More Than 100 Are Dead As The Worst Flu Epidemic In Years Sweeps Across The United States - Michael Snyder THE ECONOMIC COLLAPSE BLOG

More Than 100 Are Dead As The Worst Flu Epidemic In Years Sweeps Across The United States Posted: 14 Jan 2018 Michael Snyder  THE ECONOMIC COLLAPSE BLOG This flu season is already off to a record-setting beginning, and many believe that it could ultimately be the worst that we have seen in decades.  In fact, it has been reported that if we stay on this current pace that this could truly be the worst flu season in more than 50 years.   As you will see below, the CDC is reporting widespread flu activity from coast to coast, and the death toll has already crossed 100.  Here in the United States, flu season usually begins in October and ends in May, and so we still have a long way to go before it is over. Normally the mainstream media tries very hard to keep the public calm about these things, but even the Washington Post admits that we are having “a terrible, horrible, no good, very bad flu season”… The nation is having a terrible, horrible, no good, very bad flu season. Flu is widespread in 46 states, according to reports to the Centers for Disease Control and Prevention. Nationally, as of mid-December, at least 106 people had died of the infectious disease. Usually a flu outbreak is centered in one portion of the country, but this one is different.  According to the CDC, this outbreak is affecting the entire nation, and the number of cases climbed another 5.8 percent within the past week… “Flu is everywhere in the US right now,” said Dr. Dan Jernigan, director of the CDC’s influenza branch. “This is the first year we’ve had the entire continental US at the same level (of flu activity) at the same time.” It has been an early flu season that seems to be peaking now, he said, with a 5.8% increase in laboratory-confirmed cases this week over last. Most people that get the flu don’t die, but it is very important for all of us to understand that this is a very serious outbreak. In California, things have already gotten so bad that some hospitals have started to run out of Tamiflu… California has been particularly hard hit, with at least 27 deaths of people under 65 attributed to the flu, according to reports. As the number of cases continues to climb there, hospitals are beginning to run out of Tamiflu, the anti-viral medication used to treat the illness. If you live in an area where the flu is running rampant, it may be wise to avoid public areas for a while.  Unfortunately, the vast majority of us cannot do that.  Most Americans have work or school commitments that cannot be avoided, and the flu can often spread very rapidly in those environments. Back during the bird flu scare a few years ago, some schools actually closed for a time, and we are starting to see that happen again.  For example, one school down in Texas had a “flu day” on Friday… A school in San Antonio will be closed Friday for a “flu day” amid an outbreak of influenza. “While closed, our school will be launching a Super Clean of each classroom for the health of our faculty, staff and students,” San Antonio Christian School posted on Facebook. Texas has been especially hard-hit by the flu this season, topping Walgreens’ Flu Index, which compiles data from prescriptions used to treat the virus’ symptoms. Every year the authorities relentlessly promote the flu shot, but large numbers of people that got the flu shot this year are getting sick anyway. Sadly, the flu shot is not likely to protect you from the very powerful strains of the flu that are dominant this flu season.  In fact, the experts are telling us that the flu shot was only “around 10 percent” effective during the flu season in Australia this year… U.S. flu specialists say they won’t completely know how powerful this present season’s antibody is until the point that the season is finished. In any case, Australia’s experience recommends viability was just around 10 percent. In the United States, it is 40 to 60 percent powerful in a normal season. Immunizations are less defensive if strains are not the same as anticipated and if sudden transformations happen. Hopefully everyone out there is stocking up on Vitamin C and echinacea.  We still have more than two months of winter left, and the spread of the flu appears to be accelerating. If you do get sick, please stay home and don’t expose others.  Many of us like to try to battle through an illness, and in the process we can inadvertently share it with others. Eventually this flu epidemic will pass, but for now we need to be smart as we weather this storm. Michael Snyder is a pro-Trump candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.

