#3. c. Red

Mark Couhig on Oct 7, 2024

David Treppendahl You do not have a “pretty good economy” when you are borrowing $3 trillion a year to pay the bills. That isn’t just an opinion; it’s axiomatic.

Moreover, this year small business bankruptcies are up 61 percent. Large company bankruptcies are at their highest level since 2008. Individual bankruptcies are up 15 percent. The savings rate by individuals just hit a record low while credit card debt hit a new high ($1.14 trillion). Credit card interest rates are now 24.92 percent. Inflation-adjusted real median household income has dropped since 2019.

Vehicle repossessions are up 23 percent from last year. Newsweek says a recent survey showed 4 of 10 American companies are planning for layoffs within the next 12 months, with most saying they are doing so in anticipation of a recession.

Since 2020 the Federal Reserve has dumped $7 trillion in brand new dollars into the economy, or about one dollar in three, thus watering down the value of every dollar you own (i.e., inflation).

I don’t doubt this is all news to you. If you watch the TV news or read The New York Times, you are being fed Democratic Party-produced bullshit.

If you need more proof the economy is bad, ask your fellow shoppers at the grocery store how they’re doing in this “pretty good economy.”