Skip to comments.Hellzapoppin Under Bidenomics! Conforming 30-year Mortgage Rate UP 163.5% YoY (Federal Debt UP 19% Or >$5 Trillion Under Biden While Unfunded Liabilities Are Now At $193 TRILLION)
Posted on 08/19/2023 9:03:25 AM PDT by Kaiser8408a
Hellzapoppin under Bidenomics! And it isn’t a musical, but a tragedy.
Between The Federal Reserve’s outrageous overreaction to Covid (printing like there was no tomorrow), and Biden’s massive spending spree (lots of moldy (green) spending, we have see horrid inflation.
And The Fed trying (sort of) to combat inflation, we see that 30-year CONFORMING mortgage rate for 80% LTV or lower credit borrowers is up 163.5% year-over-year under Bidenomics.
Under Bidenomics, public debt (owed by the US Treasury) is up 19% or greater than $5 triillion. Now wonder Biden throws are billions like it is water.
I seriously want the Biden Administration (and almost every member of Congress) why we are sending billions of dollars to Ukraine while barely giving Maui fire victims barely anything. The US is already $33 trillion in debt with >$193 trillion in unfunded liabilites. I want to ask Biden and Congress HOW the US is going to afford $193 trillion in unfunded liabilites?
Of course, NO ONE wants to face the reality of the disastrous fiscal poliicies of Washington DC politicians. Not McConnell, not McCarthy, not Schumer and especially not Billions Biden. Remember 10% for The Big Guy where Democrats argue that is meaningless. Or mini-me, Robert Reich (Clinton’s labor secretary) who claimed that the US economy is the best he has ever seen! Yes, Reich, for the top 1%. Of couse, no one will ask fools like Reich how we will pay for $33 trillion in debt and the $193 trillion in unfunded liabilies … and fund a war in Ukreiane in seeming perpetuity.
My good friend Jesse has an excellent write-up on the upcoming KC Federal Reserve annual retreat at Jackson Hole, WYO. This retreat is just the US banking version of The World Economic Forum and Klaus Schwab.
(Excerpt) Read more at confoundedinterest.net ...
This is a total disaster. Huge adverse consequences to every household in the country.
But, to the suburban Karen and the other View watching cabal, who cares as long as they get their abortion. That is really what matters here.
I’m certain that $193 Trillion in unfunded liabilities doesn’t seem like much. That’s because the U.S. government uses cash based (non-GAAP) accounting. /s You really don’t want to know the real NPV amount of the unfunded liabilities.
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