All-Time High 55% Of Americans Say That Their Financial Situations Are Getting Worse

Authored by Michael Snyder via The Economic Collapse,

Americans were not even this stressed about their financial situations during the Great Recession. As you will see below, a brand new Gallup survey has discovered that 55 percent of Americans believe that their finances are getting worse. That is higher than any reading that Gallup recorded during the recession of 2008 and 2009, and it is higher than any reading that Gallup recorded during the pandemic. But of course this shouldn’t exactly be a surprise to any of us. We have been in a historic cost of living crisis since 2020, and our standard of living has been steadily deteriorating as the purchasing power of our money has gone down.

If you are making the same amount of money as you did at the beginning of this decade, you are in far worse shape financially today.

That is just the reality of the time that we are living in.

The cost of just about everything has been going up and up and up.

As a result, people are more concerned about the economy than anything else.

According to Gallup, the percentage of Americans that believe that their finances are getting worse has been rising for five years in a row and is now at the highest level ever recorded…

Americans’ financial outlook in 2026 is also historically poor, with a record 55% now saying their financial situation is getting worse. While similar to last year’s 53%, this is up from 47% in 2024 and marks the fifth consecutive year more Americans say their finances are worsening rather than improving.

The only similar multiyear period when the larger share felt their financial situation was worsening was during the Great Recession.

At this stage, there is no denying the trend that we are witnessing.

Gallup found that Americans are particularly concerned about monthly bills, healthcare and retirement…

Majorities worry about not having enough money for retirement (62%) and being unable to cover medical costs in the event of a serious accident or illness (60%). Slightly smaller majorities (54% each) worry about their investment returns and maintaining their standard of living.

Nearly half are concerned about routine healthcare costs (48%), while 41% worry about paying their normal monthly bills and 40% about affording college. Fewer worry about housing costs (35%) or making minimum credit card payments (28%).

Living paycheck to paycheck is not fun at all.

Many of you know exactly what I am talking about.

Today, much of the country is just one major setback away from financial ruin…

According to a recent national survey, a little over $6,000 in additional debt is all it takes to push a family over the edge. Six thousand dollars. The cost of a half-decent secondhand car. A modest kitchen renovation. In the country that put a man on the moon, mapped the human genome, won two world wars, and produces more billionaires per capita than anywhere on earth, that’s the cliff edge.

The old vocabulary no longer fits. The conservative catechism of thrift, discipline, and delayed gratification has aged poorly in light of the evidence. Tariffs, as the survey notes, rippled through supply chains and left a sizeable dent in consumers’ pockets. Health care waits in the background, capable of dismantling a decade of careful saving with a single bad diagnosis. American households have always lived under financial pressure. The difference now is the direction — or rather, the directions. It is coming from everywhere at once, which is what makes it almost impossible to outrun.

The middle class is being systematically eviscerated all around us.

It is a national crisis that just keeps intensifying year after year.

As finances have gotten tighter and tighter, millions upon millions of Americans have fundamentally changed their behavior…

The response has been behavioral rather than political, which is another way of saying people have given up waiting for someone to fix it. Nights out get canceled. Rent falls behind. Medical appointments get postponed and rarely rescheduled. None of this is irrational. When survival takes priority, everything else enters a waiting room with no clear appointment time. What makes it particularly disturbing is that financial distress doesn’t stay financial. It moves through relationships and communities, rearranging what people believe is possible for themselves.

Some will call it hyperbolic to suggest the American Dream is dead. Perhaps. But a dream balanced on a six-thousand-dollar ledge, in a stiff wind, is not exactly thriving. With energy prices soaring and the probability of a recession climbing with every new data release, the wind is picking up.

What about you?

Have you found yourself changing your spending behavior in recent years in an attempt to save money?

If so, there are countless others that are in the exact same shoes.

Unfortunately, the outlook for the months ahead is not promising at all.

On Tuesday, the average price of a gallon of gasoline in the United States rose to the highest level that we have seen since the war with Iran began…

Gas prices climbed Tuesday to their highest level since the Iran conflict began.

The national average for a gallon of regular hit $4.18, up 15 cents from a week earlier and about $1 higher than a year ago, according to AAA.

As energy prices rise, it is going to affect the cost of everything else too.

Meanwhile, the government just continues to tax us into oblivion.

As I have detailed in other articles, each year Americans are hit with literally dozens of different taxes and fees.

When you add all of them together, some Americans end up paying more than 50 percent of their incomes in taxes and fees.

In fact, Bill Maher is claiming that he pays about 60 percent of his income in taxes and fees…

Even for liberal HBO host Bill Maher, the math behind Tax Day no longer adds up.

