ANOTHER “Bomb Cyclone” Will Bring More Flooding To Parts Of The Midwest That Were Hit By A “1,000 Year Flood” Last Month

Less than a month after a “bomb cyclone” caused a “1,000 year flood” in the middle portion of the country, another “bomb cyclone” of similar strength is going to bring even more flooding to the High Plains and Upper Midwest.  According to meteorologists, it is being projected that this new “bomb cyclone” will be “similar in intensity and in snowfall” to the last one, and the latest forecast is calling for “more than 30 inches in some areas”.  The floods that we witnessed last month absolutely devastated communities throughout the region, and now it is going to happen again.  The middle part of our nation has literally never seen anything like this happen ever before, and this is easily the worst natural disaster to hit the United States since Hurricane Katrina.

Before I get into the details of the latest weather forecast, let’s review what we have witnessed so far.  “At least 1 million acres of U.S. farmland” were under water for at least 7 days last month, according to Agriculture Secretary Sunny Purdue “as many as a million calves” were lost in the flooding in the state of Nebraska alone, and hundreds of millions of dollars worth of crops were destroyed.  Thousands upon thousands of farmers were financially ruined, and thousands of farmers will not be able to plant any crops at all this year.

If you can point out a worse agricultural disaster in the last 50 years in the United States, please feel free to do so.  To my knowledge, there isn’t one.

And now a second “bomb cyclone” is on the way this week.  According to CBS News, it looks like this “bomb cyclone” will produce “a blizzard of epic proportions”…

Only three weeks after a “bomb cyclone” — one of the most intense storms on record — pummeled the Plains and Midwest, another bomb cyclone of similar strength has been forecast. This spring storm seems poised to dump even heavier snow; it could also be followed by another round of significant river flooding.

Over the past few days, various forecast computer models have shown a blizzard of epic proportions for the north-central Plain States and Upper Midwest. Every time a model is updated, the storm depicted seems to get even more intense. At this point, it seems likely that some of the same areas impacted by devastating flooding just weeks ago are about to get slammed by an historic blizzard Wednesday through Friday.

Some Midwest communities already look like they have literally been through a war.

What do you think they are going to look like after another epic blizzard and more severe flooding rips through them?

If you are not familiar with the term “bomb cyclone”, here is a pretty good explanation from MSN

A bomb cyclone is a rapid drop in air pressure — at least 24 millibars in 24 hours — and often is over or near oceans or seas because it requires warm moist air smacking into cold dry air, along with volatile weather from the jet stream. The central and mountain part of the country may get one of these every few winters, said Greg Carbin, forecast branch chief for the National Weather Service’s Weather Prediction Center in Maryland.

But this would be the second such storm in less than a month. The March 13 storm caused massive flooding in the Midwest, a blizzard in Colorado and Wyoming, and produced winds of between 96 mph and 110 mph (155 and 177.02 kph).

According to the National Weather Service, this new storm will dump a lot of snow on the northern Rockies on Tuesday, and from there it “will pick up in intensity as it moves into the central USA by Wednesday and into Thursday”.

The forecast is calling for the heaviest snow to fall in parts of Nebraska, South Dakota and Minnesota.

If you will remember, Nebraska was hit by flooding unlike anything it had ever seen before last month.  And now we are being told that this new storm “will further exacerbate flooding in Nebraska”

“This blizzard will further exacerbate flooding in Nebraska with the added insult of heavy snowfall to eventually melt,” said Ryan Maue, a meteorologist at the private weathermodels.com. “This is more bad news for suffering farmers who are unable to flip the calendar on winter.”

Even before this storm, the National Weather Service was warning that there would be “above-average precipitation across much of the Lower 48” over the next few months and that 200 million Americans were at risk of being affected by flooding.

But nobody was expecting another “bomb cyclone” to come so soon.

I have been repeatedly warning my readers that our planet is becoming increasingly unstable and that global weather patterns are really starting to go haywire.  We are seeing things happen that we have never seen before, and what I have shared in this article is yet another example.

Since January 1st, the middle portion of the country has already received approximately twice the precipitation that it normally does, and that doesn’t even count the precipitation from the “bomb cyclone” that is about to strike.

The crop losses that we have already witnessed are absolutely staggering, and now we are about to get hit with another severe blow.

Earlier today I went to the grocery store, and I was stunned by the high prices.

But the truth is that this is as low as food prices are going to get.  A series of catastrophic events threatens to significantly reduce global food production this year.  If you doubt this, just check out what has been happening in China.

We like to think that we are immune to the forces of nature that have played havoc with other societies throughout human history, but we aren’t.

Right now we are watching a great human tragedy play out in the middle portion of the country, but since we depend on them to grow much of our food, the truth is that we are all going to be feeling the pain of this tragedy in the months ahead.