It Is Being Reported That Donald Trump May Recognize Jerusalem As The Capital Of Israel In December - Michael Snyder THE ECONOMIC COLLAPSE BLOG

It Is Being Reported That Donald Trump May Recognize Jerusalem As The Capital Of Israel In December Posted: 01 Dec 2017 Michael Snyder  THE ECONOMIC COLLAPSE BLOG Is President Trump about to recognize Jerusalem as the capital of Israel?   If so, this would be one of the most historic events to happen in the Middle East in a very long time.   Needless to say, the government of Israel would be absolutely thrilled by such a move, while the Palestinians and Israel’s neighbors would not be pleased at all.  In fact, some Palestinians have suggested that if the Trump administration actually moves the U.S. embassy to Jerusalem that it could spark widespread violence or even war. But Donald Trump promised that he would recognize Jerusalem as the capital of Israel during the campaign, and it looks like he intends to keep his word… A senior U.S. administration official said on Thursday that President Donald Trump is considering recognizing Jerusalem as the capital of the State of Israel without moving the embassy to the Israeli capital, at least for the time being. Trump wants the recognition of Jerusalem to be a gift to Israel on the occasion of its 70th Independence Day, and he may even announce this recognition by means of a statement to be made by Vice President Mike Pence, who will visit Israel in December. Pence will be visiting Israel this month, and he is scheduled to deliver an address to the Knesset.  If the Trump administration is going to recognize Jerusalem as the capital of Israel, it is believed that it may happen at that time. Israel became a nation in 1948, and so 2018 will be Israel’s 70th anniversary.  There will be independence celebrations throughout the year, and recognizing Jerusalem as Israel’s capital as we approach this highly significant time would be considered a great gift to the Jewish people. For the moment, however, the Trump administration will not be moving the U.S. embassy to Jerusalem.  The White House recognizes that such a move could spark violence in the region, and so administration officials are treading carefully… President Donald Trump and his senior aides are mulling a plan to eventually move the U.S. Embassy in Israel from Tel Aviv to Jerusalem, a decision that could derail Trump’s attempts to restart peace talks between the Israelis and the Palestinians. A leading option under consideration: temporarily keeping the U.S. embassy in Tel Aviv while also outlining a longer-term strategy to begin the process of moving the embassy to Jerusalem, according to two administration officials. The plan is meant to strike a middle ground on the politically treacherous issue. We shall see how this plays out, but Vice-President Mike Pence sure sounds optimistic that moving the embassy will actually happen.  Earlier this week, he posted the following message on Twitter… While for the past 20 years, Congress and successive administrations have expressed a willingness to move our embassy, @POTUS Trump is actively considering when and how to move the American Embassy in Israel from Tel Aviv to Jerusalem. #70toIsraelUN Of course moving the embassy would have very serious ramifications, and without a doubt many those surrounding Trump are advising against such a move… American intelligence circles may caution Trump against the move, warning of the security-related ramifications that could ensue and danger that it could pose to American embassies around the world. Rumors of Trump’s planned announcement were met with warnings from Jordan’s King Abdullah II, who said during a visit to the US that “the transfer of the American embassy to Jerusalem at this stage will have repercussions in the Palestinian, Arab and Islamic scene.” I will be even more blunt.  If the U.S. embassy is moved to Jerusalem, there will definitely be violence, and it could potentially move us closer to armed conflict in the Middle East. But U.S. policy should never be dictated by threats of violence.  Moving the U.S. embassy to Jerusalem is the right thing to do, and we cannot allow anyone to intimidate us.  In 1995, Congress passed a law that requires the U.S. embassy to be moved to Jerusalem, but ever since then presidents have used “waivers” to delay the move. The current “waiver” expires on December 1st, and Trump is expected to sign another one at that time. But even if the U.S. embassy is not moved to Jerusalem any time soon, the truth is that the next major war in the Middle East seems to be getting closer with each passing day.  Just check out some of the things that have happened over the past week… -Saudi Arabia just intercepted another ballistic missile that was fired from Yemen.  The civil war in Yemen is essentially a proxy war between Saudi Arabia and Iran, and the Saudis hold the Iranians directly responsible whenever a missile is fired toward their territory. -China has announced that they will be sending “elite troops” into Syria to fight alongside the Syrian army in the ongoing civil war that is raging there. -Just a few days ago, the Pentagon acknowledged that there are approximately 2,000 U.S. troops currently in Syria working with forces that would like to overthrow the Syrian government. The Middle East is a tinderbox that could literally erupt at any moment.  Most Americans have absolutely no idea how close we are to a major regional war, and let us pray that one does not happen any time soon. Michael Snyder is a Republican candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.

