The post What Is Happening In Haiti Will Come Here Too appeared first on The Economic Collapse.
]]>If you want an idea of what is coming, just look at what is happening in Haiti right now. Following years of disastrous policies, the entire nation has descended into a state of chaos…
The Republic of Haiti has been sliding toward failed state status for much of the 21st Century, but over the past few weeks, the collapse escalated at a blistering pace. Following the assassination of president Jovenel Moïse in 2021, the prime minister and acting president Ariel Henry has failed to control the gang violence wreaking havoc on the capital, Port-au-Prince. With gangs now controlling as much as 80 percent of the city, Henry traveled to Guyana in February to sign a treaty allowing a contingent of 1,000 Kenyan police officers to patrol Port-au-Prince. But after the gangs shut down the airport and released thousands from prison, Henry was forced to announce his resignation from exile — and delay the police force deployment that could help bring order to the capital.
It would be hard to overstate how nightmarish conditions have become in Haiti.
One British news source is comparing the current state of affairs to “the post-apocalyptic world of Mad Max”…
Haiti has been compared to the post-apocalyptic world of Mad Max as gang chaos continues.
Gang leaders are still fighting despite absentee Prime Minister Ariel Henry agreeing to resign last week.
With Haitians awaiting the formation of a Transitional Governing Council that is set to take power before elections are held, gangs looted aid supplies over the weekend.
UNICEF said containers with “essential items for maternal, neonatal, and child survival, including resuscitators and related equipment” were snared by gangs in the capital Port-au-Prince on Saturday.
Apparently the Biden administration decided that it would be a good idea to open the floodgates for those that wish to leave Haiti and come here.
According to the Washington Examiner, so far the Department of Homeland Security has helped to relocate more than 130,000 migrants from Haiti in dozens of U.S. cities…
The Department of Homeland Security has guided over 130,000 illegal immigrants from gang-ravaged Haiti into dozens of unidentified American cities, but it won’t say where.
Many of the 133,000 arrived in just one city that the Biden administration won’t identify, according to a federal report reviewed by the Center for Immigration Studies.
The Washington-based CIS, which backs ending illegal immigration, said that many immigrants flew themselves to the unidentified cities, while others arrived through land ports only to be released to wherever they wanted to go.
Of course a lot more are heading our way.
According to Florida Governor Ron DeSantis, a boat carrying a group of Haitian migrants that had guns, drugs and night vision gear was recently intercepted off the coast of his state…
“Our Florida Fish and Wildlife offices interdicted a vessel that had 25 illegal immigrants, potential illegal immigrants from Haiti in their boat. In their vessel, they had firearms, they had drugs, they had night vision gear, and were boating very recklessly, which would potentially endanger other folks,” DeSantis said at a press conference where he signed three pieces of legislation to deter illegal immigration.
“That vessel was interdicted near the Sebastian Inlet and those illegal aliens were turned over to the Coast Guard for deportation,” the governor said.
Needless to say, it isn’t just extremely desperate people from Haiti that are attempting to come to the United States in very large numbers.
Right now, our borders are under siege from “asylum seekers” that are coming to us from all over the globe.
Migrants have been taught that if they just say the right things about “seeking asylum” they will be let into the country.
And this isn’t just happening at the southern border.
Over the past couple of years, the number of migrants crossing over from Canada has been increasing at an exponential rate…
In fiscal year 2023, border officials encountered 189,401 illegal and inadmissible immigrants along the U.S.–Canada border, including at the ports of entry. Of those, 10,021 were caught crossing illegally between ports of entry.
In fiscal 2021, that number was 916.
Far more have been coming over the southern border.
Overall, we are witnessing a tsunami of migration that is far greater than anything that we have ever witnessed before. The following comes from U.S. Senator John Cornyn…
Under President Biden’s leadership, we’ve seen an unprecedented crisis at our southern border, and an administration that proves time and time again that they simply don’t care.
Since President Biden took office, U.S. Customs and Border Protection (CBP) has logged more than 5.4 million illegal border crossings, plus at least 1.5 million “gotaways” – that is, border crossers who were detected by CBP technology, but who were never apprehended.
Once “asylum seekers” are released into this country, they could literally go anywhere.
One migrant from Lebanon that was encountered at the border actually admitted that he was a member of Hezbollah and that he was planning to go to New York City and make a bomb…
A Lebanese migrant who was caught sneaking over the border admitted he’s a member of Hezbollah, he hoped to make a bomb, and his destination was New York, The Post can reveal.
Basel Bassel Ebbadi, 22, was caught by the US Border Patrol on March 9 near El Paso, Texas. While in custody, he was asked what he was doing in the US, to which he replied, “I’m going to try to make a bomb,” according to a Border Patrol document exclusively obtained by The Post.
We were quite fortunate to have caught that guy before he did any damage.
But how many others have successfully entered this country through our wide open borders?
Our politicians go on and on about “threats to national security”, but it is all empty talk unless they are willing to secure our borders.
Because without secure borders, our nation will never be secure.
Unfortunately, more desperate people continue to pour over our borders with each passing day, and it won’t be too long before we reach a tipping point.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post What Is Happening In Haiti Will Come Here Too appeared first on The Economic Collapse.
]]>The post Many Of The Most Beautiful Places In America Have Been Transformed Into Open Toilets appeared first on The Economic Collapse.
]]>Residents of a small coastal city in California said they’ve been ‘trapped in a portable toilet’ after 700 consecutive days of beach closures.
For the past four years, residents of Imperial City, a small town located a 20-minute drive from San Diego, have endured daily exposure to sea spray and aerosol particles emanating from the polluted ocean.
More than 100 billion gallons of untreated wastewater have flowed through Mexico’s Tijuana River and into the Pacific Ocean, eventually reaching the coastal town over the past five years.
Why isn’t California Governor Gavin Newsom doing something about this?
Why isn’t the Biden administration doing something about this?
One local resident says that the smell of human waste is so strong at night that it actually wakes people up…
According to a study by San Diego State University, heavy metals, toxic chemicals, and bacteria detected in the water are being released into the air and lingering in the soils.
‘I’m more frustrated than ever since we found out that it goes into the air. So it’s not just the water,’ a resident said.
In letters from community members calling for action, one resident said the smell is ‘akin to being trapped in a portable toilet,’ so strong that it wakes them up at night.
Can you imagine the cumulative impact that all of this wastewater is going to have if it is allowed to continue to flow like this year after year?
But maybe this is what southern California deserves.
The television shows and movies that are created in southern California are exporting our “toilet culture” to the entire world, and now southern California is literally being transformed into a toilet.
