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GDP report reveals ominous Great Depression warning sign not seen since 1932 - Fox Business
Jan 26, 2023 39 secs
The most troubling information in the GDP report is the precipitous drop in real disposable income, which fell over $1 trillion in 2022.

For context, this is the second-largest percentage drop in real disposable income ever, behind only 1932, the worst year of the Great Depression.

The average family has lost about$6,000 in annual purchasing power under Biden because prices have risen so much faster than wages.

Someone trying to buy a median priced home today will have a monthly mortgage payment that is 80 percent higher than when Biden took office.

Instead, we need to follow the winning formula laid out by President Ronald Reagan and Fed Chair Paul Volcker, which brought the economy back from stagflation.

Reagan scaled back government while Volcker stopped the monetary manipulation and allowed interest rates to seek their natural level.

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