The Bureau of Labor and Statistics (BLS) released the September wage report [DATA HERE] delivering worse economic news for workers.
Real wages are dropping at a historic rate as inflation continues to rise and as a result wages buy less.
[BLS] “Real average hourly earnings decreased 3.0 percent, seasonally adjusted, from September 2021 to September 2022. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 3.8-percent decrease in real average weekly earnings over this period.” (link)
REAL WAGE CHART:
As the Biden economic/energy policy and Federal Reserve monetary policy merge together, the economy shrinks. As the economy shrinks, fewer goods and services are purchased. As less consumer goods are purchased, employment hours drop. As employment hours drop, wages decline.
Declining wages combined with increased inflation forms the perfect storm against middle-class and working-class families. This dynamic means lowered income and higher prices for essential goods and services like food, fuel, energy and housing. It’s not difficult to see why this is happening.
The declining wage rates, and the more substantive drop in real wage rates due to massive inflation, are specifically hitting the lower tier of the working class harder. Yet despite this, Biden is intent on importing even more economic migrants to put even more downward pressure on wages for the working class.
These are very real outcomes of policy. Working class Blacks and Latinos will feel this even more, yet this is the special interest group that Democrats claim to support. The reality is exactly opposite from the narrative sold by the Biden administration.
The Democrats know this. These outcomes are not accidental; they are a feature not a flaw in their policy. This is why they need to keep spending to retain the ruse.
There’s no way around this. Despite the pundit and financial class selling a counter-narrative, home prices will crash, and unemployment will go up. I know this is directly against the current talking points, but the statistical reality is clear.
CTH was the first place who said a year ago that home sales will plummet, that is starting to happen right now. There’s no way for it not to happen, the big picture tells us why.
With Progressives the GPD and the CPI always seem to do the opposite of what they “expect”. These people have never understood human behavior and macroeconomics or the fact that people will always do what’s in their best interests first economically speaking.
The declarations of, unexpected, are just them continuing to sell the lie they used to sell the policies.
And brainwashed CNN and MSNBC voters keep voting for them as they see their lives destroyed.
“Well, the trouble with our liberal friends is not that they’re ignorant; it’s just that they know so much that isn’t so.”
-Ronnie,
Persaonlly I think they understand, but lie, as their goal is to destroy America and it’s hard working citizens so they can take total control.
. . . lie to take total control. You mean like the state government pandemic lockdowns which drove millions of small businesses OUT of business. Only a few state governors handled the pandemic correctly. Let’s not forget about NY, PA, NJ, CT who mandated that C19 positive patients be put in nursing homes with the non-sick patients when the nursing homes told the governors it wasn’t safe. Answer: immunity from lawsuits for nursing home deaths of which there were tens of thousands.
Just like none of us knew how our lives would change when the pandemic hit, we don’t know right now about the very soon.
Build your house upon the Rock so that you may weather the storm. I have a feeling, none of us will care all too much about the plandemic when what they’re planning next hits.
And I don’t think we’ll care all too much about what comes next once it has happened and we’re getting hit by the next next thing. This ride doesn’t stop until we stop it.
I just watched the 1984 BBC production Threads on YouTube. A very realistic portrayal of what a nuclear holocaust will bring. I have bought potassium iodide tablets, but honestly don’t want to be around should the big ones fly. May God Save America!
I check into CTH often. Sundance has alerted us multiple times about what is coming. I’m so grateful for the truth being unapologetically presented.
I have talked to educated and well informed people about inflation. Their argument is always that demand is high! They have never ever considered that the war on oil by Trudeau has created a this.
I’m so thankful to Sundance for the insight.
DD
“well-informed” ? Your description of their argument indicates they are anything BUT well informed. They are apparently indoctrinated with Establishment/MSM narratives.
But Delusional Joe is gonna’ give you a cost of living update to your SS, 8.7%, said to be the highest raise in 40 years. And, isn’t it convenient how the announcement comes right before midterms.
BUT, it is his fault the cost of living is off the charts with no end in sight, and this is just s drop in the bucket as to what is overdue to SS recipients.
No one should ever have to pay into SS EVER! Every employed person should be allowed to manage their monies as they see fit. If it were that way, the lazy ******ds who get all the handouts wouldn’t exist! They too would have to work.
If given the option, I would have purchased 2 gold coins each month as my retirement saving.
Do undocumented workers pay into SS? The companies that pay them should
have to .
I retired from a place that you could quit after 10 years.
Pull out your retirement…then re apply after 6 months and start over at your previous wage.
You also paid taxes on the money from the retirement pay out..which usually put you in a higher tax due to the amount.
