Bidenomics Is Working? Economic Outlook Index Plunges To Record Low In IBD/TIPP Poll (Net Savings As % Of Gross National Income Negative For 2nd Straight Quarter)

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As Biden sleeps through the Hamas invasion of Israel, that is nothing new. Biden is sleeping through a disastrous downturn in the economy and pretending that Bidenomics is working. It isn’t Joe!

The IBD/TIPP U.S. Economic Optimism Index sank to a 12-year low in October as confidence in the near-term economic outlook crashed to the lowest level in the poll’s history. The survey casts doubt on the Federal Reserve’s justification for turning more hawkish last month: robust consumer spending.

The overall IBD/TIPP U.S. Economic Optimism Index dived 6.9 points to 36.3, the lowest since August 2011. Readings below the neutral 50 level reflect pessimism. The 6-month economic outlook index cratered 9.6 points to 28.7, a record low since the IBD/TIPP Poll began in early 2001.

That means the outlook suddenly appears worse than it was at the depths of the dot-com crash, the great financial crisis and the coronavirus pandemic.

And on the personal savings front, net savings as a percentage of gross national income was negative for the second straight quarter.

Sleepy Joe, wake up! The US economy is slowing down REALLY fast!

Published by confoundedinterest17

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