The Mystery Of The Millions Of “Missing Workers”

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

But that isn’t happening.

Instead, the number of Americans that are employed only rose by 194,000 last month…

U.S. job growth fell to the slowest pace of the year in September, a sign the Delta variant and a persistent shortage of workers weighed on the economic recovery.

The economy created 194,000 jobs in September, the smallest gain since December 2020 and down from 366,000 jobs added in August, the Labor Department said Friday.

Needless to say, that is a terrible number.

When it was revealed on CNBC, the talking heads were stunned

CNBC’s Squawk Box expressed astonishment on Friday with September’s jobs report, which came less than halfway to meeting projections.

The moment began with Steve Liesman, who looked down at the report and said, “194,” reflecting the 194,000 new jobs reported over the last month. “Whoa!” Becky Quick responded.

Before the pandemic, we needed to add between 150,000 and 200,000 new hires each month just to keep up with population growth.

So this is definitely a “treading water” number.

But we shouldn’t be “treading water” when nearly 11 million jobs are open.

At this point, employment in the U.S. is not even close to returning to pre-pandemic levels.  As you can see from the chart below, the total number of Americans that are employed is still about 5 million below the peak that we reached just before the pandemic hit.

If just the people that were employed before the pandemic decided to go back to work, we would have about five million more Americans working.

So what happened to them?

The civilian labor force is also way down from pre-pandemic levels.  In fact, right now it is currently at a level that is about 3 million lower than the pre-pandemic peak.

And according to the latest number that we just got from the government, the civilian labor force actually decreased by 183,000 last month…

Curiously, even as the unemployment rate dropped, the participation rate also declined from 61.7% to 61.6% as the civilian labor force somehow shrank in September by 183K to 161.354 million.

Because of population growth, over time the number of Americans that are employed and the civilian labor force should both steadily grow.

But instead, in both cases it is as if millions of people have completely disappeared from the system.

So where did all the people go?

Some conservative pundits are telling us that Joe Biden’s policies have given many unemployed workers a reason to stay home and not work, and I agree that Joe Biden’s economic approach has been completely and utterly disastrous.

But this isn’t just happening in the United States.

Right now, there is an epic shortage of labor all over the globe, and this is something that I have covered a number of times.  For much more on this, please see my previous article entitled “What Is Causing The Global People Shortage?”

So where did all of the “missing workers” go?

Millions upon millions of people all over the world that were working before the pandemic are now seemingly unavailable to work now.

If we simply had enough workers to do all of the jobs that needed to be done, a lot of our global supply chain problems would disappear very rapidly.

Before I end this article, there is one more thing that I would like to discuss.

According to the OECD, 136 nations have all approved a new global agreement on corporate taxation…

A group of 136 countries have agreed to a global treaty that would tax large multinationals at a minimum rate of 15% and require companies to pay taxes in the countries where they do business.

Estonia, Hungary and — most notably — Ireland joined the agreement Thursday. It is now supported by all nations in the Organization for Economic Cooperation and Development and the G20. The countries that signed on to the international treaty represent more than 90% of global GDP. Four countries that participated in the talks — Kenya, Nigeria, Pakistan and Sri Lanka — have not yet joined the agreement.

Even in the midst of all the craziness that is going on out there, globalism continues to march forward.

Now that the world has come together on this, what other types of “global tax agreements” could they come up with in the future?

Of course most Americans will never even hear about this new global agreement on taxation, and it will never become a major political issue in this country.  This is by design, because the globalists prefer to move their agenda forward without much public debate if possible.

Our world is being transformed at a pace that is breathtaking, and the road ahead is filled with peril.

Most people simply trust our leaders to do the “right thing”, but the truth is that the biggest criminals in our society can often be found walking the halls of power.

We have already witnessed so much chaos and death over the past couple of years, and much more is on the way in the months ahead.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” 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 “7 Year Apocalypse” is now available on Amazon.com.  In addition to my new book I have written five other books that are available on Amazon.com including  “Lost Prophecies Of The Future Of America”“The Beginning Of The End”“Get 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 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 as many people as we possibly can.

Why Is There Suddenly An Extremely Severe Shortage Of Workers All Over The World?

The unprecedented employment crisis that we are watching unfold around the globe is so bizarre that it could have been pulled straight out of an episode of the Twilight Zone.  For the very first time in recorded history, there is an extremely severe shortage of workers in nations all over the planet.  When this shortage first started to emerge earlier this year, I thought that it was very strange, because 2020 had been a year when we had seen unemployment absolutely skyrocket in the U.S. and other western nations.  In fact, somewhere around 70 million Americans filed claims for unemployment benefits last year.  Not too long ago we had vast hordes of people that were out of work, and now we are suddenly facing the greatest labor shortage in history?

Something is not adding up.

When I wrote my most recent article about the labor shortage, a few people wrote to me and blamed the Biden administration for what we are witnessing.

And it is certainly true that actions that the Biden administration has taken have made the labor shortage in the United States even worse.

But the Biden administration is not the reason why there is an extremely severe shortage of workers literally all over the planet.  In Vietnam, for example, there are so few workers that the government actually sent the army out to help with the rice harvest

Across the world, a dearth of workers is shaking up food supply chains.

