If he’s the answer….what’s the question?
Banks Preparing for 2022 Recession (NO MORE LOANS)
THE NEXT HOUSING CORRECTION WILL NOT BE PRETTY! MIDDLE CLASS GOING BROKE, BUYERS WILL BE THE WEALTHY
It takes someone in the tank, if not brain-dead, to call this a 'Goldilocks econony'
Nonfarm business sector labor productivity decreased 7.3 percent in the first quarter of 2022, the U.S. Bureau of Labor Statistics reported today, as output decreased 2.3 percent and hours worked increased 5.4 percent. This is the largest decline in quarterly productivity since the third quarter of 1947, when the measure decreased 11.7 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the same quarter a year ago, nonfarm business sector labor productivity decreased 0.6 percent, reflecting a 4.2-percent increase in output that was outpaced by a 4.8-percent increase in hours worked.
The share of Americans in poverty in 2019 declined and median incomes were the highest on record, a Census Bureau report showed.
VIDEO
If it’s illegal…..they won’t do it
https://www.youtube.com/watch?v=LiuhA84ut-8
THE ECONOMIC DECLINE IS BEGINNING TO WAKE UP THE MASSES! THE FINANCIAL STORM GETS DARKER, PRICE PAIN
So, while we in America are getting a fair number of sex traffickers; mountains of fentanyl; low skilled, illegal workers who drive down wages; and more welfare mouths to feed, the Latin Americans who come here mostly want to work and mostly hew to traditional western, Christian values.
ANDREA WIDBURG
VIDEO
20 Signs Of The Staggering Decline Of The American Middle Class Family
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.
Economic Gloom Hits Worst Level in 50 Years
A severe pessimism grips the U.S. economy and Americans report the highest level of dissatisfaction with their financial situation in at least half a century, poll results released Monday show.
Eighty-three percent of Americans describe the state of the economy as poor or not so good, according to a Wall Street Journal-NORC Poll. Only one percent describe the economy as “excellent.”
The poll results show just how much inflation has damaged the U.S. economy and the perceptions of Americans about their own financial well-being. The Consumer Price Index in March was up the most in 40 years and the April inflation rate was close behind it. The government will release figures for May’s price level on Friday.
Thirty-five percent said they are not at all satisfied with their financial condition, the highest level of dissatisfaction since NORC began asking the question every few years starting in 1972.
Sixty-three percent of Americans say they are extremely or very concerned about the price of gas. Fifty-four percent say they are extremely or very concerned about the impact of high grocery prices on their household’s financial situation. Just 13 percent say they not very or not at all concerned about gas prices and 19 percent about grocery prices.
The share of Americans who think they can improve their standard of living has plunged. Just 27 percent now say they have a good chance of improving, down from 47 percent a year ago. Forty-six percent say they don’t have a good chance of improving their standard of living.
Only 38 percent of Americans say they are generally optimistic about the opportunity for most people to achieve the American dream. Sixty-eight percent say they are generally pessimistic.
President Joe Biden is reportedly “seething” over his failing presidency as his approval numbers have tanked due to the overwhelming pessimism over the economy. A separate poll by ABC/ISPOS showed that 61 percent of Americans disapprove of Biden’s handling of the economy, 71 percent disapprove of his handling of inflation, and 72 percent disapprove of his handling of gas prices. Sixty-one percent also disapprove of Biden’s tax policies. Twenty-one percent say inflation will be their single most important issue when they vote in the midterms.
Migrant enclaves already are at the top of the U.S. lists for bad places to live - 10 of the 50 worst places in America to live according to this list are in California, and all of them are famous for their illegal populations.
MONICA SHOWALTER
THE NEXT HOUSING CORRECTION WILL NOT BE PRETTY! MIDDLE CLASS GOING BROKE, BUYERS WILL BE THE WEALTHY
https://www.youtube.com/watch?v=aRqfdbJOVrg
With Biden in office, America’s southern border
has vanished entirely.
https://mexicanoccupation.blogspot.com/2022/06/is-joe-bidens-open-borders-destroying.html
So, while we in America are getting a fair number of sex traffickers; mountains of fentanyl; low skilled, illegal workers who drive down wages; and more welfare mouths to feed, the Latin Americans who come here mostly want to work and mostly hew to traditional western, Christian values. ANDREA WIDBURG
AS IN MOST CITIES OF AMERICA, MOST CRIME IN CALIFORNIA IS PERPEATRATED BY BLACKS
California's Crime Wave - What's the Problem? | Full Documentary
LOS ANGELES: MEXICO'S SECOND LARGEST CITY
Lost Angeles: City of Homeless
https://www.youtube.com/watch?v=SJt3xuTPRVU
We Are Witnessing A Last Minute Mass Exodus Before The Final Collapse Of Our Major Cities
California County Sees Average Gas Price Soar Above $7 per Gallon
California is maintaining its status of having the highest gas prices in the nation, with one county in particular seeing prices soar above $7.00 per gallon for regular fuel.
The nationwide average price for gas jumped yet again on Monday, breaking another record of $4.865 per gallon. That reflects a nearly $0.25 cent jump in the last week, a nearly $0.59 rise in the last month, and a $1.81 rise in the last year.
Mid-grade gas has hit a national average of $5.218, and premium is now $5.510. Diesel also hit another record on Monday, reaching $5.645.
No state in the nation is seeing an average price below $4.00, and several states have an average of $5.00 or more. Those states now include Indiana, Michigan, Illinois, Washington, Arizona, Nevada, Oregon, Hawaii, Alaska, and California, the last of which has the highest gas price average in the nation — $6.341, which is more than $1.47 higher than the average price nationwide. San Francisco County, for instance, is seeing an average of $6.590 per gallon. Mono County is experiencing the highest gas price average in the country, with prices soaring over $7.00, standing at $7.044.
