The UN Is Now Admitting That This Coronavirus Pandemic Could Spark Famines Of “Biblical Proportions”

What the head of the UN’s World Food Program just said should be making front page headlines all over the globe.  Because if what he is claiming is true, we are about to see global food shortages on a scale that is absolutely unprecedented in modern history.  Even before COVID-19 arrived, armies of locusts the size of major cities were voraciously eating crops all across Africa, the Middle East and parts of Asia, and UN officials were loudly warning about what that would mean for global food production.  And now the coronavirus shutdowns that have been implemented all over the planet have brought global trade to a standstill, they are making it more difficult to maintain normal food production operations, and they have forced countless workers to stay home and not earn a living.  All of this adds up to a recipe for a complete and utter nightmare in the months ahead.

David Beasley is the head of the UN’s World Food Program, and on Tuesday he warned that we could actually see famines of “biblical proportions” by the end of this calendar year.  The following comes from ABC News

The coronavirus pandemic could soon double hunger, causing famines of “biblical proportions” around the world by the end of the year, the head of the World Food Programme, David Beasley, told the U.N. Security Council on Tuesday.

Beasley warned that analysis from the World Food Programme, the U.N.’s food-assistance branch, shows that because of the coronavirus, “an additional 130 million people could be pushed to the brink of starvation by the end of 2020. That’s a total of 265 million people.”

He described what we are facing as “a hunger pandemic”, and he insisted that urgent action must be taken in order to avoid a nightmare scenario.

But in some parts of the globe a nightmare scenario is already unfolding.  For example, close to half the population of South Sudan is currently facing starvation, and for many of them the only food that is available is what gets dropped from the sky

The villagers hear the distant roar of jet engines before a cargo plane makes a deafening pass over Mogok, dropping sacks of grain from its hold to the marooned dust bowl below.

There is no other way to get food to this starving hamlet in South Sudan. There are no roads, and the snaking Nile is miles away.

Over in South Africa, the “chronic food shortages” have already become so severe that they are starting to spark rioting, looting and civil unrest…

UNREST broke out in parts of South Africa amid chronic food shortages sparked by the coronavirus pandemic.

Looters raided shops, attacked each other, the army and police after breaching one of the strictest lockdowns in the world.

Police fired rubber bullets and teargas to disperse the mobs but local community leaders fear more outbreaks of violence are imminent.

Here in the western world we don’t have to worry about such things yet, but without a doubt the number of needy people is rapidly rising.

This past Saturday, vehicles literally began lining up at 2 AM in the morning for a food distribution event at the San Antonio Food Bank

The San Antonio Food Bank teamed up with Atascosa County to feed meals and hope to hundreds of people Saturday morning. Vehicles began to line up around 2 AM Saturday outside the county courthouse, winding through neighborhoods at least two miles away.

I have never heard of people lining up so early before.

I have heard of vehicles lining up at the crack of dawn around the country in recent days, but 2 AM is absolutely nuts.

But these people realize that when the food is gone there will be no more handouts that day, and there are many that are absolutely desperate to get something to feed their families.

As this coronavirus pandemic has created an enormous amount of fear all over the country, empty shelves have been reported in frozen food sections all over the nation, and the fact that an increasing number of meat processing plants are being temporarily closed down is certainly not helping things.  According to CBS News, at least 17 meat processing plants in the United States have been shut down so far…

Coronavirus infections in at least 17 meat processing plants across nine states are contributing to a spike in confirmed cases in the Midwest. Although 13 plants are already closed temporarily or operating at reduced capacity, Iowa Governor Kim Reynolds says shutting down plants would hurt farmers and the national food supply.

In a desperate attempt to keep as many facilities in her state open as possible, Iowa Governor Kim Reynolds has enlisted the help of the National Guard

Hundreds of National Guard personnel are being activated in Iowa as coronavirus sweeps through meat-processing plants in a state that accounts for about a third of U.S. pork supply.

Iowa Governor Kim Reynolds said 250 National Guard members have been moved to full-time federal duty status and could help with testing and contact tracing for workers at plants operated by Tyson Foods Inc. and National Beef Packing Co.

The good news is that authorities are telling us that any product shortages should just be temporary and that all of these processing plants will eventually be brought back on line.

But for the planet as a whole, life is not going to be getting back to “normal” any time soon.

In fact, Takeshi Kasai of the World Health Organization is warning that we need to accept “a new way of living” until a vaccine finally arrives

“At least until a vaccine, or a very effective treatment, is found, this process will need to become our new normal,” he said.

“Individuals and society need to be ready for a new way of living.”

But now that scientists have discovered approximately 30 different strains of this virus, that is going to greatly complicate matters.

Coming up with a successful vaccine for any coronavirus would be a historic feat, and now scientists also have to hope that they will pick the particular strain of COVID-19 that will become dominant in the future.

And of course many people around the globe will not want to take any vaccine that is developed under any circumstances.

So those that are thinking that there will be an easy way out of this crisis are likely to be deeply disappointed.

Meanwhile, the global economic downturn is getting deeper with each passing day, and global food supplies are getting tighter and tighter.

A global famine is coming, and the UN is sounding the alarm.

Unfortunately, most people in the western world are still not listening.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. 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 all many people as we possibly can.

Deep Economic Suffering Has Erupted All Over America, But Guess Who The Federal Reserve Is Helping?

