Posted on 09/13/2022 4:59:51 AM PDT by MtnClimber
Rick Newman of Yahoo Finance is always a treat as he campaigns for Democrats and their policies.
Even with inflation at 40-year highs because of Democrats’ profligate spending (with the help of the Federal Reserve printing money and keeping rates artificially low), and because of Biden’s intentional destruction of the fossil fuel industry, Newman still says that Americans are better off than we think.
America is doing better than you think
But Beverly Herzog of US News points out:
Around 64% of Americans are living paycheck to paycheck, according to a May 2022 LendingClub survey.
You might think that this is an issue only for those who have low incomes. But it can happen to anyone at any income level. In fact, an earlier version of the study also revealed that 48% of those making in excess of $100,000 a year lived paycheck to paycheck.
35% of families having full time jobs can’t afford basic needs. The situation is worse for Black and Hispanic families, where more than 50% of working families can’t afford their basic needs. But, according to Rick Newman, Americans are better off than they think.
(Excerpt) Read more at americanthinker.com ...
Leftists live in unreality, so this is not surprising.
What color is the sky in their world?
Liars gotta lie
It’s what they do
There’s only one class of people who stick fingers in their ears and yell LALALALALALALA! when confronted with the truth of any matter they don’t want to hear. Seems some once semi-smart folks have gravitated to this affliction. To bad it’s politically incorrect to mention what they have become.
You MUST enjoy your destruction
Yahoo knows better than you do. Don’t believe your lying eyes.
On a given Monday, I have $500 but on Wednesday, after buying gas, I have $300. On Thursday my paycheck is deposited and I have $600. By this YAHOO’s logic, I am 100% better than I was on Wednesday evening PLUS full gas, right?!
Real world logic looks beyond immediate results for longer term trends. What is not included in the above is that I am in California and my fridge is full of bad food.
Yeah, that works!
Hmmm...Yahoo finance.
What does his relative Alfred E. think?
And do Yahoo employees still carry business cards that, in this case, would list the person's job title as "Finance Yahoo", or is that a thing of the past?
The 90s were a foreign country.
Guess he hasn’t seen this morning’s inflation rate just released
64% of Americans are living paycheck to paycheck . And from my point of view that would not change if they were to double their income . We’ve watched the renters come and go in a rental home here on the homestead . Mostly city types that think they want to live in that magic place called the country . We take our measly sack of trash down to the road for pick up today [tuesday] as we do every week . The renters will have 5 or 6 or 7 or sometimes 8 bags . As per normal I will drive my little Japanese 4wd tractor up top of the hill to the rental and get their trash because they can’t be bothered to take it down even though I pay for the pick up. Even if they were motivated they seldom ever get up before noon and often not until 2 or 3 pm . Because of the cats and coons their bags are usually torn and often scattered about and I see the unused bottle of Perrier and pop and spring water and orange juice with one or two swigs taken and then discarded . Boxes of chicken McNuggets half eaten . The waste is alarming to me as I was raised in a very frugal home and taught that “ the waster is companion to the destroyer” . On Friday morning they will both be on their phones checking to see if they have enough in the account for a coffee and breakfast sandwich . This has been the norm for many years . What will these folks do if and when the next depression/financial collapse hits ?
“Everything’s fine inside my bubble. I don’t see what people are complaining about.” ~ Rick Newman
Insert Voltaire quote here
Your description is Spot On!! My parents were children during the depression and they, by living frugally, taught me how to cope during times or recession and potentially depression.
The “renters” you describe, I see every day. Waste is a non-issue to them. They just think the grocery shelves will ALWAYS be full. Well Joey Crappy Pants proved otherwise, yet they refuse to learn.
You ask: “What will these folks do if and when the next depression/financial collapse hits ?” In my opinion, they will cry, whine, beg for food, etc.
SORRY, NO CHARITY to be found at my door. They Never Earned it!!!!
And the Treasury yield inversion just got worse. The 2Y - 3.7%, 10Y - 3.4%. The bond buyers know a recession is here.
This is the pre-market reaction to the “good” news that the economy is just swell!
S&P Futures
4,038.25
-72.50(-1.76%)
Dow Futures
31,964.00
-422.00(-1.30%)
Nasdaq Futures
12,443.50
-297.25(-2.33%)
How about the 20 million Americans now facing eviction?
Is that better?
More micturation by the establishment upon one’s head and them telling the populace it is raining...
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