Money

People Are Going To Go Absolutely Insane When Food Prices Double Or Triple From Current Levels

August 14, 2022August 14, 2022 by Michael

If you think that people are getting pretty crazy now, just wait until the cost of food skyrockets to levels that hardly anyone ever anticipated. Most people don’t realize this, but to a very large degree we are still eating the food that was grown in 2021. Unfortunately for all of us, far less food is being grown in 2022 than originally projected, and that is going to cause immense global stress in 2023. Nightmarish droughts are absolutely devastating crops in the United States and Europe, the major war that is happening on the other side of the globe is greatly restricting the flow of agricultural goods from Ukraine, and the fact that some fertilizers have now more than quadrupled in price is deeply affecting farmers all over the planet. In 2023, there is going to be a lot less food to go around, and we are all going to pay a lot more for it. Needless to say, this is not good news.

Of course the cost of living has already gotten completely out of control. According to Zero Hedge, the median rent in the United States has now surpassed $2,000 a month for the very first time…

The cost of rent in the U.S. is moving higher at the highest pace in three decades, the report notes, blowing past a median of $2,000 per month for the first time ever. Rents are now above where they were prior to the pandemic in most major cities.

Areas just outside cities, which saw a large influx of new renters during the pandemic, have seen their rents rise disproportionately higher. People returning to large cities, post-pandemic, have also not helped prices cool off.

Who can afford to pay $2,000 a month for rent?

According to the Social Security Administration, the median yearly income for U.S. workers in 2020 was just $34,612.04.

No wonder most families need to have more than one income just to survive these days.

This is what I mean when I say that our standard of living is being systematically destroyed.

Many people have to work as hard as they possibly can just to pay the bills each month.

Yes, the top 10 percent are still doing well, but the vast majority of the country is really struggling.

And that is why the soaring price of food is such a big deal right now. The latest numbers that we just got from the government tell us that the cost of “food at home” has been rising at the fastest rate since 1979…

The food-at-home index, which represents food purchased in places like grocery stores for consumption at home, jumped by an annual 13.1 percent, which is the fastest pace since March 1979.

“Consumers are getting a break at the gas pump, but not at the grocery store,” Bankrate Chief Financial Analyst Greg McBride told The Epoch Times in an emailed statement. “Food prices, and especially costs for food at home, continue to soar, rising at the fastest pace in more than 43 years.”

But the truth is that we haven’t seen anything yet.

What we see at the grocery store right now is largely a reflection of what happened last year.

Let me give you an example that illustrates what I am talking about.

In the last few days, the mainstream media has been buzzing about the fact that there is now a potato shortage in Idaho. But what most people don’t realize is that this shortage was caused by a tremendous heat wave that happened last summer…

Idaho has a potato shortage. If you haven’t heard about it already or noticed fewer and fewer potatoes in your grocery store’s produce section, you will soon.

So, what’s the problem? The weather. Not this year’s weather, mind you. It’s the weather from over a year ago that’s to blame.

“I’m not sure if you remember last June, but we had some just unbelievably hot temperatures here in Idaho. It did a number on our potato crop,” said Jamey Higham, president and CEO of the Idaho Potato Commission. “And so, our yields were significantly down last year.”

So did you catch that?

A bad harvest in 2021 is now being felt in the latter stages of 2022.

Looking ahead, what our farmers are experiencing right now will be felt very keenly in 2023.

For example, it is being reported that the price of some fertilizers has now more than quadrupled…

“Last year [fertilizer] was around $270 per ton and now it’s over $1,400 per ton,” Meagan Kaiser, of Kaiser Family Farms and farmer-director of the United Soybean Board, told NBC’s “Nightly News with Lester Holt.”

“It’s scary. It turns my stomach a little bit to think about the amount of risk that our family farm is taking right now.”

Farmers are finding themselves forced to pass some of those costs along to customers, resulting in higher grocery prices.

When those cost increases get passed along to us in 2023, a lot of people are going to be screaming bloody murder.

But at least we will have food to eat. On the other side of the globe, there simply will not be enough food for everyone.

For years, I have been trying to explain that global famines would inevitably be coming, but I still don’t think that it is sinking in for many people out there.

And of course famine is just one of the elements of “the perfect storm” that we are now facing. Recently, Egon von Greyerz listed some of the other major elements…

Debts at levels that can never be repaid – sovereign, corporate & private
Epic global bubbles in stocks, bonds & property – all about to collapse
Major geopolitical conflicts with no desire for peace – major wars likely
Energy imbalances and shortages, most self inflicted
Food shortages leading to major famine and civil unrest
Inflation, leading to hyperinflation & global poverty

We have got a giant mess on our hands.

And conditions are going to get worse and worse and worse in the months ahead.

As things deteriorate, a lot of people out there are going to go completely nuts.

In fact, a lot of people are already going completely nuts. Let me give you an example that just happened…

An unidentified man reportedly set his car on fire by driving into a U.S. Capitol barricade early Sunday morning. He then got out of his car and began firing a weapon indiscriminately before shooting himself, police say.

