China’s Economy Burdened By Surge Of Debt

In states along the nations eastern and western coastlines, the season is usually a period of lively activity along coastal towns and serves as a serious revenue generator for many communities. While the fall season is also a cause for joviality, the current state of affairs in the domestic atmosphere of the United States unfortunately does not permit many Americans to entertain real leisurely activity in a wholly lighthearted manner. The national economy continues to remain volatile, with inflation crippling the already shrinking middle class. Internationally, the feckless leadership of Joe Biden has proven to be no better on the global level than at home, and threatening powers like Russia and China appear to form a new axis of alliance in opposition to the western world. Ultimately, on every front, future prospects of life in America is increasingly worrisome for most citizens. As the middle class continues to struggle, Costco’s Chief Financial Officer Richard Galanti stated that he believes that membership fees at the wholesale retailer may inevitably increase. Membership fees for Costco have not increased in years, and the last time one was witnessed was in 2017. In a pattern, membership rates have historically increased around every five and a half years.

Costco has attempted to “crack down” on individuals using other people’s membership cards to shop at their stores even though they themselves did not purchase a membership. Recently, Angelo Castillo of San Mateo, California, claimed on Tik Tok that his own mother was “banned” from Costco after using his fathers (or her husbands) membership card to shop at the store without him being present. Supposedly, the membership only allowed two authorized users, and his father made him the second authorized individual while away at college.

One nation struggling with debt is China. The rival superpower of the United States has struggled due to a burgeoning debt, which increased by 13% last year. The economy globally is poor.