Editor’s Commentary: Our economy is currently in what I like to call a “Humpty Dumpty” state. Right now, it’s sitting on the wall, that wall being the various bricks that prevent us from being crushed under the weight of $31 trillion in national debt. For example, the petrodollar is a huge brick in that wall, and if that ever changes the wall will collapse and America along with it.
Will there be a great fall soon? That’s hard to say, but on thing is absolutely certain: If our Humpty Dumpty economy does have a great fall, all the nation’s horse and all the nation’s men will not be able to put it back together again. It’ll make The Great Depression seem like a minor fiscal blip, as I discussed in a brief for The JD Rucker Show. Here’s Michael Snyder from The Economic Collapse Blog to explain more…
Is your job safe? Right now, we are witnessing so much turmoil is so many different sectors of our economy. The housing market is crashing, the cryptocurrency industry has imploded, the tech industry is laying off workers at an extremely frightening pace, and some of our most important retailers are heading into bankruptcy. The information that I am about to share with you is deeply troubling. It has become exceedingly clear that our economy is in huge trouble, and I fully expect that our problems will accelerate even more as the year rolls along.
Let me start by pointing out what is currently happening at Microsoft. It is one of the wealthiest companies in the entire world, but due to a shift in “macroeconomic conditions” executives have decided that it has become necessary to lay off 10,000 workers…
Microsoft announced thousands of job cuts this week, becoming the latest tech company to pluck its workforce as the global economy slows.
The software company confirmed Wednesday its reducing workforce by 10,000 people through the end of the third quarter of the 2023 fiscal year.
The cuts come “in response to macroeconomic conditions and changing customer priorities,” the company’s CEO Satya Nadella released in a statement to its employees Wednesday.
If even Microsoft is laying off thousands of workers, is any job in the private sector truly safe?
Meanwhile, some of the biggest names in the retail industry are plunging into bankruptcy now that the holiday season is over.
On Tuesday, it was Party City’s turn…
Party City filed for bankruptcy protection Tuesday, weighed down by competition and years of financial losses.
The largest party goods and Halloween specialty retail chain in the United States said in a regulatory filing that it reached an agreement with debtholders to cut its $1.7 billion debt load.
Even more alarming is the fact that it is being reported that a bankruptcy filing for Bed Bath & Beyond has become “likely”…
Bed Bath & Beyond has been in discussions with prospective buyers and lenders as it works to keep its business afloat during a likely bankruptcy filing, according to people familiar with the matter.
The retailer is in the midst a sale process in hopes of finding a buyer that would keep the doors open for both of its major chains, its namesake banner and Buybuy Baby, said the people, who weren’t authorized to discuss the matter publicly.
So many brick and mortar retailers are really struggling right now, and many of them are blaming competition from Internet retailers such as Amazon.
But if Amazon is doing so well, why did they start laying off approximately 18,000 workers on Wednesday?…
Earlier this month, Amazon CEO Andy Jassy told employees in a blog post that the company was laying off about 18,000 people as it seeks to cut costs and would begin contacting impacted employees on Jan. 18.
“Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,” Jassy said in the Jan. 4 post. “These changes will help us pursue our long-term opportunities with a stronger cost structure.”
The wave of layoffs that we have been witnessing in the tech industry is truly unprecedented.
Prior to this week, more than 25,000 tech industry workers had already been laid off this year, and this comes on the heels of the massive layoffs that we saw last year…
According to the data tracking website, more than 101 tech companies around the world have laid off 25,436 employees so far in 2023. Most of the layoffs have taken place in the United States, accounting for 22,400 employees fired.
The number of workers being laid off from tech companies is a trend that is continuing since 2022, when 154,336 workers were fired from over 1,000 tech companies around the world, according to the data.
But at least the tech industry is in far better shape than the cryptocurrency industry is.
