The Cold, Hard Facts Which Prove That The Past Decade Was Actually Quite Awful For The U.S. Economy

If this is what “the good times” look like, how nightmarish are “the bad times” going to be?  In America today, more than 500,000 of us are homeless, about 40 million of us are living in poverty, 50 percent of all workers make less than $33,000 a year, and 70 percent of us have cried about money.  But at least the economy has been “growing”, right?  Well, in this article I would like to address that.  Even if you believe that the highly manipulated economic growth numbers that the government puts out are legitimate, they still show that we are in one of the worst economic stretches in all of U.S. history.

From 1930 to 1933, the U.S. economy experienced four years in a row during which GDP growth each year was under 3 percent.

Up until this current stretch, that was the longest streak in our entire history.

Of course we have absolutely shattered that old record, and now that 2019 is over we can add one more year to our growing total.  At this point, you have to go back to 2005 to find the last year in which the U.S. economy grew by at least 3 percent.

That means that the U.S. economy has not actually had a “good year” since the middle of the Bush administration.

14 years in a row of economic growth below 3 percent is not anything to cheer about.  In fact, it is downright abysmal.

But the good news is that stock prices have been steadily rising over the past decade.  Just check out the numbers that David Wessel recently shared with PBS

So, look, the stock market had a terrific decade. The S&P 500 rose nine out of 10 years. The S&P 500 is up nearly 30 percent this year, just this year alone. And half the stock market wealth in America is held by the top 1 percent of people.

The Federal Reserve created trillions of dollars out of thin air and pumped that money into the financial markets, and of course that was going to be good for stock prices.  And pushing interest rates to the floor also helped inflate the massive bubble that we now see on Wall Street.  The following bit of analysis comes from CNBC

The Fed has kept borrowing rates low throughout the decade, gradually raising them from the end of 2015 through 2018, only to cut quickly again in 2019 to try to fend off any uncertainty in the economy. The central bank’s balance sheet sits at roughly $4 trillion, quadruple its size in 2008.

Needless to say, there is going to be a great price to pay in the long-term for such manipulation, but as long as stock prices keep rising most people don’t seem to care.

Unfortunately, these high stock prices do not represent any sort of permanent wealth.  They are simply a snapshot of what people are willing to pay at this moment in time, and a major disaster could come along which could cut those prices in half by next month.

Economic optimists also like to point to the employment numbers as evidence that the economy is doing well, but those numbers are so manipulated that they are essentially meaningless at this point.

In fact, most of the people that are transitioning from not having a job to having a job each month did not even count as “unemployed” the month previously

This year, the portion of people who got jobs each month who wouldn’t even have been counted among the unemployed the month before reached 75 percent. That’s by far the highest it’s been in the last three decades. The percentage of working-age Americans who have jobs only returned to its pre-Great Recession peak in the last few months. (It still has a ways to go before it returns to its previous peak, just before the 2001 recession.)

Today, more than 100 million working age Americans do not have a job, and John Williams has calculated that if honest numbers were being used that the real unemployment rate would be above 20 percent.

The truth is that we still have an employment crisis in this country, and anyone that suggests otherwise is not being straight with you.

Meanwhile, productivity growth has been absolutely terrible over the past decade, an increasing share of the economy has become concentrated in corporate hands, and small business creation has continued to collapse.  The following comes from an excellent article by Annie Lowrey

In many ways, the American economy became more sclerotic. Corporate concentration increased, with more industry sectors dominated by a small handful of firms. All the stories about the furious innovation coming from Silicon Valley and other tech-dominated regions aside, the start-up economy continued its long, slow collapse. The number of IPOs has fallen, and there are now half as many publicly listed businesses as there were in the late 1990s. Our cultural obsession with start-ups peaked at a time when companies under a year old were half as common as they were 40 years ago.

At the same time, the cost of living for average American families has been skyrocketing but our paychecks have not.  As a result, more Americans are being squeezed out of the middle class with each passing month.  Here is more from Lowrey

Millions of young families who tried to save for a home were unable to purchase one, sapped by the toxic combination of high rents and a lack of stock. Throw in sky-high child-care prices, spiraling out-of-pocket health-care fees, and heavy educational-debt loads, and the 2010s crushed a whole generation as it entered its prime earning years. The Millennials are on track to be the first generation in contemporary history to end up poorer than their parents—unless Gen X beats them to it.

The only thing that has saved our economy from plunging into a horrific depression has been the greatest debt binge in all of human history.

