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I hope that you are enjoying these beautiful summer weekends while you still can, because it appears that very troubled times are dead ahead.  Simultaneously, inflation continues to spiral out of control even as economic activity in the U.S. dramatically slows down.  Many have compared what we are currently experiencing to the “stagflation” of the 1970s, but the truth is that what we are facing will eventually be so much worse than anything that we went through back then.  A meltdown of historic proportions is here, and as you will see below, some of the biggest names in the entire country are talking about it.

On Monday, the average price of a gallon of gasoline in the United States set another all-time record high…

The gas price spike keeps getting worse.

The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month.

There are now 10 states where the average price of gasoline is $5 a gallon or higher, with the latest being Michigan and Indiana. Washington, DC, is also above $5, according to CNN.

A 25 cent increase in one week is just insane.

If we continue on this trajectory, the price of gasoline would go up about a dollar a month.

I can’t imagine that will be the case, but stranger things have happened.

Overall, the average price of a gallon of gasoline in the United States has now more than doubled since Joe Biden entered the White House.

How high will it be a year from now?

For a long time I warned my readers that the price of gasoline would eventually hit ten dollars a gallon, but now we have learned that it is already almost there at one gas station in California.

Meanwhile, U.S. economic activity is really slowing down and we are being warned to brace ourselves for the worst.

In fact, at this point some of the most prominent people in the entire country are starting to sound like they could be writing for The Economic Collapse Blog.  The following are four really big names that are warning that major economic disaster is ahead…

#1 If you have a “bad feeling” about the U.S. economy, you are not alone.  Elon Musk says that he has a “super bad feeling” about where the U.S. economy is heading, and so he intends to reduce the Tesla workforce by approximately 10 percent…

Tesla CEO Elon Musk has a “super bad feeling” about the economy and wants to cut about 10% of jobs at the electric carmaker, he said in an email to executives on Thursday seen by Reuters.

The message came two days after the world’s richest man told employees to return to the workplace or leave the company.

#2 I never imagined that I would write about something that rapper Cardi B said on this website, but that is precisely what I am about to do.  At one time she was a huge Biden supporter, but on Sunday she publicly suggested that the U.S. economy is about to enter a recession…

Rapper and Joe Biden supporter Cardi B took to Twitter on Sunday to ask when “they going to announce” that the United States is “going into a recession.”

“When y’all think they going to announce that we going into a recession?” Cardi B wrote Sunday in a tweet, which has since garnered more than 120,000 likes, and over 16,000 retweets.

Actually, the U.S. economy contracted during the first quarter of 2022, and if it contracts again in the second quarter then we are actually already in a recession right now.

#3 I really admire author Robert Kiyosaki, and his advice has helped millions of people all over the globe.  In the past he was known for his relentless optimism, but now he is almost as pessimistic about our economic future as I am.  For example, he tweeted out the following back on March 8th…

DO YOU HAVE a PLAN “B”? We are in BIGGEST BUBBLE in world history. Bubbles in stocks, real estate, commodities & oil. FUTURE? Possible DEPRESSION with HYPER-INFLATION. My PLAN B: be an entrepreneur, stay out of stock market, create own assets, use debt as $, save G,S, BC, guns.

Then he followed that up with this gem on March 13th…

BRANDON & FED want INFLATION to pay off trillions in debt. BEST INVESTMENT may be stocking products you will always use such as toilette paper, trash bags, canned goods, frozen foods, gold, silver, Bitcoin. I do not trust Brandon or Fed. They are Marxists. End the Fed & Brandon.

And then on April 15th he boldly declared that a “hyper-inflation depression” has arrived…

Wiley COYOTE moment coming. Biggest Bubble Bust coming. Baby Boomer’s retirements to be stolen. $10 trillion in fake money spending ending. Government, Wall Street & Fed are thieves. Hyper-inflation Depression here. Buy gold, silver, Bitcoin before the coyote wakes up. Take care

Of course he is dead on accurate about where the economy is heading.  I don’t share his optimism about Bitcoin, but otherwise I think that the things that he has shared are very wise.

#4 The crisis that we are now dealing with did not arrive overnight.  For years, many of us have been relentlessly warning about debt levels, the destruction of our currency, and the foolish decisions that our leaders were making.  Now we are facing the largest debt bubble in all of human history, and there is no easy way out.  On Monday, some thoughts that Kim Dotcom shared on Twitter went viral all over the Internet…

Let’s do the math:

US total debt
$90 trillion

US unfunded liabilities
$169 trillion

Total
$259 trillion

Minus all US assets
$193 trillion

Balance
– $66 trillion

That’s $66 trillion of debt and liabilities after every asset in the US has been sold off.

I might quibble with the precise numbers that he used a little bit, but overall Kim Dotcom is right on target.

And I really like how he summarized the nightmare that is in front of us…

So even if the US could sell all assets at the current value, which is impossible, it would still be broke.

The US is beyond bankrupt.
This patient is already dead.
This patient is now a zombie.

You probably wonder why are things still going? Why didn’t everything collapse yet.

It’s all perception, denial and dependency.

Our leaders have tried to keep the party going for as long as they possibly could, and for a while that actually worked.

But now a day of reckoning has arrived, and a horrifying economic meltdown has begun.

We aren’t talking about a “recession” that will be here for a while followed by a return to the way that things used to be.

No, what we are heading for is the sort of immense economic nightmare that I have been warning about for years.

Many Americans will be greatly surprised by how rapidly things totally fall apart, but the real surprise has been that it has taken us so long to get to this point.

