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

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.

…click on the above link to read the rest of the article…

The Collapse Will Be Visible: “For Lease” And “Space Available” Signs Are Starting To Go Up All Over America

The Collapse Will Be Visible: “For Lease” And “Space Available” Signs Are Starting To Go Up All Over America

Initially, we were told that the coronavirus lockdowns would just “temporarily” disrupt the U.S. economy, but now it is becoming clear that a lot of the damage will be permanent.  We are starting to see businesses go belly up all over the country, and this includes some of the most iconic names in the retail world.  When J.C. Penney announced that it would be declaring bankruptcy and closing hundreds of stores, I warned that would just be the tip of the iceberg, and that has definitely turned out to be the case.  In fact, on Wednesday many analysts were absolutely shocked when news broke that Victoria’s Secret has decided to shut down about 250 stores

Victoria’s Secret plans to permanently close approximately 250 stores in the U.S. and Canada in 2020, its parent company L Brands announced Wednesday.

L Brands also plans to permanently close 50 Bath & Body Works stores in the U.S. and one in Canada, according to information the company posted online as part of its quarterly earnings.

If this pandemic had passed quickly, perhaps those stores wouldn’t have needed to be shut down.  But at this point it has become obvious that this virus is going to be with us for a long time to come.  In fact, the WHO just announced that on a global basis we just witnessed the largest number of newly confirmed cases on a single day so far.

Another major retailer that is closing down stores is Pier 1 Imports.  In fact, it is being reported that not a single one of their locations will survive

Pier 1 Imports, which previously said it would close half of its fleet of stores, now plans to close all of its locations.

The retailer, based in Fort Worth, Texas, announced in a news release Tuesday that it was seeking bankruptcy court approval to begin an “orderly wind-down” when stores are able to reopen “following the government-mandated closures during the COVID-19 pandemic.”

I was never a huge fan of Pier 1 Imports, but my wife liked to visit and see what they had, but now we will never be able to do that again.

…click on the above link to read the rest of the article…

Pandemic And Economic Collapse: The Next 60 Days

Pandemic And Economic Collapse: The Next 60 Days

The news cycle moves so quickly these days writing analysis on current events becomes difficult; the moment you publish an examination of the situation people have already moved on to the next disaster. So, today I’m not going to do that. Instead, let’s look at current trends and project what is likely to happen in the next couple of months. In my article ‘How The Pandemic Crisis Will Probably Develop Over The Next Year’ published in early March, I outlined what I believed would be the major developments on a longer timetable. Some of these predictions have already occurred.

Now I would like to tackle a shorter timetable and focus more specifically on the economic side of things, along with the effects of government lockdowns and how they will continue. Yes, that’s right, if you think the “reopening” of the economy is going to be widespread, or that it will last, don’t get your hopes up. I am using a 60 day model because I have observed that the average non-aware person appears to be about two months behind those of us in the liberty movement in terms of seeing the dangers ahead.

First and foremost, the lockdown issue is on almost everyone’s mind, and as I’ve been saying for the past month, it would not take long before people start freaking out about their financial prospects once they realize this thing may not be over “in two weeks” as we keep hearing every two weeks from the mainstream media, state governments and Donald Trump. The “two weeks until reopen” mantra is designed to keep the public placated and docile, and the establishment will continue to use it until people are finally fed up, which is already beginning to happen.

…click on the above link to read the rest of the article…

The Real Causes for the Oncoming Economic Collapse

The Real Causes for the Oncoming Economic Collapse 

This Thursday, the markets took a 1000 point hit which was more than a little startling for many investors since the last 1000 point fall only happened three days prior… all in all bringing the financial markets to lows not seen since April 2011, and veering dangerously close to a precipice which has 1929 written all over it. Across the internet, panicky discussion has erupted over whether this foretells another 1987 collapse as Donald Trump warned, or something more akin to Black Tuesday of 1929. Others have pondered whether this is more similar to a 1923 Weimar hyperinflation where Germans became millionaires overnight (not much to celebrate when bread costs billions).

