Conservative Brief – Genesis Wealth Defense https://genesiswealthdefense.com There's a thin line between ringing alarm bells and fearmongering. Thu, 24 Oct 2024 09:29:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://genesiswealthdefense.com/wp-content/uploads/2024/09/cropped-Money-32x32.jpg Conservative Brief – Genesis Wealth Defense https://genesiswealthdefense.com 32 32 237551656 40% of Americans Have Difficulty Paying Bills Under Biden-Harris: Report https://genesiswealthdefense.com/40-of-americans-have-difficulty-paying-bills-under-biden-harris-report/ https://genesiswealthdefense.com/40-of-americans-have-difficulty-paying-bills-under-biden-harris-report/#respond Thu, 24 Oct 2024 09:29:10 +0000 https://genesiswealthdefense.com/40-of-americans-have-difficulty-paying-bills-under-biden-harris-report/ Nearly 40% of Americans are worried about being able to pay all of their bills on time, a higher percentage than during the Great Recession of 2008-09, according to a new survey.

A CNN poll revealed that 39% of Americans are concerned about consistently paying their bills, a 33% increase from the peak of Biden-flation and exceeding the 37% during the 2008 crisis, when unemployment was nearly 10%, the outlet reported, citing the polling results.

Inflation during the Biden-Harris administration has reached new heights in the modern era, and while it has eased somewhat in recent months, it remains stubbornly high, raising the costs of food, gasoline, housing, and other basic amenities like utilities. CNN added that “consumers are still trying to catch up to the price spikes of the last few years.”

The Daily Signal, citing the survey, added:

Still trying to catch up is an understatement. The gap between nominal wages and inflation-adjusted wages since 2021 is more than 20%. So, it looks like you’re making a lot more, but even accounting for official inflation, workers have lost thousands in income.

Of course, if official inflation is a lie, which seems likely, going by real-world prices from housing to restaurants and groceries, then workers have lost a lot more.

To illustrate, official inflation since COVID-19 is 21%, but fast-food menu prices—a standard finance proxy for true inflation—are up more than twice that, while housing costs have doubled since COVID-19, between rising house prices and rising mortgage rates.

If those real-world numbers are closer to true inflation, then workers have lost potentially thousands per month. […]

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New Economic Numbers Deal Crushing Blow To Biden-Harris https://genesiswealthdefense.com/new-economic-numbers-deal-crushing-blow-to-biden-harris/ https://genesiswealthdefense.com/new-economic-numbers-deal-crushing-blow-to-biden-harris/#respond Mon, 14 Oct 2024 00:47:41 +0000 https://genesiswealthdefense.com/new-economic-numbers-deal-crushing-blow-to-biden-harris/ Democrat presidential nominee, Vice President Kamala Harris has admitted the truth and the numbers show she was correct.

After she became the Democrat nominee the vice president gave a speech in which she decried the high prices of goods. It was a speech that former President Donald Trump agreed with as he laid the blame squarely at the feet of the current administration, of which she is a key member.

And the numbers are even more dire than the vice president admitted, The Daily Caller reported.

“Prices since November 2020 have increased by roughly 21%, with year-over-year inflation under Biden peaking at about 9% in June 2022 and decelerating to its current annual rate of 2.4% as of September, according to data from the Bureau of Labor Statistics analyzed by the Daily Caller News Foundation. Price hikes for a slew of products have well-exceeded the overall price rise, including household staples like eggs and butter, which rose by approximately 163% and 50% between November 2020 and September 2024, respectively,” the report said.

“Beef products have also been hit hard by Biden-era inflation, with prices for uncooked beef roasts rising over 31%, uncooked ground beef climbing nearly 27% and uncooked beef steaks increasing approximately 28%, according to BLS. Meanwhile, the price of bread is up over 23% and bakery products up almost 27%,” it said. […]

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Trump Announces Major New Working-Class Tax Cut During Arizona Rally https://genesiswealthdefense.com/trump-announces-major-new-working-class-tax-cut-during-arizona-rally/ https://genesiswealthdefense.com/trump-announces-major-new-working-class-tax-cut-during-arizona-rally/#respond Mon, 16 Sep 2024 06:10:59 +0000 https://genesiswealthdefense.com/trump-announces-major-new-working-class-tax-cut-during-arizona-rally/ Former President Donald Trump has announced a plan that could win him a higher percentage of middle-class workers’ votes.

Speaking at a rally in Arizona on Thursday, he said that if he became president again, he would spearhead an effort to end taxes on overtime pay, The Daily Wire reported.

“As part of our additional tax cuts, we will end all taxes on overtime,” he said as he stood in front of a sign that read “No Tax On Tips.”

“It’s time for the working man and woman to finally catch a break,” the former president said. “I think it’s going to be great for the country. So that’s why we will be saying that if you’re an overtime worker when you’re past 40 hours a week, think of that, your overtime hours will be tax-free.”

“The people who work overtime are among the hardest working citizens in our country and for too long no one in Washington has been looking out for them,” he said. “Those are the people, really work. They are police officers, nurses, factory workers, construction workers, truck drivers, and machine operators.” […]

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CNN Poll: After Debate, Even More Voters Trust Trump on Economy https://genesiswealthdefense.com/cnn-poll-after-debate-even-more-voters-trust-trump-on-economy/ https://genesiswealthdefense.com/cnn-poll-after-debate-even-more-voters-trust-trump-on-economy/#respond Thu, 12 Sep 2024 05:05:40 +0000 https://genesiswealthdefense.com/cnn-poll-after-debate-even-more-voters-trust-trump-on-economy/ A CNN poll taken immediately after the debate between former President Donald Trump and Vice President Kamala Harris found that the percentage of voters who trust Trump more than Harris on the economy jumped from +16 percent to +20 percent.

CNN’s Jake Tapper introduced the poll by saying to CNN political director David Chalian, “The first results of our instant poll of debate-watchers have just come in and David Chalian is going to join us now to break it all down. David, tell us more.”

“Yeah, Jake, and as you noted, this is a poll of debate watchers,” Chalian pointed out. “This is not a poll that represents the overall population, although in partisan breakdown it is pretty close to what the overall registered population looks like in the country.”

Later in the event, Chalian presented the results of a poll asking viewers which candidate, Trump or Harris, they trusted more on the economy. While Trump had a 16-point advantage over Harris before the debate (53%–37%), his lead had increased to 20% (55%–35%) during the discussion. […]

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Homebuyers’ Required Downpayments Hit ‘Record High’ Under Biden-Harris https://genesiswealthdefense.com/homebuyers-required-downpayments-hit-record-high-under-biden-harris/ https://genesiswealthdefense.com/homebuyers-required-downpayments-hit-record-high-under-biden-harris/#respond Mon, 02 Sep 2024 03:05:28 +0000 https://genesiswealthdefense.com/target/homebuyers-required-downpayments-hit-record-high-under-biden-harris/ The amount of money homebuyers are being asked to put down on their purchases of new homes has reached a “record high” under the Biden-Harris administration, thanks largely to dramatically higher interest rates resulting from inflationary monetary and economic policies.

“The typical down payment for U.S. homebuyers hit a record high of $67,500 in June, up 14.8 percent from $58,788 a year earlier,” according to an Aug. 28 news release from real estate brokerage Redfin.

Year-over-year down payment costs have been continuously increasing over the past months, with June marking the 12th consecutive month of rise, the report said, as noted by The Epoch Times.

Higher down payments are contributing to the ongoing affordability crisis in the housing market during the Biden-Harris administration. According to data from the National Association of Realtors (NAR), in June, the monthly payments required to afford a median-priced existing single-family home were $2,303. That is nearly double the $1,206 monthly payment needed in 2021.

Monthly payments now consume more than a quarter of an individual’s income. To qualify for a median-priced home, a person needs an income of $110,544, up from the $57,888 needed when then-President Donald Trump left office.

A significant factor driving up the cost of home loans is the rise in mortgage rates, which have surged from 3.01 percent to seven percent. Recently, however, rates have decreased from their peak in late October. As of the week ending August 29, the average rate for a 30-year fixed mortgage was 6.35 percent. It should be noted that the Federal Reserve began hiking rates as a means of taming what had become runaway inflation under Biden-Harris and two years of full Democrat control of Congress.

Redfin, meanwhile, noted that the increase in down payments is being driven by current market conditions, where “higher-priced, turnkey homes” in desirable neighborhoods are more likely to be sold. Turnkey homes are fully renovated properties that investors can purchase and rent out immediately. […]

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