U.S. Capitol police say officers immediately responded when they heard the sound of gunfire at roughly 4 a.m. There were no reported injuries aside from the driver.

The only reason you would do something like that is if you have lost all hope.

And in the months and years ahead, much of the general population will lose all hope.

Let us endeavor to be beacons of hope, because hope will be greatly needed during the times that are in front of us.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com. In addition to my new book I have written five other books that are available on Amazon.com including “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, “Get Prepared Now”, 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 digital copies as gifts through Amazon 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 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 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 ask Jesus to be your Lord and Savior today.

A Horrifying Drought Is Causing Widespread Crop Failures Throughout The United States And Europe

August 11, 2022August 11, 2022 by Michael

We really are reaching a major crisis point. Thanks to soaring fertilizer prices, insane weather patterns and the war in Ukraine, global food supplies have been getting tighter and tighter. So we really needed a banner year for agricultural production in both the United States and Europe in 2022, and that is not going to happen. In fact, unprecedented drought is absolutely devastating crops all over the northern hemisphere. A lot of people are complaining about how high food prices are right now, but just wait. If some sort of a miracle doesn’t happen, agricultural production is going to be way below expectations in both the United States and Europe, and that is going to have very serious implications for 2023.

Let me start by talking about the nightmare that is starting to unfold in Europe.

According to CNN, it is now being projected that farmers in Italy have lost “up to 80% of their harvest” because the drought has become so severe…

In Italy, farmers in some parts of the country have lost up to 80% of their harvest this year due to severe weather anomalies, the Coldretti farming association said Thursday.

How are those farmers going to survive?

Many farmers in France are facing similar losses because they have only been receiving a fraction of the rainfall that they normally get…

In France, where an intense drought has hammered farmers and prompted widespread limits on freshwater use, there was just 9.7 millimetres (0.38 inches) of rain last month, Meteo France said.

That was 84 percent down on the average levels seen for July between 1991 and 2022, making it the driest month since March 1961, the agency added.

Crop failures in France would be a really, really big deal, because France is normally “the fourth-largest exporter of wheat” in the entire world…

France is the fourth-largest exporter of wheat and among the top five exporters of maize globally. Poor harvests due to drought may heap further pressure on grain supplies after Russia’s invasion of Ukraine caused global shockwaves.

The situation in Germany is also extremely dire.

It is being reported that things are already so bad that some sections of the Rhine River have dropped to dangerously low levels…

Germany’s most-important river is running dry as Europe suffers through a drought that is on course to become its worst in 500 years, with terrifying wildfires burning once again in France.

Water levels in the Rhine – which carries 80 per cent of all goods transported by water in Germany, from its industrial heartlands to Dutch ports – are now so low that it could become impassable to barges later this week, threatening vital supplies of oil and coal that the country is relying upon as Russia turns off the gas tap.

Of course the U.S. is dealing with severe drought too.

According to the U.S. Drought Monitor, about half of the nation is experiencing some level of drought at this moment, and we are being told that the ongoing megadrought in the Southwest is the worst in 1,200 years.

Things are particularly bad in Texas. If you can believe it, Dallas just had a stretch in which they had no measurable rain at all for two straight months…

The daily highs in Dallas have been 95 degrees or higher for three straight weeks, much hotter than normal for this time of year. The Dallas-Fort Worth area has even more problems amid an extreme drought going as far back as May 17. One hundred percent of Dallas County is in an extreme drought, while 21 percent of the whole state is experiencing exceptional drought — the most intense category of drought — according to the U.S. Drought Monitor.

A 67-day stretch with no measurable rain came to an end in Dallas on Wednesday when 0.41 of an inch of rain fell. That was the second-longest dry streak at Dallas-Fort Worth Airport. The standing record was 85 consecutive days that spanned much of the summer of 2000.

The lack of moisture has been crippling for the state’s absolutely massive agriculture industry. There are 247,000 farms and ranches in Texas, and nearly all of them are deeply suffering right now…

The drought pressing Texas’ agriculture industry — which is responsible for 10 percent of the state’s gross domestic product — is pushing farmers and ranchers to the brink. The state’s 247,000 farms and ranches covering 127 million acres haven’t had a whole year of rain since 2017. Almost 24 million of Texas’ population lives in drought-facing areas.

As of the first of August, less than 1 percent of the state was not facing some level of drought or abnormal dryness.

At this point, conditions are so dry in Texas that many ranchers have been forced to “panic sell” their herds. For much more on this, please see my previous article entitled “Ranchers Are Selling Off Their Cattle In Unprecedented Numbers Due To The Drought, And That Has Enormous Implications For 2023”.

Other states in the Southwest are also being hit extremely hard by this drought.

