It’s been a bumpy couple of years for the US economy. In 2020 we had the pandemic and all the government’s panic measures to slow it down, which saw the first fall in per capita GDP since the global financial crisis in 2008.
That eventually ended, despite some states trying to keep businesses closed and us stuck in our homes for as long as possible, but the pandemic dealt a massive blow to our economy.
It wasn’t much of a surprise that, as life started to return to normal, inflation started to rise fast. Then, on top of that, gas prices shot up too, reaching an all-time record in summer 2022.
There have definitely been times when it looked like the US was wobbling on the edge of an economic abyss, and a collapse seemed like a real possibility.
Everything’s fine now, though, isn’t it? Inflation is half what it was a year ago. Gas prices are high, but nowhere near as high as they were last June. Can we all relax, stop stockpiling food and ammo, and turn the vegetable garden into a flowerbed?
Not so fast.
The economy has bounced a little, but there’s no guarantee it’s going to keep on improving. In fact there are some red flags that suggest we could be facing more economic problems, even worse than the ones we’ve been through since 2020.
Inflation Is Creeping Up Again
According to the government’s July report, year-on-year inflation was 3.2% in the twelve months to July 2023.
That’s higher than it’s been for most of the last 40 years, but a long way below its terrifying peak of 9.2% in June 2022.
Unfortunately there are signs it could be heading up again.
In fact even the official figures show a slight upward tick from June’s 3.0%, and the reality could be a lot worse.
Related: 9 Items To Stock Up On Before Hyperinflation Hits
Although grocery prices are rising more slowly than they were the cost of energy is still high, and that tends to force up the price of everything else.
The post-pandemic recovery is overheating, too; GDP grew by 5.6% in the third quarter of 2023, pumping more money into the economy. Over-fast growth almost always fuels inflation.
Former White House economist Kevin Hassett is pessimistic, and thinks another wave of inflation is on its way.
The Fed Fears Recession
If high growth risks bringing inflation back, low growth would be bad for a host of different reasons – and the Federal Reserve seems to think the present economic surge isn’t going to last.
While they admit last year’s predictions of a recession were wrong, they’re less optimistic about the longer term.
Recently they’ve downgraded their predictions for growth from an annual 2.5% to 1.8%. That seems strange, considering the economic boom in the third quarter, but that’s what they’re saying.
Ironically the thing most likely to cause a recession is the Fed’s own policies. In their drive to cut inflation they’ve pushed interest rates to their highest level in more than 20 years, leaving millions of Americans struggling to pay their mortgages.
Related: Money Saving Tips From Real Survivors of the Great Depression
If there’s a sharp rise in repossessions people aren’t going to be happy, and with the country as angry and divided as it is now that could give our social stability a hard knock.
Debt Is Out Of Control
Kevin Hassett thinks the current administration is borrowing and spending crazy amounts of money. Many other economists agree.
The federal government is rapidly building up an already huge pile of debt.
At some point, all the money the IRS collects in taxes will be needed just to cover the interest on that debt; at this point, the idea of ever paying off the debt itself is a sick joke.
Republican lawmakers are trying to slow down the administration’s wild spending, which is why the threat of another government shutdown is looming.
Up to now these have always been ended by a compromise that lets the government borrow some extra money, but GOP patience is running out and House Speaker Kevin McCarthy is losing control over his own party.
There’s a real risk that the federal government might not be able to pay its employees. That’s going to leave millions of very unhappy people – many of them armed.
We Could End Up At War
The war in Ukraine shows no sign of ending anytime soon.
And the US is slowly being dragged deeper into it.
Ukraine, understandably, wants advanced western weapons to beat back the Russian invaders.
Whether or not helping Ukraine is the right thing to do – and it’s hard to argue the country doesn’t have a right to defend itself – there’s always a risk that if Russia starts losing badly enough they’ll lash out at anyone they blame for their problems.
And if Russian forces are being pushed back by US-made tanks and aircraft it’s not too hard to work out who they’ll blame.
