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Unemployment Claims Spike Again As We Get More Scientific Evidence The Middle Class Is Shrinking

Despair And Unemployment - Public DomainAs the U.S. economy slows down, we would expect to start to see evidence of this in the employment numbers, and that is precisely what has begun to happen.  During the week before last, initial claims for unemployment benefits jumped by 17,000, which was the largest increase that we had seen in over a year.  Well, last week we witnessed an even bigger spike.  Seasonally adjusted initial claims shot up 20,000 more to a total of 294,000.  Of course it makes perfect sense that more Americans are applying for unemployment benefits, because firms are laying people off at a much faster pace these days.  Just a couple days ago I reported that job cut announcements at major firms are running 24 percent higher this year compared to the first four months of last year.  So we should fully expect that the number of Americans seeking unemployment benefits will continue to accelerate. (Read More....)

Amerigeddon: Are You Ready For The Chaos That Will Ensue When The Power Grid Is Brought Down?

Electromagnetic Pulse Attack - Creative CommonsWhat would America look like with absolutely no electricity?  Could you survive in a world with no lights, no cell phones, no computers, no televisions, no ATMs, no cash registers and no refrigerators?  Such a world is not as far away as you might think.  A very powerful nuclear blast directly over the center of the continental United States could potentially fry electronic equipment from coast to coast, and it would take months or even years to fully restore power.  During that time, the entire country would be plunged into chaos and experts tell us that tens of millions of Americans would die.  But even if we are never attacked by a nuclear weapon in that manner, scientists assure us that it is inevitable that a massive electromagnetic blast from the sun will produce a similar result someday anyway.  In fact, back in 1859 a giant solar storm that came to be known as “the Carrington Event” fried telegraph machines all across North America and Europe.  If a similar event happened today, life as we know it would be brought to an abrupt halt, and chaos would ensue from coast to coast. (Read More....)

11 Signs That The U.S. Economy Is Rapidly Deteriorating Even As The Stock Market Soars

Dollar Bending - Public DomainWe have seen this story before, and it never ends well.  From mid-March until early May 2008, a vigorous stock market rally convinced many investors that the market turmoil of late 2007 and early 2008 was over and that happy days were ahead for the U.S. economy.  But of course we all know what happened.  It turned out that the market downturns of late 2007 and early 2008 were just “foreshocks” of a much greater crash in late 2008.  The market surge in the spring of 2008 was just a mirage, and it masked rapidly declining economic fundamentals.  Well, the exact same thing is happening right now.  The Dow rose another 222 points on Tuesday, but meanwhile virtually every number that we are getting is just screaming that the overall U.S. economy is steadily falling apart.  So don’t be fooled by a rising stock market.  Just like in the spring of 2008, all of the signs are pointing to an avalanche of bad economic news in the months ahead.  The following are 11 signs that the U.S. economy is rapidly deteriorating… (Read More....)

All Of A Sudden, Fish Are Dying By The MILLIONS All Over The Planet

Fish Deaths - Public DomainWhy are millions upon millions of dead sea creatures suddenly washing up on beaches all over the world?  It is certainly not unusual for fish and other inhabitants of our oceans to die.  This happens all the time.  But over the past month we have seen a series of extremely alarming mass death incidents all over the planet.  As you will see below, many of these mass death incidents have involved more than 30 tons of fish.  In places such as Chile and Vietnam, it has already gotten to the level where it has started to become a major national crisis.  People see their coastlines absolutely buried in dead sea creatures, and they are starting to freak out. (Read More....)

Welcome To Hell: The Giant Fort McMurray Fire Is The Worst Blaze In Canadian History

Fort McMurray Fire - Photo by DarrenRDThe gigantic wildfire that has forced the evacuation of the entire city of Fort McMurray in northern Alberta has been nicknamed “the Beast“, and mainstream news reports are telling us that it is now approximately 25 percent larger than New York City.  88,000 people have already been forced out of their homes, at least 1,600 buildings have been destroyed, and smoke from the fire has been spotted as far away as Iowa.  To say that this is a “disaster” is a massive understatement.  Northern Alberta is “tinder dry” right now, and authorities say that high winds could result in the size of the fire doubling by the end of the weekend.  One-fourth of Canada’s oil output has already been shut down, and the edge of the fire is now getting very close to the neighboring province of Saskatchewan.  This is already the most expensive natural disaster in the history of Canada, and officials fully expect to be fighting this blaze for months to come. (Read More....)

The Next Employment Crisis Is Here: Job Cuts At U.S. Companies Jump 35 Percent In April

Layoffs - Public DomainShould we be alarmed that the number of job cuts announced by large U.S. companies was 35 percent higher in April than it was in March?  This is definitely a case where the trend is not our friend.  According to Challenger, Gray & Christmas, U.S. firms announced 65,141 job cuts during April, which represented a massive 35 percent increase over the previous month.  And so far this year overall, job cut announcements are running 24 percent higher than for the exact same period in 2015.  Meanwhile, on Thursday we learned that initial claims for unemployment benefits shot up dramatically last week.  In fact, the jump of 17,000 was the largest increase that we have seen in over a year.  Of course the U.S. economy has been slowing down for quite a while now, and many have been wondering when we would begin to see that slowdown reflected in the employment numbers.  Well, that day has now arrived. (Read More....)

Rail Traffic Depression: 292 Union Pacific Engines Are Sitting In The Arizona Desert Doing Nothing

Union Pacific Engines - Google EarthWe continue to get more evidence that the U.S. economy has entered a major downturn.  Just last week, I wrote about how U.S. GDP growth numbers have been declining for three quarters in a row, and previously I wrote about how corporate defaults have surged to their highest level since the last financial crisis.  Well, now we are getting some very depressing numbers from the rail industry.  As you will see below, U.S. rail traffic was down more than 11 percent from a year ago in April.  That is an absolutely catastrophic number, and the U.S. rail industry is feeling an enormous amount of pain right now.  This also tells us that “the real economy” is really slowing down, because less stuff is being shipped by rail all over the nation. (Read More....)

A New Digital Cash System Was Just Unveiled At A Secret Meeting For Bankers In New York

Secret - Public DomainLast month, a “secret meeting” that involved more than 100 executives from some of the biggest financial institutions in the United States was held in New York City.  During this “secret meeting“, a company known as “Chain” unveiled a technology that transforms U.S. dollars into “pure digital assets”.  Reportedly, there were representatives from Nasdaq, Citigroup, Visa, Fidelity, Fiserv and Pfizer in the room, and Chain also claims to be partnering with Capital One, State Street, and First Data.  This “revolutionary” technology is intended to completely change the way that we use money, and it would represent a major step toward a cashless society.  But if this new digital cash system is going to be so good for society, why was it unveiled during a secret meeting for Wall Street bankers?  Is there something more going on here than we are being told? (Read More....)

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