Despite claims to the contrary, America’s economic crisis is likely to get worse.
Shareholders lost $1.6 trillion on Tuesday when the S&P 500 dropped more than 177 points. This plunge was the stock market’s worst day in more than two years. Investors sold everything from stocks to bonds to oil to gold after the United States Department of Labor announced that August’s consumer price index rose 8.3 percent over August 2021. Economic analysts and everyday citizens alike initially hoped the Federal Reserve’s rate hikes would bring inflation down to normal levels, but Tuesday’s consumer price index report revealed this optimism was misplaced.
Read more at “U.S. Standard of Living Set to Plummet”