Over in Utah, the size of the Great Salt Lake just continues to get smaller and smaller due to the relentlessly dry conditions…

The warm arid desert in the West certainly had its fair share of the summer heat. Salt Lake City International Airport recorded a high of 100 degrees on July 28, marking the 16th day that month of triple-digit temperatures and breaking the previous record of 15 in July 1960. Last month, the city tied its record for the hottest recorded temperature of 107 degrees for the fourth time, according to NOAA weather data. The other occasions on which the mercury rose to 107 in Salt Lake City were in June 2021, July 2002 and July 1960. Record-keeping began there in 1874.

That intense heat hasn’t just made the residents of Utah sweat though — it has also magnified the ongoing megadrought, which has contributed to the dire state of the Great Salt Lake. Between July 2021 and 2022, the average daily water level of the lake dropped by about one foot, a historic low, and is expected to fall even farther.

There have always been times of drought all throughout history, but in modern times we have never seen the United States and Europe simultaneously experience such a severe drought for such an extended period.

For years I have been warning that we are moving toward a time when global famines will become quite common, and widespread crop failures throughout the western world this year would greatly accelerate that process.

We are being told that a child dies every 11 seconds from malnutrition.

But as food supplies get tighter and tighter, global hunger is going to get far, far worse than it is now.

In 2023, there simply is not going to be enough food for everyone.

I hope that you are getting prepared for that, because next year is just around the corner.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

The Price Of Eggs Is Up 47 Percent As Food Costs In The U.S. Spiral Out Of Control

August 10, 2022August 10, 2022 by Michael

Now they are trying to convince us that dramatically higher prices are good news. Are you kidding me? Our standard of living is being systematically destroyed, and more Americans are falling out of the middle class with each passing day. The government just announced that in July the consumer price index was 8.5 percent higher than it was the previous July. Of course many have challenged the value of the inflation numbers that the government is giving us because the way inflation is calculated has been changed many times over the years. As John Williams of shadowstats.com has pointed out, if the rate of inflation was still calculated the way that it was back in 1980 it would be far higher than anything that we experienced during the Jimmy Carter era of the 1970s. You can spin that any way that you want, but it is still a raging national crisis.

Yes, energy prices in the U.S. have fallen a bit, and many Americans are very thankful for that.

This reprieve won’t last indefinitely, and so don’t celebrate too much.

Meanwhile, food costs continue to spiral out of control…

“The food index increased 10.9 percent over the last year, the largest 12-month increase since the period ending May 1979,” BLS said.

Some grocery store items have seen prices rise even faster, though.

“The food at home index rose 13.1 percent over the last 12 months, the largest 12-month increase since the period ending March 1979,” BLS said. “The index for other food at home rose 15.8 percent and the index for cereals and bakery products increased 15.0 percent over the year. The remaining major grocery store food groups posted increases ranging from 9.3 percent (fruits and vegetables) to 14.9 percent (dairy and related products).”

Those numbers are absolutely abysmal.

I am sure that you have noticed that prices are going up when you visit the grocery store. Personally, I still remember the days when I could fill up an entire shopping cart full of food for just 25 dollars.

What will 25 dollars get you today?

In the old days, eggs were always a fairly inexpensive option, but the government is telling us that the price of eggs has risen 47 percent over the past year…

Inflation is wreaking havoc on breakfast, with egg prices at grocery stores soaring a whopping 47% in July over last year, according to retail analytics firm Information Resources Inc.

47 percent!

That is nuts.

Of course the bird flu pandemic that has killed tens of millions of our chickens is the primary reason for that price spike.

As I detailed a few days ago, a number of major problems have combined to create a “perfect storm” for global food production. The war in Ukraine, skyrocketing fertilizer prices and extremely bizarre weather patterns are just some of the reasons why global food supplies are getting tighter and tighter.

So the truth is that food inflation is not going away any time soon.

In fact, I expect global food prices to be substantially higher in 2023 because food production all over the planet will be way below expectations in the months ahead.

We could handle rising prices if our paychecks were going up just as fast.

Needless to say, that isn’t happening. As Zero Hedge has pointed out, real average weekly earnings are “now down 16 straight months as inflation eats away at any wage gains”.

So even the highly manipulated numbers that the government is giving us show that our standard of living has been falling for 16 months in a row.

Ouch.

In the months ahead, I expect this trend to accelerate. It is being projected that heating costs are going to greatly accelerate all over the western world, and that is certainly not going to help matters.

This will be particularly true over in Europe. Becoming so dependent on Russian natural gas was a very foolish thing to do, and now the war in Ukraine has changed everything.

For example, over in the UK it is being projected that absurdly high heating bills will push a significant proportion of the population into financial hardship this winter. The following comes from CNN…

Nearly one third of households in the United Kingdom will face poverty this winter after paying energy bills that are set to soar again in January, campaigners say.

About 10.5 million households will be in fuel poverty for the first three months of next year, according to estimates from the End Fuel Poverty Coalition (EFPC) published on Tuesday — meaning that their income after paying for energy will fall below the poverty line.

