The Biden administration is trying really hard to convince us that the U.S. economy is doing just fine, but the numbers just keep getting worse and worse. Consumer confidence is plummeting, large corporations are conducting mass layoffs all over the country, and major retailers are really struggling right now.
Meanwhile, some of the smartest guys in the financial world are making moves that would only make sense if the economy was headed for big trouble. Earlier this month, I wrote about how Michael Burry has bet 1.6 billion dollars that the stock market is going to crash. He made a ton of money in 2008 by being on the correct side of the financial crisis, and he plans to make even more money this time around.
This week, speculation has been growing that Warren Buffett also believes that a major downturn is coming. In fact, Business Insider is warning that Warren Buffett “may be bracing for a recession” because he has been selling off stocks at a staggering pace…
Berkshire sold a net $8 billion of stocks and slowed its pace of buybacks last quarter, sparking a 13% rise in its money pile to a near-record $147 billion.
The sprawling conglomerate has now disposed of a net $33 billion of stocks over the past three quarters, fueling a $38 billion increase in its stash of cash, cash equivalents, and Treasury bills during that time.
Buffett’s second-quarter moves “are consistent with the anticipation of a recession and the fact that stocks are currently pricey,” Hanke told Insider.
Burry and Buffett are both extremely sharp, and they clearly understand what the economic numbers are telling them.
At this moment, most U.S. consumers are struggling to make ends meet from month to month and millions of them are absolutely drowning in debt. And the latest consumer confidence figures are downright dismal…
Consumer confidence cratered in August, falling from a downwardly revised 114.0 last month to 106.1. The projection was for a slight increase to 116.
Americans don’t think the economy is doing well currently. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell to 144.8 from 153.0.
And they don’t think the economy is going to do well in the near future. The Expectations Index— based on consumers’ short-term outlook for income, business, and labor market conditions—declined to 80.2 in August. That reversed July’s sharp uptick to 88.0.
An Expectations Index below 80 generally signals an impending recession.
So that means that we are almost to the level that “signals an impending recession”.
Of course other numbers suggest that a major downturn has already arrived. When the economy is booming, FedEx and UPS have to schedule more flights because they have so many packages to handle. But at this point the number of package flights is falling precipitously…
The number of package flights operated by FedEx Express and UPS significantly declined month over month in July, underscoring how far the overall air cargo market has sunk since the spring of 2022 and the effect of efficiency initiatives the companies have undertaken in response to lower express volumes.
FedEx (NYSE: FDX) flew 9% fewer domestic flights last month than in June following small sequential gains the prior two months, with year-over-year flight activity down 14%, according to an analysis by investment bank Morgan Stanley. The year-over-year decline in UPS’ flight activity accelerated to 13% from 10% in June. UPS (NYSE: UPS) reduced July flights by 14% from June. Flight activity in May and June, by comparison, was relatively stable.
At the same time, big companies all over America continue to lay off more workers.
Right now, we are seeing a lot of large financial institutions let people go as turmoil in the banking industry continues to spread…
BMO Financial Group, Wells Fargo, and USAA have reported hundreds of layoffs to state officials in recent weeks as the U.S. banking industry continues to downsize.
The job cuts come as banking executives express caution about the industry’s growth prospects in the second half of the year, and as some banks divest certain parts of their businesses.
Sadly, this is just the tip of the iceberg. There will be many more layoffs in the months ahead.
Needless to say, the second half of 2023 will not be a particularly good time for retailers.
In fact, Best Buy is already projecting that sales will fall this year more than originally anticipated…
U.S. shoppers have continued to pull back on tech spending, according to the latest earnings report from Best Buy.
The retailer on Tuesday lowered the high end of its full-year revenue outlook amid declining sales, and now expects to make between $43.8 billion and $44.5 billion in revenue during fiscal year 2024, down from its prior guidance of up to $45.2 billion. Comparable sales from stores, websites and call centers open at least 14 months are expected to dip 4.5% to 6% this year, compared to the previous estimate of 3% to 6%.
And we have just learned that Rite Aid is suddenly on the verge of filing for bankruptcy…
Philadelphia-based Rite Aid’s stock price dipped more than 50% Friday after the reports on the pending bankruptcy filing were published by The Wall Street Journal and Bloomberg, citing people familiar with the matter.The Chapter 11 filing would allow the company to restructure its more than $3 billion debt load and help it address lawsuits alleging the company filled hundreds of thousands of opioid prescriptions unlawfully.
Every day, we hear of even more retailers that have gotten into trouble.
Stores are being shut down all over the nation at a frightening rate, and this is particularly true in many of our core urban areas.
For example, the following is from an article about downtown San Francisco that CNN just posted…
In many ways, San Francisco’s downtown is in dire straits. The city’s Union Square neighborhood — once bustling with shoppers, diners, and tourists — has suffered from declining foot traffic and shuttered storefronts.
