19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago

By Michael Snyder, the Economic Collapse Blog.

American Flag Map - Public DomainHas the U.S. economy gotten better over the past six months or has it gotten worse?  In this article, you will find solid proof that the U.S. economy has continued to get worse over the past six months.  Unfortunately, most people seem to think that since the stock market has rebounded significantly in recent weeks that everything must be okay, but of course that is not true at all.  If you look at a chart of the Dow, a very ominous head and shoulders pattern is forming, and all of the economic fundamentals are screaming that big trouble is ahead.  When Donald Trump told the Washington Post that we are heading for a “very massive recession“, he wasn’t just making stuff up.  We are already seeing lots of things happen that never take place outside of a recession, and the U.S. economy has already been sliding downhill fairly rapidly over the past several months.  With all that being said, the following are 19 facts that prove things in America are worse than they were six months ago…

#1 U.S. factory orders have now declined on a year over year basis for 16 months in a row.  As Zero Hedge has noted, in the post-World War II era this has never happened outside of a recession…

In 60 years, the US economy has not suffered a 16-month continuous YoY drop in Factory orders without being in recession. Moments ago the Department of Commerce confirmed that this is precisely what the US economy did, when factory orders not only dropped for the 16th consecutive month Y/Y, after declining 1.7% from last month

#2 Factory orders have now reached the lowest level that we have seen since the summer of 2011.

#3 It is being projected that corporate earnings will be down 8.5 percent for the first quarter of 2016 compared to one year ago.  This will be the fourth quarter in a row that we have seen year over year declines, and the last time that happened was during the last recession.

#4 Total business sales have fallen 5 percent since the peak in mid-2014.

#5 S&P 500 earnings have now fallen a total of 18.5 percent from their peak in late 2014.

#6 Corporate debt defaults have soared to the highest level that we have seen since 2009.

#7 The average rating on U.S. corporate debt has fallen to “BB”, which is lower than it has been at any point since the last financial crisis.

#8 The U.S. oil rig count just hit a 41 year low.

#9 51 oil and gas drillers in North America have filed for bankruptcy since the beginning of last year, and according to CNN we could be on the verge of seeing the biggest one yet…

Shale oil driller SandRidge Energy (SD) warned there was “substantial doubt” it would survive the oil downturn. The Oklahoma City company said this week it is exploring a potential Chapter 11 bankruptcy filing.

Based on its $3.6 billion of debt, SandRidge would be the biggest North American oil-focused company to go bust during the current downturn, according to a CNNMoney analysis of stats compiled by law firm Haynes and Boone.

#10 According to Challenger, Gray & Christmas, job cut announcements by major firms in the United States were up 32 percent during the first quarter of 2016 compared to the first quarter of 2015.

#11 Consumers in the United States accumulated more new credit card debt during the 4th quarter of 2015 than they did during the entire years of 2009, 2010 and 2011 combined.

#12 Existing home sales in the U.S. were down 7.1 percent during the month of February, and this was the biggest decline that we have witnessed in six years.

#13 Subprime auto loan delinquencies have hit their highest level since the last recession.

#14 The Restaurant Performance Index in the U.S. recently dropped to the lowest level that we have seen since 2008.

#15 Major retailers all over the country are shutting down hundreds of stores as the “retail apocalypse” accelerates.

#16 If you take the number of working age Americans that are officially unemployed (8.1 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (93.9 million), that gives us a grand total of 102 million working age Americans that do not have a job right now

#17 Since peaking during the 3rd quarter of 2014, U.S. exports of goods and services have been steadily declining.  This is something that we never see outside of a recession…

Exports Of Goods And Services - Public Domain

#18 The cost of everything related to medical care just continues to skyrocket even though our wages are stagnating.  According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year, and yet the cost of medical care just hit a brand new all-time high…

Medical Care Services

#19 Our government debt continues to spiral out of control.  At this point it is sitting at a staggering total of $19,218,516,838,306.52, but when Barack Obama first entered the White House it was only 10.6 trillion dollars.  That means that our government has been stealing an average of more than 100 million dollars an hour from future generations of Americans every single hour of every single day since Barack Obama was inaugurated…

Federal Debt

How in the world can anyone look at those numbers and suggest that everything is okay?

I simply do not understand how that could be possible.

Part of the problem is that Americans have been trained to be irrationally optimistic.  It is fine to have an optimistic outlook on life, but when it causes you to throw logic and reason out the window that is not good.

