by Michael Snyder
The Economic Collapse Blog
How much longer will the Biden administration and the mainstream media continue to deny that we are in the midst of a very painful economic downturn? Debt levels have never been higher, delinquency rates are spiking, the commercial real estate market is crashing, the banking industry is mired in turmoil and large companies are conducting mass layoffs all over the nation. Anyone that attempts to claim that the U.S. economy is in good shape is just being delusional. Unfortunately, it is those that are at the bottom of the economic food chain that are being hurt the most.
If you want to know what is really going on with the economy, pawn shops are a great place to look.
When the economy is doing well, pawn shop inventories tend to go down because people aren’t pawning much stuff and there is lots of buying going on.