New data reveals a crash not seen since Great Depression could hit in 2024

foxbusiness.com:

Crossmark CIO Bob Doll joins ‘Mornings with Maria’ to discuss a number of investment topics including slowing Treasury yields and the Federal Reserve's inflation fight.

As the White House continues to tout the alleged achievements of the president’s «Bidenomics» agenda, a growing amount of data indicates that a gigantic economic crisis could be right around the corner. 

Most disturbingly, one important economic indicator that’s currently flashing hasn’t appeared since the 1930s, during the height of the Great Depression.

If the White House and Congress do not cut inflation-causing government spending soon, the results could be catastrophic.

President Biden speaks about inflation in the Roosevelt Room of the White House, Dec 13, 2022. (Drew Angerer / Getty Images)

In 2020, during the height of the coronavirus government lockdowns, President Donald Trump and the Democratic-led Congress spent vast amounts of money to keep the economy, financial system and stock market afloat. Trillions of dollars in additional government spending occurred, all of which was financed with debt and money printing.

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The never-before-seen levels of money creation were fueled by policies set by the Federal Reserve, which encouraged Congress to spend more money and kept interest rates extremely low, despite warnings from economists about the threat of future inflation.

When President Biden entered the White House in January 2021, it appeared that the economic crisis caused by the pandemic lockdowns would end soon. A COVID-19 vaccine had been developed, and many states had already started re-opening or preparing to re-open their economies.

'Varney & Co.' host Stuart Varney argues