Hyper inflation destroying American families.

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USA Hyper-Inflation – 157% in Past 3 Years​

USA Hyper-Inflation – 157% in Past 3 Years

(Dreamstime)
George Mentz
By George MentzWednesday, 10 April 2024 11:43 AM EDTCurrent | Bio | Archive



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This week, there are now more CEO’s saying that lending rates could get even worse and go up to new 40-year highs not seen since the Jimmy Carter debacle and Reagan’s landslide election of 1980.

The intersection of hyperinflation and escalating interest rates on various types of loans has disproportionately affected women and minorities, exacerbating existing economic disparities. The weak energy policies, increased fuel prices, and skyrocketing food prices have only become more harsh wiping out savings and discretionary income for working families according to the IMF.
The surge in inflation coupled with soaring interest rates has created a formidable financial burden, particularly evident in the realms of home loans, auto loans, student loans, and credit cards.

To illustrate, the average interest rate on a 30-year fixed-rate mortgage has skyrocketed by approximately 157.41% since January 2021, reaching 6.95% in March 2024. Other loan and bank products such as credit cards, student loans, and auto loans went up in a devastating fashion which continually injures working families.

Here are the 3-Year Changes of Costs for various types of loans:
  1. Credit Cards APR: 19%-29% Lending Rates Worse by 42.3%
    • Credit cards often charge higher interest rates than other loan products. Right now, most women and minorities are paying between 19 and 29% interest rates which kills savings, spending, and investing. These are loan shark style rates inflicted upon working families by government and banks.
  2. Average APR in 2020:
    o In 2020, the average annual percentage rate (APR) for new credit card offers
    in the U.S. was 14.71%
  3. Average APR in 2023:
    • As of Q3 2023, the average APR for new credit card offers stood at 20.93% but is generally around 24-25% for most.
Therefore, the average credit card APR increased by approximately 42.3% from 2020 to 2023.
  1. Student Loans Loan Rates also Double over 100% in Costs
    • Federal student loan interest rates are up over 100% in 3 years.
    • Rates vary based on the type of loan. For loans disbursed between July 1, 2023, and June 30, 2024: Presently, the average rate is over 9% which is up over 100% in the last 3 years.
2020-2021: Fixed interest rate of 2.750% applied for both subsidized and unsubsidized loans. The 2023-2024: The fixed interest rate of 5.5% was for both subsidized and unsubsidized loans. So, the percent change from 2.75 to 5.5 is 100%.

Thus, 43 million families with overpriced student debt are paying double the interest since President Trump left office.
  1. Auto Loans APR and Loans up 94.8% -
The Initial rate (December 2021): 3.85 percent and recent rate (September 2023): 7.5 percent
Auto loan interest rates depend on factors like credit score and lender. On average: New Cars: Around 7.1% APR and Used Cars: Around 11.6% APR

Therefore, the average auto loan rate hits working folks with a 94.81% percent higher punishment in costs over the last three years.
  1. Home Mortgage 30-Year Rates up 157% in 3 Years
    • As of now, the average interest rate for a 30-year fixed mortgage is approximately 6.95% according to the St. Louis Federal Reserve. Keep in mind that mortgage rates can get worse, and the 30 year loan rate costs are directly passed on to renters creating rental hyperinflation.
Calculating the percentage increase:
  1. January 2021: The average interest rate was a record low of 2.7%
  2. October 2022: The rate surged to a high of 7.08%
  3. Current Rate (March 2024): The average rate stands at 6.95%
Therefore, since January 2021, home loan interest rates have gotten worse by approximately 157.41%. This substantial rise has impacted affordability for potential homebuyers.
  1. Rent Costs 270% More Compared to Wages
    • Rent Costs - Rental prices hikes got much worse beating and surpassing annual wage increases by 270%.
    • Last year, many cities had a 30% Rent increase in year 2023 pummeling inner city minorities and youth.
  2. Small Business Lines of Credit Interest Rates up over 100%
Business lines of credit allow you to access funds as needed. Interest rates can vary widely from around 6% in 2020 to 13% today up over 100%: Presently, a small business in the inner city would pay about 9.00% to 75.00% APR% on average for a loan. Bank Rate reports SBA loans Fixed rate: 13.50% to 16.50% and Bad credit business loans from 20% to 99%+ APR. In 2021, the interest rates for SBA disaster loans was set around 3.75% for businesses and 2.75% for non-profit organizations, with long-term repayment options of up to 30 years.

