The system is breaking apart as we speak.
Retail has taken a brutal pounding over the last several years, and an epidemic of closing stores continues. Jobs have never picked up, despite the optimism. The flaws of the larger economy are compounding, and what has already been for several years a “recession” may soon crumble into an outright great “depression.”
As the X22 Report discusses, the stress points are all there, and absolute destruction is looming over the United States, and the global economy in general. The music has already stopped in terms of Federal Reserve stimulus money; as interest rates soar, the debt implosion becomes little more than a matter of time.
No man knows the day, but it is clear enough that something big is happening.
Beware of the bubbles popping… and the rest of the fallout.
“The situation right now is a disaster, and people are going to be really hurt by it. Now, Trump gave his speech to Congress and he said some very interesting things in the speech. And this gives us some type of indicator on how well the economy is doing. The first one he said was 94 million Americans are out of the labor force… 43 million are living in poverty. 43 million Americans are on food stamps. More than 1 in 5 people in their prime working years are not working. We have the worst financial recovery in 65 years – actually, it’s not really a recovery; it’s a manipulation; it’s an illusion to make you think we’ve recovered.”
“In the last eight years, the past administration has put on more debt than nearly all other U.S. presidents combined. We lost more than 1/4 of our manufacturing jobs since NAFTA was approved. We lost 60,000 factories since China joined the WTO in 2001. Our trade deficit with the world last year was nearly $800 billion; and Obamacare premiums nationwide have increased by double digits. We spend trillions and trillions of dollars over seas, and we didn’t do anything here in the United States for the infrastructure, and that’s why things are falling apart.”
“He’s letting the country know that the economy is a disaster, that the economy is collapsing… a complete disaster.”
As many experts have pointed out, President Trump cannot avoid the debt crisis. For starters, the U.S. government debt ceiling deal expires at the end of March – more debt must be approved, or budgets altered.
But beyond that, there is a palpable sense that another big event is coming… with a lot of talk about the second half of 2017. Has a date been set?