I can agree although I was referring to it in a much more historical tune
Posted on 12/13/2023 8:46:19 PM PST by SeekAndFind
For months, the Biden administration, along with the mostly-compliant media, have been saying that inflation is now under control; they’ve been bragging that wages are now outpacing inflation, and they don’t understand why ordinary people aren’t praising Biden’s economic policies.
If wages are outpacing inflation, then why don’t people have money left over after paying their bills? From CNBC just a few weeks ago:
As of October, 60% of adults said they are living paycheck to paycheck, according to a new LendingClub report. The figure is unchanged from last year.
And why are certain debts, especially those for credit cards, breaking debt records? From Investopedia last week:
Revolving debt, mainly credit cards, rose $2.9 billion to a new record high at $1.3 trillion in October.
Consumers have increasingly relied on credit cards to support spending as inflation squeezes household budgets.
If wages are outpacing inflation, why is the savings rate so low? Also from CNBC:
The personal savings rate — how much people save as a percentage of their disposable income — was 3.9% in August, well below a decadeslong average of roughly 8.9%, according to the latest data from the U.S. Bureau of Economic Analysis.
Why are delinquencies on auto loans surging?
The recent surge in delinquency rates on auto loans in the United States has raised concerns about the financial challenges faced by car owners.
(Excerpt) Read more at americanthinker.com ...
No, certainly not.
In fact we have been borrowing and spending like Drunken Sailors.
I saw this happening and was concerned during the last administration, and then it got worse than I thought it could.
The piper will be paid one way or another, I dont know when but I am not extremely optimistic for next year or the 10 years after that.
but I should not give anything even kinda like investment advice cause I try to be logical and the markets are not.
They even coined a new term for it: “Doom Spending”.
No, it is mostly ahead of us.
The all Left all the time media harms the country again.
Like the old Pravda there will be puff pieces, lofty praise, tear jerking stories of people now on the road to financial success due to Biden and the Dem policies and “Ten Ways You Are Better Off Now Than Under Trump.”
RE: Delinquencies on auto loans going up....
Then wait for public transportation, silly people. Stand outside with groceries in 5 degrees in Michigan or 105 degrees in Arizona. If you don’t get mugged or raped to you carry the stuff home.
I once read a book called “Collapse” by Orlov
but I am sure he is wrong and it will be all good since we are in the hands of the smartest bankers and politicians in all of history.
Besides I read a study today which showed people with normalcy bias live longer.
It is no surprise that it is dropping fast - since we're quickly heading the way of China and Europe into a deep and long-lasting recession.
We never had monetary inflation, as it relates to the global reliance on US dollar for trade. In fact, there's been a massive shortage.
The equities market has turned into a Wall Street casino. The bond and currency markets aren't participating in the "joy" - and neither is the rest of the world.
The retail equities investor is going to get very hurt going forward.
I think we should not use the term “drunken sailor”. A drunken sailor on liberty call is famous for spending his entire paycheck, then maybe bumming a few extra beers or heading back to base to sleep.
An E-4 earns around 2500 a month. For the analogy to work, this sailor would need to be racking up an additional 2000 a month on credit cards, to an existing credit card balance of 250k.
If only DC had the structural spending limits of a drunken sailor.
Years of 6%+ inflation doesn’t heal overnight, so no, it’s not behind us.
I can agree although I was referring to it in a much more historical tune
The U.S. dollar is still the reserve currency so we’re getting away with inflation for now.
Domestic oil production has saved Biden’s bacon. Ironically, he can thank Obama for helping to spur private land fracking via restraints on public drilling.
No.
The people who lost 25-30% of the value of their life savings in the past few years are not getting that back, ever.
So no it is not over.
in an inflationary environment it does not pay to save fiat, but most people do not realize that until to late
It’s time to buy a wheelbarrow for carrying around some “walking around” money.
Just getting on started.
What advice do you have for the future for people with money to invest (or at least protect)
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