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If the U.S. economy was heading into an economic collapse, we would expect to see a slowdown in the employment numbers, and that is precisely what is happening. According to payroll processing firm ADP, the U.S. economy only added 27,000 new jobs in May, and that is way below the number that is needed just to keep up with population growth. Of course some in the mainstream media are attempting to put a positive spin on this, but there really is no denying that this is a truly awful number. In fact, we have not seen a number this bad in more than 9 years.
9 years is a very long time, but this terrible employment number is perfectly consistent with all of the other horrible economic numbers that have been rolling in lately. Time after time in recent weeks I have been using phrases such as “since the last economic collapse” to describe what we are witnessing. The U.S. economy has not been in such rough shape in nearly a decade, and things just keep getting worse. So how did Wall Street respond to the latest employment news? Actually, stock prices surged, because investors are super excited about the prospect that the Federal Reserve could soon lower interest rates. Pushing interest rates all the way to the floor certainly helped the stock market recover after the last recession, but this time around there is a major twist. The U.S. is currently engaged in a major trade war with China, and the normal tools that the Fed utilizes may not be powerful enough to overcome the negative effects of such a conflict.
And to make things worse, now the U.S. is also starting a trade war with Mexico. On Wednesday, President Trump made it clear that “not nearly enough” progress had been achieved during negotiations with Mexican officials. Of course the Mexicans will almost certainly retaliate, and both countries will start seeing higher prices and significant job losses. In fact, one study has concluded that the U.S. economy could lose more than 400,000 jobs as a result of these tariffs on Mexico. According to Marc Thiessen, a trade war with Mexico would literally put millions of U.S. jobs at risk…
We shall see what happens, but the outlook for the U.S. economy for the rest of this year is not good at all and many experts are warning about the imminent economic collapse. Hopefully I am wrong, but it certainly appears that a major economic crisis is developing just in time for the 2020 presidential election.
You can read more on our website: http://theeconomiccollapseblog.com/
America is headed for a day of reckoning, and author Michael Snyder is sounding the alarm. His novel about the future of America entitled “The Beginning Of The End” and his best-selling book about the end times entitled “The Rapture Verdict” are both available on Amazon.com.
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