The United States Has Become A Banana Republic

If we continue destroying the U.S. dollar at our current pace, toilet paper will eventually be more valuable than U.S. dollars.  I know that sounds absolutely crazy, but it is true.  Once the COVID pandemic hit the United States, those that control the levers of power in this country decided to go “full Weimar” and they never looked back.  As a result, the size of our money supply is rising at a rate that would have been unimaginable just a few short years ago.  To illustrate what I am talking about, I would like for you to check out this chart that was posted on Twitter by James Turk.  As you can see, M1 was up by more than 50 percent in 2020.

We’ve never had a year like that in all of U.S. history.  What we are doing is literally insane, but most Americans aren’t even aware of what is happening because the mainstream media isn’t talking about it.

If you are not familiar with “M1”, here is a definition that comes from Investopedia

M1 is the money supply that is composed of physical currency and coin, demand deposits, travelers’ checks, other checkable deposits, and negotiable order of withdrawal (NOW) accounts. M1 includes the most liquid portions of the money supply because it contains currency and assets that either are or can be quickly converted to cash. However, “near money” and “near, near money,” which fall under M2 and M3, cannot be converted to currency as quickly.

When new money enters the system, every dollar that you are currently holding becomes less valuable.

And if your paycheck does not rise at the same rate that the money supply is rising, that means that your paycheck becomes less valuable as well.

It is helpful to think of our money system as a pie.  When more dollars are added to the pie, your share of the pie steadily becomes smaller.

So who does benefit when the pie is expanded?

The ultra-wealthy do, and I will discuss that more below.

But first, I wanted to share another chart with you.  The first chart from James Turk showed how M1 has been rising on a percentage basis, and this next chart which comes directly from the Federal Reserve shows how M1 has been rising on an absolute basis…

Just look at that for a moment.

It truly is breathtaking.  M1 has literally been rising at almost a vertical rate, and it makes all of the inflation that has come before look almost meaningless.

This is why the stock market keeps hitting record high after record high.  Stocks started to crash when COVID first started to spread in the United States, and the Federal Reserve decided to do whatever was necessary to rescue the markets.  The “unprecedented” response that we witnessed ended up being “a key driver of billionaire wealth” in 2020…

A key driver of billionaire wealth concentration was the unprecedented monetary policy response to stabilize financial markets in the early days of the pandemic, which spurred the stock market’s gravity-defying rise. When Wall Street was on the verge of panic in March, the Federal Reserve intervened with the promise of low rates and an open-ended liquidity spigot.

In addition, Congress just kept passing “stimulus package” after “stimulus package” in a desperate attempt to “rescue” the economy.

But in the process they borrowed and spent trillions of dollars that we did not have, and that also helped to fuel our transition into hyperinflation.

The good news is that hyperinflation is not showing up at the grocery store or at Walmart yet.  Eventually it will happen, but so far consumer prices are just rising at a pace that is quite a bit brisker than usual.  Where we are seeing hyperinflation is in stock prices, high end real estate in rural and suburban areas, and in other areas of the economy that the ultra-wealthy have been pouring their money into.

Despite the fact that we just endured one of the worst economic years in U.S. history, 2020 was actually a banner year for billionaires

Between roughly mid-March and Dec. 22, the United States gained 56 new billionaires, according to the Institute for Policy Studies, bringing the total to 659. The wealth held by that small cadre of Americans has jumped by more than $1 trillion in the months since the pandemic began.

According to a December report issued jointly by Americans for Tax Fairness and the Institute for Policy Studies using data compiled by Forbes, America’s billionaires hold roughly $4 trillion in wealth — a figure roughly double what the 165 million poorest Americans are collectively worth. The 10 richest billionaires have a combined net worth of more than $1 trillion.

Last year the rich got a whole lot richer, and the poor got a whole lot poorer.

As I discussed the other day, 2020 was a “personal financial disaster” for 55 percent of all Americans.  The year ended with close to 20 million Americans still receiving government unemployment benefits, and poverty and homelessness have been exploding all around us.

In some cases, people were waiting in lines that were up to 12 hours long just to get a couple of bags of groceries at food banks around the nation.  We haven’t seen anything like this since the Great Depression of the 1930s, and many are expecting things to get even worse in 2021.

And with each passing day, more businesses are closing and more Americans are being laid off.

The retail sector has been hit particularly hard.  The following comes from Axios

Malls are going belly up. Familiar names like J.C. Penney, Neiman Marcus and J. Crew have filed for bankruptcy. Increasingly, Americans’ shopping choices will boil down to a handful of internet Everything Stores and survival-of-the-fittest national chains.