It would make no sense for Vladimir Putin to attack the US, because he has no chance of winning, but Putin does a lot of things that make no sense. It’s very possible he could react in a rage, and trigger a major – maybe nuclear – war.
Things Can Get A Whole Lot Worse
For now, things seem better – a little, anyway – than they were a couple of years ago. This would be a bad time to let your guard down, though. If you know what to look for there are some warning signs it would be very dangerous to ignore.
Our economy is finely balanced, and could crash into a recession at any moment. The government is gambling dangerously with the national debt, and risking a complete collapse of the country.
Being prepared for the worst has never been more important, because it could be just over the horizon.
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Here’s something to think about, had a dream, walked into a drugstore to buy some eye drops. The counter sales lady said we have this product that will be $$ a couple bucks, then I said what about this, do I need it , yes you do she said. That will be $$ more money in cash, this went on for a couple more times. Then I said I don’t have anymore cash to spend. She looked at me said oh well.
The lady suggested I can do the digital card, you might not be able to get this product as there are restrictions, unless you pay in cash.
What is funny from the dream, to what the digital dollar on the horizon means is cash is king, under the table purchase. Digital will be monitoring are every purchase of what the regulators think we shall receive.
We are being plastered with gold and silver companies saying we should keep some precious metals for safe backup of our finances. But at what point is it enough?
Eventually we will run out of stored gold and silver and will become dependent on the digital dollar monitoring system which is also a fiat money system run by government.
Bartering system only goes so far in trades of smaller purchases. Our paychecks and retirement accounts are tied into the present banking system semi regulated. The banks have not completely taking control of our bank accounts yet, to turn off or restrict our purchases yet. We saw what a Canadian prime Minister tyrant did during the trucker’s strike. The Canadian government forced banks to close down the truckers money so they could not access funds for fuel, food and shelter during the strike.
These patriots were also put on government databases. Similar to the USA government’s NO FLY List with TSA gatekeepers.
So the dream had some ominous messages of the future. We blame partly ourselves for electing these sycophants of bureaucracy to a broken government. If we were secure in our country we would not be feeling or thinking of the potential for a Swan Event to happen, the proverbial SHTF stuff.
One presidency ago we had secure a Southern Border, building a wall to protect us from Mexican drug cartels pushing illegals and fentanyl out of control from the Biden administration.
We had oil and gas self sufficiency exporting to the world, the economy was buzzing with wealth to Americans.
Now Bidenomics has turned America into a third world Sh*t hole. Opportunities for the globe to run in for free stuff at American taxpayer’s standard of living dropping fast.
What are we willing to do?
American taxpayers should tell their representatives for America to file for Chapter 11 Bankruptcy. Put the American dollar back on the gold standard. Drill for oil on American soil and build the Southern Border Wall.
Take back our country, Borders, Language and Culture.
Liberals have gummed up the works, now we must Mr. Clean our nation put us back on track. Stop the liberal indoctrination of our young future leaders in society, business and politics, soon or go bust forever.
The folks coming over the border are not the problem; they have paid more taxes than whitey ever did, and they do the jobs you feel is beneath you, not to mention they have a better work ethic. Your orange oompa-loompa added more to the national debt than anyone in over 225 years.
Take back our language? This country was founded on many different languages. If you want one language that just shows that Americans are too dumb and too lazy to learn a second or third language. And what’s that “Culture” your speaking of?
Save your change. Metals are always worth something…
What are you doing to be free?
Isn’t it very funny how Americans are suckers to help the sick, the poor with donations of finances, food, clothing and shelter in many countries.
American soil houses the United Nations building full of scum buckets who hate Israel and America. Why are they still here?
Why is Biden administration have open border policy taking in illegals and terrorist into America?
Do you know we American taxpayers are dumb jerks not confronting our elected corrupt politicians asking why not fix America first?
Besides China wanting world dominance, why are Americans played to be the patsy?
Unless you are completely on drugs, there are many very wealthy elite in those poor economic 3rd world countries. There are NATO countries that barely fund their portion of their commitment to NATO. American government funds the majority of the expenses.
