Posted on 02/18/2023 8:13:51 AM PST by Kaiser8408a
The US economy, despite the tight labor market, has been shot through the heart by Biden’s economic policies. The Biden Administration (aka, Obama’s third term as President) is giving government a bad name.
On the corporate side, US bankruptcies in 2023 had the worst start to a year since 2010 and the financial crisis.
On the personal finance side of the ledger, the delinqueny rate on credit cards is growing at the faster rate since 2010.
Throw in 22 straight months of negative REAL wage growth, and have a scary situation facing middle America.
And the shate of outstanding subprime auto debt (30 days or more delinquent) is up to the highest rate since … well, you know when. The financial crisis of 2009-2010.
The US middle class is living on a prayer, because Washington DC doesn’t care.
But don’t worry. Mayor Pete, the EPA and Ohio governor Mike DeWine claim the air is good to breath and the water safe to drink in East Palestine Ohio.
(Excerpt) Read more at confoundedinterest.net ...
On the corporate side, US bankruptcies in 2023 had the worst start to a year since 2010 and the financial crisis.
They can mean what ever the reader wants them to mean.
UNLESS you read the article.
Some folks are killing themselves. Lots of folks have chosen to spend credit with the belief the good times are coming, instead of budgeting and saving. Its hilarious
But unemployment is down, pay is up, inflation is down, GDP is up. The details tell the real story. No single economic indicator tells the whole story, and even seemly positive indicators don’t necessarily mean the same as they did in the past. Take GDP for example. It’s positive, but government spending is a component of GDP. Trillions of dollars in government spending make the GDP look better than it is. At no time in our history have we had as much government spending. Of course government spending has other consequences, quite negative too. Adherents to modern monetary policy won’t talk about that.
BidenDepression 2023
Killing the country
Just like his boss
Continuing his work
Biden is giving America a bad name.
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