Authored by Michael Snyder via The Economic Collapse blog,
Economic conditions just keep getting worse. As we prepare to enter 2023, we find ourselves in a high inflation environment at the same time that economic activity is really slowing down. And just like we witnessed in 2008, employers are conducting mass layoffs as a horrifying housing crash sweeps across the nation. Those that have been waiting for the U.S. economy to implode can stop waiting, because an economic implosion has officially arrived.
The following are 15 facts that prove that a massive economic meltdown is already happening right now…
#1 Existing home sales have now fallen for 10 consecutive months.
#2 Existing home sales are down 35.4 percent over the last 12 months. That is the largest year over year decline in existing home sales since the collapse of Lehman Brothers.
#3 Homebuilder sentiment has now dropped for 12 consecutive months.
#4 Home construction costs have risen more than 30 percent since the beginning of 2022.
#5 The number of single-family housing unit permits has fallen for nine months in a row.
#6 The Empire State Manufacturing Index has plunged “to a reading of negative 11.2 in December”. That figure was way, way below expectations.
#7 In November, we witnessed the largest decline in retail sales that we have seen all year long.
#8 Even the biggest names on Wall Street are starting to let workers go. In fact, it is being reported that Goldman Sachs will soon lay off approximately 4,000 employees.
#9 The Federal Reserve is admitting that the number of actual jobs in the United States has been overstated by over a million.
#10 U.S. job cuts were 417 percent higher in November than they were during the same month a year ago.
#11 A recent Wall Street Journal survey found that approximately two-thirds of all Americans expect the economy to get even worse next year.
#12 A newly released Bloomberg survey has discovered that 70 percent of U.S. economists believe that a recession is coming in 2023.
#13 Inflation continues to spiral wildly out of control. At this point, a head of lettuce now costs 11 dollars at one grocery store in California.
#14 Overall, vegetable prices in the United States are more than 80 percent higher than they were at this same time last year.
#15 Thanks to the rapidly rising cost of living, 63 percent of the U.S. population is now living paycheck to paycheck.
In a desperate attempt to get inflation under control, the Federal Reserve has been dramatically increasing interest rates.
Those interest rate hikes are what has caused the housing market to crash, but Fed officials insist that such short-term pain is necessary in order to tame inflation.
But meanwhile our politicians in Washington are busy creating more inflation by borrowing and spending money at a rate that is absolutely unprecedented in our entire history.
This week, an abominable 1.7 trillion dollar omnibus spending bill is being rammed through Congress, but not a single member of Congress has read it.
The bill is 4,155 pages long, and U.S. Senator Rand Paul just held a press briefing during which he wheeled it out on a trolley…
After the grossly bloated $1.7 trillion Omnibus spending bill advanced in the Senate by a vote of 70-25, GOP Senator Rand Paul held a press briefing during which he wheeled in the “abomination” on a trolley and demanded to know how anyone would be able to read it before the end of the week.
Paul, along with the only other dissenting Senate Republicans Mike Braun, Ron Johnson, Mike Lee, and Rick Scott highlighted how ludicrous the fast tracking of the bill has been.
Unfortunately, this absurd spending bill has broad support on both sides of the aisle, and that just shows how broken Washington has become.
Our system of government has failed time after time, and our politicians continue to spend money on some of the most ridiculous things imaginable.
The following examples that were pulled out of the 1.7 trillion dollar omnibus spending bill were discovered by the Heritage Foundation…
- $1.2 million for “LGBTQIA+ Pride Centers”
- $1.2 million for “services for DACA recipients” (aka helping illegal aliens with taxpayer funds) at San Diego Community College.
- $477k for the Equity Institute in RI to indoctrinate teachers with “antiracism virtual labs.”
- $1 million for Zora’s House in Ohio, a “coworking and community space” for “women and gender-expansive people of color.”
- $3 million for the American LGBTQ+ Museum in New York City.
- $3.6 million for a Michelle Obama Trail in Georgia.
- $750k for the for “LGBT and Gender Non-Conforming housing” in Albany, New York.
- $856k for the “LGBT Center” in New York.
And have you noticed that our politicians often prefer to push these types of bills through just before major holidays when hardly anyone is paying attention?
No matter who we send to Washington, the story remains the same.
