

News that an impeachment inquiry is being initiated instantly sent stock prices tumbling on Tuesday, but that small jolt is nothing compared to what we will experience if Donald Trump is actually impeached.  Over the past couple of years we have seen a tremendous boom in stock prices, and one of the big reasons for that boom is the fact that the folks on Wall Street know that Trump is always going to be looking out for their best interests.  Trump understands that his chances of winning again in 2020 will be greatly enhanced if stock prices are rising and most Americans believe that we have a “booming economy”, and so he wants to do everything in his power to try to make those things happen.  That means that Trump’s short-term interests are perfectly aligned with Wall Street’s short-term interests, but things will shift dramatically if someone like Elizabeth Warren or Bernie Sanders ends up in the White House.  Wall Street knows that they have a friend in Donald Trump, and losing that friend would potentially be absolutely devastating.

Needless to say, a lot of investors were unnerved on Tuesday when House Speaker Nancy Pelosi announced that a formal impeachment inquiry is being initiated.  The following is an excerpt from Pelosi’s official remarks…

For the past several months, we have been investigating in our Committees and litigating in the courts, so the House can gather ‘all the relevant facts and consider whether to exercise its full Article I powers, including a constitutional power of the utmost gravity — approval of articles of impeachment.’

And this week, the President has admitted to asking the President of Ukraine to take actions which would benefit him politically. The action of – the actions of the Trump Presidency revealed the dishonorable fact of the President’s betrayal of his oath of office, betrayal of our national security, and betrayal of the integrity of our elections.

Therefore, today, I am announcing the House of Representatives is moving forward with an official impeachment inquiry. I am directing our six Committees to proceed with their investigations under that umbrella of impeachment inquiry.

The President must be held accountable. No one is above the law.

In the aftermath of that announcement, liberal celebrities all across America erupted in celebration.

But can Nancy Pelosi unilaterally declare the commencement of a formal impeachment inquiry without any sort of a vote?  According to Representative Doug Collins, she actually does not have that power…

In reaction to the Speaker’s announcement, Rep. Doug Collins (R-Ga.) tweeted, “Speaker Pelosi’s decree changes absolutely nothing. As I have been telling Chairman Nadler for weeks, merely claiming the House is conducting an impeachment inquiry doesn’t make it so. Until the full House votes to authorize an inquiry, nobody is conducting a formal inquiry.”

In any event, the Democrats are going to push ahead with their investigations, and they seem determined to dig up anything that they possibly can.

In response to Pelosi’s announcement, the White House issued a statement which accused congressional Democrats of being “in dereliction of their Constitutional duty”

‘In a far departure from all of the work and results of this President, House Democrats have destroyed any chances of legislative progress for the people of this country by continuing to focus all their energy on partisan political attacks. Their attacks on the President and his agenda are not only partisan and pathetic, they are in dereliction of their Constitutional duty,’ said White House press secretary Stephanie Grisham in a statement.

We shall see how everything plays out over the next few months, but at this point it seems fairly certain that we will see an impeachment vote on the floor of the House, and it also seems fairly certain that the vote will be split largely along party lines.

Because in this day and age the truth really doesn’t matter.  Even if there isn’t any evidence against Trump at all, most Democrats will vote to impeach because that is what they are expected to do.  And even if Trump is 100 percent guilty most Republicans will vote against impeachment because they would be afraid of being voted out of office by angry voters back home.

So in the end it will probably come down to what the Senate decides to do, and right now the Republicans are holding 53 seats.

Unfortunately for Trump, some of those 53 seats are held by very “moderate” Republicans that are not fans of Trump at all.

Sadly, the fate of the Trump presidency is likely to end up in the hands of a small group of deeply corrupt politicians that I wouldn’t trust to properly mop the floors in my local Dairy Queen.

With that in mind, I think that Trump fans definitely have reason for some pessimism.

Democrats are licking their chops at the prospect of impeaching Trump and then getting either Joe Biden or Elizabeth Warren into the White House following the next election.

Joe Biden would try to get along with Wall Street, but a Warren administration would be an absolute disaster for investors and right now she is surging in the polls.

