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.

Trumpocalypse? Suddenly Liberals Are The Ones Stockpiling Food, Guns And Emergency Supplies

prepper-photo-by-nomadic-lass-on-flickrNow that the shoe is on the other foot, many liberals all over America have suddenly become extremely interested in prepping.  Fearing that a Trump presidency could rapidly evolve into a “Trumpocalypse”, a significant number of leftists are now stockpiling food, guns and emergency supplies.  In fact, even though many had expected a sharp drop in gun sales following Trump’s victory, what actually happened is that fear of what is coming under Trump pushed background checks for gun sales to an all-time record high on Black Friday.  The election of Donald Trump has awakened the left to a degree that we haven’t seen in decades, and some on the left are embracing hardcore survivalism without any apologies.

What is ironic about all of this is that on the other end of the political spectrum interest in prepping is probably the lowest that it has ever been in the history of the modern prepper movement.  A couple of weeks ago, I wrote an article about how it was like “a nuclear bomb went off in the prepping community“, and nothing has changed since that time.

In fact, since I originally wrote that article we have gotten some hard numbers that show how dramatically optimism about the future has surged among those on the right.

Just before the election, CNBC’s All-America Economic Survey found that only 15 percent of all Republicans believed that the economy would improve over the next year, but after the election that number skyrocketed all the way up to 74 percent.

But among Democrats it is a different story altogether.  That same CNBC survey found that optimism about the economy on the left fell by more than half after the election.  At this point, it is sitting at just 16 percent.

It would be hard to overstate how negatively many on the left feel about Trump.  We have seen many of them take to the streets to angrily protest his election, and according to the BBC others have decided to stockpile food and guns “in preparation for social and economic collapse”…

In America, stockpiling weapons and food, in preparation for social and economic collapse, has tended to be the preserve of right-wing libertarians and foes of “big government”. But the Liberal Prepper Facebook group – up to now a small band – reports a big increase in enquiries.

“A lot of people are worried that not only will [a Trump presidency] fail but that it will fail spectacularly to the point that we are going to end up on in one or more critical situations that we are just not prepared for,” says Jeff, 36, one of the group’s members.

So could we see “social and economic collapse” under Trump?

Despite the wild optimism that we are seeing on the right at the moment, without a doubt this is a possibility.

It is funny how a single election can change our perspective on things so dramatically.  During the Obama years, it seemed like the left was constantly talking about disarming everyone, but now Trump has sparked a renewed interest in gun ownership among many liberals.  Prominent progressive author Ana Marie Cox is just one example

Witness Ana Marie Cox, a popular progressive writer with gigs at MTV and the New York Times. “So who else has been researching basic disaster prep stuff?” she polled her Twitter audience on Wednesday. “Bc—congrats, right wingers—I do not trust the government to help anymore!” Her next tweet extended the holiday merriment to our nation’s Second Amendment enthusiasts: “Getting my rifle out of storage this week.”

And did you know that leftists even have their own gun organization?

It is known as “the Liberal Gun Club”, and since Trump’s victory it has experienced a huge surge in membership

Lara Smith, national spokesperson for the Liberal Gun Club, says her organization has seen a “huge” rise in enquiries since November’s election and a 10% increase in paid members.

US gun sales hit record levels in October amid fears a Hillary Clinton election victory would lead to draconian gun control measures.

The election of Donald Trump, who was backed by the National Rifle Association early on, was thought to bring an end to panic buying. Shares in gun manufacturers even dropped by as much as 18% following his victory.

Instead, FBI background checks for gun transactions soared to a new record for a single day – 185,713 – during the Black Friday sales on 25 Novemberaccording to gun control news site The Trace.

Many on the right have responded to Donald Trump’s election victory by deciding that the battle is over and that it is time to go to sleep.  But many on the left have been suddenly awakened and are now preparing for extremely challenging times ahead.

I hate to say this, but in this case those on the left that are busily preparing are showing much more wisdom than many on the right that have chosen to abandon prepping altogether at this point.

Of course most of those on the left don’t really understand the storm that is approaching.  All they know is that Trump is “really bad” and therefore they need to try to get through the next four years the best that they can.  Here is more from the BBC

“We are not looking for end of the world Mad Max-type scenarios, we are not looking at a zombie apocalypse,” says the author of a left wing survivalist blog, who also reports a surge in interest since Trump’s victory.

He says it is “fairly easy to predict” an economic collapse under Trump but adds: “No matter what, the country is still going to be here in four years, there’s going to be another election.”