Over the last ten years we have added more than 10 trillion dollars to the national debt, state and local government debt has soared to record highs all over the nation, corporate debt has risen more than 50 percent, student loan debt has more than doubled and the total amount of U.S. household debt is now nearing 14 trillion dollars.

By stealing from the future, we have been able to stabilize the present, but the long-term cost will be more than we can bear.

It is only a matter of time before our mistakes catch up with us, and the clock is ticking.

So please don’t try to tell me that the U.S. economy is in good shape.

The last decade was one of the worst stretches for economic growth in our history, and a day of reckoning awaits us during the decade that is directly 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.

50 Numbers From 2019 That Are Almost Too Crazy To Believe

One of the best ways to determine where things are heading is to look back at how much has changed over the past 12 months.  2019 has been one of the most memorable years in our history, and it has certainly set the stage for the critical events of the decade to come.  However, not everyone views this moment in our history the same way.  For example, one “expert” that is being heavily quoted by the mainstream media is claiming that 2019 was the culmination of “the best decade in human history”.  His main argument seems to be that since “the ecological footprint of human activity” appears to be shrinking, the world must be a better place than it was before as a result.  And certainly there are many other voices out there that are boldly proclaiming that we have entered a golden new era of peace and prosperity and that the best is yet to come.  You can buy that argument if you want, but there are other voices that believe that everything that is wrong with our society is reaching a very dangerous crescendo.  For those with that perspective, it appears that we are very close to a societal tipping point and that the years ahead are when we will finally pay the price for decades of exceedingly bad decisions.

So what do you think?

Will the 2020s be the best of times or the worst of times?

As you ponder that question, here are 50 numbers from 2019 that are almost too crazy to believe…

#1 According to a Gallup poll that was just released, Barack Obama and Donald Trump came in tied for “the most admired man in America” this year.  They both got 18 percent in the survey, and no other man had more than 2 percent.

#2 At 10 percent, Michelle Obama topped the list in the Gallup poll for “the most admired woman in America” this year.

#3 Global stocks have increased in value by more than 25 trillion dollars over the past 10 years.

#4 In the United States, 84 percent of all stocks are owned by the wealthiest 10 percent of all Americans.

#5 The U.S. government is now more than 23 trillion dollars in debt.

#6 During the Obama and Trump administrations, we have added more than 12 trillion dollars to the national debt.

#7 Over the past 12 months alone, we have added another 1.1 trillion dollars to the national debt.

#8 Every single hour of every single day, we are stealing more than 100 million dollars from future generations of Americans.

#9 According to the IMF, total global debt has now reached the 188 trillion dollar mark.

#10 U.S. corporations are now close to 10 trillion dollars in debt.

#11 Total corporate debt has now reached 47 percent of U.S. GDP.  That is the highest level in our history.

#12 Total U.S. household debt is about to cross the 14 trillion dollar mark.

#13 A study that was recently released found that 70 percent of all Americans are struggling financially right now.

#14 The average family in the United States cannot afford to buy a home in 71 percent of the country.

#15 58 million jobs in the United States pay less than $793 a week.

#16 According to the Social Security Administration, 50 percent of all Americans make less than $33,000 a year.

#17 63 percent of the jobs that have been created in the United States since 1990 have been low wage jobs.

#18 Roughly 40 million Americans struggle with food insecurity.

#19 70 percent of Americans “have cried about money”.

#20 A recent survey found that more than two-thirds of all U.S. households “are preparing for a possible recession”.

#21 According to the most recent government figures, 24.6 million Americans have used an illegal drug within the last 30 days.

#22 If you can believe it, 46 percent of all Americans have taken at least one legal pharmaceutical drug within the last 30 days.  That is almost half the country.

#23 A New York woman named Alexa Kasdan recently went to see her doctor because she had a cold and a sore throat.  Her insurance company was billed $25,865.24 for the visit.

#24 Americans spend more than 140 billion dollars a year treating cancer.

#25 If you are an American woman, there is a 1 in 3 chance that you will get cancer at some point in your life.

#26 If you are an American man, there is a 1 in 2 chance that you will get cancer at some point in your life.

#27 Over the past decade, the suicide rate among young Americans has risen by 56 percent.

#28 The suicide rate for the overall population increased by 41 percent between 1999 and 2016.

#29 One survey has discovered that 15-year-old students in China are almost four full grade levels ahead of 15-year-old students in the United States in mathematics.

