"20 Signs Walmart Is Falling Apart Before Our Eyes"
by Epic Economist
"As the U.S. moves towards another recession, Walmart's empire is silently crumbling down. When you're the world's biggest retailer, even a one percent drop in earnings can be translated into billions of dollars in losses. But profits are down by almost a quarter compared to a year ago, which means that the big-box retailer's woes are far worse than anyone would've imagined. For decades, Walmart was the company competitors feared most, but new numbers show that the retailer has been falling behind in recent years. Walmart has begun to lose popularity amongst consumers, and major holes are starting to form in its business. For the most part, the company has hidden its financial struggles from the headlines because the problems it face are different across the world, which allows the superstore chain to mask itself in the overall picture.
The news gets worse. "Profits," it turns out, are the least of Walmart's problems. The retailer didn't generate any cash from operations at all this past quarter, instead consuming $3.8 billion. Add in $3.5 billion in capital spending, and Walmart's free cash flow for Q3 was a dishearteningly negative $7.3 billion. And the company hadn't experienced negative cash from operations since Q3 1995, more than a quarter-century ago, according to historical data provided by S&P Global Market Intelligence.
And more financial losses may be coming for Walmart: The IBD Stock Checkup shows that earnings have actually fallen by an average of 4.5% over the past three quarters. This is well short of the 25% growth sought by investors. Over the past three years, the retail chain’s monthly sales have grown by an average of 10%. That’s why its projected 4% sales growth for the final quarter of 2022 seems so unimpressive. In other words, investors are seeing Walmart stock as a no-buy right now.
Walmart traditional business model is showing persistent signs of weakness both in the U.S. and overseas. If the retail giant fails to adapt to new market trends, e-commerce competitors may crush the Walmart and push it to a downward spiral we've seen so many other retailers go down in recent years. Will the biggest retailer in the scene be a victim of the relentless retail apocalypse? That is yet to be seen. But the outlook isn't promising right now, and the last earnings report was a train-wreck that resulted in major losses right after the retail chain experiencied a pretty bad losing-streak. At the end of the day, company's demise is a mere reflection of a collapsing economy, and what we've seen so far is just the beggining of a series of defeats that lie ahead for Walmart, American consumers and our entire economy.
As Motley Fool's Travis Hoium noted, when we dig between the lines, we can rapidly see a company in serious trouble and could be the "latest in a long line of leading retailers to go from boom to bust in the blink of an eye". That's why in today's video, we compiled a series of numbers, facts and stats that prove that Walmart's best days are behind it."
"New info about the pipeline incident and USA has warned its citizens to get out now. The Canadian government has also warned hockey players to leave Russia immediately. Was the pipeline incident a cyber related incident? It has happened before. Gas prices are rising again!"
"That we can never know,” answered the wolf angrily. “That’s for the future. But what we can know is the importance of what we owe to the present. Here and now, and nowhere else. For nothing else exists, except in our minds. What we owe to ourselves, and to those we’re bound to. And we can at least hope to make a better future, for everything.”
"Have you contemplated your home galaxy lately? If your sky looked like this, perhaps you'd contemplate it more often! The featured picture is actually a composite of two images taken from the same location in south Brazil and with the same camera - but a few hours apart. The person in the image - also the astrophotographer - has much to see in the Milky Way Galaxy above.
The central band of our home Galaxy stretches diagonally up from the lower left. This band is dotted with spectacular sights including dark nebular filaments, bright blue stars, and red nebulas. Millions of fainter and redder stars fill in the deep Galactic background. To the lower right of the Milky Way are the colorful gas and dust clouds of Rho Ophiuchi, featuring the bright orange star Antares. On this night, just above and to the right of Antares was the bright planet Jupiter. The sky is so old and so familiar that humanity has formulated many stories about it, some of which inspired this very picture."
Click here to listen to my latest interview with Outer Limits.
"With or without our consent, humanity is being dragged into a horrific third world war. Martin speaks with Ryan McCormick from The Outer Limits of Inner Truth and gives a sobering assessment and forecast of how, why, and what to expect when hell on earth manifests.
