In this article, I am going to share even more evidence that a global economic slowdown has already begun.  When you add these numbers to all of the other numbers that I have been sharing in recent weeks, it becomes impossible to deny that something major is taking place.

The following are 5 more signs that the global economy is careening toward a recession…

#1 It is being projected that global auto sales will be down approximately 4 percent this year.  According to CNN, this will be the second consecutive year that global auto sales have fallen…

With only a month left in the year, global auto sales are on track for a 3.1 million drop, about 4%, for the year, according to Fitch. That would be the biggest decline since 2008, when the financial crisis hit, and the second year in a row that sales have fallen. Fitch expects worldwide car sales to total 77.5 million in 2019.

#2 Global trade just keeps falling.  According to Zero Hedge, total global trade has now declined on a year over year basis for four months in a row…

Global trade on a YoY basis contracted by 1.1% in September, marking the fourth consecutive YoY declines and the most extended period of subdued trade since the financial crisis in 2009.

The CPB said supply chain disruptions between the US and China, due mostly to the trade war, were the most significant drag on international trade volumes. US volumes fell 2.1% in September MoM. Though in China, imports plunged 6.9% MoM.

As you can see from those first two examples, we keep witnessing things happen that we haven’t seen since the last financial crisis.  Over the past few months, I have used phrases such as “since 2008” and “since 2009” over and over again.  We literally have not seen economic numbers this bad since the last recession, and we are still in the very early phases of this new downturn.

And in some cases, the numbers are actually even worse than anything that we saw during the last recession, and that brings us to our next sign…

#3 Chinese industrial profits just fell by the largest percentage ever recorded…

China Industrial Enterprises total profits collapsed in October to CNY427.5bn from CNY575.6bn in September – a 9.9% YoY plunge, the biggest drop on record.

In fact, China’s Industrial sector has seen annual declines in its profits for 4 of the last 6 months.

The trade war has hit the Chinese economy really hard, but it doesn’t look like a trade deal will happen any time soon.

#4 U.S. consumer confidence has now fallen for four months in a row…

Consumer confidence dipped for a fourth straight month in November as economic conditions weaken toward the end of 2019, data released Tuesday by The Conference Board shows.

The board’s consumer confidence index dipped to 125.5 this month. That’s down from 126.1 in October. Economists polled by Dow Jones expected the index to rise to 126.6.

This wasn’t supposed to happen, and if it keeps happening that is going to have important implications for the 2020 election.

#5 Even the wealthy are cutting back on their spending.  According to Yahoo Finance, this is a continuation of a trend that we have been seeing for the past three quarters…

Spending by the top 10% fell 1% in the second quarter from the same period last year, according to an analysis of Federal Reserve data by Moody’s Analytics. And a four-quarter average of outlays by the high earners has slipped on an annual basis the past three quarters, marking the first such declines since the Great Recession of 2007-09.

In recent years, global central banks have engaged in unprecedented intervention in an attempt to stave off another crisis, and for a while their efforts appeared to be successful.

But just because the coming crisis was delayed does not mean that it was canceled.

In fact, over the past few years our long-term financial problems have actually gotten a lot worse.  We are facing the biggest debt bubble in the history of the planet, global financial markets are more primed for a crash than they have ever been before, and civil unrest is breaking out all over the world.  The stage is certainly set for “the perfect storm” that I keep talking about, and most Americans have absolutely no idea what is coming.

In all the time that I have been writing about the global economy, things have never looked more ominous then they do right now.

So buckle up and hold on tight, because it certainly looks like we are in for a very bumpy ride in the months ahead.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End 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 have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.

The post 5 More Signs That The Global Economy Is Careening Toward A Recession appeared first on The Economic Collapse.

The holidays can be hard: cooking elaborate meals, facing frigid temperatures, making travel plans that please everyone.

Overspending, however, is too easy. In fact, about 48 million Americans are still paying off credit card debt from last holiday season, according to a NerdWallet survey conducted by The Harris Poll.

Sadly, some of those consumers will end up paying the credit card companies more than twice what those Christmas presents originally cost, and it can be exceedingly difficult to ever get ahead when you are trapped in a seemingly endless cycle of debt.

So why do people do it?

Well, according to one financial therapist many Americans are chasing an “emotional experience” this time of the year…

Gift-buying requires money, time and energy when you may already feel overwhelmed, says Los Angeles-based financial therapist Amanda Clayman. During the holidays, “we’re chasing a sort of emotional experience,” she says. Think: the love and happiness of a Hallmark movie.

But feelings of grief or longing may be more realistic. “This is a sad and lonely time for many people,” says Sarah Newcomb, behavioral economist for Morningstar. Shopping (for anything or everything) can be a convenient coping mechanism.

We want what we see on television, but what we see on television is not real.

In the end, many Americans leave the holiday season feeling deeply disappointed, because what they were chasing was just an illusion.

Yes, some wealthy families will literally have hundreds of presents under their Christmas trees this holiday season, but most American families are deeply struggling these days.

In fact, over two million of us are actually living without basic necessities such as “running water or indoor plumbing”.  The following comes from Daisy Luther…

A new report says that more than 2 million Americans in West Virginia, Alabama, Texas and the Navajo Nation Reservation in the Southwest are living without clean running water or indoor plumbing. They’re drinking from polluted streams. They’re carrying buckets of the same water home for washing. They’re urinating and defecating outside with no wastewater treatment.

The gap between the rich and the poor continues to grow, and at this point the wealthiest 0.1 percent of all Americans now have as much wealth as the poorest 90 percent of all Americans combined.

