BIDEN ECONOMY: Consumer Sentiment Plunges to All-Time Low
Jun 11, 2022 15:58:05 GMT -5
Post by schwartzie on Jun 11, 2022 15:58:05 GMT -5
BIDEN ECONOMY: Consumer Sentiment Plunges to All-Time Low Due to Gas Prices and Product Shortages
By Joe Hoft
Published June 11, 2022 at 3:01pm
Americans know that the Biden economy is going to hell and believe it is getting worse. Not good.
HotAir shared some clips from various publications and polls.
A new report from the University of Michigan shows consumer sentiment has plunged to a 40-year low, while inflation hit a new 40-year high at the same time:
The University of Michigan’s gauge of consumer sentiment fell sharply to a record low reading of 50.2, down from a May reading of 58.4. Economists polled by the Wall Street Journal had expected an June reading of 59.
The level is comparable to the low point reached in the middle of the 1980 recession, U Mich said.
Americans’ expectations for overall inflation over the next year rose to 5.4 in June from 3.3% in May, while expectations for inflation over the next 5 years jumped to 3..3% from 3% in the prior month.
Another poll comes from the Anti-Trump Wall Street Journal:
The Wall Street Journal, …ran a poll at which Joe Biden’s press secretary scoffed. They found that 83% of respondents thought the economy was either poor or “not so good,” only 27% thought their financial situation would improve over the next few years, and the poll registered the highest level of discontent in 50 years of running the survey.
The Washington Post poll report this week should have prepared everyone for this level of pessimism:
Most Americans expect inflation to get worse in the next year and are adjusting their spending habits in response to rising prices, according to a poll conducted by The Washington Post and George Mason University’s Schar School of Policy and Government.
Inflation, which is near 40-year highs, has lifted the cost of just about everything, including essentials such as gas, groceries and housing. Overall prices are up 8.3 percent in the past year.
Families are feeling the pinch. Nearly 9 in 10 Americans say they’ve started bargain-hunting for cheaper products, and about three-quarters are cutting back on restaurants and entertainment, or putting off planned purchases, according to the Post-Schar poll conducted in late April and early May.
The entire nation knows that the Biden economy is collapsing. People only think it is getting worse. Americans are scared as Biden continues to do everything he can to seemingly destroy this country. When you look at the stolen election, energy dependence and every Biden action, it’s hard to believe he’s not trying to destroy this country on purpose.
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