You can’t defy the laws of economics forever, and we are about to see the greatest debt pyramid that the planet has ever seen come crashing down all around 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.

We have faced a lot of significant challenges in modern American history, but nobody will ever forget the economic horror that is breaking loose during Joe Biden’s time in the White House.  For years, we were warned that the policies that our leaders were pursuing would destroy the value of our currency and unleash rampant inflation.  Now it has happened.  For years, we were warned of a looming global energy crisis that would inevitably hit us.  Now it is here.  But what we have been through already is just the beginning.  The shortages that we are experiencing now will get worse.  Many of the ridiculously high prices that we are seeing now will seem like bargains by the end of the year.  And right now the U.S. economy appears to be rapidly slowing down at the exact same moment that economies all over the globe are moving in the wrong direction.  The CEO of Goldman Sachs just told us that “there’s going to be tougher economic times ahead”, and he is not exaggerating one bit.

On Thursday, the average price of a gallon of gasoline in the United States reached yet another brand new all-time record high…

US gas prices have hit a new high of $4.71, just a day after hitting the record as seven states top off at $5 a gallon as inflation soars.

The national average jumped four cents overnight, leaving drivers in even more despair as gas prices continue to skyrocket emptying their wallets.

If Americans don’t like paying about five bucks a gallon, how are they going to feel when it takes about 10 bucks to buy a gallon of gas?

Fortunately, we did just get a bit of good news that should provide some temporary relief…

OPEC and its oil-producing allies agreed on Thursday to hike output in July and August by a larger-than-expected amount as Russia’s invasion of Ukraine wreaks havoc on global energy markets.

OPEC+ will increase production by 648,000 barrels per day in both July and August, bringing forward the end of the historic output cuts OPEC+ implemented during the throes of the Covid pandemic.

Unfortunately, this isn’t really going to change the trajectory of where we are heading.

In fact, one energy expert says that this is essentially just a symbolic gesture…

Robert McNally, president of Rapidan Energy Group and a former energy adviser to President George W. Bush, said prices rallied Thursday because the OPEC move was “more symbolic than fundamentally significant.”

“I wouldn’t call it a drop in the bucket. It’s basically a gesture… an important one symbolically,” he told CNN Business.

What we really need are long-term solutions, and there aren’t any on the horizon.

And the truth is that we aren’t just facing an oil crisis.  At this stage, the balance between supply and demand has reached a crisis point for all traditional forms of energy simultaneously…

“Now we have an oil crisis, a gas crisis and an electricity crisis at the same time,” Fatih Birol, head of the International Energy Agency watchdog group, told Der Spiegel in an interview published this week. “This energy crisis is much bigger than the oil crises of the 1970s and 1980s. And it will probably last longer.”

The global economy has largely been able to withstand surging energy prices so far. But prices could continue to rise to unsustainable levels as Europe attempts to wean itself off Russian oil and, potentially, gas. Supply shortages could lead to some difficult choices in Europe, including rationing.

What do you think the European economy will look like when there is widespread rationing of natural gas six months from now?

Can anyone out there answer that question?

We have never faced anything like this before, and one industry insider is referring to this as a “perfect storm”…

Joe McMonigle, secretary general of the International Energy Forum, said he agrees with this depressing forecast from the IEA.

“We have a serious problem around the world that I think policymakers are just waking up to. It’s kind of a perfect storm,” McMonigle, whose group serves as a go-between for energy producing and consuming nations, told CNN in a phone interview.

Isn’t it funny how that term keeps popping up?

For years, I warned that a “perfect storm” was coming over and over again, and now that term has constantly been in the news throughout this year.

Another element of the “perfect storm” that we are facing is the rapidly growing global food crisis.

Here in the United States, the bird flu pandemic that has erupted in 2022 has resulted in 38 million chickens and turkeys being wiped out.

As a consequence, the price of eggs has been soaring to unprecedented levels…

The price of eggs increased 10.3% in April. The UDSA predicts an increase between 19.5% and 20.5% year over year in 2022. That could mean $1.00 an egg. Poultry prices will rise as much as 9.5%.

Did you ever imagine that you would be paying a dollar for a single egg?

I still remember when you could get an entire carton of eggs for one dollar.

Chicken meat and turkey meat will be getting more expensive too, and now we are being warned that shortages are coming.

In fact, the CEO of Hormel Foods is openly telling us that “large supply gaps in the Jennie-O Turkey Store will begin in the third quarter”…

A top US food processing company warned of an upcoming shortage of its turkey products at supermarkets following one of the worst bird flu outbreaks.

“Our Jennie-O Turkey Store team is facing an uncertain period ahead,” Hormel Foods Corporation CEO Jim Snee told investors in an earnings call. “Similar to what we experienced in 2015, (avian influenza) is expected to have a meaningful impact on poultry supplies over the coming months.”

Snee said the “large supply gaps in the Jennie-O Turkey Store will begin in the third quarter.” He said highly pathogenic avian influenza was confirmed in “our supply chain” in March.

In case you didn’t get the point of what he was saying, “large supply gaps” is a politically correct way of saying “widespread shortages”.

Speaking of shortages, the baby formula shortage in the United States is now worse than ever…

But, as Bloomberg reports, out-of-stock rates climbed to 74% nationally for the week ending May 28, according to data on 130,000 stores followed by Datasembly. The increase comes after rates spiked to 70% for the week ending May 21 from 45% the week prior.