The fact of the oncoming collapse itself should not be a surprise- especially when one is reminded of the $1.5 quadrillion of derivatives which has taken over a world economy which generates a mere $80 trillion/year in measurable goods and trade. These nebulous bets on insurance on bets on collateralized debts known as derivatives didn’t even exist a few decades ago, and the fact is that no matter what the Federal Reserve and European Central Bank have attempted to do to stop a new rupture of this overextended casino bubble of an economy in recent months, nothing has worked. Zero to negative percent interest rates haven’t worked, opening overnight repo loans of $100 billion/night to failing banks hasn’t worked- nor has the return of quantitative easing which restarted on October 17 in earnest. No matter what these financial wizards try to do, things just keep getting worse. Rather than acknowledge what is actually happening, scapegoats have been selected to shift the blame away from reality to the point that the current crisis is actually being blamed on the Coronavirus!

…click on the above link to read the rest of the article…

Personal Politics, Public Impeachment, Persuasion and Post-Apocalyptic Planning

Personal Politics, Public Impeachment, Persuasion and Post-Apocalyptic Planning

One of my primary concerns regarding the forthcoming economic chaos and societal breakdown is that there will be nowhere to run and nowhere to hide. As normalcy bias evaporates like tears on dehydrated sunken cheeks, hungry neighbors and pre-collapse friends and acquaintances will soon assimilate into zombie hoards and come knocking like its Halloween.

What are you going to do? Shoot them?

Regardless, saying “I told you so” or “I tried to warn you, but you didn’t listen” will not be an effective deterrent. Furthermore, the resultant chaos will also deliver local strongmen and gangs ready to thieve and plunder amidst widespread violence and starvation.

In such a scenario, any lone bananas are sure to be skinned.

Are you ready?

Because very few will have the opportunity to bug out to a remote location and surprisingly, an isolated cabin in the woods, or a fenced-off hidden homestead in a rural area may not be best after all.  Take it from Fernando Ferfal Aguirre, who survived the economic collapse in Argentina.  In his book, “Surviving the Economic Collapse”, he described geographic areas as like organisms dying; where the extremities perish first. Aguirre identifies the urban areas as the safer places to work, trade, and live; with the rural areas as targets for roving gangs to raid and set up camp out of the reach of city services, police, and fire departments.

Therefore, since we know the endgame, what if we could parlay that into building trust with others now?   Perhaps entire regions could be fortified in a balkanized America, simply by reorganizing current civil administrations.  All that would be required would be for the heads of select institutions and agencies to work in coordination, quickly, and decisively as the proverbial excrement collides into the whirling flabellum. Roving bands, gangs, cartels, and feral feds, might then decide to move on to easier targets.

 …click on the above link to read the rest of the article…

Central Bank Hints at a “Big Reset” and Reveals a Possible Solution

world economic collapse

Central Bank Hints at a “Big Reset” and Reveals a Possible Solution

It’s not every day you hear a major financial institution hint at the possibility of the entire economic system collapsing.

The reason major financial institutions (and the mainstream financial media) shy away from a negative outlook on the economy is out of fear of triggering a kind of “self-fulfilling prophecy.” People stampeding to sell stocks and pull money out of banks could cause a vicious cycle of declines and losses.

And so these institutions tend to be positive, no matter what is really happening. But if a hungry bear is standing behind you in the woods, do you want to be “optimistic” and hope it isn’t there?

Maybe reality has finally started to sink in. Zero Hedge captured the stark state of the “system” by quoting an article from the Dutch Central Bank:

An article published by the De Nederlandsche Bank (DNB), or Dutch Central Bank, has shocked many with its claim that “if the system collapses, the gold stock can serve as a basis to build it up again. Gold bolsters confidence in the stability of the central bank’s balance sheet and creates a sense of security.”

After a part of the international banking system states the words “if the system collapses”, the obvious question to ask is:

Do they think the system will actually collapse?

Of course, it’s hard to tell exactly what will happen, and when.

That said, the DNB is moving about 31% of their gold to a military facility. They stated, “The Dutch central bank is moving part of the national gold reserves to a temporary home in Haarlem ahead of a permanent move to the new DNB Cash Centre at military premises in Zeist.”