As long as our politicians are borrowing and spending trillions of dollars that we do not have, Fed officials won’t be able to win their war against inflation.
The Fed can send interest rates into the stratosphere, but inflation will continue to remain high because our politicians insist on showering the nation with giant mountains of cash.
We should all be deeply, deeply offended by what is happening, but most Americans simply do not know enough to care.
But once economic conditions get even worse than they were in 2008 and 2009, the majority of the U.S. population will become extremely angry.
Of course things could have turned out much differently if we had made better decisions during the years leading up to this crisis.
Unfortunately, we have run out of time to change course, and that means that a tremendous amount of pain is ahead for all of us.
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Ron “Dr. No” Paul, MD invariably voted “no” on every bill ever presented to the Parliament of Whores that he and his staff were not given time to review every word of before the vote.
Who in CONgress may we designate “Dr. No” today? Mount Rushmore needs editing. Ron would never want that level of adulation, but as long as folks worship empty symbols and rituals, carve a Ron face there.
Better yet, do as he has done for half a century: stand up and never shut up. Ultimately, this whole mess is on everyone consenting to .gov. It’s never for the people. NEVER. It’s a tool of domination. ALWAYS.
No. The real question is what fucking good did Dr. No actually accomplish in his 24 year long federally funded binge?
The answer is unequivocally, “not one damned thing”.
So WTF good is another one of his ilk going to do us?
He woke many up and made other CONgresscritters have to answer some hard questions. So, what do you propose to effect change?
I don’t propose anything. This shit sells itself. And it’s coming.
You should run.
Been runnin’ all my life, chief.
Not all who wander are lost.
What Ron Paul did do in his 24 years serving in the House was the one piece of legislation he introduced that became law, which was the Gold Bullion Coin Act. This Act made gold ownership legal after 50 years of prohibition with the creation of the American Eagle Gold (Silver) coins.
I would say that he did quite a bit with just that one piece of legislation.
He followed the Constitutional mandate about real precious-metal money issuance? That’s disgustingly white-supremacist.
So is our banking system.
“Our”
You think?
Doubt it. Didn’t see people all that angry then and today there’s plenty more of bread and circus to keep the people sedated.
Not to mention so many aren’t living in reality that even if they do get upset they’ll never direct it at the people who caused this issue. MSM will just blame it on the boogyman whites, racism or Russia.
Or on the unvaxed or their internal combustion engines.
Not until EBT has “insufficient funds”
Since all of those “funds” are already counterfeit fiat ones and zeroes, it’s already insufficient. The hollowing out of real value and its transference, not free, fair trade, is creating a vacuum which is nearly complete.
The final collapse will be when the vacuum reaches 100%. Given the length of the scam, the Ponzi must be within a few weeks or at most months of achieving that.
At first it starts gradually, then all at once.
I keep seeing articles like this and yet home/land costs are still it seems at scamdemic panic levels.
As for what good Ron Paul did,well,he opened me a lot in regards to economy/got me into metals and most of all got me to think/research,more then any other pol has done!
He made me a cynical bastard. I suppose I should thank him for that. In that regard he’s right up there with Alex Jones!
…what kind of bastard you are if you blame other people for being one.
This is a worthy sentiment.
I carefully crafted my BASTARDOSSITY all by myself!!!
No other bastards gets any credit for my work!!!
‘#14 Overall, vegetable prices in the United States are more than 80 percent higher than they were at this same time last year.’
Food is going to be the big issue. More people streaming in by the thousands, a large part of the population supplied SNAP, less producers. People have reached a point where they just do not want to work, producing food is work, and it has always been hard work both physically and mentally.
Takes energy to grow and get to a market on a level where profits are desired. Wonder what amount of one’s own food you would have to produce just to cover the cost of inflation since 2020? How much growing space would it take? A 100 square ft, a thousand, a quarter of an acre?
And a rifle team in shifts to protect it.
Which of course would be deemed white supremacy and transphobia.
Every molecule of metal issuing forth from the muzzles of my weapon systems is RACIST and ANTI-TRANS!!!
Most especially when travelling at supersonic speeds.
about a 1/4 acre, and produce essentials only such as potatoes, pumpkins, tomatoes and berries.