Let that sink in for a moment.

That is a recipe for societal disaster, and it is getting worse with each passing year.

A big reason for this is because the Federal Reserve has been artificially pumping up the financial markets, and on Monday stocks hit yet another all-time high…

The S&P 500 and Nasdaq Composite hit all-time closing highs as they rose 0.8% to 3,133.64 and 1.3% to 8,632.49, respectively. Both indexes also notched intraday records. The Dow Jones Industrial Average also had a record close, gaining 190.85 points, or 0.5% to 28,066.47.

President Donald Trump tweeted about the record, saying: “Enjoy!”

But what most Americans don’t understand is that 84 percent of all stock market wealth is owned by the wealthiest 10 percent of all Americans.

Of course the stock market bubble won’t last indefinitely.  We are already in an earnings recession, and that earnings recession is expected to continue in the fourth quarter…

Earnings in the S&P 500 index SPX, +0.75%  are now projected to decline 1.51% in the fourth quarter from the year before, according to a FactSet computation of analysts’ average forecasts for individual companies. An earnings recession is defined as two quarters or more of consecutive year-over-year declines, and earnings for S&P 500 components dipped in the first two quarters of 2019 and are all but certain to do so again in the third quarter — with nearly 95% of calendar third-quarter reports posted, earnings have dropped 2.34%, the biggest decline so far this year.

And about 75 percent of the time, an earnings recession leads into a full-blown recession for the economy as a whole…

Three-fourths (75%) of earnings recessions since World War II have morphed into economic recessions, said CFRA Chief Investment Strategist Sam Stovall, who told Market Watch that he has been “scratching his head” trying to reconcile analyst pessimism around earnings with continued stock-market rallies.

So the truth is that those that are celebrating what the stock market is doing are not likely to be celebrating for too much longer.

And every day we continue to get more bad news from the real economy.  For example, we just learned that the largest maker of truck engines in the United States will be laying off about 2,000 workers…

Those market trends are now impacting Cummins, a Columbus, Ind., manufacturer of heavy equipment. It’s the largest manufacturer of Class 8 truck engines, claiming a 38.3% market share in 2018 over competitors like Daimler and Volvo/Mack.

Cummins spokesperson Jon Mills confirmed to Business Insider that the company, which employs some 62,610 globally, will reduce its global workforce by about 2,000. Those layoffs will be complete by the first quarter of 2020, he said.

As a “perfect storm” overtakes America, many believe that this will be the last “normal” holiday season that Americans will be able to enjoy.

It has become exceedingly clear that very hard times are coming, and quite a few experts believe that the crisis that is ahead will be even worse than what we experienced in 2008.

So enjoy the time that you are able to spend with your family and friends over the coming weeks, because major changes are already starting to happen, and our nation will soon be dealing with one major headache after another.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End 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 have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.

The post Black Friday Is Coming, And 48 Million Americans Still Have Holiday Debt From Last Year appeared first on The Economic Collapse.

Let me start my analysis by discussing how U.S. consumers are doing right now.  According to CBS News, a major new study that was just released found that 70 percent of all Americans are struggling financially…

Many Americans remain in precarious financial shape even as the economy continues to grow, with 7 of 10 saying they struggling with at least one aspect of financial stability, such as paying bills or saving money.

The findings come from a survey of more than 5,400 Americans from the Financial Health Network, a nonprofit financial services consultancy. The project, which started a year ago, is aimed at assessing people’s financial health by asking about debt, savings, bills and wages, among other issues.

That sure doesn’t sound like a “booming economy”, does it?

And even though things are already really tough for millions upon millions of American families, it appears that things are rapidly getting worse.  In fact, we just witnessed the largest decline for the Bloomberg Consumer Comfort Index since 2008…

Despite stocks soaring to record highs, The Bloomberg Consumer Comfort index fell last week to 58.0 from 59.1 a week earlier, and has now plunged 5.4 points in three weeks, the biggest such drop since 2008…

Yes, the employment situation in this country is still relatively stable for the moment, but the truth is that most of the “jobs” that have been “created” in recent years actually pay very little.  If you can believe it, 58 million jobs in the United States currently pay less than $793 a week…

There are now roughly 105 million production and nonsupervisory jobs in the U.S. That’s 83 percent of all private sector jobs. And more than half of them — 58 million — pay less than the average weekly U.S. wage of $793. Many of these jobs don’t offer health care or other benefits.

These are the best jobs that many Americans can find and the most hours they can get.

And I discussed in a previous article, 50 percent of all U.S. workers currently make less than $33,000 a year.

In recent years, many families have increasingly turned to debt in order to maintain their “middle class lifestyles”, but now a lot of those debts are starting to go bad.

In fact, the New York Fed just announced that serious auto loan delinquencies in the United States have hit a brand new record high.  The following comes from Wolf Richter…

Serious auto-loan delinquencies – auto loans that are 90 days or more past due – in the third quarter of 2019, after an amazing trajectory, reached a historic high of $62 billion, according to data from the New York Fed today

Do you remember the subprime mortgage meltdown of 2008?

Well, a very similar thing is happening right now with auto loans.

Meanwhile, the bad economic numbers just keep rolling in.  Here are a few new data points that we have gotten since my last article…

-We just witnessed the worst decline for U.S. industrial production since 2009.

-The Cass Freight Index has just fallen for the 11th month in a row.

-Sears has announced that they will be laying off hundreds of workers as they continue to close stores at a very rapid pace.

