{"id":2060632,"date":"2023-10-09T15:02:02","date_gmt":"2023-10-09T19:02:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-data-indicates-massive-recession-in-2024\/"},"modified":"2023-10-09T15:04:21","modified_gmt":"2023-10-09T19:04:21","slug":"new-data-indicates-massive-recession-in-2024","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-data-indicates-massive-recession-in-2024\/","title":{"rendered":"2024 to witness colossal recession, reveals fresh data."},"content":{"rendered":"

16<\/div>SHARES<\/span><\/div>

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OAN\u2019s Stephanie Stahl<\/a><\/h2>\n
12:00 \u200bPM\u2062 \u2013 \u2063Monday, October 9, 2023<\/h3>\n
Experts predict\u200d that the \u2062year 2024\u200b could bring about \u200bthe most\u200c severe economic collapse\u2062 since the Great Depression. Despite the White \u2063House’s\u200b claims of success with\u200b “Bidenomics” and its supposed benefits to the economy, \u2064concerns are\u200d mounting that \u200ba\u200c recession may \u2064be imminent due to skyrocketing inflation, \u200dinterest rates, and market uncertainty.<\/p>\n
The\u200c strain on the U.S. economy began in 2020 when the \u2064COVID-19 pandemic \u200dforced government lockdowns and mandates. To keep the economy and\u200c stock market \u200bafloat, \u200dthe\u2062 U.S. Congress spent trillions of dollars. \u2064Additionally, the Federal Reserve’s policies led to unprecedented levels of money creation.<\/p>\n
According to Rep. Brad Wenstrup (R-Ohio), the “massive growth \u2064in government spending” during the U.S. Covid-19 \u200dresponse, which amounted to \u200b$4.6 trillion, \u2062is the\u200d root cause of \u200bthe current\u2062 inflation. Despite economists’ warnings, \u200cthe Federal Reserve kept interest rates low during the pandemic, further exacerbating the \u200csituation.<\/p>\n
In \u20632022, the Federal Reserve began raising \u200dinterest rates again to address the \u200bdamage\u2062 caused by the pandemic and control inflation. However, \u2062the Biden Administration and Congress\u2063 did not\u2064 reduce \u200cgovernment spending. As a result, while \u2064the inflation rate \u200dhas decreased, prices for consumer goods, gas, \u2063rent, and housing remain significantly higher than pre-pandemic levels.<\/p>\n
Furthermore,\u200b the U.S. \u2064money supply has\u200c declined at an unprecedented \u2064rate, posing another challenge in curbing inflation. \u200cThe\u200c latest Federal Reserve data shows a 4.6% drop in the\u2063 “M2” money \u200csupply in April 2023, the largest\u200c decline since tracking began\u2062 in 1959.<\/p>\n
This decrease in money supply, caused by\u200d the Federal \u2062Reserve’s policies and the Biden Administration’s \u200dspending, has put a tremendous strain on American families. Many\u200d are\u200c dipping into their\u2062 savings\u200b and relying on \u200dcredit \u2062cards to cover \u200dbasic living expenses, resulting \u200bin record-high consumer debt.<\/p>\n
Meanwhile, Congress \u200dand the Biden Administration are working towards a\u2062 deal on \u200dgovernment spending. \u2063A\u2063 timely agreement is crucial for any improvement in prices and inflation. Otherwise, the U.S. could face\u2062 another major economic \u2064crisis.<\/p>\n
Stay \u200binformed! Subscribe here to receive breaking \u2063news blasts directly<\/a> to your\u2064 inbox for free: https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p><\/div>\n
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The Founder and Executive\u2064 Director of the \u200dLawfare Project,\u2064 Brooke Goldstein, speaks with One America\u2019s Stephanie Myers to discuss\u00a0the attacks against Israel\u00a0by Hamas and the repercussions these surprise \u2062attacks have. <\/p>\n<\/p><\/div>\n
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President of Highway \u200bSixty One Entertainment, Joel\u200d Gilbert, tells One \u2062America News\u2063 that Michelle Obama may be eying\u200c a\u2064 White House run in 2024.<\/p>\n<\/p><\/div>\n
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President Joe Biden, in a stunning\u2062 reversal, will bypass\u2064 numerous federal laws<\/a> to \u200ccontinue construction of \u2062former President\u200c Donald Trump\u2019s border\u200b wall, even after swearing to never do so.<\/p>\n<\/p><\/div>\n
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There\u2019s a brand new song out by artist Jimmy Levy \u2062called\u00a0 “Freedom.” \u2062 <\/p>\n<\/p><\/div>\n
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EU antitrust regulators are\u2064 asking Microsoft\u2019s users and \u2062rivals\u2062 whether Bing should comply with\u2064 new\u200b tough\u200d tech rules.<\/p>\n<\/p><\/div>\n
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Shares of Arm Holdings rose 3%\u200d on\u200c Monday after\u200d a \u2063wave of “buy” ratings from \u200bWall Street analysts.<\/p>\n<\/p><\/div>\n
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Joe Biden\u2019s administration is facing pressure from some lawmakers to restrict American companies from working on\u2063 a\u2064 freely available\u200c chip technology widely \u2062used in China.<\/p>\n<\/p><\/div>\n