#30 A different survey discovered that one-third of all American teenagers haven’t read a single book in the past year.

#31 According to a recent survey of 2,000 adults, a whopping 88 percent of all Americans believe that the holiday season is the most stressful time of the year.

#32 48 million Americans still have holiday debt from last year.

#33 23 percent of all U.S. children live with a single parent.  That is the highest rate in the entire world by a wide margin.

#34 Today, approximately 40 percent of all babies in America are born to unmarried women.

#35 The U.S. fertility rate has fallen 15 percent since 2007 and is now at the lowest level ever recorded.

#36 One very alarming survey found that the average American spends 86 hours a month on a cellphone.

#37 The average person will watch more than 78,000 hours of television programming over the course of a lifetime.

#38 Today, almost half of all homeless people in the entire nation live in the state of California.

#39 Over half of all California voters have considered leaving the state.

#40 According to an American Bar Association survey, only 38 percent of all Americans know that the U.S. Constitution is the highest law in the land.

#41 58 percent of American adults under the age of 35 agree that some version of socialism “would be good for the country”.

#42 Almost one-third of all U.S. Millennials are still living with their parents.

#43 According to the Pew Research Center, only 65 percent of Americans now consider themselves to be Christians.  That is the lowest level ever recorded.

#44 The bird population of North America has declined by 3 billion since 1970.

#45 Scientists are telling us that at the current rate of extinction, nearly all insects could be gone “in 100 years”.

#46 African Swine Fever has already killed one out of every four pigs in the world, and many experts believe this crisis is still in the very early stages.

#47 Within the last 365 days, there have been approximately 37,000 earthquakes of at least magnitude 1.5 in the United States.

#48 The upcoming election is a “significant source of stress” for 56 percent of U.S. adults.

#49 A survey that was conducted a couple of months ago found that 67 percent of all Americans believe that we are “on the edge of civil war”.

#50 The final full moon of this decade was on 12/12 at precisely 12:12 AM eastern time.  And it turns out that it was also exactly 6,666 days from 9/11.

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.

Morgan Stanley’s Business Conditions Index Just Suffered The Biggest One Month Decline In History

We continue to get more indications that U.S. economic conditions are going to deteriorate rapidly during the second half of this year.  Yesterday, I reported on a brand new survey which found that 69 percent of U.S. CFOs believe that a recession is coming “by the end of 2020”, and today we learned that Morgan Stanley’s Business Conditions Index has fallen dramatically.  In fact, according to CNBC the sudden drop in the index was “the largest one-month decline on record”…

A reading of the economy from Morgan Stanley is signaling “June gloom.”

Morgan Stanley’s Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since December 2008 during the financial crisis, according to the firm.

At this point, I really don’t see how anyone can possibly claim that the U.S. economy is doing well.  We also just learned that U.S. unemployment claims have now risen for three weeks in a row, and the trade war is clearly beginning to take an immense toll on the economy.

This week, Walmart, Costco and hundreds of other companies jointly sent President Trump a letter that essentially begged him to end this trade war with China.  The following comes from CNN

More than 600 companies and industry trade associations — including Walmart, Costco, Target, Gap, Levi Strauss and Foot Locker — wrote to the White House urging Trump to remove levies on China and end the ongoing trade war.

“We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the US economy,” the companies said in the letter. “An escalated trade war is not in the country’s best interest, and both sides will lose.”

Of course this is exactly what I have been telling my readers for a long time.

There aren’t going to be any winners in this trade war, and anyone that suggests that there will be is just being delusional.

If there had been a quick resolution to the trade war, large corporations could have perhaps swallowed the increased costs that they are facing.  But since it appears that this trade war will be with us for the foreseeable future, big companies are going to be forced to pass those costs on to consumers, and some top executives are openly admitting this

“At the end of the day, prices will go up on things,” Costco (COST) chief financial officer Richard Galanti told analysts last month. Dollar General (DG) Chief Financial Officer John Garratt also said the company’s low-income shopping base “will be facing higher prices as 2019 progresses.”

If prices go up but our paychecks stay the same, that means that our standard of living is going to go down.

And as I noted yesterday, it is being projected that U.S. corporate earnings will be way down in the second quarter, so the big corporations are definitely suffering as well.

Meanwhile, China is warning of substantial damage to their economy too, and the Chinese Ministry of Commerce just told the press that this trade war could lead to a global recession

Chinese Ministry of Commerce spokesman Gao Deng told a Beijing press conference on Thursday that “there will be no winner in the trade war, which could cause a recession in the United States and global economies.”

