You have got heard me say it again and again. What we’re witnessing proper now jogs my memory a lot of 2008, and all of us keep in mind what occurred within the fall of 2008. That doesn’t imply that this new disaster will unfold precisely the identical approach that the final one did. Finally, each financial downturn is exclusive. However the truth that we’re seeing so many parallels between what’s transpiring now and what transpired 14 years in the past ought to deeply alarm all of us. We look like on the precipice of one other financial crash, and the entire “options” that our leaders give us simply appear to make issues even worse.
Hopefully somebody on the market can discover a method to pull a miracle out of a hat and a worst case situation will be averted.
However I wouldn’t rely on that occuring. The next are 12 numbers that present that we’re getting dangerously near an financial crash as the autumn of 2022 approaches…
#1 The federal government is telling us that the unemployment fee solely went as much as 3.7 p.c in August.
#2 In keeping with John Williams of shadowstats.com, if sincere numbers have been getting used the actual fee of unemployment in the USA could be over 24 p.c.
#3 About half of all U.S. corporations say that they are going to be eliminating jobs inside the subsequent 12 months.
#4 The federal government is telling us that the inflation fee in the USA is just 8.5 p.c.
#5 In keeping with John Williams of shadowstats.com, if the speed of inflation was nonetheless calculated the way in which that it was again in 1980, the actual fee of inflation could be someplace round 17 p.c proper now. That’s worse than something that we skilled in the course of the Jimmy Carter period.
#6 At one firm, the variety of Individuals taking out short-term loans for groceries has almost doubled this yr.
#7 One out of each 5 house sellers in the USA dropped their asking value final month. That is extra proof that house costs are beginning to quickly transfer in a downward course.
#8 Gross sales of previously-owned houses have been about 20 p.c decrease this July than they have been final July.
#9 One latest survey discovered that 3.8 million Individuals consider that they may very well be evicted from their houses inside the subsequent two months.
#10 In keeping with the Nationwide Power Help Administrators Affiliation, roughly 20 million U.S. households are at the moment behind on their utility payments.
#11 The Dow Jones Industrial Common has fallen for 3 weeks in a row. We additionally witnessed this kind of a gradual slide simply previous to the massive crash of 2008.
#12 In August, a whopping 2,150 company executives offered off shares of their corporations. Are they making an attempt to money in whereas they nonetheless can?
Gustavo Arnal was one of many company executives that lately offered off giant quantities of inventory.
Now he’s lifeless…
The person who jumped to his loss of life from the 18th flooring of the well-known ‘Jenga’ tower in decrease Manhattan’s Tribeca neighborhood Friday has been recognized as a Mattress Bathtub & Past government.
Gustavo Arnal, 52, was the Chief Monetary Officer of Mattress Bathtub & Past, an organization that has been going via struggles of late attributable to excessive inflation and a sagging financial system. The corporate introduced plans to shut 150 shops, of its roughly 900, and lay off 20 p.c of workers simply two days earlier than Arnal’s loss of life.
He reportedly offered over 42,000 shares within the firm, oft-identified as a ‘meme inventory’, for $1million simply over two weeks in the past, in line with MarketBeat.com.
It seems that Arnal was concerned in a “pump and dump” scheme, and he might have determined that he didn’t wish to spend a lot of the remainder of his life locked away in jail…
The manager vp and chief monetary officer of Mattress Bathtub & Past who plunged to his loss of life from the 18th flooring of a New York Metropolis skyscraper on Friday was the topic of a class-action lawsuit alleging that he and majority shareholder, GameStop Chairman Ryan Cohen, had artificially inflated the corporate’s worth in a “pump and dump” scheme.
Gustavo Arnal, 52, and Cohen, are listed as defendants within the class-action lawsuit filed final month in the USA District Courtroom for the District of Columbia.
Sadly, I feel that we are going to see fairly a number of extra folks leaping off of buildings earlier than this entire factor is over.
After all most Individuals would by no means do such a factor.
Most Individuals will simply undergo via no matter comes at the same time as their way of life is being systematically destroyed.
For instance, CNN lately interviewed one younger mom that couldn’t even afford to purchase a backpack for her preschooler…
As Sarah Longmore completed her back-to-school buying, the mom of 5 checked out a $25 backpack for her preschooler. Hovering inflation had crunched the household’s finances, and she or he determined her daughter may make do with a hand-me-down. She put the backpack again.
Sadly, she shouldn’t be alone.
In truth, one latest ballot discovered that solely 36 p.c of all mother and father will “be capable to pay for all the things their youngsters want this faculty yr”…
Simply 36% of fogeys mentioned they’d be capable to pay for all the things their youngsters want this faculty yr, in line with Morning Seek the advice of’s annual back-to-school buying report. That’s down sharply from 52% in 2021, when inflation was decrease and stimulus checks plus advance youngster tax credit score funds helped some households.
Are issues actually this unhealthy already?
In that case, what’s going to circumstances seem like six months or a yr from now?
2023 is lower than 4 months away, and the stage has been set for an financial implosion of completely epic proportions.
Do you keep in mind the acute ache that our nation went via in 2008 and 2009?
Many consider that what’s forward might be even worse.
The best debt bubble within the historical past of the world is beginning to burst, and central banks all around the globe are beginning to panic.
If you happen to at all times wished to stay in “fascinating” instances, you will get your want.
However for most individuals, the instances that we’re transferring into won’t be enjoyable in any respect.
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