Let me share four major announcements that have all happened within the past 10 days…
#1 It is being reported that Genesis Global Capital “is laying the groundwork for a bankruptcy filing”…
Genesis Global Capital is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.
The cryptocurrency lending unit of Digital Currency Group has been in confidential negotiations with various creditor groups amid a liquidity crunch. It has warned that it may need to file for bankruptcy if it fails to raise cash, Bloomberg previously reported.
#2 Crypto.com announced that it will be laying off “20% of its workforce”…
Crypto.com announced plans to lay off 20% of its workforce Jan. 13. The company had 2,450 employees, according to PitchBook data, suggesting around 490 employees were laid off.
CEO Kris Marszalek said in a blog post that the crypto exchange grew “ambitiously” but was unable to weather the collapse of Sam Bankman-Fried’s crypto empire FTX without the further cuts.
#3 Coinbase has decided “to cut about a fifth of its workforce”…
On Jan. 10, Coinbase announced plans to cut about a fifth of its workforce as it looks to preserve cash during the crypto market downturn.
The exchange plans to cut 950 jobs, according to a blog post. Coinbase, which had roughly 4,700 employees as of the end of September, had already slashed 18% of its workforce in June saying it needed to manage costs after growing “too quickly” during the bull market.
#4 The founder of cryptocurrency exchange Bitzlato has actually been arrested. Apparently he was laundering money on a scale of epic proportions…
The founder of the Hong Kong-based cryptocurrency exchange Bitzlato was arrested early Wednesday in Miami in connection with a vast money laundering operation, accused of transmitting more than $700 million in illicit funds in the past four years.
Deputy Attorney General Lisa Monaco said Anatoly Legkodymov, 40, a Russian national, oversaw a major “high-tech financial hub that catered to known crooks,” including cybercriminals and drug dealers seeking to process dirty money.
The cryptocurrency industry will never look the same again after all of this turmoil.
On top of everything else, the Saudis appear to be poised to make a major move that could literally change everything.
At the yearly gathering of the World Economic Forum in Davos, the Saudi finance minister decided to drop a bombshell…
Saudi Arabia is open to discussions about trade in currencies other than the US dollar, according to the kingdom’s finance minister.
Needless to say, this could potentially completely undermine the dominance of the petrodollar.
Of course we cannot afford to have that happen, because the dominance of the dollar is one of the only things that is keeping our system afloat.
At this point just about everything is moving in the wrong direction for the U.S. economy, but most people still do not understand the bigger picture.
A lot of the “experts” assume that we will just suffer through a temporary recession and then things will eventually return to normal. I wish that was true.
Unfortunately, our entire system is starting to crack and crumble all around us, and those that are currently running things are not going to be able to put it back together again.
***It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael and my brand new book entitled “End Times” is now available on Amazon.com. In addition to my new book I have written six other books that are available on Amazon.com including “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, 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 copies as gifts 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 Blog, End 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 definitely 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 invite Jesus Christ to be your Lord and Savior today.
Article cross-posted from The Economic Collapse Blog.
Alternative video sources:
We Are Witnessing an Enormous Wave of Bankruptcies and Layoffs During the Early Stages of 2023 https://t.co/uFkMhcIzpI
— JD Rucker (@JDRucker) January 21, 2023
Three Reasons a Coffee Gift Set From This Christian Company Is Perfect for Christmas
When you’re searching for a Christmas gift that’s meaningful, useful, and rooted in faith, you don’t want to settle for anything generic. This season is filled with noise — mass-produced products, last-minute picks, and trends that fade as quickly as they appear. But one gift stands apart because it blends genuine quality with a message that matters: a coffee gift set from Promised Grounds Coffee.
This small Christian-owned company has become a favorite among believers who want to support faith-driven businesses while giving friends and family something they’ll actually enjoy. Here are three reasons a Promised Grounds Coffee gift set may be the most thoughtful and impactful present you give this year.