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

Midwest Apocalypse: According To Satellite Data, “At Least 1 Million Acres Of U.S. Farmland” Have Been Devastated By Floods

We have never seen anything like this before.  According to satellite data that was just released by Reuters, “at least 1 million acres of U.S. farmland” were covered by water for at least seven days this month.  That is an agricultural disaster without equal in modern American history, and yet the mainstream media is treating this like it is some sort of second class story.  It isn’t.  This is the biggest news story of 2019 so far, and people want to know what is going on.  A few days ago, I posted a story entitled ‘“As Many As A Million Calves Lost In Nebraska” – Beef Prices In The U.S. To Escalate Dramatically In The Coming Months’, and it has already been shared on social media more than 145,000 times.  Farming communities all over the central part of the nation now look like war zones as a result of all this flooding, but the media elites on the east and west coasts don’t want to write about it.  And with more flooding on the way for the next two months, this crisis is only going to get worse.

This is the time of year when farmers are gearing up to plant wheat, corn and soybeans, and now a substantial portion of our farmland will not be able to be used at all this year.  According to Reuters, at least a million acres of farmland were covered by floodwaters for at least seven days this month, and that “will likely reduce corn, wheat and soy production this year”…

At least 1 million acres (405,000 hectares) of U.S. farmland were flooded after the “bomb cyclone” storm left wide swaths of nine major grain producing states under water this month, satellite data analyzed by Gro Intelligence for Reuters showed.

Farms from the Dakotas to Missouri and beyond have been under water for a week or more, possibly impeding planting and damaging soil. The floods, which came just weeks before planting season starts in the Midwest, will likely reduce corn, wheat and soy production this year.

And with “as many as a million calves” lost to the flooding, a lot less food than anticipated is going to be produced in the United States for the foreseeable future.

Between March 8th and March 21st, almost 1.1 million acres of cropland and over 84,000 acres of pastureland were covered by water for at least a week.  With more rain on the way, it is essentially going to be impossible for most of those acres to be usable this year.

In Iowa, 474,271 acres were covered by floodwaters for at least seven days in March, and Iowa farmers are facing some very tough deadlines.  Corn must be planted by May 31st and soybeans must be planted by June 15th in order to qualify for flood insurance.  For most Iowa farms that were covered by floodwaters, that is going to be impossible.

Overall, the recent flooding caused “at least $3 billion” in economic damage according to authorities, but many believe that the final number will be far higher.

Thousands upon thousands of farms have been completely destroyed, and thousands upon thousands of farmers will not plant any crops at all this year.

In addition to the vast agricultural devastation that we have witnessed, thousands upon thousands of homes have been destroyed as well, and now the National Ground Water Association is warning that “the safety of more than a million private water wells” could be compromised…

Record flooding in the Midwest is now threatening the safety of more than a million private water wells. The National Ground Water Association estimates that people living in more than 300 counties across 10 states have their groundwater threatened from bacterial and industrial contamination carried by flood waters.

If you live in the middle of the country and there is a chance that your well may have been compromised, please don’t take any unnecessary chances.  Contaminated water can be really, really bad news.

Unfortunately, this is just the beginning.  According to the NOAA, we are entering an “unprecedented flood season” that could potentially “impact an even bigger area of cropland”

Spring floods could yet impact an even bigger area of cropland. The U.S. government’s National Oceanic and Atmospheric Administration has warned of what could be an “unprecedented flood season” as it forecasts heavy spring rains. Rivers may swell further as a deep snow pack in northern growing areas melts.

In my previous article entitled ‘”200 Million People At Risk: National Weather Service Warns Apocalyptic Midwest Floods Are “A Preview Of What We Expect Throughout The Rest Of The Spring”’, I included a map from the NOAA which shows which areas of the central part of the country are projected to receive unusually high levels of rainfall over the next few months.

Unfortunately, there is a tremendous amount of overlap with areas that have already been devastated by flooding.

On Friday and Saturday, there will be “more heavy rains” in the Midwest, and Nebraska is in “the direct path” of the center of the storm…

From the Central Plains to the Midwest, it has been a disastrous spring for river flooding. A weather system slated to bring more heavy rains Friday into Saturday could aggravate the situation along and near the Missouri and Mississippi rivers.

It’s a one-two punch that combines additional rainwater with fresh runoff from snowmelt. Perhaps worst off is Nebraska, in the direct path of Friday’s quick burst of moisture. Barely a week has passed since Gov. Pete Ricketts estimated the cost of ongoing flooding in that state at more than $1 billion.

This is it.  America is being hammered by one storm after another, and I very much encourage you to get prepared for a very rough ride ahead.