Ukraine is not a NATO member, yet corrupt Biden funds his made up Ukrainian War. We send over high tech weapons that no knows where the equipment really goes. Where our tax money goes to and who is profiting from the war.
The Middle East and Africa have very wealthy families and corporations who can fund, feed, cloth, and shelter, their own people, their populations. We got a religious Christian groups that help through donations from unwilling citizens who are subterfuge into shaming us of our conciseness help the poor. Why don’t the church groups ask for those foreign elite to spend their wealth on their own poor?
Why are Americans asked to support the whole globe with their problems, while neglecting our own self worth of our nation first. Something is indefinably wrong in our indoctrinated mindset.
South America, Central America, Mexico have very powerful wealthy individuals, families and government slush funds that can alleviate their problems. Instead of sending their tired, poor, mentally disturbed and criminals to America as our babysitting duties to the world.
Caring for people only goes so far until our country goes to hell in a hand basket as bankruptcy looms near. Time to demand the world start taking responsibility for their problems. We are not the world police, China wants to be the dominatrix of earth.
The American government is out of control on spending and taxing, the entity no longer represents our American citizens the way the Founding Fathers intended the American government to be.
We now live in one of the more corrupt countries in the world. Keep in mind however, WE allowed it to get this far and WE are allowing it to continue.
Bitchi g and posting just will not change a thing.
Why don’t the so called Christians you speak of ask their leaders to cough up their cash to help pay for whatever. Start with Joel Osteen who lives in opulence while most of the suckers who fund his lavish lifestyle struggle with their own finances. Tax the churches. Religion is the biggest scam going.
Your characterization of religion is excessively broad brush. It’s like saying all people with the name “Sue” are atheists.
TELEVANGELISM is a scam; not Christianity. and yes, the Osteen fleecing operation is proof that most people (not just Christians) are intellectually lazy and gullible fools. And the rich get richer because they don’t pay taxes, they have tax sheisters on retainer to exploit the tax loopholes.
“There’s a sucker born every minute.” — P.T. Barnum
“A fool and his money soon part.” — Benjamin Franklin
BIDEN IS THE ONE WHO IS SPENDING OUR TAX DOLLARS ?. TO DIFFERENT COUNTRIES AND RUINING OUR COUNTRY!!
THE USA ??
AND IT IS SO SAD ? FOR US THE AMERICAN ?? PEOPLE TO BE DOING WITHOUT ????
Globalist, what side are they on? Certainly not for America first as the 1,000 cuts of taxes bleeds America to death. Were American taxpayers given the opportunity to say no to all of the Washington DC agencies spending? Hell no!
Obvious America is last in everything in their view of the world. We are last in education that the Chinese excel at. While our kids are stuck on stupid kid tricks on tik tok. The same tik tok in China has educational videos, our kids get propaganda videos.
The State and Federal governments no longer represent us American taxpayers. With the exception of the free States like Florida as example.
California decades ago was a semi-free State until the slime balls of liberalism took over. The real people who are conservative are seniors and low income who can’t afford to move to a free State.
The liberals are the ones rich enough to move to other States. These are the ones who go to beach head communities, small towns and change the politics to wacky liberalism.
It is a shame these wacky fruit and nuts people have ruined California and other States.
Back in the day drunking sailors, circus type people had tattoos, nose rings lived in the closet in the back alleys. Now the liberal mindset has gone main stream.
In the food industry don’t care to see a tattoo, nose ring person cooking my food to eat. You wonder what their sanitation habits are like. Are these people healthy with the body piercings? That some body fluids might leak out onto the food being cooked as an example.
It maybe too late to save America as we knew it was decades ago.
