(The Economic Collapse Blog)—How many times have you heard the mainstream media tell you that the economy is doing just great in recent months? Personally, I have seen the word “booming” used over and over again to describe the economy, and it makes me sick. The level of gaslighting that we are witnessing right now is off the charts. Millions of Americans are sleeping in their vehicles, thousands of businesses are failing all over the nation, and most of the country now believes that the American Dream is no longer attainable. If this is what a “booming” economy feels like, I would hate to see what would happen during a “recession”.
I totally understand why the mainstream media is gaslighting us. They want us to believe that everything is fine so that we will vote a certain way in November. They have an agenda, and they are pushing it really hard.
But what they are telling us simply does not match up with reality.
The following are 7 signs that the mainstream media is flat out lying to us about the economy…
#1 Survey after survey has shown that the economy is the number one concern for American voters during this election season. If the economy was in good shape, we would not be getting results like this…
The economy was still the top issue for 26 percent of voters, per the poll. Threats to democracy and extremism came in second at 22 percent, and immigration was third at 13 percent.
#2 At this point, the economy is in such rough shape that even Dollar General customers seem to be running out of money…
Dollar General shares tumbled Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling in this economy.
Shares of the retailer, which caters to more rural areas, tumbled 25% after the earnings report.
#3 When the U.S. economy was actually booming, Big Lots was thriving. Sadly, today’s economic environment has been very hard on the retail chain and it is now teetering on the brink of bankruptcy…
Discount home goods retailer Big Lots is reportedly on the brink of bankruptcy after years of falling sales.
The beleaguered chain may seek Chapter 11 protection within weeks, according to Bloomberg, if it is not able to find investors.
The Ohio-based company runs around 1,400 stores across the US, after closing hundreds of locations earlier this year.
#4 Needless to say, Big Lots is far from alone, because the number of businesses that are filing for bankruptcy has reached dizzying heights…
According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 486,613 in the year ending June 2024, compared with 418,724 cases in the previous year.
Business filings rose 40.3 percent, from 15,724 to 22,060 in the year ending June 30, 2024. Non-business bankruptcy filings rose 15.3 percent to 464,553, compared with 403,000 in the previous year.
#5 According to Zero Hedge, several regional Fed business surveys just fell even deeper into contraction territory…
‘Four more years’ is not the message being heard from the regional Fed surveys this week as the Philly, Dallas, and Richmond business surveys all slumped deeper into contraction…
#6 As I discussed yesterday, approximately two-thirds of the entire U.S. population no longer believes that the American Dream “is still alive”…
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Only about a third of U.S. adults believe the American dream is still alive, a Wall Street Journal/NORC poll published Wednesday found.
A survey of 2,501 people conducted by the Public Religion Research Institute twelve years ago found more than half of respondents believed the American dream “still holds true,” but now only a third feel that way, according to a recent WSJ/NORC poll of 1,502 adults. The study also found an increasingly large gap between people’s economic goals and what they think is actually attainable — a trend that was consistent across gender and party lines, but was especially common amongst younger generations.
#7 Last, but certainly not least, total household debt in the United States has soared to a level that we have never seen before…
A quarterly report published this month by the Federal Reserve Bank of New York on household credit and debt found that between the first quarter of 2021 and the second quarter of 2024, credit card debt surged 48.1% while household debt — which includes mortgages and auto loans — rose by 21.6%.
In dollar terms, credit card debt rose from $770 billion in early 2021 to $1.14 trillion in the most recent quarter, while household debt increased from $14.64 trillion to $17.8 trillion in the same period.
Yes, there is a small segment of society that is still doing really well.
Thanks to the unprecedented intervention that we have seen in the financial markets in recent years, they are still able to live the high life while most of the country suffers.
But while stock prices continue to set new all-time highs, much of the nation looks like a horror show.
For example, just consider what has happened to Pine Bluff, Arkansas…
A small Arkansas city suffering from severe population decline and economic turmoil has become so abandoned that properties are on offer for as little as $400.
Pine Bluff, a bleak metro that saw its population drop from 49,000 to 41,250 residents from 2010 to 2020, made headlines this month after being panned in a YouTube documentary from Abandoned Atlas.
In the movie, filmmaker Michael Schwartz said witnessing the city’s decay ‘shocked’ him, saying: ‘It seems like every time I turn a corner, there is another abandoned home or building left behind.’
The gap between the ultra-wealthy and the rest of us has never been larger than it is right now.
The next time you walk past an abandoned store that has been boarded up, just remember how much the mainstream media has been lying to you.
The next time you walk past someone that is sleeping in a vehicle, just remember how much the mainstream media has been lying to you.
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The next time you walk past someone that is hooked on drugs because they have lost all hope, just remember how much the mainstream media has been lying to you.
Our communities are falling apart right in front of our eyes, our economy is falling apart right in front of our eyes, and our entire society is falling apart right in front of our eyes.
So don’t let the mainstream media fool you. The economy really is moving in the wrong direction very rapidly, and it won’t be too long before even they are forced to admit the truth.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
The Lefties claim that the stock market is UP! Yeah, that’s great if you’re just retiring or retired (pulling your money out at a high in the market after all these years). But it doesn’t help any young people in the workforce with market index funds locked in an IRA or 401k. Also, the stock market was engineered higher. Even Warren Buffett is cashing out of this frothy market. Anticipation BY MARKET PLAYERS of lower interest rates caused by a tanking economy is also a sign of a WEAK ECONOMY!
Lower interest rates will result in more inflation. Great for nobody but the government and big business.
Elections have consequences. Stolen elections have even greater consequences. Why do people continue to vote democRAT?
It’s far from bad enough. Only if it gets really bad can things change, that’s why I’m in for Harris. Trump provided false hope and didn’t do the job he promised… Defeat the Deep State.
It’s far from bad enough. Only if it gets really bad can things change, that’s why I’m in for Harris. Trump provided false hope and didn’t do the job he promised… Defeat the Deep State!
What a great way to start my morning.