Saturday, September 3, 2022

What Would You Do If You Had To Go Through The Economic Horrors Of 2008 Again? (Spoiler Alert: The Next Economic Crisis Has Already Begun)

 What Would You Do If You Had To Go Through The Economic Horrors Of 2008 Again? (Spoiler Alert: The Next Economic Crisis Has Already Begun)

August 31, 2022 by Michael Snyder

If you knew for certain that we were about to plunge into another massive economic downturn like we experienced during the “Great Recession”, how would you respond?  The events of the second half of 2008 took almost everyone by surprise, and the vast majority of the population was completely unprepared for what happened next.  Millions of Americans lost their jobs, and that meant that they were suddenly unable to pay their bills.  Countless households got behind on their mortgages and rent payments, and we witnessed a dramatic spike in foreclosures and evictions.  I wish that we would never have to see such suffering again, but unfortunately it is already starting to happen right in front of our eyes.

The Biden administration keeps insisting that the U.S. economy is in good condition, but if that is the case why are so many large companies now laying off workers?

On Wednesday, we learned that Snap Inc. will be laying off approximately 20 percent of their entire global workforce…

Snap Inc., the parent company of the popular app Snapchat, announced plans to lay off some 20% of its more than 6,400 global employees.

The news will impact the jobs of more than 1,200 staffers at the tech giant, and comes as broader economic conditions have deteriorated in recent months amid rising inflation and the Federal Reserve’s interest rates hikes. The recent market downturn has especially pummeled the tech sector, where news of hiring freezes, layoffs, and other cost-cutting measures have dominated headlines for months.

Of course it isn’t just the tech industry that is getting monkey-hammered these days.

It was also just announced that Bed Bath & Beyond will be permanently closing 150 stories and will be getting rid of about 20 percent of their corporate employees…

Bed Bath & Beyond is in deep turmoil. The company is trying to rescue itself and stay out of bankruptcy by shrinking.

The chain said Wednesday that it will lay off approximately 20% of corporate employees, close around 150 stores and slash several of its in-house home goods’ brands.

Crucially, the company also said it secured more than $500 million in financing to shore up its ailing financial straits.

Normally, retailers wait until after the lucrative holiday season before announcing store closings.

So this move seems highly unusual.

Sadly, this is all part of a “layoff tsunami” that has now started.  As I discussed the other day, approximately half of all U.S. companies anticipate that they will be eliminating jobs over the next 12 months.

Needless to say, a “tsunami of layoffs” is only going to accelerate the new housing crash that we are now witnessing.

Last week, total mortgage application volume was 63 percent lower than it was during the same week in 2021…

After falling back earlier this month, mortgage rates began rising sharply again to the highest level since mid-July. That caused mortgage demand to pull back even further.

Total mortgage application volume fell 3.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 63% lower than the same week one year ago.

63 percent!

What a catastrophe.

And many other recent numbers confirm the fact that we are now past the peak of the housing bubble and are now on the way down…

Sales volume of existing homes plunged by 20% from a year ago across the US, and by 31% in California, and by 41% in San Diego. Median prices in the West have begun to drop, and in the San Francisco Bay Area fell below year-ago-levels, including by 8% in San Francisco. Sales of new houses plunged by nearly 30% year-over-year across the US, and in the West by 50%, as the supply of new houses has exploded to 11 months, the highest since the peak of Housing Bust 1. And big institutional buyers have started to pull out of this market because they don’t want to overpay. This has been going on for months.

Home prices have only just begun to drop.

They could potentially go down a lot further, because soaring mortgage rates have put home ownership out of reach for a huge chunk of the population at this point.

What we really need is for the Federal Reserve to stop hiking interest rates.

But Fed officials have already told us that they aren’t going to do that.

So the housing crash that we are currently experiencing is only going to get worse.

Meanwhile, an increasing number of renters are getting behind on their rent payments.  In fact, it is being reported that 3.8 million renters believe that it is likely that they will be evicted within the next two months…

For the first time ever, the median rent in the U.S. topped $2,000 a month in June — and the increases show no sign of stopping.

