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Is Joe Biden's admin destroying America?   The Serious You: How Current Events Affect You

Started 4/18/22 by WALTER784; 81142 views.
Msg 776 of 1032
In reply toRe: msg 775
WALTER784
Staff

From: WALTER784 

Feb-24

Biden seems to be bankrupting many Americans... only the elite rich seem to escape the pain...

Credit card debt SURGES to record-high $930.6 billion and will keep increasing due to inflation, interest rates

Monday, February 06, 2023
by: Arsenio Toledo

(Natural News) The amount of credit card debt owed by Americans jumped by 18.5 percent, hitting a record-high of $930.6 billion – and this is expected to climb even higher as American consumers continue to deal with nflation and rising interest rates.
 
“Whether it’s shopping for a new car or buying eggs in the grocery store, consumers continue to be impacted in ways big and small by both high inflation and the interest rate hikes implemented by the Federal Reserve,” noted Michele Raneri, vice president of United States research and consulting at consumer credit reporting agency TransUnion, the company that reported the increase in credit card debt.
 
A lot of the credit card debt increase comes from the 202 million new credit accounts opened during the fourth quarter of 2022, led by younger adults aged 18 to 25, bringing the tally of total credit cards in the U.S. to a record-high of 518.4 million.
 
“Credit card interest rates are already as high as they’ve been in decades,” noted Matt Schulz, chief credit analyst for fintech company LendingTree. “While the Fed is taking its foot off the gas a bit when it comes to raising rates, credit card APRs [annual percentage rates] almost certainly will keep climbing for at least the next few months, so it is important that cardholders continue to focus on knocking down their debt.”
 
TransUnion noted that the average consumer’s credit card balance rose to $5,805.
 
High inflation, interest rates, making it impossible for Americans to pay off their credit card debt
 
Persistent high inflation is making the problems of credit card debt holders even worse. Karissa Warren, a wife and mother in Silver Spring, Maryland, noted that rising food prices are making it nearly impossible for her to turn a profit on her side job as a baker.
 
Brighteon.TV
 
“The cost of everything is going crazy, especially eggs,” said Warren. “All of the recipes I make have eggs.” (Related: Americans are increasingly turning to credit card debt and short-term loans as the cost of living becomes extremely painful.)
 
On top of that, interest rates on Warren and her husband’s credit cards have skyrocketed. Roughly two years ago, when she and her husband consolidated their $10,000 debt, they were offered no interest for the first year, and then five percent after that. In recent months, that rate has doubled to 10 percent.
 
“I’m really upset,” she said. “It’s a pressure every day.”
 
“Because the Fed has been raising rates aggressively over the past year, that really has a direct pass through to your credit card rate,” warned Ted Rossman, senior analyst at Bankrate, a financial services company. “A lot of people may not have enough income coming in to support day-to-day expenses, so it lands on the credit card. That becomes a very persistent cycle of debt, unfortunately.”
 
This one-two financial punch of rising inflation and aggressive interest rate hikes is plunging millions of Americans like Warren deeper into debt that could take years, possibly decades, to fully pay off.
 
Learn more about debt and the general state of the American economy at DebtCollapse.com.
 
Watch financial expert Gregory Mannarino warn that all kinds of debt, including personal and household, are about to explode even higher.

Credit card debt SURGES to record-high $930.6 billion and will keep increasing due to inflation, interest rates – NaturalNews.com

FWIW

 
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Msg 777 of 1032 to WALTER784WALTER784 
In reply toRe: msg 776
Showtalk
Host

From: Showtalk 

Feb-24

Unless people cut back drastically to avoid using credit cards for daily expenses.

 1
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Msg 778 of 1032 to Showtalkshowtalk 
In reply toRe: msg 777
WALTER784
Staff

From: WALTER784 

Feb-24

Well, when they don't have the cash to buy things, they use credit cards.

This inflation has drained their cash and thus buying things on credit because they don't have the cash. So, it's really kind of hard to cut back on the credit card use without an influx of cash!