Overall, this painful economic landscape not only complicates the path to renting or homeownership but also adds strain to managing existing debts, hindering financial stability among marginalized and ethnic communities.

As 2024 interest rates climb to loan shark rates, the accessibility of credit diminishes, perpetuating cycles of financial exclusion and widening the economic gaps for working folks who also already pay an outrageous totality of rates for sales tax, federal income tax, entertainment taxes, internet taxes, cell phone taxes, auto taxes, luxury taxes, real estate taxes, cable TV taxes, and local income taxes.

Furthermore, analysis suggests that nobody would even need student debt relief if the government had not intentionally raised lending rates on working families with debt by a staggering 100% on most loans.

All of this unnecessary calamity upon workers is occurring while many on public assistance receive tax free housing, food, and health care and do not feel any of the suffocating effects of hyperinflation with higher: rent costs, loan repayments, food costs, insurance costs, or health care costs.

In this volatile financial climate, it becomes imperative to address the disproportionate impact of hyperinflation, escalating interest rates, and rental costs on working families, women, children, and minorities.

To make a long story short, the math does not lie. According to the US Federal Courts, Business bankruptcy filings rose 40.4 percent, from 13,481 to 18,926, in 2023 .

This alone shows the effect of bad policies while millions of workers continue to struggle and run up credit card debt to a record $1.1 trillion. In the most recent inflation survey by Northwestern Mutual Life, Americans believe they need 53% more money to retire than they did just a mere 3 years ago. This data clearly shows that hyperinflation is seen by Americans as a 50% increase in the cost of living over the last 3 years which is destroying the middle class and working families.
________________


Read Newsmax: USA Hyper-Inflation – 157% in Past 3 Years | Newsmax.com
Important: Find Your Real Retirement Date in Minutes! More Info Here
 

USA Hyper-Inflation – 157% in Past 3 Years​

USA Hyper-Inflation – 157% in Past 3 Years

(Dreamstime)
George Mentz
By George MentzWednesday, 10 April 2024 11:43 AM EDTCurrent | Bio | Archive



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This week, there are now more CEO’s saying that lending rates could get even worse and go up to new 40-year highs not seen since the Jimmy Carter debacle and Reagan’s landslide election of 1980.

The intersection of hyperinflation and escalating interest rates on various types of loans has disproportionately affected women and minorities, exacerbating existing economic disparities. The weak energy policies, increased fuel prices, and skyrocketing food prices have only become more harsh wiping out savings and discretionary income for working families according to the IMF.
The surge in inflation coupled with soaring interest rates has created a formidable financial burden, particularly evident in the realms of home loans, auto loans, student loans, and credit cards.

To illustrate, the average interest rate on a 30-year fixed-rate mortgage has skyrocketed by approximately 157.41% since January 2021, reaching 6.95% in March 2024. Other loan and bank products such as credit cards, student loans, and auto loans went up in a devastating fashion which continually injures working families.

Here are the 3-Year Changes of Costs for various types of loans:
  1. Credit Cards APR: 19%-29% Lending Rates Worse by 42.3%
    • Credit cards often charge higher interest rates than other loan products. Right now, most women and minorities are paying between 19 and 29% interest rates which kills savings, spending, and investing. These are loan shark style rates inflicted upon working families by government and banks.
  2. Average APR in 2020:
    o In 2020, the average annual percentage rate (APR) for new credit card offers
    in the U.S. was 14.71%
  3. Average APR in 2023:
    • As of Q3 2023, the average APR for new credit card offers stood at 20.93% but is generally around 24-25% for most.
Therefore, the average credit card APR increased by approximately 42.3% from 2020 to 2023.
  1. Student Loans Loan Rates also Double over 100% in Costs
    • Federal student loan interest rates are up over 100% in 3 years.
    • Rates vary based on the type of loan. For loans disbursed between July 1, 2023, and June 30, 2024: Presently, the average rate is over 9% which is up over 100% in the last 3 years.
2020-2021: Fixed interest rate of 2.750% applied for both subsidized and unsubsidized loans. The 2023-2024: The fixed interest rate of 5.5% was for both subsidized and unsubsidized loans. So, the percent change from 2.75 to 5.5 is 100%.