1. It’s Truly Delicious Coffee
Too many “gift-worthy” coffees look beautiful in the package but disappoint when the cup is poured. Promised Grounds takes the opposite approach — exceptional taste first, thoughtful presentation second.
Their beans are sourced with care, roasted in small batches, and crafted to bring out a rich, smooth flavor profile that appeals to both casual drinkers and true coffee lovers. Whether someone enjoys bold, dark roasts or lighter, more delicate blends, every sip reflects quality that stands shoulder-to-shoulder with the biggest specialty brands.
Simply put: this coffee is good. Really good. Some say it’s absolutely fantastic. If you want a gift that won’t be re-gifted, ignored, or shoved in a cabinet, this is it.
2. It Spreads the Word While Serving a Real Purpose
There are many Christian gifts that are meaningful… but not exactly practical. There are also useful gifts that have nothing to do with faith. Promised Grounds Coffee bridges both worlds beautifully.
Each gift set delivers an encouraging, faith-centered message through its packaging and presentation — a simple but powerful reminder of God’s goodness during the Christmas season. The cups are especially popular and serve as a daily reminder of the blessings from our Lord. At the same time, the product itself is something people will actually use and appreciate every single day.
It’s a gift that uplifts the spirit and fills the mug. A gift that points loved ones toward Scripture while still being part of the normal rhythm of life. And in a culture that increasingly pushes faith to the margins, giving a gift that quietly but confidently honors Christ can make a deeper impact than you might expect.
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Many people want to give something meaningful without breaking their Christmas budget. Promised Grounds Coffee strikes that perfect balance — the sets look and feel premium, but the price remains accessible.
The packaging is classy, clean, and gift-ready, making it ideal for:
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It’s the kind of gift that feels more expensive than it is — and more thoughtful than most of what you’ll find on store shelves.
The Perfect Blend of Faith, Flavor, and Christmas Cheer
A coffee gift set from Promised Grounds Coffee checks every box: a gift that tastes amazing, conveys your faith, supports a Christian business, and brings daily enjoyment to the person who receives it. In a season when so many gifts are forgotten, this one stands out for all the right reasons.
If you want a Christmas present that reflects your values and delivers genuine joy, Promised Grounds Coffee is the perfect place to start.
Not sure how these layoffs hurt the American economy. Big tech replaced American workers with green cards from India long ago. Displaced workers will return to India . The reduction in outflow of dollars may actually help the economy.
The worst part about all of this is it is a planned attack. All this is being done intentionally. The Great Reset requires this kind of action. Only when the world economy has collapsed can the elitists be in a position to step in and take over. All of the world needs to fight back. Globalism is NOT the answer!!
The worst part about all of this is it is a planned attack. All this is being done intentionally. The Great Reset requires this kind of action. Only when the world economy has collapsed can the elitists be in a position to step in and take over. All of the world needs to fight back. Globalism is NOT the answer!!
Their biggest fear is that we turn it all off and don’t partake in the new world order. The chip tech needs us to keep it alive. America needs to isolate if it is causing our early demise. People will make commerce no matter where they live. I don’t see us all sitting at home waiting for big tech to deliver us our ration of Solent Green. This will either get our rumps in gear or perish. I’m cheering on man not chip to dictate my destiny. Just say no to soft tyranny.
We have been in a recession since at least the last two quarters of 2022. However, by reporting inaccurate “hiring” and other business data, corporations helped sell the idea that GDP was still marginally positive (thus “officially” there could be no declared recession since GDP didn’t go negative) and the “democrat fiscal policies” were “working”. However, as soon as the midterms were done and the leftist fraud machine ensured that they continued to maintain their power in the the legislature and in state governments, the truth is coming to light – overdue massive layoffs and bankruptcy; marking the beginning of the left’s predicted 2023 “minor recession” (which will actually be a great depression).
HyperBidenstagflation accelerating. Fasten your seatbelts. It won’t be a soft landing.