Cassidy: Biden Has the Same Contradictory Economic Approach That the UK Is Getting Bashed For
On Friday’s broadcast of CNBC’s “Squawk Box,” Sen. Bill Cassidy (R-LA) said the Biden administration has engaged in the same contradictory economic approach of engaging in a stimulatory fiscal policy through things like canceling student loan debt and the American Rescue Plan while, on the monetary policy side, the central bank is increasing interest rates in an effort to combat inflation that UK Prime Minister Liz Truss and the Bank of England have received widespread condemnation for taking.
Cassidy stated that the inflation issue is “two sides. It is supply side. Clearly, the high cost of fuel is driving up the cost of everything else, number one. But number two, people are criticizing Liz Truss and the Bank of England for simultaneously pursuing both a stimulatory policy and a let’s raise interest rate[s] policy. That’s what this administration’s done. … The Inflation Reduction Act, the canceling of student loans, the American [Rescue Plan] is a stimulatory policy working at direct odds to raising interest rates. And if you look at the American Rescue Plan, American real wages have fallen every month since. This is not an American rescue plan, this is an American hit job.”
Follow Ian Hanchett on Twitter @IanHanchett
Biden’s America: 1 in 4 Americans to Skip Thanksgiving to Save Money
One in five Americans are unsure if they will be able to cover the costs of Thanksgiving this year, and one in four plan to skip it to save money, a recent Personal Capital survey found.
The state of economic affairs in President Joe Biden’s America is affecting Americans’ holiday plans. According to the survey, one quarter of Americans are planning to skip Thanksgiving this year to save money, and one in five “doubted they would have enough money to cover the costs of Thanksgiving this year.”
More specifically, one-third expect their 2022 Thanksgiving dinner to be “smaller,” and 45 percent, overall, said they are “finically stressed” by Thanksgiving.
Further, Americans plan to take action to cut the cost of the celebration. Thirty-six percent plan to use coupons, 32 percent plan to compare prices, 28 percent will skip traveling, and another 28 percent plan to buy a smaller turkey.
Another 88 percent of Americans said they plan to cut “at least one dish” from their table to save money:
With financial strain and tightened budgets, the easiest way to save money this Thanksgiving may be to skip it altogether. A 2021 IPSOS survey found that 9 in 10 Americans planned to celebrate Thanksgiving last year. But our survey found that this year, only around 7 in 10 had plans to do so.
The survey coincides with the latest Consumer Price Index report, showing prices 8.2 percent higher than they were one year ago:
The monthly figures show inflation is accelerating. After falling to zero in July, the headline consumer price index has risen for two straight months. In August it was rising at a 0.12 percent rate. Core prices were up 0.31 percent in July and 0.56 percent in August.
…
Food prices rose 0.8 percent in September, matching the previous month’s figure. Compared with a year ago, prices are up 11.2 percent. Prices of food purchased for home consumption—known to the rest of us as groceries—rose 0.7 percent for the second straight month. These are up 13.0 percent compared with a year ago.
The survey was taken among 1,000 Americans and has a +/- 3 percent margin of error.
WALMART IS A DOCUMENTED GOOD EXAMPLE OF WHAT THE BILLIONAIRE CLASS GETS AWAY WITH.
FUK THEM AND THE BILLIONAIRE WALTON FAMILY!
THERE WAS A TIME WHEN WALMART USED ILLEGALS TO CLEAN THEIR STORES. THEY LOCKED THEM IN AT NIGHT. ANYTHING TO AVOID PAYING LIVING WAGES.
ALL 'CHEAP' LABOR IS HEAVILY SUBSIDIZED BY MIDDLE AMERICA!
15 Reasons Why Walmart Is The Worst Company In America
VIDEO
20 Signs Of The Staggering Decline Of The American Middle Class Family
https://www.youtube.com/watch?v=nHc3TS2JFzU
We just got more evidence that the middle class is being systematically destroyed in America. At this point, millions of people out there have already grown accustomed to barely scraping by from month to month. But that is not what being “middle class” is supposed to be about. Middle-class families should be able to make more money than they have to spend on everyday necessities because is only by doing so that they can build long-term wealth. Unfortunately, income growth has not kept up with the pace of the rising cost of living, and millions of households have taken massive amounts of debt. At the same time, the labor market doesn't offer good-paying jobs that support middle-class life, and the lack of these positions has been contributing to the decline of this income group all across the country. In the early 1970s, the middle class accounted for around 60 percent of the population, but now middle-income households are rapidly becoming a minority in the United States. And as economic conditions continue to deteriorate, millions of hard-working families all over America are being stretched financially like never before. “In America, the middle class can no longer afford retirement. Middle-class Americans face sharp economic inequality, with ownership of financial assets highly concentrated among the wealthy,” explained Tyler Bond, NIRS research manager. “Now that we have a retirement system largely built around the individual ownership of financial assets in 401(k) accounts, middle-class Americans are struggling to accumulate sufficient financial assets during their working years. This means the retirement outlook for many in the middle class is bleak at best.” Since the onset of the health crisis, the U.S. economy has been decaying at an alarming pace. Over the past two years, the middle class has gotten smaller and smaller in this country, and now it seems that another economic downturn is upon us once again. So many families are already living on the edge right now. Recent surveys have exposed that well over 50% of the population is living paycheck to paycheck and that most Americans don't have emergency savings or a financial cushion to fall back on. When you are living on the edge, there is always a danger that you could fall over. Since 2020, we have never seen so many middle-class Americans falling straight into poverty. In other words, unless dramatic changes happen in America, the middle class is going to be absolutely eviscerated in the next decade. We must wake up now. The middle class is dying right before our eyes, and if we want to save it, we must take action now. Today, we compiled a series of new numbers that expose the rapid downfall of the U.S. middle-class.
