The Economic Collapse Hits Home: Feeding America Says 1 Out Of 4 U.S. Children Could Suffer From Hunger By The End Of 2020

There are approximately 74 million children in the United States, and right now millions upon millions of them do not have enough to eat.  The economic collapse that has started in 2020 has been brutal for most of the nation, but it has hit children particularly hard.  If their parents lose their jobs, there is nothing that they can do except hope that government handouts and the kindness of others will be enough.  Unfortunately, way too often they are not enough, and at this point Feeding America is projecting that one out of every four children in America could suffer from hunger by the end of this calendar year

By the end of this year, more than 50 million people could experience food insecurity, according to Feeding America, the country’s largest hunger-relief organization. That’s one in six Americans and one in four children—nearly a 50 percent increase from 2019. A Northwestern University study in June found that food needs had doubled nationally, and tripled for households with children. The pandemic has laid bare how many people are one paycheck or medical bill away from hunger.

Prior to the pandemic, more than 20 million children were at least getting free or reduced price lunches at school.  When lockdowns force the closing of schools, that just makes the hunger crisis even worse

“There are 22 million children who even before this pandemic relied upon free and reduced lunch,” said Claire Babineaux-Fontenot, the CEO of Feeding America. “When you hear that schools are closed, not only does that mean that there are challenges for children with an education, but it also means lost meals.”

The good news is that the U.S. has a vast network of food banks all over the country, and they have been able to help more people than ever this year.

According to Feeding America, their food banks have “seen a 60 percent increase in demand” compared to last year.

But the bad news is that there simply is not going to be enough food if demand continues to soar in the months ahead.  In Alabama, demand at one food pantry has risen 20 percent just since last month…

In central Alabama, demand at the Grace Klein food pantry is up 20% since last month. “It could be the rumours of civil unrest or the rise in Covid cases driving demand, but people are living off this food,” said director Jenny Waltman. The pantry is currently serving about 12,000 people each week, compared with 2,500 a week before the pandemic. The 200 volunteers and staff are exhausted, said Waltman.

At one of Chicago’s most important food pantries, the amount of food given out is up 237 percent compared to last year, and the CEO of that facility says that the new lockdowns are causing demand to start to surge once again

In Chicago, the Lakeview pantry has provided groceries for 237% more people so far this year compared to 2019, with demand “ramping up again” after leveling off slightly over the summer, according to CEO Kellie O’Connell. “The pandemic has brought to light how normal wasn’t working for so many people, especially black and brown communities.”

And in California, the head of the Tulare County food bank says that “a food cliff is looming” because demand is becoming so intense…

In rural California, s at least one food bank braced for a “food cliff” that could leave it unable to serve clients heading into the new year.

“The food cliff is looming,” said Nicole Celaya, executive director of Tulare County FoodLink. “The food system hasn’t done a very good job of meeting the increased need. As COVID numbers continue to rise, it’s going to get worse.”

All over America people have been sleeping in their vehicles and waiting for hours just to get handouts from their local food banks.

If economic conditions continue to get even worse, many food banks will soon not have any hope of meeting the crushing demand.

Unfortunately, the truth is that economic conditions are getting worse with each passing day.  This new wave of lockdowns is causing more businesses to fail and forcing more layoffs, and that is going to mean that a whole lot more people will soon fall into poverty.

I don’t know why the politicians would want to institute more lockdowns after the immense damage that the first wave of lockdowns created.  Hundreds of thousands of businesses closed down for an extended period of time, and a significant percentage of them have never reopened

Other data from the University of California Santa Cruz shows the number of closures could be even higher, with more than 316,000 businesses closed between February and September, which puts the number of daily closures at 1,500 a day.

Meanwhile, the New York Post recently reported that Harvard-run database TrackTheRecovery.org showed 27.8% of small businesses in New York haven’t reopened their doors since January. In New Jersey, 31.2% remain closed. The national average, according to the database, is 29.8%.

Instead of heading for some sort of a “recovery”, now we are heading into a “dark winter” in which countless more businesses will be shuttered.

It is hard to imagine that the lines at the food banks could get even longer, but that appears to be exactly what we could be facing.

In fact, one recent survey found that over half of all U.S. households with children are “not very confident” that they will be able to buy the food that they need in the weeks ahead…

Looking ahead to the next four weeks, 56% of households with children nationwide are “not very confident” they will be able to afford needed food. Nine percent said they are “not at all confident.”

In Pennsylvania, 52% of households are “not very confident”; in New Jersey, the number is 55%.

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

We are entering a time when there is going to be such widespread economic despair, and we are all going to have to take care of one another if we hope to make it through this storm.

Decades of incredibly foolish decisions are catching up with our nation, and most Americans are completely and utterly unprepared for the very painful times which have now commenced.