Even more stunningly, ten states now have shortage rates at 90% or greater, with Georgia hardest hit at 94%.

The Biden administration made a really big deal out of the fact that they were flying in baby formula from Europe, but once again that turned out to mostly be a symbolic gesture.

As economic conditions continue to deteriorate, an increasing number of Americans will fall into poverty and hunger.  In fact, according to NPR “demand at food banks is way up again”, and many of those food banks are already at a crisis point…

Fitzgerald, of Feeding America, says providers around the country are dipping into emergency reserves, switching to cheaper products, limiting how often people can visit or how much food they can get, and “stretching their inventory to be able to meet more people’s needs.”

If our food banks are in such distress now, what will things be like six months or a year from today?

Because the truth is that food supplies are only going to get tighter.

The winter wheat harvest in the U.S. is going to come in way, way below original expectations.  In fact, we are being told that the winter wheat harvest in Kansas could be down “by more than 25%”…

The U.S. winter wheat harvest potential in Kansas has dipped by more than 25% because of severe drought, and farmers in the state may leave thousands of acres of wheat in fields this year instead of paying to harvest the grain hit by the dry winter.

Looking ahead, a lot less wheat is being planted for the coming growing season because of extremely bizarre weather patterns in some areas.

For example, the amount of wheat that is currently being planted in North Dakota is expected to be the smallest ever recorded…

Some farmers in North Dakota are unable to plant as much wheat as they normally would because of heavy rain across the state.

Government data shows the state is expected to plant wheat over the smallest recorded share of its farmland.

For much more on why U.S. food production is going to continue to shrink in the months ahead, please see this article.

The bottom line is that we are facing really severe problems that are not going to go away any time soon.

And if you are waiting for Joe Biden to come to the rescue, you are going to be waiting for a very long time…

The president of the United States says he understands that inflation is impacting family budgets. But on Wednesday, he said he’s not “aware” of any “immediate action” that would reduce food and fuel prices.

“[W]e can’t take immediate action, that I’m aware of yet, to figure out how we bring down the price of gasoline back to three dollars a gallon. And we can’t do that immediately with regard to food prices, either,” Biden said.

A historic economic nightmare is here, and the guy in the White House is all out of answers.

So buckle up and try to enjoy the ride.

The months ahead are going to be quite chaotic, and you probably don’t even want to think about what is coming after that.

***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.

Not too long ago, the elite were trying to put a happy face on our growing economic problems.  It was obvious that things were trending in a very alarming direction, but they kept assuring us that any bumps in the road were just temporary and that a new golden age of prosperity was just around the corner.  Needless to say, there were dead wrong, and now some of them are publicly admitting the truth.  For example, JPMorgan Chase CEO Jamie Dimon just publicly stated that an economic “hurricane” is rapidly approaching…

Jamie Dimon is no meteorologist, but the JPMorgan Chase CEO is predicting an economic “hurricane” caused by the war in Ukraine, rising inflation pressures and interest rate hikes from the Federal Reserve.

“Right now it’s kind of sunny, things are doing fine. Everyone thinks the Fed can handle this,” Dimon said at a Bernstein conference. “That hurricane is right out there down the road coming our way.”

JPMorgan Chase is one of the most important financial institutions in the entire world.

So it is a really big thing for Dimon to make a statement like this.

Of course he is right on target.  An economic hurricane is coming, and it is going to be far more horrible than most Americans could possibly imagine right now.

Treasury Secretary Janet Yellen also just said something that is making a lot of headlines.

Last year she insisted that high inflation would just be “transitory”, but now she is openly admitting that she “was wrong”…

“I was wrong then about the path that inflation would take. As I mentioned, there have been unanticipated and large shocks to the economy […] that I, at the time, didn’t fully understand.”

.@SecYellen on inflation being transitory: “I was wrong then about the path that inflation would take. As I mentioned, there have been unanticipated and large shocks to the economy […] that I, at the time, didn’t fully understand.” https://t.co/AlrXn4kT0r pic.twitter.com/9tqxo0iA3B

— The Hill (@thehill) June 1, 2022

It isn’t exactly a surprise that she turned out to be completely wrong about high inflation being transitory.

We knew that she was wrong when she said it.

But I will give her credit for publicly admitting a mistake.  Many in Washington will never do such a thing under any circumstances.

At this point, it should be obvious to everyone that we are in the midst of an absolutely horrifying inflation crisis.

On Wednesday, the average price of a gallon of gasoline in the United States jumped another nickel to $4.67.  But the real story is the crazy prices that we are starting to see out on the west coast.  For instance, one gas station in Los Angeles is now charging more than 8 dollars a gallon for regular gasoline…

A Chevron station in downtown Los Angeles on the corner of Alameda Street and Cesar E. Chavez Avenue is charging customers over $8 for regular gasoline causing some locals to complain about price gouging, KTTV Los Angeles reported on Tuesday.

In a statement to KTTV, Chevron pointed out that the majority of its California branded stations are independently owned and that “unique” factors are contributing to gas prices in the Golden State.

How soon will we see someone break the 10 dollar a gallon threshold?

Will it be by the end of the summer?

In some cities, the price of a gallon of gasoline is already higher than the hourly minimum wage.

That is nuts!

Of course diesel prices have been rising even faster, and this is putting a tremendous amount of financial strain on America’s farmers.  If you doubt this, just check out what Texas Agriculture Commissioner Sid Miller just told Maria Bartiromo…

When Bartiromo noted “filling a tractor daily now costs farmers $1,000 – twice what it was a year ago,” Miller responded, “it’s through the roof, but it’s not just diesel.”

