Elizabeth Warren Is Warning That An “Economic Crash” Is Coming

Democratic presidential candidate Elizabeth Warren is sounding the alarm.  In an opinion piece that she put out on Monday, she boldly warned that an “economic crash” is coming.  Actually, much of her article sounds like it could have come directly from the pages of the Economic Collapse Blog, and her analysis of the current state of the U.S. economy was right on the money.  Of course her proposed “solutions” are completely and totally nuts, and we will discuss that later in the article.  But it is quite remarkable that a woman that has a really, really good chance of becoming the next president of the United States is saying so many of the exact same things that I have been saying.  For example, just consider this paragraph

When I look at the economy today, I see a lot to worry about again. I see a manufacturing sector in recession. I see a precarious economy that is built on debt — both household debt and corporate debt — and that is vulnerable to shocks. And I see a number of serious shocks on the horizon that could cause our economy’s shaky foundation to crumble.

Everything that she said there is true.  The manufacturing sector is definitely slowing down, and without a doubt U.S. households are drowning in debt.

In another paragraph, Warren elaborated on the unprecedented debt problems that U.S. families are currently facing

A generation of stagnant wages and rising costs for basics like housing, child care, and education have forced American families to take on more debt than ever before. The student debt load has “more than doubled since the financial crisis.” American credit card debt matches its 2008 peak. Auto loan debt is the highest it has ever been since we started tracking it nearly 20 years ago, and a record 7 million Americans are behind on their auto loans — many of which have similar abusive characteristics as pre-crash subprime mortgages. 71 million American adults — more than 30% of the adults in the country — already have debts in collection. Families may be able to afford these debt payments now, but an increase in interest rates or a slowdown in income could plunge families over a cliff.

That is a fantastic paragraph, and once again everything that she said there is completely accurate.

Today, 59 percent of Americans are living paycheck to paycheck, and even a mild recession would be absolutely disastrous for tens of millions of American families.  During the coming recession we are likely to see debt defaults go through the roof, and Warren has correctly identified how vulnerable we are right now.

And she also accurately detailed the problems that the U.S. manufacturing sector is facing

Despite Trump’s promises of a manufacturing “renaissance,” the country is now in a manufacturing recession. The Federal Reserve just reported that the manufacturing sector had a second straight quarter of decline, falling below Wall Street’s expectations. And for the first time ever, the average hourly wage for manufacturing workers has dropped below the national average.

Of course it isn’t just U.S. manufacturing that is struggling right now.  We haven’t seen global manufacturing numbers this bad since the last financial crisis, and this is something that I detailed in a previous article.

In addition, it appears that we are about to get confirmation that we have now entered an “earnings recession”.  The following comes from USA Today

Yet with second-quarter earnings season underway, analysts are nervously waiting to see if the final results will deliver a second straight quarterly drop in corporate profits. Those surveyed by FactSet reckon the earnings of  S&P 500 companies declined 1.9% in the April-June period from a year earlier. That’s based on a blend of their pre-earnings season estimate and actual results of the 16% of companies reporting so far.

Why the concern over back-to-back declines?

Two consecutive quarterly decreases would represent an earnings recession, which typically – but not always – foreshadows an economic recession within a year or two. Companies whose profits are squeezed tend to pull back hiring and investment.

Clearly we are facing some very serious economic challenges.

So what does Warren want to do to fix things?

Well, apparently she believes that everything will be just fine if we raise the minimum wage, spend a lot more money, and give away lots of free stuff

We can raise incomes by increasing the minimum wage to $15 an hour, strengthening unions, ensuring that women of color get the wages they deserve, and empowering workers to elect at least 40% of board members at big American corporations. We can reduce costs and slash household debt by cancelling up to $50,000 in student loan debt for 95% of people who have it, bringing down the cost of rent, providing universal affordable child care and early education for all our kids ages 0–5, and making tuition free at every public technical school, two-year college, and four-year college.

Is she insane?

Seriously, where does she plan to get the money to fund her wacky proposals?  At this point we are already 22 trillion dollars in debt, and a “compromise” deal was just reached in Washington that will greatly accelerate the pace at which our national debt is increasing.

The national debt is already an existential threat to the future of our nation, and Warren’s proposals would cost us trillions more.

So where does she plan to get that kind of cash?  Is she going to tax all of us into oblivion?

Spending money that we do not have and the socialist economic policies of both major political parties are two of the biggest reasons why we are currently in such a horrible mess.  Warren’s “solutions” would only greatly compound our problems.

