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.
Following his election victory, Donald Trump, a billionaire himself, once again decided to include prominent magnates in his administration, as he did during his first presidential term. As a result, Trump's current cabinet features seven billionaires, making it one of the wealthiest in US history. Let's find out who these billionaires are and the roles they have been assigned.
Not long ago, the United States held a presidential election, where Donald Trump emerged victorious. Today, he is recognized as the wealthiest American leader in the country's history. Let's take a closer look at other former US presidents who also achieved significant financial success.