The ministry did not disclose US investment growth in China for the month of May alone, but the plunge seems to have coincided with the collapse of trade talks between Beijing and Washington.

Of course we were almost certainly heading toward a global recession anyway, but the trade war is definitely accelerating our problems.

At this point, global trade has already collapsed to levels not seen since the depths of the last recession.  Manufacturing numbers are plunging all over the world, and we just got some brand new numbers from the U.K. that are extremely alarming

Production output in the UK dropped by 2.7% in April from March, and GDP fell by 0.4% in just one month, according to the latest figures by the Office of National Statistics. The manufacturing sector provided the largest contribution to the downturn, with the manufacturing index plunging 3.9% in April, from March, its biggest monthly fall since June 2002.

June 2002 was 17 years ago.

Not even during the last recession did we witness a monthly decline of that magnitude.

The speed at which the global economy is now deteriorating is breathtaking, and the crisis that so many thought had passed us by could actually be right on the doorstep.

And of course most Americans are completely and utterly unprepared for any sort of an economic crisis.  Today, 59 percent of us are living paycheck to paycheck, and a survey that was just released discovered that the financial situation of most Americans has not improved since 2007

Bankrate surveyed 2,740 adults across the country. Of those surveyed, 2,315 were older than 18 when the recession started.

Among people who were adults before the recession hit, 33 percent said their financial situation is “about the same” as it was before 2007, while 23 percent said their situation is worse.

When you add those two numbers together, you get a total of 56 percent of all Americans that say that their financial situation is either “worse” or “about the same” as it was just before the last recession hit.

That isn’t good, and now another major downturn is here.

But of course most Americans assume that everything is going to be just fine.  For most of us, the pain of the last recession is a fading distant memory, and things have been relatively stable for an extended period of time.

So for the moment, most of the population is not too alarmed about what is coming.

Unfortunately, that will soon change in a major way.

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 One Thing That Could Almost Guarantee A Trump Victory In 2020 Is On The Verge Of Happening

The left has been salivating over the prospect of voting Donald Trump out of office in 2020, but now something has happened that could change everything.  On Sunday, former Starbucks CEO Howard Schultz announced that he is “seriously considering running for president as a centrist independent”.  If Schultz officially decides to run, and it looks like that is almost certainly going to happen, then a Trump victory in 2020 will become almost inevitable.  Unless something dramatic takes place, Trump is going to have the support of at least 40 to 45 percent of American voters in 2020.  But the key was going to be finding that last 5 to 10 percent that he needed to push him over the top.  Unfortunately for Trump, he does not do well with moderate independent voters, and Democratic strategists were counting on those voters to help them beat Trump.  But if a “centrist independent” like Schultz enters the race, he will inevitably steal a lot of those voters from the Democrats, and that is why the left is freaking out so much right now.

There is certainly room in the race for someone like Schultz.  If faced with a choice between Donald Trump and a radical leftist such as Kamala Harris, many Americans would be open to a third option.  And since Schultz is a billionaire, he could certainly provide the resources necessary to mount a serious independent bid.

But he would not have a prayer of actually winning.  40 percent of the country is going to vote Republican no matter what, and 40 percent of the country is going to vote Democrat no matter what.  If things go well for Schultz he could end up with 10 percent of the vote, and if things go perfectly for Schultz he could end up with 20 percent of the vote.

And he is likely to take far more votes from the Democrats than from the Republicans because everyone knows that he was a lifelong Democrat.  He was a big donor to top Democrats, and he voted Democrat his entire life.

So a three way race would be a dream come true for Trump.  In such a scenario Trump may only receive 45 percent of the national vote, but Schultz could pull enough support away from the Democratic candidate to push Trump over the top.

If you are a Trump supporter, send Schultz a message on Twitter encouraging him to run, because it looks like it isn’t going to take too much encouragement to push him over the edge.  In fact, it is being reported that he has already spent many months preparing an independent presidential campaign…

Before announcing his presidential ambitions this week, former Starbucks chief executive Howard Schultz secretly undertook a months-long effort to prepare an independent presidential campaign against the nation’s two-party political system, deploying more than six national polls and laying the groundwork for paid advertising that could debut in the next two months.

All of that effort tells me that Howard Schultz is not just “thinking about it”.  He really wants to do this, and that is extremely good news for Trump.