And what we have experienced so far is just the tip of the iceberg.  One recent report projected that “100,000 brick-and-mortar U.S. retail stores will close by 2025”

A research report from UBS predicts that 100,000 brick-and-mortar U.S. retail stores will close by 2025, in a trend that started before the pandemic and has accelerated amid coronavirus-related shutdowns.

Our national landscape is already littered with abandoned stores and restaurants, and they are telling us that it is only going to get worse.

What is our country going to look like as this process plays out?

Of course our authorities will just respond to every new crisis by printing even more money.

That is what they did down in Venezuela, and now just about everyone in Venezuela is a millionaire.

But most of those “millionaires” are living in crushing poverty because the money is absolutely worthless.

Sadly, many other countries are doing the same thing that the U.S. is doing, and so this hyperinflationary spiral is not likely to end any time soon.

But let there be no doubt that we are also in a global economic depression.  Global GDP is about 8 percent lower than it was before the pandemic started, and the outlook for 2021 does not look promising at all.

If you think that there is a way for this economic story to end well, just go back and look at the M1 chart from the Federal Reserve one more time.

Every other time this has been tried in human history, the story has ended badly.

Our story is going to end badly too, and every American needs to get prepared to survive in a very painful hyperinflationary environment.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

20 Numbers From 2020 That Are Almost Too Crazy To Believe

2020 has been a year that none of us will ever forget.  We experienced the worst global pandemic in 100 years, we witnessed the worst economic downturn since the Great Depression of the 1930s, civil unrest erupted in major cities all over America, and we had one of the wildest presidential elections in our history.  Other than that, it was a pretty quiet year.  For a few moments, let’s take one more look back at the past 12 months.  The following are 20 numbers from 2020 that are almost too crazy to believe…

#1 When 2020 began, nobody had ever heard of “COVID-19” because that term had not even been invented yet.  But by the end of the year, there had been more than 83 million confirmed cases around the globe and more than 1.8 million deaths.  Here in the United States, there have been more than 20 million confirmed cases so far and more than 350,000 deaths according to the official numbers.  Of course nobody is sure if we can trust the official numbers or not, because just recently a politician in Austria showed that a cup of Coca-Cola can test positive for COVID-19.

#2 All of the masks that we have been wearing and discarding during this pandemic have taken a heavy toll on the environment.  According to one study, more than 1.5 billion (with a “b”) masks will be dumped into the oceans of the world this year alone.

#3 The lockdowns that our politicians instituted to control the spread of COVID-19 resulted in an unemployment shock that was absolutely unprecedented.  Since the beginning of the pandemic, there have been more than 70 million new claims for unemployment benefits.  That means that we have been averaging well over a million new claims per week since the first lockdowns went into effect.  To put that into perspective, the old all-time record for a single week was just 695,000 and that was set all the way back in 1982.  During this pandemic, we have been above that old record every single week, and now unemployment claims are starting to rise higher once again.

#4 Almost four out of every ten Americans do not plan to get a COVID-19 vaccine, but the federal government is going to spend 250 million dollars on an “information campaign” that is designed to convince them otherwise.

#5 The civil unrest that erupted all over America following the death of George Floyd ultimately sparked a crime wave that seems as if it will never end.  According to an analysis of data from 57 big city police departments, the number of murders in those cities is up 36.7 percent compared to last year.  In quite a few of those cities, new all-time records are being established in 2020, and many Americans are anticipating even more violence in 2021.

#6 Recent data from Moody’s Analytics indicates that approximately 12 million U.S. renters are now “at least $5,850 behind in rent and utilities payments”.  Landlords all over the nation are in financial distress because of unpaid rent, and we could potentially see the greatest tsunami of evictions in all of U.S. history if and when all of the rent moratoriums are finally lifted in 2021.

#7 In 2020 we witnessed massively long lines at food banks all across America.  In some cases, people were lining up as early as 2 AM in order to make sure that they would get something before the supplies were gone.  Feeding America runs the largest network of food banks in the entire nation, and they were estimating that approximately one out of every four children in the U.S. would suffer from hunger by the time that 2020 was finally done.

#8 We haven’t seen an economic downturn this severe since the Great Depression of the 1930s, and the middle class has been hit particularly hard.  According to one recent survey, 2020 was a “personal financial disaster” for 55 percent of all Americans.

#9 But 2020 hasn’t been a financial disaster for everyone.  In fact, Forbes recently published an article which celebrated 50 doctors, scientists and healthcare entrepreneurs that become “pandemic billionaires” in 2020.

#10 The U.S. government continues to waste money in some of the most crazy ways imaginable.  I know that I shared this the other day, but I just had to include it in this article as well.  According to U.S. Senator Rand Paul, the federal government has spent 6.9 million dollars to develop a “smart toilet” which uses a very small camera to identify your “analprint”.

