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.

  • Beaver [he/him]
    ·
    6 months ago

    "The utility monster is feeling great, average happiness is at an all-time high, but if you talk to anyone on the street, they seem so glum!"