On Monday, Schultz released his brand new book entitled “From the Ground Up: A Journey to Reimagine the Promise of America”, which is essentially his way of introducing himself as a presidential candidate to the American people.  If you will remember, Barack Obama did the same thing when he first ran for president.  Now Schultz is going on a book tour, and on this tour he will “test the appeal of his ideas”

An early advertising effort, made possible by Schultz’s net worth of about $3.4 billion, would be designed to help Schultz show early promise in national polls during his book tour, which he has described as a time to test the appeal of his ideas.

But if he is a lifelong Democrat, then why didn’t he just run as a Democrat?

Well, these days the Democratic Party has taken a radical turn to the left, and Schultz simply doesn’t agree with many of the socialist policy positions that they are currently espousing

But in 2019, he says he cannot in good conscience run as a Democrat. He is considering an independent run. “What the Democrats are proposing is something that is as false as the wall,” he says, indicating “free” health care, “free” college, and the entire litany of “free” things “which the country cannot afford.” He worries — oh, bless his pointy little head! — about the national debt, unfunded liabilities, and other examples of fiscal recklessness. He thinks that the Democrats’ current “liquidate the kulaks as a class” approach to taxes may prove counterproductive to the long-term interests of the United States as a whole. He worries that “extremists” have taken over both parties.

And in this political environment, a moderate white billionaire would simply not have a prayer of winning the Democratic nomination.

So if he wants to run for president, his only option is to do it as an independent, and the fact that he might actually do this is really stressing out those on the left.  The New York Times just published an editorial entitled “Howard Schultz, Please Don’t Run for President”, and Henry Blodget is urging Schultz “to go home”

Unfortunately, right now, our political system is built around only two major parties.

The best way to defeat a candidate from one party is to vote for the candidate from the other.

So if you want to see President Trump fired in 2020, you should probably urge Howard Schultz to go home.

And the media attacks on Schultz have already begun.  For example, a Slate article is painting him as someone that was horrible to his employees…

For one, during Schultz’s long tenure as CEO, Starbucks repeatedly fought against workers’ attempts to organize a union. In 2008, for example, a National Labor Relations Board judge found that the company had illegally fired three workers for their union activities, as well as violated other aspects of the law. Starbucks workers in our country still don’t have a union. Although the right wing has tried for years to paint unions as extreme, a recent Gallup poll showed that 62 percent of Americans approve of labor unions; similarly, an MIT survey found that most workers wanted a greater voice on the job, and that almost half would join a union if given the opportunity. Squelching union organizing efforts may be routine for companies, but it’s not where our country’s political center lies.

Starbucks also pays its workers poverty wages. According to PayScale, an online salary information company, the average hourly rate for Starbucks employees is around $11 per hour. Baristas average $9.77 per hour, and wages don’t reach $15 per hour until a worker becomes a retail store manager ($17.44) or assistant manager ($15.17).

If there is enough abuse from the left, it is still possible that Schultz could pull the plug on his campaign before it has even begun.

But if you are a Trump supporter, you definitely do not want that to happen, because having at least one viable third party candidate is probably the key to Trump winning in 2020.  So everyone needs to encourage Schultz to run, because we absolutely do not want a radical socialist like Kamala Harris in the White House.

Get Prepared NowAbout 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 all over the nation.  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.

Why Is The Media Warning A Recession Is Expected “By The End Of 2020” That Will Be “Worse Than The Great Depression”?

The mood of the mainstream media is really starting to shift dramatically.  At one time they seemed determined to convince all of us that happy days were here again for the U.S. economy, but now some mainstream news outlets are openly warning that the next recession will be “worse than the Great Depression”.  Do they really believe that this is true, or is there some other purpose behind their bold headlines?  Of course it isn’t exactly difficult to predict that another recession is coming, because the U.S. economy has experienced recession after recession ever since the Federal Reserve was first established in 1913.  But the phrase “worse than the Great Depression” implies that what we will soon be facing will be the worst economic downturn in all of U.S. history.  That is a very bold statement to make, and it should not be done lightly.

That is why I have been absolutely astounded by some of the mainstream headlines that I have been seeing lately.  For example, the following comes from a New York Post article entitled “Next crash will be ‘worse than the Great Depression’: experts”

“We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years,” said Murray Gunn, head of global research at Elliott Wave International.

