A September Stock Market Crash?

Many of us have been waiting to see what surprises the month of September would bring, and it appears that a stock market crash may be one of them.  Even the most ardent market optimists were admitting that the absurd bubble that had developed over the course of the summer was completely unsustainable, and the only real debate was over when it would finally burst.  So is this it?  Stock prices have certainly plunged quite dramatically over the last several trading sessions, but it is always possible that things could stabilize for a little while.  But whether it happens in September, October, November, December or next year, the truth is that everyone knows that a crash is coming.

On Tuesday, the Dow Jones Industrial Average fell another 632 points, but that wasn’t the real story.  Far more noteworthy was the fact that the Nasdaq was down another 4.1 percent, and that means that it has now dropped a total of more than 10 percent since it hit a brand new record high last week.

Only two times since 2001 has the Nasdaq fallen more rapidly over three trading sessions.  The index is now officially in correction territory, and the losses have been staggering.  In particular, the six largest tech stocks have collectively lost more than a trillion dollars in value during this three day stretch…

The six biggest tech stocks have lost more than $1 trillion over the last three days alone, but it’s really just a dent coming off a huge rally that peaked last week.

Apple, which hit a $2 trillion market cap on Aug. 19, is down about $325 billion in that time period. Microsoft’s down $219 billion, Amazon fell $191 billion, Alphabet cratered by $135 billion, and Tesla, which fell 21% on Tuesday to mark its worst single-day loss in its history, is down $109 billion in the last three days. Finally, Facebook is off by $89 billion.

A trillion dollars is a serious amount of money.

If you had started spending a million dollars every single day when Jesus was born, you still wouldn’t have spent a trillion dollars by now.  So we are talking about a giant pile of money that is almost unimaginable.

Apple has the largest market cap of any of the tech giants, and over the past three trading days it is down a total of more than 14 percent.  That is the worst three day stretch for Apple since October 2008.

But if you want to see a real disaster, just look at what has been happening to Tesla’s stock price.  Do you remember a few days ago when I said that it would still be overvalued if it went down 90 percent?  Well, after Tuesday we only have 69 percent more to go before that actually happens

Tesla shares closed down 21.06%, making it the worst one-day loss on record. Tuesday’s drop brought the company’s market valuation to $307.7 billion. The stock has been on a tear this year, having risen around 300%, and the company is now worth more than some of the world’s largest automakers, including Toyota and Volkswagen.

It was widely assumed that Tesla would be added to the S&P 500 on Friday, and when that didn’t happen it was “a big disappointment for investors”

But while S&P Indexes announced late Friday that it was adding Etsy, an online marketplace for crafters; Teradyne (TER), a company specializing in industrial automation and robotics; and Catalent (CTLT), which develops pharmaceuticals, to the index, the absence of Tesla was a big disappointment for investors, prompting the sell-off.

But the bigger disappointment for Tesla investors will come when the general public finally realizes that a company that sold less than 100,000 vehicles and actually lost 862 million dollars last year is simply not worth 307 billion dollars.

I understand that people like to make money flipping Tesla stock, but to me the entire company is a giant mirage that will eventually collapse in spectacular fashion.

As for the market as a whole, I am not too excited about this current downturn just yet.  When CNBC asked Kristina Hooper about what we are seeing, she simply labeled it “a healthy period of consolidation after a dramatic run-up”

“Some are suggesting this is the start of another dramatic sell-off, similar to the spring of 2000 when the ‘tech bubble’ burst. I highly doubt that,” Kristina Hooper, Invesco Chief Global Market Strategist, said in an email to CNBC. “I think of this rout not so much as a correction, but as a digestion given that the NASDAQ Composite rose more than 60% from its March bottom in the course of less than six months. All In all, I think this is a healthy period of consolidation after a dramatic run-up.”

Yes, it is still entirely possible that this could turn into the big crash that everyone has been waiting for.

But I think that I will wait until the Dow falls below 25,000 before I start hyperventilating.

Of course I am among those that are entirely convinced that a stock market crash is definitely coming at some point.  At this moment in history, stock prices are absurdly overvalued.  Back in 1990, the total value of all U.S. stocks was sitting at a level that was approximately 60 percent of U.S. GDP, and these days that number has been hovering around 200 percent

In his 2007 memoir, former Federal Reserve chair Alan Greenspan wrote, referring to late 1996, that “America was turning into a shareholders’ nation”. He noted that the total value of US stock holdings had risen from 60 per cent of gross domestic product in 1990 to 120 per cent of GDP by 1996 — “a ratio topped only by Japan at the height of its 1980s bubble”.