In Vietnam, the army is assisting with the rice harvest. In the U.K., farmers are dumping milk because there are no truckers to collect it. Brazil’s robusta coffee beans took 120 days to reap this year, rather than the usual 90. And American meatpackers are trying to lure new employees with Apple Watches while fast-food chains raise the prices of burgers and burritos.

Why aren’t there enough people to do these jobs?

We have never seen anything like this before.

Considering the horrendous unemployment crisis that gripped much of the globe during the earlier stages of this pandemic, you would think that there should be colossal pools of desperate workers for large companies to choose from at this point.

But instead, it is almost as if untold numbers of low paid workers have simply disappeared.

Of course certain types of workers are far more important to the basic functioning of the global economy than other types of workers.

For example, the world would be just fine if there was a severe shortage of actors and actresses.

But if there aren’t enough people to grow, process and transport our food, that is a massive problem, and that is precisely what we are currently facing

Whether it’s fruit pickers, slaughterhouse workers, truckers, warehouse operators, chefs or waiters, the global food ecosystem is buckling due to a shortage of staff. Supplies are getting hit and some employers are forced to raise wages at a double-digit pace. That’s threatening to push food prices – already heated by soaring commodities and freight costs – even higher. Prices in August were up 33% from the same month last year, according to an index compiled by the United Nations’ Food and Agriculture Organization.

Unfortunately, the shortages and price increases are eventually going to get a whole lot worse.

I cannot recall another time since the dawn of history when the entire world has ever faced something like this.

Please correct me if I am wrong.

All over the globe, we are being told that shortages of food are being caused because there simply is not enough people to do the work

Shortages are hitting farms, processors and restaurants alike. Malaysia, the world’s No.2 palm oil producer, has lost about 30% of potential output of the edible oil used in everything from chocolate to margarine. Shrimp production in southern Vietnam – one of the world’s top exporters – has dropped by 60% to 70% from before the pandemic. And a fifth of tomato production in the south of Italy has been lost this year, due to the scorching heat and transport paralysis, according to the farmers’ association CIA.

Before the pandemic, there was never a time when we didn’t have enough workers to do the basic tasks that needed to get done.

In fact, many nations around the globe were persistently facing huge problems with rampant unemployment.

But now the pandemic has come along and suddenly all of our unemployment problems have been solved?

I don’t understand why this isn’t raising a red flag for more people.

Here in the United States, if you want a job you certainly have many to choose from these days.

In response to the article that I posted a few days ago, one of my readers sent me an email describing what conditions are like in one section of Illinois…

Where have all the people gone? When you drive down the highway in Fairview Heights and Swansea, Illinois, there are signs on both sides, now hiring. Fazoli’s, a fast food Italian restaurant has a sign stating that they pay up to $15 an hour. Domino’s is looking for employees, Sparkle Car Wash, a rental business, and several others within a two or three block area. Panera Bread Company has signs posted outside that they closed early now due to lack of employees. Food items on our grocery shelves are dwindling and they are never replaced. Some of the food is expired. I noticed when trying to purchase butter at Aldi’s, it had the same expiration date as it did months ago. They put out expired butter and left it out to sell in the cooler. Same thing at Schnuck’s, you have to be careful and check the expiration dates. A lot of their food has either expired or is about to expire very soon.

At a time when basic services are breaking down because of a lack of workers, the Biden administration has decided to make things even worse by imposing offensive new mandates on tens of millions of workers.

As these new mandates go into effect, we could soon see things we have never seen before in the history of our country.

For instance, it is being projected that close to half of the entire police force in the city of San Diego could soon be forced to quit their jobs

A rather remarkable situation in San Diego that we could see play out in the rest of the nation.  The police union, The San Diego Police Officers Association (SDPOA), asked their members about the vaccination mandate.

65 percent of the respondents said they would consider quitting the force if the city were to impose a requirement.  However, an alarming 45 percent said they would rather be fired than comply with the mandate.

The SDPOA has 1,971 members.  According to the San Diego Union Tribune, half of those officers are not vaccinated.  If that half of the entire police department were to be fired for non-compliance with the vaccine mandate, the city of San Diego would be in a really sketchy place.

The path that the Biden administration has decided to take us down is absolutely nuts.

As scores of qualified workers leave their posts, the problems that we are facing right now could go to an entirely new level.

But the U.S. is only one piece of the overall puzzle.

Everywhere in the world there are alarming labor shortages, and we are being told that this is a crisis that isn’t going to be solved any time soon.

So once again, there is a very simple question that I must ask.

Where did all the people go?

This is story of monumental importance, and hardly anyone is talking about it.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” 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 “7 Year Apocalypse” is now available on Amazon.com.  In addition to my new book I have written five other books that are available on Amazon.com including  “Lost Prophecies Of The Future Of America”“The Beginning Of The End”“Get 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 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 as many people as we possibly can.

Where Did All The People Go?

Why are companies all over the world suddenly desperate for workers?  In my entire life I have never seen anything like this.  When the labor shortage started in the United States, a lot of people blamed overly generous government handouts, but that doesn’t explain why the exact same thing is happening in nation after nation all over the globe.  There aren’t enough factory workers, there aren’t enough truck drivers, there aren’t enough port workers, there aren’t enough employees to properly staff our stores, and the shortage of doctors and nurses is becoming a major crisis in some areas.  During normal times, we were always told that the global economy was not producing nearly enough jobs for everyone, but now for the very first time we are facing an enormous worldwide labor shortage.  It is almost as if millions upon millions of people suddenly disappeared from the system.

