Money

The Entire Banking System Is Shaking

November 27, 2023November 27, 2023 by Michael

Why are big banks suddenly rushing to shut down so many local branches all over the nation? As I have discussed in previous articles, U.S. banks are currently sitting on hundreds of billions of dollars in unrealized losses. When financial institutions get into trouble, they start getting really tight with their money and they start cutting costs. In addition to laying off workers, our banks have been cutting costs by permanently closing local branches. For example, between November 12th and November 18th, the sixth largest bank in the United States initiated filings to close 19 more local branches…

America’s sixth-largest bank, PNC, has confirmed the closure of 19 more branches nationwide, following a staggering 203 branch closures earlier this year. This decision, aligning with the bank’s shift towards digital banking, is raising concerns among customers who prefer traditional banking methods.

Scheduled for February 2024, the closures will primarily impact Pennsylvania, where the majority of branches marked for closure are located. However, several branches in other states, including Illinois, Texas, Alabama, New Jersey, Ohio, Florida, and Indiana, will also be shutting their doors, leaving customers in these regions with limited access to in-person banking services, The Sun reported.

Of course PNC has lots of company.

During that exact same week, several other prominent banks made similar moves…

JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts.

Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois.

Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California.

Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each.

Altogether, banks filed to shut down 64 branches.

Read that last sentence again.

In just one week, U.S. banks decided to shut down a total of 64 branches.

That is stunning.

What we are witnessing right now is a tsunami of branch closures.

Unfortunately, even more trouble is coming for our banks because the real estate industry is a total mess right now.

Existing home sales have fallen to depressingly low levels, and we just learned that new home sales in the U.S. dropped 5.6 percent last month…

New home sales in the United States fell in October as typical mortgage rates reached their highest levels this year.

Sales of newly constructed homes fell 5.6% in October to a seasonally adjusted annual rate of 679,000, from a revised rate of 719,000 in September, according to a joint report from the US Department of Housing and Urban Development and the Census Bureau.

Prices for new homes are falling as well…

So the median price of new single-family houses sold in October fell by 3.1% from September, to $409,300 (red line), the lowest since August 2021, down by 17.6% from a year ago, which had been the peak, according to data from the Census Bureau today. The three-month moving average is down by nearly 12% from its peak in December last year (green).

These are contract prices and do not include the costs of mortgage-rate buydowns and other incentives such as free upgrades. But they do reflect the lower price points due to smaller footprints and the “de-amenitizing.”

Meanwhile, the commercial real estate crisis just continues to intensify.

Just check out these new numbers that were released several days ago by Trepp…

The volume of CMBS loans that are classified as delinquent increased by 49.4% during the 10 months through October to $27.91 billion. That volume amounts to 5.07% of the $601.98 billion universe tracked by Trepp. In contrast, delinquencies at the end of last year amounted to 3.03% of the $616.15 billion universe then extant.

Wow.

It turns out that office buildings are the primary reason why delinquencies are rising at such an astounding pace…

The driver of the increase was the office sector, which had a 261% increase in delinquency volumes over the 10-month period through October. A total of 199 loans with a balance of $9.59 billion, or 5.91% of all CMBS office loans were at least 30 days late with their payments, as of the end of October. At the end of last year, 115 loans with a balance of $2.65 billion, or 1.63% of office loans, were delinquent.

The sector’s prospects are unlikely to improve as office occupancy rates have declined in most of the country’s major markets. That’s been driven by a substantial pullback in demand from office-using tenants.

All of this reminds me so much of what we witnessed in 2008.

When the real estate industry falls on hard times, a financial crisis is usually right around the corner.

Needless to say, it isn’t just U.S. banks that are in trouble right now.

Major banks all over the globe are getting hit really hard, and that includes Metro Bank in the UK…

Metro Bank shareholders have backed a multi-million pound rescue deal aimed at securing the bank’s future.

The vote was on a package the bank agreed last month to raise extra funds from investors and refinance debt. Metro’s share price had plunged in September following reports it needed to raise cash to shore up its finances.

In the days ahead, we are going to hear about a lot more banks that need to “shore up” their finances.

And it is inevitable that more banks will fail.

A number of people have asked me questions about their banks lately, and I have told them the same thing that I tell everyone.

It is never wise to put all of your eggs in one basket.

We are moving into a period of time that is going to be extremely chaotic, and so you don’t want to have all of your assets in a single place.

