Working mom's tearful confession on family living paycheck to paycheck goes viral: 'I don't know wha

https://www.foxbusiness.com/media/w...n-family-living-paycheck-paycheck-multi-viral

I feel for this woman because I too have felt the very hard pinch of this modern post COVID economics. I have felt in groceries and vehicle costs the most and I haven’t even bought a house in the post COVID costs of housing. Luckily my housing cost was locked in by a locked in interest rate mortgage, where many renters felt that to exceed rate hike norms. It’s an utter shame what people are going through right now.

 

the global economy is suffering, and we buy much from the global economy

meanwhile, the Republican run fed is raising interest rates to keep wages from going up and to cool the Biden economy

 

Republican ran fed? What draws that conclusion

 

The global economy is also partially us. We are too overly regulated to allow for prices to lower to affordability. I would love to see regulations drop in many sectors. Allow pipelines to lower fuel. Fuel cost reductions affect every market including food. Fuel is one of the food markets largest expenses. You can’t run combines and tractors on solar so increases in fossil fuels will always increase food costs.

Quit regulating the car industry into utter extinction with these ridiculous mandates of unnecessary electronics and mandatory sensors. Things like tire pressure monitoring comes to mind.

quit with the endless attack on energy and we would see prices drop in every market.

 

FreshAir seems to be of the ridiculous opinion that since the Fed kept rates low during Trump's presidency but raised them during Biden's presidency, that they must be "Republican". What FreshAir doesn't seem to understand is that the Fed was under a lot more pressure during Biden's presidency due to rising inflation.
(If they didn't allow interest rates to rise in the presence of inflation, it would have created a lot more inflation, because they would have had to issue and loan out a lot more money at low interest rates. Otherwise the private sector is reluctant to lend at low interest rates when inflation rises)

 

the head of the FED, Jerome H. Powell, is a Republican

 

Lmao. Okay. That’s like saying Home Depot would tank their business to reflect bad on stats during democrats. That’s asinine.

 

sadly, many Trump supporters do want to harm the economy under Biden as they think it helps Trump

 

This can't be true.... All of the worshipers of Biden assured us that the economy is going along just swimmingly

 

Supposedly so is mitt Romney and Liz Chaney.

Did you have some actual point you wish to make?

 

Maybe at some point Democrats would hope to help the economy because they think it would help Biden?

I hope you do understand that no one on this entire forum or even the casual reader who wanders in...
Is remotely fooled by your constant attempt to blame Republicans for the state of the economy under a Democrat administration

 

the Republican run FED is harming this country, nothing Biden can do about it

 

Just keep repeating that over and over and pretend that anyone believes it

 

And you don't think if Biden and the Democrats didn't like the job he was doing, they could not easily kick him out and replace him?

(Not to mention that the Fed isn't entirely run by just the chairman, unlike virtually every other federal department)

I have a feeling like your claim is absolutely asinine and not even worth arguing over, but I'm willing to give you the chance to make your case.

 

everyone knows that the FED is harming the economy - you can keep pretending they are not

 

Are you claiming the Fed is harming the economy by doing something, or by not doing something?

 

they are harming the country by raising interest rates too high

 

That’s nothing more than a conspiracy theory. Tell me… Why didn’t Home Depot tank their sales if that was the case?

 

huh?

 

The Fed is not the one raising those interest rates.
When you read in newspapers that the Fed is "raising interest rates", that's not really actually true, precisely. The Fed is raising their target rates.
That's kind of like the temperature setting on a thermostat. If you set the temperature to 50 °F but IT IS 50 °F outside, your HVAC system doesn't need to do anything.

In this case, imagine it is 90 °F outside but the homeowner has increased the thermostat setting from 70 to 80.
That means the HVAC is lowering the temperature, even though the homeowner just "increased" the temperature. And now the HVAC isn't doing as much as it did before.

In fact, right now, the Fed is lowering interest rates (not lowering their target rate, but from what the interest rates in the private sector would be). The issue is they're just not lowering interest rates as much as some would like to see.

If the inflation rate is 4%, for example, then a lender needs to charge 4% interest just to be able to collect back their original wealth. (That doesn't even take into account risk, profit, and expected natural rate of return for any capital) And then lenders charge higher interest rates because they're worried inflation might even get higher than that over the time of the loan.