At this point, it is going to be a real challenge to keep U.S. GDP growth above zero for the fourth quarter.  If you can believe it, the latest forecast from the Atlanta Fed is projecting a fourth quarter growth rate of just 0.3 percent…

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 0.3 percent on November 15, down from 1.0 percent on November 8. After this morning’s retail trade releases from the U.S. Census Bureau, and this morning’s industrial production report from the Federal Reserve Board of Governors, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth decreased from 2.1 percent and -2.3 percent, respectively, to 1.7 percent and -4.4 percent, respectively.

That is terrible.

We aren’t talking about 3 percent.  They are projecting growth of “0.3 percent”, and if we slip below zero we could actually be in the beginning of a recession right now without even realizing it yet.

The Federal Reserve has been attempting to bolster the economy by cutting interest rates and by pumping massive amounts of money into the financial system.  They are telling us that this new round of money creation is “not QE”, but from the very beginning I have been pointing out that it really is more quantitative easing, and many in the financial world are starting to acknowledge this reality…

After a month of constant verbal gymnastics (and diarrhea from financial pundit sycophants who can’t think creatively or originally and merely parrot their echo chamber in hopes of likes/retweets) by the Fed that the recent launch of $60 billion in T-Bill purchases is anything but QE (whatever you do, don’t call it “QE 4”, just call it “NOT QE” please), one bank finally had the guts to say what was so obvious to anyone who isn’t challenged by simple logic: the Fed’s “NOT QE” is really “QE.”

In a note warning that the Fed’s latest purchase program – whether one calls it QE or NOT QE – will have big, potentially catastrophic costs, Bank of America’s Ralph Axel writes that in the aftermath of the Fed’s new program of T-bill purchases to increase the amount of reserves in the banking system, the Fed made an effort to repeatedly inform markets that this is not a new round of quantitative easing, and yet as the BofA strategist notes, “in important ways it is similar.”

But as I discussed earlier, all of the Fed’s efforts are not working.

No matter how hard they try, they have not been able to reverse our economic momentum.

And many people believe that what we have seen so far is just the tip of the iceberg.  In fact, trends forecaster Gerald Celente is convinced that we are heading for “the Greatest Depression”…

You think you have a crisis in a country near you now? You haven’t seen anything. When the Greatest Depression hits, people are going to be escaping violence, poverty, corruption — civil wars are happening in front of everybody’s eyes. And you think you’ve got a homeless problem in a city near you? You haven’t seen anything. You are going to see homeless everywhere. This is out of control and it’s going to only get worse as the global economy slows down…

And you know what?

He’s right.

What is coming is going to make 2008 look like a Sunday picnic, and our society is completely and utterly unprepared for what is about to happen.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End 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 have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.

The post Brace For Impact! The U.S. Economy Is Going Down, And It Is Going Down Hard… appeared first on The Economic Collapse.

At this point things are so bad that even Fed Chair Jerome Powell is warning Congress that the national debt is a major problem…

Federal Reserve Chairman Jerome Powell warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”

Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

When a major downturn hits the U.S. economy, the federal government is not going to be able to do much because we are already spending money at emergency levels.

Of course Powell shouldn’t exactly be criticizing Congress, because the Fed has already been using up all of their ammunition too.

So when the next recession officially arrives, the amount of intervention that will be possible will be very limited.

Since Barack Obama’s inauguration, we have been adding an average of more than a trillion dollars to the national debt every year.  That is utter insanity, but it has helped the economy in the short-term.

When the federal government borrows money that it does not have and spends it into the economy, that boosts economic activity.  But at the same time it makes our long-term financial problems even worse.

If we were to go back and remove from the economy the 12.4 trillion dollars that the federal government added to our national debt since Obama’s inauguration, we would be in the deepest economic depression in American history right now.

So all of that reckless spending has kept us from economic disaster, but it has set the stage for something even worse when this bubble finally bursts.

In October, the federal government’s budget deficit for the month was $134.5 billion.  That was 34 percent higher than for the same month a year earlier.

I can’t even begin to describe how foolish this is.  The extreme negligence being committed by our politicians in Washington is mind blowing.

And this is just the beginning of our problems.  As our population ages, Social Security, Medicare and other entitlement programs are going to become rapidly more oppressive…

This is only going to get worse. According to Census Bureau projections, by 2030 each 100 working-age Americans will be supporting 35 retirees, and this could rise to 42 by 2060. Another way to think of this is to calculate the number of retirees each worker must support. In 1946, the burden of one retiree was shared between 42 workers. Today, according to the SSA, roughly three workers cover each retiree’s Social Security and Medicare benefits. By 2030, however, there will be only two workers supporting each retiree.

So where are we going to get the money that we need to support those programs?

Of course we aren’t actually going to make it to 2060.  Our entire system will implode long before then.

Consumers have also been on a tremendous debt binge in recent years, and we just learned that total U.S. household debt is about to cross the 14 trillion dollar mark…

Americans increased their borrowing for the 21st straight quarter as more households took out loans to buy homes or refinance existing mortgages, according to a report released today from the Federal Reserve Bank of New York.

Total U.S. household debt rose $92 billion, or 0.7%, to $13.95 trillion in the third quarter, the New York Fed’s quarterly household credit and debt report showed.

We are in the final stages of the biggest debt bubble in the history of the world, and most of us realize that this chapter in our history is going to end very badly.

So why do we just keep making things worse?

