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Suicide, Crime, Unemployment And Poverty All Soar As The Economic Crisis In Alberta Accelerates

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Canadian Flag - Public DomainThe nightmare that is currently unfolding up in Canada will soon be coming to the United States. When the price of oil first started crashing, most Americans and most Canadians applauded. Most people thought that lower gas prices would be really good for the economy. Well, it turns out that the exact opposite is true. Just like in the United States, the energy industry has been the primary engine for the growth of good paying jobs in Canada since the last recession. Up in Alberta, there was such a need for oil patch workers that even someone that had just recently graduated from high school could find an oil patch job that paid six figures during the boom times. Now the “boom” is turning into a “bust”, and huge numbers of those good paying jobs are being lost. As a result, suicide, crime, unemployment and poverty are all skyrocketing, and the mainstream media is telling us that “the worst is yet to come“.

It saddens me to watch what is happening to Alberta, because I have family up there. Whenever I have visited Alberta, I have been very impressed by how clean and orderly the communities are and by how very polite most people seem to be. As Americans, there is much that we could learn from our neighbors to the north.

But now that the oil bubble has burst, things are changing up in Alberta very rapidly. The following comes from a recent Bloomberg article

Crime is rising, home prices are falling and food banks are overwhelmed in Calgary as job losses spread. And the worst isn’t yet over in the heart of Canada’s oil patch.

Some of the city’s largest employers are poised to cut more jobs in 2016 as they reduce spending for a second straight year, adding to an estimated 40,000 oil and natural gas positions lost across the nation since the crude price rout began 18 months ago.

We all know someone who has lost a job,” Naheed Nenshi, the city’s mayor, said in a speech this month, lamenting the “funeral”-like atmosphere in the business community.

When we start digging into some of the hard numbers, things get even bleaker. Just check out these statistics

-A total of more than 63,000 jobs were lost in Alberta during the first eight months of 2015 alone.

-Over the past 12 months, the official unemployment rate in Calgary has shot up from 4.6 percent to 6.9 percent.

-Home sales in Calgary have plummeted 21 percent so far in 2015.

-Just since September, the number of school lunches for poor children provided by Brown Bagging for Calgary’s Kids has risen by 16 percent.

-Food bank use in the province of Alberta overall has jumped by a whopping 23 percent according to the most recent numbers.

-In Calgary, the number of commercial break-ins has nearly doubled over the past year.

-The number of bank robberies in Calgary has increased by 65 percent in 2015.

-The number of home invasions in Calgary has risen by 52 percent in 2015.

-Every time there is an economic downturn in Alberta, the suicide rate shoots up, and this year is no exception. It is being projected that the suicide rate will be about 30 percent higher this year than it was last year.

This is what happens when a “boom cycle” turns into a “bust cycle”, and the same thing is coming to the United States.

Even in the midst of our so-called “economic recovery”, poverty in America has continued to explode, suicide rates have continued to rise, and in many of our largest cities violent crime rates are up by double digit percentages in 2015.

If these things have been happening during the “good times”, what in the world are the “bad times” going to look like?

Just because the U.S. stock market is doing okay for the moment does not mean that the underlying economy is in good shape. The truth is that we are in the midst of a long-term economic collapse that is now starting to accelerate once again. For much more on this, please see my previous article entitled “Sayonara Middle Class: 22 Stunning Pieces Of Evidence That Show The Middle Class In America Is Dying“.

What is happening up in Alberta right now gives us some important clues about what we can expect to happen shortly in our own communities.

First of all, we are going to see large numbers of people start to lose their jobs just like we saw back in 2008. And because 62 percent of the country is living paycheck to paycheck, that means that most people do not have a cushion to fall back upon. Just like in 2008, millions upon millions of Americans will go from living a very comfortable middle class lifestyle to facing hard times and desperation very, very rapidly.

As fear and poverty spread, people will become desperate, and desperate people do desperate things.

Some will decide that their lives are no longer worth living and will turn to suicide. Others will turn to drugs, alcohol or pills. When things get tough, addictive behavior tends to rise, and this time around will probably be no exception.

Other Americans will turn to crime and violent behavior in their desperation. Just like we are seeing in Canada right now, home invasions, bank robberies and other forms of violent crime will increase.

But if you are prepared ahead of time, you and your family will have a chance to make it through the storm. That is why I am constantly urging my readers to prepare. If you wait until the storm is right on top of us, that will be too late to start preparing.

Right at this moment, things seem relatively quiet. Most of us have become trained to think in terms of 48 hour news cycles, and so we can be fooled by temporary lulls in the action.

Don’t be fooled. This period of relative quiet is about to come to an abrupt end, and 2016 is going to be far more chaotic than most people would dare to imagine.

