If you believe the corporate media, the U.S. economy is doing definitely fantastic as we begin to roll through the 2nd half of 2023. Although inflation is out of control, the industrial realty market is in free fall, business bankruptcies are rising, and big organizations all over America are performing mass layoffs, we are being told that everything is simply peachy. For instance, the following comes from a current NPR article entitled “What economic crisis? It’s a summertime of splurging, profits and woman power”…
The numbers remain in and things look surprisingly rosy for the U.S. economy:
The Federal Reserve is still mindful, however big brand names– including Coca-Cola, Hilton and Visa– are singing applauds to consumers relatively undeterred by companies’ raising costs. What’s more, Taylor Swift, Beyoncé and Barbie are luring individuals to part with their money, bolstering regional organizations.
Yes, “woman power” is supposedly saving the U.S. economy.
Doesn’t that sound terrific?
Regrettably, it simply isn’t true. Here are 10 signs that the mainstream media is not informing you the truth about the economy …
# 1 When the economy is succeeding, there is a significant demand for trucking. But when the economy is tanking, trucking business often enter into severe trouble. So it is a very bad sign that “among the nation’s earliest and largest trucking companies” is literally on the verge of collapse …
Yellow, one of the nation’s oldest and biggest trucking services, is preparing to file for personal bankruptcy and might collapse within days, leaving some 30,000 employees without jobs.
The nearly 100-year-old business is understood for its competitive prices and has more than 12,000 trucks delivering freight throughout the US for brands including Walmart and House Depot.
According to the Wall Street Journal, the company is preparing to apply for bankruptcy and remains in the procedure of selling other parts of business.
# 2 You can include Anheuser-Busch to the quickly growing list of big business that are conducting mass layoffs…
Anheuser-Busch, the moms and dad business of Bud Light, revealed it will lay off 350 staff members, a lot of them in corporate positions, as it seeks to recover from the fallout over a project involving a trans influencer.
# 3 The variety of large corporate financial obligation defaults up until now this year has actually already surpassed the grand total for the whole year of 2022 …
The total amount of corporate debt defaults in the United States this year have actually already surpassed the quantity seen in 2022.
Specialists have actually been cautioning of a wave of defaults to strike the economy for a long time due to greater borrowing rates.
A minimum of fifty-five American-based companies defaulted on their loans in the first half of 2023, according to information from Moody’s Investors Providers.
That is a 53 percent increase from the overall number of defaults last year, when simply 36 companies said they would fail to repay their financial obligation commitments to lending institutions.
# 4 The cost of living continues to skyrocket. CNBC is reporting that vehicle repair work expenses have actually increased by almost 20 percent over the previous 12 months …
Automobile repair costs are up nearly 20% in the previous year, according to the customer price index– more than 6 times the nationwide inflation rate and among the biggest annual cost increases of any household great or service.
So, what’s driving up rates?
It’s a mix of elements, specialists stated. Some emerged in the pandemic era while others are longer-term trends in the car market, they said.
# 5 More than three-quarters of a million families in the state of California lag on their rent, and now it appears that a tsunami of mass evictions is coming…
More than 768,000 families are behind on lease in the Golden State, with financial obligations totaling more than $5 billion, putting roughly 721,000 kids at danger of expulsion, according to the National Equity Atlas– a collaborative data and analytics tool established by Oakland-based Policy Link and the University of Southern California Equity Research Institute.
Residents in the City of Los Angeles are dealing with a deadline of Aug. 1 to repay all rental financial obligation accumulated between March 2020 and September 2021, with that from October 2021 to January 31, 2023, due by February 2024.
# 6 Electric automobiles were expected to be the wave of the future, but Ford is going to lose 4.5 billion dollars on electric cars this year alone …
Ford Motor Company revealed it is predicted to lose a tremendous $4.5 billion from electrical vehicles (EVs) this year, up from the previous forecasted loss of $3 billion.
The company released its second-quarter financial outcomes on Thursday. The U.S.-based car manufacturer’s EV division, called “Ford Model e,” has actually lost $1.8 billion up until now this year, according to Fortune.
# 7 A yield curve inversion normally implies that an economic crisis is coming, and right now the yield curve is the most inverted that it has been in more than 40 years…
How huge is big when it pertains to the latest inversion? To determine the magnitude of the inversion, a time series of the space in between the yields on a long-term and a short-term is computed. The most common-used measure of this is the space in between the 10-year Treasury and the 3-month Treasury. If we graph this distinction in between the 10-year and the 3-month, we can see that we’re now experiencing the biggest inversion in more than 40 years
# 8 Much like we saw in 2008, house foreclosures are starting to surge…
House foreclosures have shot up for the second year in a row– as issues grow that owners are sitting on a ‘negative equity timebomb.’
Figures from information company ATTOM show that around 186,000 foreclosures have actually been submitted in the very first 6 months of the year. The pattern is being driven by an unpredictable housing market and skyrocketing home mortgage rates.
# 9 I have consistently warned my readers that we are in the early phases of the worst industrial property crisis in U.S. history, and now one professional is comparing it to a “Category 5 typhoon”…
Starwood Capital Group’s Barry Sternlicht just recently told Bloomberg’s David Rubenstein about the ongoing crisis in the commercial property sector, relating it to a severe “Classification 5 cyclone”. He cautioned, “It’s sort of a blackout hovering over the whole industry till we get some relief or some understanding of what the Fed’s going to do over the longer term.”
Currently, the most significant problem in the CRE area is sliding office and retail need in downtown locations. Couple that with high-interest rates, and there’s a disaster lurking for building owners.
# 10 According to Opposition, Gray & Christmas, the variety of announced job cuts in the United States during the very first half of this year was 244 percent higher than the number of announced job cuts during the first half of in 2015 …
Employers have announced 458,209 cuts up until now this year, a 244% increase from the 133,211 cuts announced through June 2022. It is the highest first-half overall since 2020, when 1,585,047 cuts were taped. With the exception of 2020, it is the highest January to June overall given that 2009, when 896,675 task cuts were announced.
Considering all of the facts that I simply showed you, how worldwide can anyone potentially declare that the U.S. economy is heading in the best instructions?
It just doesn’t make any sense.
Of course those that work for the mainstream media can write anything that they want.
But that does not indicate that we have to believe them.
We reside in a time of terrific deceptiveness, and it is only going to get worse.
If you believe that things are bad now, simply wait up until we get to this time next year.
With the governmental election looming, the mainstream media will be desperate to portray the Biden administration in an excellent light.
But no amount of spin can alter the truth.
The U.S. economy really is in big trouble, and extremely dark storm clouds are collecting on the horizon.
Michael’s brand-new book entitled “End Times” is now available in paperbackand for the Kindleon Amazon.com, and you can take a look at his new Substack newsletter right here.
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