US economy now possibly the best (employment, health care, financial crisis, education system)
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which none of you are in, and almost no one has the market position to play where the increases mean everything - for joe trader, the commission fees coming and going eat up any gains and it is showing where it counts: on the tax filings. All these people claiming they are doing so well, aint
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People are earning interest income too,
ok, and if you are less than a $10M depositor your interest income is a fraction of the inflation bite on your spending and in all cases, its a micro fraction of the interest on your debt, which has increased greatly.
The good news is where?
And for the umpteenth time, my properties only have a 'boom' if I sell them, which no one is buying, cuz very few can afford to at the current interest rates and where would **I** go? move in with you?
That's Bank of America's report you are referring to.
From your out-dated link: "Household liquid assets, which includes cash deposits, has surged a remarkable $5 trillion in 2020."
Why did you even post this?, that $$$ has been spent.
From your out-dated link: "Household liquid assets, which includes cash deposits, has surged a remarkable $5 trillion in 2020."
Why did you even post this?, that $$$ has been spent.
The link is from Sept 2023, as was noted when the link was posted. Take a look at all the data in the report rather than cherry pick 1 line which notes a 2020 spike. There are many other reports online, all showing household wealth at record highs.
Seems like more and more people are finally starting to wise up that an economy that constantly goes up without a correction is NOT always a good thing...
This is what happens when politics override reality. Interest rates should have continued to increase, but for political reasons the fed decide to hold on the rate increases. The result is prolonged inflation and more pain for the public.
The 2% inflation goal cannot be met with current rates. Rates must increase.
Either that or cut government spending DRASTICALLY...
The link is from Sept 2023, as was noted when the link was posted. Take a look at all the data in the report rather than cherry pick 1 line which notes a 2020 spike. There are many other reports online, all showing household wealth at record highs.
What do you not understand about the fact most of the money people had in the bank 3-4 years ago, has now been depleted?.
Read the charts, they are plain as day; and updated to as current as it gets per my below link.
Unlike your 4 year old non-relevant article, which really annoys me; as media outlets keep misleading the masses with them. https://www.forbes.com/advisor/banki...gs-statistics/
Agree. A border security bill turned into a pork spending package for other countries.
And not all of the money is accounted for in the bill...some "mystery" money is allocated.
Some "national security" bill when all the money is leaving the country.
https://mishtalk.com/economics/the-b...e-and-kicking/
“National Security” Package
$60 billion for Ukraine
$14.1 billion for Israel security assistance
$9 billion in humanitarian assistance for civilians in Gaza, the West Bank, Ukraine, and others in conflict zones.
$4.8 billion to help allies in the Indo-Pacific and deter aggression by the Chinese government.
$2.4 billion for operations in the Red Sea
$5 billion is a mystery
$0 for US security unless hidden in the $5 billion mystery
Agreed.
This kind of corruption is why I think the U.S. is a train wreck waiting to happen. It's only a question of when and how bad it will be.
The standard of living in the US is good, but not the best. That has been true for several decades. Most Northern European countries are better off. But Americans refuse to adopt the policies, like Universal healthcare, that make those countries desirable.
We also have a serious corruption problem that doesn't exist to nearly the same extent in Northern Europe. Social programs in Northern Europe generally work as intended. In the U.S., they often end up being a grift, like the homeless industrial complex in California, which I saw first-hand.
Last edited by mysticaltyger; 02-13-2024 at 12:50 PM..
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