Two of China's largest shipping companies just decided to stop sending their oil tankers through the Strait of Hormuz and the Bab el-Mandeb Strait. Meanwhile, diesel prices are heading into the stratosphere with no end in sight. Supplies of diesel fuel are going to get so tight during the months ahead. At the same time, bond yields are surging as the global debt crisis escalates. The U.S. national debt is about to hit 40 trillion dollars and the debt to GDP ratio in Japan is nearing 250 percent. We are caught in a global debt spiral that is out of control, and inflation has become a major issue all over the planet. Anyone that thinks that there is an easy answer to all of these problems is just being delusional.

Just within the past 48 hours, there have been some absolutely enormous developments. The following are 12 gigantic red flag warning signs for the economy…

#1 The crack spread for diesel fuel in the United States just surpassed the $100 mark for the first time ever. Our trucking industry runs on diesel, and so this is going to have enormous implications for all of us…

The U.S. diesel crack, a key measure of refining profitability, hit an ‌all-time high of $102.20 a barrel on Monday as global supply disruptions from the wars in Iran and Ukraine run into peak agricultural consumption season.

Measured as the premium of U.S. diesel futures over U.S. West Texas Intermediate crude oil futures , the U.S. diesel crack was trading at $99.82 a barrel, up ?2.4% from Friday, as of 11:56 a.m. ET. The crack has hit new intraday record highs in five of ?the last six sessions, reflecting growing concerns about fuel availability as fresh attacks on Middle Eastern refineries ?added to existing supply disruptions.