In a further sign that the economy is in worse shape than most Americans have seen in their lifetimes, toymaking giant Hasbro has laid off 20% of its workforce just two weeks before Christmas. Despite all the federal government’s lies about how “Bidenomics” is working, it’s not. The reason why Hasbro has been forced to cut so much of its workforce is that many Americans can no longer afford to buy toys and games for their kids this Christmas.
If you watch any press conference from the unelected liars in charge of the White House these days, you’d get the impression that everything is going great—so long as you don’t believe your lying eyes. The Biden regime tells us that US consumers are strong. That’s simply a lie. Every American household has lost between $11,000 and $13,000 per year because of inflation. Many things at the grocery store are now 40% higher than they were when Donald Trump left office. Gasoline and diesel are about twice as high.
That statistic alone makes it understandable when you learn that low-income Americans are simply foregoing toys for their kids this Christmas.
The Biden liars also claim that holiday spending this year has been fantastic. That is also a lie. Online sales are up, that’s true. But the foot traffic that accounts for the vast majority of holiday sales declined year-over-year again. People just aren’t buying like they used to before Biden destroyed the amazing Trump economy.
The White House even says that spending is strong—but is it? For the first time since economic records have been kept by the federal government, more than 60% of Americans are now living paycheck-to-paycheck. They’re not making enough to put anything aside in savings. Many are spending their savings or retirement accounts on essentials like groceries and gas. Or worse, they’re putting essentials like groceries on credit cards at 29% interest.
So no, consumers are not strong, holiday spending has not been fantastic, and overall spending is not strong. Many parents this year don’t have presents to put under the Christmas tree (if they even have a tree) because Joe Biden and his handlers suck so incredibly bad at running the country.
Toy and game sales have been down for Hasbro all year long. When that slump continued through Black Friday and the beginning of the holiday shopping season, the losses were just too high. This should be the time of year when Hasbro is making up for any shortfalls earlier in the year, but instead, 1,100 people just got fired two weeks before Christmas. Hasbro sales have now slumped for four consecutive fiscal quarters. The company hopes to shed about $100 million in costs by firing 20% of its workforce over the next months.
One of the saddest figures of all from the Hasbro sales data over the past year is that low-income families are underperforming by far more than the company expected. The poorest Americans are simply unable to buy toys or games for their children this year. It makes you shudder to think what could happen to our country if the Democrats manage to steal the 2024 election. It’s especially infuriating when you realize that this was the plan all along.
The Democrats want widespread misery, so that as many people as possible will be dependent on government programs to survive. It’s working. We went from record American prosperity just three years ago to record numbers of families on food stamps. It’s great that we have the chance to vote these jerks out of office next year. The bad news is that many Americans might not make it that long, as we’re all inching closer to poverty every day.