“It’s fertilizer prices. It’s parts. We can’t get new tractors, new combines. We can’t get new tillage equipment,” he stressed. “So we have to keep running our older equipment, which we can’t get parts for. And so it’s just a whole comedy of errors, and it just multiplies on top of itself.”

When costs go up for farmers, they inevitably get passed on to consumers.

And we have already been seeing food prices spike dramatically.  Just check out these numbers from April…

Food grains—including corn and wheat—were up 2.8 percent for the month and 45 percent compared with a year ago. Feed grain prices increased 7.8 percent from the prior month and 33 percent from a year ago.

The poultry and egg index jumped 22 percent from March and 94 percent from a year earlier. The April market egg price, at $2.21 per dozen, is 81.0 cents higher than March and $1.64 higher than April 2021. The price of chickens raised for meat, at $1.05 per pound, is 15.3 cents higher than March and 49.7 cents higher than a year ago. At 95.3 cents per pound, the April turkey price is 2.5 cents higher than the previous month and 18.5 cents higher than April 2021.

Milk prices climbed 4.12 percent in April and are up 47 percent compared with a year earlier.

In the entire history of our nation, we have never seen anything like this.

But as I keep warning my readers, this is just the beginning.

In fact, one prominent Texas farmer is warning that food prices “are going to double”…

“People don’t realize what’s fixing to hit them,” said Texas farmer Lynn “Bugsy” Allen.

“They think it’s tough right now, you give it until October. Food prices are going to double.”

Can you imagine that?

Can you imagine what it will do to our country if food prices double from their already extremely inflated levels?

People will go absolutely bananas.

But this is exactly the type of scenario that I have been warning about for years.

Eventually, food will become such a prime target for thieves that we will actually see armed guards escorting grocery store delivery trucks.

And civil unrest will erupt all over the planet as millions upon millions of poor people get hungrier and hungrier.

Unfortunately, even though so many are now sounding the alarm, the vast majority of the population still has no idea what is coming our way.

***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.

All of a sudden, just about everyone is upset about inflation.  It would have been nice if everyone would have been this upset back when our leaders were making the exceedingly foolish decisions that resulted in this crisis.  In May 2012, the federal government was 15 trillion dollars in debt.  Now we are 30 trillion dollars in debt, but our politicians continue to spend money as if tomorrow will never come.  Meanwhile, the Federal Reserve has pumped trillions of dollars that they created out of thin air into the financial system in recent years.  For a very long time, I passionately denounced what our leaders were doing, because I knew what would happen.  Now a day of reckoning has arrived, and millions upon millions of Americans are absolutely desperate for things to return to normal.  Unfortunately, that simply is not going to happen.

In May 2020, the average price of a gallon of gasoline in the United States was less than two dollars.

Today, the average price of a gallon of gasoline in the United States reached a brand new record high of $4.62, and we are being warned that it could soon go to “$5 a gallon or more”…

The national average for unleaded gas hit another new high of $4.62 per gallon Tuesday, according to AAA data. Prices are up more than 50% compared with last year.

Analysts say gasoline prices usually peak by mid-May, but this year prices at the pump could continue to rise into July and reach about $5 a gallon or more.

Most of the time, the vast majority of the population doesn’t pay much attention to economics.

But this is where the rubber meets the road, and two recent polls show very clearly that Americans are becoming increasingly frustrated…

An NBC News poll released earlier this month found that 33 percent of Americans approve of Biden’s handling of the economy, while 23 percent approve of his handling of the cost of living.

A Washington Post-ABC News poll in early May found that more than 9 in 10 Americans are concerned, at a minimum, about the rate of inflation, which has been at a 40-year high for months. That included 44 percent who say they are “upset” about the problem.

In addition, Gallup’s Economic Confidence Index has now fallen to the lowest reading that we have seen since the end of the Great Recession…

Gallup’s Economic Confidence Index measured -45 in May, down from -39 in each of the previous two months. It is the lowest reading in Gallup’s trend during the coronavirus pandemic, and likely the lowest confidence has been since the tail end of the Great Recession in early 2009.

When things go bad, who are people going to blame?

More than anyone else, people are going to blame the guy in the White House.

And right now the Biden administration is absolutely desperate “to contain the political damage caused by inflation”…

The White House launched a new push Tuesday to contain the political damage caused by inflation after President Biden complained for weeks to aides that his administration was not doing enough to publicly explain the fastest price increases in roughly four decades.

Aiming to demonstrate to the public that it is responding to its concerns, Biden met with Federal Reserve Chair Jerome H. Powell in the Oval Office, wrote an op-ed in the Wall Street Journal about inflation and sent top aides across major networks to push the administration’s economic message.

What is Biden’s “economic message” exactly?

I have been sitting here pondering that question, and I honestly cannot answer it.

Every day, the story seems to change.  A while back, Biden promised to do all that he could to lower gasoline prices, and he foolishly released a million barrels from the Strategic Petroleum Reserve.

That didn’t work.

So what now?

One insider told Politico that high gasoline prices are “a really difficult issue to message around”, because “you can’t deny the reality”…

The White House’s focus on gas prices is bred from two sobering political conclusions top officials have made. The first is that they have little control over the problem. The second is that as prices rise at the pump, so do Democrats’ odds of a midterm wipeout — especially as the average U.S. gallon of gas hits fresh record highs.

