by Michael Snyder
The Economic Collapse Blog
I warned that an economic collapse was coming, and an economic collapse is exactly what we got. 2020 was a “personal financial disaster” for 55 percent of all Americans, approximately 12 million U.S. renters are “at least $5,850 behind in rent and utilities payments”, the Aspen Institute is projecting that up to 40 million people could be facing eviction when the rent and mortgage moratoriums finally end, and more than 70 million new claims for unemployment benefits have been filed since the COVID pandemic began.
Nobody can point to a time since the Great Depression of the 1930s when the U.S. economy was in worse shape than it is right now.
Unfortunately, there are no indications that this nightmare is going to end. Last week, another 900,000 Americans filed new claims for unemployment benefits…