Is the economy crashing? (OPINION)
November 2, 2023
Is the economy of the United States crashing? I don't know how it is for others, but I know for our family, the walls are closing in. We are gearing up for a very difficult winter.
Here's a recent summary of the state of the American economy in November 2023:
(1.) 30-year fixed mortgage rates have skyrocketed from 3 percent in October 2021 to 8 percent today. This adds nearly $1,000 to a monthly house payment for a current median-priced home.
(2.) For the first time in history, credit card debt has reached $1 trillion, 3 billion.
(3.) Food costs are at an all-time high.
(4.) Inflation has accelerated for back-to-back months, which the so-called "experts" did not predict this past summer.
(5.) Illegal immigrant crossings across the U.S.'s southern border has hit an all-time high.
(6.) American citizens of all ages are in more debt than ever; according to the Federal Reserve Bank of New York, 30-year olds have seen the biggest increase in personal debt in many years.
That's a short list of what we see across the U.S. right now. The video attached to this column explains more on what's going on in America. It begins with video clips recorded at a farm in rural Northfield, Minnesota, where Joe Biden visited on Wednesday, November 1.