Martin also discusses:
· The likelihood that Americans will be subjected to, and willingly accept a Chinese-style social credit rating system.
· What the past eight civilizations that have collapsed (with the exception of Egypt post-1250 BC) all have in common.
· If the push for green energy will fully succeed in the US or only prevail in a limited number of states.
· When China becomes the epicenter of economic activity by 2032, will it drastically increase it's sphere of influence and political ideologies the same way the US did in post World War II.
· What form of government in history was most favorable to individual rights and what nations and states will have the most freedom in the future."
"It was the essence of life to disbelieve in death for one's self, to act as if life would continue forever. And life had to act also as if little issues were big ones. To take a realistic attitude toward life and death meant that one lapsed into unreality. Into insanity. It was ironic that the only way to keep one's sanity was to ignore that one was in an insane world or to act as if the world were sane."
“No. Not like this. I haven't faced death. I've cheated death. I've tricked my way out of death and patted myself on the back for my ingenuity. I know nothing.”
- James T. Kirk, "Star Trek II: The Wrath of Khan"
“Death is the only wise advisor that we have. Whenever you feel, as you always do, that everything is going wrong and you're about to be annihilated, turn to your death and ask if that is so. Your death will tell you that you're wrong; that nothing really matters outside its touch. Your death will tell you, 'I haven't touched you yet.'”
- Carlos Castaneda, "Journey to Ixtlan"
"When The Soon To Be Mrs. and I were just dating, I was cooking something or other. I think it was eggs. I like eggs sunny side up, and don’t particularly care if they’re cooked all the way.
The Soon To Be Mrs.: “Aren’t you worried about salmonella?”
John Wilder: (Laughs in full Chad manifestation.)
The Soon To Be Mrs.: (Swoons.)
Seriously, she swooned. I’ve never seen it before in my life, but in that moment I think that was what sealed the deal, the moment in time that The Soon To Be Mrs. realized that this one is different. He’s not like the others. Here is a man who has zero fear of The Current Thing, and knows that salmonella won’t be the thing that punches his ticket out of having a functioning circulatory system.
No. I’m not afraid of salmonella. I would spit in its tiny little eyes or flagellum or tentacles and say, “Not today, my bacterium friend! My Danish-Scots-Germanic blood is far too strong for the likes of you!” And then I would attack Poland. Oh, wait, that’s been done.
I know I’m not going to die like Hemingway, and I’m not going to die like the comedy greats Belushi, Twain, or Nietzsche did. Nope. I think I’m gonna go out like Elvis. On a toilet after having eaten a fried peanut butter, jelly and bacon sandwich covered in cheddar cheese and mayo. Nope, I’m gonna die on a toilet. I mean, after all, a king should spend his last moments on the throne, right?
A lot of people worry about dying. I suppose I did, in my 20s, when I was worried about carrying out my responsibilities as a dad. Those are serious responsibilities – because those kids are going to be the legacy that I leave on Earth. That and my writing, collection of PEZ® dispensers and velvet Elvis paintings.
Again, a lot of people worry about dying. I’m not sure why. Of things that are more-or-less predetermined, that’s the big one. We’re all going to die. All of us. And I’m not sure I care.
Oh, sure, I want to live. I have no particular desire to die. If given the preference, I suppose I’m in favor of my continued heartbeat. But I don’t fear death. I don’t go to sleep at night wondering if this pain or that pain or that thing might be the symptom I look up on WebMD® that seals the deal that Wilder is going up to irritate Jesus in Heaven with bad puns.
I don’t worry about some future point when I’m going to enjoy life. I’ve achieved nearly every goal I’ve ever set for my life. End. Full stop. It’s like when a baseball game goes into extra innings, “Hey, free baseball.” And me? Free life. I’ve done nearly everything I’ve ever wanted to do.
What do you give a man who has everything? I mean, besides another bottle of wine. You give that man: Today. I’ve got Today. The only moment I live in is right now. And right now isn’t all that bad. I’m sitting in the sitting room (question: is any room I sit in, by definition, a sitting room? Discuss.) with the cool night air blowing in the window, some songs I love playing on the laptop, a cold beer by the keyboard, and the knowledge that at this moment, everything is fine.
