I just sent out my warning on an imminent economic disaster ...
Howdy All ...
This is my warning on a Severe Economic Recession Imminent ... All the problems are beginning to cascade, which is going to provide an exponential negative impact on the economy ...
Some new factors ...
Inflation is currently running at a annual rate of from 15 to 20 percent for what us regular folks spend money on ... Check out Shadowstats.com ... The core rate of inflation is currently at around 5%, but it does not include food, energy, or housing ... Our electric bill went up 35% June 1st per kwh ... Our car insurance went up 130 dollars for the coming six months, which is around a 17% increase ... Everything we are spending money on is costing much more, which makes sense ... The inflation increase started happening in the Spring of 2022, and it takes 12-18 months for it to cycle through the economy.
There is a shortage of labor ... The Disability rate and the new category of "Unable to work" has increased by over 3 Million jobs ... This is an unheard of rate, and is the largest number ever recorded. I would say it is due to the VAX shots plus boosters as this is the one variable since 2021 that has changed ... Keep in mind that these mRNA ingredients in the vaxes are being added to the flu, shingles, and pneumonia vaccines ... The only shot we will take right now is the Tetanus shot.
The current federal debt for the year is over 1.6 Trillion dollars and will be close to 2 Trillion by the end of the federal fiscal year on sept 30th. Service on the debt, will be over 900 Billion Dollars a year next fiscal year. And the Federal Reserve is still saying they will continue to raise the federal funds rate ... So far from around 0 to 5.25% over the last year and a half ... Absolutely astronomical. All this money is being monetized and adding to money in circulation ... When there is more money chasing the same or less amount or goods, prices have to increase more than whatever normal is.
The average price for a two bedroom apartment is now around 1400 dollars a month. This is money spent with no equity gain. Our house payment in 1993 was approx 1400 dollars a month including escrow ... The average new house just increased to over 400,000 dollars ... Which at a current average fixed rate of 7+%, means folks will be spending from 3500 to 4000 dollars a month before even one dollar of principal is paid.
Used car prices are now declining, and Repo's are increasing at an exponetial level. Just the cost of fixing a car has increased by over 20% in the last year, and there are shortages in parts. Shortages in General are getting much worse.
U.S. imports declined 20% in the month of July ... People are buying less as Discrentionary expenditures are declining ... Around 2/3 of the households in the U.S. are single parent households ... I have no idea how they are keeping their heads above water.
Banks are increasing credit card limits, and many folks are getting their home equity lines of credit increased ... Meanwhile, the home equity rates are from 9-10% and the average credit card rate is 22% ... More money that just evaporates ... These are variable rate loans that just increase with the interest rates.
Homelessness is increasing at exponential rates ... So are Drug Overdoses ... And so much more ...
Paula and I are making our final plans for a disintegrating economy ... Filing Gas cans, Replacing old appliances/utility devices with new ones ... Making sure we have lots of bottled water, and Most Imprtantly ... We will be debt free by March 1st of next year ... Also putting our money tangible items we can touch ... Credit Unions and small community banks are key ... These large banks are in a whole lot of trouble, as hundreds of billions of dollars of deposits are being pulled out of the banks ... And they have a huge exposure in the commercial real estate market, which is crashing now.
And there is so much more ...
Please get prepared, and God Bless
