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American households have seen their purchasing power increase

Phys251

Phys251

Purge evil with Justice
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It's no wonder the household income is increasing. The adult kids can't even afford to move out essentially bringing in more income into the household.
 
ALiberalModerate said:
I don't think most people feel it though.

Grocery prices are up 26% since 2020. Restaurant prices are up 22% since then. Rent is up 32% since 2020. Home prices are up 41% since 2020.
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Inflation, which was global, has eased here. Down to about 3% from higher levels, and not nearly as bad as many other countries.
 
Phys251 said:
Inflation, which was global, has eased here. Down to about 3% from higher levels, and not nearly as bad as many other countries.
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Do you think people give a shit about when it's time to vote? Do you think someone living paycheck to paycheck says "I know these grocery prices are killing me, but it's worse in the UK..."?
 
ALiberalModerate said:
Do you think people give a shit about when it's time to vote? Do you think someone living paycheck to paycheck says "I know these grocery prices are killing me, but it's worse in the UK..."?
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They're free to shoot themselves in the foot with tRump trade wars.
 
Phys251 said:

Good news for the average American.
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You still buying into Joe’s election-year drivel that his economy’s booming? 😆 His Labor Department took an eraser to about 25% of the jobs he supposedly created last year. Turns out they were a phantom. And most of the rest were just getting the economy back to pre-pandemic levels in industries like leisure and hospitality. Since its peak one year ago, the United States as had a net loss of 595,000 full-time jobs, hardly anything to crow about. Many of those people would be happy to have any good news, even an offer for a job at McDonald’s.

So when it comes to government bureaucrats and Joe’s fanboys in the media trumpeting good news, put me in the skeptic department. I mean, voters could use some good news, because their real incomes have been on a steady decline for the last half century. Relative to gold—a real measure of the value of a fiat currency and not based on some half-baked inflation index concocted and continuously revised to reflect a more rosy scenario by government bureaucrats—the dollar has lost 98% of its purchasing power since the U.S. went off the gold standard in 1971. Going forward, things aren’t likely to get better in the longer run as our government embraces historically-high levels of spending and debt as a percentage of national output. We’re currently on a parabolic rise to oblivion.

The CBO just came out with a new report and revised projections for government debt and deficits over the next ten years. It’s now projecting an additional $20 trillion in debt. That’s an average of $2 trillion annual deficits, folks, and this is using typically rosy CBO assumptions, such as continued historically-low levels of unemployment and inflation. At some point the Federal Reserve will be forced to monetize this debt by buying it, or the government will get commercial banks to buy it. It will be either that or interest rates will rise as borrowing demand exceeds the supply of suckers willing to take an annual haircut in purchasing power as they did through most of the last two decades.

So thanks to massive levels of government, corporate, and household debt, what we’ll end up with is slow growth and falling living standards for Americans who don’t own assets and depend on wages or pension income to fund their households. If anyone thinks they’re pissed off now, just wait.
 
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