The Bad Jobs Report Is Just A Very Small Taste Of The Economic Nightmare That Is ComingMichael Snyder, Contributor Many are calling this a total disaster and are worried that the U.S. economy could be headed back into another recession. Economists had been expecting 150,000 payroll jobs would be added, so the 69,000 number really shocked a lot of people. The truth is that the economy needs to add approximately 125,000 new jobs every single month just to keep the unemployment rate steady. So yes, this bad jobs report is not welcome news at all especially for the Obama administration. When Barack Obama first took office the unemployment rate was sitting at 7.6 percent and now it is sitting at 8.2 percent. Some recovery, eh? But the reality is that this jobs report was really not that devastating even though the stock market had its worst day of the year. Unemployment in America is still about at the same level as it was back at the beginning of 2012. The tough stretch that we are going through right now is only a very small taste of the economic nightmare that is on the horizon. If you think that things are a disaster right now, just wait until you see what is coming. At the moment, 53 percent of all Americans with a bachelors degree under the age of 25 are either unemployed or underemployed, and there are more than 100 million working age Americans that do not currently have jobs. But this is only just the beginning. During the next major economic downturn, the unemployment rate in the United States is going to soar well up into the double digits. Right now, there are only small pockets of the country that are total economic hellholes. For example, Yuma, Arizona has an unemployment rate of 26 percent, and El Centro, California has an unemployment rate of 26.2 percent. In the future, those kinds of numbers are going to become the norm all over the nation. Sadly, most Americans have no idea what is coming. Today, I wanted to share with you all a couple of chilling economic forecasts that I have been made aware of recently. The first is from Raoul Pal. According to Zero Hedge, Raoul Pal previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the Valencian coast of Spain, from where he writes. The following is from a Zero Hedge summary of a recent presentation by Raoul Pal. It continues: It only gets better. We use the term loosely: So how soon does Raoul Pal think all of this is going to happen?. You can find his entire presentation entitled The End Game right here. What Raoul Pal is saying lines up very well with what Steve Quayles anonymous international banking source is telling him. You can read the rest of what that source is saying right here. As I have been saying all along, there are two keys that you need to be watching right now. Sadly, the articles that I write about Europe tend to get far less of a response than my other articles get. Most Americans simply do not understand that what is happening in Europe right now is going to significantly affect their daily lives. And most Americans have very little understanding of derivatives. But as you just read, there are some in the financial community that are warning that we could see the derivatives bubble burst very soon. Time is running out. This period of relative stability that we are currently experiencing will not last forever. You better get ready. This article first appeared here at the Economic Collapse Blog. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. 