What Is Your Plan To Make It Through The Worst Global Food Crisis In Any Of Our Lifetimes?

We are being warned well ahead of time that it is coming.  Joe Biden has publicly admitted that the coming food shortages are “going to be real”, and the head of the UN World Food Program is now telling us that we could soon see “hell on Earth” because the lack of food will be so severe.  Food prices are already escalating dramatically all over the globe, and food riots have already erupted in Sri Lanka and elsewhere.  But most people in the western world are treating this crisis as if it is no big deal.  Many seem to assume that our leaders have everything under control and that things will work out just fine somehow.

Unfortunately, the truth is that everything is not going to be okay.

So far this year, the number of hungry people around the globe has risen to more than 800 million

Currently around 811 million people are experiencing hunger. Levels of food insecurity have doubled from 2019, increasing from 135 million to 276 million. Of this total around 48.9 million people are facing acute or emergency levels of food insecurity that require humanitarian intervention.

But this is just the tip of the iceberg.

Much worse is ahead, and David Beasley is openly warning that “hell on Earth” is coming…

The UN has warned that there could be “hell on earth” due to the global economic impacts of Russia’s invasion of Ukraine.

The Guardian reports that David Beasley, director of the UN World Food Programme (WFP), has said that the war has been “devastating” in conjunction with various other factors.

He said, “Even before the Ukraine crisis, we were facing an unprecedented global food crisis because of Covid and fuel price increases. Then, we thought it couldn’t get any worse, but this war has been devastating.”

According to Beasley, we will soon see “frightening” shortages of food, and those shortages could potentially spark civil unrest in literally dozens of different nations…

Dozens of countries risk protests, riots and political violence this year as food prices surge around the world, the head of the food-aid branch of the United Nations has warned.

Speaking in Ethiopia’s capital, Addis Ababa, on Thursday, David Beasley, director of the UN World Food Programme (WFP), said the world faced “frightening” shortages that could destabilise countries that depend on wheat exports from Ukraine and Russia.

But most Americans are not paying much attention to this rapidly growing crisis because they don’t think that it will really impact them personally.

For the vast majority of us, a lack of food is something that we have never had to be concerned about before.

During “normal” times, we could always go to the grocery store and fill up our carts with mountains of super cheap food whenever we wanted.

Unfortunately, things have changed.  Food production in the U.S. is going to be way below expectations this year, and the head of the National Black Farmers Association claims that we will soon see “a lot of empty shelves and a lot more high food prices”

Three weeks ago John Boyd Jr., the President of the National Black Farmers Association, said “We are in a crisis right now as far as the food chain goes with the farmer in this country,” adding “We’re going to see a lot of empty shelves and a lot more high food prices.” 

In his forty-year career as a farmer, Boyd said he never imagined he would be “paying $5.63 for a gallon of diesel fuel, $900 a ton for fertilizer, and all-time high prices for soybean seeds.” All of the prices he mentioned are at record highs, pressuring farmers’ margins.

Of course we are already seeing widespread shortages of certain products around the country.

For example, Fox Business is reporting on the serious shortage of tampons that has recently started making headlines…

A spokesperson for Tampax, which is owned by P&G, told FOX Business in a statement that this is “a temporary situation, and the Tampax team is producing tampons 24/7 to meet the increased demand for our products.”

Meanwhile, the ongoing shortage of baby formula just keeps getting even worse...

Parents aren’t getting much of a break as the out-of-stock rate for baby formula rose to 73% nationwide for the week ending May 29, according to the most recent data by retail data firm Datasembly. It’s a significant increase from earlier in the month, when the national out-of-stock rate for baby formula stood at 45%.

On top of everything else, we are now facing a shortage of hot sauce

In April, Huy Fong Foods, Inc., the nation’s leading sriracha sauce manufacturer, sent a letter to customers about an impending shortage, which would directly impact retailers and restaurants.

“Unfortunately, we can confirm that there is an unprecedented shortage of our products,” Huy Fong Foods told Fox News Digital in an email.

These shortages are just a very small preview of what is approaching.

As I have been warning on my website throughout 2022, conditions are going to deteriorate quite a bit more in the months ahead.

So what is your plan to make it through the worst global food crisis in any of our lifetimes?

Have you been stocking up?

Earlier this year, I published a list of 50 basic items that I would recommend having on hand.  The following list is certainly not exhaustive, but it will help you cover many of the essentials…

#1 A Generator

#2 A Berkey Water Filter

#3 A Rainwater Collection System If You Do Not Have A Natural Supply Of Water Near Your Home

#4 An Emergency Medical Kit

#5 Rice

#6 Pasta

#7 Canned Soup

#8 Canned Vegetables

#9 Canned Fruit

#10 Canned Chicken

#11 Jars Of Peanut Butter

#12 Salt

#13 Sugar

#14 Powdered Milk

#15 Bags Of Flour

#16 Yeast

#17 Lots Of Extra Coffee (If You Drink It)

#18 Buckets Of Long-Term Storable Food

#19 Extra Vitamins

#20 Lighters Or Matches

#21 Candles

#22 Flashlights Or Lanterns

#23 Plenty Of Wood To Burn

#24 Extra Blankets

#25 Extra Sleeping Bags

#26 A Sun Oven

#27 An Extra Fan If You Live In A Hot Climate

#28 Hand Sanitizer

#29 Toilet Paper

#30 Extra Soap And Shampoo

#31 Extra Toothpaste

#32 Extra Razors

#33 Bottles Of Bleach

#34 A Battery-Powered Radio

#35 Extra Batteries

#36 Solar Chargers

#37 Trash Bags

#38 Tarps

#39 A Pocket Knife

#40 A Hammer

#41 An Axe

#42 A Shovel

#43 Work Gloves

#44 N95 Masks

#45 Seeds For A Garden

#46 Canning Jars

#47 Extra Supplies For Your Pets

#48 An Emergency Supply Of Cash

#49 Bibles For Every Member Of Your Family

#50 A “Bug Out Bag” For Every Member Of Your Family

Many of the items on this list are now much more expensive than they were earlier this year.