In Japan, that ratio had jumped to 140 per cent by the end of 1989, according to the World Bank. The ratio of market capitalisation-to-GDP in the US in 2000, to the amazement of Mr Greenspan, would go on to reach that same level. Today, the market capitalisation-to-GDP ratio in the US is just shy of 200 per cent. The S&P 500 companies alone are worth about $30tn, or 150 per cent of GDP.

So that would seem to imply that stock prices could ultimately fall by more than two-thirds, although I believe in the long-term they will go a whole lot lower than that.

In the short-term, we will see what happens.  10 of the 20 worst single day percentage declines in stock market history have happened during the months of September and October, and it wouldn’t surprise me at all to see some huge waves of volatility during the weeks ahead.

But it is probably going to take some sort of a “trigger event” for the really big crash to happen.

That “trigger event” could happen tomorrow, or it may not happen for quite some time.  But without a doubt the market is perfectly primed for a major disaster, and it certainly won’t take too much to push it over the edge.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Charities “Have Lost Billions” And 1 Out Of Every 5 Churches In America “May Not Survive”

Whenever a major economic downturn happens, churches and charities always get hit really hard.  Cutting back on giving is often the very first step that people take when it comes time to reduce expenditures, and that is extremely unfortunate.  But of course you can’t get blood out of a rock, and there are tens of millions of Americans that have lost jobs in 2020 and so they don’t have any extra money to give at this point.  Approximately 59 million Americans have filed new claims for unemployment over the past 24 weeks, and we are seeing absolutely massive lines at food banks all around the nation.  In such an environment, it was inevitable that there would be a collapse in charitable giving, and it is being reported that major U.S. charities have already “lost billions in revenue”

Charity organizations have lost billions in revenue during the pandemic, making the sector one of many to seek support from Congress at a time when negotiations over another COVID-19 relief package show little sign of a breakthrough.

Traditional methods of fundraising for charities — concerts, festivals and galas — have all been canceled or significantly scaled back due to public health concerns.

What is ironic is that many of these charities actually serve the poor and unemployed, and so their services are in greater need than ever before at a time when their funding is rapidly drying up.

An organization that represents about 500 of these charities says that 83 percent of their members have reported that revenues are down in 2020…

Overall, 83 percent of charity organizations reported a decline in revenues during the pandemic, including a decline in earned revenue from events or other activities, and a reduction in individual giving and grants received, according to a recent survey by Independent Sector, which lobbies in Washington for about 500 nonprofits, foundations and corporate giving programs.

Of even greater concern is what is happening to churches all over America.  During the lockdowns, many churches experienced a precipitous drop in giving, and of course there are still some states that are putting very strict restrictions on church gatherings.  This has had an absolutely devastating impact on many church budgets, and there have been widespread cutbacks.

And even though most churches in the country are now meeting normally, giving is still way down in many areas because of the impact that the economic downturn is having.

We have never seen anything like this before, and things have already gotten so bad that Barna Group president David Kinnaman is projecting that 1 out of every 5 churches in America “could be forced to shut their doors in the next 18 months”

The president of the Barna Group says it’s possible as many as 1 in 5 churches may not survive the shutdowns and changes brought on by the COVID virus and could be forced to shut their doors in the next 18 months.

In an interview on NPR’s program “Here And Now” earlier this week, Barna Group president David Kinnaman said their surveys show confidence among pastors that their churches will make it through the pandemic has declined from more than 70 percent in May to around 58 percent now.

Think about that for a moment.

20 percent of all U.S. churches gone – just like that.

Over the years, we have started to see Christians in the United States increasingly adopt an underground house church model, and I think that this crisis will accelerate that process.

During the boom years, many large churches went deep into debt to fund elaborate building programs that included bowling alleys, coffee bars and all sorts of other amenities that they didn’t necessarily need, and now that very hard times have arrived many of those churches will go belly up.

Sadly, this is just the beginning.  According to John Williams of shadowstats.com, if honest numbers were being used the unemployment rate in this country would currently be sitting at 28 percent.  And as I keep detailing week after week, more layoffs are constantly being announced.

There are certain industries that are simply being eviscerated right now.  For instance, check out what is happening to the U.S. oil industry

Texas, the largest oil-producing state in the U.S., had 440 land rigs at the end of August last year, according to Baker Hughes’ weekly count. That number had shrunk to 104 this year.