For example, you can be “optimistic” about your ability to fly all you want, but if you step off a 10 story building you are going to take a very hard fall to the ground.

Similarly, you can ignore all of the facts and pretend that our economic prosperity is sustainable all you want, but it won’t change the fundamental laws of economics.

On a personal note, I would like to thank everyone that has helped make my new book the #1 new release in Christian eschatology on Amazon.com.  I understand that a lot of my secular readers are not going to understand my fascination with Bible prophecy, and that is okay.  I felt that I needed to write this book to address some very serious errors that are being taught in churches all over America today, and I also wanted to inspire believers to face the great hardships and persecution that are coming.

Just because very difficult times are approaching does not mean that it will be time to run and hide.  My wife and I always live our lives with no fear, and when things get crazy we believe that it will be an opportunity to do even more good.  We believe that the greatest chapters of our lives are still ahead of us, and we want people to understand why they can look forward to the future even though great darkness is rising all around us.

So yes, I definitely carry a message of warning.

But I also bring a message of hope.

As we look toward the future, there is much to be concerned about, but there are also things happening that are worth getting extremely excited about.

It is when times are the darkest that the light is needed the most, and very soon light will be greatly, greatly needed in the United States of America.

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  • Lynn Walker

    “I felt that I needed to write this book to address some very serious errors that are being taught in churches all over America today” – Another self-appointed savior to tell us how we can save ourselves.

    Any moron who believes Snyder has been gifted with divine understanding of the book of lies deserves to be cheated. I’ll come right out and say it, religiously speaking, Snyder hasn’t a clue.

    • Brockland A.T.

      Its what christianity does. They’re groping for the next great cultural paradigm to hijack as their own.

      • jadan

        Snyder is trying very hard to hijack the “survivalist” cultural paradigm and making a tidy income in the process, but this is nothing new, this end times eschatology and it isn’t even interesting any more. We can see that it’s not an angry god that’s going to blow us up, but we ourselves. It’s the same stuff the raving religious looney John of Patmos came up with when he scrawled the “Book of Revelation” maybe 1500 years ago. The story’s got legs, that’s certain. Supposedly the Apostles were expecting Christ to return in their lifetimes, which is also Snyder’s expectation. The “End Times” gospel is what the Christian religion is all about. Christianity isn’t going to be doing much cultural hijacking. It hasn’t got much moxie left. Billy Graham and Pat Robertson are essentially entertainment for Grandma whose been watching too much tv since Grandpa died.

    • kimyo

      did you read his book? on what basis are you making the assertion that he has no relevant knowledge?

      the catholic priests who have abused tens of thousands of children, are they ‘qualified to represent god’s teachings’?

      is murder not the ‘most serious of all possible sins’?

      • Lynn Walker

        No, misrepresenting God’s teachings is the most serious of sins.

        I would never suggest that catholic priests are qualified to represent God’s teachings, they represent the compromised teachings of Paul and Roman pagans.

        I don’t need to read this book to recognize it’s irrelevancy. The bible is suspect as legitimate scripture, revelations is a concoction, and the christian belief in imminent rapture is escapism for weak-minded followers who won’t do the hard work of following.

        Let’s break this wide open. Judaism, Christianity, Islam are remedial teachings presented to the world’s most barbaric “monotheists”, to get them back on the path of right conduct. They were each of benefit to early followers but the deviation from original teachings has relegated them all to the status of virtual uselessness. Changing the teachings, misinformation, is the greatest of sins because it deprives future generations of the grace God’s granted. Snyder joins a long line of “correctors” who destroy God’s message and turn it into something devoid of authentic experience, a tool of exploitation and control.

        The oldest, most comprehensive and authentic of scriptures is the Vedas. This is what is meant to be the Word of God. I say this as a person born and raised Christian, followed sincerely until the falsity of the teachings impelled me to ask God for truth.

  • tom

    “#7 The average rating on U.S. corporate debt has fallen to “BB”, which is lower than it has been at any point since the last financial crisis”.

    Gosh – that’s slightly worse than the Russian government’s credit rating!

    • rwmctrofholz

      As determined by who? Standard and Poors? Who got sued when they downgraded the United States’ credit rating. Sounds legit.

  • Scott R.