And if you wait, many of them will continue to become much more expensive.

If you don’t like my list, come up with your own.

The important thing is to have a plan.

Global events are really starting to spiral out of control, and I expect the second half of this year to be even more chaotic than the first half of this year has been.

***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 BlogEnd 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.

We Haven’t Seen Carnage Like This Since 2008

Trillions of dollars in market wealth has already been wiped out, and investors are bracing for a chaotic second half of 2022.  We truly haven’t seen anything like this since the financial crisis of 2008.  The early months of 2020 were volatile due to the eruption of the COVID pandemic, but the Federal Reserve quickly rushed to the rescue.  The Fed poured trillions of dollars into the system, and that spurred a rally that was absolutely breathtaking.  But this time around the Fed isn’t going to be riding to the rescue any time soon.  The Fed is committed to raising interest rates in a desperate attempt to get inflation under control, and the size of the Fed balance sheet is now being reduced.  So there will be no artificial life support for the financial markets for the foreseeable future, and that is really bad news for those that are seeing their portfolios get absolutely monkey-hammered.

Things have been particularly brutal for crypto investors.

Last November, the total global market cap for all cryptocurrencies peaked out at about 3.1 trillion dollars.

Over the weekend, the total global market cap for all cryptocurrencies actually dipped below 850 billion dollars

The crypto market suffered one of its most dramatic selloffs in years this week as the prices of top cryptocurrencies declined as much as 35% week-over-week as fears of a broad economic recession intensified.

On Saturday, the total global market cap of cryptocurrencies sank below $850 billion as top tokens tumbled.

Poof.

More than two-thirds of all “crypto wealth” is already gone.

CNBC is using the word “carnage” to describe what we have been witnessing in the crypto industry, and I think that fits the nightmare that is currently unfolding quite well…

Carnage in the crypto market won’t let up, as token prices plummet, companies lay off employees in waves, and some of the most popular names in the industry go belly up. The chaos has spooked investors, erasing more than $2 trillion in value in a matter of months — and wiping out the life savings of retail traders who bet big on crypto projects billed as safe investments.

It has been estimated that 16 percent of all U.S. adults either own or have owned a cryptocurrency.

So a whole lot of people out there are really hurting right now.

Last November, the price of Bitcoin peaked at $68,789.63.

As I write this article, it is sitting at $20,170.10.

Last November, the price of Ethereum peaked at $4,891.70.

As I write this article, it is sitting at $1,093.40.

I feel really sorry for those that decided to pour their money into cryptos near the peak.

Stock investors are also getting pummeled these days.

In fact, U.S. retirement accounts have already declined in value by almost three trillion dollars thanks to rapidly falling stock prices…

The U.S. stock market rout that has put U.S. equities in a bear market isn’t just reducing the net worth of billionaires like Elon Musk and Jeff Bezos. It’s also taking a toll on Americans’ retirement savings, wiping out trillions of dollars in value.

The selloff has erased nearly $3 trillion from U.S. retirement accounts, according to Alicia Munnell, director of the Center for Retirement Research at Boston College. By her calculations, 401(k) plan participants have lost about $1.4 trillion from their accounts since the end of 2021. People with IRAs — most of which are 401(k) rollovers — have lost $2 trillion this year.

Stocks have just kept falling and falling and falling.

In fact, the S&P 500 has fallen for 10 of the last 11 weeks

The S&P 500 posted its 10th down week in the last 11, and is now well into a bear market. On Thursday, all 11 of its sectors closed more than 10% below their recent highs. The Dow Jones Industrial Average fell below 30,000 for the first time since January 2021 this past week.

Cryptos have already collapsed, but stocks theoretically still have a ton of room to keep falling.

There are some that are speculating about what will happen if the Dow drops all the way to 20,000, and that would definitely be a crash of historic proportions.

Of course the housing market is much larger than the stock market, and that is starting to implode too.

If you can believe it, the total value of the U.S. housing market was valued at 43.4 trillion dollars earlier this year.

Unfortunately, mortgage rates are absolutely skyrocketing and that is going to change everything.

According to Redfin, home sellers are already dropping their prices at a rate that we have never seen before…

The highest share of sellers on record dropped their list price during the four weeks ending June 12 as mortgage rates shot up to levels not seen since 2008, dwindling the pool of home shoppers.

It is being reported that in some areas of the country home prices have already been reduced by as much as 20 percent.

And this implosion is likely to accelerate as the Federal Reserve just pushes interest rates higher and higher and higher.

How long will it be before millions upon millions of U.S. homeowners are underwater on their mortgages just like we saw in 2008?

As I warned last week, those that do not learn from history are likely to end up repeating it.

The U.S. economy was almost certainly heading into a recession anyway, but now a crypto crash, a stock market crash and a housing crash all at the same time will accelerate matters greatly.