And in a note, he added: “Should the [US] economy start to shrink, and our analysis suggests that it will, the high nominal levels of debt will instantly become a very big issue.”

And here is an excerpt from an article posted on MSN entitled “Experts warn the next recession will be ‘worse than the Great Depression’ and predict it will hit US within two years as $247 trillion global debt outdoes 2008”

The next recession could put the 2008 financial crash to shame if two experts’ predictions about the worldwide debt of $247 trillion are correct.

Expected to hit the United States within the next two years, the impact has been compared to the severe worldwide economic crisis which started 1929 and last until 1939.

It is particularly interesting that the author of the last article chose to use the phrase “within the next two years”.

That strongly implies that the U.S. economy will have plunged into the next recession before the next presidential election takes place.

Other mainstream outlets are using similar language.  For example, the following comes from a Bloomberg article entitled “Two-thirds of U.S. business economists see recession by end of 2020”

Two-thirds of business economists in the U.S. expect a recession to begin by the end of 2020, while a plurality of respondents say trade policy is the greatest risk to the expansion, according to a new survey.

About 10 percent see the next contraction starting in 2019, 56 percent say 2020 and 33 percent said 2021 or later, according to the Aug. 28-Sept. 17 poll of 51 forecasters issued by the National Association for Business Economics on Monday.

Those are stunning numbers.

If they are correct, and I have no reason to doubt them, that means that 66 percent of mainstream economists believe that the next recession will strike in either 2019 or 2020.

Of course those that follow my work on a regular basis already know that there are a multitude of signs that indicate that the U.S. economy is already slowing down.

I wanted to share another one of those signs with you today.  For years, the real estate market in Manhattan was red hot, but now we just witnessed “the fourth straight quarter of double-digit declines”

Total real estate sales in Manhattan fell 11 percent in the third quarter compared with a year ago, marking the fourth straight quarter of double-digit declines, according to new data from Douglas Elliman Real Estate and Miller Samuel Real Estate Appraisers & Consultants. It was also the first time since the financial crisis that resales of existing apartments fell for four straight quarters.

Prices fell, inventory jumped and discounts were higher and more common. Real estate brokers say the Manhattan real estate market is suffering from an oversupply of luxury units, a decline in foreign buyers and changes in the tax law that make it more expensive to own property in high-tax states.

At this point, the housing market in New York City has become “a buyer’s market”, and there are no signs that things are going to turn around any time soon…

“Offers 20 percent and 25 percent below asking prices began to flow in, a phenomenon last seen in 2009,” wrote Warburg Realty founder and CEO Frederick W. Peters in the report, which surveys real estate conditions around the city.

Warburg’s report dovetails with separate data showing a definitive cooling in New York’s housing market. The number of homes for sale in the city recently hit a record, according to StreetEasy data, amid fewer sales transactions. Meanwhile, September’s report from real estate firm MNS showed Manhattan apartment rental prices — the most expensive in the city — on the decline.

Of course this is not just happening in New York City.  Home sellers all over the nation are slashing their prices at the fastest rate that we have seen in at least eight years.

In order for people to be able to afford to buy expensive homes, they need good jobs, and more good jobs just keep getting shipped out of the country.

For example, Verizon just announced that they will be shipping thousands of information technology jobs to India

Earlier this week, Verizon confirmed that it offered a voluntary severance package (VSP) to about 44,000 employees and that it will transfer over 2,500 IT staff – some rumors suggest the figure to be closer to 5,000 employees – to India-based Infosys as part of a $700 million outsourcing deal.

The layoffs and transfers will impact more than 30% of Verizon’s 153,100-employee workforce – as of the end of June – and are part of a 4-year plan to save the largest U.S. wireless carrier $10 billion by 2021.

If you get angry when you read such stories, that is good, because they should make you angry.

The middle class in America is being systematically eviscerated, and the U.S. economy is steadily being hollowed out.

And now the mainstream media is boldly pronouncing that the next recession will arrive within the next two years, and many are suggesting that it will be even more painful than the last one…

About the author: Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

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MIT Computer Model Predicts Dramatic Drop In Quality Of Life Around 2020 And The “End Of Civilization” Around 2040

Is humanity approaching a major turning point?  A computer model that was originally developed in 1973 by a group of scientists at MIT is warning that things are about to dramatically change.  If the computer predictions are accurate, our standard of living will start to decline dramatically around the year 2020, and we will witness the “end of civilization” around the year 2040.  Of course this is not the first time ominous predictions such as this have been made about our future.  For years, experts have been warning that we are heading for severe shortages of water, food and oil as our limited natural resources begin to run out.  For years, experts have been warning that our economic model is not sustainable and that we are heading for a historic collapse.  For years, experts have been warning about the alarming increase in seismic activity all over the planet and about the proliferation of weapons of mass destruction.  Society is crumbling all around us, and the elements for a “perfect storm” are definitely coming together.

