GLOBAL FINANCIAL CRISIS: 2.12.22 -

The Truth Behind The Economic Lies - by Michael Snyder - http://theeconomiccollapseblog.com/the-truth-behind-the-economic-lies/ The lack of critical thinking that we see in the world of journalism today is absolutely frightening. Way too often, the mainstream media simply takes the information thatit is being fed and packages it as “truth” for an unsuspecting public. And since the general public does so little critical thinking at this point, most of the time the misinformation that is being foisted upon us goes virtually unchallenged. That is one ofthe reasons why my articles have become so popular over the years. I am not afraid to challenge the official narratives, and I encourage my readers to think for themselves and to come to their own conclusions. There is so much misinformation that I could discuss, but in this article I am going to focus on some of the recent economic lies that we have been told. On Friday, NPR was thrilled to report that the U.S. economy “added 467,000 jobs last month”… The U.S. job market came through January in much better shape than expected despite a winter wave of coronavirus infections. Employers added 467,000 jobs last month, according to a new tally from the Labor Department, far outpacing even the most optimistic forecasts. The gains came despite a surgein COVID-19 cases tied to the omicron variant. But the U.S. economy did not add 467,000 jobs last month. It actually lost 2.8 million jobs. So how does a loss of 2.8 million jobs become a gain of 467,000 jobs? That is where “seasonal adjustments” come in, and as one expert quoted by Zero Hedge noted, “there has never been a January Seasonal Adjustment of this magnitude”… At this point the answer what is behind the massive January beat should be becoming clear: how did a -2.8 million actual drop in jobs translate into an adjusted 467K? Ifyou said seasonal, covid and population control adjustments, you are right. And to be sure, this is something both we and others flagged, when we lamented that month after month, the BLS appeared to be using stale seasonal adjustments. But digging deeper shows that this was not just an ordinary seasonal adjustment. As SouthBay Research notes in his NFP postmortem, “there has never been a January Seasonal Adjustment of this magnitude” In other words, what we just witnessed was “the mother of all seasonal adjustments”, and the end result was definitely welcomed by the Biden administration. But anyone that actually believes that the U.S. economy magically added 467,000 jobs last month is not dealing with reality. Meanwhile, we are getting a cold, hard reality check when it comes to our ongoing supply chain crisis. The Biden administration assured us that 2022 would be different. We were told that they were on top of this crisis and that they were taking emergency measures to makethings better. Theoretically, once we got past the challenging period of the holiday season economic demand would drop and congestion throughout our supply chains would ease. But that hasn’t happened. Instead, we continue to get indications that things are getting even worse. On Friday, Ford announced that it would “temporarily halt or scale back” production at eight facilities in North America because of a lack of computer chips… Difficulties in obtaining semiconductor chips will prompt Ford Motor to temporarily halt or scale back auto production at eight plants in North America, the company saidFriday, according to reports. The announcement by the major U.S. automaker – set to take effect next week — continued a series of supply-chain setbacks that have affected the nation’s economy in recentmonths. That is really bad news. Does this mean that we are facing yet another year of insanely high vehicle prices? During a call with reporters on Friday, U.S. Commerce Secretary Gina Raimondo actually admitted that there isn’t going to be any quick fix for the chip shortage… U.S. Commerce Secretary Gina Raimondo warned during a call with reporters on Friday that there will be no quick fix to resolve the semiconductor shortage contributing tosupply chain disruptions causing a ripple effect across the economy. “We didn’t get in this mess overnight, and we’re not going to get out overnight. This has been a problem decades in the making,” she explained. “There has been a slow deteriorationof our manufacturing base in America over decades, and we need to start now to rebuild.” For once, someone in the Biden administration has made a good point. We never should have allowed ourselves to become so dependent on chip production from Asia. Today, the majority of the chips that we use are made in Taiwan. So, what happens to our economy if China invades Taiwan? You might want to think about that. Other shortages continue to intensify as well. For example, the following comes from an article about our nationwide baby formula shortage… Claire Salter, an Operation Give Back volunteer in Blue Ash, says she’s very worried because there’s not much baby formula left on the nonprofit organization’s pantry shelves. “It terrifies me,” said Salter. “These six or seven, eight cans we have — that’s all we have right now,” she added. If I discussed all of the major shortages that we are facing right now, it would take me weeks to finish this article. In fact, the CEO of a chain of convenience stores in Texas recently admitted that his company is “probably averaging 6,500 to 8,000 outs a week from manufacturers”… Kevin Smartt, CEO of Texas-based convenience store chain TXB (which stands for Texas Born) has been closely monitoring weekly product availability reports from his distributors. The company operates 50 stores across Texas and Oklahoma. Each location is an average of 4,500 square feet, serving a mix of freshly-prepared foods like tacos, salads andsandwiches plus a variety of grab-and-go packaged goods. Some locations also sell fruits and vegetables. “Here’s the magnitude of the problem right now,” Smartt said. “As a chain, we’re probably averaging 6,500 to 8,000 outs a week from manufacturers,” he said. ‘Outs’ refersto a specific branded product that is out of stock and can’t be delivered that week. In other words, his chain is having to navigate an environment in which thousands upon thousands of products that they regularly order are in short supply. This is really happening. So many of the trends that you have been warned about for years are coming to a crescendo in 2022. Of course the Biden