The story was the same in North Dakota, the second-largest oil-producing state: The rig count was down from 51 to 10, according to Baker Hughes.

Those numbers are so horrifying that they are hard to believe.

I know people that work in the oil industry, and those jobs can be extremely well paying.  But now much of the industry has completely shut down, and countless numbers of workers have been forced to file for unemployment.

In Wyoming, the oil industry has been at the core of the state’s economy since the 1800s, but in July the official rig count in the state actually fell to zero

And, in Wyoming, where the oil and gas industry is the state’s economic backbone, the rig count dropped to zero for one week in July for the first time since 1884, Pete Obermueller, executive director of the Petroleum Association of Wyoming Executive Director, told USA TODAY.

We are in the midst of a major economic nightmare, and conditions are eventually going to get far, far worse than they are right now.

So that means that charitable giving will also be going down even more.

Because of what I do, I hear from a lot of ministries and Christian organizations.  So many of them are experiencing severe financial distress already, and we are still only in the very early chapters of this crisis.

If there are ministries and organizations that are doing great work that you regularly support, please try to keep supporting them for as long as you can.

In this hour, people are going to need hope, and they definitely are not going to get that from the government.

Unfortunately, so many bright lights that are giving hope to people are starting to go out, and that trend is only going to intensify as our economic problems become even more serious.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Over Half Of All Young Adults Are Living With Their Parents – Highest Level In Modern American History

As the chaotic events of 2020 have unfolded, large numbers of young people have moved back in with their parents, and this has pushed the percentage of Americans in the 18 to 29-year-old age bracket that live with their parents to the highest level ever recorded.  Without a doubt, the collapse of the economy has hit young adults particularly hard.  About 59 million Americans have filed for unemployment over the past 24 weeks, and low wage workers have been disproportionally affected by this tsunami of job losses.  Needless to say, young adults traditionally make up a large chunk of our low wage workers, and now that really tough times have hit a lot of them are being forced to fall back on their mothers and their fathers for support.  According to a brand new report that was just put out by the Pew Research Center, 52 percent of all young adults in this country are now living with their parents

A new report by the Pew Research Center found that a majority of young adults — 52% — lived with one or both of their parents in July. Pew’s analysis of monthly Census Bureau data notes that this is higher than any previous measurement.

For purposes of this report, Pew defined a “young adult” as anyone that is in the 18 to 29-year-old age bracket.

At this point, 26.6 million young people are living with their parents.  We have never seen a number this high, although Pew suspects that the level may have been higher during the Great Depression of the 1930s

“Before 2020, the highest measured value was in the 1940 census at the end of the Great Depression, when 48% of young adults lived with their parents,” says the report, published Friday. “The peak may have been higher during the worst of the Great Depression in the 1930s, but there is no data for that period.”

In any event, what we are witnessing right now is extremely alarming.

Many tend to think of young people that live with their parents as lazy or unproductive, but that is not necessarily the case.  Many of them were working extremely hard to make it on their own, and as Jeremy Sopko has pointed out, “nobody wants to be living at home with mom and dad”…

‘For the most part, nobody wants to be living at home with mom and dad,’ Jeremy Sopko, CEO of Nations Lending Corporation, a mortgage lender told the Huffington Post.

 ‘It’s a difficult situation that’s been exacerbated by the pandemic and it may take years, if not the better part of a decade, for younger demographics to recover and be financially stable enough to leave home.’

And many parents may not be too thrilled to have their adult children living at home either.

But at this point we need to realize that times have fundamentally changed.

As economic conditions become even rougher, we are going to increasingly see situations where multiple generations are living under one roof, and there is nothing wrong with that.  Having each generation live separately in different homes is a relatively modern phenomenon, and it has been made possible by our incredible affluence.  But as the economy continues to collapse, survival is going to take precedence over convenience.

All over the nation, family is going to have to take care of family.  None of us can possibly take care of everyone out there that is hurting, but if we all take care of our family members that will make a tremendous difference.

If you have a home, you are going to need to be prepared to take in members of your family and extended family that fall on rough times.

If you don’t have a home, you will need to be humble enough to ask other members of your family or extended family for help if you need it.

I know that a lot of people may not like what I am suggesting, but we have to realize that the old rules don’t apply anymore.

We are in the middle of the worst economic collapse in modern times, and things are going to get much, much worse.

Already, some of the economic numbers that we are seeing are hard to believe because they are so bad.

For example, it is now being projected that 63 percent of all restaurants in New York are “likely to close by the end of the year”

On Thursday, the New York State Restaurant Association published the results of a survey that found the state’s restaurants are in need of financial support from the government after months of closures during the coronavirus pandemic.