Literally, in my life, Every Single Thing Is Fine. I could go into details, but you already know how awesome I am. So, I live for today? Hell no.
t’s the inversion of beauty: it consists of being positive about, well, any old thing that feels good. I could list these “pleasures”, but you know the list as well as I do. We see it every day, with vice being paraded as virtue, and the continual demand going out for people to celebrate it, because, “Can’t you see? This horrid abomination that no healthy society or people in the entire history of the world has tolerated, iS BeAuTIfUL!” No, I think living a life built on YOLO is one doomed to fail – inevitably it will fail based on two reasons: it is materialism or a faith based on the nihilism of the material world writ large, and it is based on needs, like youth, wealth, sensation, or, yes, even life. So, not YOLO.
One thing I’ve tried to preach is outcome independence. Indeed, since the final outcome of life on Earth is fixed, all the intermediate steps lead there. Instead, I try to focus on virtue and faith. I write not because of YOLO, and not because it’s easy. Some nights it’s hard as hell to get the post to “close” and feel right. There are dozens of posts where, even after 1600 words, I still didn’t say exactly what I meant to say. That’s okay, it’s on me. I’m learning, and if I were perfect at this, I wouldn’t have more work to do.
For me, it’s the work. It’s getting better. It’s finding ways to add value to those people around me. There are those who pull their weight in the world, and those that don’t. I want to be one that pulls his weight, who has contributed as much as I can to helping my family and the wider world.
I don’t always do it. And I’m not always right, either. I’ve produced some stuff in my life that was really, really good, but not perfect. Thankfully, that’s not my mark, either, since just like immortality here on Earth, searching for perfection is a lonely and silly pastime. I want to make the world a better place with my family (first) and my work (now second) guided by God. And I want people to laugh hard while learning and thinking about the things I write.
The beauty of this is to win, all I have to do is the best that I can do every day. To win? All I have to do is be the best person I can be every day. See? Each night, I go to bed and sleep soundly if I know, in that day, that I gave it my all. Do I take time for me? Sure. But that’s not the goal – I serve a higher purpose.
So, what do I fear? Not death. It’s coming whether I like it or not, and, honestly, I’d rather not return my body in factory-fresh condition – I’d like all the parts to fail at once. On the toilet. I think Elvis would have wanted it that way. Oh, wait... I wonder if Elvis ate eggs sunny-side-up? Hang on, I’m sure he did. Elvis ate everything."
"There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say, we know there are some things we do not know. But there are also unknown unknowns, the ones we don't know we do not know."
"Simply because you do not have evidence that something
exists does not mean that you have evidence that it doesn't exist."
"Learn to say 'I don't know.' If used when appropriate, it will be often."
Baltimore, Maryland - "Yesterday came an amusing news item over the Reuters wire: "Belarus' President Alexander Lukashenko said on Thursday he was imposing a ban on consumer price rises in response to "exorbitant" inflation across the economy, state media reported. "From today, any price increase is prohibited. Prohibited!," the state-run Belta news agency quoted Lukashenko as saying in a meeting of government ministers. "It starts today - not from tomorrow, but from today, so that prices cannot be inflated during the course of today," Lukashenko said."
“Well, that ought to fix that,” joked our colleagues Dan Denning and Joel Bowman. ‘How dumb can these people be’ is a frequent question here at the Bonner Private Research headquarters. We plumb the depths of it; but our cord is never quite long enough. Everybody knows that price controls don’t work. Always and everywhere, they are followed by shortages… and ultimately higher prices. But heck, it’s a New Era, right?
Old School Rules: In the 1990s, we were invited to Belarus to advise the government, after the collapse of the Soviet Union. We sat around an immense meeting table with some immense Belarusians, whom we took for the leaders of the new country. But after a few rounds of vodka, it was obvious to both sides of the table that we were ill-suited to the job. On our side, we had no clue what to tell them. And on theirs, they wouldn’t have been able to implement our advice, even if it had been good.