Of course it isn’t just the United States that is drowning in debt.  According to the IMF, total global debt has now reached the 188 trillion dollar mark…

The global debt crisis has reached epic and historical proportions.  It’s now $188 trillion, which is more than double the entire economic output of the entire planet.

The global debt load has surged to a new record of around 230% of the world’s output, IMF chief Kristalina Georgieva said according to a report by the Daily Mail.  The entire globe’s economic stability is hanging by a thread, and this news makes that thread appear just a little thinner.

Most people don’t understand that the global financial system has literally been designed to create as much debt as possible.  But once you grasp this, it shouldn’t actually be a surprise that we are now 188 trillion dollars in debt.  The system is simply doing what it was intended to do.  For much more on this, please see my previous article entitled “Global Debt Is Up To $188,000,000,000,000 – This Is Officially The Biggest Debt Bubble The World Has Ever Seen”.

For decades, we have been ignoring the future consequences of running up so much debt, but at some point time is going to run out.

In a recent article, Ron Paul put it this way…

Even though the federal deficit is already over one trillion dollars (and growing), President Trump and Congress have no interest in cutting spending, especially in an election year. Should he win reelection, President Trump is unlikely to reverse course and champion fiscal restraint. Instead, he will likely take his victory as a sign that the people support big federal budgets and huge deficits. None of the leading Democratic candidates are even pretending to care about the deficit. Instead they are proposing increasing spending by trillions on new government programs.

Joseph Zidle, a strategist with the Blackstone investment firm, has called the government — or “sovereign” — debt bubble the “mother of all bubbles.” When the sovereign debt bubble inevitably busts, it will cause a meltdown bigger than the 2008 crash.

As usual, Ron Paul is right on the mark.

And actually “a meltdown bigger than the 2008 crash” would be a best case scenario.

Ultimately, it is extremely doubtful that we are going to be able to survive what is going to happen to us once this bubble completely bursts.

The Republic that previous generations of Americans sacrificed so much to build is being systematically destroyed, and it is our own greed that is doing it.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End 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 have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.

The post The U.S. National Debt Just Hit The 23 Trillion Dollar Mark As We Continue To Steamroll Toward Financial Oblivion appeared first on The Economic Collapse.

At this point, we shouldn’t expect the Democrats to show any concern for our skyrocketing national debt.  During the Obama years the national debt increased by an average of more than a trillion dollars a year, and this unprecedented spending helped to stabilize the U.S. economy following the Great Recession.

However, if we could go back and remove the 9.3 trillion dollars that was added to the national debt during Obama’s time in office, those eight years would have been the worst eight years economically in the history of our nation.  We borrowed mountains of money from the future in order to make the present more pleasant, but in the process we literally destroyed the bright future our children and our grandchildren were supposed to have.

Of course most Americans don’t understand any of this, and many people look back on “Obama’s economy” with great fondness.

But isn’t Trump essentially doing the same thing?

Of course he is.

Just like Obama, Trump doesn’t want to preside over “a second Great Depression”, and so he is perfectly fine with taking our national debt into the stratosphere.  If we tried to live within our means and only spent the money that we actually brought in, the U.S. economy would immediately collapse.  And if the U.S. economy fell to pieces, Trump would have no chance of winning again in 2020, and we all know that Trump desperately wants to win the next election.

In the old days there were at least some Republicans that actually seemed to care about our financial future.  The Republican Party was supposedly “the party of fiscal responsibility”, and a big driver of the Tea Party movement was concern about the size of our national debt.

But these days very, very few Republican leaders are making a peep about our rapidly growing mountain of debt.  Instead, most of them seem absolutely fine with the fact that we are literally destroying ourselves financially.

This is yet another example that shows that there really is not that much of a difference between the two political parties at this point.  One may want to take us down the tubes a little faster than the other one, but the final destination is still the same.

I would love to hear any Republican voter make a rational defense for what we are witnessing right now.  According to the Congressional Budget Office, the federal budget deficit was 984 billion dollars during the fiscal year which just ended on September 30th…

The federal budget deficit for 2019 is estimated at $984 billion, a hefty 4.7 percent of gross domestic product (GDP) and the highest since 2012, the Congressional Budget Office (CBO) said on Monday.

The deficit was 205 billion dollars bigger than the previous fiscal year, and overall that represented an increase of 26 percent in just one year.

Of course the official “budget deficit” is a bit misleading, because it actually understates the amount by which our national debt increases.

According to official U.S. Treasury numbers, our national debt actually increased by 1.113 trillion dollars during the fiscal year that just ended.

Adding more than a trillion dollars to the national debt in a single year is certainly not “conservative”.

Can anybody out there possibly defend such recklessness?

If you think you can, please feel free to give it a shot.  Sadly, the truth is that all of our politicians that have supported such irresponsible spending should be completely and utterly ashamed of themselves.  What they are doing to future generations of Americans is beyond criminal, and if future generations of Americans get the chance they will look back and curse us for what we have done to them.

As our founders understood very well, government debt is a way for one generation to literally steal money from future generations.  And as Jason Pye has noted, our “unsustainable situation is only going to get worse”…

“Democrats and Republicans must be held responsible for the outrageous deficit reported today by the CBO,” said Jason Pye, vice president of legislative affairs at the conservative advocacy group FreedomWorks.

“This unsustainable situation is only going to get worse,” he added.

Unfortunately, there really isn’t anything to be done at this point.  Now that fiscal irresponsibility has become the official position of both major political parties, all that we can really hope for is that the coming financial implosion will be put off for as long as possible.

In the short-term, the Federal Reserve will undoubtedly attempt to stabilize things.  In recent days they have begun to start wildly printing money once again.  They aren’t calling it “quantitative easing”, but that is essentially what is going on.  The Fed balance sheet is beginning to rise at an exponential pace, and this “emergency intervention” that they are conducting is starting to look more permanent with each passing day.

Sadly, it is just another indication that our financial sins are starting to catch up with us.  Previous generations handed us the keys to the most powerful economy in the history of the planet, but that wasn’t good enough for us.  We always had to have more, and in our endless greed we have created the largest debt bubble in the history of the world.

Now we stand on the brink of oblivion, and yet our addiction to debt is so strong that we just can’t help ourselves.

There is no way that this story is going to end well, but even at this late hour most Americans still don’t realize what is coming.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep.  I am the publisher of The Economic Collapse Blog, End 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 have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters.  (#CommissionsEarned)  By purchasing those books you help to support my work.  I always freely and happily allow others to republish my articles in written form on their own websites as long as this “About the Author” section is included.  In order to comply with government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished.  This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate.  You can follow me on social media on Facebook and Twitter.  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.  Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of this website.

The post America’s Financial Suicide: The Budget Deficit Rises 26% In 1 Year As Federal Spending Spirals Wildly Out Of Control appeared first on The Economic Collapse.

My father was a math teacher for many years, and so I like numbers.

I divided $72,000,000,000,000 by the current population of the United States (Google says it is 327.2 million), and I discovered that it breaks down to more than $220,000 for every man, woman and child in the entire country.

So if you have a family of four, your share of all this debt is $880,000.

This debt bubble has been growing much, much faster than the overall economy for a very long time.  When Ronald Reagan took office the total amount of debt in our system was less than 5 trillion dollars, and when George W. Bush took office the total amount of debt in our system was just over 29 trillion dollars.

Just prior to the last financial crisis we surpassed the 54 trillion dollar mark, and so since that time we have added nearly 18 trillion dollars to our total.

Of course all of this debt will never actually be paid off.  The only thing left to do is to keep this debt bubble going for as long as possible, and the only way to do that is to keep it growing at a faster pace than the overall economy is growing.

And our financial engineers have definitely been successful in extending this Ponzi scheme for a lot longer than many of us had anticipated, but they can’t keep doing this indefinitely.

Every financial bubble in history has eventually ended, and this one will too.  I really like what Charles Hugh Smith had to say to Greg Hunter just the other day…

Journalist and book author Charles Hugh Smith says the next market crash and recession will unfold like the bursting of the 2000 Dotcom bubble. Smith explains, “The bubble popped or deflated not for any crisis, but simply because there was too much debt, too much leverage, too much euphoria and unrealistic valuations. I think we are seeing that now in stocks, housing and a lot of other assets around the world. The valuations just exceed what makes financial sense. . . . And remember, we are at the longest expansion in history. It’s over 10 years, and the average expansion lasts 5, 6 or 7 years. So, this expansion is pretty long in tooth. . . . You will get a slowdown, and that is a self-reinforcing feedback loop. Once people stop buying houses and once people stop buying cars . . . then you are going to get people being laid off, less people being able to afford to eat out, and then you get a self-reinforcing recession. It’s not a crisis, but like an erosion because everybody is kind of tapped out.”

In the end, nobody can “fix” our system, because our debt-based financial system was fundamentally flawed when it was designed.  This is something that I have repeatedly pointed out, but unfortunately most Americans still don’t seem to understand this very basic concept.

If you have a financial system that is literally designed to endlessly create more debt, more money and more inflation, then you are living in a “bubble economy”.

And a “bubble economy” can seem fine as long as the bubble is inflating and economic activity seems to be humming along, but when things start to go bad they can go really, really bad very rapidly.

Individually, there is very little that we can do about our national debt, state and local government debt or corporate debt.  We can try to vote people into office that want to do the right thing, but unfortunately fiscal responsibility and financial reform are not hot button political issues right now.

But what we can do is get our own financial houses in order.  Now is not the time to take on more debt, and paying off any debt that you have already accumulated would be a very good thing.  This is something that Mac Slavo commented on in one of his recent articles…

The real truth that no one seems to want to hear, is that those who took out these loans signed on the line and voluntarily entered into a contract.  If they didn’t understand the contract, it’s their responsibility (a big scary word) to ask or seek clarity before the agreement is made and signed. That’s called personal responsibility for your actions.  However, it’s lacking all over the globe, but particularly in the United States where people are always looking to blame others for their poor decisions that they themselves have made. “Blame the rich for my decision to go into debt and agree to bad terms!”

The debt crisis the U.S. has found itself in could very well cause another recession such as the one that started in 2008. This is exactly why personal wealth gurus such as Dave Ramsey and Future Money Trends‘ James Davis tell people to avoid debt if at all possible. Doing so will protect you when others start to default on their loans.  You can’t default if you haven’t borrowed money. It also won’t matter what type of predatory loans exist if people aren’t borrowing that money. Personal responsibility could help lead to more freedom. If people are not free to make bad decisions as well as good decisions, people are not free.

As for the nation as a whole, we can only hope that there is as much time as possible before the inevitable implosion comes.

For decades we have been making exceedingly foolish decisions, and the consequences of those decisions are going to be exceedingly painful indeed.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.

The post $220,000 For Every Man, Woman And Child – America Is Now 72 Trillion Dollars In Debt appeared first on The Economic Collapse.

