It literally looks like a nuke went off and wiped out everything.  There have been plenty of fire disasters in California before, but never anything like this.  At this point, Accuweather is projecting that total economic losses will be “between $52 billion and $57 billion”…

The blazes — which are ripping through some of the nation’s priciest real estate — are likely to cause between $52 billion and $57 billion in damages and economic loss, according to a preliminary AccuWeather estimate.

That may sound like a very high estimate, but JPMorgan analyst Jimmy Bhullar came up with a very similar figure…

A separate estimate from JPMorgan analyst Jimmy Bhullar also pegged total economic losses from the LA fires at close to $50 billion, the Wall Street Journal reported Thursday. That total includes insured losses at more than $20 billion and “even more if the fires are not controlled,” Bhullar said.

Those losses would make the Los Angeles-area infernos the costliest wildfires in U.S. history.

Previously, the Camp Fire in 2018 was the most destructive wildfire in history — causing an estimated $12.5 billion in insured losses, WSJ said.

Read that last sentence again.

Prior to 2025, the costliest fire disaster in U.S. history caused 12.5 billion dollars in insured losses.

This disaster is going to beat that by a very wide margin.

One of the reasons why this disaster is going to be so costly is because homes are being destroyed in an area where home values are extremely high…

Some of the worst damage is located in Santa Monica and Malibu, where median home values are over $2 million, AccuWeather said.

On Thursday, multiple fires continued to spread all around Los Angeles.

Sadly, it was being reported that the Palisades Fire and the Eaton Fire were still zero percent contained…

Firefighters on Thursday continued to battle multiple deadly wildfires that erupted across Los Angeles, creating an apocalyptic scene as residents fled the raging infernos.

At least five fires were active in Los Angeles County, scorching more than 40 square miles across the region, according to Cal Fire. The Palisades Fire in the coastal Pacific Palisades community and the Eaton Fire, located east in the foothills of the San Gabriel Mountains, remained the largest blazes with 0% containment.

Why aren’t they able to contain these fires?

So far, over 2,000 structures have been destroyed, and more are catching fire with each passing hour…

Out-of-control blazes are still raging in Los Angeles, with firefighters unable to contain one of Southern California’s worst natural disasters in history.

Roughly 30,000 acres were on fire, and at least five people were dead early Thursday, with more than 180,000 residents ordered to evacuate, and more than 425,000 without power. More than 2,000 structures have been lost in the Pacific Palisades fire and in the Eaton fire in and around Altadena, with critical fire weather forecast through Friday night, local officials said. Forecasters said no rain is expected over the next week.

This disaster is far from over.

And what is making things even worse is that arsonists have apparently been trying to start additional fires.

In fact, podcaster Andrew D. Huberman says that he literally witnessed this happening…

Huberman, who has 5.2 million subscribers to his health podcast Huberman Lab, took to social media platform X to share the footage, urging people to ‘call in any activity’.

He wrote: ‘People are lighting fires in otherwise non-burning urban areas of LA.

‘Saw this happen first hand in Santa Monica. Called it in & fire dept & police responded.

‘Stay safe and call in any activity ASAP. We don’t need more flames out here.’

Why would anyone do such a thing?

Have they gone completely and utterly insane?

There should be absolutely no tolerance for anyone that is attempting to set new fires in the middle of a major fire emergency such as this.

In areas where fire has already come and gone, many are discovering that there is nothing left of their homes except for a pile of ash…

Some residents ventured back to areas the fire had already swept through, where brick chimneys were left looming over charred waste and burnt-out vehicles. The remnants of a tattered and scorched American flag flapped from a pole.

“I had just come from my family home where my mother lives that was burned to a crisp … And then I came up to my home and – same thing. It’s completely dust,” said Oliver Allnatt, 36, wearing ski goggles and a filtered face mask as he took pictures of the ruins. “Basically just a chimney stack and a pile of ash. I mean, it’s something out of a movie.”

Many of these homeowners will not be able to rebuild because they had their insurance policies canceled.

One woman that was interviewed by KABC was trying to ward off the fires with a garden hose because the home where her parents have lived for more than 70 years was no longer covered by fire insurance…

Lynne Levin-Guzman stood in the front yard of her 90-year-old parents’ home in Los Angeles County, California, trying to protect it with a garden hose — because their insurance company no longer would.

“I know I’m not supposed to be here, but this is my parents’ home and they just lost — they got canceled from their fire insurance. So they’re dealing with this,” she told CNN affiliate KABC. “They’ve lived in this house for 75 years and they’ve had the same insurance and these insurance people decided to cancel their fire insurance.”

“And they wonder why people leave California,” she added.

I couldn’t have said it better myself.

As I discussed yesterday, I simply do not understand why anyone would still want to live in California at this stage.

Yes, there are good paying jobs in the state and the weather is nice.  But in recent years California has been hit by historic disaster after historic disaster.

Sadly, this is just the beginning.

A lot more chaos is on the way, and natural disasters will continue to be a major theme throughout the rest of 2025.

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

In recent years, large wildfires have become very common in California, but what we are witnessing right now is truly frightening.  The following are 12 things you should know about the apocalyptic “hurricane of fire” that is rampaging through southern California…

#1 The Palisades Fire has already destroyed approximately 1,000 structures…

More than a thousand homes, businesses and other buildings have burned and at least two people are dead in wildfires scorching communities across Los Angeles County, making this one of the most destructive firestorms to hit the region in memory.

In Pacific Palisades, the Palisades fire had charred more than 5,000 acres as of Wednesday morning, burning down to Pacific Coast Highway where it engulfed homes along the iconic stretch. About 1,000 structures, including many homes, have been destroyed in the fire, L.A. County Fire Chief Anthony Marrone said during a news conference Wednesday morning.

#2 As I write this article, we are being told that the Palisades Fire, the Eaton Fire and the Hurst Fire are all zero percent contained…

Gov. Gavin Newsom has declared a state of emergency as firefighters struggled to control the fires, all listed as 0% contained. Photos from the scenes showed homes engulfed in flames, and thousands of residences were threatened. Much of Los Angeles was enveloped in smoke.

