Categories
Americans Crop Failures Crops expect the unexpected Farmers food supply damages Headline News heat Intelwars Megadrought Prepare Reality Records System of oppression tucson wake up Water

On The Verge Of The Unthinkable

This article was originally published by Michael Snyder at The Economic Collapse Blog. 

Over the past couple of years, we have become accustomed to expecting the unexpected, but soon we may have to start anticipating the unthinkable.  In this article, I am going to be discussing a couple of potential scenarios that would have been unimaginable to the vast majority of Americans just a few short years ago.  Unfortunately, our world is now changing at a pace that is absolutely breathtaking, and many things that were once “unimaginable” could soon become reality.

Let’s start by talking about the record-setting heatwave which is making the epic megadrought in the western half of the country even worse.  Many western farmers planted crops this year hoping that weather conditions would eventually turn in their favor, but that has definitely not happened.  In fact, at this point, 88 percent of the West is experiencing at least some level of drought.

2021 has been the worst year of this multi-year megadrought so far, and last week was the worst week for this drought up to this point in 2021.  Old temperature records were shattered all over the West, and some areas were already seeing triple digits by 8 o’clock in the morning

The West is in the midst of a record-breaking heat wave this week, as all-time records were shattered and daily records broken in over a dozen states.

Even by desert standards, the heat wave in the Southwest is atypical. On Thursday, the National Weather Service in Tucson tweeted that the city recorded a temperature of 100 degrees at 8:14 a.m., the second earliest time in the day recorded since 1948.

That is crazy.

Can you imagine hitting triple digits before you have even finished your morning coffee?

Summer had not even officially begun yet last week, and yet new all-time record highs were being established all over the place

Record-breaking temperatures spread from California to Montana this week. On thursday, the all-time high temperature was tied in Palm Springs, California at 123 degrees, breaking the previous June record of 122 degrees.

Salt Lake City tied its all-time record high of 107 degrees. The old record was notably set in July — when temperatures are usually at their highest for the year in that region. This comes after daily record highs were broken Sunday, Monday and Tuesday in Salt Lake, each with temperatures exceeding 100 degrees.

We have never seen anything quite like this in the state of Utah.

More than half of the state is in the highest level of drought, and thanks to dramatic water restrictions farmers are being forced to choose which of their crops will die

With drastic limits placed on what little water he has, Tom Favero said he and many farmers along this west side of Weber County were forced to watch some crops die. “We’ve all made serious choices of what fields we can water and what we can’t,” Favero said.

Another Utah farmer that lost a lot of corn and an entire field of barley said that it really “hurts” to see his hard work go to waste…

Farmer Dean Martini pointed at one of his fields. “That corn there, where I can’t water, I don’t have the water. It makes me sick to see it go to heck like that.”

With limits on amount and time, he said there wasn’t enough water flowing to make it across his fields. While some of the corn dried up, he had to let a whole field of barley go too. “It hurts buddy. That hurts,” Martini said.

Of course, this is just the beginning.

If this summer is as hot and as dry as they are projecting, we could see catastrophic crop failures all across the West.

And that is really bad news because the state of California alone produces more than a third of our vegetables and about two-thirds of our fruits and nuts.

A few years ago, hardly anyone would have imagined that we would be facing a crisis of this magnitude in 2021, but here we are.  Paleoclimatologist Kathleen Johnson is quite “worried” about what will happen this summer, and she is warning that this drought is shaping up to be the worst the region has experienced “in at least 1,200 years”

I’m worried about this summer – this doesn’t bode well, in terms of what we can expect with wildfire and the worsening drought. This current drought is potentially on track to become the worst that we’ve seen in at least 1,200 years.

Now I would like to shift gears.

A few years ago, hardly anyone would have imagined that we would be facing a very serious computer chip shortage in 2021.  In particular, the most sophisticated chips are really in short supply, and what most people don’t realize is that “almost all” of them are made by a single company based in Taiwan…

Taiwan Semiconductor Manufacturing Co. chips are everywhere, though most consumers don’t know it.

The company makes almost all of the world’s most sophisticated chips, and many of the simpler ones, too. They’re in billions of products with built-in electronics, including iPhones, personal computers and cars—all without any obvious sign they came from TSMC, which does the manufacturing for better-known companies that design them, like Apple Inc. and Qualcomm Inc.

Because manufacturing those chips is so exceedingly complicated, other companies can’t just plop down new factories and start pumping out their own chips.  Business leaders in the U.S. are now planning new factories, but it could take quite a few years before they are up and running.

So even under ideal conditions, the chip shortage will not be resolved for some time.

But what happens if China invades Taiwan within the next several years?  This is something that U.S. officials were warning about earlier this month

Concerns are growing in Washington over the possibility that China could try to invade Taiwan in the next few years.

