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Do you believe that the economic collapse is coming? If so, you certainly have a lot of company. It turns out that more than two-thirds of all U.S. households “are preparing for a possible economic downturn” right now. There is a growing national consensus that that U.S. economy is heading for big trouble, and this is causing a lot of people to cut back on spending. In fact, we just witnessed the first drop in retail sales in seven months. If this slowdown in retail spending extends into the holiday season, that could potentially be absolutely disastrous for the entire retail industry. We are already in the midst of the worst “retail apocalypse” in U.S. history, and we are learning of more store closings with each passing day. But of course it isn’t just the retail industry that is in very serious trouble, and I have some brand new numbers from a couple of other sectors that I will share with you below.
Considering what I do, it makes perfect sense to me that more than two-thirds of the country would be preparing for the next Great Depression and stock market crash.
In any event, the truth is that 100 percent of Americans should be preparing for the coming economic collapse, because the warning signs are all around us.
– U.S. retail sales fell for the first time in seven months in September, raising fears that a slowdown in the American manufacturing sector could be starting to bleed into the consumer side of the economy. For many other retailers, this holiday season will be a “make or break moment”, and we should probably expect another huge wave of store closing announcements early in 2020.
– And as I noted above, it isn’t just the retail industry that is really struggling. We are already in a “transportation recession”, and we just learned that the Cass Freight Index has now declined for ten months in a row.
– Another sector that is facing very tough times is the auto industry, and according to Reuters over 7 million Americans are seriously delinquent on their auto loans
– Today, the gap between the wealthy and the poor in the United States is larger than ever, and many wealthy Americans don’t have too much sympathy for the struggles that other people are going through. But the truth is that most Americans are currently living paycheck to paycheck.
– Unfortunately, there are millions upon millions of Americans for which hunger is a very real problem. If you had to guess, what would you say if someone asked you how many Americans struggle with food insecurity each year? “roughly 4o million people” struggle with not having enough food to eat.
If that sounds really bad to you, that is because it is really bad. And what we have witnessed so far is just the beginning of a major economic collapse and market crash. This truly is the beginning of the end for the U.S. economy, and most Americans can now see that very tough times are ahead. But what most Americans don’t understand is that what we will be facing won’t be anything like 2008.
Instead, it will be much, much worse.
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