What the head of the UN’s World Food Program just said should be making front page headlines all over the globe. Because if what he is claiming is true, we are about to see global food shortages on a scale that is absolutely unprecedented in modern history. Even before COVID-19 arrived, armies of locusts the size of major cities were...
Read moreThis economic downturn is turning out to be far deeper and far more severe than most experts were originally anticipating. More than 22 million Americans have filed claims for unemployment benefits, and economists are telling us that the U.S. economy is contracting at the fastest rate that we have seen since the Second World War. We are already starting to...
Read moreFear of COVID-19 has unleashed economic chaos on a scale that has already surpassed anything that we witnessed during the last recession, and as you will see below, we are now being warned that “the worst is yet to come”. Many Americans are hoping that things can start to return to normal as the U.S. economy “reopens” in the weeks...
Read moreWe have never seen an “employment apocalypse” in the United States like we are witnessing right now, and it is not going to end any time soon. Over the past several days, “coronavirus shutdowns” have officially been extended all over the nation, and the longer these shutdowns last the more jobs our economy is going to lose. And because most...
Read moreCOVID-19 has turned all of our lives upside down, and most people are quite eager for a return to normalcy. But as you will see below, fear of the coronavirus is going to prevent the vast majority of Americans from immediately resuming all of their normal daily activities once the coronavirus restrictions have been lifted. Every day there are more...
Read moreIf you thought that this pandemic would pass quickly and that life in America would soon return to “normal”, I am afraid that you are in for quite a shock. Some of the restrictions currently in place will eventually be lifted, and efforts will be made to get people back to work, but life is still going to be radically...
Read moreIf the U.S. economy remains in shutdown mode for the next several months, we are going to witness layoffs like we have never seen before in U.S. history. Of course what we have already witnessed is difficult to believe. Last week more than 3.2 million Americans filed initial claims for unemployment benefits, and that was more than four times higher...
Read moreIt appears that we are heading into the worst economic downturn of the post-World War II era, and that is going to be true no matter how this coronavirus pandemic ultimately plays out. There are some that believe that this virus will only kill thousands, and there are others that are warning that it could kill millions, but everyone can...
Read moreFear of COVID-19 has fundamentally transformed our entire country in a matter of weeks, and as long as people are afraid of this virus life is definitely not going to return to normal. In fact, every “shelter-in-place” order in America could be lifted tomorrow and economic activity would not rebound even close to previous levels because a large percentage of...
Read moreThe pace at which Americans are losing their jobs is absolutely breathtaking. According to the Wall Street Journal, the largest number of new claims for unemployment benefits ever recorded in a single week prior to this year was 695,000 during the week that ended October 2nd, 1982. So that means that what we are now witnessing is completely unprecedented. About...
Read moreThe biggest public health crisis of our time just continues to get worse. The global death toll is rapidly approaching 20,000, and approximately a third of the world is currently under some sort of a lockdown order. Needless to say, this is going to be absolutely devastating for the entire global economy. Here in the United States, the spread of this virus...
Read moreEveryone that tried to tell us that this pandemic would fade away quickly has been proven dead wrong. Right now, approximately 187 million Americans are under “shelter-in-place” orders as COVID-19 sweeps across the nation like wildfire. There are now more than 43,000 confirmed cases in the U.S., but by the time many of you read this article that number is likely to...
Read moreHow would you feel if you received a bill for more than $34,000 after being tested and treated for the coronavirus? This pandemic is showing the entire world that the U.S. healthcare system is deeply, deeply broken, and there is no way that we can continue to go on like this. If coronavirus testing is quick, inexpensive and widely available...
Read moreJust a few weeks ago everything seemed completely normal to most people, but now fear of the coronavirus has caused U.S. stock prices to absolutely implode. The stock market crash of 2020 will forever be mentioned alongside the crashes of 1929, 1987 and 2008, and by the time it is over it could potentially end up being the largest of...
Read moreAs America slowly but surely shuts down from coast to coast, everyone is acknowledging the fact that we are heading into a very serious economic downturn. Originally, many experts were warning that this coronavirus pandemic could spark a recession, but now some are actually starting to use the “d” word. Yesterday, I wrote about the government planning document that envisions...
Read moreAre you prepared for the nationwide shutdown that is happening now to last for the next 18 months? You may not believe that such a thing will happen, but the federal government apparently does. A 100 page government plan marked “For Official Use Only // Not For Public Distribution or Release” was obtained by the New York Times, and it paints...
Read moreWe are literally witnessing history in the making. For the third time in the last six trading sessions, we have witnessed the largest single day point crash in stock market history. Let that sink in for a moment. On March 9th, the Dow set a new record by falling 2,013 points. Then on March 12th, the Dow set a new...
Read moreFear of the coronavirus is causing shutdowns on a global scale like we have never seen before. Just about every major sporting event that you can think of has been either canceled or postponed, schools and universities are keeping students away, global tourism is absolutely collapsing, churches are being shuttered, conferences and festivals are being taken off the calendar, businesses...
Read moreIt has happened again. On Thursday the Dow Jones Industrial Average fell 2,352 points, which was the largest single day stock market point crash in history. Of course the old record only lasted for three days, because on Monday the Dow dropped 2,013 points. And on Wednesday, we actually witnessed the third largest single day stock market point crash in...
Read moreIn all of U.S. history, we have never seen the Dow Jones Industrial Average go from an all-time high to a bear market as quickly as we just did. As I keep reminding my readers, the stock market is all about how investors view the future. Early this year, extremely irrational optimism about the future pushed stock prices to the...
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