Sadly, our leaders are a reflection of who we are as a nation, and at this moment a big chunk of the population wants Elizabeth Warren.

A CBS News poll that was just released found that Joe Biden is still leading the race for the Democratic nomination, but the race has greatly tightened.  Biden was at 25 percent in the survey, but Warren was a close second at 20 percent.  Biden’s campaign has been faltering in recent weeks, while Warren’s campaign has been really surging.  In the end, it wouldn’t be a surprise at all if Elizabeth Warren wins the Democratic nomination.

And if she wins the nomination, there is a really good chance that she will be the next president of the United States.

By the time the 2020 election arrives, the “economic crash” that Elizabeth Warren is warning about is likely to be here.  But no amount of “free stuff” is going to fix things, and the truth is that socialism never works on a long-term basis.

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.

A New Study Discovers Two-Thirds Of All Bankruptcies In The United States Are Primarily Caused By Medical Bills

Our health insurance system is theoretically supposed to prevent Americans from going bankrupt when they are hit by huge medical bills.  But in case after case, that is simply not happening.  Even though more Americans are “covered by health insurance” than ever before, a new study has found that “about 530,000 families each year are financially ruined by medical bills and sicknesses”, and most of those families actually had health insurance.  These days, most health insurance policies closely resemble Swiss cheese because they are so full of loopholes, and health insurance companies have become masters at finding ways to wiggle off the hook.  So every year hundreds of thousands of American families find themselves facing huge medical bills that they did not expect to be paying, and as a result medical expenses are the primary factor in 66.5 percent of all personal bankruptcy filings in the United States…

For many Americans, putting one’s health first can mean putting one’s financial status at risk. A study of bankruptcy filings in the United States showed that 66.5% were due, at least in part, to medical expenses.

The study, led by Dr. David Himmelstein, Distinguished Professor at the City University of New York’s (CUNY) Hunter College and Lecturer at Harvard Medical School, indicates that about 530,000 families each year are financially ruined by medical bills and sicknesses. It’s the first research of its kind to link medical expenses and bankruptcy since the passage of the Affordable Care Act (ACA) in 2010.

But wasn’t Obamacare supposed to make things better?

Yes, that was what we were promised, but the authors of the study discovered that the percentage of bankruptcies caused by medical bills actually went up by 2 percent after Obamacare went into effect…

The current study found no evidence that the ACA reduced the proportion of bankruptcies driven by medical problems: 65.5% of debtors cited a medical contributor to their bankruptcy in the period prior to the ACA’s implementation as compared to 67.5% in the three years after the law came into effect. The responses also did not differ depending on whether the respondent resided in a state that had accepted ACA’s Medicaid expansion. The researchers noted that bankruptcy is most common among middle-class Americans, who have faced increasing copayments and deductibles in recent years despite the ACA. The poor, who were most helped by the ACA, less frequently seek formal bankruptcy relief because they have few assets (such as a home) to protect and face particular difficulty in securing the legal help needed to navigate formal bankruptcy proceedings.

Even though more Americans are “in the system” than ever before, clearly what we are doing is simply not working.

As I detailed in my article entitled “$3.5 Trillion A Year: America’s Health Care System Has Become One Of The World’s Largest Money Making Scams”, our health care industry has become all about grabbing as much money as humanly possible.  We are being taken advantage of when we are at our most vulnerable, and the level of greed that we see in the system is absolutely sickening.

As Dr. David Himmelstein has astutely observed, most Americans are “just one serious illness away from bankruptcy”…

Dr. David Himmelstein, the lead author of the study, a Distinguished Professor at the City University of New York’s (CUNY) Hunter College and Lecturer at Harvard Medical School commented: “Unless you’re Bill Gates, you’re just one serious illness away from bankruptcy. For middle-class Americans, health insurance offers little protection. Most of us have policies with so many loopholes, copayments and deductibles that illness can put you in the poorhouse. And even the best job-based health insurance often vanishes when prolonged illness causes job loss – just when families need it most.”

You may think that your health insurance policy is somehow different.

You may actually believe that your health insurance company will be there for you when you need them the most.

And they might be.  But the truth is that hundreds of thousands of American families have discovered that most health insurance companies will turn on you the moment it becomes advantageous for them to do so.

It turns out that most doctors dislike the health insurance companies too.  Just check out these numbers

Are health insurance policies creating nightmares for physicians and hazards for their patients? A new study finds that nearly nine in ten doctors believe barriers set by insurance plans have led to worsened conditions for patients in need of care.

