The deviation of the Investor's Business Daily/TIPP Financial Stress Index from its historic average in July is worse for 33 of the 36 demographic segments we track, demonstrating the severity of the situation. Stress is exacerbated by a new virus strain, pesky inflation, the employer-vax resister debate, tax hike talk, and job insecurity.
Everywhere you look, inflation rears its ugly head. The price of gasoline at the pump has increased by 45% in the last year, while airline fares have increased by 25% and auto insurance by 11%. Every day, Americans discover that their hard-earned money is losing purchasing power. It is a silent tax creep on struggling families.