***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.

They Shut Down America To Slow Down The Coronavirus, But In The Process They Killed The Economy

Will our economy ever be the same again?  At this moment, we are still in the midst of the most comprehensive nationwide shutdown in American history, and nobody knows when it will finally end.  The primary reason why governors all over the country issued “shelter-in-place” orders was because they wanted to “flatten the curve”, and this was done to keep millions of people from getting the virus all at once so that our hospitals would not be completely overwhelmed.  But these “shelter-in-place” orders are not going to completely end this pandemic.  In order to do that, a complete and total national “lockdown” would be needed, and that is not going to happen.  So the coronavirus is going to keep cycling through our population for an extended period of time until we get to the point where the vast majority of the population has built up immunity and the pandemic naturally burns itself out.  So in the end, the total number of people that will catch this virus will be about the same whether the “shelter-in-place” orders were issued or not.  But if the number of cases at any one time isn’t enough to overwhelm our medical resources, the overall death toll could potentially be less than it otherwise would have been.

In other words, these “shelter-in-place orders” are likely saving lives, but they are also killing the economy.

On April 3rd, it was announced that more than 6 million Americans had filed new claims for unemployment benefits the previous week, and I told my readers that we would probably never see a week like that ever again.

I was wrong.

This Thursday, it was announced that another 6.6 million Americans filed new claims for unemployment benefits during the previous week…

Another 6.6 million people filed for unemployment benefits last week, according to the US Department of Labor, as American workers continue to suffer from devastating job losses, furloughs and reduced hours during the coronavirus pandemic.

It was the second largest number of initial unemployment claims in history, since the Department of Labor started tracking the data in 1967.

Prior to this year, the all-time record for a single week was just 695,000.

So what we are witnessing right now is completely nuts.

Overall, a total of approximately 16.8 million Americans have filed new claims for unemployment benefits over the last 3 weeks

Altogether, about 16.8 million American workers, making up about 11% of the US labor force, have filed initial claims for jobless benefits in just the prior three weeks alone. About 7.5 million workers filed for their second week of benefits or more last week.

We already have more unemployed workers than we did at any point during the last recession, and it is only going to get worse with each passing week.

Meanwhile, other economic numbers have been absolutely abysmal as well.  National demand for gasoline has declined to the lowest level since 1968, and U.S. vehicle sales have plunged to levels that are absolutely catastrophic

For the whole month of March, total new vehicle sales plunged 37.9% year-over-year, with fleet sales (rental, commercial, and government) down 27.6% and retail sales down 40.5%. In terms of daily retail sales volume, according to estimates by Cox Automotive, early March sales had been well above the sales on the same day of the week, same week last year.

But by March 13, they were below the year-ago-level and then plunged. By April 1, they were down 71% from a year ago.

I am having difficulty finding the words to describe how bad those numbers are.

If things are this horrific already, what will happen if the U.S. stays shut down for another month or two?

With millions upon millions of Americans out of work and businesses all over the nation currently shuttered, rent payments are not being made on a scale that is unlike anything we have ever seen before.  The following comes from Zero Hedge

Previously we described that over 30% of US renters didn’t pay their April apartment rent as the fallout of coronavirus-induced mass unemployment claims continues to ripple across various key sectors. Despite that some tenants will receive temporary protection from evictions “by a patchwork of federal and local laws” the reality is that as unpaid rents pile up, so will mortgage defaults as landlords struggle to satisfy their obligations – which will in turn affect fixed-income investments backed by said mortgages.

On the commercial side, Bloomberg estimates that about $81 billion in commercial rent comes due on average each month, but of course this is anything but a typical month, resulting in “The delay of a sizable portion of that will put an enormous strain on the complex systems for financing real estate and highlight how quickly the pain caused by social distancing has spread,” as Bloomberg observes.

Domino after domino is going to fall, and the economic pain is going to be off the charts.

And with each passing week, the economic forecasts by the big banks just continue to get even worse.

At this point, JPMorgan is projecting that U.S. GDP will plunge at a 40 percent annualized rate during the second quarter

JPMorgan economists issued an even more dire forecast, now foreseeing a 40% decline in the nation’s gross domestic product for the second quarter and a surge in April’s unemployment rate to 20% with 25 million jobs lost.

In an earlier forecast, they said second-quarter GDP would be down 25%.

The only period in all of U.S. history when we witnessed anything that even comes close to resembling this was during the Great Depression of the 1930s.

Of course Congress has tried to help by passing several relief bills, but in many instances they aren’t working quite as anticipated.

For example, a loan program for small businesses was originally supposed to provide up to 2 million dollars in emergency help for each business, but there has been so much demand that loans are now being capped at $15,000

A federal disaster loan program offering up to $2 million in relief is now capping out at $15,000 — and is leaving some borrowers wondering if they’ll even get that.

