(The Economic Collapse Blog)—History is starting to repeat itself. In 2008, bond prices crashed before stock prices did. Here in 2023, bond prices are crashing again. In fact, we are currently witnessing one of the greatest financial crashes in U.S. history at this moment. Of course most Americans have absolutely no idea that this is happening. Most Americans don’t know anything about the bond crash that is causing a tremendous amount of fear in the financial community right now, and that is because the big news networks aren’t talking about it too much. But it is serious. Since the peak of the market, 10 year bonds are down 46 percent and 30 year bonds are down 53 percent…
Losses on longer-dated Treasuries are beginning to rival some of the most notorious market meltdowns in US history.
Bonds maturing in 10 years or more have slumped 46% since peaking in March 2020, according to data compiled by Bloomberg. That’s just shy of the 49% plunge in US stocks in the aftermath of the dot-com bust at the turn of the century. The rout in 30-year bonds has been even worse, tumbling 53%, nearing the 57% slump in equities during the depths of the financial crisis.
We haven’t seen anything like this in many years.
As bond yields go up, bond prices go down.
And the last time the yield on 10 year bonds rose to this level was “just before the 2008 financial crisis”…
At the center of the storm is the 10-year Treasury yield, one of the most influential numbers in finance. The yield, which represents borrowing costs for issuers of bonds, has climbed steadily in recent weeks and reached 4.8% on Tuesday, a level last seen just before the 2008 financial crisis.
We are witnessing the exact same pattern that we witnessed in 2008 and during other financial panics.
Bonds crash first, and then stocks crash later.
I have warned over and over again that high interest rates were going to have an absolutely devastating impact on our system, and now it is staring to happen.
Our banks are going to be in so much trouble. They were already sitting on hundreds of billons of dollars in unrealized losses, and the spike in bond yields in recent weeks has pushed that number even higher.
Meanwhile, mortgage rates continue to soar…
Freddie Mac’s latest Primary Mortgage Market Survey released Thursday shows the average rate for the benchmark 30-year fixed-rate mortgage jumped to 7.49%, up from 7.31% last week and from 6.66% a year ago.
The rate for a 15-year mortgage also climbed, averaging 6.78% after coming in last week at 6.72%. One year ago, the rate on a 15-year fixed note averaged 5.9%.
These high rates are absolutely paralyzing the housing market.
Millions of potential buyers have been forced to the sidelines, because high rates have made housing “unaffordable” in 99 percent of all U.S. counties…
Housing prices are growing more unaffordable even with the astronomical rise in mortgage rates, putting ownership out of reach for millions of Americans.
That’s according to a new report published by real estate data provider ATTOM, which examined 572 U.S. counties and determined that median home prices in 99% of those areas are out of reach for the average income earner, who makes about $71,214 annually.
“The latest trend continues a two-year pattern of homeownership getting more and more difficult for average U.S. wage earners,” the report said.
The home prices that we are seeing today are absolutely insane.
Recently, a 565 square foot house in West Hollywood “sold for a whopping $1.1 million”…
A miniature home in Los Angeles’ West Hollywood neighborhood recently sold for a whopping $1.1 million despite only offering 565 square feet inside.
The 1924 Craftsman-bungalow – settled on a 2.240 square foot lot – is tucked away behind a row of hedges and located just across the street from a fire station.
I couldn’t imagine paying that much for a glorified closet. But apparently someone out there had money to burn.
Of course most homes are not selling at this point. In fact, sales of existing homes have fallen by about a third over the past year. So something has got to give. Either the Federal Reserve has got to dramatically reduce interest rates or home prices have got to fall. And the Federal Reserve is not planning to reduce interest rates any time soon.
Unfortunately, Fed officials keep talking about the possibility of raising them even higher. So a lot more pain is coming, and the American people are getting restless.
If you can believe it, a recent Rasmussen survey discovered that more than half of all U.S. adults believe that we will experience “another Great Depression” within the next few years…
Despite claims by President Joe Biden about the strength of America’s economy, most Americans still think we’re headed toward another Great Depression.
The latest Rasmussen Reports national telephone and online survey finds that 52% of American Adults believe it is likely that, over the next few years, the United States will enter a 1930s-like depression, including 21% who say a major depression is Very Likely. Thirty-six percent (36%) don’t think another Great Depression is likely over the next few years, including 11% who say it’s Not At All Likely. Another 11% are not sure.
Even though they may not understand the specifics, most Americans can feel that something has gone horribly wrong. But things didn’t have to turn out this way.
You see, the truth is that we didn’t learn our lessons from the last financial crisis. Instead of fixing the system, we created bubbles that were even bigger. Now that bonds have crashed, it is just a matter of time before stocks crash too. And we are headed for an economic meltdown of epic proportions.
The months and years ahead are going to be incredibly challenging. So I hope that you have been preparing for difficult times, because the nightmare that many of us have been warning about has already begun.
Sound off about this article on our Economic Collapse Substack.
Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
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.
