Posted on 01/08/2024 1:11:22 PM PST by Kaiser8408a
Bidenomics has taken the US economy to the underworld. Where households have to run up credit cards to ridiculous levels to cope with inflation under Bidenomics. Under Bidenomics, food prices are up 20.4%, home prices are up 33.5% and regular gasoline prices are up 28.2%. Whip out those credit cards!!!!!
According to the latest monthly consumer credit report from the Fed, in November, consumer credit exploded higher by $24.75BN, blowing away expectations of a “modest” $9BN increase after the surprisingly subdued $5.8BN (upward revised from $.5.1BN) in October and the $4.3BN average of the past 6 months. This was the biggest monthly increase since last November, and was the first $20BN+ print since Jan 2023.
When looking into the details we find something remarkable: while non-revolving credit rose a modest $4.6BN…
Well, it now appears that Americans have once again done what they do so well: follow in the footsteps of their government and throw all caution to the wind, charging everything they can (and whatever they can’t put on installment plans which also hit a record late last year) including groceries, on their credit card, and praying for the best… or not even bothering to worry about what comes next.
In addition to massive debt to cope with Bidenomics, we now have Soylent Green.
(Excerpt) Read more at confoundedinterest.net ...
Bidenomics is the exact inverse of Reaganomics.
More government spending.
More taxes.
More regulation.
But the Spokesmuppet said that all is well, and that we should remain calm.
Other than that, Xidenskyyyyyy’s ‘conomy is soaring. (According to the Dung Beetles in the “media”.)
This is one way they are making us all poor.
Wealthy, White Democrats hurt the most! Oh, wait...........
Nothing to worry about. They nationalized the banks with the Bank Term Funding Program 3/2023 after the failure of SVB.
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