So maybe this computer model is on to something.

The name of the computer program is “World One”, and it was originally created by Jay Forrester

The prediction came from a programme nicknamed World One, which was developed by a team of MIT researchers and processed by Australia’s largest computer.

It was originally devised by computer pioneer Jay Forrester, after he was tasked by the Club of Rome to develop a model of global sustainability.

However, the shocking result of the computer calculations showed that the level of pollution and population would cause a global collapse by 2040.

The fact that the Club of Rome was behind Jay Forrester’s work is a major red flag, because David Rockefeller and other globalists founded the Club of Rome and it has always been used to further the globalist agenda.

Could it be possible that this computer model is a glimpse into the kind of future that the globalists believe is coming?

According to the model, life as we know it is about to change in a massive way

At this time the broadcasters addreses the audience: “At around 2020, the condition of the planet becomes highly critical.

“If we do nothing about it, the quality of life goes down to zero. Pollution becomes so seriously it will start to kill people, which in turn will cause the population to diminish, lower than it was in the 1900.

“At this stage, around 2040 to 2050, civilised life as we know it on this planet will cease to exist.”

The computer model appears to be primarily concerned with natural resources, pollution and population levels, but other factors should be considered as well.

In order to have “civilization”, people need to behave in a civilized manner, and we see more evidence that we are in an advanced state of social decay on a daily basis.

For example, one would think that priests would be some of the most well-behaved and “civilized” members of our society, but a new report about clergy child abuse in Pennsylvania is pulling back the curtain on incredible acts of darkness

Horrific details have emerged about predatory behavior by priests, including those who made young boys rinse their mouths with holy water to ‘purify’ them after they were forced to give oral sex and one young boy made to pose naked as Jesus while other priests took pornographic pictures and shared them with other clergymen.

A bombshell report by a grand jury in Pennsylvania has extensively detailed for the first time how 300 priests sexually abused more than 1,000 children and how church leaders, some of whom are still alive, covered it up.

Remember, these 300 priests are just from one state.  There are countless other incidents of abuse all over the country, and it is a crisis that appears to be escalating.

Earlier today, I came across a story about a 22-year-old man in Michigan that approached a group of young girls in a forceful manner, but fortunately they were able to fight him off

Four Michigan girls successfully fought off a man who allegedly intended to kidnap and have sex with one of them by punching him and flinging hot coffee in his face.

Bruce Hipkins, 22, of Tuscola County, Michigan, was charged with kidnapping, unlawful imprisonment, assault and battery and criminal sexual conduct charges following the incident which occurred Friday night.

The thin veneer of civilization that we all take for granted on a daily basis is wearing very thin, and it is all that really separates us from societal collapse, chaos and anarchy.

Ultimately, a computer model from 1973 is probably not going to be the best guide, but I do agree that enormous societal changes are heading our way very rapidly.  In fact, I wrote an entire novel about what America will start to look like as those societal changes begin to accelerate.  I am more convinced than ever that America is heading for a “perfect storm” that will bring us to our knees, but most Americans appear to have bought into the fiction that everything is going to be okay somehow even though it is exceedingly clear that virtually nothing about our society is sustainable over an extended period of time.  A day of reckoning is inevitably coming, and even a computer model from 1973 can see that.

For those of you that have stopped, it is time to start prepping again.  A major international debt crisis has started, war almost erupted in the Middle East last week, and civil unrest is starting to erupt in major cities all across America.

I believe that we are going to witness bigger changes over the next two years than we have over the last ten years combined.  The clock is ticking, and America’s date with destiny is fast approaching.

As always, let us hope for the best, but let us also get prepared for the worst.

Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.