As millions upon millions of Americans lose their jobs in the greatest wave of unemployment in U.S. history, the Federal Reserve has decided that now is the time to spend trillions of newly created dollars in a desperate attempt to protect financial asset values.  In other words, as much of the country suddenly plunges into poverty, the Federal Reserve is working exceedingly hard to protect the wealth of the elite.  Approximately fifty percent of all stock market wealth is owned by the wealthiest one percent of all Americans, and the amount of stock market wealth owned by the poorest 50 percent of all Americans is so small that it really doesn’t matter.  And those running the Fed certainly understand that their reckless policies will create very painful inflation that will hit average American families extremely hard, but they don’t seem to care.  At this point, they figure that asset values must be protected at all costs, and that is going to continue to expand the absolutely massive gap between the rich and the poor in this country.

Over the past 3 weeks, more than 16 million Americans have filed new claims for unemployment benefits.

Prior to this year, the highest number that we had ever seen in any 3 week span in all of American history was about 2 million.

It is a collapse of unprecedented magnitude, and things have already gotten so bad that even “the Happiest Place on Earth” is conducting mass layoffs

Walt Disney World Resort will furlough 43,000 union workers while its theme parks remain closed as authorities restrict large gatherings due to the coronavirus pandemic, according to the Service Trades Council Union.

Because most U.S. workers live paycheck to paycheck, many of the newly unemployed have fallen on hard times very rapidly.  Food banks all over the nation are seeing an alarming surge in demand, and in many cities people are literally lining up before the sun rises in order to ensure that they will get some food

In many cities, lines outside food pantries have become glaring symbols of financial precarity, showing how quickly the pandemic has devastated working people’s finances.

In San Antonio, 10,000 families began arriving before dawn on Thursday at a now-shuttered swap meet hall to receive boxes of food. Normally, 200 to 400 families might show up during a normal food distribution.

For many other similar examples, please see my previous article entitled “America’s ‘Food Lines’ Are Being Measured In Miles As Desperation Sets In All Over The Country”.  Yes, things got bad during the last recession, but they were never as bad as we are witnessing now.  In fact, the CEO of Feeding America says that demand is already at the highest level that she has ever seen

‘I’ve never witnessed a system being more strained,’ Feeding America CEO Claire Babineaux-Fontenot said.

‘For the first time probably in our history, we’ve had to turn some people away,’ she said, not that ‘We don’t want to do that, ever.’

Unfortunately, this economic collapse is still in the very early chapters.  If you can believe it, JPMorgan is actually projecting that U.S. GDP “will fall by 40 percent” on an annualized basis during the second quarter

According to CNBC, JPMorgan economists are forecasting that the GDP will fall by 40 percent through the spring months. They also predict unemployment will reach 20 percent in April, with 25 million jobs lost overall.

Such a drop would be, by far, the worst in U.S. history. For context, according to Credit Suisse (via Business Insider), the worst quarterly drop of the 2008 crash was 8.4 percent.

And even once the “shelter-in-place” orders are finally lifted, that will not mean that things will go back to normal.  As Nobel-prize winning economist Robert Shiller has noted, fear of the coronavirus is going to cause many Americans to avoid restaurants, sporting events and other businesses where public interaction is required for a long time to come…

“The shortage of supplies is generating horrible news stories that put us all on edge,” said Shiller. “It may mean people won’t go to restaurants or sporting events in good numbers for years. You know the disease might not well be eradicated for several years from now.”

So the truth is that we are heading into a very deep economic depression, and the economic suffering in this country is going to be off the charts.

As events have begun to spiral out of control, the Federal Reserve has sprung into action on a scale unlike anything that we have ever seen before, and this has pushed the Fed’s balance sheet above 6 trillion dollars

The Federal Reserve’s balance sheet increased to a record $6.13 trillion this week as the central bank used its nearly unlimited buying power to soak up assets and keep markets functioning smoothly, even as efforts to contain the coronavirus pandemic cut deeply into employment and economic output.

In the four weeks since the Fed slashed interest rates to zero, restarted bond purchases and rolled out an unprecedented range of programs to limit the economic damage from the outbreak, the central bank’s balance sheet has jumped by about $1.7 trillion.

Let me try to put those numbers in perspective.

During QE3, the Fed’s balance sheet increased by 1.7 trillion dollars over the course of an entire year, and now the Fed has achieved that same feat in just four weeks.

What the Fed is doing is completely and utterly insane, but to a certain extent it is working.

Even though we are in the midst of the most dramatic unemployment spike in American history, last week was the best week for the stock market in decades thanks to the Fed.

Isn’t that nuts?

I know that this also sounds incredibly absurd, but last week’s surge actually pushed P/E values back near record highs.

In other words, stock prices are incredibly overvalued at this moment.

And if everything that we have already witnessed was not enough, on Thursday the Fed announced that it will now be spending trillions of dollars to voraciously buy up bonds of all types

The Federal Reserve is not leaving any corner of the U.S. bond market behind in this crisis.

There’s no other way to interpret the central bank’s sweeping measures announced Thursday, which together provide as much as $2.3 trillion in loans to support the economy. It will wade into the $3.9 trillion U.S. municipal-bond market to an unprecedented degree, can now purchase “fallen angel” bonds from companies that have recently lost their investment-grade ratings, and has expanded its Term Asset-Backed Securities Loan Facility to include top-rated commercial mortgage-backed securities and collateralized loan obligations.