#11 One of the reasons why so much crazy spending happens is because our politicians don’t actually read the bills that they pass.  For example, the spending bill that the House of Representatives recently passed was 5,593 pages long, and members of the House were only given a few hours to look it over.  Unsurprisingly, the bill passed the House by a vote of 359 to 53.

#12 When Barack Obama first entered the White House, the U.S. was 10.6 trillion dollars in debt.  Now we are 27.5 trillion dollars in debt, and soon that total will hit the 30 trillion dollar mark.  Needless to say, this is a recipe for national financial suicide.

#13 The decline of the U.S. family continued to accelerate in 2020.  According to a recent Gallup survey, only 29 percent of Americans believe that “it is very important for couples who have children together to be married”.

#14 Americans have continued to get even bigger in 2020 as well.  At this point, 73 percent of the entire U.S. population is either overweight or obese.

#15 The amount of control that the big tech companies have over our lives has gotten more than just a little bit frightening, but most Americans don’t seem to mind.  In fact, one recent survey found that 2 out of every 3 Americans do not care if their smart devices are recording what they say and do at all times.

#16 But if anyone tried to take our smart devices away, then most of us would suddenly become very angry.  Another recent survey found that the average person will spend a total of 44 years looking at digital devices during their lifetimes.

#17 The recent presidential election has deeply divided our nation.  96 percent of Democrats believe that Joe Biden was elected fairly, but only 20 percent of Republicans feel the same way.

#18 Joe Biden only won 16.7 percent of all counties in the United States.  That was a new record low for a winning candidate, beating the previous record low of 22 percent which Barack Obama established in 2012.

#19 But Joe Biden also somehow won the most overall votes in U.S. history by a very wide margin.  He received more than 81 million votes, which was about 12 million more votes than Barack Obama got in 2008 when he set the old record.

#20 On December 14th, the Electoral College voted to make Joe Biden the next president of the United States.  Amazingly, that date is precisely halfway between the “Great American Eclipse” of 2017 and the “Great American Eclipse” of 2024.  If you plot the paths of those two eclipses on a map of the United States, you will see that they combine to form a giant “X” across the heartland of America.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Why Have Murder Rates Absolutely Skyrocketed All Over America In 2020?

We have seen spikes in certain major cities before, but there has never been a year quite like this.  In 2020, murder rates have been soaring dramatically from coast to coast, and many are deeply concerned about what our big metropolitan areas will look like if this trend continues into 2021 and beyond.  The civil unrest that erupted in the aftermath of the death of George Floyd certainly contributed to the rising numbers, but authorities have been shocked that murder rates have remained so elevated all year long.  Americans are killing Americans in record numbers, and nobody seems to have a solution to this growing national crisis.

Let’s take a look at some of the hard numbers.  In New York City, the number of murders has risen 41 percent compared to 2019…

The city – heralded as the safest big city in America in recent years – has recorded 447 killings this year as of Tuesday, a 41 percent increase over last year and the largest number since 2011.

The number of people shot has more than doubled last year´s total, nearing a 14-year high.

At one time NYC was considered to be one of the safest cities in America, but those days are long gone.

But at least New York is not as bad as Chicago.  In fact, the number of murders in Chicago this year is almost twice as high as the number of murders in NYC…

At least eight people were killed and 30 more were wounded in citywide shootings over the extended holiday weekend, the Chicago Sun-Times reported Monday. Three people were shot and killed on Christmas Day.

“We’re over 700 homicides by gun in Chicago this year and close to 800 total homicides for the year,” Chicago FOP President John Catanzara told Fox News Tuesday. “It’s reaching historic levels, and this when the city council and the mayor’s budget just cut over 600 jobs from the police department’s budget when crime is soaring. It’s ridiculous.”

Out on the west coast, rates of violent crime seem to be rising faster than anywhere else.  For example, the number of shootings in Portland is up 116 percent compared to last year…

Fox News reports based on local crime statistics that murders are surging in Portland, Oregon. “As of Christmas Eve, this year’s shootings had surpassed last year’s by more than 116%, with 393 shootings reported in all of 2019.”

2020 numbers dwarf the prior year’s, having reached over 850 shootings. Among these are more single-year homicides than in any year over the prior nearly three decades.

Almost everywhere you look, records have either already been broken or are in danger of being broken.

In Philadelphia, if 15 people get murdered by January 1st they will break the all-time record which was originally established 30 years ago

A violent night pushes Philadelphia closer to reaching a grim milestone. The city could be on track to surpass the most homicides ever in a calendar year.

The record is 504 homicides which was set in 1990 and with three days left to go in this year the city is has had at least 490.

