Money

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

August 10, 2022August 10, 2022 by Michael

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

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

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

Meanwhile, food costs continue to spiral out of control…

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

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

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

Those numbers are absolutely abysmal.

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

What will 25 dollars get you today?

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

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

47 percent!

That is nuts.

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

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

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

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

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

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

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

Ouch.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

You can believe that if you want.

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

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

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 The Real Reason Why They Raided Mar-a-Lago

August 9, 2022 by Michael

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

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

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

Of course they are above the law.

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

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

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

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

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

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

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

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

And that is exactly what they want.

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

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

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

I don’t blame him.

I would be horrified too.

They didn’t even treat Richard Nixon like this.

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

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

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

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

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

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

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

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

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

They aren’t going to stop until they win.

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

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

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

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

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

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

August 8, 2022August 8, 2022 by Michael

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

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

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

This move by China crosses a very important line.

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

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

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

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

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

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

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

And let us hope that actually happens.

But right now both sides continue to escalate matters.

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

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

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

That certainly won’t ease tensions.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

August 7, 2022August 7, 2022 by Michael

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

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

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

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

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

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

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

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

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

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

What are those people thinking?

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

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

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

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

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

Instead, it will just make it even worse.

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

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

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

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

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

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

Ouch.

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

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

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

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

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

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

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

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

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

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

Has it really come to this?

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

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

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

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

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

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

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

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

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

August 5, 2022 by Michael

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

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

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

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

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

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

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

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

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

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

But I feel I can’t go up from here.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Why Is Walmart Laying Off So Many Workers?

August 4, 2022August 4, 2022 by Michael

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

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

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

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

And the projections that the company recently released confirm this…

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

So many people are hurting out there right now.

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

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

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

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

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

Can you identify with Kelly Wilcox?

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

But these days it seems like almost everyone is struggling.

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

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

That is frightening.

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

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

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

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

It’s Happening: Here Is A List Of 11 Big Companies That Have Announced Layoffs Within The Last 2 Weeks

August 3, 2022August 3, 2022 by Michael

When the economy slows down, layoffs inevitably happen. We witnessed this on a very large scale in 2008 and 2009, and now it is happening again. U.S. economic numbers are rapidly getting worse, and companies all across America don’t want to get caught with bloated payrolls as we plunge into a recession. As you will see below, many of the firms that are laying off workers are either in the real estate industry or the tech industry. Those are two industries that were on the leading edge of the “boom times”, and now it appears that they will also be on the bleeding edge as the economy crashes.

It is always a tragedy whenever any hard working American is forced out of a job. Unfortunately, what we are witnessing right now is just the beginning. The following is a list of 11 big companies that have announced layoffs within the last 2 weeks…

#1 Ultratec Inc. says that it will be laying off more than 600 workers.

#2 Electric truck maker Rivian will be laying off approximately 840 workers.

#3 7-Eleven has announced that it will be eliminating 880 corporate jobs.

#4 Shopify is laying off about 1,000 people.

#5 Vimeo says that it will be eliminating 6 percent of its current workforce.

#6 Redfin will be reducing the size of its workforce by 8 percent.

#7 Compass will be reducing the size of its workforce by 10 percent.

#8 RE/MAX will be reducing the size of its workforce by 17 percent.

#9 Robinhood will be reducing the size of its workforce by 23 percent.

#10 It is being reported that Ford “is preparing to cut as many as 8,000 jobs in the coming weeks”.

#11 Geico has closed every single one of their offices in the state of California, and that will result in vast numbers of workers losing their jobs…

GEICO, one of the largest insurance companies in the United States, reportedly closed all 38 of it’s California offices on Monday, resulting in hundreds of workers being laid off.

According to the company, GEICO would not be leaving outright, and will still be offering policies directly online, with all insurance functions continuing as normal. Buying directly through agents by phone, however, will not be possible.

“We continue to write policies in California, and we remain available through our direct channels for the more than 2.18 million California customers presently insured with us,” said GEICO in a statement on Monday.

On top of everything else, Amazon has announced that it reduced the size of its workforce by approximately 100,000 workers in just one quarter…

With recession fears mounting — and inflation, the war in Ukraine and the lingering pandemic taking a toll — many tech companies are rethinking their staffing needs, with some of them instituting hiring freezes, rescinding offers and making rounds of layoffs.

