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(The Economic Collapse Blog)—The health of the economy has been a major determining factor in many past presidential elections, and the health of the economy is certainly going to have an enormous influence on the outcome of the upcoming presidential election. In fact, according to a poll that was just released by Rasmussen the economy is the number one issue by a wide margin for voters in the ultra-important swing state of Pennsylvania. Unfortunately for the Democrats, most Americans are not pleased with how the economy is performing, and it appears that conditions are now taking another turn for the worse. The following are 10 signs that the economy is a giant mess as the election approaches…
#1 The number of Americans filing first time claims for unemployment benefits just hit the highest level in over a year…
The number of people filing for unemployment for the first time was at its highest levels in more than a year, partly due to storm damage and labor stoppages.
Initial jobless claims for the week ending Oct. 5 came in at 258,000, up 33,000 from last week’s level of 225,000, and the highest since it hit the same level in August 2023, data from the Labor Department shows.
#2 According to Primerica’s latest Financial Security Monitor report, the percentage of middle-income households that “rate their personal financial situation negatively” has hit the highest level that they have ever recorded…
Primerica’s latest Financial Security Monitor report for the third quarter found 55% of middle-income households now rate their personal financial situation negatively, a 6-point jump from the previous survey.
“For the first time in a year, a majority of middle-income households are feeling negative about their personal finances,” said Glenn Williams, CEO of Primerica. “In fact, this latest report represents the highest negative rating we’ve seen since we began fielding the survey exactly four years ago.”
#3 I am old enough to remember a time in this country when you were set for life if you had a million dollars. Unfortunately, thanks to our endless cost of living crisis it now costs 4.4 million dollars to live “the American Dream” over the course of a lifetime…
You can live the American Dream, but it will cost you.
The lifetime tab for such aspirations as owning a home, driving new cars, raising kids and taking annual vacations comes to a cool $4.4 million, according to Investopedia, the financial media site.
That’s more than the average American earns in a lifetime.
#4 The company that produces more french fries than anyone else in North America is cutting production and laying off workers due to a dramatic slowdown in consumer demand…
Lamb Weston, the largest producer of french fries in North America and a major supplier to fast-food chains, restaurants and grocery stores, is closing a production plant in Washington state. The company announced last week that it would lay off nearly 400 employees, or 4% of its workforce, and temporarily cut production lines in response to slowing customer demand.
#5 At one time Boeing was flying high, but now it has decided to lay off approximately 10 percent of its entire workforce…
The CEO of Boeing told employees late Friday that the company plans to cut 10% of its total staff “over the coming months.”
“Our business is in a difficult position, and it is hard to overstate the challenges we face together,” said Kelly Ortberg, who started at CEO of the troubled aircraft maker two months ago and has been dealing with a strike by 33,000 hourly workers for half his time on the job.
#6 The banking industry continues to deeply struggle. So far this year, banks in the United States have permanently shut down over 700 local branches…
US banks closed more than 700 branches in the first nine months of the year, forcing thousands to travel further to access vital services.
Bank of America closed the most locations of any bank, shuttering 132 between January and September.
U.S. Bank followed swiftly behind, having closed 101 of their own branches.
#7 After 75 years, True Value has been forced to file for bankruptcy and will be “selling substantially all of its operations to a rival”…
True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday.
In a press release, True Value said it will continue day-to-day operations of selling hardware and other homeware tools to its 4,500 independently operated locations during the Chapter 11 process, which includes a $153 million stalking horse bid from rival company Do it Best.
#8 Did you ever think that you would live to see a day when hundreds of 7-Eleven stores would be closing? Sadly, that time has now arrived…
Several hundred “underperforming” 7-Eleven locations across North America are closing, the convenience store announced.
Seven & I Holdings, the chain’s Japan-based parent company, revealed in an earnings report Thursday that 444 locations of 7-Eleven are shutting down because of a variety of issues, including slowing sales, declining traffic, inflationary pressures and a decrease in cigarette purchases.
#9 Home Depot apparently believes that rough times are ahead, because they are dumping millions of square feet of warehouse space…
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Home Depot is hastily exiting warehouse space, to the tune of 3.2 million square feet in a month, according to Bisnow.
Since late August, Home Depot has put up nearly 4 million square feet of warehouse space for sublease, including a 1.3M SF Phoenix warehouse and a 1.1M SF distribution center in the Inland Empire, according to CoStar Analytics.
#10 At this point, things are so bad that even Disney is laying off workers…
According to sources cited by Deadline, Disney is pushing ahead with new layoffs as part of a broader “cost-saving initiative.” About 300 employees across Disney’s corporate divisions will be impacted this week.
The layoffs of 300 employees began on Tuesday and will continue until the end of the week. They are all US-based employees who work across the company’s corporate operations, including legal, HR, finance, and communications.
