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.
* * *
In order to fix it, they have to remove dollars from the system to right-size inflation. However, if they do that, the debt grows as a share of GDP because you can only right-size the debt by stopping it and paying it down.
We are doing so well, we don’t have to worry about the cost of illegals or of forgiving student loans, and we can freely help Ukraine with many hundreds of billions of dollars for something that could have been handled with a peace treaty.
Everything is fine!
The economy was a powerhouse just 4 years ago.
Lowest unemployment in history across all demographic groups.
But now the priority is to get full employment for illegal aliens.
bttt
FR Democrat Party operatives will argue with you about that...
Think is all because of criminal Biden and those who support him. May they all rece Righteous justice. Soon.
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.
Four years ago we weren’t buying oil from our enemies. We were producing our own. Funny how that works, isn’t it.
This author is real BIG on “doom porn”.
but the big elephant in the room, is this,
As long as we tolerate modern school Democrats in our country we are Phaqued.
Get rid of the white, black, and brown hard cases and we will do fine.
Case in point, Name one fiscally and healthy Democrat run city. Can’t do it, they don’t exist.
Thank a Democrat for the destruction of America.
Interest on the federal debt is now so immense that it's consuming 40% of all personal income taxes. The largest source of revenue for the federal government is increasingly being devoted to just servicing the debt, not even paying it down.
The problem is getting worse daily . . .
US national debt tracker for April 12, 2024: See what American taxpayers (you) owe in real time
Thanks to a combination of high inflation, rising interest rates and unrelenting growth in the national debt, interest payments are expected to triple from nearly $475 billion in fiscal year 2022 to a stunning $1.4 trillion in 2032.
Given that the left refuses to cut spending on wasteful communist-socialist pogroms and too many politicians overall refuse to cut spending on pork . . .
Some time within the time-span of mid 2027 on up to mid 2029, all of personal income taxes will be paying all of the interest on the national debt. None of personal income taxes, will be paying down the national debt.
With that in mind, along with the bottlenecks, chokepoints, and roadblocks created by government bureaucratic regulations, weighing heavily on what American producers can/might do . . .
Plus the theft by the left, as the left steals what it can by way of thoughtless Biden (and successor) socialist-group-think edicts . . .
Dodging recently-re-released criminals between workplace and home . . .
The millions (and millions) of fedgov employees say thank you.
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.
Short term deflation, unfortunately, but that’s the only way I am aware of to tackle inflation is to remove dollars to make them more valuable.
make this govt pay you for all the years you paid, and paid and paid...the longer we live they more they have to spend on us...
for us, we are definetly going from middle class down....our property tax will be the end of us....
now look....
yeah the govt class will be the target of the masses....just like in Russia and France...
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