So please get prepared for what is ahead now, while you still can.

  • K

    When it goes this time, no Country will be exempt. Some will be more affected than others. But this time around, the pain will be global.

  • jsmith

    A very sobering article Michael. Most of us reading your article are all right, but I can see where people who lose it all, perhaps not all at the same time can gradually lose the will to live and in desperation opt for suicide.

  • VigilanteCaregiver

    Thanks Mike. Hope the family up there is well!

  • Rufus T Firefly

    Pretty soon they will be crossing the 49th parallel to get on our welfare and food stamp rolls.

  • Guest

    I wouldn’t bet on it…don’t flatter yourself into thinking that Canadians will be jumping over there for help anytime soon. A bad day for the poor in Canada is still a good day for the poor in America(and I’ve lived in both countries so this is first hand knowledge and not just my opinion!)
    Like Michael says ‘maybe we can learn something from our neighbors to the north’…he’s not far off.
    I’m not saying my time in the US wasn’t great but don’t think that America is the last resort for people in tough times. Not sure if I can find one Canadian who thinks the answer to their problems is to turn to the US for help. I’ve lived there and see how welfare and handouts work, it’s not worth the border crossing toll to want a part of it!

  • greed destroys

    Everybody lets George Soros, Rothschilds & other bankers get away with taking more & more & more until we have nothing left.
    Now it looks like Zuckerberg Greedbook and a bunch of others will be hiring a bunch of foreign techs & firing more Americans.

    • Time

      Soros, Rothschilds, Zuckerber, and banks. Talk about a who’s who of Jews!

  • http://karmaeconomics.blogspot.com/ lavista4u

    The most useless commodity on earth ever is MONEY. I’m a third world guy and never had all these problems mentioned as I never chased money.

    I’m telling you guys. Go Spiritual – The only true path. You will always have enough to follow your spiritual path.

    The only Elixer you ever need is Tulsi – Eat Tulsi leaves everyday and have all your problems go away.

    It is the mother of Ayurveda itself. Did you know, Tulsi is the only plant on earth that releases OZONE at night not CO2 ..its that Pure. Google it. It will solve all your problems. Guaranteed.

    • Jim Davis

      The only elixer I need is Gin!

    • afchief

      Jesus said “I am the truth, the way, and the life.” There is NO other spiritual way except through Jesus Christ. None!

      • marty1h

        Until He shows up, the brain our Creator provided is correct to arrive at the conclusion that Jesus is a product of imagination.

        • Edd Harris

          Jesus never existed. There isn’t any mention of this guy in any books written at the time. The only book is the bible and the koran. Both full of nonsense and hatred.

          • Robert Veklotz

            Welcome to 2016, but 2016 years after what? Oh yes, Jesus’ birth. You know, that non-existent guy.

    • Gene

      Most people are just trying to get by. The greed is in banks and Wall Street…and they could care less about spirituality.

  • Jim Davis

    One industry’s bust is another’s boom. Cheap energy prices are especially bad for leveraged oil companies, but they are great for other industries, and consumers.

    This isn’t the first oil bust and won’t be the last. The world didn’t end when it happened before. Another fail for those hoping for the End Times.

    • Gene

      Do you really think oil is only related to energy use? You are a failure.

      • Jim Davis

        I didn’t say that but whatever. Clearly economics is over your head.

    • Jobe Hinnid

      Let’s hope it IS End Times for the empty soul’d oligarchical families that own all of the oil companies on Earth.

  • David

    Paul Ryan & congress passed the Omnibus bill that ensures that 4X as many H1B-Visa workers & 300,000 Muslim Syrian Refugees come to the US and take more American Jobs. Corporations Pay these Traitors in Congress to supply them with cheap labor as Americans get sold down the river by our Elected Masters in Washington. Employers love them as they are more than likely NOT to form unions and won’t complain much. Employers get a wonderful tax break as a bonus for hiring them.

    with a Self-Serving Congress like we have today there is no future for millions of Americans today.

  • truefreedom

    Michael was wrong about the Shemitah. He’s likely wrong about a lot of other stuff, too. Yes, people should live carefully and soberly in trying times but we get no benefit from Michael’s constant ranting. I have many friends and relatives in Alberta. Nobody is starving. Nobody is going crazy. Life is OK. What Michael should really be looking at is why oil prices are so low. What are the geo-political forces driving this new reality? Is this a true free-market problem or is the market being manipulated. If so, to what end?

    • http://www.math.missouri.edu/~rich/MGM/primer.html rwinkel

      They’re trying to kill russia.

      • truefreedom

        Yes, that’s the kind of analysis that can be helpful. Build on it.