Meanwhile, conditions are rapidly deteriorating on the east coast as well.
When I visited New York City a little over two decades ago, everything was very clean and I felt very safe wherever I walked.
But now Alexandria Ocasio-Cortez’s district “is being described as looking like a Third World country”…
Alexandria Ocasio-Cortez’s district is being described as looking like a Third World country, after video emerged showing trash covered streets overrun by migrants.
Footage captured by Queens resident Ramses Frias shows two streets in the neighborhoods of Corona, Jackson Heights and Elmhurst.
The video shows the streets of the area overflowing with trash, as migrants set up make shift flea markets flogging clothing items.
Roosevelt Avenue has also become known as ‘the market of sweethearts’, with viral videos showing alleged sex workers lining the streets of the area.
Of course it isn’t just her district that is rapidly going down the tubes.
In a 15 million dollar lawsuit that was recently filed, it is alleged that one Burger King location in the Big Apple has been transformed into an “open air drug bazaar”…
A Burger King in New York City has been slapped with a $15 million lawsuit over allegations the fast food restaurant has turned into an ‘open air drug bazaar.’
The restaurant, located at 106 Fulton Street in the Financial District, was sued by long-time resident and filmmaker Kevin Kaufman, 69, who has branded the street ‘a neighborhood in crisis.’
According to the lawsuit, obtained by the New York Post, Kaufman has targeted that location and Burger King’s cooperate office, accusing them of violating the state’s private nuisance law.
Lawlessness is common at the site with pictures of drug users and videos of fights posted online.
Once again we see the word “lawlessness” used to describe what is happening in our largest cities.
How many times in recent months have I warned about how “lawless” this country is becoming?
In fact, in a piece that I authored that was one of the featured articles on Zero Hedge on Sunday, I stated that “America is becoming a little bit more lawless with each passing day”.
In Oakland, crime has gotten so bad that some business owners are openly threatening not to pay taxes…
A growing group of business owners in the Bay Area are declaring that they no longer want to pay taxes after a slew of robberies and thefts made them feel like the city wasn’t doing enough to protect them.
Businesses in Oakland, California, have faced thefts and attacks in recent months.
“We’re scared for our lives,” Cybelle’s Pizza manager Nestor Sanchez said, according to a KTVU report.
During the past several years, thousands upon thousands of businesses have either left our major cities or have shut down for good.
In some cases, entire city blocks have been boarded up.
And now we have learned that hundreds of Family Dollar stores are going to be closed, and that is going to create even more empty buildings…
Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, said Wednesday it will close nearly 1,000 stores.
Years of mismanagement and poor conditions in stores have hurt Family Dollar’s brand. Family Dollar, which is owned by Dollar Tree, was recently fined more than $40 million for a rat infestation at a warehouse that forced hundreds of stores to temporarily close.
Decades-high inflation has hit shoppers hard, and a general consumer pullback has impacted Family Dollar customers and the chain’s profits, exacerbating its battle with discount competitors such as Dollar General, Walmart and others.
In addition, the reduction in benefits for the Supplemental Nutrition Assistance Program, or SNAP, has left struggling families with as much as $250 less per month. Discount stores and consumer goods companies say they have felt the impact of that loss.
Meanwhile, every month hundreds of thousands of extremely desperate people come pouring across our southern border.
According to Axios, “more than 8 million asylum seekers and other migrants will be living inside the U.S in legal limbo by the end of September”.
The stage has been set for civil unrest on an absolutely epic scale, and we are just months away from the most tumultuous election season in our entire history.
I entitled my latest book “Chaos” for a reason, because that is exactly what we are going to experience.
The people that are running this country are systematically ruining it.
Everything that our forefathers worked so hard to build is going down the drain, and that should deeply sadden all of us.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post Many Of The Most Beautiful Places In America Have Been Transformed Into Open Toilets appeared first on The Economic Collapse.
]]>The post Is The Black Horse Of Famine Getting Ready To Ride Too? appeared first on The Economic Collapse.
]]>The scenario that I just described is exactly what we see in the Book of Revelation.
In Revelation chapter 6, the black horse of famine immediately follows the red horse of war…
4 And there went out another horse that was red: and power was given to him that sat thereon to take peace from the earth, and that they should kill one another: and there was given unto him a great sword.
5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.
Right now, we are literally teetering on the brink of such a disaster.
According to the UN’s World Food Program, we are dealing with “a hunger crisis of unprecedented proportions” right now…
Conflict, economic shocks, climate change and soaring prices for food and fertilizer are all combining in a perfect storm to create a hunger crisis of unprecedented proportions. Right now, in some of the hungriest places around the world, there just isn’t enough food to feed the population.
They are not talking about a “perfect storm” that is coming someday.
They are talking about a “perfect storm” that is already here.
Last year, more than 3 billion people could not afford to eat a healthy diet…
Worldwide, more than 3.1 billion people could not afford a healthy diet, according to the report. That’s 42% of the world’s population, and a significant increase over pre-COVID levels.
Why aren’t we hearing more about this?
Just because our families aren’t facing severe hunger yet does not mean that we shouldn’t be paying attention.
According to an article that was posted by the New York Times, the number of countries that are “at risk of famine” just continues to grow…
The list of countries at risk of famine now includes Afghanistan, Syria and Mali. Humanitarian observers also worry that North Korea may be nearing a famine.
That same New York Times article pointed out that things are particularly dire in eastern Africa…
About 90 million people are facing severe hunger in Ethiopia, Somalia, South Sudan, Sudan and Yemen. These countries, unfortunately, have their own histories of severe food shortages, but the world has never witnessed all of these countries descending toward mass starvation at the same time.
I am not the one that used the term “mass starvation” to describe what is happening in eastern Africa.
This is the New York Times that we are talking about.
Even they are admitting that this crisis has started to spiral out of control.
Here in the United States, there is still enough food to go around, but supplies of food have been getting tighter.
According to the Farm Bureau, the U.S. actually lost more than 140,000 farms during one recent five year period…
Between 2017 and 2022, the number of farms in the U.S. declined by 141,733 or 7%, according to USDA’s 2022 Census of Agriculture, released on Feb. 13. Acres operated by farm operations during the same timeframe declined by 20.1 million (2.2%), a loss equivalent to an area about the size of Maine.
And the size of the U.S. cattle herd is now the smallest that it has been in 73 years…
Not many ranchers active today will remember the last time the U.S. cattle industry was this small. On January 1, 2024, the All Cattle and Calves inventory was 87.15 million head, the smallest total inventory since 1951. The All Cattle and Calves inventory is 1.9 percent smaller year over year and is the fifth consecutive year of declining cattle inventories, a total decrease of 7.65 million head or 8.1 percent since the most recent peak in 2019. The 2023 calf crop was 33.6 million head, down 2.5 percent year over year and the smallest calf crop since 2014.