I would have to agree that a major economic downturn is quite likely in the very near future.  We have been on the greatest debt binge in history during the Obama years, and it is inevitable that this bubble will burst.

Donald Trump basically has two choices.  He could try to prolong this debt bubble for as long as possible, but that would make the ultimate outcome even worse.  Or he could try to deal with the crisis right away, but that would mean an extraordinary amount of pain for all of us.

No matter who won the election, we were going to have to deal with the consequences of decades of incredibly foolish decisions sooner or later.

Let us certainly hope for the best, but without a doubt those that are preparing for challenging times ahead are showing incredible wisdom, and this includes both liberals and conservatives.

Are Black Friday Riots A Preview Of The Civil Unrest That Is Coming When Society Breaks Down?

If Americans will trample one another just to save a few dollars on a television, what will they do when society breaks down and the survival of their families is at stake?  Once in a while an event comes along that gives us a peek into what life could be like when the thin veneer of civilization that we all take for granted is stripped away.  For example, when Hurricane Sandy hit New York and New Jersey there was rampant looting and within days people were digging around in supermarket dumpsters looking for food.  Sadly, “Black Friday” also gives us a look at how crazed the American people can be when given the opportunity.  This year was no exception.  Once again we saw large crowds of frenzied shoppers push, shove, scratch, claw, bite and trample one another just to save a few bucks on cheap foreign-made goods.  And of course most retailers seem to be encouraging this type of behavior.  Most of them actually want people frothing at the mouth and willing to fight one another to buy their goods.  But is this kind of “me first” mentality really something that we want to foster as a society?  If people are willing to riot to save money on a cell phone, what would they be willing to do to feed their families?  Are the Black Friday riots a very small preview of the civil unrest that is coming when society eventually breaks down?

Once upon a time, Thanksgiving was not really a commercial holiday.  It was a time to get together with family and friends, eat turkey and express thanks for the blessings that we have been given.

But in recent years Black Friday has started to become even a bigger event than Thanksgiving itself.

Millions of Americans have become convinced that it is fun to wait in long lines outside retail stores in freezing cold weather in the middle of the night to spend money that they do not have on things that they do not need.

And of course very, very few “Black Friday deals” are actually made in America.  So these frenzied shoppers are actually killing American jobs and destroying the U.S. economy as well.

The absurdity of Black Friday was summed up very well recently in a statement that has already been retweeted on Twitter more than 1,000 times

“Black Friday: because only in America people trample each other for sales exactly one day after being thankful for what they already have.”

It has gotten to the point where it is now expected that there will be mini-riots all over the country early on Black Friday morning each year.  The following are a few examples of the craziness that we saw this year…

-“Fights break out when stores open on Black Friday

-“Black Friday madness at Georgia Wal-Mart

-“Black Friday Frenzy: 2 Run Down in Washington, Man Pulls Gun in Texas

-“Black Friday 2012: Rush at Victoria’s Secret Pink at Oak Park Mall in Overland Park, Kan.

-“Black Friday shoppers smash door at Urban Outfitters

-“Black Friday Shopping Hysteria From Around The Country [PHOTOS]

-“Disturbance leads to scare at Westroads Mall

-“Teens In Custody After Woodland Mall Fight

-“Boy Robbed During Black Friday Shopping At Arundel Mills

-“Shoppers Were So Obsessed With Black Friday Deals They Left Their Infants Unattended

Fortunately, many Americans are starting to get fed up with Black Friday.  In fact, one activist named Mark Dice actually went out and heckled Black Friday shoppers this year.  I found the following You Tube video to be very funny, and I think most of you will too…

In the end, it is not that big of a deal that people want to fight with one another to save 50 dollars on a cell phone.

But this kind of extreme selfishness and desperation could become a massive problem someday if society breaks down and suddenly millions of extremely selfish and desperate people are scrambling for survival.

With each passing day our economy is getting even weaker, and the next wave of the economic collapse is rapidly approaching.  What are people going to do when the next spike in unemployment hits us and nobody can find work?

To get an idea of where things are headed, just look at Europe.  In both Greece and Spain the unemployment rate is over 25 percent and civil unrest has become almost a constant problem in both of those countries.

So what kind of riots will we see in the United States when the economy gets much worse than it is now?

Already there are signs of social decay all around us, and most Americans are completely unprepared for what will happen if a major disaster or emergency does strike.