FWIW

 1
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Msg 779 of 1032 to WALTER784WALTER784 
In reply toRe: msg 1
Lathyrus (PeePhobia)

From: Lathyrus (PeePhobia) 

Feb-28

During a recent appearance on the Jesse Watters Primetime show, former Democrat Tulsi Gabbard said that Biden and the Democratic party now share the same core principles as Hitler and the Nazis.

https://newspunch.com/biden-democrats-share-same-core-principles-as-hitler-the-nazis-says-tulsi-gabbard/

                                                              thumbsup

 
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Msg 780 of 1032 to Lathyrus (PeePhobia)PeePhobia 
In reply toRe: msg 779
Showtalk
Host

From: Showtalk 

Feb-28

She seems to be right.

 
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Msg 781 of 1032 to Lathyrus (PeePhobia)PeePhobia 
In reply toRe: msg 779
WALTER784
Staff

From: WALTER784 

Feb-28

Lathyrus (PeePhobia) said...

Tulsi Gabbard said that Biden and the Democratic party now share the same core principles as Hitler and the Nazis.

Some of their principles are similar, but I won't go as far as to say the same.

My German Catholic mother experienced the brown shirts come into her parent's homes looking for Jewish people when she was a child. Believe you me, current Democrats have not devolved that far yet. There are no concentration camps nor gas chambers as of yet.

However, their strategy is similar to socialism in that they dictate whatever they want, they won't listen to reason, and they attempt to punish those who aren't on their bandwagon. Those ARE similarities.

FWIW

 1
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Msg 783 of 1032 to WALTER784WALTER784 
In reply toRe: msg 750
samuelofisrael (8320john1)

From: samuelofisrael (8320john1) 

Mar-6

How does the Biden administration affect your Japanese retirement plan? Is your house in Japan taxed heavily as a retired person or do they have an 'after X age' tax is frozen?

 
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Msg 784 of 1032 to samuelofisrael (8320john1)8320john1 
In reply toRe: msg 783
WALTER784
Staff

From: WALTER784 

Mar-6

The mortgage for my house and land was paid off about 9 years ago. And the land tax is based on a fixed tax per square meter times the size of land owned. It's like $430 some odd dollars per year for me but is not age frozen.

As for retirement, I collect Japanese social security monies after for working for 39 years here in Japan... and I received a nice 6-digit figure severance pay when I retired. I guess I could apply for US social security and Medicare but haven't done so because I don't need it.

So, Biden's admin doesn't really affect me much at all other than slightly higher gas prices, but nowhere near the US gas prices.

FWIW

 
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Msg 785 of 1032
In reply toRe: msg 784
WALTER784
Staff

From: WALTER784 

Mar-8

BIDEN ECONOMY THE WORST: Inflation on the Rebound – PPI Rises More than Expected

By Joe Hoft
Feb. 16, 2023 9:15 am

The Producer Price Index rebounded in January which was more than expected to start 2023.
 
Two days ago, on Valentine’s Day, the consumer price index increased further than analysts had predicted.  The CPI increased to 6.5%.  This is over the prior year.  The increase in prices since Biden took office is much higher.
 
This is why every American sees that their dollars are not going as far as they did when President Trump was in office.  Under President Trump, the annual rate of inflation was flat at 1%.  It wasn’t an issue.
 
Since Biden took over, the average American family is financially “stressed, strained and broken”.
 
Great Deals On “Salon-Quality” Bathrobes And “Wear All Day” MySlippers (Up To $100 Off)
 
This morning the PPI numbers for January were released and they are also higher than expected.  CNBC reported this morning:
 
Inflation rebounded in January at the wholesale level, as producer prices rose more than expected to start the year, the Labor Department reported Thursday.
 
The producer price index, a measure of what raw goods fetch on the open market, rose 0.7% for the month, the biggest increase since June. Economists surveyed by Dow Jones had been looking for an increase of 0.4% after a decline of 0.2% in December.
 
Excluding food and energy, core PPI increased 0.5%, compared to expectations for a 0.3% increase. Core excluding trade services increased 0.6%, against the 0.2% estimate.
 
Rick Santelli points out that inflation is hot no matter how you look at it.
 
When a clown is put in power, expect a clown show.  Americans don’t think it’s funny.

BIDEN ECONOMY THE WORST: Inflation on the Rebound - PPI Rises More than Expected | The Gateway Pundit

FWIW

 
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