Americans Getting Poorer As Prices Go Up 5.4% Year Over Year And Wages Can’t Keep Up

[mystery-ak]

Americans Getting Poorer As Prices Go Up 5.4% Year Over Year And Wages Can’t Keep Up


Brianna Lyman
Reporter
October 14, 2021 11:34 AM ET


Americans will soon be shelling out a lot more money — if they haven’t done so already — to buy basic necessities as inflation escalates, the costs of goods surge and wage growth can’t keep up.

Some households may see their heating bills more than double when compared to the previous winter as prices for oil and other fuels surge, The Associated Press reported Wednesday. Many people might soon be paying on average $746 to heat their homes this winter, a near 30% increase when compared to more than a year ago. Americans who live out in the Midwest could see their heating bills jump 49%, putting 2021 as the most expensive year for natural-gas heated homes since 2008-2009, the AP reported.

Homeowners trying to stay warm won’t be the only ones bearing the burden of inflation. Consumer prices in September of 2021 were a whopping 5.4% higher than they were the previous year, according to the Consumer Price Index. This is the highest year-over-year inflation since 1991.

https://twitter.com/byHeatherLong/status/1448265247790350336

[Hoodat]

Democrats love poor people so much that they keep creating more and more of them.

[mountaineer]

Kyle Becker
@kylenabecker
·
16h
They are intentionally fueling inflation to harm poor people to expand the need for government assistance.
Why can't more people figure this out? It's plain as day.

It also helps the uber-rich. The people who get screwed are the working middle class.

[Hoodat]

Balance the budget today, and inflation stops.

[mystery-ak]

https://twitter.com/byHeatherLong/status/1448268392398561280

[Hoodat]

Heather Long
@byHeatherLong
Where are Americans seeing inflation?

A lot of places:
Rental cars +43% over last Sept
Gas 42%
Used cars 24%
Bacon 19%
Hotels 18%
Beef 18%
Pork 13%  .  .  .

Inflation is the one thing that is 100% under the government's control.  Don't let them tell you for a second that it's China's fault, or Covid's fault, or Big Oil's fault, or any of those things.  Inflation is caused by expanding the money supply.  Period.

[Bigun]

What the hell did anyone think was going to happen after passing out all that free $$$?

[Kamaji]

https://twitter.com/byHeatherLong/status/1448268392398561280

Fuel oil (e.g., heating oil) is also up about 33% to 40%. 

[Hoodat]

On this date in 2008 (back before the Federal Government decided to finance deficit spending by printing new money), our national debt was $10.8 trillion.  Today, it is $28.9 trillion.  That is an $18 trillion increase in the money supply over the last 13 years.  That is $18 trillion in value that has been stolen from the American people.  That comes to $30,000 for every man, woman, and child in America.

Here's the catch.  Wages are never going to keep up with inflation.  Your value (i.e. your standard of living) has been stolen by the government.  And they're not giving it back.  On the contrary, they are lining themselves up to steal another $5 trillion before the year is out.

The only way the government can restore your value back to you is to collect $18 trillion in tax money, pile it up in the middle of a field, and set it on fire.  But of course that would mean you would be the one paying that $18 trillion so that chuck roast could go back to $2.49/lb and oranges could go back to $0.63/lb.

What your government has done to you makes Enron make like a lemonade stand selling weak lemonade.

[Bigun]

On this date in 2008 (back before the Federal Government decided to finance deficit spending by printing new money), our national debt was $10.8 trillion.  Today, it is $28.9 trillion.  That is an $18 trillion increase in the money supply over the last 13 years.  That is $18 trillion in value that has been stolen from the American people.  That comes to $30,000 for every man, woman, and child in America.

Here's the catch.  Wages are never going to keep up with inflation.  Your value (i.e. your standard of living) has been stolen by the government.  And they're not giving it back.  On the contrary, they are lining themselves up to steal another $5 trillion before the year is out.

The only way the government can restore your value back to you is to collect $18 trillion in tax money, pile it up in the middle of a field, and set it on fire.  But of course that would mean you would be the one paying that $18 trillion so that chuck roast could go back to $2.49/lb and oranges could go back to $0.63/lb.

What your government has done to you makes Enron make like a lemonade stand selling weak lemonade.

 

[skeeter]

On this date in 2008 (back before the Federal Government decided to finance deficit spending by printing new money), our national debt was $10.8 trillion.  Today, it is $28.9 trillion.  That is an $18 trillion increase in the money supply over the last 13 years.  That is $18 trillion in value that has been stolen from the American people.  That comes to $30,000 for every man, woman, and child in America.

Here's the catch.  Wages are never going to keep up with inflation.  Your value (i.e. your standard of living) has been stolen by the government.  And they're not giving it back.  On the contrary, they are lining themselves up to steal another $5 trillion before the year is out.

The only way the government can restore your value back to you is to collect $18 trillion in tax money, pile it up in the middle of a field, and set it on fire.  But of course that would mean you would be the one paying that $18 trillion so that chuck roast could go back to $2.49/lb and oranges could go back to $0.63/lb.

What your government has done to you makes Enron make like a lemonade stand selling weak lemonade.

Government always was considered a necessary evil. But now it has become an unnecessary, very expensive one.

[Fishrrman]

Fellow comrades...

The budget is never again going to be balanced.
The debt/deficit (makes no difference, whatever you call it) is never going to be "paid off".
Not in the lifetimes of anyone reading this post in October 2021.
Not in the lifetimes of their children.
Not in the lifetimes of their grandchildren.
Not in the lifetimes of their great-grandchildren.

It is... what it is.
The Party has a better chance of shucking off the debt than the Republicans will ever have.
The Party may someday decide to simply renounce the debt and start over, regardless of the consequences..
And... with that... it will be gone... POOF... blown away in the wind.
There's far more a chance of that occurring than of The Congress voting in a balanced budget again.
Ever.

[cato potatoe]

This has spiraled out of control, and Republicans share much of the blame.  Expansionary fiscal and monetary policy was enacted by Trump.  Now the people have become addicted.