Thus, 43 million families with overpriced student debt are paying double the interest since President Trump left office.
  1. Auto Loans APR and Loans up 94.8% -
The Initial rate (December 2021): 3.85 percent and recent rate (September 2023): 7.5 percent
Auto loan interest rates depend on factors like credit score and lender. On average: New Cars: Around 7.1% APR and Used Cars: Around 11.6% APR

Therefore, the average auto loan rate hits working folks with a 94.81% percent higher punishment in costs over the last three years.
  1. Home Mortgage 30-Year Rates up 157% in 3 Years
    • As of now, the average interest rate for a 30-year fixed mortgage is approximately 6.95% according to the St. Louis Federal Reserve. Keep in mind that mortgage rates can get worse, and the 30 year loan rate costs are directly passed on to renters creating rental hyperinflation.
Calculating the percentage increase:
  1. January 2021: The average interest rate was a record low of 2.7%
  2. October 2022: The rate surged to a high of 7.08%
  3. Current Rate (March 2024): The average rate stands at 6.95%
Therefore, since January 2021, home loan interest rates have gotten worse by approximately 157.41%. This substantial rise has impacted affordability for potential homebuyers.
  1. Rent Costs 270% More Compared to Wages
    • Rent Costs - Rental prices hikes got much worse beating and surpassing annual wage increases by 270%.
    • Last year, many cities had a 30% Rent increase in year 2023 pummeling inner city minorities and youth.
  2. Small Business Lines of Credit Interest Rates up over 100%
Business lines of credit allow you to access funds as needed. Interest rates can vary widely from around 6% in 2020 to 13% today up over 100%: Presently, a small business in the inner city would pay about 9.00% to 75.00% APR% on average for a loan. Bank Rate reports SBA loans Fixed rate: 13.50% to 16.50% and Bad credit business loans from 20% to 99%+ APR. In 2021, the interest rates for SBA disaster loans was set around 3.75% for businesses and 2.75% for non-profit organizations, with long-term repayment options of up to 30 years.

Overall, this painful economic landscape not only complicates the path to renting or homeownership but also adds strain to managing existing debts, hindering financial stability among marginalized and ethnic communities.

As 2024 interest rates climb to loan shark rates, the accessibility of credit diminishes, perpetuating cycles of financial exclusion and widening the economic gaps for working folks who also already pay an outrageous totality of rates for sales tax, federal income tax, entertainment taxes, internet taxes, cell phone taxes, auto taxes, luxury taxes, real estate taxes, cable TV taxes, and local income taxes.

Furthermore, analysis suggests that nobody would even need student debt relief if the government had not intentionally raised lending rates on working families with debt by a staggering 100% on most loans.

All of this unnecessary calamity upon workers is occurring while many on public assistance receive tax free housing, food, and health care and do not feel any of the suffocating effects of hyperinflation with higher: rent costs, loan repayments, food costs, insurance costs, or health care costs.

In this volatile financial climate, it becomes imperative to address the disproportionate impact of hyperinflation, escalating interest rates, and rental costs on working families, women, children, and minorities.

To make a long story short, the math does not lie. According to the US Federal Courts, Business bankruptcy filings rose 40.4 percent, from 13,481 to 18,926, in 2023 .

This alone shows the effect of bad policies while millions of workers continue to struggle and run up credit card debt to a record $1.1 trillion. In the most recent inflation survey by Northwestern Mutual Life, Americans believe they need 53% more money to retire than they did just a mere 3 years ago. This data clearly shows that hyperinflation is seen by Americans as a 50% increase in the cost of living over the last 3 years which is destroying the middle class and working families.
________________


Read Newsmax: USA Hyper-Inflation – 157% in Past 3 Years | Newsmax.com
Important: Find Your Real Retirement Date in Minutes! More Info Here
Are the CEOs going to forego their massive outsized bonuses so their corporations don’t raise prices?

