The Wall Street Journal has an editorial that may, if that is possible, wake Americans up! Amazingly, the title is “THE US CONSUMER IS FREAKING OUT!”. Here is a brief summary of the major points that the WSJ editorial board makes about the coming catastrophic calamity known as the Demolitioncrat Biden economy:
- The US auto industry posted its worst sales year in over a decade.
- Existing home sales fell to their lowest level since 2014 as mortgages declined because the $32 Trillion national debt requires the Federal Reserve to increase interest rates to stem Bidenflation.
- Spending on services, including rent, haircuts, and the bulk of everyday bills was flat in December.
- Retail purchases have fallen noticeably in three of the past four months.
- The WSJ editorial concludes with a quote from Nationwide Chief Economist Katy Bostjancic: “ The last bastion of strength is the labor market, but I do not think it can withstand all the other forces.” Mass layoffs are beginning.
We want to thank Charles Bradley for this Op-Ed. If you have an Op-Ed or LTE
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In addition, Mark Spitznagel, a famous hedge fund manager, sees a financial “ Mega-Tinderbox Timebomb” on the horizon.
Finally, according to Steve Cortes, an esteemed economist and former Trump advisor, a tsunami of two million US households have had their electric or gas power shut off in 2022.
Welcome to the Wonder World of Demolitioncrats and Joeflation Biden!
