As a result, U.S. consumers have reached a breaking point.  Delinquency rates are spiking and bankruptcies have risen to a very dangerous level.  I have been hearing from so many people that are struggling to survive in this suffocating economic environment.  It has become increasingly difficult just to pay for the basics, and so many Americans have very little or no discretionary income to spend these days.  If you want evidence that this is having a major economic impact, just consider the fact that 1,000 dollar stores are going to be shut down.  If U.S. consumers were in good shape, that wouldn't be happening.

The economic shift that we have witnessed since the turn of the decade has been nothing short of epic.

According to Zillow, the average monthly mortgage payment for Americans buying a home now is nearly double what it was in January 2020…