Our nation has a possibly terminal disease process going on. Communism and socialism hurt a nation far more than helping. I get it. free stuff is nice and feels good. But nothing is really free. Everything cost someone something. It is really quite simple. If you are getting something free them someone else is paying for it. If you are the one paying for things someone else is taking the handout. Taxes would not be such a burden if everyone were paying something. Having been most often on the poor end of the money Paying in even a little hurts but taking handouts so I can live like I were rich would be ridiculous. I garden, can and sun dry food and medicianals, I sew and remake used clothing, and do my best to be self sufficient. Handouts should be for the folks who can’t work… not those who won’t work. if you hit a really hard time then get short time help but not forever. Why do we bring in illegals and give them more that our avarage citizen can earn? Why did Biden leave people and armaments behind in Afghanistan? When did our Vets become disposables? I paid into Social Security for most of 50 years but it isn’t a survivable support system today. May who get social security income alone need to find others and share the expenses to survive. Some do draw enough to live ok. If the average is about $1400 per month that means some make more and many have less. My state taxes Social Security yet is near to being the poorest state in the Union. This year wasn’t a good year for gardens. Many of us needed our Community Pantries to get throught this year. I have a well stocked pantry so haven’t needed so much help but I did take fresh produce when it was abundantly available.
I’m shocked and disappointed with the degradation of this great nation. The government lies with impunity. People don’t seek out truth anymore. GIMMEE seems to be the favorite word of the day. Give to other nations by the Billions of dollars. Support Terrorist! Why????? Insanity reigns. Building up our people is impossible with the left overs. Yet we are supposed to absorb Thousands of illegal immigrants who expect a better life than many here have. Yet we see the worst leaders reelected again and again. IT is insanity.
“Globalist” = International Jew. They fleece and destroy a nation, then move on to the next host. Their tactics cause every single one of your points of contention.
The shame is that the author uses dated information. inflation figures from July? Latest data from September was releasted in mid October. Russia and Ukraine are old news, and no mention on how the Gaza attacks would play into the global threat to the US, let alone our problems with China. The most egregious assumption is that grocery prices are the cause, but are simply the effect of rising costs in their supply and production chain. $2 for a 4 oz can of mushrooms? same can a year ago was 87 cents.
Every cotton picking idiot employee wants to be part of the cancer – UNIONISM. People are not educated in basic economics.
Unions are are the 180 flip side of what these started out to help the blue collar working stiff of the 20th century.
In the 21st century unions are a curse on the average American. The high costs are past on from corporations to the consumer, so they do not care.
Shame on those liberal Demoncrats who belong to the teacher’s union, the healthcare unions and private government unions all demanding higher wages. Which is a big circle of madness. Protest for higher wages produces higher costs in the products made. Food costs more for transportation because of union strikes. Gas cost more because Bimbo Bidenomics no American oil well drilling, go figure.
Yep, forgot to mention the obvious: McCarthy was outed a month ago.
McCarthy, Romney, third party types are not the ones we want to lead us. RFK jr. has some qualities but like any third party wannabes there is the danger of splitting the votes. Biden could end up winning, unfortunately with dumbo voters.
Third party in the past Ross Perot, upset the balance of power. That could happen again in 2024. Most voters want TRUMP to win an reset the decline from Bidenomics ruins America forever.
Ain’t it funny the sh*t hole San Fransicko is the meeting place for Biden and Xi to discuss world dominance. Biden’s case what else can he sellout America for, more farmlands? The local mayor and liberals are clearing out temporary the homeless to other parts of the city.
The drugged out homeless will be back to their old haunts the next few days.
Nothing will change in California a land golden showers, sh*t filled sidewalks as long as liberals can hide behind their armed guard gated communities.
I do like Ross Perot, he is best remembered for his two campaigns for U.S. president. However, he was also one of the most successful U.S. businessmen of the latter half of the 20th century. He also drew much-needed attention to the plight of prisoners of war and veterans from the Vietnam and Gulf Wars.
Republican Party nominee John McCain and endorsed Mitt Romney both typical RINO’s. Conservatives need to not look at the two parties as the be all, end all of politics. We got too many Rino’s and Dino’s wolf in sheep’s clothing scamming us Americans everyday for votes.
RFK jr, Really? NO THANKS….
How many American POW’s were released from both European world wars, The Forgotten War Korea, Viet Nam and the Sand Box Wars?
Did we get all of our POW’s back?
The Viet Nam War was a political mess, the POW’s were pawns in the politics of war.
