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(The Economic Collapse Blog)—As the U.S. economy slows down, those at the bottom of the economic food chain are being hit the hardest. Homelessness is surging, the number of Americans living in poverty is rising, and more Americans are considered to be among “the working poor” than ever before.
Unfortunately, we are witnessing a historic economic shift right now, and economic conditions are only going to get even more harsh during the months ahead. Needless to say, that is really bad news for all of us.
According to a report from Harvard University, approximately 650,000 Americans were homeless at some point last year. That represented an increase of nearly 50 percent from 2015…
A January 25 report from Harvard’s Joint Center for Housing Studies estimated that over 650,000 Americans experienced homelessness in 2023—up almost 50% from 2015. Costs of renting and home ownership have skyrocketed while wages largely stagnate. The Harvard report found that half of U.S. households are “cost-burdened” (meaning that 30-50% of monthly income goes to housing), and 12 million people are “severely cost-burdened.” These Americans stand one accident, health setback, or employment disruption away from eviction.
During the past several years, scores of tent cities have sprouted like mushrooms in and around U.S. cities from coast to coast.
One 32-year-old woman named Brandy that is living in a tent city near Winterhaven, Florida says that she has been living there for five years and literally has nowhere else to go…
Deep in the woods outside of Winterhaven, Florida, are a cluster of tents and tarps. There are 46 people that live in this homeless encampment, including Brandy C., who has been there for five years.
“I just made a mistake and I’ve been stuck here since. I’m trying to fix it and I can’t,” Brandy told Scripps News Tampa.
The 32-year-old said the homeless camp is not the safest environment, but it is somewhere she can lay her head at night. However, it could soon be taken away.
“They tell us, ‘y’all know y’all fixing to have to leave,’” Brandy said. “We’re like, ‘so where do we go?’”
These are the forgotten people that our politicians don’t like to talk about.
And their ranks are growing with each passing day.
In Denver, officials have spent 274 million dollars to fight their homelessness crisis, but the area has still “added more homeless individuals than any other metro region in the country since 2018″…
Metro Denver’s homeless crisis has worsened and become among the most acute in the nation despite the city of Denver contracting for at least $274 million from 2021 through 2024 to keep people off the streets.
The Denver metro region has added more homeless individuals than any other metro region in the country since 2018, according to key metrics collected by the federal government.
Like we are seeing in so many other cities, mass migration has been playing a major role in Denver’s homelessness crisis.
We can’t even come close to taking care of the hundreds of thousands of Americans that are already homeless, and more deeply impoverished people are constantly being allowed to pour over our borders.
Meanwhile, the number of Americans that are living in poverty and the number of Americans that are considered to be among “the working poor” both continue to increase.
As I discussed last week, more than 11 percent of Americans are officially impoverished, and another 29 percent are “Asset Limited, Income Constrained, Employed”…
Over time, higher costs and sluggish wage growth have left more Americans financially vulnerable, with many known as “ALICEs.”
Nearly 40 million families, or 29% of the population, fall in the category of ALICE — Asset Limited, Income Constrained, Employed — according to United Way’s United for ALICE program, which first coined the term to refer to households earning above the poverty line but less than what’s needed to get by.
That figure doesn’t include the 37.9 million Americans who live in poverty, comprising 11.5% of the total population, according to data from the U.S. Census Bureau.
Do you understand what this means?
More than 40 percent of the U.S. population is either homeless, living in poverty or among the ranks of the “working poor”.
That is staggering. The middle class is being absolutely eviscerated, and a lot more pain is on the way.
Former Merrill Lynch chief economist David Rosenberg accurately predicted the recession that hit us in 2008, and he is now warning that things are about to get really bad in this country.
In fact, even though the Biden administration is telling us that the economy added “175,000 jobs” last month, he is convinced that the economy is actually bleeding jobs…
The US economy added 175,000 jobs last month, shy of economists’ forecasts for 238,000. In notes to clients Friday, the former Merrill Lynch chief economist explained why he views the numbers as a cause for concern.
He said the data is inconsistent with numbers coming from the Bureau of Labor Statistics’ Quarterly Census of Employment and Wages and Business Employment Dynamics datasets, both of which stated the economy actually lost jobs in the third quarter.
Given the disparity, Rosenberg said the data is likely ‘overstated – by historical proportions.’
I agree with Rosenberg.
Large companies all over America have been conducting mass layoffs, and the numbers that we are getting from sources that are not controlled by the Biden administration clearly indicate that the economy is losing jobs.
But I am also convinced that our economic problems will accelerate significantly as we head toward the end of this year.
