MAJOR Bank And Businesses COLLAPSE, US Economy BURNING DOWN Amid CRIME And FAILED Democrat Policy

So on top of everything else, banks are collapsing and interest rates are going up and man, as we enter this election year, it is going to get wild. But here's the story. The rise of the mega bankruptcy, 459 US firms have filed for bankruptcy this year, the most since 2020, and 16 had more than $1 billion in assets. Economists warn large scale bankruptcies can have devastating consequences. 459 firms. And have you seen mortgage rates, the interest rates, sorry, super high. And I was watching a video breaking down the cost of owning property based on the interest rates at this level. And it's already becoming impossible for millennials to buy. It's like renting a one bedroom in New York is four grand. Buying is out of the question. The only thing I can see here is there's going to be a hard fall. This on top of war, conflict, crisis, et cetera. I hope you are ready for what comes next. They report large scale corporate bankruptcies are at their highest level since 2020 as elevated interest rates continue to batter businesses. This year, giants such as Bed Bath and Beyond, trucking firm Yellow, wedding retailer David's Bridal have filed for Chapter 11 bankruptcy, thanks to a perfect storm of rampant inflation, high rates and supply chain disruptions. We've also got rising crime, CVS, Walgreens, Target, et cetera. They're shutting their stores down. And as I mentioned, the banks that have already faltered in this year. Oh, boy. Are you ready for what comes next? Fear of terror attacks in the U.S., war, conflict, crisis? I don't know, man. Here's what I can tell you. We're gonna do a special shout out to safeandreadymeals.com. Head over to safeandreadymeals.com if you want to pick up emergency food supplies. Guys, I rarely actually shout these guys out, but I am a big fan. These are these are buckets that have food that will last 25 years. The food expiration, I mean, the food themselves, I think it's a one month kit, a three month kit. You can pick them up right now. And there's a sale on these. Look, man, sometimes it rains, right? And with a flood coming in, you never know if you're gonna need to pop over, open some emergency food. You have a first aid kit because sometimes you get hurt. You don't really ever use it. And you might need some backup food. You got food in your fridge. What do you have in your emergency storage closet in terms of food and water? safeandreadymeals.com is a great way to do this. They support the show when you buy from them. Not only are you taking care of yourself, you're also helping the work that we do. And it is true that I don't typically shout them out because I'm not. Well, we don't do a lot of sponsor spots on this, but I shout them out when I think it really does matter. And considering the escalating conflict, it's like a reminder time like, hey, guys, you know, I know a lot of you have already gotten this stuff and it's gonna last you forever. You buy it now with inflation, it's gonna get more expensive. There's just there's no way around it. Get it now. It lasts 25 years. This stuff's gonna cost substantially more 10 years from now, but your stuff will still be good if you get it now. When we're looking at massive bankruptcies and a fear of economic collapse, just whatever it is you do, I hope you're taking care of yourself. Click the link in the description below. Let's just read more. The Daily Mail says, what's more is so-called mega bankruptcies. Those by companies with more than 1 billion in assets hit 16 in the first half of the year. By comparison, figures from consulting firm Cornerstone Research show there have been an average of 11 mega bankruptcies in the first six months of every year between 05 and 2022. Analysts at Cornerstone added the biggest corporate bankruptcy this year was SVB. That's the bank, Silicon Valley Bank, which had 175 billion in customer deposits at the time of filing. Economists warn the rise in large-scale collapses can have devastating consequences for the economy. For example, the demise of the trucking firm Yellow, which had 2.15 billion in assets. The rise in bankruptcies coupled with a weakening stock market and surge in credit card delinquencies has sparked fears the U.S. is heading for a recession. But Stephen Blitz, chief U.S. economist at Global Data T.S. Lombard insisted any downturn would be less severe than the 07-09. Oh, okay. I mean, that's not saying a lot. It got bad. Take a look at this. CNBC, housing industry urges Powell to stop raising interest rates or risk an economic hard landing. Top real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging housing costs and a historic shortage of available homes for sale. In a letter Monday addressed to the Federal Board of Governors and Chair Jerome Powell, the officials voiced their worries about the direction of monetary policy and the impact it is having on the beleaguered real estate market. The National Association of Home Builders, the Mortgage Bankers Association, and the National Association of Realtors said they wrote a letter to convey profound concern shared among our collective membership that ongoing market uncertainty about the Fed's rate path is contributing to recent interest rate hikes and volatility. There's nothing you can do, my friends. I'm sorry. This is the sad reality. You know why? If they don't raise interest rates, inflation is out of control. It's resulting in bankruptcies. The economy's in trouble. They raise interest