Earlier today, I was stunned to learn that a new survey has discovered that 69 percent of global companies are having a hard time finding enough people to hire…

A survey of nearly 45,000 employers across 43 countries showed 69 percent of employers reported difficulty filling roles, a 15-year high, according to employment-services provider ManpowerGroup Inc. At the same time, 15 countries — focused in Europe and North America — reported their highest hiring intentions since the survey began in 1962.

Just a few years ago, any company that was willing to pay decent wages would be absolutely flooded by job applications.

But now everyone can’t stop talking about the “shortage” of workers.

So where did all the people go?

Normally, global supply chains run as smooth as butter, but now they are in a complete and utter state of chaos.

And the biggest reason why they are in a complete and utter state of chaos is because there simply is not enough workers for them to operate as they usually would.

On a very basic level, we need people to make stuff, pack stuff, ship stuff, transport stuff, unload stuff and sell stuff.

Every step along the way, shortages of workers are causing major headaches, and now we are being told that this supply chain crisis “will last well into next year”

A supply chain crunch that was meant to be temporary now looks like it will last well into next year as the surging delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy.

Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding wars to get space on vessels, pushing freight rates to records and prompting some exporters to raise prices or simply cancel shipments altogether.

But if we had enough people to do all the jobs that needed to be done, this crisis could be resolved very rapidly.

So where are they?

As inventories get tighter and tighter, that is invariably going to drive up prices.

Earlier this week, one of my readers emailed me about the shortages and price increases that she is seeing in her local area.  I asked her if I could share this with all of you, and she said that I could…

You can’t find frozen turkeys, frozen hens, frozen cornish hens…the supply chain HAS indeed been cut. There was 1…just one box of oatmeal on the shelves of our local food store that are normally stocked through the gills with food. Prices are higher…tomato sauce, in a can: what used to cost $0.99 cents last year now costs $1.50. Chicken drumsticks—we usually throw a bunch in a crockpot with some bbq sauce and put it over rice for our kids, they love it….chicken drumsticks, last year were $0.89/pound….now they are $ 1.39 per pound. We only buy meat that has been reduced….a rump roast, for instance, was marked down from $18 dollars to $7….that’s a huge price cut, so we look for deals like that. But they are hard to find!!! Everything is higher, packaged in smaller boxes and cups and there is not much of it. We all knew this was coming….it’s going to get worse, for lots of people who don’t know what’s happening. We have goats for goat milk and meat if we need, chickens for eggs and we’ve put back lots of produce we found on sale over the summer, in the freezer to booster our garden. It’s shocking how much just is not there…the shelves are empty, moved closer together, and bare spots are everywhere in grocery stores these days.

Unfortunately, what we have experienced so far is just the beginning.  Global food supplies are going to continue to get tighter, and that is going to continue to drive up food prices.

Another sector of the economy where the labor shortage is having a big impact is in the healthcare industry.

Lately, I have been coming across lots of stories about people dying because they can’t get the care that they need.  Just before I started writing this article, I came across a heartbreaking story about a 70-year-old woman in Canada that dropped dead after a six hour wait in a local emergency room

Bonnie Marie Hall was with her 70-year-old mother — Susan Tasson — when she died early Wednesday in a Kamloops, B.C., hospital emergency waiting room after a six-hour wait for care.

Hall says her Ontario-born mother had an infectious laugh and a “warrior” spirit. She had three sons and two daughters, loved her grandchildren and had lived in Kamloops since 1987.

“Nobody wants to die in a waiting room. Nobody,” said Hall.

Nobody should ever have to die that way.

But it is going to keep happening, because there is an acute shortage of healthcare workers right now.

All over the nation, the shortage of nurses has become a really big deal, and new mandates are just making things even worse

Hospitals are struggling to comply with the state’s nurse staffing requirements as pandemic-induced burnout has exacerbated an already chronic nursing shortage nationwide.

But burnout isn’t the only thing compounding California’s nursing shortage: The state’s new vaccine mandate for health care workers is already causing headaches for understaffed hospitals before it is even implemented. Some traveling nurses — who are in high demand nationwide — are turning down California assignments because they don’t want to get vaccinated.

There is a serious shortage of doctors as well, and this is a phenomenon that we are witnessing all over the globe.

For example, over in the UK it is being reported that there is a “shortfall of more than 50,000 doctors” right now…

The NHS may be unable to cope this winter because of a “frightening” shortfall of more than 50,000 doctors, the head of the British Medical Association has warned.

Here in the United States, our healthcare system has never been so close to a state of collapse.