Hurricane Irma Is Being Called ‘A Lawnmower From The Sky’ And FEMA Warns It Will ‘Devastate’ The Southeast - Michael Snyder THE ECONOMIC COLLAPSE BLOG

Hurricane Irma Is Being Called ‘A Lawnmower From The Sky’ And FEMA Warns It Will ‘Devastate’ The Southeast

Posted: 08 Sep 2017  Michael Snyder  THE ECONOMIC COLLAPSE BLOG

It looks like Hurricane Irma is going to make landfall in south Florida on Sunday morning.  Of course that could still change, but this is what the meteorologists are telling us at this point.  But of course the exact spot where Irma makes landfall is not so important because of the absolutely immense size of this storm.  Irma is going to cause chaos and devastation over a very large area, and just like Hurricane Harvey the recovery from this storm is literally going to be measured in years.

Down in the Caribbean, the destruction that Irma has caused has been absolutely unprecedented.  The president of the island of Saint Martin “estimated that 95 percent of his country had been obliterated”, and one resident of the island described the storm as “a lawnmower from the sky”…

Witnesses described similar scenes on the island’s Dutch half. “It’s like someone with a lawnmower from the sky has gone over the island,” said Mairlou Rohan, a European tourist visiting Sint Maarten, part of the Netherlands.

That is not the sort of terminology that I would use, but without a doubt the devastation caused by this storm has been off the charts.

On Barbuda, at least 90 percent of the buildings have been destroyed…

Gaston Browne, the prime minister of Antigua and Barbuda, said Barbuda was “totally demolished,” with 90% of its buildings destroyed. Communication with the island was cut off because of the destruction. As Hurricane Jose approaches the island, Barbuda officials are trying to evacuate the entire population of 1,800.

Now the storm is heading straight for south Florida, and FEMA is using apocalyptic language to describe what might happen…

FEMA Director Brock Long, in a Friday morning update, told a news conference there’s no question that Hurricane Irma will devastate parts of the souheastern United States:
“Obviously, Hurricane Irma continues to be a threat that is going to devastate the United States in either Florida or some of the southeastern states,” Long told a 7:30 a.m. news conference.

Some are comparing Hurricane Irma to Hurricane Andrew, but the truth is that Irma is much, much larger.  You can see a comparison of the two storms right here.

At this point, scientists are running out of superlatives to describe this storm.  At the National Hurricane Center, one expert is already labeling Irma as “the most infamous in Atlantic hurricane history”…

“Irma has me sick to my stomach,” said Eric Blake, a scientist with the National Hurricane Center, on his personal Twitter account on Thursday evening. “This hurricane is as serious as any I have seen. No hype, just the hard facts. Take every lifesaving precaution you can.”
“I have little doubt Irma will go down as one of the most infamous in Atlantic hurricane history,”he added.

We shall see what happens over the next few days.

Hopefully things will not be quite as bad as the experts are projecting.

At this hour, thousands upon thousands of Florida residents are desperately trying to flee north on the highways.  Unfortunately, a lot of gas stations are already completely out of gasoline, and it is getting worse by the hour.  Just check out these numbers…

In Gainesville, it was the worst: At least 58% of stations were out of gasoline as of Friday morning, according to GasBuddy’s fuel tracker.

More than 40% of stations in West Palm Beach and Miami had no fuel, while 38% of Fort Myers-Naples stations, nearly 35% of Tampa-St. Petersburg locations and more than 32% of Orlando stations were offline.

At the stations where gasoline is still available, some people are having to wait up to 90 mins for fuel.

Of course there are others that are not planning to leave Florida at all.  In fact, 82-year-old Joseph “Tony” Vincent told the Washington Post that he is quite content to ride the storm out at a local hotel…

“Hell, you’d be safer here than taking a car on those roads. You might be killed before you get to Atlanta,” he scoffed.
If Irma fizzles, Vincent said he’ll just ride his three wheeler back to his trailer. “I’ll come on home and get drinker than hell,” he said.

Hopefully he will be okay.

The warnings have been issued, and I don’t think that they could have been much stronger.  People have made their decisions about what they are going to do, and now we will see how things play out.

