record number of people with a full time and part time jobs. Personal savings plummeting on a monthly basis and credit card debt at record high. buy now pay later programs its estimated 43% of people are behind on payments.
Premera blue cross is blaming inflation on not being able to renew contracts with multi care. But inflation is fake and isn’t happening.
I love the argument that inflation is global
. Who is the brain trust that ruined keystone pipeline project along with demonizing drilling for oil?
No one can read the following facts and say this is a good economy. No one but brain dead rats who evidently like to kiss his hairy balls.
Bidenflation Soars To 19.2%, Eroding Americans’ Purchasing Power
The dark reality of Bidenomics is 19.2% inflation under the President’s watch, which is 5.9% annually. When he took office, inflation was at just 1.4%. Since March 2021, it has stayed above the Federal Reserve's 2% target (38 consecutive months.).
Under Biden, the federal debt has increased by $6.9 trillion. The Federal Reserve printed money out of nothing to finance his spending spree. The
increased money supply without a corresponding increase in goods and services reduced the value of each dollar, causing prices to rise quickly and leading to high inflation, effectively acting as a hidden tax on everyone.
Prices have increased by 19.2%, while real wages have declined by 2.6%. Average hourly earnings for all employees
dropped 2.6% to $11.09 in April 2024 from $11.39 in January 2021 when Biden took office.
According to Mark Zandi, the chief economist at Moody's Analytics, the typical U.S. household now requires $1,069 more each month (equivalent to $12,828 annually) compared to three years ago, $784 more per month compared to two years ago, and an additional $227 per month compared to last year.
As a result, credit card debt and delinquencies are surging amid high interest rates. According to TransUnion
data published on Thursday, the average credit card debt of an American borrower ballooned to $6,218 in Q1 2024, an 8.5% rise from the previous year. This collectively increased total debt to $1.02 trillion as the credit card delinquency rate, defined as 90 or more days late, climbed to 8.9%, the highest since 2012. The average credit card APR hit a record 20.72%.