Maher took to his platform on “Real Time” to sound the alarm on a staggering personal tax burden that he says claims the majority of his earnings, sparking a wider debate on whether the American government is simply “incompetent and corrupt” despite a $5 trillion revenue stream.

“Last week was Tax Day… I paid to the government, if you add in state tax, local, sales, property, fees, Obamacare, probably almost 60% of what I earn. That’s a lot,” Maher said on a recent episode.

If you have to hand over more than half of what you earn to the government, you are no longer living in a capitalist system.

Some people out there don’t seem to have figured that out yet.

In this environment, you should be thankful if you still have an income coming in, because we continue to see mass layoffs all over the nation.

For example, Nike just announced yet another round of layoffs…

Nike announced a new round of layoffs Thursday affecting approximately 1,400 employees across the organization, mostly concentrated in its technology department.

In a note from COO Venkatesh Alagirisamy, the company said the layoffs were part of Nike’s broader “Win Now” turnaround strategy aiming to reshape its technology team, modernize its Air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams.

Our economy is coming apart at the seams all around us.

And now the crisis in the Middle East threatens to plunge the entire global system into an extended downturn.

We really are facing a nightmare scenario, and it won’t be too long before that is completely and utterly obvious to everyone.

Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Tyler Durden Mon, 05/04/2026 - 04:15

Russia's Oil Revenues Surge As The World Scrambles For Supply

Authored by Felicity Bradstock via oilprice.com,

Following the Russian invasion of Ukraine in 2022, several major world powers introduced strict sanctions on trade with Moscow. Europe and the United States have been gradually decreasing their dependence on Russian gas and other energy products and putting pressure on other countries to do the same, to place a financial strain on Moscow, as the war with Ukraine continues. However, some countries, such as India and China, have used these sanctions as an excuse to buy discounted crude and gas from Russia, in a bid to reduce costs and boost energy security. 

Imports of Russian crude to China and India have increased significantly since 2022. In 2024, China bought a record of more than 100 million tonnes of Russian oil, which contributed nearly 20 percent of its energy imports. Meanwhile, India spent an estimated $140 billion on Russian energy imports. Over the last year, both Asian countries deepened their ties with Moscow following the imposition of high tariffs on imports by the United States. 

Although several countries have decreased their dependence on Russian energy since the invasion of Ukraine, shifting dependence to alternative energy sources, some have been forced to turn back to Russia in the wake of the “largest oil disruption in history”. Even the United States, the main advocate for the imposition of strict sanctions on Russian energy, appears to have changed its tune in recent weeks.

On 16th April, the U.S. Treasury Department extended a sanctions exemption on the sale of some Russian crude, which is expected to be in effect until May 16. This follows a previous sanctions waiver on Russia, which expired on April 11. The move by the Trump administration to ease sanctions is in response to the strain placed on the global energy market following the U.S.-Israeli attack on Iran in February and subsequent closure of the Strait of Hormuz. 

The move is expected to decrease the cost of oil as countries are permitted to legally purchase hundreds of millions of barrels of crude from Russia. A spokeswoman from the U.S. Treasury said: “As negotiations accelerate, Treasury wants to ensure all oil is available to those who need it.”

In recent weeks, it has remained unclear if the Strait of Hormuz will be fully opened again or whether it will remain under threat of attack. On April 10th, Iran reopened the Strait to all commercial ships before closing it once again less than 24 hours later, citing the ongoing U.S. blockade on Iranian ports as the cause.

As the trade outlook in the Middle East remains uncertain, Russian sales of crude to India are expected to remain near record highs in April and May, largely owing to the latest U.S. sanctions waiver. The finances earned from the sale of Russian oil could help Moscow fund its military spending for the war in Ukraine.

India shipped around 2.25 million bpd of Russian crude in March, marking an increase of almost 100 percent compared to February volumes. Russian crude arrivals in Indian ports were expected to reach 2.1 million bpd for the week of April 20 to 27, an increase from 1.67 million bpd the previous week.

The ongoing disruption in the Strait of Hormuz has led India and China to compete for global oil supplies, mainly from Russia, as well as Saudi Arabia. “The competition for Russian crude between India and China has been intense and will continue to be so for June-loading cargoes,” a senior analyst at Kpler, Muyu Xu, told CNBC. “The de facto closure of the Strait of Hormuz is prompting Asian countries to seek cheap crude that is readily available, and Russian crude falls into this category,” added Xu.

Before the War in Iran, China was importing vast quantities of Iranian crude. However, the conflict has caused major disruptions to energy trade as well as led to the destruction of energy infrastructure across the Middle East. This has led China to rely more heavily on Russia for its oil supplies.

