Inflation is going down! Isn’t that wonderful? When many less educated Americans hear this news, they will think that prices are going down. But that is not true at all. In fact, prices are still going up. They are just going up at a slower rate than they were before. According to the federal government, the Consumer Price Index was only 3 percent higher in June 2023 than it was in June 2022. That sounds like pretty good news, but it is imperative to realize that the formula used for the Consumer Price Index has literally been changed dozens of times over the decades. If the rate of inflation was still calculated the way that it was back in 1980, it would still be well into the double digits.
So we should be thankful that prices have moderated a bit (for now), but anyone that believes that inflation is “under control” is just being delusional.
Month after month, the cost of living just keeps becoming more oppressive for average Americans. At this point, U.S. families are under so much financial stress that they are even “skimping on everyday items such as toothpaste and toilet paper”…
Americans are skimping on everyday items such as toothpaste and toilet paper in a troubling sign for the US economy and major manufactures, financial experts have warned.
Personal hygiene products have taken a hit – with units of toothpaste, laundry detergent and toilet paper sold down three to four percent in the year through June 24, according to data from NIQ, Bloomberg reported.
Americans are also opting for cheaper brands and budget stores to combat inflation, in a blow to manufacturing giants such as Procter & Gamble and a boost to the likes of Dollar General.
Surveys have shown that more than 60 percent of the population is living paycheck to paycheck, and the reality of the matter is that a lot of us are looking to cut back anywhere that we possibly can.
Sadly, that even includes school supplies. According to Zero Hedge, it is being projected that back-to-school spending will decline “for the first time in nine years”…
According to a Deloitte survey released on Wednesday, back-to-school (BTS) spending, the second-largest spending event for families after the holiday season, is anticipated to decline for the first time in nine years. The survey’s findings indicate that consumers are struggling amid the two-year inflation storm, raising concerns about the success of “Bidenomics.”
Inflation has been eroding our standard of living for decades, and now we are at a point where tens of millions of Americans are just barely scraping by from month to month.
Once upon a time, anyone with a middle class income could afford to buy or rent a decent home or apartment.
But now it takes more than a middle class income to even rent a “glorified dungeon” in New York City…
A tiny disused space which has been turned into a $2,300-a-month apartment has been dubbed as nothing more than a ‘glorified dungeon.’
Popular TikTok account NYC Sales & Rentals took to the video sharing platform to showcase the bizarre set-up.
It revealed how the unusual apartment in central Harlem could be found at the back of the lobby, hidden behind the laundry room.
When I see stuff like that, it makes me very angry.
I simply cannot understand how anyone can possibly believe that the cost of living is under control.
It isn’t.
And more inflation is coming. Now that the “debt ceiling crisis” is over, our politicians in Washington have added a trillion dollars to the national debt in just five weeks…
It looks like the Biden-McCarthy “Fiscal Responsibility Act of 2023” will rival the Inflation Reduction Act (Green New Deal) in its Orwellian meaning and outcome. Just five weeks after the deal was hatched, the Treasury has issued over $1 trillion in new debt!
This is simply astounding. It took from our founding until 1980 to accrue the amount of debt that we have now added in just over five weeks. It is truly hard to overstate the magnitude and impact of this spending.
Pumping so much money into the economy in such a short period of time is highly inflationary.
If our “leaders” in Washington were serious about getting inflation under control, they would stop borrowing and spending so much money.
But they will never do that.
So it is up to the Federal Reserve to try to do something about inflation, and it appears that they are gearing up for yet another interest rate hike…
Despite the slowdown in inflation, policymakers are widely expected to approve another quarter-percentage point hike at the conclusion of their two-day meeting. An overwhelming percentage of traders – more than 92% – anticipate the Fed will lift interest rates again at the end of the month.
Reading that makes me want to tear my hair out.
U.S. home values have already fallen by more than 100 billion dollars as the housing bubble bursts, and the commercial real estate market is coming apart like a 20 dollar suit.
As a result, small and mid-size banks all over the country are experiencing great pain, and loan losses are rising at a very frightening pace…
The major U.S. banks are set to report the biggest jump in loan losses since the COVID-19 pandemic, as rising interest rates put mounting pressure on borrowers across the country.
There is no way in the world that the Federal Reserve should be thinking about raising interest rates even higher.
But they are going to do it anyway.
Sometimes I feel like I am banging my head into a brick wall.
Coffee the Christian way: Promised Grounds
No matter how much we may object, our “leaders” just keep making incredibly foolish decision after incredibly foolish decision.
And it isn’t just the economy. Decades of incredibly foolish decisions in all areas have literally brought us to the brink of national suicide.
So please don’t be fooled when the mainstream media tells you that inflation is “under control” and that the outlook for the economy is improving.
The truth is that our long-term problems continue to escalate, and everything that those in power do to “fix things” just makes matters even worse.
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.
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.
