(The Economic Collapse Blog)—19 months in a row! The Conference Board’s index of leading economic indicators has now fallen for 19 months in a row. When something happens for 19 consecutive months, that is definitely a trend. The economy is clearly in big trouble, and conditions are getting worse with each passing day. But the mainstream media continues to insist that the economy is doing just great.
They tell us that inflation is low, but if it was still measured the way that it was back in 1980, the official rate of inflation would be well into double digit territory. And they tell us that the unemployment rate is low, but if honest numbers were being used the official rate of unemployment would be about 25 percent right now. There are highly qualified people that can’t even get an interview even though they are sending out hundreds and hundreds of resumes. What are they doing wrong?
Of course the truth is that they aren’t doing anything wrong. The employment market is far tighter than we are being led to believe, and that isn’t going to change any time soon.
When a working age American is not working, the government puts that individual into one of two categories. Right now, there are only 6.5 million U.S. adults that are officially considered to be “unemployed”.
But another 99.9 million U.S. adults are considered to be “not in the labor force”. So they don’t count as being “unemployed”.
When you add those two numbers together, you get a grand total of 106.4 million U.S. adults that do not have a job right now. At no point during the economic crisis of 2008 and 2009 did that number even reach 90 million. So don’t let anyone convince you that unemployment is low.
The elite are trying to do their best to convince us that everything is just fine, but meanwhile the Conference Board’s index of leading economic indicators has now fallen for 19 months in a row…
A key measure of the direction of the U.S. economy fell for the 19th straight month and once again indicated that a recession is looming.
The leading economic index fell 0.8 percent in October, the Conference Board said Monday. The LEI is based on 10 indicators that tend to forecast the direction of the economy.
Economists had expected a milder decline of 0.8 percent.
The last time the index declined for 19 months in a row was during the Great Recession when it fell from the end of 2007 through 2009.
The last streak of this magnitude started in 2007. But we didn’t have a recession in 2007. And things still seemed relatively fine in early 2008 too.
Of course then we got to the end of 2008 and everything fell to pieces. That is why they are called “leading” economic indicators.
They tell us what is coming.
And what is coming in our time is not going to be fun.
Needless to say, most of the population is not prepared at all for a major economic storm.
Survey after survey has shown that most of the U.S. population is currently living paycheck to paycheck…
The majority of U.S. adults are living paycheck to paycheck heading into this holiday season, a report shows.
LendingClub’s latest report shows that as of October, 60 percent of adults said they are living paycheck to paycheck. Around 40 percent of consumers consider themselves to be worse off now than in 2022.
Even higher earners are struggling to get by, with 42 percent of those making six figures also living check-to-check under President Joe Biden.
According to a separate CNBC survey, the number of adults struggling to save between checks is up from 58 percent in March.
As long as those paychecks keep coming in, they can keep scraping by from month to month.
But now layoffs are starting to surge again all over the nation.
Young Americans are in particularly dire straits.
Millions upon millions of young Americans have low paying jobs and are deeply struggling with student loan debt, and this is one of the reasons why the average age of a U.S. homebuyer just keeps going higher and higher…
The average American homebuyer is now 49-years-old – 18 years older than in 1981 – as inflation, college costs and house prices make it harder for young people to get a foot on the ladder.
Research by the National Association of Realtors has revealed that the median age of all homebuyers has steadily crept up over the past forty years.
The most shocking contrast is for first time buyers where the median age is now 35, up from 31 in 2013 and 29 in 1981.
The American Dream is now out of reach for most of the nation, and that is especially true among those that are under the age of 40.
But the mainstream media absolutely refuses to acknowledge the truth.
They just keep telling us that things look great for the U.S. economy in 2024 and beyond. The following comes from a Yahoo Finance article entitled “The election year economy looks good for Biden”…
The much-predicted recession still hasn’t arrived. Will it materialize in 2024, at the worst possible moment for President Joe Biden, as he’s trying to convince voters to give him a second term?
It’s not looking that way. As economists roll out their forecasts for 2024, the prevailing theme is moderation: slowing but still-positive economic growth, a declining rate of inflation, and continued low unemployment.
Seriously? Come on man. Do they actually expect us to consume that pablum?
We are already in an economic crisis right now, and things are going to get so much worse during the years ahead.
Coffee the Christian way: Promised Grounds
You can stick your head in the sand and pretend that everything is okay if you want. But nothing is going to change the fact that the “endgame” has arrived.
Decades of very foolish decisions have brought us to this stage, and now we are truly going to reap what we have sown.
Sound off about this article 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.