#3 Wind gusts of up to 80 mph are quickly spreading the fires from one area to another…

“Wind gusts are expected to peak at 50-70 mph across portions of Southern California, with localized gusts of up to 80 mph,” according to Fieweger. This would be the case for communities like Santa Clarita and Riverside. An AccuWeather Local StormMax of 100 mph is most likely in the mountains.

Many hurricane-force wind gusts were recorded as of Wednesday morning. “For example, Hollywood Burbank Airport recorded a peak gust around 9 p.m. PST of 71 mph,” AccuWeather Meteorologist Danielle Ehresman said, “Additionally, gusts approaching 100 mph were recorded above 2,000 feet in the Santa Monica and San Gabriel mountains Tuesday night.”

#4 Los Angeles Mayor Karen Bass cut the city’s fire budget by 17.6 million dollars…

So, how did something like this happen? Well, reports suggest the powers that be refused to fill the reservoirs. And get this—while this is all unfolding, we’re discovering that DEI Mayor Karen Bass made massive budget cuts to the fire department, which is really strange, considering one of California’s most popular seasons is literally called “Fire.”

Karen Bass cut the fire department’s funding by a whopping $17.6 million.

#5 “Mayor Karen” is not even in Los Angeles right now.  As her city burns, she is in Ghana…

Furious Los Angeles residents tore into their absent Mayor Karen Bass, who was 7,400 miles away in Arica on a political trip as raging fires turned the City of Angels into an apocalyptic hellscape Tuesday.

“RESIGN! WHY ARE YOU IN GHANA?!,” one person commented on an X post by Bass’ office giving an update on the wildfires.

Bass traveled with three other people to Ghana for the inaguration of President John Dramani Mahama, who was elected last year.

#6 It is being reported that hydrants in the disaster zone are running dry…

Los Angeles fire hydrants are OUT OF WATER because the county REFUSED to refill reservoirs, per Rick Caruso

“You can’t fight a fire without water!”

The Mayor did ZERO prep despite the advanced warning of winds and fire risk.

This is EXACTLY what happened on Maui!

#7 Reporter Matthew Seedorff was actually there when a hydrant on Lachman Lane ran completely dry…

Around 4:45 p.m. Tuesday, a hydrant firefighters were using on Lachman Lane ran dry. You can hear what sounds like air pushing out, but no water.

#8 According to Amy Mek, the Santa Ynez and Upper Stone Canyon reservoirs were not supplying adequate water to hydrants…

How is it possible that in fire-prone Los Angeles, hydrants—our first line of defense—are dry when they’re needed most? Homes are being reduced to ash, not because firefighters lack skill or bravery, but because there’s no water to fight the flames.

Questions LADWP Must Answer:

Why are reservoirs like Santa Ynez and Upper Stone Canyon not supplying adequate water to hydrants?

Were maintenance or refill protocols ignored ahead of wildfire season?

What contingency plans were in place for such an emergency?

#9 Rick Caruso is blaming aging infrastructure for the lack of water…

Rick Caruso, billionaire real estate developer and former commissioner of the city’s water board, pointed to the reservoirs linked to the hydrants as the source of the problem. “This is a window into a systemic problem of the city — not only of mismanagement, but our infrastructure is old,” said Caruso, who ran unsuccessfully for Los Angeles mayor in 2022.

Recently, I wrote an entire article about America’s crumbling infrastructure.  Today, we are witnessing a perfect example of how the negligence of our politicians can have extremely severe consequences.

#10 Instead of being so focused on DEI, perhaps Los Angeles Fire Department Chief Kristin Crowley should have been more focused on actually fighting fires…

Then there’s Los Angeles Fire Department Chief Kristin Crowley, whom local ABC7 celebrated as “the first LGBTQ+ person to the lead the department, [and] also the first woman.” Her focus seems to have been less on fighting fires and more on launching the “Los Angeles Fire Department’s first-ever Diversity, Equity & Inclusion Bureau (DEI) focused on ensuring a safe, diverse, and inclusive workplace for all.”

#11 In 2024, large insurance companies such as State Farm and Allstate canceled large numbers of home insurance policies in Los Angeles County…

State Farm and Allstate recently stopped writing new policies in California due to fears they could lose massive amounts of money from natural disasters such as fires.

Newsweek reports, “In April 2024, State Farm—one of the biggest private insurers in the state—announced that it had canceled a total of 72,000 policies in California, 30,000 of which were homes. Many of those affected lived in high-risk, upscale neighborhoods in Los Angeles County, the area now affected by the Palisades fire.”

Actor James Woods lost his home to the Palisades Fire, and he says that insurance companies “canceled all the policies in our neighborhood about four months ago”…

Actually one of the major insurances companies canceled all the policies in our neighborhood about four months ago.

#12 The Palisades Fire has already been designated as “the most destructive fire in Los Angeles history”…

After destroying roughly 1,000 homes and buildings, the Palisades Fire — which has not been contained by the California Fire Department — is now the most destructive fire in Los Angeles history, the Associated Press reported.

The Sayre Fire in November 2008 previously held that record after it destroyed 604 structures in Sylmar, a northern suburb of Los Angeles.

This is truly a historic tragedy.

We should mourn for the lives that have been lost.

And we should also mourn with those that have lost their homes, because a lot of them did not have insurance.

Unfortunately, it is expected that the region will continue to be battered by high winds until Thursday, and so this is a story that is far from over.

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Of course the truth is that it all comes down to natural resources.

In particular, Greenland has lots and lots of oil.

According to Wikipedia, Greenland “has some of the world’s largest remaining oil resources”…

Some geologists believe Greenland has some of the world’s largest remaining oil resources:^[30] in 2001, the U.S. Geological Survey found that the waters off north-eastern Greenland (north and south of the Arctic Circle) could contain up to 110 billion barrels (17×10⁹ m³) of oil,^[31] and in 2010 the British petrochemical company Cairns Oil reported “the first firm indications” of commercially viable oil deposits.^[32]

The U.S. consumes an average of approximately 20 million barrels of petroleum per day.

So 110 billion barrels is a serious amount of oil.

And it also turns out that the Chinese are very interested in the rare-earth elements that are buried under the dirt in Greenland.  In fact, one particular area of Greenland is “home to one of the world’s largest undeveloped deposits of rare-earth elements outside of China”…

Kvanefjeld is home to one of the world’s largest undeveloped deposits of rare-earth elements outside of China. Seventeen elements, including scandium and yttrium, are buried deep underground there. They are used in everything from cell phones and wind turbines to electric cars. Mining advocates say tapping into them would be a major financial boon for Greenland.

