Wheel to no where...HAMSTER haven

www.washingtonpost.com/business/2022/08/...evere&location=alert

Credit card debt surged in the United States from April through June as Americans borrowed billions of dollars to continue spending in the face of growing inflation, according to a Tuesday report from Federal Reserve Bank of New York.
Share with The Post: What’s one way you’ve felt the impact of inflation?

Credit card balances increased $46 billion in the second quarter, a 5.5 percent increase from the first quarter, and there was also an uptick in new credit card accounts. The 13 percent increase from the second quarter of 2021 to the second quarter of 2022 was the biggest such jump in more than 20 years.

“Americans are borrowing more, but a big part of the increased borrowing is attributable to higher prices,” researchers for the New York

As I said over and over, the cure would be worse than the virus. Actually, the green new deal scam will be worse than Mao or Hitler could have ever dreamed of.

Adding debt when interest rates are increasing. President Biden is doing the same by adding more debt nationally.


Silver lining? Other Americans are slowing their spending and some prices are decreasing. Some food prices are declining, and clothing too.

FredHayek wrote: Adding debt when interest rates are increasing. President Biden is doing the same by adding more debt nationally.


Silver lining? Other Americans are slowing their spending and some prices are decreasing. Some food prices are declining, and clothing too.

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show source for food prices going DOWN.....not.....people r opting for store brand names, to save money. As for clothes and other merchandise,they are UNLOADING INVENTORY because of overstock (when ordering was done during pandemic)....they have found too much on shelves,hindering their bottom line.

One example? Ranchers who can't afford to feed their cattle herds in drought striken states are sending their herds to slaughterhouses earlier. This is lowering the price of beef.
And Ukraine is doing a better job getting their grain to market, using railroads instead of ships.

Oil dropped down to $90 a barrel this week, the price it was before the Ukraine invasion. This should make it cheaper to get food products to market and decrease energy costs to farmers.

FredHayek wrote: One example? Ranchers who can't afford to feed their cattle herds in drought striken states are sending their herds to slaughterhouses earlier. This is lowering the price of beef.
And Ukraine is doing a better job getting their grain to market, using railroads instead of ships.

Oil dropped down to $90 a barrel this week, the price it was before the Ukraine invasion. This should make it cheaper to get food products to market and decrease energy costs to farmers.

I just heard the price of beef is going up…. Maybe Biden can completely drain our strategic reserves and drop fuel prices another quarter. You just have to love a guy who sacrifices others to save his own half dead skin.

And gasoline is still $2 higher than it was two years ago.