“There really isn’t one silver bullet,” said one person familiar with the discussions. “It’s a really difficult issue to message around when you can’t deny the reality.”

If Joe Biden asked me what he should do in order to reduce gasoline prices, the first thing I would say would be to stop doing things that are counterproductive.  The following comes from a recent editorial by Marc A. Thiessen…

If the Biden administration cared about high gas prices, they would be doing everything in their power to increase domestic production. After a federal judge invalidated an offshore oil and gas lease sale in January, the administration chose not to appeal and has since canceled three transactions in the Gulf of Mexico and off the coast of Alaska — taking millions of acres off the auction block. The Post called the move “a victory for climate activists intent on curbing U.S. fossil fuel leasing,” which “effectively ends the possibility of the federal government holding a lease sale in coastal waters this year.” Worse, the administration is about to let the nationwide offshore drilling program expire next month without a new plan in place.

Moving forward, we need to remove mountains of regulations that have made it extremely difficult to build and operate new refineries in the United States.

And we need far more exploration and far more drilling as soon as possible.

Of course the truth is that this isn’t just a U.S. problem.

Energy prices are out of control all over the world, and they are actually much higher in Europe than they are here.

In fact, soaring energy prices are a big reason why inflation in the European Union just hit a brand new record high…

Following Germany’s post-Weimar record high inflation print, the European Union’s consumer price inflation data this morning surged to a record high at +8.1% YoY (notably hotter than the +7.8% YoY expected).

Most Americans don’t realize this, but Europe is actually much closer to a full-blown economic meltdown than we are.

I expect the euro to fall below parity with the dollar in the not too distant future.

And I expect a nightmarish energy crunch in Europe as supplies from Russia are restricted or cut off completely.  Unless something changes, next winter is going to be a really challenging time for many European nations.

We have entered the worst energy crisis in modern history, but what we have experienced so far is just the beginning.

Much worse is ahead, and the American people will become increasingly frustrated as prices just keep going higher and higher.

***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.

We are supposed to believe that what we are witnessing is just one “tragic accident” after another.  We aren’t supposed to see any sort of a pattern, and we aren’t supposed to ask any questions.  Last month, I wrote an article about 16 mysterious fires that have happened at important food industry facilities in the United States since the start of 2022.  Unfortunately, this trend has continued since that time.  In fact, there have been more “accidental fires” in recent days, and I believe that the American people deserve some answers.

On Saturday night, a “massive” fire erupted at a commercial egg farm in Minnesota.

We are being told that the structure that burned down contained “tens of thousands of chickens”…

Massive flames burned down a barn with tens of thousands of chickens in Wright County.

The fire started late Saturday night at Forsman Farms in Howard Lake, causing major damage.

Like so many of the other mysterious fires that I have reported on, this fire grew to an absolutely enormous size very, very rapidly…

The Trebesch family thought they would spend Saturday night around their bonfire, but just after 10 p.m. they noticed massive flames across the field at Forsman Farms.

“It was unbelievable how quick it grew, it was insane,” Andy Trebesch said. “It was the whole sky, it was quite large.”

We are being told that there was no foul play.

Just another senseless accident.

Nothing to see here.

Of course the same explanation is being given for a “dramatic fireball” that burned a grain silo to the ground in Washington state just a few days ago…

A spectacular fire demolished M & E Seed and Grain Co. in Prosser and left one person with burns.

A smoldering pile of twisted metal and charred lumber was all that remained Thursday morning after firefighters battled the blaze in downtown Prosser all night.

A few firefighters remained at the scene to monitor the fire.

They are assuring us that this sort of thing happens all the time.

So don’t try to apply common sense to any of this, because that will just confuse you.

A few days before that tragedy in Washington state, 43 rail cars that were carrying much needed potash derailed in Alberta…

About 43 westbound Canadian Pacific (CP) Rail cars carrying potash derailed northeast of Fort Macleod, Alta., Sunday morning, RCMP say.

At 8:15 a.m., Mounties responded to a train derailment between Range Roads 251 and 252, near Highway 3. Fire crews and CP Rail also came to the scene, according to police.

So what are Canadian authorities telling us about this incident?

You guessed it!

Apparently it was just another “accident”.

#BREAKING: Massive train derailment in Alberta Canada

#Alberta l #Canada
⁰Authorities in Alberta Canada are at the scene and currently underway cleaning up after a massive train derailment with 43 CP Rail train cars carrying potash detailed no injuries were reported pic.twitter.com/fVqXEqWCdd

— R A W S A L E R T S (@rawsalerts) May 23, 2022

People sure are getting careless these days, because “accidents” just keep happening time after time after time.

And all of this is taking place at a moment in history when we are being told that we are about to enter an absolutely horrifying global food crisis.

During recent testimony in front of the UN Security Council, the CEO of Gro Intelligence warned that “the lowest grain inventory levels the world has ever seen” are getting even lower…

Menker said estimates from official government agencies from across the world show that wheat inventories at 33% of annual consumption, but added that models created by Gro Intelligence show that the figure may actually be closer to 20%, a level not seen since 2007 and 2008.

“It is important to note that the lowest grain inventory levels the world has ever seen are now occurring while access to fertilizers is highly constrained,” she said. “And drought in wheat growing regions around the world is the most extreme it’s been in over 20 years. Similar inventory concerns also apply to corn and other grains.”

In other words, there isn’t going to be enough food for everyone.

