Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[B-Man]

 

 

HUH, WHAT HAPPENED FOUR YEARS AGO? 

 

Here’s how much Americans say they need to retire — and it’s 53% higher than four years ago.

 

Americans have lofty goals for their retirement, with the typical worker believing they need $1.46 million to retire comfortably — a jump of 53% from their savings target in 2020, according to a new survey from Northwestern Mutual.

 

But most people are far from reaching that objective, with the study finding that the average amount held in a retirement account today is just $88,400. That means that the typical worker has a $1.37 million gap between their actual savings and their retirement aspirations.

 

Due to the impact of inflation and other financial pressures, Americans today believe they need to sock away more for their golden years compared with 2020, when the typical worker pegged a comfy retirement as requiring $951,000 in savings, Aditi Javeri Gokhale, chief strategy officer at Northwestern Mutual, told CBS MoneyWatch.

 

There are other contributing factors, but four years ago was when Washington set the money printing presses to Ludicrous Speed and they haven’t slowed down since.

 

https://www.cbsnews.com/news/retirement-savings-how-much-americans-need-1-46-million/

 

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[All_Pro_Bills]

19 minutes ago, B-Man said:

 

 

HUH, WHAT HAPPENED FOUR YEARS AGO? 

 

Here’s how much Americans say they need to retire — and it’s 53% higher than four years ago.

 

Americans have lofty goals for their retirement, with the typical worker believing they need $1.46 million to retire comfortably — a jump of 53% from their savings target in 2020, according to a new survey from Northwestern Mutual.

 

But most people are far from reaching that objective, with the study finding that the average amount held in a retirement account today is just $88,400. That means that the typical worker has a $1.37 million gap between their actual savings and their retirement aspirations.

 

Due to the impact of inflation and other financial pressures, Americans today believe they need to sock away more for their golden years compared with 2020, when the typical worker pegged a comfy retirement as requiring $951,000 in savings, Aditi Javeri Gokhale, chief strategy officer at Northwestern Mutual, told CBS MoneyWatch.

 

There are other contributing factors, but four years ago was when Washington set the money printing presses to Ludicrous Speed and they haven’t slowed down since.

 

https://www.cbsnews.com/news/retirement-savings-how-much-americans-need-1-46-million/

 

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The White House is proclaiming April 15th, previously known as Tax Filing Deadline Day, as the "I don't have enough savings to retire because Joe Biden's inflation screwed me peoples day of visibility". 

[BillsFanNC]

 

[Doc]

4 hours ago, BillsFanNC said:

 

Shocking because they never lie...

[All_Pro_Bills]

6 minutes ago, Doc said:

 

Shocking because they never lie...

What the idiots don't get is so simple.  You can't keep handing out trillions of dollars in free money for consumption without making the necessary investments to increase supply, productivity, and the creation of goods and services.  Because people will use that free money to buy stuff without a counter-balancing increase in the supply of stuff which bids up the price of the stuff available because the demand is higher than the supply.   

 

If you want to stop inflation you need to do the one thing the administration and the Fed won't do.  Stop printing and creating more money. 

Edited April 11 by All_Pro_Bills

[Tommy Callahan]

Everything is fine.  

 

 

[BillsFanNC]

1 hour ago, Doc said:

 

Shocking because they never lie...

 

And their useful idiot puppets parroted all those talking points dutifully and without fail.

 

Transitory.

 

Putin/Trump's fault.

 

It's higher elsewhere / global phenomenon. 

[Tommy Callahan]

 

[Roundybout]

51 minutes ago, Tommy Callahan said:

 

Sounds like we should repeal Trump-era tax cuts on the rich, then. You know, the thing Biden wants?

Edited April 12 by Roundybout

[Tommy Callahan]

Extend them.  Silly spenders ignoring how tax and spend is a cause of the problem..

 

 

 

[KDIGGZ]

Gold value peaking. Bitcoin should see some action this week with the halving. Nobody wants US dollars anymore

[Tommy Callahan]

 

 

[Irv]

Everything Demented Biden and Third Term Obammy touch turns to *****.  What a mess!

[Big Blitz]

Everything is awesome 

 

 

[Big Blitz]

On 5/7/2021 at 9:40 AM, Big Blitz said:

And make no mistake.....this is on Ds and free money.  Period.  