It is not just China and India that are turning to Russian energy, as, in April, Indonesia announced plans to buy up to 150 million barrels of oil from Russia. Roughly 20 to 25 percent of Indonesia’s oil imports typically come from the Middle East and traverse the Strait of Hormuz. “Indonesia has now secured a commitment from the Russian government. We can store 150 million barrels in Indonesia to address economic volatility issues,” the Antara state news agency quoted President Prabowo Subianto’s brother Hashim as saying. 

The ongoing Middle East conflict continues to drive up energy prices due to the severe energy trade disruptions, caused largely by the closure of the Strait of Hormuz. This has led many governments to seek alternative energy sources to ensure their energy security for the coming months. The temporary waiver for sanctions on the import of Russian energy is expected to drive up oil and gas trade significantly in the coming months, which could result in more money being channelled into Russia’s war efforts in Ukraine – the exact thing that the United States and Europe were originally trying to avoid by introducing sanctions.

Tyler Durden Mon, 05/04/2026 - 03:30

Peter Schiff: Printing Money Is Not the Cure for Cononavirus



In his most recent podcast, Peter Schiff talked about coronavirus and the impact that it is having on the markets. Earlier this month, Peter said he thought the virus was just an excuse for stock market woes. At the time he believed the market was poised to fall anyway. But as it turns out, coronavirus has actually helped the US stock market because it has led central banks to pump even more liquidity into the world financial system. All this means more liquidity — central banks easing. In fact, that is exactly what has already happened, except the new easing is taking place, for now, outside the United States, particularly in China.” Although the new money is primarily being created in China, it is flowing into dollars — the dollar index is up — and into US stocks. Last week, US stock markets once again made all-time record highs. In fact, I think but for the coronavirus, the US stock market would still be selling off. But because of the central bank stimulus that has been the result of fears over the coronavirus, that actually benefitted not only the US dollar, but the US stock market.” In the midst of all this, Peter raises a really good question. The primary economic concern is that coronavirus will slow down output and ultimately stunt economic growth. Practically speaking, the world would produce less stuff. If the virus continues to spread, there would be fewer goods and services produced in a market that is hunkered down. Why would the Federal Reserve respond, or why would any central bank respond to that by printing money? How does printing more money solve that problem? It doesn’t. In fact, it actually exacerbates it. But you know, everybody looks at central bankers as if they’ve got the solution to every problem. They don’t. They don’t have the magic wand. They just have a printing press. And all that creates is inflation.” Sometimes the illusion inflation creates can look like a magic wand. Printing money can paper over problems. But none of this is going to fundamentally fix the economy. In fact, if central bankers were really going to do the right thing, the appropriate response would be to drain liquidity from the markets, not supply even more.” Peter explained how the Fed was originally intended to create an “elastic” money supply that would expand or contract along with economic output. Today, the money supply only goes in one direction — that’s up. The economy is strong, print money. The economy is weak, print even more money.” Of course, the asset that’s doing the best right now is gold. The yellow metal pushed above $1,600 yesterday. Gold is up 5.5% on the year in dollar terms and has set record highs in other currencies. Because gold is rising even in an environment where the dollar is strengthening against other fiat currencies, that shows you that there is an underlying weakness in the dollar that is right now not being reflected in the Forex markets, but is being reflected in the gold markets. Because after all, why are people buying gold more aggressively than they’re buying dollars or more aggressively than they’re buying US Treasuries? Because they know that things are not as good for the dollar or the US economy as everybody likes to believe. So, more people are seeking out refuge in a better safe-haven and that is gold.” Peter also talked about the debate between Trump and Obama over who gets credit for the booming economy – which of course, is not booming.