On another note, I had to smile today when I came across a Think Progress article entitled “The case for a Category 6 rating for super-hurricanes like Irma”.  I have been heavily criticized for saying the exact same thing that the liberal media is now talking very heavily about, but of course those outlets will not receive the same sort of criticism that I did.

In the end, the main thing is keeping people safe, and if anyone in the direct path of this storm still feels like they want to “ride it out”, I would very much encourage you to flee while you still can.

This is an exceedingly dangerous storm, and you do not want to be there when it hits.
Michael Snyder is a Republican candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.

10 Very Strange Facts About The August 21 Solar Eclipse That Will Absolutely Blow Your Mind - Michael Snyder THE ECONOMIC COLLAPSE BLOG

10 Very Strange Facts About The August 21 Solar Eclipse That Will Absolutely Blow Your Mind

Posted: 13 Aug 2017  Michael Snyder  THE ECONOMIC COLLAPSE BLOG

In just a matter of days we are going to witness the most unusual solar eclipse in U.S. history. Could it be possible that all of the very strange “coincidences” surrounding this event have some sort of special significance?  The mainstream media has been buzzing about this upcoming solar eclipse for months, and it will easily be the most watched eclipse in all of U.S. history.

Last week, I published an article entitled “12 Critical Events That Are Going To Happen Over A 40 Day Period From August 21st To September 30th” that received an extraordinary amount of attention, and of course the first event on that list was “the Great American Eclipse” on the 21st.  As you will see below, so many numbers seem to indicate that this eclipse could have some sort of special significance, and it begins a period of exactly 40 days that many believe could be a turning point for America.

In the Scriptures, we are specifically told that one of the reasons why God created the sun and the moon was so that they could serve as “signs”.  The following is what Genesis 1:14 tells us…

“And God said, Let there be lights in the firmament of the heaven to divide the day from the night; and let them be for signs, and for seasons, and for days, and years“

And in Luke 21:25, the Lord Jesus specifically warned us to watch for signs “in the sun, and in the moon, and in the stars” just prior to His return.

So we should be watching, and we should fully expect to see something happen up there before Christ comes back.

With that in mind, I would like to share some amazing facts about the solar eclipse on August 21st with you.  These were originally compiled by The Countdown Report, and when I first read them they definitely got my attention…

-First contact is in the state of Oregon, the 33rd state in the USA. The last contact is in South Carolina on the 33rd parallel. This eclipse happens on day 233 of the year.

If the Revelation 12 sign is valid, then the eclipse is also 33 days before September 23, 2017. Jesus is thought to have been 33 when He died.

-Just for fun: It is 99 years (3 x 33) since the last eclipse to go coast-to-coast in the US, in 1918. From September 23, 2017 (Revelation 12 sign) to the end of the year, December 31, 2017 is 99 days (or 3 x 33). The number of days from the 1918 eclipse to the August 21 eclipse are 26,234 days. (2+6+2+3+4 = 17; 2017?). From August 12, 2017, the date of the Charlottesville Virginia “State of Emergency” declared to the August 21, 2017 Great Solar Eclipse is 9 days (3+3+3) and the dates are also mirrored – 12 and 21.

-First big city the eclipse hits in Oregon is Salem – Salem was named after Jerusalem. The eclipse also begins in Oregon exactly at sunset time in Jerusalem. So technically speaking, as the sun sets in America it will be setting in Jerusalem at the same time.

-The center line crosses through 12 primary states to receive total darkness. 12 disciples, 12 months in a year, the meaning of 12, which is considered a perfect number, is that it symbolizes God’s power and authority, as well as serving as a perfect governmental foundation.

-The eclipse path is exactly 70 miles wide. 70 has a sacred meaning in the Bible that has two perfect numbers, 7 that represents perfection and 10 that represents completeness and God’s law. 70 also symbolizes perfect spiritual order and a period of judgment. 70 is also specially connected with Jerusalem with so many references it would take a book to write.

-Another eclipse comes in 2024, 7 years after the August 21, 2017 and marks an X over the United States. The combined time of totality of these eclipses together will be 7 minutes. The day of the eclipse is August 21, 2017 – (7 + 7 + 7 = 21). The exact point where the two eclipses cross is right next to Cedar Lake in Illinois… specifically right next to SALEM Road. (Salem again!)

