Maybe modeling one’s finances on those of the federal government isn’t such a good idea. From Tyler Durden at zerohedge.com:
While Joe Biden insists that Americans are doing great – suggesting in his State of the Union Address last week that “our economy is the envy of the world,” Americans are being absolutely crushed by inflation (which the Biden admin blames on ‘shrinkflation’ and ‘corporate greed’), andof course – crippling debt.
The signs are obvious. Last week we noted that banks’ charge-offs are accelerating, and are now above pre-pandemic levels.
…and leading this increase are credit card loans – with delinquencies that haven’t been this high since Q3 2011.
On top of that, while credit cards and nonfarm, nonresidential commercial real estate loans drove the quarterly increase in the noncurrent rate, residential mortgages drove the quarterly increase in the share of loans 30-89 days past due.
And while Biden and crew can spin all they want, an average of polls from RealClear Politics shows that just 40% of people approve of Biden’s handling of the economy.
At least the tweets aren’t mean.
Nothing will get grabbed in the 7500 degree mushroom cloud WAR with Russia.
Fire up the printing presses, free stimmy checks for all.
Only to be consumed by gas and groceries.
An oldster in the fam got some collection notice from Leviathangov about a Soc-Sec medical fee from 20 years ago with no record of doctor visit from 2009.
It was such a serious medical event, it was five years before seeing a doctor.
Don’t worry about the competence of Magic Soil hires, they aren’t all that bright.
A more ponderous and stupid totalitarianism with no liberty and taxes for all.
These things happen when the best government that money can buy has been in the business of redistribution for almost fifty years.