by Michael Snyder, End Of The American Dream:
In your opinion, does it feel like we are in the middle of a recession right now? If you feel that way, you are definitely not alone. In fact, as you will see below, most Americans believe that the U.S. is currently experiencing a recession. Large employers have been conducting mass layoffs from coast to coast, the cost of living crisis is absolutely crushing millions upon millions of working families, and the number of business bankruptcies has jumped by more than 40 percent in just one year. Considering all of the economic pain that we are witnessing all around us, it shouldn’t come as any surprise that 59 percent of Americans believe “that the U.S. is currently in a recession”…
TRUTH LIVES on at https://sgtreport.tv/
And yet, 59% of Americans falsely believe that the U.S. is currently in a recession, according to a recent survey of 2,000 adults by Affirm in June.
Citing higher costs and difficulty making ends meet, most respondents said they think a recession started roughly 15 months ago, in March 2023, and could last until July 2025, Affirm found.
CNBC would like for us to believe that it is “wrong” for Americans to be thinking this way.
Even though millions upon millions of Americans are deeply hurting, we are just supposed to pretend that everything is sunshine and lollipops.
They can try to gaslight us all they want, but even the Federal Reserve is admitting that most of the population is “running low on disposable cash”…
Middle- and lower-income Americans are running low on disposable cash and are on track to have less than they were on pace to have before the COVID pandemic disrupted the economy, a study by the Federal Reserve Bank of San Francisco found.
Retailers such as Home Depot are extremely dependent on discretionary spending.
Needless to say, discretionary spending is way down right now, and Home Depot is openly admitting that people are not spending as much on home improvement projects as they once did…
Home Depot says consumers are feeling crummy about the economy, and they’re dishing out less on major home renovation projects.
The home improvement giant, a bellwether of consumer spending and the housing market, lowered its sales expectations for the year. It said customers were spending less on home improvement projects, pressured by higher interest rates and concerns that the economy is getting worse.
Home Depot’s business is closely tied to the housing market, and high interest rates are putting a brake on housing turnover and consumers financing larger projects.
When the economy is booming, Home Depot is usually swimming in cash.
But when the economy is struggling, Home Depot really tends to struggle.
To me, this is one of the clearest indications yet of where the economy is heading.
Of course it isn’t just discretionary spending that is down.
At this point, many Americans can’t even afford the basics. In fact, one recent survey discovered that 39 percent of Americans have actually skipped meals just so that they can make their rent or mortgage payments…
Read More @ EndOfTheAmericanDream.com
