America’s 18.59 Trillion Dollar Warning: A Crisis the Fed Can’t Hide Anymore

America’s 18.59 Trillion Dollar Warning: A Crisis the Fed Can’t Hide Anymore

A new report from the Federal Reserve Bank of New York shows that American household debt has hit an unprecedented 18.59 trillion dollars.

This includes mortgages, credit card balances, auto loans, and student loans.

Food inflation is also rising at an extraordinary pace.

The dollar is lagging behind inflation, and purchasing power has taken a steep fall.

While many countries around the world are dealing with far higher inflation rates, the absence of annual wage increases in the United States has made even this level of inflation difficult for Americans to bear.

It has been about sixteen years since wages last saw a meaningful rise.

Now, as speculation grows over escalating global tensions and even a possible direct confrontation between China and the United States over Taiwan, experts warn that Washington lacks the economic capacity for a major war

A new conflict could trigger a dangerous social and economic tsunami