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New Report Reveals Just How Bad It’s Getting

By Last Updated: October 10, 2023
Reading Time: 3 minutes

The Alarm Bells Are Ringing: Your Financial House is on Fire!

Listen up, folks! We’re not talking about a minor hiccup in the stock market or a temporary dip in Bitcoin. We’re talking about a seismic shift that’s shaking the very foundations of the American economy. The average Joe and Jane are getting squeezed, and this is not a drill.

The Inflation Mirage: When 3.5% is Really 6%

Inflation is the silent thief that robs you while you’re busy arguing about politics on Twitter. The government admits to a 3.5% inflation rate, but let’s get real. If Uncle Sam is admitting to 3.5%, the actual number is probably north of 6%. Remember, these are the same people who told you that “deficits don’t matter.”

Real Wages: The Disappearing Act

The government and mainstream media love to tout rising nominal wages. But what happens when you adjust for inflation? According to the Labor Department, real average hourly earnings fell by 2% over the last two years. That’s right, your paycheck might be getting bigger, but it’s buying you less and less.

The Strike Wave of 2023: A Symptom, Not a Cause

Strikes are popping up like wildfires, and there’s a reason for it. In 2023 alone, roughly 453,000 workers have gone on strike. Compare that to 224,000 in 2022 and 141,000 in 2021. Why? Because everyone’s purchasing power is plummeting. Strikes are contagious, and it’s not hard to see why. When one group of workers successfully fights for higher wages, others are likely to follow suit. But here’s the kicker: even if wages go up, if they don’t keep pace with inflation, we’re back to square one.

Living Paycheck to Paycheck: The New American Dream?

Here’s a statistic that will knock your socks off: 60% of Americans are living paycheck to paycheck. And it’s not just those earning less than $50,000 a year. A staggering 45% of those making over $100,000 are also living paycheck to paycheck. Remember those stimulus checks and PPP loans? They provided a temporary buffer, but now that buffer is gone. People are running out of savings, and they’re feeling the pinch.

The Government: The Puppet Master Behind the Chaos

Let’s cut to the chase. Who’s to blame for this mess? It’s not the workers demanding higher wages. It’s not even the businesses struggling to keep up. It’s the government and their ill-conceived policies. The government’s response to crises is always the same: “We have to do something!” But often, doing nothing is the best plan of attack. The government’s interventions have distorted the economy, leading to the inflationary spikes we’re seeing today. If you think this is bad, buckle up. With more government intervention on the horizon, we’re likely to see more spikes in inflation, more strikes, and more financial hardship for the average American.

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