Very briefly, let’s review some of the reasons why we should expect to see the employment numbers get worse.  As the economy slows down, goods begin to pile up in our warehouses, and that is precisely what the numbers show.  In fact, the inventory to sales ratio in the U.S. has now increased for five months in a row.

Fewer sales should result in less stuff being shipped around the nation by freight, rail and air, and this is yet another thing that we see happening right now.  Overall, U.S. freight shipment volume has dropped for three months in a row.

Once businesses realize that economic conditions have changed, then they start reducing the number of job openings and laying off workers.  That is why employment statistics are often referred to as “trailing indicators”.  The employment numbers don’t usually start to go down until other indicators start dropping first.

And without a doubt, the employment numbers are starting to move.  Continuing jobless claims have been rising at the most rapid pace in 10 years, and U.S. businesses have been adding jobs at the slowest pace in 18 months.

With all of that in mind, we should not be surprised at all by this latest number…

Job openings, a measure of labor demand, tumbled by 538,000 to a seasonally adjusted 7.1 million, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS, report on Tuesday. The drop was the biggest since August 2015.

That is a really dreadful number, and there is no way to spin it to make it look good.

One factor that is shifting the employment environment is all of the minimum wage laws that are being passed around the country.

A number of liberal enclaves have raised the minimum wage to 15 dollars an hour, and as a result a lot of small businesses have been forced to let workers go…

In what has become just one more example of government intervention going the exact opposite of what socialists intend, minimum wage laws are driving a “payroll tsunami.”  Small businesses are being forced to lay off workers in order to comply with a law demanding an increase in wages.

This isn’t all that surprising. Economists, small business owners, and other analysts have said that the net result of higher wages is a loss of jobs. And small businesses, who don’t have the capital or return that large corporations do, are feeling the proverbial pinch. According to Fox News, several mom-and-pop coffee shops and restaurants, are responding by cutting hours, eliminating jobs or closing down entirely because they can’t keep up with rising wages under the law.

My very first job was flipping burgers for McDonald’s, and I made $3.35 an hour doing it.  As a teenager, I was grateful to have such a job, but now such minimum wage jobs are in danger.  Wal-Mart and other major corporations are already making extensive use of robots to perform basic tasks, and making human workers more expensive is going to hurt those at the bottom of the economic food chain the most.

But for the moment, things are still relatively stable.  Most Americans still seem to believe that the bubble of debt-fueled economic “prosperity” that we are currently enjoying is going to continue for the foreseeable future, and they are spending money as if tomorrow will never come.

According to Zero Hedge, U.S. consumer credit has now surged past the 4 trillion dollar mark…

After a few months of wild swings in mid 2018, in February US consumer credit continued to normalize, rising by $15.2 billion, slightly below the $17 billion expected, following January’s $17.7 billion increase. The continued increase in borrowings saw total credit storm above $4 trillion, and hit a new all time high of $4.045 trillion on the back of a America’s ongoing love affair with auto and student loans, and of course credit cards.

We better hope that the U.S. economy is able to pull out of this new slowdown, because most of us are living right on the edge financially.

Sadly, we never seem to learn.  The same mistakes that we made last time around are all happening again, and Americans are completely and totally unprepared for what is coming.

And the warnings are all around us.  On Tuesday, the IMF downgraded their forecast for global economic growth for the third time in six months.  Commenting on this downgrade, IMF executive director Christine Lagarde noted that this is a “delicate moment” for the global economy…

Christine Lagarde, the IMF’s executive director, said the global economy is in a “delicate moment.”

“Only two years ago, 75% of the global economy experienced an upswing,” Lagarde said, according to the text of a speech she’s due to give at the US Chamber of Commerce. “For this year, we expect 70% of the global economy to experience a slowdown in growth.”

It is not often that I agree with a globalist like Christine Lagarde, but she is quite right in saying that this is a “delicate moment”.

Global economic numbers have not been this bad since the last financial crisis, and many believe that we have now reached a major turning point.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.

The post Uh Oh: The Number Of Job Openings In The U.S. Dropped By More Than Half A Million In Just One Month appeared first on The Economic Collapse.

As long as we are drawing breath, there is always an opportunity to turn things around.  That is true for individuals, and it is also true for our entire nation.  But if we continue running toward evil, it is only a matter of time before exceedingly painful consequences overtake us.

The following are 40 facts that prove that America’s moral collapse is spinning wildly out of control…

#1 America has killed more than 60 million children since Roe v. Wade was decided in 1973.  The federal government endorses this activity by heavily funding the country’s leading abortion provider, and after that abortion provider harvests the organs of the dead children, the federal government also heavily funds the research that is conducted on those harvested organs.

#2 According to a Quinnipiac University poll from last year, 63 percent of all Americans want to keep Roe v. Wade in place.

#3 America is a global leader in sexual depravity.  If you doubt this, just check out what is going on in Cleveland at the end of this month.

#4 Americans are now more likely to die from an opioid overdose than they are from a car accident.

#5 In the city of Baltimore, approximately one out of every four babies is born as an opioid addict.

#6 Overdosing on drugs has now become the leading cause of death for Americans under the age of 50.

#7 McDonalds feeds approximately 70 million people a day globally. Pornhub gets more than 78 million visits a day.

#8 The teen birth rate in the United States is higher “than in any other industrialized country in the world”.

#9 According to the CDC, approximately 110 million Americans have a sexually-transmitted disease right now.