Greenland Minerals Limited (GML), the Australian company developing the mine, said that the country would receive $240 million (€201 million) in taxes and royalties annually over the mine’s planned 37-year lifespan. GML’s biggest stakeholder is Shenghe Resources Holding, a Chinese rare-earths processing company.

It has been estimated that there are more than 38 million tons of rare earth deposits in Greenland.

So who will end up benefitting from those deposits?

Will it be the U.S. or will it be China?

On top of everything else, an extremely important U.S. military base is already located in Greenland…

Thule Air Base, already a vital U.S. military installation, provides early warning radar and monitors potential missile threats. Housing approximately 600 personnel, it plays a critical role in the U.S. missile defense network, covering threats across the northern hemisphere. Its strategic location enables unparalleled monitoring capabilities, reinforcing America’s defensive posture in the Arctic. Expanding this presence would fortify America’s Arctic strategy against rivals such as Russia and China, ensuring unparalleled leverage in the rapidly evolving Arctic theater.

If we lost that base, it would be an enormous strategic blow to the United States.

After considering all of the variables, Trump has decided that it is time for us to control Greenland.

In fact, he is threatening Denmark with very painful tariffs if they try to stand in the way…

US President-elect Donald Trump has threatened “very-high” tariffs on Denmark if it resists his effort to take control of Greenland, an autonomous Danish territory.

And on Tuesday, Trump actually refused to rule out the use of military force to take control of Greenland…

President-elect Donald Trump on Tuesday wouldn’t rule out exercising military or economic coercion to further his goal of bringing both Greenland and the Panama Canal under U.S. control, as his son, Donald Trump Jr., is in Greenland amid Trump’s push to acquire the autonomous territory of Denmark.

“I can’t assure you, you’re talking about Panama and Greenland,” Trump told reporters during a press conference at his Mar-a-Lago estate in Florida. “No, I can’t assure you on either of those two. But I can say this — we need them for economic security.”

Obviously, a military invasion of Greenland is something that should be completely off the table.

The rest of the world would be absolutely horrified if we invaded Greenland and made it part of the United States by force.

If Greenland is going to come under U.S. control, it must be done by diplomatic means.  Perhaps Donald Trump Jr.’s visit to the island is the beginning of that process…

Donald Trump Jr., son of President-elect Donald Trump, arrived in Greenland Tuesday with conservative activist Charlie Kirk amid a push to purchase the Danish territory.

“Don Jr. and my Reps landing in Greenland,” the president-elect posted on Truth Social.

“The reception has been great. They, and the Free World, need safety, security, strength, and PEACE!

“This is a deal that must happen. MAGA. MAKE GREENLAND GREAT AGAIN!”

In the end, it will be up to the people of Greenland to decide their future.

It is a land that has been dominated by Denmark for a very long time, but now it could soon be holding a referendum on independence…

Greenland, the world’s largest island, was a Danish colony until 1953, when it became an integral part of the Kingdom of Denmark. In 1979, it achieved home rule, and in 2009, self-governance, granting it control over domestic affairs while Copenhagen retained authority over defence and foreign policy. Crucially, the 2009 agreement provides Greenland with the right to declare independence through a referendum.

If Greenland votes for independence, it seems unlikely that they would be interested in giving that up just to become another U.S. territory.

Greenland Prime Minister Múte Bourup Egede insists that his country “will never be for sale”…

“Greenland is ours,” Egede also said. “We are not for sale and will never be for sale. We must not lose our long struggle for freedom.”

Egede was indeed responding to an assertion from Trump that the United States must acquire Greenland “for purposes of National Security and Freedom throughout the World.”

So I think that this is a deal that would be exceedingly difficult for Trump to make.

Of course this isn’t the first time that the United States has been interested in acquiring Greenland…

This is not the first time the US has shown interest in acquiring the island. Under President Andrew Johnson in 1867, the US State Department noted Greenland’s resources and location as ideal for acquisition but made no formal efforts.

Nearly a century later, President Harry S Truman offered Denmark $100 million for Greenland in 1946 after recognising its strategic value post-World War II. Truman also considered trading parts of Alaska for Greenland, though the deal never materialised.

Without a doubt, I think that Greenland would like to have very strong ties to the United States.

But I wouldn’t count on Greenland becoming part of the U.S. any time soon.

Needless to say, Trump will have so many other issues to focus on once he becomes president that the status of Greenland will probably quickly become an afterthought.

2025 is going to be such an important year for our nation and for the entire world, and the decisions that Trump makes during the months ahead will have enormous implications for all of us.

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

When I went to the grocery store on Friday, I spent about 45 dollars for just nine tubs of butter.  I could hardly believe my eyes, but after doing some digging I discovered that five dollars for a pound of butter is very close to the national average at this stage.

Of course in some areas it is even more expensive.  During an exchange on MSNBC’s Morning Joe program, Joe Scarborough was astounded to learn that the price of butter has reached 7 dollars in some stores in his area…

“It’s $7… I’m just saying it’s 7,” Brzezinski interrupted.

“Butter is $7… What, is it framed in gold?” Scarborough replied incredulously, with a look of shock on his face.

“It’s seven bucks…. it depends where you go,” Brzezinski stated somberly.

Europe is facing a similar crisis.

In fact, the price of butter in Europe jumped by an average of 19 percent during the 12 month period ending in October…

Across the 27-member states of the European Union, the price of butter rose 19% on average from October 2023 to October 2024.

That included a rise of 49% in Slovakia, and 40% in Germany and the Czech Republic, according to EU figures with reports indicating the cost has continued to rise.

But they keep telling us that inflation is under control.

Yeah, right.

Egg prices have been rising even more rapidly.

In some areas of California, a carton of 12 eggs will now cost you 9 dollars…

Egg prices in California have reached unprecedented levels, with some areas reporting costs as high as $9 per dozen. This surge is largely attributed to the ongoing impact of Highly Pathogenic Avian Influenza (HPAI), commonly known as bird flu, which has significantly disrupted egg supply across the United States.

