Economist John Lonski says the economy is slowing down. There’s very little growth in retail sales and that’s a warning sign. 200,000 new jobs a month may become a thing of the past with companies deciding to cut payrolls because sales aren’t growing fast enough. With larger layoffs, there’s less consumer spending and we end up in a recession. Lonski says high inflation and high interest rates have caught up with the American consumer. Personal income growth has slowed to 1%, prices are higher and there’s no improvement in their living standards. Unfortunately for Joe Biden, the economic situation gets worse as Election Day approaches. No matter who the Dems put in as their candidate, Americans are tired of “wokeism” they don’t like crime and they don’t like being told what to think.
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