 …click on the above link to read the rest of the article…

Economic Collapse Imminent: Zimbabwe At ‘Tipping Point’ With ‘Wheels Coming Off’

Economic Collapse Imminent: Zimbabwe At ‘Tipping Point’ With ‘Wheels Coming Off’ 

Zimbabwe’s economic situation will continue to sour in 2H19 due to unfavorable weather conditions, foreign currency shortages and widespread power cuts, its finance minister said, as he responded to a deteriorating economic outlook by blacking out inflation statistics through the second half, and finally acknowledged what the International Monetary Fund told him in April: economic turmoil ahead.

Prices of essential goods and services have, in some cases, quadrupled this summer, due to the government renaming the RTGS currency as the Zimbabwe dollar, which has been on a rapid decline amid shortages, including electrical power, petrol products, American dollars, and food, reported Bloomberg.

Many Zimbabweans who supported the toppling of decades-long ruler Robert Mugabe two years ago are discovering that their economic situation is the most serious in a decade.

Emmerson Mnangagwa replaced Mugabe in 2017, he promised millions of Zimbabweans of an economic revival and that we are “open for business.” The sugar high of optimism only lasted for a short time; the effects of money supply expansion through the sale of Treasury bills under Mugabe’s rule has outweighed any positive advancements in the last several years. Mnangagwa outlawed the American dollar in favor of local currency that can’t be traded internationally, effectively making it extremely difficult for international firms to do business in the African country.

“Zimbabwe is at a tipping point and if it falls over the edge it’s going to be quite a long way in coming back,” said Derek Matyszak, a Zimbabwe-based research consultant for South Africa’s Institute for Security Studies. “The wheels are falling off. There is no way out of a Ponzi scheme other than a massive infusion of cash to pay off your creditors.”
*chart

 …click on the above link to read the rest of the article…

The climate change story is half true

The climate change story is half true

The climate change story is true is some respects: The climate is indeed changing. And CO2 emissions do seem to affect climate. Burning fossil fuels does indeed make a difference in CO2 levels.

The problem I have with the climate change story is that it paints a totally inaccurate story of the predicament the world is facing. The world’s predicament arises primarily from too little affordable resources, especially energy resources; climate change models tend to give the illusion that our problem is one of a superabundance of fossil fuels.

Furthermore, the world economy has no real option of using significantly less energy, because the economy tends to collapse when there is not enough energy. Economists have not studied the physics of how a networked economy really works; they rely on an overly simple supply and demand model that seems to suggest that prices can rise endlessly.

Figure 1. Supply and Demand model from Wikipedia.
Attribution: SilverStar at English Wikipedia CC BY 2.5 (http://creativecommons.org/licenses/by/2.5)%5D, via Wikimedia Commons

The quantity of energy supply affects both the supply and demand of finished goods and services. History shows that the result of inadequate energy supplies is often collapse or a resource war, in an attempt to obtain more of the necessary resources.

Climate scientists aren’t expected to be economists, but have inadvertently picked up the wrong views of economists and allowed them to affect the climate models they produce. This results in an over-focus on climate issues and an under-focus on the real issues at hand.

Let’s look at a few issues related to the climate change story.

[1] Growth in energy consumption and in world GDP are very closely linked. In fact, energy consumption seems to be the cause of GDP growth.

 …click on the above link to read the rest of the article…

Globalists Are Bringing Their One World Currency Plans Out Into The Open

Globalists Are Bringing Their One World Currency Plans Out Into The Open

People often ask me when they should begin to worry about the agenda for the “global economic reset” and the controlled demolition of the economy? If economic collapse is a process rather than an event, at what point in the process will we start to feel direct consequences? While crash conditions in economic fundamentals have indeed already started in the final quarter of 2018, culminating in faltering housing and retail numbers as well as an inverted yield curve, the average person is only affected so far in a minor way. It’s true – even during the greatest of financial depressions, only a part of the population suffers while the rest live somewhat normally.

This “relativity” in crisis changes, though, when we start talking about a currency collapse. In the event that the primary mechanism for exchange becomes unstable, as in Weimar Germany in the 1920’s or in Argentina in the early 2000’s, the damage to the public is almost universal except for the elitist class. In the midst of stagflationary headwinds, many people could still live a comfortable life given they are willing to make some sacrifices. But, in the midst of a currency implosion, anyone who is ill prepared will have to face the pain.