The price escalation in California is particularly notable. While the national average for a dozen Grade A large eggs hovers around $3.20, in California, the average price for a carton of white cage-free eggs has hit $5.11. However, in certain regions, consumers are seeing prices nearly double that amount.

I vividly remember when you could buy a carton of 12 eggs for less than a dollar. Sadly, those days are long gone and they aren’t coming back.

It is being reported that egg prices have risen 160 percent since 2019, and they are expected to go substantially higher in 2025 because of the bird flu.

If you love coffee, you should be aware that coffee prices are also being projected to continue to rise at an exponential rate in 2025.

Can you imagine paying 8 dollars for a single cup of coffee?  Well, those that live in Australia could be doing exactly that by the end of this calendar year…

Coffee lovers could soon not be able to justify buying their caffeine fix daily with experts warning single cup could cost from $8-$12 by the end of 2025.

A confluence of factors has pushed Arabica bean prices into the stratosphere.

If you can believe it, the price of a pound of Arabica beans jumped more than 80 percent in 2024…

The warning comes as the price of Arabica beans, the world’s most popular variety, continues to rise.

Buying a pound of the bean variety topped US $3.44 on December 10, having risen more than 80 per cent in 2024.

Chocolate prices are entering unprecedented territory as well.

In 2024, cocoa futures actually tripled in price…

Prices for chocolate’s main ingredient have almost tripled since the start of 2024 as faltering production in West Africa — the world’s biggest growing region — led to massive supply shortages, the publication wrote, citing exchange data.

In early January, cocoa futures traded at around $4,000 per tonne. In mid-December they peaked at $12,700 per tonne, according to data from Trading Economics.

As this price shift starts filtering down to the consumer level, a lot of us won’t be able to afford to eat as much chocolate as we once did.

In fact, we have already reached a point where chocolate is being referred to as a “luxury” item.

If you love beef, I have more bad news for you.

According to Zero Hedge, cattle futures just hit another new all-time record high…

Cattle futures in Chicago surged to fresh record highs on Friday, driven by severe winter weather forecasts for the Central Plains and Midwest, two key regions home to the nation’s cattle belt. Analysts warn that the harsh conditions could reduce herd sizes and impact carcass weights, further tightening the nation’s cattle supply.

“While cattle can tolerate cold weather, extreme cold forces them to expend more energy, directly impacting feed conversion rates and ultimately reducing carcass weights,” Daily Livestock Report wrote in a note on Friday, warning that cattle weights fell 3% during last year’s cold blast across the Lower 48.

Demand for beef remains very robust, but the size of the U.S. national cattle herd just keeps shrinking.

At this point, it is the smallest that it has been since 1961.

So beef prices will just keep escalating in 2025.

You could try switching to chicken or turkey, but they are both becoming more expensive thanks to the bird flu.

The bottom line is that we are transitioning into an entirely new environment.

We were quite accustomed to living in a society that produced enormous quantities of extremely inexpensive food.

But now global food supplies are steadily getting tighter, and global food prices are steadily marching upwards.

Hunger is on the rise all over the world, and demand at food banks in the United States is higher than ever before.

Years in advance, I explained to my readers in excruciating detail where global food production trends would be taking us.

Sadly, it will not be possible for our leaders to reverse those trends.

Horrifying global food shortages are in our future, and I would suggest that you prepare accordingly.

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Of course the truth is that it is a problem that never went away.  There were dozens of major terror attacks in 2024, but most of the population is not going to pay attention unless something happens within our own borders.  Sadly, everyone is paying attention now.

Very early on New Year’s Day, a 42-year-old nut named Shamsud-Din Jabbar rammed a truck into a large crowd on Bourbon Street in New Orleans.  We are being told that 15 people are dead and dozens more are injured…

A man intentionally drove a pickup truck into a crowd of revelers on Bourbon Street in New Orleans’ French Quarter early on New Year’s Day, killing at least 15 people and injuring dozens of others, officials said.

A black ISIS flag was flying from the truck’s rear bumper, and the attack is being investigated as an act of terrorism, the Federal Bureau of Investigation said.

The man driving the vehicle has been identified as Shamsud-Din Jabbar, 42, a U.S. citizen from Texas, the FBI said.

So was this the end, or is this just the beginning?

The following are 10 questions that we should all be asking about the chaotic New Year’s Day terror attacks…

#1 Why did an FBI special agent initially tell us that the attack in New Orleans “was not a terrorist event”?  Something about all this does not smell right…

Multiple sources are reporting that the attacker in the deadly New Orleans attack that killed 10 people and injured dozens more was carrying an ISIS flag at the time of the attack, leading many to question how and why an FBI special agent confidently declared that the attack was “not a terrorist event” early on in the investigation.

Witnesses indicated that the attacker was flying a “large black flag” from his truck at the time of the attack, which would be consistent with a description of the ISIS flag. The FBI has since confirmed that the flag was, indeed, an ISIS flag, leading many to harshly criticize the FBI’s initial response to the attack, which flatly denied any connection to terrorism.

#2 What happened to the other “potential IEDs” that law enforcement found in the French Quarter?  The following is an excerpt from an official statement by the FBI…

Weapons and a potential IED were located in the subject’s vehicle. Other potential IEDs were also located in the French Quarter. The FBI’s special agent bomb technicians are working with our law enforcement partners to determine if any of these devices are viable, and they will work to render those devices safe.

#3 Shamsud-Din Jabbar had threatened to kill his own family before joining ISIS with the intention of committing terrorism on U.S. soil.  Did law enforcement know about any of this beforehand?  If so, why was nothing done?…

In a series of videos, the suspect in the deadly New Year’s attack in New Orleans discussed planning to kill his family and having dreams that helped inspire him to join ISIS, according to multiple officials briefed on the investigation.

Shamsud-Din Jabbar, the 42-year-old man who police suspect drove a pickup truck into a crowd of revelers on Bourbon Street, killing at least 15 people and injuring dozens more, made the chilling recordings while driving from his home in Texas to Louisiana, authorities believe.

Jabbar, a US citizen and Army veteran who served in Afghanistan, made reference in the videos to his divorce and how he had at first planned to gather his family for a “celebration” with the intention of killing them, two officials who had been briefed on the recordings said. But Jabbar said in the videos that he changed his plans and joined ISIS, and referenced several dreams that he had about why he should be joining the terrorist group, according to the officials.

