There have been rumblings, online and off, throughout the world of finance that "something" is going on, but rumors being what they are, one must take that chatter with a grain of salt.
With that said, anything adding more weight to the camels back is going to contribute to the economic crisis we already face.
The Issues We Already Know Of:
Gas still above what it was before Joe Biden started occupying the White House (Expected to rise again after the November midterms). Food inflation causing more and more people to food banks, and others to change their eating habits because they get less food for more money at the grocery store. Overall inflation already costing American families more than 4K in annual income, according to the most recent reports.
• “New economic numbers show that the average American has lost the equivalent of $4,200 in annual income under the Biden administration because of inflation and higher interest rates,” the Heritage Foundation said in a press release Thursday.
• Heritage experts calculated this shocking number based on different sets of data. Consumer prices have risen 12.7% since January 2021, significantly faster than wages, so that the average American worker has lost $3,000 in annual purchasing power. Further, as the Federal Reserve implements tighter monetary policy to reduce inflation, interest rates are rising. Higher rates have in turn increased borrowing costs on mortgages, vehicle loans, credit cards, and more. The higher interest rates and borrowing costs have effectively reduced the average American’s purchasing power another $1,200 on an annualized basis.
Without the red flags of the most recent reports which we will discuss below, we also see that the economic crisis is already so bad for Americans that many are racking up credit card debt just to pay their bills and feed their families.
According a new report from CreditCards.com, 60% of credit card holders have been carrying balances on their cards for at least a year, up 10% from 2021.
"It's even harder to get out of debt when it's spending on necessities that got you into that position in the first place," said Ted Rossman, senior analyst at Creditcards.com. "These expenses aren't easily avoided."
Other issues include a "Tsunami of shutoffs" expected before winter from people so far behind on their electric bills, and evictions are ramping up since the end of the eviction moratorium.
Add the following reports into the mix and we believe a little preemptive action may not be a bad idea. We'll discuss suggestions after a recap of current reports and ask readers to add their recommendations in the comment section.
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CURRENT ECONOMIC COLLAPSE NEWS
Once again when stepping back and looking at the variety of reports instead of seeing them individually and unconnected, we see some disturbing red flags which are indicative of an upcoming economic event
Is Pope Francis eluding to an economic crash of epic proportions? He has ordered the Holy See to transfer all of its assets to the Vatican Bank by October 1st.
That means there is just over one week to comply with the Pope’s demands. The Holy See, which is the central government of the Roman Catholic Church and falls under the episcopal jurisdiction of the pope in his capacity as the leader of the Catholic Church and the bishop of Rome, was given the orders on August 30.
In a document known as “rescriptum” or re-writing that was issued on August 30, Pope Francis ordered the Holy See’s financial and liquid assets that are held in other banks to be moved to the Vatican Bank within 30 days of September 1. The pope’s rescriptum also served as a legal document with “the nature of an authentic interpretation” of certain provisions in the constitution of the Roman Curia, the central and leading administrative body of the Holy See, which gives the pope the authority to do this.
Excess inventory? Interesting reasoning considering we have all seen the images throughout the year of empty shelves, aside from the grocery departments, leaving us to wonder what type of inventory do they have in excess.
ANP Reader image: Walmart, Columbia, MS. July 2022
The pattern is pretty clear to see. We are barreling towards a devastating economic event that could collapse the entire economy.
The fact that the Biden regime is busy sending tens of billions of American taxpayers' dollars to Ukraine, while the U.S. in the midst of an economic crisis, provides further evidence that they are not even trying to avert the crisis.
Reasonable people can reasonably question whether this is being done deliberately, by design.
Fact is the Biden regime's actions do not reflect the urgency required to pull America out of the mess Biden's policies have created.
GET CASH OUT OF THE BANK NOW
We have seen chatter about lower limits being placed on withdrawals from some, while others have not encountered a problem....yet.
Given the conflicting nature of the chatter on social media, chat forums, groups, and comment sections, the event, the timing, the exact nature of said event is unpredictable and could have widespread and severe consequences, which is one of the definitions of a "Black Swan Event."
Recommendation: Get cash out of the bank now. We are not suggesting anyone take all their money out of the bank, bills must be paid and many now use an online method connect to their banks to pay those bills, so it would be reckless to suggest withdrawing everything.
We, in fact no one, wants to see a run on banks, that would make matters worse. Get some today, a little tomorrow, and so on until you have enough where you feel comfortable that you have enough to push through a crisis if need be.
BOTTOM LINE
When so many red flags start appearing in the news, especially when the MSM is fighting tooth and nail to insulate the Biden regime from the consequences of their actions, but now are forced to acknowledge the dangers facing us, then it is time to prepare for the worse and hope for the best.
Once again, my reminder: If you are as prepared as possible, then there is nothing to fear.
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