Researchers with Aimed Alliance, a non-profit that seeks to protect and enhance the rights of health care consumers and providers, say that doctors are so fed up with the constant headaches caused by insurers, two-thirds would recommend against pursuing a career in medicine, and nearly half (48%) are considering a career change altogether.

If health insurance companies acted with compassion and always fulfilled the promises that they made, then the rest of us wouldn’t be so hard on them.

But of course the health insurance companies look like saints when compared to the ultra-greedy pharmaceutical companies.  When one pharmaceutical company recently hiked the annual price of a low-cost drug to $375,000, it just about caused Senator Bernie Sanders to cough up a lung

Sen. Bernie Sanders sent a blistering letter to a pharmaceutical company on Monday, demanding answers about its decision to charge $375,000 for a formerly low-cost drug and calling it corporate greed at its worst.

“Catalyst’s decision to set the annual list price at $375,000 is not only a blatant fleecing of American taxpayers, but is also an immoral exploitation of patients who need this medication,” the independent senator from Vermont wrote. “Simply put, it is corporate greed.

“I am profoundly concerned that Catalyst’s actions will cause patients to suffer or die.”

Fixing our deeply, deeply broken health care system has got to be a top national priority, but at this point neither party has a plan that will turn things around.

So we are stuck with what we have currently got, and it is getting worse with each passing day.

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.

10 Numbers That Prove That We Are Rapidly Becoming A Nation Of Government Dependents

As the middle class disintegrates and poverty grows, more Americans than ever are becoming dependent on the government just to survive.  Today, we live in a country where most workers do not earn enough to support a middle class family, and we are seeing the homelessness crisis spiral out of control in major cities on both coasts.  During this election cycle, many conservatives have been freaking out that an increasing number of Democrats are openly embracing socialism, but the truth is that we are already most of the way to becoming a socialist country.  In fact, as you will see below, more than half of all Americans currently receive more money from the government than they pay in taxes.  We have become absolutely addicted to government money, and this is one of the major trends that is eating away at our nation like cancer.

The government is not supposed to take care of us from the cradle to the grave.

Rather, our founders understood that the proper role of government is to create and protect an environment of liberty and freedom where we would be empowered to take care of ourselves.

Today, most Americans cannot independently take care of themselves, and that makes them dependents.  And when you are a dependent, you aren’t really free.

One of the reasons why I write so much about the decline of the middle class is because it is an existential threat to our way of life.  If you look around the world, or if you go back through history, you will see that tyrannical regimes tend to thrive when populations are poor and cannot stand up for themselves.  If we want our Republic to survive, we need a strong, independent population that is not economically dependent on the government.  That is what we had throughout most of our history, and that is now what we are rapidly losing.

Just because you are working does not mean that you are independent.  At this point, most jobs do not pay enough to support a middle class family, and the ranks of the “working poor” continue to explode.  In reality, Americans are working harder than ever in 2018, and yet things continue to deteriorate.

The following are a few numbers that prove that we are rapidly becoming a nation of government dependents…

Over half the country now receives more in government transfer payments than they pay in taxes.

-According to one recent survey, the cost of living is higher than the median income in 42 U.S. states.

-Today, 50 percent of all American workers make less than $30,533 a year.

62 percent of Americans say that their financial situations have not improved since the last presidential election.

And here are six more from my friend Alan Yerushalmi

If things are this bad now, how dreadful will the outlook be once we are deep into the next recession?

History has shown that once national governments begin to expand in size, they usually keep expanding until they ultimately collapse.

Sadly, a large portion of the population has become convinced that the government should be in the business of handing out as much “free stuff” as possible.  Housing, healthcare and college education are now being called “human rights”, and tens of millions of our fellow citizens feel that they are entitled to be given these things by the government.  Needless to say, this has chilling implications for the future of our country, and I really like how Ryan McMaken made this point in his most recent article

The political implications of this are considerable. As Ludwig von Mises once noted, once we get to the point that a majority of the voting population receives more in benefits than it pays in taxes, then voters will demand more and more wealth be transferred to them through government programs. It will then become politically necessary to extract larger and larger amounts of wealth from a minority in order to subsidize the majority.

Market economics will become less and less popular because the voters will have realized they can — in the words of James Bovard — “vote for a living” instead of work for a living.

Every additional dollar that the federal government spends is an additional dollar that is being stolen from our children and our grandchildren, and we are already more than 21 trillion dollars in debt.

We have been on the greatest debt binge in human history, and that debt binge delayed our day of reckoning, but it did not cancel it.

