Posted on 01/04/2024 8:28:30 AM PST by george76
Increase socialism, decrease the middle class.
Great article. The incompetency of our modern government knows no limits. And they will not leave their jobs or offices willingly. So, the next move by us is....interesting.
From Aug. 1971, the USA has had a completely printed, fiat monetary system.
That means whoever control the issuance of money, controls where and to whom it flows, and who gets the benefits and purchasing power, before inflation and devaluation wash over the rest of us.
This has been known since before Adam Smith - but somehow, with the rise of Progressives and socialists in the early 1900s, we still prefer to trust central-planners and the morality of politicians with this most important commodity.
1971, middle class households took home 62 percent of all income in America... 2015, that number dropped to just 43 percent..
The median net worth of families in the United States was $137, 955 in 2007... 2015 just $82,756..
Worse now ?
https://freerepublic.com/focus/f-bloggers/3372459/posts
That’s true.
I find my perspective usually improves with Old Forester.
All part of the you will own nothing agenda.
Deep state , RINOs, democrats, and .. are killing the American middle class - by design, intentional.
American Royalty are Senators, Congressmen and President. Their loyal highly compensated junior royalty are government employees. Government grows like a cancer, it eventually kills the host.
Everything the government does is to destroy this country and our way of life.
Freepers try to tell me $80K/yr is a good salary in 2024. It is a joke salary.
“10 chords.”
cord
I would say that’s a lower middle class amount these days. $120K about average. Above $170K, almost entering good range.
Bidenomics Housing Market: Average US Household Can Afford Only Cheapest 16% Of Listed Homes (WORST Housing Affordability In History!)
Confounded Interest ^ | 01/04/2023 | Anthony B. Sanders
Posted on 1/4/2024, 7:47:17 AM by Kaiser8408a
Bidenomics has cast a gloom over the housing market. Mortgage rates up 130% under Biden while housing prices have soared.
For the average American, 2023 was the worst year ever for housing affordability—and now there’s more data to back it up.
According to Redfin data analyzed by Creditnews Research, the average U.S. household can only afford 15.5% of the homes that went up for sale in 2023—the lowest on record.
By comparison, the average household had the means to buy 20.7% of homes for sale in 2022 and over 40% before the pandemic.
Redfin data also showed the number of affordable homes for sale plunged to record lows in 2023, falling 40.9% to 352,500.
Although mortgage rates have declined since late October, they’re still double what they were before 2021.
According to NAR data, the housing market has about 3.5 months’ worth of supply at the current sales pace. As a result, existing home sales have plunged to 13-year lows and are on track for their worst year in more than four decades.
Experts predict lower mortgage rates, but will they help?
With mortgage rates declining for eight consecutive weeks, industry experts believe rates will continue heading lower in 2024.
The NAR has pegged 30-year interest rates as low as 6.1% in 2024 before rebounding slightly to 6.3%. The Mortgage Bankers Association has a similar view and expects rates to drop to 6.1% by the end of the year.
Meanwhile, Mortgage News Daily’s chief operating officer Matthew Graham believes rates could fall even below 5% next year.
Lower mortgage rates should help ease housing costs, but even 5% might not be enough to fix the housing shortage—the root cause of record home prices.
(Excerpt) Read more at confoundedinterest.net ...
Yes, that’s how redistribution works. The middle class gets leached the most, by percentage.
Yes, we have a ‘progressive income tax’, which is intended to tax the rich more, but I hate to sound like a democrat from decades past but there are a lot of ways to be wealthy without having a comparable level of taxable income. (funny how you don’t hear dems harping on this as much anymore now that most top teir rich are big lefties).
The whole process is punitive, and is intended to suck people out of the middle class and increase the size of the dependency class.
Rat Party Headquarters realized long ago that the middle class (and the working class) were Public Enemy #1. And then they set out to destroy it. And they’re well on their way to succeeding.
What happened to them??? They’ve been robbed by our filthy government!!
Especially the 100 proof "bottled in bond" variety.
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