Hellish nightmares are coming true under Democrat Joe Biden, and it is not just the working class and middle class who are missing those peaceful nights under President Donald J. Trump; it is the big money guys on Wall Street who are in a panic. Now we all have a shared dread about what the looney left has done to our collective prosperity.
For the working class they see a lack of jobs and start to worry.
“Amid declining sales, Gap announced Tuesday that it’s cutting about 500 corporate jobs at its offices in San Francisco, New York, and Asia. It’s one of many companies, including Peloton, HBO Max, and Wayfair, to lay off employees in recent months,” Marketplace reported.
There’s a natural reason that layoffs grab our attention, said Betsey Stevenson, an economist at the University of Michigan.
“The stories always resonate with us because it’s scary,” she said. “It’s scary to be laid off. It’s scary to lose your job.”
News of a recession that might be coming is making it even worse for people. Looking at the loss of jobs is practical as well.
“That can be one of the ways in which we get access to this data fastest,” Stevenson said.
Most regular people are worried about lucrative jobs, paying their bills, and the cost of living for themselves and their families.
The feeling when you haven't been able to sleep and you find yourself thinking about whether the US economy will collapse before you even get close to paying off your debts
— Circumlocutrix (@Vivian_Yamamoto) September 21, 2022
Investors are worried about that and keeping the industries going that they are financially tied to, right? And that is turning hellish as well, according to recent news.
The situation is getting so bad that analysts are predicting a total collapse of the US economy is right around the corner for us, and it may be something that most Americans have not experienced. The reckless spending and insane policies of the Democrats and RINOS seem to be coming to a head, combined with Joe Biden’s obsession with the most radical Marxist economic policies, which everyone can see endangers the entire nation.
But it is not just a guess or a feeling or a ‘conspiracy theory’ to see what is about to hit us. Experts are finally speaking some truth about the matter, saying we are in a nightmare.
“Talk of a recession, rough inflation data, and the persistent increase in costs of certain staple goods has got Wall Street’s biggest investors living in fear of an economic nightmare,” Aaron Wineman reported.
Wineman went on to explain in Business Insider:
The nightmare is not simply the economy tipping into a recession. It is much worse than that.
Disappointing data from the BLS could see the economy get stuck. Inflation might come down slightly, but it remains high enough that the cost of important items like food and toiletries remain stubbornly high.
To make matters worse, higher interest rates will swell mortgage rates and credit card repayments. All of this while wage growth remains stagnant and companies tighten their own purse strings on growth.
Basically, the economy is stuck in a rut.”
Wineman is not alone. Newsweek covered more collaborating details that we are all right to be deeply concerned about what is unfolding:
The U.S. economy is on the verge of collapse, said a Wall Street veteran in an interview published by MarketWatch on Wednesday.
Financial veteran and crypto investor Michael Novogratz, interviewed by MarketWatch before the Federal Reserve decided to increase interest rates, said the country is heading into the likelihood of a “really fast recession.”
Novogratz is the founder and CEO of investment management firm Galaxy Digital and is a veteran of Wall Street who has worked, among many places, at Goldman Sachs for 11 years.
“The economy is going to collapse,” he told MarketWatch. “We are going to go into a really fast recession, and you can see that in lots of ways,” he added.
“Housing is starting to roll over,” he said. “Inventories have exploded. There are layoffs in multiple industries, and the Fed is stuck [with a position of having to] hike [interest rates] until inflation rolls over.”
Experts remain concerned about the impact higher interest rates will have, especially when combined with soaring gas, oil and food prices aggravated by the war in Ukraine and supply disruptions still persisting since the end of the pandemic.