The pain is not going to be over any time soon.
Don’t be surprised if SP500 index drops 20% from recent price of 4000, at around 3200 during 2023. This is Biden’s gift to the investor class.
The math is very simple. US Treasury is more bankrupt than any other country on earth with National debt climbing 3 Trillion every year with Bidenomics. With Debt at 160% of GDP, there is no way to pay off any principle, so the debt can only increase. US Treasury is projected to paying our $2 Billion every day of the year to service the interest on the debt by end of fiscal year 2023 in September.
Can’t beleive neocons already sent $100 BILLION to foreign war in Ukraine which is straight addition to national debt.
Inflation bites.
Thank you Sloe Joe et al!
So much for the “Santa Claus Rally”!
I throw up a bit in my mouth every time I see, hear or read the name Janet Yellen. The 76 year old leftist yenta should be home with her grandchildren not anywhere near the reigns of power.
“The November decline in retail sales—which includes spending at stores, online and at restaurants—marked an abrupt shift in spending, at least for goods. Shoppers spent less in November on holiday categories including electronics, clothing and sporting goods. Spending on autos and furniture also fell sharply, though gasoline sales fell slightly. The pullback occurred online and at department stores in a month that encompasses Thanksgiving, and Black Friday and Cyber Monday promotions. Consumers, however, spent more on everyday items such as food and healthcare products. They also increased spending on restaurant meals, in a sign that demand for services remains strong despite rising prices.”
So the plan to remove Americans from private autos is working, while more and more are focused on food - and I suspect “healthcare products” are soap, shampoo, and toothpaste.
The Thirdworldization marches on...
Meat and eggs finally dropped by 0.2%
Eggs went right back up again after another “bird flu” event.
They are up almost 40% - 50% from a year ago.
Just a couple weeks ago, the Fed was saying that they needed to raise rates because people were spending too much money.
Weathermen have more credence that the Fed and weathermen can be wrong 95% of the time and still be “doing OK”
Yellen made sure to cheer the drop in gasoline prices over the last six months.
Big deal it’s down to what it wasn’t up to three years ago.
BS meter smoking