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i can't believe anyone would vote for this absolute vegetable.
Quote:
The problem for Biden is that the wealth boom has ended. Since rates started climbing in March 2022, the inflation-adjusted value of assets held by the middle class has fallen 6%, or $2.4 trillion, according to the Berkeley economists and their realtimeinequality.org tracking tool. On average that equates to a $34,000 hit per middle-class adult.
What was the value of those assets in December of 2020 or December of 2019. The article clearly states that March 2022 was at the peak of the value of assets. So did those assets drop below to more normalized values that we had seen for years?
The bottom line is that Biden, like most national politicians, do not care at all about the middle class. I am not even going to add "in my opinion" to that.
When was the last year that the percentage of discretionary income went up for most U.S. households? (Discretionary meaning income after groceries, utility bills, tax deductions, car gas, minimum payments on credit cards and loans, and other regular monthly bills such as insurance premiums.)
Serious question, does anyone know?
I did find the following article, https://www.pewresearch.org/short-re...d-for-decades/ that states (my italics), quote: "In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today. [end quote] So if nothing has changed, that means that it has been 50 years since the average American has had a "real" raise.
However, increased earnings do not necessarily mean more discretionary income, so if anyone can provide any statistics to answer my question above, I'd appreciate it.
Last edited by katharsis; 07-06-2023 at 09:03 AM..
What was the value of those assets in December of 2020 or December of 2019. The article clearly states that March 2022 was at the peak of the value of assets. So did those assets drop below to more normalized values that we had seen for years?
"It won't cost the American people a single penny." -- Idiot
Spoken in a whisper "look here is the deal, you still have the same amount of pennys. If you had 100 before you have one hundred now. You sick son of a one horse pony. Pay your fair share."
Inflation is up thanks to the Democrats crazy spending and what did we, the average citizen get out of the Trillions they spent? I guess Ukraine gets to fight on. Somewhere forests are being clear cut and Solar farms are being built to fight Climate Change. I guess Equity is a thing we can now count on? We have Millions of New Americans that have strolled across the Border that will become our neighbors for the sake of Diversity. We have fewer cops and dangerous cities. Drag Queens and Transpeople have been normalized in society and they demand they be respected and celebrated.
Our society is circling the drain and Biden wants another term to "Finish the Job". Another flush will do it.
I work in tech and TONS of companies are laying off. I can't remember a time that it was this bad.
Also, buying a house is very difficult nowadays. I used to see for sale signs all over the place in my area. I see very few now.
The economy is NOT good. Inflation and gas have whittled salaries down, and interest rates are crushing the home buying and capital expenditure markets.
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