While what is sure to be one of the most contentious presidential races in the history of our great nation draws ever nearer, we’re starting to see an increase in bad omens concerning the U.S. economy. I know, I know. We’ve been seeing these for a long, long time now. Every time you step foot in the grocery store you see the signs, right? Need to fill up your gas tank? Oof. Another bad sign. Well, I’m here to tell you that things are actually getting a bit worse than initially predicted.
You know things are getting bad when CNN begins saying “the long-predicted storm clouds in the economy may actually be forming.” I mean, since when are the folks running this particular left-wing propaganda maker interested in actually telling the truth? It’s stunning really. That’s a headline for an article by the way. When is the last time you saw a truthful article headline from the likes of CNN?
That should be enough in and of itself to convince you the end might be nigh.
We’re witnessing a massive increase in inflation, while at the same time seeing other key parts of the economy pumping the brakes. The last few years have most definitely been rough, but let me tell you, we haven’t seen anything yet. Turmoil and upheaval is headed our way and the problems Americans are currently facing are only going to get worse.
According to The Economic Collapse, last Wednesday, it was discovered that prices went up much more than expected during the month of March.
Inflation jumped in March as prices for consumer staples such as gasoline edged higher and those for housing remained stubbornly high, suggesting inflation may be a bit stickier than it seemed just a few months ago, economists said.
The consumer price index, a key inflation gauge, rose 3.5% in March from a year ago, the U.S. Labor Department reported Wednesday. That’s up from 3.2% in February.
The EC pointed out there are tons of talking heads on the evening news and other programs informing viewers that all of this is very, very bad for President Joe Biden. However, if prices were only going up by 3.5 percent annual rate, that’s actually good news. We wouldn’t need to be worried about inflation that much at the moment if that were indeed the case.
One part of the problem, of course, is that how inflation is calculated has been changed many times over the years and thus the numbers that are given out by the government pretty much mean nothing.
Want the truth about how much prices are going up? You need to examine specific categories.
Fox Business says that the current cost of energy “is up 36.9 percent from where it was in Jan. 2021:”
Tuesday’s inflation numbers punctuate what has been a dreadful three years for energy consumers. The overall cost of energy in March is up 36.9% from where it was in Jan. 2021, according to the Department of Labor’s Bureau of Labor Statistics.
And I hate to be the bearer of bad news, but energy prices are actually going to go up significantly in the near future. And then if things become explosive between Iran and Israel, whoo boy, we’re going to be hurting when it comes to gas and oil.
How about housing? The cost for a place to live has hit a level of pure insanity at this point. The average monthly mortgage payment on a newly bought house has doubled since Biden took over the presidency. Need any more reasons not to vote for him in November?
If all of this is happening, how is it the government can look us straight in the eye and tell us that inflation is only going up by single digits? Do they really think we’re that stupid? Apparently so.
The cost of home insurance has gotten so high that a 71-year-old retiree from South Dakota revealed that his payment skyrocketed by 110 percent over the course of a year. That’s mind-blowing.
Ken Brown is worried he is going to be forced out of his house if his home insurance premium continues to go up.
The 71-year-old retiree who lives near Rapid City, South Dakota, has seen his annual cover with American Family skyrocket almost 110 percent in the last year – from $1,665 to $3,490.
Ken is on a fixed retirement income, while his wife Valeria, 68, is still working to help cover the insurance bill – and a whole host of other rising costs.
And then there’s the cost of food, which is not a luxury item, but a necessity. Even at what used to be the most affordable fast food restaurant in the world, McDonald’s, a 40 piece Chicken McNugget and two large fries costs over $25 bucks.
A viral social media video about a $25 McDonald’s “deal” recently sparked an online debate about California’s minimum-wage increase.
A TikTok user who posts videos under the username @shannon_montipaya shared the video on March 27. She was in the drive-thru of a Southern California McDonald’s location when she saw a sign for a 40-piece Chicken McNugget meal deal, which also included two large orders of fries.
The price of the meal bundle was $25.39 — including sales tax, it would come to roughly $27. In the video, the social media user lamented that the meal didn’t even include a drink.
Inflation is getting so bad that a TikTok user’s video went viral, pulling in 5 million views, when he ranted about not being able to afford to live.
Last week, a TikTok user posted an angry rant about the cost of living that’s since been viewed 5 million times on the platform, with tens of thousands of comments and shares.
“I make over three times the federal minimum wage and I cannot afford to live,” he shouts into the camera. “It is embarrassing to come out and say that it is a struggle to survive right now but I know so many people are struggling.”
Later, he concludes: “The American Dream is dead.”
Times are tough for people from just about every walk of life, including those who have small businesses. Optimism for small businesses has hit its lowest level in over 11 years thanks to the leadership and economic policies of Joe Biden.
The failure of Bidenomics has crushed confidence among US small businesses to the lowest level in more than a decade, as the future path of inflation remains a significant concern. Readers must remember small businesses are vital to the economy, contributing 44% of the country’s economic activity and creating two-thirds of net new jobs.
The National Federation of Independent Business (NFIB) reported Tuesday that its small-business optimism index declined .9 points to 88.5, the lowest level since the second half of 2012 – or about when the US economy climbed out of the worst financial crisis ever.
Tons of stores are closing down, including locations for 99 Cent Only, which is completely going the way of the dinosaur. Because of economic woes, more and more Americans are now investing in fairly large amounts of gold:
Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer.
In fact, sales are so brisk that analysts at Wells Fargo expect revenue “may now be running at” $100 million to $200 million a month, a rapid acceleration since bullion hit the warehouse club late in the summer of 2023.
Americans are becoming more and more frustrated by our economic conditions and unless Trump is elected in November, I really don’t see how things will improve. We’re at a tipping point. Now is a good time to pray for our country.
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