According to the survey, 63.6% of restaurants in New York said they are “likely to close by the end of the year” without a relief package and only 36.4 percent said they are “likely or somewhat likely to remain open.”

63 percent.

How bad do things have to get before the economic optimists will admit that we have a complete and utter economic disaster on our hands?

And the civil unrest that is plaguing major cities all over the country just continues to roll on.

On Sunday, President Trump tweeted out a video of a rioter in Portland that accidentally set himself on fire with a Molotov cocktail

President Donald Trump ridiculed ongoing protests in Portland by tweeting a video of an activist accidentally setting himself on fire with a Molotov cocktail.

‘These are the Democrats “peaceful protests”. Sick!’ Trump panned on Sunday as he retweeted a clip of the activist and fellow protesters desperately trying to extinguish the blaze engulfing his pants.

This is the kind of civil unrest that I have been warning about for years, and now it is here.

There have been violent protests in Portland for 100 nights in a row, and that streak isn’t going to end any time soon.

And now the presidential election is less than two months away, and many fear that this will take things to an entirely new level.  If you would like to read my analysis of what is potentially ahead, please see my recent article entitled “Why We Are Facing The Biggest Election Nightmare In Modern American History No Matter Who Ends Up Winning”.

Things are going to get really nuts in the months ahead, and there will be no going back to the way that things were before.

When things get really difficult for you personally, you may need to move in with your parents or other members of your extended family.

On other other hand, if you are in good shape financially you may need to be the one that takes in members of your family or extended family.

Making it through what is ahead is not going to be easy, and we are all going to need someone to lean on at some point.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Signs Of Trouble As We Make The Turn Toward The Fall?

Over the past several months we have been witnessing one of the most gloriously irrational stock market rallies in U.S. history.  Even CNN is admitting that this is “the worst economic crisis of our lifetimes”, but stock prices have just kept going higher and higher until this week.  Several months ago the Federal Reserve decided to do whatever it took to rescue the financial markets, and their exceedingly reckless behavior fueled a speculative boom that is unlike anything that we have ever seen before.  But now it appears that the boom may be ending.  The Dow Jones Industrial Average was down 807 points on Thursday, and it appears that Friday could be another very challenging day for Wall Street.  It is well documented that many of the greatest stock market crashes in history have happened in the fall, and many investors may be trying to bail out before this latest bubble bursts in spectacular fashion.

Tech stocks have led the way up during this latest rally, and now they could potentially start leading the market back in the other direction.  On Thursday, the biggest names in the tech world got hit particularly hard

Apple shares fell 8% for their biggest one-day decline since March 16. Amazon and Netflix were both down more than 4% and Facebook slid 3.8%. Microsoft slipped 6.2%. Alphabet pulled back by 5.1%.

And Tesla has been absolutely monkey-hammered over the past several days.  If you can believe it, the stock is now 18 percent lower than it was on Monday

Tesla shares slid 9% on Thursday, building on the stock’s recent losses after the company’s largest outside shareholder reduced its position, and after the automaker said it would raise up to $5 billion in a new share offering.

With Thursday’s decline, the stock is more than 18% below Monday’s close, a day when the name surged following its stock split.

But I wouldn’t be crying too much for those holding Tesla stock just yet.  The stock is still way, way up so far in 2020, and it is still massively overvalued.

In fact, if Tesla’s stock price fell 90 percent I would still think that it was overvalued.

Needless to say, the entire market is tremendously overvalued at this point.  It is absolutely absurd that the Dow is sitting above 28,000 at the moment.  Investors decided to divorce economic reality long ago, and even with the losses that we have seen this week they are still sitting really pretty.

But could that soon change?

According to one expert that was just interviewed by CNBC, the market could be heading into a “Minsky moment”…

Asset prices could be on the cusp of a sharp collapse known as a “Minsky moment,” and may retest lows last seen in March, according to Ron William, market strategist and founder of RW Advisory.

So exactly what is a “Minsky moment”?

The following is how CNBC defines it…

A “Minsky moment,” named after economist Hyman Minsky, refers to a sudden market collapse following an unsustainable bull run, which in this case could be fueled by the “easy credit” environment created as a result of unprecedented fiscal and monetary stimulus measures.

I think that may be a perfect description of what we are facing.  Since the second half of March, the Dow, the S&P 500 and the Nasdaq are all up more than 50 percent even though the U.S. economy as a whole has been falling apart all around us.