The UK is supposed to be one of the wealthiest nations on the entire planet.

But thanks to the war in Ukraine, household energy bills are about to soar to absolutely unprecedented heights…

The predictions are based on new estimates from research firm Cornwall Insight, also published Tuesday, which show that the average household energy bill is expected to hit £3,582 ($4,335) a year from October, and £4,266 ($5,163) from January — equating to about £355 ($430) a month.

If the war in Ukraine is causing this much pain, what will happen to global energy markets when Iran and Israel go to war?

And what will happen when the United States goes to war with China?

I keep trying to sound the alarm, because it is just a matter of time until those conflicts also erupt.

Meanwhile, food production all over the planet will continue to be ravaged by drought, floods, crippling fertilizer costs and persistent global supply chain problems.

Our leaders told us that inflation would just be “transitory”, but that turned out to be totally false.

Now they are telling us that next year will be better.

You can believe that if you want.

But right now global food production is being hit by major crisis after major crisis, and as a result food prices are likely to continue their upward spiral for quite some time to come.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

This Is The Real Reason Why They Raided Mar-a-Lago

August 9, 2022 by Michael

No matter where you fall on the political spectrum, you should be absolutely horrified by what the FBI just did. When one political party weaponizes the law in order to crush their main opposition, the legitimacy of the government disappears. At this point it is clearer than ever that the United States has become a banana republic, and it greatly pains me to say that. From the time of the Founding Fathers up to today, so many Americans have sacrificed so much for our once great nation. But now we are the generation that gets to witness the death of the American experiment.

When I hear Democrats say that “nobody is above the law”, it makes me laugh.

How do you think the Bidens and the Clintons have stayed out of prison all these years?

Of course they are above the law.

But all of our other politicians have broken the law at some point too. We literally have more laws, rules and regulations than any other society in the history of the world has had. So if you look close enough, you will find that everyone has slipped up somewhere.

Needless to say, the vast majority of the time that our politicians violate the law, there are no consequences. If they are good boys and girls and go along with the program, they will generally be left alone.

However, those that prove to be serious threats to the establishment are singled out. It is all about selective enforcement. In recent years we have seen this pattern play out repeatedly, and now it is happening again.

They aren’t going after Donald Trump because he is guilty and everyone else in Washington is innocent.

Rather, they are going after Donald Trump because they think that they have found a way to keep him from ever running for president again. The following is what 18 U.S. Code § 2071 says…

(a)Whoever willfully and unlawfully conceals, removes, mutilates, obliterates, or destroys, or attempts to do so, or, with intent to do so takes and carries away any record, proceeding, map, book, paper, document, or other thing, filed or deposited with any clerk or officer of any court of the United States, or in any public office, or with any judicial or public officer of the United States, shall be fined under this title or imprisoned not more than three years, or both.

(b)Whoever, having the custody of any such record, proceeding, map, book, document, paper, or other thing, willfully and unlawfully conceals, removes, mutilates, obliterates, falsifies, or destroys the same, shall be fined under this title or imprisoned not more than three years, or both; and shall forfeit his office and be disqualified from holding any office under the United States. As used in this subsection, the term “office” does not include the office held by any person as a retired officer of the Armed Forces of the United States.

If they can convict Trump under this section, he will be permanently banned from the presidency.

And that is exactly what they want.

This is the first time in history that the private home of a former president has ever been raided, and Trump is absolutely horrified that this has happened…

“Nothing like this has ever happened to a President of the United States before. After working and cooperating with the relevant Government agencies, this unannounced raid on my home was not necessary or appropriate,” Trump said. “It is prosecutorial misconduct, the weaponization of the Justice System, and an attack by Radical Left Democrats who desperately don’t want me to run for President in 2024, especially based on recent polls, and who will likewise do anything to stop Republicans and Conservatives in the upcoming Midterm Elections.”

“Such an assault could only take place in broken, Third-World Countries. Sadly, America has now become one of those Countries, corrupt at a level not seen before,” Trump said, alleging that the FBI agents broke into his safe.

I don’t blame him.

I would be horrified too.

They didn’t even treat Richard Nixon like this.

And some prominent Democrats are drooling with glee over the prospect that Trump could eventually end up in prison…

Donald Trump is probably the target of a criminal investigation and the raid on his Mar-a-Lago mansion shows it, a former acting US Solicitor General has said.

Neal Katyal, who was appointed by Barack Obama to represent the government in front of the Supreme Court between 2010 and 2011, told MSNBC on Monday night that if he were Trump’s lawyer, he would be telling him to ‘prepare for jail time’.

It isn’t enough for them just to defeat Trump politically.

They want to destroy him, just like they have destroyed so many others.

These guys are playing hardball. After experiencing four years of Trump in the White House, they want to make absolutely certain that such a “mistake” never, ever happens again.

So the full power of the FBI and the Justice Department are now being directed at Trump, and they aren’t going to show any mercy.