:heehee: :heehee::heehee::heehee:
 

USA Hyper-Inflation – 157% in Past 3 Years​

USA Hyper-Inflation – 157% in Past 3 Years

(Dreamstime)
George Mentz
By George MentzWednesday, 10 April 2024 11:43 AM EDTCurrent | Bio | Archive



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This week, there are now more CEO’s saying that lending rates could get even worse and go up to new 40-year highs not seen since the Jimmy Carter debacle and Reagan’s landslide election of 1980.

The intersection of hyperinflation and escalating interest rates on various types of loans has disproportionately affected women and minorities, exacerbating existing economic disparities. The weak energy policies, increased fuel prices, and skyrocketing food prices have only become more harsh wiping out savings and discretionary income for working families according to the IMF.
The surge in inflation coupled with soaring interest rates has created a formidable financial burden, particularly evident in the realms of home loans, auto loans, student loans, and credit cards.

To illustrate, the average interest rate on a 30-year fixed-rate mortgage has skyrocketed by approximately 157.41% since January 2021, reaching 6.95% in March 2024. Other loan and bank products such as credit cards, student loans, and auto loans went up in a devastating fashion which continually injures working families.

Here are the 3-Year Changes of Costs for various types of loans:
  1. Credit Cards APR: 19%-29% Lending Rates Worse by 42.3%
    • Credit cards often charge higher interest rates than other loan products. Right now, most women and minorities are paying between 19 and 29% interest rates which kills savings, spending, and investing. These are loan shark style rates inflicted upon working families by government and banks.
  2. Average APR in 2020:
    o In 2020, the average annual percentage rate (APR) for new credit card offers
    in the U.S. was 14.71%
  3. Average APR in 2023:
    • As of Q3 2023, the average APR for new credit card offers stood at 20.93% but is generally around 24-25% for most.
Therefore, the average credit card APR increased by approximately 42.3% from 2020 to 2023.
  1. Student Loans Loan Rates also Double over 100% in Costs
    • Federal student loan interest rates are up over 100% in 3 years.
    • Rates vary based on the type of loan. For loans disbursed between July 1, 2023, and June 30, 2024: Presently, the average rate is over 9% which is up over 100% in the last 3 years.
2020-2021: Fixed interest rate of 2.750% applied for both subsidized and unsubsidized loans. The 2023-2024: The fixed interest rate of 5.5% was for both subsidized and unsubsidized loans. So, the percent change from 2.75 to 5.5 is 100%.

Thus, 43 million families with overpriced student debt are paying double the interest since President Trump left office.
  1. Auto Loans APR and Loans up 94.8% -
The Initial rate (December 2021): 3.85 percent and recent rate (September 2023): 7.5 percent
Auto loan interest rates depend on factors like credit score and lender. On average: New Cars: Around 7.1% APR and Used Cars: Around 11.6% APR

Therefore, the average auto loan rate hits working folks with a 94.81% percent higher punishment in costs over the last three years.
  1. Home Mortgage 30-Year Rates up 157% in 3 Years
    • As of now, the average interest rate for a 30-year fixed mortgage is approximately 6.95% according to the St. Louis Federal Reserve. Keep in mind that mortgage rates can get worse, and the 30 year loan rate costs are directly passed on to renters creating rental hyperinflation.
Calculating the percentage increase:
  1. January 2021: The average interest rate was a record low of 2.7%
  2. October 2022: The rate surged to a high of 7.08%
  3. Current Rate (March 2024): The average rate stands at 6.95%
Therefore, since January 2021, home loan interest rates have gotten worse by approximately 157.41%. This substantial rise has impacted affordability for potential homebuyers.
  1. Rent Costs 270% More Compared to Wages
    • Rent Costs - Rental prices hikes got much worse beating and surpassing annual wage increases by 270%.
    • Last year, many cities had a 30% Rent increase in year 2023 pummeling inner city minorities and youth.
  2. Small Business Lines of Credit Interest Rates up over 100%
Business lines of credit allow you to access funds as needed. Interest rates can vary widely from around 6% in 2020 to 13% today up over 100%: Presently, a small business in the inner city would pay about 9.00% to 75.00% APR% on average for a loan. Bank Rate reports SBA loans Fixed rate: 13.50% to 16.50% and Bad credit business loans from 20% to 99%+ APR. In 2021, the interest rates for SBA disaster loans was set around 3.75% for businesses and 2.75% for non-profit organizations, with long-term repayment options of up to 30 years.