Amazon.com Inc. was one of the latest companies to discuss its belt-tightening efforts this week. During its quarterly earnings call Thursday, the e-commerce giant said it’s been adding jobs at the slowest rate since 2019. After relying on attrition to winnow its staff, Amazon now has about 100,000 fewer employees than in the previous quarter.

You could fill up two very large football stadiums with 100,000 workers.

Eventually, this wave of job losses will become a tsunami, and millions of Americans will suddenly find that they are unable to continue paying their bills.

Meanwhile, our new housing crash is starting to pick up speed as well.

In fact, we just witnessed an absolutely massive spike in the number of Americans that are searching for the term “sell my home fast” on Google…

Within hours of the latest GDP report on Thursday, which raised fears that the United States could be entering a recession, online search volume for “sell my home fast” spiked a whopping 2,750%.

Shortly after the Commerce Department released the report on July 28, revealing that the economy showed negative growth for a second straight quarter — shrinking by an annual pace of 0.9% — home sellers hoping for higher housing prices to continue are now concerned.

Just like in 2008 and 2009, a lot of Americans that bought near the peak of the market are going to end up underwater on their homes.

We didn’t learn from history, and so now we are repeating it.

And things are going to get worse and worse for the housing market as the Federal Reserve continues to raise interest rates.

Of course it isn’t just the U.S. that is going to be suffering in the months ahead.

The whole planet appears to be heading for a major downturn, and one of the largest shipping companies in the entire world has just confirmed that global economic activity is really starting to slow down…

AP Moller-Maersk on Wednesday predicted a slowdown in global shipping container demand this year amid weakening consumer confidence and supply chain congestion.

The Danish shipping and logistics company — one of the world’s largest and a broad barometer for global trade — said it loaded 7.4% fewer containers onto ships in the second quarter when compared to the same period in 2021, prompting it to revise the full-year outlook for its container business.

Europe is being hit harder than just about anywhere else.

Many of the numbers that are coming out of Europe are surprisingly bad, and now thanks to the war in Ukraine they are bracing for an extremely cold and bitter winter…

Germany’s presidential palace in Berlin is no longer lit at night, the city of Hanover is turning off warm water in the showers of its pools and gyms, and municipalities across the country are preparing heating havens to keep people safe from the cold. And that’s just the beginning of a crisis that will ripple across Europe.

It might still be the height of summer, but Germany has little time to lose to avert an energy shortage this winter that would be unprecedented for a developed nation. Much of Europe is feeling the strain from Russia’s squeeze on natural gas deliveries, yet no other country is as exposed as the region’s biggest economy, where nearly half the homes rely on the fuel for heating.

We haven’t seen anything like this in Europe since World War II.

In Spain, they have already resorted to extreme measures as they desperately attempt to conserve energy…

Responding to Europe’s energy crisis, Spain has controversially banned air conditioning from dropping below 27°C (80.6°F) in the summer.

The new government decree, which applies to a whole host of public buildings as well as shops, hotels and other venues, will also stop heating from being raised above 19°C during the winter.

“The rules will be mandatory in all public and commercial buildings, including bars, cinemas, theatres, airports and train stations,” reports EuroNews.

I am stunned by many of the things that I see in the news every day.

And things are only going to get worse as time rolls along.

Decades of incredibly foolish decisions have brought us to this point, and instead of reversing course our leaders continue to take us down the exact same road.

So we shall reap what we have sown, and it appears that there is an enormous amount of pain on the horizon.

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

A Matter Of Life And Death: Tens Of Millions Of Americans Will Be Without Medicine Once Trade With China Stops

August 2, 2022August 2, 2022 by Michael

If you are against a war with China, you need to make your voice heard while you still can. Because once the bullets start flying, it will be too late. Once a war with China starts, our current standard of living won’t just be interrupted. The truth is that our current standard of living would end. There are thousands upon thousands of products that we currently get from China that would very quickly disappear from store shelves. They simply would not be available any longer. And Taiwan produces more of our microchips than anyone else in the world by a very wide margin. When the microchips stop flowing our whole economy will come to a crashing halt. So the stakes are incredibly high, and most people don’t seem to realize this.

Nancy Pelosi knew that her visit to Taiwan would absolutely enrage the Chinese, but she did it anyway…

Pelosi and the rest of her delegation disembarked from a U.S. Air Force transport plane at Songshan Airport in downtown Taipei after the nighttime landing on a flight from Malaysia to begin a visit that risks pushing U.S.-Chinese relations to a new low. They were greeted by Taiwan’s foreign minister, Joseph Wu, and Sandra Oudkirk, the top U.S. representative in Taiwan.