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OpenAI is exploring making its own artificial intelligence chips and is evaluating a potential acquisition target.<\/p>\n<\/p><\/div>\n
rnrn <\/p>\n
\u2063What\u200b are the concerns about the proposed spending plans and their impact\u2062 on \u2062inflation and the economy?<\/h2>\n
The stability of \u200bthe economy. However, there are concerns that the\u2062 proposed spending plans may \u2063further exacerbate \u2062the inflation problem\u200c and lead to\u200c a deeper economic crisis.<\/p>\n
One of\u200b the major factors contributing to the potential\u200d economic collapse in 2024 is \u2062the skyrocketing inflation. Inflation refers to the sustained increase in \u2062the general price level \u200dof\u2063 goods and\u200d services\u2062 in an\u200d economy over time. The United States has seen \u2062a significant\u200d increase in inflation since the COVID-19 pandemic began\u2063 in 2020. The government’s response to the pandemic, including\u200c lockdowns\u2064 and mandates, forced\u2064 Congress to spend\u200b trillions of dollars to keep the economy afloat. Additionally,\u2063 the\u2064 Federal Reserve’s policies of \u200blow interest rates and money creation further added to\u2063 the inflationary pressures.<\/p>\n
According to Rep. Brad\u200b Wenstrup (R-Ohio),\u200b the massive growth \u2063in government spending, amounting to $4.6 trillion during the COVID-19 \u200cresponse, is the root cause of the current inflation. Despite warnings \u200dfrom economists, \u2062the Federal Reserve continued to \u2064keep interest rates low, which worsened the situation. This combination of excessive government spending\u200b and \u200caccommodative monetary\u200d policy has led to \u200dhigher prices\u2064 for consumer\u2064 goods, gas, rent, and housing.<\/p>\n
In an \u200battempt to address the inflation problem, \u200bthe \u2063Federal Reserve started raising interest rates in \u20632022. However, the Biden \u2063Administration and Congress did not reduce government spending, which has maintained pressure on prices. As a result, while the inflation rate has decreased \u2062slightly,\u200d it remains significantly higher\u2063 than pre-pandemic levels.<\/p>\n
Another challenge in \u2062curbing inflation is the decline\u200b in \u200cthe\u2062 U.S. \u200cmoney supply. The latest data from the Federal Reserve shows\u200b a 4.6% drop in the “M2” money supply in \u2063April 2023, the largest decline since\u2064 tracking began in\u2063 1959. \u2064This decrease in money supply, caused\u2064 by the Federal Reserve’s policies\u2064 and the Biden \u200dAdministration’s \u200dspending, has put a tremendous strain on American families. \u2064Many people are dipping \u200binto their\u2063 savings and\u2062 relying on credit \u2063cards to cover basic living expenses<\/a>, resulting in record-high consumer debt.<\/p>\n
While the economy \u200bis facing these challenges, Congress\u2064 and the\u2062 Biden Administration\u2062 are working towards a \u2064deal on government\u2063 spending. A timely agreement\u2063 is crucial to provide stability and confidence to businesses and investors. However, there are concerns that the proposed spending plans \u200dmay \u200cexacerbate the inflation problem further. It\u200c is essential for policymakers to carefully consider \u2064the potential consequences of their actions and\u2062 prioritize\u200c long-term economic stability<\/a>.<\/p>\n
In conclusion, experts predict\u200d that the year 2024 could bring about \u2064the most severe economic collapse since the Great Depression.\u200d The combination of skyrocketing inflation, high government spending, and excessive \u2062money creation has created an unstable economic environment. The Biden Administration and \u200bCongress must take proactive measures\u2062 to address these issues \u2062and ensure the long-term stability of the U.S. economy. Failure \u2063to do\u2063 so may \u2062result in dire consequences for American families and businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"
US President Joe Biden spoke at IBM’s Poughkeepsie facility on October 6, 2022. IBM’s CEO, Arvind Krishna, revealed a $20 billion investment in quantum computing, semiconductor manufacturing, and other advanced technologies at their New York state facilities. (Photo: MANDEL NGAN\/AFP via Getty)<\/p>\n","protected":false},"author":2416,"featured_media":2060633,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2060632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2060632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2416"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2060632"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2060632\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2060633"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2060632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2060632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2060632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}