There is going to be a lot more flooding.  Prices for beef, dairy, wheat, corn and soy products are going to rise significantly, and just when you think they are way too high they are going to keep on rising.

This is already the worst agricultural disaster in modern American history, and federal authorities are telling us that we should expect things to continue to get worse for at least two more months.

Perhaps the mainstream media will eventually decide to take this story seriously, but until they do those of us in the alternative media will do our best to keep you updated.

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

“As Many As A Million Calves Lost In Nebraska” – Beef Prices In The U.S. To Escalate Dramatically In The Coming Months

According to Agriculture Secretary Sunny Purdue, there “may be as many as a million calves lost in Nebraska” due to the catastrophic flooding that has hit the state.  This is not a rumor, this is not an exaggeration, and this is not based on any sort of speculation.  This number comes to us directly from the top agriculture official in the entire country, and it means that the economic toll from the recent floods is far greater than most of us had anticipated.  You can watch Purdue make this quote on Fox Business right here, and it is important to remember that this number is just for one state.  It is hard to imagine what the final numbers will look like when the livestock losses for all of the states affected by the flooding are tallied up.  This is already the worst agricultural disaster in modern American history, and the National Weather Service is telling us that there will be more catastrophic flooding throughout the middle portion of the nation for the next two months.

Nebraska Governor Pete Ricketts says that this is the worst flooding that his state has ever experienced.  Ricketts originally told us that 65 out of the 93 counties in his state have declared a state of emergency, but that number has now risen to 74.  Hundreds of millions of dollars of damage has been done in his state alone, and that is just an initial estimate.

It deeply offends me that the big mainstream news channels have spent so little time covering this disaster.  This is the biggest news story of 2019 so far by a very wide margin, but because it happened in the middle of the country they are not giving it the attention that it deserves.

In the short-term, food prices will not rise too dramatically because the stores are selling the food that has already been produced.  But as the months roll along, you will start to notice food prices steadily increase.  Millions of bushels of wheat, corn and soybeans have been destroyed by the flooding so far, and thousands of farmers will not be able to plant crops at all this year.  And the livestock losses that we have already experienced will be felt for many years to come.

Beef will never be lower in price than it is right now.  So if you are a beef lover, you may want to stock up.

When the flooding initially came, it happened so fast that many farmers were powerless to do anything about it.  In Sherman County, farmer Richard Panowicz says that ice and debris were “exploding from the river”

“Within 15 minutes it was devastation,” Panowicz said, with water, ice and debris exploding from the river with nothing to stop it.

He described some ice chunks as 3 feet thick and the size of an extended-cab pickup.

Panowicz said a lot of the dead calves he’s picked up have had broken legs. Many of the carcasses were found by neighbors.

In other cases, farmers were faced with a heartbreaking choice between saving their animals or saving their neighbors.  One farmer that rushed to help his neighbors ended up losing 30 calves to the floodwaters

Before Mahon could think about his animals, he needed to help his neighbors. As the water rose, he rescued one with his tractor, the floodwater lifting it up and spinning him 180 degrees. He helped save three more people — including an 85-year-old woman and a 9-month-old baby — with a boat, he said.

Then he could start counting his losses. He estimated the flood carried away 30 calves and almost as many cows, nearly $50,000 out of his pocket. It might be more.

Can you imagine the grief that these farming families are enduring right now?

Many of them are financially ruined and will never be able to go back to farming again.

Dave Eaton’s family has been farming the same plot of land for 152 years.  But now the Missouri River has swallowed his farm, and with much more flooding still to come, he anticipates that his farm with be underwater “all year”

The farm has been in his family 152 years. He was born there. He’s been thinking about what he’s learned about the Missouri’s upstream reservoirs and the mountain snowpack, and what it means for his land.

“It’s not like I’m new to the area,” he said. “My gut feeling is we’re going to be under water all year.”

And he is definitely not the only one that has had his year ruined.

Panowicz says that the hay and silage that were meant to feed his cattle this season were soaked “in 3 to 4 feet of water”

The hay and silage to feed his cattle are soaked after sitting in 3 to 4 feet of water.

Sand now covers much of the pastureland he uses to graze his herd of commercial Angus cows and purebred Charolais bulls.

And 40 of his recently born calves died in the flood.

So what is he supposed to do?

Some Nebraska ranchers will bravely try to rebuild, but for Panowicz it appears that the end has come

“I’ll probably sell the (remaining) cows and calves and get out of the cattle business,” said Panowicz, 65. “I’ve been around cows since the early 1970s.”

I could go on and on, but I think that you definitely get the point.

America’s farmers have been utterly devastated.  America’s cattle producers have been utterly devastated.  Food production is going to be way, way below expectations, and food prices are going to escalate dramatically in the coming months.  This is the kind of scenario that I have been warning about, and this crisis is going to continue to get worse as all the snow from one of the snowiest winters on record melts.  In Minnesota, there are still more than 20 inches of snow on the ground in some places, and all of that water has to go somewhere.

