Economist are predicting that in 2024 we will se another depression like in the 30s. This is because the government is spending money ad inflation is not decreasing. Another reason is because over the past 3 quarters the money supply growth rate has been negative and inflation has not yet decreased and prices are still going up. The last time we saw this type of drop in the money supply growth rate was during the Great Depression. These are all effecting household savings which means people are have to get more lines of credit and touch deeper into their savings accounts just for simple life necessities. This could lead to a huge economic crisis if the government and Feds do not truly get involved and stop the spending. Who knows what will happen though but for our sakes I hope the government gets their crap together so we can get out of this economic downfall. With elections next fall I hope that will bring some change but who knows, maybe all of us US citizens are just walking in the dark right now praying we will be able to survive on what we got.
https://www.foxbusiness.com/economy/new-data-reveals-crash-not-since-great-depression-could-hit-2024
It is crazy to think that we are entering this economic climates as adults for the first time. When our parents were leaving college and entering the workforce, things such as buy a car or house were much simpler. I have growing concerns of whether or not myself and my family will ever be able to buy a house in this market. Let's hope that all changes.
ReplyDeleteI totally agree Thomas! It is crazy, graduating in the Spring comes with both fear and joy. The fearfulness comes from this concept of high interest rates, crazy housing market, and even the high rent prices. I want nothing more than to get a house with my boyfriend but it seems so unrealistic in the world we live in now. I listened to a podcast that said our generation is spending money on different things (things that will bring us joy immediately) instead of saving for a house because the prices compared to the wages do not match. Praying for a change!
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ReplyDeleteSuch economic predictions for 2024 raise concerns for the future, especially for us just entering adult life. It's definitely a different economic landscape compared to what previous generations experienced. The challenges of buying a home and/or achieving financial stability are concerning. We can only hope that these economic issues will be addressed at some point.
ReplyDeleteI think these economic concerns should be continually monitored by people in our current state of life. As we enter adulthood, these things are rapidly coming into perspective. What does the job market look like when we enter into it? What do loans and interest rates look like once we enter the housing market? Will wages fall and make these things even more further out of reach than what they already appear to be? I think this is something we all should be concerned about and what that means for our lives after graduation.
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