According to one recent survey, 60 percent of corporate executives expect a recession to begin “in the next 12 to 18 months”

More than 60% of executives expect a recession in the next 12 to 18 months, according to a survey of CEOs and other C-suite executives conducted by the Conference Board, a business research firm. That’s a stunning increase from the end of 2021, when just 22% of executives forecast a recession.

Sadly, we aren’t going to have to wait that long.

As I detailed last week, there are lots of numbers that indicate that a major economic downturn is already here.

It is time to batten down the hatches, because a “perfect storm” has arrived.

Global events are accelerating at a frightening pace, and the months ahead are not going to be pleasant.

***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 BlogEnd 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.

“The Economy Is Going To Collapse” – Here Are 18 Signs That The Economic Meltdown We Have Been Waiting For Has Already Begun

In all my years of writing, I have never seen more economic pessimism than I am seeing right now.  Over the past couple of months there has been a monumental shift in public sentiment, and now just about everyone realizes that we are heading into very troubled economic times.  Of course there were still a few economic optimists that were searching for a ray of hope, but the Federal Reserve left no room for optimism when it announced the largest interest rate hike in 28 years on Wednesday.  When the Fed aggressively raised rates in the early 1980s, it resulted in one of the most painful recessions in American history.  Unfortunately, many believe that what is ahead of us is going to be even worse.

For example, legendary Wall Street investor Michael Novogratz is openly warning that “the economy is going to collapse”

“The economy is going to collapse,” he told MarketWatch. “We are going to go into a really fast recession, and you can see that in lots of ways,” he added.

“Housing is starting to roll over,” he said. “Inventories have exploded. There are layoffs in multiple industries, and the Fed is stuck [with a position of having to] hike [interest rates] until inflation rolls over.”

Novogratz is correct, but I think that it would be more accurate to say that “the economy is already starting to collapse”.  The following are 18 signs that the economic meltdown we have been waiting for has already begun…

#1 Stock prices have been plummeting in recent weeks, and that has resulted in almost 3 trillion dollars being erased from retirement accounts in the United States…

The U.S. stock market rout that has put U.S. equities in a bear market isn’t just reducing the net worth of billionaires like Elon Musk and Jeff Bezos. It’s also taking a toll on Americans’ retirement savings, wiping out trillions of dollars in value.

The selloff has erased nearly $3 trillion from U.S. retirement accounts, according to Alicia Munnell, director of the Center for Retirement Research at Boston College. By her calculations, 401(k) plan participants have lost about $1.4 trillion from their accounts since the end of 2021. People with IRAs — most of which are 401(k) rollovers — have lost $2 trillion this year.

#2 The Dow Jones Industrial Average fell beneath the psychologically important 30,000 barrier for the first time in more than a year on Thursday.  If it cannot return to that level within the next few trading sessions, a lot of investors are really going to start to panic.

#3 The Dow is now down 19 percent from the all-time high.

#4 The S&P 500 is now down 24 percent from the all-time high.

#5 The Nasdaq is now down 34 percent from the all-time high.  Just think about that for a moment.  A third of the value of the Nasdaq has already been wiped out.

#6 Two-thirds of the value of all cryptocurrencies has already been wiped out since the peak of the market.  Last November, the total value of all cryptocurrencies had soared past the three trillion dollar mark.  As I write this article, that number has fallen to less than a trillion.

#7 This week we witnessed the fastest rise in mortgage rates since 1987.  Needless to say, this is going to absolutely devastate the housing market…

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan this week rose to 5.78% from 5.23%, the latest in a series of rapid increases and the biggest one-week jump since 1987. The rate is well above the 2.93% recorded just one year ago and marks the steepest level since November 2008.

#8 The largest percentage of sellers ever recorded reduced the list price on their homes during the four week period ending June 12th.

#9 In some parts of the nation, home prices have already fallen by as much as 20 percent.

#10 Compared to the same period a year ago, the total number of mortgage applications was down 52.7 percent last week.

#11 We just learned that housing starts in the U.S. fell 14.4 percent in May.

#12 The number of permits for the construction of new homes was down 7 percent in May.

#13 Wholesale prices continue to accelerate at a very alarming pace

Wholesale prices rose at a brisk pace in May as inflation pressures mounted on the U.S. economy, the Bureau of Labor Statistics reported Tuesday.

The producer price index, a measure of the prices paid to producers of goods and services, rose 0.8% for the month and 10.8% over the past year. The monthly rise was in line with Dow Jones estimates and a doubling of the 0.4% pace in April.

#14 The Atlanta Fed’s GDPNow tracker is now projecting that economic growth during the second quarter will be 0 percent.

#15 The Philadelphia Fed Business Index came in at a negative 3.3 reading for the month of June.  This represents the first contraction since the early days of the COVID pandemic.

#16 One recent survey discovered that small business owners are “feeling their gloomiest in nearly five decades”.

#17 At this point, 59 percent of manufacturers in the United States believe that a recession is coming.

#18 Bloomberg is projecting that the probability of a recession during the next 24 months is 98.5 percent.

But this was not supposed to happen.

Last year, the talking heads on television assured us that a golden new age of prosperity was just around the corner and that the stock market could just keep going up indefinitely.

In fact, many of those talking heads were telling us things that now look completely and utterly ridiculous in retrospect.

Our leaders thought that they could defy the laws of economics, and for a while their “economic voodoo” seemed to be working.

But the truth is that every time they kicked the can down the road they just made our long-term problems even worse.

Now we have reached a point where the immediate future looks extremely bleak, and the outlook for our long-term future is absolutely nightmarish.