      • HeisKingofKings

        They are trying to kill the entire planet earth

      • thomas

        I would say that Saudia Arabia is trying to help the dems out with low gas prices. That shot in the arm will help continue the weakening of America by O. From one muslim to another. Yes, to hurt Russia but
        to help Obama also.

    • Gay Veteran

      you think Michael is ranting?
      ROFLOL, you obviously have never listened to Gerald Celente

  • http://www.math.missouri.edu/~rich/MGM/primer.html rwinkel

    Michael, we need solutions to these depressing statistics. And solutions are out there. The first one is to nationalize the central bank and put it under open democratic control. Without that we’re at the mercy of scam artists.

    • Canuck Sevensevens

      Good luck trying. Did you know that in the Bank of Canada’s charter, they are not supposed to charge interest to the government? We’ve been paying all these years. No. The only solution right now is taking individual personal actions to safeguard your wealth and family. Most people don’t like to hear the solutions, but here they are: Tighten the waist belt now before you are forced to. Cook more at home and buy more food at the ethnic stores that have generous discount fruit/vegetable bins. $6.99 will buy you a lot more than a head of coli flour. Stock up on storable food and life necessity provisions. Pay down debts with these savings. Stack precious metals–even if it’s just from the $5 a day you save at Starbucks (That’s about 1oz. silver/week). People have to get out of the mindset that they can keep borrowing from the future AND start paying the future forward. What a revolutionary idea?

      • thomas

        The govt can’t deal with that situation. They need people in debt and under stress!

  • http://www.mindbodygreen.com Kim

    Sad what is happening in Canada. and it’s only going to get worse.

    • SunnyFlaSnotress

      Canada has become Sodom and Gomorrah!
      The government has made prostitutes legal in 2014
      They are evil Ho’sHeads!

  • Robert

    I read someone was making six figures for perhaps several years and they have nothing to show for it? So food is expensive. Eat less or eat differently such as not in restaurants. I see families packed into every restaurant I go into. My average bill will run 25 bucks plus or minus. What is a family shelling out? Canada has a medical safety net so a Canadian will not go bankrupt from medical bills. Btw, Canadian friends like that even if not perfect. Whoever said the boom times would last? I knew that as a kid from my dad who lived in the Great Depression. Trust no one and count on nothing.

  • http://www.mindbodygreen.com Kim

    I knew when it went below $80 it was game over

  • John Stewart

    Michael: I live in Calgary, AB and I also volunteer at the food bank here. Since October we have seen a steady increase of people using the food bank and before Christmas it almost doubled. Malls are quiet, people are getting nervous and cautious about spending as many work in oil related jobs. Alberta has always been this way, we have had boom and bust cycles before, but this time is different, most Canadians are deeply in debt. If this continues it could set off a chain of defaults which would rattle our economy. Add to that an NDP government and you have a recipe for disaster. However, there is a bright side……it’s still better than being an American.

  • m rapp

    notice the mayors name……….NOT a kanuk….another foreign transplant…boo hoo for the Canadians same for all of us keep pouring in the illegals and this is what you keep, stupid Canadians let themselves be DISARMED and socialized …why should I care

    • jafo

      We are stupid! You have a Muslim, Kenyan, homosexual for President. Just so you know over 35 percent of Canadians own firearms. Why should you care? Because, most patriotic Canadians care about what we see happening to your country.

      • James

        Obama is an Christian, American, hetersexual for president.

        • shropster

          Another poorly paid, inarticulate literacy challenged troll.

          • James

            Yes that is why he is married to a female, managed to fool the entire government admisntration and eats pork, drink’s alcohol, does not pray 5 times a day, has not gone to Mecca, and eats in the morning during Ramadan.

            Try again

          • TEXAS RUFCUT

            Dude I have a Muslim uncle He is married to my dads sister, He is a wonderful man but goes to his mosk and she goes to her church. He eats what he wants to eat. And he drinks wine. So you know nothing.

          • James

            drinking alcohol and eating pork are taboo’s in Islamic culture

            You cant even spell mosk correctly. It is mosque

            From the quran

            2:173-
            “He has only forbidden to you dead animals, blood, the flesh of swine, and that which has been dedicated to other than Allah . But whoever is forced [by necessity], neither desiring [it] nor

            transgressing [its limit], there is no sin upon him. Indeed, Allah is Forgiving and Merciful.”

            5:90 O ye who believe! Intoxicants and gambling, (dedication of) stones, and (divination by) arrows, are an abomination,- of Satan’s handwork: eschew such (abomination), that ye may prosper.

            5:91 Satan’s plan is (but) to excite enmity and hatred between you, with intoxicants and gambling, and hinder you from the remembrance of Allah, and from prayer: will ye not then abstain?

