Since January 2020 when the Wuhan coronavirus (COVID-19) “pandemic” was first launched, the average monthly mortgage payment has nearly doubled, increasing by 96 percent in just four years. Back then, a typical buyer paid just under $1,100 a month for a mortgage with 10 percent down – today, that average has ballooned to $2,200 a month, which is well above the 30 percent of median income that was once thought to constitute an “affordable” housing cost in America.

The average 30-year fixed-rate mortgage is around seven percent, and despite promises that rates will soon go down, it does not appear that this will realistically happen anytime soon unless the country wants to see massive hyperinflation.

What are today’s young people supposed to do? Not much other than slave away in vain while those with all the assets continue adding to their stockpiles. Welcome to third-world America, compliments of Wall Street and the private central banking cartel known as the Federal Reserve.

America is done

Whenever the system finds itself in a financial bind, the powers that be typically flood the market with more cash. This creates an inflationary trend that benefits Wall Street but not Main Street, the latter being the bread and butter of what makes up a true economy.

The economy of America today is fake in that it is mostly just paper “money” circulating around that creates an illusion of value and wealth. When you pull back the curtain, you find that many Americans are up to their eyeballs in debt, and even corporate America is seeing major delinquencies at an ever-increasing rate.

Try as they might to keep the stock market propped up and always-climbing, in today’s climate primarily with just one big stock, Nvidia, the truth is that the emperor has no clothes. The American empire is dying, which is why the war drums are beating louder and louder all around the world.

To even be able to afford just a modestly-priced, average-sized home in America today, one must make at least $106,000 per year. Back in 2020, that figure was just $59,000 per year.

And how about fast food? The overrated burger chain Five Guys now charges more than $20 for a meager burger, fries and drink. This, despite continued claims from Washington that things are looking on the up and up.

February 2024 marked the worst February for layoffs since Challenger, Gray & Christmas first started keeping records. This is a sign that the labor market is deteriorating as well amid rising inflation and interest rates.

Challenger, Gray & Christmas found that companies planned a whopping 84,638 job cuts in February, a three percent increase from the month prior and a nine percent increase from the same time last year.

“It marked the highest layoff total for the month of February in data going back to 2009,” one report explains.

It turns out that even college-degreed young people with strong drive and motivation are unable to find any kind of viable position to start a life. This as rent prices soar, leaving them jobless, homeless and ultimately hopeless.

What does the next generation of Americans have to look forward to? Not much. Poverty, joblessness, homelessness, and apparently bug-eating are the only thing on the menu for them. So much for being the land of opportunity.

The American economy is running on fumes. Find out more at Collapse.news.

Sources for this article include:

• ActivistPost.com
• NaturalNews.com

The National Institute on Retirement Security wrote in a report that Generation X was the first generation to enter the labor market following the shift from defined benefit pension plans to 401(k)-style defined contribution accounts.

Author of the report and NIRS research director, Tyler Bond, wrote in a statement, “When looking at median retirement savings levels for Generation X, report finds that the bottom half of earners have only a few thousand dollars saved for retirement, and the typical household has only $40,000 in retirement savings.” Shockingly, the study found approximately 40% of the generation have saved not even a single cent towards retirement.

The report relies upon data from the Survey of Income and Program Participation. This nationally representative survey provides income, employment, household composition, and government program participation data. Here are more key findings from the report:

• Slightly more than half (55%) of Gen Xers are participating in an employer-sponsored retirement savings plan.
• Most Gen Xers, regardless of race, gender, marital status, or income, are failing to meet retirement savings targets.

“Most Gen-Xers don’t have a pension plan, they’ve lived through multiple economic crises, wages aren’t keeping up with inflation and costs are rising. The American Dream of retirement is going to be a nightmare for too many Gen-Xers,” NIRS Executive Director Dan Doonan told CBS News.

In June, we cited a separate study that called Generation X, the “Broke Generation,” after a whopping 64% of respondents said they quit saving for retirement not because they didn’t want to but couldn’t afford to.

As for millennials…

Is the American Dream dead? pic.twitter.com/fA8PTCwKos

— Chairman (@WSBChairman) July 16, 2023

Article cross-posted from Zero Hedge.