The US economy is experiencing a "selective recession" where lower-income Americans are struggling due to rising costs and dwindling savings, while upper-income consumers remain unaffected. Inflation, although cooling down, has significantly impacted the purchasing power of lower and middle-income individuals. With the pandemic savings having been depleted for most Americans, recession fears are now growing as the job market weakens and interest rates remain high.

  • Barx [none/use name]
    ·
    6 months ago

    We've hit the official recession stats several times but the high priests of capital didn't like it so they just said, "nuh-uh".