Free Republic

Do you believe the politicians in Washington or do you believe your own eyes? The politicians keep telling us that “inflation is low”, but everyone can see that everything sure does cost a lot more than it once did. Our standard of living just keeps going down, and even JPMorgan Chase CEO Jamie Dimon is admitting that “inflation is hurting people”. But how can inflation be “hurting people” if it is under control? Of course the truth is that it isn’t under control. If the official rate of inflation was still measured using the formula that was in place in...

We are in the house latitudes. Despite declining mortgage rates, the University of Michigan Consumer Sentiment Index Buying Conditions for Housing fell to 44. Why are buying conditions for houses so low? Well, mortgage rates, despite coming down recently, are still up 151% under Clueless Joe. And home prices are up 33.2% under Biden. So much for affordable housing for those renting. Like the great Shoeles Joe Jackson on ChiSox and Cleveland Indian fame, Clueless Joe Biden cheated too. Except that Shoeless Joe was accused of accepting $5,000 to throw the World Series in 1919. Clueless Joe Biden and family...

Vista Outdoor, a parent company to many firearms businesses, told Newsweek that it will substantially increase its ammunition prices due to "an anticipated global shortage of gunpowder."The Minnesota-based company confirmed the authenticity of a December 1 letter sent to customers that it would go ahead with an across-the-board increase of its ammunition and gunpowder prices on January 1."Due to world events our suppliers have notified us of unprecedented demand for and an anticipated global shortage of gunpowder, and thus has increased our prices substantially," Vice President of Sales, Sporting Products Brett Nelson said in the letter. "We must therefore raise...

When it comes to the economy, Americans are feeling invigorated by holiday spirits and hopes for next year’s election. The University of Michigan’s barometer of consumer sentiment soared to a preliminary December reading of 69.4, the best reading since August. Economists had been predicting only a mild pick-up to 61.9 after sentiment had sunk to a six-month low of 61.3 in November.

The classic "American Dream" including two kids, a house, and car costs more than most make in a lifetime. The American Dream now costs $3,455,305—that's the estimated lifetime cost of common milestones including marriage, two children, homes, healthcare, cars, and education. The cost of raising two children to the age of 18 is now estimated at over half a million dollars ($576,896). The average lifetime cost of a home including a mortgage with a 10% down payment and a 30-year fixed rate of 7.2% is now about $796,998, according to Investopedia's analysis. The American Dream now costs $3,455,305—that's the estimated...

Even though inflation is still higher than ideal, many things are actually getting cheaper. But perhaps not the ones most Americans want. The prices of durable goods, meaning long-lasting items such as used cars or appliances, have fallen year-over-year for each of the past five months. Data released Thursday by the Commerce Department showed prices for such goods were down 2.2% in October compared with the year prior. Some economists estimate the fall in goods prices could bring inflation back to the Federal Reserve's 2% target by as early as the second half of 2024. One inflation gauge, the personal...

Our national debt has hit an alarming $33 trillion and shows no sign of slowing down, signaling a looming financial crisis. The situation becomes even more concerning as recent bond auctions fail to raise the desired amounts, with some falling significantly short. The USA is on an unsustainable financial path, with projections suggesting a potential default within the next 20 years if corrective measures are not taken. Bloomberg Intelligence emphasizes the urgency of the situation.

Build Back Better is a bust. We all know that. Nothing gets built, and nothing gets better. 'Congress provided $7.5B for electric vehicle chargers. Built so far: Zero.' 'Two years later, the program has yet to install a single charger.' From @politicohttps://t.co/0PY4VNcjbO— Byron York (@ByronYork) December 5, 2023Still, you would think that if the Biden Administration decided something was a priority, like getting Americans out of internal combustion engine cars and into EVs, some movement toward that goal would have been made.You would be wrong.The true purpose of the “Inflation Reduction Act” was to pass the Green New Deal under...

You might as well face it, markets are “addicted to gov.” Government monetary interference, that is. Government money printing and massive Federal spending. According to Goldman calculations, $350BN of liquidity (in USD terms) was added in November from the G4 central banks + the PBOC was nothing short of a fire hose. In fact, this was the third largest monthly increase this year after January and March 2023. The US addition of $60bn for a third consecutive week plus weaker dollar are the main drivers. While the BoJ keeps adding liquidity via bond purchases, increases in the TGA balances in...