Elizabeth Warren originally made a name for herself by attacking Wall Street.  Virtually all of her economic proposals would be bad news for the top 1 percent, and the fact that she is doing so well right now is just one of the factors that are currently unsettling the markets

For one, this time around it appears Democrats in the House have momentum toward beginning impeachment proceedings. Second, a formerly robust economic backdrop has given way to jitters about global growth and fears that the U.S. economy is nearing the end of a lengthy expansion. Less confident investors could be more jittery in the face of political headlines than was previously the case.

Also, impeachment proceedings could take center stage in the run-up to the 2020 presidential election, potentially damaging Trump’s re-election bid. Fears of a less business-friendly Democratic administration — amplified by the recent strength of Sen. Elizabeth Warren, who has moved ahead of Biden in some polls — could also be part of the mix, analysts said.

Of course the short-term health of Wall Street is not what we should really be concerned about.

At this moment, the entire global economy is plunging into a substantial downturn, and whoever wins in 2020 is going to have to face that reality.

And beyond that, we are facing long-term crisis after long-term crisis that none of our politicians really want to deal with, and in the end we are going to pay a great price for our short-term thinking.

But for the foreseeable future, the mainstream media is going to be obsessed with the political drama being played out in Washington.

And I know that most Republicans don’t want to hear this, but there is a very real chance that Donald Trump could be impeached by the House.

Then it will all come down to the Senate, and Trump’s fate will be in the hands of moderate Republicans such as Susan Collins, Lisa Murkowski, Marco Rubio and Mitt Romney.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time. Of course the most important thing that we can share with people is the gospel of Jesus Christ, and if you would like to learn more about how you can become a Christian I would encourage you to read this article.

The Latest Numbers Tell Us That The Global Economic Slowdown Is Accelerating Dramatically

Economists are already predicting “the world’s lowest growth in a decade”, but it is beginning to look like what we will be facing will be much worse than that.  In recent days, numbers have been coming in from all over the planet that are absolutely abysmal.  The “global economic slowdown” is rapidly transitioning into a new global economic crisis, and central banks seem powerless to stop what is happening.  They have already pushed interest rates to the floor (actually below the floor in many cases), and over the past decade they have absolutely flooded the global economy with new money.  But despite all of this unprecedented intervention, economic conditions are deteriorating at a pace that is breathtaking.

Let’s start by taking a look at what is happening in India.  According to CNN, vehicle sales in India fell a whopping 31 percent in July…

Just two years ago, India’s huge car market was booming and global players were rushing to invest. Now it’s been slammed into reverse.

Sales of passenger vehicles plunged 31% in July, according to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. It’s the ninth straight month of declines and the sharpest one-month drop in more than 18 years, SIAM Director General Vishnu Mathur told CNN Business.

Those are numbers you would expect to see if we were in the middle of a full-blown economic depression, and it is being projected that this downturn “could result in a million people being laid off”

The slump has prompted companies to slash over 330,000 jobs through the closing of car dealerships and cutbacks at component manufacturers, Mathur said, citing data from industry associations that govern those two sectors.

The Automotive Component Manufacturers Association of India warned in a statement last month that its “crisis-like situation” could result in a million people being laid off.

A million jobs is very serious.

And we are talking about just one industry in one country.

How many jobs will ultimately be lost all over the world in the months ahead?

Over in China, the auto industry is also deeply struggling

China’s Geely (GELYF) revealed this week that its net profit probably plunged by 40% in the first half of the year as the world’s second largest economy slowed. In June alone, its car sales fell 29%.

That isn’t supposed to happen in China.

For decades, China has been one of the primary engines of global economic growth, but now things have changed dramatically.

Perhaps you can blame the trade war for what is happening in China, but the auto industry is also in big trouble in Europe.  In fact, some of the biggest automakers in the world are closing European factories and ruthlessly slashing jobs

Ford is cutting 12,000 jobs and closing six plants in Europe, including an engine factory in the United Kingdom. Jaguar Land Rover, which is owned by India’s Tata Motors (TTM), is slashing 4,500 jobs. Honda is also closing a plant in the United Kingdom.