As far as timing is concerned, we can make educated guesses according to the evidence, but there is no exact science to predicting when the globalists will pull the plug completely on economic life support. They will trigger a disaster when the timing most suits them. However, I do believe there are signals to watch for.

 …click on the above link to read the rest of the article…

Preppers save for a rainy day: Why financial planning is crucial for surviving an economic downturn

Preppers save for a rainy day: Why financial planning is crucial for surviving an economic downturn

Image: Preppers save for a rainy day: Why financial planning is crucial for surviving an economic downturn

(Natural News) As a prepper, one of the first things that you need to learn is the importance of financial preparedness. Don’t wait until an economic collapse before you start settling your debts or saving money. (h/t to TimGamble.com)

The basics of financial preparedness

Personal, business, or government debt is bad. It will stress you out, and it makes you more vulnerable to economic downturns.

To become financially prepared, you must first eliminate consumer debt. This includes credit cards, car loans, payday loans, personal loan, and installment plans.

To clear your debts, you may need to make sacrifices, such as:

  • Putting off major purchases.
  • Avoiding impulse purchases (e.g. luxury items, etc).
  • Bringing your own lunch to school or work.
  • Having a major yard sale to raise some money.
  • Starting a second job.

Making these sacrifices may seem hard, but keep in mind that in the end, the benefits will be more than worth it. (Related: 7 obvious warning signs we are heading for an economic meltdown.)

Second, you need to have emergency savings. Start by holding yard sales or getting a second job. Put the money somewhere safe, such as an insured certificate of deposit(CD). A CD is a type of federally insured savings account with a fixed interest rate and fixed date of withdrawal or maturity date. CDs don’t usually have monthly fees and they are different from traditional savings accounts in several ways. Savings accounts let you deposit and withdraw funds rather freely.

However, with a CD you agree to leave your money in the bank for a set amount of time (know as the “term length”). If you do access the money in a CD, you will need to pay a penalty. Term lengths can range from several days to a decade. The standard range of options for CDs is between three months and five years.

 …click on the above link to read the rest of the article…

‘The Uninhabitable Earth’ puts words to a future you don’t want to live in

‘The Uninhabitable Earth’ puts words to a future you don’t want to live in

Prepare yourself for grisly descriptions of how the body breaks down in overwhelming heat, predictions of prehistoric plagues springing back to life beneath melting permafrost, and the possibility of an economic collapse several times worse than the Great Depression.

David Wallace-Wells’ dystopian vision of where we’re headed is guaranteed to scare the bejesus out of readers of his new book, The Uninhabitable Earth. Some will surely have to look away. Wallace-Wells, perhaps surprisingly, seems OK with that. More than a hundred pages in, he writes, “If you have made it this far, you are a brave reader.”

Based on the viral New York Magazine article that portrayed out a hellish future for humanity, the 230-page book is an immersion in seemingly all of the worst-case climate scenarios. It’s terrifying. The point is to get readers to confront “the scarier implications of the science,” Wallace-Wells told me an in email. More terrifying still: There are scarier scenarios that he didn’t touch.

When his original magazine article came out in 2017, science communicators and climatologists like Michael Mann criticized it for being “overly bleak.” Wallace-Wells argues that our dire situation merits an array of storytelling approaches, including ones that embrace the worst possibilities.

“[T]here is no single way to best tell the story of climate change, no single rhetorical approach likely to work on a given audience, and none too dangerous to try,” he writes in the new book. “Any story that sticks is a good one.”

Probably to distance myself from the book’s intentionally upsetting depictions of our predicament, I started writing down all the new words and phrases I encountered while reading it. (Yes, Grist writers have coping mechanisms, too.)

 …click on the above link to read the rest of the article…

Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World

Zimbabwe is once again at the brink of economic collapse, making a mockery of President Emmerson Mnangagwa’s claim that the country is open for business.

As Bloomberg reports,  many shops and factories have shut their doors because of a lack of customers and those that continue to trade are open to haggling over prices to secure hard currency. At an appliance shop in the capital, Harare, a salesman whispers that a Whirlpool Corp. washing machine priced at about $5,000 if paid for electronically will sell for $1,500 in cash, while at a nearby electrical warehouse, a $600 invoice is whittled down to $145 for payment in dollar bills.

