The suicide rate has hit crazy numbers under Joe Biden. Americans have lost hope, and for good reason. But some Americans have a crazy strategy to deal with lost hope.
Spend your money no matter what!
According to an email I received, the Fed likely won’t cut rates this year. But still people are spending.
The idea that the Federal Reserve might pare back rates this year is becoming increasingly threadbare, a testament more to wishful thinking than to any discernible reality.
The Bureau of Economic Analysis said this week that nominal personal income rose 0.3 percent in February from the prior month. Spending surged a vigorous 0.8 percent month-on-month. Even after adjusting for inflation, real spending rose 0.3 percent, laying to rest any lingering apprehensions regarding a potential retail malaise seeping into the broader contours of consumer expenditure.
On the ledger of expenditures, goods found a prop in the revitalized auto sales sector, while other categories exhibited enough vitality to support the idea that the rotation out of goods spending has likely come to an end.
I’m reminded of a co-worker who got laid off.
And on the day he was notified, he went to a car dealership during his lunch time. He later returned from lunch with a brand new Trans-Am. He informed us that he bought two of them.
Obviously floored by the news, we asked him why he would buy two cars after getting laid off. He said, “This will be the only time I would be able to buy a car, so why not!”
I believe many Americans believe the same rings true in the Era of Biden. Either commit harikari or spend your way into bliss. The email continues,
Services spending saw a noteworthy ascension of 0.6 percent month-on-month, a climb all the more remarkable given the pronounced dip in utilities—a testament, perhaps, to the breadth and depth of the strength of the household sector. This services surge, broad-based and undeniable, can be seen in person by anyone showing up to eat at a restaurant, schedule an appoint for a doctor or even a haircut, or take a flight out of a major U.S. airport.
Under Biden Americans have depleted their savings, and they aren’t saving again.
The saving rate, for its part, contracted to 3.6 percent from a January figure revised upwards to 4.1 percent. The direction of the saving rate indicates a buoyancy in consumer expectations about employment and wages. Americans may not be happy about the state of the economy or the Biden administration’s leadership, but they are not hunkering down in fear of tough times ahead. As we have observed before, it’s very likely that the prospect of the upcoming election throwing the Biden bums out may be encouraging a rise in consumer confidence.
So spending isn’t balancing with saving. Put another way, Americans can’t save, because they must spend.
Is it any wonder why most Americans have soured on the current dictator. Clearly, four years of Biden will do that to you.
Fear is a big motivator, and not just fear of violent crime, for example. Because for all intents, Americans fear Biden in many facets, particularly economically.
What will he do next that will cost us hundreds of billions? And what about that new distinction Biden received, having grown the national debt faster than any other president in history?
Biden claimed that Trump created more debt. But as with all things Biden, he lies.
First, Trump added the “covid debt”, that Democrats needed him to add. Because once “regime change” occurred, Democrats could point backwards at the massive debt they forced Trump to incur.
Second, Politifact explains Biden’s next ruse:
Biden left out that the debt under his watch is on pace to exceed Trump’s one-term debt accumulation by the end of his current term, Jan. 20, 2025. During his first three years, Biden already accumulated $6.32 trillion in debt. For his final year, the nonpartisan Congressional Budget Office has projected a deficit of $1.582 trillion. Add those two figures together and you get $7.902 trillion as Biden’s four-year total.
Biden lies for sport, and he loves statistical lies.
Think what you want about President Trump and say even worse, but America fared far better during his tenure. And the more Democrats fight against that period of prosperity, the more clear their agenda becomes.
It’s the economy stupid.
All the moves being made by the Left prove that they care little about Average Joe American. From the border invasion to the massive funding of a country most Americans couldn’t pronounce a few years ago, Democrats show their true loyalty.
The economy is reeling, screaming “Mercy!”, and Biden ignores all the signs. The economy will vote this year, and not amount of bot votes will silence her.
As the holiday shopping season approaches during this election year, the economy looms large. And that’s not good news for Biden or the Democrats.
