[ DONATE TO RMN ] [ Return to Main Page ] [ Read Prev Article ] [ Read Next Article ] [ CGI Media News Room ] [ SUBSCRIBE TO RMN ]

RMN is Reader Supported

Our Goal for
DEC 8 - JAN 5:
$1,450

Powered by FundRazr

Click Widget
or Click Here to contribute.

Checks & Money Orders:

Raye Allan Smith
P.O. Box 95
Ashtabula, OH 44005


Users Online:
134

Who Founded RMNews?


Dewitt Jones' Video
"Celebrate What's Right
With The World"


"When the
Starships Fly!"

Listen at YouTube


The Theme for The Obergon Chronicles

Listen at YouTube


The Obergon Chronicles ebook


RUMOR MILL
NEWS RADIO


CGI ROOM
Common Ground
Independent Media


WHAT ARE
THE FACTIONS?


THE AMAZING
RAYELAN ALLAN


BIORHYTHMS

LOTTO PICKS

OTHER WAYS TO DONATE





RUMOR MILL NEWS AGENTS WHO'VE BEEN INTERVIEWED ON RUMOR MILL NEWS RADIO

______________

NOVEMBER 2008

Kevin Courtois - Kcbjedi
______________

Dr Robin Falkov

______________

Melinda Pillsbury Hr1

Melinda Pillsbury Hr2

______________

Daneen Peterson

______________

Daneen Peterson

______________

Disclosure Hr1

Disclosure Hr2
______________

Scribe
______________

in_PHI_nitti
______________

Jasmine Hr1
Jasmine Hr2
______________

Tom Chittum Hr1
Tom Chittum Hr2
______________

Kevin Courtois
______________

Dr Syberlux
______________

Gary Larrabee Hr1
Gary Larrabee Hr2
______________

Kevin Courtois
______________

Pravdaseeker Hr1
Pravdaseeker Hr2
______________

DECEMBER 2008

Tom Chittum
______________

Crystal River
______________

Stewart Swerdlow Hr1
Stewart Swerdlow Hr2
______________

Janet Swerdlow Hr1
Janet Swerdlow Hr2
______________

Dr. Robin Falkov Hr1
Dr. Robin Falkov Hr2
Dr. Robin Falkov Hr3

JANUARY 2009 ______________

Patriotlad
______________

Patriotlad
______________

Crystal River
______________

Patriotlad
______________

Dr. Robin Falcov
______________

Patriotlad

FEBRUARY 2009

Find UFOs, The Apocalypse, New World Order, Political Analysis,
Alternative Health, Armageddon, Conspiracies, Prophecies, Spirituality,
Home Schooling, Home Mortgages and more, in:

The Rumor Mill News Reading Room

7 Trends Which Indicate That Economic Disaster Is Approaching Very Rapidly

Posted By: NightSky
Date: Monday, 7-Aug-2023 11:57:34
www.rumormill.news/227196

~NightSky

By Michael Snyder

The economic meltdown that is coming should not be a surprise to anyone. Throughout U.S. history, there have always been signs that a major downturn was coming, and that is precisely what we are witnessing right now. Tax revenues are way down, demand for trucking services is way down, demand for cardboard boxes is way down, the money supply is shrinking at the fastest pace in modern history, and the Conference Board’s index of leading economic indicators has already declined for 15 months in a row. At this point, anyone that cannot see what is coming has got to be willingly blind. The following are 7 trends which indicate that economic disaster is approaching very rapidly…

#1 When economic activity slows down, less tax revenue comes in. Right now, federal government and state government tax revenues are declining precipitously…

US state and local governments just experienced the worst decline in income tax revenues ever recorded.

This was the second steepest year-over-year percentage decline in history, with only the GFC having a worse outcome.

Note that Federal tax receipts are also dropped again, now at recessionary levels and approaching -10% on a YoY basis.

#2 When the economy slows down, trucking companies see less demand for their services. So it is deeply alarming that truck freight volume and spending absolutely plummeted during the second quarter…

Truck freight volume and spending in the second quarter of 2023 declined by the highest levels since the early days of the pandemic, the latest U.S. Bank Freight Payment Index revealed. Spending by shippers dropped 10.9% compared to the second quarter of 2022 while shipment volume dropped 9%, according to a statement from the Minneapolis-based bank.

#3 Employment is supposed to be the “bright spot” for the economy, but the latest employment report shows that the U.S. actually lost 585,000 full-time jobs last month…

Well, one look at this month’s adjustment and it’s literally a shocker: you will not hear anyone from the Biden admin or associated economist cheerleaders mention this, but the BLS reported that in July the number of full-time jobs plunged by 585,000 to 134.274 million, the biggest monthly drop since record covid crash of 14.7 million jobs!

