Facebook 
Twitter 
A new video is making the rounds online…
Saying we’re in a “silent depression” where Americans’ purchasing power is hitting rock bottom.
Meanwhile, CNBC wants to reassure you that “things aren’t so bad.”
But why are then so many Americans struggling to make ends meet?
One of TikTok’s latest trends is coined the “silent depression.”
It aims to compare they key expenses of an average American in 1930 with those of today.
Freddie Smith, a real estate agent in Orlando, recently shared a viral video saying that the average cost of those expenses in 1930 were…
- Average Price of a Home – $3,900
- Average Price of a Car – $600
- Average Monthly Rent – $18 (or $216 a year)
- Average Salary – $1,300
And their average cost in 2023 are…
- Average Price of a Home –$436,000
- Average Price of a Car – $48,000
- Average Monthly Rent – $2,000 ($24k a year)
- Average Salary – $56,000 a year
As he says…
“If you look back to the Great Depression, the house was only three times the average salary. Now it is eight times the average salary. The car was 46% of the salary. The car today is 85% of the salary. And here’s the craziest part — the rent was 16% of the average salary, it is now 42% of the average salary.”
Now let me be crystal clear…
Today is NOTHING like living through the Great Depression.
Cars didn’t have the amenities they have today…
Ditto with homes…
And most importantly, millions of people didn’t have jobs back then.
That being said…
It’s laughable that the mainstream media says “the country is in good shape” and that all is well and dandy today.
The truth of the matter is that the official inflation numbers are NOT what the average American sees in his expenses.
And no matter what the Biden admin or the mainstream media say…
We’ve had MASSIVE price hikes across the board in the past three years.
Meanwhile, wages have not caught up.
That’s the reason why at least half of Americans feel their financial situation is worse than it was November 2020.
Yours in Wealth,
Ian Wyatt