Watertown NY 04.13.2024 By Hans Wilder
Ladies and gentlemen, step right up to the grand spectacle of the American economy, where inflation is rising faster than your blood pressure during a presidential debate! The timing couldn’t be worse for Biden, as he’s juggling more than just opinion polls. The Fed’s likely to keep interest rates high, turning the American dream into a not-so-cheap sleep thanks to those spiked mortgage rates.
Over in the retail corner, we’ve got a full-on bloodbath with 5,500 stores shutting down last year alone. Big names like Bed Bath & Beyond, Walgreens, and Rite Aid aren’t just closing doors; they’re slamming them shut, driven by bankruptcy, poor sales, and let’s not forget, escalating theft. It’s a retail apocalypse, folks, and even the big guys are scrambling for cover.
And just when you thought your wallet could breathe a sigh of relief, the oil market decides to join the freak show. Crude oil prices are doing a high-wire act above $90 a barrel, threatening to ignite not just the fuel in your car but also the already simmering inflation. As the Middle East stirs the geopolitical pot, the White House is sweating bullets, trying to keep gas prices from blowing past the dreaded $4 mark.
So there you have it, folks! The economic circus is in town, and it’s turning out to be a triple act of high stakes, high prices, and high anxieties. And remember, in this circus, the clowns are in charge!