This is the biggest national crisis that has hit the United States in many years, but the mainstream media and millions of Americans that do not live in the affected areas still do not seem to get it.

Of course once food prices start getting painfully high at our supermarkets everyone will start complaining, but there will not be any easy solutions.

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

Government Warns Of Historic, Widespread Flooding “Through May” – Food Prices To Skyrocket As 1000s Of Farms Are Destroyed

We have never seen catastrophic flooding like this, and the NOAA is now telling us that there will be more major flooding for at least two more months.  On Thursday, the National Oceanic and Atmospheric Administration warned that “historic, widespread flooding” would “continue through May”.  More than 90 percent of the upper Midwest and Great Plains is currently covered by an average of 10.7 inches of snow, and all of that snow is starting to melt.  That means that we are going to transition from one of the worst winters in modern history to a flood season that has already taken an apocalyptic turn for farmers all across America.  At this moment, millions of acres of farmland are already underwater.  Thousands of farmers are not going to be able to plant crops this year, and thousands of other farmers that have been financially ruined by the floods will never return to farming again.  This is already the worst agricultural disaster in modern American history, and it is going to get a whole lot worse.

I posted an article about this crisis yesterday, and I am troubled by the fact that most Americans don’t seem to understand the gravity of what we are facing.

Millions of bushels of wheat, corn and soybeans have been destroyed by flood waters, hundreds of millions of dollars worth of livestock have been lost, and all of us will soon be feeling a lot more pain at the grocery store.

And this would be a complete and utter national nightmare even if the flooding was all over, but the NOAA just told us that we should expect more catastrophic flooding for the next two months

Our 2019 is out today: Historic, widespread flooding to continue through May. Find map, highlights video & more at https://bit.ly/2JqDsIG  @NWS

In fact, the NOAA is using the words “unprecedented flood season” to describe what is coming, and they are warning that “more than 200 million people” are at risk…

Forecasters warned the floods would likely to continue through May, and could worsen in the coming weeks.

“This is shaping up to be a potentially unprecedented flood season, with more than 200 million people at risk,” Ed Clark, director of the National Oceanic and Atmospheric Administration’s (NOAA) National Water Center in Tuscaloosa, Alabama, said on Thursday in the agency’s spring outlook.

Of all the natural disasters that we have seen in recent years, this is the biggest, and U.S. food production is going to be dramatically affected because many farmers will not be able to grow crops at all in 2019…

“The reality is this isn’t going to be over for a very long time,” Jorgenson said. “It took years after 2011 for people to come back. For me as a farmer, there are flooded acres here that to think that I’ll be able to plant a crop in 45 days is just virtually impossible.

And many farmers will never recover from this disaster at all.

According to one farmer in Iowa, somewhere around half of the farmers in his entire county will not be able to come back from this…

“I would say 50% of the farmers in our area will not recover from this,” Dustin Sheldon, a farmer in southwestern Iowa’s flood-devastated Fremont County near the swollen Missouri River, said this week.

I said it yesterday, and I will say it again.  This is the worst blow to U.S. agriculture that I have seen in my entire lifetime.

The amount of food that has just been lost is absolutely staggering.  Due to the trade war, farmers were storing more wheat, corn and soybeans than ever before, and now the floodwaters have destroyed much of what had been stored

As prices plummeted last year amid the ongoing trade fight, growers, faced with selling crops at a loss, stuffed a historic volume of grain into winding plastic tubes and steel bins. Some cash-strapped families piled crops inside their barns or outside on the ground.

Farmers say they are now finding storage bags torn and bins burst open, grain washed away or contaminated. Jeff Jorgenson, a farmer and regional director for the Iowa Soybean Association, said he has seen at least a dozen bins that burst after grains swelled when they became wet.

According to the U.S. Department of Agriculture, any wheat, corn or soybeans that are contaminated by flood waters must be destroyed.

I know that I shared the following quote yesterday, but in order to give you an idea of the scope of the losses we are looking at, I want to share it again

As of Dec. 1, producers in states with flooding – including South Dakota, Nebraska, Kansas, Minnesota, Iowa, Missouri, Wisconsin and Illinois – had 6.75 billion bushels of corn, soybeans and wheat stored on their farms – 38 percent of the total U.S. supplies available at that time, according to U.S. Department of Agriculture data.

And remember, the flooding is just getting started.

In just one county in Iowa, 1.8 million bushels of corn and soybeans have already been destroyed.  Nationwide, the losses are off the charts.

Needless to say, prices will be going way up at the grocery store, and they will keep going up for the rest of the year.

