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Drumbeats of the Epocalypse: The Economic Death March Has Come to Town!
Drumbeats of the Epocalypse: The Economic Death March Has Come to Town! The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said.… “This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars […]
Americans Have Already Skipped Payments On More Than 100 Million Loans, And Job Losses Continue To Escalate
Americans Have Already Skipped Payments On More Than 100 Million Loans, And Job Losses Continue To Escalate Those that have been hoping for some sort of a “V-shaped recovery” have had their hopes completely dashed. U.S. workers continue to lose jobs at a staggering rate, and economic activity continues to remain at deeply suppressed levels […]
No, The U.S. Economy Will Definitely Not Be Returning To “Normal”. In Fact, Things Will Soon Get Even Worse.
No, The U.S. Economy Will Definitely Not Be Returning To “Normal”. In Fact, Things Will Soon Get Even Worse. 2020 has been quite a year so far. It has been one nightmare after another, and yet the economic optimists continue to insist that economic activity will soon snap back to normal levels somehow. So the […]
Most U.S. States Have ‘Reopened’ Their Economies, So Why Does Unemployment Continue To Spiral Out Of Control?
Most U.S. States Have ‘Reopened’ Their Economies, So Why Does Unemployment Continue To Spiral Out Of Control? This wasn’t supposed to happen. Once states started to “reopen” their economies, the tsunami of unemployment was supposed to end. But instead, we continue to see Americans lose jobs at a pace that is far beyond anything we […]
10 Numbers That Show The U.S. Has Fallen Into A Horrifying Economic Depression
10 Numbers That Show The U.S. Has Fallen Into A Horrifying Economic Depression The last recession was really, really bad, but it was never like this. It is time for us to face reality, and that means admitting that the U.S. economy has plunged into a depression. This is already the worst economic downturn that […]
A Taste Of What Is Coming – Food Prices Just Increased By The Most That We Have Seen Since 1974
A Taste Of What Is Coming – Food Prices Just Increased By The Most That We Have Seen Since 1974 Get ready to pay much more for groceries. I have been warning that the flood of new money that the Federal Reserve and Congress have been pumping into the system would have very serious consequences, […]
U.S. Depression? The V-Shaped Recovery Fades Away
U.S. Depression? The V-Shaped Recovery Fades Away The recent jobless claims figures show how difficult it will be for the U.S. recovery to be as quick and strong as initially expected. 7.7 million jobs were lost in Hospitality and Leisure in April, 2.5 million in Education and Health, with 2 million in Retail and another 2 million […]
We Are Witnessing Economic Carnage Like We Have Never Seen Before, And The Economy Is Going To Continue To Bleed Jobs
We Are Witnessing Economic Carnage Like We Have Never Seen Before, And The Economy Is Going To Continue To Bleed Jobs Now we are up to 33.5 million jobs lost. In just 7 weeks, the U.S. economy has been completely turned upside down, and the numbers are unlike anything that we have ever seen before. […]
Straight Talk
Straight Talk We live through very unique times, not only because of the shock of the coronavirus that recently hit the world unexpectedly, but also because of large complex structural issues that have been building for decades. A popular mantra says the stock market is not the economy and the economy is not the stock […]
Oil flows spell deep depression
Oil flows spell deep depression Energy is not just one commodity among many in the economy; it is the commodity. Without energy, nothing gets done. And, oil is not just one form of energy in the energy commodity complex; it is the energy source upon which our modern way of life depends. In fact, it is the main energy […]
National Guard Deployed At Nation’s Food Banks To Ensure Stability During Unprecedented Times
National Guard Deployed At Nation’s Food Banks To Ensure Stability During Unprecedented Times There is increasing evidence on social media that the National Guard has been deployed to the nation’s food banks to ensure food supply chain networks are not severed, and shortages do not materialize. This comes at a challenging period for the country, […]
When Economic Depression Follows Pandemic, No Time to Waste
When Economic Depression Follows Pandemic, No Time to Waste What the Bank of Canada and IMF see coming will demand bold stimulus. It is still sinking in that the end of the pandemic will not be the end of our troubles. On the contrary — we will likely see the end of the pandemic overlap […]
America’s New Breadlines Are Growing…
America’s New Breadlines Are Growing… Over the past month, the American economy has collapsed into a depression, with the most significant unemployment spike in history. Millions of people have just lost their jobs, and as we’ve been documenting, food bank networks across the country are becoming overwhelmed. We recently said that some food banks had seen an eightfold […]
The worst economic collapse ever?
The worst economic collapse ever? Country after country has reported extremely dark economic numbers. The gigantic jobless claims, 6.6 million from the U.S. last week, are just the tip of the iceberg. For example, the service sector PMIshave been simply ghastly across the globe. We are now in a crisis of epic proportions. But, how massive […]
