When people talk about economic factors and stability I have to roll my eyes; especially these last few years. Maybe some people have truly benefitted from the economic surge or more likely tax cuts but overall if you look at other factors and statistics the story actually seems quite grim to me.
BUSINESS BANKRUPTCY & CLOSURES
First let’s talk about all the businesses collapsing and filing for bankruptcy in the last few years. If business bankruptcies stay on par the last two quarters of this year (to the first two) we will break the record set in 1987. We’ve already surpassed the average total yearly bankruptcy rate this year.
The media and Trump love to tout the strong employment tallies. But this doesn’t take into account two factors. 1) once you’ve been unemployed for over 6 months you are no longer statistically unemployed and being calculated or counted. 2) The dreaded gig economy employs a lot of people but doesn’t give them real livable wages. The average gig employee makes far less than poverty wages.
HOMELESS AND HOUSING COSTS
The homeless surge and housing costs are what I consider more reflective of actual livability factors in this country and those are trending badly.
Millennials spend even more….. probably because a fair amount live in metropolitan and urban areas, in which housing prices are typically much higher.
Yea. Whatever. 🙄🙄🙄