If we were ever due for a “Minsky moment”, it is now.

And it is interesting to note that the stock market also peaked in early September in 1929.  The following quote from Sven Henrich was just posted by Zero Hedge

“September 3rd marked the top in 1929 following a furious rally fueled by wild optimism, excessive retail speculative behavior and markets disconnecting far above the fundamentals of the economy.”

It has been said that history doesn’t always repeat, but it often rhymes.

Meanwhile, we just learned that a huge number of Americans filed for unemployment benefits once again last week.

As I discussed a week ago, the Labor Department decided to change the way that it calculates seasonal adjustments for initial unemployment claims, and this week was going to be the first week when that change was going to show up.  So it wasn’t a surprise that the “official number” was lower than last week, but when you look at the unadjusted numbers the story is completely different.

In fact, those figures tell us that the number of Americans filing new claims for unemployment benefits was about 7,000 higher than the week before.

That is very troubling, because if we were going to have any sort of an “economic recovery” before the next wave of economic pain, it should be happening now.

And according to Wolf Richter, the number of continuing unemployment claims under all state and federal programs was way up over the previous week…

Powered by a nasty jump in continued unemployment claims under the federal Pandemic Unemployment Assistance (PUA) program for contract workers, established under the CARES Act, total continued claims under all state and federal programs jumped by 2.2 million, “not seasonally adjusted,” to 29.2 million people on unemployment rolls, the highest since August 1, according to the Department of Labor this morning.

In our entire history, we have never seen a spike in unemployment claims like we have in 2020.

But up until now, investors on Wall Street have been able to ignore what has been going on in the rest of the country.

In some ways it is easy to be in awe of their single-minded focus on speculative greed, and the mainstream media has been proudly touting how much richer some of the wealthiest investors have been getting.

Of course the truth is that you only make money in the stock market if you get out in time.  Nothing goes up forever, and this ridiculously absurd bubble will end the same way that so many others have.

Meanwhile, the real economy will continue to deteriorate as we plunge even deeper into the “perfect storm” that we are now dealing with.

In addition to everything else, a hotly contested presidential election is looming, and the fact that we are not likely to have a winner until some time well after November 3rd is just going to make matters even worse.

We truly live in historic times, and I have a feeling that they are about to get a whole lot more “interesting”.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

It Is Being Projected That More Than 50 Million Americans Will Be Fighting Hunger By The End Of This Year

Has there ever been a time in your life when you haven’t had enough food to make it through the week?  If you have never experienced this, you are extremely fortunate.  Even during the best of times, millions of Americans struggle with hunger, and these definitely are not the best of times.  Because of all the crazy things that have happened so far in 2020, large numbers of people have been forced into dramatic lifestyle changes.  Many Americans have deeply cut their food budgets due to a lack of income, others are now only eating one or two meals a day, and we are seeing more demand at food banks around the country than we ever have before.  It is quite obvious that massive numbers of people are really hurting, and Bloomberg is reporting that it is being projected that the number of Americans that are “fighting hunger” will rise to “more than 50 million” by the end of this calendar year…

The ranks of Americans fighting hunger are projected to swell some 45% this year to more than 50 million.

To me, that is an absolutely staggering figure.

Right now, the U.S. has a total population of about 328 million people, and so that figure that Bloomberg quoted represents a sizable chunk of the country.

And we certainly don’t have to wait until the end of the year for the numbers to get really, really bad.  In fact, it is being reported that one recent survey found that approximately one-tenth of all U.S. households “haven’t had enough food in a given week”

During the pandemic, about a 10th of American households reported they haven’t had enough food in a given week. That’s a shocking figure for the world’s richest country. It’s more than double pre-Covid figures and the highest since comparable government data starts in 1995.

I feel especially bad for the children that are going hungry.

Can you imagine how bad parents must feel when their children tell them that they are hungry and the parents have nothing to provide?

And this is just the beginning.  Food prices are going to continue skyrocketing over the coming year, and that is just going to stretch family budgets even more.

A few days ago, I strongly urged my readers to stockpile food for the chaotic times that are ahead.  Food prices are only going to go higher, and economic conditions are going to continue to deteriorate.

In fact, some more major job cuts were just announced.  For example, Ford just announced that it will be eliminating “1,400 white collar jobs”

Ford is looking to cut 1,400 white collar jobs in a cost-savings move.

The automaker sent out letters to employees Wednesday saying that salaried staff eligible for retirement would be getting early retirement offers next week. Those who take the offer by October 23 would be leaving the company by the end of the year.

