by M Dowling, Independent Sentinel:
There is worldwide concern over the stability of the US economy due to mounting debt, inflation, and the Federal Reserve’s ability to maintain stable monetary policy. It has eroded confidence in the US dollar, and has led several African and Middle Eastern nations to withdraw their gold reserves from the United States in recent months.
Nigeria, South Africa, Ghana, Senegal, Cameroon, Algeria, Egypt, and Saudi Arabia are some of the countries taking such actions, each representing a crucial region in Africa and the Middle East.
TRUTH LIVES on at https://sgtreport.tv/
Russia and China are moving into those continents.
You mean Bidenomics doesn’t work?
This is another signal that we will lose the dollar as the world currency. They see the US economy “deteriorating.”
Additionally, geopolitical tensions and trade relations uncertainties have further fueled apprehensions among foreign governments.
THE TRUMP TAX CUTS WILL EXPIRE
Mercedes Schlapp wrote on X that Biden plans not to renew the Trump tax cuts. “Biden to end the Trump tax cuts that would raise taxes on 91% of Americans: Married filers with two kids earning $85,000 a year would pay an additional $1,661 in taxes.”
“Republicans have begun warning that Mr. Biden plans to allow all of the tax cuts to expire, effectively raising taxes on businesses and families at a moment when inflation is pinching consumers,” reports the NY Times.
“Instead of allowing families hit by these high prices to keep more of their hard-earned money, President Biden wants the highest tax increase on families and small businesses in American history,” Representative Jason Smith, Republican of Missouri and the chairman of the House Ways and Means Committee told Ms. Yellen during a hearing on Tuesday.
Yellen falsely claimed this won’t hit the middle class.
Anything the administration can do to hurt the middle class, they will do.
At the same time, inflation is soaring, and the economy is not growing. The Reserve has run out of options other than letting inflation reduce the debt.
It’s official: Inflation is soaring while the economy grinds to a halt.
As Business Insider put it, “The US economy may be barreling towards stagflation, an outcome worse than recession.”
Last time they screwed up this bad we got years of double-digit unemployment *and*… pic.twitter.com/JrwfDi4qSL
— Peter St Onge, Ph.D. (@profstonge) April 30, 2024
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