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(The Economic Collapse Blog)—It is incredibly sad to watch the U.S. economy slowly but surely come apart at the seams all around us. For most of our history, the rest of the world marveled at our economic performance, and that is because we embraced economic values that led to great blessing. In recent decades, we have abandoned those values, but we were able to maintain a very high standard of living by going into unprecedented amounts of debt. Our leaders were able to keep the game going for longer than a lot of people thought, but now we have entered the final depressing chapters for the late, great U.S. economy, and we can see evidence of this all around us. If you doubt this, just look at all of the businesses that are going bankrupt.
Last week, I discussed the fact that for the year ending June 30th, the number of business bankruptcy filings was up more than 40 percent compared to the previous 12 months. There is no way that the Biden administration can manipulate this number. Either a business filed for bankruptcy or it didn’t, and right now we are seeing a spike of historic significance.
On Sunday, CNBC published an article that listed ten prominent restaurant chains that have filed for bankruptcy this year…
- Roti
- Buca di Beppo
- World of Beer
- Rubio’s
- Melt Bar & Grilled
- Kuma’s Corner
- Red Lobster
- Tijuana Flats
- Sticky’s Finger Joint
- Boxer Ramen
We really are in the midst of a “restaurant apocalypse”, and more of our favorite eateries are getting into trouble with each passing day.
For example, a large number of KFC locations just suddenly shut down in the Midwest…
Dozens of KFC locations owned by one franchisee have abruptly closed across the Midwest.
Up to 25 restaurants owned by major fast food franchisee EYM Chicken have shut in Illinois, Indiana and Wisconsin, according to reports.
The closure of several locations in Wisconsin will lead to nearly 100 employees being laid off, according to local media WKOW 27 News.
At one time, KFC was such a wonderful American success story. But now KFC restaurants are becoming an endangered species.
There used to be one about an hour from where I live, but that one has been shut down too.
If you still have a KFC in your community, you should visit it while you still can.
Meanwhile, we just learned that a chain of gas stations and convenience stores in the Midwest has also abruptly shut down…
The gas station and convenience store sector has faced distress in recent years marked by bankruptcy filings and store closings.
The Store convenience stores and gas stations, owned by Team Schierl Cos., in July 2024 was forced to shut down all operations of its 25 locations in Michigan and Wisconsin after its landlord Mountain Express Oil Co. filed Chapter 7 bankruptcy liquidation in August 2023, Convenience Store News reported.
Whatever is happening to the economy right now, it seems to be hitting the Midwest particularly hard.
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At the rate that things are going, I think that it won’t be too long before even more communities in the Midwest resemble the nightmare that Gary, Indiana has become…
Gary, Indiana – best known as the birthplace of Michael Jackson – is home to the highest abandoned home rate in the nation at 31.41 percent, according to analysis from 247WallSt.
The data found that the population has staggeringly dropped by 18.2 percent from 2010 to 2020, with a population around 67,000.
We also continue to see more signs of trouble in the banking industry.
According to the Daily Mail, the U.S. lost 41 more bank branches in just one recent two week period…
Major banks have closed 41 branches in just two weeks as the shift toward online banking continues. Major banks such as Bank of America, Chase and Wells Fargo were among those shuttering locations.
When the economy is booming, banks tend to open up lots of new branches.
What we are witnessing now is the opposite of that.
Of course lots of retail stores are being permanently shut down as well.
Thousands of store closings have already been announced in 2024, and now Big Lots has raised the number of stores that it is likely to close “to a maximum of 315”…
In the first quarter, the discount retailer said its net sales for the three-month period declined 10.2% year-over-year to $1 billion. For all of 2023, net sales were $4.72 billion, a 13.6% decrease compared with the prior year.
More recently, in an Aug. 2 filing, the company told investors that it had upped the number of permitted store closings to a maximum of 315 as part of late July amendments to a credit agreement and term loan facility. That marked a 165-store increase from the 150 previously permitted.
There were nearly 1,400 Big Lots stores in the U.S. as of the first quarter. The discount retailer’s locations sell home goods, furniture, seasonal decorations and other products.
Sadly, this really is the beginning of the end for Big Lots, because it won’t be able to survive much longer.
Rite Aid is another major chain that is in serious peril.
