Every year, it has been my tradition to write an article about the mini-riots that erupt in retail stores all around the country on Black Friday.  This year things were a bit calmer because so many stores opened up on Thanksgiving itself, but there was still plenty of chaos.  For example, in the video posted below you can see women viciously fighting one another over discounted lingerie and underwear…

But instead of launching into another diatribe about how we are committing national economic suicide by buying hundreds of billions of dollars of foreign-made goods with money that we do not have, I want to focus on what is coming next.

You see, I believe that in the not too distant future many of us will be wishing for the days when the debt-fueled U.S. economy was healthy enough for people to be wrestling with one another on the floor over good deals in our retail establishments.

The next great financial crash (which many have been anticipating for years) is rapidly approaching.  So many of the same things that happened last time are happening again.  As I noted above, this includes a crash in the price of oil.

In the months prior to the last stock market collapse, the price of oil began plummeting dramatically in the summer of 2008.  This was an “early warning signal” that something was deeply amiss in the financial world…

Many people assume that a lower price for oil is good for the economy, but the exact opposite is actually true.  The oil industry has become absolutely critical to the U.S. and Canadian economies.  And in recent years, the “shale oil boom” has been one of the only bright spots for the United States.  If the shale oil industry starts to fail because of lower prices, a lot of the boom areas all over the nation are going to go bust really quickly and a lot of the financial institutions that were backing these projects are going to feel an immense amount of pain.

Unfortunately for us, the “shale oil revolution” simply does not work at 80 dollars a barrel.

And it certainly does not work at 70 dollars a barrel.

As I write this, U.S. crude is sitting at about 66 dollars a barrel due to OPEC’s recent decision to not cut output.

That is the lowest price for U.S. crude since September 2009.

So just like we saw during the summer of 2008, crude oil prices are collapsing once again.  The chart below comes from the Federal Reserve, but it is a few days out of date.  Now that the price of crude is down to about 66 dollars, you have to imagine the price actually going below the bottom of this chart…

Needless to say, this price collapse is having a huge impact on the stock prices of oil companies.  The following information about what happened in the markets on Friday comes from Business Insider…

Here were some of the biggest losers on Friday:

• BP (BP), down 5%
• Royal Dutch Shell (RDS.A), down 6%
• Total (TOT), down 5%
• Statoil (STO), down 14%
• Exxon Mobil (XOM), down 5%
• ConocoPhillips (COP), down 9%
• Marathon Oil (MRO), down 13%
• Occidental Petroleum (OXY), down 7%
• Anadarko Petroleum (APC), down 14%
• Linn Energy (LINE), down 13%
• Whiting Petroleum (WLL), down 28%
• Oasis Petroleum (OAS), down 32%
• Kodiak Oil & Gas (KOG), down 28%

And this list goes on.

But this could just be the beginning of the oil price declines.

The most powerful oil official in Russia believes that the price of oil could fall below $60 next year…

Russia’s most powerful oil official Igor Sechin said in an interview with an Austrian newspaper that oil prices could fall below $60 by mid-way through next year.

Sechin, chief executive of Rosneft, Russia’s largest oil producer, also said U.S. oil production would fall after 2025 and that an oil market council should be created to monitor prices, the same day the OPEC cartel met in Vienna and left its output targets unchanged.

“We expect that a fall in the price to $60 and below is possible, but only during the first half, or rather by the end of the first half (of next year),” Sechin told the Die Presse newspaper.

And one oil industry analyst just told CNBC that he believes that the price of oil could ultimately plunge as low as $35 a barrel…

“When you look at the second half of 2015, that’s when you see oil beginning to dwarf demand by about a million, a million and a half barrels a day,” he said. “Thirty-five dollars is a possibility if they don’t get an agreement next spring because that’s when the oil really starts to build and you can have a billion barrels of oil with really no place to put it.”