In fact, one doctor recently wrote an article in which he claimed that it has “already collapsed”

As a resident physician who has only trained in an era of COVID—I was asked to consider graduating from school early in April 2020 to help with medical staff shortages—my time as a doctor has been defined by working in a system that has already collapsed. The American health system I work in has featured limited personal protective equipment, oxygen shortages, and the construction of field hospitals in convention centers and parking garages. Last winter, many hospitals across the country instituted crisis standards of care, forced to ration health services based on criteria that few people envisioned would be used outside of a mass casualty event, like a terrorist attack. Today, hospitals are full in much of the country, with patients requiring an ICU being airlifted thousands of miles in search of a staffed bed. These are not features of a health system that is approaching failure. These are features of a health care system that has broken down spectacularly, forcing doctors and patients to climb through the rubble looking for help.

But just like every other industry, if we had enough people to do the jobs that needed to be done, we would be fine.

In all the years that I have been writing about the economy, finding enough workers has never been a problem.

Yet here we are in the middle of 2021, and all of a sudden there are millions and millions and millions of empty jobs all over the globe.

Once again, there is a question that I must ask.

Where did all the people go?

This is a question that everyone should be asking, because the people that are currently running things are not telling you the truth.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” 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 “7 Year Apocalypse” is now available on Amazon.com.  In addition to my new book I have written five other books that are available on Amazon.com including  “Lost Prophecies Of The Future Of America”“The Beginning Of The End”“Get 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 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 as many people as we possibly can.

This Is The Weirdest Employment Market That We Have Ever Seen

Things just continue to get crazier and crazier.  In all of the years that I have been writing about the economy, I have never seen anything like this.  The latest employment report that was released on Friday is being described as a “huge disappointment” because the number of Americans that were hired last month was way, way below expectations.  Employment only rose by 235,000, but economists were expecting a number about triple that size.  Normally when this sort of thing happens it is because of a lack of available jobs.  But that is definitely not the case right now.  There are literally millions upon millions of jobs that are open, but for a variety of reasons people simply don’t want them.

A lot of experts are blaming COVID for the “worker shortage”, and without a doubt fear of COVID is causing some potential workers to stay home.

In other cases, mask mandates and vaccine mandates are causing people to reject open jobs that they would otherwise accept.

But I don’t think that those are the biggest reasons for the “worker shortage”.

The types of jobs where we are seeing the most severe shortages of workers are jobs that require long hours and hard physical work.  These days, there are millions upon millions of Americans that just don’t want to drive trucks, load trains, stock shelves or work at our ports.

Unfortunately, the machinery of our economy comes grinding to a halt without such workers, and we are seeing that right now.

These days, millions of Americans would rather stay home and collect government benefits rather than work a difficult low paying job.  In fact, the numbers clearly show that unemployed workers are going back to work much faster in states where enhanced unemployment benefits have been cut off.

That is an easy problem for our politicians to fix, but we are facing another growing trend that won’t be so easy to rectify.

Our young people are increasingly gravitating to the “Internet economy”.  They are figuring out that it doesn’t make much sense to put in endless hours at an entry level job when so many others are making big bucks as “social media influencers” instead.

During this pandemic, the White House has invited quite a few top “social media influencers” to the White House, but I don’t think that they have invited a single truck driver.

Of course there are others that have made millions upon millions of dollars buying and selling cryptocurrencies.

Nobody is ever going to become a millionaire unloading container ships, but tons of people have become millionaires by trading cryptos or by becoming social media celebrities.

So why should our young people choose to do the low paying work that nobody else wants to do, when the Internet offers so many other promising opportunities?

I believe that this is the biggest reason why the number of Americans that are employed is still more than 5 million less than it was just prior to the start of the pandemic

Nearly a year and a half into the recovery, the US economy remains 5.3 million jobs short of where it was in February 2020, before Covid-19 threw a wrench into the gears.

It has been reported that there are currently 9.8 million job openings in the United States.

If you want a job, you can go out and find one.

But the vast majority of the jobs that are available are low paying jobs that are not particularly pleasant.

And the rampant inflation that we are now experiencing is rapidly causing those jobs to lose the limited appeal that they once had.

In a desperate attempt to keep their low paid workforce, officials at Walmart just announced that they will be raising wages for hundreds of thousands of workers

Walmart is raising the pay for more than 565,000 store employees.

The world’s largest retailer announced Thursday that U.S. store workers in its frontend, food and consumable, and general merchandise workgroups will receive at least a $1 an hour raise.

Elsewhere, a McDonald’s in Oregon has now decided to hire kids as young as 14 after raising wages to 15 dollars an hour did not work

Businesses across the country are turning to teens as young as 14 to cope with a dire labor shortage, with one McDonald’s in Oregon drawing attention with a huge banner touting the new policy.

The McDonald’s franchise in Medford hung the banner after finding that raising the minimum wage to $15 didn’t bring in many new applications, but opening the door to younger applicants did, operator Heather Coleman told Business Insider.

And earlier today I was stunned to learn that Amazon has decided to start recruiting pot smokers to drive their delivery vehicles…

But it’s not just Amazon’s in-house workforce that needs expanding. Bloomberg reported Wednesday that Amazon has found a solution for the contract delivery drivers it uses to deliver packages from its fulfillment centers to customers’ doorsteps: Recruit pot smokers.

That’s right: despite the fact that driving while high on any substance is illegal, the company is advising its delivery partners to prominently advertise that they don’t screen applicants for marijuana use, according to emails between Amazon and contractors reviewed by Bloomberg.

