Americans Look for Inflation-Proof Investments as Financial Situations Deteriorate Ahead of Mid-Term Elections

It seems that every day continues to bring more bad news about the future of the economy and the state of Americans’ financial health. With inflation remaining elevated, and the Fed continuing to tighten monetary policy, Americans are caught between a rock and a hard place. The coming recession could end up making 2008 look like a breeze.

It shouldn’t be much of a surprise, then, that more and more Americans are taking steps to shore up their financial health. Many are looking to buy gold in order to protect their hard-earned wealth. They know what’s coming, and they don’t like it.

The U.S. economy is driven by consumer spending, and that spending is beginning to falter. Retailers are sitting on massive levels of inventory as consumers are staying home and keeping their wallets closed. Household spending expectations are falling, as more Americans expect to have to pinch pennies in order to make ends meet.

This doesn’t bode well either for households or for businesses, and the coming months could end up being trying ones.