What we have seen so far is just the beginning. Our banks are going to get into even deeper trouble during the days ahead, and that is really bad news for all of us.

Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

About the Author: My name is Michael and my brand new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com. In addition to my new book I have written seven other books that are available on Amazon.com including “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending copies as gifts to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible. I have also started a brand new Substack newsletter, and I encourage you to subscribe so that you won’t miss any of my articles. I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is definitely a great help. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, I strongly urge you to invite Jesus Christ to be your Lord and Savior today.

Say Goodbye To The Middle Class: Half Of All American Workers Made Less Than $40,847.18 Last Year

November 26, 2023November 26, 2023 by Michael

If you are wondering why so many Americans are stressed about their finances these days, just look at the numbers. The Social Security Administration just released national wage statistics for 2022, and the figures that they have given us do not paint a pretty picture at all. In particular, we should all be deeply alarmed that the median wage earner brought home just $40,847.18 last year. That breaks down to about $3,400 a month, and that is before taxes. Needless to say, you cannot live a middle class lifestyle in America today on just $3,400 a month before taxes. So in most households more than one person must work, and in many cases more than one person is working multiple jobs.

During our current inflation crisis, the cost of living has been rising much faster than paychecks have, and this is squeezing American families like never before.

Right now, the national median price of renting a home is $1,978 a month, and so after paying rent on a home the average worker wouldn’t have much left over for anything else.

Meanwhile, actually owning a home is the most unaffordable that it has been since 1984…

Buying and paying for a house costs Americans more now than at any point in almost four decades. Thanks to strong demand and a limited supply of new homes – even as mortgage rates have more than doubled in the past year – it now takes nearly 41% of the median household’s monthly income to afford the payments on a median-priced home, according to research from Intercontinental Exchange (ICE). The last time housing payments cost that much was in 1984.

Of course it isn’t just the cost of housing that has gone crazy.

Just about everything has soared in price over the past few years, and those at the bottom of the economic food chain are being hit the hardest…

But when compared with January 2021, shortly before the inflation crisis began, prices remain up a stunning 17.62%.

Inflation has created severe financial pressures for most U.S. households, which are forced to pay more for everyday necessities like food and rent. The burden is disproportionately borne by low-income Americans, whose already-stretched paychecks are heavily impacted by price fluctuations.

If things are hard for you and your family right now, please understand that you are not alone.

Most of the country is in the exact same boat.

In a desperate attempt to maintain their middle class lifestyles, millions upon millions of Americans have been taking on debt like never before, and as a result we are now facing an unprecedented consumer debt bubble…

Inflation has also impacted spending on major purchases. Balances on non-housing loans have more than doubled since 2003, totaling roughly $4.8 trillion, according to data from the New York Federal Reserve. More than $500 billion of that debt accumulated just in the past two years – a bigger jump than any other two-year period since 2003, the earliest year available.

Some of that debt comes from skyrocketing car prices, but credit card balances are growing the fastest of all – roughly 34% from the fall of 2021.

Unfortunately, the consumer debt party is coming to an end because financial institutions are starting to become significantly tighter with their money.

A credit crunch has begun, and it is only going to intensify in the months ahead.

Of course that is more bad news for our rapidly shrinking middle class.

More formerly middle class Americans are falling into poverty with each passing day, and this is causing an alarming surge in demand at food banks from coast to coast…

As families across the nation prepare for the holiday season, some food banks across the United States dedicated to fighting hunger say they are experiencing an increase in demand following the end of pandemic-era SNAP benefits, an increase in inflation, and other regional factors.

Caroline De La Fuente helps care for her 16 grandchildren while their parents work to make ends meet and is one of the thousands of people who, according to data, depend on food banks. She told ABC News that without the San Antonio Food Bank, her family and others in the community wouldn’t eat.

“A lot of people would go hungry,” she said. “Kids would go hungry at night. People would not be able to celebrate Thanksgiving.”

The number of homeless Americans is spiking as well.

In fact, the Wall Street Journal has reported that homelessness in the United States has been increasing at the fastest pace ever recorded in 2023….

The U.S. has seen a record increase in homeless people this year as the Covid-19 pandemic fades, according to a Wall Street Journal review of data from around the country.

Yes, this is really happening.

The middle class really is coming apart at the seams right in front of our eyes.

And this is one of the reasons why so many people have such short fuses these days.

