The Wonderful Biden Economy. Not.
Joe Biden would have us believe that the American economy is growing and that all is hunky-dory. Well, I can’t really say for sure, I don’t live in America now. All I know is I can’t AFFORD to live in America because it’s too expensive and my income is too small. Biden’s inflation is a part of that.
I also know the following:
--Americans have reached a new record of credit card debt, over $1 trillion. People are obviously using their credit cards to live on to counter Biden’s wonderful economy;
--GDP is largely being financed by government spending a debt. If you let me borrow and spend as much as I want to, then yeah, my economic situation would look good, too. And, of course, this has exacerbated the inflation problem Americans have been facing for all of Biden’s term in office;
--Full-time jobs are being replaced with part-time jobs. In December, more than 1 million full-time jobs were lost. That ain’t good;
--Mortgage rates hit their highest in 40 years; median home prices are virtually unaffordable in most parts of the United States;
--Car loan debt is the highest in history. Interest rates are the highest they have been since 2001. Delinquency rates are at their highest level in 30 years.
If you are rich, you can weather this storm. If you are middle-class, you are hurting.
Or you are living in Thailand, like me.