#4 Did Shamsud-Din Jabbar act alone?  From the evidence that we have at this hour, it appears that he probably was not…

From the first news of the attack, Islamic State websites have been echoing with sick celebrations of the attack. This alone suggests that it was not the work of a lone wolf claiming to be an agent of IS, but was in fact organised from abroad by its underground HQ in the Middle East.

The fact that investigators found guns and concealed pipe bombs wired for remote detonation – as well as a corresponding remote control device inside the truck – was enough for the FBI to declare it does not believe the driver was acting alone.

#5 A Tesla Cybertruck exploded in front of Trump International Hotel in Las Vegas on Wednesday morning.  Was this attack linked to the attack in New Orleans?…

A Tesla Cybertruck burst into flames Wednesday morning just outside the entrance of Trump International Hotel in Las Vegas, killing one person and injuring several other people, local officials said.

The explosion is now being investigated as a possible terrorist attack, three senior members of law enforcement briefed on the matter told NBC News. A motive has yet to be established.

#6 Who made the “makeshift explosives” that caused the Tesla Cybertruck to explode?…

Police have released a series of photographs from inside the Cybertruck which blew up outside Trump International Hotel in Las Vegas, revealing an arsenal of makeshift explosives.

The driver of the Elon Musk-owned Tesla Cybertruck, who has not yet been formally identified, died in the explosion and seven members of the public were injured.

Charred fireworks, gas cannisters and camping fuel were found in the bed of the truck when authorities were finally able to put out the fire.

#7 The Ford truck used in the New Orleans attack and the Cybertruck used in the Las Vegas attack were both rented from Turo.  Is this an important clue?…

Musk claimed the Cybertruck and the Ford used in the New Orleans attack had both been rented by the same company.

He posted on his X platform: “Appears likely to be an act of terrorism.

“Both this Cybertruck and the F-150 suicide bomb in New Orleans were rented from Turo. Perhaps they are linked in some way.”

#8 Why are vehicles being used in so many Islamic terror attacks now?  According to USA Today, vehicle attacks have been “killing and injuring thousands of people internationally”…

Cheap and simple vehicle-based attacks have rapidly become one of the deadliest forms of terror assaults worldwide, killing and injuring thousands of people internationally since they began becoming more frequent after the COVID-19 pandemic.

Experts say a combination of factors have increased the number of vehicle attacks in recent years, notably the increased focus on outdoor events after the pandemic, ease of access to trucks or cars, and the uncomplicated nature of the approach itself.

#9 What policies will the incoming Trump administration enact in response to these attacks?  On Truth Social, Trump sounded very angry following the attack in New Orleans…

When I said that the criminals coming in are far worse than the criminals we have in our country, that statement was constantly refuted by Democrats and the Fake News Media, but it turned out to be true. The crime rate in our country is at a level that nobody has ever seen before. Our hearts are with all of the innocent victims and their loved ones, including the brave officers of the New Orleans Police Department. The Trump Administration will fully support the City of New Orleans as they investigate and recover from this act of pure evil!

#10 Are more terror attacks coming?  Thanks to years of very foolish policies, we now have vast numbers of people living in the U.S. that are supportive of terror organizations.  For example, just 12 hours after the attacks in New Orleans and Las Vegas, a “massive crowd of Hamas supporters” conducted a very large protest in Manhattan…

A massive crowd of Hamas supporters has taken over downtown Manhattan, NYC calling for a global intifada.

12 hours from the tragedy in New Orleans and Las Vegas and these people are doing this.

Do they have no shame?

As I alluded to in my headline, we were warned that this was coming. Now it is here. I am entirely convinced that a lot more chaos and a lot more violence are on the way.

We are far more vulnerable than most people realize, and the next time you find yourself in a crowded place I would recommend being in a constant state of high alert.

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Over the past several decades, our money supply has been growing at a pace that we have never seen before.

And once the pandemic hit, the growth of the money supply went into overdrive.

This is why the cost of living is so oppressive today.

There is simply way too much money floating around.

Over the past several decades, our national debt has also been growing at an exponential rate.

The system is designed to produce debt faster than it produces money.

That is why it will never be possible for us to pay off the national debt.

Sadly, most Americans don’t even understand what the Federal Reserve is.

One thing that the Federal Reserve is NOT is a government agency.  In fact, it is about as “federal” as Federal Express.  It is a private central bank designed to make money for the people who created it.  In fact, the Federal Reserve was the culmination of an effort by the international banking elite to force a permanent private central bank on the American people that began all the way back during the days of our Founding Fathers.

But don’t just take my word for it. The following are 21 quotes about central banking from past presidents, congressmen and other notable historical figures…

1. John Adams, the second president of the United States: “All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”
2. James Madison: “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance.”
3. Thomas Jefferson: “I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.”
4. Abraham Lincoln: “The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, and more selfish than bureaucracy. It denounces as public enemies all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe.”
5. James A. Garfield: “Whoever controls the volume of money in any country is absolute master of all industry and commerce.”
6. Woodrow Wilson: “A great industrial nation is controlled by it’s system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world–no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.”
7. Mayer Amschel Bauer Rothschild: “Give me control of a nation’s money and I care not who makes it’s laws”
8. Horace Greeley: “While boasting of our noble deeds were careful to conceal the ugly fact that by an iniquitous money system we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery.”
9. Sir Josiah Stamp, the former President of the Bank of England: “Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back.”
10. Rothschild Brothers of London, 1863: “The few who understand the system, will either be so interested from it’s profits or so dependent on its favors, that there will be no opposition from that class.”
11. Charles A. Lindbergh Sr. in 1913: “This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized….the worst legislative crime of the ages is perpetrated by this banking and currency bill.”
12. Charles A. Lindbergh Sr. in 1923: “The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money”
13. Congressman Louis T. McFadden: “The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers.”
14. Congressman Louis T. McFadden in 1932 just before FDR began his first term: “We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it.”
15. Franklin Delano Roosevelt: “The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson.”
16. Eustace Mullins: “As soon as Mr. Roosevelt took office, the Federal Reserve began to buy government securities at the rate of ten million dollars a week for 10 weeks, and created one hundred million dollars in new [checkbook] currency, which alleviated the critical famine of money and credit, and the factories started hiring people again.”
17. Congressman Wright Patman, Congressional Record, Sept 30, 1941: “The Federal Reserve bank buys government bonds without one penny…”
18. Senator Barry Goldwater: “Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States.”
19. Henry Ford: It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
20.  Lewis vs. United States, 680 F. 2d 1239 9th Circuit 1982: “The regional Federal Reserve banks are not government agencies. …but are independent, privately owned and locally controlled corporations.”
21. Boston Federal Reserve Bank: “When you or I write a check there must be sufficient funds in our account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money.”

