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What I am about to share with you is a developing situation, and I hope to share more once the facts become clearer.  It appears that a very serious diesel crisis is coming in the months ahead, and that will have a dramatic impact on our economy.  As you will see below, we are being warned that there will be shortages of diesel fuel, diesel exhaust fluid and diesel engine oil.  Most diesel vehicles require all three in order to run, and so a serious shortage of any of them would be a major disaster.  Needless to say, simultaneous shortages of all three could potentially be catastrophic.  Most Americans don’t spend much time thinking about diesel, but without it our supply chains collapse and we don’t have a functioning economy.  In a recent Time Magazine article discussing the coming diesel fuel shortage, we are told that “the U.S. economy runs on diesel”…

Though most consumers shake their heads at the cost of gasoline and complain about the cost of filling up their car tanks, what they really should be worried about is the price of diesel. The U.S. economy runs on diesel. It’s what powers the container ships that bring goods from Asia and the trucks that collect goods from the ports and bring them to warehouses and then to your home. The farmers who grow the food you eat put diesel in their tractors to plow the fields, and the workers that bring construction equipment to build your home put diesel in their trucks.

Since January, supplies of diesel fuel have been steadily getting tighter.

As supplies have gotten tighter, prices have skyrocketed.  The average price of a gallon of diesel fuel hit $5.50 a gallon in early May, and it has remained above that level ever since.

One of the biggest reasons for the supply crunch is a serious lack of refining capacity.  Back in 1980, the U.S. had twice as many refineries…

There are also fewer refineries, which process crude oil into diesel and other products, in the U.S. than were just a few years ago. There are just 124 now operating, down from twice as many in 1980, and down from 139 in 2016, according to the U.S. Energy Information Association. The northeast region is particularly spare, with just seven refineries today, down from 27 in 1982.

There have already been some temporary outages of diesel fuel at a few locations around the country, and we are being warned that disruptions are likely to intensify during the summer months.

But the good news is that we aren’t going to run out of diesel fuel.  It may become a lot more expensive, and there may be painful temporary shortages, but we won’t run out of it.

Unfortunately, the crisis that we are facing with diesel exhaust fluid is potentially much more serious.

If you have just been skimming this article, this is the part where you need to start really paying attention.

Newsweek is telling us that the United States “could soon experience a severe shortage of diesel exhaust fluid”…

The U.S. could soon experience a severe shortage of diesel exhaust fluid (DEF), impacting U.S. drivers already hit with soaring fuel prices.

DEF is a solution made up of urea and de-ionized water that is needed for almost everything that runs on diesel. It reduces harmful gases being released into the atmosphere and works by converting nitrogen oxide produced by diesel engines into nitrogen and steam.

If you have a diesel vehicle that was sold in the United States after 2010, your vehicle could technically run without DEF, but in most cases your vehicle will simply not let you start it if the DEF tank is dry…

Can we call it a DEF jam? Everything is in short supply as supply chains continue to unlink. The latest commodity reportedly hit is DEF, or the blue diesel exhaust fluid that every diesel sold in the U.S. after 2010 needs to cut emissions. This means that every diesel truck, diesel RV, SUV, and car owner will likely have to look harder, and pay more for, DEF. A diesel engine can technically run without DEF, but your diesel vehicle likely won’t let you start it if the DEF tank is empty.

A lack of urea is the biggest reason for the growing shortage of DEF.

The United States is one of the largest importers of urea in the world, and Russia and China are two of the largest exporters.  In previous years that wasn’t a problem, but now the war in Ukraine has dramatically changed things…

A major portion of our urea comes from Europe, and because of the war in Ukraine we’re seeing a shortage of it, according to Newsweek. Russia is one of the world’s major exporters of it. China, too, is a major exporter of it, and it has suspended exports. Weather, too, has caused supply chain disruptions. Since it’s also a major component in fertilizers, there’s intense competition for urea.

Without enough DEF, our economy is going to be in for a world of hurt.

Meanwhile, Mike Adams is reporting on the growing shortages of diesel engine oil that are starting to happen all over the nation…

Retailers, customers and distributors are all reporting shortages in diesel engine oil. This is not an imaginary problem, it is a real problem that is so far entirely ignored by the corporate media.

Apparently there are some diesel engine oil additives that are in extremely short supply, and one industry insider is telling us that this problem isn’t going to be resolved any time soon.

So what this means is that people are going to start running out of diesel engine oil.

In fact, it is already being reported that the trains in Sri Lanka will soon have to completely shut down because of a lack of diesel engine oil…

Sri Lanka Railways said that it will NOT be possible to operate trains in the future due to the lack of engine oil. A senior official at Sri Lanka Railways said that the current level of engine oil would only last for another two months.

That’s in line with the warning we’re hearing in the states: About 8 weeks of diesel engine oil remaining in the pipeline.

Just solving one of the shortages that I have described in this article will not be enough.

As I noted in the opening paragraph, a diesel vehicle requires diesel fuel, diesel exhaust fluid and diesel engine oil in order to operate.

You need all three.

This is a story that I will be following very closely.  Needless to say, there are enormous implications for our supply chains and for our economy as a whole if solutions cannot be found.