The Economic Injury Disaster Loan program, an offshoot of the Small Business Administration’s emergency funds system, has faced an unprecedented number of requests amid the COVID-19 pandemic, and is having trouble keeping up and following through with promised loan amounts, The New York Times reports.

As this pandemic stretches on, it is probably inevitable that Congress will pass even more emergency measures, and needless to say the Federal Reserve is going completely bonkers when it comes to flooding the system with money.

Ultimately, what they are doing will create inflation like we have never seen before, but most Americans aren’t worrying about that right now.

What most Americans really want is to get back to work, but Dr. Anthony Fauci and other medical “experts” are warning that may not happen for some time.

The longer the economy is shut down, the deeper this economic downturn is going to become.  And we certainly don’t want it to get too much deeper, because the IMF is already warning that it looks like this economic downturn will be the worst since the Great Depression

The International Monetary Fund sees the world economy suffering its worst recession since the Great Depression this year, with emerging markets and low-income nations in Africa, Latin America and Asia at particularly high risk.

With half of the IMF’s 189 member countries seeking aid, the executive board has agreed to double access to its emergency financing to meet expected demand of about $100 billion, Managing Director Kristalina Georgieva said in a speech on Thursday.

Needless to say, I have been warning of an economic crisis of this magnitude for a very long time.

Let us hope that the “shelter-in-place” orders will be lifted as soon as possible, because that would certainly give the economy some relief.

But things will not be going back to “normal”.  COVID-19 will start spreading faster once again once the restrictions are lifted, and a large percentage of the population will remain huddled in their homes because they will be extremely afraid of catching the virus.

So economic activity will remain depressed for an extended period of time no matter what else happens, and meanwhile Congress and the Federal Reserve are absolutely flooding the system with fresh money.

That is a recipe for an inflationary disaster, and our standard of living will experience a very painful adjustment as a result.

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 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet 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. 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.  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 all many people as we possibly can.

These Very Alarming Numbers Show How People Are “Coping” With The Coronavirus Pandemic

It is during times of great crisis that we find out who we really are.  Now that strict “shelter-in-place” orders have been instituted all over the world, most people have a lot more free time than usual.  Of course some are using all of this extra free time for constructive purposes, but many others have decided that “self-medicating” is the best way to “cope” with this coronavirus pandemic.  When under great pressure, people tend to gravitate to whatever is most important to them, and that is why what we are witnessing during this pandemic is so alarming.  Just check out these new numbers

The virtual-sex trade has got a lift: Pornhub, the leading adult entertainment website, saw a near-12% increase in global traffic from Feb. 24 to March 17. British lingerie chain Ann Summers said sex toy sales were up 27% in the last week of March compared to the same period a year ago, with its quietest vibrator fast becoming its best seller.

Self-medicating is all the rage. U.S. states including California, Colorado, Oregon and Alaska where cannabis is legal have reported 50% sales increases from March 16 and March 22, according to Flowhub. Online booze sales in the United States rose 243% in the week ending March 21, according to market research firm Nielsen. Binge buying drove British alcohol sales up 22% in March, according to Kantar.

Of course some of the sales increases can be explained by the fact that people have been stocking up on just about everything in recent days.

At this point, most Americans have suddenly become “preppers”, and online grocery delivery services have been absolutely overwhelmed

As the crisis hit, delivery orders surged as millions of Americans stayed home. During the week of March 2, even before some cities and states imposed “stay at home” orders, Instacart, Amazon, and Walmart grocery delivery sales all jumped by at least two-thirds from the year before, according to Earnest Research. Instacart, a platform that partners with more than 25,000 stores in North America, says orders in more recent weeks have surged 150%.

As a result, customers in hard-hit New York City are waiting days to schedule deliveries that usually take just hours.

Needless to say, the law of supply and demand tells us that as demand for basic essentials goes up it is inevitable that prices will rise as well.

And we are already starting to see this.  In fact, it is being reported that the wholesale price of eggs has shot up 180 percent…

If you’re used to starting your day with coffee, orange juice, bacon, toast and some eggs, brace yourself – the price of wholesale eggs in the U.S. has skyrocketed to a shocking 180 percent from its regular price. And reports reveal that increased buying due to the coronavirus (COVID-19) pandemic is to blame.

As long as fear of the coronavirus persists there will continue to be more “panic buying”, and shortages will begin to emerge.

In fact, Johnson & Johnson is publicly admitting that there is already a serious shortage of Tylenol

A spokesperson for Johnson & Johnson, the makers of Tylenol, acknowledged the shortage and said the company is working to overcome it.

