Due to the brutal inflation and interest rates caused by the utterly stupid Biden/Harris economic policy, 59 percent of Americans think that this country is in recession.
CNBC has been working hard to convince 59 percent of the public that they’re wrong.
CNBC writes that “the U.S. economic situation has been remarkably stable despite persistent inflation and high rates of interest.” According to a survey of 2,000 adults, 59% of Americans believe the U.S. economy is in recession.”
The report states that “most respondents cite higher costs and difficulties making ends meet as reasons for believing a recession began roughly 15 months ago” and “could last until July 2025.”
While it’s perfectly fine to say we’re not in recession, claiming the economy is still remarkably strong after the first quarter GDP only grew by 1.3 percent seems a bit ridiculous. The second quarter of 2024 is expected to grow by 2.8 percent, but this could be revised lower in September.
This 59 percent are in a personal economic recession. What is the point of a GDP of 2.8 percent when the price of gas is close to $3.50 per gallon, and inflation has increased the cost of groceries by over 25 percent?
Housing costs have also reached a record high.
Housing, energy, and food are the three biggies. This is the daily pain of a working person. This pain is real. It’s demoralizing to shop for groceries. Gassing up your car is depressing. How can the GDP or stock market ease that pain? It doesn’t.
Shockingly, the media ignores the feelings of nearly 60% of the population with all the happy talk about the economic situation. Don’t you get it? You all, it’s a “vibecession”:
Joyce Chang, JPMorgan’s global research chair, stated at the CNBC Financial Advisor Summit, in May, that we are in a “vibecession”.
Chang explained that in the past few years, wealth was created primarily by homeowners and those with higher incomes. “But you have probably about one-third that has been left out — that’s the reason there is such a disconnect.”
One-third? CNBC’s poll shows 59 percent.
The wages cannot keep pace with inflation.
Credit card debt is at an all-time high.
This is the worst economic situation I have ever experienced.
Don’t forget about the economic impact of Joe Biden and Kamala Harris opening our southern border. Legal citizens and immigrants compete with millions and millions of illegals for housing and employment. This increases housing. This drives wages down. This also drives up the price of all things — food, energy, etc. The more people that want something, then the more expensive it becomes.
We should not be competing with 22 million other people. This is illegal and immoral.
