Economic experts have predicted a dire forecast for the year 2024. They foresee an economic depression that is reminiscent of the Great Depression of the 1930s. The culprit? The economic policies of the current administration, aptly coined as “Bidenomics”.
According to these experts, the inflation rates have skyrocketed to over 9% under Biden’s watch, with mortgage rates soaring above the 7% mark. As a result, American families are losing their buying power, with thousands of dollars wiped out from their pockets.
But the real shocker? A new economic indicator has emerged, one that hasn’t been seen since the Great Depression era. This foreboding sign spells disaster for Biden and his supporters. It seems the chickens have come home to roost for the disastrous economic policies of the current administration.
The groundwork for this economic catastrophe was laid towards the end of President Donald Trump’s term. Congress passed several bills aimed at subsidizing parts of the economy, and The Federal Reserve kept interest rates low, leading to unprecedented levels of money creation.
However, when Biden took office, he failed to implement any significant policy changes. Instead, he allowed inflationary spending to continue unchecked. The consequences have been disastrous: energy costs have soared, food prices have spiked, and millions of Americans can no longer afford basic necessities like homes.
Despite attempts by The Federal Reserve to slow down inflation by slightly raising interest rates, government spending remains unsustainable. Many Americans are left without enough savings or cash on hand for even basic needs like food.
A recent survey conducted by Rasmussen Reports reveals the grim reality. More than half of the respondents believe that a depression similar to the one experienced during the Great Depression is likely within the next few years. Four out of five people reported having less savings than they did before the COVID-19 pandemic. Total credit card debt has topped $1 trillion.
The prediction is clear: Bidenomics is leading us down a path of economic ruin. The year 2024 may very well see a repeat of the Great Depression unless drastic changes are made to our current economic policies. We must brace ourselves for the storm that’s coming, and hope that we can weather it.
In the end, this startling prediction serves as a wake-up call. A call for policy reform, a call for fiscal responsibility, and most importantly, a call for change. The year 2024 looms ominously on the horizon, but there’s still time to change course and avoid disaster.