We are living in crazy times. I have a hard time believing that most of the general public is not awake, but in reality, they are. We've never seen anything like this; I mean not even under Obama during the worst part of the Great Recession." Now the Fed is desperately trying to keep interest rates from rising. The problem is that it's a much bigger debt bubble this time around , and the Fed is going to have to blow a lot more air into it to keep it inflated. The difference is this time it's not going to work." It looks like the Fed did another $104.15 billion of Not Q.E. in a single day. The Fed claims it's only temporary. But that is precisely what Bernanke claimed when the Fed started QE1. Milton Freedman once said, "Nothing is so permanent as a temporary government program." The same applies to Q.E., or whatever the Fed wants to pretend it's doing. Except this is not QE4, according to Powell. Right. Pumping so much money out, and they are accusing China of currency manipulation ? Wow! Seriously! Amazing! Dump the U.S. dollar while you still have a chance. Welcome to The Atlantis Report. And it is even worse than that, In addition to the $104.15 billion of "Not Q.E." this past Thursday; the FED added another $56.65 billion in liquidity to financial markets the next day on Friday. That's $160.8 billion in two days!!!! in just 48 hours. That is more than 2 TIMES the highest amount the FED has ever injected on a monthly basis under a Q.E. program (which was $80 billion per month) Since this isn't QE....it will be really scary on what they are going to call Q.E. Will it twice, three times, four times, five times what this injection per month ! It is going to be explosive since it takes about 60 to 90 days for prices to react to this, January should see significant inflation as prices soak up the excess liquidity. The question is, where will the inflation occur first . The spike in the repo rate might have a technical explanation: a misjudgment was made in the Fed's money market operations. Even so, two conclusions can be drawn: managing the money markets is becoming harder, and from now on, banks will be studying each other's creditworthiness to a greater degree than before. Those people, who struggle with the minutiae of money markets, and that includes most professionals, should focus on the causes and not the symptoms. Financial markets have recovered from each downturn since 1980 because interest rates have been cut to new lows. Post-2008, they were cut to near zero or below zero in all major economies. In response to a new financial crisis, they cannot go any lower. Central banks will look for new ways to replicate or broaden Q.E. (At some point, governments will simply see repression as an easier option). Then there is the problem of 'risk-free' assets becoming risky assets. Financial markets assume that the probability of major governments such as the U.S. or U.K. defaulting is zero. These governments are entering the next downturn with debt roughly twice the levels proportionate to GDP that was seen in 2008. The belief that the policy worked was completely predicated on the fact that it was temporary and that it was reversible, that the Fed was going to be able to normalize interest rates and shrink its balance sheet back down to pre-crisis levels. Well, when the balance sheet is five-trillion, six-trillion, seven-trillion when we're back at zero, when we're back in a recession, nobody is going to believe it is temporary. Nobody is going to believe that the Fed has this under control, that they can reverse this policy. And the dollar is going to crash. And when the dollar crashes, it's going to take the bond market with it, and we're going to have stagflation. We're going to have a deep recession with rising interest rates, and this whole thing is going to come imploding down. everything is temporary with the fed including remaining off the gold standard temporary in the Fed's eyes could mean at least 50 years This liquidity problem is a signal that trading desks are loaded up on inventory and can't get rid of it. Repo is done out of a need for cash. If you own all of your securities (i.e., a long-only, no leverage mutual fund) you have no need to "repo" your securities - you're earning interest every night so why would you want to 'repo' your securities where you are paying interest for that overnight loan (securities lending is another animal). So, it is those that 'lever-up' and need the cash for settlement purposes on securities they've bought with borrowed money that needs to utilize the repo desk. With this in mind, as we continue to see this need to obtain cash (again, needed to settle other securities purchases), it shows these firms don't have the capital to add more inventory to, what appears to be, a bloated inventory. Now comes the fun part: the Treasury is about to auction 3's, 10's, and 30-year bonds. If I am correct (again, I could be wrong), the Fed realizes securities firms don't have the shelf space to take down a good portion of these auctions. If there isn't enough retail/institutional demand, it will lead to not only a crappy sale but major concerns to the street that there is now no backstop, at all, to any sell-off. At which point, everyone will want to be the first one through the door and sell immediately, but to whom? If there isn't enough liquidity in the repo market to finance their positions, the firms would be unable to increase their inventory. We all saw repo shut down on the 2008 crisis. Wall St runs on money. . OVERNIGHT money. They lever up to inventory securities for trading. If they can't get overnight money, they can't purchase securities. And if they can't unload what they have, it means the buy-side isn't taking on more either. Accounts settle overnight. This includes things like payrolls and bill pay settlements. If a bank doesn't have enough cash to payout what its customers need to pay out, it borrows. At least one and probably more than one banks are insolvent. That's what's going on. First, it can't be one or two banks that are short. They'd simply call around until they found someone to lend. But they did that, and even at markedly elevated rates, still, NO ONE would lend them the money. That tells me that it's not a problem of a couple of borrowers, it's a problem of no lenders. And that means that there's no bank in the world left with any real liquidity. They are ALL maxed out. But as bad as that is, and that alone could be catastrophic, what it really signals is even worse. The lending rates are just the flip side of the coin