11 Signs That U.S. Consumers Are In Very Serious Trouble As We Head Into The Final Stretch Of 2023
https://theeconomiccollapseblog.com/11-signs-that-u-s-consumers-are-in-very-serious-trouble-as-we-head-into-the-final-stretch-of-2023/U.S. consumers are getting weaker and weaker and weaker. Today, debt levels have risen to unprecedented heights, but thanks to roaring inflation our standard of living has been steadily going down. Most Americans are working extremely hard, but they have very little to show for it. And now the latest economic downturn is really starting to bite. Layoffs are starting to surge again, once thriving businesses are shutting down all over the nation, and hunger and homelessness are exploding. If economic conditions continue to deteriorate at this pace, what will things look like a year from now?
For decades, we have been able to count on U.S. consumers to just keep spending money no matter what the economic outlook was, but now things have changed.
The following are 11 signs that U.S. consumers are in very serious trouble as we head into the final stretch of 2023…
Trouble appears to be brewing in the economy.
#1 U.S. renters are spending 30 percent of their incomes just on rent…
#2 One food bank executive just told USA Today that she is seeing “the worst rate of hunger in my career” right now…
#3 Wells Fargo just shut down 13 bank branches in a single week…
#4 Average hourly earnings for all employees have fallen by 3.32 percent since Joe Biden entered the White House…
#5 Due to a lack of consumer demand, three different major Burger King franchisees have recently declared bankruptcy…
#6 Vice Media has announced that it will be laying off dozens of staffers…
#7 According to Challenger, Gray & Christmas, almost 20,000 media jobs have already been eliminated this year…
#8 Amazon is laying off hundreds of workers in its Alexa division…
#9 Just in time for the holidays, Citigroup has decided to conduct large scale layoffs…
#10 As consumer wealth has dried up, federal tax receipts have been falling on a quarterly basis since the third quarter of 2022…
#11 80 percent of U.S. households are actually poorer than they were when the COVID pandemic originally hit this country…
