The White House says we're not headed for a recession!
Americans’ ability to pay bills on time fell for the first time in 5 years. Only a third of Americans are currently financially healthy and Mitch Kramer of Fluent Financial disagrees with the White House. "We're in a recession now. It may not feel like one since the unemployment rate is low --- but that will increase over time." Kramer gives some reasons behind our current financial state. "The unwinding from the Covid Lockdown, supply chain Interruption, and the massive spending by Joe Biden and Democrats - specifically the 'American Rescue Plan' at $1.9 trillion!" He also says inflation and the Ukraine situation are partly responsible for this recession as well.
We Have a Full Employment Recession
For those nearing retirement, Kramer has this investment advice. "Those of you who are within 5-19 years from retirement, just wait and the market will rebound. Also - it may be a good time to make some Roth Conversions while the market is down."
For registered voters, Kramer is strongly in favor of voting out democrats in November.
photo: GettyImages
Mitch Kramer says we're at the beginning of a recession.