Saturday, January 21, 2023

"15 Signs That American Family Budgets Will Be Blown Through In 2023"

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"15 Signs That American Family Budgets 
Will Be Blown Through In 2023"
by Epic Economist

"The systematic destruction of American Family budgets has begun. But most people have no idea what is about to come. There was a time when the average American could work hard and build a bright future for the whole family. But not anymore. From galloping inflation and unprecedented housing bubble to exploitative health care system and soaring energy prices, evident signs show that the middle class will be unable to survive in 2023. Just like the federal budget deficit, the American family budgets are also about to become a headache for the citizens.

In Today's video we bring you the 15 indicators that American family budgets will be blown away in 2023. Soaring inflation caused the cost of many goods to increase significantly in the past year. But the ghost of inflation is still hovering on the horizon. And this trend is likely to continue through 2023. With food prices at elementary and secondary schools already increased by 254%, egg prices by almost 50 percent and bread by 15 percent, the family budgets will definitely take a toll in the coming months.

One in 7 US households is already scrambling to pay for food right now. How are they going to live in such harsh conditions with no jobs? With the average American household budget at around $5,000, unemployment in this economic mayhem would shatter a common man. But unemployment is here to stay just like the raging fuel prices. The United States Energy Information Administration (EIA) has rung the alarm bells that the energy crisis is far from over. Energy prices, including oil, natural gas, coal, and electricity, will remain historically high through 2023 due to geo-political uncertainties and tight inventories.

Winter from hell is here which would shake the supply and demand system. Energy crisis will not be averted unless we nip evil in the bud. But Russia is not pulling back at the moment. In fact, the ultimate endgame in Ukraine is uncertain. And it appears that muscle flexing in Ukraine would continue at the expense of food hikes and economic catastrophe. Well, American wallets will face the brunt of this senseless war. As the war continues, Ukrainian wheat prices will skyrocket along with Russian fertilizer, which means that farmers would expect an expensive crop in 2023.

These are incredibly hard times for millions of us. Most people are the victim of this long turn economic decline. The downfall has begun and it will slash the American family budgets in 2023. Prepare for the winter as the crisis will shatter everyone and it will be irreversible."
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