“We are experiencing record high demand for Tylenol, and despite our producing and shipping product at historic highs, we are experiencing a temporary shortage in some regions in the US,” said Kim Montagnino, Global Corporate Media Relations Senior Director. “We are committed to maintaining our increased production, including running lines up to 24/7 to maximize supply.”

And this may come as a surprise to many of you, but according to USA Today we are also facing a very serious shortage of webcams as well…

Logitech, the company that dominates webcam sales, is sold out of every one it makes. Amazon and Best Buy are out of stock. And price gougers on eBay are selling used models for as high as $420, or more than twice as much as the most expensive Logitech model, the $199 Brio.

“Global demand for webcams is needed from all remote workers, students and in the health care space,” notes analyst Jeremiah Owyang, who himself was able to snag a unit in early March, before they sold out.

With so many people working from home now, demand for webcams has spiked like never before, and it is unclear when they will be widely available again.

Now that most of the country has been locked down, economic activity has come to a standstill, and many Americans are starting to become very desperate for things to return to “normal”.

But even though most Americans are staying home, this virus continues to spread.

In New York City, nearly 20 percent of the entire police force was out sick on Monday…

On Monday, April 6, 2020, 6,974 uniformed members of the NYPD were on the department’s sick report which accounts for 19.3% of the uniformed workforce.

1,935 uniformed members and 293 civilian members of the NYPD have tested positive for the coronavirus.

And on Tuesday the death toll in New York City surged to the highest level yet even though a “shelter-in-place” order has been in place for quite some time now.

That is not good at all.

What makes this even more frightening is that the number of deaths in New York is actually being substantially undercounted because the only coronavirus victims that are included in the official death toll are those that were tested before they died

Only those tested before they die are counted as COVID-19 victims, a New York City councilman said Monday, sparking fears the actual death toll could be far higher than the 3,400 already recorded.

Mark Levine tweeted: ‘Now only those few who had a test confirmation *before* dying are marked as victims of coronavirus on their death certificate. This almost certainly means we are undercounting the total number of victims of this pandemic.’

So what is the true death toll?

We don’t really know, but what we do know is that the number of people “dying at home” in New York City is now close to 10 times higher than normal

But another 200 city residents are now dying at home each day, compared to 20 to 25 such deaths before the pandemic, said Aja Worthy-Davis, a spokeswoman for the medical examiner’s office. And an untold number of them are unconfirmed.

Overall, the number of confirmed deaths continues to rise all over the country at a very disturbing pace.

The very first confirmed death from the coronavirus in the United States was announced at the very end of February, and now just over a month later the numbers are really getting crazy

The number of Americans who have died from coronavirus has nearly doubled in the first week of April alone compared to last month’s entire death toll.

The death toll from the pandemic now stands at 11,000 with more than 368,000 confirmed infections across the United States.

Figures show the number of fatalities has increased drastically by 7,000 in the first six days of April.

Of course most people are assuming that this pandemic will eventually fade (true) and that life in America will soon return to normal (definitely not true at all).

We have entered a time when everything that can be shaken will be shaken, and our world will never be the same again.

Some will respond to adversity by becoming the best people that they can possibly become, while others will “cope” by wallowing in depression, despair and very self-destructive addictions.

You can’t control global events as they spin out of control, but you can control how you respond to them.

You were born for such a time as this, and I encourage all of you to embrace the great challenges that have now been put in front of us.

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 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet 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. 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.  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 all many people as we possibly can.

Worse Than 2008: We Are Being Warned That The Coronavirus Shutdown “Could Collapse The Mortgage Market”

The cascading failures that have been set into motion by this “coronavirus shutdown” are going to make the financial crisis of 2008 look like a Sunday picnic.  As you will see below, it is being estimated that unemployment in the U.S. is already higher than it was at any point during the last recession.  That means that millions of American workers no longer have paychecks coming in and won’t be able to pay their mortgages.  On top of that, the CARES Act actually requires all financial institutions to allow borrowers with government-backed mortgages to defer payments for an extended period of time.  Of course this is a recipe for disaster for mortgage lenders, and industry insiders are warning that we are literally on the verge of a “collapse” of the mortgage market.

Never before in our history have we seen a jump in unemployment like we just witnessed.  If you doubt this, just check out this incredible chart.

Millions upon millions of American workers are now facing a future with virtually no job prospects for the foreseeable future, and former Fed Chair Janet Yellen believes that the unemployment rate in the U.S. is already up to about 13 percent

Former Federal Reserve Chair Janet Yellen told CNBC on Monday the economy is in the throes of an “absolutely shocking” downturn that is not reflected yet in the current data.

If it were, she said, the unemployment rate probably would be as high as 13% while the overall economic contraction would be about 30%.

If Yellen’s estimate is accurate, that means that unemployment in this country is already significantly worse than it was at any point during the last recession.

