TikToker Trevor Abney (@itstrevorabney) uploaded a viral video clip that touches upon a horrifying reality many Americans are facing: inflation spikes that just won't quit, rendering the value of their money less and less with each passing day.
He cited several examples of how basic cost-of-living services like rent, utilities, groceries, and car insurance have skyrocketed in just four years, and several other TikTokers seem to be as fed up as he is with the country's current leadership's failure to fix the economy, despite its claims to do just that.
"Why is everything so d--- expensive?! Four years ago, my rent was $1,200 a month at a luxury apartment complex. It is now $2,100 not even including utilities! I went to the grocery store yesterday, right? And got three bags of chips, some ground turkey, and some vegetables. And it was $67!"
He continued to scream into the camera: "What?! My car insurance from four years ago until now with no tickets, no wrecks...nothing on my driver's record has gone from $130 to $240 per month! Three years ago my electric bill was averaging $45 now it's averaging $125! You go and get a tank of gas once a week and you're dropping $70!"
"I mean a guy can't even buy a can of dip for less than $8. $8 for a can of dip?! What the f--- is going on!" he asked into the camera.
Trevor isn't the only person who's ranted on social media against the abysmal state of global inflation that families across the world are struggling with.
The US inflation rate hit a 40-year-high in June of 2022, and the cost of living expenses in the. Countless Americans have been complaining on social media about the lack of affordable housing, and their concern is backed up by data: it was officially easier in The Great Depression than it is today for the average American to purchase a home.
The worst part is that workers' salaries, unfortunately, aren't keeping up with the rate of inflation, they say, leaving many Americans in the lurch when it comes to affording basic necessities such as utilities, rent/mortgages, and food.
In an October, 2023 piece published by Barron's, 65% of Americans say that they are living paycheck to paycheck. Bankrate also wrote that 22% of folks in the country have zero emergency savings whatsoever, leaving folks scrambling for new employment opportunities the second they are laid off.
What's even more troubling is the number of Americans who are working side hustles in order to make ends meet or have any type of savings at all. CNBC writes that 44% of employees have taken additional jobs to keep up with the worsening economy and the US government's failure to stabilize it.
So why is inflation becoming such a big problem? Some argue that the tomfoolery occurring with the economy at this juncture is a concentrated effort by the government-powers-that-be to get penalize Americans for the stimulus checks they received from their own tax dollars.
Suspicions of the Federal Bank caught in yet another purported scandal aside, there are outlets who've questioned the efficacy of Stimulus money/checks in general, with some, like ABC News asking if the government's decision to hand them out were a mistake in the first place.
However, it does appear that some of the onus of America's current inflation rate is being blamed, at least partially, on the COVID-19 pandemic, and the government's decision to implement stay-at-home and social distancing mandates (the latter of which Dr. Anthony Fauci admitted on the record wasn't based in any factual scientific data) in response to the fervor fomented around the disease.
Yahoo! did write that while the Fed did say stimulus checks may've worsened inflation, that the problem could've been a lot worse had they not been issued, putting Americans in a real catch .22.
Commenters who responded to Trevor's video seem to sympathize with his anger, with multiple people remarking how their money just didn't seem to go as far these days.
"Wages don’t keep up with inflation," one person wrote.
"$20 is the new $5," someone else said, while another wrote: "$1000 is the new 100$."
One person also commented on the inequity of salary increases in the wake of inflation hikes: "And we got a $.50 pay increase to help with inflation"
Overall, it didn't seem like folks had much faith in the Government's ability to stabilize or manage the economy, either: "Don’t worry the government says inflation is only at 4% not 200% so we’re good"
How are things going for you? Do you feel like things are getting prohibitively expensive? Or do you think that consumers just need to find newer ways of being financially savvy?