Sadly, the reality is that most Americans live on a month to month basis.  Most families do not have any emergency savings to speak of, and one recent poll found that 55 percent of all Americans only have enough food in their homes to survive for three days or less.

To me, that is an absolutely insane number.

We just came through a summer of extreme drought and global food supplies have dropped to a 40 year low.  Our world is becoming increasingly unstable, and the global financial system could fall apart at any time.  Most of us just assume that there will always be huge amounts of very cheap food available to us, but unfortunately that simply is not a safe assumption.  The following is from a recent article in the Guardian

Evan Fraser, author of Empires of Food and a geography lecturer at Guelph University in Ontario, Canada, says: “For six of the last 11 years the world has consumed more food than it has grown. We do not have any buffer and are running down reserves. Our stocks are very low and if we have a dry winter and a poor rice harvest we could see a major food crisis across the board.”

“Even if things do not boil over this year, by next summer we’ll have used up this buffer and consumers in the poorer parts of the world will once again be exposed to the effects of anything that hurts production.”

When I watch my fellow Americans trample one another to get a deal on a television or a video game, it makes me wonder what they would be willing to do if they went to the store someday and all the food was gone.

Desperate people do desperate things, and someday if there was a major economic breakdown in the United States I think the level of desperation in this country would be extremely frightening.

So what do you think?  Please feel free to post a comment with your thoughts below…

55 Reasons Why You Should Buy Products That Are Made In America

This is the time of the year when Americans run out to their favorite retail stores and fill up their shopping carts with lots of cheap plastic crap made by workers in foreign countries where it is legal to pay slave labor wages.  By doing this, the American people are actively participating in the destruction of the U.S. economy.  You see, buying products that are made in America is not just a matter of national pride.  It is a matter of national survival.  If we do not support American workers, they are going to continue to see their jobs shipped out of the country.  If we do not support American businesses, they are going to continue to die off at a staggering rate.  Last year, the United States had a trade deficit with the rest of the world of 558 billion dollars.  More than half a trillion dollars that could have gone into the pockets of U.S. workers and U.S. businesses went overseas instead.  If that money had stayed in the country, taxes would have been paid on that mountain of cash and our local, state and federal government debt problems would not be as severe.  As a result of our massive trade imbalance, we have lost tens of thousands of businesses, millions of jobs and trillions of dollars of national wealth.  Both major political parties have sold us out on these issues, and we are getting poorer as a nation with each passing day.  We desperately need a resurgence of economic patriotism in the United States before it is too late.

Yes, I know that it is very tempting to buy foreign-made products.  After all, they are almost always cheaper.

But most people don’t often think about why they are cheaper.

Unfortunately, in the name of “free trade” American workers have been merged into a global labor pool where they have to compete directly for jobs with workers on the other side of the globe that live in countries where it is legal to pay slave labor wages.  This makes employing American workers a tremendous liability.

If a company hires you and pays you 10 to 15 dollars an hour with benefits, how is it going to compete with another company that pays workers a dollar an hour with no benefits on the other side of the planet?

Both major political parties are pushing this emerging “one world economic system“, but it is absolutely killing American jobs.  We have already seen a mass exodus of jobs and businesses out of this country, and wages for the jobs that remain in the United States are being forced down because there are hordes of unemployed workers that are willing to take just about any decent job they can find.

It has become painfully obvious that our politicians are not going to do anything to help us on these issues, so what we need is a mass awakening among the American people.

We need to educate people that buying things that are made in America is good for the economy and that buying things that are made elsewhere is bad for the economy.

But for now, most Americans are clueless.  They will line up on Black Friday morning and trample one another in a desperate attempt to save a few bucks on cheap plastic devices that were made on the other side of the planet.

And they will pay for much of this “shopping” with credit cards.

Credit card debt is on the rise once again.  In fact, average credit card debt per borrower was 4.9 percent higher in the third quarter of 2012 than it was in the third quarter of 2011.  It looks like most of us didn’t learn our lessons from the last financial crisis.

But not all Americans enjoy the shopping that is typically involved with this time of the year.  One recent survey found that approximately 45 percent of all Americans think that there is so much financial pressure associated with the holidays that they wouldn’t mind skipping them completely.

That same poll found that approximately 41 percent of all Americans would only be able to survive for two weeks without a paycheck.  Many Americans are up to their eyeballs in debt, their incomes are not keeping up with rising prices, and they find themselves scratching and clawing just to make it from month to month.

Meanwhile, we continue to destroy our own jobs and businesses by spending our money on products that have been made outside the country.