Overall, this painful economic landscape not only complicates the path to renting or homeownership but also adds strain to managing existing debts, hindering financial stability among marginalized and ethnic communities.

As 2024 interest rates climb to loan shark rates, the accessibility of credit diminishes, perpetuating cycles of financial exclusion and widening the economic gaps for working folks who also already pay an outrageous totality of rates for sales tax, federal income tax, entertainment taxes, internet taxes, cell phone taxes, auto taxes, luxury taxes, real estate taxes, cable TV taxes, and local income taxes.

Furthermore, analysis suggests that nobody would even need student debt relief if the government had not intentionally raised lending rates on working families with debt by a staggering 100% on most loans.

All of this unnecessary calamity upon workers is occurring while many on public assistance receive tax free housing, food, and health care and do not feel any of the suffocating effects of hyperinflation with higher: rent costs, loan repayments, food costs, insurance costs, or health care costs.

In this volatile financial climate, it becomes imperative to address the disproportionate impact of hyperinflation, escalating interest rates, and rental costs on working families, women, children, and minorities.

To make a long story short, the math does not lie. According to the US Federal Courts, Business bankruptcy filings rose 40.4 percent, from 13,481 to 18,926, in 2023 .

This alone shows the effect of bad policies while millions of workers continue to struggle and run up credit card debt to a record $1.1 trillion. In the most recent inflation survey by Northwestern Mutual Life, Americans believe they need 53% more money to retire than they did just a mere 3 years ago. This data clearly shows that hyperinflation is seen by Americans as a 50% increase in the cost of living over the last 3 years which is destroying the middle class and working families.
________________


Read Newsmax: USA Hyper-Inflation – 157% in Past 3 Years | Newsmax.com
Important: Find Your Real Retirement Date in Minutes! More Info Here
If we'd had 157% inflation in the last 3 weeks you might call it "hyper", but our current situation just doesn't qualify. And, wrt inflation, the US economy under Biden has done better than any other industrialized nation on the planet.
 
That might be the most irrelevant heap of idiotic nothing I've read in some time....And not from a shortage of irrelevant idiotic nothingness to draw from. :uhoh3: :uhoh3: :uhoh3:
Except...it has the ring of truth to it. Despite inflation, corporate profits are at an all time high.
You people on the right really need to start educating yourselves on how things work. :)

 

USA Hyper-Inflation – 157% in Past 3 Years​

USA Hyper-Inflation – 157% in Past 3 Years

(Dreamstime)
George Mentz
By George MentzWednesday, 10 April 2024 11:43 AM EDTCurrent | Bio | Archive



facebook sharing button

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Comment|
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This week, there are now more CEO’s saying that lending rates could get even worse and go up to new 40-year highs not seen since the Jimmy Carter debacle and Reagan’s landslide election of 1980.

The intersection of hyperinflation and escalating interest rates on various types of loans has disproportionately affected women and minorities, exacerbating existing economic disparities. The weak energy policies, increased fuel prices, and skyrocketing food prices have only become more harsh wiping out savings and discretionary income for working families according to the IMF.
The surge in inflation coupled with soaring interest rates has created a formidable financial burden, particularly evident in the realms of home loans, auto loans, student loans, and credit cards.

To illustrate, the average interest rate on a 30-year fixed-rate mortgage has skyrocketed by approximately 157.41% since January 2021, reaching 6.95% in March 2024. Other loan and bank products such as credit cards, student loans, and auto loans went up in a devastating fashion which continually injures working families.

