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

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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.

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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).

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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.




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