The event has triggered fears of cascading bank failures, with economists warning about rising risks and mounting stress for almost 300 institutions. As economic uncertainty continues to weight on financial markets and add pressure on the commercial real estate sector, many banks that seem too big to fail are now facing unprecedented losses that could put them on a very destructive path, the experts say.

In the final days of April, Republic First Bank, a Pennsylvania-based financial institution has collapsed. Earlier this week, the FDIC issued a note saying it had stepped in to protect $6 billion in assets and $4 billion in customer deposits. The federal agency transferred the deposits to another regional bank after an agreement was reached.

Struggling under the regime of higher interest rates, Republic First Bancorp suffered painful losses due to its high exposure to the commercial real estate market. The bank’s fourth quarter report cited “serious difficulties amid an elevated interest rate environment,” with executives noting last year that the Fed’s monetary policy to curb inflation “severely hurt” its commercial real estate portfolio.

The sector, which has been facing numerous challenges since the COVID-19 pandemic, accounted for nearly half of Republic Bank’s loan book. The institution was also facing other significant problems, including low liquidity and battles with activist investors. In October 2023, Republic Bank managed to secure $35 million in funding from a group of investors led by George Norcross, but that plan fell apart in February.

Now, another regional lender has come forward to rescue the bank’s assets. Fellow Pennsylvania-based bank Fulton Financial Corp has agreed to acquire all of Republic’s assets and over $5.3 billion in liabilities. On Saturday, Republic Bank’s 32 branches in New Jersey, Pennsylvania and New York will reopen as branches of Fulton Bank, reports say.

The move represents the latest crack – and the latest bandage job – in the distressed regional-banking industry. The failure marked the first major bank collapse of this year, following five that occurred in 2023, as the Fed’s rate hikes destabilized the balance sheets of big financial players. When Silicon Valley Bank (SVB) collapsed last spring, many economists warned that more could follow – and their predictions have been proven accurate. Signature Bank, First Republic Bank, Heartland Tri-State Bank, and Citizens Bank, all collapsed in the succeeding months, as a result of the financial instability caused by policymakers.

Though official agencies and corporate CEOs cite improving economic conditions in their latest reports, most U.S. consumers have yet to report experiencing some financial relief this year. In fact, a LendingClub survey found that 66% of Americans are still feeling the pinch of higher food prices on their monthly budgets, and that may be especially true for Whole Foods’ and Amazon Fresh customers.

A few weeks ago, one Amazon customer went viral on TikTok for exposing some of the insane prices for everyday staples she had seen at her local Whole Foods store in Boston. The woman, who goes by the username @via..li on the social media platform, posted a video about her expensive purchases, which has been shared by hundreds of thousands of users, and re-shared on various websites.

So why is Walmart closing its stores? Walmart is facing multiple closures and besides the stores Walmart closed in 2023, a dozen more stores had been considered one of the few lifelines for many communities across the United States.

They are actually beginning to close these lifelines. Patriots, it’s time to stock up and buckle down. We, the American People, have been thrown under the bus, stepped on by our elected representatives, and sold out. We’re about to face a retail apocalypse like we’ve never seen before, so get ready.

Today, we’re going to dive in and cover 15 foods to stockpile that never expire, especially if stored correctly. Many of these foods can be critical to survival, providing much-needed nutrients and energy when fresh options may be limited. For those who have kept up with current events, supply chain shortages across the globe, at the Red Sea, and in other various areas may very well result in shortages affecting even basic foods.

American Patriots, the time is coming that we will have to face supply chain attacks, attacks on our American homeland, and food shortages like we’ve never before seen. That also means that the time is coming for American patriots to prepare and stock up – for your own survival and wellbeing.

Here’s the list:

1. Rice
2. Soy Sauce
3. Instant Coffee
4. Corn Starch
5. Liquor
6. Canned Fruits and Vegetables
7. Honey
8. Dehydrated Foods
9. Spam
10. Baking Soda
11. Powdered Eggs
12. Whole Grains
13. Teabags
14. Canned Soup
15. Peanut Butter

Leave your thoughts, questions, or survival tips at our Late Prepper Substack.