In other words, moving forward we will no longer have a “bond market”.  What we will have is a Fed-manipulated sham in which the Fed picks winners and losers.

Of course many believe that it is only a matter of time before the Fed starts buying stocks as well.

Those that love free markets should be absolutely disgusted by all of this, because the Fed is coming up with lots of new ways to give handouts to the very wealthy.

Meanwhile, the poor are rapidly getting poorer.

But don’t worry too much, because you will soon receive your $1,200 socialist handout from the federal government.

Try not to spend it all in one place.

Needless to say, $1,200 won’t last very long in the hands of most Americans, and one recent survey found that “63% of respondents said they will need another check within the next three months”.

Like I warned from the very beginning, these sorts of direct payments set a very dangerous precedent, and if a Democrat wins the presidency in November they may become permanent.

That may sound really good to you, but what are you going to do when it gets to the point where you have to spend 500 dollars a week just to feed your family?

At that point many of you will also be lining up at the crack of dawn to receive whatever the food banks have available to give you

Outside of Pittsburgh, Danielle Small pulled up 90 minutes early to a food distribution, but found two long rows of cars already ahead of her. Money was getting tight after her boyfriend had to take a pay cut, and she decided to make her first trip to a food bank this week.

She said the line moved efficiently as cars pulled ahead in clusters of 10. After Ms. Small, 32, received a box filled with chicken fajita strips, preserved peaches, fruit, nuts and juice, she mouthed, “Thank you,” to the volunteers and drove away.

Millions of Americans driving nice vehicles and wearing nice clothes are suddenly being forced to spend hours waiting in food lines because fear of the coronavirus has crashed our economy.

A day of reckoning has finally arrived, and a lot more pain is on the way.

Sadly, many Americans will just go along with whatever “solutions” are proposed as long as it looks like they may provide short-term relief.  What remains of our free markets is being obliterated, Congress is openly embracing socialism, and our rights are being stripped away at a staggering rate, but most people don’t seem concerned by any of this.

Most people just want the pain to end and for life to go back to normal, but that is simply not going to happen.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. 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 all many people as we possibly can.

They Shut Down America To Slow Down The Coronavirus, But In The Process They Killed The Economy

Will our economy ever be the same again?  At this moment, we are still in the midst of the most comprehensive nationwide shutdown in American history, and nobody knows when it will finally end.  The primary reason why governors all over the country issued “shelter-in-place” orders was because they wanted to “flatten the curve”, and this was done to keep millions of people from getting the virus all at once so that our hospitals would not be completely overwhelmed.  But these “shelter-in-place” orders are not going to completely end this pandemic.  In order to do that, a complete and total national “lockdown” would be needed, and that is not going to happen.  So the coronavirus is going to keep cycling through our population for an extended period of time until we get to the point where the vast majority of the population has built up immunity and the pandemic naturally burns itself out.  So in the end, the total number of people that will catch this virus will be about the same whether the “shelter-in-place” orders were issued or not.  But if the number of cases at any one time isn’t enough to overwhelm our medical resources, the overall death toll could potentially be less than it otherwise would have been.

In other words, these “shelter-in-place orders” are likely saving lives, but they are also killing the economy.

On April 3rd, it was announced that more than 6 million Americans had filed new claims for unemployment benefits the previous week, and I told my readers that we would probably never see a week like that ever again.

I was wrong.

This Thursday, it was announced that another 6.6 million Americans filed new claims for unemployment benefits during the previous week…

Another 6.6 million people filed for unemployment benefits last week, according to the US Department of Labor, as American workers continue to suffer from devastating job losses, furloughs and reduced hours during the coronavirus pandemic.

It was the second largest number of initial unemployment claims in history, since the Department of Labor started tracking the data in 1967.

Prior to this year, the all-time record for a single week was just 695,000.

So what we are witnessing right now is completely nuts.

Overall, a total of approximately 16.8 million Americans have filed new claims for unemployment benefits over the last 3 weeks

Altogether, about 16.8 million American workers, making up about 11% of the US labor force, have filed initial claims for jobless benefits in just the prior three weeks alone. About 7.5 million workers filed for their second week of benefits or more last week.

We already have more unemployed workers than we did at any point during the last recession, and it is only going to get worse with each passing week.

Meanwhile, other economic numbers have been absolutely abysmal as well.  National demand for gasoline has declined to the lowest level since 1968, and U.S. vehicle sales have plunged to levels that are absolutely catastrophic

For the whole month of March, total new vehicle sales plunged 37.9% year-over-year, with fleet sales (rental, commercial, and government) down 27.6% and retail sales down 40.5%. In terms of daily retail sales volume, according to estimates by Cox Automotive, early March sales had been well above the sales on the same day of the week, same week last year.

But by March 13, they were below the year-ago-level and then plunged. By April 1, they were down 71% from a year ago.

I am having difficulty finding the words to describe how bad those numbers are.

If things are this horrific already, what will happen if the U.S. stays shut down for another month or two?

