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Authored by Michael Snyder via The Economic Collapse blog,

During the summer, many of the experts repeatedly assured us that the U.S. economy would be able to avoid a recession, but now reality is setting in. 

Credit conditions continue to tighten, home sales are falling, credit card losses are exploding, stores are closing all over the country, and the number of bankruptcies is rising to very alarming levels.  Meanwhile, the cost of living continues to become more and more suffocating.  If you have a gut feeling that very hard times are on the horizon, you are definitely not alone.  As you will see below, a staggering 71 percent of all Americans currently believe that America is on the wrong track, and our economy is one of the biggest reasons why they feel this way. 

The following are 10 numbers which prove that the U.S. economy has hit a major pivot point…

#1 Consumer confidence was down more than expected this month…

#2 The Conference Board’s index that measures future expectations has actually dropped below a level that historically signals “a recession within a year”…

#3 With mortgage rates at suffocating levels, sales of new homes in the U.S. fell 8.7 percent last month…

#4 A record high percentage of U.S. consumers are indicating that credit conditions are getting tighter…

#5 Credit card losses are increasing at the fastest pace in 30 years…

#6 At this point, things are getting so bad that even the Federal Reserve is laying off about 300 workers…

#7 The number of bankruptcy cases in the United States has increased on a year over year basis for 13 months in a row…

#8 Goldman Sachs is warning that America’s strategic oil reserve has hit a 40 year low…

#9 It is being projected that the price of oil could eventually reach 150 dollars a barrel.  Needless to say, such a development would radically change our economic outlook…

#10 A new NBC News poll has found that 71 percent of Americans believe that the country is on the wrong track…

For more than a year, there has been speculation about when the next wave of our economic crisis would arrive.

Well, it appears that it is here.

The months ahead promise to be very challenging, and the long-term outlook is even worse.

2024 is certainly shaping up to be quite a year.

Economic conditions will be deteriorating just as we head into the most tumultuous election season that we have ever witnessed.

Stay safe out there, because things will soon start getting really crazy in this country.

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Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.