administration would like you to believe that a wonderful new era of peace and prosperity is just around the corner. You can believe them if you want. But I would recommend examining all of the evidence and coming to your own conclusions. Things just keep getting worse, and at this point it is hard to imagine how anyonecan be optimistic about the months ahead. ----------------------------------- We Have Never Been More Vulnerable, And The Stage Has Now Been Set For A Complete And Total Economic Collapse- by Michael Snyder - http://theeconomiccollapseblog.com/we-have-never-been-more-vulnerable-and-the-stage-has-now-been-set-for-a-complete-and-total-economic-collapse/ Teetering on a precipice can seem exciting until something comes along that knocks you over the edge. Unfortunately, the events of the past couple of years have perfectlyset the stage for a global economic collapse of unprecedented size and scope. Inflation is out of control all over the planet, the worst global supply chain crisis since World War II continues to get worse with each passing day, and the vast majority of theglobal population is just barely scraping by from month to month. In other words, we have never been more vulnerable than we are right now. Even in the United States, a shockingly high percentage of the population literally lives on the brink of financial disaster. According to a brand new survey that was justreleased, seven out of every ten Americans are currently living paycheck to paycheck� In these tough financial times, a new study finds it�s getting harder and harder for people to save any of their money. In fact, seven in 10 Americans say they�re livingpaycheck to paycheck. A recent survey of 2,007 adults found that 63 percent don�t see themselves reaching a level of financial security that will allow them to live the lifestyle they want. Most people do not have a sizable financial cushion to fall back on. And even though our leaders in Washington have absolutely flooded the system with new money over the past two years, more than two-thirds of the country is living paycheckto paycheck. As bad as things have been, it is only a matter of time before another major crisis of some sort comes along. So what is going to happen when the other shoe finally drops? During this pandemic we have also seen global supplies of just about everything get tighter and tighter and tighter. In fact, the head commodity strategist for Goldman Sachs just publicly admitted that the world is now facing shortages of virtually all major commodities� In a time when social networks have been swamped with photos of empty shelves from across the nation, Goldman�s head commodity strategist and one of the closest-followedanalysts on Wall Street, said he�s never seen commodity markets pricing in the shortages they are right now. �I�ve been doing this 30 years and I�ve never seen markets like this,� Currie told Bloomberg TV in an interview on Monday. �This is a molecule crisis. We�re out of everything,I don�t care if it�s oil, gas, coal, copper, aluminum, you name it we�re out of it.� Read that last paragraph again. This is a really big deal. You may not realize it yet, but this isn�t just a temporary global supply chain crisis. This is the beginning of a global supply chain collapse. So what is going to happen when the other shoe finally drops? All over the planet, way too much money is chasing way too few goods and services. This is driving up prices at a staggering pace, and we continue to get more troubling news with each passing day. For example, even though meat prices have already gone up very aggressively, Tyson Foods just announced that it will be raising prices yet again� Stock of Tyson Foods, the world�s second largest processor and marketer of chicken, beef, and pork after Brazil�s JBS S.A., is soaring 9%, hitting an all time high and isone of the S&P�s best companies this morning� � after the company reported blowout earnings (thanks to passing on surging food prices) and announced that it is raising prices even more as it grapples with a tight labormarket and smaller livestock herds. According to the report, beef prices jumped by 32% in the quarter, with chicken up ~20% and pork 13%. Of course similar things are happening in other industrialized nations all over the globe. One British news sources is telling us that the economy in Germany �is in freefall� and that �devastating� price hikes are causing a tremendous amount of pain for consumersover there. So what is going to happen when the other shoe finally drops? Needless to say, a lot of people can see what is coming and they are taking steps to get prepared. Earlier today, I came across a Wall Street Journal article that lamented the fact that so many Americans are engaged in �hoarding�� Alexis Abell recently walked out of a BJ�s Wholesale Club outside Buffalo, N.Y., with 24 boxes of Kraft Macaroni & Cheese, a box of 50 frozen mozzarella sticks, a 40-poundbag of basmati rice and a 12-can pack of garbanzo beans. �I don�t want to be in a position again where I can�t get something,� says Ms. Abell, a 41-year-old mother of five, who was laid off from her retail job at a quilt shopin 2020 and decided not to return to work. I don�t call this �hoarding� at all. I call it being smart. The stupid people are those that expect the government to bail them out when everything starts hitting the fan. As I have discussed previously, the federal government has a very limited amount of food, water and generators at eight widely scattered FEMA distribution centers aroundthe country. Other than that, the federal government purchases a very small amount of food that it distributes through foreign aid programs. In the event of a major national emergency, the government�s meager supplies will be totally gone almost immediately. Then you will be on your own. The elite realize that global food supplies are only going to get tighter, and so they have been preparing for a time when bug protein will make up a significant chunk ofour diets. Doesn�t that sound yummy? We are rapidly moving into a time when normal people won�t be able to afford to eat meat on a regular basis. Once that day arrives, where will you get your protein? Our world is changing at a pace that is absolutely breathtaking, but most people still want to believe that everything will go back to �normal� eventually. ------------------------------------ VISIT: PROPHECY WATCHER WEEKLY NEWS: HTTP://PROPHECY-WATCHER-WEEKLY-NEWS.BLOGSPOT.COM