If those companies expected the European economy to bounce back in the foreseeable future, they would not be making such moves.

But just like you and I, they can see what is happening to Europe’s economy, and on Monday we just received some more deeply troubling news.  The following comes from Zero Hedge

Weakness in euro-area manufacturing hit a climax this morning as German private sector activity plunged to a seven-year low. The Germany Manufacturing PMI slumped in September, dropping to 41.4, down from 44.7 in August, printing below the lowest sellside estimate (consensus of 44.4); worse, the German manufacturing recession is now spreading to the services sector, where the formerly resilient services PMI also slumped from 54.8 to 52.5, also missing the lowest analyst estimate, and collectively, resulting in the first composite PMI print below 50, or 49.1 to be precise, since April 2013. The rate of decline was one of the sharpest in seven years.

It appears that the German economy has already entered recession territory, and these new numbers are not causing anyone to be optimistic.

In fact, “abysmal” is hardly strong enough to describe these absolutely horrible figures

  • Flash Germany PMI Composite Output Index (1) at 49.1 (Aug: 51.7). 83-month low.
  • Flash Germany Services PMI Activity Index(2) at 52.5 (Aug: 54.8). 9-month low.
  • Flash Germany Manufacturing PMI(3) at 41.4 (Aug: 43.5). 123-month low.
  • Flash Germany Manufacturing Output Index(4) at 42.7 (Aug: 45.8). 86-month low.

Of course the U.S. economy has been slowing down for quite some time now, and if you doubt this, I encourage you to read this list of 28 alarming facts about our economy that I posted earlier this month.

We haven’t seen economic conditions like this in the United States since the depths of the Great Recession, and many believe that what is coming will be far worse than the last time around.

And we may be deep into the coming crisis far sooner than many were expecting.  In fact, David Rosenberg of Gluskin Sheff is adamant that there is “a recession coming in the next 12 months”

David Rosenberg, the Gluskin Sheff chief economist and strategist, is warning that a recession is coming. Rosenberg says economic growth in the United States will turn negative sooner than most investors anticipate and the Federal Reserve is powerless.

Even if the central bank lowers interest rates to zero, a recession will still grip the U.S. within 12 months, Rosenberg predicts. “There’s a recession coming in the next 12 months,” he stated with fact last Thursday on CNBC’s “Futures Now. The Fed just lowered its benchmark interest rate last Wednesday by a quarter-point and Fed Chairman Jerome Powell signaled rates would only be cut again if there’s new evidence the economy is softening.

If things really start to deteriorate in the months ahead, we could be in the midst of a horrible economic downturn by the time the U.S. presidential election rolls around.

Let us hope that is not the case, but right now things certainly do not look good for the U.S. economy or for the global economy as a whole.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time. Of course the most important thing that we can share with people is the gospel of Jesus Christ, and if you would like to learn more about how you can become a Christian I would encourage you to read this article.

The Mainstream Media Says The Middle Class Isn’t Shrinking – But That Is Only Because Their Definition Includes Lots Of Poor People

If you ask the mainstream media, they will tell you that about half the country is still middle class.  In fact, a CNBC article that just came out says that “52% of American adults live in ‘middle class’ households”.  Of course that is down from 61 percent in 1971, but considering everything we have been through in recent years, that still looks pretty good.  But is it the truth?  In the end, it all comes down to how you define “the middle class”.  If I defined the middle class as anyone that makes from zero dollars to a trillion dollars a year, then 100 percent of Americans would be considered “middle class” by that definition.  So we can’t just look at the final number they give us.  Instead, we have to dig deeper and find out how they came up with the number in the first place.

The larger the household, the more income it takes to sustain a middle class lifestyle.  And according to CNBC, the definition of a “middle class household” is extremely broad at every household size…

  • Household of one: $26,093 to $78,281
  • Household of two: $36,902 to $110,706
  • Household of three: $45,195 to $135,586
  • Household of four: $52,187 to $156,561
  • Household of five: $58,347 to $175,041

If you are single person and you are making just $26,000 a year, there is no way that you should be considered part of “the middle class”.