However, the trend is still worsening over time. About 90% of these older adults have seen a decrease in their income, which puts the retirement crisis at a high rate. But the question remains: what is the solution to this retirement crisis? How do we manage it?

The U.S. retirement system has not only become more of a savings system but less of an income system. And this has resulted in a big risk! Workers will outlive their savings.

But here is the truth: The majority of older households that are approaching retirement simply are not financially prepared.

The most important measure that shows you are financially ready is your ability to replace working income after you retire. But that is far from what most Americans do because they hardly maintain their standard of living.

As a rule of thumb, most people will need to replace at least 70% of their wage income in retirement. Notwithstanding, those who have not been able to save much for retirement will depend solely on Social Security, which will typically replace only about 40% of pre-retirement income.

We unravel the complexities surrounding BlackRock’s influence in this eye-opening investigation. We discovered discrepancies between their sustainability promises and the reality of their environmental impact, raising questions about their true commitment to a greener future.

But that’s not all; learn about their role in the housing market as well as the controversies surrounding their vast holdings. Learn how their actions may unintentionally contribute to the housing crisis, affecting communities and affordability.

Let us also discuss corporate governance. Is BlackRock representing the interests of everyday investors, or does their clout benefit a select few? Join us as we dissect the financial implications of their power play.

Weaker-than-expected harvest seasons and other manufacturing challenges have hit the biggest food companies in the country really hard throughout the year. And now, many retailers are already reporting inventory holes at a time when they should be receiving more supplies to prepare for the all-important holiday season.

For example, Americans might have to go out of their way to find asparagus for their holiday recipes next month. Michigan, California, and New Jersey reported an 11% reduction in the number of asparagus crops planted this year, and farmers also cited losses caused by fungus and beetles during the harvest season.

While more people will be looking for the veggie at big-box stores in the weeks ahead, retailers won’t likely be able to fulfill the entire demand. At local farmers’ markets, prices can be higher this season, but you’ll have greater chances of getting what you need for the perfect holiday dinner.

Similarly, flour, butter, shortenings, and oils are not only costing more but also becoming more scarce at grocery stores in 2023. The worldwide shortage of grains has been pushing the production of flour and vegetable oils down since 2022. Meanwhile, dairy products are being impacted by higher cow slaughter this year. And now that seasonal demand for baking supplies is about to grow home and professional bakers might have to fight for the available supply, according to Bloomberg. With holiday celebrations about a month away, many bakers have already started stocking up on the ingredients they’ll need. Those who haven’t yet should start making preparations now because many products may be sold out over the next couple of weeks.

You also might have heard about the massive decline in U.S. cattle production this year. A historic drought, rising fuel, and feed costs, as well as labor shortages, have all combined to create a perfect storm for the nation’s ranchers. Prices are expected to soar, too. According to the USDA, they are likely to double from a year ago levels.

The best cuts, including filet mignon and ribeye, will not only face even bigger price increases but also become harder to find, given that this year’s beef cows were much smaller than usual, and produced less meat. If you haven’t purchased steak for your holiday celebrations yet, don’t wait too long because you may struggle to get what you want.

Weather emergencies, supply chain disruptions, and an ongoing freight market crisis will exacerbate shortages and prevent retailers from restocking their shelves over the next weeks and months. Don’t wait until the last minute to search for the products you will need because you might end up paying a lot more than you would if you had prepared sooner. The holiday shopping frenzy has only just begun, and we should brace for a whole lot of chaos at U.S. stores next month.

In this video, we tracked the new product shortages that are about to hit the U.S. market in December and beyond so you can stay ahead of the shortages and get ready for the dark winter that is ahead of us.