In fact, one of my contacts just emailed me with some deeply troubling information.  He has a customer that is a Bank of America board member, and that board member told him that they expect things to really start falling apart by late March “at the latest”.  This is word for word what my contact told me…

“I had a customer this past Saturday who was a very high ranking Bank of America board member, and she said in the meetings, they expect late March, at the latest, that things will really start to disintegrate fairly quickly or very quickly. That was AT THE LATEST she said.”

When I say that “dark days are ahead”, I am not using hyperbole.  We really have reached a turning point, and things will never be the same again.

The relentless march of time is inexorable, and eventually the clock runs out for everyone.  America has been living on borrowed time for quite a while, and a perfect storm is looming on the horizon.

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.

The Last Days Warrior Summit is the premier online event of 2018 for Christians, Conservatives and Patriots.  It is a premium members-only international event that will empower and equip you with the knowledge and tools that you need as global events begin to escalate dramatically.  The speaker list includes Michael Snyder, Mike Adams, Dave Daubenmire, Ray Gano, Dr. Daniel Daves, Gary Kah, Justus Knight, Doug Krieger, Lyn Leahz, Laura Maxwell and many more. Full summit access will begin on October 25th, and if you would like to register for this unprecedented event you can do so right here.

Medicare For All? Shock Poll Discovers That 70 Percent Of Americans Want Single-Payer Healthcare To Happen

Should the U.S. government provide medical care for everybody?  A shocking new poll that was just released found that 70 percent of all Americans actually want this to happen.  Of course if they also asked people if they wanted their taxes to double in order to pay for such a system, the percentage of favorable responses would have probably been a lot lower.  But still, this poll result shows that Americans are willing to embrace socialism to a degree that would have been absolutely unthinkable a decade or two ago.  Of course “Medicare for all” is not going to happen as long as Donald Trump resides in the White House, but if future polls keep returning similar results it is only a matter of time before a Democratic administration will implement such a policy.  And as we have seen with Obamacare, once a new social program is in place it can be nearly impossible to get rid of it.

We all knew that a high percentage of Democrats were in favor of “Medicare for all”, but what really shocked me was that this poll found that 52 percent of Republicans are now in favor of it….

A vast majority — 70 percent — of Americans in a new poll supports “Medicare for all,” also known as a single-payer health-care system.

The Reuters–Ipsos survey found 85 percent of Democrats said they support the policy along with 52 percent of Republicans.

Wow.

At one time I was pretty certain what a “Republican” was, but things have changed so dramatically that I am not really sure anymore.

Of course nobody likes paying the sky high health insurance premiums that have been forced on us thanks to Obamacare, and so I definitely understand the hunger for change.

But fully socialized medicine would greatly accelerate our trip down the road toward national bankruptcy.  According to one recent study, a “Medicare for all” system would result in a rise in federal spending of more than 30 trillion dollars over a 10 year period…

Medicare for all has been in the headlines after a study by the libertarian-leaning Mercatus Center at George Mason University found it would lead to a $32.6 trillion increase in federal spending over a 10-year period.

The study’s author, Charles Blahous, wrote in The Wall Street Journal earlier this month that even doubling taxes would not cover the bill for a single-payer health-care system.

I don’t know about you, but I sure do not want my taxes doubled so that the left can implement a government-controlled healthcare system.

But what we have today is certainly not working.  That is why many of us are deeply, deeply frustrated with the Republicans in Congress.  They had a golden opportunity to repeal Obamacare during this two-year period that they have been in control, and they have completely fumbled the ball.  It is a political failure of the highest order, and millions upon millions of American families are deeply suffering as a result.

Just recently, Bloomberg profiled one of those families…

When their son Sky was born four years ago, Lindsie and Chris Bergevin were hit with a big surprise: $7,000 in bills for the birth that their health plan didn’t cover. Sky was two when the couple jettisoned their medical insurance, which helped them eventually pay off the debt.

Now that they’re ready to have a second child, they’re not going back to their old coverage, with its premiums of more than $350 a month. Instead, they’ve patched together an alternative through a religious group and a primary-care doctor whom they can visit anytime for a monthly fee.

The health insurance system that we have today is a complete and utter failure.  Families are paying ridiculously high premiums for deeply flawed policies with extremely high deductibles, and a lot of people are saying enough is enough.

For example, it is being estimated that more than one million Americans have now joined “health sharing ministries”…

The number of people joining so-called health-care sharing ministries—religion-based cost-sharing plans—rose 74 percent from 2014 to 2016, according to the latest Internal Revenue Service data. An alliance for the groups said that more than 1 million people now participate in such programs. Similarly, primary-care clinics like the one Julie Gunther started in 2014 have grown to almost 900 from just a handful in the early 2000s, according to the Direct Primary Care Coalition, a trade group for the clinics.

