Auto loan delinquencies are skyrocketing, national debt is soaring to unprecedented levels, and household liquidity is projected to completely vanish by May 2024. Brace yourself and your family for some of the harshest economic times in modern history as household incomes plummet, and crude oil prices skyrocket, signaling a challenging road ahead for American families.
As America faces an unprecedented rise in economic challenges, preparing for what lies ahead is not just a matter of prudence but of survival. The middle class was once the backbone of the American economy – now it’s synonymous with the “impoverished class.” America is at a critical juncture in history demanding immediate and substantial correction.
In the meantime, you need to get ready.
The Grim Fiscal Reality Going Into 2024
You don’t need us to tell you that the economy is in rough shape. You’re already feeling it every time you go to buy groceries or sit down at the kitchen table to pay your bills. But here are the numbers on just how bad it is:
- Vanishing Household Liquidity: Excess household liquidity, currently at $1.4 trillion, is projected to disappear completely by May 2024, evaporating at a rate of $100 billion per month.
- Lost Spending Power: Americans have lost over $7,100 in spending power since January 2021. During this time period, household incomes witnessed the steepest drop since 2010.
- Inflation Impact: Under the anti-American Biden Regime, prices have outpaced wages significantly. The tangible effect of this is that the average family lost $5,800 in real annual income. Inflation is a hidden tax that, when coupled with higher interest rates, costs families a total of $7,100 in annual income under the current “leadership.”
- National Debt Surge: The US national debt surged by a staggering $1.5 trillion since the recent debt ceiling crisis, with the government adding a whopping $500 billion per month in the last three months alone.
- Crude Oil Price Surge: Crude oil prices have breached $90 for the first time since November 2022, marking a 35% increase in just three months. The Strategic Petroleum Reserves (SPR) are depleting rapidly, leaving the US with less than 46 days of emergency supply.
Economic Troubles Everywhere
Another extremely troubling economic reality is just how broad the problem is, impacting just about every aspect of the American economy:
- Homelessness Crisis: Homelessness spiked by an unprecedented 11%, reaching the highest levels since 2007. Cities like Oakland and San Francisco are overwhelmed by a crisis of homelessness and drug addiction
- Auto Industry Turmoil: Delinquency rates on auto loans have nearly doubled since rate hikes in March 2022, reaching 7.3%. Moody’s predicts a massive 10% delinquency rate by 2024.
- Income Drop: American households experienced the most significant drop in income last year, with real median household income declining to $74,580 in 2022, a 2.3% drop from the previous year.
- Credit Card Debt Surge: Credit card debt surpassed $1 trillion for the first time, painting a troubling picture of the economic landscape.
How To Prepare For The Impending Economic Storm
You don’t just want to be afraid, though – that’s why you’re here. You want to be prepared for what might come. So here are a few tips to help you and your family steel yourselves against a coming economic collapse:
- Diversify Income Streams: Diversify income streams and consider investments in tangible assets. This will leave your family more resilient in the event that you are out of a job and still need to pay your bills
- Manage Debt Effectively: Learn to manage debt effectively and establish emergency funds. This will help you to keep your head above water in times of crisis.
- Community Building: There’s no more valuable resource than the community around you. Make sure to foster community-building activities, where neighbors pool resources, share knowledge, and forge local alliances that can withstand systemic collapses.
- Essential Goods Stockpiling: Focus on ensuring a steady supply of essential goods, such as non-perishable foods and medicines, to manage a household independently during economic downturns. Consider starting home gardens and learning food preservation techniques.
It’s survival mode – be prepared, be resilient, and navigate the economic storms with foresight and readiness.
How are you preparing your family for a total collapse of the American economy? Leave your thoughts in the comments below.