Some people are running out of money, while others already have. Those who still have financial stability are being cautious. With companies downsizing or shutting down, and job security in question, even the well-off are tightening their belts. I closely follow the economy to understand where things stand. Car sales are down across the board, except for reliable manufacturers like Honda and Toyota. Buyers who are still in the market are choosing quality, leaving those dealerships nearly empty. In contrast, lower-quality brands are sitting on massive inventories, some with a 400- to 500-day supply. Retail sales are another clear indicator, long gone are the aggressive promotions and deep discounts we used to see.
The COVID-19 pandemic was a tragic but historically cyclical event, something that tends to happen roughly once every century. But what came next, the policies imposed by Donald Trump was an avoidable and unnecessary crisis. His actions didn’t just affect the U.S. they sent shockwaves through the global economy. Even if he's rendered politically ineffective after midterm elections, his influence on world affairs will persist. The economic damage done during his time in office won't be quickly undone. Only after he's fully out of the picture will the global economy begin to stabilize, and even then, returning to pre-2020 conditions will take years.