As I noted yesterday, we are being told that one-fifth of the entire population of the globe could soon descend into poverty and hunger…

For months, the specter of a global hunger crisis has been looming. The war in Ukraine is a compounding factor, blocking key value chains for food and fertilizer just as the world reckons with the impacts of the COVID-19 pandemic on global hunger.

Add the pervasive effects of climate change to the mix, and the result is what the United Nations is calling a “perfect storm” that risks one-fifth of the global population – as many as 1.7 billion people – falling into poverty and hunger.

I am not the one saying that one-fifth of the global population is heading into poverty and hunger.

It is the United Nations that is saying this.

Of course it is quite true that I have been warning that a “global famine” was coming for a very long time, and now it is here.

David Beasley, the head of the UN World Food Program, says that his organization is already taking food away from the hungry to feed the starving.

So what is he going to do when countless millions are starving all over the planet?

Global trends have been pushing us in this direction for years, but now the events of 2022 have greatly accelerated the development of the “perfect storm” that we are now facing.

We are being told that things will be far worse by the end of 2022 than they are now, and you probably don’t even want to hear about what the outlook for 2023 looks like.

You can try to ignore this growing crisis if you want, but it is not going away.

A nightmare of epic proportions has begun.  Unfortunately, this is a nightmare that is not going to end any time soon.

***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.

Are you ready for what is coming next?  Are you ready to pay six dollars for a gallon of gasoline?  Are you ready to pay much higher prices for everything at our major stores as the price of diesel goes haywire?  Are you ready for widespread blackouts all over the U.S. this summer?  Unfortunately, we are being warned that all of these things are coming.  The worst energy crisis in U.S. history is poised to get even worse in the months ahead, and there is no “silver bullet” on the horizon which is going to magically solve our problems.  The refineries that we need are not being built and the drilling that needs to be done is not really happening.  Of course energy supplies are getting tighter and tighter all over the globe, and things will go to an entirely new level once the next major war starts.

Needless to say, things are bad enough already.  On Sunday, the average price of a gallon of gasoline in the United States set a brand new all-time record high of $4.61 a gallon…

Gas prices in the US soared to record heights again Sunday, reaching an all-time high of $4.61 per gallon.

The number is more than 50 percent higher than the cost of a gallon a year ago. It comes as gas prices have continued to climb during Joe Biden’s presidency, and as millions of Americans are poised to travel by road for Memorial Day weekend.

A 50 percent increase in just one year.

Just think about that.

To my knowledge, we have never seen anything like this before.

If you can believe it, the average price of a gallon of gasoline has jumped 25 cents over the past six weeks.

That is crazy, but we are being warned to expect significantly higher prices “by the end of the summer”…

Experts say that number will likely surpass the $6 mark by the end of the summer – as pump costs in West Coast cities such as Los Angeles and San Francisco already meeting that mark earlier this month.

I still remember when I could get 20 gallons of gas for 20 dollars.

Soon, 20 gallons of gas will cost all of us 120 dollars.

Who can afford that?

The price of diesel has been increasing at an even faster pace.

In fact, it has risen a staggering 75 percent since last Memorial Day…

Diesel prices are up as well – by a whopping 75 percent from Memorial Day last year – at around $5.50 a gallon, also an all-time record.

The rising cost of the fuel – commonly used by truckers for their rigs – has further hampered America’s embattled economy, driving up prices of good being transported cross-country by truckers, who are now electing for shorter routes due to the ‘unprecedented’ increase.

‘I can pretty much count on setting on fire $5-$700 a day…minimum,’ 22-wheel driver Eric Jammer told NPR Saturday of the rise in diesel costs seen over the past 12 months.

The trucks and trains that bring our goods to the stores run on diesel.

Diesel is only going to get more expensive from here, and America’s companies are going to pass those costs along to the consumers.

Yes, that will be quite painful.

Thanks to the soaring cost of fuel, airline fares are also shooting up dramatically…

Domestic airline fares for summer are averaging more than $400 for a round trip, 24 percent percent higher than this time in 2019, before the pandemic, and a full 45 percent higher than a year ago, according to travel-data firm Hopper.

One survey that was conducted just a few days ago found that approximately a third of all Americans say that their travel plans for Memorial Day were affected by high energy prices.

Joe Biden promised to do all that he could to drive down gasoline prices, and in order to try to keep that promise he foolishly took enormous amounts of fuel out of our strategic reserve.

Obviously that didn’t work, and now we are being told that Biden is running out of options…

President Joe Biden has vowed to do everything in his power to fight record-setting gasoline and diesel prices, but he’s up against a stark reality: There are few options for taming the surge.

While Biden has unleashed an unprecedented amount of oil from the US Strategic Petroleum Reserve, other tools at the administration’s disposal would come at the expense of environmental protection and have little effect on fuel costs stoked by strained crude supplies and a global shortage of refining capacity. And the one sure-fire fix — for Americans to stop driving so much — is largely outside his control.

In case you haven’t figured it out by now, Joe Biden is not going to save us from this crisis.

In the short-term, nobody is going to save us from this crisis.

We need more refineries, we need more drilling, and ultimately we are going to need some major technological breakthroughs because the way that we are currently doing things is not even close to sustainable.

On top of everything else, our rapidly aging power grids were never designed to handle so much demand.  According to CBS News, we could potentially be facing widespread outages during the summer of 2022…

In its annual summer assessment released this week, the North American Electric Reliability Corporation noted that the Upper Midwest is facing a capacity shortfall leading to a “high risk of energy emergencies.” The entire Western U.S. also could face a power outage emergency in the event of spikes in energy use.

