This article was originally published by Michael Snyder at The Economic Collapse Blog.
The Biden administration and the corporate media insist that we are witnessing an “economic recovery”, but it sure doesn’t feel like any sort of a “recovery” for America’s working poor. Tens of millions of working Americans are trying to survive from month to month on stagnant or declining wages at a time when Biden’s economic policies have caused the cost of living to soar.
Our leaders in Washington always seem to think that spending more money is the solution to almost every crisis, and in recent months we have seen the money supply grow at an unprecedented rate. Those that have been showered with government money are grateful, but all of this new money is also going to make life much tougher for those on the very bottom of the economic food chain.
Just because someone “has a job” does not mean that an individual is doing okay in this economy. Greyhound bus driver Marvia Robinson has never had to file for unemployment benefits during the COVID pandemic, but her wages declined substantially, and she got way behind on her rent…
Last year, as the COVID-19 pandemic brought the nation’s travel economy to a standstill, Robinson’s hours were. cut, her pay dwindled – to as little as $65 for one two-week period – and she fell behind on her rent. By January, she owed $4,920.38. So she emailed Invitation Homes to ask if it would accept funds from a county program that gives landlords $4,000 in back rent.
In an email response reviewed by Reuters, Invitation Homes told Robinson the company was not participating in the program “due to the landlord restrictions,” without explaining what that meant. The company then sent Robinson an email with links to information about other government and nonprofit relief programs, as well as payday lenders, food banks, the Coalition for the Homeless and ways to make money by selling hair, plasma and donor eggs.
Various eviction moratoriums are protecting multitudes of people that are way behind on their rent, but they didn’t help in Marvia’s case, and she was tossed out on the street on March 9th…
In February, an Orange County judge approved Robinson’s eviction. On March 9, two sheriff’s deputies showed up at Robinson’s taupe two-story rental south of the city, bolted the doors and changed the locks.
So what is Marvia supposed to do now?
She works extremely hard, but it still wasn’t enough to keep her from being tossed out into the cold.
Overall, Moody’s Analytics is projecting that 7 million Americans will owe a total of $40 billion in back rent by the end of May.
Like Marvia, many of those people actually have jobs.
When I asked Google how many Americans are classified as “working poor”, it gave me a number from 2018…
About 38.1 million people, or 11.8 percent of the nation’s population, lived below the official poverty level in 2018, according to the U.S. Census Bureau.
Needless to say, that number is almost certainly far higher by now thanks to the economic depression that we have experienced over the past year.
And guess which state now has the highest level of “functional poverty”?…
As the California Legislature churned toward adjournment last week, its members received another reminder that the state’s most vexing — and shameful — socioeconomic malady persists.
The Census Bureau reported that California still has the highest level of functional poverty of any state, averaging 18.2% of its 40 million residents impoverished during the three preceding years.
The state that has the most tech billionaires also has the most people living in poverty right now.
Isn’t that ironic?
In their desperation to jumpstart the economy, our leaders in Washington have been creating, borrow and spending money like this is no tomorrow.
Just look at what this has done to our money supply. The following chart which comes directly from the Federal Reserve shows the stunning growth of M2 since the beginning of the pandemic…
Of course, this was going to drive the cost of living higher, and food prices are one thing that I am watching very, very carefully.
Just a few days ago, Bloomberg published an article entitled “The Grocery Price Shock Is Coming to a Store Near You”…
Corn, wheat, soybeans, vegetable oils: A small handful of commodities form the backbone of much of the world’s diet and they’re dramatically more expensive, flashing alarm signals for global shopping budgets.
This week, the Bloomberg Agriculture Spot Index — which tracks key farm products — surged the most in almost nine years, driven by a rally in crop futures. With global food prices already at the highest since mid-2014, this latest jump is being closely watched because staple crops are a ubiquitous influence on grocery shelves — from bread and pizza dough to meat and even soda.
Food prices have been aggressively rising for 10 months in a row, and there are several factors that are leading analysts to project that they will continue to rise in the months ahead…
The most recent crop spikes follow months of price gains fueled by booming import demand from China. Corn prices have doubled in the past year, while soybeans are up about 80% and wheat 30%. With China’s purchases continuing and a spate of adverse weather conditions threatening crops in Brazil and the U.S., there are few signs of respite.
As food prices move higher and higher, this will put additional stress on tens of millions of “working poor” Americans that are barely scraping by from month to month.
The good news is that nobody in the U.S. is starving at this point, but the same can’t be said about the rest of the world.
Global hunger is on the rise, and one expert is warning that things are starting to get really bad out there…
“The relentless rise in prices acts as a misery multiplier, driving millions deeper into hunger and desperation,” Chris Nikoi, the World Food Programme’s regional director for West Africa, said earlier this month. It’s “pushing a basic meal beyond the reach of millions of poor families who were already struggling to get by.”
As I detail in my most recent book, we are moving into a time when there will be horrific global famines.
We all know this is coming, and so we should be getting prepared ahead of time.
Of course there are tens of millions of Americans that can’t afford to get prepared because they don’t have any extra money at all each month.
With each passing day, more Americans are falling out of the middle class and into poverty, and everything that our leaders in Washington do seems to make things even worse.
***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com. In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe. I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream, and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial, or health decisions. I encourage you to follow me on social media on Facebook, Twitter, and Parler, and anyway that you can share these articles with others is a great help. During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.
Yeah, but don’t forget he gave them $1400 dollars of non-existent money, causing inflation which hurts the poor and those on fixed incomes the most. He also was kind enough to end the pipeline and drilling and fracking on government lands increasing gasoline prices for the poor that need to get to work. Whatta guy!
Yet these are exactly the people that voted for Biden!
There is an antiquated version of suburbia and how (our great grandparents?) used to dress to go out, but I think that most average townspeople of that era found an outlet in porn, drugs, gambling, or whatever demoralizing vices, toward the beginning of the civil rights movement.
That social pressure valve was relaxed, 60ish or more yrs ago.
Because, WASP’s with responsibilities such as family, schooling, business, church, and reputation would have done what BML is doing, now, to white slavers.
Pardon me for having my mind below ground ( In the gutter so to speak ), but I have yet to see any improvement in the economic situation if any and then only for the ones in power. I’ve been retired for 11 yrs and have been making do and if I’m careful, I’ll have few dollars left over at the end of the month, but after reading how the rich and powerful are still even more money hunger, well I guess they ‘ll have to physically take it out of my hide ( what little I have left )
All the worry etc is not required.
The reason is that everything will turn to Sh-t soon – and I mean world wide. We are teetering on the brink of total economic collapse.
The only question is how the elite will make it happen.
Pick one or more:
– Middle east war
– Ukraine war
– New Covid-19 mutant(s) – that are more contagious and lethal.
– Mass Lockdowns
– Food, gas inflation spikes
– Mass shortages of Police – major upturn in civil disobedience
– Bank closures – can’t get your $$
– Martial Law – Fema camps
This is part of the plan to destroy the Middle Class to destroy the US. Notice none of the trillions of dollars supposed to help people suffering, have gone to the ones who lost businesses, jobs, life savings and their homes. The things they are losing are going to the wealthy so that there will only be a wealthy class and a poverty stricken class. It will be a small step to instituting Communism.