In light of what has just transpired, a statement that Attorney General Merrick Garland made recently now sounds even more ominous…

As Garland recently said, federal prosecutors are now engaged in the “most wide-ranging investigation and the most important investigation that the Justice Department has ever entered into…We have to get this right.”

They aren’t going to stop until they win.

And if “another Trump” arises, they will give that individual the same treatment.

If you love this country, what we are witnessing should deeply sadden you.

Our system of government was once an inspiration to people all over the globe, but now it is starting to come apart at the seams at a staggering rate.

If corruption wins, there will be no future for our system of government, and that should greatly alarm all of us.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

China Just Made A Move That Could Literally Provoke A Major War With The United States

August 8, 2022August 8, 2022 by Michael

If the Chinese don’t end their blockade of Taiwan, the Biden administration will be under immense pressure to respond. So let us hope that cooler heads prevail in China and that a decision is soon made to end the pointless “military exercises” that the Chinese are currently conducting. When the live-fire drills were first announced, we were told that they would last for only four days. That was supposed to be it. On Monday, they were supposed to go home. But that didn’t happen. Instead, on Monday the Chinese announced that the military exercises in the waters off Taiwan would be extended, and no new end date was given…

China said Monday it was extending threatening military exercises surrounding Taiwan that have disrupted shipping and air traffic and substantially raised concerns about the potential for conflict in a region crucial to global trade.

The exercises would include anti-submarine drills, apparently targeting U.S. support for Taiwan in the event of a potential Chinese invasion, according to social media posts from the eastern leadership of China’s ruling Communist Party’s military arm, the People’s Liberation Army.

This move by China crosses a very important line.

The Chinese have essentially established a “maritime and aerial blockade” around Taiwan, but it was only supposed to last from Thursday to Sunday…

The Chinese military designated six closure areas, one of which is merely 12 miles from Taiwan’s southern shipping hub of Kaohsiung. Beijing also warned commercial airliners to avoid wide swaths of airspace around Taiwan, in what amounts to a no-fly zone over major flight routes. Even though China portrays this as a step short of total encirclement, Taiwan’s defense ministry describes it as “a maritime and aerial blockade.”

A four day blockade wouldn’t have been that big of a deal.

But a full blown “maritime and aerial blockade” that lasts for weeks or even months is clearly an act of war.

Taiwan relies on food and essential supplies from the outside world. If commerce is severely restricted or cut off completely, life on the island will radically change.

And the pressure on the Biden administration to “do something” will become enormous.

Of course it is still possible that the Chinese could decide to go home at some point this week.

And let us hope that actually happens.

But right now both sides continue to escalate matters.

For example, in response to the Chinese “drills”, the Taiwanese have decided to conduct live-fire exercises of their own…

Meanwhile, Taiwan’s official Central News Agency reported that Taiwan’s army will conduct live-fire artillery drills in southern Pingtung county on Tuesday and Thursday, in response to the Chinese exercises.

The drills will include snipers, combat vehicles, armored vehicles as well as attack helicopters, said the report, which cited an anonymous source.

That certainly won’t ease tensions.

And members of the U.S. Senate are publicly calling for more economic and military aid for Taiwan…

In an appearance on CNN’s “State of the Union,” Sens. Lindsey Graham (R-S.C.) and Richard Blumenthal (D-Conn.) backed the House speaker’s travel to Taiwan and tied the two foreign policy issues together — warning that China is watching how the U.S. continues to respond to Russia’s attack on Ukraine as the war nears its sixth month.

Graham directed his message directly at China and pushed for the passage of the bipartisan Taiwan Policy Act, which is aimed at bolstering Taiwan economically and militarily.

The Chinese are going to interpret this as a threat. It has become quite obvious that many prominent members of Congress consider Taiwan to be analogous to Ukraine, and that is definitely not going to help matters.

On top of everything else, it has been announced that U.S. forces will actually be participating in war games very close to India’s disputed border with China later this year…

The US will participate in war games with the Indian military in an area of India that is less than 62 miles away from the country’s disputed border with China, known as the Line of Actual Control (LAN).

The drills will be held from October 18-31 and will be the eighteenth iteration of annual exercises between the two militaries known as Yudh Abhyas, which is Hindi for “war practice.” They will be held in the Auli area of the Indian state of Uttarakhand in the Himalayas mountain range.

For years, I have been relentlessly warning that a war with China was coming, but my hope is that cooler heads will prevail and that this current crisis can be resolved peacefully.

Because a shooting war with China would instantly change all of our lives for the worse.

If we go to war with China, shipments of the thousands upon thousands of products that we currently receive from China would immediately cease.

And if the Pacific Ocean becomes a war zone, trade with other Asian powers such as Japan and South Korea would be paralyzed as well.

In addition, Taiwan produces more of our microchips than everyone else in the world combined…

In particular, Taiwan’s position in the world of semiconductor manufacturing is a bit like Saudi Arabia’s status in OPEC. TSMC has a 53% market share of the global foundry market (factories contracted to make chips designed in other countries). Other Taiwan-based manufacturers claim a further 10% of the market.

