We’re Getting Poorer: The System is Held up by Welfare Warns Top Economist

“If you zoom out through American history, every generation was much richer than their parents… it partly broke starting in around 2000,” according to Peter St Onge, former MBA professor and Ph.D economist. In a conversation with Daniela Cambone, he paints a sobering picture of the ’Bidenomics,’ a term encapsulating the economic challenges facing many Americans today. “If you are frozen on food expenditure, houses are actually going backwards. Life expectancy is going down, which is another gold standard of prosperity. A lot of people, I think, are starting to conclude that we’re certainly not getting twice as rich as our parents anymore,” he asserts. Moreover, St Onge sheds light on the growing burden of household debt in today’s economy. This mounting debt, he argues, further widens the chasm between reality and the optimistic narratives often portrayed in headlines. To gain deeper insights into these economic realities, watch the video and explore St Onge’s analysis. 📰 JO