USA - The headline of this article is not a misprint. The reason why “affordability” has become the number one issue for US voters is because most of the population is being absolutely crushed by the rising cost of living. Just look at how much you are paying for electricity compared to five years ago. And just look at how much you are paying for food compared to five years ago. Housing costs have risen to absurd heights, property taxes have become absolutely insane in many areas of the country, and health insurance premiums have more than doubled for millions of Americans. It isn’t just a coincidence that so many people are bitterly complaining about the cost of living these days. The truth is that most of the country is experiencing very real pain.
Of course it isn’t an accident that this has happened. Our politicians have borrowed and spent 28 trillion dollars that we did not have since Barack Obama first entered the White House in January 2009, and I warned that all of this money would create rampant inflation.
On top of that, the Federal Reserve has pumped trillions of dollars that were created out of thin air into the financial system since 2008. That has helped the stock market hit record highs, but it has been one of the factors that has made the cost of living unbearable for the rest of us. The very foolish decisions that our leaders have been making have had dramatic consequences.
Previous generations handed us the keys to the greatest economic machine that the world had never seen. And we went out and wrecked it. 50 years ago, the US economy was so dominant that it would have taken stupidity on an epic scale to cause it to fail. But somehow we managed to do it. US households are piling up tremendous amounts of debt. In fact, US household debt recently hit an all-time record high of 18.59 trillion dollars…
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