And greens. And beets. Green beans, carrots, cabbages and broccoli, all Brassica family. Hardy squashes. Onions, leeks, chives, garlic.
And every sprout, indoors in jars and earthenware crocks, or old Corningware. If you have bearing walnut trees, you’re a king. Apples and pears and plums are nice.
Pickles and kraut for probiotics. A little swampy lowland for Jerusalem artichokes.
Agree with both of you, all that can be canned and stored, was not that long ago about everybody basically did it. The supermarkets on every corner is a seventies-eighties phenomena. The average person does not eat nutritious food items, as shown time and time again on this site. Went to the local Pig about a week ago and they did not even have carrots, but did have a whole aisle of breakfast cereal. Don’t think it can not happen here, well just remember the former Soviet Union and the lines for food, and that was not long ago.
On ebay is the All New Ball Book of Canning and Preserving: BRAND NEW for around $16.00. You can put up meat, collards, whatever.
As far as a rifle squad, I’ll go out on a limb and say when about 30% of the population has starved in about two months, or got so weak they have to be fed, I do not believe anyone will be recruiting a rifle squad to go out and gather food. Most do not even go to the post-office anymore to get their food-stamps, it automatically loaded on their SNAP cards. Don’t believe it will get that bad, but do know a worldwide economic disaster is on the horizon along with all the misery that will bring. It is already happening and bullets will not stop it.
As for me I’m clearing about a quarter acre of new garden that will have a double fence around it to keep out deer, already have hand dug it just working around the tree stumps. My goal is to have 10% to sell, the rest to eat or give out.
Shut up and support Ukraine.
Yes …
Somebody just dropped off ten crates of bazookas and a pallet of cash at my front door.
If you cannot see the engineered destruction taking place, you aren’t paying attention.
None of this is organic, it is 100% contrived.
As evidenced by how easy the destruction would be to avoid or mitigate.
I disagree with 100% and not just because 100% doesn’t exist.
For the life of me, i cannot get a good model in my head. Clearly, there are unseen, incredibly powerful forces, that drive The Narrative. They do it with incredible efficiency and effectiveness. They also know the routes into the subconscious that are most effective to program the masses.
That said, the economy is different, but not entirely separate, of course. Economies and currencies have risen and crashed throughout all of history. The people at the top can crash it at any time, but they cannot hold it up forever. But it seems they are trying. I mean, how long have we here been aware and bitching about the fundamental unsustainability of the markets and the economy upon which they should rest, but in reality they drive? How many of us, back in say 2015, would ever have believed that we could be around 4000 on the S&P at the very end of 2022 with no hyperinflation and with the system more or less stable? Not a one. I remember specifically having the thought that this would not make it until 2019, and that would take a miracle.
And, no Ken, there is no possible avenue to avoid or mitigate the destruction. We cannot go back to a healthy economic system anymore that my 92-year-old father can go back to the strength and vitality he had at 42.
My big point is that it is very simple for those controlling the economic levers to crash the system. A well-timed bond sump, a panic sell in some massive stock, a tweak in some key algo. They seem to be acting in a way that they want the system to stay intact as long as possible and that is longer that I would ever have dreamed.
They can’t figure out what to do about all the guns, ammunition, and veterans.
Seems to be plenty of “Help 4 Homos” cash in that $1.7 trillion omnibus bill, so there’s that. Oh yeah, and the Hannuchah gelt for Zel and friends.
Who else hears soft laughter and the clinking of champagne flutes?
When the buck ceases to be the world’s reserve currency is when the real shit-show starts, darlings.
It’s a law of nature and economics that you get more of what you feed or subsidize . . . so the bill’s provisions should produce more inedible fruit and kudzu.
Anon- Every part of kudzu is edible except the stem/vine. It will be a good source of food for the south in SHTF situation.
True – but it’s invasive and overwhelms all else, is all. Symbolic of the lie machine trying to choke out the truth.
” clinking of champagne flutes” ?
Cheers.
Cloward/Piven in action. Destroying the USA for the Great Reset agenda.
OK… Can someone just press the go button and get the collapse thing to start, ignite, be the spark whatever. Can this start on say Thursday, Thursdays good for me. Friday not so much as FF is on the schedule and I’ll be a little preoccupied.
