Discretionary income is steadily shrinking under the weight of persistent inflation. We are a consumer driven economy so when the consumer gets squeezed its eventually going to retard economic growth.
(As an aside there’s an article on Zero Hedge about how the effects of sanctions related to the war in Ukraine are contributing to inflation here at home.)
We are a consumer driven economy so when the consumer gets squeezed its eventually going to retard economic growth.
With this pResident, retarded is what can be expected.
Yes I retired early from Education in 2018. Surprisingly even with reduced income my bank accounts and stocks rose steadily until the COVID/Biden twin disasters.
So from pensions I had steady but in no way generous income. I have flipped wrecked cars but that has been very minor profits once costs are calculated. Yet my saving accumulated steadily—or DID under Trump.
Not anymore, I still get the same income as 3 years ago. My accounts now have basically frozen and I’d say we spend even less. Inflation is like a family thief, you don’t even notice it but it quietly steals from you every time you let your guard down or look away for a second.
Stagflation!