If we would have made much different decisions along the way, we would not be facing such a horrifying crisis today.

Unfortunately, what is done is done, and now we get to reap the consequences for the very foolish decisions that our leaders have been making.

***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 BlogEnd 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.

Another Cataclysmic Error Threatens To Plunge The U.S. Economy Into A Bottomless Abyss Of Pain And Suffering

I can’t believe that they actually did it.  Even though it is painfully obvious that the U.S. economy is slowing down dramatically and that we are heading into an excruciating repeat of the housing crash of 2008, the Federal Reserve decided to go ahead with the largest interest rate hike in 28 years anyway.  History has shown us that raising rates just as an economy is entering a recession is an exceedingly foolish move, and many of us have been pleading with the Fed not to do it.  But of course if the Fed actually listened to people like us, we would not be facing such a dire crisis in the first place.

Essentially, the Fed just killed any hopes of avoiding a recession.  The rate hike that was announced on Wednesday was the largest that we have seen since 1994

The Fed raised its key short-term interest rates by three-quarters of a percentage point Wednesday – its largest hike since 1994 – to a range of 1.5% to 1.75. It also downgraded its economic forecast.

And it signaled that more big moves may be coming. Fed officials forecast the federal funds rate will end 2022 at a range of 3.25% to 3.5% and next year at close to 4%, according to their median estimate.

Fed Chair Jerome Powell insists that substantially raising rates will tame inflation.

That worked in the early 1980s, but I am skeptical that the same playbook will work again for a couple of reasons.

First of all, in the early 1980s the U.S. was one trillion dollars in debt.  Today, we are 30 trillion dollars in debt.  Our politicians have been on the greatest borrowing and spending binge in the history of the world during the last couple of years, and hiking interest rates cannot erase the trillions upon trillions of new dollars that have entered the economy.

In addition, the Federal Reserve has pumped trillions of dollars that they created out of thin air into the system in recent years.  Hiking interest rates is not a “magic bullet” that can erase that colossal mistake either.

But the Fed feels like it has been forced to do something to address the current crisis, because prices continue to spiral out of control.

For example, the average price of a gallon of gasoline in the United States hit a new record high for the 18th day in a row on Wednesday…

Gas prices on Wednesday reached a record high for the eighteenth consecutive day.

The national average price of gas reached $5.039, according to GasBuddy. On Tuesday, gas prices were around $5.02 per gallon.

And survey after survey has shown that the American people are rapidly losing faith in the Federal Reserve…

Even more concerning are new signs that families have lost faith in the Fed’s policies. Consumer sentiment in June sank to a low not seen since the 1980 recession, according to a University of Michigan survey. Similarly, a poll by The Washington Post and George Mason University’s Schar School of Policy and Government found that most Americans expect inflation to worsen and are adjusting their spending habits, a mind-set that can make the surge in prices even worse.

So I can understand why Powell and his minions felt a need to raise rates.

But you simply can’t raise rates as the economy enters a recession.  That is suicidal.

At this point, even the Fed’s own numbers show that the economy is really slowing down…

After a week of rampant jawboning to adjust the market’s expectation for The Fed’s actions later today (after last Friday’s unexpected resurgence in CPI), the continued erosion in economic data (most notably retail sales this morning) has prompted The Atlanta Fed to slash its forecast for Q2 GDP growth from +0.9% to 0.0%, meaning the US is now right on the verge of a technical recession (after Q1’s contraction).

If U.S. GDP goes negative again in the second quarter, then we are already officially in a recession right now.

And what the Fed just did is going to make it much worse, because it is about to become a lot more expensive to borrow money…

Every time the Fed raises rates, it becomes more expensive to borrow. That means higher interest costs for mortgages, home equity lines of credit, credit cards, student debt and car loans. Business loans will also get pricier, for businesses large and small.

The most tangible way this is playing out is with mortgages, where rate hikes have already driven up rates and slowed down sales activity.

In particular, higher rates are going to absolutely eviscerate the housing market.  In fact, yesterday I discussed the fact that another housing crash has already begun.  Right now there is a tremendous amount of panic out there as those that work in the industry come to grips with what is now taking place.

A year ago, the housing market in the U.S. was red hot, but now the environment has completely changed.

Compared to the same period a year ago, total mortgage application volume was down a whopping 52.7 percent last week…

Total mortgage application volume was 52.7% lower last week than the same week one year ago, according to the Mortgage Bankers Association’s seasonally adjusted index. Sharply rising interest rates are decimating refinance volume, and those rates, along with sky-high home prices and a shortage of houses for sale, are hitting demand from potential buyers.

In 2008, the Federal Reserve played a major role in bursting the most epic housing bubble in the history of our country.

Now it is happening again, only this time the housing bubble is even larger than the one that imploded over a decade ago.

Most Americans may not realize it, but this is truly a very sad day for the United States.

An immensely painful economic crisis has essentially been guaranteed, and beyond that we are going to see things happen that once would have been unthinkable.

But things didn’t have to turn out this way.

If we would have made better decisions, we could have had much different results.

Unfortunately, the Fed has come up with an endless series of colossal errors in recent years, and this latest error is one of the biggest of them all.

