Most economists, bankers, investors thought that the US Economy would be in a strong growth trend in 2024-2025.
We saw millions of workers going back to work, 75% of Americans were immunized and some of the thousands of businesses, that had closed or cut back, seemed to be hiring again.
But then a few things happened:
- The Federal Reserve repeatedly raised interest rates.
- Budget deficits seemed to continue to increase.
- Israel was attacked by terrorists from Gaza, and then Israel declared war in response
- The USA told Israel that huge financial movement of US funds for Israel would be sent to Israel
- With all of that, it seemed that the USA would face another impasse getting the national budget approved because a small group of radical right wing Republicans announced they would block approving new debt and spending by the USA.
- Israel's huge military war upon Gaza, put more pressure on the USA budget because financial promises of aid Ukraine plus new aid to Israel from the USA led to projected higher budget demands of the USA. Republicans used this to try to force the USA to cut back on on Democratic programs of social aid to consumers in the USA.
- Biden may have been manipulated as an emotional cry from Israel, but some believed his administration was not taking full consideration to Israel's massive and sometimes outrageous bombing and invasion of Gaza caused a negative public response. The massive killing and destruction by Israel, even bombing of hospitals, plus impression of indiscriminate over use of mass bombings, killing thousands and destroying civilian buildings and thousands of death of innocent civilians brought world wide protests. Biden worked hard to get Americans that were captive released and to influence Israel to be more moderate, were a "hard sell" of little changes of Israeli military aggression.
- Hints of economic slowdowns, around the world have hit the international press.
Could Israel's"overkill be creating a global backlash as overdoing the bombing, killing and wide spread destruction in the battle aimed at Gaza's military? It appears that people throughout the world are critical of the massive destruction and deaths of civilians by Israel's army may be a public relations disaster for Israel. The USA and President Biden have repeatedly called upon Israel to be more moderate and asking Israel to moderate their war extremism. To call for more "peace" incentives, and less deadly destruction. But hard right wing extremists in Israel hammer a "drumbeat of more military action in Gaza". This is a sad time for people of peace. Biden and his envoys have worked hard to influence Israel to more peaceful policies, but the genie is out of the box.
Ukraine still continues to battle Russia, to protect their nation of Ukraine from Russian efforts to overrun Ukraine. Sadly all peace lovers around the world call for peace, for release of hostages, and somehow rescue the innocent victims, and to deal with the hospitals that have been devastated in Gaza. Another factor that millions of people around the world do not understand. Iran, an educated and peaceful population has aggressively persecuted its female population for not wearing veils. Estimated 700 female youth have been arrested, some have died in Iran because of enforced ment of dress codes and punishing, often killing youth in Iran. Where are the leaders in Iran who will stand up to the "police and enforcers with guns, but no judgement in Iran". We also worry about the weapons Iran is manufacturing for Russia to attack people in its war upon Ukraine. Iranians in a vast majority are peace loving people. But the nation appears to be dominated by the "Bearded wonders" as religious leaders, and the "government enforcers" who kill people in Iran at will. Russia, North Korea, Iran and a few smaller trouble makers are creating violence and unrest around the world.
We are so happy that the USA is not engaging in new wars or leading in violence. Sadly Russia, N. Korea and Iran are creating warlike actions that lead to deadly violence being exported by Russia, North Korea, Iran and other purveyors, of war and social chaos around the world.
On the other hand, while wars and conflict create destruction, the United States is not directly engaged in war, and the nation is stable, and even prospering, in peace and stability.
We encourage and support people of Ukraine