Pennies from Heaven. That is what the bottom 50% received from The Federal Reserve’s massive doses of monetary stimulus (or stimulypto).
There was one big dose of monetary stimulus in late 2008 surrounding the financial crisis and housing bubble burst, another doses (aka, QE 2 and QE3) then the biggest dose of all with the outbreak of Covid in early 2020.
President Biden should have mentioned on Jimmy Dimmel last night that The Federal Reserve has helped the bottom 50% with its endless monetary stimulus.
But if you were fortunate enough to own a home (the top 1% are likely homeowners), then you benefited from The Fed’s monetary stimulypto.
And I noticed that Biden didn’t mention plunging REAL average weekly earnings YoY.
The Federal Reserve’s monetary “policies” have benefited the top 1% and homeowners relative to the bottom 50% (who often rent and got clobbered with 20% growth in rents).
Great job, Fed! Making housing more unaffordable for rents (combine rising rents and declining REAL wages and we have a real affordability problem).
Home affordability for first time homebuyers?
And what is with Biden’s ear lobes? As inflation is rising, his ear lobes are shrinking.
The inflation numbers are out tomorrow. I noticed that Biden and Jimmy Dimmel only discussed gun control, not the sad state of the economy under Biden.
- TERMINATORS: Killer robots join Ukraine’s line of defense against Russian troops
- Left calls for war in all rural areas says cops cant do nothing
- Whoa! More negative wealth effects coming down the pipe…big recession ahead
- WTF, Who Is Running Our Country?
- Percent change in home sales in total (YoY) and percent change in sales by home price level
- Fed throws Biden under the bus, says hes collapsing the country
- The Biggest Temper Tantrum In U.S. History Has Begun
- The collapse in consumer sentiment is definitive proof that social mood is rolling over. Hard. So far, the declines in stocks have been bought ALL the way down. Each rally has been shorter than the last.
- New Data Shows Massive Drop in Birth Rates After Covid 19 Vax Campaign
- Congressman Jim Jordan gets Debbie Birx to admit the truth…