The Sand Box Wars, most notable is the incompetent Biden Afghan Withdrawal, leaving Americans and Afghans whom served to fight the terrorist.
Leaving behind countless high tech military equipment now used in Gaza by terrorist fighting Israel.
Not to forget the 13 US military personnel and Afghans dying for a stupid Biden Withdrawal no plan. The working security dogs left behind to nasty dog haters who tortured the dogs. Shame on Washington DC Scum for failure.
America still has Americans left behind in terrorist land, while officials live comfortable gated community life. Oh yeah Hillary’s debacle of the Benghazi Scandal. She became bitter at TRUMP in that presidential election causing hoax political assassination of her competitive revival. She caused a Russian Hoax and smashed phones, had an unsecured server at home with classified material.
How many of the Clinton’s friends died from mysterious deaths? Who is next?
If you haven’t figured it out yet, we already are in a war with Russia. The only difference is that it is only our used equipment that is being spent. It isn’t our servicemen & women whose lives are being lost. Putin pointed out that Russia owned the land down to Fort Ross which is on the Coast about halfway between San Francisco and the Oregon border. He says he is going to take back “Russia’s land.” Ukraine is an investment of not money but sales to them of for the most part our outdated equipment that we are mothballing anyway. Replacing those items makes something called JOBS in the USA. Either we are smart enough to stop Russia in Ukraine now, or when Trump’s buddy Putin goes after us or one of the NATO countries we are pledged to protect [as they have pledged to protect us] and we have a real war and real American Servicemen dying. The question is are we smart enough to figure this out or are we brainwashed and being led down the path to our destruction? Perhaps Republican politicians should get their heads out of their proverbial a** and see what the real truth is.
Gary day, thanks for your puff piece. Most people today are brain dead liberals ready to vote for Newsom and Michelle hoping for a different outcome.
Yes, we are in a proxy war with Russia right now of USA/NATO’s doing. The USA/NATO backed a coup in 2014 in Ukraine called the Euro Maiden Revolution where a democratically-elected Ukrainian President, Viktor Yanukovych, was over thrown which pissed off the Ukrainians in the Donbas which seceded from Ukraine as a result of this coup. The USA/NATO backed and helped start the coup because Viktor Yanukovych turned down a 30 billion USD “bailout” because of the austerity strings attached to the bailout which would hurt the average Ukrainian citizen that was already financially hurting. Yanukovych instead accepted a $15 billion USD bailout from Putin which didn’t have the BS strings attached to the $15B bailout. Then Ukrainian military started and continued to shell the Donbas region and the civil war was on with 81% of casualties being Donbas citizens. Putin tried twice to negotiate peace in Minsk, Belarus with the Minsk 1 and Minsk 2 treaties which both were quickly violated by Ukraine and former German Chancellor Angela Merkel has stated that Minsk 1 and Minsk 2 treaties were nothing more than a ruse to buy time for Ukraine to build up their military forces/armaments. In the early 90’s then Secretary of State James Baker told Mikhail Gorbachev “Not one inch eastward.” which Baker wasn’t lying since NATO went 14 former Soviet countries eastward which Putin is very aware of this. Putin tried to join NATO twice, once in 2002 and again in 2007 and was denied both times by the USA–extremely stupid foreign policy on part of USA/NATO politicians; but GREAT for the Military Industrial Complex that Eisenhower warned the USA about on his exit from the Oval Office in ’61. There is no way in Hell that Putin will allow Ukraine to become a NATO country and thus far Russia is winning the war in Ukraine. Just look at who is one who’s land. The recent Ukrainian counter offensive has been a dismal failure resulting in over 125,000 newly-dug Ukrainian graves. The dumbass UK offered to send depleted uranium (DU) ammunition to Ukraine causing Putin to place tactical nukes in Belarus. The USA used DU in the war with Iraq which poisoned the land in Iraq with radioactivity which has caused elevated cases of cancer casualties and birth defects which Putin knows. The USA/NATO WILL NOT EVER defeat Russia. What REALLY needs to happen is a REAL negotiated peace treaty that is strictly followed and obeyed on ALL sides. Otherwise, an unthinkable extinction-level nuclear exchange will kill EVERY living thing on the planet.
