(Michael Snyder) There should no longer be any doubt that the U.S. economy is slowing down, but most Americans still don’t realize what is happening because the major news networks are completely focused on the endless impeachment drama that is currently playing out in Washington.
Economy
The Working Poor: 50 Percent Of American Workers Make Less Than 33,000 Dollars A Year
(Michael Snyder) The truth is that most American families are deeply struggling, but you hardly ever hear this from the mainstream media. Yes, about 10 percent of all American workers are making $100,000 or more a year, but most of those high paying jobs are concentrated in the major cities along the east and west coasts.
Corruption EXPOSED: Shell Oil Corporation Burning Gas For Months Because They Can’t Sell It
(John Vibes) The Shell oil corporation is burning off large volumes of ethane because they can’t sell it to their regular customer, which is a plant on the same property owned by ExxonMobil. The location is officially known as “Mossmorran,” and is used by numerous oil and gas companies. Residents near the property where the ethane is burning are complaining of pollution, light, and noise coming from the site.
Paul Craig Roberts: “Oligarchs Will Crash The System To Boot Trump”
(Greg Hunter) Economic expert and award winning journalist Dr. Paul Craig Roberts predicts that the oligarchs of the New World Order (NWO) will do anything to boot President Trump out of office.
Democrat Debate ‘Desiderata’: Kamala Klowns, Biden Battered, Bernie Bounces Back
(Zero Hedge) Last night’s Democratic Party presidential nominee debate in Ohio – amid a biggest-ever-on-the-same-stage gaggle of twelve nattering naybobs clamoring for attention – reminded us of Max Ehrmann’s 1920s prose poem ‘Desiderata’ about life being a struggle at times.
America’s Financial Suicide: The Budget Deficit Rises 26% In 1 Year As Federal Spending Spirals Wildly Out Of Control
(Michael Snyder) We are in the process of committing national financial suicide, and most Americans don’t seem to care. As you will see below, the federal budget deficit for the fiscal year that ended on September 30th was the largest in 7 years. In fact, it was actually 26 percent larger than last year. Federal spending is wildly out of control, and “non-discretionary spending” is projected to go through the roof in the years ahead.
China’s Secret Weapon for Killing off the US Dollar’s Global Reserve Status
(Geopolitics) There is a strong current of change affecting the international political arena. It is the beginning of a revolution brought on by the transition from a unipolar to multipolar world order.
Peter Schiff: The Party Is Over — The Great Recession Looms
(Zero Hedge) As Peter Schiff put it in his podcast, if the first trading day of the fourth quarter was a sign of things to come, bulls on Wall Street are in for a rough end to the year. In fact, Peter said the party is over and you don’t want to be the last one to leave.
Billionaire Who Promised To Pay Off College Students’ Debt Is Tackling Their Parents’ Debt, Too
(Mandy Froelich) Good news! In May of this year, multi-billionaire and philanthropist Robert F. Smith.pledged to pay off the student loan debt of an entire graduating class. Now, he’s intent on paying off the debt of the students’ parents, as well!
How Useful is the “Unemployment Rate”? Five Humans Who Don’t “Count”
(Laura Williams) The official “unemployment rate” in the US is nearing historic lows, according to a recent announcement. For young readers, especially, this may come as a surprise. You may see your friends and family struggling to find enough well-paying work to make ends meet, and you may have personally experienced the frustration of wanting a job but not finding one.
Retail Apocalypse’ Continues: Forever 21 Files For Bankruptcy, 30,000 Jobs At Risk
(Zero Hedge) Following reports earlier this month that a bankruptcy for the fast-fashion pioneer was imminent, Forever 21 filed for Chapter 11 protection in Delaware Sunday night, becoming the latest brick-and-mortar retailer to succumb to the Amazon-driven ‘retail apocalypse’, Bloomberg reports.
Debt Bombs: Here Are The States With The Most Debt
(Zero Hedge) According to a new report from Truth in Accounting, the most-indebted states include New Jersey, Illinois, Connecticut, Massachusetts, Hawaii, Delaware, Kentucky, California, and New York.
Economist: If Donald Trump Is Impeached, You Should Expect The Mother Of All Stock Market Crashes To Happen
(Michael Snyder) News that an impeachment inquiry is being initiated instantly sent stock prices tumbling on Tuesday, but that small jolt is nothing compared to what we will experience if Donald Trump is actually impeached. Over the past couple of years we have seen a tremendous boom in stock prices, and one of the big reasons for that boom is the fact that the folks on Wall Street know that Trump is always going to be looking out for their best interests.
The Latest Numbers Tell Us That The Global Economic Slowdown Is Accelerating Dramatically
(Michael Snyder) Economists are already predicting “the world’s lowest growth in a decade”, but it is beginning to look like what we will be facing will be much worse than that. In recent days, numbers have been coming in from all over the planet that are absolutely abysmal.
Trump Impeachment Odds Soar On Heavy Volume
(Zero Hedge) PredictIt odds of President Trump’s impeachment by the end of his first term have soared in the last 12 hours in heavy volume.