Economic Meltdown: 10 Warning Signs as We Approach Election Day
Written by Bill Brocius
As the 2024 presidential election draws near, the health of the U.S. economy is front and center. Historically, when the economy is in good shape, incumbents have the upper hand. But when the economy is a disaster, voters look for change. According to a recent poll from Rasmussen, the economy is the number one issue for voters in key swing states like Pennsylvania—and that's a major problem for the Democrats. The numbers don’t lie. The U.S. economy is spiraling out of control, and the warning signs are everywhere. Here are 10 glaring signals that things are unraveling fast.
1. Unemployment Claims Are Surging
In a telling sign of economic instability, new unemployment claims hit their highest level in over a year. Last week, 258,000 Americans filed for unemployment, up 33,000 from the prior week. This jump is largely attributed to ongoing labor strikes and weather-related disruptions, but let’s be clear—these aren't isolated events. They’re part of a larger trend as companies across industries are struggling to stay afloat.
2. Financial Insecurity Is at an All-Time High
Middle-income households are in free fall. According to Primerica’s latest report, 55% of middle-income families now rate their financial situation negatively—the worst reading in the survey’s history. Inflation, rising costs, and stagnant wages have created a perfect storm of financial stress for millions of Americans.
3. Living the “American Dream” Is Now a Pipe Dream
Once upon a time, a million dollars set you up for life. Not anymore. Thanks to the relentless cost of living crisis, it now takes a staggering $4.4 million to achieve the so-called “American Dream.” The dream of homeownership, raising kids, and taking vacations is becoming unattainable for the average American. The system is rigged, and the middle class is paying the price.
4. Consumer Demand Is Collapsing
Even fast food is feeling the pain. Lamb Weston, the largest producer of french fries in North America, just announced it’s cutting production and laying off nearly 400 workers due to collapsing consumer demand. When Americans can’t even afford to buy fries, you know the situation is dire.
5. Boeing Is Grounding Its Workforce
Boeing, once a symbol of American industrial strength, is laying off 10% of its workforce. The company is grappling with labor strikes, declining orders, and internal turmoil. This isn’t just about Boeing—it’s a reflection of a much larger industrial decline.
6. Banks Are Closing by the Hundreds
The banking sector continues its collapse, with over 700 branches permanently shut down this year alone. Major players like Bank of America and U.S. Bank are leading the charge, closing down physical locations as they anticipate a rough economic road ahead.
7. A Major Retailer Is Going Under
After 75 years, True Value has filed for bankruptcy and is being forced to sell off its operations. Once a staple in American hardware, the company’s collapse is yet another indicator of how retail giants are being wiped out in today’s economic environment.
8. Hundreds of 7-Eleven Stores Are Shutting Down
In a shocking move, 7-Eleven has announced the closure of 444 stores across North America due to slumping sales and inflationary pressures. When even convenience stores are going out of business, you know we’ve entered uncharted territory.
9. Home Depot Is Dumping Warehouse Space
Home Depot is frantically offloading millions of square feet of warehouse space—3.2 million square feet in just a month. This fire sale signals that major retailers are expecting a significant drop in demand and bracing for leaner times ahead.
10. Disney Is Laying Off Workers
If you need any more proof of the downturn, look no further than Disney. The entertainment giant is cutting 300 jobs as part of a broader cost-saving initiative. This isn’t just about Mickey Mouse—this is about an economy that is slowly but surely bleeding out.
The writing is on the wall, and if you’ve recently lost your job or are struggling to make ends meet, you’re not alone. The rules of the game have changed. It used to be that if you worked hard and played by the rules, you could build a stable life. Not anymore.
Our economy is crumbling from the inside out. We’re seeing the consequences of years of bad decisions, reckless spending, and unsustainable policies. And unless something drastic changes, things will only get worse.
If you’re not taking steps right now to protect your finances, you’re playing with fire. The collapse is here, and it’s not going away. Download my free ebook, 7 Steps to Protect Your Account from Bank Failure, and learn how to shield your assets before it’s too late. Want deeper insights and strategies? Join my Inner Circle for just $19.95 a month, and get access to exclusive content designed to keep your financial future secure in these dangerous times.
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