Experts note that a similar situation was observed in 2008. Many of them fear that the impending crisis will be worse than the previous one. Below we describe 10 signs that the US is facing serious economic problems.
Since there is a decline in economic activity in the United States, oil consumption grows, and consequently, demand for it and prices. The decline in the cost of WTI oil, observed in the last 12 days, is of concern to experts. The cost of a barrel of oil dropped to $51.69, the minimum of October last year.
According to a recent survey, only 13% of Americans plan to buy property next year. This indicator is reduced three quarters in a row. Over the past 12 months, it has decreased by half.
As the real estate market stagnates, the number of unsold homes across the country is growing every day.
For example, the number of unsold single-family homes in October jumped by 86% compared to the same period last year.
According to Bank of America, the most “bearish” sentiment is prevailing among fund managers around the world since 2008. According to a survey, 44% of fund managers expect a decrease in global economic growth next year. The most pessimistic forecast since November 2008. In addition, experts expect a slowdown in China's economy next year, which also raises their concerns.
America's retail market also continues to show deterioration. According to Bloomberg, some retailers are doing so badly that they return rented space to landlords before the lease expires. An example is Sears Holdings Corp.
Despite the unfolding trade war with China, the US trade deficit with other countries of the world will reach a historic high by the end of this year.
A recent study showed that the average wage of about 62% of US jobs do not pay enough to support the middle class.
Another survey among Americans showed that the majority of American citizens today do not have the so-called financial airbag.
According to the data, 58% of respondents have savings of less than $1,000.
Currently, more than 50% of children in the United States live in families that receive certain types of material support from the US federal government.
And what is most dramatic, more and more Americans are on the street having lost their homes for one reason or another. Currently, more than 500 thousand residents of US cities are homeless, and this number is constantly growing.
Economic inequality remains one of the most pressing issues in today's world. To measure the gap between the rich and the poor in each country, the Gini index is used. This coefficient reflects how income is distributed within a society: the closer the index is to 100, the greater the inequality. Let's explore which countries currently have the highest Gini index values
This year has been pivotal for Bitcoin, the world's leading cryptocurrency. One of the key milestones was the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission. In April 2024, Bitcoin also experienced a halving event, which is typically seen as a positive development for the digital asset. This year, the cryptocurrency is up 57%, and analysts remain optimistic about its future. However, they highlight four key factors that could influence Bitcoin's trajectory, both for better and for worse
Analytical periodical US News and World Report has presented its ranking of the best countries in the world in terms of quality of life, based on a survey of nearly 17,000 people. The list considers factors such as economic and political stability, a strong labor market, income equality, family-friendliness, safety, the quality of education, and healthcare systems. Let's find out which countries made it to the top of this list.
