Unemployment claims surged this week, suggesting the economy, and the jobs market, is weakening. The question is: Will growth slow, or is the economy about to fall off a cliff? Will there be a soft landing or a recession?
Americans continue to give President Biden low marks on the economy, despite incessant assurances from the White House that things are going great. Ongoing inflation, high interest rates, unaffordable housing and a softening jobs market seem more persuasive than a stock market fueled by AI enthusiasm and the president’s misleading claims that he has “created” millions of jobs.
The reality is, the U.S. economy is being supported by three shaky pillars: over-the-top government spending, an overly concentrated stock market and unprecedented illegal immigration. The result is flagging growth, volatile stocks, declining…
