(The Economic Collapse Blog)—When one of my readers sent me a photo of egg prices at a store in western Washington state, I could hardly believe what I was seeing. I clearly remember when I could purchase a carton of quality eggs at the grocery store for just 99 cents, but thanks to inflation and a bird flu crisis that never seems to end, those days are long gone. Now it is common to pay five, six, seven or even eight dollars for a carton of eggs. In fact, it probably won’t be too long before we crack the ten dollar barrier. In the old days, eggs were considered to be a very inexpensive way to feed your family, but now eggs prices have gone completely insane.
Unfortunately, it isn’t just egg prices that are spiking.
According to CNN, we just witnessed the largest monthly jump in grocery prices in almost two years…
In November, egg prices shot up by 8.2% nationwide, logging one of the highest monthly spikes in the past two decades, according to Consumer Price Index data released last week. And it’s not just eggs — shoppers have seen jumps in beef, coffee and non-alcoholic beverages, driving up overall grocery prices to their largest monthly gain since January 2023.
And more increases appear to be coming down the pike for the pulped-paper-packed protein: Wholesale prices for chicken eggs soared by nearly 55% last month, and wholesale food prices rose by 3.1% (their highest monthly increase in two years).
Our leaders in Washington promised us that food inflation was under control.
They lied.
I realize that this is very bad news. I have heard from so many of you that are deeply struggling at this moment. Now it appears that food prices are going to go substantially higher in 2025. All of us are just going to have to adapt to this new environment somehow.
If you are barely scraping by from month to month, I want you to understand that you are definitely not alone.
In fact, the U.S. Census Bureau is telling us that 37 percent of Americans are having trouble even paying their most basic bills…
The Census Bureau reports that 37% of Americans are struggling to pay routine bills. Add in the cost of Christmas gifts and other holiday expenses and it can feel overwhelming to keep up with the Clauses.
The National Retail Federation predicts an increase in holiday spending this year, but the rise is more indicative of the higher cost of goods than anything else. We aren’t buying more; it’s just what we are buying costs more than before.
That is more than a third of the country.
It is difficult for people to hear that they aren’t going to be able to live the way that they previously did.
In an attempt to keep their lifestyles the same, many Americans are racking up credit card debt like never before…
A new study of Americans credit card debt finds the average household credit card balance as of the third quarter of 2024, was around $10,757 after adjusting for inflation.
That according to the personal-finance website WalletHub which Friday released its new Credit Card Debt Study, which found that consumers added $21 billion in debt during the third quarter of 2024.
Early results for the fourth quarter of the year show preliminary data for October at a new record high for credit card debt in the month, in absolute terms.
Sadly, we have now reached a point where debt saturation is becoming a major problem and delinquencies are rising.
Consumers simply cannot spend money like they once did, and the retail industry is really struggling as a result. So far this year, retailers have announced the closing of more than 7,000 stores. That represents an increase of 69 percent from last year…
Retail store closures in the United States rose sharply in 2024, with over 7,100 closures announced through the end of November, according to data from the research firm CoreSight. This number marks a 69 percent increase from the previous year under the Biden-Harris administration, which has been plagued by inflation.
The spike in closures is tied to a wave of retail bankruptcies, with 45 retailers filing this year compared to 25 in 2023. Economic challenges, including persistent inflation, have led consumers to cut back on discretionary spending.
As I discussed last week, evidence that the economy is really slowing down is all around us.
I am sure that you can see this where you live, and with each passing day we get even more troubling news.
For example, it is being reported that Macy’s is planning to close dozens of stores by the end of this calendar year…
Macy’s is ramping up store closures this year as it struggles to revive its faltering business.
In February, the embattled retailer announced plans to shut 150 underperforming stores within three years – including 55 closures by the end of 2024.
But the company now expects to close 65 locations by the end of the year. Bosses said they will remain open through the holidays to let regular customers shop but then shutter for good before the end of December.
And in a year when so many restaurant chains have already bit the dust, we now have another one to add to the list…
Arizona’s iconic frozen drink and sub chain Eegee’s has filed for Chapter 11 bankruptcy, making it the latest casualty in a brutal year for fast-food restaurants.
The announcement came with the closure of five locations across Tucson and Phoenix, leaving die-hard fans heartbroken.
The December 6 filing in Phoenix federal court gives the embattled chain – owned by private equity firm 39 North Capital – a chance to reorganize its finances.
Four years of “Bidenomics” has taken an enormous toll on our nation.
- Concerned about your life’s savings as the multiple challenges decimate retirement accounts? You’re not alone. Find out how Genesis Precious Metals can help you secure your wealth with a proper self-directed IRA backed by physical precious metals.
We have built up a tremendous amount of economic momentum in the wrong direction, and the very foolish policies of our leaders are taking us exactly where I warned they would take us.
Many are hoping that things can be turned around when the new administration takes over.
But considering how rapidly conditions are deteriorating both here and around the world, it would literally be a major miracle to pull us out of this mess before a horrifying global crisis erupts.
So let us hope for the best, but let us also continue to prepare for the worst.
Michael’s new book entitled “Why” 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.
