Increasing Global Economic Collapse: The Numbers Tell Us That The ‘Economic Recovery’ Is Dead And Businesses Are Failing At A Staggering Pace
July 24, 2020 by IWB Michael Snyder
Even though economic conditions were absolutely awful, during the month of June the mainstream media kept insisting that the U.S. economy was “recovering” and the stock market kept surging on every hint of good news. But now the “economic recovery” narrative is completely dead, because the numbers clearly show that the U.S. economy is rapidly moving in the wrong direction. On Thursday, the Labor Department announced that another 1.416 million Americans filed new claims for unemployment benefits last week. Prior to this year, the all-time record for a single week was just 695,000, and so we are talking about a level of unemployment that is absolutely catastrophic. But what is really alarming many analysts is that the number for last week was quite a bit higher than the number for the week before. Many states are rolling out new restrictions as the number of confirmed COVID-19 cases continues to surge, and this is having a huge impact on economic activity. For months I have been warning that fear of COVID-19 would prevent economic activity from returning to normal levels for the foreseeable future, and that is precisely what has happened.
Overall, more than 52 million Americans have filed new claims for unemployment benefits over the past 18 weeks, and that makes this the biggest spike in unemployment in U.S. history by a very wide margin.
In fact, this dwarfs all previous spikes by so much that the others are not even worth mentioning.
Of course it isn’t just the employment numbers that are depressingly bad. According to Jefferies, in late June 19 percent of all U.S. small businesses were closed, but now that number has risen to 24.5 percent…
As of Sunday, 24.5% of small businesses in the United States were closed, according to Jefferies. That is worse than late June, when only 19% were closed. Jefferies pointed to “particular weakness in COVID hot spots” and noted that small business employment had dropped to levels unseen since the end of May.
Just think about that number for a minute.
Nearly a quarter of all small businesses in the entire country are closed.
And the really bad news is that many of them will never end up reopening.
At the beginning of the pandemic, I received a lot of criticism for stating that many of the small businesses that were shutting down at that time would never open again, but over the long-term the numbers have shown that I was correct.
In fact, Yelp says that a whopping 60 percent of the restaurants that were initially listed as “temporarily closed” on their site are now classified as permanently closed…
It’s tough out there for restaurants and other small businesses.
Yelp’s Economic Average report out Wednesday shows exactly how tough: 60 percent of the 26,160 temporarily closed restaurants on the business review site as of July are now permanently shut. Temporary closures are dropping, and permanent shutdowns are increasing.
Fear of COVID-19 is going to cause a large portion of the population to continue to avoid restaurants for as long as this pandemic persists, and it is becoming clear that it is likely to persist for a long time to come.
We are going to lose so many small and independent places to eat. Many of the big corporate chains that have very deep pockets will survive, at least for a while, but there is simply no replacing what small and independent restaurants mean to our communities.
Bars and clubs are being hit extremely hard as well. According to Yelp, 44 percent of the bars and clubs on their site that were initially listed as “temporarily closed” have now been shut down on a permanent basis…
Bars and clubs are also closing forever at high rates: 44 percent (as of July) of 5,454 temporarily shuttered bars and other nightlife establishments are shut for good.
Other sectors of the economy are doing relatively better, but the overall outlook for small businesses in America is exceedingly bleak.
In New York City, it is being projected that one-third of all small businesses will never be able to open again…
As many as 76,000 small businesses in New York City – a third of the 230,000 citywide – may never reopen after forced to close during the COVID-19 lockdown, business leaders have warned.
The Partnership for New York City, a not-for-profit organization that connects business leaders with local government, predicted that 76,000 small businesses will never be able to reopen in a report produced by 14 consulting firms.
I know that number is hard to believe, but this is actually happening.
Our politicians want to encourage people “to go back to work”, but for millions upon millions of Americans the jobs that they once had are gone forever.
Air travel is another industry that is being absolutely devastated by this pandemic. After a modest bounce in June, the number of air passengers is starting to fall again…
The resurgence of coronavirus infections is derailing the travel industry’s modest recovery. The number of air passengers processed through TSA security lines fell during the week ended July 20, compared with the prior week, according to Bank of America. This metric is down more than 70% from a year ago.
United (UAL) CEO Scott Kirby told CNBC on Wednesday that the airline doesn’t “expect to get anywhere close to normal until there’s a vaccine that’s been widely distributed to a large portion of the population.”
All of the numbers that I have shared in this article tell us that we are in an economic depression.
Many had hoped that this economic downturn would be short-lived and that a “V-shaped recovery” would commence once the coronavirus lockdowns were lifted.
But instead a resurgence of cases has caused new restrictions to be implemented, and economic activity is slowing down again.
The bottom line is that all of us need to get prepared to weather a long-term economic storm that is going to be incredibly painful.
The last recession was bad, but it isn’t even worth comparing to the times that we are entering now. All of our lives are being turned upside down, and a lot of people are not going to be able to handle what comes next.
Acts 2:17-21 And it shall come to pass in the last days, saith God, I will pour out of my Spirit upon all flesh: and your sons and your daughters shall prophesy, and your young men shall see visions, and your old men shall dream dreams: And on my servants and on my handmaidens I will pour out in those days of my Spirit; and they shall prophesy: And I will shew wonders in heaven above, and signs in the earth beneath; blood, and fire, and vapour of smoke:
Joel 2:28 And it shall come to pass afterward, that I will pour out my spirit upon all flesh; and your sons and your daughters shall prophesy, your old men shall dream dreams, your young men shall see visions:
The ‘Fuse’ has been lit; A Man That Saw The Catastrophic Events Of 2020 In Advance Is Now Warning About What Will Happen In November… Prophecy, Dreams and Visions.