The List

• Baking Supplies
• Asparagus
• Antibiotics
• Maple Syrup
• Dijon Mustard
• Baby Formula Mix
• Salmon
• Lentils
• Vanilla
• Mango
• High-Quality Beef Cuts
• Winter Clothing
• Grapes
• Pet Food
• Sweet Potatoes

A report from credit analytics firm TransUnion found that the average U.S. household is struggling to keep up with near 8% mortgage rates, and many are already losing their properties as they get underwater on their mortgage loans.

On top of that, with buyers priced out and more sellers slashing their prices to sell properties before the end of 2023, many major cities are already seeing double-digit quarterly declines, such as San Francisco, where home prices came down by as much as 15% in the third quarter, as well as Seattle, and Austin, which reported a respective drop of 12% and 11% drop during the same period.

The red flags of a housing crash are becoming more apparent. If you’re new to our channel, thank you for joining us. Today, we will break down the latest data on the real estate market meltdown. And if you’re a regular here, thank you for your support. We have a lot to cover today, so we hope you’re prepared to hear this.

Over the past couple of weeks, major signs of distress emerged in the U.S. housing market, leading experts to worry about where we’re headed. Fortune said that the market is starting to “crack,” while Wells Fargo economists predicted a real estate recession due to rising mortgage rates.

To put it simply, between the high cost of the home and the elevated interest payments, many Americans simply can’t afford to purchase a new home anymore. As a result, sellers are slashing their listing prices right now. Redfin’s most recent housing market update indicates that approximately 1 in 15 U.S. homes on the market decreased in price in the past quarter. Compared to the same period in prior years, this is an alarmingly high rate.

To make things even worse, more than one in 10 homes bought in the past year are worth less than what owners owe on their mortgage. That’s what the new report released by real estate data firm Black Knight shows. About 11% of people who borrowed to buy homes in 2022 now owe more than the properties are worth, a figure that has steadily climbed since the start of 2023.

Moreover, more than one out of every four buyers who purchased a home in the 11 months of 2023 have properties worth less than the loans on them, meaning that they are already underwater on their mortgages and at risk of being foreclosed. That’s a very worrying development. Rising delinquency rates are an indication that conditions will get even more chaotic because once a mortgage payment is more than 90 days overdue, the threat of foreclosure becomes imminent. It is feared hundreds of thousands of Americans could be impacted by foreclosure in December.

The credit crisis can also play a major role as more expensive borrowing costs could further reduce the affordability of homes. When access to credit becomes more restricted, it can impact the number of potential buyers, and slow down property sales. In addition, global economic events, such as ongoing geopolitical conflicts, China’s economic downturn, and global food shortages can spill over into local property markets, affecting investor sentiment and confidence.

Ultimately, the coming housing crash will destroy the wealth many hard-working families took decades to build. And that’s the saddest part of this crisis because we can already see the slow-motion train wreck happening before our eyes. But the Federal Reserve and the federal government are still going to let it happen. It’s only by taking the equity of the bottom 90% of Americans that they will be able to stop the bleeding caused by the trillions of printed dollars that they pumped into the economy since 2020.

Don’t be mistaken. This is a man-made disaster. They want you to lose everything you worked for so that they can bring inflation down again.

After over a year of continued gains, new data shows that the vehicle sector has entered a bear market. In the second and third quarters, the market shifted into lower gear, and now analysts predict that an oversupply of vehicles will lead to an end-of-year price war that will finally bring affordability back to somewhat ‘normal’ levels.

But experts with Cox Automotive – the owner of the closely followed Manheim Vehicle Value Price Index – say there’s a light at the end of the tunnel as wholesale prices continue to drop in November. Just in the first 15 days of the month, dealers paid almost 2.3% less for vehicles at auction in the U.S. And now, wholesale prices are down by 5.3% amid falling demand and surging inventories.

