Normally, we shouldn’t have economic stagnation and rampant inflation at the same time. But that is exactly what we’ve got. U.S. GDP actually declined during the first two quarters of this year, and we are being warned that economic activity could slow down a whole lot more in the months ahead. Meanwhile, we are in the midst of the worst inflation crisis since the Jimmy Carter era. The cost of living has become extremely oppressive, and this is particularly true when it comes to food. We just got some new numbers from the Department of Labor on Wednesday, and quite a few of them are absolutely stunning…
- Fresh and dried vegetables: up 15.7 percent for the month and 40.2 percent for the year.
- Grains: up 10.7 percent for the month and 30.4 percent for the year.
- Fresh eggs: up 16.7 percent for the month and 97.3 percent for the year.
- Bakery products: up 0.8 percent for the month and 14.0 percent for the year.
- Pasta: up 1.1 percent for the month and 34.1 percent for the year.
- Finfish and shellfish: up 2.5 percent for the month and 2.9 percent for the year.
- Processed fruits and vegetables: up 2.6 percent for the month and 16.0 percent for the year.
- Dairy products: down 1.6 percent for the month but up 18.2 percent for the year.
- Soft drinks: up 1.9 percent for the month but up 15.8 percent for the year.
- Pork: up 5.5 percent for the month but down 2.0 percent for the year.
- Fresh fruits and melons: down 1.2 percent for the month but up 20.7 percent for the year.
- Turkey: up 0.5 percent for the month and 38.2 percent for the year.
This is crazy.
In my entire lifetime, I have never seen anything like this.
Everywhere you look in the grocery store, prices are rising to levels that are completely nuts. If you can believe it, even Pepsi has raised prices on their products by an average of 17 percent over the past year…
The 12% increase it expects from full year organic revenue, noted by the Wall Street Journal this morning, comes at the hands of average prices rising an astonishing 17% from the year prior. The price hikes have also helped the company raise its profit outlook. It now expects per-share earnings growth of 10% for the year, the report notes.
The rise in prices has helped offset a “slight decline” in overall sales volume, the report says. This means that Pepsi is fighting the recession that the country is in with more inflation.
Has the size of your paycheck gone up by 17 percent during the past 12 months?
If not, you are losing ground.
Sadly, most Americans are living paycheck to paycheck these days, and more of us than ever are falling behind on our bills. Just check out the results of a brand new LendingTree study…
That’s according to a new LendingTree study, which found that 32% of Americans have paid a bill late over the past six months, and an overwhelming majority – about 61% – said it’s because they did not have enough money to cover the costs.
Another 40% of respondents said they are struggling more to afford their bills than they were just one year ago. Most said they fell behind on a utility bill, credit card payment or cable or internet bill.
“Life is getting more expensive by the day, and it’s shrinking Americans’ already tiny financial margin for error down to zero,” said Matt Schulz, LendingTree’s chief credit analyst.
At the same time that the cost of living is becoming excruciatingly painful, economic activity in the United States is really starting to slow down and big companies are starting to lay off workers.
In fact, we just learned that Walmart will be laying off almost 1,500 more workers…
As Walmart continues making adjustments to the structure of its business plan, the e-commerce-based company has announced it will let go of nearly 1,500 employees by the beginning of December. The employees will all be laid off from one specific fulfillment center in Atlanta, Georgia. This may come at a bad time for all the employees with the holidays quickly approaching, but the company is doing this to ensure their future.
A recent blog post published by the Senior Vice President, Karisa Sprague, breaks down and shares details of just how they are developing their fulfillment network for the future. Essentially, the Senior VP says that Walmart is making necessary adjustments to provide the highest level of customer service that they can, as well as also doing the best by their employees. She goes on the mention that evolution is essential as times change.
And Crypto.com has just laid off approximately 40 percent of their entire workforce..
Crypto.com has laid off some 2,000 employees in one of the biggest downsizes in the cryptocurrency industry yet. The cuts account for about 40% of the DeFi exchange’s staff, according to CoinDesk. The current layoffs come after the exchange cut over 400 jobs in the middle of June.
Unfortunately, this is just the beginning.
Many more layoffs are coming.
And just like we witnessed in 2008, the U.S. housing market is really starting to implode.
Rapidly rising rates are scaring off buyers, and demand for new mortgages is absolutely plummeting…
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The average interest rate on US home loans has hit its highest level since 2006, as the Federal Reserve’s rate hikes to fight inflation continue to raise borrowing costs for homebuyers.
The average rate on a 30-year fixed rate mortgage hit 6.81 percent for the week ending October 7, the eighth straight weekly increase, the Mortgage Bankers Association (MBA) said on Wednesday.
Higher borrowing costs have sent home sales volume plunging. The MBA’s Purchase Index, which measures new mortgages to buy a home, dropped 2 percent from the prior week and 39 percent from a year ago.
This is what stagflation looks like.
And thanks to a series of colossal errors by our leaders, it is going to be with us for a while.
We were warned that an economic day of reckoning would eventually come, and now it is here.
If you are searching for someone to thank for this mess, you can thank Joe Biden, our free spending Congress critters, and the “experts” at the Federal Reserve.
Most Americans trusted them when they told us that they had everything under control.
Now we can see that it was all a charade, and the months ahead are looking exceedingly bleak indeed.
***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com. In addition to my new book I have written five other books that are available on Amazon.com including “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, “Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending digital copies as gifts through Amazon to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible.
I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.
I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, I strongly urge you to ask Jesus to be your Lord and Savior today.
Article cross-posted from The Economic Collapse Blog.
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.
HyperBidenstagflation. These are the good old days. 753 days until the election. If we survive. Election fraud has consequences. Pray for Peace. America First. ULTRAMAGA.