There are free market solutions out there that actually work.  In addition to health sharing ministries, direct primary care and association buying groups are other free market models that have shown that they have tremendous potential.

Unfortunately, that is not where society is trending.

Even though Republicans are in control of Washington for the moment, the federal government just keeps getting bigger and bigger.  Earlier today, I was astounded to learn that 52 percent of all U.S. children live in a household that receives benefits from the U.S. government each month…

In 2016, according to the most recent data from the Census Bureau, there were approximately 73,586,000 people under 18 in the United States, and 38,365,000 of them — or 52.1 percent — resided in households in which one or more persons received benefits from a means-tested government program.

These included the Supplemental Nutrition Assistance Program (food stamps), Medicaid, public housing, Supplemental Security Income, the Special Supplemental Nutrition Program for Women, Infants and Children, Temporary Assistance for Needy Families and the National School Lunch Program.

All throughout American history, social programs have steadily expanded, and until things completely collapse they will probably continue to expand.

In addition to wanting free government healthcare, it turns out that most Americans also want free college education

The new Reuters poll also showed that a majority of Americans supports free college tuition. Forty-one percent of Republicans said they supported the policy, pollsters found, compared with 79 percent of Democrats.

“Free stuff” always sounds great until you figure out that someone has to pay for it.

And in our case, we have already stolen more than 21 trillion dollars from future generations to pay the bills.  How in the world are we going to be able to afford everything else that the socialists want to do?

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.

Handout Nation: Combined Enrollment In America’s 4 Largest Safety Net Programs Hits A Record High Of 236 Million

Margaret Thatcher once said that the problem with socialism “is that eventually you run out of other people’s money”.  As you will see below, the combined enrollment in America’s four largest safety net programs has reached a staggering 236 million.  Of course that doesn’t mean that 236 million people are getting benefits from the government each month because there is overlap between the various programs.  For example, many Americans that are on Medicaid are also on food stamps, and many Americans that are on Medicare are also on Social Security.  But even accounting for that, most experts estimate that the number of Americans that are dependent on the federal government month after month is well over 100 million.  And now that so many people are addicted to government handouts, can we ever return to a culture of independence and self-sufficiency?

On Wednesday, CNN ran an editorial by Bernie Sanders in which he called President Trump’s proposed budget “immoral” because it would cut funding for government aid programs.

But is it moral to steal more than a hundred million dollars from future generations of Americans every single hour of every single day to pay for these programs?

Of course the answer to that question is quite obvious.

There will always be some Americans that are unable to take care of themselves, and we should want to help them.

But as millions upon millions of Americans continue to jump on to the safety net, eventually we are going to get to the point where it is going to break.

As I mentioned above, the combined enrollment in the four largest safety net programs has reached a new all-time record high…

More than 74 million Americans are on Medicaid and CHIP (Children’s Health Insurance Program).

More than  58 million Americans are on Medicare.

More than 60 million Americans are on Social Security.

Approximately 44 million Americans are on food stamps.  And even though we are supposedly in an “economic recovery”, this number is still dramatically higher than the 26 million Americans that were on food stamps prior to the last financial crisis.

When you add the figures for those four programs together, you get a grand total of 236 million, and that doesn’t even count any of the other federal programs which are helping people.

Once again, there is overlap in enrollment between these various programs, but even accounting for that most experts believe that well over a third of the country is currently receiving benefits from the government each month.

How far down this road do we have to go before people start calling it “socialism”?

As I was writing this, I was reminded of one of Benjamin Franklin’s most famous quotes

“When the people find that they can vote themselves money that will herald the end of the republic.”

In our country today, many politicians have discovered that one of the best ways to win elections is to promise the voters as much free stuff as possible.  This is one of the primary reasons why Bernie Sanders did so well.  Young people loved his socialist policies, and he received more votes from Millennials in the primaries and caucuses than Donald Trump and Hillary Clinton combined.

As older generations of Americans continue to die off, the Millennials will just become even more powerful politically.  And considering the fact that they are far more liberal than other generations, that is a very alarming prospect…

In the minds of 80 percent of baby boomers and 91 percent of elderly Americans, communism was a major problem in years past and remains a significant concern today. But millennials, aged 16 to 20 years, see it differently. Only 55 percent of the younger generation take issue with communism, 45 percent say they would vote for a socialist and 21 percent say they’d vote for a communist.

