As we edge closer to what is shaping up to be the most tumultuous presidential election in U.S. history, alarm bells are ringing for the U.S. economy. CNN, a media outlet not known for its pessimistic economic outlook, is beginning to acknowledge that “the long-predicted storm clouds in the economy may actually be forming”. It’s rare to see such headlines from CNN, but it’s becoming increasingly challenging for mainstream media to ignore the reality. Inflation is worsening as key sectors of our economy decelerate. If you thought the past few years were tough on the economy, brace yourself for what’s coming next. A massive upheaval looms ahead and Americans are growing increasingly anxious about our escalating economic issues.
Inflation jumped in March as prices for consumer staples such as gasoline edged higher and those for housing remained stubbornly high, suggesting inflation may be a bit stickier than it seemed just a few months ago, economists said.
The consumer price index, a key inflation gauge, rose 3.5% in March from a year ago, the U.S. Labor Department reported Wednesday. That’s up from 3.2% in February.
Many TV pundits are spinning this as bad news for Joe Biden’s administration. However, if prices were only rising at an annual rate of 3.5%, that would actually be good news – if only it were true! Unfortunately, everyone knows that government calculations of inflation have been repeatedly modified over time rendering these numbers virtually meaningless now.
To get an accurate picture of how much prices are really rising, we need to look at specific categories. For instance, Fox Business reports that the cost of energy “is up 36.9% from where it was in Jan. 2021”. And it’s not just energy prices; housing has become exorbitantly expensive too.
Ken Brown is worried he is going to be forced out of his house if his home insurance premium continues to go up.
The 71-year-old retiree who lives near Rapid City, South Dakota, has seen his annual cover with American Family skyrocket almost 110 percent in the last year – from $1,665 to $3,490.
Let’s face it: we are in the midst of the worst inflation crisis in recent memory. The price of food is also skyrocketing. In California, a 40 piece order of Chicken McNuggets and two orders of large fries will now set you back over 25 dollars.
With all these economic issues escalating, it’s no surprise that Americans are becoming more vocal about their concerns regarding inflation. A TikTok user recently gained attention when he posted a rant saying “I cannot afford to live”, a sentiment that resonates with many Americans who are struggling in this economy.
Unfortunately, all signs point to things getting even worse. Small business optimism in the U.S. has dropped to an 11-year low, and stores like 99 Cents Only are moving towards liquidating all of their locations. This is the future of our economy under current leadership, and it’s not looking bright.
The U.S. economy is derailing, and as things get worse, the American people are becoming increasingly frustrated. It’s time for a change in leadership that can steer us back onto the right track.
Source: Conservative Firing Line