Sadly, even after the flood waters are gone the damage that has been done to our agricultural infrastructure will take years to repair

As the waters began to recede in parts of Nebraska, the damage to the rural roads, bridges and rail lines was just beginning to emerge. This infrastructure is critical for the U.S. agricultural sector to move products from farms to processing plants and shipping hubs.

The damage to roads means it will be harder for trucks to deliver seed to farmers for the coming planting season, but in some areas, the flooding on fields will render them all-but-impossible to use.

In Nebraska alone, hundreds of miles of rural roads have been completely washed out, and farmers such as Annette Bloom are having an extremely difficult time just getting to a main road

“We are having to travel three miles through pasture and cropland just to get out because our roads are gone,” she says. “And the corn fields are going to be devastating to get in and plant and get that going, because usually we’re planting within the next two weeks and it’s not going to happen.”

Many of America’s farmers will bravely keep going after this disaster, but for many others a financial breaking point has arrived.

Farm bankruptcies had already surged to the highest level since the last recession prior to all of this flooding, and now this crisis will end up driving many of them away from the profession for good.  The following comes from NBC News

Some farmers in Fremont County will probably not return to till their soil, many farmers here said.

“Lot of folks won’t be able to continue after this,” said Julius Schaaf, 66, who said 1,500 of his 4,000 acres were currently under water.

In the end, it is going to be a while before we know the full extent of the damage to America’s farms and our food supply, but all of the experts agree that it will be unprecedented.

Food prices are already high, but the truth is that this is as low as they are going to get.  Much less food will be produced in our heartland this year, and that will mean skyrocketing prices at our grocery stores.

And this is just one element of “the perfect storm” that is emerging.  Our society is starting to be shaken in many different ways, and 2019 is certainly shaping up to be a very “interesting” year.

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

The 11th Hour: 8 Examples Of Mainstream Media Sources Warning Us Of Imminent Economic Disaster

Are we on the verge of another great financial crisis, a devastating recession and a horrific implosion of the global debt bubble?  On my website I have been relentlessly warning my readers about the inevitable consequences of our very foolish actions, but now the mainstream media is beginning to sound just like The Economic Collapse Blog.  The coming crisis is so close now that a lot of them are starting to see it, and of course economic disaster is already a reality for much of the rest of the planet.  For years, the mainstream media told us that things would get better, and in a lot of ways we did see some improvement.  But now the tone of the mainstream media has become quite ominous, and that is definitely not a positive sign.  The following are 8 examples of mainstream media sources warning us of imminent economic disaster…

#1 Forbes: “Disaster Is Inevitable When America’s Stock Market Bubble Bursts”

As shown in this report, the U.S. stock market is currently trading at extremely precarious levels and it won’t take much to topple the whole house of cards. Once again, the Federal Reserve, which was responsible for creating the disastrous Dot-com bubble and housing bubble, has inflated yet another extremely dangerous bubble in its attempt to force the economy to grow after the Great Recession. History has proven time and time again that market meddling by central banks leads to massive market distortions and eventual crises. As a society, we have not learned the lessons that we were supposed to learn from 1999 and 2008, therefore we are doomed to repeat them.

The purpose of this report is to warn society of the path that we are on and the risks that we are facing.

#2 CNBC: “Tech stock sell-off could be just beginning if trade war with China worsens”

Congressional scrutiny of social media companies and fears of new regulation pummeled their stocks, but other tech names could also soon be vulnerable to a new round of selling pressure if President Donald Trump goes through with new tariffs on Chinese goods.

#3 Bloomberg: “Emerging-market rout is longest since 2008 as confidence cracks”

For stocks, it’s 222 days. For currencies, 155 days. For local government bonds, 240 days.

This year’s rout in emerging markets has lasted so long that it’s taken even the most ardent bears by surprise. Not one of the seven biggest selloffs since the financial crisis — including the so-called taper tantrum — inflicted such pain for so long on the developing world.

#4 CNN: “Emerging Markets Look Sick. Will They Infect Wall Street?”

Chinese stocks are is in a bear market. Turkey’s currency has collapsed. South Africa has stumbled into a recession. Not even an IMF bailout has stemmed the bleeding in Argentina.

The storm rocking emerging markets has its origins in Washington. Vulnerable currencies plunged as the US Federal Reserve steadily raised interest rates. And President Donald Trump’s trade crackdown added gasoline to the fire.

The trouble could spread, infecting other emerging markets or even Wall Street.

#5 The Motley Fool: “6 signs the next recession might be closer than we realize”

To be perfectly clear, trying to predict when recessions will occur is pure guesswork. Top market analysts have called for pullbacks in the market, unsuccessfully, in pretty much every year since the Great Recession ended. But the economic cycle doesn’t lie: recessions are inevitable. And in my estimation, we’re probably closer to the next recession than you realize.

