Editor’s Note: According to Bible Prophecy a worldwide economic collapse is forecast. When it will happen or any related trigger events are unknown at this time. But reading the facts and figures of the US economy are anything but “booming”. Get ready and prepare yourself spiritually, physically and emotionally. This will come.
“And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. 6- And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.” -Rev 6:5-6 (KJV)
The following article was originally published by Michael Snyder at The Economic Collapse Blog. (Used by permission)
I Dare You To Tell Me The Economy Is “Booming” After Reading This List Of 19 Facts About Our Current Economic Performance
By Michael Snyder on May 2, 2019
After taking an honest look at the facts, I don’t know how anyone can possibly claim that the U.S. economy is “booming”. I really don’t. We hear this sort of rhetoric from the mainstream media all the time, but it doesn’t make any sense. As I discussed yesterday, nobody should be using the term “booming” to describe the state of the U.S. economy until we have a full year when GDP growth is 3 percent or better, and at this point we haven’t had that since the middle of the Bush administration. And as you will see below, the latest numbers are clearly telling us that the U.S. economy is not even moving in the right direction. Economic conditions are getting worse, and they weren’t that great to begin with. According to the calculations that John Williams has made over at shadowstats.com, the U.S. economy is already in a recession, but of course the Federal Reserve will continue to tell us that everything is just fine for as long as they possibly can. Unfortunately for them, they can’t hide the depressingly bad numbers that are coming in from all over the economy, and those numbers are all telling us the same thing.
The following are 19 facts about our current economic performance that should deeply disturb all of us…
#1 In April, U.S. auto sales were down 6.1 percent. That was the worst decline in 8 years.
#2 The number of mortgage applications has fallen for four weeks in a row.
#3 We just witnessed the largest crash in luxury home sales in about 9 years.
#4 Existing home sales have now fallen for 13 months in a row.
#5 In March, total residential construction spending was down 8.4 percent from a year ago.
#6 U.S. manufacturing output was down 1.1 percent during the first quarter of this year.
#7 Farm incomes are falling at the fastest pace since 2016.
#8 Wisconsin dairy farmers are going bankrupt “in record numbers”.
#9 Apple iPhone sales are falling at a “record pace”.
#10 Facebook’s profits have declined for the first time since 2015.
#11 We just learned that CVS will be closing 46 stores.
#12 Office Depot has announced that they will be closing 50 locations.
#13 Overall, U.S. retailers have announced more than 6,000 store closings so far in 2019, and that means we have already surpassed the total for all of last year.
#14 A shocking new study has discovered that 137 million Americans have experienced “medical financial hardship in the past year”.
#15 Credit card charge-offs at U.S. banks have risen to the highest level in nearly 7 years.
#16 Credit card delinquencies have risen to the highest level in almost 8 years.
#17 More than half a million Americans are homeless right now.
#18 Homelessness in New York City is the worst that it has ever been.
#19 Nearly 102 million Americans do not have a job right now. That number is worse than it was at any point during the last recession.
But at least the stock market has been doing well, right?
Actually, the Dow Jones Industrial Average has been down for two days in a row, and investors are getting kind of antsy.
Hopes of a trade deal with China had been propping up stocks in recent weeks, but it looks like negotiations may have hit “an impasse”…
—————– { END OF MICHAEL’S ARTICLE EXCERPT } ————–
Fear God and Flee from Evil!
-BPWatcher, Internet Preacher and Bible Prophecy Watchman
Pray for the peace of Jerusalem – Psa 122:6 (KJV)