 

 

 

BREAKING: Unemployment Rate INCREASES, Numbers ‘Way Worse Than Expected’. Talk Of Inflation Grows.

 

 

CNBC: Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers. Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%.

 

BLOOMBERG: The numbers are out, and on the top line they are way worse than expected. Something seems very off: only 266,000 jobs created in April, and the unemployment rate ticked up to 6.1%, according to the report.

 

A separate report from CNN warned that “if you haven’t felt [inflation] yet, it’s coming.”

 

https://www.dailywire.com/news/breaking-unemployment-rate-increases-numbers-way-worse-than-expected-talk-of-inflation-grows

 

 

May 2021.  Note the chyron.  
 

BOOMING ECONOMY.  
 

Who was president again up till February of 2021?  How did that BOOMING ECONOMY libs are now trying to convince us Biden inherited and had to rehabilitate get to BOOMING levels?  
 

I’m told Trump ran the economy into the ground.  
 

 

 

 

You are here because of Covid and America’s surrender to the flu because Trump had to lose.  
 

Your kids can’t afford housing bc Trump had to lose.  
 

Let that sink in before you ever consider voting for these lunatics ever again.   
 

Which you did in 2022 because you weren’t really feeling inflation and the ramifications of the CCPCIA coup yet.

 

 

This reminder is not intended for our resident communists.   

[B-Man]

18 hours ago, Big Blitz said:

You are here because of Covid and America’s surrender to the flu because Trump had to lose.  
 

Your kids can’t afford housing bc Trump had to lose.  
 

Let that sink in before you ever consider voting for these lunatics ever again.   
 

Which you did in 2022 because you weren’t really feeling inflation and the ramifications of the CCPCIA coup yet.

 

 

This reminder is not intended for our resident communists.   

 

 

TRUTH: “Covid” Didn’t Destroy Businesses and Lives; The Government Did.

 

It is time to stop blaming “Covid” for breaking the economy, destroying businesses and livelihoods, and wreaking untold havoc upon families.

 

It was not “Covid” that did this. It was not even the Chinese. It was our government.

 

The government has conditioned us to blame the impersonal “Covid” for the destruction it wrought upon our businesses and families. We need to change the discussion by using the proper language to fix the blame where it belongs. . . .

 

Covid did not make the insane decision to close down gyms while leaving liquor stores open; the government did.

Covid did not prevent us from going to worship at the church of our choice; the government did.

Covid did not chase down and try to arrest bikers, surfers, joggers, and others engaged in outdoor exercise; the government did.

Covid did not prevent families from holding and comforting their parents and grandparents during their final hours of life; the government did.

Covid did not shut down our schools; the government did (aided and abetted by Randi Weingarten and the teachers’ unions).

Covid did not set arbitrary limits on how far apart we should stand everywhere from in grocery stores to national parks, how many people should attend       Thanksgiving dinner or other family gatherings in our own homes, while either remaining silent or actively encouraging mass Black Lives Matter demonstrations;      the    government health bureaucracy and little totalitarians, such as Anthony Fauci and the ‘Scarf Lady,’ Deborah Birx, did.

And the press was complicit all the way.

 

https://johnalucas6.substack.com/p/covid-didnt-destroy-businesses-and

 

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[B-Man]

 

 

FEELING THE SQUEEZE: Bidenflation Soars To 18.8%, Squeezing Americans.

 

Despite a decrease from the highs of mid-2022, many families continue to face significant inflationary pressures. Prices have increased by 18.8%, while real wages have declined by 2.5%. Average hourly earnings for all employees dropped 2.5% to $11.11 in March 2024 from $11.39 in January 2021 when Biden assumed office.

 

According to Mark Zandi, the chief economist at Moody’s Analytics, the typical U.S. household now requires $1,069 more each month (equivalent to $12,828 annually) compared to three years ago, $784 more per month compared to two years ago, and an additional $227 per month compared to last year. The Allianz Life study found 67% are more concerned about paying bills now than their financial future.

 

Bidenflation and the Fed’s eleven rate hikes to reduce inflation have made housing unaffordable for many people and caused displacements. According to CBRE data, the average monthly payments on a new home soared to $3,322 in the third quarter of 2023. This marks a sharp 90% increase from late 2020, when it stood at just $1,746 before Biden took office. Rising rent and the end of pandemic-era protections are contributing to the homelessness crisis.

