Much like Australia, the US appeared to flourish financially during the pandemic. But now their economic reality is showing – and it isn’t pretty.
As we collectively rung in the 2020 New Year, we had no idea we would soon experience a life-altering series of events, which would divide our lives into two separate eras: before the pandemic and the pandemic.
In the world of economics and even everyday household budgets, a similar transformative event has occurred.
Whatever trend the economy or wages may have been on prior to the pandemic has been irreversibly altered, replaced by something new amidst the whirlwind of lockdowns and government stimulus measures.
The divided states of economic outcomes
In the United States, trillions of dollars in government stimulus and enormous intervention in markets by the Federal Reserve has created two very different recoveries for the American people.
In one, much of the middle class and poorer…