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

[Harpy Eagle]

Keep up the good work

We will, for 5.5 more years and then I will never work another day in my life

 

[RoshawnMarkwees]

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

Kinda like when your girlfriend tells you how many dudes she’s had sex with.

 

[Greenbeard]

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

Great track record lately.

October 2022:

âThis is seriousâ: JPMorgan's Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months

JPMorgan Chase CEO Jamie Dimon warned that a "very, very serious" mix of headwinds was likely to tip both the U.S. and global economy into recession.

www.cnbc.com

November 2022:

JPMorgan Forecasts âMild Recessionâ In 2023â Hereâs What Major Financial Institutions Predicted This Week

JPMorgan economists predict the U.S. will contract by 0.5% in the fourth quarter of 2023.

www.forbes.com

March 2023:

'Already past the point of no return': JPMorgan says the U.S. is probably headed for a recession as economic 'engines are about to turn off'

If the U.S. economy does enter a downturn, it may have been long overdue, JPMorgan analysts say.

fortune.com

They'll get one eventually.

 

[justoffal]

Great track record lately.

October 2022:

âThis is seriousâ: JPMorgan's Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months

JPMorgan Chase CEO Jamie Dimon warned that a "very, very serious" mix of headwinds was likely to tip both the U.S. and global economy into recession.

www.cnbc.com

November 2022:

JPMorgan Forecasts âMild Recessionâ In 2023â Hereâs What Major Financial Institutions Predicted This Week

JPMorgan economists predict the U.S. will contract by 0.5% in the fourth quarter of 2023.

www.forbes.com

March 2023:

'Already past the point of no return': JPMorgan says the U.S. is probably headed for a recession as economic 'engines are about to turn off'

If the U.S. economy does enter a downturn, it may have been long overdue, JPMorgan analysts say.

fortune.com

They'll get one eventually.

The time bomb is once again....like it was in 2008.....the undeclared debt. It's not in the same places it was then....though I'm sure a lot of it is. It's being tossed back and forth like an over inflated beach ball and pops it's ugly head up here and there like when the budget times out and it's time to borrow more money from China. One of these volleys is going get missed and fall on the ground....like it did it 2008 when somebody finally announced that there was more than 50 trillion in falsely secured debt being hidden in the high level real estate bundles being sold as legitimate products even though they were actually garbage. It will happen again.

 

[Independentthinker]

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

It's amazing how much income inequality has grown exponentially since Biden took office to the point only the one percenters will have been better off since Biden took office.

 

[justoffal]

It's amazing how much income inequality has grown exponentially since Biden took office to the point only the one percenters will have been better off since Biden took office.

This is the economy that Biden is always bragging about. It does not translate down to the lower income brackets...in fact it flourishes at the expense of the lower brackets. Which is why even the lower income dems are laughing at him.

 

[Greenbeard]

This is the economy that Biden is always bragging about. It does not translate down to the lower income brackets...in fact it flourishes at the expense of the lower brackets. Which is why even the lower income dems are laughing at him.

The lower income brackets got wage increases in this economy.

Pay for low-wage workers grew 'tremendously fast' in the last 3 yearsâbut experts don't think it'll last

Workers in the 10th percentile, that is those making less than 90% of workers, saw a historic 9% increase in real wages (adjusted for inflation).

www.cnbc.com

Blue-collar hiring and pay gains stay hot in a cooling job market

High demand for miners, loggers and construction workers — and slowing job prospects for software and IT professionals — has taken a bite out of income inequality.

www.nbcnews.com

And cheaper health insurance.

Biden bill to help millions escape higher health care costs

Millions of people in the United States will be spared from big increases in health care costs next year after President Joe Biden signed legislation extending generous subsidies for those who buy plans through federal and state marketplaces.

apnews.com

 

[whitehall]

Regardless of who wins? What about the 1% that won't lose money? Remind me to take my money out of any JP Morgan investments.

 

[justoffal]

The lower income brackets got wage increases in this economy.

Pay for low-wage workers grew 'tremendously fast' in the last 3 yearsâbut experts don't think it'll last

Workers in the 10th percentile, that is those making less than 90% of workers, saw a historic 9% increase in real wages (adjusted for inflation).

www.cnbc.com

Blue-collar hiring and pay gains stay hot in a cooling job market

High demand for miners, loggers and construction workers — and slowing job prospects for software and IT professionals — has taken a bite out of income inequality.

www.nbcnews.com

And cheaper health insurance.

Biden bill to help millions escape higher health care costs

Millions of people in the United States will be spared from big increases in health care costs next year after President Joe Biden signed legislation extending generous subsidies for those who buy plans through federal and state marketplaces.

apnews.com

Nope....totally erased by dollar devaluation and increased medical costs. See....this is why the message fails....because it's an increase disguised as a decrease. Saying it's a decrease just pisses people off.

Paying for It: How Health Care Costs and Medical Debt Are Making Americans Sicker and Poorer

This survey shows that many Americans have inadequate coverage that’s led to delayed or forgone care, significant medical debt, and worsening health problems.

www.commonwealthfund.org

 

[Greenbeard]

Nope....totally erased by dollar devaluation and increased medical costs. See....this is why the message fails....because it's an increase disguised as a decrease. Saying it's a decrease just pisses people off.

Paying for It: How Health Care Costs and Medical Debt Are Making Americans Sicker and Poorer

This survey shows that many Americans have inadequate coverage that’s led to delayed or forgone care, significant medical debt, and worsening health problems.

www.commonwealthfund.org

That's real wage growth, it's inflation-adjusted and thus not "erased by dollar devaluation." And financial support for working families buying coverage is pegged to their income and the cost of coverage, their incomes are protected.

They're making more (wages) and paying less for insurance in the ACA marketplaces, thanks to Biden.

 

[sparky]

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.

anecdotal d*ck waving GG.....~S~

 

[justoffal]

That's real wage growth, it's inflation-adjusted and thus not "erased by dollar devaluation." And financial support for working families buying coverage is pegged to their income and the cost of coverage, their incomes are protected.

They're making more (wages) and paying less for insurance in the ACA marketplaces, thanks to Biden.

If only.....facts say otherwise.
The inflation numbers are inaccurate and therefore hide the real dollar rot experienced by the consumer who even now continues to slide into record personal debt. Once again your claims are empty because they don't reflect reality. Paying less for coverage has nothing to do with medical debt per capita. It only means that the insurance companies are limited in their billing practices. So to sum up:

REAL INFLATION: Closer to 20% than 2%.

Rising medical debt indicates less support not more. Common sense...ergo despite claims of lower premiums the total effect is higher cost.

THIS IS WHY THE POLLS HAVE NEARLY 70 PERCENT OF RESPODENTS LAUGHING AT THE. ""OFFICIAL"" Claims.

 

[Greenbeard]

If only.....facts say otherwise.

No, they don't. Declaring the facts are "inaccurate" and pulling random numbers out of your ass is not a refutation, it's a concession that making bullshit up is the only way to support your "argument."

 

[justoffal]

No, they don't. Declaring the facts are "inaccurate" and pulling random numbers out of your ass is not a refutation, it's a concession that making bullshit up is the only way to support your "argument."

Record medical debt and personal debt are not " making things up"....once again these are the facts not the OFFICIAL FAIRYTALES you are stuck on. There's nothing random about truth.
For Bullshit..check the CPI .... IT'S TOTAL. BS. This is why 70 percent of the nation is complaining....not because they make things but because they believe their own bank accounts and ignore fools like you who just carry water.