(The Economic Collapse Blog)—Many among the elite don’t really care that tens of millions of Americans on the bottom of the economic food chain are deeply suffering right now. It is being reported that approximately 93 percent of all stock market wealth held by U.S. households is controlled by the top 10 percent, and the stock market has been performing remarkably well in recent months.
As long as their stock portfolios look good, there won’t be too much concern about the economic pain that the masses are experiencing. But they should care, because what we are witnessing is going to deeply affect all of us.
2023 was really tough for much of the country, and many of the economic trends from last year just continue to intensify.
For example, just look at what is happening at food banks all over the nation. At one location in southern California, demand is up almost 60 percent since before the pandemic…
The nonprofit Second Harvest Food Bank of Orange County, which provides food for 400,000 people a month in Orange County, has seen a nearly 60 percent increase in demand since before the pandemic.
“If we are really going to help lift people out of poverty, they need fresh food,” Claudia Keller, CEO of Second Harvest Food Bank of Orange County,
At a food bank in the Big Apple, demand has actually doubled since before the pandemic, and now they are being forced to turn people away due to a lack of food…
The shelves at a Bronx food pantry have been bare for the past two weeks as hungry New Yorkers face heightened food insecurity at the beginning of the New Year.
The Albanian American Open Hand Association (AAOHA), located in Pelham Parkway, fed around 800 weekly before the pandemic, but that has since doubled to 1,600.
For the first time in 10 years, the pantry has been forced to turn people away.
This is something that is going to become increasingly common.
From coast to coast, donations are down and food costs are up, and so in the months ahead more desperate Americans that have lined up for hours at food banks around the nation will be told that there is “no food today”…
Food pantry president Alexander Nilaj told The Post Tuesday that he has had to turn them away.
“It’s very heartbreaking. People line up at six or seven in the morning,” the 52-year-old said in a phone interview. “We tell them: ‘Don’t wait, we have no food today.’”
Despite all of the happy talk that we are constantly getting from the Biden administration and the mainstream media, the truth is that poverty is exploding and homelessness in the U.S. has been growing at the fastest pace ever recorded…
Homelessness is on the rise in the United States, and it’s growing at a rate never seen before, according to data released Friday by the U.S. Department of Housing and Urban Development.
The 2023 Annual Homeless Assessment Report shows that more than 653,000 people were experiencing homelessness in the U.S. — marking a 12% increase from 2022. The report uses compiled Point-In-Time Count data — a method that attempts to count every person living homeless one day out of the year — from across the nation to track the ebbs and flows of the nation’s homelessness crisis.
Unfortunately, our economic problems appear to be accelerating.
According to the government’s own numbers, the U.S. lost a whopping 1.531 million full-time jobs in December alone.
And layoffs continue to be announced at a furious pace here in January. Earlier today, I was stunned to learn that Pixar has decided to conduct mass layoffs…
Walt Disney’s Pixar Animation Studios is set to cut jobs as the studio has completed production on some shows and now has more staff than it needs, a source familiar with the situation told Reuters on Thursday.
TechCrunch reported earlier that Pixar was set to undergo layoffs as high as 20% this year, with the studio’s team of 1,300 people reduced to under 1,000 over the coming months.
Twitch is laying off workers too. In fact, more than a third of their workers will soon be searching for new employment…
Amazon’s livestreaming platform, Twitch, announced it would cut 35% of its workforce in a blog post.
“As you all know, we have worked hard over the last year to run our business as sustainably as possible,” wrote Twitch CEO Dan Clancy in a blog post. “Unfortunately, we still have work to do to rightsize our company, and I regret having to share that we are taking the painful step of reducing our headcount by just over 500 people across Twitch.”
Sadly, even Google is laying off workers at this stage. We are being told that “hundreds of staff” are getting the axe…
Google has laid off hundreds of staff across the company as it tries to cut costs and focus on artificial intelligence.
The tech titan confirmed the new wave of mass firings on Wednesday night, which employees claimed was more than 1,000 people.
Welcome to 2024.
This is going to be such a crazy year.
And as more companies lay off workers, large numbers of Americans won’t be able to pay their bills.
In fact, credit card delinquency rates at all stages have already surpassed pre-pandemic levels…
More Americans are buckling under the weight of mounting credit card debt.
All stages of credit card delinquency (30, 60 and 90 days past due) jumped higher during the third quarter of last year, surpassing pre-pandemic levels for the first time, according to a report released Thursday by the Federal Reserve Bank of Philadelphia.
Don’t let anyone tell you that the economy is in good shape.
The elite may be doing just fine for the moment, but most of the country is really struggling.
Do you remember the tremendous suffering that we witnessed during the Great Recession?
Well, what is ahead will be even worse.
A giant economic mess has already begun, and 2024 will be even more painful than 2023 was.
Coffee the Christian way: Promised Grounds
Sound off about this story on the 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.
