(The Economic Collapse Collapse)—The days of the 99 cent Egg McMuffin are never coming back. Our central bank has been treating our currency like toilet paper, and our politicians in Washington have been borrowing and spending trillions of dollars that we do not have. As a result, we are in the midst of an inflation crisis that seemingly has no end. Of course the mainstream media insists that inflation is “low”, but literally just about everything that we shell out money for on a regular basis costs a lot more these days. For example, just check out what it will cost you to get a single Egg McMuffin at one McDonald’s location in Connecticut…
A McDonald’s customer was left astounded after paying $7.29 for a single Egg McMuffin in a Connecticut drive through.
Bespoke Investment Group posted a picture of the customer’s receipt with the caption ‘$7.29 for one McDonald’s Egg McMuffin. What has the world come to?? These were 2 for $2 pretty recently.’
The bill records the purchase of two Egg McMuffins for $14.58 and one Bacon, Egg & Cheese McGriddle without two half-strips of bacon for $7.19.
$7.29 for just one Egg McMuffin?
Are you serious?
So that means that the price of an Egg MucMuffin in Connecticut is now more than 7 times higher than it was during the Reagan administration…
Watching old commercials like that makes me sad, because our country has become a completely different place since that time.
Of course it isn’t just the Egg McMuffin that has become ridiculously expensive.
One customer in Idaho was stunned when he recently had to shell out $16.10 for his value meal…
Another customer in Idaho was also shocked to discover the prices of combo deal in December.
Topher Olive, was visiting one of the restaurant’s locations in Post Falls when he picked up a Smoky BLT Quarter Pounder with Cheese, a large fry, and a large Sprite setting him back $16.10.
He shared a video of his meal on, where he has more than 334,000 followers, admitting that he was shocked over the price.
I clearly remember when I could get a combo at McDonald’s for just five bucks.
Now only the wealthy can afford to eat at McDonald’s on a regular basis.
Needless to say, the definition of “wealthy” has changed too.
Once upon a time, if you had a million dollars you were set for life.
But now Kevin O’Leary says that you need at least five million dollars in the bank…
Kevin O’Leary, Shark Tank star and investor, sparked significant discussion with his assertion that individuals need $5 million in their bank accounts to ensure lifelong financial stability.
In an August 2023 YouTube video, O’Leary said, “You have to get to a place where you have $5 million in the bank,” emphasizing the importance of this amount to “survive the rest of your life, no matter what happens.” This statement, along with his detailed financial advice, has been a subject of both support and criticism among viewers and financial experts.
Only a tiny percentage of the population has that kind of money.
In fact, one recent survey found that 60 percent of the U.S. population has 500 dollars or less in their checking accounts.
And only 12 percent of the U.S. population has $2,001 dollars or more in their checking accounts. Just 12 percent. We are a nation that is literally living on the edge.
Amazingly, in this very tight economic environment there is a campaign to increase the salaries of members of Congress by 70 percent…
A campaign has started to raise the salaries of House and Senate members by 70% to $294,000 from the current $174,000 in return for better “performance.”
Federal analyst Steven Kopits, the president of Princeton Policy Advisors, argued that since most members are lawyers, salaries should at least be equal to what first-year associates in Manhattan receive, plus a 20% bump up.
“Most legislators are lawyers by trade, and we — or at least I — would hope that the public would prefer the best and the brightest to become members of Congress. First year law associates in New York are the best and brightest of their year, typically from Ivy League universities, and their salaries are tied to the market for premium legal services in the U.S. Therefore, if we believe we would like to recruit top-line legal professionals to serve in Congress, then first year associate salaries are a plausible comparable,” Kopits said in a memo.
Just like the rest of us, they are also being crushed by the terrible inflation that they played a major role in creating.
Considering how poorly they have performed, there is no way in the world that they should be getting a raise.
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It is the rest of the country that needs help. The middle class is shrinking, food banks are facing unprecedented demand all over the nation, and homelessness is rising at the fastest pace ever recorded.
And our politicians are making things even worse by bringing in vast numbers of extremely desperate people from other countries.
In Denver, 40,000 new migrants have arrived during the past year, and they are absolutely overwhelming the city’s social services…
Nearly 40,000 migrants have arrived in Denver over the past year, making a city with a population of just over 710,000 the top destination per capita for newly arrived migrants crossing the U.S. southern border and traveling north in buses from Texas.
The influx is taking a toll on the city’s public safety net. Starting Feb. 5, Denver will limit the number of days migrants can stay in shelters and send those who exceed their stay out onto the streets.
One Venezuelan family, a mother, father and their three daughters, told NBC News they’ve been staying at a hotel paid for by the city, but they’ve just received notice that they’ll be evicted.
“Just yesterday they started throwing away the toys, the bicycles in the common area,” the mother said. “We don’t know where we will go next.”
This is happening all over the nation, and there is no end to this crisis in sight.
Meanwhile, we are being warned that the economy will “cool considerably” during the months ahead…
The U.S. economy is set to cool considerably in the coming months as once-rampant spending by American consumers finally comes to an end, according to Wells Fargo.
In a recent note to clients, Wells Fargo senior global market strategist Scott Wren warned that retail spending is likely to slow over the course of 2024 as the job market eases and layoffs start to rise.
“Americans with jobs and money in their pockets are going to spend,” Wren wrote. “However, as the economy slows as we move through the middle portion of this year and the labor market softens, we continue to believe the holiday spending that occurred last year was a bit of a last hurrah for the consumer.”
Of course there are lots of signs that the economy is already heading in the wrong direction quite rapidly.
Sales of iPhones are typically a very good indicator of where things are going, and right now projections for 2024 are quite dismal…
Apple stock, which on any given day is either the most or 2nd most valuable company in the world, rotating with MSFT, reversed earlier gains and slumped to session lows after widely-read TF International Securities analyst Ming-Chi Kuo (best known for gathering intelligence from his contacts in Apple’s Asian supply chain) reported that Apple has lowered its 2024 iPhone shipments of key upstream semiconductor components to about 200 million units, which correspondents to a decline of 15% year-on-year.
As a result, he notes that iPhone 15 series and new iPhone 16 series shipments will decline by 10–15% year-on-year in 1H 2024 and 2H 2024, respectively (compared to iPhone 14 series shipments in 1H 2023 and iPhone 15 series shipments in 2H 2023, respectively). Even worse, Apple’s weekly shipments in China have declined by 30–40% year-on-year in recent weeks, and this downward trend is expected to continue.
And layoff announcements continue to roll in from coast to coast.
This week, we learned that UPS will be laying off approximately 12,000 workers…
UPS plans to layoff nearly 12,000 employees following a massive year-over-year decline in revenue, company officials told USA TODAY Tuesday morning.
The workforce reduction is part of an effort to align resources in 2024 and will save the company nearly $1 billion, the Atlanta-based company’s CEO Carole Tomé said on a company earnings call.
A slow-motion train wreck is playing out day after day right in front of our eyes.
So many of the things that we have been warning about are literally happening right now.
But most of the population still appears to be in a deep state of sleep.
What will it take for them to finally wake up?
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
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