With millions upon millions of Americans out of work and businesses all over the nation currently shuttered, rent payments are not being made on a scale that is unlike anything we have ever seen before.  The following comes from Zero Hedge

Previously we described that over 30% of US renters didn’t pay their April apartment rent as the fallout of coronavirus-induced mass unemployment claims continues to ripple across various key sectors. Despite that some tenants will receive temporary protection from evictions “by a patchwork of federal and local laws” the reality is that as unpaid rents pile up, so will mortgage defaults as landlords struggle to satisfy their obligations – which will in turn affect fixed-income investments backed by said mortgages.

On the commercial side, Bloomberg estimates that about $81 billion in commercial rent comes due on average each month, but of course this is anything but a typical month, resulting in “The delay of a sizable portion of that will put an enormous strain on the complex systems for financing real estate and highlight how quickly the pain caused by social distancing has spread,” as Bloomberg observes.

Domino after domino is going to fall, and the economic pain is going to be off the charts.

And with each passing week, the economic forecasts by the big banks just continue to get even worse.

At this point, JPMorgan is projecting that U.S. GDP will plunge at a 40 percent annualized rate during the second quarter

JPMorgan economists issued an even more dire forecast, now foreseeing a 40% decline in the nation’s gross domestic product for the second quarter and a surge in April’s unemployment rate to 20% with 25 million jobs lost.

In an earlier forecast, they said second-quarter GDP would be down 25%.

The only period in all of U.S. history when we witnessed anything that even comes close to resembling this was during the Great Depression of the 1930s.

Of course Congress has tried to help by passing several relief bills, but in many instances they aren’t working quite as anticipated.

For example, a loan program for small businesses was originally supposed to provide up to 2 million dollars in emergency help for each business, but there has been so much demand that loans are now being capped at $15,000

A federal disaster loan program offering up to $2 million in relief is now capping out at $15,000 — and is leaving some borrowers wondering if they’ll even get that.

The Economic Injury Disaster Loan program, an offshoot of the Small Business Administration’s emergency funds system, has faced an unprecedented number of requests amid the COVID-19 pandemic, and is having trouble keeping up and following through with promised loan amounts, The New York Times reports.

As this pandemic stretches on, it is probably inevitable that Congress will pass even more emergency measures, and needless to say the Federal Reserve is going completely bonkers when it comes to flooding the system with money.

Ultimately, what they are doing will create inflation like we have never seen before, but most Americans aren’t worrying about that right now.

What most Americans really want is to get back to work, but Dr. Anthony Fauci and other medical “experts” are warning that may not happen for some time.

The longer the economy is shut down, the deeper this economic downturn is going to become.  And we certainly don’t want it to get too much deeper, because the IMF is already warning that it looks like this economic downturn will be the worst since the Great Depression

The International Monetary Fund sees the world economy suffering its worst recession since the Great Depression this year, with emerging markets and low-income nations in Africa, Latin America and Asia at particularly high risk.

With half of the IMF’s 189 member countries seeking aid, the executive board has agreed to double access to its emergency financing to meet expected demand of about $100 billion, Managing Director Kristalina Georgieva said in a speech on Thursday.

Needless to say, I have been warning of an economic crisis of this magnitude for a very long time.

Let us hope that the “shelter-in-place” orders will be lifted as soon as possible, because that would certainly give the economy some relief.

But things will not be going back to “normal”.  COVID-19 will start spreading faster once again once the restrictions are lifted, and a large percentage of the population will remain huddled in their homes because they will be extremely afraid of catching the virus.

So economic activity will remain depressed for an extended period of time no matter what else happens, and meanwhile Congress and the Federal Reserve are absolutely flooding the system with fresh money.

That is a recipe for an inflationary disaster, and our standard of living will experience a very painful adjustment as a result.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. 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 all many people as we possibly can.

Food Banks Warn They Will Soon Run Out Of Food As Economic Suffering Explodes All Over America

What are hungry Americans going to do when the food banks don’t have any more food for them?  Over the past couple of weeks, we have witnessed the largest spike in unemployment in all of U.S. history.  Since most of those workers did not have any sort of a cushion to fall bank on, a lot of of them have been forced to seek out emergency assistance for themselves and their families almost immediately.  Of course our national network of food banks was not built to handle this sort of a scenario, and as you will see below, many of them are already starting to run out of food.  But if things are this bad at the very beginning of this new economic downturn, what are things going to look like a few months from now?

It is imperative for people to understand that we are now in uncharted territory.  At this point, even the head of the IMF is warning that this new economic crisis will be “way worse” that the last recession…

The coronavirus pandemic has created an economic crisis “like no other” — one that is “way worse” than the 2008 global financial crisis, the International Monetary Fund’s top official said Friday.

“Never in the history of the IMF have we witnessed the world economy come to a standstill,” Kristalina Georgieva, managing director of the IMF, said at a news conference.

And of course we are already seeing economic numbers in the United States that absolutely blow away anything that we witnessed back in 2008 and 2009.  I don’t know that any of us ever anticipated seeing a single week when 6.6. million Americans would file new claims for unemployment benefits.

As this “coronavirus shutdown” continues all over the nation, U.S. economic numbers will continue to be nightmarish for the foreseeable future.  In fact, what Morgan Stanley is projecting for the second quarter is nothing short of terrifying

Following Friday’s report, Ellen Zentner, chief U.S. economist at the New York-based investment bank Morgan Stanley, lowered her growth forecast for second-quarter gross domestic product to -38 percent on an annualized basis. She says the U.S. economy will lose 21 million jobs, running the unemployment rate up to 15.7 percent, a level not seen since the Great Depression.