#10 The CDC also tells us that there are approximately 20 million new sexually transmitted disease cases in the U.S. every single year.

#11 The number of married couples with children in the U.S. just reached a 56 year low.

#12 According to the United Nations Population Fund, 40 percent of all births in the U.S. now happen outside of marriage. But if you go back to 1970, that figure was sitting at just 10 percent.

#13 At this point, approximately one out of every three children in the United States lives in a home without a father.

#14 Approximately one-fourth of the entire global prison population is in the United States.

#15 By the time an American child reaches the age of 18, that child will have seen approximately 40,000 murders on television.

#16 According to a study conducted by the Mayo Clinic, nearly 70 percent of all Americans are on at least one prescription drug.  An astounding 20 percent of all Americans are on at least five prescription drugs.

#17 According to the Centers for Disease Control and Prevention, doctors in the United States write more than 250 million prescriptions for antidepressants each year.

#18 Over half a million people are homeless in the United States right now, but more cities than ever are passing laws making it illegal to feed them.

#19 One recent study found that the average American spends 86 hours a month on a cell phone.

#20 A different study found that one-third of all American teenagers haven’t read a single book in the past year.

#21 Americans are obsessed with material things and are willing to go deep into debt to get what they want.  At this point, 480 million credit cards are in circulation in this country. That number has risen by nearly 13 percent since 2015.

#22 37 million credit card accounts in the U.S. are “seriously delinquent” at this moment.

#23 According to a study conducted by the Centers for Disease Control and Prevention, approximately two-thirds of all Americans in the 15 to 24-year-old age bracket have engaged in oral sex.

#24 It has been reported that one out of every four teen girls in the U.S. has at least one sexually transmitted disease.

#25 It has been estimated that 30 percent of all Internet traffic now goes to adult websites.

#26 According to the Pentagon, 71 percent of our young adults are ineligible to serve in the U.S. military because they are either too dumb, too fat or have a criminal background.

#27 The city of San Francisco handed out a total of 5.8 million free syringes to drug addicts in 2018.

#28 During one seven day stretch last summer, a total of 16,000 official complaints were submitted to the city of San Francisco about piles of human feces littering the streets.

#29 When you include unfunded liabilities, the true size of our national debt is 222 trillion dollars.  What we are doing to future generations of Americans is beyond criminal.

#30 The suicide rate in the United States is up 34 percent since the year 2000.

#31 Suicide is now the second leading cause of death for Americans from age 15 to age 24.

#32 We are literally destroying the planet that we have been given.  It is being projected that the total amount of plastic in the oceans of the world will exceed the total weight of all fish by the year 2050.

#33 There are more than 850,000 registered sex offenders in the United States today.

#34 The number of American babies killed by abortion each year is roughly equal to the number of U.S. military deaths that have occurred in all of the wars that the United States has ever been involved in combined.

#35 About one-third of all American women will have had an abortion by the age of 45.

#36 Approximately 3,000 Americans lost their lives as a result of the destruction of the World Trade Center towers on 9/11.  Every single day, more than 3,000 American babies are killed by abortion when you include all forms of abortion.

#37 One very shocking study found that 86 percent of all abortions are done for the sake of convenience.

#38 An average of more than 100 churches are dying in the United States every single week.

#39 Only about 27 percent of all U.S. Millennials currently attend church on a regular basis.

#40 The number of Americans with “no religion” has increased by 266 percent over the last three decades.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.

The post 40 Facts That Prove That America’s Moral Collapse Is Spinning Wildly Out Of Control appeared first on The Economic Collapse.

If you still think that the economy is in “good shape”, please read over the following list very carefully.

The following are 14 very alarming numbers that reveal the true state of the economy…

#1 Continuing jobless claims are rising at the fastest pace in 10 years.

#2 U.S. businesses are adding jobs at the slowest pace in 18 months.

#3 General Motors, Ford, Nissan and Fiat Chrysler all reported sales declines of at least 5 percent on a year over year basis in March.

#4 Tesla vehicle deliveries were down a whopping 31 percent during the first quarter of 2019.

#5 U.S. consumer confidence fell more than 7 points in March.

#6 Manhattan real estate sales have now fallen for six straight quarters.  That is the longest losing streak in 30 years.

#7 London real estate sales just dropped by the most we have seen in 10 years.

#8 The owner of Kay, Zales and Jared jewelers just announced that they will be closing 150 stores.

#9 Retail layoffs are 92 percent higher than they were at this time last year.

#10 U.S. freight shipment volume has fallen for three months in a row.

#11 The inventory to sales ratio in the United States has risen sharply for five months in a row.

#12 At this point, almost half of all renters in America spend more than 30 percent of their incomes on rent.

#13 The real median net income for Minnesota farmers was only $26,055 in 2018, and that was before many of them were absolutely devastated by the recent flooding.

#14 Overall, U.S. economic numbers are off to their worst start for a year since 2008.

We didn’t see economic numbers like this last year.

But now things have clearly changed.  It is starting to feel more like 2008 with each passing day, and this is a point that Mac Slavo made in his most recent article…

The signs of yet another economic recession are everywhere. In fact, it seems hard to find any positive economic news anymore, even though a mere few months ago, it was difficult to find a report signaling the United States might be headed for some turmoil.

These days, many people get offended at the thought that the U.S. economy is heading for trouble.  But the truth is that we have been heading for trouble for a very long time.

Our economy is built on a foundation of sand.  More specifically, we have borrowed our way into “prosperity”.