COVID is a PLANNEDemic. COVID DIDNOT shut down economies. Governments and big money shut down economies. Big corporations made trillions while “Little guy” suffered and many lost their small businesses. The International Monetary Fund (IMF) offered Belarusian President, Alexander Lukashenko $940,000,000 USD in “COVID Relief” with “strings” attached which Lukashenko refused. Those “strings” (IMF and World Bank demands) requirements included 1) force people to wear masks, 2) impose strict curfews, 3) Impose a “Police State”, 4) Impose a strict lockdown on his people, and 5) Crash the Belarusian Economy. Lukashenko refused the money and refused to implement these demands by the IMF and World Bank. Belarusian President Claims IMF & World Bank Offered him a Bribe to Impose COVID Restrictions
Economically, what everyone has been experiencing is “STAGFLATION”–massive inflation of goods, merchandise, and contracted services while wages, Social Security, Pensions, etc. have been and remain stagnate with no increase to small increases.
The Federal Reserve doesn’t fear recession because The Fed is CAUSING recession by raising interest rates and keeping interest rates elevated. When the Fed REALLY fears recession, The Fed cuts interest rates. Even the biggest banks, Morgan Stanley, Bank of America, Wells Fargo, and others are now in deep trouble and have extensive losses just like Silicon Valley Bank (SVB) and First Republic Bank had since all those banks bought Treasury bonds at very low interest rates which is supposedly a very safe investment–NOT. When interest rates were increased, low interest T-bills lose value which is what happened to SVB and First Republic. The UK bank HSBC bought ALL of SVB’s branches in the UK for a whopping one British pound–less than $2. The World Economic Forum (WEF) has repeatedly stated that by 2030 “You’ll own NOTHING and be (un)happy.” Governments/Central Banks around the world is spending (and printing) currency with reckless abandonment which devalues existing currency so everything costs more (except labor). When a loaf of bread costs $10,000, you’ll have to sell everything you own just to eat. Can’t eat gold or silver. Hyperinflation and global depression is just around the corner–all part of financially-elite/WEF’s “Global Reset” master plan.
The problem lies not in the Congress and the Presidency it lies in the Woke people in control of all the government agencies that are fostering these socialistic programs on us. All the government programs that drive up cost come from them not congress. Congress get’s the budget requests for all these programs from these government agencies who are trying to build a bigger “empire” in each dept seeing who can spend the most. Then the special interest groups jump on board to champion their part of that budget they see they can provide and off we go with rampent spending again. The agencies are so ingrained in society today and are masters at playing the budget game that there is virtually no way to cut costs. They constantly want more and bigger budgets to provide the programs that make the customer (you and I) happy so they can get a bigger budget next year and their empire can keep growing. As has been said many times by agency directors, “Congress and Presidents come and go, but we are always here.” They don’t care about anything but building a bigger empire. The issue with Biden was he is so out of it he doesn’t have a clue what his people under him are requesting in a budget. Congress is so broke and partisian it isn’t functioning and here we are. The founders of this great country warned of exactly this very thing happening. There is no “for the good of the country” anymore, it’s all about how to line your pocketbooks and get re elected. We need term limits, but they will never pass it. I am of the conclusion that this train is going to hit a wall head on and the engineer is asleep at the wheel. No one running for office, Congress, Senate or Presidency can stop it. If we aren’t prepared to survive when it happens then it’s your own fault. It’s going to happen, Just like Argentina, the US will become a 3rd world country. The only question is when not if it will happen. I am old enough my time is getting closer by the day, I feel sorry for my kids and grandkids. What a mess we have created in this country. I am trying to homestead but with little money for supplies etc, not much I can do.
“.. leaving millions of Americans struggling to pay their mortgages“ Oh, FFS, anyone who took an adjustable rate mortgage when rates were historically low pretty much deserves whatever happens. If folks didn’t learn after the bubble burst, they are willfully ignorant.