Of course the people that are going to feel the most pain are those on the lowest rungs of the economic food chain.

According to Bloomberg, “bread lines are forming” even in some of the wealthiest areas of the country…

With more than 10 million people across the nation suddenly unemployed, bread lines are forming in the shadows of privileged enclaves like this one in Florida.

For the past two weeks, the kitchen staff at Howley’s has been cooking up free meals—the other day it was smoked barbecue chicken with rice and beans, and salad—for thousands of laid off workers from Palm Beach’s shuttered restaurants and resorts. The rows of brown-bag lunches and dinners are an early warning that the country’s income gap is about to be wrenched wider as a result of the Covid-19 crisis, and the deep recession it has brought with it.

Elsewhere, vehicles are lining up at the crack of dawn at food banks all across the United states.

Feeding America is the largest food bank network in the nation, and the demand that they are seeing right now is unprecedented

Millions of people newly unemployed mean food banks, food pantries and soup kitchens are seeing a flood of new clients appearing at their doors, just as supplies are dwindling because of growing demand from consumers stuck at home.

Food banks are reporting a 40% increase in demand, on average, said Katie Fitzgerald, chief operating officer at Feeding America, a network of 200 food banks and 60,000 food pantries and meal programs nationwide. Some say they are seeing double to quadruple the number of people asking for help.

Unfortunately, this is happening at the same time that donations to food banks are way, way down.  Feeding America locations are usually heavily supplied by major retailers, and right now those retailers are having a really difficult time keeping their own shelves stocked.

As a result, Fitzgerald is warning that some Feeding America locations may soon “not have enough food to distribute”

“Food banks could very well get so low on their inventories that they would not have enough food to distribute,” she said.

Louisiana has become one of the national hotspots of the coronavirus outbreak, and things there are particularly dire.

In fact, the head of the Greater Baton Rouge Food Bank says that his facility only has “a few weeks left of food”

Mike Manning, president of the food bank, said its usual sources of food for the needy in 11 parishes are drying up, as residents stock up their refrigerators and shelves at home during the coronavirus pandemic.

“Our inventory is down significantly,” Manning said Thursday. “We’re looking at a few weeks left of food, unless we can find relief from the federal government and Feeding America,” a national network of more than 200 food banks.

But at least they haven’t had to turn anyone away yet.

At the Greater Pittsburgh Community Food Bank, hundreds of vehicles have been turned away in recent days…

The Greater Pittsburgh Community Food Bank provided food to about 4,000 vehicles at three recent events, but had to turn hundreds away. Traffic was backed up for miles, said Lisa Scales, the agency’s CEO.

On Monday, 40 cars had already lined up by 9 am ET, even though distribution didn’t start until noon. More than 800 vehicles ended up receiving boxes of groceries.

The longer this “coronavirus shutdown” lasts, the deeper the desperation is going to become.

And even once the “shelter-in-place” orders have finally been lifted, one recent survey found that most Americans plan to continue to hunker down

A majority of Americans are hunkering down and say they will continue to social distance or stay at home even if lockdown orders are lifted, according to a new poll.

While 87% of the American public is staying home — regardless of whether or not it’s mandated by state or local municipalities — most plan on continuing to do so for all of April, according to the poll taken by the Huffington Post/YouGov survey.

So the truth is that there will not be a return to “normal” any time soon.

As long as a substantial portion of the population is afraid of the coronavirus, economic behavior is simply not going to go back to old patterns.

And the same survey that I just quoted found that a staggering 62 percent of all Americans believe that this pandemic will have “lasting effects on the nation”

“Only about one-quarter of Americans say they expect things will soon go back to normal in the country, with 62% foreseeing lasting effects on the nation. The rest are unsure what will happen.”

In the days ahead, there will be economic ups and downs, and financial markets will continue to fluctuate wildly, but the truth is that the “good times” are gone for good.

And remember, this coronavirus is just the beginning, and a lot more challenges are on the way.

As “the perfect storm” unfolds, please don’t forget those that warned you about all of these things in advance.

These are truly unprecedented times, and the level of economic suffering that we are already witnessing is off the charts.

Sadly, the pain for ordinary Americans in only just getting started, and that is going to have enormous implications for our society as a whole.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. 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 all many people as we possibly can.

49 Percent Of U.S. Companies Expect Layoffs “In The Next Three Months” As Unemployment Heads To Great Depression Levels

If the U.S. economy remains in shutdown mode for the next several months, we are going to witness layoffs like we have never seen before in U.S. history.  Of course what we have already witnessed is difficult to believe.  Last week more than 3.2 million Americans filed initial claims for unemployment benefits, and that was more than four times higher than the previous all-time record.  This week another massive surge is expected, and we will continue to see lots more layoffs for as long as this pandemic persists.  It is going to be a very challenging time for the country as a whole, because we haven’t seen anything like this since the Great Depression of the 1930s.

Yes, shutting down most of the nation is saving lives, but it is also absolutely crippling our economy.  According to a survey that was conducted from March 20th to March 26th by Challenger, Gray & Christmas, almost half of all U.S. companies say that it is likely that they will be conducting layoffs at some point “in the next three months”

Forty-nine percent of companies told Challenger, Gray & Christmas they are very or somewhat likely to conduct layoffs in the next three months, while 11% reported they have conducted permanent layoffs; another 7% have conducted temporary layoffs.

