Stimulypto! Distortions Abound With Massive Federal Stimulus (Retail Sales Zoom, Lumber Price Surge, Rents Crash In NYC, SF, Detroit)

by confoundedinterest17

The massive stimulus by the Biden Administration and huge growth in money printing has led to market distortions in consumer demand … along with Covid-related shutdowns.

The first distortion is US retail sales that grew an astounding 9.8% month-over-month in March. This surge is likely due to the stimulus checks sent out by The Federal government.

Food prices are up 21% since moneybag Biden was sworn in as President.

READ  A federal judge vacated the CDC's federal moratorium on evictions - GTFO!

While lumber futures prices are up 73% since Biden’s inauguration.

COVID-19 infections and precautions earlier this year shut down lumber mills, creating a shortage in supplies, particularly in pressure-treated wood. But the surge really occurred after Biden’s inauguration.

Then we have apartment rents (from Zumper). Apartment rents (2 bedroom) are plunging in San Francisco (-23% YoY) and New York City (-16.30% YoY). Oddly, Cleveland OH has the fastest growth in apartment rents (+21% YoY) followed by Durham NC (+20.7 YoY) and Detroit (+19% YoY).

READ  Another Massive Brawl Breaks Out at Miami International Airport – Weaves Go Flying, Woman Dragged Across the Floor! (VIDEO)

Changes in apartment rents represent households escaping high rents, increased taxes, and safety. Like the escape from New York … to Cleveland???

Meanwhile, purchasing power for US consumers took another hit in Q1 2021.

 

 

694 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.