        • TEXAS RUFCUT

          Dude you need to get your head out of the sand, Jafo is right, we have a Muslim homosexual pres married to a Tranny. They didn’t wax Joan Rivers for nothing. Wake up. He prev administration the Bushes are Nazi’s and all of them are related. Search for yourself, Get your head outta your rear and search. Prescott Bushs involvement with Financing the Nazi’s, Search Presidential bloodlines and read, learn. Its people like you are the reason we have lost our country because you aint got the balls to wake up.

          • James

            If Obama is homosexual, he would not be married to a female.

            As for being a muslim, he eats in the mornings during Ramadan, does not pray 5 times a day (He always has cameras on him), does not donate 5% of his income, or has not gone to Mecca

            Seriously, stop posting chain emails.

  • Tim

    Oil prices and the economy are just like the supply demand curve. As gas prices fall, spending on other items instead of gasoline rise, thus stimulating the economy. If gas prices rise, consumer spending on other items decreases, thus slowing down the economy. Trust me, low gas prices are a good thing, not a bad thing. They (Saudi Arabia) want people to celebrate $5/gallon gas when they eventually jack up the price). Regardless, people will be buying other things and stimulating the economy and then gas prices will rise once again. It will reach and equilibrium at some point where supply matches demand.

    • Andrew Cooler Can

      oil price dropped 65%, problem is gasoline price only dropped 25%.

  • tacoma

    Canada has three oil producing regions – Alberta (the biggest by far), off the coast of Newfoundland, and Saskatchewan. (Canada also has massive natural gas production.) It’s total oil productions have not changed much over the past 5 years. About half for domestic use, half exported to the U.S. In both markets oil and gasoline consumption, and therefore prices, have not changed much.

    So why the sudden collapse of oil price (when demand remain constant), why the dramatic economic freefall in Alberta? Is Alberta or Canada policy responsible? Not even a tiny bit. Both are 100% victims of other people’s war.

    The crushing drop of oil price from around $100/barrel a few years ago to today’s $35/barrel is entirely made in America and OPEC. It’s a result of an epic oil war between them. But OPEC did not start this war. America did. OPEC merely responded to America’s first shots in defense.

    This historical oil war began when oil researchers in America figured out how to extract shale oil in massive quantities. Cost is high but it can be done. Big Oil – Exxon, Shell, etc – however, won’t touch it – because they already have established global operations. So small venture companies moved in to exploit. But they don’t have the big dollars required to build up operations. What to do? Enter Wall Street venture and vulture risk money – the kind that created the housing boom of the 2000’s. These monies operate on big leverage, complex derivatives, strange and bent rules, fast and huge returns. These same vultures pumped up housing and busted it within a decade leaving behind a bombed out landscape of foreclosures but they laughed all the way to foreign banks to hide they trillion dollar profits. Now they repeat their dastardly deeds on the untapped shale oil fields.

    Within a mere 5 years, shale oil productions went from zero to a shocking 6 million barrels! Add this to existing traditional oil production and the U.S. of A. suddenly produces a whopping 11 million barrels. Making America the world biggest oil producer. Bigger then Saudi, bigger than Russia. (In contrast, Canada took 30 years to produce 3 million barrels from its oil sands.) But why the rush to produce such massive amount so fast, why such a hurry? Answer: Wall Street high risk venture money demands the fastest and maximum return on investment. Their mantra: take the money and run. Because they know, like housing, everything they do is a bomb and will blow.

    Intended or not, America’s rise to become world’s biggest oil producer have big consequences. That consequence is it requires OPEC and Russia to cut their productions by what shale displaces in order to maintain prices. The Saudi and the Russians ask themselves – why should we cut production when it is America who flood the world supplies with so much new oil so fast? So they refused to cut, the global market is flooded with oil, and price dropped like a stone. The oil war in on.

    The Obama administration refuse to intervene. Reasons: it won’t dare to intervene with Wall Street big money investments; it smiles when oil price collapse hit Russia. Let’s not forget that the U.S. Fed can always print more US dollar, petro dollar, and pump it down to the U.S. economy to pay for whatever is lost due to the oil war. It has the dollar trump card.

    Alberta and Canada fall victim to this epic oil war. As Canadian have said over the decades, with friend like this south of the border (who now buys Canadian oil for dirt money), who needs enemy?

  • Narin Singh

    well it takes the profit out of war as well. no one is going to wage a war on solar panels now are they.

  • shropster

    Considering the age of Larouche, there can’t be much movement, even with a laxative.

  • JettieG

    Great article, but you forgot to add that the Alberta economy is also being clobbered by the new (socialist) NDP provincial govt, which is levying new royalty, carbon and other taxes on oil/gas companies, who in turn are halting new developments and laying off more workers. Albertans were tired of their long-time Conservative govt, but now they are discovering the horrors of their new one. Even the farmers are protesting.