Keyword: misery
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ith the economy apparently on the up and up post-pandemic, some Americans find themselves unhappy with the current state of affairs. The Financial Times reported that only 14% of American voters believe they are better off financially now than when Joe Biden took office, according to a recent poll. At the same time, nearly 70% of voters thought Biden’s economic policies had either hurt the U.S. economy or had no impact. Just 26% of respondents said his policies had helped. Despite these views, the unemployment rate was recently as low as 3.9%, wage inequality has decreased over the past three...
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Wasting away again in Bidenville, looking for my lost economy. In June, the White House revealed a new public relations campaign called “Bidenomics” to define President Biden’s economic agenda ahead of the 2024 presidential election cycle. “I don’t know what the hell that is, but it’s working,” Biden stated at a June 17 rally in Philadelphia, begging the question, is it actually working? NO!!!! Americans, particularly middle-class ones, have been crushed in the inflation storm. They’ve been battered by two years of negative real wage growth, forcing many to quickly draw down on savings while using credit cards in a...
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Bidenomics? Yes, an economy where inflation crushes the middle class and low wage workers with 2 years of negative wage growth and now 24 or the last 25 months of negative growth rates of Pending Home Sales YoY. After existing home sales were flat and new home sales exploded higher, pending home sales once again are the tie-breaker on May’s housing market (and were expected to decline 0.5% MoM). The actual print was considerably worse than expected, down 2.7% MoM (and April was revised down from unchanged to -0.4% MoM). Pending Home Sales were down -20.8% YoY in May. This...
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I could have used 3 shades of Joe, but 50 shades of Joe sounds better! But the fact remains that Americans are far more miserable under Biden than they were under Trump before the Chinese Wuhan Covid virus was unleashed. 9.03 today (Core CPI YoY + U-3 Unemployment) than it was in February 2020 under Trump (5.86). While not twice as bad, inflation is continues to cause serious problems for America’s middle class and low-wage workers. Speaking of the middle class and low wage workers, let’s look at the Renter’s Misery index (CPI Owner’s equivalent rent YoY + Unemployment rate)....
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While I am miserable under Biden and Yellen’s “Reign of Error,” apparently much of the USA is miserable under Biden/Yellen as well compared to the pre-Covid days of Donald Trump. 9.03% misery index (unemployment rate+ core inflation) today compared to 5.86% at the end of 2019 under Trump (before we got Fauci’d and Weingarten’d (the National Teachers’ Union President who pushed public school shutdowns)). (Bloomberg) If a recession is going to come in the next 12 months — and most economists surveyed by Bloomberg say it probably is — then President Joe Biden should hope it begins sooner rather than...
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Around 4.5 million people are without electricity, Ukrainian President Volodymyr Zelensky said in his nightly video address to the nation on Sunday. He called on Ukrainians to endure the hardships and said: 'We must get through this winter and be even stronger in the spring than now.' Russia has focused on striking Ukraine's energy infrastructure over the last month, causing power cuts and rolling outages across the country.
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At best, the political messaging behind Biden’s ‘plan’ would do little to solve Americans’ pain. More likely, it would make the problem worse.In an op-ed in last week’s Wall Street Journal, President Biden’s ghostwriters outlined what the title of his column called a “plan for fighting inflation.” After reading the article, five simple words come to mind: “Hold on to your wallet.”At best, the political messaging behind Biden’s “plan” would do little to solve Americans’ pain. More likely, it would make the problem worse. Here are the major components of his agenda.Step 1: Change the SubjectThe column began with a...
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The flexible cut of the CPI—a weighted basket of items that change price relatively frequently—increased 19.76 percent (annualized) in February. If we added the U-3 unemployment rate, we get a MISERY Index under Biden of 23.56%, the highest in modern history. Biden: No joy for you!
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It is truly a miserable time for many Americans as demonstrated by the Misery Index (inflation rate + unemployment rate). But rather than using the CPI YoY measure at 7.5%, I am using the FLEXIBLE CPI YoY to compute the misery index. And is it ever miserable! In January, the CORE flexible CPI YoY + U-3 unemployment rate hit a modern high at 22.99%. Or at least since 1967. Like the movie “50 Shades of Gray,” we have 50 shades of inflation. Examples? How about hardwood? Producer Price Index for hardwood is up 30.8% YoY. How about diesel fuel prices?...
