https://www.zerohedge.com/personal-finance/has-silent-depression-already-started-united-states
Has A "Silent Depression" Already Started In The United States? (ZeroHedge .com)
Authored by Michael Snyder via The Economic Collapse,
The Biden administration and the corporate media are telling us over and over that the economy is just fine, but the term “silent depression” has been going viral on TikTok.
Housing, vehicles, food and just about everything else that we spend money on is far more unaffordable today than it was during the Great Depression of the 1930s. A realtor in Florida named Freddie Smith posted a video on TikTok with some absolutely startling numbers about the cost of living in the United States today, and that is what started the “silent depression” trend…
TikTok user Freddie Smith, a realtor based in Orlando, posted a video in September claiming that the U.S. economy is in what he calls a “Silent Depression.” In the video, which has amassed nearly 800,000 likes, Smith compares the average 2023 salary and basic costs to those of the Great Depression to highlight the growing cost-of-living crisis in the country.
“If you look back to the Great Depression, the house was only three times the average salary. Now, it is eight times the average salary,” Smith said. “The car was 46% of the salary, the car today is 85% of the salary. And here’s the craziest part, the rent was 16% of the average salary, it is now 42% of the average salary.”
Of course he is right on target.
There is a reason why 62 percent of the country is currently living paycheck to paycheck.
The cost of living has become incredibly oppressive for most Americans, and nobody can deny that reality.
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