And young adults are being hit particularly hard during this downturn…

As measures to slow the pandemic decimate jobs and threaten to plunge the economy into a deep recession, young adults such as Romero are disproportionately affected. An Axios-Harris survey conducted through March 30 showed that 31 percent of respondents ages 18 to 34 had either been laid off or put on temporary leave because of the outbreak, compared with 22 percent of those 35 to 49 and 15 percent of those 50 to 64.

As I have documented repeatedly over the past several years, most Americans were living paycheck to paycheck even during “the good times”, and so now that disaster has struck there will be millions upon millions of people that will not be able to pay their mortgages.

It is being projected that up to 30 percent of all mortgages could eventually default, and when you add the fact that millions upon millions of Americans will be deferring payments thanks to the CARES Act, it all adds up to big trouble for the mortgage industry

A broad coalition of mortgage and finance industry leaders on Saturday sent a plea to federal regulators, asking for desperately needed cash to keep the mortgage system running, as requests from borrowers for the federal mortgage forbearance program are pouring in at an alarming rate.

The Cares Act mandates that all borrowers with government-backed mortgages—about 62% of all first lien mortgages according to Urban Institute—be allowed to delay at least 90 days of monthly payments and possibly up to a year’s worth.

Needless to say, many in the mortgage industry are absolutely furious with the federal government for putting them into such a precarious position, and one industry insider is warning that we could soon see the “collapse” of the mortgage market

“Throwing this out there without showing evidence of hardship was an outrageous move, outrageous,” said David Stevens, who headed the Federal Housing Administration during the subprime mortgage crisis and is a former CEO of the Mortgage Bankers Association. “The administration made a huge mistake bringing moral hazard in and thrust extraordinary risk into the private sector that could collapse the mortgage market.”

Of course a lot of other industries are heading for immense pain as well.

At this point, even JPMorgan Chase CEO Jamie Dimon is admitting that the U.S. economy as a whole is plunging into a “bad recession”

Jamie Dimon said the U.S. economy is headed for a “bad recession” in the wake of the coronavirus pandemic, but this time around his company is not going to need a bailout. Instead, JPMorgan Chase is ready to lend a hand to struggling consumers and small businesses.

“At a minimum, we assume that it will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008,” Dimon, the CEO of JPMorgan Chase, said Monday in his annual letter to shareholders.

And the longer this coronavirus shutdown persists, the worse things will get for our economy.

In fact, economist Stephen Moore is actually predicting that we will be “facing a potential Great Depression scenario” if normal economic activity does not resume in a few weeks…

Sunday on New York AM 970 radio’s “The Cats Roundtable,” economist Stephen Moore weighed in on the potential impact of the coronavirus to the United States economy.

Moore warned the nation could be “facing a potential Great Depression scenario” if the United States stays on lockdown much past the beginning of May, as well as an additional amount of deaths caused by the raised unemployment rate.

The good news is that the “shelter-in-place” orders all over the globe appear to be “flattening the curve” at least to a certain extent.

The bad news is that we could see another huge explosion of cases and deaths once all of the restrictions are lifted.

And the really bad news is that what we have experienced so far is nothing compared to what is coming.

But in the short-term we should be very thankful that the numbers around the world are starting to level off a bit.

Of course that is only happening because most people are staying home, but having people stay home is absolutely killing the economy.

And if people stay home long enough, a lot of them will no longer be able to pay the mortgages on those homes.

Our leaders are being forced to make choices between saving lives and saving the economy, and those choices are only going to become more painful the longer this crisis persists.

Let us pray that they will have wisdom to make the correct choices, because the stakes are exceedingly high.

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 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet 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. 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.  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 all many people as we possibly can.

Food Banks Warn They Will Soon Run Out Of Food As Economic Suffering Explodes All Over America

What are hungry Americans going to do when the food banks don’t have any more food for them?  Over the past couple of weeks, we have witnessed the largest spike in unemployment in all of U.S. history.  Since most of those workers did not have any sort of a cushion to fall bank on, a lot of of them have been forced to seek out emergency assistance for themselves and their families almost immediately.  Of course our national network of food banks was not built to handle this sort of a scenario, and as you will see below, many of them are already starting to run out of food.  But if things are this bad at the very beginning of this new economic downturn, what are things going to look like a few months from now?

It is imperative for people to understand that we are now in uncharted territory.  At this point, even the head of the IMF is warning that this new economic crisis will be “way worse” that the last recession…

The coronavirus pandemic has created an economic crisis “like no other” — one that is “way worse” than the 2008 global financial crisis, the International Monetary Fund’s top official said Friday.

“Never in the history of the IMF have we witnessed the world economy come to a standstill,” Kristalina Georgieva, managing director of the IMF, said at a news conference.