Even the smallest things can turn some people into raving lunatics at this point. For example, one woman actually drove her SUV into a Popeyes restaurant because an order of biscuits was missing…

A woman drove her SUV into a Georgia Popeyes building after the manager said she became angry over a missing order of biscuits Saturday, according to an incident report filed by the Richmond County Sheriff’s Office.

The manager said that prior to the crash, restaurant staff gave 50-year-old Belinda Miller biscuits to rectify the error, but she was still not happy and “…would drive her vehicle into the building.”

According to the incident report, a witness who allegedly waited in line with Miller told them to hurry and get their order “because she was coming back.”

Miller did return, according to the incident report, and allegedly drove her SUV into the chicken restaurant, narrowly missing an 18-year-old employee.

I wish that I could say that this was an isolated incident, but it isn’t.

There are so many crazy people running around out there, and you never know who will be the next one to totally lose it.

If things are this bad now, what is going to happen once the economy totally falls apart and our society descends into complete and utter chaos?

Economic conditions have deteriorated substantially in 2023, and I am entirely convinced that 2024 will be even worse…

Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

106.4 Million U.S. Adults Do Not Have A Job Right Now

November 20, 2023November 20, 2023 by Michael

19 months in a row! The Conference Board’s index of leading economic indicators has now fallen for 19 months in a row. When something happens for 19 consecutive months, that is definitely a trend. The economy is clearly in big trouble, and conditions are getting worse with each passing day. But the mainstream media continues to insist that the economy is doing just great. They tell us that inflation is low, but if it was still measured the way that it was back in 1980, the official rate of inflation would be well into double digit territory. And they tell us that the unemployment rate is low, but if honest numbers were being used the official rate of unemployment would be about 25 percent right now. There are highly qualified people that can’t even get an interview even though they are sending out hundreds and hundreds of resumes. What are they doing wrong?

Of course the truth is that they aren’t doing anything wrong. The employment market is far tighter than we are being led to believe, and that isn’t going to change any time soon.

When a working age American is not working, the government puts that individual into one of two categories.

Right now, there are only 6.5 million U.S. adults that are officially considered to be “unemployed”.

But another 99.9 million U.S. adults are considered to be “not in the labor force”. So they don’t count as being “unemployed”.

When you add those two numbers together, you get a grand total of 106.4 million U.S. adults that do not have a job right now.

At no point during the economic crisis of 2008 and 2009 did that number even reach 90 million.

So don’t let anyone convince you that unemployment is low.

The elite are trying to do their best to convince us that everything is just fine, but meanwhile the Conference Board’s index of leading economic indicators has now fallen for 19 months in a row…

A key measure of the direction of the U.S. economy fell for the 19th straight month and once again indicated that a recession is looming.

The leading economic index fell 0.8 percent in October, the Conference Board said Monday. The LEI is based on 10 indicators that tend to forecast the direction of the economy.

Economists had expected a milder decline of 0.8 percent.

The last time the index declined for 19 months in a row was during the Great Recession when it fell from the end of 2007 through 2009.

The last streak of this magnitude started in 2007.

But we didn’t have a recession in 2007.

And things still seemed relatively fine in early 2008 too.

Of course then we got to the end of 2008 and everything fell to pieces.

That is why they are called “leading” economic indicators.

They tell us what is coming.

And what is coming in our time is not going to be fun.

Needless to say, most of the population is not prepared at all for a major economic storm.

Survey after survey has shown that most of the U.S. population is currently living paycheck to paycheck…

The majority of U.S. adults are living paycheck to paycheck heading into this holiday season, a report shows.

LendingClub’s latest report shows that as of October, 60 percent of adults said they are living paycheck to paycheck. Around 40 percent of consumers consider themselves to be worse off now than in 2022.

Even higher earners are struggling to get by, with 42 percent of those making six figures also living check-to-check under President Joe Biden.

According to a separate CNBC survey, the number of adults struggling to save between checks is up from 58 percent in March.

As long as those paychecks keep coming in, they can keep scraping by from month to month.

But now layoffs are starting to surge again all over the nation.

Young Americans are in particularly dire straits.

Millions upon millions of young Americans have low paying jobs and are deeply struggling with student loan debt, and this is one of the reasons why the average age of a U.S. homebuyer just keeps going higher and higher…

The average American homebuyer is now 49-years-old – 18 years older than in 1981 – as inflation, college costs and house prices make it harder for young people to get a foot on the ladder.

Research by the National Association of Realtors has revealed that the median age of all homebuyers has steadily crept up over the past forty years.

The most shocking contrast is for first time buyers where the median age is now 35, up from 31 in 2013 and 29 in 1981.

The American Dream is now out of reach for most of the nation, and that is especially true among those that are under the age of 40.

But the mainstream media absolutely refuses to acknowledge the truth.

They just keep telling us that things look great for the U.S. economy in 2024 and beyond. The following comes from a Yahoo Finance article entitled “The election year economy looks good for Biden”…

The much-predicted recession still hasn’t arrived. Will it materialize in 2024, at the worst possible moment for President Joe Biden, as he’s trying to convince voters to give him a second term?

It’s not looking that way. As economists roll out their forecasts for 2024, the prevailing theme is moderation: slowing but still-positive economic growth, a declining rate of inflation, and continued low unemployment.

Seriously?

Come on man.

Do they actually expect us to consume that pablum?

We are already in an economic crisis right now, and things are going to get so much worse during the years ahead.

You can stick your head in the sand and pretend that everything is okay if you want.

But nothing is going to change the fact that the “endgame” has arrived.

Decades of very foolish decisions have brought us to this stage, and now we are truly going to reap what we have sown.

Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

11 Signs That U.S. Consumers Are In Very Serious Trouble As We Head Into The Final Stretch Of 2023

November 19, 2023November 19, 2023 by Michael

U.S. consumers are getting weaker and weaker and weaker. Today, debt levels have risen to unprecedented heights, but thanks to roaring inflation our standard of living has been steadily going down. Most Americans are working extremely hard, but they have very little to show for it. And now the latest economic downturn is really starting to bite. Layoffs are starting to surge again, once thriving businesses are shutting down all over the nation, and hunger and homelessness are exploding. If economic conditions continue to deteriorate at this pace, what will things look like a year from now?

For decades, we have been able to count on U.S. consumers to just keep spending money no matter what the economic outlook was, but now things have changed.

The following are 11 signs that U.S. consumers are in very serious trouble as we head into the final stretch of 2023…

#1 U.S. renters are spending 30 percent of their incomes just on rent…

Renters remained burdened in the U.S. during the third quarter of 2023 despite a slight improvement as insurance costs to landlords mounted, according to a new report by Moody’s Analytics.

Moody’s Analytics found that in Q3, the U.S. rent-to-income ratio (RTI) declined slightly by 0.5% and ended at 30%, a level that is the threshold for being rent-burdened. Renters are considered “burdened” if their rent payments consume 30% or more of their gross, or pre-tax, income. This comes after last year marked the first time that the median renter household in the U.S. paid over 30% of their income on an average-priced apartment when the national RTI reached a high of 30.8%.

#2 One food bank executive just told USA Today that she is seeing “the worst rate of hunger in my career” right now…

“This is the worst rate of hunger in my career,” said Morgan, who has worked at food banks in Boston, San Francisco and Anchorage, Alaska. “It’s so large, it’s hard to wrap your head around.”

#3 Wells Fargo just shut down 13 bank branches in a single week…

Six banks filed to close almost 40 branches last week leaving millions of Americans without access to vital financial services, with Wells Fargo alone axing 13 locations.

Wells Fargo has been a leader in the closure of branches around the country, having closed 160 in the first half of the year, according to data from S&P Global Market Intelligence.

#4 Average hourly earnings for all employees have fallen by 3.32 percent since Joe Biden entered the White House…

Millions of Americans have received a pay cut over the past two years thanks to high inflation, a blow to President Biden as he attempts to center his re-election campaign around “Bidenomics.”

The Labor Department reported Tuesday that average hourly earnings for all employees was $11.05 in October — a 3.32% decline from the $11.43 figure in January 2021, when Biden took office.

#5 Due to a lack of consumer demand, three different major Burger King franchisees have recently declared bankruptcy…

Premier Kings, a 172-unit Burger King franchisee whose owner died in 2022, declared bankruptcy protection, saying that operating losses even after the company closed restaurants forced the issue.

It’s the third time this year that a major Burger King operator has taken such a step, while several others closed restaurants around the country in the aftermath of the chain’s sales and profit challenges.