This comes at a time when there are already a whole host of signs that the global economy is slowing down.  Three of the ten largest economies on the planet have already slipped into recession, and the economic nightmare over in Europe just continues to get even worse.  In fact, we just learned that the unemployment rate in Italy has shot above 13 percent for the first time ever recorded.

In addition, it is important to remember that the “real economy” in the United States is in far worse shape than it was just prior to the last financial crash.  Just consider these numbers…

-In the United States today, the number of payday lending locations is greater than the number of McDonald’s and the number of Starbucks.

-One recent survey found that about 22 percent of all Americans have had to turn to a church food panty for assistance.

-This year, almost one out of every five households in the United States celebrated Thanksgiving on food stamps.

-The rate of government dependence in America is at an all-time high and approximately 60 percent of U.S. households get more in transfer payments from the government than they pay in taxes.

-According to a report that was just released by the National Center on Family Homelessness, the number of homeless children in the U.S. has soared to a new all-time record high of 2.5 million.

If things are this bad now, what are they going to look like after the next great financial crash?

And without a doubt, the next crash is coming.  Hopefully we have at least a couple more months of relative stability, but many experts are now urgently warning that time is quickly running out.

By this time next year, Black Friday may look a whole lot different than it does today.

The post Did We Just Witness The Last Great Black Friday Celebration Of American Materialism? appeared first on The Economic Collapse.

The amount of merchandise that is purchased on Black Friday is absolutely staggering.  For example, just consider how much stuff is sold at Wal-Mart alone…

Wal-Mart said it recorded more than 10 million register transactions between 6 p.m. and 10 p.m. Thursday in its stores and nearly 400 million page views that day on walmart.com. It sold 2.8 million towels, 2 million televisions, 1.4 million tablets, 300,000 bicycles and 1.9 million dolls. Big-ticket electronics like big-screen TVs and new videogame consoles were among the top sellers.

But each and every year, Black Friday also seems to bring out the worst in many people, and this year was certainly no exception.  The following are just a few of the national headlines about the rioting and the violence that we witnessed…

-“Holiday shopping season kicks off with fights, arrests”

-“Violence flares as shoppers slug it out for best Black Friday deals”

-“Watch Screaming Mobs Fight Over Televisions At Wal-Mart”

-“Two Arrested After Stabbing Over Parking Space At Wal-Mart”

-“Rialto Walmart Thanksgiving brawl sends one police officer to hospital”

-“Walmart Ejects Customer For Filming Violent ‘Black Thursday’ Mobs”

-“Cops: Shoplifting suspect shot after dragging officer”

And sometimes the violence extends out into the parking lots and into the surrounding neighborhoods.  In Las Vegas, a man that was carrying a big-screen television home from Target was shot in the leg…

According to police, a man purchased a big-screen television from the Target store near Flamingo Rd. and Maryland Pkwy. While he was walking to a nearby apartment complex, a man approached and fired a warning shot, causing the victim to drop the television, police said.

Officers tell 8 News NOW the gunman then took the television to a nearby car that was waiting, where a second man helped the gunman load the TV into the car.

The victim approached the two men and tried to get the television back. That prompted the gunman to fire several more rounds, shooting the victim in the leg.

Every year I go over to YouTube to check out the madness that breaks out on Black Friday night all over the nation.  Posted below is the best compilation video from Black Friday that I could find.  In particular, I love how this video compares American shoppers to zombies…

And there is one more video that I wanted to share with you.  In this video, activist Mark Dice dresses up like Santa Claus and mocks Black Friday shoppers for being “parasites” and for ruining Thanksgiving…

Meanwhile, as retail stores all over America actively encourage this zombie-like behavior, police are actually cracking down on other groups of Americans that are actively trying to make this country a better place.  For example, a Christian group in Lake Worth, Florida was kicked out of a public park for trying to feed the homeless on Thanksgiving.  Of course this kind of thing happens all the time.  In fact, dozens of major cities all over the country have now passed laws that make it illegal to feed the homeless.  For much more on this, please see my previous article entitled “One Lawmaker Is Literally Smashing The Belongings Of The Homeless With A Sledgehammer“.

