Guest Post by Martin Armstrong
I reported in September that the Heritage Foundation estimated that the average American lost $4,200 since Biden became president. Within only a month, their analysis for October revealed that the average family had lost an average of $7,400. Around $6,100 of the loss came from annual income, while interest rates cost the average American $1,300 annually. For the analysis to nearly double in the course of a month is alarming, and it is reasonable to suspect that losses will become steeper due to current policies.
The Heritage Foundation said this estimate, obviously, does not “fully reflect the pain experienced by families.” They did not factor in losses from retirement accounts or investments. They certainly did not count the number who lost their careers due to pandemic mandates. Nor did they factor in the increased cost of borrowing money, mortgages, or the doomed bond market. They also did not factor in that he caused the public to lose all confidence in the government.
All gains under the Trump era were erased in less than two years. The changes that a new administration can implement are astronomical. The spending packages pushed forth acted as a temporary band-aid over a wound that will never heal. At least the generally uninformed public believed those packages would help, but that tide is turning as they can no longer offer unlimited free handouts. The economy was brought to a screeching halt in 2020, and absolutely nothing has been done by Washington to improve conditions since then. The spending packages lack all common sense and seem to be a deliberate attempt to hurt the country.
Anyone who wants to pay more for everything – go ahead. Those of us who voted for sensible politicians with real plans will send you the bill.
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
Households have lost trillion$ under the Federal Reserve Bank since 1913. Biden’s a daft old poof.
.
MORE:
https://www.lewrockwell.com/?s=end+fed+ron
Somebody should add up all the bonds to “improve’ schools that were on the ballot all over the country to show just what is going to be taken out of the property owner’s pockets for the next thirty years. Then add that to the bonds passed last year and the year before, throw in the ones for ‘ athletic parks’ and other improvements for good measure.
Always like the way the news whores say “It will only add twenty five dollars a year for a $150 thousand house ( as if there is such a house or at least in my area ) and by the way there is a bond to build low income housing, just another twelve dollars a year (for the rest of your life).”
Ginger
Poorly written article. The loss should have been broken down between income, and what the average family has lost in home equity and retirement savings. The number is much bigger than the article leads you to believe.
http://www.shadowstats.com/
https://wtf1971.com/
By 1972 it was apparent the labor force was doubling without the population changing.
….and with overarching truths like this and the many others of our sick economy the ‘red wave’ never happened during a midterm election. Please…the blue fraud wave worked and yet the House will still be in GOP hands when all is said and done.
Deficit spending transferred more that $7,400 per household to covert owners of the Fed. The Federal Reserve system is alleged to covertly transfer $4 billion ‘profit’ derived from auctions of Treasury securities [government money] to unknown Fed shareholders DAILY [per each trillion of annual deficit spending]. All profit of the Rothschild’s Fed legally belongs to the government. The relevant accounts have never been audited. Ref.
THIS IS OUR BANKING SYSTEM.
US Households Lost Over $7,400 Under Biden…. and we are not even two years in yet, still two years to go. And the worst of his polices are yet to be felt. The coming recession/depression will tell us how bad Biden has been. Also Biden’s excuse the Republicans will wreck the economy when they take Congress is no longer valid, they cheated their way to full responsibility.
Just saw another repo ,a Ford exploder was just grabbed in 20 seconds at my complex lady just moved in a few months ago. It’s getting to be alot like 2008.