Those rising rents mean that households representing a total of 8.5 million people were behind on their rent at the end of August, according to Census Bureau figures. And 3.8 million of those renters say they’re somewhat or very likely to be evicted in the next two months.

If things are this bad already, what will conditions look like once millions more Americans have lost their jobs?

Just like we saw in 2008, huge numbers of evictions and foreclosures are on the horizon, and the middle class is going to be absolutely eviscerated by this crisis.

Last time around, the Fed was able to reduce the severity of the crisis by pushing interest rates to the floor and by pumping trillions of fresh dollars into the financial system.

This time around they are unlikely to implement such measures because they are deathly afraid of causing even more inflation.

So the stage is set for an economic meltdown of absolutely epic proportions, and there is no hero that is going to come riding to the rescue.

We are about to experience the consequences of literally decades of exceedingly foolish decisions.

Enjoy the rest of the summer while you still can, because the U.S. economy is only going to go downhill from here.

***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com.  In addition to my new book I have written five other books that are available on Amazon.com including  “Lost Prophecies Of The Future Of America”“The Beginning Of The End”“Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned)  When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending digital copies as gifts through Amazon to family and friends.  Time is short, and I need help getting these warnings into the hands of as many people as possible.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  These are such troubled times, and people need hope.  John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.”  If you have not already done so, I strongly urge you to ask Jesus to be your Lord and Savior today.

Joshua Aaron & Carolyn Hyde | Keep the Fire Alive

 

Steve Martin

STEVE & LAURIE MARTIN - LOVE FOR HIS PEOPLE FOUNDERS My good wife Laurie and I (45 years in October 2022!), through the ministry of Love For His People we founded in 2010, give love and support for our friends in Israel and in other nations with friendship, humanitarian aid, and social media support, along with Steve's messages, and our Ahava Adventures trips to Israel. Steve has also authored and published 34 books. We live in the Charlotte, NC area. We have four adult children, spouses, and eight grandkids.

Thursday, August 25, 2022

SILENCE IS NOT GOLDEN by Steve Martin. FREE KINDLE version Thursday, Aug. 25, 2022, to Sunday, Aug. 28, 2022

 

SILENCE IS NOT GOLDEN by Steve Martin. FREE KINDLE version Thursday, Aug. 25, 2022, to Sunday, Aug. 28, 2022

Paperback is also available for $9.95, and Hard cover for only $14.95


Messages
 News Now Think On This Steve Martin Messages – Time To Act USA News 

   Steve Martin  0 Comments boldnesscourageinspirationIsraelJesus ChristJewsSilence is not GoldenSteve Martin bookEdit

Aug. 25, 2022 Love For His People Ministry in Charlotte, NC, 2022

Between Thursday, August 25, 2022, 12:00 AM PDT through Sunday, August 28, 2022, 11:59 PM PDT you can get the e-book, Kindle version, FREE. This can easily be downloaded to any computer or phone. No Kindle app is needed.

CLICK HERE FOR FREE KINDLE VERSION: SILENCE IS NOT GOLDEN

https://read.amazon.com/kp/card?preview=inline&linkCode=kpd&ref_=k4w_oembed_nyy2M2jagaiYIl&asin=B0BBBDZN8T&tag=kpembed-20FREE Thursday, August 25, 2022, 12:00 AM PDT
to Sunday, August 28, 2022, 11:59 PM PDT

There was a song popular in 1967 entitled, “Silence Is Golden” by The Tremeloes. They were a British band sharing their songs there and in the USA.

But that was then. This is now. We are not to be silent when our voices and courage are to be loud and strong.

As believers in the Lord Jesus Christ, we are called to speak His Word, share His love, and do that which He has commissioned and ordained us to do. That means speaking up.

SILENCE IS NOT GOLDEN are messages to inspire and encourage you to speak, write, go, and do that which the Lord has put in your heart to do. We must do it now, or it will be too late.

It is our moment to shine. It is our time, given to us by the Lord Jesus Christ, to take His love, His life, to a needing and dying world. His sacrifice on the cross, His death, His resurrection, had brought Him to this earth to save the nations. Not one. Not two. But all. And He has called us to let the world know.