If you have recently lost your job, I feel very badly for you, because the employment market has gotten a lot more “complicated” than it was in the old days.
Once upon a time, being good at what you do was enough.
But now other considerations are often more important than pure merit…
A top Oregon state official has been put on administrative leave after a pink-haired, DEI-obsessed subordinate complained he was making hiring decisions based on qualifications instead of personal identity considerations, according to a report.
Mike Shaw, who until recently served as the Oregon Department of Forestry’s second-in-command, was put on blast by Megan Donecker, the department’s former DEI strategy officer, for looking “beyond gender and identity in hiring, seeking only candidates most qualified for the job,” OregonLive reported.
He was formally placed on administrative leave Aug. 6 after Donecker filed a formal complaint, according to the Daily Mail.
Isn’t that nuts?
Our society is getting crazier with each passing day, and I am deeply concerned about where all of this is heading.
Sadly, the tough economic times that we are experiencing now are not even worth comparing to the pain that is coming if we don’t turn things around.
Our system is literally crumbling right in front of our eyes, and unless something dramatic happens economic conditions in this country will soon become extremely harsh.
Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Afghan Who Plotted Election Day Terrorism Was a CIA Contractor
by Headline USA
It looks like the FBI may have entrapped a former CIA contractor in a plot to commit a terrorist attack on Election Day. The Justice Department announced this week the arrest of Nasir Ahmad Tawhedi, a 27-year-old Afghan man, alleging that he was planning an Election…
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Genetically Modified Crops: A Growing Threat to Health and the Environment
by Olivia Cook
(Natural News)—Bioengineered foods and genetically modified organisms (GMOs) are commonly confused with each other, but they have different meanings. “Bioengineered” describes food and products that are enhanced with scientific techniques to add particular traits. In contrast, “GMOs” involve changing the genetic makeup of animals, plants or microbes in ways that…
United Nations Expands into “UN 2.0” to Turbocharge Sustainable Development Goals
by Liberty Sentinel
The United Nations (UN) has not gone rogue, argues journalist Alex Newman on American Family Radio’s show, At the Core , but they have always existed to achieve one goal: one-world government. This goal is not only un-American, but it is unbiblical. Newman and AFR host Walker Wildmon also dive…
Congressman Matt Gaetz Says Epstein Was Killed as Part of a ‘Foreign Operation’
by Modernity
Republican Congressman Matt Gaetz says sex trafficker Jeffrey Epstein was killed as part of a ‘foreign operation’, but refused to divulge which government was responsible for his death. Gaetz made the comments during an appearance on Benny Johnson’s show. In August 2019, Epstein was found unresponsive in his jail cell…
DOJ Takes Aim at Breaking Up Google
by Infowars
On Tuesday, the United States announced potential plans to request a court mandate directing Alphabet Inc to divest significant segments of its operations, including its Chrome browser and Android operating system. This move aims to dismantle what is described as an illegal monopoly held by Google in the online search…
Is Gavin Newsom Hoping that Kamala Harris Loses the Election?
by American Greatness
Two minutes of airtime during the Democrat National Convention in Chicago gave California Governor Gavin Newsom his latest opportunity to build his national stature. As part of the announcement of Kamala Harris’s clinching of the Democrat presidential nomination during a symbolic roll call of state delegates, Newsom portrayed Harris as…
Is It Time for a Nationwide Ban on Fluoridated Water?
by Natural News
Do community leaders reserve the right to mass medicate every person in their community using the water supply as a vector? What if that medicine was eventually exposed as a POISON decades later? What if that POISON was damaging the brains of children and stunting the cognitive development of the…
GOP Rep. Luna: We Need to End FEMA Migrant Spending and Boost Disaster Relief Funding
by Breitbart
On Wednesday’s broadcast of the Fox News Channel’s “Ingraham Angle,” Rep. Anna Paulina Luna (R-FL) stated that FEMA’s funding for migrants should be zeroed out at once and that while there is FEMA money for hurricane victims, we should also boost emergency relief funding “that will go directly to Americans…
Earth’s Continental Crust in America and China Is Breaking Apart
by End Times Headlines
Researchers, who have been studying the dramatic changes in the continental configurations of Earth over the past billions of years, have made a stunning observation: that the oldest continental crusts are disintegrating. According to experts, the Earth’s crust went through expansion and contraction and has transformed not only its positions…
“Line All Those Guys Up and Shoot Them”: Professor Says Men Who Don’t Support Female Candidates Should Be Massacred
by Daily Caller
(Jaryn Crouson, DCNF)—A professor at the University of Kansas (UK) told a class that men who would not vote for a female president should be lined up and shot, according to a video posted on X Wednesday. The university confirmed the professor is employed at UK and made the comment…