As a result, the Biden administration’s 100-Day Supply Chain Review Report says, “The United States is heavily dependent on a single company – TSMC – for producing its leading-edge chips.” The fact that only TSMC and Samsung (South Korea) can make the most advanced semiconductors (five nanometres in size) “puts at risk the ability to supply current and future [US] national security and critical infrastructure needs”.

If China invades Taiwan, the global flow of microchips would permanently be reduced to a trickle.

I don’t think that I even have the words to describe what that would do to the global economy.

The stakes are incredibly high, and our leaders should be doing all that they can to avoid a needless war with the Chinese.

Unfortunately, our leaders are not exactly what you would call “competent” at this point, and we could soon find ourselves involved in pointless conflicts with the Russians and the Chinese at the same time.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

A New Survey Has Just Discovered That This Is The Most Pessimistic That Americans Have Been About The Economy Since 2008

August 7, 2022August 7, 2022 by Michael

Americans haven’t been this negative about the future of the U.S. economy since the financial crisis of 2008. Of course it isn’t exactly difficult to figure out why this has happened. A new recession has begun, inflation is wildly out of control, the housing market has started to crash, and more people are falling out of the middle class with each passing day. So many of the economic trends that I have been documenting in recent years are now really beginning to accelerate, and there isn’t much faith that the Biden administration and our other leaders in Washington will be able to turn things around any time soon.

But even though the outlook for the months ahead doesn’t look promising at all, I was still quite stunned by the results of a brand new ABC News/Ipsos survey that was just released…

Americans’ perception of the economy hit the lowest point since the 2008 crash in a new poll showing the Republican Party is more trusted to handle these kitchen table issues.

In an ABC News/Ipsos poll released Sunday, 69 percent of Americans claim that the country’s economy is ‘getting worse’, while just 12 percent say it is ‘getting better’ under President Joe Biden’s leadership.

The last time that particular survey produced results like that was right in the middle of the last financial crisis.

Most of you still remember the “Great Recession” very well, and there are many that believe that what we are heading into will be even worse.

That same ABC News/Ipsos poll also discovered that Biden’s economic approval rating has fallen even lower…

Biden specifically has a 37 percent overall approval on his handling of the economy – the lowest point in the polling since he took office last year.

It shouldn’t surprise us that the vast majority of the American people don’t trust Biden and his minions to handle the economy.

What should surprise us is that after everything that has already happened 37 percent of U.S. adults still have faith in the administration.

What are those people thinking?

One of the primary reasons we have so much inflation right now is because our leaders have borrowed and spent way too much money, and now the Biden administration wants even more.

On Sunday, the United States Senate gave Biden a huge victory by passing a 700 billion dollar spending bill known as “the Inflation Reduction Act”…

The Senate on Sunday passed the $700 billion Inflation Reduction Act, a scaled-down version of the Build Back Better Act.

The Senate voted to pass H.R. 5376, otherwise known as the Inflation Reduction Act, 51-50. The legislation passed on a party-line vote, with Vice President Kamala Harris breaking the tie.

Of course this bill isn’t going to do anything to reduce inflation.

Instead, it will just make it even worse.

So most Americans should get ready for their standard of living to go down even more.

As the cost of almost everything has gone up much faster than paychecks have, many Americans have been dealing with financial stress in a couple of different ways.

First of all, a lot of us are racking up credit card debt like never before…

Americans piled on $40.1 billion worth of debt in June, the Federal Reserve said Friday afternoon. The figure was considerably higher than economists’ forecasts, after May’s revised total of $23.8 billion.

Americans’ borrowing grew by 10.5% in June, compared to 6.3% in May, according to the Fed’s G.19 consumer credit report. Revolving debt — roughly a proxy for outstanding credit card balances — rose by 16% after an 7.8% increase in May.

That was the second largest monthly increase in consumer credit in the history of our country.

Ouch.

Of course piling up lots of credit card debt is a really, really bad idea, and that is especially true when we are plunging into a major economic downturn.

But many people can’t seem to help themselves. If you can believe it, Americans have opened a whopping 42 million new credit card accounts just since the beginning of the pandemic…

Since the pandemic started, about 42 million new credit card accounts have been opened, and consumers now hold more than 750 million auto-loan, credit-card, mortgage, and home-equity lines of credit. Overall, consumers ages 30 to 59 have record levels of debt.

Another way that Americans are dealing with financial stress is by taking on extra jobs…

From June to July, the labor force saw full-time jobs drop by 71,000, while part-time jobs and multiple jobholders increased by 384,000 and 92,000, respectively, according to the latest seasonally adjusted Labor Department data.

This trend of the economy dropping full-time jobs while adding second and part-time jobs has been accelerating since March.

Working an extra job is a great way to wear yourself down physically, mentally and emotionally.

