The US government paints a rosy picture of the economy. The reality is the opposite, and the future outlook is downright scary.
In addition to increasing credit card and mortgage delinquencies you presented in this article, there have been massive layoffs in the tech, entertainment, service and retail industries over the past year or more.
The US government paints a rosy picture of the economy. The reality is the opposite, and the future outlook is downright scary.
In addition to increasing credit card and mortgage delinquencies you presented in this article, there have been massive layoffs in the tech, entertainment, service and retail industries over the past year or more.
Inflation is still high. "Official" rates are a joke; they don't include food, energy and housing - the 3 most important things for living! Nor do they include high interest rates.
The Fed pours gasoline on the fire with their "policies."
Congress engages in psychotic spending, with no slowdown in sight. The US national debit is 4-5X the "official" amount of $33 trillion; it's actually $120-150 trillion and growing every year.
The dollar is on the verge of being displaced as the world reserve currency. I predict the dollar will no longer be the reserve currency within 2-3 years. This is already happening, the process already started a few years ago. More and more nations are walking away from the dollar as their trade currency. This displacement of the dollar bodes ill for the US economy over the next few years.
The banking system is in trouble. The 3 regional banks that had to be bailed out earlier this year are just the tip of the iceberg. Their insolvency was huge, and the impact downplayed so as not to cause a panic and runs on the entire banking system.
The US government paints a rosy picture of the economy. The reality is the opposite, and the future outlook is downright scary.
In addition to increasing credit card and mortgage delinquencies you presented in this article, there have been massive layoffs in the tech, entertainment, service and retail industries over the past year or more.
Inflation is still high. "Official" rates are a joke; they don't include food, energy and housing - the 3 most important things for living! Nor do they include high interest rates.
The Fed pours gasoline on the fire with their "policies."
Congress engages in psychotic spending, with no slowdown in sight. The US national debit is 4-5X the "official" amount of $33 trillion; it's actually $120-150 trillion and growing every year.
The dollar is on the verge of being displaced as the world reserve currency. I predict the dollar will no longer be the reserve currency within 2-3 years. This is already happening, the process already started a few years ago. More and more nations are walking away from the dollar as their trade currency. This displacement of the dollar bodes ill for the US economy over the next few years.
The banking system is in trouble. The 3 regional banks that had to be bailed out earlier this year are just the tip of the iceberg. Their insolvency was huge, and the impact downplayed so as not to cause a panic and runs on the entire banking system.
But not to worry! Bidenomics will save the day!