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March
13
2024

Is The Soaring Cost Of Living Stressing You Out? U.S. Households Are Spending An Extra $11,434 Per Year Just To Maintain The Same Standard Of Living
Michael Snyder

I used to really enjoy going to the grocery store.  I would relentlessly hunt for deals, and I would show off what I was able to find when I got home.  But now all of the bargains are gone.  Instead, there are ridiculous prices and there are even more ridiculous prices.  The prices for some of the things that I normally buy have doubled.  In other cases, the prices have almost doubled.  Of course the soaring cost of living is the direct result of decisions that our leaders have made.  They just kept borrowing, spending and flooding the system with money, and now the cost of living is wildly out of control.

According to CBS News, on average U.S. households must now spend an extra $11,434 per year just to maintain the same standard of living that they were enjoying when Joe Biden first entered the White House…

The typical American household must spend an additional $11,434 annually just to maintain the same standard of living they enjoyed in January of 2021, right before inflation soared to 40-year highs, according to a recent analysis of government data.

This is insane.

But the government continues to insist that inflation is low.  On Tuesday, the Bureau of Lying Statistics told us that prices have only risen 3.2 percent over the past 12 months…

Data released by the Bureau of Labor Statistics on Tuesday showed prices rose 3.2 percent over last year, slightly outpacing forecasts of 3.1 percent. Prices also rose 0.4 percent in February over the previous month — in line with expectations, but still hotter than economists would like to see.

If you believe that, there is a bridge in California that I would like to sell you.

Virtually everything that Americans spend money on regularly has skyrocketed during the Biden administration.

Just look at the price of gasoline.  It is now 60 percent higher than it was during the last presidential election in November 2020…

The average gasoline price at the pump in the US is now 60% higher than at the start of November 2020 — a potentially significant factor for American voters when comparing how well-off they feel now versus when President Joe Biden was first elected. And while pump prices are rising relatively slowly for this time of year, US fuel stockpiles well below seasonal norms will keep refining margins elevated, according to the the US Energy Information Administration.

As a result, the agency on Tuesday raised its second-quarter retail gasoline price forecast by 20 cents a gallon.

Of course housing costs have been going up even faster.

Recently, I was stunned to learn that a 54 square foot “apartment” in New York City that doesn’t even have a bathroom is renting for $1,200 a month

A tiny studio apartment in New York City that consists of just one room and has no bathroom, kitchen or running water has been furiously slated online – after it was revealed the asking price for the cell-like property is a staggering $1,200 a month.

A now-viral video of the ‘tiny’ rental, which is just 54 square feet and is located in Midtown West, has sparked outrage after it was shared on TikTok by listing agent Alexander Bruni.

The nine-by-six apartment has just enough space for a bed and doesn’t have any running water, meaning that if residents needed to use the restroom they would have to exit their studio and go down the hallway to the communal bathroom.

Is this what they mean when they tell us that we will own nothing and be happy?

Of course most Americans are not happy about the current state of affairs at all.

They are quite aware that the cost of living has been rising much faster than their paychecks have, and that is definitely not good news for Joe Biden.

As Kevin O’Leary has very astutely observed, inflation “is always the enemy of the incumbent”

He said: ‘Inflation is always the enemy of the incumbent. It doesn’t matter who you are in the White House when there’s inflation. People go to the voting booth remembering what it cost them for their cornflakes and milk in the morning, and what it cost to fill up the car to drive there.

‘And they vote against that.’

But if you think that inflation is bad now, just wait until the coming war with Chinaerupts.

Once trade across the Pacific comes to a standstill, there will be a whole lot of money chasing a rapidly dwindling level of goods in our stores.

The employment market will be another major issue in November.

The massive tsunami of layoffs that we have been witnessing just continues to roll along.  For example, on Monday we learned that John Deere will be laying off 150 workers at a facility in Iowa

Around 150 John Deere workers in Ankeny will be losing their jobs over the next couple of months.

John Deere Des Moines Works confirmed to Iowa’s News Now that employees were told about the layoffs by factory leadership in meetings at the factory on Friday.

The company said about 150 production employees will be placed on “indefinite layoff effective over the months of April and May.”

Sticking with Iowa, Tyson just announced that it will be giving the axe to over a thousand workers at one of their plants in the state…

More than 1,000 workers at another Tyson Food plant are out of work after the company announced it is permanently closing one of its Iowa facilities.

The move comes after the Arkansas-based company closed two chicken plants and announced job cuts last year and said four other plants were expected to cease operations within the first half of fiscal 2024, with related charges − at the time, expected to cost the company $300 million to $400 million.

On Monday Tyson announced it would shutter the doors to its Perry, Iowa pork-packing plant.

But at least they are doing better than Rite Aid is.

We just learned that another 77 Rite Aid stores will be permanently shutting down

Another 77 Rite Aid stores will close as part of the retailer’s voluntary bankruptcy.

The closures, announced in seven court filings so far this year, will affect stores across 21 states, including California, Pennsylvania, New York and Texas.

The total number of closures announced since filing for bankruptcy in October is now 431.

Overall, nearly 107 million Americans do not have a job right now.

That number will inevitably go even higher during the months ahead.

Needless to say, the cost of living is going to continue to steadily increase as well.

Prices are already absurdly high, but they are only going to escalate from here, and that is really bad news for all of us.

Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

 

   


My name is Michael Snyder and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com.  During this season, I would like to encourage you to send digital copies of my new book to your family and friends as gifts.  That will help to support the work that I am doing, and it will help to multiply the impact of the book.  In addition to my new book I have written five other books that are available on Amazon.com including  “Lost Prophecies Of The Future Of America”“The Beginning Of The End”“Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

 

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