rates. Now the housing market's in serious trouble. Ain't nothing you can do about it, my friends. It's going to get bad as far as I can tell. And it's interesting because we're entering 2024. Joe Biden is already suffering in the polls. Trump is already ahead. And with economy this bad, I don't see how Trump loses as of today. Certainly something could happen tomorrow, like Trump drops out of the race, I don't know, as a medical issue. As of right now, the American people are suffering and facing hardship. There is war on the horizon. There is an active war already in Ukraine. The U.S. is about to get dragged in. Putin's threatening nuclear annihilation. Israel and Palestine is erupting. And the economy ain't doing too well. So what happens? Why is the economy doing poorly? Well, Mike Cernovich had a tweet about this, smart guy. He's made a lot of really great tweets lately. When the economy tanks, many young males will have no opportunities and nothing to do but enlist. I remember, I was talking to some people about this years ago, that whenever the military needs to boost their recruitment, they just wait for economic downturn. How convenient. And then people with no choice say, my best job choice is to enlist. Guaranteed salary. You get in, your food, everything's taken care of. So all you got to do is put all that money in the bank and save it up. And then when you get out, you'll have like 20 grand or something. Recruitment bonus as well. The economy is facing dire straits at a time when we may be entering very serious war and conflict. So consider this. The young men who feel lost, listless, and bored. But it's a woke military. I don't know if it's going to actually attract a lot of these guys. They may choose to be homeless and just say, no way. No way. So what happens and where does it occur? You know, I can tell you this. People can't afford to buy houses, so they're renting. This means they're not building wealth. They're not retaining any of that money they put in. It's not so easy. I'll put it this way. If you're a landlord or a landowner and you're renting things out, you're not really making a profit. Profits are slim. If you own like 50 properties, you can live off it. You're probably doing very, very well. But for the average person who owns like one or two homes and they rent it out, they're supplementing their income, but they're probably not living off of it, especially if they want to have a family. But they are putting that money towards the mortgage, which builds wealth for the homeowner and not the rentee. With rising interest rates, it's going to... Man, I saw this in Ukraine. It was terrifying. The oligarchs could afford... So here's how it worked. I was looking at property prices in Ukraine and I'm like, it's like $300,000 for a house in the city. And I'm like, what? No Ukrainian could afford that. It's true. Only the ultra wealthy could. And then they rented out to the citizens at dirt rates, something like $100 a month, because they only made like $400 a month equivalent. The salaries are in hryvnia, I think this is the currency. But it was like on average, they made like $400 a month and they paid about $100 a month in rent. But the properties cost $300,000. So no regular Ukrainian could afford to buy it and build wealth. That's how you get oligarchy. And that's where we're going right now. With all of these bankruptcies, you are going to see major industry collapse, and it's going to hit you hard. Jobs disappear, people can't afford to rent even. You're going to be forced to see the government subsidize things. And it's all happening at a time where there is conflict escalating. Is it a coincidence? I don't know. But my friends, I hope you are taking care of yourselves and thinking ahead. What can I say? I don't want to give you any financial advice, right? I don't do that. But I'll tell you what I do. Gold, silver, Bitcoin, you bet. Cash, absolutely. Cash is not a great thing to have, in my opinion. But because of inflation, you hold on to cash, it eventually becomes worthless, especially with high inflation. Gold and silver are great, but they're hard to trade with. You can get like small silver coins, for sure. And that's one thing people do. But gold is hard. It's so valuable. What are you going to do? Like, I have a gold bar. I want a sandwich. Can you break off a piece of the gold? No. I mean, maybe. They have the goldbacks, the gold foil currency. It's, you know, one one thousandth of a troy ounce or whatever. I actually have a bunch of those as well. Cash is good, though, because in the event the banks put limits on spending and withdrawals and things like this, you're going to want to be able to buy. And you might need physical cash. Or if there is an attack on our infrastructure or the internet, cash will be king. I don't have the answers for you, my friends. Just some information and things to consider. You can go to safeandreadymeals.com if you want to be prepared with some food. I have a bunch of this stuff as well. I won't say too much. You don't want to reveal, you know, your resources, but I do take this stuff seriously. And as we entertain the possibility of World War Three, let those who insult the preppers continue laughing. It's like the story of the ants on the grasshopper, man. Do you want to be the ant of the grasshopper? The ants stored for winter. The grasshopper died. I'll leave it there. Next segment is coming up at 4 p.m. on this channel. Thanks for hanging out, and I will see you all then. Transcribed by https://otter.ai