This article discusses the troubling state of the U. S. economy, highlighting signs that suggest an impending economic collapse and a potential new Great Depression.
1. Consumer Confidence: There has been a significant decline in consumer confidence, with the index dropping to its lowest since mid-2024.
2. Sentiment Index: The University of Michigan’s consumer sentiment index has also fallen to its lowest level since late 2023.
3. Retail Sales: U. S. retail sales experienced their largest drop in nearly two years, signaling a slowdown in economic growth.
4. Corporate Earnings: Walmart forecasts its first profit drop in three years, indicating struggles within the retail sector.
5. Housing Market: Sales of previously-owned homes fell by 4. 9%, with high mortgage rates and limited listings impacting potential buyers.
6. Cost of Living: Nearly 70% of single adults find it difficult to afford rent or mortgage payments, indicating financial strain.
7. Job Layoffs: Major companies like Starbucks, Southwest Airlines, Blue Origin, Chevron, and Estée Lauder are laying off thousands of employees to cut costs and restructure.
8. Store Closures: Retail chains, such as Forever 21 and Joann Inc. , are closing numerous stores as they face financial hardship and bankruptcy.
9. Debt Levels: Household debt in the U. S. has surpassed $18 trillion, marking a record high.
10. National Debt: The U. S. national debt has surged by over $26 trillion since 2009, with massive interest payments threatening fiscal stability.
The article emphasizes the severe challenges facing the U. S. economy, predicting that significant pain lies ahead as economic realities catch up with previous practices of financial mismanagement. Readers are encouraged to consider these developments seriously.
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