And in south Florida, the number of murders in Miami-Dade County has already broken the old record by a good margin…

Officials recorded 272 homicides through Dec. 24 across Miami-Dade County, up 31 cases from all of 2019, records show. The year isn’t even over and it’s a recent high — up from 232 in all of 2017, and 252 in 2015.

Many Republicans have pointed out that murder rates seem to be rising fastest in cities that are governed by Democrats.  In Atlanta, Mayor Keisha Lance Bottoms says that she is “open to suggestions” because at this point she is at a total loss for how to stop the dramatic escalation of violent crime in her city…

Atlanta Mayor Keisha Lance Bottoms, a rising star in the Democratic Party who was recently considered for a position in President-elect Joe Biden’s cabinet, is coming under fire for her administration’s handling of a surge in violent crime in her city.

Saying she was ‘open to suggestions’ on stopping the crime wave, the mayor was on the defensive over the holiday weekend after three people were fatally shot in the city, bringing Atlanta’s homicide count to its highest in more than two decades.

Shall I share more examples, or do you get the point?

To call this a “crime wave” would be a major understatement.  Compared to last year, carjackings in Minneapolis were up 537 percent last month.

Just think about that.

When something is rising 537 percent, you are talking about an exponential increase.

Of course it might help if Minneapolis and other major cities were to actually increase police funding instead of decreasing it.

You can put as much money into “mental health programs” as you want, but the truth is that very few criminals will ever be talked out of committing crimes.

What keeps criminals from committing crimes is the fear of being caught and going to prison, and our politicians should never forget that.

Also, the reality of the matter is that so many of our law enforcement resources are being wasted right now.  Instead of brutally assaulting a disabled veteran for not wearing a mask, our law enforcement personnel need to be out in the streets battling one of the greatest crime waves that we have ever seen in all of U.S. history.

Our society is literally in the process of melting down all around us.  The thin veneer of civilization that we all take for granted on a daily basis is in grave danger, and many believe that very dark days are ahead for our country.

If we are seeing this much violent crime now, what will happen when economic conditions in this country become far worse?

Yes, reform is desperately needed in police departments all over the nation.

But we should be incredibly thankful for the boys in blue, because they are putting their lives on the line for us on a daily basis.

When someone is trying to break into your home, you will definitely want someone to be there on the other end of the phone when you dial 911.

And the way things are going, more Americans than ever will be facing that sort of a scenario in 2021.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

We’re On A Highway To Hyperinflation

Well, here we go again.  The U.S. House of Representatives just passed a $900 billion stimulus package, and we are being promised that it will provide a real “boost” to the economy.  Of course we were told the exact same thing about all of the other “stimulus packages” that have been passed since the beginning of the pandemic.  Most importantly to many Americans, $600 stimulus payments will soon be sent out directly to the American people.  If you are married and have three kids, you will get a total of $3,000, because each member of your family is counted equally for this round of stimulus payments.

But it won’t just be U.S. citizens that will be receiving free money.  According to Michelle Hackman of the Wall Street Journal, families of illegal immigrants will now be eligible as well…

Family members of unauthorized immigrants are now eligible to get stimulus checks under the $900 billion deal reached last night. That eligibility is retroactive, so adults excluded last time could get up to $1800 now

In addition, there is a tremendous amount of pork in the spending package that the House just authorized.  The following comes from Zero Hedge

And now, on to the pork… which includes billions to foreign countries, US military weapons purchases which go above and beyond their budgets, $40 million for the Kennedy Center, and nearly $200 million so that federal HIV/AIDS workers overseas can buy cars and car insurance, among other things.

Not surprisingly, the bill passed the House by a vote of 359 to 53.

I would like to applaud the 53 members of the House that tried to stand up and do the right thing, because this bill should have never been passed.

It is being reported that the bill was 5,593 pages long, and our representatives were only given a few hours to read it

Several members of Congress are taking to social media to complain about the handful of hours they have to read the 5,593-page spending bill.

Early Monday afternoon, the behemoth piece of legislation was uploaded, and House Speaker Nancy Pelosi scheduled a vote for the evening.

It is going to take weeks before we learn all of the insidious things that were snuck into this bill, because that is how long it is going to take for ordinary citizens to read it.

As for members of Congress, I doubt that any of them will ever end up reading the entire thing.

Our system of government is so broken, but most of the population doesn’t seem to care.

And most Americans also don’t seem to care that all of this ridiculous spending is literally destroying the bright future that our children and our grandchildren were supposed to have.

You see, the truth is that we don’t have 900 billion dollars to spend on a stimulus package.

Instead, the federal government will have to borrow 900 billion new dollars that the Federal Reserve creates out of thin air.

Needless to say, injecting 900 billion more dollars into the economy is going to be yet another massive shock for the money supply.  Even without this new stimulus package, M2 has been rising at an exponential rate since the start of the pandemic due to all of the previous stimulus packages that Congress approved and all of the “quantitative easing” that the Federal Reserve has been doing.

