Experts are warning of a large financial crisis that is looming around the world, don’t expect congress to step in and bail everyone out this time.
Daily wire writes. The Fed’s manipulation of the money supply will cause America to experience a “whopper” recession in 2023, according to Johns Hopkins University economics professor Steve Hanke.
Hanke told CNBC in an interview that M2 — a measure of the money supply containing cash, checking deposits, savings, and other relatively liquid assets — soared in 2020 as a result of the central bank’s actions before plateauing this year.
BRIDGE. During the pandemic bailouts and stimulus checks were dispersed with little oversight, and massive business loans were handed out to help induce spending, now we are seeing the inflation caused by this.
CNN writes. People are already struggling to cover their normal expenses, and more lower-income people are falling behind on their credit card payments.
A recession is expected to hit by the end of next year, if it hasn’t already.
Don’t look to the federal government for help this time. If the economy continues to deteriorate, experts say Congress is unlikely to provide assistance to those in need. Politicians from both sides of the aisle have gone on record stating that they will not offer cash assistance if needed during a financial crisis.
The most recent US Census Bureau Household Pulse Survey, which took place in late July and early August, found that 40% of Americans had difficulty paying their usual household expenses. This is an increase from 31% at the beginning of the year.
Many people know that we are heading for dire times, yet the masses don’t care. People who are living blissfully, ignoring the warning signs for desperate times are going about their lives thinking the government will step in and save them again. The days of massive stimulus checks are behind us. The world is entering a food crisis, and inflation and a massive recession is around the corner. Be prepared.