#6 Vice Media has announced that it will be laying off dozens of staffers…

Vice Media, the one-time digital media darling that has seen its value and influence greatly diminish in recent years, moved on Thursday to further hollow out its once prestigious news division, shutting down several shows and laying off dozens of staffers.

#7 According to Challenger, Gray & Christmas, almost 20,000 media jobs have already been eliminated this year…

Nearly 20,000 jobs have been eliminated across the media industry this year as of October, according to Challenger, Gray & Christmas.

#8 Amazon is laying off hundreds of workers in its Alexa division…

Amazon on Friday said that it is cutting “several hundred” jobs within its Alexa division.

The layoffs come as the e-commerce giant is “shifting some of our efforts to better align with our business priorities, and what we know matters most to customers —which includes maximizing our resources and efforts focused on generative AI,” an Amazon spokesperson confirmed to FOX Business.

#9 Just in time for the holidays, Citigroup has decided to conduct large scale layoffs…

Citigroup will soon begin layoffs in CEO Jane Fraser’s corporate overhaul, CNBC has learned.

Employees affected by the cuts will be informed starting Wednesday, with new dismissals announced daily through early next week, according to people with knowledge of the situation.

Those impacted will include chiefs of staff, managing directors and some lower-level employees, said the people. The cuts will spread to more rank-and-file staff by February, they added.

#10 As consumer wealth has dried up, federal tax receipts have been falling on a quarterly basis since the third quarter of 2022…

Rather, federal spending is rising even as federal revenues have fallen, year over year, for ten of the last twelve months. Moreover, on a quarterly basis, federal receipts have been falling—quarter-to-quarter—since the third quarter of 2022.

#11 80 percent of U.S. households are actually poorer than they were when the COVID pandemic originally hit this country…

As of June, the bottom 80% of households by income, when adjusted for inflation, had lower bank deposits and other liquid assets compared to their status in March 2020. The decline marks a significant shift from the initial phases of the pandemic, where various factors, including government financial support and restricted spending opportunities during lockdowns, led to an accumulation of excess savings.

Most Americans have been getting poorer, but the cost of living just keeps getting even more oppressive.

As a result, the middle class is literally being hollowed out.

The absolutely massive gap between the ultra-wealthy and everyone else has become an extremely pressing issue in this country, and it is going to lead to enormous civil unrest during the chaotic years that are ahead of us.

Our leaders were able to keep the economy propped up for a long time by injecting trillions of fresh dollars into the system.

But now the “endgame” has arrived, and it is going to be incredibly painful.

Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

The Bottom 80% Has Gotten Significantly Poorer Since The Pandemic Began, And This Is Creating A “Robin Hood Mentality” All Over America

November 16, 2023November 16, 2023 by Michael

The rich have been getting richer and the poor have been getting poorer, and this is causing all sorts of societal problems. Thanks to social media, the poor can see the incredible affluence that the wealthy are enjoying, and they are deeply envious. Of course it certainly doesn’t help that flaunting wealth has become one of the favorite pastimes of the wealthy. Many of them love to post photos and videos of their luxury lifestyles on their social media accounts, and that is not a good thing. Because times have not been good for most of the country. In fact, a brand new study from the Federal Reserve has discovered that the bottom 80 percent have “lower bank deposits and other liquid assets compared to their status in March 2020”…

As of June, the bottom 80% of households by income, when adjusted for inflation, had lower bank deposits and other liquid assets compared to their status in March 2020. The decline marks a significant shift from the initial phases of the pandemic, where various factors, including government financial support and restricted spending opportunities during lockdowns, led to an accumulation of excess savings.

In other words, the vast majority of all Americans have been getting poorer.

Meanwhile, the rich have just kept on getting even richer…

The Federal Reserve, along with Bloomberg calculations, identified a rapid drawdown of these excess savings, particularly stark among the lower-income groups. While all income groups have experienced a decrease in real-term cash balances from the peak in 2021, the disparity is noteworthy. The wealthiest one-fifth of households still have cash savings approximately 8% above their pre-COVID levels. In stark contrast, the poorest two-fifths have witnessed an 8% decrease, and the next 40% — broadly representing the middle class — have seen their cash savings fall below pre-pandemic levels.

Right now, the gap between the wealthy and the rest of us is the greatest that it has ever been in the entire history of our nation.

According to a different report that was just put out by the Labor Department, average hourly earnings are lower today than they were when Joe Biden first entered the White House…

Millions of Americans have received a pay cut over the past two years thanks to high inflation, a blow to President Biden as he attempts to center his re-election campaign around “Bidenomics.”

