Brace For Impact! The U.S. Economy Is Going Down, And It Is Going Down Hard…
I have so many bad economic numbers to share with you that I don’t even know where to start. I had anticipated that the U.S. economic slowdown would accelerate during the fourth quarter of 2019, and that is precisely what has happened. The Federal Reserve is trying to do all that it can to keep us from officially slipping into a recession, and the federal government is literally spending money as if tomorrow will never come, but all of that intervention has not been enough to reverse our economic momentum. We are really starting to see conditions begin to deteriorate very rapidly now, and 2020 is already shaping up to be the most pivotal year for the U.S. economy since 2008.
Let me start my analysis by discussing how U.S. consumers are doing right now. According to CBS News, a major new study that was just released found that 70 percent of all Americans are struggling financially…
Many Americans remain in precarious financial shape even as the economy continues to grow, with 7 of 10 saying they struggling with at least one aspect of financial stability, such as paying bills or saving money.
The findings come from a survey of more than 5,400 Americans from the Financial Health Network, a nonprofit financial services consultancy. The project, which started a year ago, is aimed at assessing people’s financial health by asking about debt, savings, bills and wages, among other issues.
That sure doesn’t sound like a “booming economy”, does it?
And even though things are already really tough for millions upon millions of American families, it appears that things are rapidly getting worse. In fact, we just witnessed the largest decline for the Bloomberg Consumer Comfort Index since 2008…
Despite stocks soaring to record highs, The Bloomberg Consumer Comfort index fell last week to 58.0 from 59.1 a week earlier, and has now plunged 5.4 points in three weeks, the biggest such drop since 2008…
Yes, the employment situation in this country is still relatively stable for the moment, but the truth is that most of the “jobs” that have been “created” in recent years actually pay very little. If you can believe it, 58 million jobs in the United States currently pay less than $793 a week…
Comments
Post a Comment