First of all, there is no way that you would be able to buy a home in most major U.S. cities these days, and home ownership has always been considered to be one of the key hallmarks of the middle class.

Secondly, $26,000 a year breaks down to just a little over $2,000 a month before taxes.  After paying for rent, health insurance and a little bit of food, there wouldn’t be any money left.

You can define that as a “middle class lifestyle” if you want, but I sure don’t.

Over the past decade, the cost of living has increased at a far faster pace than our paychecks have.  As a result, many Americans that used to live middle class lifestyles are no longer able to do so.

Health insurance is just one example.  Thanks to Obamacare, health insurance premiums have absolutely skyrocketed, and this is financially crippling families all over the nation.  In addition to health insurance, here are just a few of the other expenses that average American families must pay on a regular basis…

-rent or mortgage payment

-the power bill

-the water bill

-food

-phone

-Internet

-vehicle payment(s)

-gasoline

-vehicle repairs

-car insurance

-dental bills

-home or rental insurance

-life insurance

-student loan debt payments

-credit card payments

-furniture, clothing and other necessities

If you are making just two or three thousand dollars a month before taxes, there is no way that you can cover all of that.

So I am sorry, but the way that CNBC is defining “the middle class” is just wrong.

Considering everything that I have just discussed, it should not be surprising to learn that a survey conducted earlier this year found that 78 percent of Americans are living paycheck to paycheck at least part of the time.

And if you are living paycheck to paycheck, there is a really good chance that you are not middle class.

Of course another major factor is geography.  If you live in a very expensive coastal city like New York or San Francisco, it has been estimated that it now takes approximately $350,000 a year to be part of the middle class…

Here’s a sad reality: In order to raise a family in an expensive coastal city like San Francisco or New York, you’ve now got to make $350,000 or more a year.

You can certainly live on less, but it won’t be easy if your goal is to raise a family, save for your children’s education, save for your own home and save for retirement (so you can actually retire by a reasonable age).

When I was growing up, I thought that if someone was making $50,000 a year that person really had it made.

But these days $50,000 a year will barely get you above poverty level depending on the size of your household and where you live.

In a desperate attempt to maintain a middle class lifestyle when their incomes don’t really allow for it, many Americans are going into shocking amounts of debt.  And these days even our young adults are piling on debt as if tomorrow will never come

Millennials carry an average of $27,900 in debt, not including mortgages, according to new data released today by Northwestern Mutual. Gen Z, the oldest of whom are now 22 years old, have an average debt of $14,700.

Having sizable debt at a young age “is the new normal,” said Chantel Bonneau, wealth management advisor at Northwestern Mutual. “There are lots of people who exit school, and before they start their first job, have debt. That is a different situation from 30 years ago.”

But when you pile on too much debt, it can become financially suffocating very quickly, and many of our young people actually report becoming “physically ill” from worrying about it so much…

About 45% of millennials and 43% of Gen Z reported feeling guilty about their debt at least every month — more than other age groups. But debt is a major stressor across age groups. One-fifth of all respondents said their debt made them physically ill at least monthly, 45% said it made them anxious at least monthly, and 35% said they felt guilty once a month or more.

Overall, U.S. households are now over 13 trillion dollars in debt, and one of the primary reasons why we have accumulated so much debt is because most of us want to live lifestyles that we haven’t really earned.

We are also facing record levels of corporate debt, local government debt, state government debt and federal government debt.  And when this debt bubble bursts, it will completely destroy our system.

We have entirely mortgaged our future for short-term gain, and we are so proud whenever the short-term economic numbers tick up a little bit.

But in the process we have completely destroyed the future for every generation of Americans that was supposed to come after us, and that is not something to smile about at all.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time. Of course the most important thing that we can share with people is the gospel of Jesus Christ, and if you would like to learn more about how you can become a Christian I would encourage you to read this article.