They have already closed hundreds of stores, but that hasn’t helped much…
Another retail casualty this year has been the sudden bankruptcy of Rite Aid, leaving hundreds of stores empty in states such as Michigan and Ohio after closing up to 500 stores nationally. In its filing, the company said it expected its losses would increase significantly in the past quarter, following a loss of $750 million between March 2022 and March 2023 and another $307 million in the second quarter this year. The last quarterly report filed by Rite Aid was in June, when they had only $135.5 million of cash to work with, combined with $3.3 billion in long-term debt.
Needless to say, Rite Aid is far from alone.
All over the nation, once thriving businesses are being boarded up.
U.S. consumers simply do not have the same level of discretionary income that they once did.
The cost of living crisis has hit most Americans really hard, and at this point the vast majority of the population can no longer afford to purchase an average home.
These days most Americans are desperately trying to find a way to scrape by from month to month, and so there just isn’t a lot of room for discretionary spending.
Economic conditions are not good right now, but what is this country going to look like once they take a dramatic turn for the worse?
You might want to think about that, because what we are experiencing at this moment is going to look like rip-roaring prosperity compared to what is eventually coming.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Smoke And Mirrors: What Happens After Biden’s Economic Manipulations Disappear?
by Brandon Smith
There is a popular school of thought that believes most economic stability is purely psychological; that the health of the economy relies on the population NOT knowing the true state of things. In other words, “ignorance is bliss.” I partially agree with the premise but only under certain conditions. If…
Kamala Harris Has a ‘Conversation’ With the National Association of Black Journalists
by Red State
Vice President and selected Democrat nominee Kamala Harris did not have to wait like former President and GOP nominee Donald Trump for the National Association of Black Journalists (NABJ) to get their technology together on Tuesday. They were right on time for this “Conversation with Vice President Kamala Harris” in…
Vaccine-Injured Americans Fight to Hold Biden-Harris Admin Accountable Over Censorship Campaign
by The Blaze
Novel COVID-19 vaccines advertised as “safe and effective” left multitudes of Americans injured or worse during the pandemic. Some of those individuals still physically capable went online to express their concerns, share their life-changing experiences, and engage with others medically compromised by government mandates and experimental science. However, in many…
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ABC News Hits the Panic Button After Sworn Statement Proving the Debate Was Rigged, David Muir Does Damage Control
by Joe Kovacs, WND
(WND News Center)—ABC News is apparently pressing the panic button in the wake of fierce criticism of its Sept. 10 presidential debate between former President Trump and Vice President Kamala Harris. A sworn statement by an ABC News whistleblower exposing network bias favoring Harris continues to be in focus regarding…
The FBI Should Visit the New York Times About Instigating More Anti-Trump Violence
by The Federalist
If the price to pay as a Republican running for president is the media blaming you for being nearly assassinated, they are culpable. The FBI should consider stopping by the homes of New York Times reporters Michael Barbaro and Peter Baker after their slew of public remarks about Donald Trump…
IT NEVER ENDS! Soros-Funded Group Doubling Down on Censorship Efforts Ahead of 2024 Election
by Newsbusters
A radical censorship-obsessed group financed by leftist billionaire George Soros is doubling down on efforts to interfere in the 2024 election by turning the screws on Big Tech to censor speech and by manipulating journalists. Free Press, fueled with at least $2 million by Soros between 2017 and 2021, announced…
NYPD: 81-Year-Old Woman Knocked Unconscious in Random Attack, Suspect on the Loose
by Breitbart
An elderly New York City woman was injured in an unprovoked attack when a random man sucker punched her in the head while she was walking her dog, surveillance footage shows. The victim, 81, was out with her dog on Friday just after 7:00 p.m. near W. 66th St. and…
Wi-Fi Routers Are ‘Significant EMF Emitters’ and ‘Should Be Away From Livingrooms/Bedrooms’ — Study
by Infowars
A recent scientific study on the specific absorption rate (SAR) values in the brain and body from electromagnetic frequencies (EMF) emitted by modern electronic devices indicate that certain tech devices, such as Wi-Fi routers, should not be in the same rooms that people spend much of their time in, such…
America First Legal Investigates Biden Admin’s Potential Knowledge of Second Trump Shooter
by Daily Caller
The conservative group America First Legal (AFL) is investigating whether the Biden-Harris administration was monitoring Ryan Wesley Routh, the suspect who allegedly attempted to assassinate former President Donald Trump on Sunday. AFL announced Tuesday it was launching a “multi-front” investigation into any records the Biden-Harris administration may possess on Routh….