But no matter what these companies do, it is just going to be really tough to recruit low paid workers in this environment because our leaders have flooded the system with so much cash.

Young people will continue to gravitate toward opportunities on the Internet that they think will make them rich, but meanwhile the machinery of our economy will continue to break down.

The widespread shortages that we have been witnessing just continue to get worse, and earlier today the Wall Street Journal ran a big story about the nightmare that the U.S. auto industry is currently facing…

The U.S. auto industry is heading into one of its biggest selling weekends of the year with dealership lots stripped bare of inventory and some buyers having to drive great distances to secure a new ride.

For a second year in a row, car shoppers are facing bleak prospects in trying to buy a car this Labor Day weekend. The period has historically been a time of blowout deals and big sales events for car companies and dealerships trying to clear out old vehicle stock to make way for the new model year.

On a very basic level, we need workers that will build stuff, move stuff and sell stuff.

Unfortunately, those jobs just aren’t very appealing today.

But if you think that you may want a job at some point in the foreseeable future, I would encourage you to grab one while you still can.

Because this current state of affairs will certainly not last indefinitely, and it won’t be too long before we see some pretty dramatic shifts in the employment marketplace.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” 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 “7 Year Apocalypse” is now available on Amazon.com.  In addition to my new book I have written five others that are available on Amazon.com including  “Lost Prophecies Of The Future Of America”“The Beginning Of The End”“Get 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 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 as many people as we possibly can.

Millions Of Low Paying “Jobs” Are Available, But Most Americans Can’t Afford To Take Them

There are more job openings in the United States than ever before, but the vast majority of the available “jobs” pay so little that most Americans don’t want them.  If working extremely long hours for some employer is not even going to lift you out of poverty, then you are probably better off taking whatever government assistance that you can get until a decent paying job eventually comes along.  For example, if you get a job that pays 10 dollars an hour and you work full-time hours every week, you will earn somewhere around $1,600 a month before taxes.  Needless to say, you can’t survive in most U.S. cities on $1,600 a month these days.  It would have been tough to make it on $1,600 a month before the pandemic, but now we are in a highly inflationary environment.  Housing costs are absolutely skyrocketing, health insurance premiums are at extremely ridiculous levels and food prices have been rising aggressively.  The higher the cost of living gets, the less attractive low paying jobs are going to become.

Having said that, it is still good news that the number of job openings is sitting at a record high right now…

Job openings in the U.S. rose slightly in May to a record 9.21 million, reflecting an insatiable demand for labor as the economy fully reopens and businesses scramble to keep up with soaring sales for their goods and services.

The number of available jobs has set a record for three straight months. Job openings had fallen to as low as 4.6 million last year after the coronavirus pandemic briefly shut down much of the economy.

Having lots of jobs available is better than not having a lot of jobs available, but of course the vast majority of those “jobs” could not support a middle class lifestyle for an average American family.

Some have been using the term “labor shortage” to describe what is going on out there, but in reality what we are really facing is a shortage of jobs that people are actually willing to work.

Even though there are supposedly so many “jobs” available at this moment, the unemployment rate in this country actually went up last month…

“There’s simply no labor shortage when you’re talking about finding house cleaners for a hotel — there is a shortage of workers who want to work at what you’re offering,” said Sylvia Allegretto, a UC Berkeley labor economist. She said the country is experiencing a “wage and benefits shortage.”

A labor shortage implies there aren’t enough available workers to fill open jobs, but this is not the case nationally, or in California. National unemployment in June was 5.9%, up from 5.8% in May, in part because the number of people looking for jobs grew, according to data from the Labor Department on Friday. California’s unemployment is tracking higher, at 7.9% in May.

Of course it doesn’t help that being unemployed pays quite handsomely in many states these days.

If you can make more money doing nothing, it simply doesn’t make sense to work.

In order to encourage more people to work, many large chains in the restaurant industry are now raising wages substantially

Job openings in the accommodation and food services sector increased from 1.16 million in April to 1.25 million in May.

To entice workers to stay — and to hire more people — restaurants have been raising wages. Darden Restaurants (DRI), which owns Olive Garden, announced in March that it is hiking pay. McDonald’s (MCD), too, announced wage hikes for employees at corporate-owned stores in May. Others have done the same.

Large corporate chains can do this because they have deep pockets.

But millions of small businesses all over the country that deeply struggled during the pandemic are not in the same position.

Ultimately, a lot of small business owners find themselves doing more and more of the work themselves because they simply can’t find enough people to work for the wages that they are offering.  Here is just one example

Jarvis Young, who owns a Papa John’s in Los Angeles with his wife, is struggling to staff up at all levels, from managers to delivery drivers. He employs 16 workers and said he needs closer to 23.

He has started borrowing employees from other Papa John’s franchises to keep up with demand. Until they hire one, his wife is acting as the general manager. The two of them sometimes deliver pizzas — not quite what they envisioned for themselves as franchise owners. “At the end of the day, this is our business,” he said.

Today, there are tens of millions of Americans that are considered to be among the “working poor”, and that number is growing with each passing day.

The cost of living is rising far faster than our paychecks are, and an increasing number of Americans are not even able to afford the basics.