And millennials made all that clear during the Democratic presidential primary, when many of them cast their vote for Vermont Sen. Bernie Sanders, a self-avowed socialist. In fact, the report credits the New England lawmaker with a “bounce” that led to less than half of millennials — 42 percent — having a favorable view of capitalism.

At this point, the Republic that our founders established is barely recognizable, and if it is going to be saved we need a conservative revolution as soon as possible.

A good place to begin would be to dramatically reduce the size and scope of the federal government, and there are some promising signs in the budget that President Trump has proposed.  He wants to completely eliminate 66 federal programs, and liberals are screaming bloody murder over this.

Of course Trump’s budget is “dead on arrival” in Congress because many among his own party do not support him.  Most Republicans campaign as conservatives but govern like Democrats, and it is high time that we held them accountable for that.  In 2018 we are going get Trump a whole bunch of friends in Congress, and a lot of those establishment Republicans that have been betraying conservatives for years are going to have to find a new line of work.

We simply cannot afford to keep sending the same cast of characters back to Washington time after time.  Just look at the debacle that the effort to repeal Obamacare has become.  According to Senate Majority Leader Mitch McConnell, getting any sort of bill through the Senate is going to be extremely challenging

Referring to behind-the-scenes work among Senate Republicans on a healthcare bill, McConnell said, “I don’t know how we get to 50 (votes) at the moment. But that’s the goal.”

Under a scenario of gathering the votes needed for passage in the 100-seat chamber, Republican Vice President Mike Pence would be called upon to cast any potential tie-breaking Senate vote.

McConnell opened the interview by saying, “There’s not a whole lot of news to be made on healthcare.” He declined to provide any timetable for producing even a draft bill to show to rank-and-file Republican senators and gauge their support.

And yet somehow when Obama was in office the Republicans in the House and the Senate were able to easily pass a bill to repeal Obamacare and get it to Obama’s desk.

Why can’t they get that exact same bill to Trump’s desk?

We definitely need to “drain the swamp” in D.C., and we can start with Congress.

But the alliance between big money and big government is going to be hard to defeat, and so if we want our country back we are going to have to fight harder than we have ever fought before.

Watch Venezuela, Because Food Shortages, Looting And Economic Collapse Are Coming To America Too

Venezuela Economic CollapseThe full-blown economic collapse that is happening in Venezuela right now is a preview of what Americans will be experiencing in the not too distant future.  Just a few years ago, most Venezuelans could never have imagined that food shortages would become so severe that people would literally hunt dogs and cats for food.  But as you will see below, this is now taking place.  Sadly, this is what the endgame of socialism looks like.  When an all-powerful government is elevated far above all other institutions in society and radical leftists are given the keys to the kingdom, this is the result.  Food shortages, looting and rampant violent crime have all become part of daily life in Venezuela, and we all need to watch as this unfolds very carefully, because similar scenarios will soon be playing out all over the planet.

The funny thing is that Venezuela actually has more “wealth” than most countries in the world.  According to the CIA, Venezuela actually has more proven oil reserves than anyone else on the globe – including Saudi Arabia.

So how did such a wealthy nation find itself plunged into full-blown economic collapse so rapidly, and could a similar thing happen to us?

The president of Venezuela has declared a 60 day state of emergency in a desperate attempt to restore order, but most people don’t anticipate that it will do much good.  Social order continues to unravel as the economy systematically implodes.  The Venezuelan economy shrunk by 5.7 percent last year, and it is being projected that it will contract by another 8 percent in 2016.  Meanwhile, inflation is raging wildly out of control.  According to the IMF, the official inflation rate in Venezuela will be somewhere around 720 percent this year and 2,200 percent next year.

If people are able to get their hands on some money, they immediately rush out to the stores to use it before the prices go up again.  This has created devastating shortages of food, basic supplies and medicine.

Electricity is also in short supply, and a two day workweek has been imposed on many government employees in a desperate attempt to save power.  Violent crime is seemingly everywhere, and most law-abiding Venezuelans lock themselves in their homes at night as a result.

Much of the crime is being perpetrated by the mafia and the gangs, but sometimes it is just normal people looking for food.  Desperate people do desperate things, and according to the Guardian there have been “107 episodes of looting or attempted looting in the first quarter of 2016″…

Crowds of people in Venezuela have stolen flour, chicken and even underwear this week as looting increases across the country in the wake of shortages of many basic products. Many people have adopted the habit of getting up in the dead of night to spend hours in long lines in front of supermarkets. But as more end up empty-handed and black market prices soar, plundering is rising in Venezuela, an Opec nation that was already one of the world’s most violent countries.