***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.

Did you know that Kansas is known as “the Wheat State”?  In 2021, it produced nearly one-fourth of all wheat that was harvested in the United States.  Needless to say, we really need Kansas to come up big again this year because the war in Ukraine and a number of other factors have combined to bring us to the precipice of an absolutely horrifying global food crisis.  Unfortunately, things are not going well in Kansas this year.  In fact, wheat crops in much of the state are failing on a massive scale…

This time of year, the wheat growing in this part of western Kansas should be thigh-high and lush green.

But as a months-long drought continues to parch the region, many fields tell a different story.

“There’s nothing out there. It’s dead,” farmer Vance Ehmke said, surveying a wheat field near his land in Lane County. “It’s just ankle-high straw.”

At this point, the U.S. Department of Agriculture is telling us that 41 percent of all wheat in Kansas is in “poor” or “very poor” condition.

The situation is particularly dire in the western portion of the state.  It is being reported that many fields of wheat in western Kansas now resemble “barren wastelands”…

Across western Kansas, many fields planted with wheat months ago now look like barren wastelands. The gaping spaces between rows of brown, shriveled plants reveal hardened dirt that’s scarred with deep cracks from baking in the sun.

Of all the years for drought to hit western Kansas wheat farmers, it couldn’t have come at a worse time.

Even though the price of wheat has soared to crazy levels, it is being estimated that somewhere around 10 percent of all wheat fields in Kansas will not even grow enough crops to bother harvesting them.

That is really bad news, but the truth is that things are even worse in Colorado and Texas…

To the west in Colorado, projections say nearly one-third of wheat fields won’t produce enough to bother harvesting. In Texas, around three-quarters of the crop will likely be abandoned.

Please read that again.

This is enormous news, and it is going to deeply affect all of us in the months ahead.

At the worst possible time, wheat crops are failing on a massive scale all over the western half of the nation.

We have been stuck in a pattern of drought that resembles the Dust Bowl days of the 1930s for many years now, and things are starting to happen which would have once been unthinkable.

Lake Mead and Lake Powell have both dropped to all-time record lows, and the drinking water for tens of millions of Americans is now in jeopardy.

Lake Mead and Lake Powell, the 2 largest reservoirs in the US, which provide water to over 40 million Americans in Nevada, Arizona and California, are at their lowest levels ever.

This will have unprecedented consequences and require drastic water restrictions never seen before. pic.twitter.com/VSb6ZMtPRq

— US StormWatch (@US_Stormwatch) June 15, 2022

I wish that more people would understand the gravity of what we are potentially facing.

Down in Mexico, residents of Monterrey are already being limited to six hours of water a day because shortages have already become so severe…

In the sprawling metropolitan area of Monterrey, home to some 5.3 million people, the drought and years of below-average rainfall have led to citywide water shortages.

“We’re in an extreme climate crisis,” Nuevo Leon Governor Samuel Garcia said at a news conference last week. “Today, we’re all living it and suffering.”

The city in June began limiting water access to six hours a day, forcing schools to adjust class schedules and sparking panic buying of bottled water that emptied supermarket shelves.

The western half of North America is in the midst of the worst multi-year drought that it has experienced in 1,200 years, and experts are telling us that it isn’t going to end any time soon.

Meanwhile, UN Deputy Secretary-General Amina Mohammed is warning us that the planet is potentially facing “a food crisis of global proportions” in 2023…

First, time is short to prevent a food crisis of global proportions next year. We must stabilize global markets, reduce volatility and tackle the uncertainty of commodity prices. There can be no effective solution to the global food crisis without reintegrating Ukraine’s food production, as well as the food and fertilizer produced by the Russian Federation into world markets — despite the war. To avert a food availability crisis in 2023, we must restore fertilizer availability, especially for smallholder farmers now.

Global food production is going to be way below expectations all over the world this year, and we really are heading into a nightmarish worldwide food crisis.

I hope that you are preparing accordingly.

Before I end this article, there is one more thing that I wanted to mention.

Authorities are telling us that an absolutely massive sunspot known as AR3038 “is now facing Earth”…

An enormous sunspot that has doubled in size in only 24 hours is now facing Earth—meaning it could send a solar flare our way.

This particular sunspot has actually doubled in size for each of the past three days, and at this point it is approximately 2.5 times the size of our entire planet.

And we are being warned that it could “potentially send an M-class solar flare” directly at us…

“Yesterday, sunspot AR3038 was big. Today, it’s enormous,” reads the SpaceWeather.com website. “The fast-growing sunspot has doubled in size in only 24 hours.”

The magnetic field associated with the sunspot means it could potentially send an M-class solar flare at Earth—the second-strongest type. However, it is not known whether this will be the case.

Scientists are assuring us that we probably don’t have anything to be concerned about, and hopefully they are correct.

But let’s keep a close eye on this sunspot anyway.

As I have always warned, it is just a matter of time before another Carrington Event comes along.

We live during such unusual times, and things seem to be getting crazier with each passing week.

The “perfect storm” that so many have been warning about is now here, and the months ahead will be filled with chaos and uncertainty.

***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 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 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.

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 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.

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.

$COIN a year later pic.twitter.com/993EJ5CmLf

— Rahul (@rhemrajani9) June 14, 2022

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 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.

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.

Mortgage broker here. These rates are insane and making a HUGE impact on people’s ability to buy. Even well-qualified borrowers are getting priced out before eyes. $800/month higher than avg on 1/1 based on $450K loan amount.

— Morgan Faricy (@MorganFaricy) June 14, 2022

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 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.

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 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.

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 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.