Donald Trump is looking to serve a successful second term.
But there could be choppy waters ahead.
And a Fox News star found one bad omen for Donald Trump.
As Great American Digest reports:
President Trump won a landslide re-election victory because 70 percent of Americans thought the country was on the wrong track under Joe Biden.
The inflation crisis that Biden started by pumping trillions of dollars in socialist spending into the economy in 2021 and 2022 set off the worst inflation since the 1970s.
Fox News business analyst Charles Payne told host Maria Bartiromo that Joe Biden left behind a dumpster fire of economy and the bill would come due on Trump’s watch.
Payne told Bartiromo that just 10 percent of Americans accounting for 50 percent of the consumption meant the economy was in choppy waters as the other 90 percent of the country pulled back their spending thinking the country was already in a recession.
“Right now with just 10% of the population buying 50% of the goods and all of the so-called excess cash. Long gone from the bottom, you know, 75% of this country, most people are already in a recession. Most people have been in a recession. And when I went to the polls in November, they were in a recession,” Payne stated.
Payne is correct about how, when he voted, Americans thought the economy was in the tank as an August 2024 Affirm survey found 59 percent of Americans thought the country was in a recession.
Prices shot up over 20 percent during Joe Biden’s four years, making the cost of living unaffordable for all but the wealthiest Americans.
Payne also explained that all the metrics the media and Democrats used to claim the economy was healthy were fake.
Biden and the media pointed to the U3 unemployment rate – which only measures people unemployed and currently looking for work – to claim the economy was on stead footing.
But Payne the real measure of unemployment was the U6 number – which measured people unemployed, those who stopped looking for work, those who want full time work but can only find a part time job – painted a far different picture as it sat at 7.4 percent in November 2024.
“The GDP number that do you why do we even talk about U3 when we should be looking at the U6 employment number? Almost everything that we use to measure our economy is so way off that there’s a massive disconnect between Wall Street economists and Main Street, and that’s why you get the things that we got in November,” Payne continued.
Payne predicted a recession would soon hit the economy but that it was the remnants of the Joe Biden disaster and could no way be attributed to Donald Trump.