And when you came back after the 6 months….you were back to day 1 in retirement years and funds.
I tried many times to talk people out of doing it. Many refused to listen…the temptation of the bright shiny toy they wanted ..or the trip and year long vacation at an exotic location–they couldn’t resist.
They later said they made a mistake when they didn’t listen….
I did have one youngster who went to another agency and kept his money in the company retirement. I ran into him years later….and he thanked me for my advice!
I would say 10 didn’t listen and 1 did.
Not all people can handle managing their retirement accounts.
I have seen it firsthand.
I hope they enjoyed their vacations, and I hope they don’t have hands open now!
I have been checking internet job listings for the last 6 months and have found that a lot of the listings looking for employees are over 30 days to 6 months old. By trying to do the end around and contacting employers directly I have learned that they are not even hiring for the listed positions.
It’s like these job boards are trying to give the impression that there is a labor shortage.
It seems to me that when people apply for these jobs, the job boards are just building a data base/a psychological profile.
When I do find a company that is actually hiring the posted wages are higher than what they are willing to pay, bait and switch.
Most that are hiring are looking for low level cheap labor.
I been told that I’m over qualified and they wont tell me what they are paying because they don’t want to insult me.
I would swear that this dynamic has been in play for more then 6 months.
It would explain some of why I got so little feedback when I was job searching when I had just gotten my engineering degree.
Yeah, right? I was passed over for a position and asked for feedback after the interview.
Crickets.
Having been in management many years, this burns my biscuits.
I foresee many people uprooting to the countryside within states. Growing their own food and drinking their own well water. They would only need to find property tax each year, and that is exactly what I do. Stuff the system and politicians salaries!
Within the aviation industry, a significant issue driving a shortage of pilots is organizations requiring the “jab”; there are quite a few people who refuse to participate in that hoax, in most cases very qualified and experienced aviators. As an example: I fly under a CONUS DoD flight training contract as an instructor. When the company tried to mandate the “jab”, well over half of the instructors said “no thank you”. We can’t be easily replaced, and this is a lucrative contract for them…the mandate quietly faded away.
Was approached about a week ago about returning to an overseas DoD flying contract “hunting bad people” that I had worked around 8 months ago. Seems that it’s difficult finding pilots with the requisite multi-engine hours and requisite mission experience (I’m 65, so they are digging deep). Turns out that a “jab” is required: told them “that’s a damn shame”.
Have little sympathy for self-inflicted pain
Hampton Roads Va area. We moved here in late summer 2019. I have had Indeed job alerts for many positions I am qualified for since then. I see, time after time after time, the same job listings reposted. One job the pay was up to nearly $18 posted but HR claimed part time is locked in at 12.99. Big red flag! I walked away from that offer. I too am over qualified for many jobs in this area. What a bummer.
I’ve been saying this for at least a year. No one believed me then and still don’t. I lived thru Carter, worked in mortgage banking, it was horrible. We had more foreclosures than loans. No one could by a house at 14%!! Its coming again, you can’t stop it. Wake up!!
Wait till the you know what hits the fan when tens of millions of home owners find themselves under water on their mortgage. Look for a shortage of tar and pitchforks. FJB and his phantom 81 million voters.
Oh, yes, I recall those days, I worked in the credit agency, and car loans were Average 19% to 24%, and the minimum was 12% for a car! Crazy.
My home price has gone down over $100k in the past three months, and, sales in the area have stalled. You were absolutely correct.
Boise Idaho area.
We made it out by the skin of our teeth on Mom’s estate in OR which is closing tomorrow. Lost another 100k on that one but happy to have it sold.
People on benefits with their added SNAP/EBT are now better off than those who go to work!
VOTE THESE AH’S OUT!
There are two interesting facets to this disaster.
The first is that the “Economists” in charge of money policy have never worked a financial job in their lives that would educate them on how stuff is made nor priced. They derive nebulous bottom line numbers based on numbers developed defined guidelines. In the spring of this year, those guidelines were changed to facilitate Economic Predictions using the very same discredited methods used during Comrade Obama’s regime, which is not surprising since Comrade Obama’s ex-Economists are the ones doing the predicting today.
The second point is that the Economists are being directed by people who do know the damage they are doing to the Economy and US Citizens … that is the job of the Blackrock staffers working within the Government and Corporate Members of the Economic Council.
As Sundance states, this is premeditated, planned and executed by people within the government and supporting the government who know exactly what they are doing.
I thank god everyday for the blessings he bestows on my family. I don’t know what we are doing different but despite everything happening around us we continue to not only put food on our table but thrive in this environment.
God is good.
