Even the most wild optimists are starting to sound like “doom and gloomers”. In fact, even the most optimistic woman on Wall Street is now telling us that the U.S. economy is in a recession right now. At one time, Cathie Wood seemed like she could do no wrong. Many of her wildly optimistic stock predictions kept coming true, and she gained hordes of Internet followers that hung on her every word. In 2020, her ARK Innovation fund outperformed the S&P 500 by a very wide margin, and pundits such as Jim Cramer were calling her a “genius”…
In 2020, Wood’s predictions appeared to be on their way to coming true. She was riding high atop the Fed-driven bull market: Her ARK Innovation fund, often known by its ticker as ARKK, returned some 157 percent during that first year of the pandemic, compared to just 18 percent for the S&P 500 as a whole. It was a legendary performance that drew accolades from various market watchers, including CNBC’s Jim Cramer, who in February of last year tweeted, “Cathie Wood is a genius.”
But these days Cathie Wood sounds like she could be writing for The Economic Collapse Blog. The value of her ARK Innovation fund is down 67 percent over the past year, and she just did an interview with CNBC in which she stated that she believes that the U.S. economy has already plunged into a recession…
Ark Invest CEO Cathie Wood said Tuesday that the U.S. is already in an economic downturn, and she admitted that she underestimated the severity and lasting power of inflation.
“We think we are in a recession,” Wood said on CNBC’s “Squawk Box” Tuesday. “We think a big problem out there is inventories… the increase of which I’ve never seen this large in my career. I’ve been around for 45 years.”
Of course she is far from alone.
Economist Stephen Moore also believes that the U.S. economy has entered a recessionary period…
Economist Stephen Moore warned on Monday that the United States is already in a “soft recession,” noting that the “real question” is now whether the Federal Reserve can achieve a soft landing.
Moore, a visiting fellow at the Heritage Foundation, provided the insight on “Varney & Co.” Monday, reacting to former Treasury Secretary Larry Summers contradicting President Biden on Sunday by saying that a recession was “almost inevitable” in the next two years.
Peter Schiff is even more pessimistic.
In fact, he is using the word “crash” to describe what is ahead for our economy…
Stockbroker Peter Schiff, the chief economist and global strategist of Euro Pacific Capital, went a step further a couple of weeks ago by tweeting that most citizens have given up on the thought of a soft landing for the economy after the Fed’s interest rate hikes and now expect a harder fall.
“The only landing possible is a crash, where everyone on board dies,” Schiff tweeted. “That’s why the Fed won’t even attempt to land and give up its pretend inflation fight.”
Sadly, all three of them are correct.
At the moment, what we are currently experiencing could definitely be described as a “soft recession”, and it will inevitably get a whole lot worse.
And U.S. consumers certainly are not hopeful about the future at this point. On Friday, we learned that U.S. consumer confidence has now dropped to the lowest level ever recorded…
A closely followed University of Michigan survey released Friday found that US consumer sentiment hit a new record low in June -— the lowest recorded level since the university started collecting the data 70 years ago.
The June index saw a 14.4% drop since May as consumers became increasingly alarmed about inflation. About 79% of those consumers said they expected bad times for business conditions in the upcoming year, the highest level for that metric since 2009.
Just think about that for a moment.
In 70 years, U.S. consumers have never been more pessimistic than they are right now.
That is incredible.
Unfortunately, most consumers are also highly vulnerable.
One recent survey found that 58 percent of all Americans are living paycheck to paycheck. So when harder times come and many start losing their jobs, a lot of them are going to be in financial trouble very rapidly.
The pace at which things are now changing really is breathtaking.
Exactly one year ago, it seemed like the U.S. economy was riding high and stock prices would keep going up forever.
But now it appears that the first half of 2022 will end up being the worst first half of a year for the stock market since 1970…
Stocks are about to turn in the worst first half in fifty years when the second quarter wraps on Thursday as inflation sits at a 40-year high.
The S&P 500, the broadest measure of stocks, is down nearly 18% this year the worst since 1970, as tracked by Dow Jones Market Data Group. That makes 2022 the fifth-worst half performance on record.
Trillions upon trillions of dollars of paper wealth has already been wiped out, and we continue to get more bad economic news with each passing day.
And now that the Federal Reserve has decided to foolishly raise rates just as an economic downturn is picking up speed, there is no hope that things will turn around any time soon.
The reckless optimists on Wall Street didn’t see this coming in advance. If Cathie Wood had understood which direction things were about to go, her fund would not be down 67 percent over the past year.
But of course there are countless others on Wall Street that have been hit extremely hard as well.
The end of a party can often come very abruptly. In this case, many investors that didn’t get out in time are now feeling an extraordinary amount of pain.
Unfortunately, a lot more pain is coming for Wall Street and for the economy as a whole.
***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.
Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.