***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 BlogEnd 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.

Remember 2008? Another Terrifying Housing Crash Is Now In Progress

It is often said that those that refuse to learn from history are doomed to repeat it.  More than a decade ago, the Federal Reserve created the most epic housing bubble in American history and everyone was happy until 2008 came along.  The economy slowed down, home prices crashed and the ensuing chaos on Wall Street spawned an endless series of movies, television specials and documentaries.  But instead of learning our lessons, we did it again.  The Federal Reserve created an even larger housing bubble, and I have been relentlessly warning that it would inevitably burst.  Now home sales have fallen for six months in a row and prices are crashing again.  In fact, in some parts of the country we have already seen prices plunge by as much as 20 percent

Property prices have fallen by up to 20 percent across parts of the US as buyers shun the market amid ‘Bidenflation’ and spiking interest rates.

Asking prices have plummeted by up to $400,000 in wealthy areas while poorer neighborhoods have seen house values nosedive by as much as $115,000.

Do you remember last time around when millions of homeowners ended up “underwater” on their mortgages?

If we continue on this current trajectory, it is going to happen again.

Last year at this time, the housing market was extremely hot, but now a new report from Redfin is telling us that things have dramatically changed

A May study by Redfin found that about 19 percent of sellers dropped the prices on their homes in a four week period between April and May. The outlet said that the report indicated an end to the country’s pandemic-era housing boom.

Their report found that Google searches for ‘homes for sale’ were down 13 percent from the same time last year.

It also found that requests for home tours were down 12 percent, and that mortgage applications dropped 16 percent from a year prior.

And the higher mortgage rates go, the worse things are going to get.

Unfortunately, mortgage rates are spiking at a rate that is absolutely breathtaking this month

Mortgage rates jumped sharply this week, as fears of a potentially more aggressive rate hike from the Federal Reserve upset financial markets.

The average rate on the popular 30-year fixed mortgage rose 10 basis points to 6.28% Tuesday, according to Mortgage News Daily. That followed a 33 basis point jump Monday. The rate was 5.55% one week ago.

The last time we saw mortgage rates this high was during the last housing crash.

Unfortunately, they are only going to go higher because the Federal Reserve wants interest rates throughout our economy to rise in order to fight inflation.

But as I have warned repeatedly in recent months, a high rate environment is going to absolutely eviscerate the housing market.  Already, higher rates have had a colossal impact on home affordability…

Higher home prices and rates have crushed home affordability.

For instance, on a $400,000 home, with a 20% down payment, the monthly mortgage payment went from $1,399 at the start of January to $1,976 today, a difference of $577. That does not include homeowners insurance nor property taxes.

It also does not include the fact that the home is about 20% more expensive than it was a year ago.

Vast multitudes of potential home buyers will be forced out of the market until home prices comes down dramatically.

If you are one of those people, you could try to rent a place while you wait, but apartment rents are 15 percent higher than they were a year ago…

A new report from Redfin shows that nationally listed rents for available apartments rose 15% from a year ago. And the median listed rent for an available apartment rose above $2,000 a month for the first time.

Rents are up more than 30% in Austin, Seattle, and Cincinnati. In Los Angeles the median asking rent is $3,400. Even in formerly affordable cities such as Nashville it’s now $2,140, up 32% from last year.

I am so thankful that Redfin gives us these numbers, but it turns out that Redfin is in deep trouble too.

In fact, Redfin just announced that they will be laying off 8 percent of their workers…

Real estate firms Redfin and Compass are laying off workers, as mortgage rates rise sharply and home sales drop.

In filings with the Securities and Exchange Commission, Compass announced a 10% cut to its workforce, and Redfin announced an 8% cut.

Shares of both companies fell Tuesday. Redfin’s stock touched a new 52-week low.

So many of the exact same things that we witnessed back in 2008 are happening again.

The economy is slowing down.

Big corporations are starting to lay off workers.

Home prices are starting to collapse.

And there is a tremendous amount of pessimism about what is ahead.  In fact, one new survey has found that small business owners are “feeling their gloomiest in nearly five decades”

Small business owners in America are feeling their gloomiest in nearly five decades, a survey released Tuesday morning showed.

The National Federation of Independent Business (NFIB) said its gauge of businesses expecting better business conditions over the next six months fell to the worst reading in the 48-year history of the survey.

When things got really bad in 2008 and 2009, the Federal Reserve responded by pushing interest rates all the way to the floor, and that certainly helped.

But now the Federal Reserve doesn’t have that option.

In fact, the Federal Reserve seems quite determined to dramatically raise rates in a desperate attempt to fight the inflation monster that they had a major role in helping to create.

And the higher that rates go, the worse things will get for the housing market and for the economy as a whole.

If we would have learned some lessons from the last crisis, all of this could have been avoided.  But instead we are now moving into a future which is going to be extraordinarily painful.

At this point, the Federal Reserve is stuck between a rock and a hard place.

If they don’t raise rates, inflation will continue to spiral out of control.

But if they do raise rates, they will crush the housing market and make the coming recession far worse.

For years, they assured all of us that they had everything under control and that they knew exactly what they were doing.

Now everyone can see the truth, but unfortunately it is too late to reverse course.

***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 BlogEnd 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 Nightmare On Wall Street

This is bad.  This is really, really bad.  Investors loved the ride up, but now the Federal Reserve is helping to destroy the bubble that it once so eagerly created, and trillions of dollars in paper wealth is being wiped out in the process.  Unfortunately, our system is not really designed to handle this sort of carnage.  So many in the financial world live right on the edge, and when things go really, really bad the dominoes can start falling at a pace that is absolutely breathtaking.  We witnessed this back in 2008, and it could soon happen again.