    I never take anything Michael Snyder says seriously, because it’s pretty difficult to listen to a guy who believes in fortune-telling magical numbers & mystical end-of-world dates & mythical prophecies pulled from the fictional book known as the Bible.

    • The topic is about economic numbers and not religion.

      You Atheists Are Irrational!

      https://youtu.be/SyKAr-gxxFE

    • You must hate the First Amendment then right?

      The First Amendment

      The First Amendment guarantees freedoms concerning religion, expression, assembly, and the right to petition. It forbids Congress from both promoting one religion over others and also restricting an individual’s religious practices. It guarantees freedom of expression by prohibiting Congress from restricting the press or the rights of individuals to speak freely. It also guarantees the right of citizens to assemble peaceably and to petition their government.

      Amendment I Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.

      https://www.law.cornell.edu/constitution/first_amendment

      ‘Religious Freedom is our First Freedom’

      • jadan

        You should read Michael Snyder’s other blog: endoftheamericandream.com and make yourself familiar with his fundamental irrationality. He’s intelligent, which is required if one is to be a lawyer, and he does a fair job of presenting the case for economic collapse, which is why GW features his essays here. He’s a cynical opportunist, though, and doing quite well for himself selling his Christian end times horseshit. Makes good money selling ads to survivalists. He’s peddling fear, and you will notice he has no solutions. This catastrophe is essential to his livelihood and his “redemption”. He’s a theocrat. Theocrats are fairly common in our political history. We are a nation built on religious mania. Joseph Smith ran for president in 1844 as a self-proclaimed theocrat. He was murdered by a mob in his prison cell. They hated the religious ass-hole trying to set himself up as God’s messenger. Snyder’s new world order ruled over by Jesus who returns at the end of time, is a Bible based political order, just as the new world order for radical islamists is a society based on Sharia law. We have religious freedom, which means people like Snyder can preach whatever particular line of bullshit they like. But I have the corresponding right ( and responsibility ) to point out what a fraud this guy is. It gets kind of amusing when the market keeps on doing well and the world does not fall into a smoking heap. Snyder gets very frustrated I’m sure, but he never gives up. He always finds some new source to boost his argument that we’re going to get our asses kicked by a vengeful God. He’s ingenious. I personally like to read Snyder and I agree that the global economy is a house of cards. And it’s a damn shame that he’s profiting from all his short-selling.If he had something constructive to say, he has the capacity to do some good. But the end times gospel is not a constructive story. It’s defunct Christian bullshit…

        • “Where all men think alike, no one thinks very much.” Walter Lippmann

          I suggest keeping your foul mouth shut, and to yourself! What would Carl think?

        • This must be you jaden in this clip. Obama Supporters Petition to Repeal the FIRST AMENDMENT Seriously!

          Obama supporters were asked to sign a petition to repeal the FIRST AMENDMENT in order to help Obama, and many of them did. Seriously. They Did.

          https://youtu.be/SpHOaW99ST4

      • Scott R.

        Why in the world would I ever be against the First Amendment?!? That is insane. I am all about the Constitution and individual liberties. Michael is free to believe whatever he wants and say whatever he believes. All I said is that I would personally never take what he says seriously.

  • January 31, 2016 US national debt accelerating at over a trillion/year in our asset-hole ‘debt supply’ system; demanding monetary reform & public banking yet?

    The US federal government debt is now $19 trillion, having risen over a trillion each year of the Obama administration.

    http://www.washingtonsblog.com/2016/01/us-national-debt-accelerating-trillionyear-asset-hole-debt-supply-system-demanding-monetary-reform-public-banking-yet.html

    • Jimbosskow

      Buy gold and silver ( the only US money’s ) and you and your family will be alright.

  • ICFubar

    Neo liberal economics and imperial globalism is a inevitable out growth of capitalism. If capitalism is not heavily regulated this is what you will get every single time, a degeneration into a feudal – fascist system.

  • carefix

    It is all looking fairly horrible right now. I do feel that bringing in a religious aspect rather downgrades the message and the source. I am not saying Snyder is not right in his religious perspective but that it is not right to introduce it within an economics writing. These issues exist at different abstraction levels. They can be right or wrong independently of each other and so should be kept seperate to avoid an exasperating confusion for those not comfortable with abstraction or without feeling the need to buy into one abstraction level in order to accept the validity of the other.

    By all means give a pointer (link in this case) to the religious abstraction but keep them apart as far as is possible. It causes alienation to mix them.