And United Airlines just announced that they will be furloughing more than 16,000 workers

With no air travel rebound or new federal help in sight, United Airlines says it will furlough about 20% of its frontline employees in less than a month’s time.

In a new memo to its employees, United (UAL) says that 16,370 employees will be furloughed when payroll restrictions attached to a federal bailout expire October 1.

Because most Americans live paycheck to paycheck, a job loss can plunge a family into dire straits very rapidly.  All over the U.S., we are seeing long lines of people driving very nice vehicles waiting for up to six hours to get food at local food banks.

Over the past 23 weeks, more than 58 million Americans have filed initial claims for unemployment benefits, and many of them have “suddenly” found themselves in need of food.  For a lot of them, it is the first time something like this has ever happened to them.

And so many people that I talk to believe that what we have experienced so far is just the tip of the iceberg and that much worse is coming.  There is such a sense of urgency in the air, and gun sales just keep setting record after record.  In fact, we just learned that gun sales during the month of August were 57 percent higher than last year

The Washington Free Beacon reported Tuesday that the U.S. saw more gun sales in August 2020 than any other August since the FBI has been logging data on the subject. According to the outlet’s analysis of FBI background check data, there were at least 1.6 million firearm purchases during the past month, a 57% increase compared to August of last year.

Other Americans are responding to our current circumstances by wallowing in depression and despair.  According to the Daily Mail, the number of Americans reporting symptoms of depression has “tripled over the last eight months”…

Researchers found that the percentage of US adults reporting mild, moderate or severe symptoms tripled over the last eight months.

And as things get even worse, a ton of people out there simply are not going to be able to handle what is happening.

That is why I really wanted my new book to be a book of hope.  Yes, we are entering a chapter of history that is going to be far more horrible than most people would dare to imagine.  But I believe that there is hope in understanding what is happening, there is hope in getting prepared, and there is hope in trusting that God has everything in His hands.

So many people out there still have so much faith in the system, but when things really get crazy the government is not going to be delivering big baskets of food to your door for you and your family.

Tonight, millions upon millions of American families do not have enough food to eat, and more jobs are being lost with each passing day.

You might think that your job is safe, and hopefully that is true, but millions of others also thought their jobs were secure right before they were let go.

Recently, I have had a lot of people ask me about gold and silver, and I have always thought very highly of precious metals.

But you can’t eat gold or silver.  Before you ever focus on precious metals, make sure that you have enough food stored up for yourself, your family, your friends and your neighbors, because having enough food is going to be absolutely critical during the times that we are moving into.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

“It’s Not Your Imagination. Something Is Very Wrong.”

Once in a while, someone says something that perfectly captures the moment that we are currently facing.  Earlier today, I believe that I stumbled upon an example of this, and I will be sharing what I found in this article.  So far this year, our nation has faced one crisis after another, but even after what we have already been though a lot of people out there are absolutely convinced that much worse is coming.  In fact, in all of my years of writing I have never had as many people reach out to me personally with their concerns about our immediate future as I have here in 2020.  There seems to be an overwhelming consensus that great trouble is rapidly approaching, and there are so many people that are making major life changes based on what they believe is coming.

With that in mind, I would like to share three recent quotes from Glenn Beck

#1 “What I’m here to do is to sound the trumpet. To warn you of what is just over the horizon, that no one else will tell you. […] You know things aren’t OK. They aren’t normal. Many of us have this feeling that we’re headed towards something — something not good.”

#2 “If you felt any of these things, I want you to know this: One, you’re right, it’s not your imagination. Whether you’re on the left or right, it’s not your imagination. Something is very wrong. Two, you’re not alone. You are not the only one feeling this. And, three, this is the difficult beginning of a new era.”

#3 “But, I believe that we are now squarely in the days the Bible foretold. I told you there would come a time when we passed all the exits. And we’re there. We need to fight to slow down the chaos. We need to do everything we can to slow chaos down.”

He hit the nail right on the head, and I don’t think that I could have said it better myself.

So many people out there have such an ominous feeling about the times that we are moving into, and a lot of them wonder if others are feeling the exact same way.  Of course the truth is that countless others are also sensing that something has gone horribly wrong.  Each one of us can look around and see that society is coming apart at the seams, and nobody seems to have a realistic plan for ending the chaos.  Instead, there seems to be a general consensus that we have crossed a threshold into a dangerous new period in our history and that there is no going back to the way that things were before.