On Friday, the Dow Jones Industrial Average fell 880 points, and many were deeply concerned about what Monday would bring.

Well, the pessimists turned out to be correct, because the Dow plunged another 876 points on Monday.

Overall, the Dow is now down approximately 17 percent from its record high, and so it has almost reached bear market territory.

Of course the S&P 500 is already there

The S&P 500 fell 3.88% to 3,749.63, marking its lowest level since March 2021 and bringing its losses from its January record to more than 21%. The benchmark closed in bear market territory (down more than 20% from its high) after trading there briefly on an intraday basis about three weeks ago. Some on Wall Street say it’s not an official bear market until the index closes there and that’s what happened on Monday. The last time stocks were in a bear market was in March 2020 at the onset of the pandemic.

Needless to say, the Nasdaq has them both beat.  Tech stocks were on the cutting edge on the way up, and now they are on the bleeding edge on the way down.  The Nasdaq dropped another 4.68% on Monday, and at this point it has already dropped over 33 percent from the all-time high.

Just think about that.  A third of the value of the Nasdaq has already been obliterated.

Wow.

As I write this article, investors are extremely concerned that the Fed could raise rates by 75 basis points on Wednesday…

Major averages hit their lows of the session in the final 30 minutes after a Wall Street Journal report suggested the Fed would consider raising rates by 0.75% on Wednesday, more than the half-point increase currently expected.

And Fox Business is reporting that some traders believe that we could actually see a 100 basis point increase in July….

While market consensus is for a half-point interest rate hike at the Fed’s policy-setting meeting this week, the odds for a larger increase next month are surging, with a potential 75-basis point or 100-basis point jump on the table in July. About 16% of traders are penciling in a 100-basis point jump next month, compared to 53% forecasting a 75-basis point increase, according to the CME Group’s FedWatch tool, which tracks trading.

Of course the Fed should not be raising rates at all.

The U.S. economy is clearly heading into a very painful recession, and you don’t raise rates as a recession is starting.

Unfortunately, Fed officials feel like their hands are tied because inflation is completely out of control.  Last week we learned that the consumer price index has risen to 8.6 percent, and we were told that was the highest that it has been since December 1981.

But if the inflation rate was still calculated the way that it was back in 1980, it would actually be well over 15 percent at this point.

So the Fed is going to bring down the hammer, and that is going to continue to roil financial markets.

And right now cryptocurrencies are being hit harder than anything else.

In fact, the price of Bitcoin plunged 15 percent in just 24 hours…

Bitcoin, the world’s most valuable cryptocurrency, has lost 15% in the last 24 hours — putting it about 66% below its all-time high in November last year, when it traded around $69,000, according to data from Coinbase. Bitcoin fell below $24,000 Monday, sending the crypto to its lowest level since December 2020.

Ether, the second-most-valuable digital coin, plunged 17%, and has now lost about 75% of its value since November.

At the peak, just about every Bitcoin investor was in the green.

But as I have warned my readers over and over again, you only make money in the financial markets if you get out in time.

There was quite a bit of panic among crypto investors after the Celsius Network announced that it was being forced to temporarily pause “withdrawals, swaps and transfers”

Celsius Network Ltd., one of the biggest lenders in crypto and a key player in the world of decentralized finance, said late Sunday that it was pausing withdrawals, swaps and transfers following weeks of speculation over its ability to make good on the outsize returns it offered on certain of its products, including yields as high as 17%. The move effectively halted a platform with registered entities across the globe and billions of dollars worth of digital coins under management, accelerating a selloff in the broader market that was already in progress on concern over prospects for tightening monetary policy ahead of a Federal Reserve meeting this week.

We should watch some of these big players in the cryptocurrency industry very carefully.

In the end, I have a feeling that some people that thought that they were “crypto millionaires” will actually walk away with nothing or next to nothing.

Of course it isn’t just crypto investors that are going to get eviscerated.

In recent years our financial markets have been transformed into the biggest casino in the history of the world.

And a lot of investors had become convinced that the Federal Reserve had decided to permanently rig the game in their favor.

Now the rug is being pulled out from under them, and the losses are piling up fast.

Hopefully the markets will stabilize after the Fed decision comes out.

But the outlook for the months ahead is terrible, and my regular readers already know what I believe is coming beyond that.

It took years to get to the top of the rollercoaster, but the ride down will go much, much faster.

***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 BlogEnd 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 Survey Of Corporate Financial Officers Found That 100 Percent Of Them Expect A Recession To Start In The Months Ahead

Have you ever heard of a survey where 100 percent of the respondents agree?  I can’t ever recall seeing one like that, but as you will see below, 100 percent of the corporate CFOs that were just surveyed by CNBC believe that a recession is coming by the end of next year.  At this point, our economic troubles are growing so rapidly that you would have to be deaf, dumb and blind not to see what is happening.  A meltdown of historic proportions has already begun, and there is economic gloom just about everywhere that you look.

But even though the U.S. economy is clearly moving in one direction, I still didn’t expect to see this sort of a consensus among corporate financial executives…

According to the majority (68%) of CFOs responding to the survey, a recession will occur during the first half of 2023. No CFO forecast a recession any later than the second half of next year, and no CFO thinks the economy will avoid a recession.

The CNBC CFO Council Q2 survey is a sample of the current outlook among top financial officers. It was conducted among 22 chief financial officers at major organizations between May 12-June 6.

Of course they are right on target.

The months ahead are going to be very difficult.

