Inflation Ramps Up as Companies Talk Layoffs & Feds Hike Interest Rates Again

Liti­tia James is refer­ring Don­ald Trump to the IRS and refer­ring him for a crim­i­nal inves­ti­ga­tion but this is a civ­il suit.

Infla­tion is not going to be tem­po­rary. Infla­tion is going to be a major prob­lem. They are start­ing to talk about lay­offs. Com­pa­nies are cut­ting back. Home build­ing is slow­ing down dras­ti­cal­ly. Car sales are slow­ing down. We are hit­ting the 60 day stretch to Christ­mas. Wait until Christ­mas. The large pur­chas­es are going to slow down. Com­pa­nies are pulling back a lit­tle bit.

How a fed rate hike will affect your fam­i­ly. Cred­it cards and auto loans will be more expen­sive. Think about all the years dur­ing Trump’s pres­i­den­cy and the cred­it com­pa­nies had major ad cam­paigns. And com­pa­nies that were ready to expand and need­ed a lit­tle extra cap­i­tal. Those cards are not zero per­cent. Every small busi­ness that uses the cards for oper­at­ing cap­i­tal will be pay­ing for it in an enor­mous way. Fed Chair­man Jerome Pow­ell warns it will be very chal­leng­ing to tame infla­tion with­out steep job loss­es as inter­est rates go to 3.5% high­est since 2008. Lay­off shut­downs hit mort­gage indus­tries, the under­writ­ers and employ­ees of the mort­gage indus­try will be hit hard. Home sales from in August 20% year over year and .4% in July, for the sev­enth month in a row.

The low­est rung on the eco­nom­ic lad­der is hurt­ing so bad. When have you heard the media talk about the increas­es in food stamps? There have been cost of liv­ing rais­es in social secu­ri­ty. Is Infla­tion affect­ing the food stamps and how much is going out. There is so much that we dont talk about and it isnt dis­cussed. Is the nation­al debt at a fixed rate, because we nev­er talk about it? Does the inter­est rate going up affect the nation­al debt inter­est rate? Con­tact BKP if you have the answers.

The wage increas­es that the democ­rats are tout­ing about have been eat­en up by infla­tion. The stim­u­lus checks have been paid back. The rais­es and stim­u­lus checks are long for­got­ten and pay­ing for it. But democ­rats think you have absorbed it.

Stock mar­ket went down 500 points yes­ter­day. The Feds are going to announce anoth­er rate increase.

These politi­cians have nev­er been con­cerned with liv­ing on a bud­get. Biden was sworn into office in the 70s. Major­i­ty of the mem­bers of con­gress dont under­stand liv­ing on a bud­get, had to keep track of what was being spent in the gro­cery store with the cal­cu­la­tor out, or had to put some­thing back because there was­nt enough mon­ey. Joe Biden has nev­er expe­ri­enced liv­ing on a bud­get and has no under­stand­ing of what Amer­i­ca is going through.