If the vast majority of Americans were generally convinced that our current problems were just temporary in nature, we wouldn’t be seeing the mass exodus out of our major cities that we are witnessing right now.  According to a Daily Mail article that I came across this afternoon, large numbers of Americans are “fleeing” to states with low population density such as “Vermont, Idaho and Oregon”…

Americans have been fleeing to states with more open space such as Vermont, Idaho and Oregon as they opted to relocate amid the COVID-19 pandemic, data shows.

Vermont topped the list of states that saw the biggest influx of new moves between March and August, according to the data compiled by moving company United Van Lines and published by Bloomberg.

I can just hear residents of those three states groan as they read this article.

Recently, I had someone from a state in the middle of the country specifically ask me to avoid encouraging people to move to his state.  So many that live in beautiful rural areas are horrified at the prospect of hordes of transplants from New York, California and Illinois moving in and ruining their communities.

And according to that same Daily Mail article, New York is one of the main states that people are fleeing at this point…

Two thirds of all moves booked in New York and New Jersey were for relocations out of those states, according to the data.

The data shows that just under half of those moving from New York went to cities in Florida, Texas, California and North Carolina.

Of course not all moves are out of state.  In many instances, people are just moving out to the suburbs from a core urban area, and all of this movement is really starting to show up in the real estate numbers.  The following comes from CNN

Signed contracts for sales of condos and co-ops in Manhattan, for example, plunged nearly 60% in July, while contracts for single-family homes in areas outside of New York City skyrocketed, according to a recent report from brokerage firm Douglas Elliman and Miller Samuel.

Similar shifts are playing out in suburban areas around other major cities. Norfolk County, outside of Boston, saw a 38% increase in new contracts for single-family homes in July over last year, according to Compass. Collin County, Texas, outside of Dallas, saw a 58% increase. San Bernardino County, outside of Los Angeles, saw a 62% jump and Marin County, outside of San Francisco, saw a 77% increase over last year.

Personally, I can’t blame anyone that wants to flee the major cities.  As our society continues to crumble, living in a core urban area will be a very dangerous thing to do.

For now, most of the protesting is for political purposes, but as time rolls along economic considerations will increasingly come to the fore.

If people are this crazed and this violent now, what are they going to be like when all of their food is gone and they are desperately hungry?

Even now, millions of Americans are becoming increasingly desperate.  58 million Americans have filed new claims for unemployment benefits over the past 23 weeks, about two-thirds of the country is in financial distress, and one recent Gallup survey found that 70 percent of all Americans want another stimulus check…

As Congress and the Trump administration remain deadlocked in talks over the next coronavirus stimulus package, seven in 10 Americans (70%) say they would support the government sending an additional economic impact payment (EIP) to all qualified adults. These stimulus payments, which were first distributed in April as part of the popular CARES Act, are widely supported as the U.S. economy continues to face high unemployment amid the coronavirus pandemic.

Despite deep polarization on a number of policies related to COVID-19, an additional EIP receives strong support among both Democrats and Republicans. Democrats (82%) are most likely to favor the federal government sending another direct payment to all qualified U.S. adults (based on their income level), with about two-thirds of Republicans (64%) and independents (66%) saying the same.

It sure didn’t take very much to turn most of us into socialists, did it?

Of course this is just the start.  As the U.S. is hit by one major crisis after another, the economic desperation all around us is going to get far, far worse.

Glenn Beck said it so perfectly.  If you have a very ominous feeling about what is ahead, it isn’t just your imagination.

Something is definitely very wrong, and our national nightmare is just beginning.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Buy Lots Of Food And Store It Some Place Safe, Because Very Difficult Times Are Approaching

I’m just going to be very blunt with you.  Things have already gotten quite crazy, but they are going to get even crazier.  Global food supplies have already gotten tight, but they are going to get even tighter.  When even the UN starts using the word “biblical” to describe the famine that the world is facing, that is a sign that the hour is very late.  Thankfully, we are not facing famine in the short-term here in the United States, but “temporary shortages” of certain items have already been popping up, and food prices are aggressively shooting higher.  Earlier today my wife stopped by the grocery store to pick up a couple of things, and one particular item that used to cost about 12 dollars was now 20 dollars instead.  But thanks to the Federal Reserve, this is about as low as food prices are going to get.  The Fed seems absolutely determined to crank up inflation, and that is going to have very serious implications during the times that are ahead.  Right now we have a window of opportunity before the next wave of trouble comes along, and I would greatly encourage you to use this window of opportunity to buy lots of food and store it some place safe.