The following are 55 reasons why you should buy products that are made in America this holiday season…

1. When you buy products that are made in America you support American workers.

2. When you buy products that are made in America you support companies that are doing business in America.

3. In 2000, there were more than 17 million Americans working in manufacturing, but now there are less than 12 million.

4. The United States has a trade imbalance that is more than 7 times larger than any other nation on earth has.

5. Our trade deficit with China in 2011 was $295.5 billion.  That was the largest trade deficit that one country has had with another country in the history of the planet.

6. In 2011, our trade deficit with China was 28 times larger than it was back in 1990 and more than 49,000 times larger than it was back in 1985.

7. When NAFTA was passed in 1993, the United States had a trade surplus with Mexico of 1.6 billion dollars.  In 2010, we had a trade deficit with Mexico of 61.6 billion dollars.

8. One professor has estimated that cutting the U.S. trade deficit in half would create 5 million more jobs in the United States.

9. Overall, the United States has run a trade deficit of more than 8 trillion dollars with the rest of the globe since 1975.  That 8 trillion dollars could have gone to support U.S. businesses and pay the wages of U.S. workers.  Federal, state and local taxes would also have been paid on that 8 trillion dollars if it had stayed in the United States.

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

11. The United States has lost an average of approximately 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001.

12. According to U.S. Representative Betty Sutton, the United States has lost an average of 15 manufacturing facilities a day over the last 10 years.

13. During 2010 alone, an average of 23 manufacturing facilities permanently shut down in the United States every single day.

14. Overall, the United States has lost more than 56,000 manufacturing facilities since 2001.

15. The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.

16. Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.

17. As I have written about previously, 95 percent of the jobs lost during the last recession were middle class jobs.

18. Due in part to the globalization of the labor pool, only about 24 percent of all jobs in the United States are “good jobs” at this point.

19. Right now, more than 41 percent of all working age Americans do not have a job, and the vast majority of the new jobs that are being created are low paying jobs.

20. The United States now has 10 percent fewer “middle class jobs” than it did just ten years ago.

21. According to the Economic Policy Institute, the U.S. economy loses approximately 9,000 jobs for every $1 billion of goods that are imported from overseas.

22. As our economic infrastructure is gutted, formerly great manufacturing cities all over America are being transformed into festering hellholes.

23. Between 2001 and 2007, the value of products that Wal-Mart imported from China grew from $9 billion to $27 billion.

24. In 2001, American consumers spent 102 billion dollars on products made in China.  In 2011, American consumers spent 399 billion dollars on products made in China.

25. The United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.

26. Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Today, China’s high-tech exports are more than twice the size of U.S. high-tech exports.

27. In 2002, the United States had a trade deficit in “advanced technology products” of $16 billion with the rest of the world.  In 2010, that number skyrocketed to $82 billion.

28. The United States has lost more than a quarter of all of its high-tech manufacturing jobs over the past ten years.

29. Manufacturing employment in the U.S. computer industry was actually lower in 2010 than it was in 1975.

30. The Chinese undervalue their currency by about 40 percent in order to gain a critical advantage over foreign competitors.  This means that many Chinese companies are able to absolutely thrive while their competition in the United States goes out of business.

31. According to the New York Times, a Jeep Grand Cherokee that costs $27,490 in the United States costs about $85,000 in China thanks to all the tariffs.

32. In 2010, China produced more than twice as many automobiles as the United States did.

33. Since the auto industry bailout, approximately 70 percent of all GM vehicles have been built outside the United States.

34. Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe?  Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.

35. In 2010, South Korea exported 12 times as many automobiles, trucks and parts to us as we exported to them.

36. In 2010, China produced 627 million metric tons of steel.  The United States only produced 80 million metric tons of steel.

37. In 2010, China produced 7.3 million metric tons of cotton.  The United States only produced 3.4 million metric tons of cotton.

38. Today, China produces nearly twice as much beer as the United States does.

39. 85 percent of all artificial Christmas trees are made in China.

40. Right now, China is producing more than three times as much coal as the United States does.

41. China is now the number one supplier of components that are critical to the operation of U.S. defense systems.  How stupid can we possibly be?

42. According to author Clyde Prestowitz, China’s number one export to the U.S. is computer equipment.  According to an article in U.S. News & World Report, during 2010 the number one U.S. export to China was “scrap and trash”.

43. All over the United States, road and bridge projects are being outsourced to Chinese firms.  Just check out the following excerpt from a recent ABC News article….

In New York there is a $400 million renovation project on the Alexander Hamilton Bridge.