Why isn’t this one of the biggest political issues in the country today?

The Federal Reserve is at the center of a controversy over central banking that has been around since the very beginning of the United States.  Unfortunately, the Federal Reserve system is so incredibly complex and the American people have been so “dumbed down” that the vast majority of the population literally has no idea how our system really works.

If we do nothing, things will continue to get even worse for ordinary Americans.

In 2001, 17 million people were on food stamps.

Today, more than 42 million people are on food stamps…

Food stamp enrollment has increased significantly in recent decades.

In fiscal year 2023, 42.1 million Americans received food stamps. This is 2.4 times the 17.3 million who were enrolled in FY 2001.

As the number of people receiving food stamp benefits has increased, the percentage of the U.S. population enrolled has also increased.

In fiscal year 2023, 12.6 percent of the total U.S. population received food stamp benefits. This is more than double the 6.1 percent in FY 2001.

One out of every four children in America now gets assistance from food stamps each month.  In fact, it is projected that half of all U.S. kids will be on food stamps at some point in their lives.

Our entire system is designed to funnel wealth to those at the very top of the pyramid at the expense of everyone else.

I have been writing about the evils of the Federal Reserve system for more than a decade, but sometimes it feels like I am banging my head into a wall.

What will it take for the American people to finally wake up?

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Doomsday prepping has become a bona fide area of investing, with experts putting the average annual growth of the survivalist sector at over 7% until 2030 and some 20 million Americans now identifying as “preppers”—about the size of entire states like New York.

That is a significant portion of our population.

And they are spending a ton of money.

One recent survey discovered that spending on prepping supplies reached about 11 billion dollars during one recent 12 month period…

The survey found that, collectively, preppers spent around $11 billion within a 12-month period. According to the survey, preppers tend to live in the Western part of the U.S. and spent the most money on basics like food, water and toilet paper.

As our society comes apart at the seams all around us, more Americans than ever are determined to achieve at least some level of self-sufficiency while they still can.

People from all across the political spectrum and that come from all walks of life are feverishly preparing for a very bleak future.

Of course there is not a general consensus about what that very bleak future will look like.

In this article, I am going to specifically address how to prepare for life in a post-apocalyptic world.  Many preppers are preparing for scenarios that are far less extreme.  The type of scenario that I am talking about in this piece is a situation where all of our major institutions are no longer functioning and society as we have known it has totally broken down.

What this means is that the items in the list that I am about to share with you will not be needed right now.  But if an apocalyptic event or a series of apocalyptic events suddenly brings our society to an end, you will definitely need them.

I am imagining a time when there will be no functioning supply chains, and so there will be nothing to buy in the stores.

And since there will be no functioning supply chains, you will not have access to gasoline or propane.

So I have not included any items that are dependent on gasoline or propane in my list.

Also, please keep in mind that this list is not comprehensive and is only intended to represent the bare minimum that you will need.

There are countless other items that you could add to this list, but for this article I wanted to focus on the basics.

With all of that being said, the following is a list of 24 things that you will desperately need in a post-apocalyptic world…

1. Emergency food to feed your family
2. A water filtration system to clean your water
3. A ferro rod for starting a fire
4. An extensive first aid kit for health emergencies
5. An emergency supply of antibiotics
6. A multitool that has pliers, a knife, a saw and a screwdriver
7. A solar-powered generator
8. A solar flashlight
9. An emergency shortwave radio so that you can stay informed
10. Fishing gear
11. Seeds for planting a garden
12. A wood stove
13. An axe for cutting wood
14. A quality shovel
15. Paracord
16. Duct tape
17. A hand-crank can opener
18. A very warm winter jacket for every member of your family
19. A durable backpack for every member of your family
20. A compass
21. A good pair of binoculars
22. Wool blankets
23. A Bible
24. A way to protect everything that you have stockpiled from the marauding hordes that will be desperate to take all of it away from you

In a post-apocalyptic scenario, how long do you think that you would last?

In any survival situation, there are four big areas that always must be addressed: food, water, power and shelter.

Of course many would add security to that list.

In a world that has gone completely mad, there will be many that will be willing to do whatever it takes to stay alive.

If you live in an area that has a high population density, it may become nearly impossible to survive no matter how much preparation work you have done in advance.  When things hit the fan, you will want to flee to a less densely populated area if at all possible.

Many people ask me for prepping advice, and so I have tried to cover some of the most essential basics in this article.

But of course what I have shared here is just the tip of the iceberg.  Properly preparing for what is coming takes a tremendous amount of time, effort and energy, and the clock is ticking…

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Unfortunately, it isn’t just egg prices that are spiking.

According to CNN, we just witnessed the largest monthly jump in grocery prices in almost two years…

In November, egg prices shot up by 8.2% nationwide, logging one of the highest monthly spikes in the past two decades, according to Consumer Price Index data released last week. And it’s not just eggs — shoppers have seen jumps in beef, coffee and non-alcoholic beverages, driving up overall grocery prices to their largest monthly gain since January 2023.

And more increases appear to be coming down the pike for the pulped-paper-packed protein: Wholesale prices for chicken eggs soared by nearly 55% last month, and wholesale food prices rose by 3.1% (their highest monthly increase in two years).

Our leaders in Washington promised us that food inflation was under control.

They lied.

I realize that this is very bad news.  I have heard from so many of you that are deeply struggling at this moment.  Now it appears that food prices are going to go substantially higher in 2025.  All of us are just going to have to adapt to this new environment somehow.

If you are barely scraping by from month to month, I want you to understand that you are definitely not alone.