Prior to 2020, we had “inflation”, but now we have definitely entered a “hyperinflationary” phase.

In the short-term, $600 payments will help ease the economic suffering of tens of millions of Americans.

But in the long run, we are going down the exact same path that Venezuela, Zimbabwe and the Weimar Republic went down.

As I have explained to my regular readers repeatedly, just about everyone in Venezuela is a millionaire today, but just about everyone is also living in poverty because their money is almost absolutely worthless.

Unfortunately, most Americans are not interested in discussing the inflationary impact that all of this reckless spending is having.  Instead, social media is full of angry comments about how these $600 stimulus payments are not nearly large enough.

Just check out what some of the people on Twitter are saying…

Eli Yudin: Members of Congress got paid $130,000 to spend 9 months arguing about whether we deserve $600

Robert ReichPeople are starving and the GOP has the nerve to hand over a one-time $600 check, as the Pentagon spends $2 billion a day. The cruelty is staggering.

VeBeeYou and I : $600 … No thank you! Sudan : $700,000,000…HELL NO !

@BlessUSA45Leader of both party’s celebrating while laughing their asses off at us because they actually believe we are delighted to get our 600 dollar check from them.

@marie32318459: “i am very proud of this deal, because we came together, BI partisan” this is unacceptable. 9 MONTHS, getting paycheck after paycheck with American tax dollars and then come up with this “spit-in-the face” 600$ and they actually congratulating each other on this?
#eattherich

Allegedly Legendary: @SpeakerPelosi Americans need monthly cash assistance for all, #Med4All and a real plan to get people back to work. Not a $600 dollar one-time check. You’ve given tax cuts in the billions and bailouts but don’t help the American people. #StimulusChecksOrStrike

This is one of the big problems that happens once you start cruising down the road to socialism.

People always want more.

And actually Joe Biden is promising much more “stimulus” once he gets into the White House.

Giving people free money is a fast way to win votes, but it is also going to destroy the value of our currency.

If M2 continues to rise at an exponential rate, what do you think that is going to do to the cost of living in this country?

We all know the answer to that question, and if our paychecks do not keep pace that means that our standard of living will be going way down.

I have been warning that our financial system is headed for an epic meltdown, and now it is starting to become a reality right in front of our eyes.

Throughout human history, once currency devaluation reaches an exponential phase things always have ended badly.

And now it is our turn.

We’re on a highway to hyperinflation, and our maniacal free spending politicians are behind the wheel.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

For Millions Of Americans, No Money = No Christmas In 2020

In modern times, there has never been a Christmas like this in America.  Millions are freshly unemployed, another wave of lockdowns is forcing countless businesses to close their doors, and people are waiting in line for hours at food banks all over the nation just to get a little bit of food for their families.  Of course those at the bottom end of the economic food chain are being hit the hardest.  It is being reported that employment among those that make $27,000 a year or less is down 20 percent from pre-pandemic levels.  That is an extremely shocking number, and it helps to explain why the number of Americans living in poverty rose to 52 million during the month of November.

But it isn’t just the unemployed that are suffering.  Many of those that are still working have had their hours cut or they aren’t able to make as much in tips, commissions or bonuses as they did prior to the pandemic.

Tens of millions of households are bringing home less income these days, and this has become a major national crisis.  In fact, one brand new survey discovered that a whopping 42 percent of U.S. households are currently making less money than they did prior to the pandemic…

Nine months into the pandemic, 42% of Americans say their household income is still below what it was before the coronavirus outbreak began, according to a new survey from Bankrate.com.

And that same survey found that 85 percent of Americans are concerned about how their incomes will be affected by this pandemic moving forward…

As the financial fallout from the pandemic continues and with expanded unemployment benefits and eviction moratoriums set to expire at the end of the year, 85% of adults are worried about a lasting negative impact to their income. That’s an increase from the percentage of people who reported that same concern in June.

With less money to go around, this is not a “normal Christmas” for millions of U.S. families.

And in some cases, there simply will not be any presents at all.  For example, an unemployed nurse in Kansas named Sierra Schauvilegee says that her children “will not open a single gift” on Christmas morning this year…

There will be no presents under the Christmas tree this year for Sierra Schauvilegee and her children. Schauvilegee lost her job as a nurse when the residential care facility she worked for permanently closed down at the start of the coronavirus pandemic. Finding new work has proved impossible.

“This is the first year my children will not open a single gift, nothing under our tree,” said Schauvilegee, who lives in Ingalls, Kansas. “I used all my savings to survive and I begged my mother to move in until I received rental assistance and food stamps, that is all I literally have.”

Sadly, her case is not an isolated one.