For instance, everyone needs a place to live.  Unfortunately, home prices have surged so dramatically this year that the percentage of Americans that say that it is a “bad time to buy a home” has risen to the highest level ever recorded

The percentage who said that it was a “bad time to buy a home” spiked over the past three months from record to record and in June hit 64%. Consumers cited home prices as the predominant reason.

A record low 32% of the respondents said that it was still a good time to buy a home, while the percentage of fence-sitters who didn’t know dropped to 4%.

And just trying to buy enough food to eat is becoming a challenge for a lot of people.

When I went to the grocery store this week, I was stunned to see how high prices had become.  Of course some manufacturers are trying to hide price increases by shrinking the sizes of their packages, and this is something that NPR did an article on the other day

A couple of weeks ago, Edgar Dworsky walked into a Stop & Shop grocery store in Somerville, Mass., like a detective entering a murder scene.

He stepped into the cereal aisle, where he hoped to find the smoking gun. He scanned the shelves. Oh no, he thought. He was too late. The store had already replaced old General Mills cereal boxes — such as Cheerios and Cocoa Puffs — with newer ones. It was as though the suspect’s fingerprints had been wiped clean.

But Dworsky’s story didn’t end there.  He decided to check out the back of the store, and it was there that he discovered what he was searching for...

Then Dworsky headed toward the back of the store. Sure enough, old boxes of Cocoa Puffs and Apple Cinnamon Cheerios were stacked at the end of one of the aisles. He grabbed an old box of Cocoa Puffs and put it side by side with the new one. Aha! The tip he had received was right on the money. General Mills had downsized the contents of its “family size” boxes from 19.3 ounces to 18.1 ounces.

Dworsky went to the checkout aisle, and both boxes — gasp! — were the same price. It was an open-and-shut case: General Mills is yet another perpetrator of “shrinkflation.”

As I discussed a few days ago, we are going to be in a high inflation environment for the foreseeable future.

That means that low paying jobs will just become less and less attractive.

So employers can boast that they have as many “job openings” as they want, but if wage growth continues to lag way behind the real rate of inflation most of those jobs will continue to remain empty.

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

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

We Are Experiencing Economic Devastation On A Scale That America Has Never Seen Before

For a very long time we have been warned that a U.S. economic collapse was inevitably coming, and now it is here.  Fear of COVID-19 and unprecedented civil unrest in our major cities have combined to plunge us into a historic economic downturn, and nobody is exactly sure what is going to happen next.  On Thursday, we learned that U.S. GDP was down 32.9 percent on an annualized basis last quarter.  That officially makes last quarter the worst quarter in all of U.S. history, and many people believe that this new economic depression is just getting started.  But of course not all areas of the country are being affected equally.  According to USA Today, states such as Hawaii, Nevada, Michigan and New York were hit particularly hard last quarter…

Every state was walloped last quarter, though ones that rely heavily on travel and tourism, such as Hawaii and Nevada, were hit hardest by the downturn, according to employment figures analyzed by economist Adam Kamins of Moody’s Analytics. Michigan, the heart of the nation’s auto industry, was slammed as consumers put off car purchases. And densely populated Northeast states struck by the most severe virus outbreaks – like New York, New Jersey and Massachusetts – absorbed among the heaviest economic losses as governors shut down earlier and residents stayed home.

Originally, the mainstream media was telling us that the U.S. economy would come surging back to life during the third quarter, but we continue to get more signs that indicate that the economy is starting to slow down again.

For example, the Labor Department just released some new numbers that were more than just a little bit startling.  If you can believe it, another 1.434 million Americans filed new claims for unemployment benefits last week.  That was an increase over last week’s revised number, and it represents the second week in a row that initial claims have risen.

Overall, new claims for unemployment benefits have now been above one million for 19 weeks in a row.

Personally, I don’t know how this is even possible.  Prior to this year, the all-time record for a single week was just 695,000.  The numbers that we have been getting week after week are so obscene that they are truly difficult to believe.

Overall, a grand total of more than 54 million Americans have filed new claims for unemployment benefits during the last 19 weeks.

But there were only 152 million Americans working when employment peaked back in February.  So how is it possible that 54 million workers have filed initial claims for unemployment benefits so far this year?

Have things really gotten that bad?

Maybe they have.  Bloomberg just reported on a recent Census Bureau survey that found that 30 million Americans claim that they did not have enough food to eat during the week that ended on July 21st…

Food insecurity for U.S. households last week reached its highest reported level since the Census Bureau started tracking the data in May, with almost 30 million Americans reporting that they’d not had enough to eat at some point in the seven days through July 21.

In the bureau’s weekly Household Pulse Survey, roughly 23.9 million of 249 million respondents indicated they had “sometimes not enough to eat” for the week ended July 21, while about 5.42 million indicated they had “often not enough to eat.”

Once again, those numbers are so shocking that they are hard for me to believe.

Are there really tens of millions of Americans that cannot afford three meals a day right now?

Maybe there are, but it is still difficult to grasp the fact that we have fallen so far in such a short period of time.

Meanwhile, we just got more bad news about the restaurant industry.  According to the National Restaurant Association, at least 15 percent of all restaurants in the entire country will be shutting down.  The following comes from Zero Hedge

The National Restaurant Association has determined that at least 15% of all restaurants will close. This number could be a lot higher at the end of the year as Goldman Sachs reports the economic recovery is now reversing.