At the beginning of this article, I stated that those who go shopping on Black Friday “are actively participating in the destruction of the economic infrastructure of the United States”.

How could that possibly be?

Aren’t they helping the economy by spending their money?

Actually, it isn’t that simple.

Just think about it for a moment.  Where are most of the “advertised specials” that people go crazy over on Black Friday actually made?

If you guessed “China”, you would be correct.  In fact, it is very difficult to find any “Black Friday specials” that are actually made in the United States.

When you buy stuff made in China, you support workers and businesses in China.  As I mentioned in a recent article, the U.S. economy loses approximately 9,000 jobs for every 1 billion dollars of goods that are imported from overseas.

Overall, the U.S. has run a total trade deficit with the rest of the world of more than 8 trillion dollars since 1975.

So when you look around and see lots of unemployed people, it should not be a surprise to you.

Right now, the labor force participation rate is at a 35-year-low and more than 102 million working age Americans do not have a job.  That number has increased by 27 million just since the year 2000.

Because the American people are not supporting American businesses, our formerly great manufacturing cities are being transformed into rotting, festering hellholes.  Just take a look at Detroit.  At one time Detroit had the highest per capita income in the entire nation, but now it is a dying, bankrupt ghost town.

And of course this is happening to manufacturing cities all over the nation.  Since 2001, more than 56,000 manufacturing facilities in the U.S. have permanently shut down and we have lost millions upon millions of good paying manufacturing jobs.

Back in the 1980s, more than 20 percent of the jobs in the United States were manufacturing jobs.  Today, only about 9 percent of the jobs in the United States are manufacturing jobs.

Good job America.  And the following are some more facts from one of my previous articles about how our massively bloated trade deficit is absolutely killing our economy…

-There are less Americans working in manufacturing today than there was in 1950 even though the population of the country has more than doubled since then.

-Back in 1950, more than 80 percent of all men in the United States had jobs.  Today, less than 65 percent of all men in the United States have jobs.

-When NAFTA was pushed through Congress in 1993, the United States had a trade surplus with Mexico of 1.6 billion dollars.  By 2010, we had a trade deficit with Mexico of 61.6 billion dollars.

-Back in 1985, our trade deficit with China was approximately 6 million dollars (million with a little “m”) for the entire year.  In 2012, our trade deficit with China was 315 billion dollars.  That was the largest trade deficit that one nation has had with another nation in the history of the world.

-According to the Economic Policy Institute, America is losing half a million jobs to China every single year.

-According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.

Unfortunately, most Americans never stop to think about what happens when we buy stuff from China.

When we buy stuff from them, our money goes over there.

At this point, they are sitting on trillions of our dollars and they have purchased more than a trillion dollars of our debt.

Up until now, Chinese demand for our dollars has helped keep the value of the U.S. dollar artificially high.  This is one of the reasons why Wal-Mart can sell you those Chinese imports so inexpensively.

And up until now, Chinese demand for our debt has helped keep long-term interest rates artificially low.  So the U.S. government has been able to borrow money at ridiculously low interest rates and U.S. home buyers have been able to get mortgage rates that are well below the real rate of inflation.

But no irrational state of affairs ever lasts indefinitely, and the Chinese recently announced that they are going to quit stockpiling U.S. dollars.  Many analysts believe that this means that the Chinese will soon stop stockpiling U.S. debt as well.

So enjoy those super cheap “Black Friday specials” while they last.  That era is rapidly coming to an end.

Now that the Chinese have stolen tens of thousands of our businesses, millions of our jobs and trillions of our dollars, perhaps they feel that there is not much more looting to be done.  Our economic infrastructure has been essentially gutted at this point.  Moving forward, China can afford to let the value of the U.S. dollar fall and the value of their own currency rise because even Barack Obama admits that “those jobs are never coming back”.