There are so many others that are in the same boat, and that includes 60-year-old Melinda Cawthorne Shannon of Tampa, Florida

“Since July 26, 2020, we have been surviving on an unemployment income of $900 a month after taxes which is Florida’s maximum unemployment payment. This amount does not even cover the cost of rent for our tiny apartment,” Cawthorne Shannon said. “We have sold all personal items, except for a car, that had any value just to pay a bill. So now we sleep on palettes or lawn chairs.” She is unsure whether they will be able to stay in their apartment after New Year.

For Thanksgiving, Cawthorne Shannon and her daughter were only able to afford to have stuffing and cranberry sauce sandwiches. This year for Christmas, they can’t afford to celebrate it at all. They are hoping next year will be better.

Could you imagine sleeping on a lawn chair?

But at least she still has a roof over her head, and that is more than 57-year-old Randy Chase has

Randy Chase has lived in his pickup truck for months.

Luckily, the tiny cab of his 1996 Nissan is easy to heat and that’s a life saver in the sub-freezing winter chill outside of Denver.

Randy normally works as a construction worker, but work in his area has really dried up during this pandemic.

Now he spends his nights trying not to freeze to death in his truck, and that was made more difficult after his truck was “partially wrecked by a hit-and-run driver”

Chase has suffered misfortune after misfortune since the spring: Unemployment benefits have been stuck in limbo. Work opportunities have been sporadic. Now, the cold makes it hard to find jobs in his trade, as a mason on construction crews. His savings depleted and his truck partially wrecked by a hit-and-run driver, Chase can’t move somewhere where jobs are more plentiful.

Have you ever spent a night sleeping in a vehicle in a strange location?

If not, you should try it some time.

I promise you that it will be an experience that you will never forget.

Unfortunately, millions more Americans could soon find themselves thrown out into the streets.

According to CNBC, over 11 million U.S. households have piled up $70,000,000,000 in unpaid rent…

By January, more than 11 million households will owe more than $6,000 in back rent, utilities and late fees, on average — about four months’ worth, according to an estimate from Moody’s Analytics. That’s a collective deficit of $70 billion.

In past articles, I have warned about the unprecedented wave of evictions that we could see in 2021.  Unless something dramatic happens, the suffering that we are going to witness is going to be off the charts.

Of course what we really need is for the lockdowns to end so that the economy can start getting back to normal, but instead a new round of lockdowns is depressing economic activity all over the nation.

Today, I was stunned to learn that Apple is temporarily closing all of their stores in the entire state of California.  The good news is that those stores will eventually open back up again, but countless other businesses that are shutting down right now won’t be so fortunate.

This is what an economic depression looks like, and what we have experienced so far is just the beginning.

If you still have a warm home, plenty of food on the table and money for some of the luxuries in life, you should consider yourself to be extremely blessed.

Because for tens of millions of Americans, this Christmas is going to be an exceptionally bitter one, and the year ahead is not looking very promising at all.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Waiting For The Other Shoe To Drop…

Do you feel like another major crisis could erupt at any moment?  If so, you are certainly not alone.  Here in 2020, it has just been one thing after another, and we have come to expect the unexpected.  Right now, so many people that I am hearing from are anticipating that more big trouble is just around the corner, but as we wait for “the other shoe to drop”, economic conditions all over the United States continue to rapidly deteriorate.  For example, on Thursday we learned that the number of initial claims for unemployment benefits last week was the highest in four months

The US job market continues to suffer, and Thursday brought more bad news. Another 885,000 people filed for first-time unemployment benefits last week — an increase from the week prior and higher than the 800,000 claims that economists were expecting.

The latest figures, which are adjusted for seasonal factors and reported by the Labor Department, are particularly grim since last week’s numbers were revised up to 862,000. And even before the revision, that week had been the highest level since mid-September.

This isn’t how the numbers were supposed to be trending.

For four of the past five weeks we have seen the number of new unemployment claims go up, and experts are warning that we should expect things to get even worse as we head into winter

‘US weekly jobless claims continue to head in the wrong direction,” Edward Moya, an analyst at the currency trading firm OANDA, wrote in a research note.

‘The labor market outlook is bleak as the winter wave of the virus is going to lead to more shutdowns.”

Could we soon see more than a million Americans filing new claims for unemployment each week like we did earlier in the pandemic?

To put this in perspective, the previous all-time record prior to 2020 was just 695,000, and that old record was set all the way back in 1982.

We absolutely shattered that record once COVID-19 started spreading widely in the United States, and we have been above that old record every single week throughout this entire pandemic.

Just think about that.

We are seeing numbers that we have never seen before in all of U.S. history every single week, and now they are starting to climb higher once again thanks to the new lockdowns.

