A quick look at Bidenomics.
Let's see, at first it was all that boogeyman Putin's fault. Then, all of a sudden, inflation itself was just a crazy conspiracy theory. Next, the narrative became that it's all your fault!
And now, this sad game has moved on to blaming greedy corporations...
It Wasn't Me: Biden Activates FTC-DOJ Task Force To Peddle 'Corporate Greed' Conspiracy Theory
As the 2024 election approaches, the Biden administration has gone into overdrive to try and convince the general public that inflation isn't his fault - and instead, a scourge of corporate greed washed over the country like a plague.
Hey, what about the President, Congress and the Federal Reserve?
Nah, only a "far-right" "conspiracy theorist" would blame our "leaders"... our humble "servants"... lmao.
Heaven forbid blame gets placed where it belongs.
"Greedy" Corporations Are Causing Inflation! Or Are They?
In fact, producer prices have risen faster than consumer prices. That means businesses have only passed on some of their higher costs to consumers. If anything these “greedy” corporations have allowed consumers to gouge them.
Progressives like Nichols and those who promote big government have a vested interest in shifting the blame for inflation because the real culprit is government. As economist Daniel Lacalle explained, “Inflation is not a coincidence, it is a policy.”
Yes. Inflation is deliberate. It is policy. Inflation is a particularily brutal tax on the poor and those on fixed incomes.
Inflation: A Stealth Tax with No Maximum Rate
When the government spends more than it takes in, the difference is funded by issuing Treasury bonds, bills, and notes.
In a rational, un-manipulated market, a profligate spender that’s already more than $29 trillion in debt would have to pay high interest rates to issue a new set of IOUs. Today’s 10-year Treasury rate, however, is just 1.5%. That utterly irrational rate is the direct result of the Federal Reserve’s manipulation of the Treasury debt market.
What’s most critical to understand is that the Fed buys all those Treasury securities with new money created out of thin air. Unlike in earlier times, U.S. dollars aren’t backed by anything at all. Pouring trillions more of them into the economy can’t create enduring wealth, it can only sap the value of money that’s already in circulation.
This is where most people get confused, and I get it... Because, the idea that they simply create trillions of dollars out of thin air, is, well, totally ludicrous.
It is ludicrous.
In fact it's bat shit fucking crazy!
Nevertheless, here we are, and that's exactly what they do!
Income Needed To Afford A Home In The US Has Soared By 80% Since 2020
According to Zillow, the income needed to comfortably afford a home in the US has leapt 80% since 2020, far exceeding what the BLS reports has been a 23% increase in median household income over the same period.
The real estate website found home buyers today need to make more than $106,000 a year, up $47,000 from 2020, a change driven largely by higher prices and borrowing costs.
While buying a house has grown out of reach for most Americans, current homeowners are losing their homes at a record pace too.
BIDENOMICS: Home Foreclosures Rising Nationwide – By 50 Percent or More in Some States
In another sign that Biden is leading the country to ruin, home foreclosures are rising across the nation.
Retirement plans are in big trouble.
Retirement Crisis Faces Government And Corporate Pensions
The single biggest threat that faces all pension plans is demographics. That single issue can not be fixed as it takes roughly 25 years to grow a taxpayer. So, even if we passed laws today that required all women of birthing age to have a minimum of 4 children over the next 5 years, we would not see any impact for nearly 30 years. However, the problem is running in reverse as fertility rates continue to decline.
The entire social support framework faces an inevitable conclusion where wishful thinking will not change that outcome. The question is whether elected leaders will make needed changes now or later when they are forced upon us.
For now, we continue to “Whistle past the graveyard” of a retirement crisis.
The population is in decline.
Everywhere.
Global Population Set To Fall For First Time In 700 Years
A major study published in scientific journal The Lancet has found that the global population will start to fall within decades due to vastly reduced fertility rates and may never recover.
The study, funded by the Bill & Melinda Gates Foundation, found that by the year 2050, 155 of 204 countries are on course to have birth rates lower than required to sustain the population level.
What a mess.
Government created chaos.
