Posted on 04/12/2024 9:28:06 PM PDT by SeekAndFind
As we approach what is likely to be the most chaotic presidential election in U.S. history, troubling signs are starting to erupt for the U.S. economy. In fact, CNN is actually admitting that “the long-predicted storm clouds in the economy may actually be forming”. I can’t remember the last time that I saw a CNN article with a headline like that. But at this point, it is becoming extremely difficult for the mainstream media to avoid the truth. Inflation is getting worse at the same time that many key sectors of our economy are slowing down. If you thought that the last couple of years were rough for the economy, just wait until you see what is coming next. Tremendous turmoil is on the horizon, and the American people are becoming increasingly emotional about our rapidly growing economic problems.
On Wednesday, we learned that prices jumped even more than expected during the month of March…
Inflation jumped in March as prices for consumer staples such as gasoline edged higher and those for housing remained stubbornly high, suggesting inflation may be a bit stickier than it seemed just a few months ago, economists said.
The consumer price index, a key inflation gauge, rose 3.5% in March from a year ago, the U.S. Labor Department reported Wednesday. That’s up from 3.2% in February.
Lots of pundits on television are telling us that this is really bad news for Joe Biden.
But if prices were only rising at a 3.5 percent annual rate, that would be outstanding news.
In fact, if prices were only rising at a 3.5 percent annual rate I would not be concerned about inflation at all.
Of course by now everyone realizes that the way inflation is calculated has been changed repeatedly over the years and so the numbers that the government gives us are essentially meaningless at this point.
In order to get a realistic idea of how much prices are rising, we need to look at specific categories.
For example, Fox Business is reporting that the cost of energy “is up 36.9% from where it was in Jan. 2021″…
Tuesday’s inflation numbers punctuate what has been a dreadful three years for energy consumers. The overall cost of energy in March is up 36.9% from where it was in Jan. 2021, according to the Department of Labor’s Bureau of Labor Statistics.
Of course energy prices are going to go a lot higher than they are right now.
Just wait until Iran and Israel start lobbing missiles at one another.
Housing has become insanely expensive as well.
In fact, the average monthly mortgage payment on a newly purchased home has approximately doubled since Joe Biden entered the White House.
So how in the world can they possibly tell us with a straight face that inflation is in the low single digits if that is the case?
Home insurance rates are going into the stratosphere as well.
One 71-year-old retiree in South Dakota says that his home insurance payment went up by 110 percent in just one year…
Ken Brown is worried he is going to be forced out of his house if his home insurance premium continues to go up.
The 71-year-old retiree who lives near Rapid City, South Dakota, has seen his annual cover with American Family skyrocket almost 110 percent in the last year – from $1,665 to $3,490.
Ken is on a fixed retirement income, while his wife Valeria, 68, is still working to help cover the insurance bill – and a whole host of other rising costs.
Let’s be honest with ourselves.
The truth is that we are in the midst of the worst inflation crisis that any of us have ever seen.
Don’t let them gaslight you.
The price of food is also going nuts. At one location in California, a 40 piece order of Chicken McNuggets and two orders of large fries will now set you back more than 25 dollars…
A viral social media video about a $25 McDonald’s “deal” recently sparked an online debate about California’s minimum-wage increase.
A TikTok user who posts videos under the username @shannon_montipaya shared the video on March 27. She was in the drive-thru of a Southern California McDonald’s location when she saw a sign for a 40-piece Chicken McNugget meal deal, which also included two large orders of fries.
The price of the meal bundle was $25.39 — including sales tax, it would come to roughly $27. In the video, the social media user lamented that the meal didn’t even include a drink.
“OK, so it’s $25.39 for 40-piece nuggets and two large fries,” she said. “You couldn’t even throw in the Sprite?
With everything that is going on, I can certainly understand why Americans are getting so emotional about inflation.
Recently, one TikTok user racked up 5 million views when he posted a rant in which he boldly declared that “I cannot afford to live”…
Last week, a TikTok user posted an angry rant about the cost of living that’s since been viewed 5 million times on the platform, with tens of thousands of comments and shares.
“I make over three times the federal minimum wage and I cannot afford to live,” he shouts into the camera. “It is embarrassing to come out and say that it is a struggle to survive right now but I know so many people are struggling.”
Later, he concludes: “The American Dream is dead.”
Many of you can identify with that.
I have heard from so many readers that are deeply struggling in this economy.
Unfortunately, there are signs that things are about to get even worse.
For example, small business optimism in the United States has dropped to the lowest level in 11 years…
The failure of Bidenomics has crushed confidence among US small businesses to the lowest level in more than a decade, as the future path of inflation remains a significant concern. Readers must remember small businesses are vital to the economy, contributing 44% of the country’s economic activity and creating two-thirds of net new jobs.