If that actually happens, can you imagine what that will do to our unemployment rate?

I know that this may sound really crazy, but at this point the St. Louis Fed is projecting that we will soon see a 32 percent unemployment rate

Millions of Americans already have lost their jobs due to the coronavirus crisis and the worst of the damage is yet to come, according to a Federal Reserve estimate.

Economists at the Fed’s St. Louis district project total employment reductions of 47 million, which would translate to a 32.1% unemployment rate, according to a recent analysis of how bad things could get.

Could things really get that bad so quickly?

If we do see a number that high, it would surpass even the highest unemployment rates that we witnessed during the Great Depression of the 1930s.

The only way to avoid this sort of a nightmare scenario would be to put America back to work as quickly as possible, but that is simply not going to happen.  President Trump just extended the federal coronavirus guidelines until at least April 30th, and that means that it is exceedingly unlikely that any state will end their lockdowns before then.

And actually more states continue to join the “shelter-in-place” party.  For example, check out what just happened in Arizona

Gov. Doug Ducey is ordering all Arizona residents to remain in their homes for the next month except for essential needs to limit the spread of the coronavirus, which has infected more than 1,000 people in the state.

The “Stay Home, Stay Healthy, Stay Connected” executive order is set to take effect Tuesday at 5 p.m. and remain in place at least until April 30.

It would be wonderful if the pandemic had subsided so much by April 30th that most Americans would be able to get back to work, but many states are already anticipating that this crisis will run much longer than that.

Officials in New York City are warning that the city may stay closed down for the next two months, and in Virginia the current “shelter-in-place” order doesn’t expire until June 10th

Virginia Gov. Ralph Northam issued a statewide stay-at-home order that’s effective immediately and will remain in place until June 10, unless the governor amends or rescinds it.

In the end, officials will be watching the raw numbers in order to determine when it is finally safe to resume normal activity.

Right now, the number of confirmed cases and the number of deaths is still increasing, but at least the rate at which they are rising is starting to slow down.

Hopefully that means that the “shelter-in-place” orders are having a positive effect.

But if everyone is allowed to resume normal activity a couple of months from now, we could see a “second wave” erupt as the number of cases starts to explode once again.

The only way to truly defeat this virus would be to conduct a complete and total nationwide lockdown for at least 28 days at the same time that the rest of the world is also conducting simultaneous lockdowns, and there is no way that is going to happen.

So it looks like we will be dealing with this virus for a long, long time to come.

As Americans brace for the economic collapse that is now unfolding all around us, they are hoarding cash “at the fastest pace since Y2K”, and retailers are boarding up their stores all over the country

High-end stores across the country have been boarding up their stores in anticipation of civil unrest due to the Chinese coronavirus pandemic.

In Beverly Hills, the Pottery Barn and West Elm stores near Rodeo Drive were spotted with boards across the windows according to TMZ.

Meanwhile, stores in New York, San Francisco, Seattle, Chicago, Paris, Vancouver and elsewhere were similarly boarded up.

If I was in their shoes, I would probably be doing the same thing.  As unemployment soars and people get sick and tired of being confined to their own homes, it is probably only a matter of time before we see civil unrest, rioting, looting, and an unprecedented spike in the crime rate.

Of course there are still a lot of people out there that are hoping for a “V shaped recovery” once this pandemic begins to fade, but I wouldn’t count on that happening.

Scientists are warning that there could be multiple “waves” during this pandemic, and fear of this coronavirus is going to persist for a very long time to come.  And now that all of the economic bubbles are starting to burst, experts such as Egon von Greyerz are convinced that “there will be no recovery at all”

No one should believe for one moment that once CV is gone we will experience a V shaped recovery. There will be no V, there will be no U and nor will we see a hockey stick recovery. What few people understand, including the so called experts, is that there will be no recovery at all. An extremely rapid decline of the world economy has just started and will be devastating in the next 6-12 months, whether CV ends soon or not.

Personally, I do believe that there will be ups and downs throughout this process, but overall we are facing a “great unraveling” that will be more painful than most Americans would dare to imagine.

This coronavirus is not going to be the only challenge that we will have to face.  We have entered a time when there will be one crisis after another, and there will be no way to reinflate the bubbles this time.

Sadly, so many Americans today have come to take such great pride in our debt-fueled “national prosperity”, and now that prosperity is going to be smashed into a thousand pieces.

Our day of reckoning has finally arrived, and it is going to be really, really painful for the American people.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. 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 all many people as we possibly can.

The U.S. Government Is Preparing For An 18 Month Pandemic And “Critical Shortages”

Are you prepared for the nationwide shutdown that is happening now to last for the next 18 months?  You may not believe that such a thing will happen, but the federal government apparently does.  A 100 page government plan marked “For Official Use Only // Not For Public Distribution or Release” was obtained by the New York Times, and it paints a very bleak picture of what is coming.  If the projections in this document are anywhere close to accurate, large numbers of Americans will die, the U.S. economy will completely implode, and we will see widespread civil unrest.  So let us pray that the assessments in this government plan turn out to be dead wrong.

According to the document, this coronavirus pandemic “will last 18 months or longer”

A federal government plan to combat the coronavirus warned policymakers last week that a pandemic “will last 18 months or longer” and could include “multiple waves,” resulting in widespread shortages that would strain consumers and the nation’s health care system.