According to AAA, the demand for domestic gas rose last week in the midst of Memorial Day weekend, despite one-third stating that the price of gas affected their Memorial Day plans.
“People are still fueling up, despite these high prices,” AAA spokesperson Andrew Gross said in a statement. “At some point, drivers may change their daily driving habits or lifestyle due to these high prices, but we are not there yet.
AP Photo/Cathy Bussewitz
Oakland neighborhood plagued by brazen crimes
San Francisco jeweler closes shop after multiple burglaries
California: No. 1 in Gun Control, No. 1 in ‘Active Shooter Incidents’
An FBI report on ‘Active Shooter Incidents’ in 2021 shows that California was the number one state for such incidents, with six incidents total.
California is also number one for gun law strength, the Mike Bloomberg-affiliated Everytown for Gun Safety noted.
According to the FBI, there were 61 “active shooter incidents” across the country in 2021 and 12 of the incidents met the definition of a “mass killing.”
California led the nation with six “active shooter incidents.”
California has universal background checks, an “assault weapons” ban, a “high capacity” magazine ban, a 10-day waiting period on gun purchases, a red flag law, gun registration requirements, a “good cause” requirement for concealed carry permit issuance, a ban on carrying a gun on a college campus for self-defense, a ban on K-12 teachers being armed on campus for classroom defense, a background check requirement for ammunition purchases, and a limit on the number of guns a law-abiding citizen can purchase in a given month, among other controls.
Additionally, ammunition purchases are only allowed if made through a state-approved vendor.
AWR Hawkins is an award-winning Second Amendment columnist for Breitbart News and the writer/curator of Down Range with AWR Hawkins, a weekly newsletter focused on all things Second Amendment, also for Breitbart News. He is the political analyst for Armed American Radio and a Turning Point USA Ambassador. Follow him on Instagram: @awr_hawkins. Reach him at awrhawkins@breitbart.com. You can sign up to get Down Range at breitbart.com/downrange.
VIDEOS
THE ECONOMIC DECLINE IS BEGINNING TO WAKE UP THE MASSES! THE FINANCIAL STORM GETS DARKER, PRICE PAIN
20 Signs Of The Staggering Decline Of The American Middle Class Family
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.
DEMOCRAT-CONTROLLED SANCTUARY CITIES IN MELTDOWN
Oakland neighborhood plagued by brazen crimes
San Francisco jeweler closes shop after multiple burglaries
The Democrat tax strategy that will tighten the noose around the middle class's neck
Current Treasury secretary Janet Yellen laid a colossal rotten egg when she floated the trial balloon of imposing a tax on unrealized capital gains. Not only would the gain be subject to possibly losing some of its value after the tax is collected, but the taxpayer still hasn't collected the actual proceeds usually necessary for paying the tax.
The bad news is that this really bad idea is still slithering around the fetid catacombs of D.C. The lipstick being put on this pig is the tried-and-true exploitation of envy and resentment for the rich. The late, great Walter E. Williams often opined that he wished there was some humane way to just plain get rid of the rich...so we could finally have an honest discussion about tax policy. It so happens that we are already in the throes of the severe consequences coming from years of punishing success and rewarding failure.
That such an evil idea would emanate and continue to be pursued is rather disturbing. Another problem is the overwhelming lack of economic and financial sophistication of the usual media. When Mr. Trump's 1995 tax return was illegally leaked to the press, a writer for the Associated Press stated that Trump wrote off (oy, vey!) depreciation on his income properties. The writer stated that only billionaires get to do such things. Actually, there are literally millions of Mom-and-Pop landlords in the U.S. who do exactly the same thing.
Before Mr. Trump was unceremoniously escorted out of office, he suggested indexing the tax on capital gains to inflation. After all, a significant portion of the bump up in price between buying and selling an asset is the result of the continuous devaluation of money. The rest is the actual increase in value...typically from increases in demand or decreases in supply.
Bottom line: Unflation is a poison pill in the upcoming midterm election. The politically opportunistic antidote is, as usual, the increased screwing of the taxpayers. After all, they can be expected to be fairly docile in their cooperation. Seems like a good path to pursue in paying off one's political supporters. (William Hogarth, who may be considered the father of illustrated political satire, is best known for his painting "Canvassing for Votes," which shows two rival campaigners...both bribing a citizen.)
The twisted logic behind the push to increase taxes as a remedy for inflation relies on reduction of the deficit. After all, it supposedly does not add to the increase in the money supply. We fiscal conservatives, however, focus on spending. Not only is spending excessive, but it's fairly non-productive, except when it comes to getting the votes of targeted constituencies. Can you say "student loan forgiveness"? Absent from the calculation is that having government suck more wealth out of the public milieu further pushes us toward recession.
Taxing capital gains also has subliminal consequences, particularly when it comes to real estate. Elderly long-term landlords face an enormous tax burden after years of inflation and appreciation. Some just let the property decay while expecting their heirs to get the adjustment in the tax basis when they inherit, and they can then sell while paying little if any tax. This is also known as allowing blight to fester.
Now we're starting to hear forecasts of recession. Paul Volcker stepped in back around 1981 and deliberately triggered a recession, while simultaneously putting the brakes on inflation, since Gerald Ford's "Whip Inflation Now" lapel button didn't seem to work.
There's a pretty good joke about economists: "this guy is such a great economist that he's predicted twelve of the last three recessions."
Image via Pixabay.
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