BIDENOMICS AS CORPORAT PROFITS SURGE - Poll: Skyrocketing Inflation Causing Financial Strains Across All Income Groups

 

BANKS ISSUE SUB-PRIME CREDIT CARDS AT RECORD LEVELS, RETAIL CARD RATES HIT ALL-TIME HIGHS

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Chris Hedges | Everything WRONG With America in 11 minutes

https://www.youtube.com/watch?v=OP5Je6XDUXk

Christopher Lynn Hedges (born September 18, 1956) is an American Pulitzer Prize-winning journalist, Presbyterian minister, author and television host. His books include War Is a Force That Gives Us Meaning (2002), a finalist for the National Book Critics Circle Award for Nonfiction; Empire of Illusion: The End of Literacy and the Triumph of Spectacle (2009); Death of the Liberal Class (2010); Days of Destruction, Days of Revolt (2012), written with cartoonist Joe Sacco, which was a New York Times best-seller; Wages of Rebellion: The Moral Imperative of Revolt (2015); and his most recent, America: The Farewell Tour (2018). Obey, a documentary by British filmmaker Temujin Doran, is based on his book Death of the Liberal Class. Hedges spent nearly two decades as a foreign correspondent in Central America, West Asia, Africa, the Middle East (he is fluent in Arabic), and the Balkans. He has reported from more than fifty countries, and has worked for The Christian Science Monitor, NPR, Dallas Morning News, and The New York Times, where he was a foreign correspondent for fifteen years (1990–2005) serving as the paper's Middle East Bureau Chief and Balkan Bureau Chief during the war in the former Yugoslavia. In 2001, Hedges contributed to The New York Times staff entry that received the 2002 Pulitzer Prize for Explanatory Reporting for the paper's coverage of global terrorism. He also received the Amnesty International Global Award for Human Rights Journalism in 2002. He has taught at Columbia University, New York University, the University of Toronto and Princeton University. Hedges, who wrote a weekly column for the progressive news website Truthdig for 14 years, was fired along with all of the editorial staff in March 2020. Hedges and the staff had gone on strike earlier in the month to protest the publisher's attempt to fire the Editor-in-Chief Robert Scheer, demand an end to a series of unfair labor practices and the right to form a union. He hosts the Emmy-nominated program On Contact for the RT (formerly Russia Today) television network. Hedges has also taught college credit courses for several years in New Jersey prisons as part of the B.A. program offered by Rutgers University. He has described himself as a socialist, specifically an anarchist, identifying with Dorothy Day in particular.

What's COMING Is WORSE Than a RECESSION - Jim Rickards

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Poll: Skyrocketing Inflation Causing Financial Strains Across All Income Groups

VLG/Getty Images

ETHAN LETKEMAN

7 Nov 20220

2:34

Skyrocketing inflation is causing major financial strains across all income groups, according to a recent Wall Street Journal-commissioned poll.

The poll found that 64 percent of all U.S. registered voters say high inflation is placing a strain on their finances. Furthermore, 36 percent said it is placing a major strain on their finances — up four percent from August and up eight percent from last year.

Across household incomes, 26 percent of voters earning between $100,001 and $150,00 reported that surging inflation is imposing major financial pressures on their families, a seven percent increase from August and 12 percent from March.

Fifty-four percent of respondents earning under $60,000 say they were experiencing major financial strains, up three percent from August and seven percent from March.

“The share of Americans with household incomes $150,001 and higher who reported major financial strains because of inflation remained stable compared to August but rose significantly from March,” the Hill reported.

Earlier in the year, annual inflation hit a 40-year-record high but has come down slightly since. Still, inflation is up by 8.2 percent since last year, with other basic necessities, such as grocery prices, rising by 13 percent, gasoline by 18.2 percent, and electricity by 15.5 percent.

With the midterm elections set to occur Tuesday, the poll found that 48 percent of voters believe that congressional Republicans would be better at handling inflation compared to 27 percent who say Democrats would be. The Journal also noted that Republican voters are more motivated to vote in the midterm elections than Democrats.

Furthermore, 43 percent of voters say Republicans controlling the House and Senate would be the best outcome for the country, compared to 36 percent who say it would be if Democrats controlled both chambers.

The poll was conducted by Republican pollster Tony Fabrizo and Democrat pollster John Anzalone on behalf of the Journal. It surveyed 1,500 registered voters nationwide by phone or text between October 22 and October 26. The margin of error is +/- 2.5 percent.

You can follow Ethan Letkeman on Twitter at @EthanLetkeman.

Reports

Foreign-Born Population Hits Nearly 48 Million in September 2022: An Increase of 2.9 million since the start of the Biden administration

By Steven Camarota and Karen Zeigler,

Excerpt: The Census Bureau’s monthly Current Population Survey (CPS) shows that the total foreign-born or immigrant population (legal and illegal) in the U.S. hit 47.9 million in September 2022 — a record high in American history — and an increase of 2.9 million since January 2021.

20 Facts That Food Shortages Will Get A Lot Worse As Fears Of A Dark Winter Rising

https://www.youtube.com/watch?v=4nXos19tZAo

The pain never stops. If you think that the empty shelves we're seeing are quite distressing and that food prices are extremely expensive right now, just wait until the winter begins. The food crisis that is unfolding before our eyes is getting worse by the day. Global food supplies were already tight in the past few years, but the food that wasn't produced in 2022 means that we're going to be hit by even harder challenges in the next few months. At this point, worldwide fertilizer prices have quadrupled, several countries started banning exports of essential commodities, tens of millions of chickens and turkeys have disappeared from the system, our domestic beef cattle herd has dramatically shrunk, and crazy weather patterns have resulted in the destruction of millions of acres of crops all over the planet. While rich countries will continue to face shortages and higher food prices, in more vulnerable countries, people are going to get desperate. "Fields are not being planted," emphasized Theo de Jager, the president of the World Farmers' Organisation. "I"m not so sure it's possible to avoid a food crisis. Farmers need peace," de Jager said. We haven’t even seen the worst of food shortages and price increases yet, but America’s food banks are already reaching a breaking point. All over the country, food banks are struggling to keep up with the increased demand they’re experiencing. Feeding America, one of the nation’s largest charities, with over 200 food banks and 60,000 food pantries, reported 85 percent of their food banks saw increased demand for food assistance. Their President and Chief Operating Officer Katie Fitzgerald says the organization is already dipping into emergency reserves, switching to cheaper products, limiting how often people can visit or how much food they can get, and "stretching their inventory to be able to meet more people's needs. "Our experience is that this rise in food and fuel costs are creating just as precarious a situation for people who are trying to feed their families as was the case during the pandemic. Inflation is devastating to the budgets of families, seniors, and people just barely getting by, driving more and more of them to food banks and food pantries,” Fitzgerald says. “The problem we’re seeing is that food banks are not immune to these inflationary pressures. So, while they’re dealing with longer lines at distributions, they face soaring costs and other challenges to their operations,” she added. A Feeding America survey found that inflation and supply chain issues are greatly affecting food banks, with 70% of their members reporting donations of food have decreased while operating costs have risen 95%. This is a confluence of many disasters hitting our food supply chains all at once, and the most worrying part is that experts say we haven't seen the worst of it yet. This winter is going to be exceedingly difficult for all of us. In this video, we compiled signs that show us just how bad things are about to get. For more info, find us on: https://www.epiceconomist.com/

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