This is raw and real, it's the middle class that's getting hit hard.
This lady makes $34/hr and can't even survive in Canada … 🚨🚨🚨
— Wall Street Silver (@WallStreetSilv) August 15, 2023
The cost of living crisis is astronomical everywhere. It feels like we're just working to barely survive 🚨🚨🚨
Compilation of videos with people talking about the struggle going on.
This is a must watch video. 😳
— Wall Street Silver (@WallStreetSilv) August 15, 2023
The Cost of Inflation: U.S. Households Shell Out an Additional $709 Monthly More Than 2 Years Ago
Persistently high inflation has led the typical American household to spend $709 more monthly than two years ago, as reported by Moody’s Analytics chief economist Mark Zandi. Despite a decline from its 9.1% peak in 2022, the Consumer Price Index (CPI) remains elevated at 3.2% in July. The Biden administration’s “Inflation Reduction Act” faces criticism, with core inflation standing high at 4.7%. Many Americans grapple with financial insecurity, reduced savings, limited healthcare access, and increasing credit card debt and delinquency rates.
Economy to Stagnate for a Year Before Inflation Returns in 2024: Black Rock
BlackRock experts predict prolonged economic stagnation for the U.S., marking it as “the weakest such period in the postwar era outside the Global Financial Crisis.” Despite prior recession warnings, the real concern is now a labor shortage due to demographic shifts and early retirements, which could reignite inflation. The U.S. workforce is 4 million workers short compared to pre-COVID growth rates. This “full-employment stagnation” will negatively impact company profits and likely curb business investment. BlackRock emphasizes that this is not just a cyclical downturn but a significant structural shift that the Federal Reserve must address.