And every single American that went shopping on Black Friday and bought Chinese-made goods actively participated in the ongoing destruction of the U.S. economy.

Good job America.  You are a nation that is utterly consumed by materialism and greed, and you don’t even realize that you are destroying yourself with your own foolishness.

The post Black Friday: A Shameful Orgy Of Materialism For A Morally Bankrupt Nation appeared first on The Economic Collapse.

When it comes to materialism in America, there are outrageous examples all around us, but one of my favorite examples is the “Rich Kids of Instagram“.  It is a Tumblr blog of photos from Instagram of young Americans showing off how they are enjoying the vast wealth of their parents.  The following is how the Washington Post describes the blog….

The controversial new Tumblr is a collection of snapshots from the photo-sharing site that depicts the children of wealth and privilege — summering in the Hamptons, lounging on yachts and posing by their luxury cars.

One does a back-flip out of a helicopter near St. Tropez. Others snap pictures of their restaurant bills — allegedly paying thousands of dollars for lobster, champagne and high-end liquor.

In the warm patina of the Instagram, the youngsters appear to be living over-the-top lifestyles — and enjoying every moment.

“Our everyday is better than your best day,” reads one caption, a bit tauntingly. And, “Do you have a horse in your backyard? Didn’t think so.”

But just because you have a horse on your property does that make your life better than the rest of our lives?

Of course not.

Wealth does not equal happiness.

Unfortunately, however, most Americans have totally bought into this lie.

Most Americans believe that more money equals a better life.

In response to “the Rich Kids of Instagram”, the Huffington Post recently put together a piece entitled “the Rich Cats of Instagram” that features photos of cats as they “model upscale accessories, lounge with bottles of champagne, sail on yachts and ponder life while relaxing atop piles of money.”

Of course a lot of those pictures are quite funny, but they also reveal a deep truth about our society.

We have spent our lives chasing after the almighty dollar thinking that it will make us happy.  Study after study has shown that we tend to link wealth and happiness.  The following is from a recent NBC News article about one of those studies….

Many parents already know older children can be materialistic. Some tweens not only want the latest games and clothes, but also think owning these things will bring them happiness, friends and popularity. And marketers are eager to get them to buy: Tweens spend $28 billion a year, not including the more than $200 billion their parents spend on them, according to market research company C+R Research.

But even though we have an incredibly high standard of living compared to most of the rest of the world, are most of us actually happy?

No way.  In fact, Americans take more anti-depressants than anyone else on the planet.

It is really easy to get caught up in materialism though.  Let me share an example from my own life.

Several months ago our old truck completely died.  Instead of pouring thousands of more dollars into fixing it, we decided that we would get another used truck.

So the other day I stopped by a dealership while my wife was grabbing some things from Home Depot.  The salesperson started showing me some of the used trucks on the lot, but after a while I suggested that he show me some of the new trucks that were sitting on the other side of the lot.

Before I knew it, I was sitting in the most expensive truck on the lot and he was showing me all of the cool features it had.

And I have to admit – for a few moments there I was really enamored with that truck.  It was the coolest truck that I had ever seen in my life.

Of course my wife and I don’t need a truck like that.  We only need to haul stuff around a few times a month.  And we certainly do not need the amount of debt that it would take to buy such a truck.

But for a few moments there I really wanted it.  The pull of materialism can be very strong.

So would that truck have “changed my life” or brought me lasting happiness?

Of course not.

It would have brought some thrills for the first couple of days, but after a while it would just be sitting in the garage taking up space just like any other truck would.

So did I end up buying a truck?

Not yet.  But we need one soon.  My wife has been without a truck for quite a few months now and she is getting impatient.

But whether we get a nice used truck or a used truck that has one foot in the grave, it really isn’t going to change our lives much.

In the end, our lives should not be defined by what we own or by how much money we have in the bank.

But how do we refer to ourselves in this day and age?