But, as OilPrice.com’s Tsvetana Paraskova reports, Zimbabwe is on a three-day nationwide strike and protests are erupting in the streets after the government of the southern African country doubled fuel prices, making gasoline sold in Zimbabwe the most expensive gasoline in the world.  

Zimbabwe is in the midst of an economic crisis and a shortage of foreign exchange, which has led to fuel and bread shortages, and many companies have stopped working because they can’t import raw materials.

Following hyperinflation in 2009, Zimbabwe abolished its own currency and has been using the U.S. dollar and South African rand instead.

But the economic crisis and foreign currency shortages has prompted the government to say over the weekend that it would introduce a new currency of its own in the next 12 months.

However, the policy that really sparked protests and calls for a national stay-away was the sharp increase of fuel prices over the weekend.

According to Zimbabwe’s President Emmerson Mnangagwa – who succeeded the president of 38 years Robert Mugabe in November 2017 – the doubling of the fuel prices would help ease fuel shortages

…click on the above link to read the rest of the article…

My Speech in the European Parliament on the Coming Economic Collapse

Zero percent interest rates have created the largest bubble in human history, when it bursts it will be worse than 1929.

Here’s What an American Economic Collapse Could Actually Look Like (And How It May Be a Lot Different Than Folks Expect)

Here’s What an American Economic Collapse Could Actually Look Like (And How It May Be a Lot Different Than Folks Expect)

When we think of “economic collapse” our imaginations usually lead us immediately to the desperation we’ve witnessed in places like Venezuela or Greece. We think of starvation, a complete lack of medical care, and waves of suicide by people who simply can’t survive. We imagine an apocalyptic societal breakdown that is immediately visible.

Here in America, I suspect the collapse is going to look a lot different than it has in these other countries…at least, at first. And in my description, it’s entirely likely you’ll see that many of these signs have been happening all around us for years.

It will be gradual.

The thing with collapses that we see in the media is that we are seeing the end results of events that have been slowly declining for years. Venezuela was one of the wealthiest countries in the world back until the mid-1980s, due to their rich oil reserves. Then oil prices collapsed and their fall began. It was actually several decades though before it was truly evident that the country was in trouble.

Preparedness bloggers here have been sounding the warning bell since 2008 (at least) when our economy went into a recession. While the US managed to dig its way out of that to at least an illusion of renewed prosperity, it’s questionable how much of that return was real and how much of it was propaganda.

It’s unlikely that we’ll see just one event that says clearly to everyone, “Hey, our economy has collapsed. The Great Depression 2.0 has arrived, today, January 14, 2019, due to X event.”

…click on the above link to read the rest of the article…

Trump Is A Pied Piper For The New World Order Agenda

Trump Is A Pied Piper For The New World Order Agenda

In my last article, ‘The Fed Is A Suicide Bomber With A Deeper Agenda’, I explored and dismantled recent propaganda surrounding the Federal Reserve’s tightening actions, including the propaganda that Jerome Powell is some kind of rogue central banker who is rebalancing the system for the good of the nation.  To summarize the points made in that article:

The Fed deliberately created the “Everything Bubble” so that it could be deliberately imploded at the proper time – in other words, the crash we have been witnessing so far during the final quarter of 2018 and continuing into 2019 is a controlled demolition of the economy.  Jerome Powell is not some “rebel” going against the easy money dictates of the Fed.  Jerome Powell is playing the role that has been given to him.  Ben Bernanke and Janet Yellen’s job was to inflate the bubble.  Jerome Powell’s job is to crash the bubble.

This is a tactic used by the Fed and the globalists that run it for over 100 years – conjure a debt bubble, deflate the debt bubble, cause a crisis, siphon up hard assets for pennies on the dollar, use the panic to gain more power and centralization, introduce new control measures while everyone is distracted, rinse, repeat.

This process of controlled demolition needs a considerable distraction so that the central banks and the globalists ultimately avoid blame for the painful consequences of the event.  Enter Donald Trump and the false Trump vs. Globalist paradigm.  As I mentioned last week, the Fed is only one side of the equation for the crash; Trump is the other side.

…click on the above link to read the rest of the article…

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