In California, there is a $7.2 billion project to rebuild the Bay Bridge connecting San Francisco and Oakland.

In Alaska, there is a proposal for a $190 million bridge project.

These projects sound like steps in the right direction, but much of the work is going to Chinese government-owned firms.

“When we subsidize jobs in China, we’re not creating any wealth in the United States,” said Scott Paul, executive director for the Alliance for American Manufacturing.

44. The new World Trade Center tower is going to include glass that has been imported from China.

45. The new Martin Luther King memorial on the National Mall was made in China.

46. The Chinese economy has grown 7 times faster than the U.S. economy has over the past decade.

47. The Chinese economy is projected to be larger than the U.S. economy by 2016.

48. One economist is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040.

49. In recent years the U.S. economy has embraced “free trade” and the emerging one world economy like never before.  Instead of increasing the number of jobs in our economy, it has resulted in the worst stretch of job creation in the United States in modern history….

If any single number captures the state of the American economy over the last decade, it is zero. That was the net gain in jobs between 1999 and 2009—nada, nil, zip. By painful contrast, from the 1940s through the 1990s, recessions came and went, but no decade ended without at least a 20 percent increase in the number of jobs.

50. If you gathered together all of the workers that are “officially” unemployed in the United States today, they would constitute the 68th largest country in the world.

51. China now holds approximately more than a trillion dollars of U.S. government debt.  If you were alive back when Jesus was born and you had spent a million dollars every single day since then, you still would not have spent that much money by now.

52. Jeffrey Immelt, the head of Barack Obama’s highly touted “Jobs Council”, has shipped tens of thousands of good jobs out of the United States.

53. Without enough good jobs, more Americans than ever before are falling into poverty.  Today, more than 100 million Americans are enrolled in at least one welfare program run by the federal government.

54. 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.

55. If U.S. consumers do not start supporting U.S. workers and U.S. businesses, eventually we will all be so poor that very few of us will be able to afford to buy any gifts during the holiday season.

Why Are Millions Of Americans Preparing For Doomsday?

All over America, there are millions of Americans that are quietly preparing for doomsday.  They are turning spare rooms into long-term food storage pantries, they are planting survival gardens, they are converting their homes over to alternative sources of energy, they are taking self-defense courses and they are stocking up on just about anything you can imagine.  They are called “preppers”, and their numbers have absolutely exploded in recent years.  In fact, you might be living next door to one and never even realize it.  According to a recent Daily Mail article, there are approximately 3 million preppers in the United States today.  Others believe that the true number is significantly higher than that.  This movement has become so popular that there are now even television shows being done about preppers.  The most popular is probably “Doomsday Preppers” on the National Geographic Channel.  This movement is still growing and is not going to go away any time soon.  In fact, as the world continues to become even more unstable it is likely that a lot more Americans will find themselves becoming preppers in the years ahead.

So what exactly are all these people so concerned about?  Exactly why are there millions of Americans that are feverishly preparing for doomsday?

Well, the truth is that you will never find two preppers that are exactly alike.  Some are deeply concerned about the potential for natural disasters and believe that we are now entering into a time when there will be catastrophic earth changes.  Other preppers believe that terrorism is the most significant threat to our way of life.  Killer pandemics, an EMP attack, World War III, martial law, solar megastorms, asteroid strikes and societal chaos are some of the other things that some preppers are worried about.

Of course an economic collapse is one of the biggest concerns for preppers, and without a doubt the U.S. economy is deeply troubled.  A collapse of the financial system would change all of our lives permanently.

But it isn’t just preppers that are concerned about these things.

A recent survey conducted by National Geographic asked Americans the following question….

“Which of the following, if any, do you think might happen in the United States in the next 25 years? Please choose all that apply.”

These were the results….

Significant Earthquake 64%
Significant Hurricane 63%
Terrorist Attack 55%
Financial Collapse 51%
Significant Blackout 37%
Pandemic, Such as From a Super-Virus 29%
Nuclear Fallout 14%
None of These 13%

Obviously there are a whole lot of people out there that feel as though we are heading for some really bad stuff.

So if hard times are coming, why not prepare for them?

After all, none of us want to end up like the poor people of New Orleans in the aftermath of Hurricane Katrina.  Large numbers of people were herded into the Superdome and food and water ran out really fast.  There was rampant looting of stores and people were shooting each other in the streets.  It was mass chaos.

The following is what one Australian blogger experienced while staying in the Superdome during Hurricane Katrina….

