THE WORLD HAS GONE DOWN A SEWER! WHAT’S NEXT?

by Larry Patterson

According to the media around the world, the Russian and Ukraine war has not only devastated both countries but it has devastated the world! From raising home prices, rents, food prices, and of course the escalating gas prices. The question is are average working people economically screwed in the year 2022? In my personal opinion, I would have to say yes family for a variety of reasons. 

 

And those multiple reasons in my personal opinion are listed below: 

  1. Your average working person's income isn’t increasing fast enough to meet inflation. Before the rise of gas prices, most working Americans are barely getting by as is. With 4 to 7 dollars a gallon gas, other aspects of the global economy will suffer i.e. vacations and unnecessary retail products. 
  2. The United States economy depends on consumer spending, and outside of basic expenses like rents, mortgages, food, and other utility bills gas prices are going take away spending from electronics, events, etc. 
  3. Last but not least, to the working people that are only earning their income from a regular 9 to 5. Those in this category are not really going to be able to survive. Only unless those working people have multiple streams of incomes, stocks, real estate,  businesses, assets or have 10 to 15 incomes in their home, etc. 

As of 2021, the weekly median earnings for full-time wage or salary workers in the United States in the second quarter of 2021 amounted to $990. It translates to a yearly income of approximately $51,480. The average price of a home nationwide is $374,900 as of the second quarter of 2021. That's a 16.2% increase from a year ago when the median was $322,600. All of this in my opinion is a recipe for economic disaster. 

 

So hopefully the real estate market will have some kind of correction, and Russia and Ukraine can work something out and end the war so that the economic sanctions can be lifted on Russia so the gas prices can come down to a more reasonable price again.  Remember a job stands for JUST OVER BROKE if you do not know how to make money outside of a 40 hour a week paycheck. I want to see every work and try their hardest to pull themselves out of this economic sewer that we’re in, and that we’re heading in family. 

 

  

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