How can I be so certain? Well, I can’t. Remember, I just noted there’s virtually no certainty when it comes to predicting when recessions will occur. There are, however, six warning signs that suggest a recession could be, in relative terms, around the corner.

#6 Forbes: “U.S. Household Wealth Is Experiencing An Unsustainable Bubble”

Since the dark days of the Great Recession in 2009, America has experienced one of the most powerful household wealth booms in its history. Household wealth has ballooned by approximately $46 trillion or 83% to an all-time high of $100.8 trillion. While most people welcome and applaud a wealth boom like this, my research shows that it is actually another dangerous bubble that is similar to the U.S. housing bubble of the mid-2000s. In this piece, I will explain why America’s wealth boom is artificial and heading for a devastating bust.

#7 Savannah Now: “Global debt soars, along with fears of crisis ahead”

“We were supposed to correct a debt bubble,” said David Rosenberg, chief economist at Gluskin Sheff, a wealth-management firm. “What we did instead was create more debt.”

#8 CNBC: “The emerging market crisis is back. And this time it’s serious”

But markets are feeling a sense of deja vu. Blame it on a stronger dollar, escalating tensions since President Donald Trump came to power, worries over a full-fledged trade war with China or rising interest rates in the U.S., this time around the crisis seems to have entered a new phase.

The damage is far more widespread. The crisis has engulfed countries across the globe — from economies in South America, to Turkey, South Africa and some of the bigger economies in Asia, such as India and China. A number of these countries are seeing their currency fall to record levels, high inflation and unemployment, and in some cases, escalating tensions with the United States.

I don’t think that we have seen such ominous declarations from the mainstream media since the last global financial crisis in 2008.

And the mainstream media is not alone.  Yesterday, I discussed the fact that tech executives on the west coast are setting up luxury survival bunkers in New Zealand in order to prepare for what is ahead.

They all know what is coming, and they also know that it is approaching very rapidly.

This chapter in American history is not going to end well.  On some level, all of us understand this.  Storm clouds have been building on the horizon for quite some time and the warning signs are all around us.

Our day of reckoning may have been delayed, but it was not canceled.  America has a date with destiny, and it is going to be exceedingly painful.

This article originally appeared on The Economic Collapse Blog.  About the author: Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

Bankers And Tech Executives Know The Collapse Of Society Is Coming And Are Feverishly Prepping For It

While most of the general population has been lulled into a false sense of security, bankers and tech executives are spending millions upon millions of dollars to prepare for the collapse of society.  Do they know something that the rest of us do not?  Apparently talk of doomsday scenarios has become very popular at Silicon Valley dinner parties, and as you will see below, having a plan to escape to New Zealand appears to be a very popular “Plan B” among the tech elite.  Of course this is not just a west coast phenomenon.  Many bankers on the east coast have similar concerns and have also been developing contingency plans.  Ladies and gentlemen, they know what is coming and they are feverishly getting prepared for it.  In fact, J.P. Morgan Chase’s head quant just publicly declared that the next financial crisis is going to result in “social unrest not seen in the U.S. in half a century”.  The following comes from CNBC

Sudden, severe stock sell-offs sparked by lightning-fast machines. Unprecedented actions by central banks to shore up asset prices. Social unrest not seen in the U.S. in half a century.

That’s how J.P. Morgan Chase‘s head quant, Marko Kolanovic, envisions the next financial crisis. The forces that have transformed markets in the last decade, namely the rise of computerized trading and passive investing, are setting up conditions for potentially violent moves once the current bull market ends, according to a report from Kolanovic sent to the bank’s clients on Tuesday. His note is part of a 168-page mega-report, written for the 10th anniversary of the 2008 financial crisis, with perspectives from 48 of the bank’s analysts and economists.

If you visit my website on a regular basis, you already know that I have been warning that rising levels of anger and frustration are rapidly eroding the thin veneer of civilization that we all take for granted on a daily basis.

Back in 1968, the Vietnam war was in full swing, a presidential election was approaching and two of the most prominent leaders in America had just been assassinated.  Chaos erupted in the streets as a result, and Kolanovic is absolutely convinced that we will see a similar eruption soon

Kolanovic closes his report on an ominous note: “The next crisis is also likely to result in social tensions similar to those witnessed 50 years ago in 1968.”

That year saw the peak of both the Vietnam War and anti-war movement and the assassinations of Martin Luther King Jr. and Sen. Robert F. Kennedy. Today, the internet and social media are helping to polarize groups, and events including the U.S. election and Brexit show tensions that will probably worsen in the next crisis, he said.

When society begins to come apart at the seams, many among the elite do not plan to stick around for the day of reckoning.