And of course we are already seeing economic numbers in the United States that absolutely blow away anything that we witnessed back in 2008 and 2009.  I don’t know that any of us ever anticipated seeing a single week when 6.6. million Americans would file new claims for unemployment benefits.

As this “coronavirus shutdown” continues all over the nation, U.S. economic numbers will continue to be nightmarish for the foreseeable future.  In fact, what Morgan Stanley is projecting for the second quarter is nothing short of terrifying

Following Friday’s report, Ellen Zentner, chief U.S. economist at the New York-based investment bank Morgan Stanley, lowered her growth forecast for second-quarter gross domestic product to -38 percent on an annualized basis. She says the U.S. economy will lose 21 million jobs, running the unemployment rate up to 15.7 percent, a level not seen since the Great Depression.

Of course the people that are going to feel the most pain are those on the lowest rungs of the economic food chain.

According to Bloomberg, “bread lines are forming” even in some of the wealthiest areas of the country…

With more than 10 million people across the nation suddenly unemployed, bread lines are forming in the shadows of privileged enclaves like this one in Florida.

For the past two weeks, the kitchen staff at Howley’s has been cooking up free meals—the other day it was smoked barbecue chicken with rice and beans, and salad—for thousands of laid off workers from Palm Beach’s shuttered restaurants and resorts. The rows of brown-bag lunches and dinners are an early warning that the country’s income gap is about to be wrenched wider as a result of the Covid-19 crisis, and the deep recession it has brought with it.

Elsewhere, vehicles are lining up at the crack of dawn at food banks all across the United states.

Feeding America is the largest food bank network in the nation, and the demand that they are seeing right now is unprecedented

Millions of people newly unemployed mean food banks, food pantries and soup kitchens are seeing a flood of new clients appearing at their doors, just as supplies are dwindling because of growing demand from consumers stuck at home.

Food banks are reporting a 40% increase in demand, on average, said Katie Fitzgerald, chief operating officer at Feeding America, a network of 200 food banks and 60,000 food pantries and meal programs nationwide. Some say they are seeing double to quadruple the number of people asking for help.

Unfortunately, this is happening at the same time that donations to food banks are way, way down.  Feeding America locations are usually heavily supplied by major retailers, and right now those retailers are having a really difficult time keeping their own shelves stocked.

As a result, Fitzgerald is warning that some Feeding America locations may soon “not have enough food to distribute”

“Food banks could very well get so low on their inventories that they would not have enough food to distribute,” she said.

Louisiana has become one of the national hotspots of the coronavirus outbreak, and things there are particularly dire.

In fact, the head of the Greater Baton Rouge Food Bank says that his facility only has “a few weeks left of food”

Mike Manning, president of the food bank, said its usual sources of food for the needy in 11 parishes are drying up, as residents stock up their refrigerators and shelves at home during the coronavirus pandemic.

“Our inventory is down significantly,” Manning said Thursday. “We’re looking at a few weeks left of food, unless we can find relief from the federal government and Feeding America,” a national network of more than 200 food banks.

But at least they haven’t had to turn anyone away yet.

At the Greater Pittsburgh Community Food Bank, hundreds of vehicles have been turned away in recent days…

The Greater Pittsburgh Community Food Bank provided food to about 4,000 vehicles at three recent events, but had to turn hundreds away. Traffic was backed up for miles, said Lisa Scales, the agency’s CEO.

On Monday, 40 cars had already lined up by 9 am ET, even though distribution didn’t start until noon. More than 800 vehicles ended up receiving boxes of groceries.

The longer this “coronavirus shutdown” lasts, the deeper the desperation is going to become.

And even once the “shelter-in-place” orders have finally been lifted, one recent survey found that most Americans plan to continue to hunker down

A majority of Americans are hunkering down and say they will continue to social distance or stay at home even if lockdown orders are lifted, according to a new poll.

While 87% of the American public is staying home — regardless of whether or not it’s mandated by state or local municipalities — most plan on continuing to do so for all of April, according to the poll taken by the Huffington Post/YouGov survey.

So the truth is that there will not be a return to “normal” any time soon.

As long as a substantial portion of the population is afraid of the coronavirus, economic behavior is simply not going to go back to old patterns.

And the same survey that I just quoted found that a staggering 62 percent of all Americans believe that this pandemic will have “lasting effects on the nation”

“Only about one-quarter of Americans say they expect things will soon go back to normal in the country, with 62% foreseeing lasting effects on the nation. The rest are unsure what will happen.”

In the days ahead, there will be economic ups and downs, and financial markets will continue to fluctuate wildly, but the truth is that the “good times” are gone for good.

And remember, this coronavirus is just the beginning, and a lot more challenges are on the way.

As “the perfect storm” unfolds, please don’t forget those that warned you about all of these things in advance.