The Labor Department reported Tuesday that average hourly earnings for all employees was $11.05 in October — a 3.32% decline from the $11.43 figure in January 2021, when Biden took office.

And as the pace of layoffs picks up, soon millions of Americans won’t have a job to go to at all.

This week, we learned that Citigroup has begun large scale layoffs…

One of the U.S.’ top banks will begin massive layoffs on Wednesday in a corporate overhaul as the company seeks to trim its operating expenses to levels more in line with its competitors, according to CNBC.

Citigroup will begin cutting employees on Wednesday, with new terminations continuing to be announced through next week, affecting some chiefs of staff, managing directors and lower-level employees, according to CNBC. Following the initial round of layoffs, more employees in less senior positions are expected to be dismissed in February, with the layoffs being expected to be fully completed by March 2024.

And Stellantis has just announced that it has offered buyouts to approximately half of their salaried employees…

Stellantis, one of the Big Three U.S. automakers, on Monday offered buyouts to about half of its salaried employees as it looks to cut costs as it transitions to electric vehicles (EVs) and takes on increased costs from a new union contract.

The parent company of major car brands like Chrysler, Dodge, Jeep and Ram offered voluntary buyouts to about 6,400 of its roughly 12,700 salaried employees who aren’t represented by a union and have at least five years of experience. Employees who accept the incentive will depart the company before the end of December.

As economic conditions have deteriorated, crime has soared.

In recent days I have written about the shocking thefts that we are witnessing all over the nation, but this one tops them all…

This is the shocking moment a mob of 40 people looted a FedEx truck while it was stopped at a red light in Memphis, Tennessee.

Around 8:30pm Saturday, a 53-foot trailer was ransacked while it sat in traffic at the intersection of Riverport Road and West Mallory Avenue.

After the driver reported the theft, the Memphis police arrived and saw vehicles speeding away recklessly along with a number of boxes thrown across the road.

The FedEx truck had nowhere to go, because once it reached the intersection there were cars that suddenly moved into position to block it…

The truck driver told the police that cars blocked the intersection just before a group of men broke open the sealed back door and looted the trailer.

Three men have since been detained after the raging group caused nearly $10,000 in damages – and stole numerous items such as Kicker Speakers, a box of air liners and three DirectTV cable boxes.

In my brand new book entitled “Chaos”, I specifically warn people to avoid Memphis if at all possible.

It has become one of the most dangerous cities in the entire country.

But of course we are starting to see these sorts of crimes everywhere.

Large groups of people have decided that it is okay to take from the rich and the corporations that they control and give to the poor (themselves) because the rich probably exploited the poor to get their wealth in the first place.

This sort of “Robin Hood mentality” is extremely dangerous, and it is rapidly spreading.

And now we have an election season and a war in the Middle East to add fuel to the fire. On Thursday, a crazed group of protesters shut down the entire Bay Bridge…

A well-coordinated group of hundreds of Pro-Palestine protesters shut down the Bay Bridge on Thursday morning, tying up traffic during rush hour and calling out to world leaders to end the war in Gaza during the APEC summit.

The four-hour chaotic event, which started around 7:45 a.m., ended with at least 70 arrests and 29 towed cars. All lanes finally reopened just before noon, but not after at least 200 protesters had chained themselves together and purposefully tossed their car keys into the bay, stalling efforts to reopen the span to frustrated drivers.

Needless to say, this is just the beginning.

The war in the Middle East is going to continue to escalate, and 2024 will be the most chaotic election year that any of us have ever seen by far.

So buckle up and hold on tight, because we are going to see staggering levels of civil unrest and crime in 2024 and beyond.

Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

If We Don’t Start Locking Up The Criminals, We Are Literally Going To Have To Lock Up EVERYTHING

November 15, 2023November 15, 2023 by Michael

Crime is completely and utterly out of control in this nation. During the first six months of this year, retail theft was up 109 percent in the city of Los Angeles. In response to this tsunami of theft, retailers are starting to lock up products all over the nation. But if we don’t start locking up the criminals, we are literally going to have to lock up everything. Unfortunately, right now we cannot lock up all of the criminals, because the number of criminals far exceeds the number of empty spots in our prisons. Even though we have more people locked up than any other nation on the entire planet, our streets are still absolutely teeming with predators. This is what an advanced stage of social decay looks like, and it isn’t pretty.

