Posted on 09/06/2022 8:00:37 AM PDT by george76
You have heard me say it over and over again. What we are witnessing right now reminds me so much of 2008, and we all remember what happened in the fall of 2008. That doesn’t mean that this new crisis will unfold exactly the same way that the last one did. Ultimately, every economic downturn is unique. But the fact that we are seeing so many parallels between what is transpiring now and what transpired 14 years ago should deeply alarm all of us. We appear to be on the precipice of another economic crash, and all of the “solutions” that our leaders give us just seem to make things even worse.
Hopefully someone out there can find a way to pull a miracle out of a hat and a worst case scenario can be averted.
But I wouldn’t count on that happening. The following are 12 numbers that show that we are getting dangerously close to an economic crash as the fall of 2022 approaches…
#1 The government is telling us that the unemployment rate only went up to 3.7 percent in August.
#2 According to John Williams of shadowstats.com, if honest numbers were being used the real rate of unemployment in the United States would be over 24 percent.
#3 About half of all U.S. companies say that they will be eliminating jobs within the next 12 months.
#4 The government is telling us that the inflation rate in the United States is only 8.5 percent.
#5 According to John Williams of shadowstats.com, if the rate of inflation was still calculated the way that it was back in 1980, the real rate of inflation would be somewhere around 17 percent right now. That is worse than anything that we experienced during the Jimmy Carter era.
#6 At one company, the number of Americans taking out short-term loans for groceries has nearly doubled this year.
#7 One out of every five home sellers in the United States dropped their asking price last month. This is more evidence that home prices are starting to rapidly move in a downward direction.
#8 Sales of previously-owned homes were about 20 percent lower this July than they were last July.
#9 One recent survey found that 3.8 million Americans believe that they could be evicted from their homes within the next two months.
#10 According to the National Energy Assistance Directors Association, approximately 20 million U.S. households are currently behind on their utility bills.
#11 The Dow Jones Industrial Average has fallen for three weeks in a row. We also witnessed this sort of a gradual slide just prior to the big crash of 2008.
#12 In August, a whopping 2,150 corporate executives sold off shares in their companies. Are they trying to cash in while they still can?
Gustavo Arnal was one of the corporate executives that recently sold off large amounts of stock.
Now he is dead…
The man who jumped to his death from the 18th floor of the famous ‘Jenga’ tower in lower Manhattan’s Tribeca neighborhood Friday has been identified as a Bed Bath & Beyond executive.
Gustavo Arnal, 52, was the Chief Financial Officer of Bed Bath & Beyond, a company that has been going through struggles of late due to high inflation and a sagging economy. The company announced plans to close 150 stores, of its roughly 900, and lay off 20 percent of staff just two days before Arnal’s death.
He reportedly sold over 42,000 shares in the company, oft-identified as a ‘meme stock’, for $1million just over two weeks ago, according to MarketBeat.com.
It appears that Arnal was involved in a “pump and dump” scheme, and he may have decided that he didn’t want to spend much of the rest of his life locked away in prison…
The executive vice president and chief financial officer of Bed Bath & Beyond who plunged to his death from the 18th floor of a New York City skyscraper on Friday was the subject of a class-action lawsuit alleging that he and majority shareholder, GameStop Chairman Ryan Cohen, had artificially inflated the company’s value in a “pump and dump” scheme.
Gustavo Arnal, 52, and Cohen, are listed as defendants in the class-action lawsuit filed last month in the United States District Court for the District of Columbia.
Sadly, I think that we will see quite a few more people jumping off of buildings before this whole thing is over.
Of course most Americans would never do such a thing.
Most Americans will just suffer through whatever comes even as their standard of living is being systematically destroyed.
For example, CNN recently interviewed one young mother that couldn’t even afford to buy a backpack for her preschooler…
As Sarah Longmore finished her back-to-school shopping, the mother of five looked at a $25 backpack for her preschooler. Soaring inflation had crunched the family’s budget, and she decided her daughter could make do with a hand-me-down. She put the backpack back.
Unfortunately, she is not alone.
In fact, one recent poll found that only 36 percent of all parents will “be able to pay for everything their kids need this school year”…
Just 36% of parents said they would be able to pay for everything their kids need this school year, according to Morning Consult’s annual back-to-school shopping report. That’s down sharply from 52% in 2021, when inflation was lower and stimulus checks plus advance child tax credit payments helped some families.
Are things really this bad already?
If so, what will conditions look like six months or a year from now?
2023 is less than four months away, and the stage has been set for an economic implosion of absolutely epic proportions.
Do you remember the extreme pain that our nation went through in 2008 and 2009?
Many believe that what is ahead will be even worse.
The greatest debt bubble in the history of the world is starting to burst, and central banks all over the globe are starting to panic.
If you always wanted to live in “interesting” times, you are going to get your wish.
But for most people, the times that we are moving into will not be fun at all.
Credit card debt has been rising sharply. Not yet at record levels, but getting close to it.
Correct! We can weather the storm. No debts, savings in multiple banks and credit union (primarily credit union in case banks fail), and some cash on hand.
We've advised our daughters to do likewise - not carry credit card debt, and to stop frivolous purchases (such as pampering their cats with big expenses). We can all weather the storm if we prepare.
“But for most people, the times that we are moving into will not be fun at all.”
Well having grown up in the late 1950s and 60s the last 65 years have been fantastic. Color TV, air conditioning, clean water, no polio, moon landing, vacation and leisure time. Heady times indeed.
The powers that be are doing everything necessary to bring it on.
Yes. It is not just the “debt” on credit cards either. It is what credit cards are being used for..... regular household budget stuff like gas, utilities, food, etc.
Too few are noticing this but major retailers are the ones saying this.....
It is NOT sustainable. It is especially unsustainable if we are only at the beginning of a deep recession, or God forbid, a depression.
I wish people understood how the world works, but most of the shortfalls in your monthly budget are directly attributable to printing money and our insane energy policies.
Can ANYONE point out a single benefit for the average American in the recent spending bills? Less than 10% of the last bill is actually going to “infrastructure”. The rest of it is going to democrat donors.
We have a lot of structural rot in the system but if we do not address our dollar and energy we have no chance of stabilizing the structure.
Pensions and Social Security are a big concern.
We had lockers at school and no bombs, drugs or guns in them.
The powers that be are doing everything necessary to bring it on.
It sure looks that way and it makes us all question reality because we see it clearly, yet most who support these insane policies are incapable of seeing it.
Those in charge know it though and their goal has nothing to do with my household finances or yours - they want a global government that controls everything. They even tell us that to “re-imagine the World” you first have to get rid of the world as we know it.
In times of horrific disorder the masses have been conditioned to “find a Fauci” - the anointed savior for what ails us in the moment.
“In times of horrific disorder the masses have been conditioned to “find a Fauci” - the anointed savior for what ails us in the moment”.
And we know who that will be.
#2 According to John Williams of shadowstats.com, if honest numbers were being used the real rate of unemployment in the United States would be over 24 percent.
I would like to see how that 24 percent is calculated. It is just as off as the 3.7 I would bet. Groups you can’t count in the number. Retired no matter what their age. Homeless. Many of the homeless are there because of drugs and mental illness. Neither group are particularly employable.
2 Thessalonians 2:11 — (NRSV)
11 For this reason God sends them a powerful delusion, leading them to believe what is false.........
We have a lot of structural rot in the system
*************
Cultural rot as well. We are far, far away from the country we used to be.
I cannot and will not refute your math, but I would ask you to consider how our government has altered data analysis and reporting in the past decades to paint a rosy picture.
Each of us, objectively and anecdotally, can observe the world around us and see that we should NOT trust our government when it comes to pronouncements on the health and wealth of the nation.
I suspect that the number is far worse than the official telling and likely not as bad as the clickbait doomers say it is, but either way it “ain’t good” in plain Tennessee talk.
No doubt but I just think that 24% number is way off as well. The official numbers only count people actively seeking. There are always those who can’t or won’t find a job.
Why does avoid need a backpack anyway?
Twelve years s of public school and I never had a backpack.
I did have a lunchbox in elementary school.
Hmmmmmm.
And makes you think your bank is safe?
FDIC insurance guaranteed by... The government.
So much debt has been kicked down the road it now has become a roadblock and it’s coming up fast.
Good luck to you and your family.
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