The Economic Collapse

According to the absurd numbers that the government feeds us, the unemployment rate is very low and there are lots of jobs available.  But if what they are telling us is true, why are so many Americans not able to find work?  As you will see below, some people haven’t been hired even though they have literally applied for hundreds of jobs.  There seems to be an enormous disconnect between what is actually happening in the real economy and the economic narrative that they are constantly pushing.  By the time you are done reading this article, I think that you will agree with me. (Read More...)

When I was a kid, “Weekend at Bernie’s” was one of my all-time favorite movies.  In that film, two guys worked really hard to convince everyone that their boss was still alive so that they wouldn’t get into trouble.  I remember laughing throughout that entire movie.  Today, the Biden administration is working really hard to convince all of us that the U.S. economy is still alive, and that isn’t funny at all.  A horrific cost of living crisis is absolutely crushing millions of U.S. households, large companies are conducting mass layoffs all over the nation, and the real estate industry is in a gigantic mess.  But Joe Biden and his minions would have us believe that everything is just fine. (Read More...)

How it is possible that initial claims for jobless benefits have been exactly the same for five of the past six weeks?  As Jim Blanco has pointed out, there is no way that this is statistically possible.  Honestly, I don’t know any other way to explain this other than to say that the numbers are being cooked.  It appears that the bureaucrats in Washington have gotten so lazy that they aren’t even bothering to change the fake numbers that they are giving us.  Even though large companies are conducting mass layoffs all over America, week after week we are given laughable numbers that indicate that everything is just fine.  At this point, the charade has become such a farce that even CNBC has published an article about this… (Read More...)

In the entire history of the United States, we have never witnessed an urban collapse of this magnitude.  During the pandemic, millions of Americans started working from home, and many of them have never returned to the office.  Meanwhile, rapidly rising levels of crime, homelessness and migration have transformed many of our inner cities into extremely dangerous places.  As a result, thousands upon thousands of businesses have left our core urban areas in search of greener pastures.  So now there is lots and lots of commercial real estate space that is sitting empty, and commercial real estate prices have absolutely plummeted. (Read More...)

Why are they being so quiet about this?  On Friday, the UN Security Council will take a vote which will determine whether or not “the State of Palestine” will be granted full UN membership.  If this vote is successful, that will formally create a Palestinian state that will have full recognition by the international community.  So this is a really big deal.  Algeria is the nation that has put this draft resolution forward, and it is scheduled for a vote at 3 PM Eastern time on Friday afternoon… (Read More...)

The middle class in the United States has been steadily shrinking, and the gap between the ultra-wealthy and the rest of us has grown to absurd proportions.  But it wasn’t always this way.  When I was growing up in the 1980s, it seemed like almost everyone was middle class.  Of course there were wealthy people and poor people in the 1980s too, but the vast majority of the population was comfortably somewhere in the middle.  Sadly, things have changed so much since that time.  Today, most of the people that I know are struggling.  According to a report that was just released, in all 50 states it now takes an income of more than $100,000 in order for a family of four to live “the American Dream”… (Read More...)

Can you imagine paying seven dollars for a gallon of gasoline?  It could soon happen, because it appears that Israel is about to strike Iran, and that is likely to cause events in the Middle East to spiral completely out of control.  Right now, approximately one-fifth of all oil used in the world goes through the Strait of Hormuz.  An apocalyptic war in the region could potentially close the Strait of Hormuz until the conflict is resolved one way or the other.  In addition, oil infrastructure could be destroyed in Iran and other nations in the Middle East as the fighting rages, and that could substantially reduce global oil production for an extended period of time.  Our way of life depends on cheap oil, and so if a major regional war in the Middle East causes the price of oil to go skyrocketing that is going to deeply affect all of us. (Read More...)

I have been sitting here trying to figure out what to write about what we just witnessed.  Just like October 7th, the shocking attack on Israel that just took place altered the course of history.  This was the first time that Iran ever attacked Israel directly, and I was flooded with emails by readers that were concerned about World War III.  So now that the Iranian attack is over, what will Israel do now?  That is the big question.  If Israel directly attacks Iran, the Iranians will inevitably respond and the conflict could spiral out of control.  But if the Israelis do not strike back, they will look weak and the Iranians could feel like they will be able to get away with similar things in the future. (Read More...)