The old rules and patterns still applied. You still couldn’t get something for nothing… regression to the mean (going back to normal) was still a good bet… and the more government did to make things better, the worse they would get. “Why don’t you guys just protect private property… back your money with gold… lock up murderers and thieves… and otherwise leave people alone…” we suggested. But the context – a crumbling communist empire – was so different… surely, there was no precedent. Our advice went nowhere. And the inflation rate now in Belarus – 19%.
A lot of things in life – though not novel to history – are certainly new to us. You only die once, for example. You don’t get a chance to practice. Or learn from your mistakes. Many people have done it before, but for you… this is your first time. You just have to do your best… And in today’s markets, we have a whole new context. Completely new to anyone under the age of 60. You had to be an adult in 1980 to have seen anything like it. Now, the Fed can no longer support the economy or the stock market; any attempt to stimulate them will only cause more inflation. Let’s review.
Fatal Conceits: We’ve all spent most of our lives in an age of plenty. After WWII, it seemed like it would be onwards and upwards forever. Growth, prosperity and progress seemed like they were in the bag. It was a period of great conceit too. Americans came to feel that they were a special people. “We see further,” is how the now deceased and very dispensable Secretary of State, Madeleine Albright, put it. We are the “indispensable nation.”
The conceit grew out of power… and along with them both came fantasy thinking, corruption and debt. There was no war we thought we couldn’t win, though we won none. Overseas, we claimed the right, for us and for us alone, to invade, to assassinate, and to execute – no judge or jury necessary. And at home, we aimed to abolish poverty and to forbid the use of drugs that lacked FDA approval.
The elite professed to be working for ‘equity’ and ‘diversity’ even as they grew further and further removed from the common people, whom they regarded as deplorable. They aimed to turn Iraq into an American-model democracy, complete with ATMs on every corner and Sunday night football. And though all their previous crusades ended in woeful failure, they still believed that they do the most remarkable things – turning women into men, and men into women… and adjusting the thermostat for the entire planet.
But it was money that undid them. Their boondoggles, illusions, and jackass programs were expensive. By 1971, the Nixon administration shifted to a pure-paper money system (with nothing to limit the quantity of money or protect its value) and the trap was set.
The New Old Era: The Fed and its member banks funded the federal government by expanding the money supply, lending out newly created dollars – especially to the US government. GDP growth slowed. But debt growth sped up. In 1980, US debt was still under $1 trillion. Now, it is $31 trillion… and growing fast. By the 21st century, the whole economy was so tricked-up on debt and delusion that productivity declined. Real wages went down. The Fed pumped up financial assets… while ‘globalization’ brought China into the world economy to help keep down consumer prices.
Come 2021, and the gods seemed to turn against the USA. Consumer prices were rising at the fastest pace in 40 years. The Fed had to put its money-printing on pause. And later, when inflation didn’t disappear, it had to ‘tighten’ – reversing the policies and profligacy that created the Bubble Epoch. No more bailouts. No more stimmies. No more zero interest rate lending. And no more bull market.
And here we are, in a ‘new era.’ It is new to most Americans. But it is actually a very old era. Every fake boom is followed by a bust. And every attempt to ‘print your way out of it,’ is followed by worse inflation. The best way out is to follow the advice we gave the Belarusians. They didn’t take it. Neither will the USA."
○
Joel’s Note: As you might have seen the US National Debt officially surpassed $31 trillion earlier this week. There’s a lot of hang wringing and finger pointing among both Republicans and Democrats, but they needn’t waste their energy… there’s more than enough blame to share between both parties.
It took the republic roughly two hundred years to amass its first $1 trillion in debt, a bar it cleared back in October, 1981. Since then, it’s been off to the races, with each successive president adding more and more to the total debt. Reagan piled on $1.8 trillion… George H.W. Bush another $1.5 trillion… and Bill Clinton $1.4 trillion. Then came the heavy hitters…
Between 2001 and 2009, George W. Bush added $6.1 trillion to the national burden, before Barack Obama said “hold my beer,” and dropped another $8.3 trillion on top. Then came Donald Trump, the man who was going to march on down to Washington DC and “drain the swamp.” During his four years at the helm, the national debt grew by a whopping $8.2 trillion… almost as much as it did under his predecessor, only in half the time.