During a recent interview with CNBC, the CEO of Target insisted that customers are thankful that the retailer is now locking up body wash, toothpaste and deodorant…

Still, the retailer’s CEO, Brian Cornell, claimed many shoppers are actually grateful to see their body wash, toothpaste and deodorant behind a glass panel.

On a media call with reporters discussing Target’s fiscal third-quarter earnings, CNBC asked Cornell if the retailer can quantify the sales lost from shoppers who are frustrated with waiting for employees to unlock cases in-store. He said the shopper response to the policy has been “positive.”

“Courtney, just in the last week I’ve been on the East Coast and on the West Coast in many of those stores that you’ve talked about where, items have been locked up,” he said. “And actually what we hear from the guests is a big thank you, because we are in stock with the brands that they need when they’re shopping in our stores. And because we’ve invested in team member labor in those aisles and make sure we’re there to greet that guest, open up those cases and provide them the items they’re looking for.”

The reason why customers are thankful that those products are locked up is because they would never be in stock if they weren’t locked up.

That is how bad our shoplifting epidemic has become.

As I mentioned the other day, CVS is even locking up toilet paper and paper towels…

Witness a CVS store in our nation’s capital, forced by rampant, serial theft to pull toilet paper and paper towels from the shelves, replacing them with framed photos of the missing products and a buzzer.

Customers trying to buy Charmin or Bounty must buzz to summon a clerk, who will (eventually) retrieve the precious commodity from a back room.

In other words, the capital of the most powerful nation in human history has been reduced to Third World-style security systems to sell basic goods.

Did you ever imagine that theft would become so rampant in America that stores would actually have to lock up toilet paper and paper towels?

Sadly, this is our country now.

This is where we are.

Even if every single product in every single store was locked up, predators would still target the delivery trucks.

On Sunday, thieves in the Washington D.C. area actually carjacked an entire UPS delivery truck…

An armed carjacking of a UPS truck in Prince George’s County was caught on a doorbell camera.

A UPS driver was out delivering packages Sunday when several suspects surrounded her, and took off with her truck in broad daylight.

Prince George’s County police say around 2 p.m., detectives responded to the 9000 block of Elk Avenue in the newly developed Westridge Westphalia neighborhood in Upper Marlboro.

The carjacking was caught on camera and FOX 5 got a look at the exclusive Ring doorbell footage.

We have never seen thieves be as bold as they are right now.

In San Francisco, a Czech news crew that was there to cover the APEC summit was robbed at gunpoint…

Czech TV journalist Bohumil Vostal found himself in a tense situation as he aimed to capture a striking scene: the renowned City Lights bookstore in San Francisco, immersed in the dimming twilight.

Vostal and his cameraman fell victim to a harrowing robbery, orchestrated by three masked assailants wielding guns. The incident, occurring at 5 p.m. on Columbus Avenue, resulted in the theft of equipment and valuable footage worth over $18,000. The perpetrators targeted the journalists despite the heightened international attention drawn by the APEC summit, which gathered leaders from 21 economies.

The entire world is shocked by the crime and depravity that we allow to run wild in our streets.

And if you think that things are bad now, just wait until economic conditions get really bad.

When millions of Americans cannot even provide the basics for themselves and their families, we will witness much worse theft than we are seeing now.

Resources just keep getting tighter and tighter, and the outlook for the years ahead is very alarming. For example, the size of the U.S. beef cow herd has fallen to the lowest level since 1962, and it is being projected that it will “continue shrinking” for several more years…

Brazilian processor Marfrig Global Foods SA warned the US cattle herd will continue shrinking through the midpoint of the decade. Less supplies will pressure meatpackers and keep the prices of steak and hamburgers at elevated levels.

During a conference call, Tim Klein, the head of Marfrig’s North American operation, explained the availability of fattened animals for meatpackers to slaughter and process should trough between 2025 and 2026. He said this is because ranchers have not yet started keeping cows for breeding.

As we’ve noted, years of drought and high feed costs forced ranchers across the Midwest to send the cows to slaughterhouses, leading to a sharp reduction in the nation’s overall herd size. In January, the beef cow herd size was the smallest since 1962.

We really are moving into unprecedented times.

But most Americans don’t want to hear this.

Most Americans want to hear that everything is going to be just great.