Meanwhile, the bird flu continues to spread all over the country, and this has pushed up egg prices dramatically in recent months…
Data from the United States Department of Agriculture shows that Grade A egg prices per dozen jumped 40% from $2.13 to $3 between November and February.
Of course just about everything has been getting a lot more expensive since Joe Biden entered the White House.
Here are some more examples…
Boneless chicken breast has increased in price 26%, from $3.26 per pound in January 2021 to $4.11 per pound in February 2024.
White bread per pound is 30% more expensive, up to $2.01 per pound in February vs. $1.55 per pound in January 2021.
And white sugar has increased cost per pound from $0.68 to $0.98 in the last three years, a 44% increase.
I always warned my readers that the way that the global food crisis would initially manifest itself in the United States would be through much higher food prices.
And now I believe we are reaching a tipping point for certain commodities.
Just look at what is happening to cocoa prices. They just continue to shoot up at an exponential rate…
May ICE NY cocoa (CCK24) today is up +381 (+5.42%), and May ICE London cocoa #7 (CAK24) is up +377 (+6.55%).
The May NY and London cocoa futures contracts today both rallied sharply to new contract highs on continued concern about tight cocoa supplies from West Africa.
Lower cocoa production in the Ivory Coast, the world’s largest producer, is a major bullish factor for cocoa prices. Monday’s government data showed Ivory Coast farmers shipped 1.22 MMT of cocoa to ports from October 1 to March 10, down -29% from the same time last year. The Ivory Coast cocoa regulator said last Thursday it expects the Ivory Coast mid-crop, which officially starts in April and is the smaller of two annual harvests, to fall -33% to 400,000 MT from 600,000 MT last year. Trader Ecom Agroindustrial projects Ivory Coast 2023/24 cocoa production, which ends in September, will fall -21.5% y/y to an 8-year low of 1.75 MMT.
I know that I have said it before, but I will say it again.
If you love chocolate, stock up now while you still can.
The same thing could be said for many other food items as well.
During a recent interview with Fox News, prepping expert James Nelson explained that most Americans are woefully unprepared for any sort of a major supply chain disruption…
Nelson calculated that if a freezer goes out, people will only have that food for three days. If the power goes out, Americans are now reduced to five days of food in their homes. A local suburban or urban area will also have about two weeks of food and has generators if the power goes out, but when people are dependent on storefronts, they will quickly be emptied out.
“In the event of even a temporary supply chain collapse, most homes are within two weeks of being entirely dependent on handouts from a government entity or non-government organization,” Nelson said.
“Anybody who doesn’t have 3 to 6 months of basic staples and food within your home, and the ability to grow a garden. Then what’s your plan? I mean, these are not weird concepts to talk about,” he added.
He is right.
Our world is rapidly approaching a time of unparalleled chaos, and most of the population is completely and utterly unprepared for it.
If you plan to get prepared, now is the time.
Because it appears that the black horse of famine is getting ready to ride, and it won’t be too long before it finally gets released.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post Is The Black Horse Of Famine Getting Ready To Ride Too? appeared first on The Economic Collapse.
]]>The post Generation Z Is Completely Freaking Out Over The Possibility That TikTok Could Be Banned appeared first on The Economic Collapse.
]]>It was apparent that this bill had a tremendous amount of support, but I was surprised that so many lawmakers from both parties ended up voting for it…
The House on Wednesday passed legislation that could ban TikTok in the U.S. if its Beijing-based parent company ByteDance doesn’t sell its stake in the massively popular social media platform.
The vote was 352 in favor and 65 opposed, underscoring its broad bipartisan support, with 197 Republicans and 155 Democrats voting to approve it. Fifteen Republicans and 50 Democrats voted against the bill. One Democrat voted “present.”
If you have not read the bill yet, you can find it right here. Prior to the vote, TikTok users absolutely flooded Congress with phone calls, but that didn’t work.
So now countless TikTok influencers are completely freaking out because the future of their favorite platform is very much in doubt…
Describing herself as a ‘panicked influencer’ in a video with almost 250K likes, one creator said: ‘We might have to part our ways and say farewell tomorrow because what the actual freak?’
Others noted the rare efficiency that Congress showed in passing the legislation, with one TikTok user saying it stands out compared to the ‘months and months to even get aid to people when there’s a hurricane.’
‘Somehow the gremlins in Congress just really got together and finally agreed on something.’
Another prominent influencer boldly proclaimed that “THIS is going to be the reason why I hate the federal government”…
‘When I’m old an miserable and telling my grandkids about all the reasons why I hate the world, THIS is going to be the reason why I hate the federal government,’ another influencer fumed.
According to CNN, if this bill actually becomes law TikTok will disappear from app stores in the U.S. if ByteDance chooses not to divest…
If enacted, the bill would give TikTok roughly five months to separate from ByteDance, or else app stores in the United States would be prohibited from hosting the app on their platforms.
App stores that violate the legislation could be fined based on the number of users of a banned app. The bill establishes fines of $5,000 per user of a banned app. So, in the case of TikTok, Apple and Google could potentially be on the hook for up to $850 billion in fines each.
It’s unclear if ByteDance would agree to sell or spin-off TikTok. If it did, the company could struggle to find an American buyer willing to shell out, despite the app’s popularity.
TikTok is worth an estimated $100 billion, according to Wedbush analyst Dan Ives. And many major US tech companies already face fierce regulatory scrutiny that could prevent them from making such a major acquisition.
But of course even if TikTok was banned from app stores that would definitely not kill the platform.
The 170 million users that have already downloaded the app would still be able to use it, and new users would likely be able to download it using a VPN…
If TikTok were banned in the U.S., the hundred million plus users who have already downloaded the app would still likely be able to access it. New users would also potentially be able to download it using a virtual private network, or VPN.
Even with the app’s removal from app stores and experts expect that TikTok’s resourceful U.S. fans would still find ways to continue using it.
And at this point it is very unclear whether this bill will be able to get through the U.S. Senate…
The TikTok’s bill in the Senate is uncertain, as the Senate is unlikely to pass the bill as is.
Sen. John Cornyn (R-TX) said, “I think it’s more than likely that we will take up their bill and amend it and say we’ve come up with some areas where we think it needs improvement. My concern is that if you try to deal with this by name, you’re playing a game of Whack a Mole, because what’s TikTok today, next week it’s TokTik or TicTak or whatever.”
