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(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”…
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…
39% of Americans say they’ve skipped meals to make housing payments, per Clever Real Estate survey.
And among millennials, that figure rose to 44%. Among Baby Boomers, it was 20%.
Wow.
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I had not seen that number before. That is just stunning.
In a desperate attempt to make ends meet, millions upon millions of us are racking up enormous credit card balances, and lots of people are now falling behind…
A growing number of borrowers are falling behind on their monthly credit card payments. Over the last year, roughly 9.1% of credit card balances transitioned into delinquency, the New York Fed reported for the second quarter of 2024. And more middle-income households anticipate struggling with debt payments in the coming months.
In particular, credit card accounts that were opened in 2021, 2022 and 2023 have particularly high rates of delinquency…
Overall delinquencies increased rapidly over the last few years because the credit cards originated in 2021, 2022, and 2023 have gone delinquent much more rapidly than credit cards originated in other years. About 8 percent of credit cards originated in 2016 became delinquent about four years after origination. Meanwhile, the 2021 vintage reached an 8 percent delinquency rate just after 2 years while the 2022 vintage reached 8 percent after less than two years and 2023 has followed 2022 closely so far.
Sadly, a lot more economic pain is on the way, because I am entirely convinced that the cost of living will continue to rise faster than paychecks do.
One recent survey found that the high cost of living is one of the biggest reasons why so many of us consider living in large cities such as Washington D.C., New York, Los Angeles and San Francisco to be undesirable…
The company found that the the nation’s capital, for the second year running, is the one Americans feel the largest distaste for.
According to the findings, 33 percent of respondents said it is one of the top five worst cities in the country, up from 20 percent last year.
65 percent of people said that a high cost of living makes a place undesirable, with New York, Los Angeles and San Francisco also ranking on the list of unfavorable places.
But it isn’t just our large cities that are being absolutely hammered by the current economic climate.
In some areas of the country, it literally looks like the next “Great Depression” has already hit.
For decades, the U.S. experienced an extended period of time when the standard of living was extraordinarily high.
But that was never enough.
We always had to have more, and so we piled up the largest mountain of government debt in the history of the world, the largest mountain of corporate debt in the history of the world, and the largest mountain of consumer debt in the history of the world.
Now those bubbles have started to burst, and as a result our entire system is at risk.
Economic conditions are not great now, but the truth is that what we are experiencing at this moment will be considered rip-roaring prosperity compared to what is eventually coming.
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Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Rep. Matt Gaetz: There Are Five Known Trump Assassination Teams in America
by The Gateway Pundit
President Trump’s life may be in greater danger than anyone, including himself, realizes according to a Florida congressman. As The Gateway Pundit reported, a second attempt was made on Trump’s life on Sunday, just two months after he came within a centimeter of being killed in Butler, Pennsylvania by a…
Is There a Mole Within the Secret Service?
by Townhall
There have been two attempted assassinations of former President Donald Trump, and both times, the suspects have known information only insiders would know about security. How could that be? Since Sunday’s attempted assassination of Trump, making it the second one in two months, several questions have still gone unanswered, such…
Diddy Reportedly Paid Off Home Mortgage Before Being Arrested
by The Dupree Report
New revelations emerged regarding Sean “Diddy” Combs’ opulent Miami estate during his recent bond hearing. In a dramatic turn of events in March, federal agents descended on the hip-hop titan’s luxurious abode on Star Island, uncovering what they allege were preparations for illicit gatherings known as “Freak Offs.” These events…
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Mike DeWine’s History Raises Concerns About Potential Conflict of Interest With Haitian Migrants
by Daily Caller
Republican Ohio Gov. Mike DeWine has faced a series of conflicts of interests on key issues in his state, including with the ongoing Haitian migrant crisis affecting Springfield. DeWine recently pledged support to Springfield to assist with the influx in Haitian migrants, according to Spectrum News. Over a period of…
The Coincidences Continue: New Details About Would-be Assassin Ryan Routh’s Wife
by American Greatness
As details continue to emerge about the man accused of attempting to shoot former president Donald Trump, one of the more curious developments involves Ryan Routh’s wife Kathleen Shaffer and her work. During questioning yesterday by Representative Matt Gaetz (R-FL), Homeland Security Investigations Executive Associate Director Chief Katrina W. Berger…
We Can Stop the Democrats From Rigging & Stealing This Election. Now. Today. Here’s How.
by Wayne Allyn Root
I have the solution to what’s coming on November 5th. But President Trump needs to act fast. He must make this high-profile, controversial, headline-grabbing, announcement TODAY! Trump is winning an electoral landslide. We all know that. In every credible and historically accurate poll, Trump is leading in the popular vote…
Congressional Probe Into Democrat Fundraising Platform, ActBlue, Finds Potential “Criminal Activity”
by Darlene McCormick Sanchez, The Epoch Times
(The Epoch Times)—A congressional investigation analyzing more than 200 million political contributions found potential “criminal activity” and referred the information to five state attorneys general for further review. The review involved donation reports from ActBlue, an online Democratic fundraising platform, to the Federal Election Commission, according to Rep. Bryan Steil…
Man Screaming ‘Allahu Akbar’ Stabs One to Death, Gravely Injures Another in the Netherlands
by Human Events
Witnesses said that the suspect began attacking people at random while shouting the Arab phrase meaning “God is great,” commonly used by Muslims. One person is dead and another is gravely wounded after a man screaming ‘Allahu Akbar’ and carrying two knives went on a stabbing spree late Thursday in…
Jeremiah 18:8, “If that Nation Against Which I Have Spoken Turns from Its Evil, I will Relent of the Disaster that I Planned to Bring on It”
by The Gateway Pundit
As the US Congress is debating the Continuing Resolution (CR) that authorizes the national budget, most are concerned about the government shut-down that will occur if the CR is not passed. “Woe!” is being sounded by various Congressional members announcing the calamitous ruin that will fall upon our nation if…
One GOP Lawmaker Says It Doesn’t Feel ‘Safe’ to Work in Politics
by Townhall
Republican Florida Rep. Anna Paulina Luna said in an interview this week that it does not feel safe to work in politics and that she’s been the target of threats. Luna made the remarks in an interview with Chris Cuomo on NewsNation. “The rhetoric that continues to be pushed…when you…
Bill Gates Launches New Netflix Series That Lays Out Mass Suicide Plan for Global Human Depopulation
by Ethan Huff, Natural News
(Natural News)—Scheduled for a Netflix launch on September 18 is a new docu-series from billionaire eugenicist Bill Gates that pushes the notion that “we have to give up hydrocarbons almost entirely,” among other anti-human ideas. Because the climate is currently not to the liking of Gates and his acolytes, major changes…