Soft Landing Is A Lie: Record-high Pessimism As 66% Of Americans View Today’s Economy Worse Than 2008 Crash And 2020 Lockdowns Amid Persistent Inflation.

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Christmas spending increases due to inflation concerns; 24% cite inflation as the reason, while 37% cut expenses, blaming inflation, up from 15% last year.

The surge in homelessness, reaching a staggering 653,104 people, unveils a heartbreaking reality in the U.S. Declining assistance packages and a shocking +20% increase in shelter costs since the pandemic exacerbate this crisis, demanding urgent attention. As we approach the holiday season, the plight of those less fortunate tugs at our collective conscience, urging us to consider meaningful ways to make a positive impact.

The news of new homeowners facing a substantial $122,000 loss amidst dropping housing prices adds another layer of distress to the narrative. It’s a stark reminder of the economic challenges individuals and families are grappling with, especially during a time traditionally associated with warmth and joy.

The soaring 51.8% inflation rate in less than two years, impacting basic necessities like flour, strikes at the core of everyday struggles. The minimal growth in hourly wages, juxtaposed with these staggering figures, prompts deep reflection on the effectiveness of economic policies and the potential echoes of past mistakes.

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The statistics from the Atlanta Fed’s wage tracker, hovering over 5% y/y, and NFIB compensation plans forecasting an acceleration in 2024, paint a grim picture of ongoing challenges in achieving meaningful wage growth and economic stability. The numbers not only quantify the crisis but also underscore the urgency of addressing systemic issues that contribute to the plight of those most vulnerable in our society.

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