In fact, the U.S. Census Bureau is telling us that 37 percent of Americans are having trouble even paying their most basic bills…

The Census Bureau reports that 37% of Americans are struggling to pay routine bills. Add in the cost of Christmas gifts and other holiday expenses and it can feel overwhelming to keep up with the Clauses.

The National Retail Federation predicts an increase in holiday spending this year, but the rise is more indicative of the higher cost of goods than anything else. We aren’t buying more; it’s just what we are buying costs more than before.

That is more than a third of the country.

It is difficult for people to hear that they aren’t going to be able to live the way that they previously did.

In an attempt to keep their lifestyles the same, many Americans are racking up credit card debt like never before…

A new study of Americans credit card debt finds the average household credit card balance as of the third quarter of 2024, was around $10,757 after adjusting for inflation.

That according to the personal-finance website WalletHub which Friday released its new Credit Card Debt Study, which found that consumers added $21 billion in debt during the third quarter of 2024.

Early results for the fourth quarter of the year show preliminary data for October at a new record high for credit card debt in the month, in absolute terms.

Sadly, we have now reached a point where debt saturation is becoming a major problem and delinquencies are rising.

Consumers simply cannot spend money like they once did, and the retail industry is really struggling as a result. So far this year, retailers have announced the closing of more than 7,000 stores.  That represents an increase of 69 percent from last year…

Retail store closures in the United States rose sharply in 2024, with over 7,100 closures announced through the end of November, according to data from the research firm CoreSight. This number marks a 69 percent increase from the previous year under the Biden-Harris administration, which has been plagued by inflation.

The spike in closures is tied to a wave of retail bankruptcies, with 45 retailers filing this year compared to 25 in 2023. Economic challenges, including persistent inflation, have led consumers to cut back on discretionary spending.

As I discussed last week, evidence that the economy is really slowing down is all around us.

I am sure that you can see this where you live, and with each passing day we get even more troubling news.

For example, it is being reported that Macy’s is planning to close dozens of stores by the end of this calendar year…

Macy’s is ramping up store closures this year as it struggles to revive its faltering business.

In February, the embattled retailer announced plans to shut 150 underperforming stores within three years – including 55 closures by the end of 2024.

But the company now expects to close 65 locations by the end of the year. Bosses said they will remain open through the holidays to let regular customers shop but then shutter for good before the end of December.

And in a year when so many restaurant chains have already bit the dust, we now have another one to add to the list…

Arizona’s iconic frozen drink and sub chain Eegee’s has filed for Chapter 11 bankruptcy, making it the latest casualty in a brutal year for fast-food restaurants.

The announcement came with the closure of five locations across Tucson and Phoenix, leaving die-hard fans heartbroken.

The December 6 filing in Phoenix federal court gives the embattled chain – owned by private equity firm 39 North Capital – a chance to reorganize its finances.

Four years of “Bidenomics” has taken an enormous toll on our nation.

We have built up a tremendous amount of economic momentum in the wrong direction, and the very foolish policies of our leaders are taking us exactly where I warned they would take us.

Many are hoping that things can be turned around when the new administration takes over.

But considering how rapidly conditions are deteriorating both here and around the world, it would literally be a major miracle to pull us out of this mess before a horrifying global crisis erupts.

So let us hope for the best, but let us also continue to prepare for the worst.

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Here in the United States, the cost of living is absolutely eviscerating the middle class.  If a way cannot be found to stabilize food prices, we will be seeing a tremendous amount of anger and frustration in 2025 and beyond.

Last week, it was being reported that global food prices had risen to “the highest level in 19 months”…

The world food price index, compiled by the U.N. Food and Agriculture Organization (FAO) to track the most globally traded food commodities, increased to 127.5 points last month from a revised 126.9 points in October, the highest level in 19 months and up 5.7% from a year ago.

The vegetable oil index jumped 7.5% above levels seen a month ago and 32% above those seen a year earlier, driven by concerns over lower-than-expected palm oil output due to excessive rainfall in Southeast Asia.

Clearly, things are not heading in the right direction. But what could be coming next is potentially even more alarming.

Insane global weather patterns are having a dramatic impact on the production of some of our most important staples, and as a result prices are rapidly trending higher.  For example, the price of Arabica beans has risen over 80 percent so far in 2024…

Coffee drinkers may soon see their morning treat get more expensive, as the price of coffee on international commodity markets has hit its highest level on record.

On Tuesday, the price for Arabica beans, which account for most global production, topped $3.44 a pound (0.45kg), having jumped more than 80% this year. The cost of Robusta beans, meanwhile, hit a fresh high in September.

It comes as coffee traders expect crops to shrink after the world’s two largest producers, Brazil and Vietnam, were hit by bad weather and the drink’s popularity continues to grow.

If you love coffee, you are already feeling quite bit of pain.

Unfortunately, it appears that coffee prices could become even more painful in 2025.

A similar thing is happening to another very popular morning beverage.

The price of orange juice is up 327 percent over the last 3 years, and thanks to Hurricane Helene and Hurricane Milton it is expected to go even higher in 2025…

As consumers struggle with higher prices for groceries, one staple of the American breakfast is about to get a lot more expensive. Plagued by diseased groves, uprooted trees to make room for housing developments, and severe weather that has decimated crops, the price of orange juice has skyrocketed in the past 3 years by 327% and is expected to climb even higher in the wake of Hurricanes Helene and Milton which swept through Florida less than three weeks apart.

According to industry data, Hurricane Milton destroyed over 3 million boxes of oranges in Florida, setting the state up for the smallest orange harvest in close to 100 years. Coupled with a protracted drought in Brazil, the world’s largest orange exporter, the price for frozen concentrated orange juice trading on the Intercontinental Commodity Exchange (“ICE”) has soared 80% to a record high of $5.25 per pound.

Many Americans like to have eggs with their orange juice in the morning, but the bird flu is sending egg prices into the stratosphere.

In some areas of California, a dozen eggs will now cost you more than 4 dollars…

Economists said the bird flu is continuing to impact the supply chain, with California becoming the epicenter of the virus and the fallout.

Gillian Thorp went to her local Trader Joe’s in Santa Clara in search for a dozen eggs that now costs her $4, assuming she could find some in the first place.

