With alarming reports showing inflation skyrocketing – and that is even with the BS numbers they are admitting to — and a significant drop in income for US households, it’s becoming increasingly clear: we’re teetering on the edge of an economic collapse. For years, we have warned about this looming disaster, telling our readers to prepare for the real economic threat. As the evidence mounts, it’s not just about being ready—it’s about bracing for the coming chaos.
Mortgage Meltdown: Mortgage rates are racing toward an unprecedented 8%. Homes that were once within reach for many Americans are now unaffordable in 99 percent of US counties. Homeownership, once a pillar of the American Dream, now seems like a far-off fantasy for many.
Tumultuous Bond Market: With soaring US government bond yields, September saw a shock wave through global markets. Some long-dated Treasury securities are trading below 50 cents on the dollar, a crisis level not seen since the 2008 financial meltdown. The mounting fear? More banks might collapse, reminiscent of Silicon Valley Bank and Signature Bank’s downfall last March.
Credit Card Crisis: Credit card companies are experiencing losses at a pace not seen in three decades. Since the beginning of 2022, the rate of losses has been soaring, rivaled only by the 2008 recession’s downturn.
Bankruptcy Boom: Americans filed more than 39,000 bankruptcy cases in August 2023, an 18% increase from last year. This grim statistic marks a year-long trend of rising bankruptcy filings, clearly indicating the devastating impact of the current administration’s economic policies.
Runaway Prices: American Households Spending $709 More for Same Goods as Two Years Ago. In fact, even CNN had to admit that even small comforts aren’t immune to the crunch. For instance, a box of Girl Scout cookies is now priced at a staggering six dollars. These gigantic spikes in everyday items indicate that our standard of living is deteriorating rapidly.
Americans have lost over $7,100 in spending power since January 2021: According to a report by the Heritage Foundation, inflation during Biden’s reign has caused the average American family to lose around $7,100 in buying power.
Despite these glaring red flags, the mainstream narrative largely dismisses concerns. But for those paying attention, the warning signs have been flashing for a while.
Breaking Down America’s Financial Disarray: By The Numbers
- Unbridled Borrowing: An astonishing average of $5.2 billion being borrowed every day for the upcoming decade!
- Sky-High Interest Payments: We’re poised to dish out an astounding $1 trillion on interest alone in a single year.
- Tax Revenue Decline: A concerning drop of about 8% in tax revenue over the recent 12 tumultuous months.
- Mounting National Debt: An alarming increase of $8 trillion to our national debt in a mere 3 years.
- The Aftermath of the Debt Ceiling “Crisis”: Since this crisis, the debt has surged by $1.5 trillion, and the climb shows no signs of stopping.
- Runaway Government Spending: Expenditures in 2023 have soared by 40% compared to 2019 figures, raising questions about fiscal responsibility.
- Dodging Default… But At What Expense?: We narrowly escaped default by uncapping the debt ceiling until 2025. Yet, this is just a temporary band-aid.
- A Looming Debt Disaster: Projections show our Debt-to-GDP ratio catapulting to a mind-boggling 225% by 2050. This ticking financial time bomb is a catastrophe waiting to happen!
- Total consumer debt has soared to a staggering new high, surpassing $31 trillion, as homeless encampments start to overwhelm a number of cities throughout the United States.
The catastrophic reality playing out across the American economy is not an accident. It’s a direct result of the COVID-era nightmare and reckless decision-making of the Biden administration. Coupled with that with the latest push to use climate change as the next excuse for lockdowns and economic killing policies, and you have a disaster that is only getting started.
We are living through some incredibly turbulent times, and sadly, we believe things are just getting started.
Crime and violence surges in our cities, further indicating societal unrest and instability are becoming a significant threat to how we live. Democratic-run cities are witnessing a horrifying surge in criminal activities—from carjackings, lootings, and serial shoplifting to gang-related crimes. Philadelphia, for instance, is under siege from looters and thugs, tearing the fabric of community life to shreds.
And what’s even more concerning is that this crime wave isn’t restricted to impoverished neighborhoods; it’s widespread, now affecting every American, irrespective of their socio-economic status. Stories of citizens becoming victims in their towns are heartbreaking. In the Bay Area, a homeless serial shoplifter escalated his crime spree by setting a store clerk on fire.
Meanwhile, residents in the San Francisco Bay are grappling with “pirates.” Yes, you heard that right; they now have pirates who are raiding their homes, homes, and boats on the bay, causing chaos and fear for local residents.
Houseboat and yacht residents in the San Francisco Bay have sounded off about incidents of piracy skyrocketing by marauders pillaging and plundering from their watercraft — and even stealing entire boats as The Golden City faces a crime crisis.
“The open shoreline of the [Oakland-Alameda] Estuary is littered with sunken wrecks and derelict, end-of-life vessels, and crime has risen to truly intolerable levels,” former harbormaster Brock de Lappe said during a San Francisco Bay Conservation and Development Commission enforcement meeting, according to a Monday Fox News Digital report.
“Multiple vessels have been stolen and ransacked. Victims have had to confront the criminals personally to recover their property without the benefit of police support. Is this appropriate activity for a 79-year-old senior?”
In addition to these localized crimes, we’re also grappling with the broader issue of illegal immigration, which is bolstering the rapid growth of criminal gangs. Chinese nationals illegally crossing our Southern border is up 920%, with millions of fighting-age men streaming into the USA from around the world.
Sadly, our borders remain porous under the Biden administration, allowing an unchecked influx of criminals and people we cannot afford to be here. And as we’ve seen time and again, this only serves to amplify the problems we’re facing.
We have been sounding the alarm for years, urging fellow Americans to prepare for the worst. With the convergence of economic downturns and rising crime, we’re not just looking at a bleak future—we’re staring down the barrel of an economic shotgun.
Our communities, homes, and way of life are threatened. As the economic storm clouds gather, it’s time for every American to ask themselves: Are you prepared for what’s coming?
In many ways it is already here, and millions of American families are already living the nightmare. This economic crisis is not to be taken lightly, it is one of the biggest threats we face. Don’t wait for the mainstream media to tell you how bad it is, take action now to protect yourself and your loved ones.
We advise reading our article on Preparing for an Economic Collapse. We talk about the history of economic collapses, list the steps you need to take, and talk about what will most likely happen when the banking system goes down. You can read the article here.
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