Small restaurant operators, who fear a double-dip recession, have now resorted to liquidating their eateries on Facebook Marketplace.

A simple search of “restaurant” on Facebook Marketplace, within 80 miles of Trenton, New Jersey, comes up with dozens and dozens and dozens of mom and pop eateries that are trying to get out of the game.

Actually, if we only lose 15 percent of our restaurants we should hold a massive celebration, because that will be a rip-roaring victory.

As fear of COVID-19 stretches on month after month, and as civil unrest becomes even worse, it will become increasingly difficult for restaurants, bars, movie theaters and other establishments where the public gathers to survive.

In the end, I think that we are going to lose hundreds of thousands of restaurants, and it deeply grieves me to say that.

Of course every industry is going to be devastated by this new economic depression, and even the biggest names are going to get hit really hard.

In fact, you know that things are starting to get really bad when even Walmart starts laying off workers

Walmart Inc. is joining the ranks of Macy’s and L Brands in eliminating hundreds of corporate jobs in order to cut costs.

Employees in the mega-retailer’s store planning, logistics, and real estate units have reportedly received pink slips, reported Bloomberg Thursday

If Walmart executives truly believed that the U.S. economy was going to be returning to normal, they would not have made such a move.

But at this point it should be clear to everyone that there isn’t going to be a return to normal.

Very challenging times are on the horizon, and what we have experienced so far is just the tip of the iceberg.

More big corporations are going to go bankrupt, more businesses are going to fail, more workers are going to be laid off, and the financial dominoes are going to start to fall at a pace that is absolutely breathtaking.

So many of the things that myself and so many other economic writers have been warning about are starting to happen.

A great unraveling has begun, and it is imperative for all of us to find a way to survive the severe economic pain that is ahead of us.

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

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.  By purchasing the book 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.  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)  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 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 as many people as we possibly can.

Close To Half Of All Working Age Adults In The United States Do Not Have A Job Right Now

There is a lot of talk about the “unemployment rate” these days, but the way that it is calculated has become so convoluted that it is not really that meaningful anymore.  Even during the so-called “good times”, more than 100 million U.S. adults were not working, but we were told that the unemployment rate was the lowest that it had been in decades.  Of course now everything has changed.  Since this pandemic began, more than 47 million Americans have filed new claims for unemployment benefits, and the mainstream media is going to make sure that fear of COVID-19 continues to paralyze our society for the foreseeable future.

In this article, I would like to discuss the employment-population ratio.  According to Wikipedia, the employment-population ratio is “a statistical ratio that measures the proportion of the country’s working age population that is employed”.  I believe that it is a far more accurate measurement than the “unemployment rate” is, and we have seen this ratio move quite dramatically over the past couple of months.  According to CNBC, the employment-population ratio hit 52.8 percent in May, and that means that 47.2 percent of all working age Americans did not have a job…

Nearly half of the population is still out of a job showing just how far the U.S. labor market has to heal in the wake of the coronavirus.

The employment-population ratio — the number of employed people as a percentage of the U.S. adult population — plunged to 52.8% in May, meaning 47.2% of Americans are jobless, according to Bureau of Labor Statistics. As the coronavirus-induced shutdowns tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.

As you can see on this chart, we are definitely in unchartered territory.

We have never seen a collapse of this magnitude in all of U.S. history, and it has been truly horrifying to watch so many people lose their jobs.

It would be difficult to overstate just how far we have fallen.  One analyst has pointed out that it would take 30 million new jobs for the employment-population ratio to return to the peak that we witnessed all the way back in 2000…

“To get the employment-to-population ratio back to where it was at its peak in 2000 we need to create 30 million jobs,” Torsten Slok, Deutsche Bank’s chief economist, said in an email.

Of course before we can start adding jobs we have got to stop the bleeding first, and at this point more than a million Americans continue to file new claims for unemployment benefits each and every week.

And more job losses are coming, because companies are shutting down at a staggering rate.  In fact, this week USA Today warned that “experts believe this is just the beginning of a bankruptcy tsunami that will wash over the country’s largest companies this summer”…

Twelve midsize to large corporations – all with more than $10 million in debt – filed for Chapter 11 bankruptcy protection during the third week of June, another consequence of the coronavirus pandemic and continued trouble in America’s oil industry.

The filings represent the highest weekly total of the year, and experts believe this is just the beginning of a bankruptcy tsunami that will wash over the country’s largest companies this summer and then drench both smaller businesses and individuals if government stimulus money dries up.

Those two paragraphs almost sound like something that I could have written.

But at this point it is very difficult for anyone to deny how bad things have become.  So many firms are suddenly going bankrupt that it is impossible to keep up with them all, and the energy industry is being hit particularly hard

At least 24 oil and gas companies filed from April through June – nearly twice as many as during the first three months of the year, according to Haynes and Boone LLP, an international law firm based in Texas. Four of those companies – Texas-based NorthEast Gas Generation, Colorado-based Extraction Oil & Gas, and Chisolm Oil and Gas and Chesapeake Energy, which are both from Oklahoma – filed in the last two weeks of June.