Then, when the moment came for Mr. Trump to leave office, sky high, multi-trillion dollar deficits were essentially par for the course…So high had the national debt piled that it was almost impossible to see the peak with the naked eye. Earlier this year, in his State of the Union speech, Mr. Biden even crowed that he would be “the only president ever to cut the deficit by more than one trillion dollars in a single year.” It was a bit like saying, “I’ll be the first ever smoker to reduce my daily intake by 100 cigarettes!” One had to be a serious addict in the first place in order to cut so much from the fix. And it’s not as though our aging smoker is a paragon of health…
The Committee for a Responsible Federal Budget estimates: “The Biden Administration has enacted policies through legislation and executive actions that will add more than $4.8 trillion to deficits between 2021 and 2031 [...] This is on top of the trillions of dollars we were projected to borrow before President Biden took office.” $31 trillion is a big number, to be sure… but one gets the feeling we ain’t seen nuthin’ yet…"
"In these downbeat times, we need as much hope and courage as we do vision and analysis; we must accent the best of each other even as we point out the vicious effects of our racial divide and pernicious consequences of our maldistribution of wealth and power. We simply cannot live in the twenty-first century at each other s throats, even as we acknowledge the weighty forces of racism, patriarchy, economic inequality, homophobia, and ecological abuse on our necks. We are at a crucial crossroad in the history of this nation - and we either hang together by combating these forces that divide and degrade us or we hang separately. Do we have the intelligence, humor, imagination, courage, tolerance, love, respect, and will to meet the challenge? Time will tell. None of us alone can save the nation or world. But each of us can make a positive difference if we commit ourselves to do so."
"Can you picture what will be? So limitless and free…
Desperately in need of some stranger’s hand…
In a desperate land…"
- The Doors, "The End"
"Welcome to the season of chaos, sponsored by the Party of Chaos, America’s Democratic Party, owner and operator of the shadowy “Joe Biden” regime, dedicated to wrecking what’s left of the country - and the rest of Western Civ with it. Do you think I exaggerate? Consider for a moment that your personal ruin - the loss of your freedoms, your livelihoods, and your posterity - is at stake behind the more general demolition of our society.
We are barreling into an election that will determine the composition of Congress. There is much chatter about whether this election will be allowed to happen. Signs and portents point to a grievous loss of power for the Party of Chaos. Power is all they care about - certainly not the public interest or the common good - and a particular sort of power: the power to coerce, persecute, and punish.
It is obvious in everything they do, from the FBI swat-team home invasions of select opponents and the gross mistreatment of the January 6 defendants, to the craven censoring of public speech, to the imposition of medical tyranny and the deadly fraud of Covid shots, to the degenerate insults of their race-and-gender hustles, to their assault on the value of our money, to their sabotage of the oil-and-gas industries, to their treasonous abandonment of border control, to the deliberate perversion of policing and public order, to their promulgation of a faithless and unnecessary war, sharply against our national interests, in faraway Ukraine.
Adults understand that politics is a crooked business, but through the whole of US history until now filters existed in the public arena that allowed for enough sorting out of truth from untruth to enable the formation of a reality-based consensus - which, in turn, allowed daily life to operate coherently. The Party of Chaos has thrown the kill-switch on that crucial function by corrupting the news business and subverting the new social media. The result is a public culture of pervasive and immersive lying, and a stupendous institutional failure of the courts to correct any of that behavior.
Case-in-point: the John Durham Special Counsel Investigation on the origin of the RussiaGate fraud. It now apparently terminates in the prosecution of the tiniest minnow (Igor Danchenko) in that vast inland sea of corruption. Some of the figures who carried out the perfidious seditions of RussiaGate are still employed in the Department of Justice and the FBI, and to this day are active in the continued cover-up of the crimes committed to overthrow President Trump, notably: Deputy Attorney General Lisa Monaco, Associate Attorney General Vanita Gupta, DOJ Inspector General Michael Horowitz, FBI Director Christopher Wray, and others.