Well, you must be “doing different.” Care to share how you are thriving and where?
I wouldn’t even know where to begin telling you the little decisions that were made that led to such fortunate circumstances. As I said God is good and I am truly grateful.
But I’m doing GREAT, SoSec goes up $140 in January! 😑
And Democrats want to make Medicare available to 50 year olds.
Retired Magistrate here: By today’s standards, our house is old, built in 1957, but everything works and it is paid for. Unfortunately, we heat with fuel oil, which is now $4.72 per gallon. Our furnace is 18 years old but is made in America and it’s efficiency is 81.6%, which is pretty good; the news ones are at around 85%.
Our cars are older, but run and are paid for. We have our own well and septic system and a generator if needed. The pantry is stocked and we live across the road from a river and we have wildlife going through our back acreage every day. We are both in our 70’s and have lived through the Carter years. I don’t know how much longer we have on this earth; however, we are as prepared as we can be.
We encourage our neighbors and try and give them tips on how to save money, but most are younger and don’t want to hear it. So, life goes on; we enjoy the love we have for GOD, our country and each other.
Make this day your best.
God bless you Marcia.
I have a stupid question. Let’s assume that congress goes red. How can they stop the Biden regime in the next two years to continue their destruction of America? The democrats have built up a two to three trillion war chest to do anything this still want to do to destroy us. How can congress get more oil out of the ground, as an example? Hold hearings? They can’t impeach anyone as they won’t have 67 votes in the senate. So other than being a nuisance, how can they stop the Biden regime ?
The only way to win, is to opt out of their system as much as possible.
Congress Legislates.
Congress Approves.
Congress defines spending limits.
Congress can sue … it was actually done successfully during the Comrade Obama’s regime.
Congress is NOT helpless even in the face of the manipulated Sock Puppet.
Congress also has a bully pulpit that c n be used, as well, to point out what is happening.
The bigger question and doubt is if a RED Congress will actually do something or pull another 2014-2016, while they allowed Comrade Obama enough latitude to actually use hispen7cell phone.
Many of the people ‘behind’ Joe Biden actually believe ‘there are too many people’ in our World. We’re lucky, in that, we (USA) should survive these dire times. … Many poor countries are facing mass starvation. Food production has been inhibited already. … There might NOT be enough food in the world to feed everybody. [Personally, I’d support killing the Whales to provide meat, for starving people, if it’s necessary.]
Many leaders in the World have joined with ‘Joe’ for the destruction of our modern world. TheConservativeTreehouse has often printed a Map of the world, with the ‘Climate Change’ leaders and governments appearing in yellow. The rest of the world is in grey.
These same leaders seem to want a Nuclear War with Russia. [Substantial money and military support is being given to Ukraine. NATO has become an Aggressive War Organization. +The ‘Gain of Function research facilities sound like ~possible biological weapon development.]
+And, there are more than a few ~medical warnings about the continued health problems ~caused by the ‘Covid’ shot. … How many billions of people have received the ‘vaccine’ injections? Do the World Leaders receive the same shot as regular people? How many of our ‘Elite’ politicians have we seen on the ground with seizures? Are we receiving accurate information about Covid ‘Vaccines’ from our government?
DO I SOUND PARANOID? Millions and Millions of people, here in America and our world, are worried about our future.
This is going to create a massive Local Tax headache.
Local Taxes are directly tied to valuation of the property being taxed. For NEW Home Owners not protected by Homestead Laws for the 1st Tax Year … the highly inflated market value of their new homes potentially falls all the way back towards pre-2021 or even 2020 Market Values. This potentially makes the “appraised” values used to set tax basis way way to high and subject to appeal. Local Tax notices have already gone out in many places or are imminent.
Bottom line … all those expected increased tax revenues by local governments potentially evaporate.
These Democrat Socialists have finally heeded Maggie Thatcher’s admonition about “running out of other peoples money” by moving on to spending money that doesn’t exist in the first place.
stolen elections have consequences. Thanks Pence and McConnell.
Vote. Do not stay home. Volunteer for your local GOP to make sure legal votes only are counted.
When mortgage rates fell to 3%, those of us still around felt like we were living back in the 1950’s.
However, it’s become evident the more apt historic period we should have been looking at was the “runaway inflation” of the 1970’s.
Altho it wasn’t widely understood at the time, the chief driver of that economic shock were the Arab Oil Embargoes of that decade..
The only difference this time is it’s OUR OWN GOVT who’s behind this current Energy Boycott!
You can be one of two things in this world. You can either be a cure or you are the disease. Joebama and that administration IS THE CANCER! The whole Democrat Party seems to be headed in that direction.