“We’ve been doing this for close to 30 years. This is probably one of the grimmest pictures we’ve painted in a while,” John Moura, NERC’s director of reliability assessment and performance analysis, told CBS MoneyWatch.

What will you do if the power in your area goes out for an extended period of time?

We all know that California has been experiencing problems for years, but in 2022 we are being told that the middle of the nation is actually at greatest risk…

In a large swath of the grid stretching from Illinois to Minnesota, the summer’s power demands are projected to exceed the grid’s capacity. That’s because this area of the grid — known as the Midcontinent Independent System Operator, or MISO — has lost about 2% of its generation capacity since last year as plants have retired; a key transmission line is also down for maintenance.

Perhaps you think that my headline is a little too dramatic.

Perhaps you do not yet believe that we are facing the worst energy crisis in U.S. history.

If that is the case, give it a few months.

By the end of the summer, I think that everyone will understand that we truly have entered a nightmare with no end in sight.

***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.

The U.S. economy is slowing down more quickly than almost all of the experts had anticipated.  As I detailed yesterday, U.S. consumers have been getting hit extremely hard by this economic slowdown, and at this point most Americans believe that a recession is coming.  But could it be possible that a recession has already begun?  As you will see below, the numbers seem to indicate that such a scenario is quite likely.  But whether we are already officially in a recession or not, the truth is that whatever we are experiencing now is nothing compared to the pain that is eventually coming down the road.

Do you remember how painful it was for our society when the first housing bubble spectacularly imploded back in 2008?

Well, it is starting to happen again.  On Thursday we learned that pending home sales in the United States have now fallen for six months in a row…

Pending home sales slipped in April, as contract activity decreased for the sixth consecutive month, the National Association of Realtors® reported. Only the Midwest region saw signings increase month-over-month, while the other three major regions reported declines. Each of the four regions registered a drop in year-over-year contract activity.

The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator of home sales based on contract signings, slid 3.9% to 99.3 in April. Year-over-year, transactions fell 9.1%. An index of 100 is equal to the level of contract activity in 2001.

Earlier in the week, I discussed the fact that new home sales were 26.9 percent lower this April than they were last April.

We are clearly past the peak of the housing bubble, and now the rollercoaster is very rapidly headed in a downward direction.

Of course the economy as a whole is starting to head in a downward direction.  On Thursday we also learned that U.S. GDP for the first quarter of 2022 had been revised even lower…

First-quarter gross domestic product declined at a 1.5% annual pace, according to the second estimate from the Bureau of Economic Analysis. That was worse than the 1.3% Dow Jones estimate and a write-down from the initially reported 1.4%.

Downward revisions for both private inventory and residential investment offset an upward change in consumer spending. A swelling trade deficit also subtracted from the GDP total.

Many experts are assuring us that GDP growth will bounce back into the green for the second quarter.

But it if doesn’t, that would mean that GDP has contracted for two quarters in a row, and that would officially confirm that we are in a recession right now.

Of course even if GDP does bounce back this quarter, the outlook for the months ahead is not promising at all.

In fact, a survey of 500 prominent CEOs just found that 75 percent of them expect a recession to begin by the end of next year…

At this time last year, the Fortune 500 CEOs we surveyed were breathing a collective sigh of relief as profits and revenues came roaring back from the ravages of the pandemic. This spring, that roar sounds uncomfortably loud, as companies cope with soaring inflation and the growing likelihood that sky-high prices and labor shortages will help tip the economy into recession. In all, 75% said they expected the next recession to begin by the end of 2023, though only 32% believed it would start in this calendar year.

Just about everyone can feel that economic troubles are in our future, and that will especially be true if the Federal Reserve keeps raising interest rates.

Unfortunately, the Fed feels forced to raise rates because inflation has gotten wildly out of control.

If you can believe it, the average price of a gallon of gasoline in the United States has risen by 47 cents in just the past month alone…

Gas prices have increased by over 47 cents in the last month alone as the U.S. continues to smash gas price records day by day under President Joe Biden’s leadership.

On Wednesday, May 25, the U.S. recorded yet another all-time high, as the average price of gas stands at $4.599 for regular gas. This reflects an over 47 cent rise in the last month alone. One month ago, the gas price average stood at $4.123.

That is insane!

And U.S. natural gas prices have risen almost 150 percent so far in 2022…

U.S. natural gas prices have skyrocketed nearly 150% this year while inventory levels have shrunk, signaling more consumer pain ahead of the summer season.

The Henry Hub natural gas spot price, an indicator of nationwide prices, stormed past $9.30 per million British thermal units (MMBtu) Thursday, up from its early January price of $3.74 per MMBtu and the highest level since 2008, according to government data.

Food prices continue to soar into unthinkable territory as well.

This week, a single trip to the grocery store cost me 309 dollars, and I was trying to be very frugal.

309 dollars!

I remember a time when you could buy a used vehicle for that kind of money.

For years, I have been warning that our leaders were destroying our currency and setting the stage for nightmarish inflation, and now that time has arrived.

