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The dark reality of Bidenomics is 17.3% inflation under the President’s watch. When he took office, inflation was at just 1.4%. Inflation has stayed above the Federal Reserve's 2% target for 35 consecutive months since March 2021.

Average hourly earnings for all employees dropped 2.0% to $11.16 in January from $11.39 in January 2021 when Biden assumed office. Despite nominal salary increases at their fastest pace in years, 58% of Americans say they are now worse off than when the President took office.

In short, prices have increased by 17.3%, while real wages have declined by 2.0%, meaning Americans have taken a 2.0% pay cut under the current administration. To put it differently, people now need 19.3% more income than they had in January 2021 to maintain their living standards. According to some estimates, Americans need an extra $11,400 a year to make ends meet.

How do Americans make up the shortfall?

The Labor Department reported earlier this month that 8.13 million Americans had multiple jobs in January, up from 7.87 million a year earlier. Their share of the U.S. workforce is 5.1%, up from 5% a year before.

Americans also use credit cards to make up for the shortfall. Credit card debt has climbed 40% over the past two years and is near $1.1. trillion. For example, Discover’s credit card customers are carrying $102 billion in balances on their credit cards, up 13% from last year. The charge-off rates and 30-day delinquency rates have also climbed.

Inflation acts as an indirect tax on citizens. Due to entrenched inflation without corresponding real wage growth, most Americans (60%) live paycheck to paycheck, cutting expenses to make ends meet. A quarter (24%) have nothing set aside for financial emergencies.

Rising rent and the end of pandemic-era protections are contributing to the homelessness crisis. Bidenflation and the Fed's eleven rate hikes to reduce inflation have made housing unaffordable for many people and caused displacements.

Therefore, it is no surprise that inflation and food prices emerged as Americans' top economic issues in a recent nationwide TIPP Poll.

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Originally posted by 6ixStringJack

My brother recently bought an overpriced condo. The reason for that is because he actually wanted to rent, but apartment rent in the area we grew up in is now $2,000 per month on average, and they won't even give you a lease for an apartment unless you're making $6,000 per month or 3 times the monthly rent. (FYI: Before Biden* was in office, the rule of thumb for housing expenses was that you shouldn't be spending more than 30% of your monthly earnings on housing... and that is a very smart rule).

My aunt was lucky enough to get herself into a church owned building after being on a list that I had her get on years ago, and it came at the perfect time because she secured it 6 months before my grandmother passed away. But early last year the church sold it to a real estate company. So this year her rent went up $100 per month and next year it will be $1,000 per month, which is double what the church was charging and it will be around 45% of her monthly earnings. If she had come in there off the street next year, she wouldn't even be accepted into the building because she's not making $3,000 per month.

And there's been no promise to the current (elderly) tenants that this price won't be increased again next year. It probably will, since average apartment rents in the area are now $1,500 per month. I've now got to try to help her get into something more affordable, and she's going to have to deal with the fact that she's going to have to move somewhere pretty far away from where she grew up to live in a place that's affordable.

Joe Biden* and his administration wrecked the economy, and yet the Elitists continue to gaslight everyone and tell you that the economy is doing great.

It might be doing great for the Media people who live in a bubble and write these articles, but it's not for everyone else. You simply can't lie to people about money, and you certainly can't lie to people about money who don't have a whole lot of it.

Fuck Democrats. Fuck Joe Biden*.

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Originally posted by 6ixStringJack:
That's not what happened here. This is no fault of theirs and no fault of anybody who's trying to get housing in Biden*'s Inflationland.

Meanwhile... My family is going to be fine. My brother is the only other person I know besides me who bought his place with cash. And my aunt has me to help her navigate this. We thought she was already set up with the church-owned apartment, but didn't see them selling it to a soulless corporation shortly after she moved into it. She can always move down south by my brother and have cheaper rent than she was getting before. I don't think I can convince her of that myself, but I think once she realizes how quickly the money starts disappearing when she's paying the hiked rent prices next year she'll be much more open to that solution to the problem. Especially true if she gets notified after that rate hike that it's going up another $500 the following year to match the current local market.

