There seems to be an illusion around what is happening in the economy. For various reasons many are quitting their jobs (the great resignation) with ambitions of becoming an entrepreneur or starting work in the gig field.
Consumers are spending less money and companies have started layoffs. Two signs that you have be very wise with your financial decisions.
Things are about to get REAL here in America and across the globe. And I say this not to scare anyone but because I’m a realist.
Most of what is happening is completely out of our hands but the unusual is about to become the norm. I’ll try not to be too opinionated but I will start to share more based on economic trends and published data.
June will be here in a couple of days and here’s what to expect the rest of 2022:
Gas prices will continue to surge higher, and many Americans will be shocked by how high they eventually go.
Food prices will continue to rise.
The Federal Reserve is likely to continue to aggressively raise interest rates.
Higher interest rates will be devastating for the housing market in the United States.
As the economy slows down, we should expect layoffs to increase and jobless claims will eventually start to spike.
Stock prices will continue to fall.
A recession is either already here or will arrive soon. We will see a historic economic meltdown so it’s important to prepare for it mentally and financially.