These are truly unprecedented times, and the level of economic suffering that we are already witnessing is off the charts.

Sadly, the pain for ordinary Americans in only just getting started, and that is going to have enormous implications for our society as a whole.

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 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet 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. 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.  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 all many people as we possibly can.

40 Million Americans Already Don’t Have Enough Food To Eat – And Here Is Why It Will Soon Get A Lot Worse

The things that I am going to share with you in this article are definitely very alarming.  But if you live in a wealthy neighborhood and are always surrounded by other wealthy individuals that never have to worry about missing a meal, then some of the numbers in this article may not ring true to you.  Today, the gap between the wealthy and the poor in the United States is larger than ever, and many wealthy Americans don’t have too much sympathy for the struggles that other people are going through.  But the truth is that most Americans are currently living paycheck to paycheck.  And when you are living right on the edge financially, there are times when it can be really tough to even afford the basic necessities.  If you have never had to miss a meal involuntarily, good for you.  Unfortunately, there are millions upon millions of Americans for which hunger is a very real problem.

If you had to guess, what would you say if someone asked you how many Americans struggle with food insecurity each year?

According to a CBS News article that was published a few months ago, “roughly 4o million people” struggle with not having enough food to eat…

The U.S. economy is enjoying nearly a decade of expansion since the Great Recession. Yet food insecurity — a lack of money or resources to secure enough to eat — still grips almost one in eight Americans. That’s roughly 40 million people. While slowly improving, that figure remains stubbornly higher than before the recession, when more than one in 10 U.S. residents had difficulty knowing when and how they might eat next, according to data from the U.S. Department of Agriculture.

Hungry people live in every county in America, according to the latest annual research from nonprofit relief organization Feeding America. It compiled federal and other data for 2017, its ninth year examining the issue, for a report called Map the Meal Gap. Feeding America serves 4 billion meals each year for one in eight Americans through 200 food banks and 60,000 meal programs and pantries.

We should be incredibly thankful for Feeding America and their vast network of food banks and pantries, but what happens when the need for food dramatically escalates and the food banks start running empty?

Just a few days ago I heard from a good friend in the middle of the country, and she told me that her local food bank is really pressing hard for donations right now because things are starting to get really, really right.

And we haven’t even officially entered the next recession yet.

Normally there wouldn’t be too much reason for concern, but this has definitely not been a normal year.  Crops have been failing across the globe, and African swine fever is killing millions upon millions of pigs all over the planet.

In fact, thanks to the horrific outbreak of African swine fever in China, pork prices over there are 69.3 percent higher than they were a year ago…

Pork prices in China jumped 69.3% in September from a year ago as the country continued to battle a shortage of the meat that followed an outbreak of African swine fever.

Last month’s surge in pork prices was higher compared to the 46.7% increase seen in August, according to data from China’s National Bureau of Statistics. That pushed up food prices in China by 11.2% in September, accelerating from the previous month’s 10% gain.

If that sounds really bad to you, that is because it is really bad.

And what we have witnessed so far is just the beginning.

One of the big reasons why the Chinese just agreed to buy billions of dollars worth of our agricultural products is because they have a desperate need for them.

Here in the United States, food prices have also been rising steadily and we were already going to be facing one of the worst years for Midwest farmers ever, and now an unprecedented October blizzard is going to cause widespread crop failures.

An absolutely massive storm just dumped very deep snow from Colorado to Minnesota, and it hit just as farmers were getting ready to harvest their corn and soybeans.

As I noted in a different article that I just posted, one lawmaker in North Dakota is telling the press that we should expect “massive crop losses – as devastating as we’ve ever seen”.

Millions of acres of corn and soybeans are going to be “a total loss”, and that means that all of us will soon be facing higher food prices at the supermarket.

If you are independently wealthy and food prices don’t really matter to you, then you are in good shape.

But for the rest of us, these higher prices are going to be quite painful.  I would encourage you to stock up ahead of time (#ad) while you still can.

Earlier this year, I extensively documented the major problems that farmers in the Midwest were having with rain and flooding, and I warned that we were potentially facing a disastrous harvest season.

Well, now that this historic blizzard has wiped out millions of acres of crops, we are potentially facing a scenario that is far worse than anything that I originally warned about.

That means that soon far more than 40 million Americans will be dealing with food insecurity.  Much higher prices at the grocery store will make it much more difficult for most of us to afford the basic necessities, and those on the bottom rungs of the economic pyramid will suffer more than anyone else.

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.