Her arrival prompted a furious response from China at a time when international tensions already are elevated by Russia’s invasion of Ukraine. China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.

China is warning that there will be a military response, and the whole world is waiting to see what that will be.

If the Chinese don’t do anything more than they have already done, it will look like a big victory for Nancy Pelosi and the United States. There is no way that Xi Jinping is going to allow that to happen, and what happens next could change everything.

It is being reported that Chinese forces are gathering near the coast for a potential invasion, but I don’t think that China will launch a full-blown invasion of Taiwan quite yet.

Instead, I think that it is far more likely that China could grab a couple of the small islands right off the Chinese coast that currently belong to Taiwan.

If that happens, I believe that the Biden administration would feel compelled to respond very forcefully.

Of course if both sides keep raising the stakes it could escalate into a full-blown war in the Pacific very rapidly.

And once a conflict begins, our trading relationship with China will halt.

Are you prepared for that?

Needless to say, this would hurt us very badly in countless ways. For example, very little of our medicine is actually made here in the United States, and that is an enormous problem.

According to a statement posted on the official website of U.S. Representative Mike Gallagher earlier this year, 80 percent of the drugs that Americans use come from overseas, and China is the largest supplier…

“The Chinese Communist Party has threatened to withhold lifesaving drugs from the U.S. once and we’d be crazy to think they won’t attempt to do so again,” said Rep. Gallagher. “Congress needs an aggressive plan to protect our critical pharmaceutical supply chains and end our reliance on China. This is a national security imperative and to many Americans, a matter of life and death.”

“The United States must end our reliance on China for lifesaving drugs and critical medical equipment,” Stefanik said. “We have become far too dependent on China’s supply chain, and their malign regime represents too great a threat to our national security for us to be at their mercy. I am proud to sponsor this legislation to equip our domestic pharmaceutical and medical manufacturers to be able to efficiently produce these items here in the United States. Through this effort, Americans can have better peace of mind regarding who they rely on for their own personal health needs,” said Conference Chair Elise Stefanik.

“Eighty percent of the drugs that Americans depend on come from overseas,” said Rep. Bill Posey. “China, whose pharmaceuticals have been subject to numerous recalls, is the largest manufacturer. As a result of this reliance, the U.S. has not produced basic medicines like in the case of penicillin since 2004.”

Are the pills that you take every day made in China?

You might want to check.

And once war with China starts our supply of antibiotics will also dry up very, very rapidly…

Right now, the U.S. has virtually no capacity to manufacture antibiotics. That’s because China currently controls roughly 90% of the global supply of inputs needed to make the generic antibiotics that treat bronchitis, pneumonia, pediatric ear infections, and life-threatening conditions such as sepsis.

At the peak of last year’s COVID-19 hospitalizations in the U.S., these generic antibiotics—including azithromycin—were urgently needed to treat secondary bacterial infections. However, the U.S. faced a potential shortage, since the key materials for azithromycin and other drugs are supplied by China.

We should have never allowed ourselves to become so dependent on one of our primary global rivals.

All of the experts could see a scenario like this coming, but nothing was ever done. Two years ago, there was a major article about this in the New York Times…

“If China shut the door on exports of core components to make our medicines, within months our pharmacy shelves would become bare and our health care system would cease to function,” said Rosemary Gibson, a senior adviser with the Hastings Center and an author of “China Rx: Exposing the Risks of America’s Dependence on China for Medicine.”

Read that quote again.

If this thing with Taiwan gets out of control and we go to war, our health care system “would cease to function” for the duration of such a conflict.

So what would we do then?

Does anyone out there have an answer for that?

If people can’t get their pills, many of them will go absolutely insane. Never has there been a population that is more dependent on pharmaceutical drugs than we are…

Almost 70 percent of Americans take at least one prescription medication, and more than half take at least two, according to a new study by researchers at the Mayo Clinic. The most common prescriptions are for antibiotics, antidepressants and opioid painkillers.

One-fifth of Americans are taking five or more prescription drugs, CBS Atlanta reports.

As I have been warning for years, a full-blown war with China would be absolutely unthinkable.

But our leaders are provoking one anyway.

I wish that I had the words to express what I am feeling.

We are so close to a truly cataclysmic conflict, and if it happens it will be far more horrifying than any Hollywood movie studio could ever imagine.

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

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