There is no official data, but the Venezuelan Observatory for Social Conflict, a rights group, have reported 107 episodes of looting or attempted looting in the first quarter of 2016. Videos of crowds breaking into shops, swarming on to trucks or fighting over products frequently make the rounds on social media, though footage is often hard to confirm.

One example of this looting took place on May 11th.  Thousands of hungry people stormed Maracay Wholesale Market in central Venezuela, and the police seemed powerless to stop them

“They took milk, pasta, flour, oil, and milk powder. There were 5,000 people,”one witness told Venezuela outlet El Estímulo.

People from across the entire state came to the supermarket because there were rumors that some products not found anywhere else would be sold there.

“There were 250 people for each National Guard officer… lots of people and few soldiers. At least one officer was beat up because he tried to stop the crowd,” another source told El Estímulo.

You can see some rough footage of this incident right here

It is important to remember that this was not an isolated incident.  As people have become hungrier and hungrier, there have been reports of looting at “pharmacies, shopping malls, supermarkets, and food delivery trucks“.  During some of these episodes there have actually been people chanting “we are hungry”.

Other Venezuelans have resorted to digging in dumpsters and trash cans for food.  This many seem detestable to many Americans, but when you are desperately hungry you may be surprised at what you are willing to do.

And as I mentioned above, some Venezuelans and now actually hunting dogs and cats for food

Ramón Muchacho, Mayor of Chacao in Caracas, said the streets of the capital of Venezuela are filled with people killing animals for food.

Through Twitter, Muchacho reported that in Venezuela, it is a “painful reality” that people “hunt cats, dogs and pigeons” to ease their hunger.

You may be tempted to dismiss these people as “barbarians”, but someday Americans will be doing the exact same thing.

There has been a breakdown of basic social services in Venezuela as well.  Acute shortages of drugs and medical supplies are having absolutely tragic results.  When I read the following from the New York Times, this crisis in Venezuela become much more real to me…

By morning, three newborns were already dead.

The day had begun with the usual hazards: chronic shortages of antibiotics, intravenous solutions, even food. Then a blackout swept over the city, shutting down the respirators in the maternity ward.

Doctors kept ailing infants alive by pumping air into their lungs by hand for hours. By nightfall, four more newborns had died.

So once again I ask – how did such a thing happen to such a wealthy nation?

Here is Business Insider’s explanation…

The real culprit is chavismo, the ruling philosophy named for Chavez and carried forward by Maduro, and its truly breathtaking propensity for mismanagement (the government plowed state money arbitrarily into foolish investments); institutional destruction (as Chavez and then Maduro became more authoritarian and crippled the country’s democratic institutions); nonsense policy-making (like price and currency controls); and plain thievery (as corruption has proliferated among unaccountable officials and their friends and families).

Are not the same things happening here?

The U.S. government is mismanaging our money too.  During Barack Obama’s eight years in the White House, the U.S. national debt has risen by more than eight trillion dollars.  We waste money in some of the most bizarre ways imaginable, and at this point our national debt is nearly the double the size it was just prior to the last major financial crisis.

Institutional destruction is also a legacy of the Obama regime.  With each passing day, our society resembles the Republic that our founders originally intended less and less, and it resembles socialist dictatorships more and more.  We may as well not even have a Constitution anymore, because at this point nobody really follows it.

The third thing that Business Insider mentioned, “nonsense policy-making”, is a perfect description of what has been going on in Washington D.C. these days.  Perhaps that is why Congress only has a 12.8 percent approval rating right now.

Lastly, thievery and corruption are also out of control in our nation too.  The elite and special interest groups spend massive amounts of money to get their favorites into office, and in turn those politicians shower their good friends with money and favors.  It is a very sick relationship, but that is how our system now works.

We are sitting on the largest mountain of debt in the history of the planet, and our debt-fueled prosperity is completely dependent on the rest of the world lending us gigantic amounts of money at ridiculously low interest rates and continuing to use our increasingly shaky currency which we are debasing at a staggering pace.

We consume far more than we produce, and unlike Venezuela we aren’t sitting on hundreds of billions of barrels of oil.  The amount of “real wealth” that we actually have does not justify our current standard of living.  The only way that we are able to live the way that we do is by stealing consumption from the future.  One study has found that our debt level is the highest that it has been since the Great Depression of the 1930s, and yet we continue to race down this road to economic oblivion without even thinking twice about it.

What you sow is what you will reap.