The 100-page plan, dated Friday, the same day President Trump declared a national emergency, laid out a grim prognosis for the spread of the virus and outlined a response that would activate agencies across the government and potentially employ special presidential powers to mobilize the private sector.

I can’t even imagine what our country would look like if current conditions stretched into the middle of 2021.

As a nation, I don’t believe that we would be able to handle it.

The document also envisions that there will be “critical shortages”

“Shortages of products may occur, impacting health care, emergency services, and other elements of critical infrastructure,” the plan warned. “This includes potentially critical shortages of diagnostics, medical supplies (including PPE and pharmaceuticals), and staffing in some locations.” P.P.E. refers to personal protective equipment.

Of course there are already shortages of some drugs and of many basic consumer products such as toilet paper.

Sadly, things could soon get much worse.

Meanwhile, the overall economy continues to collapse at a staggering pace.  A former economic adviser to President Trump is now warning us that the U.S. economy could lose up to a million jobs this month alone

Kevin Hassett, who served as a top economic adviser to President Trump until last summer, said Monday that the United States economy could shed as many as one million jobs in March alone because of layoffs and hiring freezes related to the coronavirus.

“If you have normal job disruption, and hiring just stops,” Mr. Hassett said, “you’ll have the worst jobs number ever.”

But if this pandemic continues to escalate, a million jobs lost will just be a drop in the bucket.

In fact, the National Restaurant Association is now projecting that their industry will lose “between five and seven million jobs”

The National Restaurant Association is predicting the unprecedented carnage is only just beginning, on Wednesday writing a letter to the White House and Congress detailing an estimated $225 billion in sales will be wiped out over the next three months, crucially prompting the loss of between five and seven million jobs.

Remember, that is just one industry.

The retail industry is also being completely devastated as well, and we just learned that the largest operator of shopping malls in the United States is shutting them all down

Simon Property Group, the largest owner of shopping malls in the nation, is closing all of its malls and retail properties because of the coronavirus outbreak.

The closings start at 7 p.m. local time Wednesday and the malls are expected to end March 29, the Indianapolis-based company said in a news release.

Of course they won’t actually open back up on March 29th if this pandemic continues to get worse.

So far, COVID-19 has killed less than 200 Americans.

If our society is being this disrupted now, what will things be like if the death toll becomes 1,000 times larger?

For years, I have warned that our economy was extremely vulnerable, and now that is becoming exceedingly obvious to everyone.  It certainly didn’t take too much of a push to burst all the bubbles and send everyone into a severe panic, and now the economy is collapsing at a pace that is absolutely breathtaking.

According to NBC News, state unemployment websites all over the nation are crashing because so many people are suddenly applying for unemployment benefits…

Workers who have suddenly found themselves without a paycheck because of the growing coronavirus pandemic in the United States are now dealing with another frustration — state unemployment websites crashing because of high traffic.

From Oregon to New York and Washington, D.C., officials and Twitter users have highlighted the problem after the mass closing of restaurants, retail stores and other businesses as part of the effort to slow the spread of the virus.

Tomorrow morning most Americans will wake up assuming that their jobs are safe.  But right now an increasing number of people are being let go without any advance warning whatsoever.  Here is one example

Eileen Hanley was wrapping up her weekend and getting ready for the week ahead on Sunday evening when an email popped up in her inbox with the subject line “COVID-19 uncertainty.” It was from her boss at the small Manhattan law firm where she worked part time as a receptionist.

“We hope you are feeling well during this time,” the email began. Then it cut to the chase: The firm was losing revenue because of the outbreak, and it would have to eliminate “a number of positions,” including hers, “effective immediately.”

We have never seen anything like this before.

Things were tough during World War II, but it was actually a time when the country geared up and worked extremely hard to defeat the enemy.

But now economic activity all over America is being brought to a screeching halt.  In fact, we just learned that the three largest automakers have shut down all of their U.S. factories

Detroit’s Big Three automakers plan to temporarily close all U.S. factories as the coronavirus sweeps across the country.

The companies bowed to pressure from union leaders and employees who called for protection from the pandemic that’s spread to more than 212,000 people in nearly every country across the globe.

As a nation, we would survive a 30 day shutdown.

But if life doesn’t get back to normal for “18 months”, we are going to witness a societal meltdown of epic proportions.

This week, investor Bill Ackman told CNBC that “hell is coming”, and he warned that unless the entire country is shut down simultaneously for an extended period of time “America will end as we know it”…

“What’s scaring the American people and corporate America now is the gradual rollout,” Ackman told Scott Wapner on “Halftime Report” on Wednesday. “We need to shut it down now. … This is the only answer.”

“America will end as we know it. I’m sorry to say so, unless we take this option,” he said. Ackman added that if Trump saves the country from the coronavirus, he will get reelected in November.

I believe that he makes an excellent point, but I would take it one step further.

If the entire world shut down for 30 days, this pandemic would quickly be brought under control.  If only the U.S. shuts down, it is inevitable that the virus would keep coming back into the country as the pandemic continues raging elsewhere on the globe.

Of course we aren’t going to get the entire globe to agree to shut down simultaneously for 30 days.

So this outbreak will continue to spread and the case numbers will continue to grow.