It should only be done as a temporary solution, but at this point nearly half of all workers “are working at least one extra job”…

Some 44% of Americans are working at least one extra job to make ends meet each month, according to a survey by Insuraranks, while 28% of respondents said they took on a secondary gig due to inflation.

I am looking at those numbers and I am still having a really difficult time believing that they are real.

Has it really come to this?

What we do know is that survey after survey has shown that close to two-thirds of the nation is currently living paycheck to paycheck.

And as the cost of living continues to rise faster than paychecks do, that figure will almost certainly go even higher.

There are millions upon millions of people that are working as hard as they possibly can, but it still isn’t enough.

Many of those hard working people trusted the con artists in Washington when they were told that everything was under control and that the future looked bright.

Now many of those hard working Americans are realizing that they were lied to over and over again.

The truth is that the future is not bright for the U.S. economy. In fact, the times that we are moving into will be far more horrible than most people would dare to imagine.

The most epic economic bubble that the world has ever seen is starting to burst, and the nightmare that has now started to unfold is going to be spectacularly painful.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

One Of The Most Tragic Things That I Have Read In A Long Time

August 5, 2022 by Michael

Things have never been harder for America’s farmers and ranchers than they are right now. Their relentless hard work keeps us fed, but now many of them are being financially ruined by forces beyond their control. Prices for fertilizer, farm equipment and diesel fuel have spiraled to absolutely absurd heights, and meanwhile extremely bizarre weather patterns are making it almost impossible to operate successfully in many parts of the nation. A lot of farmers and ranchers have already gone out of business, and many more will go out of business in the months ahead unless some sort of a miracle happens.

Back in 1900, there were approximately 5.7 million family farms in the United States, but at that time the total population of the country was just 76 million.

Today, there are only about 2.2 million family farms in the United States, but the total population of the country has grown to 329 million.

Agriculture is slowly but surely being consolidated, and the big fish have far more power than the little fish do.

It has gotten to a point where it has become nearly impossible for many small farmers and ranchers to survive. To illustrate this, I would like to share something that a farmer named Sheila Payne Blackburn recently posted on Facebook…

I am the last one left on our farm and ranch here in central Texas. It has been in our family and in our blood for over 150 years. I was raised to never back down, never give up, get back in the saddle, cowgirls don’t cry, pull yourself up by your bootstraps, hang tough, and every other cowboy expression you can think of.

I have watched my great grandparents, grandparents and my parents die young. Their bodies run down and weak, their minds overwhelmed with stress, and their bank accounts empty. They gave everything they had for our way of life.

I have survived drought, floods, excessive heat, -4 degree winters, broncs, bulls that want to kill you, and death of beloved livestock.

But today – today, I think I’m finally broken. Today my body, heart, spirit, and strength are gone.

When my dad left this world, he left me holding the bag. He didn’t want to! But he did. Massive debt, tractors that won’t run, old broken down equipment, pickups that barely make it through a pasture. But he also left me the land that I love, the cattle, my heritage, my dream, my knowledge, and passion.

But I feel I can’t go up from here.

Our government wants to destroy us. I can’t buy another 20 year old tractor at $120,000 for something that will not even probably make it a week.

I can’t afford the diesel to fill up that tractor for $600 to just have to do it again tomorrow.

I can’t afford the fertilizer, the seed, the oil, the grease, the parts. Why should I spend $700 an acre to plow, plant, fertilize, weed kill? A grand total of $140,000. To only lose it in a drought. And really never make that money back! Hell my calves will only bring $800 to $900 a piece. But that same whole beef will cost the consumer $5,000 at the grocery store.

Today my pride means nothing to me anymore! Today I want to live to see my grandchildren grow older! Today I am tired of the heat, the wind, the drought! Today I know that it is only me, and no one will probably take over! Today I wonder what I’m fighting for! Today I am weak. Today I think I am through.

I know I am not the only one that feels this way anymore!

Say a prayer for your farmers. Some of us are barely hanging on.

That is truly one of the most tragic things that I have read in a long time.

Small farmers and small ranchers are the backbone of this country, and without them we don’t eat.

Unfortunately, hardly anyone seems to notice that more of them are going under with each passing day.

Many Americans simply do not care about the plight of our farmers and ranchers right now, but they will definitely start to care when the price of beef doubles or even triples. The following was recently posted on Facebook by a rancher named Brad Allison…

$125 a roll, crap is getting real. The cattlemen doesn’t have a chance. Lick tubs almost $140 a tub, cubes close to $14 a bag. We are getting priced out of existence… Pray for your ranchers to be able to hang in there. Meat prices at the grocery is not their fault, it’s above their head, they surely are not making the profit. 10,000 head of cattle sold in three counties here in the last three weeks from cattlemen drowning. Middle age cattle going to slaughter because we can’t afford to feed them.

This is a very serious national crisis, but most Americans don’t realize it yet.

But once these cost increases start showing up at the grocery store in 2023, everyone will finally realize what we are facing.

For decades, we have been able to take our farmers and our ranchers for granted.