Last night was horrendous. I heard shouting, and drinks machines being smashed. There’s no sanitation and it’s so smelly. My hair is greasy and I feel a wreck. There are crack alleys among the maze of corridors. The lights are broken in the loos which, as well as being disgusting, have become dangerous, so we now only go as a big group.

More people are arriving, and the dome is like a refugee camp. I see two soldiers carrying a corpse and we hear there are more dead in the basement.

As an article in the New York Times from that time period detailed, food and water were in very short supply and those cramped into the Superdome were rapidly becoming impatient….

Desperation was in the air. Danielle Shelby tugged at a reporter’s arm. “I have a handicapped daughter,” she said. “She’s over there with her wheelchair. She’s hot. We don’t have any water. I’m afraid she’s going to have a seizure.”

Others crowded around. “I’ve been in the food line twice, and every time I get to the front they tell me they don’t have any left,” said Juanita McFerrin, 80.

Later on in that same article, we are told that there were fights, rapes and at least one suicide in the Superdome during that time….

It got worse. Ms. Rousell recalled hearing a loud bang Tuesday afternoon as the body of a man slapped the concrete at the edge of the football field in a fatal suicidal plunge, after he apparently learned that his home had been destroyed. Others told of fights that broke out in food lines, and of a husband and wife who slugged each other in a wild argument.

Several residents said they had heard of children being raped, though it was not clear whether anyone reported such incidents to the authorities, and no officials could be found who could confirm the accounts.

To get an even better idea of what life in New Orleans was like in the aftermath of Hurricane Katrina, just check out this video.

Within just a few days food, water and supplies started pouring into New Orleans and things started slowly getting back to normal, but imagine what things would look like in this country if we had to deal with a national disaster that stretched on for months or even years?

Many preppers are not taking any chances.  Many are absolutely determined to be able to take care of their families and friends no matter what the years ahead may bring.

ABC News recently profiled one prepper named Tim Ralston….

Tim Ralston, a married father of two from Arizona, is one such “prepper.”

“There’s a lot of different things that could happen,” Ralston said. “For me, I look at prepping as kind of like insurance. You have car insurance, health insurance, life insurance.”

Call it Apocalypse insurance. Ralston turned his family’s two-car garage into a staging area. Inside is a trailer, which he keeps packed and ready to go at all times, stockpiles of freeze-dried food, including cartons of canned chicken with a shelf life of 15 years, survival gear, such as a system for purifying polluted water, first aid kits and lots of weapons and ammunition. His son has his own AK-47.

Some preppers are going to the extreme and are spending huge amounts of money on their prepping.

CNN recently profiled one Australian prepper that has spent about $350,000 preparing for doomsday….

Bast has spent about $5,000 on stockpiles of food and water, and $11,000 on equipment including gas cookers, generators, batteries, water purifiers and solar power. He also purchased roughly an acre of land that’s a 75-minute drive from Melbourne and 1,500 feet above sea level (in order to stay high and dry in case of a flood or tsunami). He has built a house there, as well as a bunker to serve as his “safe spot” in the event of an emergency. Together, the land, buildings and bunker have cost him a total of about $330,000.

He’s also spent $10,000 on an 8-year old Toyota HiLux pickup truck to drive to his safe spot.

But the truth is that prepping does not have to be expensive.

The key is to start by focusing on the five basics….

1) Food

2) Water

3) Shelter

4) Energy

5) Self-Defense

There are some practical things that just about anyone can do even if you don’t have a lot of money.

For example, when you go to the store try to pick up a few extra items that are on sale and add them to your supplies.  If you rotate your food supplies, they won’t go bad.

In addition, just about anyone can plant a garden.  Often fruits and vegetables are some of the most expensive items at the grocery store, and so growing a garden can end up saving you a lot of money.

Get educated.  There are dozens of prepper websites out there where you can get an education in prepping for free.  The following are a few examples of some of the excellent prepper websites that are out there today….

*Survival Blog

*American Preppers Network

*The Survival Mom

*SHTFPlan.com

*Prepper Website

*Survival 4 Christians

*Backdoor Survival

*Off Grid Survival

The truth is that our world is becoming increasingly unstable in a whole bunch of different ways and we all need to learn how to prepare for the difficult years ahead.

As the economy continues to fall apart, America is going to become a very heartless place.  You don’t want to be caught in the middle of societal chaos without a plan.

None of us should be relying on the government to save us when things hit the fan.  We all saw what happened after Hurricane Katrina.  Those that were depending on the government were deeply disappointed.

