Why Americans Feel Broke in this "Strong" Economy

Hey Satsmate Stackers, I hope you are doing well! It can be seen that gas is remaining elevated, the bond market is uncertain, and the Strait of Hormuz remains closed. This is causing consumers to feel increasingly squeezed, and the numbers show it. The Michigan Consumer Sentiment Index has hit all-time lows over the past couple of months, a strong indicator that people are not doing well. In this podcast, I go over the following: The Michigan consumer sentiment came in the other day, and we now see an all-time low of 47.9This is literally the lowest reading ever recordedSome perspective is Black Monday crash we saw it in the 60s, .com crash 70s-90s, great financial crisis 55-60, and generally in a healthy economy, you see it in the 90s to 100sWith the latest reading being low, something is very wrong, but what is driving this? It is no surprise that the war in Iran and the blockage of the Strait of Hormuz are causing elevated gas pricesBut further, when gas goes up, so does everything it touches. All supply chains or anybody who uses freight. Grocery prices, parts, pretty much everything go upAutomation & AI is making it so that what used to take 3-5 people to do things, now only takes 1 person overseeing AIWeakness in the labor market due to war & uncertaintyWeakness in the labor market due to AI/AutomationFurther, wages haven’t been keeping pace with the general increase in goods and servicesMost consumers don’t have access to the stock market, and while the stock market is hitting all-time highs, many people on the lower end of the K don’t feel like they are getting wealthierIt is key to get exposure to assets, especially as inflation goes upI think the FED has done a god-awful job ensuring that inflation stays below 2%You can make the case they have done an okay job keeping unemployment low, but is having to work 2-3 jobs really a sign of health in the economy? Many people aren’t working these extra jobs to hustle; they are working them because they have to make ends meetPeople are sick of paying over $100 at the pump, and $4.00 for a potato at the grocery storePeople are sick of being forced back to the office, to do something they were doing remotely just finePeople are sick of paying an arm and a leg for daycare, when their work salary barely covers itPeople are overpaying for things that don’t make sense and aren’t of value anymore. So much in our society is a complete rip-off Discussion of what my coworker said the other day about how he's making more than everEveryone is making more, but we all can see through the illusionThe silver lining is that we are cooking at home more, we are becoming more crafty, more measured with our approach to things, and seeking true intrinsic value in thingsIf you like this, feel free to share it, leave a like, or comment. Also, check out the links in the description that help support my channel and podcast.Best Regards, SatsMate StackReferral to Stacker News: Circular economy with bitcoin discussions involved!  https://stacker.news/r/SatsMatePrimary Bitcoin Buys Through Strike: The primary place I go to buy Bitcoin. https://invite.strike.me/2MSTYG Secondary Bitcoin Buys Through Fold: A nice exchange w/ rewards & bitcoin buys.https://use.foldapp.com/r/HTFKVY9Lhttps://zbd.gg/GalmaDuFria This is my personal QR code. It allows anyone to send me Bitcoin and messages directly to my ZEBEDEE. lnurl1dp68gurn8ghj7ctsdyh85etzv4jx2efwd9hj7a3s9aex2ut4v4ehgttnw3shg6tr943ksctjvajhxtmpxuurjcmxxvuz6wf58q6z6drpv5uj6c3jvy6z6epexe3ryd3kxe3kvcnr7y2uzjFinancial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before investing.Send us Fan MailSupport the showYoutube: SatsMateX: SatsMateInstagram: SatsMateswebsite: https://satsmate.wordpress.com/