Michael Snyder, A Lot More Rioting, Looting and Civil Unrest as the U.S. Economy Continues to Crumble

Michael Snyder

What we have been witnessing on the streets of Minneapolis is just the beginning.  Our nation is so deeply divided, and a large portion of the population is losing faith in the basic institutions that govern our society.  Personally, I don’t know how anyone can watch the video of what happened to George Floyd without having an emotional reaction.  Police brutality has been a massive problem in the United States for many years, and it has gotten to the point where most of the country no longer has faith in the police.  Of course the rioters are not helping their cause by burning down the communities that they are supposedly defending.  And after causing so much chaos on Wednesday night, protesters were back in the streets of Minneapolis on Thursday

Protests and, in some cases, violence, continued Thursday in the aftermath of the death of George Floyd, a black man who died in police custody after a white officer pinned him to the ground under his knee.

Hundreds of protesters flooded Minneapolis streets Thursday evening for a march through downtown. Traffic was halted as a crowd of people stretched for up to four blocks. Protesters shouted “I can’t breathe” and “no justice, no peace; prosecute the police” as volunteer marshals in highlighter-colored vests directed traffic.

Sadly, this is just a small preview of what is coming to major cities all over America.

If you think that these riots about police brutality are intense, just wait until the economic riots start.

We are moving into a time when millions upon millions of Americans will become increasingly desperate as we plunge even deeper into a new economic depression.  On Thursday, we learned that another 2.1 million Americans filed initial claims for unemployment benefits last week…

First-time claims for unemployment benefits totaled 2.1 million last week, the lowest total since the coronavirus crisis began though indicative that a historically high number of Americans remain separated from their jobs.

Economists surveyed by Dow Jones had been looking for 2.05 million. The total represented a decrease of 323,000 from the previous week’s upwardly revised 2.438 million.

This was the 10th week in a row when the number of new claims for unemployment benefits has been above 2 million.

Real Deal Reports (27 May 2020) with Dean Ryan in LA and Mike Bara in Seattle.

As I keep reminding my readers, prior to this year the highest that number had ever been for a single week was 695,000 in 1982.
So even after so many catastrophic weeks in a row, we are still at a level that is approximately three times higher than that old record.

Overall, 40.8 million Americans have filed new claims for unemployment benefits over the past 10 weeks.  That is the greatest spike in unemployment in all of U.S. history by a very wide margin, and it means that more than one-fourth of all the jobs in the United States have already been wiped out.

But for now, the impact of those job losses has been cushioned by the extremely generous $600 a week unemployment bonuses that the federal government has been handing out, but those benefits are set to expire at the end of July

If those benefits are not extended we will see a massive national temper tantrum, and right now President Trump and Republican leaders in the Senate do not plan to extend them.

We shall see what happens, but we may soon have tens of millions of very angry unemployed Americans that are unable to pay their bills anymore.

And with each passing day, more bad economic news just keeps rolling in.  We just learned that orders for durable goods were down 19.4 percent on a year over year basis last month, and we also just learned that pending home sales were down 34.6 percent in April compared to the same month a year ago.

As I discussed yesterday, we are watching a full-blown economic collapse begin to unfold, and the fact that many U.S. states are starting to “reopen for business” is not going to stop the momentum that has now been created.

Real Deal Reports (28 May 2020) with Dean Ryan in LA and Mike Bara ink Seattle.

During the first few weeks of the pandemic, there was just a trickle of major bankruptcies, but now that trickle has become a flood

In the first few weeks of the pandemic, it was just a trickle: companies like Alaskan airline Ravn Air pushed into bankruptcy as travel came to a halt and markets collapsed. But the financial distress wrought by the shutdowns only deepened, producing what is now a wave of insolvencies washing through America’s corporations.

In May alone, some 27 companies reporting at least $50 million in liabilities sought court protection from creditors — the highest number since the Great Recession. They range from well-known U.S. mainstays such as J.C. Penney Co. and J. Crew Group Inc. to air carriers Latam Airlines Group SA and Avianca Holdings, their business decimated as travelers stayed put.

And we are watching store closings occur at a rate that we have never seen before in our entire history.

At this point, Coresight Research is projecting that about 25,000 stores will permanently close by the end of this calendar year

Coresight Research, which tracks retail openings and closings, has upped its projected store closures for 2020 from 8,000 at the beginning of the year to 15,000 at the beginning of March to about 25,000 now.

“That’s unlike anything the industry has ever seen,” Coresight CEO and founder Deborah Weinswig said. “It’s the speed with which it’s all happening which has been a little surprising.”

So much anger was building up all over America during the “good years”, and now this new economic depression is going to make things much, much worse.

When there are no jobs available and people can’t even provide the basics for their families, we are going to see frustration on a scale that is unlike anything we have ever witnessed before.

So please take careful note of what is happening in the streets of Minneapolis right now, because that is what the future is going to look like in all of our major cities.