The National Federation of Independent Business (NFIB) reported Tuesday that its small-business optimism index declined .9 points to 88.5, the lowest level since the second half of 2012 – or about when the US economy climbed out of the worst financial crisis ever.
And I was deeply saddened to learn that 99 Cents Only is moving toward liquidating all of their stores…
99 Cents Only shops will begin shuttering its hundreds of locations on Friday as the company moves toward total liquidation.
“99 Cents Only Stores, together with its financial and legal advisors, engaged in an extensive analysis of all available and credible alternatives to identify a solution that would allow the business to continue,” the company said in a press release.
“Following months of actively pursuing these alternatives, the company ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of 99 Cents Only Stores’ assets.”
Prior to the announcement, 99 Cents Only was operating 371 stores in the United States.
Of course we also recently learned that Dollar Tree and Family Dollar will be closing about 1000 stores.
All over America, stores that were once thriving will soon be boarded up.
This is what the future of our economy looks like, and many Americans are preparing for rougher times by purchasing large quantities of gold…
Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer.
In fact, sales are so brisk that analysts at Wells Fargo expect revenue “may now be running at” $100 million to $200 million a month, a rapid acceleration since bullion hit the warehouse club late in the summer of 2023.
Just like me, so many of you can feel what is coming.
A tipping point has arrived, and the outlook for the months ahead is very bleak.
The U.S. economy is going off the rails, and the worse things get the more frustrated the American people are going to become.
* * *
Bump to read later.
But inversely Paul Volcker's policy's drove interest rates up so fast that farming, manufacturing and construction had to lay vast amounts of people off (creating a 10% unemployment rate back when the numbers weren't fudged) and setting off a two year recession before balance was eventually restored.
Just saying that Silver Cloud had a Dark Lining. This Usurper Regime's printing too much money without backing worth combined with preposterous spiraling debt is either incompetence or deliberate destruction. Probably a combination of the two for maximum effect.
BTW - you were great in "Reservoir Dogs".
“The Rats won’t cut Social Security benefits, but they have no problem creating high inflation, or fudging the numbers to limit Social Security COLA’s.”
In other words, they have no problem cutting SS benefits.
The only way to that is to balance the federal budget. Good luck with that.
You are correct.
It’s a simple problem, but the politicians would rather destroy the country.
“Stagflation” and “Misery-Index” are terms the MSM needs to get familiar with....
You can destroy an ecnomy very quickly. OTH it takes generations to build it up.
We are in the “raiding the treasury” phase of empire collapse.
Volker crashed the ecnomy. He ruined many a young person’s life for many years to come.....
It is not the ONLY way. A 30-40% import tariff on all IMPORTED goods would raise revenue and take dollars out of the economy in a good way. Why? Because a tariff promotes DOMESTIC industry and keep dollars IN the USA. Oh, wait I forgot you “fiscal conservatives” hate US workers.
or a an import tariff that funds the deficit....
I support tariffs. God created nations for a reason. Free trade works within a country, but it does not work internationally forever.
Ironic thing is you just know those making these videos voted for Biden. Guess they don’t like what they voted for afterall.
And let me add that as long as child sacrifice is protected the economic gods will be placared and merciful.
The dems love inflation. It strips people of their savings - that they worked for all their lives - and makes them poor and dependent.
The ruling elite doesn’t care about rising prices - they get cost of living adjustments.
Dems made inflation and dems are fueling inflation by unrestrained spending.
To understand inflation requires no special analysis or looking at specific categories; just look at the gold price versus the dollar. For two hundred years the price of gold jumped around with some small variance, but was always bwtween $20 and $40 an ounce. As soon as we went off the gold standard and began to print money not backed by gold, it began to soar. Now it is around $2000 an ounce. That is the real measure of currency debasement, which is really what the consumer cares about.
The US pays more interest on debt than on the defense budget
https://www.msn.com/en-us/money/markets/us-natifnbonal-debt-interest-exceeds-defense-spending-cbo/ar-BB1lo464
“The corollary to simply removing dollars, is lowering the cost of production, so there are more goods for those dollars to chase. That’s what Volker did.”
Excellent point, but the Biden administration has done so much to increase the cost of production, it will be hard to correct.
Close low cost coal-fired electricty generation for a couple of years? If the plants were not destroyed, they will take months or years to restore to working order. Meantime, what happened to the laid off miners and closed mines? Repairing the Democrat damage to the economy will not be like flipping a switch.
The DemocRats have placed the US on a slippery slope to a Great Depression 2.0. And a lot of ways they have done it are not easily reversible.
Thats not what toilet brush head and Mello Yellen said. Why would they lie? >s
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