Goldman Sachs Has Just Issued An Ominous Warning About Stock Market Chaos In October

Are we about to see U.S. financial markets go crazy?  That is what Goldman Sachs seems to think, and it certainly wouldn’t be the first time that great financial chaos has been unleashed during the month of October.  When the stock market crashed in October 1929, it started the worst economic depression that we have ever witnessed.  In October 1987, the largest single day percentage decline in U.S. stock market history rocked the entire planet.  And the nightmarish events of October 2008 set the stage for a “Great Recession” that we still haven’t fully recovered from.  So could it be possible that something similar may happen in October 2019?  According to CNBC, Goldman Sachs is warning that the stock market could soon “go crazy again”…

For investors taking a breather from the chaos in August, buckle up as the market is about to go crazy again, Goldman Sachs warned.

Wall Street is now inches away from reclaiming its record highs, but a rockier ride could be around the corner as stock volatility has been 25% higher in October on average since 1928, according to Goldman. Big price swings have been seen in each major stock benchmark and sector in October over the past 30 years, with technology and health care being the most volatile groups, Goldman said.

Goldman derivatives strategist John Marshall is the man behind this new warning, and he believes that there are some fundamental reasons why the month of October is often so volatile…

“We believe high October volatility is more than just a coincidence,” John Marshall, equity derivatives strategist at Goldman, said in a note Friday. “We believe it is a critical period for many investors and companies that manage performance to calendar year-end.”

And even though October hasn’t arrived yet, we are already starting to see some things that we haven’t witnessed since the last financial crisis.

For example, the Federal Reserve had not intervened in the repo market since 2008, but this week the liquidity crunch was so bad that the Fed felt forced to conduct emergency overnight repurchase agreement operations on Tuesday, Wednesday, Thursday and Friday.

And then on Friday the Fed announced that it will continue to conduct emergency interventions “on a daily basis for the next three weeks”

The New York Federal Reserve Bank said Friday it will inject billions into the US financial plumbing on a daily basis for the next three weeks in an effort to prevent a spike in short-term interest rates.

The Fed will offer up to $75 billion a day in repurchase agreements — exchanging secure assets for cash for very short periods — through October 10, it said in a statement.

In addition, it will offer three 14-day “repo” operations of at least $30 billion each.

In essence, the “plumbing” of our financial system has gotten all jammed up, and calling out Roto-Rooter is simply not going to get the job done.

Of course Fed officials are trying to assure us that this is no big deal and that they have everything under control.

But if all this is no big deal, why haven’t they had to conduct such emergency interventions for the last 11 years?

And this comes at a time when the deterioration of the U.S. economy appears to be accelerating.  In fact, on Friday St. Louis Fed President James Bullard publicly admitted that the U.S. manufacturing industry appears to already be in a recession

The US manufacturing sector “already appears in recession” and overall economic growth is expected to slow “in the near horizon,” St. Louis Federal Reserve Bank president James Bullard said on Friday, explaining why he dissented at a recent Fed meeting and wanted a deeper, half-percentage-point rate cut.

That is a stunning admission, because normally Fed officials try very hard to maintain the narrative that everything is wonderful because they are doing such a great job of manipulating the economy.

The American people as a whole are becoming increasingly pessimistic about the economy as well, and Gallup just released some very alarming numbers

Americans’ confidence in the economy has become less rosy this month as Gallup’s Economic Confidence Index fell to +17 from August’s +24 reading, marking the lowest level since the government shutdown ended in January.

At the same time, the public is evenly divided over the likelihood of a recession in the next year. The current expectation of a recession is nine points higher than it was in October 2007, just two months before the Great Recession began but slightly below a February 2001 reading, one month before that eight-month-long recession.

Every economic indicator that we have is telling us that big trouble is heading our way, but most Americans are partying instead of preparing.

U.S. financial markets have never been more primed for a crash than they are at this moment, and so many of the exact same patterns that we witnessed just prior to the last recession are happening again right now.

Over the past few months, my wife and I have felt a sense of urgency unlike anything that we have ever felt before.  You may have noticed a difference in our tone and in the types of stories that we have been sharing.  Everything that we have been doing has been leading up to this.  The time of “the perfect storm” is here, and most Americans won’t understand what is happening.

The storm clouds are looming and disaster could strike at any time.  This is one of the most critical times in the history of our nation, and most Americans are completely unprepared for what is going to happen next.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.

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