-The original form of the Hebrew letter Tav is like the English letter X or T – which is in the shape of a cross, or X– like the X that is made by the two solar eclipses on the cross paths over 7 years. The letter Tav means “a sign”.

-The path of the eclipse will be situated in such a way that every single state of the US will experience it, even Hawaii and Alaska.

-The totality will reach Oregon at 10:16 AM Pacific, and will end in South Carolina at 2:49 PM Eastern. That means it will take 1 hour and 33 minutes to cross the country. There is that 33 again.

-The eclipse is also exactly 40 days from Yom Kippur. Yom Kippur means “Day of Atonement” and is a time of repentance. While the eclipse day itself may come and go with everything remaining “normal” afterwards, we need to be focused on what could be coming soon after.

You can read the entire list of 33 facts that were compiled by The Countdown Report right here.  I just pulled out the ten that I considered to be the most remarkable.

According to Rachel Baxter, “40 is the number for waiting, preparation, testing or punishment. It is also the number to start a new chapter of the history of salvation”, and we see the number 40 pop up time after time in the Bible.

For instance, in Jonah 3:4 the prophet Jonah gave Ninevah a period of 40 days to repent before judgment would begin…

And Jonah began to enter into the city a day’s journey, and he cried, and said, Yet forty days, and Nineveh shall be overthrown.

Could this coming 40 day time period have some sort of special significance for us?
Like I said in my previous article, I don’t know if all of this means anything.

But Jesus did specifically instruct us to watch for signs in the sun and the moon, and the solar eclipse on August 21st involves both the sun and the moon.

On August 21st, I am going to be able to travel into the path of this eclipse.  Hopefully it will be a very clear day and I will be able to get some very clear pictures for my readers.
I don’t expect anything world shattering to take place on that particular day, but like millions of other Americans, I will definitely be looking up into the sky to see what happens…

Michael Snyder is a Republican candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.

The Worst Financial Nightmare In Illinois History Erupts As State Comptroller Declares ‘We Are In Massive Crisis Mode’ Posted: 18 Jun 2017 Michael Snyder THE ECONOMIC COLLAPSE

The Worst Financial Nightmare In Illinois History Erupts As State Comptroller Declares ‘We Are In Massive Crisis Mode’

Posted: 18 Jun 2017  Michael Snyder  THE ECONOMIC COLLAPSE

Margaret Thatcher once said that the big problem with socialist governments is that “they always run out of other people’s money”, and unfortunately we are witnessing this play out in a major way in the state of Illinois right now.  At this point, the Illinois state government has more than 15 billion dollars of unpaid bills. 

Yes, you read that correctly.  They are already 15 billion dollars behind on their bills, and they are on pace to take in 6 billion dollars less than they are scheduled to spend in 2017.  It is the worst financial crisis in the history of Illinois, and State Comptroller Susana Mendoza sounds like she is about ready to tear her hair out in frustration…

“I don’t know what part of ‘We are in massive crisis mode’ the General Assembly and the governor don’t understand. This is not a false alarm,” said Mendoza, a Chicago Democrat. “The magic tricks run out after a while, and that’s where we’re at.”
It’s a new low, even for a state that’s seen its financial situation grow increasingly desperate amid a standoff between the Democrat-led Legislature and Republican Gov. Bruce Rauner. Illinois already has $15 billion in overdue bills and the lowest credit rating of any state, and some ratings agencies have warned they will downgrade the rating to “junk” if there’s no budget before the next fiscal year begins July 1.

Would you continue to do work for the Illinois state government if you knew that they were this far behind on their bills and that it is doubtful that you would be paid any time in the foreseeable future?

Of course the answer to that question is quite obvious.  As contractual relationships break down, social services are starting to suffer, and there is not much hope that things will take a turn for the better any time soon.

At this point things have gotten so bad that the Illinois Department of Transportation is planning to cease all roadwork starting on July 1st, and even the Powerball lottery is threatening to cut all ties with the state…

As reported previously, the state Transportation Department said it would stop roadwork by July 1 if Illinois entered its third consecutive fiscal year without a budget – the longest such stretch of any US state – while the Powerball lottery said it may be forced to dump Illinois over its lack of budget. For now, state workers have continued to receive pay because of court orders, but school districts, colleges and medical and social service providers are under increasing strain.