In addition, the number of Americans that are collecting unemployment aid from two major federal programs is also on the rise again

The number of jobless people who are collecting aid from one of the two federal extended-benefit programs – the Pandemic Unemployment Assistance program, which offers coverage to gig workers and others who don´t qualify for traditional benefits – surged to 9.2 million from 8.6 million for the week that ended Nov. 28.

But the number of people receiving aid under the second program – the Pandemic Emergency Unemployment Compensation program, which provides 13 weeks of federal benefits to people who have exhausted their state aid – also rose from 4.5 million to 4.8 million.

By now, the “recovery” was supposed to be in full gear, but instead major companies keep laying off more workers at an astounding pace.

For example, on Thursday we learned that Coca-Cola will be eliminating 12 percent of their entire U.S. workforce…

Coca-Cola is planning to cut 2,200 jobs, including 1,200 in the United States, as it faces declining sales during the pandemic.

In the United States, where there were about 10,400 employees at the end of last year, the cuts represent roughly 12% of the workforce. In Atlanta, where the company is headquartered, about 500 jobs are being eliminated, the company said Thursday.

Coca-Cola wouldn’t be doing this if the U.S. economy was about “to turn a corner”.

All of these big corporations that are letting workers go can see what is about to happen, and they are slimming their payrolls in an attempt to make it through the coming storm.

Meanwhile, Congress is getting close to approving yet another “stimulus package”, and the Federal Reserve is promising to do whatever it takes to support the financial markets.

Trillions upon trillions of dollars are being slammed into the system, and as a result M2 is up more than 60 percent so far this year.

In other words, our money supply has been increasing at an almost vertical rate in 2020.

Back in November I included a chart in an article that I wrote which shows exactly what I am talking about.  If you are not one of my regular readers, you can find that article right here.

For many years, many of us have been warning that hyperinflation would arrive someday.

But now we can stop warning, because the process has actually started.

Other industrialized nations have also been flooding their systems with new money, and this is really starting to drive up food prices all over the globe.  The following comes from Zero Hedge

The reason this has suddenly become a hot topic is because while overall inflation remains subdued (we will spare a discussion here of why the CPI is purposefully distorted to stay as low as possible – readers can catch up herehere and here), food inflation has been on a tear in recent months. In fact, it has gotten so high that earlier this week Goldman published a report looking at “The Recent Spike In Food Inflation”, in which it noted that “in recent months, inflation has risen and surprised to the upside across a number of major EM economies (e.g. Turkey, South Africa, India, Brazil andRussia).” According to Goldman, one of the main drivers of these increases has been higher food inflation, which has coincided with a sharp increase in the price of some key agricultural commodities (e.g. grains, oils and soybeans).”

Sadly, this is just the beginning.  Eventually, the food riots which have already started on the other side of the planet will start happening in the western world too.

And as hungry people become increasingly desperate, I believe that eventually companies will start putting armed guards on food trucks.

We aren’t quite there yet, thankfully, but things are really starting to get crazy out there.

A few days ago I went to the supermarket again, and I really tried to economize and get things that were on sale, but I still spent more than 260 dollars on one cart of food.

Just one cart!

As the cost of living continues to soar into the stratosphere, many American families are going to discover that they are no longer able to afford enough food for the week.

And once millions upon millions of Americans get desperately hungry, that is when we will see absolutely insane economic riots in this country.

All of these things are coming, and we definitely will not have to wait very long at all for “the other shoe to drop”.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Winter Is Coming: 62% Of U.S. Small Business Owners “Fear The Worst Is Still To Come”

The official start of winter is just a few days away, and many small business owners are concerned that their businesses won’t be able to make it to the start of spring.  This is particularly true for those small businesses that rely on face to face interaction with the general public.  Restaurants, bars, gyms, coffee shops, hairdressers and independent retailers all over the nation were absolutely devastated by the first round of lockdowns, and now a new round of lockdowns is dealing death blows to countless businesses that had hoped to find a way to heal and get back on their feet in 2021.  Politicians such as California Governor Gavin Newsom and New York Governor Andrew Cuomo don’t seem to care that they are literally destroying millions of hopes and dreams.  If and when this pandemic finally ends, they will get to go on with their normal lives, but vast numbers of their constituents will not.

According to a brand new U.S. Chamber-MetLife poll of small businesses, just 40 percent of all U.S. small business owners “believe their small businesses can operate indefinitely” the way things are going right now, and a whopping 62 percent of them are convinced that “the worst is still to come”

The quarterly poll found that the 62% of small-business owners fear that the worst is still to come with COVID-19’s economic impact. Only 40% said they believe their small businesses can operate indefinitely during the current business environment.

Those numbers are consistent with what other recent surveys of small businesses have shown.

