Posted on 06/09/2024 7:55:41 AM PDT by Kaiser8408a
Under Bidenomics and Fed monetary “policies”, we now have the wreck of the US middle class.
To begin with, America’s paychecks are bigger than 40 years ago, but purchasing power of those larger paychecks is about the sames as it was 40 years ago. Great job Washington DC!!! … NOT!!!!
Meanwhile, credit card delinquencies are at the highest level since 1991.
Americans are feeling extreme financial stress.
Coping with Bidennomics and The Fed has been most difficult. Especially if you listened to Biden’s D-Day speech (almost stolen word-for-word from a Ronald Reagan speech).
Demented Joe Biden being led by the hand by his money-grubbing wife. “Joe, you will be here soon!”
(Excerpt) Read more at confoundedinterest.net ...
“... credit card delinquencies are at the highest level since 1991.”
This doesn’t surprise me. With essentially no change in lifestyle, I’ve notice that my monthly credit card bills are approximately double what they were 5 years ago. This is due to approximate doubling of the costs of gasoline, groceries, health insurance, auto insurance and similar other expenses that are not easy to trim. It’s possible of course to reduce or completely stop making discretionary purchases of things like clothing, consumer electronics, vacations, new appliances, etc., and I suspect you’ll see a lot that happening soon. Recession, here we come.
40 years ago your purchasing power also included actually owning the thing purchased, being able to fix it yourself, and after 40 years being able to sell it, still functioning, to somebody else.
Sort of like knowing you have a terminal illness. Might live for several more months or maybe if your lucky a couple more years.
And we are faced with the economist's efforts to manipulate inflation through such measures as hedonic adjustments and horizontal substitution [e.g. yeah your computer costs more, but it has all these neat new features - bloatware that doesn't actually provide any economic benefit] or well you can eat bugs for the same cost that steak used to be so there is no inflation in protein intake expenditure.
Fixed pension income that appeared of at least a little value in retirement cannot go as far as planned. Retirees who are able are working again because they have to.
Fellow Freepers, take your next credit card bill and look on the back for the interest rate. 30% APR. That is why defaults are up.
LIVE: President Donald J. Trump Holds a Rally in Las Vegas, NV - 6/9/24
https://rumble.com/v4zbjjl-live-president-donald-j.-trump-holds-a-rally-in-las-vegas-nv-6924.html
Deep State’s annihilation of the middle class continues apace.
LIVE: President Donald J. Trump Holds a Rally in Las Vegas, NV - 6/9/24
https://rumble.com/v4zbjjl-live-president-donald-j.-trump-holds-a-rally-in-las-vegas-nv-6924.html
Its been going on for generations not just under Biden, although he accelerated it.
Trump was reversing it so that is another reason why he had to go.
A 3% inflation rate results in your purchasing power being cut in half every 20 years.
so over 40 years.. it would be cut in half and then have again.
so if you were making $100,000 40 years ago.. 20 years ago that would be cut to $50,000 and now would only be $25,000 worth of purchasing power.
the numbers here are a little off, because if you are not making 4 TIMES what you were 40 years ago, you are actually making less.
It was the free traitors who got us into this mess. Many Republicans and Democrats including Biden supported MFN for China, telling us about the benefits to the consumer. Many Freepers also supported those trade deals, making arguments like "Why should I care where my products are made as long as I'm getting the best deal?"
And what did we get in return for sending our manufacturing, technology, money, and tax base to China? China has built up their infrastructure and military with our money, while our infrastructure is crumbling and we couldn't even pay the interest on our loans without raising the debt ceiling.
We chose communist slave labor over our own Vets, and now we have a major homeless Vet and Vet suicide problem. What a way to thank them for their service. "Well, I appreciate your service and sacrifice, but I can get that communist made widget for $.05 less, so good luck finding another job."
What's worse, we chose communist slave labor over our own kids' futures. Now, our kids are unable to pay back their student loans and are being bailed out with our tax dollars. We sit behind our communist made computers and groan about having to bail them out, but maybe they would be holding down high paying jobs and paying back those loans if we hadn't offshored the tech jobs that many of them trained for. And then we can't figure out why they're angry about everything and rioting all over the place, but what did we think was going to happen?
And why did we do all of this? To make our products more affordable? How is that working out?
I know not all Freepers were free traitors, but far too many were. I guess having Clinton, Gore, and Biden come down on the side of the trade deals wasn't enough to tell them it was a bad idea.
BS ur chasing power is the
Same. Absolute bs
Money Changers and Government just doing what Money Changers and Government doing what they do, nothing to see...
I just bought two bars of Aluminum. 480% higher than pre Chomo Joe policies. AND a new “energy surcharge of 10%.
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