Posted on 09/09/2023 8:19:32 AM PDT by Kaiser8408a
Bidenomics is terrible! Just a huge payoff to be big donors (the donor class) for green energy, Big Pharma and Big Defense. Now Biden is considering using ankle monitors to prevent illegal immigrants from leaving Texas and traveling to welfare-friendly blue states like California and New York rather than just enforcing the border. The middle class is truly wasting away with Bidenomics.
Then we have consumer credit plunging with massive downward revisions.
The Fed reports dramatically weakening consumer credit with negative revisions too.
Consumer Credit data from the Fed, the last two months labeled are May and July, chart by Mish Consumer Credit Report Revisions
Consumer Credit data from the Fed, chart by Mish Revision Key Points
Most of the revisions are in nonrevolving, but that impacts the totals. Nonrevolving credit rose $1 billion in July, from a negative $22 billion adjustment in June. The Fed revised a reported $3.735 trillion down to $3.713 trillion. In turn, nonrevolving impacted the totals. Total credit rose $11 billion in July, from a negative $23 billion adjustment in June. The Fed revised a reported $4.997 trillion in June down to $4.974 trillion. Nonrevolving Consumer Credit in Billions of Dollars
Nonrevolving consumer credit data from the Fed, chart by Mish
(Excerpt) Read more at confoundedinterest.net ...
WUT?! Used to need to think twice about around town trips last year. Now we have to think 3 or 4 times before venturing out. 🤔. Hey branDUHnomics.......🖕
Lol...
Bidenomicsville!!
Thatsa’ good’n
I wonder if Chicken Brain realizes how stupid he looks as he walks across the nation’s and the world’s stage? I wonder if he knows how he will be treated in history as the worst leader ever?
I wonder if he knows, somehow, that he has been used as a ventriloquist’s dummy by that infamous fruitcake Obammy?
I wonder if half of America and most of Congress realizes that by doing nothing further assists the slide of America into the gutter?
So much can be done between now and the 2024 election to stop this slide as the acceleration of the USA is mind-boggling. By the same token the speed of degradation will be
much faster that the first part of numb nut’s Nazi reign?
I didn’t understand the excerpt and I didn’t understand the full article. I simply do not have the economics education needed to interpret what all of those consumer credit adjustments mean.
I think this is the same kind of experience people have when they read about vaccines. They don’t understand the science, so that, to them, antivax fearmongering sounds just as legitimate as real scientific explanations.
I have to keep this in mind the next time I debunk antivax (and antiscience) rhetoric. I must always explain what the data means.
A year or more ago, we bought out a BIL's remaining mortgage principle, securing it with a proper, legally recorded "loan document" that we participate in the house as an asset, and will collect only when BIL passes. The finance institution said basically, 'great for him but bad for us.' Not our problem.
Our advice to our extended family and friends is to pay down and off credit balances, and never go back into debt. We are assisting another in that regard in the moment. Unencumbered by debt is unencumbered by debt. "Credit" sounds like a nice word. It isn't.
You should educate yourself about the economy and the “we have to change the meaning of vaccine to call it a vaccine”.
It’s clear that Biden is after the Social Security Fund by ‘paying’ outrageous $$$ to house, feed, and medicate illegal aliens. He’s using aliens to steal from US citizens.
I evicted a guy who takes his “job” as a consumer to heart. Not paying the rent but buying huge amounts of products not related to survival. He was laid off but kept spending. Feces for brains. When you have no income cancel the damned internet. Turn the air up. The critical phrase in the article was “keeping up the lifestyle.”
“I wonder if he knows how he will be treated in history as the worst leader ever?”
He may or may not be treated as such. Depends on who writes the history.
We ain’t writing it.
************
Bingo! Everything Biden wants enriches and benefits his liberal supporters.
We only go on local town trips when there are multiple errands we can can efficiently accomplish on a single outing.
What did you think “Build Back Better” meant?
“Build Back” from what? You have to destroy it, first.
Demonrats have the midas touch in reverse. Everything they touch turns to s—t. I remember wben obana said we just had to get used to a 1.0 GDP and when President Trump too over it went to almost 3.0.
,
“OUR TOP STORY TONIGHT — this new data is a good news and shows that the economy is stronger than ever. Let us explain ...”
— Major Media
“He may or may not be treated as such. Depends on who writes the history.”
As the old saying goes “truth is the daughter of time.” The question is how much time?
What’s he gonna do if they remove the ankle bracelet, deport ‘em?
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