“We do things slowly over here, and this takes time,” he added.
Indeed, the Senate’s 60-vote threshold requires consensus to pass legislation.
Joe Biden has said that he will sign the bill if it eventually gets through the Senate.
But would he really want to alienate millions of young voters just before the presidential election in November?
Donald Trump seems to realize what will be better for his political future, and so he has come out against banning TikTok…
Former President Donald Trump came out against the app’s ban.
“If you get rid of TikTok, Facebook and Zuckerschmuck will double their business,” Trump said in a post on Truth Social.
“I don’t want Facebook, who cheated in the last Election, doing better. They are a true Enemy of the People!” the 45th president said.
I think that Trump makes a legitimate point.
Without a doubt, TikTok is doing a tremendous amount of damage.
For a long time, TikTok has been promoting very harmful content.
And for a long time, TikTok has been suppressing content that many of us would consider to be good.
TikTok clearly has an agenda, and they are using their power to shape how our young people think.
But of course the exact same things could be said about other social media platforms.
It could be argued that Facebook has had a far greater impact on our culture than TikTok has, but nobody is talking about banning Facebook.
Collectively, the major social media companies are transforming our culture in ways that we have never seen before.
Let me give you an example of what I am talking about.
According to a brand new Gallup survey that was just released, 22.3 percent of all Gen Zers now identify as LGBTQ+…
More than one in five Gen Z adults identified as LGBTQ+ in 2023, having more than doubled over less than a decade.
Of the 22.3 percent of Gen Zers identifying as lesbian, gay, bisexual, transgender, or queer, more than 15 percent identified as bisexual, according to polling results from Gallup.
Pollsters reported that, overall, each younger generation is about twice as likely as the last to identify as LGBTQ+. Compared to the rate of Gen Z adults, far fewer millennials – one in 10 – say they belong to the LGBTQ+ community.
In the entire history of our country, we have never seen a shift of this magnitude.
At this point, nearly 30 percent of Gen Z women now identify as LGBTQ+…
“Almost 30% of Gen Z women identify as LGBTQ+, most as bisexual,” Jeffrey Jones, a senior editor at Gallup, told NBC News. “That’s where a lot of the growth seems to be happening.”
This is the first year Gallup has laid out its annual LGBTQ identification report in a way that breaks down each generation by gender. Looking at all generations, 8.5% of women and 4.7% of men identified as LGBTQ, the survey found.
If you ban TikTok, that is barely going to do anything to stop the cultural tsunami that we are witnessing.
For many of our politicians, the reason why TikTok is such a big deal is because it is controlled by China.
This just shows how much things have changed.
For many years, I have been warning my readers that China is our enemy. A decade ago, most people thought that was absurd. Over and over again I would be told that “China is our friend” and that a war with the Chinese would never happen.
But now most of our politicians clearly believe that China is our enemy. If they considered China to be a friend, there is no way that they would be trying to ban TikTok.
Relations between the United States and China are rapidly deteriorating, and it won’t be too long before they reach a breaking point.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post Generation Z Is Completely Freaking Out Over The Possibility That TikTok Could Be Banned appeared first on The Economic Collapse.
]]>The post Is The Soaring Cost Of Living Stressing You Out? U.S. Households Are Spending An Extra $11,434 Per Year Just To Maintain The Same Standard Of Living appeared first on The Economic Collapse.
]]>According to CBS News, on average U.S. households must now spend an extra $11,434 per year just to maintain the same standard of living that they were enjoying when Joe Biden first entered the White House…
The typical American household must spend an additional $11,434 annually just to maintain the same standard of living they enjoyed in January of 2021, right before inflation soared to 40-year highs, according to a recent analysis of government data.
This is insane.
But the government continues to insist that inflation is low. On Tuesday, the Bureau of Lying Statistics told us that prices have only risen 3.2 percent over the past 12 months…
Data released by the Bureau of Labor Statistics on Tuesday showed prices rose 3.2 percent over last year, slightly outpacing forecasts of 3.1 percent. Prices also rose 0.4 percent in February over the previous month — in line with expectations, but still hotter than economists would like to see.
If you believe that, there is a bridge in California that I would like to sell you.
Virtually everything that Americans spend money on regularly has skyrocketed during the Biden administration.
Just look at the price of gasoline. It is now 60 percent higher than it was during the last presidential election in November 2020…
The average gasoline price at the pump in the US is now 60% higher than at the start of November 2020 — a potentially significant factor for American voters when comparing how well-off they feel now versus when President Joe Biden was first elected. And while pump prices are rising relatively slowly for this time of year, US fuel stockpiles well below seasonal norms will keep refining margins elevated, according to the the US Energy Information Administration.
As a result, the agency on Tuesday raised its second-quarter retail gasoline price forecast by 20 cents a gallon.
Of course housing costs have been going up even faster.
Recently, I was stunned to learn that a 54 square foot “apartment” in New York City that doesn’t even have a bathroom is renting for $1,200 a month…
A tiny studio apartment in New York City that consists of just one room and has no bathroom, kitchen or running water has been furiously slated online – after it was revealed the asking price for the cell-like property is a staggering $1,200 a month.
A now-viral video of the ‘tiny’ rental, which is just 54 square feet and is located in Midtown West, has sparked outrage after it was shared on TikTok by listing agent Alexander Bruni.
The nine-by-six apartment has just enough space for a bed and doesn’t have any running water, meaning that if residents needed to use the restroom they would have to exit their studio and go down the hallway to the communal bathroom.
Is this what they mean when they tell us that we will own nothing and be happy?
Of course most Americans are not happy about the current state of affairs at all.
They are quite aware that the cost of living has been rising much faster than their paychecks have, and that is definitely not good news for Joe Biden.
As Kevin O’Leary has very astutely observed, inflation “is always the enemy of the incumbent”…
He said: ‘Inflation is always the enemy of the incumbent. It doesn’t matter who you are in the White House when there’s inflation. People go to the voting booth remembering what it cost them for their cornflakes and milk in the morning, and what it cost to fill up the car to drive there.
‘And they vote against that.’
But if you think that inflation is bad now, just wait until the coming war with China erupts.
Once trade across the Pacific comes to a standstill, there will be a whole lot of money chasing a rapidly dwindling level of goods in our stores.
The employment market will be another major issue in November.
The massive tsunami of layoffs that we have been witnessing just continues to roll along. For example, on Monday we learned that John Deere will be laying off 150 workers at a facility in Iowa…
Around 150 John Deere workers in Ankeny will be losing their jobs over the next couple of months.
