Posted on 01/05/2024 11:21:51 AM PST by Kaiser8408a
Jackson Browne said it best. The US economy is “running on empty.”
M2 Money growth is negative. And M2 Money growth has been negative for the last year.
The third and largest round of fiscal stimulus was in March of 2021. That’s when Biden’s popularity peaked at 55.1 percent.
Base image from 588 Biden Approval Ratings.
Why Biden’s Approval Rating Is Miserable Income is rising and so are wages. Even real income is up. But real wages are another matter.
Personal income data from the BEA, hourly wages from the BLS, real hourly earnings and chart by Mish.
Rental income is a part of other sources.
Three Rounds of Fiscal Stimulus Round 1, March 2020: $1,200 per income tax filer, $500 per child(CARES Act) – Trump Round 2, December 2020: $600 per income tax filer, $600 per child (Consolidated Appropriations Act, 2021) – Trump Round 3, March 2021: $1,400 per income tax filer, $1,400 per child (American Rescue Plan Act) – Biden The three rounds of free money fiscal stimulus (literally a helicopter drop), plus eviction moratoriums put an unprecedented amount of money in people’s hands. In addition, unemployment insurance paid people more to not work than they received working.
The third round of stimulus under Biden was totally unwarranted. However, it is also worth noting that Trump wanted a much bigger second stimulus package than the Republican Congress gave him. Trump is no fiscal hero.
Biden keeps telling people what a great job he has done.
I don’t believe it and most don’t either. And that shows up in the polls no matter what reason you assign.
Can Biden scrounge up some more stimulus? Because the private sector is not doing well under “Open Borders Biden.”
(Excerpt) Read more at confoundedinterest.net ...
Covid grants put a ton of money into the economy, and those funds are being used up.
The official inflation rate are gamed for politics and not anywhere near the real numbers. Everyone is falling behind.
bkmk / bfl
The one thing my wife and I personally have going for us is that though we live on social security, we’re in a very low cost part of the country, kentucky. This means that our increase in social security every year is actually more than our increase in cost of living. At least that’s the way it’s been so far. We’ll see how long that lasts.
All of this bearishness is making me bullish. In a typical cycle next up will usually the “it’s all fake” period, always a important sentiment marker.
This should have been happening in late 2009.
bush, fubo, President Trump, and biteme are all responsible.
But, unlike the first 3, biteme planned on bankrupting the USA.
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