“This trend should continue through the remainder of 2020 and into 2021,” said Charles Beckham, a partner in Haynes and Boone’s restructuring practice.

Of course it isn’t just the U.S. that is experiencing severe economic pain.

COVID-19 has paralyzed economies all over the planet, and global trade has dropped precipitously

World trade in goods plunged by 12% in April from March, after having already dropped 2.4% in March from February. This plunge of the Merchandise World Trade Monitor, released by CPB Netherlands Bureau for Economic Policy Analysis, was by far the largest month-to-month drop in the history of the data going back to 2000.

For such a long time, many were warning that “the next global depression” was coming, and now it is here.

Many of the economic optimists had been hoping for a very short downturn followed by a “V-shaped recovery”, but now it has become clear that is simply not going to happen.

The primary factor dragging our economy down is fear of COVID-19, and the mainstream media continues to add to that fear day after day.

Over the past couple of weeks, we have seen a surge of new cases in some portions of the U.S., and this has caused quite a few states to put a hold on their reopening plans

At least 14 states have paused or rolled back their reopening plans as the United States sees a surge in coronavirus cases across the country.

With July 4 celebrations approaching, officials are trying not to repeat scenes from Memorial Day, when thousands flocked to beaches, bars and parties while experts cautioned that crowds could lead to spikes in cases down the road.

I wish that I could tell you that things will soon get much better for the U.S. economy, but I can’t.

Yes, there will be ups and downs during the months ahead, but a return to “normal” is certainly not in the cards.

So I would definitely encourage everyone to use this window of opportunity to get prepared for rough times ahead, because we are about to see things happen that we have never seen before.

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 as many people as we possibly can.

We Just Got Some Good Economic News

When some good economic news comes along, we should be thankful for it, because such moments are becoming increasingly rare.  On Friday, the Labor Department announced that the U.S. economy added 128,000 jobs last month, and that definitely exceeded expectations.  Of course the truth is that the U.S. economy didn’t actually add 128,000 jobs last month.  That number is just a heavily manipulated estimate that is adjusted to smooth out “seasonal fluctuations”, and it will be revised multiple times in the future as more data becomes available.  In other words, the government is giving us an educated guess about what they think might have happened, and it is based on certain assumptions that may or may not be reasonable.  But considering all of the other horrible economic news that we have been getting lately, any number above zero is a reason to celebrate.  The employment situation in this country still appears to be relatively stable, and we should hope that continues to be the case for as long as possible.

Of course nobody should be using words like “boom” or “booming” to describe what is happening.  An increase of 128,000 jobs in one month is not nearly enough to keep up with population growth.

So if the U.S. economy actually did add 128,000 jobs last month, the truth is that we would actually be losing ground.

But at least the jobs number was significantly better that most analysts were projecting

Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations.

Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating.

Hopefully we can have at least a couple more months like this one before the job losses really start becoming severe.

But this is definitely not an indication that the U.S. economy is heading in the right direction.  Because job gains did not keep up with population growth, it makes sense that the unemployment rate actually went up last month

The unemployment rate, which is calculated from a different survey, rose from a 50-year low of 3.5% to 3.6%, the Labor Department said Friday. That’s because a strong increase in employment was offset by an even bigger rise in the labor force, which includes Americans working and looking for jobs.

Also, it is very important that you do not let that “3.6 percent” figure fool you.

As John Williams has documented, if honest numbers were being used the unemployment rate in the United States would currently be 21 percent.  That is down a couple of percent from the peak of the last employment crisis, but it is still not good at all.

And even though the jobs number that we just got was good news, more bad economic news continues to pour in at an alarming rate.  According to the latest projection from the Federal Reserve Bank of Atlanta, the U.S. economy is on track to grow at a rate of just 1.1 percent in the fourth quarter…

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 1.1 percent on November 1, down from 1.5 percent on October 31. After this morning’s release of the employment report by the U.S. Bureau of Labor Statistics, the Manufacturing ISM Report On Business from the Institute for Supply Management, and the construction spending report from the U.S. Census Bureau, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth decreased from 2.3 percent and -0.7 percent, respectively, to 2.2 percent and -2.5 percent, respectively.

That is horrible, but at least it is still a number that is above zero.

Unfortunately, GDP growth for our neighbor to the south has already fallen below that line.  The following comes from Wolf Richter

In the third quarter of 2019, Mexico notched up its first year-over-year decline in GDP since the final quarter of 2009, when it was in the midst of a sharp recession brought on by the Financial Crisis. According to a preliminary estimate published by Mexico’s statistical institute INEGI, in the third quarter, the economy shrank 0.4% compared with the same quarter a year earlier.

So what should we make of all this?

Clearly, the U.S. economy is slowing down.  The temporary reprieve that we have been enjoying for the past few years appears to be ending, but the jobs number that we got today indicates that it is not done quite yet.

Ultimately, that is good news.

One of the most precious resources that any of us has is time.  If the U.S. economy can remain at least somewhat stable for a little while longer, that buys us some time, and all of us should be using that time wisely.

Because the truth is that the clock is ticking, and economic conditions in the United States are about to make a dramatic turn for the worse.

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 can only allow this to happen if this “About the Author” section is included with each article.  In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished.  This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.

The Economic Collapse