Stores in the area now have papered-over windows and “Retail for Lease” signs, according to Google Street View, which was last updated in June.
But downtown San Francisco still seems relatively prosperous compared to downtown Oakland.
One man recently took a camera down there, and he discovered that so many stores have closed that it literally looks like a ghost town right now…
This is what communities all over America are going to look like during the very harsh economic environment that is ahead of us.
We have been warned for a long time that this crisis was coming, and now it is here.
Our leaders just kept making one self-destructive decision after another, and now we are in the early chapters of an economic nightmare.
Michael Burry and Warren Buffett are positioning themselves for what is coming. What about you? I hope that you are ready for the approaching storm, because it is really going to pack quite a punch.
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.
How to Prepare for Food Emergencies if You Don’t Have a Homestead or Bunker
In an unpredictable world, where supply chain disruptions, natural disasters, or economic instability can strike without warning, having a reliable food supply is more than just smart—it’s essential for survival. Whether you’re a “prepper” or not, we all know the golden rule: self-sufficiency is key. But what if you’re living in an apartment, working long hours, or simply don’t have the land to turn into a thriving homestead? Don’t worry; there’s a practical, effective way to build your food security without needing acres of soil or a fortified bunker.
The Ideal Prep: Building Your Own Food Empire
The ultimate dream for any serious prepper is controlling your own food production. Imagine waking up to a sprawling garden bursting with fresh vegetables, fruits, and herbs—tomatoes ripening on the vine, potatoes ready to harvest, and greens that provide nutrition year-round. Add in livestock like chickens for eggs and meat, and you’ve got a self-sustaining system that keeps your family fed no matter what chaos unfolds outside.
This approach isn’t just about calories; it’s about resilience. A well-maintained garden can yield hundreds of pounds of produce annually, while a small flock of chickens might produce dozens of eggs weekly. It’s empowering, cost-effective in the long run, and teaches invaluable skills like crop rotation, animal husbandry, and preservation techniques. If you have the space, time, and resources, starting small and scaling up is the best path to true independence.
The Reality Check: Not Everyone Can Homestead
But let’s face it—not all of us are in a position to go full homesteader. Urban dwellers might be limited to a balcony or community plot that’s far from sufficient for long-term needs. Busy professionals juggling jobs, families, and daily life often lack the hours required for daily tending. And for those in apartments, condos, or regions with harsh climates, raising livestock or maintaining a large garden simply isn’t feasible. Factors like zoning laws, soil quality, water access, or even physical limitations can make this ideal out of reach.
That’s where the frustration sets in. You want to be prepared, but without a homestead or bunker, how do you ensure your pantry doesn’t run dry during a prolonged crisis? The good news is, you don’t have to sacrifice your preparedness goals. There’s a smart, accessible alternative that bridges the gap: investing in high-quality, long-term storage food.
The Smart Alternative: Long-Term Storage Food from Heaven’s Harvest
Long-term storage food is designed for exactly these scenarios—providing nutrient-dense, shelf-stable meals that last for decades without refrigeration or special conditions. It’s the perfect solution for preppers who can’t rely on fresh production but still demand reliability and variety in their emergency stockpile.
At Heaven’s Harvest, they specialize in premium survival food kits that make preparedness effortless. Their products are crafted with the prepper mindset in mind: non-GMO, made in the USA, and packed with real ingredients that taste like home-cooked meals, not bland rations. Whether you’re stocking up for a short-term blackout or a long-haul SHTF event, our kits offer:
- Extended Shelf Life: Up to 25 years of storage, so you can buy once and forget about rotation worries.
- Nutritional Balance: High-protein entrees, fruits, vegetables, and dairy alternatives to keep your energy up and health intact.
- Ease of Preparation: Just add water, and you’ve got hearty meals like beef stroganoff, chili mac, or cheesy lasagna ready in minutes—no garden weeding required.
- Customizable Options: From individual buckets to family-sized kits, scale your supply to fit your needs and budget.
- Peace of Mind: Sealed in durable, waterproof containers that protect against pests, moisture, and light.
Unlike generic store-bought cans that spoil quickly or lack variety, Heaven’s Harvest focuses on quality and sustainability. Our food is freeze-dried or dehydrated to lock in flavor and nutrients, ensuring you’re not just surviving but thriving. And for those concerned about allergens or dietary preferences, we offer gluten-free and vegetarian options to keep everyone covered.
Why Wait? Secure Your Food Supply Today
Preparing for food emergencies doesn’t require a homestead or bunker—it requires action. By choosing long-term storage food from Heaven’s Harvest, you’re taking control in a way that fits your lifestyle. Start small with a 72-hour kit to test the waters, or go all-in with a year’s supply for ultimate security.
Visit Heaven’s Harvest today and use code “PATRIOT” for an exclusive discount on your order. Don’t let limitations hold you back; build your resilient future, one meal at a time. Your family will thank you when it matters most.