And with each passing day we continue to get more evidence that the economic slowdown is accelerating.  For example, it appears that a “transportation recession” has already begun

A downturn, if not a full-on recession, is clear in the transportation world. While the rest of the economy debates whether things are that bad, it’s been clear for months to logistics providers that the situation has worsened — and the velocity of that change is still stunning.

The cost to move a container from Asia to a major port in North America or Europe has sunk by 23% since the beginning of this year, according to maritime research firm Drewry. Spot rates have plummeted even faster; marketplace Freightos said rates from China to the West Coast are down 38% month-over-month. FreightWaves forecast this week that ocean shipping volumes will “drop off a cliff” by this summer, based on slumping bookings out of China.

Meanwhile, the most absurd housing bubble in the history of our country is clearly starting to burst.  Compared to a year ago, mortgage applications were down a whopping 21 percent last week…

This just keeps getting worse: Applications for mortgages to purchase a home dropped 7% for the week, and were down 21% from a year ago, the Mortgage Bankers Association reported today. An indicator of future home sales: Potential homebuyers try to get pre-approved for a mortgage, lock in a mortgage rate, and then start house-hunting.

Mortgage rates have soared this year, and home prices have soared for years to ridiculous levels, causing layers and layers of potential buyers to abandon the market, amid “worsening affordability challenges,” as the MBA called it.

On top of everything else, jobless claims just shot up to their highest level in almost six months

The number of Americans filing for unemployment benefits unexpectedly jumped last week, spiking to the highest level since mid-January in a sign the hot labor market could be starting to cool.

Figures released Thursday by the Labor Department show that applications for the week ended June 4 rose to 229,000 from an upwardly revised 202,000 a week earlier, missing the 210,000 forecast by Refinitiv analysts. It marked the biggest one-week increase since last July. The four-week average of new claims, which smooths volatility in the weekly figures, also increased slightly to 215,000 last week.

But even though all of these numbers clearly indicate that a “recession” is coming, a potential “recession” is not the number one economic concern for most Americans.

That is because the worst inflation crisis in modern American history is hitting all of us extremely hard.

According to a FiveThirtyEight/Ipsos poll that was just released, 52 percent of Americans believe that inflation is “the most important issue facing the country” right now…

At this point, the answer to what Americans are most worried about is pretty straightforward: inflation. In the first FiveThirtyEight/Ipsos poll, 52 percent of Americans said the most important issue facing the country was inflation. We asked Americans this question in a variety of ways, but regardless of how we asked it, the top answer was always the same: inflation.

Other surveys have come up with similar results.  For example, just check out these numbers from the Pew Research Center…

Seven-in-ten Americans view inflation as a very big problem for the country, followed by the affordability of health care (55%) and violent crime (54%).

About half say gun violence and the federal budget deficit are very big problems (51% each), according to a Pew Research Center survey conducted April 25-May 1 among 5,074 U.S. adults.

Inflation is something that the American people can see on a daily basis.

On Thursday, the average price of a gallon of gasoline in the United States hit five dollars a gallon for the first time ever.

And as I pointed out the other day, experts are warning that it will soon cross the six dollar threshold.

The grocery store is another place where all of us can clearly see the rampant inflation that is happening.  A single shopping cart of food can easily cost $300 these days, and that is absolutely insane.

Unfortunately, this is just the beginning, and most Americans realize this.  In fact, one survey just discovered that approximately two-thirds of us expect inflation to get even worse over the next year

The Federal Reserve, the Biden administration, and Wall Street’s economists are confident that inflation will be brought down over the coming year. The American public disagrees.

Two-thirds of Americans say they expect inflation to get worse over the next year, according to a poll conducted by The Washington Post and George Mason University’s Schar School of Policy and Government.

Some of us have been warning for years that the decisions that our leaders were making would destroy the stability of our currency.

Now nightmarish inflation is officially here.

And some of us have been warning for years that our rapidly growing long-term economic problems would eventually result in a meltdown of epic proportions.

Now that meltdown has begun.

Our fate could have been very different if we would have chosen a much different path while we still had the chance.

But now it is too late, and the pain that is ahead is going to be greater than many Americans will be able to handle.

***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 BlogEnd 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.

The Worst Economic Gloom In 50 Years

We haven’t seen anything like this in decades.  Energy prices are soaring to unprecedented heights.  Food shortages in some parts of the world are starting to become quite severe.  Rampant inflation is out of control all over the globe.  Meanwhile, economic activity is slowing down everywhere that you look.  Some are comparing this current crisis to the “stagflation” of the 1970s, but I believe that is a far too optimistic assessment.  Just about everyone can see that economic conditions are rapidly deteriorating, and there is a tremendous amount of alarm about what the months ahead will bring.

According to a brand new Wall Street Journal-NORC survey that was just released, the percentage of Americans that believe that the state of the U.S. economy is “poor or not so good” is 83 times larger than the percentage of Americans that believe that the state of the U.S. economy is “excellent”…

A severe pessimism grips the U.S. economy and Americans report the highest level of dissatisfaction with their financial situation in at least half a century, poll results released Monday show.

Eighty-three percent of Americans describe the state of the economy as poor or not so good, according to a Wall Street Journal-NORC Poll. Only one percent describe the economy as “excellent.”

I would like to talk to someone from the one percent of Americans that still believe that the U.S. economy is in “excellent shape”.

To me, it is always fascinating to find someone that can completely deny reality even when all of the evidence points in the other direction.

