Wednesday, May 23, 2018

Hey Fed? Where is that lack of inflation again as your own report shows large portions of Americans can't afford to live

As the Federal Reserve continues to go out publicly each month and lie to the American people about how their policies of money printing and monetary expansion haven't created any real inflation, a new report out on May 22 from their own Board of Governors shows that a large portion of Americans can't even afford to pay their basic expenses to live each month.

Additionally, the report also shows that nearly half of all Americans have little or no savings, which means even the tiniest emergency could send tens of millions of families instantly into bankruptcy.

  • One-third of those with varying income, or 10 percent of all adults, say they struggled to pay their bills at least once in the past year due to varying income
  • Over three-fourths of whites were at least doing okay financially in 2017 versus less than two-thirds of blacks and Hispanics.
  • Over a quarter of young adults ages 25 to 29, and slightly more than 1 in 10 in their 30s, live with their parents.
  • Over two-fifths of young adults in their late 20s provide financial assistance to their parents
  • Nearly 25 percent of young adults under age 30, and 10 percent of all adults, receive some form of financial support from someone living outside their home.
  • While 8 in 10 adults living in middle- and upper-income neighborhoods are satisfied with the overall quality of their community, only 6 in 10 living in low- and moderate-income neighborhoods are satisfied
  • Seven in 10 low-income renters spend more than 30 percent of their monthly income on rent
This report by the Fed is not the only one to come out in the past two weeks showing that large portions of the American population are barely able to sustain themselves above the poverty line.  In fact in a study done by the United Way on May 16, over 40% of Americans who actually reside over the Poverty Line are finding it difficult to make ends meet each month.
A new study reveals that more than 40 percent of American citizens who live above the official poverty line are still unable to afford middle-class basics including cell phones and transport. 
The study, conducted by United Way ALICE (Asset Limited, Income Constrained, Employed) Project and exclusively obtained by Axios, found that an overwhelmingly large group of US households were virtually struggling to make ends meet. 
According to the study, two-thirds of US citizens were earning less than $20 an hour in 2016. As a result, a large band of US households sit uncomfortably just above the poverty line – but still struggle to pay for everyday expenses. The list of the basics found to be out of reach included rent, transportation, childcare and cellphones. 
Based on 2016 data, the study, which will be released in full on Thursday, claims that up to 34.7 million households fall into the category of those unable to afford middle-class basics. Meanwhile, a further 16.1 million were said to dwell in a state of actual poverty. The figures indicate that the overall number of those “in need” would hit 51 million, the study suggests. – Russia Today
With gas prices skyrocketing over the past two months, where even NYC has reported a price of $5 per gallon here in late May, and home prices are continuing to rise despite the fact that fewer buyers can afford them, the cost of everything is increasing several times faster than American's wages or salaries.  And as for the Fed, who has been preaching about how great the 'recovery' has been because of their policies for over nine years now, they will one day soon have to reap the consequences of their legacy by seeing the end of the Middle Class, and the destruction of an economy that used to provide the best standard of living in the world.


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