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"20 Signs Our Society Is Rapidly
Deteriorating All Around Us"
by Epic Economist
"Everything seems to be falling off the tracks lately. The housing market is melting down, but home prices continue to skyrocket. Financial markets are in panic mode. Businesses are shuttering a large number of stores, cutting jobs, and struggling to stay afloat, while the average American is seeing the cost of living rise past their purchasing power, at the same time living conditions continue to worsen for many of us. This is one of the craziest economies of all times, and our entire population is paying a hefty price.
How can our society evolve if more than half of its citizens can’t afford somewhere to live? The December Housing Affordability Survey found that 55% of Americans can’t afford to buy a home at current prices and interest rates. Meanwhile, 62% percent of renters are concerned about their ability to pay rent. In fact, a separate survey conducted by rewards app Piñata, a program that works with renters to build their credit and get cash back for paying their rent, found that 30% of US renters have taken out a loan to help pay rent in the past twelve months, and right now, around 15% of them, or about 8 million people, are late on rent as prices continue to soar. This means that many families are at risk of losing their homes as we enter 2023, and unfortunately, the official forecast is that housing will continue to be expensive throughout the entire year.
At the same time, almost 133 million workers make less than $15 an hour, according to a study by Oxfam America, an anti-poverty advocacy group.“It’s shameful that at a time when many US companies are boasting record profits, some of the hardest working people in this country – especially people who keep our economy and society functioning – are struggling to get by and falling behind,” said Kaitlyn Henderson, the study’s author, and senior research adviser at Oxfam America. It’s been almost a decade that wages fail to keep up with the rate of inflation, and as interest rates continue to soar, we will see our purchasing power getting increasingly lower.
No wonder why the latest Gallup poll showed that the vast majority of Americans predict 2023 will bring more economic difficulties such as higher taxes and rampant inflation. Eight in 10 respondents believe taxes will increase along with the federal deficit, while two-thirds of those polled believe prices will rise and the stock market will continue to tumble. Pessimism also extends to politics and world affairs with 90 percent of respondents anticipating domestic political conflict and 85 percent foreseeing a "troubled year with much international discord."Slightly more than half of the respondents expect higher unemployment as well," states the American consulting company.
In essence, we all can feel that something is really wrong with our country. It definitely doesn't feel like we’re in the right direction. Things are taking a turn for the worst in our society, and the implosion of our economy will only make conditions more difficult for all of us. We are literally careening toward disaster, and it seems like no one is going to come for the rescue. Today, we decided to compile several indicators that show why the fabric of our society is being ripped apart before our eyes, and also why so many absurdities are happening right now."
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