Posted on 02/27/2023 4:29:58 PM PST by RomanSoldier19
People should see that stories like this one also dovetail with stories of “Where did all the workers go?”
Prices are absurd. And who can buy a house now? Prices are through the roof. The standard vision is that young people start off at reasonably low-level jobs (I’m not talking McDonald’s). They enter the workforce, chasing that American dream. Some hard work, some loyalty to the Big Company, and they can rise up and start a family, buy a home, and live a life.
All of that is out the window. The American Dream is running away from young people faster than they can run to catch up. Their employer will show them no loyalty. They will not rise up. And they won’t ever be able to buy that $600,000 starter home.
People give up on their dreams and drop out of the workforce. A minimal existence that keeps them from starving is all they want. They figure contributing to the country’s economic engine is a fool’s game.
“be able to buy that $600,000 starter home.”
Lot of them are living in camper trailers down here. USED camper trailers.
RV Trailers are/used to be, qualified for FHA as far as I know.
Is that some weird Indian dance?
The cause is high fuel prices due to the guberment screwups.
We are burning up so the answer is to throw more wood on the fire?
.Gov has pushed for asset inflation instead of the idea of wage increases; even now .gov says wages ran up too high. Asset inflation allowed for the outsourcing of the American workforce, global wage arbitrage, massive legal/illegal immigration. People thought they were doing better, but it's just via the increase in government spending.
Most everyone is willing to give 20% of their assets/income to Ukraine. Sure it will be a bit painful, but you’ll feel so much better later.
Unfortunately for us, he's dead. And Democrats are in charge. Joe Biden is the favorite to win reelection in 2024. So we will see more of this stagflation under Carter Years.
The inflation is caused by eighty dollar oil and five dollar diesel fuel..Plus the fertilizer is out of sight…
WHO is buying stuff these days? As during the ‘0bama Reign of Error’ we are putting off ALL purchases for any ‘consumer goods’ other than food and fuel.
And we’re driving less and eating less.
FJB. FJY. FBOA.
“(I’m not talking McDonald’s)”
Why not? $17.50 full-time starting wage here is not bad ($36,400/year). Even a single-income person here can save up and buy a starter home on that.
Inflation creates the incentive to spend the money you have. Why save money if the value of it gets destroyed overnight, or next month.
Credit card interest rate varies between 19% and 30%. How much higher does it have to go.
Credit card rates (19-30%) have no direct correlation with Fed Funds rates (4.75%). Credit card rates are based on how many users are in default.
“Inflation creates the incentive to spend the money you have.”
Not so much in this household.
HOWEVER - When things first started getting nutty, we DID do a Costco Run and stocked up on eggs (6 dozen was the limit) and a few other perishables; we had spare fridge room. (Again, limited to food and fuel expenditures.)
That said, in Winter we normally do home repairs/upgrades. Other that cleaning out the Milking Parlor of the barn and building a chicken coop with materials already on hand, we’ve done nothing to improve This Old Manse since 2020.
Previous Winters we were busy installing new flooring, upgrading heating and A/C, buying new appliances (after 30 years), etc.
I miss the economy under President in Exile Trump. Though I admit he was a Big Spender, too. :(
I’m sticking with what served me best under the eight bloody YEARS of 0bama. I was also still employed and running a multi-million dollar enterprise during that time. It. Was. Brutal.
But, we did it! :)
I would like to see Bank of “America” get crushed.
Voting doesn’t matter anymore. The deep state just steals whatever elections they need to in order to further their agenda. There is no way this country is more liberal than conservative. Things are only going to get worse until the voting system is cleaned up.
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