China Sanctions U.S. Companies, House Bans CBDC, National Debt Hits $34.7 Amid Out of Control Deficit Spending

Weekly Recap - Friday, May 24, 2024

The U.S. House of Representatives just passed a bill banning the Federal Reserve from establishing a Central Bank Digital Currency:

- 213 Republicans in favor of the CBDC Anti-Surveillance State Act

- 3 Democrats voted for the bill

- 192 Democrats opposed it

---

The Fed admits that U.S. consumers are growing weaker.

• 52% of US adults could not cover an unexpected bill of at least $2,000 using savings

• 18% could only pay for an expense that's under $100

Moreover, the percentage of borrowers in credit card delinquency has more than doubled in just 10 years:

Additionally, the share of U.S. adults who feel they are doing “okay” financially continues to decline, according to a survey conducted by the Federal Reserve:

---

Stay connected with Lena:

YouTube: https://www.youtube.com/@lenapetrova

Rumble: https://rumble.com/c/LenaPetrova

X (former Twitter): https://x.com/Lena_PetrovaOnX

Telegram: @LenaPetrovaOnTelegram

Locals: https://lenapetrova.locals.com/

---

The housing affordability crisis in the United States continues as mortgage rates remain elevated and home prices have not declined to the pre-pandemic level.

Meanwhile, the number of individuals experiencing homelessness has risen across all states:

You are welcome to watch one of my recent videos with further details:

---

The median US home sale price hits a new record high of $433,558 in April 2024.

---

US national debt hit a new high of $34.7 trillion in May; it’s now on pace to reach $40 trillion by 2025 if the current level of government deficit spending continues.

To put this in perspective, total US debt has increased by $11 trillion, or 47%, in 4 years. Interest expense has become one of the top five biggest expenses annually.

US debt-to-GDP ratio is 124%. CBO estimates the US debt-to-GDP ratio will be 131% in 2034.

Since 1800, 51 out of 52 countries with a ratio above 130% have defaulted.

Yet, the public is presented with an alternative reality:

The main stream media, of course, doesn’t skip a beat and continues to gaslight Americans for stating the obvious, ie. that the U.S. economy is in a recession: