As inflation bites the working-class hard, U.S. household savings rates continue dropping fast. When combined with drops in home values the loss in home equity compounds the issue. American families are getting poorer much more quickly under Joe Biden’s economic policies.
According to the Wall Street Journal home values dropped in August at their highest monthly rate of decrease since 2011 {link}. In part this is driven by higher mortgage rates which are pricing home buyers out of the market. However, the regional impact is worse on the west coast than east or southeast.
[…] The housing market has slowed abruptly this year due to a rapid increase in mortgage rates, which has raised borrowing costs for home buyers and pushed many prospective buyers out of the market. Existing-home sales fell for eight straight months through September. (link)
As noted in The Daily Mail review of a similar analysis: “It’s Northern California that leads the way, with San Jose experiencing a drop of 10.8 percent since September, followed by San Francisco at 8.5 percent, then it’s Seattle at 8.2 percent, Denver at 5.8 percent, San Diego 5.2 percent, Portland 5.1 percent, Las Vegas 4.8 percent and Phoenix at 4.4 percent.” (link)
What we are seeing is a confluence of events, generally brought about by the outcomes of larger Biden administration policy. Massive increases in energy costs are the result of energy policy; those increases are fueling inflation from the supply side on food, fuel, electricity, home heating etc. Simultaneously, Fed monetary policy is driving consumer demand down. The recession debate continues amid the economic think-tanks while Main Street outcomes show we have been in a recessionary period all year.

“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
First things first. To establish the context, what made Ian completely different from all other hurricane recovery responses I have been involved in comes down to two issues: strength of the storm (155+ mph winds), and more importantly the duration of the event (8+ hours of peak destruction).
The Trump administration tried to block Huawei from involvement in the 5G telecommunications system in the United States claiming there were national security interests that could be compromised.