Mr. Durham is supposedly among the highest officers of the federal courts charged with enforcing a very particular region of criminality. His staff must be marinated in evidence of the RussiaGate misdeeds - reams of which have been independently documented in the public record, ranging from (just for example) the nefarious activities of figures like Nellie Ohr, wife of DOJ higher-up Bruce Ohr, working as go-between with Christopher Steele and the FBI, to the spectacular failures of Judge James Boasberg and his FISA court, not to mention the well-known machinations of Peter Strzok, Lisa Page, Andrew McCabe, Rob Rosenstein, Dana Boente, James Baker, Andrew Weissmann, Jeannie Rhee, Aaron Zebley, Brandon Van Grack, Robert Mueller, and other top officials who worked sedulously against the public interest. All these remain apparently off-the-hook for their sketchy activities.
How did that happen? If the Party of Chaos loses control of its Congressional majority, Mr. Durham may have to answer that question. And until he does, American justice will remain a deeply broken institution that citizens can’t trust. In that light, how is our country any better than the most overt petty despotisms around the world? How does it deserve the citizens’ respect or even compliance?
The stakes in the midterm elections are huge for the Party of Chaos, and its worker bees may be capable of any duplicity to throw it off the rails. In my soon-to-drop next podcast, blogger Tom Luongo (of Gold, Goats, and Guns) introduces a surprising twist: the election takes place, he says, but the Party of Chaos finds a way to delay the announcement of the results via procedural shenanigans that go on for weeks after November 8, leaving the country in a state of anxious limbo. What an idea! Such a strategy would wreck the last shred of public trust in elections without having to cancel, postpone, or overtly overthrow the process. It would also invite just the sort of public protest that the Party of Chaos can spin into another insurrection narrative.
I’m strangely confident that there is a hidden column of people that love this country who will not allow this final insulting scam to succeed. Its appearance among us will shock and amaze the multitudes. The rule of the Woke Jacobin maniacs will end. And even though we’ll have to live through the wreckage they brought about, we’ll move about this strange new landscape of hardship in the light of reality-made-visible, seeing clearly what has happened and knowing what we must do to revive our country."
"In today's vlog we are at Aldi, and are noticing massive price increases! We are here to check out skyrocketing prices, and a lot of empty shelves! It's getting rough out here as stores seem to be struggling with getting products!"
OPEC Cuts, UN Demands, CDC Hides Dangerous Vax Data
By Greg Hunter’s USAWatchdog.com
"It looks like consumers are going to have to pay more at the pump after Saudi Arabia announced a 2-million barrel per day cut in oil production. The Russians asked the Saudi Royal Family for the cuts to stabilize prices and even make them go back up. Why are the Saudis doing what Russia asks in oil production? You might remember, in August of 2021, the Russians signed a military cooperation deal with the Kingdom, and that means they are allies. The White House is furious because oil is going right back up just as the 2022 midterms have Democrats worried about losing the House and the Senate because of high inflation. Oil prices backing off in the last few months was a bright spot, but not any longer because of the new supply cuts.
Meanwhile, the dollar keeps soaring while the Fed keeps raising interest rates. For the first time ever, the UN is telling the Federal Reserve to stop raising interest rates to fight inflation. The rest of the world is buckling under the strong dollar. The UN wants price controls instead, and every economist out there knows price controls do not work. On top of that, it will only make the supply lines worse, which will in turn make inflation worse. It’s a catch 22 with no good answers. Get ready for sparse supplies in many things and higher prices too.
The CDC was caught hiding negative data on CV19 injections for nearly two years. The CDC signed up 10 million people for a CV19 vax tracking app called “V-safe.” The data showed lots of vax problems, and the CDC hid it from the public. Two lawsuits finally pried the data loose, and it showed the vaccine was not safe and caused injuries right from the beginning that required medical attention. It also caused 24% of people to not be able to work or go to school. It’s yet another back eye for the CDC for covering up how deadly and debilitating the CV19 vax was from the very beginning. The shots should have been stopped more than a year ago–but they keep on injecting." There is much more in the 35-minute newscast.
