Part 4/11:
- GDP per capita, a key indicator of economic output per citizen, is shrinking across many nations, foreshadowing potential hardships to come.
Compounding these issues is the looming crisis in Social Security, which risks draining the trust fund by 2033. Unless significant reforms are enacted, beneficiaries may face cuts or increased retirement ages, which could deepen economic strain on retirees.
Consumer Financial Stress: Credit and Savings Crisis
The financial strain is palpable, with credit card delinquencies reaching a 14-year high—around 3.2%. Many consumers are unable to cover even interest payments, signaling distress in household finances.