China Takes A Comprehensive Trade Deal Off The Table, And That Is Disastrous News For The U.S. Economy

The Chinese never intended to make a deal, and now they are publicly admitting it.  For months, I have been warning readers of The Economic Collapse Blog that a comprehensive trade deal with China will not happen before the 2020 presidential election, and the reason why this is the case is actually very simple.  The Chinese have concluded that President Trump will never give them the kind of deal that they are looking for, and so their entire goal has been to run out the clock on the Trump administration so that they can finally get to a Democrat that will be much more “reasonable” to deal with.  Of course if Elizabeth Warren or Bernie Sanders wins the election, they won’t be very “reasonable” either, and so the best case scenario for the Chinese is for either Joe Biden or Hillary Clinton to emerge victorious in November 2020.  In any event, the Chinese are now being very clear about the fact that they are never, ever going to agree to Trump’s core demands.  The following comes from CNBC(Read More...)

This Is Not “Normal”: There Have Been More Than 500 Tornadoes In The U.S. During The Last 30 Days

The mainstream media has been using the term “uncharted territory” to describe the unusual tornado outbreaks that have been happening in the middle of the country, but I don’t think that truly captures the historic nature of what we are witnessing.  Over the last 30 days, there have been more than 500 tornadoes in the United States.  That is not normal.  In fact, Tuesday was the 12th day in a row when at least eight tornadoes were spawned, and that is a new all-time record.  Community after community in the Midwest now looks like a “war zone”, and billions upon billions of dollars of damage has already been done.  But this crisis is far from over, because forecasters are telling us that more powerful storms will roar through the middle of the country on Wednesday. (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...)

It Is Being Projected That U.S. Consumers Will “Pay 40% To 85% More For Vine-Ripe And Other Fresh Tomatoes” By The End Of 2019

It has been quite a year.  In March, catastrophic flooding in the Midwest absolutely crippled thousands of farms and “as many as a million calves” were lost in Nebraska alone.  Then in April we learned that African Swine Fever has wiped out “150-200 million pigs” in China.  To put that in perspective, that is more pigs than the entire U.S. pork industry produces in an entire year.  And now on top of everything else, the price of fresh tomatoes is about to go skyrocketing.  But this time a natural disaster is not to blame.  Instead, it is an action by the federal government that is going to cause us to pay much more for tomatoes at the supermarket.  The following comes from USA Today(Read More...)

Environmental Apocalypse: Up To 1 Million Species Are At Risk Of Extinction According To A Shocking New UN Report

Our planet is dying.  According to an absolutely stunning 1,500-page UN report that was just released, we are about to see plant and animal species go extinct on a scale that is hard to imagine.  This report was spearheaded by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services, and it was based on literally thousands of different scientific studies.  Every species that is lost brings humanity one step closer to extinction, because if there were no other plants or animals on this planet humanity would not be able to survive.  We are utterly dependent on our natural environment, and that natural environment is being destroyed at a pace that is absolutely staggering.  In fact, this new UN report says that up to a million species “are at risk of extinction”(Read More...)

Do NOT follow this link or you will be banned from the site!