Are you better off than you were a year ago?

[gjbankos]

Cranky Banky is back with another useless post. Why are you so useless?

What's with the handle changes, are you suffering from an identity crisis?

There you go again - ignoring the point and going right to personal insult. It's because I'm right. I'm always right. I have been since day 1. Your home appreciation is meaningless unless you are planning on moving into an RV.

You are just a bore.

Go ahead and respond with some useless drivel.

 

[SLUPSU]

There you go again - ignoring the point and going right to personal insult. It's because I'm right. I'm always right. I have been since day 1. Your home appreciation is meaningless unless you are planning on moving into an RV.

You are just a bore.

Go ahead and respond with some useless drivel.

I might understand your thinking if I lived in a 200k shack, but I don't. Anyway, you're too closed-minded to see the positives of the wealth effect and the potential economic impact of a number pushing a TRILLION dollars in increased home equity.... not surprising, you're not right about anything.

 

[m.knox]

Yes, Hermy, I am better off now than a year ago. Thank God for California real estate!

LOL... so you pay more taxes.... Congratulations.

 

[m.knox]

Stop acting clueless, you can change your handle. He did and then changed it back, it was something like ibleedblueandwhite.

LOL... so you are saying that he didn't get banned and HAVE to change his handle............

 

[mijowe]

LOL... so you pay more taxes.... Congratulations.

I routinely decline pay raises to keep my taxes lower.

 

[SLUPSU]

LOL... so you are saying that he didn't get banned and HAVE to change his handle............

LOL.... so you admit you are clueless.

 

[LafayetteBear]

Your home appreciation is meaningless unless you are planning on moving into an RV.

Bankofstupidity: Imagine how surprised all those people with HELOCS (home equity lines of credit) are to hear your "news."

BTW, thank God you are back posting a little. We had to make do with fewer guffaws each day while you were away.

 

[bkmtnittany1]

There you go again - ignoring the point and going right to personal insult. It's because I'm right. I'm always right. I have been since day 1. Your home appreciation is meaningless unless you are planning on moving into an RV.

You are just a bore.

Go ahead and respond with some useless drivel.

Yea....you are always right. Hey asshole, here are some of your greatest hits:
Lou Barletta will kick Bob Casey's ass in a US Senate election...how did that workout?
Matt Cartwright will get destroyed in a HOR election....Right again!!!
Trump will win 2020 in a landslide!....Nailed that one!!
Trump will get 400 electoral college votes!!!....That one was my favorite!
You are always WRONG! FIFY!!!
Go knock on doors moron!

 

[junior1]

There you go again - ignoring the point and going right to personal insult. It's because I'm right. I'm always right. I have been since day 1. Your home appreciation is meaningless unless you are planning on moving into an RV.

You are just a bore.

Go ahead and respond with some useless drivel.

I'll go along and agree that you're right again..as usual.

Home appreciation is meaningless, but you can use that appreciated wealth (some of it) through a refinancing to pull that money out and use for other purposes. Yes, monthly payments would be higher, but you'd be paying with out year dollars and have the use of your appreciated wealth now. But I'd bet you know this already

 

[Steve G]

You are certainly not better off if you need to buy a car or a house......

https://issuesinsights.com/2022/02/15/are-you-better-off-than-you-were-a-year-ago/

Let’s go through some of the specifics of how we’re worse off than a year ago.

Inflation is up. The year-over-year inflation rate in January was 7.5%. A year ago it was 1.4%. For the second half of 2021, prices jumped 6%, a rate higher than any year since Jimmy Carter’s stagflation gripped the nation.

This is definitely making people worse off than last year. An analysis by Moody’s Analytics – the same outfit that praised Biden’s rescue plan a year ago – finds that inflation is costing households an average of $250 a month.

“A lot of people are hurting because of high inflation,” Moody senior economist Ryan Sweet told the Wall Street Journal. “$250 a month – that’s a big burden. It really hammers home the point of ‘what is the cost of inflation?’”

Wages and disposable income are down. Biden keeps claiming that wages are climbing. And they are. But inflation is climbing faster. As a result, after adjusting for the rapid rise in prices, average weekly wages are down 3% from a year ago.

So is disposable income. Data from the Bureau of Economic Analysis show that real household disposable income was lower in December 2021 than it was at the start of the year, and back down to where it was in November 2020.

The Misery Index is up. When Biden took office, the Misery Index – which simply adds the unemployment and inflation rates together – stood at 7.7 and it was falling fast. It peaked at 15.03 in April 2020 after the COVID lockdowns threw millions out of work. But instead of continuing to head back down to the 5.8 level it was before COVID, the Misery Index has steadily climbed under Biden. It is now at 10.94, with increases in inflation swamping the decline in unemployment.

Consumer confidence is down. The University of Michigan’s Index of Consumer Sentiment has been nosediving since last spring and this month hit a low not seen since 2011 – when Biden was vice president.

As the UofM put it, “sentiment continued its downward descent, reaching its worst level in a decade, falling a stunning 8.2% from last month and 19.7% from last February.”

The IBD/TIPP Poll’s Economic Optimism Index dropped to 44 in February (anything under 50 signals a pessimistic outlook). It was 51.9 a year ago. The poll also found that personal financial stress is higher now than when Biden took office.

Dissatisfaction is up. An ongoing Gallup survey finds that nearly two-thirds of the public are dissatisfied with the state of the nation, up from 55% in January 2021. The year before that, only 29% said they were dissatisfied.

This is a fairly remarkable list of failures in just one year. And unless Biden dramatically changes course, we don’t expect this picture will brighten over the next 36 months.

When Ronald Reagan was running against Carter in 1980, he asked Americans “Are you better off than you were four years ago.” The answer was a resounding no. It’s unfortunate that the public will have to suffer three more years of Biden’s ineptitude before it can deliver its answer to that question.

There is, however, one way we are all better off than we were a year ago. We have one less year of Joe Biden in office.

Much better, thanks for asking

 

[kickerinaz]

Absolutely

 

[m.knox]

Much better, thanks for asking

Think of your patients Steve....