 

Therefore, it is unsurprising that inflation and food prices emerged as top economic issues among Americans in a recent nationwide TIPP Poll.

 

https://tippinsights.com/bidenflation-soars-to-18-8-squeezing-americans/#google_vignette

 

 

“Are you better off than you were four years ago?” should be on repeat from now until Election Day.

 

 

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[BillsFanNC]

 

[B-Man]

 

 

 

 

 

 

[B-Man]

 

 

Something a LEETLE Hinky With the Job Numbers Lately

JEFF COX FROM CNBC 

 

Calling the state of the U.S. jobs market these days stable seems like an understatement considering the latest data coming out of the Labor Department.

 

That’s because most of the past several weeks have shown that first-time claims for unemployment benefits haven’t fluctuated at all — as in zero.

 

For five of the past six weeks, the level of initial jobless filings totaled exactly 212,000. Given a labor force that is 168 million strong, achieving such stasis seems at least unusual if not uncanny, yet that is what the figures released each Thursday morning since mid-March have shown.

 

The consistency has raised a few eyebrows on Wall Street. The only week that varied was March 30, with 222,000.

 

https://www.cnbc.com/2024/04/19/something-strange-has-been-happening-with-jobless-claims-numbers-lately.html

 

 

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[Tommy Callahan]

 

[Big Blitz]

 

[Tommy Callahan]

Bidens inflation reduction act didn't seem to do anything but fill the right folks pockets 

 

What you wanna bet she wants her college debt paid 

 

 

[All_Pro_Bills]

On 4/23/2024 at 1:49 PM, Tommy Callahan said:

Bidens inflation reduction act didn't seem to do anything but fill the right folks pockets 

 

What you wanna bet she wants her college debt paid 

 

 

On this surface this young women's suggestion sounds ridiculous unless you apply it to the banking system and then realize that's more or less how it works.  The banks along with the Fed "create" money for more or less "free" and charge the rest of us a fee in the form on interest to use it.  Its quite a racket.

[Tiberius]

On 4/23/2024 at 1:49 PM, Tommy Callahan said:

Bidens inflation reduction act didn't seem to do anything but fill the right folks pockets 

 

What you wanna bet she wants her college debt paid 

 

 

GDP growth slowed sharply in first quarter. Sounds bad but it could/probably means inflation will further slow leading to rate cuts soon

 

Rates are not bad now, but a little boost with the cuts should make things purr along/

 

Russia's interest rates are 16% HA HA

[All_Pro_Bills]

26 minutes ago, Tiberius said:

GDP growth slowed sharply in first quarter. Sounds bad but it could/probably means inflation will further slow leading to rate cuts soon

 

Rates are not bad now, but a little boost with the cuts should make things purr along/

 

Russia's interest rates are 16% HA HA

The bad news is the PCE with adjusts GDP for inflation rose to 3.7% in Q124 which combined with a slowing GDP points to a stagflationary environment.  

[Tiberius]

9 minutes ago, All_Pro_Bills said:

The bad news is the PCE with adjusts GDP for inflation rose to 3.7% in Q124 which combined with a slowing GDP points to a stagflationary environment.  

You wish America would suffer that. Not happening 

[B-Man]

14 minutes ago, Tiberius said:

 

 

 

Bidenomics, Baby! Economic Growth Slowed Significantly in First Quarter

 

 

 

It's fine. Totally fine. The economy is great, thanks for asking.

 

The U.S. economy has 'slowed significantly' in the first quarter of 2024. Which we didn't need an economist to tell us.

 

 

https://twitchy.com/amy-curtis/2024/04/25/usatoday-economists-say-inflation-will-slow-down-after-surge-n2395459

 

 

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[The Frankish Reich]

22 minutes ago, B-Man said:

 

 

Bidenomics, Baby! Economic Growth Slowed Significantly in First Quarter

 

 

 

It's fine. Totally fine. The economy is great, thanks for asking.

 

The U.S. economy has 'slowed significantly' in the first quarter of 2024. Which we didn't need an economist to tell us.

