Goodbye Middle Class: 50 Percent Of All U.S. Workers Made $34,612.04 Or Less Last Year

If we keep going down this path, soon we won’t have much of a “middle class” at all.  When I first started writing about the economy many years ago, I often wrote about the tens of millions of “working poor” Americans that were enduring so many hardships.  But at this point most of the nation now falls into the “working poor” category.  That isn’t because wages haven’t been going up.  Little by little, wages have been incrementally rising year after year, but meanwhile the cost of living has been absolutely soaring.  Paychecks have not even come close to keeping up with inflation, and this has been eviscerating the middle class.  Today, the majority of the country is in constant “survival mode” financially, and that isn’t going to change any time soon. (Read More...)

Beef Will Now Be A “Luxury Product”, And Cheap Chicken Dinners “Are Coming To An End”

The “reset economy” is coming, and it isn’t going to be very pleasant.  Rather than viewing the economic chaos caused by the pandemic as a negative thing, many among the worldwide elite consider it to be a golden opportunity to fundamentally transform the global economy according to their values.  As they radically reshape our economic system, one of their primary goals will be to make any products that are “bad for the environment” cost a lot more.  In other words, behaviors that produce a lot of carbon emissions must be punished.  That is particularly bad news for those that love to eat a lot of meat, because the production of meat is considered to be particularly “harmful” for the environment. (Read More...)

As The Global Energy Crisis Explodes, They Are Warning That Heating Bills Will Be Extremely Painful This Winter

Whether you like it or not, a major global energy crisis is here, and it is going to hit all of us right in the wallet.  Today, markets for energy are truly global, and that means that price spikes in one part of the planet will inevitably filter elsewhere.  For example, a lot of natural gas that is produced in the United States is now heading for Europe, and that is pushing up prices here.  As energy supplies get tighter and tighter, power bills are going to go higher and higher.  In fact, the U.S. government is now warning American citizens to expect heating bills to rise more than 50 percent this winter.  Needless to say, a lot of families out there simply cannot afford that. (Read More...)

Americans Are Going To Be Absolutely Shocked By The Empty Shelves That They See

If you believe that America is headed into a new golden age of prosperity, you are getting lonelier with each passing day, because many others that were wildly optimistic about the economy earlier this year have been jumping ship.  In fact, even the White House is now openly admitting that there will be significant shortages this holiday season.  To many Americans, these shortages have come as a complete shock.  Most of us have never experienced such shortages, and most of us never even dreamed that they were possible.  But those that have been following my work for an extended period of time were not surprised by any of this.  We were warned over and over again that shortages and rampant inflation were ahead of us, and now they are here with a vengeance.  Unfortunately, the truth is that what we have gone through so far is just the beginning. (Read More...)

Now A U.S. Government Official Is Telling Us That The Supply Chain Nightmares Could Potentially Last For “Years”

The truth is starting to come out, and a lot of people aren’t going to like it.  When the supply chain problems and the shortages began, government officials repeatedly assured us that they would just be temporary, and most of us believed them.  But now it has become clear that they aren’t going to be temporary at all.  In fact, during a recent interview with Bloomberg, U.S. Transportation Secretary Pete Buttigieg admitted that some of the supply chain problems that we are currently facing could last for “years and years”.  I don’t know about you, but to me “years and years” sounds like a really long time. (Read More...)

Our Economy Is Starting To Break Down On A Very Basic Level

Do you remember how much optimism there was last January?  Many Americans were entirely convinced that really bright days were just around the corner, but instead things have taken a dramatic turn into the dumpster over the last 9 months.  The Afghanistan debacle was the worst foreign policy embarrassment in modern American history, the Biden administration is trying to deal with an unprecedented crisis on our southern border, and the way that our politicians are handling the pandemic is causing extremely deep divisions throughout our society.  In addition, our economy is starting to break down on a very basic level.  On a widespread basis, goods are not getting to the places they need to be when they need to be there, and services are often not available when people need them.  As time has passed, the “malfunctioning” of our economy has spread, and now the coming mandates threaten to make things a whole lot worse. (Read More...)

The Mystery Of The Millions Of “Missing Workers”

Something really strange is going on, and none of the “experts” can explain why it is happening.  Right now, there are more jobs available than ever before.  In fact, according to one recent measure there were nearly 11 million job openings in the United States during the month of July.  There are literally “help wanted” signs all over the place, and so if you want a job you can go get a job.  It may not be the job that you want, but the truth is that there are millions upon millions of jobs available.  We are in the midst of the greatest labor shortage in U.S. history, and companies are absolutely desperate to hire people.  Wages are being raised to unprecedented levels, signing bonuses are often being offered, and some companies have completely waived drug testing requirements.  Labor has become one of the hottest commodities in America, and you would think that in such an environment we would see huge numbers of people being hired. (Read More...)

The Global Energy Crisis Is Going To Take “The Everything Shortage” To An Entirely New Level

This is going to be one tough winter.  On top of everything else we are facing, a very alarming energy crisis is rapidly growing all over the world.  Supplies of natural gas and coal are getting tighter by the day, and this is dramatically affecting manufacturing in major exporters such as China.  So that means that less stuff is going to be coming across the ocean in the months ahead, and that means that the shortages in our stores are going to be getting even worse.  This is really happening, and we are going to have to deal with it. (Read More...)

+ More