New data reveals a crash not seen since Great Depression could hit in 2024As the White House continues to tout the alleged achievements of the president’s "Bidenomics" agenda, a growing amount of data indicates that a gigantic economic crisis could be right around the corner.
Most disturbingly, one important economic indicator that’s currently flashing hasn’t appeared since the 1930s, during the height of the Great Depression.
If the White House and Congress do not cut inflation-causing government spending soon, the results could be catastrophic.
In 2020, during the height of the coronavirus government lockdowns,
President Donald Trump and the Democratic-led Congress spent vast amounts of money to keep the economy, financial system and stock market afloat. Trillions of dollars in additional government spending occurred, all of which was financed with debt and money printing.The never-before-seen levels of money creation were fueled by policies set by the Federal Reserve, which encouraged Congress to spend more money and kept interest rates extremely low, despite warnings from economists about the threat of future inflation.
.............But rather than return spending to normal levels, Biden and congressional Democrats — with the blessing of the Federal Reserve — opted to keep government expenditures significantly higher than they had been prior to the pandemic.
The decision to continue high levels of government spending, coupled with the Fed’s choice to keep interest rates low and the fallout from the crisis in Ukraine, caused inflation to soar to levels not experienced in four decades. Prices for nearly all consumer items, from eggs and milk to gasoline, skyrocketed.........................
https://www.foxbusiness.com/economy/new-data-reveals-crash-not-since-great-depression-could-hit-2024