 

46 million Americans go to food banks, and long lines for dwindling food supplies begin at 6:30 AM

Children Orphans Eating - Public DomainThose that run food banks all over America say that demand for their services just continues to explode.  It always amazes me that there are still people out there that insist that an “economic collapse” is not happening.  From their air-conditioned homes in their cushy suburban neighborhoods they mock the idea that the U.S. economy is crumbling.  But if they would just go down and visit the local food banks in their areas, they would see how much people are hurting.  According to Feeding America spokesman Ross Fraser, 46 million Americans got food from a food bank at least one time during 2014.  Because the demand has become so overwhelming, some food banks are cutting back on the number of days they operate and the amount of food that is given to each family.  As you will see below, many impoverished Americans are lining up at food banks as early as 6:30 in the morning just so that they can be sure to get something before the food runs out.  And yet there are still many people out there that have the audacity to say that everything is just fine in America.  Shame on them for ignoring the pain of millions upon millions of their fellow citizens.

Poverty in America is getting worse, not better.  And no amount of spin from Barack Obama or his apologists can change that fact.

This year, it is being projected that food banks in the United States will give away an all-time record 4 billion pounds of food.

Over the past decade, that number has more than doubled.

And that number would be even higher if food banks had more food to give away.  The demand has become so crushing that some food banks have actually reduced the amount of food each family gets

Food banks across the country are seeing a rising demand for free groceries despite the growing economy, leading some charities to reduce the amount of food they offer each family.

Those in need are starting to realize what is going on, so they are getting to the food banks earlier and earlier.  For example, one food bank in New Mexico is now getting long lines of people every single day starting at 6:30 in the morning

We get lines of people every day, starting at 6:30 in the morning,” said Sheila Moore, who oversees food distribution at The Storehouse, the largest pantry in Albuquerque, New Mexico, and one where food distribution has climbed 15 percent in the past year.

Does that sound like an “economic recovery” to you?

Just because your family doesn’t have to stand in line for food does not mean that everything is okay in America.

The same thing that is happening in New Mexico is also happening in Ohio.  Needy people are standing in line at the crack of dawn so that they can be sure to get something “before the food runs out”

Lisa Hamler-Fugitt, executive director of the Ohio Association of Food Banks, who has been working in food charities since the 1980s, said that when earlier economic downturns ended, food demand declined, but not this time.

People keep coming earlier and earlier, they’re standing in line, hoping they get there before the food runs out,” Hamler-Fugitt said.

And keep in mind that we are just now entering the next global financial crisis and the next major recession.

So how bad will things be when millions more Americans lose their jobs and millions more Americans lose their homes?

Rising poverty is also reflected in the number of Americans on food stamps.  The following graph was posted by the Economic Policy Journal, and it shows how food stamp use has absolutely exploded in the five most populated states…

Food Stamp Recipients - Economic Policy Journal

I don’t see an “economic recovery” in that graph, do you?

Instead, what it shows is that the number of Americans on food stamps continued to rise for years even after the recession ended.

Sadly, things are only going to get worse from here.  Eventually, the kinds of things that we are seeing happen in places such as Venezuela will be coming here as well.  At this point, young mothers in Venezuela are sleeping outside of empty supermarkets at night in a desperate attempt to get something for their families when morning arrives

As dawn breaks over the scorching Venezuelan city of Maracaibo, smugglers, young mothers and a handful of kids stir outside a supermarket where they spent the night, hoping to be first in line for scarce rice, milk or whatever may be available.

Some of the people in line are half-asleep on flattened cardboard boxes, others are drinking coffee.

Most Americans cannot identify with this level of suffering, but it is coming to our country someday too.  Here is more from Reuters

I can’t get milk for my child. What are we going to do?” said Leida Silva, 54, breaking into tears outside the Latino supermarket in northern Maracaibo where she arrived at 3 a.m. on a recent day.

Just a couple of days ago, I wrote about how the number of Americans living in concentrated areas of high poverty has doubled since the year 2000.

In case you are wondering, that is not a sign of progress.

Just because you might live in a comfortable neighborhood that does not give you the right to look down on those that are suffering.

And when you add increasing racial tensions to the mix, it becomes easier to understand why there is so much anger and frustration in our urban areas.  According to Business Insider, the percentage of Americans that consider race relations to be in good shape in this nation has dropped precipitously…

Over the last two years there has been a 23% drop in the number of Americans who see relations between blacks and whites as “very good” or “somewhat good.”

Today, only 47% of Americans see black-white relations positively, according to a Gallup poll, the lowest it has been in the last 14 years.

The poll also showed that blacks see the relations more positively (51%) than whites (45%), but both percentages experienced sharp declines in the last two years.

All of the ingredients are there for civil unrest to erupt in cities all over the United States.

When the next major economic downturn happens, anger and frustration are going to flare to extremely dangerous levels.  At this point, it will not take much to set things off.

Desperate people do desperate things, and desperation is rising even now in this country.

So how did things get so bad?

Stupid decisions lead to stupid results, and very soon we will start to pay a very great price for decades of incredibly stupid decisions.