of the value of the assets lent against. If the rates go up, the value goes down. And with rates spiking to 10%, how far does the value fall? Enormously! And if banks had to actually mark down the value of the assets to reflect 10% interest rates, then my god, every bank in the world is insolvent overnight. Everyone's capital ratios are in the toilet, and they'd have to liquidate. We're talking about the simultaneous insolvency of every bank on the planet. Bank runs. No money in ATMs, Branches closed. Safe deposit boxes confiscated. The whole nine yards, It's actually here. The scenario has tended to guide toward for years and years is actually happening RIGHT NOW! And people are still trying to say it's under control. Every bank in the world is currently insolvent. The only thing keeping it going is printing billions of dollars every day. Financial Armageddon isn't some far off future risk. It's here. Prepare accordingly. This fiat system has reached the end of the line, and it's not correct that fiat currencies fail by design. The problem is corruption and manipulation. It is corruption and cheating that erodes trust and faith until the entire system becomes a gigantic fraud. Banks and governments everywhere ARE the problem and simply have to be removed. They have lost all trust and respect, and all they have left is war and mayhem. As long as we continue to have a majority of braindead asleep imbeciles following orders from these psychopaths, nothing will change. Fiat currency is not just thievery. Fiat currency is SLAVERY. Ultimately the most harmful effect of using debt of undefined value as money (i.e., fiat currencies) is the de facto legalization of a caste system based on voluntary slavery. The bankers have a charter, or the legal *right*, to create money out of nothing. You, you don't. Therefore you and the bankers do not have the same standing before the law. The law of the land says that you will go to jail if you do the same thing (creating money out of thin air) that the banker does in full legality. You and the banker are not equal before the law. ALL the countries of the world; Islamic or secular, Jewish or Arab, democracy or dictatorship; all of them place the bankers ABOVE you. And all of you accept that only whining about fiat money going down in exchange value over time (price inflation which is not the same as monetary inflation). Actually, price inflation itself is mainly due to the greed and stupidity of the bankers who could keep fiat money's exchange value reasonably stable, only if they wanted to. Witness the crash of silver and gold prices which the bankers of the world; Russian, American, Chinese, Jewish, Indian, Arab, all of them collaborated to engineer through the suppression and stagnation of precious metals' prices to levels around the metals' production costs, or what it costs to dig gold and silver out of the ground. The bankers of the world could also collaborate to keep nominal prices steady (as they do in the case of the suppression of precious metals prices). After all, the ability to create fiat money and force its usage is a far more excellent source of power and wealth than that which is afforded simply by stealing it through inflation. The bankers' greed and stupidity blind them to this fact. They want it all, and they want it now. In conclusion, The bankers can create money out of nothing and buy your goods and services with this worthless fiat money, effectively for free. You, you can't. You, you have to lead miserable existences for the most of you and WORK in order to obtain that effectively nonexistent, worthless credit money (whose purchasing/exchange value is not even DEFINED thus rendering all contracts based on the null and void!) that the banker effortlessly creates out of thin air with a few strokes of the computer keyboard, and which he doesn't even bother to print on paper anymore, electing to keep it in its pure quantum uncertain form instead, as electrons whizzing about inside computer chips which will become mute and turn silent refusing to tell you how many fiat dollars or euros there are in which account, in the absence of electricity. No electricity, no fiat, nor crypto money. It would appear that trust is deteriorating as it did when Lehman blew up . Something really big happened that set off this chain reaction in the repo markets. Whatever that something is, we aren't be informed. They're trying to cover it up, paper it over with conjured cash injections, play it cool in front of the cameras while sweating profusely under the 5 thousands dollar suits. I'm guessing that the final high-speed plunge into global economic collapse has begun. All we see here is the ripples and whitewater churning the surface, but beneath the surface, there is an enormous beast thrashing desperately in its death throws. Now is probably the time to start tying up loose ends with the long-running prep projects, just saying. In other words, prepare accordingly, and Get your money out of the banks. I don't care if you don't believe me about Bitcoin. Get your money out of the banks. Don't keep any more money in a bank than you need to pay your bills and can afford to lose.











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The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

The FBI released a summary of its file from the Hillary Clinton email investigation on Friday, showing details of Clinton's explanation of her use of a private email server to handle classified communications. The release comes nearly two months after FBI Director James Comey announced that although Clinton's handling of classified information was "extremely careless," it did not rise to the level of a prosecutable offense. Attorney General Loretta Lynch announced the next day that she would not pursue charges in the matter. "We are making these materials available to the public in the interest of transparency and in response to numerous Freedom of Information Act (FOIA) requests," the FBI noted in a statement sent to reporters with links to the documents. The documents include notes from Clinton's July 2 interview with agents, as well as a "factual summary of the FBI's investigation into this matter," according to the FBI release. Throughout her interview with agents, Clinton repeatedly said she relied on the career professionals she worked with to handle classified information correctly. The agents asked about a series of specific emails, and in each case Clinton said she wasn't worried about the particular material being discussed on a nonclassified channel.