It is no secret the financial state of the US is in turmoil thanks to Biden and his administration.
The direct impact on the consumer is obvious every time we go to the grocery store and see that a loaf of bread has gone up in price.
As concerned citizens, we vote, work hard, and hope our representatives have our best interests at heart – but according to Jeff Bezos, there’s one more thing we should be doing.
In a gloom-and-doom interview on CNN, Jeff Bezos, founder of Amazon, foretold of a shocking US recession.
The billionaire stated:
“The economy does not look great right now. Things are slowing down, you’re seeing layoffs in many, many sectors of the economy. The probabilities say if we’re not in a recession right now, we’re likely to be in one very soon.”
How does he recommend we combat this looming recession?
By not buying “big-ticket” items – such as TVs, refrigerators, and cars.
The news made a big impact on viewers seeming it came from one of the biggest consumer supply companies in the world.
In addition to closing your wallet for personal purchases, Bezos told CNN that small businesses should hold off on any investments in new equipment and stockpile cash instead.
Any purchases outside of necessity are considered risky business according to Bezos.
He continued in his interview:
“Take as much risk off the table as you can. Hope for the best but prepare for the worst.”
The interview comments coincide with a recent tweet by Bezos in response to Goldman Sachs CEO David Solomon.
He tweeted:
“Yep, the probabilities in this economy tell you to batten down the hatches.”
Amazon’s new CEO as of last summer, Andy Jassy, has been preparing the mega company for recession himself by cutting costs, slowing spending, and not employing excess positions within the company, according to Business Insider.
The Federal Reserve’s battle against inflation has been a moot point after towering to a 40-year-high of 9.1% in June and remained at 7.7% in October, according to Business Insider.
Of course, the government is hoping to curb inflation by taking more money from Americans with rising interest rates, but Biden doesn’t have to look any further than the mirror to find the faults.
Between the current President sending hard-earned taxpayer dollars internationally to fund drag queen performances, to spending millions in effort to continue killing unborn children, it’s no wonder we have a money issue.
Spending responsibly should always be the goal – but if Bezos wants us to cancel our Amazon Prime accounts, then things are definitely about to get serious.
Use your own discretion as to whether you should buy canned foods in bulk for the next 6 months – but hide your wallet if you have a hard time saying no to another pair of boots (even if they are really cute).