Okay, so first up, we’ve got this mountain of debt we’re all dealing with. I mean, you’ve seen how people add to their credit cards, right? And let’s not even get started on student loans… or mortgages. This debt isn’t just a problem for us as individuals, it’s a problem for our economy. When we’re all scrambling to pay down our debts, it’s hard to manage our everyday expenses. And that, my friends, slows down the whole economic engine.

And just when you thought it couldn’t get any worse, here comes the Federal Reserve, marching in with their interest rate hikes. Now, I get it, they’re just trying to keep inflation in check, maintain some price stability, but man, does it sting. Higher borrowing costs? That’s just adding fuel to the fire for households already having a tough time. It’s like being in a sinking boat and someone hands you a bucket… with a big hole in it. It just leads to this nasty cycle of even more debt and financial stress.

TOPICS AND TIMESTAMPS:
Rising Cost of Living 0:00

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