We should all try to become as independent of the system as we can, because the system is failing.  In the years ahead there might not be anybody to help you and your family, so you need to be working hard right now to ensure that you and your family will be taken care of.

Yes, as you may have guessed by now, I am a prepper too.  My wife and I moved to an entirely different state and totally changed our lifestyle to prepare for what is coming.

Hopefully this article will inspire many more Americans to prepare for what is coming.  A great economic collapse is on the horizon and time is rapidly running out.

34 Pieces Of Evidence That Prove That The Middle Class In America Is Rapidly Shrinking

Do you ever get the feeling that the middle class in America is shrinking?  Well, you are not imagining things.  A confluence of very troubling long-term economic trends has created an environment in which the middle class in America is being absolutely shredded.  Today, most American families would be absolutely thrilled if they could live as well as past generations did.  The dream of receiving a solid education, getting a good job, owning a beautiful home and enjoying the good things that America has to offer is increasingly becoming out of reach for a growing number of Americans.  The reality is that even though our population has grown, there are less jobs than there used to be.  A much higher percentage of the jobs that remain are low income jobs.  Millions of middle class American families are desperately trying to hang on as inflation far outpaces the growth of their paychecks.  Millions of others have fallen completely out of the middle class and are now totally dependent on the government for survival.  We once had the largest, most vibrant middle class in the history of the world, but now way too much unemployment, way too much inflation, way too much greed and way too much debt are all starting to catch up with us.  America is changing, and not for the better.

When most of us were growing up, we understood that there was an unspoken promise that if we got good grades, stayed out of trouble, worked really hard and did everything we were told to do, the system would reward us.

Well, today there are millions of Americans that have done all of those things but don’t have anything to show for it.

As large numbers of hard working people continue to fall out of the middle class, there is a growing sense that “the system” has betrayed us all.

Sadly, the truth is that the U.S. economy is dying.  The endless prosperity that we all enjoyed in the past is gone and it is never going to come back.

The following are 34 pieces of evidence that prove that the middle class in America is rapidly shrinking….

#1 In 1980, 52 percent of all jobs in the United States were middle income jobs.  Today, only 42 percent of all jobs are middle income jobs.

#2 Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs.

#3 Only 63.5 percent of all men in the United States had a job last month.  According to Bloomberg, that figure is “just slightly above the December 2009 nadir of 63.3%. These are the lowest numbers since 1948.”

#4 In 1969, 95 percent of all men between the ages of 25 and 54 had a job.  Last month, only 81.2 percent of men in that age group had a job.

#5 According to one recent survey, 64 percent of Americans would be forced to borrow money if they had an unexpected expense of $1000.

#6 The wealthiest 1% of all Americans now control 40 percent of all the wealth in this country.

#7 The poorest 50% of all Americans now control just 2.5% of all the wealth in this country.

#8 The wealthiest 1% of all Americans now own over 50% of all the stocks and bonds.

#9 According to the Washington Post, the average yearly income of the bottom 90 percent of all U.S. income earners is just $31,244.

#10 The average yearly income of the top 0.1% of all U.S. income earners is 5.6 million dollars.

#11 Between 1969 and 2009, the median wages earned by American men between the ages of 30 and 50 dropped by 27 percent after you account for inflation.

#12 Only the top 5 percent of all U.S. households have earned enough additional income to match the rise in housing costs since 1975.

#13 During this economic downturn, employee compensation in the United States has been the lowest that it has been relative to gross domestic product in over 50 years.

#14 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980.  Today they account for approximately 16.3%.

#15 Total credit card debt in the United States is now more than 8 times larger than it was just 30 years ago.

#16 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million people to the population since then.

#17 Since the year 2000, we have lost approximately 10% of our middle class jobs.  In the year 2000 there were about 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.

#18 The competition for even the most basic jobs has become absolutely brutal.  Approximately 7 percent of all those that apply to get into Harvard are accepted.  At a recent “National Hiring Day” held by McDonald’s only about 6.2 percent of the one million Americans that applied for a job were hired.

#19 It now takes the average unemployed worker in America about 40 weeks to find a new job.

#20 According to a report released in February from the National Employment Law Project, higher wage industries are accounting for 40 percent of the job losses in America but only 14 percent of the job growth.  Lower wage industries are accounting for just 23 percent of the job losses but 49 percent of the job growth.

#21 Half of all American workers now earn $505 or less per week.

#22 The cost of college tuition in the United States has gone up by over 900 percent since 1978.

