(The Economic Collapse Blog)—For a long time, it has been clear that the middle class is being systematically destroyed. The cost of living has been rising faster than paychecks have for years, and this has pushed millions of Americans into poverty. As for those that were already impoverished, many of them have been pushed out into the streets. According to the Wall Street Journal, homelessness in the United States is increasing at the fastest rate ever recorded in 2023. Anyone that thinks that we do not have a major problem on our hands simply has not been paying attention. At one time, living “the American Dream” was a goal that the vast majority of Americans could aspire to achieve, but now it is out of reach for most of the country. In fact, a report that was just released concluded that it now takes 3.4 million dollars for the typical U.S. household to live “the American Dream” over the course of a lifetime…
The so-called ‘American Dream’ is the benchmark that many people hope to achieve in their lifetime – getting married, buying a home and a car and raising children.
But new analysis has found that achieving these milestones now costs a staggering $3,455,305 – much more than most Americans will make in their lifetime.
One of the biggest amounts is for paying off a mortgage on a property. The average homebuyer will fork out $796,998, according to Investopedia – assuming a 10 percent down payment and a 30-year fixed loan at 7.2 percent interest.
Are you going to make 3.4 million dollars during your working years?
If not, “the American Dream” is not for you. Sorry.
Today, it is only those that are at the very top of the economic food chain that are thriving.
Once upon a time, America had the largest and most prosperous middle class in the history of the world, but now the top 1 percent controls more wealth than the entire middle class…
Thirty years ago, America’s celebrated middle class commanded twice as much wealth as the upper 1%.
Over the years, the rich have grown steadily richer. The top 1% caught and passed the middle class in collective wealth in late 2020, Fed data show.
The top 1% of American earners now control more wealth than the nation’s entire middle class.
This is what happens when power and wealth are highly centralized.
The gap between the wealthy and the rest of us is now bigger than ever.
So good luck trying to live a middle class lifestyle in this environment.
Do you want to buy a couch? Well, the exact same couch that would have cost you $799 in 2019 will now cost you $1,599…
An interior designer has revealed an IKEA couch that used to cost $799 in 2019 is now double the price four years later.
Jilian Dee, a small business owner based in Los Angeles, went viral on TikTok after stitching @loljustmark’s video about the Swedish furniture giant’s ‘crazy’ prices.
Mark, a construction and home décor expert, pointed out that IKEA’s Finnala sofa and chaise now costs a whopping $1,599, saying he wouldn’t pay more than $700 for it.
And don’t even get me started on the price of food.
Beef is already considered to be a “luxury meat”, and it is going to be even more expensive in 2024 because the USDA is projecting that beef production will be way down…
The USDA projects beef production to be down by 180 million pounds over a six-month period by the end of 2023, while the Insider noted that the average size of herds is at 61-year record lows as farmers struggle to feed their animals.
“A lot of our neighbors are selling … The cattle values in general are worth more than they’ve ever been worth before. And quite frankly they’re worth more than what we’re having to pay for hay,” Kent told the FT.
And we are being warned that supplies of many other products in our grocery stores will be getting tighter as well…
As we prepare to step into 2024, it’s important to know what changes are to come over the next year—including the changes that might come to the selection of items at grocery stores.
In 2023, we faced scarcity of several products, from toilet paper to sriracha. Now, there are a few other items that may be become harder to find over the next 12 months.
Factors like environmental challenges, labor shortages, and more could pose a risk to the availability, quality, and affordability of certain spices, dairy products, eggs, seafood, grains, fresh produce, and meat and poultry.
Of course there are some things that you won’t be able to get at all.
Members of Congress have been told that drug shortages in the U.S. recently reached a record high, and this is a problem that is not going away any time soon…
Drug shortages in the U.S. have hit a record high and lawmakers warn they could mean life or death for millions of patients. A House committee is investigating what Congress can do to the supply chain to make sure doctors don’t have to keep rationing essential drugs like cancer treatments.
Health experts agree the shortages of hundreds of generic drugs need urgent attention.
But they’re still trying to build consensus on a remedy.
If you go to the official FDA drug shortage list, you will see that there are 143 entries right now.
And some of the drugs that are in short supply are used millions of times each year…
Critical shortages in the US include albuterol, an asthma and allergy medication used to prevent and treat breathing difficulty; amoxicillin, a crucial antibiotic used to treat bacterial infections, including pneumonia, which is seeing rising cases in the US; epinephrine — or adrenaline — a drug used to treat life-threatening conditions like severe allergic reaction.
According to the Centers for Disease Control and Prevention, there were 54 million prescriptions written for amoxicillin in 2019. In 2020, nearly 62 million albuterol prescriptions were handed out.
I am not going to sugarcoat this for you.
This is a crisis.
In some cases, the lives of American kids are being put in danger because they can’t get the drugs that they desperately need…
One teenage lymphoma patient from Indiana was forced to take a type of chemotherapy that had previously led to a life-threatening allergic reaction, because the medication he had tolerated was out of stock.
Another Florida-based mother of a nine-year-old girl with aggressive Leukemia was told to expect a 15-month wait for a $10 drug that would save the young girl’s life.
So why is this happening?
Well, there are many factors that are contributing to this nightmare, but one of the biggest is the fact that we have become so dependent on China and India…
Another factor driving the problem is the US’ reliance on key materials from China and India to make 95 percent of medicines used in emergency care.
We should have never allowed this to happen.
Coffee the Christian way: Promised Grounds
But we did. And now we will pay a very great price.
If you think that shortages are bad now, just wait until China invades Taiwan. Things will get really crazy at that point.
So I would very much encourage you to prepare in advance for the chaotic times that are rapidly approaching, but unfortunately most Americans still believe that everything will work out just fine somehow.
Sound off about this article and video on our Economic Collapse Substack.
Michael’s new book entitled “Chaos” is now 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.