John Deere Des Moines Works confirmed to Iowa’s News Now that employees were told about the layoffs by factory leadership in meetings at the factory on Friday.
The company said about 150 production employees will be placed on “indefinite layoff effective over the months of April and May.”
Sticking with Iowa, Tyson just announced that it will be giving the axe to over a thousand workers at one of their plants in the state…
More than 1,000 workers at another Tyson Food plant are out of work after the company announced it is permanently closing one of its Iowa facilities.
The move comes after the Arkansas-based company closed two chicken plants and announced job cuts last year and said four other plants were expected to cease operations within the first half of fiscal 2024, with related charges − at the time, expected to cost the company $300 million to $400 million.
On Monday Tyson announced it would shutter the doors to its Perry, Iowa pork-packing plant.
But at least they are doing better than Rite Aid is.
We just learned that another 77 Rite Aid stores will be permanently shutting down…
Another 77 Rite Aid stores will close as part of the retailer’s voluntary bankruptcy.
The closures, announced in seven court filings so far this year, will affect stores across 21 states, including California, Pennsylvania, New York and Texas.
The total number of closures announced since filing for bankruptcy in October is now 431.
Overall, nearly 107 million Americans do not have a job right now.
That number will inevitably go even higher during the months ahead.
Needless to say, the cost of living is going to continue to steadily increase as well.
Prices are already absurdly high, but they are only going to escalate from here, and that is really bad news for all of us.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post Is The Soaring Cost Of Living Stressing You Out? U.S. Households Are Spending An Extra $11,434 Per Year Just To Maintain The Same Standard Of Living appeared first on The Economic Collapse.
]]>The post Nearly 107 Million Americans Do Not Have A Job Right Now appeared first on The Economic Collapse.
]]>On Friday, the BLS released the employment numbers for the month of February. Zero Hedge is calling it “the most ridiculous jobs report in history”…
Last month we though that the January jobs report was the “most ridiculous in recent history” but, boy, were we wrong because this morning the Biden department of goalseeked propaganda (aka BLS) published the February jobs report, and holy crap was that something else. Even Goebbels would blush.
We were told that the U.S. economy added 275,000 jobs last month.
But if you dig deeper into the report, you will find that the number of native-born workers actually fell by 560,000 last month.
And over the past 3 months, the number of native-born workers has fallen by a whopping 2.4 million…
But wait there’s even more, because now that the primary season is over and we enter the heart of election season and political talking points will be thrown around left and right, especially in the context of the immigration crisis created intentionally by the Biden administration which is hoping to import millions of new Democratic voters (maybe the US can hold the presidential election in Honduras or Guatemala, after all it is their citizens that will be illegally casting the key votes in November), what we find is that in February, the number of native-born workers tumbled again, sliding by a massive 560K to just 129.807 million. Add to this the December data, and we get a near-record 2.4 million plunge in native-born workers in just the past 3 months (only the covid crash was worse)!
So where is the “job growth” coming from?
If you can believe it, the BLS is claiming that 1.2 million foreign-born workers were added during the month of February alone…
The offset? A record 1.2 million foreign-born (read immigrants, both legal and illegal but mostly illegal) workers added in February!
Are we actually supposed to believe such nonsense?
I find it hard to believe that more than a million foreign-born workers were added to the system in a single month when layoffs are at such extremely high levels.
According to Challenger, Gray & Christmas we just witnessed the highest number of layoffs during the month of February since the Great Recession…
Layoff announcements in February hit their highest level for the month since the global financial crisis, according to outplacement firm Challenger, Gray & Christmas.
The total of 84,638 planned cuts showed an increase of 3% from January and 9% from the same month a year ago, with technology and finance companies at the forefront.
From a historical perspective, this was the worst February since 2009, which saw 186,350 announcements as the worst of the financial crisis was seemingly coming to an end.
We really do have an employment crisis in this country, but those in positions of power are trying to convince us that what we can see with our own two eyes isn’t actually real.
In other words, they are gaslighting us really hard.
One of the ways they do this is by how they classify those that are not working.
When an adult is not working, they are classified as either “unemployed” or “not in the labor force”.
In February, 6,458,000 Americans were considered to be officially “unemployed”.
If that number was accurate, that would be good news.
But another 100,285,000 Americans were considered to be “not in the labor force” in February.
When you add those two numbers together, you get a grand total of 106,743,000 Americans that are not working.
In other words, nearly 107 million Americans do not have a job right now.
Let me try to put that number into proper perspective.
During the Great Recession, that number never even reached 90 million.
So right now, the number of Americans not working is far higher than it was at any point during the worst economic downturn since the Great Depression of the 1930s.
Meanwhile, conditions continue to get even rougher for those that are actually working.
The cost of living has been rising much faster than our paychecks have, and that is putting enormous stress on households from coast to coast.
Recently, I was stunned to learn that a 160 square foot home in Las Vegas is renting for 950 dollars a month…
A tiny home in the Las Vegas Valley is creating a big stir.
Nestled between two apartment blocks, the 160 sq ft tiny home, listed for $950 a month, has received more than 113 inquiries from eager renters.
That is absurd.
But this is what years of reckless money printing have done to us.
Housing has become more unaffordable than ever before, and this isn’t just happening in our heavily populated metropolitan areas.
If you can believe it, an average home in Bozeman, Montana now sells for more than a million dollars…
Bozeman, Montana, a small city of about 56,000 people, has seen home prices soar on the back of increased migration to the area, catapulting demand for properties.
A single-family home in the area rose by nearly 40 percent to more than $1.16 million as of February, according to the Bozeman Real Estate Group.
At the same time, paychecks are stagnating or even falling in some cases.
In fact, it is being reported that “48% of 2,000 US companies surveyed lowered pay for certain roles” in 2023…
But some are finding an unwelcome surprise as they scan listings for open roles. A salary bump is all but impossible; in many cases, wages seem lower than their previous pay – even for the same jobs.
They aren’t imagining things. A 2023 report on pay trends from ZipRecruiter showed 48% of 2,000 US companies surveyed lowered pay for certain roles.
The middle class is being systematically ripped to shreds.
With each passing day, more Americans are joining the ranks of the poor, and homelessness and hunger are absolutely exploding all over the nation.
What we are experiencing is the direct result of years of very foolish policies.
Unfortunately, much worse is on the horizon. The remainder of 2024 will be excruciating, and 2025 will be even more painful.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post Nearly 107 Million Americans Do Not Have A Job Right Now appeared first on The Economic Collapse.
]]>The post You Have Got To Be Kidding Me appeared first on The Economic Collapse.