#4 U.S. employers have already announced more job cuts this year than they did in all of 2022, and the hits just keep on coming…

CVS Health said Monday it is cutting approximately 5,000 jobs to focus more on healthcare services for its customers.

The move, which is supposed to help the company save money, will affect workers primarily in corporate jobs, the Wall Street Journal reported.

#5 Thanks to rapidly rising interest rates, monthly costs for new homebuyers are almost 20 percent higher than they were a year ago. This is absolutely crushing the housing market…

The monthly cost for a potential homebuyer has surged nearly 20% compared with a year ago as prices remain elevated, according to new data.

During the four-week period ending July 30, the monthly mortgage payment for the typical U.S. homebuyer sat at $2,605, 19% higher than the same period a year earlier, according to Redfin.

#6 The fact that delinquency rates for commercial real estate mortgages are skyrocketing is yet another sign that we are in the early stages of the worst commercial real estate crisis in all of U.S. history…

The delinquency rate of commercial real estate mortgages on office properties that had been securitized into Commercial Mortgage-Backed Securities (CMBS) spiked to 5.0% by loan balance in July, up from a delinquency rate of 2.8% in April, having now spiked by 2.2 percentage points in three months, by far the biggest three-month spike in the data going back to 2000, and by 3.4 percentage points so far this year, by far the biggest seven-month spike, according to Trepp, which tracks and analyzes CMBS.

#7 The share of the U.S. population that cannot even afford “a $400 emergency expense” just continues to go up…

“The share of U.S. adults who said they would cover a $400 emergency expense with cash or equivalents dropped by 2 percentage points from the previous quarter to 46%, highlighting how cash-strapped many Americans are despite the recent decrease in headline inflation,” according to the survey developed by Bloomberg and conducted by intelligence company Morning Consult.

But Joe Biden and his defenders continue to insist that everything is just fine.

In fact, Joy Behar is quite certain that “the economy is booming” right now…

Leftist Joy Behar — who reportedly earns $7 million annually as a co-host on “The View” — said on Friday’s program that “the economy is booming” and “people are having an easier time putting bread on the table” in a passionate defense of President Joe Biden.

For those that are making millions of dollars a year, I am sure that everything must seem great.

But for the rest of us, things are tough.

Meanwhile, our banks continue to experience really weird “technical glitches”. For example, in recent days many Wells Fargo customers have been greatly upset about money disappearing from their accounts…

On X, the platform formerly known as Twitter, users complained about their disappearing funds. One bank customer said they saw the news about the problem right as they noticed their deposits weren’t in their account.

“Right before this popped up in the news I saw that my deposits weren’t in my account,” their tweet read. “I was trying to pay bills and none would go through. This is so unacceptable.”

The company responded in a statement to CNN that a “limited amount” of their customers are experiencing the disappearing deposits. They said most of them were “resolved” and that they would fix the problem soon.

This is another example which shows why it is wise to never keep all of your eggs in one basket.

Our financial institutions are far more vulnerable than most people realize, and the cyberattacks that we have seen so far are just a small preview of what is coming.

Unfortunately, most Americans don’t understand any of the things that I have discussed in this article.

Most Americans are simply trusting that our leaders have everything under control, and so they will be bitterly, bitterly disappointed when they finally realize the truth.

-----------

About the Author: My name is Michael and my brand new book entitled “End Times” is now available on Amazon.com. In addition to my new book I have written six other books that are available on Amazon.com including “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending copies as gifts to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible. I have also started a brand new Substack newsletter, and I encourage you to subscribe so that you won’t miss any of my articles. I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is definitely a great help. These are such troubled times, and people need hope.

http://theeconomiccollapseblog.com/7-trends-which-indicate-that-economic-disaster-is-approaching-very-rapidly/




If you enjoyed this article,
Please consider a monthly subscription to Rumor Mill News!!


RMN is an RA production.

The only pay your RMN moderators receive
comes from ads.
If you're using an ad blocker, please consider putting RMN in
your ad blocker's whitelist.


Serving Truth and Freedom
Worldwide since 1996
 
Politically Incorrect News
Stranger than Fiction
Usually True!


Powered
by FundRazr
Click Widget
or Click Here to contribute.


Organic Sulfur 4 Health

^


AGENTS WEBPAGES

Provided free to RMN Agents

Organic Sulfur 4 Health

^


AGENTS WEBPAGES

Provided free to RMN Agents



[ DONATE TO RMN ] [ Return to Main Page ] [ Read Prev Article ] [ Read Next Article ] [ CGI Media News Room ] [ SUBSCRIBE TO RMN ]

The Rumor Mill News Reading Room is maintained by Forum Admin with WebBBS 5.12.