"The worsening retirement crisis plaguing the U.S. means that over half of the population will never be able to hang their work hats up, relax and enjoy their senior years. And many of those who do retire face the risk of falling into poverty in old age as they run out of funds and Social Security benefits fail to provide an adequate safety net for everyone. On top of that, given that the price of pretty much everything we buy and consume on a daily basis continues to reach one record high after the other, and the fact that 61% of Americans are living paycheck to paycheck, it’s never been harder for U.S. workers to start saving for retirement. In other words, today’s cost of living crisis will be tomorrow’s retirement crisis, and all of us are going to be dramatically affected by it.
For years, we have been warned that our country was marching toward a retirement crisis of epic proportions. But still, nothing has been done to effectively prevent things from getting worse, and conditions have become increasingly more difficult for U.S. workers to have the chance to put a percentage of their incomes aside for the future. The truth is that our retirement system is broken, and at this point, everyone agrees that it is heading for a major disaster.
Data released by the National Institute on Retirement Security reveals that over the past 35 years, 401(k) participants are not contributing regularly, asking for withdrawals, and not repaying their loans. On top of that, “we have a lot of individuals who have nothing saved for retirement, about 40 percent of the workforce,” said Diane Oakley, the executive director of the NIRS, adding that when her organization used census data to assess whether households were saving enough to retire with eight times their projected income, a very conservative estimate of retirement preparedness, “we found that 60 percent of households weren’t on track.”
Adding to this dire picture is the fact that for the first time since 1973, unemployment among workers over the age of 55 has remained higher than that of mid-career professionals for more than six months. Around 30% of workers now plan to postpone retirement and work longer. Others, facing poor working conditions, may instead choose to retire sooner and with less saved. For many, entering retirement early will mean balancing the rising costs of healthcare — estimated at nearly $300,000 for an average 65-year-old couple — with food, housing, and expenses related to long-term care.
Bills never seem to stop piling up, even as we get older. Simply put, many older workers who urgently need to contribute additional savings for retirement may never be able to do so. The consequences of this worsening crisis are going to be severe for both American families and the national economy, as a large share of households are forced to significantly reduce consumption in retirement and will have to rely heavily on their families, charities, and the government for help to make ends meet. Instead of having control of their economic lives, millions of Americans will have to muddle through their final years dependent on others for financial support and seeing their standard of living collapsing right before their eyes while the American dream slowly dies."
"The Trends Journal is a weekly magazine analyzing global current events forming future trends. Our mission is to present Facts and Truth over fear and propaganda to help subscribers prepare for What’s Next in these increasingly turbulent times."
“Pigging” is the method used to clean sediment build-up in pipelines. You may have known that before the Nordstream Pipeline was sabotaged. Or maybe not. Allow us to indulge in the mechanics: Devices known as “pigs” are inserted into a “pig launcher” (or “launching station”). The launching station is then closed and the pressure-driven flow of the product in the pipeline is used to push the “pig” down the pipe until it reaches the receiving trap — the “pig catcher” (or “receiving station”).
As the pig travels through the pipeline, it pushes out sediment and cleans the pipe walls, leaving the pipeline ready for the next transfer of gas or oil. Liquified Natural Gas (LNG) in this case. The pig is frequently propelled with nitrogen. The original pig designs were made from straw wrapped in barbed wire – they made a squealing noise while traveling through the pipe, like a pig, which gave the method its name.
The starting phase of an otherwise benign pig launch.
“This is where you could have easily put explosives on the Nord Stream 2 pipeline,” suspects Mark Rossano of C6 Capital Holdings. Mr. Rossano continues: "You would know in which direction it exploded based on which way the metal is bent. Is it bent outwards, facing in which direction…? And then if it’s something where it was done from external, obviously everything would be bent inward. We could get a decent amount of information just from pictures. So we have to wait for it to empty out completely, just for fear of getting too close."
