Everyone can see the horrible economy we are living in and many are fearing what’s coming next.
Well one big sign is pointing towards the economic storm on the horizon we are heading into.
And economists are terrified after this frightening new low the Biden economy turned in for December.
It’s hard to deny just how bad things are getting for the average American.
Go to the grocery store and you’ll notice that the shelves are so bare that it would even make Stalin blush.
Traders Joes in Arlington, VA
— Jack Posobiec 🇺🇸 (@JackPosobiec) January 9, 2022
If you can find groceries you actually want, the prices are through the roof.
In fact, consumer prices have jumped so high that we haven’t seen anything like this in the past 40 years!
Consumer prices ⬆️ SOARING ⬆️ 7% in the last year. Inflation hotter than it’s been in nearly 40 years. Biggest jump since June 1982. This is a hardship for millions of Americans, not an inconvenience.
— Dagen McDowell (@dagenmcdowell) January 12, 2022
And that’s if you can even fill up your tank to get to the grocery store —literally a 50% increase over one year.
Unleaded gas prices are up 50.8% from last year, bacon prices are up nearly 19% and renting a car will cost you 36% more on average than it did in December 2020. pic.twitter.com/DLDP7zPQJH
— The Associated Press (@AP) January 12, 2022
And don’t even mention the spree of thefts and crimes in the inner city and suburbs.
San Francisco has decriminalised petty theft. Cops can't stop or prosecute anyone who steals anything worth less than $900. So people have been picking things up at stores and walking (or cycling) out. First world. pic.twitter.com/nPJtGVPCKY
— Ajit Datta (@ajitdatta) June 15, 2021
But with everything going on in our nation, one thing is making economists the most fearful for the future.
United States retail sales tumbled down a staggering -1.9 percent in December compared to the expected -.1 percent decrease predicted.
*U.S. RETAIL SALES TUMBLE -1.9% IN DECEMBER; EST. -0.1%
*U.S. CORE RETAIL SALES PLUNGE -2.3% IN DECEMBER; EST. +0.2%
— Investing.com (@Investingcom) January 14, 2022
That is dismal.
The fourth quarter GDP and other economic indicators haven’t come out yet for the United States.
Retail sales much weaker in December, -1.9% vs. -0.1% est. & +0.2% in November (rev down from +0.3%); ex-autos -2.3% vs. +0.1% est. & +0.1% in prior month (rev down from +0.3%) … big disappointment for control group, -3.1% vs. 0% est. & -0.5% in prior month (rev down from -0.1%) pic.twitter.com/LUKHfNhEzI
— Liz Ann Sonders (@LizAnnSonders) January 14, 2022
A -1.9 percent decrease in retail sales during the primetime of the Christmas season isn’t an indicator of great economic growth on the horizon.
Can anyone say first quarter recession or depression?
What do you think?