JP Morgan says 99 % of Americans will be worse off financially by mid-2024!

[MarathonMike]

Ruh Roh! Sounds like Bidenomics is an unmitigated disaster! Ah but it's just JP Morgan what do they know about finances, right?

99% of Americans will be financially worse-off than they were pre-pandemic by mid-2024, JPMorgan says

Within months, all but the top 1% of consumers will likely be doing worse than they were before COVID, in the bank's view.

finance.yahoo.com

 

[HikerGuy83]

 

[drudge X]

When the administration tells you inflation or unemployment is low, times the number the administration releases by 4. That's the actual percentage.

 

[Harpy Eagle]

Ruh Roh! Sounds like Bidenomics is an unmitigated disaster! Ah but it's just JP Morgan what do they know about finances, right?

99% of Americans will be financially worse-off than they were pre-pandemic by mid-2024, JPMorgan says

Within months, all but the top 1% of consumers will likely be doing worse than they were before COVID, in the bank's view.

finance.yahoo.com

bullshit.

We are no where near the top 1% and we are making easily 60 grand more than we were in 2019

 

[airplanemechanic]

bullshit.

We are no where near the top 1% and we are making easily 60 grand more than we were in 2019

Revenue from prostitution doesn't count.

And I'm calling bullshit on your little story, too. NOBODY I know is making anything like we were in 2019. Adjusted for inflation, I'm making less now than I did during my first year driving 7 years ago.

 

[Crepitus]

Revenue from prostitution doesn't count.

And I'm calling bullshit on your little story, too. NOBODY I know is making anything like we were in 2019. Adjusted for inflation, I'm making less now than I did during my first year driving 7 years ago.

Bullshit. I'm living on investments and making more now than before I retired.

 

[rampart]

Ruh Roh! Sounds like Bidenomics is an unmitigated disaster! Ah but it's just JP Morgan what do they know about finances, right?

99% of Americans will be financially worse-off than they were pre-pandemic by mid-2024, JPMorgan says

Within months, all but the top 1% of consumers will likely be doing worse than they were before COVID, in the bank's view.

finance.yahoo.com

what do you expect? legis;ate a tax code that favors 1% and look what you get.

 

[1srelluc]

bullshit.

We are no where near the top 1% and we are making easily 60 grand more than we were in 2019

But you have lost $12,207.00 worth of purchasing power on that 60K....That's not even figuring in the increased level of taxes you pay from all sources.

The US dollar has lost 20.3% of it's value since 2019.

Yeah, you are really raking it in.....Try again.

 

[Harpy Eagle]

Revenue from prostitution doesn't count.

And I'm calling bullshit on your little story, too. NOBODY I know is making anything like we were in 2019. Adjusted for inflation, I'm making less now than I did during my first year driving 7 years ago.

Dude, it is 2023, 2019 is 4 years ago, if anyone is not making more money they are doing something wrong.

About 2/3 of our increase is from my wife moving to the VA in 2019 which was a nice jump in pay, then in 2022 she moved to the ICU which comes with a very nice specialty pay increase along with step pay increases and a retention bonus the VA paid to nurses in specific departments.

Since that time I got my PMP and a promotion from just a worker to a team lead which came with a very nice raise and have gotten 2 more raises since then. If you do a good job for your employer, they will reward you.

As for inflation, in 2019 I was making a 70 mile round trip commute to work 4 days a week, now I do it 1 day a week so even with higher gas prices I am spending less on it. We had a house built last year and now both my housing cost and energy cost have gone down thanks to a small, new, more efficient house. My 401k is up about 280% since 2019.

The only thing worse off than in 2019 is my non-retirement investments as I took out money last year to put 20% down on the house we had built.

 

[Oldestyle]

bullshit.

We are no where near the top 1% and we are making easily 60 grand more than we were in 2019

Was your business closed due to Covid in 2019? I don't know anyone that's got more take home pay now compared to what they were making pre Covid. It's not even close.

 

[Oldestyle]

Dude, it is 2023, 2019 is 4 years ago, if anyone is not making more money they are doing something wrong.

About 2/3 of our increase is from my wife moving to the VA in 2019 which was a nice jump in pay, then in 2022 she moved to the ICU which comes with a very nice specialty pay increase along with step pay increases and a retention bonus the VA paid to nurses in specific departments.

Since that time I got my PMP and a promotion from just a worker to a team lead which came with a very nice raise and have gotten 2 more raises since then. If you do a good job for your employer, they will reward you.

As for inflation, in 2019 I was making a 70 mile round trip commute to work 4 days a week, now I do it 1 day a week so even with higher gas prices I am spending less on it. We had a house built last year and now both my housing cost and energy cost have gone down thanks to a small, new, more efficient house. My 401k is up about 280% since 2019.

The only thing worse off than in 2019 is my non-retirement investments as I took out money last year to put 20% down on the house we had built.

Your 401K is up how much?
And you got 3 raises in 4 years? Really? LOL

 

[luiza]

JP Morgan says 99 % of Americans will be worse off financially by mid-2024!​

And dead by end 2025.
No need to try and sugar coat the full message .

Perticularly splendid news methinks ,.Will change to an English speaking chat site mid year .

 

[ding]

It would be pretty hard to argue that - on average - people are not worse off today than pre-pandemic because of inflation.

 

[Oldestyle]

Your 401K is up how much?
And you got 3 raises in 4 years? Really? LOL

And your wife's pay went up by 2/3rds because she moved to the VA?

 

[Harpy Eagle]

Your 401K is up how much?
And you got 3 raises in 4 years? Really? LOL

280%.

One promotion and 2 other raises.

 

[Harpy Eagle]

And your wife's pay went up by 2/3rds because she moved to the VA?

I did not say her pay went up 2/3, I said 2/3 of our over all increase was due to her.

But yes her salary went up a lot due to a higher pay scale and then becoming an ICU nurse, as they get paid more than a straight up floor nurse due to the more technical aspect of the job.

 

[DBA]

Bullshit. I'm living on investments and making more now than before I retired.

Many investments are doing better now, but most were gutted in 2021 and 2022. I find it hillarious that Democrats, any who are so keen on taxing the “rich” so clearly aren’t in that category themselves, are all of sudden financial geniuses. They pulled out of the market before the downturn and put all their money into treasuries and of course pulled out of treasuries and put all their money back into the market for big gains of late. Only Biden Democrats are able to time the market so well. The reality is that most people lost money in the markets in 21-22 and the gains they are seeing now are just getting them back to even, if they are lucky. The losses coupled with out of control inflation over the last couple of years is a a double whammy for most.

 

[DBA]

I did not say her pay went up 2/3, I said 2/3 of our over all increase was due to her.

But yes her salary went up a lot due to a higher pay scale and then becoming an ICU nurse, as they get paid more than a straight up floor nurse due to the more technical aspect of the job.

So what you are saying is that your family’s income going up had little to do with anything Biden did, but more of a smart move by your wife.

 

[DBA]

280%.

One promotion and 2 other raises.

You 401k increased 280%? I find that really difficult to believe, unless you had $200 dollars in it before and contributed an additional $560.

 

[Harpy Eagle]

So what you are saying is that your family’s income going up had little to do with anything Biden did, but more of a smart move by your wife.

of course it had nothing to do with Biden, what kind of a fucking moron relies on the POTUS for such things?