Kid Rock Is Running For Senate – And Maybe You Should Run For Public Office Too

Would Kid Rock make a good U.S. senator?  When asked if a website promoting his potential run was real, he responded by tweeting that the answer is “an absolute YES”.  Of course no official announcement has been made yet, but Kid Rock says one may be coming very soon.  Many Republicans have been urging him to run against incumbent Democrat Debbie Stabenow, and it looks like this may actually happen.  Thanks to Donald Trump’s election victory last November, a lot of celebrities are starting to realize that they might be able to be successful in politics too.  Even now, there are rumors that Mark Zuckerberg, The Rock, Katy Perry and Oprah Winfrey may all be considering running for president in 2020, and it would be a shock if we didn’t see at least a few “unconventional candidates” shoot for the White House next time around.

Considering the clown show that the Senate has already become, it is hard to imagine things getting much worse.  If you want to see the website that has been set up for Kid Rock’s campaign, you can find it right here.  Apparently his primary slogan is “Are You Scared?”

Some may dismiss this as a publicity stunt, but apparently Kid Rock is quite serious about running

Famed rocker and admitted Republican Robert Ritchie — aka “Kid Rock” — tweeted Wednesday that he has been asked repeatedly about whether he is going to run for office, specifically for the U.S. Senate. His response? “Absolute YES.”

Ritchie has been vocally supportive of Republican politicians in the past, including President Donald Trump, whom he endorsed during the 2016 presidential elections. Ritchie recently made headlines when he visited the White House with former Alaska Gov. Sarah Palin and fellow rocker Ted Nugent. The photos that came out of the visit prompted nasty comments from many on the left.

When you go to his website, you will notice that nothing is said about the issues.  This is so typical of what you will find on many campaign websites these days, and that is why I have tried to be completely different.  Instead of playing “hide and seek” with the issues, candidates should come out and tell people exactly where they stand so that voters can make informed decisions.

So where does Kid Rock stand?  Well, apparently he is not really that conservative.  The following comes from Fox News

Rock, an outspoken conservative, endorsed Mitt Romney for president during his 2012 campaign. He told The Guardian in 2015 that he’s a Republican on certain issues, but leans toward the middle on others.

“I am definitely a Republican on fiscal issues and the military, but I lean to the middle on social issues. I am no fan of abortion, but it’s not up to a man to tell a woman what to do. As an ordained minister I don’t look forward to marrying gay people, but I’m not opposed to it,” Rock said.

Obviously this is not the kind of candidate that a lot of us are going to be able to get behind.

In fact, I have unequivocally stated that I will never support any Republican candidate that does not pledge to vote against any bill that contains even a single penny of funding for Planned Parenthood.

But if good people don’t run, we are going to end up with whatever we get.

If you think that Nancy Pelosi, John McCain, Al Franken, Mitch McConnell, Chuck Schumer, Lindsey Graham and the rest of our Congress critters are doing a great job, then no action is required.

However, if you are sick and tired of the mess in Washington, I encourage you to join us in trying to do something about it.

I am trying to do my part by running for Congress here in Idaho.  I am just an ordinary person that has never run for public office before, but at least I am putting myself out there.

And maybe you should consider running for something in 2018 too.

One of the big things that I am trying to do is to inspire good people to run for public office all over the nation.  Because getting one person elected is only going to have a very small impact, but if hundreds of good people start winning elections all over the country that is really going to start changing things.

There is never any guarantee of success.  When our founders decided to rebel against the mighty British Empire, the rest of the world thought that they were crazy.  But instead of listening to the doubts, they put everything they had on the line, and as a result the United States of America exists today.

And whoever thought that Donald Trump would become the president of the United States?  When he first announced his candidacy, the mainstream media mocked him relentlessly.  They treated him like a huge joke, and hardly anyone believed that he actually had a prayer of winning the Republican nomination.

Jeb Bush had 100 million dollars and nearly the entire Republican establishment on his side, and Trump smashed him because Trump simply had a much better message.

So would you consider getting involved?  If you feel like you absolutely cannot run for something, then at least get involved in the campaign of someone that you do feel like you can back.

If we do nothing, there is no hope for America.  Because if this nation stays on the path that it is currently on, it will crash and burn.

What we need is a second American revolution.  Instead of a revolution with guns and bullets, what we need is a revolution of ideas, values and principles.

So many of us (including myself) have bitterly complained that we never have anyone good to vote for.  And we can continue to do so, or we can take matters into our own hands and start running for these offices ourselves.

A lot of people believe that America is too far gone and that we shouldn’t even try to fight the death of our country.

But I believe that it is never too late to shine a light in the darkness, and I plan to keep proclaiming the truth for as long as I possibly can.

And I hope that as many of you as possible will join with me, because otherwise the clowns will just keep on winning over and over again.

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