If you are one of those people, just keep drooling over the latest gossip about Taylor Swift and Travis Kelce or whatever else you are obsessing over these days.

But ignoring the social decay that is ripping our nation apart is not going to make it go away.

Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

Conditions Are “Drier Than The Dust Bowl Years” In The Heartland Of America

November 14, 2023November 14, 2023 by Michael

The seemingly endless drought in the heartland of America is not going to be good for food production. For years, I have been relentlessly warning my readers that Dust Bowl conditions would return to the middle of the country. And now, Dust Bowl conditions have returned to the middle of the country. In fact, as you will see below, it is being reported that conditions are “drier than the Dust Bowl years” in some parts of Iowa. If the heartland of America doesn’t start getting more precipitation, we are going to be facing some enormous problems in the years ahead.

According to drought. gov, half of the Midwest is experiencing drought right now, and things are particularly dire in the state of Iowa…

94% of Iowa is currently in drought, with 24% in extreme drought (D3). Despite decent improvement over the last month, drought is still impacting 68% of Wisconsin and 58% of Minnesota.

Needless to say, the heartland of America produces much of our food.

So it should deeply concern all of us that communities all over the Midwest are starting to run out of water…

The southeast Kansas city of Caney will run out of water by March 1 without rain, officials said. Its school district has moved to a four-day week to conserve water. Four wells in Belle Plaine, Iowa, are producing 40% as much water as usual. Residents of Osceola, near Des Moines, can be fined $65 or more if they defy water restrictions.

Residents in many towns aren’t allowed to wash their cars. Port-a-potties have replaced some public bathrooms.

“We’re hoping it just rains,” said James Rainbolt, manager of a wholesale water plant that supplies parts of four counties in southern Kansas. “We’re at the mercy of the weather.”

Ultimately, we are all at the mercy of the weather.

Despite all of our advanced technology, we remain highly vulnerable to shifting weather patterns.

And at this moment we are being told that some parts of Iowa are literally “drier than the Dust Bowl years”…

Two counties in Iowa have had the driest three-year period on record, going back at least to the 1890s, he said.

“Drier than the Dust Bowl years,” he said.

Dozens of other communities are “carefully watching well levels and streams,” Hall said, “trying to make sure they don’t end up in the same situation as Belle Plaine or Osceola,” which are experiencing water shortages.

As a result of the extremely dry conditions, major dust storms are becoming increasingly common in the Midwest.

Earlier this year, a colossal dust storm in Illinois actually caused a vehicle pileup that involved dozens of motorists…

Gusting winds in the Midwestern United States have kicked up a fatal dust storm, reducing visibility to zero and triggering a major vehicle pileup that killed at least six people on an Illinois highway.

More than 30 additional motorists, from ages 2 to 80, were hurt in the crash as a result of Monday’s storm, according to Illinois state police. Their injuries ranged from minor to life-threatening.

The lack of precipitation is also causing enormous headaches all along the Mississippi River, and authorities are warning that this is not likely to change any time soon…

Lack of rain brought drought to much of the Mississippi River basin early this summer, and it’s likely going to linger into winter, Army Corps of Engineers leadership said during a press conference on Nov. 8 in Memphis, while a dredge was working nonstop to keep the river channel open a few miles south.

It’s the second year in a row that extreme drought has caused a shrinking channel, forcing the Corps to dredge later in the season than normal. Last year, low river levels lingered into the winter, and dredging continued until January.

It’s shaping up to be the same this year.

Welcome to the “new normal” along the Mississippi River.

And considering the fact that so much of our food is transported on vessels that use the Mississippi River, this is a big problem for all of us.

Of course drought is just one of the factors that has been depressing food production in this nation. Overall, natural disasters “caused $21.5 billion in agricultural losses” in the United States last year…

Research from the American Farm Bureau Federation suggests that nationwide, natural disasters caused $21.5 billion in agricultural losses last year. Only about half of those were protected by insurance, the majority of which is sold through federally-backed programs. Their payouts to farmers have increased over 500 percent in the last two decades.

That number is almost certainly going to be even larger this year.

And this is one of the reasons why food prices are going to continue to go up no matter what our leaders choose to do.

Food production is being hammered from one direction after another, and this is happening at a time when global supplies of food are becoming tighter and tighter.

So I hope that you decided to stock up on food while prices were still relatively low.

Because they are a lot higher now, and it won’t be too long before they reach exceedingly painful levels.

Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

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