Authored by Michael Snyder via The Economic Collapse blog,
The economy has been the number one issue for U.S. voters for several years in a row, and it isn’t because things are good.
Consumer confidence is at an all-time low, inflation is starting to accelerate once again, mass layoffs are being conducted all over the nation, and delinquencies and foreclosures are soaring. Nobody can dispute any of the facts that I am about to share with you. We have an enormous economic mess on our hands, and now the crisis in the Middle East threatens to plunge the entire global economic system into chaos in the months ahead. In other words, conditions are not good now and the outlook for the future is not promising at all.
The following are 18 shocking facts that prove that the U.S. economy is in far worse shape than most people realize…
#1Consumer confidence in the United States has fallento an all-time record low…
Consumer confidence plunged to a record low in April as fears mounted over rising energy prices and the broader impact of the Iran war, according to a University of Michigan survey Friday.
The university’s headline index of consumer sentiment tumbled to 47.6, down 10.7% from the March survey to its lowest on record. Current conditions and expectations indexes also saw double-digit monthly declines.
#2Student loan delinquencies have exploded to a levelthat we have never seen before…
Student loan delinquency has climbed to roughly 25 percent of borrowers with payments due during the first year of the current Trump administration, according to new analysis.
Researchers from The Century Foundation and Protect Borrowers said the sharp rise in missed payments, nearly triple the pre-coronavirus pandemic rate, has pushed millions into default risk and lowered credit scores, warning of broader financial fallout for households and colleges facing higher nonpayment rates.
Source: ZeroHedge News