Now everything is changing, and a trip to the grocery store will soon be far more painful.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

Why Is Walmart Laying Off So Many Workers?

August 4, 2022August 4, 2022 by Michael

If brighter days are eventually coming for the U.S. economy, why would Walmart be so eager to lay off corporate employees? Of course the truth is that brighter days are not coming. Yesterday, I posted an article in which I listed 11 big companies that are laying off workers. After I completed that article, I discovered that Walmart is also letting people go. If a seemingly unshakable giant such as Walmart already feels compelled to eliminate jobs, what is the outlook for employees of companies that are far smaller and far weaker?

When Walmart announced that it would be laying off nearly 200 corporate employees, it rapidly made headlines all over the nation…

Walmart let go of almost 200 corporate employees on Wednesday amid the economic downturn and rising inflation, according to a person familiar with the development. The company said in a statement that these layoffs are a part of updating its structure.

Yes, they are “updating their structure” because they know that really hard times are coming.

And the projections that the company recently released confirm this…

Walmart said it now anticipates adjusted earnings per share for the second quarter and full year to decline around 8–9 percent and 11–13 percent, respectively. Previously, the retailer had predicted a 1 percent fall it had previously forecast for the full year.

“Food inflation is double digits and higher than at the end of the first quarter. This is affecting customers’ ability to spend on general merchandise categories and requiring more markdowns to move through the inventory, particularly apparel,” Walmart said.

I also just learned that SoundCloud has decided to lay off “approximately 20% of its global workforce”…

SoundCloud will be laying off approximately 20% of its global workforce citing “a significant company transformation” and the current economic and financial landscape.

“During this difficult time, we are focused on providing the support and resources to those transitioning while reinforcing our commitment to executing our mission to lead what’s next in music,” reads a statement by a rep for SoundCloud.

Just like in 2008, the pace of layoffs is beginning to accelerate at a pace that is absolutely breathtaking. If you missed my article from yesterday that contained many more examples, you can find it right here: “It’s Happening: Here Is A List Of 11 Big Companies That Have Announced Layoffs Within The Last 2 Weeks”.

As more Americans lose their jobs, the number of people filing new claims for unemployment benefits will continue to go up.

In fact, the number for last week was up to 260,000…

The number of Americans filing for unemployment benefits edged higher last week, hovering near the highest level of the year — the latest sign that the historically tight labor market is starting to cool off.

Figures released Thursday by the Labor Department show that applications for the week ended July 30 rose to 260,000 from the downwardly revised 254,000 recorded a week earlier. That is above the 2019 pre-pandemic average of 218,000 claims and just narrowly missed topping the eight-month high of 261,000 recorded in mid-July.

Meanwhile, inflation continues to spiral out of control and that is causing immense hardship for millions of American families.

According to Zero Hedge, the Misery Index in the United States just hit the highest level since 2011…

Although the White House seems to believe that things are pretty OK, the US’s misery index suggests they’re not.

June’s misery index (a composite of unemployment and CPI inflation) has risen to 12.5. That’s the highest since September 2011 when the US economy was experiencing a time of very weak job growth and economic growth following the Great Recession. At the time, the yield curve almost inverted, and there were fears of a new recession.

June’s misery index is also above the index from the 2007-2009 recession when the index peaked at 11.4 percent.

So many people are hurting out there right now.

Many Americans are working as hard as they can, but it still isn’t enough to pay the bills because inflation has been absolutely eviscerating our standard of living.

As a result, more people are falling out of the middle class and into poverty with each passing day.

The lines at our food banks are getting longer and longer, and many of those that are now showing up for assistance were once solidly part of the middle class. Here is one example…

The first time Kelly Wilcox drove her 2017 Dodge Grand Caravan to the food pantry near her home in Payson, Utah, she immediately noticed one thing that surprised her: new models of Toyota and Honda sedans and minivans. “I saw a bunch of other people with cars like me who had kids in their cars,” she said.

The mother of four young sons didn’t know what to expect when she made an early visit to Tabitha’s Way Local Food Pantry this spring. She knew that she needed help. Her husband had lost his job. He soon found a new job as an account manager, but that wasn’t enough with inflation.

Can you identify with Kelly Wilcox?

When I was growing up, I lived in a middle class neighborhood and I went to a very large school that was packed with middle class kids. At that time, I can’t remember encountering a single family that was truly impoverished.

But these days it seems like almost everyone is struggling.

For years I have been writing about the disappearance of the middle class. Now we have gotten to a point where the gap between the ultra-wealthy and the rest of us is greater than ever.

One recent survey found that nearly half of the country has cut back spending on food because the cost of living has become so oppressive.

That is frightening.

But the pain that we are currently experiencing is just the tip of the iceberg. As I have been warning for a long time, much worse is ahead.

So please try to enjoy this summer while you still can.

Compared to what is eventually coming, the middle of 2022 is actually a time of rip-roaring prosperity.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

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