Then, it late June, Pastor Coverstone had another dream that pertains to the second half of this year. The following is another excerpt from the transcript of his original video that my wife made…
With that in mind, on Monday night I had another dream.
It woke me from my bed. I made notes about it. I shot some video of myself just making sure to remember.
Here’s what I saw.
I saw a calendar. Start with the calendar. As I was having this, the calendar was up, a white figure appeared. To me, it was a representing God the Holy Spirit, something pure, something righteous, something true, something Holy because there was nothing sinister about it. Nothing evil, but I heard the voice say, “part two, part two”.
I saw June, go, I saw July. I saw August, and then I saw September, and I saw the finger underneath the word September and I like like emphasizing it and tap the three times.
Then I saw October come up, and then I saw November and this is when it got real to me in the dream. I think the intensity for me… when I woke up my heart rate was about 180.
So that was Monday night, and I woke up not feeling very well at all I was up during the night not feeling well.
But anyway,… The minute the finger underlined November three times instead of tapping it, I saw a fist ball up and it hit the calendar.
And literally, the calendar exploded into the wall, the numbers seem that they were 3d and they were falling everywhere.
There was a cloud of chaos that started in there. The next thing I saw was I saw I saw armed protesters. I saw fighting in the streets, I saw people pummeling one another. I saw businesses shuttered and shut up.
I saw schools close. I saw school rooms with cobwebs hanging in them and like things like papers falling off the wall and posters… like no one had been in them for months.
I saw banks. Bank buildings with the roof being taken off. It looked almost that alien abduction because money was flying through the roof into some type of like a vacuum cleaner. It sounds kind of strange, but I was watching wealth, just being taken. I saw politicians in back rooms, making deals with people. Patting people on the back and laughing and smiling and smirking.
Considering the fact that “part one” ended up being completely accurate, what Pastor Coverstone was shown in “part two” should be extremely sobering for all of us.
It appears that things will start to really escalate starting in September, and it appears that November will be some sort of major turning point.
Sadly, Pastor Coverstone is being relentlessly attacked on social media for sharing what he was shown, and that is extremely unfortunate.
We live at a time when there is so much hatred in this country, and it is only going to get worse.
This chapter in American history is going to be a very painful one, and most of the U.S. population still has absolutely no idea what is coming.
In His Service,
Night Watchman Ministries
Make Your Decision for Christ NOW!!!!!!! Time is Up!!!!!!!
Jesus Christ’s Offer of Salvation:
The ABCs of Salvation through Jesus Christ (the Lamb)
A. Admit/Acknowledge/Accept that you are sinner. Ask God’s forgiveness and repent of your sins.
. . . “For all have sinned, and come short of the glory of God.” (Romans 3:23).
. . . “As it is written, There is none righteous, no, not one.” (Romans 3:10).
. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us.” (1 John 1:8).
B. Believe Jesus is Lord. Believe that Jesus Christ is who He claimed to be; that He was both fully God and fully man and that we are saved through His death, burial, and resurrection. Put your trust in Him as your only hope of salvation. Become a son or daughter of God by receiving Christ.
. . . “That whosoever believeth in him should not perish, but have eternal life. For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. For God sent not his son into the world to condemn the world; but that the world through him might be saved. (John 3:15-17). For whosoever shall call upon the name of the Lord shall be saved.” (Romans 10:13).
C. Call upon His name, Confess with your heart and with your lips that Jesus is your Lord and Savior.
. . . “That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved. For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” (Romans 10:9-10).
. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us. If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness. If we say that we have not sinned, we make him a liar, and his word is not in us.” (John 1:8-10).
. . . “And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world. (John 2:2).
. . . “In this was manifested the love of god toward us, because that God sent his only begotten Son into the world, that we might live through him. And we have seen and do testify that the Father sent the Son to be the Saviour of the world. Whosoever shall confess that Jesus is the Son of God, God dwelleth in him, and he in God.” (1 John 4:9, 14-15).
. . . “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.” (Romans 5:8-10).
. . . “For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.” (Romans 6:23).
. . . “Jesus saith unto them, I am the way, the truth, and the life, no man cometh unto the Father, but by me.” (John 14:6).
. . . “For I am not ashamed of the gospel of Christ: for it is the power of God unto salvation to everyone that believeth.” (Romans 1:16).
. . . “Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved.” (Acts: 4:12).
. . . “Who will have all men to be saved, and to come unto the knowledge of the truth for there is one God, and one mediator between God and men, the man Christ Jesus.” (1 Timothy 2:4-6).
. . . “For God did not appoint us to suffer wrath but to receive salvation through our Lord Jesus Christ.” (1 Thessalonians 5:9).
. . . “But as many as received him, to them gave the power to become the sons of God, even to them that believe on his name.” (John 1:12).
True Church / Bride of Christ Spared from God’s Wrath:
Romans 5:8-10. “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.”
Romans 12:19. Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord.
1 Thessalonians 1:10. And to wait for his Son from heaven, whom he raised from the dead, even Jesus, which delivered us from the wrath to come.
1 Thessalonians 5:9. For God hath not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ,
Romans 8:35. Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword?
Jeremiah 30:7. Alas! for that day is great, so that none is like it: it is even the time of Jacob’s trouble, but he shall be saved out of it.
Revelation 3:10 Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth.