Has A “Silent Depression” Already Started In The United States?
https://theeconomiccollapseblog.com/has-a-silent-depression-already-started-in-the-united-states/The Biden administration and the corporate media are telling us over and over that the economy is just fine, but the term “silent depression” has been going viral on TikTok. Housing, vehicles, food and just about everything else that we spend money on is far more unaffordable today than it was during the Great Depression of the 1930s. A realtor in Florida named Freddie Smith posted a video on TikTok with some absolutely startling numbers about the cost of living in the United States today, and that is what started the “silent depression” trend…
TikTok user Freddie Smith, a realtor based in Orlando, posted a video in September claiming that the U.S. economy is in what he calls a “Silent Depression.” In the video, which has amassed nearly 800,000 likes, Smith compares the average 2023 salary and basic costs to those of the Great Depression to highlight the growing cost-of-living crisis in the country.
“If you look back to the Great Depression, the house was only three times the average salary. Now, it is eight times the average salary,” Smith said. “The car was 46% of the salary, the car today is 85% of the salary. And here’s the craziest part, the rent was 16% of the average salary, it is now 42% of the average salary.”
Of course he is right on target.
There is a reason why 62 percent of the country is currently living paycheck to paycheck.
Everything is inflated and wages cannot keep up.
So what is the truth?
Are we in a “silent depression” or not?
Let’s take a look at three key areas.
If honest numbers were being used, they would show that GDP growth has been negative for almost the entire time that Joe Biden has been in the White House.
That would indicate that we are at least experiencing a recession.
The economy is in a recession.
And it certainly feels like a “silent depression” if you are living in the streets…
Homelessness shot up by more than 12% this year, reaching 653,104 people. The numbers represent the sharpest increase and largest unhoused population since the federal government began tallying totals in 2007, the U.S. Department of Urban Planning and Development said Friday.
If the economy is in “good shape” why are Americans becoming homeless at the fastest pace ever recorded?
That doesn’t make any sense at all.
But those at the top of the economic food chain simply do not understand what all the fuss is about. Today, Americans age 70 and older now hold more than 30 percent of the nation’s wealth. For the moment, life is good for the elite, and they think that the rest of us just need to work harder.
The economy is not fine.