With a Male Player, San Jose State University Women’s Volleyball Is Having Its Best Season Ever
by The Blaze
The women’s volleyball team at San Jose State University remained undefeated and is now 6-0 following its latest victory. The team is off to its best start in program history, according to OutKick, and continued its hot streak with a 3-2 win over fellow NCAA Division I Santa Clara. The…
Klaus Schwab Calls for “Global Collaboration” to Combat “Misinformation”
by Reclaim the Net
It will take serious research and serious access to information ever to figure out which came first, the WEF chicken, or the WEF egg. But this unelected, informal group of highly influential global elites has often been able to either seemingly predict, or seemingly help make happen – some major…
‘I Reached Out’: Chris Cuomo Reveals What He Told Trump After Second Assassination Attempt
by Daily Caller
NewsNation host Chris Cuomo on Monday said he expressed condolences to Donald Trump after the second attempt on his life on Sunday, saying the former president “doesn’t deserve” to face assassination attempts. Federal and local officials confirmed Sunday the arrest of 58-year-old Ryan Wesley Routh for allegedly attempting to assassinate…
ABC’s ‘World News Tonight’ Ratings Tank After Hosts’ ‘One-Sided’ Moderating of Trump-Harris Debate
by Harold Hutchison, Daily Caller News Foundation
(DCNF)—Ratings for ABC’s “World News Tonight” fell by over 10% since the Sept. 10 debate between former President Donald Trump and Vice President Kamala Harris hosted by ABC News hosts David Muir and Linsey Davis. The Disney-owned network’s broadcast news program hosted by Muir that airs at 6:30 p.m. EDT…
Federal Loopholes Allow China to Buy Land Near Sensitive Ports, Labs, and Coast Guard Facilities, Prompting Congressional Concern
by Free Beacon
China and other foreign adversaries are still permitted to purchase U.S. land near sensitive Coast Guard facilities, ports, and Energy Department labs, exposing national security gaps that lawmakers say enable hostile regimes to conduct espionage operations on American soil. The Treasury Department’s Committee of Foreign Investment in the United States…
Iran’s Ambassador to Lebanon Reportedly Injured by Exploding Pager
by Red State
I’m not sure who had exploding pagers on their Bingo cards for 2024, but why not? As Bonchie reported earlier: In one of the most unbelievable developments of 2024, Israel somehow hacked into the pagers and cell phones of Hezbollah fighters and caused them to explode. News of hundreds of…
Trump Issues a “Cease and Desist” to Election Cheaters, Promises Retribution for Those Who Don’t Heed the Warning
by Fred Lucas
(The Daily Signal)—As early voting begins this week in the battleground state of Pennsylvania, former President Donald Trump posted another warning to cheaters on Truth Social. “CEASE & DESIST,” the 45th president posted Tuesday. “I, together with many Attorneys and Legal Scholars, am watching the Sanctity of the 2024 Presidential…
Lawmaker Warns of Rising Trend of ‘Hostage Diplomacy’ After China Releases Us Citizen
by The Epoch Times
The top Republican on the Foreign Affairs Committee said “hostage diplomacy” is on the rise, a day after the Chinese regime released an American citizen and pastor who had been detained for nearly 20 years. The State Department announced on Sept. 15 that David Lin, who was on a missionary…
Hillary Clinton Calls for Americans Who Disagree With Democrat Narratives to Be Imprisoned
by Cindy Harper, Reclaim The Net
(Reclaim The Net)—Former US Secretary of State Hillary Clinton has has decided to ignore the First Amendment and has advocated for punitive measures aimed at Americans who contribute to the spread of what she calls “propaganda.” Speaking to MSNBC on Tuesday, Clinton suggested that holding American individuals accountable through civil…
CBS Ties 2nd Trump Assassination Attempt to Springfield, Buries Threat Hoaxes
by Newsbusters
With the aftermath of the second assassination attempt on former President Donald Trump drawing significant coverage, the Springfield “dogs and cats” story is beginning to recede from view- except on CBS, which chose to flog the story for at least one more night. Watch CBS Evening News anchor Norah O’Donnell’s…
Exposing the Lethal Fraud of Gender Ideology: Dr. Ann Gillies’ Documentary Unmasks the SOGI Agenda in Schools
by RAIR Foundation
Dr. Ann Gillies, who was featured in a RAIR Dr. Ann Gillies, who RAIR featured in an article on July 3rd, has created a 45-minute documentary exposing the dangerous and sometimes lethal fraud of SOGI (Sexual Orientation and Gender Ideology), which is being promoted in both Canadian public and Catholic…