]]>Let me give you some examples of what I am talking about.
It is being reported that more than half of all Americans over the age of 65 “are living on incomes of $30,000 or less a year”…
And, for some, the retirement crisis is already here. Just over half of Americans over the age of 65 are living on incomes of $30,000 or less a year, according to the Census Bureau’s Current Population Survey. The largest share — just under 23% — have incomes between $10,000 and $19,999.
Millions of elderly Americans are barely surviving at this point.
Meanwhile, the Biden administration has been flying hundreds of thousands of migrants that have no legal right to be here directly into the country…
It means that while record numbers of migrants were flowing over the southern border last year, the Biden White House was also directly transporting them into the country.
Use of a cell phone app has allowed for the near undetected arrival by air of 320,000 aliens with no legal rights to enter the United States.
It comes after a controversy over a 2022 transportation program in which the administration used taxpayers money to move migrants throughout the country on overnight flights.
You have got to be kidding me.
Let me give you another example.
Since 2020, the income needed “to comfortably afford a home in the US” has gone up by 80 percent…
According to Zillow, the income needed to comfortably afford a home in the US has leapt 80% since 2020, far exceeding what the BLS reports has been a 23% increase in median household income over the same period.
The real estate website found home buyers today need to make more than $106,000 a year, up $47,000 from 2020, a change driven largely by higher prices and borrowing costs.
“Housing costs have soared over the past four years as drastic hikes in home prices, mortgage rates and rent growth far outpaced wage gains,” said Orphe Divounguy, a senior economist at Zillow.
But instead of doing something about that, politicians in California actually want to provide interest-free home loans with no down payment required to newly arrived migrants…
Assembly Bill 1840 would change existing law to allow illegal immigrants to be eligible for the California Dream for All Fund, which provides interest-free loans for a down payment on a home for first-time buyers.
The bill was introduced by California Assemblyman Joaquin Arambula, a Democrat, who last month told GV Wire, a Fresno-based news outlet, that he “wanted to ensure that qualified first-time homebuyers include undocumented applicants.”
You have got to be kidding me.
Don’t stop reading now, because there is more.
On Thursday, we learned that the number of layoffs in the U.S. last month was the highest total that we have seen during February since 2009…
The pace of job cuts by U.S. employers accelerated in February, a sign the labor market is starting to deteriorate in the face of ongoing inflation and high interest rates.
That is according to a new report published Thursday by Challenger, Gray & Christmas, which found that companies planned 84,638 job cuts in February, a 3% increase from the previous month and a 9% jump from the same time last year.
It marked the highest layoff total for the month of February in data going back to 2009.
That is terrible news.
But instead of finding jobs for American workers, New York Governor Kathy Hochul wants to “prioritize” hiring newly arrived migrants for state jobs…
New York Governor Kathy Hochul is pushing a plan to prioritize hiring illegal aliens for state jobs by eliminating certain requirements like the civil service exam and high school diploma.
The aim is to expedite the process for illegal immigrants to secure state jobs once they have work permits.
You have got to be kidding me.
Last but not least, let’s talk about what is going on in Washington right now.
In preparation for the State of the Union address, a “large steel fence” was being put up around the U.S. Capitol…
Ahead of President Joe Biden’s State of the Union address this evening – what concerns do the political elites on Capitol Hill have that require security crews to erect a large steel fence around the immediate perimeter of the Capitol Complex?
In several posts on X, FOX News Senior Congressional Correspondent Chad Pergram said the steel, grated 12-foot fence around the Capitol Complex was erected on Wednesday night on the orders of the Secret Service.
Apparently our leaders in Washington have no problem with being protected by walls.
Unfortunately, our southern border has been left wide open and it is being estimated that approximately 10 million migrants have come pouring into this nation since Joe Biden entered the White House…
The number of illegal immigrants in the country has roughly doubled under President Biden. The United States had some 10.2 million illegal immigrants in 2020, and another 10 million have entered during Biden’s presidency. If the 20 million illegal immigrants were all in one state, it would be tied with New York for the fourth most populated state.
And here’s even worse news. If Biden wins a second term in office and there is no serious reform of U.S. immigration and asylum laws — both of which are very real possibilities — we can expect a continuing increase in the rate of immigrants crossing the border illegally.
You have got to be kidding me.
We already have tens of millions of people that are deeply suffering in this country.
To allow millions more to come marching in doesn’t make any sense at all.
We can’t even afford to take care of the people that we already have. We are completely broke, and we have been adding another trillion dollars to the national debt about every 100 days.
We are literally committing national suicide, but most of our politicians don’t seem alarmed by this at all.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post You Have Got To Be Kidding Me appeared first on The Economic Collapse.
]]>The post Has The Banking Crisis Of 2024 Already Started? appeared first on The Economic Collapse.
]]>Once the darling of the small banking crisis comeback, New York Community Bancorp has crashed 45% to fresh 30 year lows after The Wall Street Journal reports the bank is seeking to raise equity capital in a bid to shore up confidence in the troubled regional lender.
According to people familiar with the matter, NYCB has dispatched bankers to gauge investors’ interest in buying stock in the company.
There’s no guarantee there will be a deal, or that one would succeed in addressing the bank’s challenges, which as of Wednesday morning had led to a roughly 80% decline in its stock price since January.
As January began, shares of New York Community Bank were selling for more than 10 dollars.
At one point on Wednesday, they were trading for less than 2 dollars.
So why is New York Community Bank in so much trouble?
Well, we are being told it is because “the quality of its commercial real estate loans soured”…
The bank has faced a crisis in recent months after the quality of its commercial real estate loans soured and ratings agencies downgraded its credit status to junk.
Companies are giving up on offices and downtown retail spaces – after Covid normalized working from home and catalyzed the decline of downtown shopping.
That left the owners of commercial buildings unable to pay lenders like NYCB. Some 16 percent of its loans are for commercial real estate acquisition, development and construction.
In other words, New York Community Bank is sitting on a mountain of bad commercial real estate loans.
For a long time, I have been telling my readers that we are going to experience the greatest commercial real estate crisis in U.S. history.
Now, we have reached a stage where nobody can deny what is happening. In fact, billionaire real estate investor Barry Sternlicht says that there will be a trillion dollars in losses on U.S. office properties…
There are growing signs that commercial real estate is in serious trouble.
Barry Sternlicht, a billionaire real estate investor and Starwood Capital’s CEO, recently predicted $1 trillion of losses on office properties alone.
