It’s starting to feel a little fruitless trying to get through to POTATUS that it really sucks out here for a lot of people, and the rest of us aren’t happy.
…And give me the number if you can find it
So, I can call just to tell ’em I’m fine
And to show I’ve overcome the blow
I’ve learned to take it well
It would be nice if I could only convince myself with my words
That it just wasn’t real
But that’s not the way it feels
~ “Operator” – Jim Croce 1972
There was News on the Economic Front Normally, people would have poured another bowl of Cheerios to celebrate this morning.
U.S. GDP increased at a rate of 5.2% during the third quarter. That was higher than originally reported
…Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second estimate showed. The second estimate of the department showed that the acceleration was higher than the initial reading of 4.9% and better than the 5% predicted by Dow Jones’ economists.
Well, actually, no. That’s only a half bowl of Cheerios right now, and about all anyone can afford, knowing we’re going to hear about how terrific the number was, and why can’t we-the-people appreciate anything these geniuses are doing for us.
Look at the picture The following are some examples of how to use the number, there’s not a ton of happy there. The majority of the expenditures that led to it were “ours” This is bad. There’s some really shaky things going on in the parts of the data that should be the indicators of a restrengthening economy if this were a ‘for real’ growth spurt.
…Government spending also helped boost the Q3 estimate, rising 5.5% for the July-through-September period.
Consumer spending, however, has been revised downwards, with an increase of just 3.6% compared to the original estimate of 4%.
Why is the growth so strong? The government’s spending has grown at an unsustainable 4.7% in real-terms over the past year. It is the highest rate since the 1970s and goes against the monetary policies objectives.
— Joseph Lavorgna (@Lavorgnanomics) November 29, 2023
— zerohedge (@zerohedge) November 29, 2023
This consumer, whom POTATUS complains about not being able to appreciate the #Bidenomics’ benefits, is struggling out in the world. For one thing, thanks to Biden’s inflation, they’ve got a whole lot less cash to spend on what they need to just keep humming along, less mind “extras.” There’s no family budget spare change for the things that make life slogging your guts out at a middle class job worth living – treats like Delaware beach houses, bags o’ coke, and hookers – top shelf ones at that.
I’VE OVERCOME THE BLOW
Not everyone is able to live the life of Biden.
We’ve all watched the videos showing young Americans struggling to make ends meet on a regular wage. The Social Security Administration has released new data that puts a number on the issue.
The average American worker now earns less than $41,000 annually. That’s $3,400 per… With median rent of almost… https://t.co/cgg3HFhnnA
— Wall Street Silver (@WallStreetSilv) November 29, 2023
CBS – no right-wing mouthpiece themselves – We had a news story this morning that I’ll bet has a WH intern on the phone already, because their math does not at all balance the #Bidenomics #mathz. However, the rest of us would not have any trouble getting both columns to coincide.
You can also find out more about the following: American family typical home Spending an extra $11,434 per year Just to maintain the standard of living that they enjoyed in January 2021A recent government analysis found that inflation peaked at its highest level in 40 years just before the recession began.
This data shows that families still face financial hardships, despite the fact that the U.S. economy is strong and inflation has declined.
Even so, Many people are interested in learning more about the other. Americans say they aren’t feeling those gainsThis Fall More people are reporting financial difficulties The pandemic has caused people to spend more money than they used to before.According to CBS News’ polling,. Inflation has been the primary cause Americans express pessimism about economy It has its positive points. These include the stronger wage growth in recent years.
And what’s doing it again? The inflation the WH says isn’t there any more!
If only my words could convince me, I would be happy
The inflation where our checking accounts say one thing…
…Average The hourly wage for workers has increased by a robust 13.6% between January 2021 and now. Although this is still lower than the 17% inflation rate during the same periodAccording to data from the government, consumers must spend more in order to keep up with inflation. The analysis of Republican members of U.S. Senate Joint Economic Committee shows that the four main categories where consumers need to spend more money to keep up with inflation are food, transportation and housing.
…and the cost of keeping a roof over our head confirms the sticker shock…
Inflation is primarily driven by housing costs. It’s a record high. Good job guys. pic.twitter.com/DjdH40vxI3
— Frog Capital (@FrogNews) November 28, 2023
…but there are some pudding brains in high places who insist on fabricating
The fairy tales flat-out lies for Public consumption the lemmings who’ll swallow them.
BIDEN: “As a share of earnings this Thanksgiving, dinner was the 4th cheapest ever on record. I want y’all to know that…”
Who is cheap? The Biden crime family?pic.twitter.com/l2rxQph6sb
— Suburban Black Man 🇺🇸 (@niceblackdude) November 28, 2023
BUT THAT’S NOT THE WAY IT FEELS
It’s not like we aren’t reading the tale of the register tape in real time as it, say, spits out the cost of what was actually the Second Most Expensive Thanksgiving Joe Biden was, by coincidence, also the president of the most expensive.).
Who does this geriatric vegetable think he’s lying to?
Have you paid too much for Thanksgiving Dinner this year?
In 2023, Thanksgiving dinner will be the second-most expensive in history. But how much it cost depended on what you bought, where you live — and whether your state taxes groceries.
Americans are depressed and stressed. they’re “doom spending.”
…Nearly all Americans, 96%, are concerned about the current state of the economy, according to a recent report by Intuit Credit Karma.
More than a quarter of the population is still unable to read. “doom spending,” This report shows that consumers are spending money regardless of economic and geopolitical concerns.
…“Much like doom scrolling, we’re seeing people mindlessly shop to soothe concerns about the economy and foreign affairs, which could take a toll on their financial wellbeing,” said Courtney Alev, Credit Karma’s consumer financial advocate.
Other reports have shown that Gen Z and millennials, despite the fact that credit card debt has topped $1 trillion, are especially susceptible to this mentality.
Instead of cutting expenses, 73% of Gen Zers prefer to live in the present.Intuit recently released a study on the Prosperity Index.
I’VE LEARNED TO TAKE IT WELL
To be fair to doom spenders, they’re seeing an administration “mindlessly” govern, or we’re being governed by the mindless – same-same.
Over the past few months, many households have used their cash reserves to pay for holiday expenses.
Read More: https://t.co/fcIilKTRHk
— unusual_whales (@unusual_whales) November 29, 2023
CNBC The front page is upside down, Mark Cuban’s just announced he’s not running for president.
If the doomsday cloud is lifted just a bit, it’s time to laugh or get confused. “WTF,” And we all should sleep a bit easier, don’t you think? Could oughta.
Because it looks like we’re going to stay disconnected for quite a while.
Couldn’t call just to tell them we’re fine, anyway…because we’re not.
That’s just the way it feels.