Gimme Shelter! At least EXPENSIVE shelter under Joe Biden.
A few days ago I wrote about the suffering of America’s middle class under Biden’s Reign of (Economic) Error. Housing is far more expensive under Biden as are energy prices, car prices, food prices, and auto loan rates. Biden’s economy is truly unaffordable for millions of Americans.
Then we have yesterday’s inflation report that revealed 25 straight months of negative REAL average weekly wage growth. Yikes! Inflation is still growing faster than nominal wage growth, putting Americans further behind.
Then we have Owner’s Equivalent Rent rising to 8.1% year-over-year (YoY), a new record high. Way to go, Unaffordable Joe! This is happening as The Fed slows M2 Money growth into negative territory (-4.05% YoY).
Don’t like Owner’s Equivalent rent? Rent of primary residence YoY? It is the second highest growth rate in history at 8.80%, after last month’s rate of 8.814% YoY.
Shelter CPI was 8.09582% in April, down ever so slightly from March.
Meanwhile, the Biden family raked in AT LEAST $10 million in payoffs from China hidden through multiple entites.
Sleazy Joe Biden and his son, mega sleeze Hunter..