So what has caused this unprecedented crisis?

At the core, the problem is political.  A tense standoff between a Republican governor and a Democratic legislature has resulted in the state going 700 days without a budget…

On May 31, Illinois will have gone 700 days without a budget, an unprecedented political failure. Also on May 31, if a budget is not passed, it could mean that the state could go until 2019—an unimaginable idea, except that senators have already imagined it.
How does a state, led by a successful businessman as governor, a brilliant political strategist in the House, and a consummate dealmaker in the Senate, end up in this kind of political disorganization? Bad political errors led to bad political incentives, and as the problem worsened, so did the political risk of solutions—and what politicians had to ask of their constituents.

This is another example of how deeply divided we are as a nation right now.  Democrats hate Republicans and Republicans hate Democrats, and it is getting to the point where the two parties cannot work together on even the most basic things.

In the end, the state of Illinois is either going to have to cut spending dramatically, raise taxes substantially or some combination of both.  And since the Democrats have very large majorities in both chambers of the state legislature, I wouldn’t count on spending being cut that much.

This is the thing with big government – it always has a tendency to get even bigger.  And the bigger government gets, the more of our money and the more of our freedom it takes away.
That is why I am a huge advocate of dramatically shrinking the size of government on the federal, state and local levels.  Like Rand Paul has often said, I want a government so small that I can barely see it.

When you let government get out of control, what you end up with is a ravenous beast that has an endless appetite for more of your money.  In Illinois, the money is all gone and the beast is desperately hungry for more.

Sadly, what is happening in Illinois is just the tip of the iceberg.  If stock prices start declining from these massively inflated levels, state pension funds all over America are going to be in crisis mode very rapidly.  And a new recession would greatly accelerate the financial problems of a whole bunch of states that are already dealing with huge budget shortfalls.
Unfortunately, experts all over the country are warning that the next major downturn is coming very quickly.  For example, just consider what Bernard Arnault just told CNBC…

A financial crisis could be just around the corner, according to the chief executive of LVMH, who has described the global economic outlook as “scary”.
“For the economic climate, the present situation is…mid-term scary,” Bernard Arnault told CNBC Thursday.
“I don’t think we will be able to globally avoid a crisis when I see the interest rates so low, when I see the amounts of money flowing into the world, when I see the stock prices which are much too high, I think a bubble is building and this bubble, one day, will explode.”

There is always a price to pay for going into too much debt.

A financial day of reckoning can be delayed for a while, but eventually bad financial decisions are going to catch up with you.  The state of Illinois is learning this lesson in a very harsh manner right now, and the country as a whole is on the exact same path as Illinois.
I am often criticized for endlessly warning about America’s coming day of reckoning, but you can’t pile up the biggest mountain of debt in the history of the world without paying a price.
Just like the state of Illinois, we will pay for decades of exceedingly foolish decisions, and unfortunately this is going to cause severe economic pain throughout our entire society.

2017 Is Going To Be The Worst Retail Apocalypse In U.S. History – More Than 300 Retailers Have Already Filed For Bankruptcy - Michael Snyder THE ECONOMIC COLLAPSE BLOG

