A U.S. family of four needs to earn a minimum of $85,000 a year on average to “get by,” which is nearly three times the federal poverty line and $27,000 more than the estimated needed annual average 10 years ago, …
by confoundedinterest17 Well, Biden and McCarthy have agreed in principle to a budget revision, raise the debt ceiling and avoid a US debt default. The Uniparty strikes again! No restraint of reckless Federal spending t speak of . The big …
The Charmed Life of a Baby Boomer Named James: James was born in 1946 during a time of peace, shortly after the most deadly war in history. He begins work in 1962 at age 16, he is paid the minimum …
When the credit card is maxed out, you have to start prioritizing what you actually spend your income on. It is time to force this issue. DON'T RAISE THE DEBT CEILING.Force them to prioritize spending. Make it uncomfortable. — Wall …
Since 1970, the share of aggregate income going to the middle class has fallen from 62% to 42%. (Middle class defined as income from 2/3 to double the median). Meanwhile, high-income share has increased from 29% to 50%. No wonder …
by Martin Armstrong The “Rise Up Cambridge: Cash Payments for Families with Kids” will provide low-income households with a monthly check for $500 to test guaranteed basic income. Those eligible are families with children who earn under 250% of the federal poverty …
The US government should confiscate 100% of any money that Americans make above $999m, the leftwing independent senator Bernie Sanders said late last week. Sanders expressed that belief in an exchange on Friday evening with the host of Who’s Talking …
by throwaway1177171728 No idea how so many people here fail to see and understand this. The crisis happen in mid-March. Their results were 10 weeks of “normal” followed by 2-3 weeks of stress. Those 2-3 weeks of stress had the …
Tesla reported Wednesday net income of $2.51 billion in the first quarter, a 24% drop from the same period last year as the company’s EV price-cutting strategy cut into profits. Tesla has repeatedly reduced the price of its four EVs …
Shares in electric vehicle maker Tesla dropped more than 4% after the company reported first-quarter earnings after the bell Wednesday. Here are the results. Earnings per share: 85 cents adjusted vs 85 cents expected, according to the average analyst estimate compiled by Refinitiv …
by Quant2011 In every region they are larger, meaning that productive assets (stocks) are valued less than non-productive , electronic ledger entries, impostors of real money: https://seekingalpha.com/article/4594039-global-etf-market-facts-3-things-to-know-from-q1-2023 Gold ETFs in North Am are only 1727 tonnes, 55M oz, worth just $110 …
SALEM Ore. (KPTV) – A proposed Oregon bill would provide homeless people and low-income people with $1,000 per month for a year. The Department of Human Services would administer the People’s Housing Assistance Fund Demonstration Program, which would provide 12 …
Subprime car loans in delinquency have hit a 13-year high. Another sign that lower income consumers are struggling with debt. pic.twitter.com/Kx849p5hcW — Markets & Mayhem (@Mayhem4Markets) February 23, 2023 https://twitter.com/leadlagreport/status/1628850568427892739 The Fed’s economists think we are entering a recession. How …
Minimum income required to get a mortgage nears $100,000. At these rates, even the top 25% of Americans can't qualify until their mid-40's — so much for starting that family young. While the median household will never qualify. pic.twitter.com/bkVGy2mLQw — …
https://twitter.com/PhilipSoos/status/1628180794329137152 But… but I was told that the economy is strong as hell.
by confoundedinterest17 President Biden touts his economic plan as being a great success. But the data says otherwise. Real Disposable Personal Income, for examplge, was down -6.4% year-over-year (YoY) in 2022. That is the WORST reading since The Great Depression. And …
CHICAGO — Christopher Ellington’s South Side photography studio crashed in 2020 with the onset of the pandemic. By March 2021, he was scraping by on a tax preparation and financial advice business when gunshots rang out one day as he …
Food-price inflation is still soaring, with people in low and middle-income countries particularly hard-hit. – BBG pic.twitter.com/jgxfAFQffS — Ayesha Tariq, CFA (@AyeshaTariq) January 31, 2023 MCDONALD'S CEO – EXPECT INFLATIONARY COSTS TO CONTINUE TO PRESSURE MARGINS IN 2023 – CONF …
by confoundedinterest17 The Federal Reserve’s Open Market Committee (FOMC) is meeting on Wednesday. What will they do? First, The Fed Funds Target (upper bound) is above the Core US inflation rate YoY. Second, M2 Money growth YoY has slowed to -1.3%. …
U.S. residents are now spending 30% of their income on rent, the highest in more than 20 years of Moody's tracking the data. "Rising mortgage rates caused many households to be priced out from homebuying and would-be buyers remained to …
by silvertomars Closing the gates and leaving investors with illiquid positions they can’t redeem. Investors fear Blackstone has been slow to mark down valuations. Asset panic leading to liquidity problems, hmm. I do believe I have seen this before. https://www.reuters.com/business/finance/blackstone-limits-redemptions-69-billion-reit-2022-12-01/ …
h/t orso-nero
by confoundedinterest17 Redfin had an interesting post where they showed that the “typical” US home now requires income of over $100,000. Of course, it is easy to blame the figure on rapidly rising mortgage rates and Federal Reserve tightening. But …
The cost-of-living crisis has hit a lot of people hard, and unfortunately, making your wages last throughout the month has become somewhat of a challenge in recent months; with rising bills, this is likely to only get harder too. As …
by Martin Armstrong An Illinois county is paying illegal immigrants for making it across the border and winding up in the mess that is the Chicago area. US taxpayers already pay around $20 billion annually to support those who entered illegally, but …