A Bloomberg article that was just published entitled “The Super Rich of Silicon Valley Have a Doomsday Escape Plan” has some amazing revelations.  According to the article, over the past two years seven “Silicon Valley entrepreneurs” have purchased survival bunkers from a company in Texas and shipped them to locations in New Zealand…

In recent months, two 150-ton survival bunkers journeyed by land and sea from a Texas warehouse to the shores of New Zealand, where they’re buried 11 feet underground.

Seven Silicon Valley entrepreneurs have purchased bunkers from Rising S Co. and planted them in New Zealand in the past two years, said Gary Lynch, the manufacturer’s general manager. At the first sign of an apocalypse — nuclear war, a killer germ, a French Revolution-style uprising targeting the 1 percent — the Californians plan to hop on a private jet and hunker down, he said.

It would be weird enough if one wealthy individual did this, but the count is now up to seven.

So why have they chosen New Zealand?

Well, it is because New Zealand doesn’t have any enemies, English is spoken there, it is very stable, and it is very far away from everything else.

Plus, the country allows wealthy individuals “to essentially buy residency”

The nation allows emigres to essentially buy residency through investor visas, and rich Americans have poured a fortune into the country, often by acquiring palatial estates.

Billionaire hedge-fund honcho Julian Robertson owns a lodge overlooking Lake Wakatipu in Queenstown, the South Island’s luxury resort destination. Fidelity National Financial Inc. Chairman Bill Foley has a homestead in the Wairarapa region, north of Wellington, and Titanic director James Cameron bought a mansion nearby at Lake Pounui.

There has been a significant exodus of wealthy Americans to New Zealand in recent years, and once things start getting really bad there will be a steady stream of private jets taking off from locations in the U.S. and landing in that beautiful nation.

Of course not everyone plans to leave.  Luxury survival bunkers are also being constructed all over the heartland of America, but they aren’t cheap.

For example, it was being reported that a “penthouse” inside the Survival Condo in Kansas was selling for more than four million dollars

Another shelter for the ultra-wealthy is the Survival Condo in Kansas.

It was designed to withstand a nuclear blast or nature’s worst, but is far cry from what you might expect an underground shelter to look like.

There is a cinema, a swimming pool with a water slide, a spa, a lounge, a gym and an indoor shooting range to keep occupants entertained.

But survival comes at a price.

Last year, it was reported that plush 3,600sq ft penthouses within the shelter – a former missile silo – were selling for $4.5m (£3.6m).

Needless to say, anyone outside of the top 1 percent is not going to make it into the Survival Condo.

And in order to keep the rest of us out, it has an armory that is “stocked with guns and ammo”

Additionally, an armory stocked with guns and ammo is in place in case of an attack by non-members, and is also available for owners to practice.

The bunker is able to sustain its owners for up to five years, by raising tilapia in fish tanks and growing hydroponic vegetables under lamps.

The elite can see what so many of the rest of us can also see.

Our future looks very troubling, and it appears to be wise to get prepared for what is coming in advance.

Unfortunately, the rest of us don’t have the money to buy a luxury survival bunker or to fly to New Zealand on a private jet.  Money may not be able to buy happiness, but it can buy a pretty good escape plan.

This article originally appeared on The Economic Collapse Blog.  About the author: Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

5 Signs That Global Financial Markets Are Entering A Bear Market, And 11 Ways That You Can Get Prepared For The Chaos That Is Coming…

We haven’t seen carnage like this in the global financial marketplace in quite some time.  On Wednesday, U.S. stocks were down some, but things were much, much worse around the rest of the world.  Global banking stocks are plunging, emerging market stocks are cratering, and emerging market currencies continue their stunning decline.  This represents a dramatic change from the relative stability that we have seen throughout most of 2018.  It is almost as if someone flipped a switch once the month of August began, and the shakiness of global financial markets has many investors wondering what trouble fall will bring.  What we are witnessing right now is not a full-blown panic yet, but it definitely has the potential to turn into one.

The term “bear market” is being thrown around a lot lately, but a lot of people don’t understand what a “bear market” actually is.

A bear market is generally considered to be when we see a decline of 20 percent or more from the 52-week high, and after the carnage of this past week a lot of those thresholds are now being crossed.

It would probably be too early to call this a “global stock market crash”, but we are well on the way to getting there.  The following are 5 signs that global financial markets are entering a bear market…

#1 Global stocks have now fallen beneath all key moving averages.  Those key moving averages are important psychological thresholds for investors, and if we have a few more days like Wednesday we could see global financial markets go into full panic mode.

#2 European banking stocks have now officially entered a bear market, and all major European stock indexes are now red for the year.

#3 Global banking stocks are down a whopping 23 percent from the peak established earlier this year, and that means that they have officially entered a bear market.

