You have heard me say it over and over again. What we are witnessing right now reminds me so much of 2008, and we all remember what happened in the fall of 2008. That doesn’t mean that this new crisis will unfold exactly the same way that the last one did. Ultimately, every economic downturn is unique. But the fact that we are seeing so many parallels between what is transpiring now and what transpired 14 years ago should deeply alarm all of us. We appear to be on the precipice of another economic crash, and all of the “solutions” that our leaders give us just seem to make things even worse.
Hopefully someone out there can find a way to pull a miracle out of a hat and a worst case scenario can be averted.
But I wouldn’t count on that happening. The following are 12 numbers that show that we are getting dangerously close to an economic crash as the fall of 2022 approaches…
#1 The government is telling us that the unemployment rate only went up to 3.7 percent in August.
#2 According to John Williams of shadowstats.com, if honest numbers were being used the real rate of unemployment in the United States would be over 24 percent.
#3 About half of all U.S. companies say that they will be eliminating jobs within the next 12 months.
#4 The government is telling us that the inflation rate in the United States is only 8.5 percent.
#5 According to John Williams of shadowstats.com, if the rate of inflation was still calculated the way that it was back in 1980, the real rate of inflation would be somewhere around 17 percent right now. That is worse than anything that we experienced during the Jimmy Carter era.
I’ve found Orlov often scary accurate.
The Case for a New American Civil War | The Vineyard of the Saker
I’d not make plans for retirement or social security if I were you. If that’s important to your finances, I suggest immediate action to learn something worth trading for when smoke is in the air.
Protect your families, they are the basis of civilization
Hi Michael it is scary as I have already been getting SSA for16 years and a state retirement pension I know that all can end overnight! Food and water to exist is the best I can do, then they will come for my property! So, thus it will be!
Splish my point was to have a skillset you can generate whatever “Coin of the Relm” as so you can keep the tax man away.
My family history research was mostly about Weimar Germany and the Great Depression. Fact is the Tax man is the LAST element of any government to go away. ALL Services and promised pensions (like Social Security, Military Pensions and so on) can STOP the Law is the Enforcer and the bankers ALWAYS get their pound of flesh.
Don’t be homeless because they sold your home-farm on the courthouse steps like in the Great Depression for debts/taxes owed.
Historical fact the first time then President Washington called out the troop was to COLLECT Taxes from the hill folks. Whiskey Wars means anything to you?
Great link! If you’re not reading The Saker’s blog you’re missing out.
poor mother couldn’t afford a new back pack for her kid, so kid had to use a hand me down. and i don’t feel sorry for the kid at all.
i went to school wearing hand me down shoes, pants and shirts. my mom fixed the lunches i carried in a paper sack to eat at lunch. and there were no free lunches.
i think it’s fair to say that the results achieved by the “time out” generation fall far short of those achieved by the “@$$ whooping” generation.