Here are the 3-Year Changes of Costs for various types of loans:
  1. Credit Cards APR: 19%-29% Lending Rates Worse by 42.3%
    • Credit cards often charge higher interest rates than other loan products. Right now, most women and minorities are paying between 19 and 29% interest rates which kills savings, spending, and investing. These are loan shark style rates inflicted upon working families by government and banks.
  2. Average APR in 2020:
    o In 2020, the average annual percentage rate (APR) for new credit card offers
    in the U.S. was 14.71%
  3. Average APR in 2023:
    • As of Q3 2023, the average APR for new credit card offers stood at 20.93% but is generally around 24-25% for most.
Therefore, the average credit card APR increased by approximately 42.3% from 2020 to 2023.
  1. Student Loans Loan Rates also Double over 100% in Costs
    • Federal student loan interest rates are up over 100% in 3 years.
    • Rates vary based on the type of loan. For loans disbursed between July 1, 2023, and June 30, 2024: Presently, the average rate is over 9% which is up over 100% in the last 3 years.
2020-2021: Fixed interest rate of 2.750% applied for both subsidized and unsubsidized loans. The 2023-2024: The fixed interest rate of 5.5% was for both subsidized and unsubsidized loans. So, the percent change from 2.75 to 5.5 is 100%.

Thus, 43 million families with overpriced student debt are paying double the interest since President Trump left office.
  1. Auto Loans APR and Loans up 94.8% -
The Initial rate (December 2021): 3.85 percent and recent rate (September 2023): 7.5 percent
Auto loan interest rates depend on factors like credit score and lender. On average: New Cars: Around 7.1% APR and Used Cars: Around 11.6% APR

Therefore, the average auto loan rate hits working folks with a 94.81% percent higher punishment in costs over the last three years.
  1. Home Mortgage 30-Year Rates up 157% in 3 Years
    • As of now, the average interest rate for a 30-year fixed mortgage is approximately 6.95% according to the St. Louis Federal Reserve. Keep in mind that mortgage rates can get worse, and the 30 year loan rate costs are directly passed on to renters creating rental hyperinflation.
Calculating the percentage increase:
  1. January 2021: The average interest rate was a record low of 2.7%
  2. October 2022: The rate surged to a high of 7.08%
  3. Current Rate (March 2024): The average rate stands at 6.95%
Therefore, since January 2021, home loan interest rates have gotten worse by approximately 157.41%. This substantial rise has impacted affordability for potential homebuyers.
  1. Rent Costs 270% More Compared to Wages
    • Rent Costs - Rental prices hikes got much worse beating and surpassing annual wage increases by 270%.
    • Last year, many cities had a 30% Rent increase in year 2023 pummeling inner city minorities and youth.
  2. Small Business Lines of Credit Interest Rates up over 100%
Business lines of credit allow you to access funds as needed. Interest rates can vary widely from around 6% in 2020 to 13% today up over 100%: Presently, a small business in the inner city would pay about 9.00% to 75.00% APR% on average for a loan. Bank Rate reports SBA loans Fixed rate: 13.50% to 16.50% and Bad credit business loans from 20% to 99%+ APR. In 2021, the interest rates for SBA disaster loans was set around 3.75% for businesses and 2.75% for non-profit organizations, with long-term repayment options of up to 30 years.

Overall, this painful economic landscape not only complicates the path to renting or homeownership but also adds strain to managing existing debts, hindering financial stability among marginalized and ethnic communities.

As 2024 interest rates climb to loan shark rates, the accessibility of credit diminishes, perpetuating cycles of financial exclusion and widening the economic gaps for working folks who also already pay an outrageous totality of rates for sales tax, federal income tax, entertainment taxes, internet taxes, cell phone taxes, auto taxes, luxury taxes, real estate taxes, cable TV taxes, and local income taxes.

Furthermore, analysis suggests that nobody would even need student debt relief if the government had not intentionally raised lending rates on working families with debt by a staggering 100% on most loans.

All of this unnecessary calamity upon workers is occurring while many on public assistance receive tax free housing, food, and health care and do not feel any of the suffocating effects of hyperinflation with higher: rent costs, loan repayments, food costs, insurance costs, or health care costs.

In this volatile financial climate, it becomes imperative to address the disproportionate impact of hyperinflation, escalating interest rates, and rental costs on working families, women, children, and minorities.

To make a long story short, the math does not lie. According to the US Federal Courts, Business bankruptcy filings rose 40.4 percent, from 13,481 to 18,926, in 2023 .