The other day, I wrote an article about our $22,000,000,000,000 national debt.  It is the biggest single debt in the history of the world, and we continue to add to it at a rate that is absolutely insane.  In fact, our 234 billion dollar deficit in February broke the all-time record for a single month.  If we continue to do this, there is no way that our story ends well.

But that 22 trillion dollar debt is only a fraction of our overall debt.

When you add up all forms of debt in the United States, it comes to a grand total of more than 72 trillion dollars.  And that doesn’t even include a single dollar of our unfunded liabilities on the federal, state and local level.

When Ronald Reagan took office, the total amount of debt in the U.S. was less than 5 trillion dollars.

When historians look back on this time in history, they will not be surprised that our society ultimately collapsed.  What will surprise them is that it took so long for it to do so.

Sometimes I get criticized for urging people to get prepared.  But those that really deserve the criticism are those that are assuring everyone that everything is going to be just fine.  If we got the smartest minds in the entire country together and treated this like a major national emergency, perhaps we could find a way to engineer some sort of a soft landing when this debt bubble bursts.

But as it stands, there is no plan and our long-term problems get worse with each passing day.  Our economy is headed for a crash of epic proportions, and it isn’t going to matter who is in power in Washington when it happens.

And at the rate that our economy is currently slowing down, America may become an economic horror show a lot sooner than many people had anticipated.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.

The post Economic Slowdown Confirmed: Here Are 14 Very Alarming Numbers That Reveal The Current State Of The Economy appeared first on The Economic Collapse.

Citing a more modest outlook for the economy, the Federal Reserve on Wednesday held interest rates steady and signaled it did not plan to raise rates at all this year and would bump them up just once in 2020, providing a road map for a sustained period of easy-money policy.

“The U.S. economy is in a good place,” Fed Chairman Jerome Powell said at a news conference, adding policymakers foresee “a modest slowdown, with overall conditions remaining favorable. We see no need to rush to judgment (by lifting or cutting rates).”

Admittedly, he did only say that it would be a “modest slowdown”, and so to most people that won’t sound that bad.

But this is the very first time that Powell has talked like this, and the truth is that the Atlanta Fed’s GDPNow model is currently forecasting that U.S. growth in the first quarter will be less than half a percent.  Fed officials are hoping that growth will be better in the second quarter, but there is also a very strong possibility that the economy will continue to decelerate.

Because the economy is entering a “slowdown”, the Federal Reserve announced on Wednesday that it does not anticipate any more interest rate hikes for the rest of the year.

Normally Wall Street would experience a huge surge of euphoria upon hearing such news, but stocks were actually down on Wednesday…

The Dow Jones Industrial Average and S&P 500 closed lower on Wednesday after the Federal Reserve’s latest monetary-policy announcement dragged Treasury yields lower, pushing bank shares down.

Goldman Sachs led the 30-stock Dow to end the day down 141.71 points at 25,745.67. The S&P 500 closed 0.3 percent lower at 2,824.23. The Nasdaq Composite eked out a gain, closing 0.1 percent higher at 7,728.97.

This certainly could not have been the reaction that the Federal Reserve was hoping for.

Could it be possible that bad news for the U.S. economy is no longer good news for Wall Street?

Without a doubt, we are witnessing a huge wave of pessimism in the business community right now.  Yesterday, I noted that Federal Express is talking as if a global recession had already started, and other corporate leaders are making similar statements.

For example, just consider what the CEO of banking giant UBS just said…

The head of UBS was among the latest to blame the world’s backdrop for weaker-than-expected results. CEO Ermotti told a conference in London on Wednesday that it “one of the worst first-quarter environments in recent history,” Reuters reported. The Swiss bank slashed another $300 million from 2019 costs after revenue at its investment bank plunged. Investment banking conditions are among the toughest seen in years, especially outside the U.S., he said.

And the CFO of BMW told investors on Wednesday that BMW’s earnings may be exposed to “additional risks” from the global economy in the months ahead…

“Depending on how conditions develop, our guidance may be subject to additional risks; in particular, the risk of a no-deal Brexit and ongoing developments in international trade policy,” CFO Nicolas Peter said in BMW’s quarterly earnings report Wednesday.

Last, but certainly not least, the co-CEO of Samsung just said that his company is anticipating “slowing growth in major economies” for the remainder of 2019…

“We are expecting many difficulties this year such as slowing growth in major economies and risks over global trade conflicts,” Samsung Co-Chief Executive Kinam Kim said.

Here in the United States, whoever is in the White House at the time usually gets most of the credit or most of the blame for how the economy is performing.

But the truth is that President Trump did not create the financial bubble that caused the boom on Wall Street.

The Federal Reserve did.

And President Trump is not going to be responsible when that bubble bursts either.

The Federal Reserve has far, far more control over the performance of the U.S. economy than either the president or Congress does.  And since the Federal Reserve was initially created in 1913, there have been 18 distinct recessions and/or depressions, and now we are heading into the 19th one.

If we want to finally get off this economic roller coaster ride permanently, we need to abolish the Federal Reserve.  But this isn’t even part of the national political discussion at this point.

However, that could soon change.  In the aftermath of the financial crisis of 2008, we witnessed a huge backlash against the Federal Reserve system.  Eventually that backlash subsided, but now that we are entering a new crisis, perhaps it is time to start dusting off all of those old “End the Fed” signs.

About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.

The post The Chair Of The Federal Reserve Just Used The Term “Slowdown” To Describe What Is Happening To The U.S. Economy appeared first on The Economic Collapse.