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14 Jul 2022 20:32:30 UTC
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Inflation Hits 9.1%, Will We See the Biggest Crash of Our Generation?
The U.S. Economic outlook continues to look dire as we hit record levels of inflation, spurring the risk of a major recession. Food banks are reporting a major increase in demand as lines are going around the building and people are showing up on foot due to the cost of gas. There has been a 79% increase in demand at food banks from just last year with many people lining up at the food bank for the first time ever. This is a major indicator that the rise in gas, electric, and food is impacting normally financially secure households.
Michael Burry has said that we haven't seen the bottom yet and that things might get much worse. JPMorgan Profit Drops 28% as Bank Signals Concern on Economy. We also have a nationwide housing crisis. China is also facing a major economic crisis that will continue to negatively affect the US. The wealth divide continues to grow.

Sources:
https://gab.com/disclosetv/posts/108645951112901947
https://twitter.com/NorthmanTrader/status/1547573475161755651
https://twitter.com/charliebilello/status/1547218698146119680
https://www.marketwatch.com/story/u-s-wholesale-prices-surge-again-and-signal-inflation-is-still-running-hot-11657802432
https://archive.ph/k9viC
https://twitter.com/NYCComptroller/status/1546867826379685892
https://apnews.com/article/hungerfoodbanksinflation-4fd5d6fb5879eaecc3000fe2b73df006?taid=62d02750a14d530001c56d6c&utm_campaign=TrueAnthem&utm_medium=AP&utm_source=Twitter
https://www.cnbc.com/2022/07/14/copper-prices-are-signaling-investors-are-negative-on-the-economy-anz.html
https://www.scmp.com/economy/china-economy/article/3185326/china-facing-more-economic-woes-ahead-gdp-release-mortgage
https://archive.ph/Wsrns
https://web.archive.org/web/20220714144356/https://www.businessinsider.com/top-economist-us-economy-recession-federal-reserve-interest-rates-inflation-2022-7
https://www.thegatewaypundit.com/2022/07/biden-economy/
https://twitter.com/Breaking911/status/1547268792501288961
https://twitter.com/byHeatherLong/status/1547200319532195841
https://spectator.org/how-to-cure-inflation/

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#Inflation #Recession #Investing #Finances
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