Is Bidenomics The Highway To Hell? US Existing Home Sales Declines 17 Of Last 19 Months As Fed Slowly Shrinks Balance Sheet (Federal Debt Exceeds $33 Trillion As Unfunded Liabities Exceed $194 TRILLION)

Confounded Interest ^ | 09/23/2023 | Anthony B. Sanders

[Kaiser8408a]

Is Bidenomics the proverbial “Highway to hell”?

The most recent report on US exisiting home sales showed that sales decreased in 17 of the last 19 months as The Fed tightens monetary policy to combat inflation caused by … 1) The Fed and 2) Bidenomics spending on green energy.

The US housing market will be “back in black” once Biden and Congress stop their reckless spending and borrowing. Biden has added $5,352,202 to the national debt since being selected (not by me!). That is a 19% increase in The Federal debt in just 33 months!

Not to mention the ludicrous $194 TRILLION in unfunded liabilities that the geezers in the Biden Administration (Biden is 80 and slipping into dementia) and the Geriatric wing of Congress (the US Senate) is home to fossils like Mitch McConnell (not looking well) and Diane Feinstein (90 and looking poorly). I didn’t forget about Nancy Pelosi (Communist-California) who is 83 and running for re-election. Younger doesn’t necessarily mean better since Pelosi’s nephew California governor Gavin Newsom is 55 years old and helped destroy California’s economy. Of course, the DNC will probably selected Newsom to replace scandal-ridden Biden as the Democrat in order to finish the job Obama started.

Existing-home sales slipped again in August as rising mortgage rates make housing prices the least affordable ever. Despite denials in many corners, a crash is underway.

The National Association of Realtors® NAR® reports Existing-Home Sales Decreased 0.7% in August.

If Biden bows out and Newsom runs for President … and loses, ewsom always has a career in Hollywood in vampire movies. “I will suck your (economic) blood!” – Count Newsom.

[Kaiser8408a]

AC DC should provide the music for Bidenomics.

[rktman]

!branDUHnomics! Lucky for us most Americans are not impacted by this temporary situation. /$

[BenLurkin]

Bidenflation sure has been ugly.

[RoosterRedux]

Liberals don't understand economics. They think business (hence economics) is all about greed and corruption.

So their economic policies are either non-existent or confused.

Whenever they do something positive for business it is either pure coincidence OR because they expect a kickback in some way (directly or indirectly).

[Theoria]

Cycles are a normal thing. Without drops in housing prices it would be very hard to buy one. The constant increase in home prices over decades does not reflect the nature of a healthy economy and people. Or the middle class and America, was a outlier.

Innovation, technology, and production advancements should reflect on housing. Instead, government fingers on the scale via artificial low interest rates for decades, nimby, tax advantages, global financial investments, outsourcing, have made housing unaffordable for many.

[entropy12]

Bidenflation is a direct TAX on middle class.

[henbane]

Not to mention the ludicrous $194 TRILLION in unfunded liabilities . . . .

We're moving rapidly, geometrically and inexorably towards the first One Quadrillion (0ne Thousand Trillion) Unfunded liability.

The laws of normal economics predict that the graveyard we've long been whistling past will open wide underneath our economic feet and swallow us up before we reach that Quadrllion mark.