Conjecture aside, Mr. Rossano’s running joke is that “the US diver and the Russian diver bonked heads going down, and they just decided to divide and conquer… who would blow up what.” You can listen to his whole description of pigging and the Nord Stream 2 sabotage by clicking here.
The explosion off the coast of Denmark and Sweden last week – just outside NATO territorial waters, mind you – exacerbates global LNG supply concerns. If gas is not coming through that pipeline then more LNG has to come from the United States, or some other place in the global market, to heat the homes of Danes, Swedes, Germans, the Dutch... and all those other little monarchies this winter. And that’s just the problem. Winter is coming. The clock is ticking. The cold months are a pig’s snort away.
We’re currently in what Rossano calls “the shoulder season.” Prices remain stable for the most part until demand picks up for real. LNG is mainly frozen. Without the pipeline, other methods of transportation will have to be used. Europe is bracing for less product in exchange, plus a drastic slow down in the time it takes for the gas to be delivered. “We have a ton of natural gas in the US,” Rossano says. “We have a ton of natural gas liquids. We really need to focus on tapping that and moving it through the system in the most efficient way.”
The way it works today, however, is fraught with inconsistency… He refers to an archaic policy on the books known as The Jones Act. The Jones Act of 1920 has been a fixture of U.S. law and an imposition on the U.S. economy for almost 100 years.
Keeping up with The Jones Act.
The law was presented as a plan to ensure adequate domestic shipbuilding capacity and a ready supply of merchant mariners to be available in times of war or other national emergencies. A century of evidence supports the conclusion that the Jones Act has failed in its main objectives while imposing substantial economic costs. Rossano continues: "You’re looking at a very inefficient system in the United States purely because of an archaic policy standing in the way of… let’s call it safety. Just an example, there’s no way to get LNG cargo from Houston to Boston because there isn’t a Jones Act vessel.
A Jones Act vessel is a vessel that was built, manned, and flagged in the U.S. So that means if Boston wants U.S. cargo, it has to go from the U.S. to the UK, get put into a tank, get put back on the boat, and then it can come over to Boston. And then it’s not even enough to maintain the pressure of the system. Then they have to take compressed gas in trucks all throughout Pennsylvania, drive them over to injection points along the system, stack them eight to 12 deep, so that if you have a cold spell and people start pulling that gas out quickly, they start lining those trucks up and injecting the gas in order to maintain flow."
All the rules get weird when gas must get shipped across the gargantuan puddle known as the Atlantic. The Cato Institute expands on the Jones Act, calling it “archaic” and “perfunctory”: As a result of these restrictions, the U.S. economy endures artificially inflated shipping costs because the transport of cargo between U.S. ports and within the country’s vast inland waterways is off-limits to foreign competition and domestic shipping firms must pay vastly higher prices for the ships they use.
Basic supply and demand dictates a hellish future for consumers in the coming months. We’ve been anticipating a “Nightmare Winter.” And thus far, we don’t see any reason the trend will change.
"If it was just one bank it wouldn’t be a concern. I am hearing from multiple banks and credit unions that they are limiting cash withdrawals out of the ATM. Do you know if your ATM limit has been reduced lately?"
A week ago my credit union website had a large notice warning of "wide spread debit card fraud." On Tuesday was a notice that "All ATMs in all branches are unavailable." Today a new warning that "Online services for inquiries and transactions are unavailable." "Something" is very definitely happening... and it's not good. - CP
“To some, the outline of the open cluster of stars M6 resembles a butterfly. M6, also known as NGC 6405, spans about 20 light-years and lies about 2,000 light years distant. M6 can best be seen in a dark sky with binoculars towards the constellation of Scorpius, coving about as much of the sky as the full moon.
Like other open clusters, M6 is composed predominantly of young blue stars, although the brightest star is nearly orange. M6 is estimated to be about 100 million years old. Determining the distance to clusters like M6 helps astronomers calibrate the distance scale of the universe.”