Hard times: 7 in 10 Americans say they’re living paycheck to paycheck now

You want to backpeddle now?

 

Not to mention our pal is probably funnelling the majority of his money to those corporations in his daily life .. by CHOICE.

 

You have a good point there. Similar to those demanding the non-use of fossil fuels, yet use all the products created from it. Lip service is mighty cheap.

 

In my experience, it's the urban 'socialist-greenie' who gives more of their income to the corporations, than any other demographic.

It's comedy gold!

 

I've been collecting a federal pension (CSRS) of over $10,000 a month for the past 15 years. My wife has a state pension and collects Social Security also. Must suck to be such poor planners and to have spent like a drunken sailor your whole life. I have no respect or feel sorry for those that did. Enjoy being destitute.

 

Agree. The 'feeling sorry for them' problem is a HUGE mistake. It's actually rather immoral too, because it focuses energy and resources on the abusers.

 

Called a friend last night and he was "buying meat for the freezer" in anticipation of the inflation and supply chain issues.

Another friend lives in a nearby resort community that only has one grocery store.
He says shelves are empty.

Never vote for Democrats because they are weak and weak people create hard times.

 

This is almost always a product of bad choices.
Sure, something uncontrollable can happen and screw things up, but that's the exception.

 

In fairness, the same thing is happening in my Right Wing state. This is much bigger than individual Govts

 

Think Americans are struggling now? Watch as gas runs up another buck a gallon on the back of Biden's empowerment of Putin:

BRING BACK KEYSTONE, MORE FRACKING. UNLESS YOU’RE IN PUTIN’S POCKET, THAT IS.



Biden has filled Putin's pockets with cash.

 

This is only going to get worse.

 

Biden still slidin': Harvard-Harris job approval 41%, underwater on important issues.

• Only 35 percent of registered voters approve of Biden’s handling of the economy,
• 44 percent approve of his efforts to stimulate job growth and just
• 33 percent approve of his handling of inflation.
• Thirty-eight percent of respondents say they support his handling of immigration, and
• his approval rating on foreign affairs sits at 40 percent.
• Donald Trump leads Biden in a 2024 matchup, 45/43

Lying Crooked Hillary Clinton pollster Mark Penn: “Biden continues to struggle with the job and is particularly being slammed by the voters over inflation and immigration. No president has been reelected with numbers like these on job performance.”

 

Wealth inequality has nothing to do with anything.

Inflation does and yes he is responsible for that

 

Yes .. the "wealth equality equation" has something to do with folks living paycheck to paycheck. .. so you are talking nonsense.

 

Well, inflation surely exacerbates their "wealth equality". Before, people were struggling... Now, people are becoming desperate.

 

That it does but, if someone does not understand that wealth inequality makes it hard for folks to pay bills .. pointless to talk about inflation.

 

Agreed .. nasty nasty stuff this inflation .. hurting folks big time but, this is also not Biden's fault sans oil.

 

There is absolutely things that this administration could be doing to mitigate the impact of this inflationary bubble. Reducing spending ASAP would be an immediate hedge to stopping the increase of inflation. We still have unused funds from the last 1.9 ARP that could be re-designated versus added increased spending. Place a 3 year moratorium on the jones act and roll back some of the expensive environmental regulation that this administration rolled out. And the Fed needs to increase the interest rate more than a mere half point. Just a few starters that would slow inflation sooner, rather than later.

 

No it does not.

 

You are wrong.

Wealth inequality has no such effect.

Someone making millions or billions has no impact on how much another person earns

 

I’m one of the 7 in 10

 

Who said anything about mitigating the impact .. drifted off to another page you did The convo was talk about the cause of the inflation .. and economic inequality .. not mitigation measures after the fact.

In terms of addressing the page that you wandered into -- cause I do try to address what has been stated rather than wandering into a different page .. pretending the old one didn't exist or some such thing .. think its called deflection via rabbit hole or some such thing - The inflation solutions you propose will

1) have no impact on short term inflation
2) Changes to Environmental legislation would help ease the pressure in the oil sector - over the longer term- but not sure what you mean ... as some changes would be good .. others bad. and this would have to be coupled with Policy that is not insane ..as is the case with Biden's current Enviro Policy "Not in My Back Yard .. Dump it in the Ocean"

This is just one small area .. which leads us to 3

3) the current inflation is not a local issue .. not something a leader can impact .. it is a global issue .. hopefully which will subside after the Covid disruption calms down. .. but unfortunately -- what I believe is that the inflation is not just because of Covid .. Covid exacerbated an existing issue .. which leads us to 4

4) What you did not mention was one of the biggest suspects .. kind of an Elephant in the room of sorts .. and it is a massive elephant. Global Debt is staggaringly high .. which factors into the wealth inequality equation .. but also the inflation equation because when one's debt gets big enough .. this puts pressure on the currency ..

Then you have massive deficits .. which obviously is inflationary .. money falling from the tree >>>>> Inflation .. or so goes monetary theory.

Wasn't just the US that runs massive deficits .. although we are the king .. the globe is awash in national debt.

5) Raise Interest Rates .. Ya Think ? that would eventually put a damper on spending in many sectors - dampen corporate/economic growth - less projects will float - but, thats quite the double edged sword er mate.

When a nations interest on its debt as a ratio of income Interest on debt/ Revenue hits 30% .. Red alarm bells go off at the IMF
The ship is taking on water faster than can be bailed out .. if drastic measures not taken immediately - ship will sink... These measures are often in the form of some kind of bailout - debt restructuring .. conditioned on the nation taking various actions .. the nation "forced" in effect to take these actions - if it wants the money.

We actually got close .. believe it or not .. thanks to Rotten Ronnie .. 12 years of Red Fiscal disaster .. When Clinton stepped into office the ratio was 25% .. So it is not that Clinton and Red congress did not want to spend like the princesses with credit cards that they are .. they were forced to take action ..

After messing with the invisible hand for over 20 years .. really ramping up after the 2008 crash -- managed to take the ave interest rate on our debt from over 7% .. down to ~ 2%

2% on 30 Trillion = 600 Billion/year in interest payments 600 Billion / Revenue - 3.6 Trillion = 17%

Not bad right .. far less than 25% .. a little over half the "Red Light" number 30%.

So you would like to raise interest rates ... would ya mate

Just as a heads up .. a few years ago the 10 year was yeilding 0.5% .. now its 3% .. So if you financed at 0.5% - and the term comes up so have to refinance .. your interest payments just increased by 600%

by now you may have figured out where this is going .. as if ave interest rates on our national debt increased just 2 percentage points ... our interest payments would be 1.2 Trillion

1.2 Trillion/ 3.6 Trillion = 33% --- ding .. ding .. ding .. ding ... ding .. ding ..ding ..ding

So "be careful what you wish for" - might be a moral of this story

 

lol.

That was the basis of the survey? The lifestyle they "want".

I WANT to live like an emperor, so I would answer no I don't see myself reaching that level either.

That's a silly question.

 

People live beyond their means, absolutely.

 

Anybody that denies trickle down simply can't comprehend simple economics. How else do you think people earn a wage? From their employer. The employer/employee relationship is fundamentally trickledown.

Now, maybe your issue is what percentage trickles down, but that is a different point and conversation.