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 percentright now. That is worse than anything that we experienced during the Jimmy Carter era.
#6 At one company, the number of Americans taking out short-term loans for groceries has nearly doubled this year.
#7 One out of every five home sellers in the United States dropped their asking price last month. This is more evidence that home prices are starting to rapidly move in a downward direction.
#8 Sales of previously-owned homes were about 20 percent lower this July than they were last July.
#9 One recent survey found that 3.8 million Americans believe that they could be evicted from their homes within the next two months.
#10 According to the National Energy Assistance Directors Association, approximately 20 million U.S. households are currently behind on their utility bills.
#11 The Dow Jones Industrial Average has fallen for three weeks in a row. We also witnessed this sort of a gradual slide just prior to the big crash of 2008.
#12 In August, a whopping 2,150 corporate executives sold off shares in their companies. Are they trying to cash in while they still can?
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