“A Constant State Of Sticker Shock” – Here Is Proof That Inflation In The US Is Wildly Out Of Control

Authored by Michael Snyder via The Economic Collapse blog,

Do you believe the politicians in Washington or do you believe your own eyes? 

The politicians keep telling us that “inflation is low”, but everyone can see that everything sure does cost a lot more than it once did.  Our standard of living just keeps going down, and even JPMorgan Chase CEO Jamie Dimon is admitting that “inflation is hurting people”.  But how can inflation be “hurting people” if it is under control?  Of course the truth is that it isn’t under control.  If the official rate of inflation was still measured using the formula that was in place in 1980, it would be well into double digit territory right now.  Prices have been rising much faster than paychecks have, and that is putting an extraordinary amount of financial stress on the more than 60 percent of U.S. adults that currently live paycheck to paycheck.

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More Americans Tapping Into Retirement Savings As ‘Hardship’ Withdrawals Rise

It just means Bidenomics is working.

Authored by Tom Ozimek via The Epoch Times (emphasis ours),

A significant jump in the number of Americans yanking money out of their 401(k) accounts to pay bills and buy necessities is the latest sign that the U.S. consumer is experiencing increasing levels of financial strain.

US dollar currency is counted in Los Angeles, Calif., on Sept. 22, 2023. (Patrick T. Fallon /AFP via Getty Images)

 

A new report from Fidelity, the nation’s largest provider of 401(k) plans, reveals a troubling trend—Americans are increasingly tapping their retirement savings in the form of hardship withdrawals and loans.

The report shows that 2.3 percent of U.S. retirement plan participants took a hardship withdrawal in the third quarter of 2023, up from 1.8 percent in the third quarter of 2022.

Top reasons given for taking a hardship withdrawal were avoiding foreclosure or eviction and covering medical expenses.

Besides hardship withdrawals, there was also an increase in the number of Americans taking loans from their retirement savings accounts, with this share growing from 2.4 percent in the third quarter of 2023 to 2.8 percent in the comparable period in the prior year.

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Bidenomics Is Bankrupting Americans, and Here’s the Proof

From Peter Reagan at Birch Gold Group

Despite President Biden’s insistence that the U.S. is experiencing the “greatest economic recovery ever,” the evidence suggests otherwise.

In fact, the U.S. economy could be heading for one of the most painful periods of economic turmoil of the last 15 years. And it’s all thanks to the disastrous policies known as “Bidenomics.”

People aren’t prospering in the Biden economy

It would be easy enough for the Biden administration to simply own up to the economic turmoil we’re all facing. Of course, that would be political suicide. They’re never going to do that.

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IN THE WAR ON TRUTH, IT’S TIME TO BECOME HEROES

“Truth is treason in an empire of lies.”George Orwell

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. …We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized.

Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. …In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons… who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.” Edward Bernays – Propaganda (1928) pp. 9–10

“Axis of Evil” seems to be interchangeable, based upon who the Deep State needs to be the enemy at any given time. Bush junior first coined the phrase in his January 29, 2002 State of the Union speech when describing Iran, Iraq and North Korea. Of course, we know his Deep State handlers then falsified claims of 9/11 involvement and WMDs, to take out Sadaam and steal his oil. The barely cogent doddering old fool senator McConnell this week declared Russia, China and Iran as the new “Axis of Evil”. You notice Iran is still in the club, but they now consider two nuclear armed superpowers to be evil and enemies. Kim Jong Un must be so disappointed at being kicked out of the club.

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Your Bidenomics $5,600 Per Year Pay Cut

From Peter Reagan at Birch Gold Group

Your Bidenomics $5,600 Per Year Pay Cut

Following the government’s panicked response to the Covid pandemic, the resulting economic devastation and two-plus years of historic inflation thus far…

There is finally some good news!

According to data released from the Bureau of Labor Statistics (BLS), wages are finally outpacing inflation:

In June, for the first time in 26 months, US workers’ real weekly earnings (a week’s worth of wages adjusted for inflation) grew on an annual basis, according to data released this week from the Bureau of Labor Statistics. Annual real weekly wages were up 0.6% last month, a rate that’s a tick below the 0.7% gain seen in February 2020. [emphasis added]

You can also see the good news represented on the bar graph below, followed by an official explanation that revealed “hours worked” actually decreased:

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