This alone shows the effect of bad policies while millions of workers continue to struggle and run up credit card debt to a record $1.1 trillion. In the most recent inflation survey by Northwestern Mutual Life, Americans believe they need 53% more money to retire than they did just a mere 3 years ago. This data clearly shows that hyperinflation is seen by Americans as a 50% increase in the cost of living over the last 3 years which is destroying the middle class and working families.
________________


Read Newsmax: USA Hyper-Inflation – 157% in Past 3 Years | Newsmax.com
Important: Find Your Real Retirement Date in Minutes! More Info Here
Biden will be defeated for two reasons:

1) The unaffordable prices of basic necessities
2) The swarm of millions of uneducated, unskilled, semi-literate illegals

Plus his Alzheimers, of course.
 
Are the CEOs going to forego their massive outsized bonuses so their corporations don’t raise prices?

:heehee: :heehee::heehee::heehee:
Doubtful.....adding all of their bonuses up together still wouldn't put a .01% dent in one point of core inflation. Having said that I believe the bonus system should be outlawed myself. I have seen the destruction that comes of it first hand.
 
Doubtful.....adding all of their bonuses up together still wouldn't put a .01% dent in one point of core inflation. Having said that I believe the bonus system should be outlawed myself. I have seen the destruction that comes of it first hand.
It's a reaction to the economically illiterate shitlibs going after CEO core salaries.

Trump wasn't wrong when he said that it was smart people who pay the lowest taxes.
 

USA Hyper-Inflation – 157% in Past 3 Years​

USA Hyper-Inflation – 157% in Past 3 Years

(Dreamstime)
George Mentz
By George MentzWednesday, 10 April 2024 11:43 AM EDTCurrent | Bio | Archive



facebook sharing button

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Email.png
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Comment|
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This week, there are now more CEO’s saying that lending rates could get even worse and go up to new 40-year highs not seen since the Jimmy Carter debacle and Reagan’s landslide election of 1980.

The intersection of hyperinflation and escalating interest rates on various types of loans has disproportionately affected women and minorities, exacerbating existing economic disparities. The weak energy policies, increased fuel prices, and skyrocketing food prices have only become more harsh wiping out savings and discretionary income for working families according to the IMF.
The surge in inflation coupled with soaring interest rates has created a formidable financial burden, particularly evident in the realms of home loans, auto loans, student loans, and credit cards.

To illustrate, the average interest rate on a 30-year fixed-rate mortgage has skyrocketed by approximately 157.41% since January 2021, reaching 6.95% in March 2024. Other loan and bank products such as credit cards, student loans, and auto loans went up in a devastating fashion which continually injures working families.

Here are the 3-Year Changes of Costs for various types of loans:
  1. Credit Cards APR: 19%-29% Lending Rates Worse by 42.3%
    • Credit cards often charge higher interest rates than other loan products. Right now, most women and minorities are paying between 19 and 29% interest rates which kills savings, spending, and investing. These are loan shark style rates inflicted upon working families by government and banks.
  2. Average APR in 2020:
    o In 2020, the average annual percentage rate (APR) for new credit card offers
    in the U.S. was 14.71%
  3. Average APR in 2023:
    • As of Q3 2023, the average APR for new credit card offers stood at 20.93% but is generally around 24-25% for most.
Therefore, the average credit card APR increased by approximately 42.3% from 2020 to 2023.
  1. Student Loans Loan Rates also Double over 100% in Costs
    • Federal student loan interest rates are up over 100% in 3 years.
    • Rates vary based on the type of loan. For loans disbursed between July 1, 2023, and June 30, 2024: Presently, the average rate is over 9% which is up over 100% in the last 3 years.
2020-2021: Fixed interest rate of 2.750% applied for both subsidized and unsubsidized loans. The 2023-2024: The fixed interest rate of 5.5% was for both subsidized and unsubsidized loans. So, the percent change from 2.75 to 5.5 is 100%.

