In yet another sign of impending economic doom, new reports have revealed that almost half of all small businesses across the United States are now struggling to pay their rent. When something like that is happening in the country you call home, you can safely say there’s a major crisis unfolding and it’s only a matter of time — think months, not years, if even that — until the you-know-what hits the fan.
What makes this even more disturbing is it hasn’t even been that long since things were this bad, economically speaking. In fact, the last time things were as bad as they are today was four years ago during the height of the coronavirus pandemic. However, this time, we don’t have any excuses other than horrific policies being implemented by the Biden-Harris administration.
Prophecy News Watch is reporting:
In March 2021, 49 percent of small business owners in the United States could not make their rent payments, but that was because so many states had instituted lockdowns which were severely harming the economy. In September 2024, 48 percent of small business owners in the United States could not make their rent payments, but there is no excuse this time around…
Close to half of small business owners couldn’t pay their rent in September, marking a new three-year high. According to business networking platform Alignable’s September Revenue & Rent Report, 48% of small business renters could not make their rent payments. That was up from 41% in July and August. And it was the highest it has been since the Covid recovery era in March 2021, when 49% of small business owners were delinquent.We have a “lockdown economy” without the lockdowns.Does anyone out there want to try to put a positive spin on this?Because if you do, I would love to hear what you have to say.Fox Business interviewed one restaurant owner in California that has tried everything that she can think of to keep her restaurants going…A regenerative farmer and restaurateur who closed several of her California eateries is now facing the possibility of shutting down her remaining two locations. Mollie Engelhart, owner of Sage Regenerative Kitchen, said despite her continuous attempts to keep her restaurants afloat, they are “barely hanging on by a thread.”“It doesn’t feel like we can hold on because I’ve run out of assets to literally liquidate, to keep us above ground and above water,” Engelhart told FOX Business. Engelhart said she and her husband “leveraged everything” including their retirement and home, in hopes that things would turn around.
Primerica’s latest Financial Security Monitor report for the third quarter found 55% of middle-income households now rate their personal financial situation negatively, a 6-point jump from the previous survey. “For the first time in a year, a majority of middle-income households are feeling negative about their personal finances,” said Glenn Williams, CEO of Primerica. “In fact, this latest report represents the highest negative rating we’ve seen since we began fielding the survey exactly four years ago.”
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