More than $900 billion, or 20%-plus of the total debt owed on US commercial and multi-family real estate, will mature this year, Bloomberg reported this week. Borrowers may have no choice but to refinance at much higher interest rates, or sell their properties at a big discount.
We have never seen anything like this before.
And it is going to have enormous implications for the financial markets.
According to Bloomberg, in recent weeks bond investors “have punished banks with heavy exposure to commercial real estate”…
Bond investors have punished banks with heavy exposure to commercial real estate, potentially adding even more pressure to the lenders’ profits as Wall Street scrambles to assess how widely pain in property debt will spread through the financial system.
Sadly, what we have witnessed so far is just the beginning.
Hundreds of banks all over the nation are drowning in bad commercial real estate loans, and the carnage is going to be immense.
But for the moment, there is some good news.
Somehow, New York Community Bank has been able to locate rubes that are willing to inject a billion dollars into the troubled financial institution…
Shares in New York Community Bank soared this afternoon after the struggling lender announced a $1 billion capital raise and new leadership.
NYCB agreed to a deal with several investment firms in exchange for equity in the regional bank, it announced on Wednesday afternoon.
Those firms include Hudson Bay Capital, Reverence Capital Partners and Liberty Strategic Capital, headed by former US Treasury secretary Steven Mnuchin.
Will this be enough to save New York Community Bank?
From a short-term perspective, I think that it will help.
But in the long run I do not think that New York Community Bank will survive.
Of course the same thing could be said about hundreds of other U.S. banks.
In fact, as I discussed yesterday, Kevin O’Leary of “Shark Tank” fame is convinced that thousands of U.S. banks will fail during the years ahead.
Meanwhile, trouble signs continue to erupt for the economy as a whole.
According to a survey that was recently conducted by ResumeBuilder, 38 percent of U.S. business leaders expect their companies to conduct layoffs in 2024…
2024 is already looking grim. And it’s only February.
Thirty-eight percent of business leaders surveyed by ResumeBuilder think layoffs are likely at their companies this year, and around half say their companies will implement a hiring freeze. ResumeBuilder talked to around 900 leaders at organizations with more than 10 employees. Half of those surveyed cited concerns about a recession as a reason.
Another major factor: artificial intelligence. Around four in 10 respondents said they’ll conduct layoffs as they replace workers with AI, with Dropbox, Google, and IBM have already announced job cuts for that very reason.
By pumping trillions upon trillions of dollars into the system, those running things were able to keep the economy propped up for a while.
But in the process they created a tremendous amount of inflation, and now the inevitable implosion is coming anyway.
The U.S. economy is in far more trouble than most people realize.
We are going to be entering a period of great economic turmoil just as the most chaotic election season in U.S. history rattles the very foundations of our society.
So I hope that you have been enjoying the “lull” that we have been experiencing during the early portion of this year, because things will certainly get very “interesting” in the months ahead.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post Has The Banking Crisis Of 2024 Already Started? appeared first on The Economic Collapse.
]]>The post 3 Things That Troubled U.S. Banks Are Doing As They Scramble To Survive appeared first on The Economic Collapse.
]]>#1 Troubled U.S. Banks Are Dramatically Tightening Lending Standards
I warned my readers that a credit crunch would be coming, and that is precisely what we are witnessing.
According to one recent survey, Americans are being turned down for loans at staggering rates…
A new survey published by Bankrate found that 50% of loans or financial product applicants have been denied since the Fed started raising rates in March 2022.
Credit card applications have been rejected the most frequently, with 14% of Americans reporting that banks denied them a new credit card while another 6% were refused a balance transfer card. Others were denied a credit limit increase on their existing credit card (11%), a personal loan (10%), car loan or car lease (9%), insurance (8%) and a mortgage loan (5%).
Banks are tightening their lending standards in response to higher interest rates.
We haven’t seen anything like this since the Great Recession.
Unsurprisingly, those that have low credit scores are being denied loans most frequently…
The share of Americans who have been denied a loan or financial product is “substantially” higher for those with lower credit scores. For instance, about 73% of individuals with a “poor” credit score, ranging from 300 to 579, have been denied a loan or financial product, compared to 63% with “fair” credit, ranging from 580 to 669, and 55% with “good” credit, ranging from 670 to 739.
#2 Troubled U.S. Banks Are Closing Branches
This is a trend I have been tracking for a long time.
When banks get into trouble, they cut costs, and closing branches is one way to do that.
During the most recent week that we have data for, U.S. banks filed to close another 23 branches…
Banks filed to close 23 branches in a single week last month – with JPMorgan Chase alone announcing plans to shut 18 in California alone.
All but one of those branches were locations of First Republic Bank, the failed commercial bank and wealth manager it acquired last year.
#3 Troubled U.S. Banks Are Slashing Jobs
Conducting mass layoffs is another way that banks are cutting costs.
Last year, the biggest banks in the world collectively laid off more than 60,000 workers. That was the largest number that we have seen since the global financial crisis…
According to the FT’s calculations, 20 of the world’s largest lenders cut at least 61,905 jobs this year. It was one of the worst years for job cuts at banks since the 2007-2008 financial crisis, when banks eliminated 140,000 positions.
Aside from UBS, the second largest number of job cuts happened at Wells Fargo, which reduced its headcount by 12,000.
So far in 2024, the pace of banking layoffs far exceeds what we witnessed in 2023.
In fact, Citigroup alone has announced that it will be laying off 20,000 workers…
Citigroup will lay off 20,000 employees over the next two years, CFO Mark Mason said Friday. The reduction comes after the company reported a $1.8 billion net loss for the fourth quarter of 2023, its worst quarter in 15 years.
The bank expects the reduction in headcount to save $2.5 billion over the long-term.
A lot more banking layoffs are coming, and that is extremely unfortunate.
Shockingly, it is at this moment that the Federal Reserve has decided to terminate the program that has literally been keeping hundreds of U.S. banks from completely imploding…
The Federal Reserve on Wednesday said a funding lifeline created for banks last year after the collapse of Silicon Valley Bank threatened to spark a wider financial crisis would close as scheduled in March.
The Fed also raised the interest rate on new loans from the Bank Term Funding Program (BTFP) for the remainder of its life, effectively ending what had become a popular and profitable arbitrage opportunity for U.S. lenders, which analysts said should deter fresh borrowing.
The sun-setting of the program on March 11 had been signaled by Fed officials as fear in the banking system abated.
Circle March 11th on your calendar, because that is going to be a very important turning point.
I have no idea what the “experts” at the Fed are thinking.
Do they not understand what is going to happen?
Without artificial life support, a lot of these banks are going to go belly up.
