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<\/a>The economic meltdown that is coming should not be a surprise to anyone.\u00a0 Throughout U.S. history, there have always been signs that a major downturn was coming, and that is precisely what we are witnessing right now.\u00a0 Tax revenues are way down, demand for trucking services is way down, demand for cardboard boxes\u00a0is way down<\/a>, the money supply is shrinking\u00a0at the fastest pace in modern history<\/a>, and the Conference Board\u2019s index of leading economic indicators has already declined\u00a0for 15 months in a row<\/a>.\u00a0 At this point, anyone that cannot see what is coming has got to be willingly blind.\u00a0 The following are 7 trends which indicate that economic disaster is approaching very rapidly\u2026<\/p>\n#1<\/strong>\u00a0When economic activity slows down, less tax revenue comes in.\u00a0 Right now, federal government and state government tax revenues\u00a0are declining precipitously<\/a>\u2026<\/p>\n US state and local governments just experienced the worst decline in income tax revenues ever recorded.<\/p>\n This was the second steepest year-over-year percentage decline in history, with only the GFC having a worse outcome.<\/p>\n Note that Federal tax receipts are also dropped again, now at recessionary levels and approaching -10% on a YoY basis.<\/p><\/blockquote>\n #2<\/strong>\u00a0When the economy slows down, trucking companies see less demand for their services.\u00a0 So it is deeply alarming that truck freight volume and spending\u00a0absolutely plummeted<\/a>\u00a0during the second quarter\u2026<\/p>\n Truck freight volume and spending in the second quarter of 2023 declined by the highest levels since the early days of the pandemic, the latest U.S. Bank Freight Payment Index revealed. Spending by shippers dropped 10.9% compared to the second quarter of 2022 while shipment volume dropped 9%, according to a statement from the Minneapolis-based bank.<\/p><\/blockquote>\n #3<\/strong>\u00a0Employment is supposed to be the \u201cbright spot\u201d for the economy, but the latest employment report shows that the U.S.\u00a0actually lost 585,000 full-time jobs last month<\/a>\u2026<\/p>\n Well, one look at this month\u2019s adjustment and it\u2019s literally a shocker: you will not hear anyone from the Biden admin or associated economist cheerleaders mention this, but\u00a0the BLS reported that in July the number of full-time jobs plunged by 585,000 to 134.274 million, the biggest monthly drop since record covid crash of 14.7 million jobs!<\/strong><\/p><\/blockquote>\n #4<\/strong>\u00a0U.S. employers have already announced more job cuts this year than they did in all of 2022, and the hits\u00a0just keep on coming<\/a>\u2026<\/p>\n CVS Health said Monday it is cutting approximately 5,000 jobs to focus more on healthcare services for its customers.<\/p>\n The move, which is supposed to help the company save money, will affect workers primarily in corporate jobs, the Wall Street Journal reported.<\/p><\/blockquote>\n #5<\/strong>\u00a0Thanks to rapidly rising interest rates, monthly costs for new homebuyers are\u00a0almost 20 percent higher<\/a>\u00a0than they were a year ago.\u00a0 This is absolutely crushing the housing market\u2026<\/p>\n The monthly cost for a potential homebuyer has surged nearly 20% compared with a year ago as prices remain elevated, according to new data.<\/p>\n During the four-week period ending July 30, the monthly mortgage payment for the typical U.S. homebuyer sat at $2,605, 19% higher than the same period a year earlier, according to Redfin.<\/p><\/blockquote>\n #6<\/strong>\u00a0The fact that delinquency rates for commercial real estate mortgages\u00a0are skyrocketing<\/a>\u00a0is yet another sign that we are in the early stages of the worst commercial real estate crisis in all of U.S. history\u2026<\/p>\n The delinquency rate of commercial real estate mortgages on office properties that had been securitized into Commercial Mortgage-Backed Securities (CMBS) spiked to 5.0% by loan balance in July, up from a delinquency rate of 2.8% in April, having now spiked by 2.2 percentage points in three months, by far the biggest three-month spike in the data going back to 2000, and by 3.4 percentage points so far this year, by far the biggest seven-month spike, according to Trepp, which tracks and analyzes CMBS.<\/p><\/blockquote>\n #7<\/strong>\u00a0The share of the U.S. population that cannot even afford\u00a0\u201ca $400 emergency expense\u201d<\/a>\u00a0just continues to go up\u2026<\/p>\n \u201cThe share of U.S. adults who said they would cover a $400 emergency expense with cash or equivalents dropped by 2 percentage points from the previous quarter to 46%, highlighting how cash-strapped many Americans are despite the recent decrease in headline inflation,\u201d according to the survey developed by Bloomberg and conducted by intelligence company\u00a0<\/em>Morning Consult<\/em><\/a>.\u00a0<\/em><\/p><\/blockquote>\n But Joe Biden and his defenders continue to insist that everything is just fine.<\/p>\n In fact, Joy Behar is quite certain that\u00a0\u201cthe economy is booming\u201d<\/a>\u00a0right now\u2026<\/p>\n Leftist Joy Behar \u2014 who reportedly earns $7 million annually as a co-host on \u201cThe View\u201d \u2014 said on Friday\u2019s program that \u201cthe economy is booming\u201d and \u201cpeople are having an easier time putting bread on the table\u201d in a passionate defense of President Joe Biden.<\/p><\/blockquote>\n For those that are making millions of dollars a year, I am sure that everything must seem great.<\/p>\n But for the rest of us, things are tough.<\/p>\n Meanwhile, our banks continue to experience really weird \u201ctechnical glitches\u201d.\u00a0 For example, in recent days many Wells Fargo customers have been greatly upset\u00a0about money disappearing from their accounts<\/a>\u2026<\/p>\n On X, the platform formerly known as Twitter, users complained about their disappearing funds. One bank customer said they saw the news about the problem right as they noticed their deposits weren\u2019t in their account.<\/p>\n \u201cRight before this popped up in the news I saw that my deposits weren\u2019t in my account,\u201d their tweet read. \u201cI was trying to pay bills and none would go through. This is so unacceptable.\u201d<\/p>\n The company responded in a statement to CNN that a \u201climited amount\u201d of their customers are experiencing the disappearing deposits. They said most of them were \u201cresolved\u201d and that they would fix the problem soon.<\/p><\/blockquote>\n This is another example which shows why it is wise to never keep all of your eggs in one basket.<\/p>\n Our financial institutions are far more vulnerable than most people realize, and the cyberattacks that we have seen so far are just a small preview\u00a0of what is coming<\/a>.<\/p>\n Unfortunately, most Americans don\u2019t understand any of the things that I have discussed in this article.<\/p>\n Most Americans are simply trusting that our leaders have everything under control, and so they will be bitterly, bitterly disappointed when they finally realize the truth.<\/p>\n