And all of the borrowing and spending that our politicians have been doing has made our national long-term financial problems exponentially worse…

Over the past two years, $4.6 trillion has been provided by Congress in response to the COVID-19 pandemic. The impact on inflation, particularly the timing of the $1.9 trillion American Rescue Plan Act in March 2021, is subject to some debate, but what cannot be denied is the impact this spending has had on the interest paid on the national debt. Between 2011-2018, interest on debt held by the public averaged $272 billion annually. Between 2019-2021, annual interest on the debt averaged $389 billion, an increase of $117 billion, or 43 percent. The president’s fiscal 2022 budget, which is the first to project deficits of more than $1 trillion for 10 consecutive years, estimates that FY 2022 interest on debt of $26.3 trillion will be $305 billion and reach $941 billion in FY 2031, or more than triple the amount for the current fiscal year. By that time, interest payments will account for 59 percent of the projected $1.6 trillion deficit.

We could have avoided all of this if we had taken a different path.

But we didn’t.

Instead, we kept sending the big spenders back to Washington time after time.

We thought that we could keep kicking the can down the road and get away with it, but instead we have literally destroyed America’s financial future.

***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.

Prices are soaring, there are widespread shortages of certain items such as baby formula all over the nation, and at the same time U.S. economic activity appears to be really slowing down.  Considering all of that, it makes perfect sense why the American people are feeling so negative about the economy right now.  In fact, a whopping 85 percent of all Americans believe that there will be a recession within the next year.  These days, it is virtually impossible to get Americans to overwhelmingly agree about anything, and so the fact that 85 percent of us are anticipating a recession is a really big deal.  Just about everyone realizes that economic conditions are going to get worse, but for those of you that still doubt where we are headed here are 11 statistics that show how U.S. consumers are faring in this rapidly deteriorating economy…

#1 According to a Harvard CAPS/Harris Poll that was recently conducted, 56 percent of Americans say that their financial situations are getting worse, and only 20 percent of Americans say that their financial situations are improving.

#2 Another new survey has just discovered that 66 percent of Americans “have avoided social events because they’ve felt embarrassed or uncomfortable” about their financial situations.

#3 The housing bubble appears to be bursting.  At this point, sales of new single family homes are falling at a very frightening pace…

Sales of new single-family houses in April plunged by 16.6% from March and by 26.9% from a year ago, to a seasonally adjusted annual rate of 591,000 houses, the lowest since lockdown April 2020, according to the Census Bureau today. Sales of new houses are registered when contracts are signed, not when deals close, and can serve as an early indicator of the overall housing market.

#4 After breaking the all-time national record in March, the average price of a gallon of gasoline in the United States has gone 42 cents above the old record and is now sitting at $4.59.

#5 The average age of a car on U.S. roads has reached an all-time record high of 12.2 years.  Many Americans continue to delay replacing their current vehicles because new vehicles have become so unaffordable.

#6 Millions of American families are struggling with rapidly rising food prices…

The index for food away from home increased 7.2% over the last year, the Labor Department reported earlier this month. Food prices were up 9.4% in April from the same time last year — the biggest jump since April 1981, the Bureau of Labor Statistics recently reported. And grocery store prices increased 10.8% for the year ended in April.

#7 U.S. natural gas futures just crossed the nine dollar threshold – the highest level that we have seen since the financial crisis of 2008.  That means that much higher energy costs are on the way for U.S. consumers.

#8 Multiple Fed surveys are showing that manufacturing activity in the U.S. is really slowing down…

The slowdown in manufacturing activity on display in reports from the Federal Reserve banks of New York and Philadelphia was confirmed by a survey from the Richmond Fed indicating that factory activity contracted in the mid-Atlantic region in May.

The Fifth District Survey of Manufacturing Activity index dropped 23 points from a positive reading of 14 in April to a minus nine, the lowest reading since May 2020, when much of the economy was still reeling from the onset of the pandemic and lockdowns.

#9 Zero Hedge is reporting extremely depressing news about U.S. macro data: “Other than April 2020 – when the entire economy was closed – May’s serial disappointment in US Macro data is the worst since Lehman”

#10 Thanks to plunging stock prices, approximately 20 trillion dollars in household net worth has been “wiped out” so far this year.

#11 A new CBS News/YouGov survey has found that 74 percent of Americans believe that things are going badly in this country and that 51 percent of Americans actually believe that Joe Biden is “incompetent”.

Right now, conditions are so similar to what we witnessed just before the financial crisis of 2008.

If we had addressed our long-term problems back then, perhaps we would be in a much different place at the moment.

But instead, we appear to be poised to repeat history in a lot of ways.

In fact, many experts believe that the crisis that is staring us in the face will be even worse than what we went through more than a decade ago.  For example, just check out what Peter Schiff is saying…

This one is going to be even bigger because the economy has a lot more debt now than it did in 2008. And Americans are less able to pay it when interest rates rise because the balances are much greater. So, we’re in much worse shape as a result of all the bailouts and all the stimulus that papered over the last crisis. So, now the one we’re dealing with is going to be much worse because we kicked the can down the road instead of solving the problem when we had a chance.”

He makes some really great points.

Every time there has been some sort of a crisis in our society, our leaders responded by showering the system with even more money.

In 2008, the U.S. national debt crossed the 10 trillion dollar threshold.

In 2022, the U.S. national debt has crossed the 30 trillion dollar threshold.

Our politicians have been systematically destroying our future, and most Americans didn’t seem to care.

Now a day of reckoning has arrived, and it is going to be immensely painful.

There is no silver bullet that is going to cure inflation.

The Federal Reserve is going to try to tame inflation by hiking interest rates, but that will just destroy the housing bubble and dramatically slow down the economy.

And there is no silver bullet that is going to end the shortages that we are currently facing.

We are now experiencing some of the consequences of decades of mismanagement, and a lot more pain is on the way.

***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.