The same survey found that the percentage of Americans that are “not at all satisfied with their financial condition” is the highest in at least 50 years

Thirty-five percent said they are not at all satisfied with their financial condition, the highest level of dissatisfaction since NORC began asking the question every few years starting in 1972.

Sixty-three percent of Americans say they are extremely or very concerned about the price of gas. Fifty-four percent say they are extremely or very concerned about the impact of high grocery prices on their household’s financial situation. Just 13 percent say they not very or not at all concerned about gas prices and 19 percent about grocery prices.

In other words, this is the gloomiest that Americans have been about their own personal finances in at least five decades.

Wow.

One of the big reasons why people feel this way is because the price of just about everything is going up.

In particular, the price of gasoline has been making national headlines just about every day.  On Tuesday, it set another brand new record

The national average price of gas is now $4.955, reflecting an over three-cent jump overnight, 28-cent rise in the last week, and nearly 64-cent rise in the last month. Diesel also hit another record on Tuesday, reaching $5.719.

Currently, 16 states are experiencing an average price of gas of $5.00 or more. That includes Maine ($5.023), Massachusetts ($5.21), New Jersey ($5.032), Pennsylvania ($5.031), Michigan ($5.214), Ohio ($5.061), Indiana ($5.234), Illinois ($5.532), Idaho ($5.025), Alaska ($5.469), Hawaii ($5.493), Washington ($5.489), Oregon ($5.485), Nevada ($5.564), Arizona ($5.181), and California ($6.390). California’s Mono County appears to be reporting the highest gas price average in the Golden State — $7.213.

Unfortunately, there is a growing consensus among the experts that this is just the beginning.  Here is one example

With the summer travel season just getting underway, demand for gasoline, coupled with the cut-off of Russian oil shipments due to the war in Ukraine, is sending oil prices higher on global markets.

The national average for gasoline could be close to $6 by later this summer according to Tom Kloza, global head of energy analysis for the OPIS, which tracks gas prices for AAA.

And here is another example

GasBuddy head of petroleum analysis Patrick De Haan provided insight into record-high gas prices, warning on Wednesday that “we’re going to be swimming in these high prices for a while.”

Speaking on “Varney & Co.” on Wednesday, De Haan also revealed his forecasts for how high prices at the pump will climb, arguing that they could reach a national average of $6 a gallon in the coming months, but “what seems like more of a guarantee is that $5 mark.”

Others are even more pessimistic.  In fact, the head of commodity trading giant Trafigura just warned that the price of oil could actually make a “parabolic ” move in the months ahead.

Needless to say, energy prices have a domino effect throughout the entire economy.  When commentator Anthony B. Sanders contacted moving companies about his coming move out of state, he could hardly believe the quotes that he was given

As I line up my move from Fairfax VA to Columbus OH, I am getting a variety of quotes from moving companies. And wow! The cost of moving using a national moving company for a 4 bedroom house is $15,000 to $20,500. That includes International, North American and Bekins.

One of the reasons for the high cost of moving is the massive increase in diesel fuel used for trucking. Diesel fuel under Biden has risen 117%. And since it was revealed that natural gas often is used for electric charging stations, and NATGAS is up 281% under Biden (but there aren’t many electric moving trucks yet).

Could you imagine paying $20,000 to move from Virginia to Ohio?

In the old days, you could purchase your own new vehicle for that much money.

In this crazy environment, some companies are attempting to hide inflation by shrinking their package sizes

“Joining the parade of downsized products is cereal stalwart Honey Bunches of Oats, which has seen the weight of its standard box, previously 14.5 ounces, lessen to 12 ounces — a reduction of roughly 17 percent,” the U.K. paper said.

Angel Soft toilet paper has also reduced its size from 425 sheets per roll to 320, while Bounty paper towels have cut their rolls from 165 sheets per roll to 147 late last year. Gatorade also cut its bottle size from 32 ounces to 28 ounces.

Do they actually believe that we will not notice that the packages have changed?

And this isn’t just happening here in the United States.  At this point, this is taking place all over the globe

In the U.S., a small box of Kleenex now has 60 tissues; a few months ago, it had 65. Chobani Flips yogurts have shrunk from 5.3 ounces to 4.5 ounces. In the U.K., Nestle slimmed down its Nescafe Azera Americano coffee tins from 100 grams to 90 grams. In India, a bar of Vim dish soap has shrunk from 155 grams to 135 grams.

Our standard of living is falling with each passing day, and that process is only going to accelerate during the second half of this year.

In a desperate attempt to keep living the way that they always have, many Americans are turning to their credit cards at an alarming rate.

Needless to say, that is only a short-term solution.

And at the same time, overall economic activity continues to slow down

A closely followed measurement from the Atlanta Federal Reserve Bank suggests the economy could be headed for a second-quarter decline in gross domestic product, the broadest measure of goods and services produced in a country. The GDPNow tracker shows the economy grew at an annualized pace of just 0.9% in the spring, a steep decline from its previous estimate of 1.3% on June 1.

If U.S. GDP is actually negative for the second quarter, that will be two quarters in a row, and that will mean that we are officially in a recession right now.

But what we are heading into in 2023 and beyond is not going to be just a “recession”.

Ultimately, we are heading into the sort of “nightmare scenario” that I have warned about for years.

It took decades of very foolish decisions for us to reach this point, and our leaders in Washington continue to make very foolish decisions.

So the truth is that there are no long-term solutions in sight.

Only pain.

So if the American people are this upset about the economy now, how will they be feeling six months down the road?

***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 BlogEnd 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.