During the visit of US Defense Secretary Lloyd Austin to Kyiv, he was informed that Ukraine needs 17 million shells, as well as 350-400 billion dollars of forces and resources in order to de-occupy the entire territory of the country, reports Ukrainska Pravda online newspaper. "Calculations of the [Ukrainian] General Staff show that 350-400 billion dollars of forces and resources are needed to fulfill the task of liberating the entire territory of Ukraine. Some of the planning ideas were presented to Austin by the General Staff during his visit to Kyiv in November.

transcript: "It is critically important that this money is not just going out of the United States to another country with no positive impact on the United States. Beyond the issue of autocracy, which is critical enough in defending democracy, it is also a boon to our economy. So they are trying to make that important argument. And, of course, now they are facing in the House a speaker who has twice voted against funding but has now publicly said he will support it, provided we get something on the border. So, you know, the message has reached somebody who...

The leftist Atlantic actually victim-blamed Americans for the crushing high prices they’re experiencing. In the same breath, the outlet billed President Joe Biden’s ridiculously bad economy as the cat’s pajamas. If “everyone is miserable,” how could things be “going great”? CBS News reported based on analysis by the Joint Economic Committee Republicans that Americans need an extra $11,400 today “just to afford the basics.” CNBC also recently analyzed that the increases in consumer expenditures constitute “doom spending” as a coping mechanism to deal with the increasingly insurmountable high cost of living, even if it is detrimental to them. But Lowrey...

Do you believe the politicians in Washington or do you believe your own eyes? The politicians keep telling us that “inflation is low”, but everyone can see that everything sure does cost a lot more than it once did. Our standard of living just keeps going down, and even JPMorgan Chase CEO Jamie Dimon is admitting that “inflation is hurting people”. But how can inflation be “hurting people” if it is under control? Of course the truth is that it isn’t under control. If the official rate of inflation was still measured using the formula that was in place in...

Gold prices notched a record high for a second day in a row Monday — but the global rush for bullion is not about to stop anytime soon. Gold prices are on course to hit fresh highs next year and are expected to remain above $2,000 levels, buoyed by geopolitical uncertainty, a likely weaker U.S. dollar and possible interest rate cuts. Prices of the yellow metal have risen for two consecutive months with the Israel-Palestinian conflict boosting demand for the safe-haven asset, while expectations of interest rate cuts have provided further support. “We believe the main factors buoying gold in...

If your earnings rose by 34% from January 2020 to October 2023, congratulations, the purchasing power of your labor kept pace with higher costs.Official measures of inflation are a long-running tragi-comedy: comedic in the transparency of the distortions, and tragic in the consequences: what will you believe is true--the statistics or your lying eyes?The basic gimmick of distortion is to underweight whatever is eating away at the purchasing power of earnings and highlight the trivial items that are getting cheaper due to declines in quality and globalization. So your rent went up by $200 a month, or $2,400 a year,...

While members of the Biden Administration party at DC nightclubs, the rest of America are drinking Carlo Rossi wine (a favorite of mine in high school!) and eating Spam. The average U.S. household needs an additional $11,434 per year to maintain the same standard of living due to record-high inflation under the Biden administration. While hourly pay has increased, inflation has outpaced it. Spending on basic survival needs like food, transportation, housing, and energy has increased, with households in the Mountain West facing the highest rates of inflation. “We choose January 2021 as the base month because it was the...

You would think, with prices as high as they are, that Americans would have tempered their enthusiasm for shopping of late; that they would have pulled back spending on luxury items; that they would have sought out budget and basic options, bought smaller packages, fewer things. This is not what has happened. Consumer spending rose 0.2 percent, after accounting for higher prices, in October, the most recent month for which the government has data. Online shopping jumped 7.8 percent over the Thanksgiving long weekend, more than analysts had anticipated. The sales of new cars, dishwashers, cruise vacations, jewelry—all things people...

Despite The Fed’s attempts at cooling inflation down to 2%, we are seeing a re-animation of price increases. this time with home prices. On a year-over-year basis, the Freddie Mac National FMHPI was up 6.0% in October, from up 5.1% YoY in September. The YoY increase peaked at 19.1% in July 2021, and for this cycle, bottomed at up 0.9% in April 2023. … vv Austin TX is the big loser, down -11.2% from peak. Followed by Idaho (largely people escaping from Newsomland (California) and speculators. The sixth leading area is Lake Havasu AZ. Freddie HPI CBSA As of October,...

The nearby cities of Cambridge and Chelsea have experimented with similar programs and supporters say it could be a boost to nearly 18% of Boston residents.

Shrugging off higher interest rates, America's consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September...The government had previously estimated that the economy grew at a 4.9% annual rate last quarter...the unemployment rate has come in below 4% for 21 straight months, the longest such streak since the 1960s..."We continue to forecast ongoing expansion in economic activity, but the pace should slow quite significantly in Q4..."