The Economic Collapse

I hope that I am wrong about our immediate economic future, and I hope that all of the other respected voices that are warning of economic doom in 2023 are wrong too.  It would be wonderful if things turn in a positive direction at some point during the next 12 months and 2023 turns out to be a year of peace and prosperity for the entire world.  Of course virtually nobody is expecting the year to start well.  As I discussed yesterday, there is a growing consensus among the “experts” that the months ahead will be quite rough.  But even though it has become exceedingly obvious that short-term economic conditions will not be good, some optimists are still trying to put a positive spin on things.  For example, Moody’s Analytics chief economist Mark Zandi is trying to convince us that we will only have to endure a “slowcession” before things finally turn around… (Read More...)

There is a growing consensus that 2023 is going to be a miserable year for the U.S. economy and for the global economy as a whole.  In fact, in all the years that I have been writing I have never seen so many big names on Wall Street be so incredibly pessimistic about the coming year.  Of course much of that pessimism is due to the fact that 2022 went so poorly.  The cryptocurrency industry imploded, trillions of dollars in stock market wealth evaporated, inflation became a major problem all over the industrialized world, and a new housing crash suddenly erupted.  Considering all of the pain that we have experienced over the past 12 months, it is only natural for the experts to have a negative view of 2023.  The following are 11 ominous warnings that they have issued for the year ahead… (Read More...)

It amazes me that so many people still cannot understand what is happening.  2022 was supposedly going to be a year when America entered a new golden age of prosperity, but that didn’t happen.  Instead, it was a complete and utter disaster.  Stock prices fell by the most that we have seen since 2008, the cryptocurrency industry came apart at the seams, inflation soared to absurd heights, and home sales just kept declining all throughout the year.  Without a doubt, 2022 represented a major turning point.  Americans have already collectively lost trillions of dollars, and many experts are telling us that 2023 will be even worse. (Read More...)

The Federal Reserve giveth, and the Federal Reserve taketh away.  In a desperate attempt to help the U.S. economy recover from the horrific economic crisis of 2008 and 2009, the Federal Reserve pushed interest rates all the way to the floor and kept them at or near the floor until 2022.  During that same time period, the Fed also created trillions of dollars out of thin air and pumped it into the financial system.  All of this new money had to go somewhere, and it created colossal financial bubbles that were unlike anything we had ever seen before.  There were a few voices that were warning that all of this foolishness would end very badly, but those voices were mostly drowned out by those that were super happy that asset values were absolutely exploding.  The Fed had essentially created the ultimate “get rich quick scheme”, and countless Americans were more than happy to take advantage of it. (Read More...)

I suppose that this is a fitting way to end the year.  2022 has been a year of war, plagues, natural disasters, shortages and severe economic troubles, but up until this month we had not been able to add “an apocalyptic winter storm” to the list yet.  Unfortunately, what we have just been through over the last week definitely qualifies.  A “monster storm” that covered almost the entire country at one point brought blizzard conditions to much of the U.S. over the past several days.  Temperatures dipped down to minus 50 degrees in some areas, and extremely high winds and heavy snow combined to create truly nightmarish conditions in certain cities.  For example, we are being told that this was the “most devastating storm in Buffalo’s long storied history”… (Read More...)

How many millions have to die before people start to realize what is happening?  For years, I have been persistently warning that we would soon enter an era of great pestilences, and now it is here.  Sadly, what we have witnessed over the past few years is just the tip of the iceberg.  At this point we have been perfectly primed for future pandemics because vast numbers of people all over the planet are now running around with compromised immune systems.  That means that diseases will now be able to spread even more easily, and this is a trend that we have already started to see all throughout 2022. (Read More...)

Economic conditions just keep getting worse.  As we prepare to enter 2023, we find ourselves in a high inflation environment at the same time that economic activity is really slowing down.  And just like we witnessed in 2008, employers are conducting mass layoffs as a horrifying housing crash sweeps across the nation.  Those that have been waiting for the U.S. economy to implode can stop waiting, because an economic implosion has officially arrived.  The following are 15 facts that prove that a massive economic meltdown is already happening right now… (Read More...)

We are only at the very beginning of winter, and we are already being hit by a storm that will bring “the coldest air in decades” to many parts of the country.  In fact, there will be some areas where wind chill temperatures drop so low that it will literally be “life-threatening” to be outside.  Needless to say, we could really use some of that “global warming” they keep talking about right now, because conditions are going to be bitterly cold all over the U.S. this week.  For years, I have been warning that global weather patterns are starting to go completely nuts, and this winter is certainly off to an extremely bizarre beginning.  If you live in a place that will get hit really hard this week, please be safe. (Read More...)