2017 Is Going To Be The Worst Retail Apocalypse In U.S. History – More Than 300 Retailers Have Already Filed For Bankruptcy Posted: 13 Jun 2017 Michael Snyder  THE ECONOMIC COLLAPSE BLOG Not even during the worst parts of the last recession did things ever get this bad for the U.S. retail industry.  As you will see in this article, more than 300 retailers have already filed for bankruptcy in 2017, and it is being projected that a staggering 8,640 stores will close in America by the end of this calendar year.   That would shatter the old record by more than 20 percent.  Sadly, our ongoing retail apocalypse appears to only be in the early chapters.  One report recently estimated that up to 25 percent of all shopping malls in the country could shut down by 2022 due to the current woes of the retail industry.  And if the new financial crisis that is already hitting Europe starts spreading over here, the numbers that I just shared with you could ultimately turn out to be a whole lot worse. I knew that a lot of retailers were filing for bankruptcy, but I had no idea that the grand total for this year was already in the hundreds.  According to CNN, the number of retail bankruptcies is now up 31 percent compared to the same time period last year… Bankruptcies continue to pile up in the retail industry. More than 300 retailers have filed for bankruptcy so far this year, according to data from BankruptcyData.com. That’s up 31% from the same time last year. Most of those filings were for small companies — the proverbial Mom & Pop store with a single location. But there are also plenty of household names on the list. Yes, the growth of online retailers such as Amazon is fueling some of this, but the Internet has been around for several decades now. So why are retail store closings and retail bankruptcies surging so dramatically all of a sudden? Just a few days ago, another major victim of the retail apocalypse made headlines all over the nation when it filed for bankruptcy.  At one time Gymboree was absolutely thriving, but now it is in a desperate fight to survive… Children’s clothing chain Gymboree has filed for bankruptcy protection, aiming to slash its debts and close hundreds of stores amid crushing pressure on retailers. Gymboree said it plans to remain in business but will close 375 to 450 of its 1,281 stores in filing for a Chapter 11 bankruptcy reorganization. Gymboree employs more than 11,000 people, including 10,500 hourly workers. And in recent weeks other major retailers that were once very prosperous have also been forced to close stores and lay off staff… This hemorrhaging of retail jobs comes on the heels of last week’s mass layoffs at Hudson Bay Company, where employees from Saks Fifth Avenue and Lord & Taylor were among the 2,000 people laid off. The news of HBC layoffs came on the same day that Ascena, the parent company of brands like Ann Taylor, Lane Bryant, and Dress Barn, told investors it will be closing up to 650 stores (although it did not specify which brands will be affected just yet). Only two weeks ago, affordable luxury brand Michael Kors announced it too would close 125 stores to combat brand overexposure and plummeting sales. In a lot of ways this reminds me of 2007.  The stock market was still performing very well, but the real economy was starting to come apart at the seams. And without a doubt, the real economy is really hurting right now.  According to Business Insider, Moody’s is warning that 22 more major retailers may be forced to declare bankruptcy in the very near future… Twenty-two retailers in Moody’s portfolio are in serious financial trouble that could lead to bankruptcy, according to a Moody’s note published on Wednesday. That’s 16% of the 148 companies in the financial firm’s retail group — eclipsing the level of seriously distressed retail companies that Moody’s reported during the Great Recession. You can find the full list right here.  If this many major retailers are “distressed” now, what are things going to look like once the financial markets start crashing? As thousands of stores close down all across the United States, this is going to put an incredible amount of stress on shopping mall owners.  In order to meet their financial obligations, those mall owners need tenants, but now the number of potential tenants is shrinking rapidly. I have talked about dead malls before, but apparently what we have seen so far is nothing compared to what is coming.  The following comes from CNN… Store closings and even dead malls are nothing new, but things might be about to get a whole lot worse. Between 20% and 25% of American malls will close within five years, according to a new report out this week from Credit Suisse. That kind of plunge would be unprecedented in the nation’s history. I can’t even imagine what this country is going to look like if a quarter of our shopping malls shut down within the next five years.  Already, there are some parts of the U.S. that look like a third world nation. And what is this going to do to employment?  Today, the retail industry employs millions upon millions of Americans, and those jobs could start disappearing very rapidly… The retail sales associate is one of the most popular jobs in the country, with roughly 4.5 million Americans filling the occupation. In May, the US Bureau of Labor Statistics released data that found that 7.5 million retail jobs might be replaced by technology. The World Economic Forum predicts 30 to 50 percent of retail jobs will be gone once struggling companies like Gymboree fully hop on the digital train. MarketWatch found that over the last year, the department store space bled 29,900 jobs, while general merchandising stores cut 15,700 positions. At this rate, one Florida columnist put it soberingly, “Half of all US retail jobs could vanish. Just as ATMs replaced many bank tellers, automated check-out stations are supplanting retail clerks.” At this moment, the number of working age Americans that do not have a job is hovering near a record high.  So being able to at least get a job in the retail industry has been a real lifeline for many Americans, and now that lifeline may be in grave danger. For those running our big corporations, losing these kinds of jobs is not a big deal.  In fact, many corporate executives would be quite happy to replace all of their U.S. employees with technology or with foreign workers. But if the middle class is going to survive, we need an economy that produces good paying jobs.  Unfortunately, even poor paying retail jobs are starting to disappear now, and the future of the middle class is looking bleaker than it ever has before.