Tuesday, June 28, 2022

Some might argue:

 


 You might as well chuck it all, get a bike, and ride and live like you want, not how society expects.

Some of us saw it coming.

Just sayin...

Why go on being a slave to some worthless paper?


58% of Americans are living paycheck to paycheck after inflation spike — including 30% of those earning $250,000 or more


58%.

But our economy is strong they wanna tell ya.

Even with record or near record  level Consumer and

Government debt etc...


"WE"


"There are several “knotty structural problems” 

that he says can’t be helped by an accommodative monetary policy, 

including

 unsupportable pensions,

mounting consumer debt,

a health-care system that’s bankrupting the country,

outrageous student loan debt,

funding unwinnable wars, etc."


That was April 2020.

Covid wasn't even raging quite yet.


Okay now the article...

"Even top earners say they are stretched thin, the report found. Of those earning $250,000 or more, 30% are living paycheck to paycheck. (Another recent survey, from consulting firm Willis Towers Watson, estimated 36% of those earning $100,000 or more are living paycheck to paycheck.)'

Consumers have experienced a tough last couple of years as different factors have affected their financial lifestyle, and there seems to be little relief in sight,” said Anuj Nayar, LendingClub’s financial health officer.


(News flash: There is not going to be any relief, your relief is to draw near to your Lord and savior Jesus Christ. Thats the only relief you're ever gonna get.)


The consumer price index, a key inflation gage, rose 8.6% in May from a year ago, the highest increase since December 1981, spurred by surging housing, gasoline and food costs.

(Thats an accident? The three very things people can not do without are what is driving this surge? I dont think so, somebody is trying to get you to see we are not in charge and to accept him.)


"Those struggling to afford their day-to-day lifestyle tend to rely more on credit cards and carry a higher monthly balance, making them financially vulnerable, the survey said."

"Overall, credit card balances rose year over year, reaching $841 billion in the first three months of 2022, according to a separate report from the Federal Reserve Bank of New York.'


"At this rate, balances could soon reach record levels amid higher prices for gas, groceries and housing, among other necessities, according to Ted Rossman, a senior industry analyst at CreditCards.com.

For its part, the Federal Reserve has been hiking its target federal funds rate in an effort to calm runaway inflation.

However, anyone carrying a balance will also see the annual percentage rate on their credit card head higher as the Fed continues to raise rates to try and tamp down rising prices."


Pretty soon people wont be able to afford the credit card payments.

Then what?


I think we already know what lies in store and it's not pretty.


1 Thessalonians 5:16-18

Rejoice always, pray continually, give thanks in all circumstances; for this is God’s will for you in Christ Jesus.


Amen.

I love you baby :-).

TTYS






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