According to a shocking survey, the typical American household spent $709 more in July than they did just two years ago to buy the same goods and services. This figure, coming from Moody’s Analytics, is a painful reminder of the financial struggle that families are enduring across our country. But it’s not about mere numbers; it’s about shattered dreams, broken budgets, and the grim reality that the cost of living is spiraling out of control under the current administration. The inflationary nightmare we’re witnessing is a manufactured disaster severely affecting millions of Americans’ survival and everyday life.
The catastrophic reality playing out across the American economy is not an accident. It’s a direct result of the COVID-era nightmare and reckless decision-making of the Biden administration. Couple with that with the latest push to use climate change as the next excuse for lockdowns and economic killing policies, and you have a disaster that is only getting started.
“High inflation of the past 2+ years has done lots of economic damage,” Mark Zandi, chief economist at Moody’s Analytics, wrote in a post on X. Most of that increase in spending is driven by housing costs, which have surged, Zandi told CNN in an email on Friday.
Mark Zandi’s warning about the “economic damage” inflicted by rampant inflation over the past two years isn’t just another “expert opinion.” It’s the sad reality that is being ignored by those in power. The economy is worse off than it was five years ago. In fact, according to a brand new Reuters/Ipsos survey that was just released, 73 percent of all Americans believe that the economy is in worse condition than it was five years ago.
Back in March, after the FDIC takeover of Silicon Valley Bank and Signature Bank, 186 banks were identified as having a similar risk profile that makes them vulnerable to collapse. What the media didn’t tell the public was the The Banking Collapse Of 2023 was LARGER Than The Banking Collapse Of 2008!
At that same time it was revealed that total consumer debt has soared to a staggering new high, surpassing $31 trillion, and homeless encampments were starting to overwhelm a number of cities throughout the United States.
Homelessness has been a persistent problem in the U.S. for decades, but it has reached a new level since the end of the COVID lockdowns as our country plunges forward into the economic abyss.
But the media says Bidennomics is working!
Well let’s talk about the deceitful inflation numbers. A 3.2 percent annual rate? Who are they trying to fool? We know, and they know, that the real numbers would show inflation well into the double digits if calculated the way it was in 1980.
The American people are suffering. Forty-six percent of our population couldn’t even cover an unexpected $400 bill. Credit card debt has hit the $1 trillion mark. People are draining their retirement accounts to make ends meet. This is not just a troubled economy; it’s an economy in collapse.
The U.S. Government Right Now by the Numbers:
- Borrowing Spree Unleashed: $5.2 billion borrowed every single DAY for the next 10 years!
- Interest Payments Skyrocketing: On track to pay an eye-watering $1 trillion in just one year!
- Tax Revenue Tumbles: A worrying drop of roughly 8% over the last 12 alarming months.
- Debt Balance Explodes: A staggering addition of $8 trillion in just 3 short years.
- Debt Ceiling “Crisis” Fallout: $1.5 trillion added to the debt balance since the crisis, and it’s not slowing down.
- Spending Out of Control: 40% more expenditure in 2023 compared to 2019, and where’s the accountability?
- Default Danger Averted, for Now: Nearly defaulted before finally uncapping the debt limit until 2025 – but at what cost?
- Future Debt Catastrophe Looms: Debt-to-GDP ratio expected to rise to an unthinkable 225% by 2050 – a time bomb in the making!
The current economic meltdown is more than a warning sign. It’s an alarm bell ringing loudly, and it’s time to wake up and act. The Biden administration’s inaction and the do-nothing Republican morons who enable him seem hellbent on allowing our economy to crash into the ground.
In many ways it is already here. For many families they are already living the nightmare. This economic crisis is not to be taken lightly, it is one of the biggest threats we face. Don’t wait for the mainstream media to tell you how bad it is, take action now to protect yourself and your loved ones. It’s time to prepare for the worst and hope for the best.
We advise reading our article on Preparing for an Economic Collapse. We talk about the history of economic collapses, list the steps you need to take, and talk about what will most likely happen when the banking system goes down. You can read the article here.
Be Prepared to Feed Yourself when the Collapse Hits!
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