For a long time I have been warning that something would come along that would burst all the bubbles and trigger a horrifying economic meltdown.

Now it is upon us, but now is not a time for fear.

With God’s help, we will get through this.

But life is not going to go back to the way it was before.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. 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.

The Cold, Hard Facts Which Prove That The Past Decade Was Actually Quite Awful For The U.S. Economy

If this is what “the good times” look like, how nightmarish are “the bad times” going to be?  In America today, more than 500,000 of us are homeless, about 40 million of us are living in poverty, 50 percent of all workers make less than $33,000 a year, and 70 percent of us have cried about money.  But at least the economy has been “growing”, right?  Well, in this article I would like to address that.  Even if you believe that the highly manipulated economic growth numbers that the government puts out are legitimate, they still show that we are in one of the worst economic stretches in all of U.S. history.

From 1930 to 1933, the U.S. economy experienced four years in a row during which GDP growth each year was under 3 percent.

Up until this current stretch, that was the longest streak in our entire history.

Of course we have absolutely shattered that old record, and now that 2019 is over we can add one more year to our growing total.  At this point, you have to go back to 2005 to find the last year in which the U.S. economy grew by at least 3 percent.

That means that the U.S. economy has not actually had a “good year” since the middle of the Bush administration.

14 years in a row of economic growth below 3 percent is not anything to cheer about.  In fact, it is downright abysmal.

But the good news is that stock prices have been steadily rising over the past decade.  Just check out the numbers that David Wessel recently shared with PBS

So, look, the stock market had a terrific decade. The S&P 500 rose nine out of 10 years. The S&P 500 is up nearly 30 percent this year, just this year alone. And half the stock market wealth in America is held by the top 1 percent of people.

The Federal Reserve created trillions of dollars out of thin air and pumped that money into the financial markets, and of course that was going to be good for stock prices.  And pushing interest rates to the floor also helped inflate the massive bubble that we now see on Wall Street.  The following bit of analysis comes from CNBC

The Fed has kept borrowing rates low throughout the decade, gradually raising them from the end of 2015 through 2018, only to cut quickly again in 2019 to try to fend off any uncertainty in the economy. The central bank’s balance sheet sits at roughly $4 trillion, quadruple its size in 2008.

Needless to say, there is going to be a great price to pay in the long-term for such manipulation, but as long as stock prices keep rising most people don’t seem to care.

Unfortunately, these high stock prices do not represent any sort of permanent wealth.  They are simply a snapshot of what people are willing to pay at this moment in time, and a major disaster could come along which could cut those prices in half by next month.

Economic optimists also like to point to the employment numbers as evidence that the economy is doing well, but those numbers are so manipulated that they are essentially meaningless at this point.

In fact, most of the people that are transitioning from not having a job to having a job each month did not even count as “unemployed” the month previously

This year, the portion of people who got jobs each month who wouldn’t even have been counted among the unemployed the month before reached 75 percent. That’s by far the highest it’s been in the last three decades. The percentage of working-age Americans who have jobs only returned to its pre-Great Recession peak in the last few months. (It still has a ways to go before it returns to its previous peak, just before the 2001 recession.)

Today, more than 100 million working age Americans do not have a job, and John Williams has calculated that if honest numbers were being used that the real unemployment rate would be above 20 percent.

The truth is that we still have an employment crisis in this country, and anyone that suggests otherwise is not being straight with you.

Meanwhile, productivity growth has been absolutely terrible over the past decade, an increasing share of the economy has become concentrated in corporate hands, and small business creation has continued to collapse.  The following comes from an excellent article by Annie Lowrey

In many ways, the American economy became more sclerotic. Corporate concentration increased, with more industry sectors dominated by a small handful of firms. All the stories about the furious innovation coming from Silicon Valley and other tech-dominated regions aside, the start-up economy continued its long, slow collapse. The number of IPOs has fallen, and there are now half as many publicly listed businesses as there were in the late 1990s. Our cultural obsession with start-ups peaked at a time when companies under a year old were half as common as they were 40 years ago.

At the same time, the cost of living for average American families has been skyrocketing but our paychecks have not.  As a result, more Americans are being squeezed out of the middle class with each passing month.  Here is more from Lowrey

Millions of young families who tried to save for a home were unable to purchase one, sapped by the toxic combination of high rents and a lack of stock. Throw in sky-high child-care prices, spiraling out-of-pocket health-care fees, and heavy educational-debt loads, and the 2010s crushed a whole generation as it entered its prime earning years. The Millennials are on track to be the first generation in contemporary history to end up poorer than their parents—unless Gen X beats them to it.

The only thing that has saved our economy from plunging into a horrific depression has been the greatest debt binge in all of human history.

Over the last ten years we have added more than 10 trillion dollars to the national debt, state and local government debt has soared to record highs all over the nation, corporate debt has risen more than 50 percent, student loan debt has more than doubled and the total amount of U.S. household debt is now nearing 14 trillion dollars.

By stealing from the future, we have been able to stabilize the present, but the long-term cost will be more than we can bear.

It is only a matter of time before our mistakes catch up with us, and the clock is ticking.

So please don’t try to tell me that the U.S. economy is in good shape.

The last decade was one of the worst stretches for economic growth in our history, and a day of reckoning awaits us during the decade that is directly ahead.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End 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 have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. 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.

Do NOT follow this link or you will be banned from the site!