Posted on 11/11/2023 8:53:11 AM PST by Kaiser8408a
Under Bidenomics, the song “Silver Threads And Golden Needles” should be renamed “Counterfit Silver Threads And Fool’s Golden Needles.” Or simply, Bidenomics is no good.
Conforming mortgage rates have actually dropped -34 basis points since hitting a local high of 7.81% on October 19, 2023. Unfortunately, mortgage rates are still up 169% under Biden and his signature Bidenomics. Even worse, home prices are up 33% under Bidenomics making housing even more unaffordable.
While real weekly earnings growth finally turned positive in 2023, growth is already slowing again as The Fed’s balance sheet slowly declines.
But its so easy for the government to spend money they don’t have, we will likely see inflation not cooling down much.
(Excerpt) Read more at confoundedinterest.net ...
Progressives don’t care.
People don’t buy a price. They buy a monthly payment. Normally that means high interest rates reduce prices. That’s why I’ve always mentored young people to buy a house when rates are high. It means prices are low and you can refinance when rates go back down. But what is happening now is unprecedented. Rates AND prices are going up.
If I were to wager a guess I’d say it’s because it’s not prices going up, per se. Rather, it is the value of the dollar plumetting. And this is just the beginning.
The scary part is that normally in an inflation cycle both income and prices go up. But when a country has reached its “end game” and the end of the middle class is coming, income collapses. And it collapses not by going down in true dollars, but going down in spending power.
Imagine we have the average prices we have today for food, cars, houses, etc., Except average income is still at mid-1970’s levels. I think that is the sort of thing that is happening.
But hey! TV’s are getting cheaper. Let them eat cake!
Exactly.
Was going to post about car prices. To get something equivalent to what I purchased in Spring 2018, I will spend at least 80% more.
Been researching next vehicle and finding nothing I like at anything close to a reasonable cost, even adjusting for a reasonable rate of inflation. Vehicle cost inflation is way above average inflation.
Rates should go up with the recent debt downgrade- we’ll see.
With the cost of materials- I’m thinking about selling my house for parts
“To get something equivalent to what I purchased in Spring 2018, I will spend at least 80% more.”
Specifics?
Disoriented Biden needs help from Arlington honor guard during solemn wreath-laying ceremony
https://nypost.com/2023/11/11/news/biden-needs-assistance-from-arlington-honor-guard-after-laying-wreath/
Disoriented Biden needs help from Arlington honor guard during solemn wreath-laying ceremony
************
The democrats will need duct tape to get him to the finish line.
However, replacing him is risky so my belief is they’ll continue “riding with Biden.”
Of course Biden becoming incapacitated by an unfortunate health event would change this scenario.
I hate the term “bidenomics” It implies that Biden has a plan for the economy that is not working.
When the fact is Biden has NO plan!
If Bidens numbers dont come up by next Summer... yeah, they will push him aside 100%. But there is still A LOT of time between now and then for things to change.
If the economy turns around and gas goes down.. the numbers might shift.
I bought a large domestic SUV about 2 years old with 16,000 miles for $22,500.
There’s NOTHING even close to that now. Check yourself!
“I bought a large domestic SUV about 2 years old with 16,000 miles for $22,500.
There’s NOTHING even close to that now. Check yourself!”
How can I check without knowing condition and model ...
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