Authored by Michael Snyder via The Economic Collapse blog,

Why has hunger in America absolutely exploded during the past 4 years?  And why are store closings in the United States on pace to set a brand new record high this year?  A lot of people out there don’t want to admit that the U.S. economy has been crumbling for a long time.  One recent survey discovered that 70 percent of Americans are the most financially stressed that they have ever been in their entire lives.  That figure alone tells us that we have a major economic crisis on our hands.  The cost of living has been rising much faster than paychecks have been, and most of the country is just barely scraping by from month to month.  Anyone that attempts to deny this is simply not living in reality.

According to Axios, 15.6 percent of Americans are now dealing with food insecurity.  Sadly, that figure has nearly doubled since 2021…

In May, 15.6% of adults were food insecure, almost double the rate in 2021. At that time Congress had beefed up SNAP benefits and expanded the Child Tax Credit driving down poverty rates, and giving people more money for food.

This is where we are at guys.

Millions upon millions of Americans are going hungry on a regular basis, and demand at food banks all over the nation has skyrocketed.

For example, demand at a food bank network in Philadelphia is up 120 percent over the past three years…

In Philadelphia, the Share Food Program, a major food bank network, has reported a 120% increase in demand over the past three years. “As soon as the government support pulled back in 2022, we started to see the numbers go up,” the outlet quoted Executive Director George Matysik as saying.

And the Atlanta Community Food Bank is reporting that demand is up 60 percent over the past three years…

New data shows food insecurity is worsening across Georgia, with the Atlanta Community Food Bank reporting a 60% increase in demand for meals over the past three years.

According to a study by Feeding America, one in five children and one in ten seniors in Georgia are facing hunger. The issue is particularly severe in the South, where nearly 90% of counties with high food insecurity rates are located.

Unfortunately, a large percentage of Georgians – over 57% — don’t meet the criteria for federal assistance like SNAP.

Those that are trying to convince us that everything is okay just need to stop.

Everything is most definitely not okay.

If things were okay, U.S. store closings would not be on pace to set a brand new all-time record high this year…

Store closures across the U.S. continue to rise, and remain on track to far significantly surpass both new openings and the figures seen in 2024.

According to a new report from research and advisory firm Coresight Research, cited by CoStar News, 5,822 store closures were recorded as of June 27, compared to 3,496 closures announced during the same period of 2024.

There is no way that you can spin those numbers.

Stores are either closing or they are not.

Meanwhile, large employers throughout the nation continue to conduct mass layoffs.

Today, we learned that Intel is giving the axe to hundreds of workers in Oregon…

Intel plans to lay off 529 Oregon employees by July 15, according to a notice newly filed with state workforce officials. These are the first of sweeping job cuts that will ultimately eliminate several thousand positions across the company.

The chipmaker will cut jobs at all its major Oregon campuses and across various business units. Engineers comprise nearly 300 of the Oregon workers losing their jobs in this round of layoffs, according to Intel’s filing.

And Levi Strauss has decided to eliminate hundreds of jobs in Kentucky…

Levi Strauss & Co. is axing hundreds of jobs by closing a distribution center in Hebron, Kentucky.

The company, known worldwide for its iconic denim, is axing 346 jobs as a result of the closure.

The layoffs are expected to begin on August 18 or during a 14-day period beginning on that date.

This reminds me so much of 2008 and 2009.

And just like 2008 and 2009, home sales have fallen to extremely depressing levels.

At this stage, condo sales are dropping particularly rapidly…

Sales are sliding just as fast. Markets like Dallas, Palm Bay, Port St. Lucie, and Orlando saw condo sales drop over 30 percent year-over-year, with Florida again dominating the list of hardest-hit areas. Condo prices are falling for a number of reasons. One major factor is that the market is flooded. There are 80 percent more condo sellers than buyers.

The condo bubble has officially burst, and prices are now absolutely plunging in markets that were once considered to be very hot…

The biggest condo price drops are hitting Florida and Texas. In May, Deltona, Florida saw prices fall over 32 percent year-over-year — the steepest decline nationwide. Crestview, Florida (down 32 percent), Houston, Texas (down 23 percent), Tampa, Florida (down 19 percent), and Oakland, California (down 20 percent) also faced sharp drops. Seven of the top ten metros with the largest price declines were in Florida, two in Texas. Sellers in parts of Florida have had to drop prices below $10,000.

Can anyone out there dispute the facts that I have just presented?

Of course not.

Economic conditions really have gotten worse than they once were.

The primary reason why the Democrats lost the last election is because the economy deteriorated substantially while Joe Biden was in the White House.

Today, most Americans can remember a time when they were doing much better than they are at this moment.

Unfortunately, decades of incredibly bad decisions really have brought us to the precipice of an economic catastrophe.

So let us hope that our leaders make much better decisions from this point forward.

And let us do what we can to support those that are working with the poor and hungry, because there are so many of our fellow Americans that are deeply suffering right now.

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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.