The Average U.S. Farm Is $1,300,000 In Debt, And Now The Worst Farming Crisis In Modern History Is Upon Us

We haven’t seen anything like this since the Great Depression of the 1930s.  Leading up to this year, farm incomes had been trending lower for most of the past decade, and meanwhile farm debt levels have been absolutely exploding.  So U.S. farmers were desperate for a really good year, but instead 2019 has been a total disaster.  As I have been carefully documenting, due to endless rain and catastrophic flooding millions of acres of prime farmland didn’t get planted at all this year, and the yields on tens of millions of other acres are expected to be way, way below normal.  As a result, we are facing the worst farming crisis in modern American history, and this comes at a time when U.S. farms are drowning in more debt than ever before.  In fact, the latest numbers that we have show that the average U.S. farm is 1.3 million dollars in debt(Read More...)

It’s Over: The Democrats And The Republicans Are Both Conspiring To Bankrupt America And Destroy Our Future

Both major political parties are working together to destroy America’s financial future, and most Americans don’t seem to care.  Once upon a time, the Republicans were considered to be “the party of fiscal responsibility”, but now they are just as bad as the “free spending” Democrats.  As you will see below, a “compromise” budget deal was just reached which will dramatically increase federal spending and will suspend the federal debt limit until after the next election.  In other words, both sides are conspiring to make our debt problem much, much worse over the next year and a half, and this should be causing howls of outrage all across America.  But instead most Americans seem content to go along with the free spending ways of our political leaders, and only a handful of voices are sounding the alarm as we steamroll toward financial oblivion. (Read More...)

There Is An Increasing Amount Of Buzz That China Could Invoke The Rare Earth “Nuclear Option” In The Trade War

If China wants to cause a massive amount of pain for the U.S. economy in this trade war, they certainly have the firepower to do so.  Today, China accounts for more than 80 percent of the world’s rare earth element production, and approximately 80 percent of the rare earth elements that are used by U.S. companies are imported from China.  The U.S. does have one facility that mines rare earth elements in California, but everything that is mined there has to be shipped to China for processing.  So at this point we do not have the ability to supply our own rare earth element needs, and that gives the Chinese a tremendous amount of leverage. (Read More...)

Trade Talks Are Dead, And So U.S. Consumers Should Brace For A Long, Bitter, Painful Trade War With China

There is not going to be a trade deal between the United States and China any time soon, and that is going to mean a tremendous amount of pain for the U.S. economy.  For months, hope that the U.S. and China would soon reach a trade deal helped to elevate global financial markets, but now that hope has disappeared.  In order for a trade deal to happen, the two sides have to talk, and at this point no negotiations are scheduled.  And unless one side or the other decides that they are willing to move dramatically from their current positions, there really isn’t any reason to talk.  In fact, the Chinese government is openly saying that it is in “no rush” to negotiate with the United States… (Read More...)

On The Edge Of Disaster: 59 Percent Of Americans Are Living Paycheck To Paycheck

Living on the edge, being dragged down by debt, and having little hope for the future is no way to live.  But that is precisely where most Americans find themselves in 2019.  Despite a supposedly “booming economy”, the middle class continues to shrink and most of the country is barely scraping by from month to month.  In fact, a brand new survey that was just released by Charles Schwab discovered that 59 percent of all Americans are currently living paycheck to paycheck(Read More...)

If The Chinese Were Upset Before, Now They Are Going To Be Absolutely Furious After Trump’s Latest Move

President Trump is doubling down on his tough approach with China, and apparently he has decided that now is the time to cripple their most important tech company.  Huawei Technologies sells more telecommunications equipment than anyone else in the entire world, and it was anticipated that they would be one of the global leaders in the rollout of 5G networks all over the planet.  The company ranks 72nd on the Fortune Global 500 list, and at this point they sell more phones than Apple does.  Essentially, Huawei is China’s version of Apple, and the company is greatly loved by the communist government in China.  So if President Trump really wanted to piss off China, taking a sledgehammer to Huawei would be a great way to do it, and that is precisely what he just did. (Read More...)

Credit Card Charge-Offs Hit The Highest Level In Nearly 7 Years And Credit Card Delinquencies Hit The Highest Level In Almost 8 Years

When people are having a harder time paying their bills, that is a signal that the economy is slowing down.  This is something that we witnessed back in 2008, and it is something that is happening once again right now.  Credit card charge-offs at major U.S. banks haven’t been this high since the U.S. economy was pulling out of the last recession, and the same thing is true regarding credit card delinquencies.  So even though the mainstream media keeps telling us over and over that the U.S. economy is “booming”, the cold, hard numbers are telling us something completely different.  This is a point that I made yesterday in my article about how homelessness is absolutely exploding in New York City, and it is a point I will undoubtedly have to make many more times as long as the mainstream media feeds us this fictional narrative about a “booming economy”.  Look, the truth is that you can’t say that we have a booming economy until we have a year when the U.S. economy grows by at least 3 percent, and at this point we haven’t had that since the middle of the Bush administration. (Read More...)

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