Thus, 43 million families with overpriced student debt are paying double the interest since President Trump left office.
  1. Auto Loans APR and Loans up 94.8% -
The Initial rate (December 2021): 3.85 percent and recent rate (September 2023): 7.5 percent
Auto loan interest rates depend on factors like credit score and lender. On average: New Cars: Around 7.1% APR and Used Cars: Around 11.6% APR

Therefore, the average auto loan rate hits working folks with a 94.81% percent higher punishment in costs over the last three years.
  1. Home Mortgage 30-Year Rates up 157% in 3 Years
    • As of now, the average interest rate for a 30-year fixed mortgage is approximately 6.95% according to the St. Louis Federal Reserve. Keep in mind that mortgage rates can get worse, and the 30 year loan rate costs are directly passed on to renters creating rental hyperinflation.
Calculating the percentage increase:
  1. January 2021: The average interest rate was a record low of 2.7%
  2. October 2022: The rate surged to a high of 7.08%
  3. Current Rate (March 2024): The average rate stands at 6.95%
Therefore, since January 2021, home loan interest rates have gotten worse by approximately 157.41%. This substantial rise has impacted affordability for potential homebuyers.
  1. Rent Costs 270% More Compared to Wages
    • Rent Costs - Rental prices hikes got much worse beating and surpassing annual wage increases by 270%.
    • Last year, many cities had a 30% Rent increase in year 2023 pummeling inner city minorities and youth.
  2. Small Business Lines of Credit Interest Rates up over 100%
Business lines of credit allow you to access funds as needed. Interest rates can vary widely from around 6% in 2020 to 13% today up over 100%: Presently, a small business in the inner city would pay about 9.00% to 75.00% APR% on average for a loan. Bank Rate reports SBA loans Fixed rate: 13.50% to 16.50% and Bad credit business loans from 20% to 99%+ APR. In 2021, the interest rates for SBA disaster loans was set around 3.75% for businesses and 2.75% for non-profit organizations, with long-term repayment options of up to 30 years.

Overall, this painful economic landscape not only complicates the path to renting or homeownership but also adds strain to managing existing debts, hindering financial stability among marginalized and ethnic communities.

As 2024 interest rates climb to loan shark rates, the accessibility of credit diminishes, perpetuating cycles of financial exclusion and widening the economic gaps for working folks who also already pay an outrageous totality of rates for sales tax, federal income tax, entertainment taxes, internet taxes, cell phone taxes, auto taxes, luxury taxes, real estate taxes, cable TV taxes, and local income taxes.

Furthermore, analysis suggests that nobody would even need student debt relief if the government had not intentionally raised lending rates on working families with debt by a staggering 100% on most loans.

All of this unnecessary calamity upon workers is occurring while many on public assistance receive tax free housing, food, and health care and do not feel any of the suffocating effects of hyperinflation with higher: rent costs, loan repayments, food costs, insurance costs, or health care costs.

In this volatile financial climate, it becomes imperative to address the disproportionate impact of hyperinflation, escalating interest rates, and rental costs on working families, women, children, and minorities.

To make a long story short, the math does not lie. According to the US Federal Courts, Business bankruptcy filings rose 40.4 percent, from 13,481 to 18,926, in 2023 .

This alone shows the effect of bad policies while millions of workers continue to struggle and run up credit card debt to a record $1.1 trillion. In the most recent inflation survey by Northwestern Mutual Life, Americans believe they need 53% more money to retire than they did just a mere 3 years ago. This data clearly shows that hyperinflation is seen by Americans as a 50% increase in the cost of living over the last 3 years which is destroying the middle class and working families.
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Read Newsmax: USA Hyper-Inflation – 157% in Past 3 Years | Newsmax.com
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Admittedly such increases from the very VERY low rates that existed are not yet as disastrous as the Carter era though they are shutting people out of several important markets. But the way it's going and the ridiculous inflationary spending by the Biden administration, plus he's trying to double down on that, could put us back into those terrible rates along with double digit inflation that also existed under Carter.

Quick economics lesson:
You gain 50 pounds this year and decide to do something about it. So next year you gain only 30 pounds. You are now 80 pounds heavier than 2023.

No good so you cut back more and only gain 15 pounds the next year. But you are now 95 pounds heavier than 2023.

So you cut back more and only gain 5 pounds the next year which isn't any big deal right? But you are now 100 pounds heavier than 2023.

That is what is happening with Bidenflation.

We need Trump back with his no unnecessary regulation, pro business, pro American policies that encourage productivity and effectiveness. His policies brought prices down naturally and allowed Americans to naturally increase wealth.

One of the most dishonest things Biden has said yet is that he inherited roaring inflation from Trump and is bringing it down. Inflation was at a historic low of 1.4% when Biden took office.
 
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