Authored by Michael Snyder via The Economic Collapse blog,
What we have been witnessing on the streets of Minneapolis is just the beginning. Our nation is so deeply divided, and a large portion of the population is losing faith in the basic institutions that govern our society. Personally, I don’t know how anyone can watch the video of what happened to George Floyd without having an emotional reaction. Police brutality has been a massive problem in the United States for many years, and it has gotten to the point where most of the country no longer has faith in the police.
Of course the rioters are not helping their cause by burning down the communities that they are supposedly defending. And after causing so much chaos on Wednesday night, protesters were back in the streets of Minneapolis on Thursday…
Protests and, in some cases, violence, continued Thursday in the aftermath of the death of George Floyd, a black man who died in police custody after a white officer pinned him to the ground under his knee.
Hundreds of protesters flooded Minneapolis streets Thursday evening for a march through downtown. Traffic was halted as a crowd of people stretched for up to four blocks. Protesters shouted “I can’t breathe” and “no justice, no peace; prosecute the police” as volunteer marshals in highlighter-colored vests directed traffic.
Sadly, this is just a small preview of what is coming to major cities all over America.
If you think that these riots about police brutality are intense, just wait until the economic riots start.
We are moving into a time when millions upon millions of Americans will become increasingly desperate as we plunge even deeper into a new economic depression. On Thursday, we learned that another 2.1 million Americans filed initial claims for unemployment benefits last week…
First-time claims for unemployment benefits totaled 2.1 million last week, the lowest total since the coronavirus crisis began though indicative that a historically high number of Americans remain separated from their jobs.
Economists surveyed by Dow Jones had been looking for 2.05 million. The total represented a decrease of 323,000 from the previous week’s upwardly revised 2.438 million.
This was the 10th week in a row when the number of new claims for unemployment benefits has been above 2 million.
As I keep reminding my readers, prior to this year the highest that number had ever been for a single week was 695,000 in 1982.
So even after so many catastrophic weeks in a row, we are still at a level that is approximately three times higher than that old record.
Overall, 40.8 million Americans have filed new claims for unemployment benefits over the past 10 weeks. That is the greatest spike in unemployment in all of U.S. history by a very wide margin, and it means that more than one-fourth of all the jobs in the United States have already been wiped out.
But for now, the impact of those job losses has been cushioned by the extremely generous $600 a week unemployment bonuses that the federal government has been handing out, but those benefits are set to expire at the end of July…
Right now, many are able to take advantage of an additional $600 a week in unemployment benefits provided by the federal government on top of each state’s standard jobless benefit. But that benefit is set to expire at the end of July if Congress does not pass another stimulus bill to extend benefits.
If those benefits are not extended we will see a massive national temper tantrum, and right now President Trump and Republican leaders in the Senate do not plan to extend them.
We shall see what happens, but we may soon have tens of millions of very angry unemployed Americans that are unable to pay their bills anymore.
And with each passing day, more bad economic news just keeps rolling in. We just learned that orders for durable goods were down 19.4 percent on a year over year basis last month, and we also just learned that pending home sales were down 34.6 percent in April compared to the same month a year ago.
As I discussed yesterday, we are watching a full-blown economic collapse begin to unfold, and the fact that many U.S. states are starting to “reopen for business” is not going to stop the momentum that has now been created.
During the first few weeks of the pandemic, there was just a trickle of major bankruptcies, but now that trickle has become a flood…
In the first few weeks of the pandemic, it was just a trickle: companies like Alaskan airline Ravn Air pushed into bankruptcy as travel came to a halt and markets collapsed. But the financial distress wrought by the shutdowns only deepened, producing what is now a wave of insolvencies washing through America’s corporations.
In May alone, some 27 companies reporting at least $50 million in liabilities sought court protection from creditors — the highest number since the Great Recession. They range from well-known U.S. mainstays such as J.C. Penney Co. and J. Crew Group Inc. to air carriers Latam Airlines Group SA and Avianca Holdings, their business decimated as travelers stayed put.
And we are watching store closings occur at a rate that we have never seen before in our entire history.
At this point, Coresight Research is projecting that about 25,000 stores will permanently close by the end of this calendar year…
Coresight Research, which tracks retail openings and closings, has upped its projected store closures for 2020 from 8,000 at the beginning of the year to 15,000 at the beginning of March to about 25,000 now.
“That’s unlike anything the industry has ever seen,” Coresight CEO and founder Deborah Weinswig said. “It’s the speed with which it’s all happening which has been a little surprising.”
So much anger was building up all over America during the “good years”, and now this new economic depression is going to make things much, much worse.
When there are no jobs available and people can’t even provide the basics for their families, we are going to see frustration on a scale that is unlike anything we have ever witnessed before.
So please take careful note of what is happening in the streets of Minneapolis right now, because that is what the future is going to look like in all of our major cities.
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Plenty of the same in Atlanta last night. The shock was that it was no longer the usual suspects, but plenty of whites too, mostly young girls.
That’s because they see the white boys as too girlie.
but those ARE the usual antifa falseflag gaslighted twitterbrain suspects.
The bad part is these idiots do not realize they are human shields at the moment, once the shooting starts they will be left in pools of blood.
They also think you won’t shoot a girl. Hesitate and the girl will shoot you. No mercy. Some young female dressed in black shows up pointing a gun at me or mine it will be her last mistake.
In the hand to hand rioting they use female shot callers with impunity.
Folks,tis why we prep.I am pissed at ALL unjustified police killings,and,that the cops usually still employed.That said,burning down your grocery stores/auto parts ect.(burning starbucks if can be done with no other damage fine)but this shit will lead to many deaths.
As times get tougher,help those that need help/kill those that need killing.