The American people are called “consumers” and the truth is that we consume far more than anyone else on the globe does.

Just look at our eating habits.  Of all the major industrialized nations, America is the most obese.

The next time you go into a store, take note of how many people are overweight.

It has not always been this way.  Back in 1962, only 13 percent of all Americans were obese.

But now overeating is a national sport.  At this point, approximately 36 percent of all Americans are obese, and it is being projected that number will rise to 42 percent by 2030.

While we are gorging ourselves with food, what else do we like to do?

That’s right – we love to watch television.  In fact, the average American watches 28 hours of television every single week.

We have become completely and totally addicted to entertainment, and we have become trained to be constantly “plugged in” to something.

Our lives have become all about constantly feeding our greed and our selfishness.  In fact, that is a major reason for the breakdown of the family in America.  We tend to view marriage as a temporary condition that can be quickly discarded when it no longer makes us happy.

Sadly, the United States has the highest divorce rate in the world by a very wide margin at this point.

In addition, more Americans than ever are putting off marriage these days.  Young Americans are being told that “an education” and “a career” are more important.  According to the Pew Research Center, only 51 percent of all American adults are currently married.  Back in 1960, 72 percent of all adults in America were married.

As a result of these factors, we are an incredibly lonely nation.  Today, the United States has the highest percentage of one person households on the entire globe.

In order to fill the void, the American people turn to things that will numb the pain.  American use more legal drugs than anyone else on the planet and they also use more illegal drugs than anyone else on the planet.

We have more “stuff” than any other society in the history of the world has ever had, but it has not made us happy.

And how did we pay for all of this?

We paid for a lot of this with debt.  In fact, we have accumulated the biggest mountain of debt in the history of the world.

During my lifetime, the debt of the U.S. government has gotten more than 30 times larger.  For much more on this, please see my previous article entitled “27 Things That Every American Should Know About The National Debt“.

But the federal government is not the only one with a debt problem.  The truth is that our entire society is absolutely drowning in debt.

Over the past 50 years, the total amount of debt in the U.S. has grown from less than a trillion dollars to nearly 55 trillion dollars….

We have used massive amounts of debt in an attempt to feed our endless greed and materialism and we have gotten ourselves into a whole lot of trouble.

This is one of the reasons why I write.  I want people to understand how bad things have really gotten.

Thanks to our foolishness, our economy has been declining, it is going to continue to decline, and a massive economic collapse is coming.

Some people believe that this is a message of “doom and gloom”, but that is not the case at all.

Sticking our heads in the sand and pretending that somehow everything is going to be just fine is not going to do anyone any good.

Instead, I believe that warning people about the coming economic collapse is a message of hope.

There is hope in understanding what is happening, developing a plan to deal with it, and preparing yourself and your family for the storm that is coming.

It is the people that are ignoring all of the warnings that are going to be in real trouble.

Millions upon millions of people will be absolutely blindsided by what is coming.  Many will give in to total despair once they realize that their prosperity is gone and they have done nothing to prepare for what they are now facing.

My hope is that the information that I write about will be shocking enough that it will wake people up and motivate them to get prepared so that they can handle the incredibly challenging years that are ahead.

And the truth is that our lives should not be about our money and our stuff anyway.

Your possessions are just temporary.  None of them are going to last forever and you certainly cannot take them with you when you die.

Even though our economy has had some rough times, we still have a higher standard of living than 99 percent of the humans that have ever lived on this planet have had.

You would think that would be enough for us.

But it isn’t.  We have hoarded our wealth and we have lived in luxury and self-indulgence.

When our debt-fueled prosperity disappears, most Americans are not going to know how to handle it.

Most Americans will believe that their lives are “over” at that point.

But those that are not caught up in materialism and that have prepared for what is ahead will understand that the next chapters of their lives can be the greatest chapters of all.

The post Is America The Most Materialistic Society In The History Of The World? appeared first on The Economic Collapse.