“I stopped by the egg section and there were only two choices,” Thorp said. “It was pretty empty. I usually only purchase organic eggs and there was only one choice for that.”

The bird flu isn’t going anywhere.

In fact, a fresh wave is sweeping across the United States right now.

So if you love eggs, that is really bad news.

Meanwhile, the size of the U.S. cattle herd has fallen to the lowest level since 1961…

America’s beef cow inventory has steadily declined over the last half-decade, reaching 64-year lows and signaling a deepening crisis across the cattle industry. As the cattle crisis worsens, consumers should brace for higher ground beef prices.

The shrinking beef supply has pushed the nation’s herd size to its smallest level since 1961. With severe droughts, high interest rates, costly feed prices, sliding farm income, surging farm debt, and a shifting consumer preference toward cheaper chicken, struggling ranchers have been culling heifers, preventing any meaningful recovery in the number of calves necessary to expand the nation’s herds.

There were 183 million people living in the United States in 1961.

Today, our population is nearly double that figure.

So we have the same amount of beef that we did in 1961 to feed almost twice as many people.

If you were wondering why beef prices had gotten so high, now you know.

Instead of eating a steady diet of high quality food, we are being fed an endless stream of heavily-processed packaged foods that are loaded with extremely unhealthy filler ingredients such as high fructose corn syrup.

Sadly, many Americans are in such financial distress that the heavily-processed packaged foods are all that they can afford.

Of course even the heavily-processed packaged foods are quite a bit more expensive than they once were.

We have definitely entered very dangerous territory, and I fully expect the trends that have been pushing up food prices to accelerate even more in 2025.

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

If you are old enough, you can still remember a time when many middle class families would purchase a new vehicle every few years.

Sadly, today most of us are being forced to get as much mileage out of our rapidly aging vehicles as we possibly can.  As a result, the average age of the passenger vehicles traveling America’s roads has reached an all-time record high…

This should be the best of times for the people who help keep America’s cars running.

There have never been as many on the road—around 290 million light vehicles—and they have never been so old. One reason for that is good news: They are better made. Getting the odometer past 100,000 miles has gone from being noteworthy to normal. Thirty years ago the average passenger car was about 8.4 years old and today that is 13.6 years.

Even keeping our aging vehicles repaired has become exceedingly difficult.

These days, if the mechanic hands you a repair bill for less than a thousand dollars that is a reason to celebrate.

In the old days, you could get a really nice used vehicle for a thousand dollars.

Of course groceries have become insanely expensive as well.  Earlier today, I came across a USA Today article that discussed the fact that the average household in Miami spends 327 dollars at the grocery store per trip…

Many longtime Miamians say they’ve felt this way since the pandemic transformed much of their city. As New Yorkers and Californians faced lockdown orders and restrictions, many flocked to Florida, with the largest increase of New Yorkers moving to Miami where they could benefit from tax and mandate breaks while working remotely. But along with having the largest net population gain of any state in the country came exploding living and housing costs. Housing prices have risen almost 50%, according to the UBS Global Real Estate Bubble Index released last month.

Grocery prices shot up. (An average household spent about $327 per trip). So did electric bills. A carton of eggs last year cost $5.

327 dollars used to be a lot of money.

Now it will just buy you one cart of food.

I warned my readers that the economic conditions that we were witnessing in Venezuela would eventually come here, and now it has happened.

As I discussed a few days ago, core consumer prices have actually risen for 53 months in a row. Our cost of living crisis is out of control, and there is no end in sight.

As they struggle to pay their bills, many Americans are turning to credit cards for some relief. As a result, credit card debt balances have soared to record high levels…

The average American household credit card balance as of the third quarter of 2024 was about $10,757 after adjusting for inflation, according to a new study.

The personal-finance website WalletHub onFriday released its new Credit Card Debt Study, which found that consumers added $21 billion in debt during the third quarter of 2024.

Early results for the fourth quarter of the year show preliminary data for October at a new record high for credit card debt in the month, in absolute terms.

As credit card debt levels rose, it was inevitable that more Americans would start getting behind on their payments, and that is precisely what has happened…

Are you feeling financially stressed as 2024 comes to a close? You’re not alone, not even close. In fact, 7.8 million Americans have delayed payments on at least one of their credit accounts this year. That’s a million more than in 2023.

This is really bad news for the economy as a whole, because our economy is highly dependent on consumer spending.

You can’t get blood from a stone, and restaurants all over the country are learning the hard way that most consumers simply cannot afford to eat out as regularly as they once did…

Seafood giant Red Lobster, Italian chain Buca di Beppo, fish taco eatery Rubio’s Coastal Grill and the owner of burger and pizza chains BurgerFi and Anthony’s Coal Fired Pizza are among those that have sought to reorganize through bankruptcy this year. Hooters of America is also huddling with lenders and advisers amid revenue declines, Bloomberg reported.

Shares of Dine Brands Global Inc., the parent of Applebee’s and IHOP, are down about 30% year-to-date, while shares of Bloomin’ Brands Inc., which owns Outback Steakhouse, dropped to near 2020 lows last month after it reported a decline in US same-store sales.

Yes, a “restaurant apocalypse” has begun.

When I first started using that term, a lot of people thought that I was exaggerating.

But of course I was not exaggerating one bit.

There was a time when it seemed like just about anyone in this nation could achieve “the American Dream” if they just worked hard enough.

But now we have reached a point where only 31 percent of Americans believe that they have “made it” in life…

Despite being the land of opportunity, the American Dream remains frustratingly out of reach for most Americans, with a mere 31% believing they’ve financially “made it” in life.

Sadly, that figure is even lower for Baby Boomers…

However, the picture becomes less optimistic with age. Only 27% of baby boomers feel they’ve reached financial success, and among those who haven’t, just one-third believe they ever will. The survey found that Americans consider their path to financial success threatened by various external factors, including presidential elections (46%), interest rate changes (45%), and the job market (42%).

After working so hard for so many years, only 27 percent of Baby Boomers feel like they have “made it” in life.

Well, that is quite depressing.

Things could have turned out far differently.  Many of us ranted and raved for years that things would turn out this way, but most of the country did not want to listen.

Bad decisions lead to bad results.

Our leaders have been making comically bad decisions for decades, and thanks to them we now have a complete and utter nightmare on our hands.

Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.