(The Economic Collapse Blog)—How it is possible that initial claims for jobless benefits have been exactly the same for five of the past six weeks? As Jim Blanco has pointed out, there is no way that this is statistically possible. Honestly, I don’t know any other way to explain this other than to say that the numbers are being cooked.
It appears that the bureaucrats in Washington have gotten so lazy that they aren’t even bothering to change the fake numbers that they are giving us. Even though large companies are conducting mass layoffs all over America, week after week we are given laughable numbers that indicate that everything is just fine.
At this point, the charade has become such a farce that even CNBC has published an article about this…
Calling the state of the U.S. jobs market these days stable seems like an understatement considering the latest data coming out of the Labor Department.
That’s because most of the past several weeks have shown that first-time claims for unemployment benefits haven’t fluctuated at all — as in zero.
For five of the past six weeks, the level of initial jobless filings totaled exactly 212,000. Given a labor force that is 168 million strong, achieving such stasis seems at least unusual if not uncanny, yet that is what the figures released each Thursday morning since mid-March have shown.
Jim Bianco, the head of Bianco Research, was the first one to call attention to the absurdity of getting the exact same number for five of the past six weeks…
“How is this statistically possible? Five of the last six weeks, the exact same number,” market veteran Jim Bianco, head of Bianco Research, posted Thursday on X.
“Initial claims for unemployment insurance are state programs, with 50 state rules, hundreds of offices, and 50 websites to file. Weather, seasonality, holidays, and economic vibrations drive the number of people filing claims from week to week,” he added. “Yet this measure is so stable that it does not vary by even 1,000 applications a week.”
He is right. Something definitely does not smell right about all of this.
Below is the number of initial filings for unemployment insurance.
How is this statistically possible?
Five of the last six weeks, the exact same number.
Effectively the same number in the last 11 weeks, except for the holiday weeks (President's Day and Easter).
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Consider… pic.twitter.com/vZbWWC7DRr— Jim Bianco (@biancoresearch) April 18, 2024
Of course it isn’t just for the past few months that we have been given fishy numbers.
For a couple of years, jobless claims have stayed within a certain range no matter what has been happening in the real economy.
I simply do not have any faith in the official numbers that they give us any longer, and I don’t understand how anyone else can either.
According to Challenger, Gray & Christmas, the number of announced job cuts in the U.S. in March was 7 percent higher than the already elevated level that we witnessed in February…
Employers in the U.S. announced 90,309 job cuts in March — a 7% increase from February, according to data released Thursday from executive coaching firm Challenger, Gray & Christmas.
That amount of planned layoffs mark the highest monthly total since January 2023, when employers announced 102,943 cuts. Companies are cutting jobs as a result of store closures, bankruptcies, organizational restructuring or general cost-cutting, Challenger said. The cuts suggest that “many companies appear to be reverting to a ‘do more with less’ approach,” Senior Vice President Andy Challenger said in a statement.
“While technology continues to lead all industries so far this year, several industries, including energy and industrial manufacturing, are cutting more jobs this year than last,” he said.
But all of these layoffs haven’t even made a blip in the initial jobless claims numbers.
How is that possible?
And the BLS says that the unemployment rate actually went down in February…
Data from the Bureau of Labor Statistics released Friday showed the labor market added 303,000 nonfarm payroll jobs in March, significantly more than the 214,000 expected by economists. Meanwhile, the unemployment rate decreased to 3.8% from 3.9% in February.
If the unemployment rate in the U.S. really was just 3.8 percent, I would certainly be celebrating. But that is another number that is so manipulated that it has essentially become meaningless.
If you are not working in America today, you are put into one of two categories. Either you are classified as “unemployed” or you are classified as “not in the labor force”.
According to the most recent BLS number, 6,429,000 Americans are considered to be officially “unemployed”. But another 99,989,000 Americans are considered to be “not in the labor force”.
When you add those two numbers together, you get more than 106 million U.S. adults that do not have a job right now.
During the Great Recession of 2008 and 2009, that combined figure never even reached 90 million. But we had a horrifying “unemployment crisis” in 2008 and 2009, and today everything is just fine.
Give me a break. They are gaslighting us really hard, and the vast majority of Americans are going right along with it.
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After all, if the government is telling us something it must be true, right? Sadly, the truth is that we are in the terminal phase of the largest debt crisis in the history of the world.
When Barack Obama entered the White House, we were about 10 trillion dollars in debt.
Now we are 34 trillion dollars in debt…
The U.S. national debt is climbing at a rapid pace and has shown no signs of slowing down, despite the growing criticism of massive levels of government spending.
The national debt — which measures what the U.S. owes its creditors — increased to $34,576,488,508,928.92 as of Wednesday afternoon, according to the latest numbers published by the Treasury Department. That is down about $14.5 billion from the $34,591,001,330,876.91 figure reported the previous day.
By comparison, just four decades ago, the national debt hovered around $907 billion.
About every 100 days, we are adding another trillion dollars to the debt. We are stealing gigantic mountains of money from future generations of Americans in order to make the present more pleasant.
Our politicians are injecting trillions upon trillions of borrowed dollars into the economy, and so our economy should be going gangbusters. But it isn’t. So what would things look like if the borrowing stopped and we actually tried to live within our means?
You might want to think about that for a while. Because this debt cycle is coming to an end, and the crash that is ahead of us is going to be far more horrible than most people would dare to imagine.
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.
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.