Do not be silent, for silence is not golden.

Through the Jewish people, whom He chose to express His eternal love, He has shown that He is able to deliver what He has promised and will fulfill all that He has yet to finish. Just look at Israel and the return of the Jews after centuries. It is all in the prophetic Scriptures.

This book is to encourage you to speak up, stand up, be the one whom the Lord has called, appointed, and anointed you to be.

As it was in a popular commercial years ago, before the “wokeness” and “cancel culture” overwhelmed the people with its godless agenda, the USA Armed Services had the statement, “Be all you can be.”

My word to you is, “Be all He has called you to be!”

With this, I hope you read the inspired words the Holy Spirit has given me, and for those not quite into “reading” – enjoy the many photos and images I include!

Steve Martin

P.S. The book includes 92 photos and images!

ALSO AVAILABLE IN PAPERBACK AND HARDBACK

Click here: Hardback version: $14.95
Click here: Paperback version $9.95

Steve Martin

STEVE & LAURIE MARTIN – LOVE FOR HIS PEOPLE FOUNDERS My good wife Laurie and I (45 years in October 2022!), through the ministry of Love For His People we founded in 2010, give love and support for our friends in Israel and in other nations with friendship, humanitarian aid, and social media support, along with Steve’s messages, and our Ahava Adventures trips to Israel. Steve has also authored and published 35 books. We live in the Charlotte, NC area. We have four adult children, spouses, and eight grandkids.

Steve Martin

STEVE & LAURIE MARTIN - LOVE FOR HIS PEOPLE FOUNDERS My good wife Laurie and I (45 years in October 2022!), through the ministry of Love For His People we founded in 2010, give love and support for our friends in Israel and in other nations with friendship, humanitarian aid, and social media support, along with Steve's messages, and our Ahava Adventures trips to Israel. Steve has also authored and published 34 books. We live in the Charlotte, NC area. We have four adult children, spouses, and eight grandkids.

GOD, SATAN & MUSIC | The Purpose & Philosophy of WORSHIP – Steve Cioccolanti & Discover Ministries

 

GOD, SATAN & MUSIC | The Purpose & Philosophy of WORSHIP – Steve Cioccolanti & Discover Ministries

Aug. 25, 2022 Steve Cioccolanti & Discover Ministries 328K subscribers

Pastor Steve Cioccolanti’s short commentary on #Satan#God and the powerful purpose of music. Re-discover the #joy of music!

Help our Goshen FUNDRAISER http://www.discover.org.au/goshen 🇸🇦 Register for the Saudi Arabia Tour: https://livingpassages.com/product/sa… ▶️ Watch the rest of this video including practical prepping & support the ministry: https://vimeo.com/ondemand/apocalypse…

Wednesday, August 17, 2022

“Bless Israel and He will bless you” – Ahava Moments With You, Steve Martin, David Peterman

 

“Bless Israel and He will bless you” – Ahava Moments With You, Steve Martin, David Peterman

Aug. 17, 2022 Love For His People Ministry, Steve Martin 2.09K subscribers

“Bless Israel and He will bless you” – Ahava Moments With You, Steve Martin, David Peterman The Bible says in Gen. 12:3 that those who bless Israel will be blessed. It is a true word!

You can order Steve Martin’s new book, “Encouragement” on Amazon – hardback, paperback, and Kindle versions.

Look here: https://smile.amazon.com/Encouragemen…

Videos filmed and shared by Steve Martin, Founder, Love For His People Ministry in Charlotte, North Carolina, USA.

Steve Martin

STEVE & LAURIE MARTIN - LOVE FOR HIS PEOPLE FOUNDERS My good wife Laurie and I (45 years in October 2022!), through the ministry of Love For His People we founded in 2010, give love and support for our friends in Israel and in other nations with friendship, humanitarian aid, and social media support, along with Steve's messages, and our Ahava Adventures trips to Israel. Steve has also authored and published 34 books. We live in the Charlotte, NC area. We have four adult children, spouses, and eight grandkids.