Top U.S. military officers have warned in recent months that Beijing might try to make the explosive move this decade, and recent saber rattling, including a Chinese military amphibious landing exercise near the island, is further raising the alarm.

Can you imagine the chaos that it would cause for the global economy if the primary supply of advanced chips was suddenly cut off?

According to the Wall Street Journal, TSMC currently makes “around 92% of the world’s most sophisticated chips”…

Its technology is so advanced, Capital Economics said, that it now makes around 92% of the world’s most sophisticated chips, which have transistors that are less than one-thousandth the width of a human hair. Samsung Electronics Co. makes the rest. Most of the roughly 1.4 billion smartphone processors world-wide are made by TSMC.

Without TSMC, the global economy as it is structured today would not be able to function.

So the fact that China is being more aggressive than ever with Taiwan should deeply alarm all of us.  For example, check out what happened just last week

China has flown 28 warplanes into Taiwan-controlled airspace, the biggest sortie of its kind since the Taiwanese government began publishing information about the frequent incursions last year.

The flights are widely seen as part of an effort by Beijing to dial up pressure on Taiwan, a self-governed democracy of about 24 million people off the Chinese coast that the Chinese government considers a part of China.

We should have never allowed ourselves to become so dependent on foreign chips, but we did.

And now experts are telling us that the chip shortage will last into next year under the best of conditions…

Dimitris Dotis, the Audi brand specialist at Audi Tysons Corner dealership in Virginia, summed up the situation to customers. “Almost all microchips that go into all new vehicles including Audi come from TSMC in Taiwan,” he wrote. “They expect bottlenecks in the supply chain to last through 2022.”

Of course, if China does decide to invade Taiwan, the U.S. military will respond, and that would mean no advanced chips for us for the foreseeable future.

In this article, I have shared just two potential scenarios which could soon plunge us into unthinkable nightmares.

Needless to say, there are many, many more crisis points that bear watching right now as well.

We have reached such a critical moment in our history, and I expect global events to accelerate even more as we head into the second half of 2021.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd 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 FacebookTwitter, and Parler, and anyway that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The post On The Verge Of The Unthinkable first appeared on SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You.

Share
Categories
Central Banks COVID-19 death toll Debt Donald Trump economy crash Federal Reserve Headline News Income Intelwars job loss lockdown Lost Wages New York Records St Louis Fed unemployment United States

What Is America Going To Look Like With Tens Of Millions Of Unemployed Workers?

This article was originally published by Michael Snyder at The Economic Collapse Blog. 

In all of U.S. history, we have never seen a spike in unemployment like we are witnessing right now.  Last Thursday it was announced that more than 3.2 million Americans had filed new claims for unemployment benefits during the previous week, and many believe that the number that will be announced this Thursday will be even larger.

By the way, the previous all-time record for a single week was just 695,000.  So what is happening right now is absolutely nuts.  49 percent of U.S. companies anticipate conducting layoffs within the next 3 months, and the St. Louis Fed is projecting that the unemployment rate in this country will soon rise to 32 percent.  Before the coronavirus pandemic started shutting virtually everything down, approximately 158 million Americans were employed, and so we could soon have tens of millions of unemployed workers on our hands if the St. Louis Fed’s projection is accurate.

How are we possibly going to take care of them all?

To call this a “tsunami of unemployment” would be a massive understatement.  According to California Governor Gavin Newsom, more than 1.6 million residents of his state have filed for unemployment in recent weeks

It took the coronavirus pandemic less than a month to triple California’s unemployment rolls and plunge the state’s economy into a tailspin comparable to the Great Recession.

Gov. Gavin Newsom, in his daily update on the fight against COVID-19 on Tuesday, said “well over 1.6 million Californians” have filed for unemployment. A record 150,000 Californians filed claims Monday alone, he said.

Over on the east coast, New York Governor Andrew Cuomo is claiming that there are times when “hundreds of thousands of people” are trying to access his state’s unemployment website simultaneously…

New Yorkers are struggling to file claims for unemployment benefits, as applications have inundated the state’s Department of Labor. At a news conference Tuesday, Gov. Andrew Cuomo, a Democrat, acknowledged the state is having problems processing claims.

“I apologize for the pain—it must be infuriating to deal with,” he said. “The site is so deluged that it keeps crashing because you literally have hundreds of thousands of people at any time trying to get on the site.”

It is hard to imagine things “getting back to normal” in New York any time for the foreseeable future.  The number of cases in the state continues to explode, and this is starting to really affect even basic social services.  For example, more than 15 percent of all police officers in New York City “were out sick on Tuesday”

The novel coronavirus outbreak in New York City has taken a major toll on workers in health care, mass transit, and public safety, including the New York City Police Department.

The department reported on Tuesday that 1,048 uniformed members and 145 civilian employees have tested positive for the coronavirus. More than 5,600 officers (about 15.6% of its uniformed workforce) were out sick on Tuesday—more cops than serve in the entire Houston Police Department.

