Brandon continues to insist that the economy is doing great despite the ever-persistent inflation problem, constant gas price crisis, and continual inability of businesses to find enough people willing to work, particularly in low-level service jobs.
However, try as Team Biden might to paint a rosy picture of the current state of the US economy, things aren’t looking that great, as CEOs and pundits are increasingly noting, warning of a coming recession.
Recently, the former Toys “R” Us CEO sounded off on the state of the economy, warning that mass bankruptcies would be coming to so-called Main Street businesses this fall, with even some chains that haven’t properly prepared being in the danger zone of collapsing.
Newsmax’s Chris Salcedo said as much in the preamble to his show as well, albeit in a more partisan way, warning that economic winter is coming to America and highlighting the costs that come with such a recession.
Beginning, Salcedo made his stance on the state of the economy clear from the start, saying:
“The Democrats’ economy, it is poised to crash. That’s the focus in tonight’s preamble.
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“Most of the cable and broadcast networks, they are concerned with how a collapsing U.S. economy impacts the electoral prospects of their favorite party, the socialists in the Democrat Party. I couldn’t care less about the impact on Democrats or Republicans, their careers in Washington. As the ruling class, they appear to delight in playing games with our lives. I couldn’t care about that. I care about we the people.”
Continuing, Salcedo went on to highlight the factors pointing to a recession, noting that the interest rate error in particular is looking like something that might have lit the fuse of economic catastrophe. In his words:
“Watchdogs on social media monitoring economic data reveal that home prices are collapsing at the fastest pace since 2008. We all know what happened back then, don’t we? A massive recession.
“Just like in 2008, the U.S. government is responsible for the economic calamity that is coming on the horizon. Because Joe Biden’s regime lied, pretending that the inflation crisis was transitory, valuable time was wasted instead of methodical, logical and well-planned interest rate hikes that should have been spread out over these last two years.”
And the results of that delay could very well be disastrous, as Salcedo went on to point out, noting how the problems stemming from the sudden jump in rate hikes could hammer American consumers. In his words:
“Our people are being hit full-force by massive rate hikes all at once. As a result, people can’t afford to buy homes and, as a result, housing inventories are rising at the fastest pace in history and are already at a level previously associated with deep recession and economic de-leveraging.
“From the financial sector to the trades, to those who produce products that go into building a house, every sector is poised for massive layoffs, unemployment always a lagging indicator when the economy takes a downward turn. So once Biden’s Democrat economy takes your job, the socialists who make up the Democratic Party have another big surprise for you: food costs. They are forecast to go even higher.”
Let’s go Brandon!