A “perfect storm” of factors is hurting economic performance all over the world, and I anticipate that global turmoil is only going to become more intense as the months roll along.
So what is the bottom line?
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The bottom line is that more Americans will soon be homeless, more Americans will soon be living in poverty, and more Americans will soon be among the ranks of the “working poor”.
Our standard of living is steadily declining, and if you want someone to blame you can blame those that are currently running the show in Washington.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
Most Accurate Pollster From 2020 Drops Final Numbers
by JD Rucker
Atlas Intel, which was hands down the most accurate public poll during the 2020 election, just dropped its final poll of the season. It points to landslide victory for Donald Trump. If Kamala Harris is able to win Minnesota and Virginia, two blue states that are in jeopardy of being…
A Kamala Harris Victory Means Green New Deal Lawfare
by Daily Signal
Expect Kamala Harris’ Justice Department to wage Green New Deal lawfare if she is elected president on Nov. 5. As with every last issue pertaining to this election, Harris has not said much about the substance of her climate policy. But a review of her record suggests she’d be amenable…
The Moral and Spiritual Issues That Demand Our Votes
by Harbingers Daily
As a pastor and a preacher, I want to urge all Christians this election season: Get out and vote. I believe it is our duty as citizens of our state and country, but I also believe it’s especially important given the issues represented in this election. Many of these are…
No Matter the Final Vote, This Election’s Biggest Loser May Be the Legacy News Media
by Just The News
In the sultry days of summer 2020 as Donald Trump contemplated a second term, his aides engaged in a quiet conversation with members of the emerging digital media about an audacious idea. The goal was to bypass the traditional news media who monopolized the White House Correspondents Association press room…
Democrats Unveil Dark, Diabolical Plans to Prevent Trump From Retaking White House – Even if He Wins!
by WND
With results from the 2024 presidential election now imminent, Democrats have been vocal in their plans to subvert the will of the American people and prevent former President Donald Trump from retaking the White House if he pulls out a win over his Democratic rival Vice President Kamala Harris. In…
Trump Doesn’t Rule Out Banning Certain Vaccines if He Wins Election
by The Epoch Times
Former President Donald Trump in a new interview did not rule out banning some vaccines if he wins the upcoming election. “Well, I’m going to talk to him and talk to other people, and I’ll make a decision,” Trump told NBC over the weekend when asked if banning vaccines would…
Trump, Republicans Pin Hopes on Record Early Voting in North Carolina
by Jeff Louderback, The Epoch Times
(The Epoch Times)—In his final North Carolina rally of the 2024 campaign, former President Donald Trump predicted he would win the state where he prevailed in 2016 and 2020. “North Carolina’s reliable for me,” Trump said at Dorton Arena in Raleigh, the first of four stops on Election Day Eve….
If Godly People Don’t Vote, Godless People Will: The Christian Case for Voting
by The Blaze
Do Christians have a spiritual responsibility to vote? Allie Beth Stuckey of “Relatable” and the senior pastor of Lakepointe Church, Josh Howerton, believe the answer to that question is a resounding “yes.” “I’ll gently venture out on a limb,” Howerton tells Stuckey. “I think Christians have a spiritual responsibility to…
Here’s Proof the FBI Protected Biden in 2020, and Why Congress is More Important Than the White House
by PJ Media
You won’t find it reported on the A-section pages of the New York Times or the Washington Post even though it is quite likely the most significant report produced by any investigative committee in Congress since the Church Committee in 1976. For those who need a refresher, the investigative committee…
The Media Made Sure This Election Was Never Going to Be Free or Fair
by The Federalist
The corrupt news media lied to voters on behalf of Democrats over and over ensuring an unfair election. How can we ever return to normal? It’s truly awe-inspiring to watch the news media berate Republicans, down to the very end, over the “free and fair” election we’re most certainly not…
“It’s Not Going to Be Close”: Mark Halperin Says One Key Voter Group Will Decide the Election
by Harold Hutchison, Daily Caller News Foundation
(DCNF)—Journalist Mark Halperin said on Monday that the turnout of women would decide the presidential election between former President Donald Trump and Vice President Kamala Harris. Trump leads Harris by 0.1% in a head-to-head matchup, according to the RealClearPolling average of polls from Oct. 11 to Nov. 3, with Trump’s…
It Was the Night Before the Election, and Everyone Was Freaking Out
by Michael Snyder
(End of the American Dream)—I have never seen so much doubt, worry, anxiety, fear and panic as we approach a presidential election. All over the country, people are freaking out right now. Democrats are freaking out because the early voting numbers are so dramatically different from 2020. Republicans are freaking…