This means a downward spiral is already in motion. Wholesale price drops usually become retail price drops after about six to eight weeks. And retail prices are already dropping. On Friday, the Manheim Index for used vehicles fell to 206.1, meaning that it officially entered a bear market with a 20% decline. Meanwhile, new car prices have been getting better for months. The Index also shows that pickups are selling for about 4.2% less at auction right now, and SUVs for 4.8% less. Compact cars are down 10.7%, and midsize cars about 8%. Broadly, the difference in average price between new and used is back to where it was in 2019.

While that’s great for would-be buyers who have been waiting for some relief for almost two years, it is also a sign that manufacturers are already experiencing financial losses. UBS estimates that car production will exceed sales by 6% this year, resulting in an excess of 5 million cars that will require sizable price cuts to be sold before the end of the year. Some of these price cuts have already happened, with electric vehicle makers Lucid and Tesla slashing the prices of popular models by nearly $20,000.

Manufacturers and dealerships are in panic mode ahead of the holiday season. They are motivated to clear out their inventory by year-end, and that can trigger a rush to the bottom that may result in an ugly downturn for the industry. Theyneed to make room for the incoming 2024 models, and every day a 2023 model sits on the lot, it eats into their profits. The longer a car remains unsold, the more it costs in terms of dealership floorplanning expenses.

Companies are giving 2023’s year-end sales everything they’ve got. Those who have been waiting for low APR financing, shouldn’t miss this chance because this opportunity could be gone by January. There are only about six weeks left before the end of the year, and the final quarter always carries extra weight for car makers and dealerships. Meeting sales goals is now a top priority, both for business success and employee bonuses. Consequently, there’s added pressure to sell every vehicle possible in December.

Expect to see the sharp declines experts have been warning about throughout the whole year. Prices are likely to drop more abruptely than anticipated as companies try to boost their financial results to mask their losses, and divert the attention from the crisis that is unfolding in the sector with some short-term gains.

The nation’s shrinking cattle herd combined with surging input costs at U.S. farms and ranches have pushed wholesale meat costs to over $8 per pound, official data shows. Analysts predict that the figure could jump above the $ 10 mark in December due to the seasonal spike in demand. As a comparison, beef costs in 2022 were hoovering around the ten-year average of $5 per pound. The rapid price appreciation means that you will have to pay double what you paid a year ago to bring your favorite cut home this winter.

In fact, meat inflation at U.S. stores can be even higher given that the USDA forecast was for wholesale prices, not consumer prices. Adding rising labor and transportation costs to the mix, a pound of ground beef could be selling for $8.99 next month. A pound of sirloin is expected to reach $14.00, while T-bone, and ribeye, can reach $15.39 and $21.99 per pound, respectively.

“Relative to other proteins, beef prices are likely to stay elevated for the next couple of years due to tighter supplies,” according to Wells Fargo Agri-Food Institute sector manager Courtney Schmidt. “All consumers will be paying more for all beef products for several more years,” added Wells Fargo’s Chief Agricultural Economist Michael Swanson.

Retailers are already reporting leaner deliveries and falling meat supplies at stores. Ranchers, who would normally thrive on record prices, are instead struggling to maintain their business. Low rainfall in prime cattle-raising land is turning green pastures into dust fields. Limited supply and increasing costs are likely to cause changes in food service menu items. “The prices of menu items may go up, including burger patties, as businesses try to maintain their profit margins,” Wells Fargo’s Swanson said.

Fast food chains, including McDonald’s, Burger King, and Shake Shack, are some of the biggest buyers of meat in the U.S. market. In 2024, they might have to conduct another round of price hikes to offset the rising cost of beef. These companies are also being encouraged to launch more plant-based alternatives to reduce their environmental footprint amid climate change.

In other words, we will have to get used to eating meat alternatives instead of the real thing. Beef is becoming a delicacy reserved only for the bourgeoisie. For now, this crisis will continue to add pressure on ranchers, restaurateurs, and average consumers. Until cattle numbers grow, input costs decline, and the economic storm abates, Americans will be forced to either change their diets or pay the price.