15 Facts That Prove the Economic Meltdown Has Already Begun

We remember how close we were to a total economic meltdown back in 2007-2009.  It was very, very close to the financial system imploding.  But God had other plans.  He allowed America to remain a little while longer.  Did we actually fix anything?  Nope!  We just doubled down by printing/creating trillions of dollars to inject “confidence” into the beleaguered system.  We have no idea if God will grant us a reprieve again.  Some are saying the next economic implosion has already started. If you want more evidence of the runaway train of US spending, pay attention to the end of the article.  Congress just passed a 4000 page spending bill with over a trillion more in spending and no one even read the bill.

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Economic conditions just keep getting worse.  As we prepare to enter 2023, we find ourselves in a high inflation environment at the same time that economic activity is really slowing down.  And just like we witnessed in 2008, employers are conducting mass layoffs as a horrifying housing crash sweeps across the nation.  

Those that have been waiting for the U.S. economy to implode can stop waiting, because an economic implosion has officially arrived.  The following are 15 facts that prove that a massive economic meltdown is already happening right now…

#1 Existing home sales have now fallen for 10 consecutive months.

#2 Existing home sales are down 35.4 percent over the last 12 months.  That is the largest year over year decline in existing home sales since the collapse of Lehman Brothers.

#3 Homebuilder sentiment has now dropped for 12 consecutive months.

#4 Home construction costs have risen more than 30 percent since the beginning of 2022.

#5 The number of single-family housing unit permits has fallen for nine months in a row.

#6 The Empire State Manufacturing Index has plunged “to a reading of negative 11.2 in December”.  That figure was way, way below expectations.

#7 In November, we witnessed the largest decline in retail sales that we have seen all year long.

#8 Even the biggest names on Wall Street are starting to let workers go.  In fact, it is being reported that Goldman Sachs will soon lay off approximately 4,000 employees.

#9 The Federal Reserve is admitting that the number of actual jobs in the United States has been overstated by over a million.

#10 U.S. job cuts were 417 percent higher in November than they were during the same month a year ago.

#11 A recent Wall Street Journal survey found that approximately two-thirds of all Americans expect the economy to get even worse next year.

#12 A newly released Bloomberg survey has discovered that 70 percent of U.S. economists believe that a recession is coming in 2023.

#13 Inflation continues to spiral wildly out of control.  At this point, a head of lettuce now costs 11 dollars at one grocery store in California.

#14 Overall, vegetable prices in the United States are more than 80 percent higher than they were at this same time last year.

#15 Thanks to the rapidly rising cost of living, 63 percent of the U.S. population is now living paycheck to paycheck.

In a desperate attempt to get inflation under control, the Federal Reserve has been dramatically increasing interest rates.

Those interest rate hikes are what has caused the housing market to crash, but Fed officials insist that such short-term pain is necessary in order to tame inflation.

But meanwhile our politicians in Washington are busy creating more inflation by borrowing and spending money at a rate that is absolutely unprecedented in our entire history.

This week, an abominable 1.7 trillion dollar omnibus spending bill is being rammed through Congress, but not a single member of Congress has read it.

 https://www.prophecynewswatch.com/article.cfm?recent_news_id=5807