Posted on 10/05/2023 7:45:46 AM PDT by Kaiser8408a
Coping with inflation caused by Federal spending (and excessive Fed stimulus) is difficult and eventually consumer max out their credit cards. Like now!
Credit card useage nosedived by -10.8% in September, according to Citi. This is the fifth straight month of spending decleration.
Leading the decline was electronics. The leader on the positive sign was … jewelry?? Hey, I thought mobs of people were robbing stores because they were hungry!!
In terms of bank credit, rising rates to fight inflation, bank credit growth Bank credit growth has been negative for nine straigth weeks.
Then we have unrealized losses on bank balance sheets, expected to surge to $700 billion with soaring interest rates.
On a different note, Homeland “Security” head Mayorkas now claims the US has to build a wall to combat the out-of-control immigration on the southern border. Wait! I thought Mayorkas and Congressional members (angrily) claim the border was secure! It doesn’t matter, Mayorkas is simply signalling to blue states that he will build a wall. But how fast is a different question.
Here is a video of tHe Biden Administration arranging for the border wall to be consructed. Mayorkas will likely call O’Reilly the builder to build the border wall.
(Excerpt) Read more at confoundedinterest.net ...
I had a recent credit card solicitation... The APR was 30%+
When it costs $20-30 for two people to eat at Burger King, people stop spending money on such things.................
How is that not usury?
An Italian on the corner in 70’s Philly gave better rates…
Millennials have stopped spending to pay their student loans.
The phrase “mark to market” is about the re-enter the vernacular.
Sky high interest, maxed out cards, savings depleted, student loans kicking in, prices rising while real wages decline. Bidenomics in a nutshell. Democrats ask, “What’s wrong with the public that they don’t appreciate how good they have it?”
Lovely ... just lovely. Let the pain begin.
Time to redefine recession again to keep this strong economy going.
I’d comment on the current “Misery Index”, however, with the fraudulent unemployment and inflation numbers, it isn’t possible to calculate accurately.
Don’t forget the fraudulent GDP.
If inflation were accurately computed the GDP would have been negative for the last three years - my opinion.
If my company this year sells the same amount of goods and services for $1.20 that it sold last year for $1, that is not real growth. It’s inflation camouflaged as growth.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.