In a recent opinion piece, Kevin O’Leary expressed his opinion that literally thousands of U.S. banks will fail during the next three to five years…
Regional banks are doomed.
That’s not necessarily a bad thing… if you’re prepared for it.
It’s been almost a year since Silicon Valley Bank (SVB) collapsed in March – the victim of idiotic management. But the sobering reality is the small banking crisis is far from over.
In the next three to five years, thousands more regional institutions will fail. That’s why I don’t have a dime saved or invested in a single one.
Will he be right?
I don’t know.
But what I do know is that lots of small and mid-size banks will fail unless the Federal Reserve props them up.
And once even a few banks start failing, that will cause a wave of panic to ripple throughout the entire system.
The people that are running things must surely understand this.
So what is their plan?
In recent years, whenever things have gotten bad they have always gotten out their firehoses and have started spraying money all over the place.
Will they do the same thing again once many small and mid-size banks begin to implode?
Interestingly, right now the price of gold is spiking dramatically.
Are some investors starting to hoard gold in anticipation of a new financial crisis?
I wish that I had all the answers.
But what seems clear is that big trouble is on the horizon, and those that are wise will position themselves accordingly.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post 3 Things That Troubled U.S. Banks Are Doing As They Scramble To Survive appeared first on The Economic Collapse.
]]>The post Should Tennessee Be Ranked #1 For Survivability For Preppers That Want To Survive The Cataclysmic Times That Are Coming? appeared first on The Economic Collapse.
]]>I have written quite a bit about these things over the years, and so my attention was immediately grabbed when I came across an article on StudyFinds.com entitled “The List: Best Places to Live Off-Grid, According to Experts”. The state of Tennessee is ranked number one on their list, and I found that to be quite interesting. Below, I will share some of their reasons for ranking Tennessee first, and following each reason I will give some of my thoughts…
-“abundance of natural resources”
This is very true. Tennessee is tremendously blessed with natural resources, and that is a huge advantage for those that want to live off-grid.
-“with an average rainfall of over 50 inches, homesteaders living off-grid have ample access to legally harvest rainwater”
A lot of states, particularly in the western half of the country, have made it illegal to harvest rain falling from the sky. Thankfully, Tennessee doesn’t have such a law, and plenty of rain falls throughout the year.
-“individuals can apply to live and work on government-owned land for a low cost or even for free”
If you are strapped for cash, this is a great opportunity. Most other states do not have this option.
-“fertile land found in this state provides a growing season of over eight months per year”
This is a really great point. Even most preppers do not have years of food stored up for themselves and their families. During the very difficult times that are ahead, growing your own food will be important, and Tennessee is a great state for doing that.
-“Tennessee stands out as a budget-friendly haven for off-grid enthusiasts”
The coast of living in the state is definitely lower than elsewhere, and that is a huge plus.
Overall, there is so much to like about Tennessee. In my new book, I ranked it number four out of all fifty states.
But of course no location is perfect.
There are definitely some negatives to consider as well. For example, it is being reported that Tennessee is the most stressed state in the entire nation…
At No. 1 for the overall list of the most stressed states in the U.S. is Tennessee, according to Komowa.
The Volunteer State scored very high for the most health stress, coming in third place for the highest level of depression prevalence (24.4%).
15.5% of residents also said “their physical health isn’t good for more than 14 days a month.”
Residents of Tennessee also work more than the average American. The state came in at No. 3 for most hours worked with an average of 42.3 hours a week.
In addition, in my opinion you will want to avoid the western half of the state entirely. It is way too close to the New Madrid fault zone, and Memphis is one of the most dangerous cities in the country.
But I very much like the eastern portion of the state. In particular, virtually anywhere east of Knoxville would be a very nice choice.
Just don’t expect perfection.
You won’t find that anywhere.
Needless to say, you will need to be prepared to expect the unexpected wherever you live.
For example, those living in Utah and Nevada probably never imagined that tumbleweeds would become a significant issue in our day and age, but that is precisely what is happening…
Tumbleweed is sprawling across sidewalks. It is blowing across freeways. It is stacked up — feet high — against homes in Utah and Nevada.
The masses upon masses of prickly tumbleweed are more fallout from severe weather sweeping the Western United States, in which wind gusts over 60 mph destroyed infrastructure, downed trees and power lines, and caused widespread outages and road closures.
Some called it the tumbleweed takeover. Others referred to it as tumblemageddon.
Life is always full of surprises, and that will especially be true during the tumultuous years that are in front of us.
We will never be able to prepare for every possible scenario, but right now millions of Americans are making preparations for what is ahead because they understand that things are about to make a dramatic turn in the wrong direction.
A gold dealer in Beverly Hills says that even the ultra-wealthy are preparing for the worst…
MILLIONAIRES and elites are hoarding gold as part of their doomsday preparations as they look to barter with it, an expert has revealed.
Multiple factors, from cell service outages to the election, have caused an “absolute surge” in gold sales, Jonathan Rose told The U.S. Sun.
Rose, the CEO of Genesis Gold Group in Beverly Hills, California, said he deals with people buying the precious metal for doomsday-prepping purposes every day.
Rose highlighted how doomsday prepping has become popular among millionaires such as Mark Zuckerberg and Sam Altman, along with pro athletes and other elites.
Speaking of Zuckerberg, there has been a tremendous amount of speculation about the massive survivalist compound that he is building in Hawaii.
Those that have been involved in building it have been required to sign very strict nondisclosure agreements…
Everyone who enters the property must sign a strict nondisclosure agreement, according to reports, and workers are sworn to secrecy.
Various media reports make mention of labourers being sacked after sharing selfies from the property on social media – posts that were quickly detected by Zuckerberg’s representatives.
“It’s fight club,” a former contractor told Wired. “We don’t talk about fight club.”
We have reached a stage where even people like Mark Zuckerberg realize that things are about to get really crazy.
The United States is in the process of committing financial suicide, but what we are facing goes far beyond economics.
We are literally facing a “perfect storm” that is being fueled by a whole host of different factors, and global events are on the verge of spiraling completely out of control.
So whether it is Tennessee or somewhere else, I would highly recommend figuring out where you want to be when everything finally hits the fan, because we are quickly running out of time.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
About the Author: Michael Snyder’s extremely controversial new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com. He has also written seven other books that are available on Amazon.com including “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. You can connect with Michael on YouTube, Facebook and Twitter, and sharing his articles on your own social media accounts is definitely 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, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.
The post Should Tennessee Be Ranked #1 For Survivability For Preppers That Want To Survive The Cataclysmic Times That Are Coming? appeared first on The Economic Collapse.
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