Despite so much evidence to the contrary, the Biden administration continues to insist that the U.S. economy is on the right track. But is that really true? Thanks to the Federal Reserve, interest rates are now much higher and the money supply has been contracting at the fastest pace since the Great Depression. As a result, large companies have been conducting mass layoffs, the housing bubble is imploding, and economic activity is rapidly slowing down all over the nation. But if you ask Joe Biden and his minions, what we are witnessing is all part of the plan. In fact, they continue to speak of “Bidenomics” as if it is a good thing…
Monday’s announcement is part of Biden’s greater push for his economic plan dubbed ‘Bidenomics,’ which ‘is rooted in the simple idea that we need to grow the economy from the middle out and the bottom up – not the top down,’ Dunn and Donilon wrote.
The president’s economic proposal includes plans to hike taxes on the uber-wealthy and corporations in order to subsidize social, climate and health programs.
Give me a break.
I’m not buying what they are selling, and most other Americans aren’t either. According to one recent survey, well over half of all Americans disapprove of how Biden has been handling the economy…
More than half – 54% – of Americans disapprove of how Biden is handing his job, while just 35% of respondents approved of his stewardship of the economy, according to a Reuters/Ipsos poll conducted earlier this month.
Those figures are a bad sign for Biden and his fellow Democrats.
Of course Biden is not responsible for the stunning reversal in money supply growth that we have been witnessing.
The money supply has been steadily shrinking since late last year, and during the month of April it actually contracted at the fastest pace that we have seen since the Great Depression…
During April 2023, the downturn accelerated even more as YOY growth in the money supply was at –12.0 percent. That’s down from March’s rate of –9.75 percent, and was far below April’s 2022’s rate of 6.6 percent. With negative growth now falling near or below –10 percent for the second month in a row, money-supply contraction is the largest we’ve seen since the Great Depression. Prior to March and April of this year, at no other point for at least sixty years has the money supply fallen by more than 6 percent (YoY) in any month.
It is important to understand that the economy does not immediately respond to a change in the money supply.
There is a lag. In other words, it takes time for the effects to filter through the entire system.
But we are already starting to see some very troubling signs. As I have been documenting in recent weeks, large companies have been conducting mass layoffs all over the country. Just a few days ago, Ford added their name to the list…
Ford Motor Co. is planning to lay off a minimum of “several hundred” salaried employees, starting as soon as next week, the Detroit Free Press has learned.
The action will be limited to white-collar workers in North America, perhaps just the U.S.
And we are starting to see initial claims for jobless benefits move higher.
In fact, Zero Hedge is reporting that we just saw the highest number in almost two years…
264,000 Americans filed for jobless benefits for the first time last week – the highest number since October 2021…
California, New Jersey, and Connecticut saw the largest jump in initial claims as perhaps the tech layoffs are starting to register (as severance packages run dry)…
Meanwhile, U.S. home prices continue to fall as Housing Bubble 2.0 continues to implode.
The following comes from CNN…
US home prices fell in May at the largest annual rate in more than a decade, according to a National Association of Realtors report released Thursday.
The median existing home price was $396,100 last month, down 3.1% from a year ago, marking the largest year-over-year price reduction since December 2011.
But don’t worry.
Joe Biden says that everything is going to be okay.
You believe him, don’t you?
The commercial real estate crisis also continues to grow. According to the Daily Mail, experts are calling it “a debt timebomb” that has the potential to absolutely devastate our financial system…
Commercial real estate has become a debt timebomb, experts have warned, as office towers remain empty in once-bustling cities.
The new era of remote work means ‘zombie’ workspaces remain vacant – while higher interest rates make it more expensive to buy or refinance buildings.
Of course the overall economy is steadily deteriorating, and it has been for quite some time.
At this point, the Conference Board’s index of leading economic indicators has now fallen for 14 months in a row.
And it isn’t just the U.S. that is slowing down. According to Yahoo News, the Chinese economy is also “losing momentum”…
China’s consumer-driven recovery is showing more signs of losing momentum as spending slows on everything from holiday travel to cars and homes, adding to expectations for more stimulus to support the economy.
Domestic travel spending during the recent holiday for the dragon-boat festival was lower than pre-pandemic levels, according to official data released this weekend. Home sales figures are below the level in previous years, while estimates for June car sales showed a drop from a year ago.
So what does all of this mean?
What it means is that we are clearly moving in the wrong direction.
The American people clearly understand this, and that is why Joe Biden’s poll numbers are so dismal.
But we should be thankful for one thing.
Economic conditions are still at least somewhat relatively stable, but the current state of affairs will not last indefinitely.
Much bigger problems are on the horizon.
So enjoy these troubled times while you can, because it won’t be too long before this economic crisis becomes far more severe.
Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
Article cross-posted from The Economic Collapse Blog.
Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.