#23 In the United States today, there are more than 100,000 janitors and more than 317,000 waiters and waitresses that have college degrees.

#24 17 million college graduates are doing jobs that do not even require a college degree.

#25 According to one recent survey, 36 percent of Americans say that they don’t contribute anything at all to retirement savings.

#26 Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, one out of every 6 Americans is on Medicaid.

#27 As 2007 began, there were 26 million Americans on food stamps.  Today, there are more than 45 million Americans on food stamps, which is a new all-time record.

#28 The number of Americans on food stamps has increased 74% since 2007.

#29 Today, one out of every four American children is on food stamps.

#30 In 1980, just 11.7% of all personal income came from government transfer payments.  Today, 18.4% of all personal income comes from government transfer payments.

#31 The number of Americans that are going to food pantries and soup kitchens has increased by 46% since 2006.

#32 One out of every six elderly Americans now lives below the federal poverty line.

#33 In the United States, over 20 percent of all children are now living in poverty.  In the UK and in France that figure is well under 10 percent.

#34 According to the Federal Reserve, the richest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

As the middle class continues to shrivel up and die, the number of desperate people is going to continue to grow.

In the past, I have written extensively about how many Americans are already becoming so desperate that they will do just about anything for money.

Well, here are a couple more examples….

One unemployed man down in the Phoenix area that had reportedly robbed 12 banks told police the following about why he did it….

“I rob to survive.”

As millions more Americans fall into poverty, we are going to see a lot more crime.

Most of these people are not going to commit crimes because they enjoy them.  Rather, they will be doing what they feel they need to do in order to survive.

Not all of the shady activity will be so violent.  Desperation comes out in different ways.  For example, there are now actually websites where women advertise their “services” to potential “sugar daddies” that will help them with college expenses or support them financially.

Hopefully those reading this article will never resort to those kinds of things.

Yes, things are going to be tough, but there are always good alternatives if you are willing to look hard enough for them.

If you really need a job right now, pay close attention to the next couple of points.  Good jobs are very hard to come by in most areas at the moment, so you may have to be willing to make some sacrifices if you are desperate.

According to Bloomberg, there is a substantial shortage of truck drivers across the nation right now.

Driving a truck is really hard work, and it would take you away from home for extended periods of time, but the pay is pretty good.

If you are desperate for a job, this is something that you may want to look into.  There really is a shortage of truck drivers, and a paycheck is a paycheck.

Also, there are reportedly lots of jobs up in North Dakota right now.  Thanks to the oil boom up there, money is flowing and job opportunities are plentiful.

Just check out the following excerpt from a recent CNBC article about the employment boom going on in North Dakota right now….

Unemployment is a national problem in the U.S., but you wouldn’t know that if you travel through North Dakota.

The state’s unemployment rate hovers around 3 percent, and “Help Wanted” signs litter the landscape of cities such as Williston in the same way “For Sale” signs populate the streets of Las Vegas.

“It’s a zoo,” said Terry Ayers, who drove into town from Spokane, Wash., slept in his truck, and found a job within hours of arrival, tripling his salary. “It’s crazy what’s going on out here.”

Yes, it is really, really cold up in North Dakota.  There is very little housing available in the boom areas and for most of you it would require some significant sacrifices to take a job up there.

But there really are lots of jobs available up in North Dakota.  If you are desperate, you may want to really consider looking into it.

Now for the bad news.  Unfortunately, it is looking increasingly likely that we could have another major financial crisis some time fairly soon.

As I wrote about yesterday, Europe is a financial nightmare right now.  I honestly do not see any way that they are going to be able to fix things.

Fear is seemingly everywhere in Europe right now.  A recent article in The Telegraph entitled “Market crash ‘could hit within weeks’, warn bankers” postulated that we could be on the verge of a horrifying repeat of the financial crisis of 2008….

“The problem is a shortage of liquidity – that is what is causing the problems with the banks. It feels exactly as it felt in 2008,” said one senior London-based bank executive.

“I think we are heading for a market shock in September or October that will match anything we have ever seen before,” said a senior credit banker at a major European bank.

So you might want to try to get whatever kind of a job that you can right now before the next wave of the financial crisis hits.

Dark clouds are gathering on the horizon and things do not look promising.  The coming economic storms are going to be very hard on the middle class in America.

The number of good jobs is going to continue to decline and our paychecks are going to get stretched tighter and tighter.

The “system” is not going to save you.

The “system” is failing.

You better get ready.