The Wreck Of The US Middle Class: America’s Paychecks Bigger Than 40 Years Ago, But Purchasing Power About The Same (Credit Card Delinquencies Highest

[Doc7505]

The Wreck Of The US Middle Class: ​

America’s Paychecks Bigger Than 40 Years Ago, But Purchasing Power About The Same (Credit Card Delinquencies Highest Since 1991)​

The Wreck Of The US Middle Class: America’s Paychecks Bigger Than 40 Years Ago, But Purchasing Power About The Same (Credit Card Delinquencies Highest Since 1991)

Under Bidenomics and Fed monetary “policies”, we now have the wreck of the US middle class. To begin with, America’s paychecks are bigger than 40 years ago, but purchasing power o…

confoundedinterest.net

9 Jun 2024 ~~ By Anthony B. Sanders

Under Bidenomics and Fed monetary “policies”, we now have the wreck of the US middle class.
To begin with, America’s paychecks are bigger than 40 years ago, but purchasing power of those larger paychecks is about the sames as it was 40 years ago. Great job Washington DC!!! … NOT!!!!

Meanwhile, credit card delinquencies are at the highest level since 1991.

Americans are feeling extreme financial stress.
Coping with Bidennomics and The Fed has been most difficult. Especially if you listened to Biden’s D-Day speech (almost stolen word-for-word from a Ronald Reagan speech).

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Commentary:
I’ve notice that my monthly credit card bills are approximately double what they were 5 years ago. This is due to approximate doubling of the costs of gasoline, groceries, health insurance, auto insurance and similar other expenses that are not easy to trim. It’s possible of course to reduce or completely stop making discretionary purchases of things like clothing, consumer electronics, vacations, new appliances, etc., and I suspect you’ll see a lot that happening soon. Recession, here we come.
I'm now finding that fixed pension income that appeared of at least a little value in retirement cannot go as far as planned. Retirees who are able are working again because they have to.
Joe Biden accelerated inflation, while Trump was able to reduce inflation to manageble levels.

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[shockedcanadian]

The banks and lenders will expect a bailout when the bubble burst just as they did in 2009,

 

[cnm]

Raygun destroyed single income homes about 40 years ago. I wonder whether that's connected...

 

[TroglocratsRdumb]

The Radical Left's great reset was about reducing American prosperity.

 

[1srelluc]

Most older homes that are for sale in my AO are being bought by investors with the on-hand capital to buy them.....I suspect we are already (or will soon become) a renter nation.

I really don't know how we are going to unfuck the damage that has been done by Obama's third term.

What it's going to take is a shakeup of the very foundation of our .gov itself.....The only way I see is for entire .gov agencies to be eliminated or so neutered that they will never plague us again.

I know the rich are out to fuck us and get richer, that's always been a given, so there's no point in the .gov helping them out.

 

[Doc7505]

The banks and lenders will expect a bailout when the bubble burst just as they did in 2009,

Just how many times can they go to the well.
The Fed has printed some much money, it now has little to no value.

 

[braalian]

I guess people should be more responsible with their credit. No one to blame but themselves

 

[Doc7505]

I guess people should be more responsible with their credit. No one to blame but themselves

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Indeed, relying on is not good. However, with a 20% inflation, higher taxes living on a fixed income becomes more difficult.

 

[Harpy Eagle]

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Meanwhile, credit card delinquencies are at the highest level since 1991.

View attachment 959822

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Your graph is fake news. Why would they weed out the bigger banks? Oh, to make the numbers look worse than they are

 

[Dr.Know]

The davos crew says the middle class is not sustainable so it has to go.