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15 Comments

  1. It is easy for any American to see that the economy is not all roses just by driving through almost any retail area and noting the closed stores found there. For the last several years more businesses have closed than have opened so we have a continual net loss. When this is pointed out many people say it is because of on-line sales destroying brick-and-mortar stores. But on-line sales are still only 10% of all sales and much of the on-line sales are from brick-and-mortar stores (Walmart, Target, etc).
    I would say to prep up.

  2. Did a little research:

    Roughly 328,000,000 American Citizens live in the United States.
    There are 73,900,000 children, 17 and under in the United States.
    There are 55,287,000 Americans on Social Security retirement or disabled and not working in the United States.
    There are 156,970,000 Americans who are employed in the United States.
    That leaves 41,843,000 Americans who are not working, roughly a 12% not officially working.

    This is a little closer to reality. I can’t find a number for those who are self employed or whether it counts in the total number employed. I also can only find roughly 5.5 million who are officially on unemployment, U3, and just 8 million in the U6 number (unemployed plus those who have quit looking or who are underemployed). Also there is no number for the number of Americans who work off the books. When I looked into the welfare statistics, there is no real breakdown of how many are kids, how many are working age adults who are not employed. All I find is statistics, percentages, not very useful when trying to find real world numbers.

    Then again, since when do politicians and bureaucrats live in the real world.

    So I’m skeptical of Mr. Smith’s number of those not in the workforce. Almost 42 million is a lot, and 12% is high, but 24% not not in the workforce, please.

  3. A timely article indeed. As a former financial advisor I can tell you that the Federal Goverment is very interested in NOT admitting to inflation.

    The minute they admit to an inflation number they are immediately on the hook to pay out on “TIPS”.

    TIPS are Treasury Inflation Protected Securities, essentially bonds that have been sold to American and Foreign investors for decades with the promise that when inflation wemt up so would their bind coupon payment.

    Of course these were marketed to the elderly as being “safe investments”.

  4. This is a good article on the state our financial conditions. I agree that the government lies to the masses ( that be us ) about inflation, true employment numbers and the state of financial stuff in general .It is really a smoke and mirrors scenario.
    One only has to pay attention to increasing grocery prices while shopping. It will be interesting to see how high food prices go concerning the recent flooding and freezing around the country.This is definitely stock up time for the pricey road ahead.

  5. Mr Smith really never tells how to prepare for the economic collapse in detail. And the crisis is always just around the corner or it’s already happening but no one is seeing it.

    I wonder if Mr Smith and Mr Richards or Mr Dent agrees on which calamity will happen first since all of them are on the same page give or take the individual metrics that will cause the collapse.
    And will climate change be a factor?

    I just cannot take these people seriously. These salesmen of the fear trade are old and tiresome.

    1. I must agree with you, Skip. In the early 80s I read much the same kind of “warnings”.

      When I sought a simple solution or two (had to be simple since I never had a lot of money) I usually came up dry. All I found was more things I should fear, according to the author of the day.

      Now, this is what I love about SurvivalBlog. Down-to-earth, practical, “I did this” writing. Simple. Something I can implement with the little money I have.

      Raise your own food. Buy nickels and silver. Develop teams of trust and action. Even make your own soap. My kind of “can-do” people.

      Carry on

  6. My hubby and I are retired and live on a fixed income. We have been “preppin” food wise with a small garden the past few years and stocking our pantry so that we could live for 6-8 months. We are mostly debt free except for a vehicle that we make payments on and other normal expenses like electric and water bills ect. Please help by listing some real life practical things we can do (while we still have time) to prepare! Thank you.
    LuLu

  7. One nitpick: Intel’s sales are in trouble because they screwed up their next-gen transition and AMD looks like they won’t. Intel’s bleeding market share and that should accelerate over the next year.

  8. Hi lulu,
    Congrats on being nearly debt free and on your food stocks.We are on a fixed income also . One of the big challenges and it is a very basic foundation of living within your means, is to discern between between “wants” and “needs”.

  9. One of the key pieces of information Mr. Smith didn’t list was that the major market props were corporate stock buy backs which were up 91% over last year. They use this major tool of cheap interest rates to boost earnings. As that slowly goes away the real market slide begins.

  10. This ‘crash’ started in 2007/2008 and has not stopped, only slowed, notwithstanding the government’s pronouncement that the Great Recession ended in 2009. Government debt, corporate debt, and private debt is so far out of control that we will all be in for a hard landing when it returns to Earth. For the past 100+ years, private banking cartels have been squeezing the lifeblood out of our economy by means of inflation, deficit spending by the government, and ‘loaning’ money to the government. The last drops are all that remains. Everyone knows this including President Trump, who is working to provide as soft a landing as possible. Hence his talk about a strong economy. But he knows that it is coming. So do the democrats. They want Trump to take the blame when the dollardebt finally dies, as they blamed Hoover in 1929. BTW, Hoover had only been in office for 5 months when Wall Street crashed- he can hardly be blamed- but the democrats still falsely blame Hoover after 80 years. This is the real reason that they will not impeach Trump. And there is still a chance that Trump will get his soft landing- despite having NO support from the traitors in his own party. Let us hope so.

  11. Yesterday I was re-reading Mr. Smith’s previous imminent doom diatribe and found several of his predictions were months overdue, and just plain wrong. Yeah, I know no one can see the future, and I enjoy his fiction novels, but he really needs to stick to facts – or stick to fiction. No single benchmark indicator tells the whole story, and if you want to see how “bad” it is here just look at any other country for a dose of perspective.

    1. Exactly, it’s mostly garbage to get clicks to get ‘ad revenue’. These guys continuously forecast a crash and then they claim to be ‘right’ on any bad number that comes out.

      I’ve been involved in finance and economics for 25 years after 10 years as a military officer (including working for 2 of the top generals personally). I’ve been involved/worked for some of the biggest firms. The Great Recession of 2007-9 was NOT the norm it was an anomaly caused by greed and poor regulation that has been mostly corrected and was likely a generational event, not a common one. I could talk at length about the difference between a business cycle recession (normal) and credit recession (not normal) and why it takes decades to get to build up for a credit recession.

      What makes a lot more sense is to go about your business, live your life and prepare for the LIKELY eventualities and when you feel like you’ve got that done, then add for the SHTF stuff.

  12. “102 million working age people (counted and not counted as unemployed) are jobless in the US. This is almost 50% of the total 206 million working age people in the country. Yet, the BLS reports the unemployment rate at an astonishing 4%.”

    When I was a kid, typically the husband worked (outside the home) and the wife did not. But you didn’t count that as 50% unemployment.

    Granted, these days typically both have to work.

    1. Don in Oregon,

      Yes, yes, yes! In a healthy, good, American society our women would be mostly home with the children, teaching them, feeding them real, good food, managing an efficient household, building community, etc, etc.

      That doesn’t mean none of them would be “employed.” But the notion that all of them should be working for someone else than their families (and community) is awful, modern garbage.

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