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18 thoughts on “Michael Snyder, A Lot More Rioting, Looting and Civil Unrest as the U.S. Economy Continues to Crumble”

  1. There was a time ‘The Nation’ could be trusted…now it’s a leftist rag!

    `https://www.thenation.com/article/activism/antifa-trump-fbi/

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  2. Snyder, you really sound like a shill, validating the Mainstream Media narrative and painting a very gloomy picture for our future. Actually, the George Floyd case has all the earmarks of a psyop, with massive mainstream media publicity, duper’s delight and strange behavior of “witnesses,” and strange weirdly photoed evidence and conflicting statements and scenarios of the so-called “event.” And the riots seemed staged too, at least to start with. The fact that the mainstream media has delighted in covering this from the get-go leads one to suspect it’s purpose is to distract from the covid19 scamdemic and foment racial turmoil as a further distraction, just as suggested by the excellent article that follows your worthless tripe about this event. Your article is very suspicious. i think George Fetzer should look into your work and your history and consider banning your worthless projections from this site.

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      1. But, I do agree that Snyder, as good a writer as he may be, is quite well known on Zero Hedge for his preponderance of fear mongering articles. It’s his modus operandi…..and most readers have much disdain for him.

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  3. Thanks Dave K, Will, Stone, etc. Looks we have all been had again. Trump should call his friend Netanyahu and ask him to send the Israeli Police to take charge over here as if they have not already. Did anyone really think the master con artists who did 9/11/01 were ever very far away? Why not send Patriots like Bush, Cheney and the Four Stars too! Americans are the biggest fools on planet Earth. They watched too many Saturday Hollywood Westerns with zero Horse M where the horses stand.

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  4. The “Tower of Babel” aka the USA, has been an interesting experiment. And quite a good one until it was hijacked by the bankers in 1913 who made it into the trash heap it has become— as an insurance policy to make sure the sheeple would not have the means or the will to break free of the parasites (Jew bankers).

    And they will let it burn to the ground before they let go of their death grip.

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  5. I have already seen a doubter video about the Police murder. I don’t see it but as always I am willing to consider the alternative version of events. Could the murder have been staged to create the reaction I fully expected? Who in the wide world of sports would so soil their reputations by being a willing participant? But then you would have to ask the same question about all the other similar scams. Did you all hear from a bar owner that said both the cop and victim worked security? What are the chances? If that’s true, how did the two men not know each other? The there’s the strange angle of the video. You can’t see what going on with the other 90% of the victim’s body. Does anyone have a different angle that shows the other side of the police car?

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      1. Still cannot find it dK, but here’s Stone’s take that may help

        There is a LOT wrong with the “murder video” that proves these guys really did act this out and there was no killing
        1. You can tell when the ambulance arrives and the officer gets off the victim there was no pressure being applied.

        2. When the ambulance arrives, rather than tend the victim, (the official reports state the ambulance was warned he needed medical attention and was unresponsive,) they did not tend to him immediately on the ground, instead they loaded him onto the gurney without checking a damn thing, pushed him into the ambulance and drove off. There’s a HUGE problem with that.

        Standard EMT procedure in this case is FIRST to take his pulse and administer CPR if needed RIGHT WHERE HE IS FOUND LAYING especially when (according to the story line) they were notified he was “unresponsive” and needed an ambulance. EMT’s do not load people onto the stretcher first, they first get the person stable if possible and then load them. No one at any point, no officer and no EMT ever checked the guy’s pulse. That there alone proves it was a crisis act, done by people who were not professionals knowledgeable enough to even fake it good.

        3. Since no one checked the guy’s pulse, how did the cops know he was not going to wake up in the ambulance and raise hell? I can’t begin to describe what a screw up that was, and to top it all off, in ALL CASES, conscious or not, the cops pick people up up and throw them in the back seat. They would not have called an ambulance at all, having never checked his pulse. He’d have been loaded like a side of beef and taken to the station.

        4. The appalling “I am so proud” show by the “officer” at the end was obviously done for the sole purpose of angering the public.

        So here we have a story where the neighbors never knew he was a cop, where the victim was never checked at all, just loaded onto a stretcher, when he could have woken up and caused a problem. The police will NEVER DO THAT, THEY WILL NEVER DO THAT EVER, FAKE COPS, FAKE EMT’S FAKE STORY.

        5. AND THE PUNCH LINE: THEY WERE BOUNCERS AT THE SAME CLUB AND CLEARLY KNEW EACH OTHER. “HEY GEORGE: DO YOU WANT TO DO A HIGH PAYING GIG?” “SURE DEREK, I’M A LITTLE LOW ON CASH SINCE CORONA CLOSED THE CLUB, I’M GAME!

        This story is another box of fruit loops, and now some in Minnesota’s government are calling to declare “racism” a public health emergency like COVID. TOO OBVIOUS.

        WHERE WERE ALL THE OTHER COP CARS? IN REAL SCENARIOS THEY MOB A SCENE LIKE THIS, FAKE FAKE FAKE FAKE FAKE!

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