Seems the broken clock adage is complete BS too. It ain’t right ever, hands have fallen off and are laying at the bottom of the glass cover.
Moos, I’m afraid when the collapse starts you won’t have to wait for FF. It will be MTWTFSS-F.
Well then. If everyday is going to be fail day then we’ll just have to do something different, Saturday Successes!
We’ll still need to get this show on the road tho. SOOO tired of waiting, any time now, any minute, wait for it… I’m going all Glock on this and saying I don’t see it and it ain’t happening. Maybe Wednesday might be good too if someone wants to get the collapse in gear.
It is best to live your life and not worry about what our rulers will do. You will instinctively know when they have gone too far and hopefully you will be ready for what they are bringing down on our heads.
The only ruler that counts lived 2,000 years ago and lived a perfect life. One day every knee will bow and every tongue will confess Jesus as Lord of lords and King of kings. Getting to know Him is the most important thing you can do.
“You will instinctively know when they have gone too far”
Do you mean the Femme Farrago on the Feral Irishman?
Yeah, me too.
Sometimes I feel sorry for Irish having to spend so much time doing research for his weekly posting. It must be agonizing trying to pick just the right mixture of pictures to come up with 200 or so that work.
The clock is now digital and when broken does not show a time.
A collapse of the USA economy is essential so Rothschild bankers can claim to foreclose on the bogus $31 trillion debt. That is the plan. Covid has been an integral part of it. The scheme has been used for centuries.
“Is life so dear, and peace so sweet, as to be purchased at the price of chains and slavery ? Forbid it Almighty God. As for me, give me Liberty or give me death.” [Patrick Henry or Putin ?]
Carroll Quigley, William Blum, John Perkins, Douglas Valentine [CIA AS ORGANIZED CRIME ], and many more have documented the relentless spread of global domination that Klaus Schwab has promised the world. Rothschild’s have now started a control of money with central banks imposing a digital currency with the authority to remove all purchasing power from random selected individuals. That is slavery. They are usurping governments.
The Rothschild’s Federal Reserve has been shown to have embezzled $31 trillion from the USA citizens—and Biden and Congress are escalating their take. Even with 87,000 new armed IRS agents and an income tax law that does not exist. The Second Circuit Court of Appeals has declared the records are subject to GAO and FOIA demands. And we do nothing ???? Ref. https://genzconservative.com/the-federal-reserve-for-dummies/#_ftn3 FEDERAL RESERVE FOR DUMMIES
Simple act of Irish democracy- PAY YOUR FEDERAL TAXES ON A CREDIT CARD and then DEFAULT on paying your credit card off, leaving the banks holding the bag. Your taxes are paid, the bank is screwed, the government is emasculated. Where we’re headed, no one will give a fuck about “credit scores.”
Fuck ’em. If every tax payer in Heritage America did this, the ZOG system goes down.
An economic meltdown just flew over my house!
I miss 4chan!
That said,when they required cookies I gave em up!
Is it just me or do others feel like every article Snydster writes is just a variation of the same article with a different title?
The narratives all go like the following new bulletin. It matters NOT what the topic is, economy, russia, china, climate scam, yada yada yada. Its ALL the same, repeat, rinse, shuffle some pages and start over.
Theres more truth in this than you realize. Today you are required to believe what they are gaslighting you with, no questioning allowed.
Japan has been levitating in the same mess we are in for over thirty years now. This could go on for a lot longer, it’s all up to (((them))) when it crashes.
You could read hundreds of articles such as this in the meantime.
Yup.
And now their culture is producing tentacle porn, self-gelded young men, and the old men die alone and unnoticed in their tiny flats.
Something to look forward to for us….
It’s all about the depop.
Speak for yourself. Food is fine where I am, and we can’t manufacture product fast enough for our customers. We’re busier than ever.
Same old rehashed bullshit he’s been pedaling for years.
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Is Snyder worth reading? Answer …..
This has an easy fix. Redefine “economic meltdown” so it no longer exists. The powers-that-be have redefined vaccine so that the clot shot is a vaccine, they have redefined recession so that we no longer are in a recession, and they have virtually erased the male/female gender dyad so we no longer have just two genders. They should be able to use the same method to make economic meltdown disappear. Is this a great country or what?