And the death toll is rising so rapidly in New York City that they are actually using a forklift to lift dead bodies into refrigerated trucks…

On Tuesday, a forklift was used to help lift dead bodies onto a refrigerated truck outside the Brooklyn Hospital Center. The COVID-19 death toll in the city is 1,139 and 47,439 confirmed cases and hospitals have been using bed sheets to wrap bodies because they no longer have body bags.

There is no way that America is going to “open for business again” as long as this virus continues to spread so rapidly.

The total death toll in the United States just crossed the 5,000 mark, and President Trump says that it could go as high as 240,000.  So it looks like we may have a long way to go before this pandemic is finally behind us.

Meanwhile, more Americans are losing their jobs with each passing day.  In fact, a brand new survey just discovered that 28 percent of Americans have already “lost wages or other personal income” during this crisis…

More than a quarter of Americans say they’ve already lost wages as the economic fallout from the coronavirus pandemic broadens, according to a new Grinnell College poll released Wednesday.

Twenty-eight percent of those surveyed said they’d already “lost wages or other personal income.” Another 16 percent said they were laid off or furloughed from work, and an additional 28 percent said they lost what they considered a “substantial amount” from a retirement account.

Without a doubt, the number that we are going to get from the Labor Department on Thursday is going to be bad.

Could it be even worse than the number that we saw last week?  Apparently that is what quite a few of the “experts” are anticipating

Economists surveyed by Bloomberg estimate a Labor Department report Thursday morning will show 3.5 million Americans filed initial applications for unemployment insurance last week, up from the record 3.3 million who sought benefits the prior week.

Some economists expect a far bigger total. Nomura forecasts 4.1 million; Morgan Stanley, 4.5 million; and Bank of America, 5.5 million. Such first-time jobless claims represent the best measure of layoffs across the country.

And it appears that we could keep getting more bad numbers for many weeks to come as vast portions of the country remain shut down.

At this point, some of our biggest corporations are bracing for a very, very long pause in operations.  This week, we learned that Ford has decided to keep its North American factories closed indefinitely

With what are sure to be ugly March sales numbers looming, Ford has now decided it is cancelling plans to re-start production in the U.S. and Mexico over the next two weeks. 

Citing risks associated with the coronavirus, the automaker has said the the suspension is “indefinite” and has not set a timeline to bring its facilities back online, according to Bloomberg. The company is currently working with the UAW to establish new guidelines for safety procedures before re-opening.

Of course, someday those factories will come back to life, and someday the entire country will try to resume normal activities.

But when that happens, it is likely that we could see another new wave of coronavirus cases.  Just look at what is happening over in China.  For a while, they have been claiming to have the virus under control, but this week they had to put an entire county in lockdown mode

A Chinese county that was largely unscathed by the novel COVID-19 coronavirus went into lockdown Wednesday, signaling fears of a possible second wave in the country where the virus originated, The South China Morning Post reports.

The county of Jia in Henan province, home to 600,000 people, is now in lockdown after infections reportedly spread at a local hospital. There were previously only 12 confirmed cases in Henan, despite it being situated just north of Hubei province, where China’s epicenter, Wuhan, is located. However, U.S. intelligence reportedly believes China under-reported the actual number of cases.

Officials all over the world are going to be balancing the need to protect life with the need to resume economic activity for a long time to come.

But even if every “shelter-in-place” order was immediately lifted all across America, a large portion of the population would still be deathly afraid of the coronavirus and economic activity would still be greatly depressed from previous levels.

Everyone needs to understand that the unsustainable debt-fueled prosperity that we were enjoying is not coming back, and our day of reckoning has finally arrived.

The “everything bubble” has finally burst, and Egon von Greyerz is warning that we are heading straight into “a collapse”…

I have for years warned about the enormous risks in the financial system that inevitably would lead to a collapse. As the bubble continued to grow for over ten years since the 2006-9 crisis, very few understood that the last crisis was just a rehearsal with none of the underlying problems resolved. By printing and lending $140 trillion since 2006, the problem and risks weren’t just kicked down the road but made exponentially greater.

So here we are in the spring of 2020 with debts, unfunded liabilities and derivatives of around $2.5 quadrillion. This is a sum that is impossible to fathom but if we say that it is almost 30x global GDP, it gives us an idea what the world and central banks will have to grapple with in the next few years.

All of the dominoes are going to be falling, and we are going to see financial chaos as we have never seen before.

We could have avoided this scenario if we had learned our lessons from the last financial crisis and had fundamentally rebuilt our financial system from the ground up using sound economic principles.

But instead, our authorities simply inflated all of the bubbles far larger than before, and now we will all have to live with the consequences.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse BlogEnd 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 have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations, I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. 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. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and anyway that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

Share