 

 

https://twitchy.com/amy-curtis/2024/04/25/usatoday-economists-say-inflation-will-slow-down-after-surge-n2395459

 

 

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One man's slowing in growth is another man's soft landing (and associated Fed rate cut).

But hey, keep that glass half empty ...

[JDHillFan]

22 minutes ago, The Frankish Reich said:

One man's slowing in growth is another man's soft landing (and associated Fed rate cut).

But hey, keep that glass half empty ...

You are the one that believes the housing market is in good shape because some sellers may reap generational wealth, correct? Kudos are in order for belonging to a very exclusive group with that thinking. But hey, keep that glass about 1/10 full

…

[The Frankish Reich]

1 minute ago, JDHillFan said:

You are the one that believes the housing market is in good shape because some sellers may reap generational wealth, correct? Kudos are in order for belonging to a very exclusive group with that thinking. But hey, keep that glass about 1/10 full

…

Different thing.

The housing market: for every loser (the young person paying a high price for a home), there's a winner (the old person making a mint and retiring somewhere warm).

On the macro economic scale, an overheated economy means inflation. We just had that. The Fed raised rates to try to get things back in balance. So far it seems to be happening. Why is this bad? Inflation was bad, the cure for inflation is bad, everything is bad ...

[JDHillFan]

2 minutes ago, The Frankish Reich said:

Different thing.

The housing market: for every loser (the young person paying a high price for a home), there's a winner (the old person making a mint and retiring somewhere warm).

On the macro economic scale, an overheated economy means inflation. We just had that. The Fed raised rates to try to get things back in balance. So far it seems to be happening. Why is this bad? Inflation was bad, the cure for inflation is bad, everything is bad ...

It seems that people noticing everything around them is the one thing you actually find bad. 
 

[The Frankish Reich]

6 minutes ago, JDHillFan said:

It seems that people noticing everything around them is the one thing you actually find bad. 
 

Here's the WSJ worrying that things are too good and can't last. It seems that nobody on the right (old or new) can be happy these days.

 

https://www.wsj.com/economy/global/us-economy-strongest-world-imf-projections-8e707514

 

America’s Economy Is No. 1. That Means Trouble.

If you want a single number to capture America’s economic stature, here it is: This year, the U.S. will account for 26.3% of the global gross domestic product, the highest in almost two decades.

That’s based on the latest projections from the International Monetary Fund. According to the IMF, Europe’s share of world GDP has dropped 1.4 percentage points since 2018, and Japan’s by 2.1 points. The U.S. share, by contrast, is up 2.3 points.

China’s share is up since 2018, too. But instead of overtaking the U.S. as the world’s largest economy, the Chinese economy has slipped in size to 64% of the U.S.’s from 67% in 2018.

 

You sound like my mother. 75 degrees, sunny, gentle breeze. Me: what a fantastic day! Mom: but not for long! The weatherman says it may snow next week.

Edited Thursday at 06:36 PM by The Frankish Reich

[JDHillFan]

32 minutes ago, The Frankish Reich said:

Here's the WSJ worrying that things are too good and can't last. It seems that nobody on the right (old or new) can be happy these days.

 

https://www.wsj.com/economy/global/us-economy-strongest-world-imf-projections-8e707514

 

America’s Economy Is No. 1. That Means Trouble.

If you want a single number to capture America’s economic stature, here it is: This year, the U.S. will account for 26.3% of the global gross domestic product, the highest in almost two decades.

That’s based on the latest projections from the International Monetary Fund. According to the IMF, Europe’s share of world GDP has dropped 1.4 percentage points since 2018, and Japan’s by 2.1 points. The U.S. share, by contrast, is up 2.3 points.

China’s share is up since 2018, too. But instead of overtaking the U.S. as the world’s largest economy, the Chinese economy has slipped in size to 64% of the U.S.’s from 67% in 2018.

 

You sound like my mother. 75 degrees, sunny, gentle breeze. Me: what a fantastic day! Mom: but not for long! The weatherman says it may snow next week.

Bloomberg:

 

GDP advances an annualized 1.6%, slower than all projections

First-quarter core inflation measure accelerates to 3.7% rate

 

Frankish:

 

Of course! All good!

 

https://www.bloomberg.com/news/articles/2024-04-25/us-economy-expands-at-1-6-rate-trailing-all-forecasts