There are approximately 30 million small businesses in the United States today, and so that means that if even a third of them were forced to close down permanently we would lose 10 million small businesses.

Can you imagine what that would mean for the economy as a whole?

That same U.S. Chamber-MetLife poll of small businesses also found that 74 percent of all U.S. small business owners “need further government assistance to weather the pandemic”

A new U.S. Chamber-MetLife poll of small businesses taken from Oct. 30-Nov. 10 and released on Tuesday showed that 74% of the owners said they need further government assistance to weather the pandemic. That percentage rises to 81% for minority-owned businesses.

And when most of those small business owners say that they are in desperate need of help, they are not kidding.

According to the most recent Alignable rent survey, 35 percent of all small businesses in the United States “couldn’t pay their rent this month”

    • Several B2C industries are devastated – 61% of restaurants can’t pay their rent this month. That’s up 19% from 42% in November.
    • 35% of U.S. small businesses couldn’t pay their rent this month, up 3% from 32% in November.
    • Beauty salons (46%) and travel/hospitality businesses (43%) round out the Top 3 most-affected businesses, but many others are in trouble.
    • Looking at demographics, minority-owned businesses are suffering the most, as 49% of them reported that they could not afford their rent in December. That figure is 5% higher than it was in November.
    • Women-owned businesses are also struggling (38% of those have not paid their rent, up 3% from 35% last month).

This isn’t what a “recession” looks like.

When more than a third of all small businesses in the entire nation can’t even pay rent, that is called an “economic collapse”.

We can see more evidence of economic collapse when we look at federal tax receipts.

Over the last 9 months, the drop in tax receipts “is the largest on record”

The pandemic hit the economy in March, triggering widespread job loss and partial and full closing of many small businesses. In November, 9 months into the pandemic, federal gross withheld income tax receipts were off 13% from a year ago. That is roughly in line with the average decline of 15% recorded over the 9-month span, March through November.

Checking the tax data records from the US Treasury the decline in tax receipts over the last 9 months is the largest on record. The only comparable period is the 14% drop in 2009 during the Great Financial Recession.

In other words, we have never seen anything like this before.

And with each passing day, more Americans are falling out of the middle class and into poverty.

In fact, nearly 8 million more Americans have fallen into poverty just since the month of June

The U.S. poverty rate has surged over the past five months, with 7.8 million Americans falling into poverty, the latest indication of how deeply many are struggling after government aid dwindled.

The poverty rate jumped to 11.7 percent in November, up 2.4 percentage points since June, according to new data released Wednesday by researchers at the University of Chicago and the University of Notre Dame.

Things are getting worse, and it is happening very rapidly.

Everywhere you look there are tragic stories.  The other day I was deeply saddened when I heard that a 2-year-old boy had been abandoned at a Goodwill store.  When people feel like they are out of options, they can get very desperate, and desperate people do desperate things.

At this point, things are so bad that they are even setting up food banks on U.S. military bases

Fort Bragg, the largest military base in the United States, has all the trappings of a small American city: shopping centers, a barber shop and social clubs. In a sign of the times, it also has a food bank.

This spring, the Y.M.C.A. on base — which started a food pantry last year to respond to the growing food insecurity among military families — saw a 40 percent increase in requests for groceries. During the same period, grocery requests to AmericaServes, a network that helps military families, jumped to the biggest service request in the organization’s history.

Theoretically, military bases shouldn’t need food banks because everyone in the military is getting a paycheck.

But at this point the cost of living is rising so much faster than paychecks are that even military families are starting to go hungry.

Of course Congress is “feverishly” working on a new stimulus package to help alleviate the suffering of the American people, but some Democrats are extremely upset that they are being forced to choose either enhanced unemployment benefits or $600 stimulus checks for the American people…

Rep. Alexandria Ocasio-Cortez fiercely criticized the apparent trade-off to include a round of $600 stimulus checks at the expense of funding for enhanced unemployment insurance, calling it “inhumane.”

“The fact that Republicans are forcing Dems to choose between stimulus money OR unemployment benefits, as if we couldn’t easily do both, is barbaric,” the New York congresswoman tweeted. “Do they know that people in red states are hungry too, or do they just not care?”

Considering the fact that we are already 27.5 trillion dollars in debt, the truth is that we really can’t afford any of this.

But if we are in the process of liquidating the nation anyway, we might as well ask for the biggest checks that we can possibly get.

Sadly, nothing that our leaders do now is going to stop our economic collapse from eventually getting a whole lot worse.

For the past several decades we have been on the greatest debt binge in the history of the human race, and now that bubble is in the process of bursting.

Those that are expecting life to “return to normal” at some point are going to be deeply disappointed, because the “big meltdown” has now started, and it appears that 2021 is going to be a really, really painful year.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.