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Originally posted by 6ixStringJack:
On the contrary, I like my aunt too much to offer a rental to her here.

I'll tell you the same thing I've ever told anybody about renting out part of my house to somebody.

My house is way too big for one person, but it's not big enough for two people.

Maybe if the layout was different. Or maybe if I ever get the flooding issue under control so that I feel confident that I could finish the basement and have a bedroom down there and a fully functional 2nd bathroom and my work wouldn't be ruined in a bad flood season like we had in 2020 I could think about it.



As for your bullshit line about "Biden* doesn't set rent prices", get fucked dummy.

It's Democrat policy over the last 3 years that have lead to this. Everybody knows that Joe Biden* doesn't come up with a list that landlords have to abide by for rental prices. But everybody also knows that rent prices have become unaffordable over his short 3 years in office when they were affordable before he took office. They also know that the price of homes are completely out of reach, especially with the high interest rates that were necessary to cool off the inflation that made everything else unaffordable for them in tandem with the rent prices.

The landlords aren't "evil" bogeymen that your idiot President keeps insisting that they are. The price of everything they buy has risen out of control for 3 years just like everybody else. The loans they have out on their properties are now out of control. And property taxes just keep going up, up, up... especially on commercial real estate. All of this on top of the fact that Joe Biden* and his administration used the CDC to create an emergency situation where the landlords couldn't evict people who didn't pay rent for two years and had to eat those costs. These are the prices that need to be charged in order for the landlords not to go bankrupt in this shit economy that Joe Biden* and his administration and their policies have lead us to.

So go ahead, Democrats... Please keep lying to everybody about how great the economy is when nobody outside of your bubble can afford to live without enslaving themselves to high-interest loans and credit card debt.

See where it gets you.



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Political correctness is just tyranny, with a smiley face.

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Originally posted by SIGNYM:
Struggling and failing?

That's as funny as you accusing SIX of using meth!

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Originally posted by SIGNYM:
Struggling and failing?

That's as funny as you accusing SIX of using meth!

SECOND:Every Texas Trumptard I know brags about "doing great".

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Then you must be a Texas Trumptard because you're always bragging about how great you're doing. And you live in Texas.


Back on topic...

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"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger

Loving America is like loving an addicted spouse - SIGNYM

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Originally posted by 6ixStringJack:
What's your point?

The prices never come back down. Joe Biden* and his administration fucked everyone.

And there's a whole lot of people who think this is far from over. You just don't read those articles because they're not coming from CNN, MSNBC or the NYT.

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Originally posted by second:

Quote:

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Originally posted by 6ixStringJack:
What's your point?

The prices never come back down. Joe Biden* and his administration fucked everyone.

And there's a whole lot of people who think this is far from over. You just don't read those articles because they're not coming from CNN, MSNBC or the NYT.

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Biden does not control prices. The prices you pay for rent, real estate purchases, food, etc. are controlled by people who are not elected. You could learn their names and punch them in the face for over-charging you, but you will not because you think Biden controls the prices. You cannot lower prices by taking the absolute risk-free action of voting in November. Voting is NOT how Capitalism sets the prices you pay, 6ix.

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly

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Originally posted by 6ixStringJack:

But by all means... let's give another $100 Billion to Ukraine.

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Originally posted by SIGNYM:

Quote:

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Originally posted by SIGNYM:
Struggling and failing?

That's as funny as you accusing SIX of using meth!

SECOND:Every Texas Trumptard I know brags about "doing great".

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Then you must be a Texas Trumptard because you're always bragging about how great you're doing. And you live in Texas.


Back on topic...

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"It may be dangerous to be America's enemy, but to be America's friend is fatal." - Henry Kissinger

Loving America is like loving an addicted spouse - SIGNYM

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Anti-Ukraine rhetoric has saturated right-wing media. Now it is helping to deliver actual war victories to Putin.

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