By Dr. Derek Ellerman
Everyone (except for the media and Democrats) knows the economy is in a precarious situation at best.
I won’t even get into the NewSpeak definition of “recession” our overlords are insisting on trying out.
While you’ll often see “macro” stats “proving” the economy is in great shape – think Biden claiming he created 300 bajillion jobs – everywhere you look, you can see that things aren’t getting better.
Everyone who has purchased anything knows about the record inflation. Make no mistake, runaway inflation is the worst possible economic calamity. Obviously, the cost of the goods you want to buy goes up – because each dollar you have is worth less than it was the day before.
You work just as hard, but take home less. It’s the ultimate ripoff.
But elsewhere, we find signs that things are not as hunky-dory as our overlords want us to believe.
Biden didn’t say a single word about the economy, gas prices, food/supply shortages, record high inflation, threat of nuclear war, illegal immigration surges, fentanyl epidemic, crime waves, child grooming…nothing.
What a failure of a speech from a failure of a would be leader.
— Brandon Straka (@BrandonStraka) November 2, 2022
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Adults Living In Dorms
A recent New York Times article drives home this point. If you’ve talked to Millennials, you’ll often find them furious about the cost of living, the share of wealth held by older generations compared to their generation, and other complaints.
Before you blast them as merely lazy loafers, (Yes, many of them are) consider what they are working with.
The aforementioned article chronicles a 27-year-old who now lives in what amounts to a dorm.
Not a starter house. Not a duplex. Not even an apartment. A dorm. Now of course, being in New York City, where rent is laughably high, you might expect less-than-stellar digs. But a dorm?
The kicker is that this isn’t limited to NYC. So-called “co-living arrangements” are spreading across the country, complete with hip “startups” and all.
But that’s just one example.
With housing costs soaring, “dorms for adults,” as co-living arrangements are often called, are gaining popularity across the U.S. https://t.co/dbmRmMJADQ
— The New York Times (@nytimes) November 2, 2022
Where Are All The Workers?
For all the talk about “creating jobs” we get from the White House, serious questions remain.
Just yesterday, The Center Square reported that there are two open jobs for every person unemployed:
Anyone who has been out and about since the beginning of the pandemic has seen the “help wanted” signs – particularly at food joints and smaller, independent shops. They can’t find the workers.
So where are all the workers? How are so many people surviving without work?
One guess might be this: In July, the Labor Department reported that there was at least $163 billion in unemployment fraud.
Such a figure is simply unfathomable.
Reporter: “Biden claimed that he created 10 million new jobs… Those jobs have mostly been added back… Only about 514,000 jobs have been newly created.”
Jean-Pierre: “You’re giving me data but there’s also data that shows unemployment is the lowest it’s been in 50 years.” pic.twitter.com/cuVfYUmnVK
— Greg Price (@greg_price11) October 24, 2022
The Overall Picture Stinks
Checking back up on inflation for a second – it’s hard to truly calculate, but working Americans have lost months of income due to inflation.
As of July, the average family had lost out on $6,800 thanks to inflation.
And Heaven help any poor soul brave enough to look at their retirement accounts.
Figures from October show that the average American has lost $34,000 so far. Maybe not the biggest deal in the world for younger people, but for anyone within a few years of retirement? For someone already retired? That could be a total disaster.
Much more could be said, and I could throw figures your way all day long, but the point is obvious. (Also, DO NOT look at recent mortgage rates!)
The economy is a shambles, and anyone who tells you different is, at the very least, being untruthful.
Now is the time to support and share the sources you trust.
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