#4 Emerging market stocks have fallen 20 percent from the peak, and that means that they are also now in a bear market.

#5 When demand for industrial metals falls, that indicates that an economic slowdown is coming.  On Wednesday, prices for industrial metals fell to their lowest level in almost a year, and “Dr. Copper officially entered a bear market.

If the financial carnage continues (and that is a big “if”), this could be the beginning of another financial crisis like we experienced in 2008, and that would almost certainly mean a crippling global recession.

And of course once the next global recession begins, it is likely to be more painful than we have ever seen before in modern history, because the global debt bubble is far larger than it has ever been before.

We live at a time of great global instability, and there are so many ominous warnings about our future.  A lot of people reach out to me for advice on how to get prepared for what is coming, and I hope to share quite a few tips in future articles.

Today, I would like to share with you 11 tips that my good friend Ray Gano shared with his readers in his most recent article

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1 – Get Out of Debt: The old saying, “the borrower is the servant of the lender”, is so incredibly true.  The key to insulating yourself from an economic meltdown is to become as independent as possible, and as long as you are in debt, you simply are not independent.  You don’t want a horde of creditors chasing after you when things really start to get bad out there.

2 – Find New Sources of Income: With the birth of The IRA, there simply is no such thing as job security anymore.  If you are dependent on a job (“just over broke”) for 100% of your income, you are in a very bad position.  There are thousands of different ways to make extra money.  What you don’t want to do is to have all of your eggs in one basket.  One day when the economy melts down and you are out of a job are you going to be destitute or are you going to be okay?

IF you need some ideas on what you can do, contact me and I can help.

3 – Reduce Your Expenses: Many Americans have left the rat race and have found ways to live on half or even on a quarter of what they were making previously.  It is possible – if you are willing to reduce your expenses.  In the future times are going to be tougher, so learn to start living with less today.

4 – Learn To Grow Your Own / Supplement Your Food: Today the vast majority of Americans are completely dependent on being able to run down to the supermarket or to the local Wal-Mart to buy food.  But what happens when the U.S. dollar declines dramatically in value and it costs ten bucks to buy a loaf of bread?  If you learn to grow your own food (even if is just a small garden) you will be insulating yourself against rising food prices. Another thing is to learn to hunt and fish. There is “low cost” food out there for the taking, you just need to assert yourself. (Low Cost = you still need to pay for hunting and fishing licenses.)

5 – Make Sure You Have A Reliable Water Supply: Water shortages are popping up all over the globe.  Water is quickly becoming one of the “hottest” commodities out there.  Even in the United States, water shortages have been making headline news recently.  As we move into the future, it will be imperative for you and your family to have a reliable source of water.  Some Americans have learned to collect rainwater and many others are using advanced technology such as atmospheric water generators to provide water for their families.  But whatever you do, make sure that you are not caught without a decent source of water in the years ahead.

6 – Buy Land: This is a tough one, because prices are high depending on where you are looking. If you are able to buy land when prices are low, that is going to insulate you a great deal from the rising housing costs that will occur when the U.S dollar does totally go into the tank.

7 – Buy Precious Metals: this is a no brainer, but it still amazes me how many people are not doing this. Right now silver is sitting at $14.41. That is a very affordable price and a price that everyone can afford.  We must start “paying ourselves first” and start pulling in these sort of assets.

The best place that I recommend is Renaissance Precious Metals. It is who I purchase from.

8 – Get Partially Off The Grid: An increasing number of Americans are going “off the grid”.  Essentially what that means is that they are attempting to operate independently of the utility companies.  In particular, going “off the grid” will enable you to insulate yourself from the rapidly rising energy prices that we are going to see in the future.  If you are able to produce energy for your own home, you won’t be freaking out like your neighbors are when electricity prices triple someday.

9 – Store Non-Perishable Supplies: Non-perishable supplies are one investment that is sure to go up in value.  Not that you would resell them.  You store up non-perishable supplies because you are going to need them someday.  So why not stock up on the things that you are going to need now before they double or triple in price in the future?  Your money is not ever going to stretch any farther than it does right now.

EXAMPLE – Toilet Paper

10 – Develop Stronger Relationships: Americans have become very insular creatures.  We act like we don’t need anyone or anything.  But the truth is that as the we see a socio-economic melt down we are going to need each other.  It is those that are developing strong relationships with family and friends right now that will be able to depend on them when times get hard.

11 – Get Educated And Stay Flexible: When times are stable, it is not that important to be informed because things pretty much stay the same.  However, when things are rapidly changing it is imperative to get educated and to stay informed so that you will know what to do.  The times ahead are going to require us all to be very flexible, and it is those who are willing to adapt that will do the best when things get tough.

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Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

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