And just like Venezuela, America will ultimately reap a very bitter harvest.

The Future Of America? – More Than Half Of All U.S. Adults Under Age 30 Now Reject Capitalism

Young People Abstract - Public DomainA shocking new survey has found that support for capitalism is dying in America.  In fact, more than half of all adults in the United States under the age of 30 say that they do not support capitalism at this point.  You might be tempted to dismiss them as “foolish young people”, but the truth is that they are the future of America.  As older generations die off, they will eventually become the leaders of this country.  And of course our nation has not resembled anything close to a capitalist society for quite some time now.  In a recent article, I listed 97 different taxes that Americans pay each year, and some Americans actually end up returning more than half of what they earn to the government by the time it is all said and done.  So at best it could be said that we are running some sort of hybrid system that isn’t as far down the road toward full-blown socialism as most European nations are.  But without a doubt we are moving in that direction, and our young people are going to be cheering every step of the way.

When I first heard of this new survey from Harvard University, I was absolutely stunned.  The following is from what the Washington Post had to say about it…

The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.

It isn’t clear that the young people in the poll would prefer some alternative system, though. Just 33 percent said they supported socialism. The survey had a margin of error of 2.4 percentage points.

Could it be possible that young adults were confused by the wording of the survey?

Well, other polls have come up with similar results

The university’s results echo recent findings from Republican pollster Frank Luntz, who surveyed 1,000 Americans between the ages of 18 and 26 and found that 58% of respondents believed socialism to be the “more compassionate” political system when compared to capitalism. And when participants were asked to sum up the root of America’s problem in one word, 29% said “greed.”

This trend among our young people is very real, and you can see it in their support of Bernie Sanders.  For millions upon millions of young adults in America today, Hillary Clinton is not nearly liberal enough for them.  So they have flocked to Sanders, and if they had been the only ones voting in this election season, he would have won the Democratic nomination by a landslide.

Sadly, most of our young people don’t seem to understand how socialism slowly but surely destroys a nation.  If you want to see the end result of socialism, just look at the economic collapse that is going on in Venezuela right now.  The following comes from  a Bloomberg article entitled “Venezuela Doesn’t Have Enough Money to Pay for Its Money“…

Venezuela’s epic shortages are nothing new at this point. No diapers or car parts or aspirin — it’s all been well documented. But now the country is at risk of running out of money itself.

In a tale that highlights the chaos of unbridled inflation, Venezuela is scrambling to print new bills fast enough to keep up with the torrid pace of price increases. Most of the cash, like nearly everything else in the oil-exporting country, is imported. And with hard currency reserves sinking to critically low levels, the central bank is doling out payments so slowly to foreign providers that they are foregoing further business.

Venezuela, in other words, is now so broke that it may not have enough money to pay for its money.

We are losing an entire generation of young people.  These days, there is quite a lot of talk about how we need to get America back to the principles that it was founded upon, but the cold, hard reality of the matter is that most of our young people are running in the opposite direction as fast as they can.

And Americans under the age of 30 are not just becoming more liberal when it comes to economics.  Surveys have found that they are more than twice as likely to support gay rights and less than half as likely to regularly attend church as the oldest Americans are.

So why is this happening?

Well, the truth is that our colleges and universities have become indoctrination centers for the progressive movement.  I know, because I spent eight years at public universities in this country.  The quality of the education that our young people are receiving is abysmal, but the values that are being imparted to them will last a lifetime.

And of course the same things could be said about our system of education all the way down to the kindergarten level.  There are still some good people in the system, but overall it is overwhelmingly dominated by the progressives.

Meanwhile, the major entertainment providers in the United States are also promoting the same values.  In a recent article entitled “Depressing Survey Results Show How Extremely Stupid America Has Become“, I discussed a Nielsen report which detailed how much time the average American spends consuming media on various electronic devices each day…

Watching live television: 4 hours, 32 minutes

Watching time-shifted television: 30 minutes

Listening to the radio: 2 hours, 44 minutes

Using a smartphone: 1 hour, 33 minutes

Using Internet on a computer: 1 hour, 6 minutes

Overall, the average American spends about 10 hours a day consuming one form of entertainment or another.

When you allow that much “programming” into your mind, it is inevitable that it is going to shape your values, and our young people are more “plugged in” than any of the rest of us.

So yes, I believe that it is exceedingly clear why we should be deeply concerned about the future of America.  The values that are being relentlessly pounded into the heads of our young people are directly opposed to the values that this nation was founded upon, and it is these young people that will determine the path that this country ultimately takes.

*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*

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