Sucks to have to think this way,but…….,the alternative is worse.
All the people who were calling me crazy for preparing 4 years ago will be in deep shit by next year.
I lost any compassion I would usually hold for them because I tried repeatedly to alert them with loads of good information. Virtually none heeded my efforts.
Yeah, I was the stupid one.
Steve,I was the paranoid one!That said,folks are listening to me now,and though late in the game helping them get stocked/mentally prepped as best as possible.
Till the hammer drops completely one can still prep,get at it those late in the game.
I would also say the covid 1984 has shown me holes in me preps,filling em as fast as I can.
Martial law in our future?
The morons have no idea how bad this can get, and it’s not even summer.
Craven.
Exactly. Wait till late July mid August. With the humidity, food shortages, and free money running out it will be pure hell.
Agree 100%. This is still lightyears from being anywhere near the bottom.
Fyi, after snowing the first week, it has already topped 90 with high humidity in NH this month.
Buy a freezer and fill it. Unfortunately freezers are hard to come by – they come from China.
Lowe’s Item number 1416445, you can get one within 7 days.
And it can all be laid at the feet of the population, they vote for a State that devalues an honest and prosperous living at every turn.
A portion of the population. 50% aren’t registered, 50% of those who are don’t vote, and most races are decided 51% to 49% or thereabouts, unless the incumbent is running unopposed. And libertarians and others who still respect freedom and liberty garner generally less than 5% of the votes cast (if they are even allowed onto the ballot). So really you are talking about 25% (those that vote) who are casting the votes for republicans and democrats who devalue an honest and prosperous living at ever turn.
Democrats blaming everyone else for the problems they created.
We are in the midst of a Bolshevik Revolution but it will not be the garden variety type like the Soviets had. They had to be repeatedly bailed out by western bankers to keep the charade going 100 more years. They have no reason to bail us out. We have served our purpose and we are now expendable. We have been the best batch of useful idiots Fiat can buy. Use this window to tie up loose ends and build your faith because hell is coming to dinner. Today is the best it’s ever going to be between now and the afterlife.
The over militarization of police forces and most police exercising more authority and force then truly allowed by law yet so rarely meet with direct challenge by citizens turned victims by law enforcements . Policing for profit with illegal search and seizure and followed up with asset forfeiture . Add to that the internal corruption running thru many police agencies and trust and respect for law enforcement is out the window !
Now couple this with a disastrous economic state building like a tsunami for 40 years crushing the middle class in America to the benefit of the political class the 1% of extremely wealthy and the minions employed by government armed and otherwise and BOOM . You assholes in the big club broke it and now it’s time for your circle jerk asses to pay up ! From Wall Street To K-Street to Capitol Street your pissing on average Americans and convincing them it’s raining is over !
People may have “lost faith in the police,” but they are not calling for an end to the government monopoly are they? They may have lost faith in the government but they are not calling for an end to the government or its massive power and control of their lives.
Some are, and their Youtube channels are being shut down, along with their Facebook accounts, Twitter accounts, and other means of sharing their message with others….and most Americans are perfectly happy with that as truth, honest discussions, etc. about economics, government power, etc. just upset their twisted and deeply fragile world view.
There is something special about hunger and want. It makes those special snowflakes and government lovers re-examine their world view, it also makes them very dangerous because they will kill you with impunity if they perceive you have what they need and want. In the past the government forced redistribution, Federal Reserve bailed out the uber wealthy and destroyed the middle class in the process. America is caught between the welfare ‘poor’ and the uber wealthy and the tax donkeys just got kicked in the head with the Beer virus lock downs. They finally managed to kill off the golden goose. Where it goes from here remains to be seen.
As I’ve said. DEMOCRAT POLITICIANS and city governments hire mostly white police with the expressed purpose that they will be viewed as oppressors of blacks. In order to perpetuate the black narative.
The problem at hand for the city government is to contain the riots in black neighborhoods. For should it bleed out into other parts of the city, taxpayers will wonder why they are paying taxes.
” For should it bleed out into other parts of the city, taxpayers will wonder why they are paying taxes.”
Rioters will also experience folks actually shooting/killing them once they feel time to burn other neighborhoods.
My trusted neighbors and I are prepared and have the high ground outside of Baltimore .
We have discussed strategy and will not wait to be injured , killed and burned out like cops and national guard standing down . Showing up to be spectators and arresting us for defending our families and property . Since we are aware that is the game we choose not to play !
At least not by their rules but by our rule of law .
Attack our little enclave you will be meet with significant force , GOOD LUCK
I told ya’ll to buy more ammo. Now it’s getting scarcer and more expensive . Get the green tips for your AR….better penetration .
The 4th Turning is gonna’ make this a long hot summer . With the SCOTUS saying that the 1st amendment can be changed because of a bug the 3% are itching for a fight. They are saying…I told you they are coming for your freedoms .
Interesting times are ahead .
Anybody seen any of the new 855A1 rounds? I’ve been able to find the new 9mm rounds for the M17 but have only read about the 855A1. Supposedly all copper 62 grain that is longer and has higher ballistic coefficient and longer range.
Until I do find some we’ll keep using M193. At normal engagement distances it is far more deadly than 855.
I doubt any of this changes many opinions. The only thing everyone agrees on is that it looks like this cop tortured and murdered this man in broad daylight.
I fail to see how politically this helps the Dhimmicrats in spite of them acting like it will. Dhimmicrats and their communist allies burn down Dhimmicrat cities populated by the group that over 90% vote for the Dhimmicrats. It is an incredible object lesson teaching that Dhimmicrats cannot maintain peace in any city they run. This will not gain them votes. The other unfortunate lesson is that in 2020 Black Americans are largely incapable of self rule under the Dhimmicrat banner.