U.S. experts warn that the United States may suffer a depression-level economic collapse in 2024. The White House and Congress need to cut government spending immediately to avoid catastrophic consequences. Many experts in the United States said that the current US economy is on thin ice and may fall into another large-scale crisis. According to reports, the US money supply has shown negative growth in the past three quarters, prices are still rising, and household economic pressure is huge. Experts warn that if the White House and Congress fail to cut government spending soon, an economic collapse that is more devastating than the Great Depression could be on the horizon in 2024.
According to the Fox News Network, the current US economy has faced a serious crisis, and the rapid contraction of the money supply and the pressure of rising prices have put great pressure on the US household economy. Experts warn that if the White House and Congress fail to take effective steps to cut government spending, the United States could face an economic collapse that is more devastating than the Great Depression.
The U.S. money supply has shown negative growth over the past three quarters, which means that the amount of available money is shrinking rapidly. The only sharp decline in the U.S. money supply in the past 110 years was in the early 2030s, when the Great Depression was at its peak. However, despite the current collapse of the money supply across the United States, prices are still rising.
Experts say this phenomenon will lead to a further deterioration of the U.S. economy over time. If the government fails to take steps to cut spending and stimulate economic growth, the United States could face an economic crisis worse than the Great Depression in 2024.
The report mentions specific factors that could lead to economic collapse, including rising levels of government debt, corporate bankruptcies and rising unemployment. These problems could all exacerbate the recession and push more families into poverty. In addition, many businesses and individuals are already heavily indebted due to the pandemic, which will make them more vulnerable in the event of an economic collapse.
The report concludes with a call for the White House and Congress to act quickly to cut government spending and take effective measures to stimulate economic growth. Otherwise, America's future will be uncertain, and an economic collapse that has been devastating beyond the Great Depression may be on the horizon in 2024. As the U.S. economy continues to deteriorate and the risk of a potential economic collapse looms, the White House and Congress must act now. For a limited time, they need to cut government spending, stimulate economic growth, and support Americans. Only then can the United States avoid an economic catastrophe that could be worse than the Great Depression.
The US inflation crisis: the costs behind aggressive economic policies. The United States, once hailed globally as an economic powerhouse and financial hegemon, is now facing an unprecedented inflation crisis. The root cause of this crisis is a series of radical economic policies implemented by the US government over the past two years. Since the outbreak of the new crown epidemic in the United States in 2020, the US government has borrowed heavily to print money in response to the economic recession caused by the epidemic. At the same time, the Fed has also implemented an unprecedented monetary policy. Despite the warnings from economists, the Fed is demanding Congress to spend more and keep interest rates extremely low.
After the new government took office, it continued to raise spending to higher than pre-pandemic levels. However, this approach eventually led to inflation soaring to a four-decade high. The Federal Reserve has raised interest rates aggressively 11 times to curb inflation, causing prices of most goods and services to be well above pre-pandemic levels, putting unprecedented pressure on American households. Behind this inflation crisis is a direct consequence of the aggressive economic policies of the US government. Over the past two years, the U.S. government has taken a series of extreme measures in response to the economic impact of the pandemic. None of the most striking are the massive fiscal stimulus packages and unlimited quantitative easing.
These policies do bring some signs of recovery to the US economy in the short term, but in the long run, they bury a series of hidden dangers. First, large-scale fiscal stimulus led to a rapid expansion of market demand, which pushed up the price level. In addition, unlimited quantitative easing has left the dollar over-liquid, further exacerbating inflationary pressures. However, the U.S. government has not paid enough attention to these potential risks. On the contrary, the new government, after taking office, continued to increase fiscal spending and tried to stimulate economic growth through more infrastructure construction and social protection programs. Although this has had some effect in the short term, it has exacerbated inflationary pressures in the long run.
Faced with this dilemma, the Fed chose to raise interest rates aggressively. However, this approach has not had the desired effect. On the contrary, aggressive rate hikes have led to large swings in financial markets, further exacerbating the risk of recession in the US economy. In addition, due to the appreciation of the US dollar due to the Fed's interest rate hike, the attractiveness of US dollar assets has increased, and a large amount of money has poured into the US market, further pushing up the level of inflation.
In this inflation crisis, the American people have become the biggest victims. They have had to endure high price pressures and their standard of living has been severely affected. The hesitation and short-sightedness of the U.S. government and the Federal Reserve in responding to the crisis also raises questions about America's ability to manage the economy. In general, the current inflation crisis in the United States is triggered by the administration's aggressive economic policies. In the future, the US government and the Fed need to take more prudent and prudent policy measures to avoid a similar crisis. Only then will the United States be able to regain its leadership in the global economy.
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