Daily reports of impending financial doom for the American economy over the last 2 years have convinced most of us that a recession is imminent.  Most economists believe 2024 will be a down year and an American recession is almost here.

Last week, it was reported that past-due property loans at Wells Fargo rose more than 50% in the third quarter of 2023.  They reported more than $3.4 billion is past-due accounts compared to $400 million the previous year.  Also, Americans hold the most debt on personal items ever, at $17 trillion.  Real income has been shrinking just as American’s savings accounts.

Whether the technical term and definition of a recession is ever achieved we still have lived through the highest inflation in forty years, the highest gas prices in American history and now mortgage rates closing in on 8%.  Bidenomics is destroying middle and class lower-middle-class Americans.  It is taking its toll on fixed-income homes.

How can you protect your financial future during these uncertain times?  Author and financial expert Joe Lombardi joins the conversation on ‘Our Lives & Politics’ to share some ideas you can implement to prepare.  Lombardi’s books include: “Be Your Own Bank” and “There’s a Better Way Than Your 401K.”

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