The Economic Collapse

Is this going to be the next great global pandemic?  When I first wrote about this monkeypox outbreak exactly one week ago, there were just three cases and all of them were in the UK.  Now here we are just seven days later, and there are confirmed or suspected cases in 17 different countries.  If you are still not familiar with monkeypox, it has been described as a less deadly cousin of smallpox.  In the 20th century, smallpox killed more than 300 million people, and so we definitely do not want to see a smallpox outbreak ever again.  Thankfully, the death rate for monkeypox is much lower.  But it still has the potential to kill lots of people, and so hopefully authorities can find a way to contain this outbreak before it spirals out of control. (Read More...)

If you thought that the economic news was crazy during the first half of 2022, just wait until we get to the second half.  So many of the problems that we are experiencing now are going to continue to intensify, and Americans are becoming more pessimistic about economic conditions with each passing day.  In fact, as you will see below, a whopping 85 percent of us believe that it is “very likely” or “somewhat likely” that the economy will go through a recession at some point during the next year.  Of course the truth is that if all we have to suffer through is a “recession”, we would be extremely fortunate.  Our leaders have lost control of the economy, and many of us are extremely concerned about what is coming next.  The following are 12 nightmarish economic trends that we should expect to see during the second half of 2022… (Read More...)

This is starting to get really bad.  By now, you have probably heard that the stock market crashed again on Wednesday.  The carnage was immense, and the big names on Wall Street are deeply concerned about what will happen next.  But this wasn’t supposed to happen.  After falling for six weeks in a row, this was supposed to be the week when stock prices finally bounced back.  Needless to say, that isn’t what we are witnessing.  In fact, we just witnessed the worst day for the Dow since the early days of the COVID pandemic… (Read More...)

Why have they suddenly decided to reveal so much?  For decades, a very thick cloak of secrecy has surrounded what the government really knows about UFOs, but now our politicians are talking openly about such things.  In fact, Congress just held their very first public hearing about UFOs in 50 years.  So what has changed?  If anything happens in Washington, it is usually because someone has an underlying agenda.  Could it be possible that we are being prepared for some sort of a huge revelation? (Read More...)

Most Americans didn’t understand that the exceedingly foolish decisions of our leaders would eventually have a major impact on how they live their lives every single day.  But there are some of us that did.  Many of us literally begged our politicians to stop borrowing and spending trillions upon trillions of dollars that we did not have.  But they refused to listen.  And many of us literally begged the officials at the Federal Reserve to stop pumping trillions upon trillions of fresh dollars into the financial system.  Of course they wouldn’t listen to us either.  Now our standard of living is steadily being eviscerated, and most of the population seems quite surprised that this is happening. (Read More...)

If you think that the food and diesel shortages are bad now, then you will be absolutely horrified by what the globe is experiencing by the end of the year.  All over the planet, food production is being crippled by an unprecedented confluence of factors.  The war in Ukraine, extremely bizarre weather patterns, nightmarish plagues and a historic fertilizer crisis have combined to create a “perfect storm” that isn’t going away any time soon.  As a result, the food that won’t be grown in 2022 will become an extremely severe global problem by the end of this calendar year.  Global wheat prices have already risen by more than 40 percent since the start of 2022, but this is just the beginning.  Meanwhile, we are facing unthinkable diesel fuel shortages in the United States this summer, and as you will see below there are “no plans” to increase refining capacity in this country for the foreseeable future. (Read More...)

It is happening again.  More than a decade ago, we witnessed an absolutely unprecedented “housing bubble” in the United States followed by a horrific crash that resulted in millions of Americans losing their homes and a financial catastrophe on Wall Street that we still talk about today.  But instead of learning our lessons from that disaster, we are repeating history instead.  The “housing bubble” that we are currently experiencing is far larger than the one that burst in 2008, and everyone knew that if mortgage rates rose high enough it could cause the bubble to burst.  Unfortunately, that is precisely what is taking place.  The average 30 year fixed mortgage rate was sitting at 2.67 percent in December 2020, and now it has risen to 5.30 percent.  In case you are bad at math, that means that the average 30 year fixed mortgage rate has roughly doubled, and that is extremely bad news for the housing market. (Read More...)

I have really been struggling to come up with an accurate way of describing the current state of the U.S. economy, because none of the traditional labels seem to apply.  Inflation is out of control, and that normally happens when an economy is overheating.  But of course the U.S. economy is not overheating.  In fact, if U.S. GDP falls once again during the second quarter, that will officially confirm that we are actually in a recession right now.  There are some that have suggested that “stagflation” is a good description of current economic conditions, but the truth is that what we are facing is so much worse than anything that we dealt with during the 1970s. (Read More...)