Proof A Massive Economic Meltdown Is Already Happening Now

[schwartzie]

15 Facts Which Prove That A Massive Economic Meltdown Is Already Happening Right Now

by Liza Carlisle

December 27, 2022

OPINION: This article contains commentary which may reflect the author’s opinion





As prices double at the grocery store, and Americans are feeling financial pain during the holidays when spending is usually on the rise, the country is wondering when the economy will start an upswing. Optimism aside, there are some dire predictors of the present and future for those who are watching.



Sliding in right before the holidays, when citizens are focused on holiday matters, Congress has passed a 1.7 trillion dollar omnibus spending bill, creating more inflation by borrowing and spending money at a rate that is absolutely unprecedented in our entire history.



The bill is 4,155 pages long, and no congressman has admitted to actually reading the whole thing, but U.S. Senator Rand Paul just held a press briefing during which he wheeled it out on a trolley…



After the grossly bloated $1.7 trillion Omnibus spending bill advanced in the Senate by a vote of 70-25, GOP Senator Rand Paul held a press briefing during which he wheeled in the “abomination” on a trolley and demanded to know how anyone would be able to read it before the end of the week.



Paul, along with the only other dissenting Senate Republicans Mike Braun, Ron Johnson, Mike Lee, and Rick Scott highlighted how ludicrous the fast tracking of the bill has been.



Zero Hedge reports via Snyder of The Economic Collapse blog:



The following are 15 facts that prove that a massive economic meltdown is already happening right now…



#1 Existing home sales have now fallen for 10 consecutive months.



#2 Existing home sales are down 35.4 percent over the last 12 months. That is the largest year over year decline in existing home sales since the collapse of Lehman Brothers.



#3 Homebuilder sentiment has now dropped for 12 consecutive months.



#4 Home construction costs have risen more than 30 percent since the beginning of 2022.



#5 The number of single-family housing unit permits has fallen for nine months in a row.



#6 The Empire State Manufacturing Index has plunged “to a reading of negative 11.2 in December”. That figure was way, way below expectations.



#7 In November, we witnessed the largest decline in retail sales that we have seen all year long.



#8 Even the biggest names on Wall Street are starting to let workers go. In fact, it is being reported that Goldman Sachs will soon lay off approximately 4,000 employees.



#9 The Federal Reserve is admitting that the number of actual jobs in the United States has been overstated by over a million.



#10 U.S. job cuts were 417 percent higher in November than they were during the same month a year ago.



#11 A recent Wall Street Journal survey found that approximately two-thirds of all Americans expect the economy to get even worse next year.



#12 A newly released Bloomberg survey has discovered that 70 percent of U.S. economists believe that a recession is coming in 2023.



#13 Inflation continues to spiral wildly out of control. At this point, a head of lettuce now costs 11 dollars at one grocery store in California



#14 Overall, vegetable prices#14 Overall, vegetable prices in the United States are more than 80 percent higher than they were at this same time last year.



#15 Thanks to the rapidly rising cost of living, 63 percent of the U.S. population is now living paycheck to paycheck.



In a desperate attempt to get inflation under control, the Federal Reserve has been dramatically increasing interest rates. Those interest rate hikes are what has caused the housing market to crash, but Fed officials insist that such short-term pain is necessary in order to tame inflation.



The following examples that were pulled out of the 1.7 trillion dollar omnibus spending bill were discovered by the Heritage Foundation, Zero Hedge notes:



$1.2 million for “LGBTQIA+ Pride Centers”



$1.2 million for “services for DACA recipients” (aka helping illegal aliens with taxpayer funds) at San Diego Community College.



$477k for the Equity Institute in RI to indoctrinate teachers with “antiracism virtual labs.”



$1 million for Zora’s House in Ohio, a “coworking and community space” for “women and gender-expansive people of color.”



$3 million for the American LGBTQ+ Museum in New York City.



$3.6 million for a Michelle Obama Trail in Georgia.



$750k for the “LGBT and Gender Non-Conforming housing” in Albany, New York.



$856k for the “LGBT Center” in New York.



And have you noticed that our politicians often prefer to push these types of bills through just before major holidays when hardly anyone is paying attention?



The financial situation of the United States has not been this dire in over a decade. When economic conditions get even worse than they were in 2008 and 2009, the majority of the U.S. population will become extremely angry. But, are folks not paying attention? As the government uses short-term “solutions” to the crisis, and spends more and more money, gross amounts of which are sent overseas, where will it end? Everyone who is paying attention knows this is not sustainable, and the only solution is to elect those who will stop the spending and take measures to save America.

link