American economy is breaking in two..? Recession for sure..?

Sowmiya Sriram
American economy is breaking in two..? Recession for sure..?

As the American people and the American economy are divided into two groups, the fear of recession has increased greatly in the country. To prove this, the company's quarterly results, consumer credit, people's financial condition, low-income people living only on credit cards, etc. A huge difference has developed among the people of the country, such as spending more, buying luxury goods, and going on foreign tours. This has not only created a big headache for the US government but also affected the countries of the world.
Americans have begun to buy more and more basic and daily necessities, starting with shopping, groceries, and beer. Similarly, people's credit card debt has increased day by day. This has created a big gap in the economy among the American people, and the American economy, which has benefited from government aid and low-interest rates, has now begun to rapidly decline.
Similarly, the number of workers in the US is declining rapidly, and the number of workers moving for higher salaries has also decreased. The main reason for this is the decline in employment in the United States.
According to research by LendingClub, about 61 percent of Americans live paycheck to paycheck. As a result, there will be no investments, no savings, and in case of additional expenses, you will be forced to take a loan.
As in India, the middle class is further pushed below the poverty line and the rich are getting richer. As a result, not only will there be a major slowdown in the American trade market, but the country's economy is going to collapse.
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