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What is the Misery Index? The misery index helps determine how the average citizen is doing economically and it is calculated by simply adding the Annual inflation rate to the Seasonally Adjusted unemployment rate. The chart below includes inflation, unemployment, misery index and who was President. As inflation rises the cost of living increases and as unemployment rises more people cross the economic line into poverty. Therefore, this index is a quick and dirty metric to gauge the health of the economy since both high unemployment and high inflation are major factors to the average wage earner.
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They say misery loves company, and that may be why liberals always want to extend their control over everyone and everything—because they are miserable people. Thomas Byrne Edsall covers some of the survey evidence about the misery and unhappiness of liberals in a New York Times article back in October:Conservatives Are Happier Than Liberals. Discuss.Two similarly titled papers with markedly disparate conclusions illustrate the range of disagreement on this subject. “Why Are Conservatives Happier Than Liberals?” by Jaime Napier of N.Y.U. in Abu Dhabi and John Jost of N.Y.U., and “Conservatives Are Happier Than Liberals, but Why?” by Barry R....
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Renters in the US are getting clobbered by inflation. The US Zillow Rent Index All Homes YoY + CPI YoY is one measure of renter misery. The classic misery index (CPI YoY + U-3 unemployment rate) is 10.80%. Then there is inflation in food prices, gasoline, heating oil, natural gas, etc. While Biden is releasing the Strategic Petroleum Reserves (SPR) in order to mitigate the problem that he created by terminating the energy pipelines and oil/natural gas drilling permits in the name of “Going Green!” But on the announcement of tapping the SPR, crude oil futures actually rose. But never...
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Periodically economists attempt to gauge how Average Americans are weathering the ups and downs of the economy. By using the simple yet clever technique of adding the U.S. unemployment rate (4.8%) to the rate of inflation (5.39%) economists can quantify the economic well-being of the country into a misery index. The current U.S. Misery Index is 10.19%. ... But what exactly does the Misery Index tell us? First, we know that as the rate of inflation goes up, the cost of living increases. Next, as the unemployment numbers rise, more and more people fall into poverty. Consequently, the Misery Index...
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There is a slowdown in bank lending since The Fed’s intervention in March 2020. Bank credit has slowed since March 2021 resulting in banks parking money with The Federal Reserve in the form of reverse repos. Loans and leases are experiencing negative growth rates. Residential real estate loans are also experiencing negative growth rates and a corresponding rise in reverse repo usage. Commercial real estate lending remains in positive territory. Commercial and industrial loans? Also experiencing negative growth rates. Clearly, banks are nervous about inflation since lending at fixed-rates in an inflationary environment is bad news. Not to mention fears...
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Young adults today are likely unfamiliar with the term “misery index.” But they could soon learn about it the hard way, thanks to President Joe Biden’s economic incompetence. The misery index, a measure started under President Lyndon Johnson, is a simple measure combining the unemployment rate and the inflation rate. The idea being that joblessness and a fast-rising cost of living produces palpable misery in the country. The index has long been forgotten because it’s been so low for so long. It hit a high of 21.9 under Jimmy Carter way back in 1980, but by the end of President...
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She reminds me of her for some reason.
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There are probably multiple reasons why coronavirus cases in the US are down nearly 50% in the US in the last month. Could be seasonal. Could be the vaccine. Could be herd immunity from natural infection. Could be the post-holiday default to endemicity. Could be a change in the cycle threshold of PCR that generates fewer positive cases. Could be data tweaks in light of political changes. Anyone who says he knows for sure which is dominant is pretending to know the unknowable. The New York Times, which obliquely reports the case decline, is still certain that you should still...
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“Why didn’t God just create us so that we would never have to experience pain, suffering, or sadness?”After all, God has the power to make the world free of evil, yet He chose instead to make us creatures with free will. Thus, free will was the door left open for the possibility of evil entering our lives. Then one must ask, "What's the purpose of pain, suffering? Why does God allow humans, who were made in His image, to live on a planet where evil abounds?"Well, God could have made us perfect without the ability to sin, and we...
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Slow Joe Biden’s moving fast. His parade of remarkable measures is marching in double time. On Day 1 alone, the new President of the USA signed 15 executive orders and 2 executive agency directives. Surely, he got writer’s cramp. Here’s a partial summary of what all was covered…By executive order, President Biden promises to save the environment by rejoining the Paris climate accord. He also promises to weaken America’s energy security by terminating the Keystone XL pipeline.In addition, Biden’s getting America mixed up with the World Health Organization again. And to keep you safe, he’s ordered one hundred days of...
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