Some people seem to think that if they have stored up a couple months worth of food that they will be just fine.

Unfortunately, that is not the reality of what we are facing.  The truth is that you should have enough food to feed every single person in your household for an extended period of time, and many of you will need much more than that.  Because when things get really crazy, many of the friends, neighbors and extended family members that neglected to prepare will come knocking on your door asking for help.

There are some people that would turn away those friends, neighbors and extended family members, but I couldn’t do that.  Yes, they are at fault for refusing to get prepared, but I just couldn’t turn them out into the street.

If you also plan to assist those around you that are in need, that just makes your job even bigger.  In the end, there is a limit to what any of us can do, and so we will do what we can with what we have and we will leave the rest to God.

The overwhelming demand that we are witnessing at food banks around the nation right now gives us some clues about what we can expect as economic conditions get even worse.  In Alameda County, vehicles are lining up “as early as seven in the morning” just to get a little bit of food from the local food banks…

“They start lining up as early as seven in the morning and this will run for six straight hours” said Altfest.

Hundreds of cars slowly snake their way through the parking lot across from the Acura dealership on Interstate 880. Folks from all walks of life driving everything from Toyota’s, BMW’s, to Mercedes, all coming to get food. Folks are grateful for the charity.

When I read that quote from a local CBS news report, it struck me that it sounded almost exactly like what Heidi Baker said when she saw people waiting in line to get food…

And I saw all these people and they had beautiful cars, 4 by 4’s and Lexus, Mercedez, BMW’s, Toyotas. There they were with fancy shiny cars, but they were standing in line.

On the east coast we are seeing similar things happen.

In fact, there was a quarter-mile line at the break of dawn at a food bank in Queens on Saturday

The line stretched a quarter-mile before the sun was barely up Saturday, snaking around corners like bread lines in the 1930s. But the hungry in Queens are today’s New Yorkers, left jobless by the coronavirus.

Until the pandemic struck the city, La Jornada food pantry used to hand out groceries to roughly 1,000 families a week. Now, the figure tops 10,000. And volunteers serve lunch every day to 1,000 — many of them kids with growling stomachs. Across the five boroughs, the hungry number in the hundreds of thousands, the Food Bank of New York estimates.

I found it quite interesting that the New York Post is comparing what is happening now to the “bread lines in the 1930s”.

This is the reality of what we are facing people.  So many people are already in desperate need, and this “perfect storm” is just getting started.

In the Richmond, Virginia area things are even worse.  According to one recent report, vehicles have been lining up at one food bank “as early as six hours” before it opens…

Every Friday, cars line up as early as six hours before the food bank on Iron Bridge Road opens the drive-thru. At noon, the first 20 cars or so are allowed to park in the parking lot where they wait another three hours. Once 3 p.m. hits, the operation begins with a slew of volunteers working in the warehouse to fill grocery carts with fresh fruits and vegetables, dairy products, meat, prepared foods and nonperishable items.

Can you imagine sitting in your vehicle for six hours waiting for a food bank to open?

This is how desperate some people in America have already become.

And as I noted at the beginning of this article, the United Nations is using the word “biblical” to describe the famine and starvation that are coming all around the world.  The following comes from CNBC

Famines of “biblical proportions” are becoming a serious risk as the coronavirus crisis threatens to double the number of people nearing starvation, a U.N. body has warned.

In projections released Tuesday, the UN’s World Food Programme (WFP) predicted that the number of people facing “acute food insecurity” stood to rise to 265 million by the end of this year, up from 135 million in 2019.

I don’t know about you, but I find that warning to be quite sobering.

In a “worst-case scenario”, the UN projects that “about a tenth of the world’s population won’t have enough to eat this year”

Initial United Nations forecasts show that in a worst-case scenario, about a tenth of the world’s population won’t have enough to eat this year. The impact will go beyond just hunger as millions more are also likely to experience other forms of food insecurity, including not being able to afford healthy diets, which can lead to malnutrition and obesity.

Sadly, even though we have already seen so many crazy things happen in 2020, most Americans are still not prepping.

And so when things really start to unravel in a major way, most of them are going to be short on food and supplies very rapidly.

The other day I was interviewed by Dr. Steve Greene, and we discussed some of the reasons why the troubles that we have experienced so far are just the tip of the iceberg.

So much more is coming, but most people don’t want to hear that.

Most Americans still want to believe that the future is going to be just wonderful, and so they see absolutely no need to prepare for the chaotic times that are approaching.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

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