It's Too Late To Stop This Now, Get Your House In Order
https://www.youtube.com/watch?v=3u7173SPBF8
15 Signs That The Social Decay In America Is Worse Than It Has Ever Been Before
The social fabric of the United States is rapidly deteriorating. Right now, virtually any measure of social welfare is showing us that social decay in America is accelerating at a very shocking pace. Our main institutions are either being dismantled or falling apart. At the same time, civil disorder continues to trigger unprecedented chaos in several parts of our country. Millions of Americans don't have access to proper housing, food, and education, and the gap between the 'haves' and the 'have-nots' has never been wider. The lack of proper education to help Americans thrive and accomplish financial stability is another sign of societal breakdown. Most colleges and universities are failing in one of their most basic missions: to equip students with the tools they need for a career. Millions of students graduate each year totally ill-prepared to earn a living and pay off the debt they’ve accumulated getting their degrees — at least 40% of those who start college don’t finish within six years. Despite these problems, colleges continue to raise tuition and to pay for these ever-increasing costs, students are borrowing more money and taking on more and more debt. And with federal loans accounting for much of the $1.5 trillion in outstanding student loan debt, and more than a million people defaulting on their loans, taxpayers are picking up much of the tab for this broken system while our younger generations remain utterly unprepared for the challenges of adult life. In the world’s wealthiest country, more and more people are living on the streets. Homelessness is a significant indicator of social decay. There are 750,000 Americans who are homeless on any given night, with one in five of them considered chronically homeless. Around 70% of the homeless are individuals, and families with children make up for the remaining 30%. Living without proper access to housing puts many people in very a vulnerable position, oftentimes, their lives are at risk. An examination of 20 US urban areas found that around 13,000 homeless people are victimized by disease, extreme weather, and substance abuse every year. The number of victims shot up by 77% in the five years ending in 2020. Today, the average life expectancy of a homeless person in America is just 50 years. There will be no future for us if we stay on this highly self-destructive path. The choices that we make individually and collectively as a nation are critical for the health of our society. Throughout all human history, great empires have fallen because societies have consistently made the wrong choices. So if we want to prevent the downfall of America, we must start making better choices. But if we are going to change direction, we better start doing it now because time is running out, and it won’t be too long before it is gone completely. Today, we decided to expose some worrying facts about the social breakdown happening all around us.
VIDEOS:
Why New York’s Billionaires’ Row Is Half Empty
https://www.youtube.com/watch?v=Wehsz38P74g&t=1439s
15 Signs That America Is In Much Worse Trouble Than We All Thought
https://www.youtube.com/watch?v=bafVveN1qlc
Today, we brought you some numbers that may be hard to digest. Even though most of us know by now that America is in trouble, many people out there don't have any idea of how deep in trouble we really are. Offense rates are shooting up tremendously right now. As the cost of basic necessities escalates, more people are stealing to feed themselves today than in any other period in the past decade. Gas theft rates are skyrocketing, as prices rise above the $5-dollar-mark. Since January, the number of carjackings has gone up by over 300% in some cities. Officers say that it's not just a few gallons being siphoned from vehicles. Now, thieves are pumping thousands of dollars' worth of fuel from gas stations and selling it for a profit. CNN reported that, in Orlando, Florida, authorities are looking for two people who they say stole more than 1,000 gallons of fuel from a gas station. In Las Vegas, Nevada, highly modified vehicles are being used to steal tens of thousands of gallons from local gas stations. And in Greenville, South Carolina, several arrests for gas thefts have been made since January. Last week, in North Carolina last week, almost 400 gallons of gas were stolen by thieves who were able to bypass the payment system. The list goes on and on, and given that gas prices are expected to continue to rise, we’re going to see many more similar cases happening until the end of the year.
Meanwhile, on dividedness, the U.S. ranks No. 1. A Pew Research Center Survey of 20 developed nations found that Americans were the most likely to say their society was split along partisan, racial, and ethnic lines. The U.S. also reported more religious division than almost any other country surveyed. The truth is that our country is rapidly falling apart. Since the 1970s, economic inequality in the U.S. has skyrocketed, leaving many Americans living paycheck to paycheck while the nation’s top earners hoard all the gains from economic growth. It's actually been 11 years since the last federal minimum wage hike, the longest span the baseline wage has gone without an increase since it began in 1938. Since the last federal minimum wage hike — to $7.25 an hour, starting July 24, 2009 — the cost of living has shot up by 20%, while the price of essentials such as housing and health care have increased even faster. The average rent back in 2009 was about $1,132, adjusted for inflation. On top of all that, the U.S. manufacturing sector is facing a historic slowdown right now, which is quite alarming given that about 12% of the nation’s total output comes from manufacturing. And the supply chain disruptions we’ve seen so far are just a hint of the chaos we are going to witness this year. As we enter peak shipping season, shipping information company Frieghtos estimates that by August the price to ship one 40-ft container from China to the US East Coast will shoot up to more than $20,000, almost twice as high as shipping rates were in January, and a 500% increase from 2019 levels. Our living standards are decaying and, at this point, we all can see our quality of life evaporating right before our eyes. That's why we compiled some sobering statistics that reveal that the crises we're facing are far more severe than most of us imagine. For more info, find us on: https://www.epiceconomist.com/ And visit: http://theeconomiccollapseblog.com/
Prepare for the EVICTION WAVE about to hit US Housing Market (13 MILLION NOW IN DEFAULT)
https://www.youtube.com/watch?v=L-XhzvHUgB0
Why New York’s Billionaires’ Row Is Half Empty
https://www.youtube.com/watch?v=Wehsz38P74g&t=1439s
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