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March 15, 2024
Death Of The U.S. Economy By the Numbers - The Latest Blow To Americans Prove That The Statistics Do Not Lie, But The MSM Certainly Does As They Continue To Gaslight The Nation
No matter what MSM outlet one chooses we see political pundits telling Americans the U.S. economy is doing great, thriving even.
They tell us breathlessly that inflation is down, which it is, from its peak, yet it is not only still above the target rate of 2%, but is beginning to rise again as of March's release of February's numbers. They claim that unemployment is down, yet those numbers are on the rise again as well.
The reason why the media is so desperate to convince Americans that they can't believe their own eyes, wallets or bank accounts is simple. They will do anything, including straight up lying, to protect Biden and get him reelected, rather than see four more years of Trump.
Then we get to their methods of dishonesty, such as using the peak of inflation, which was 9.1% in June 2022, to compare the 3.2% inflation seen in February 2024. This allows them to claim how much better "inflation" is, despite the fact that the 3.2% for last month, was on top of the 4.1% yearly average for 2023, one top of the 8% yearly average of 2022, on top of the 4.7% average for 2021.
So yes, inflation is down to 3.2% in February 2024, from the 9.1% in June 2022, but prices are still 20% higher than when Biden took office.
This is the reason that no matter how much the media tells Americans how good things are for them economically, the polls are not reflecting that for Biden, because Americans tend to survey and vote using their wallet.
Let me fix that headline for them: "Media's claims of a brighter economic mood is their own wishful thinking, hence Biden economic poll numbers sucking."
Is that blunt enough?
Next up is the latest set-back for America from "Bidenomics."
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THE BRUTAL TRUTH OF BIDENOMICS......
Now that is all out of the way, the latest blow to Americans barely surviving, living paycheck to paycheck and barely able to feed their families, comes with the announcement of Family Dollar, and Dollar Tree stores are closing 1,000 stores.
Blaming bad management and business decisions, the media explains the breakdown in the closures of Dollar Tree, which owns Family Dollar.
Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits.
Family Dollar will close 600 locations in the first half of 2024 and 370 stores over the next several years as store leases expire.
Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire.
What is interesting about the CNN's piece, cited above, is the very first paragraph which states "Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, said Wednesday it will close nearly 1,000 stores."
CNN is a little behind the times according to previous reports, even one by their very own outlet.
NBC News in December 2021: "Dollar stores have traditionally served low-income and rural shoppers who have few options to stock up on what they need — but the pandemic is changing that."
First and foremost, NBC highlights that "rural shoppers" traditionally use dollar stores, but the CNN report cited above claims dollar stores cater to customers "predominantly in cities."
Secondly, NBC claimed in 2021 that the pandemic changed the demographic (low-income) of those that shopped at dollar stores, yet in 2024, CNN still makes that claim.
CNN in June 2022: "Dollar General (DG), the largest US dollar store chain, is seeing its core customers — those with household incomes under $40,000 a year — “start to shop more intentionally,” CEO Todd Vasos said on an earnings call last month."
So in June 2022, CNN admitted that families with incomes up to $40,000 shopped at dollar stores, yet according to NerdWallet, and other sources, "low income" is defined as "$14,580 annually for one person and $30,000 for a family of four."
Yet in 2024, in discussing the closures of 1,000 dollar stores, CNN insists they cater to low-income customers. CNN cannot even keep their lies straight.
CNBC in February 2023: "Discount dollar stores are becoming a key destination for affordable essentials, including perishable and nonperishable goods, according to a recent report."
Slowly but surely, discount dollar stores’ share of total grocery spending has been creeping up, according to a recent report from Coresight Research. Already, more than 1 in 5 consumers buy groceries at dollar stores, according to Coresight’s weekly U.S. Consumer Tracker.
A separate study published in the American Journal of Public Health also found that dollar stores were the fastest-growing food retailers, in part because they are expanding at an unmatched pace, especially in rural areas.
The point here is the closures of 1,000 dollar stores, as shown above, is not just a blow to "low income" individuals or families, but rather a blow to everyone that finds themselves shopping at them because prices are still more than 20% higher than they were in 2020.
THE STATISTICS ARE WORSE THAN THE MSM IS TELLING US.........
This is perhaps the most telling as to the true state of the economy, which the media is trying to convince Americans is doing great under Biden.
The statistics below proving how badly the media is lying to you:
• Overall, 62% of consumers lived paycheck to paycheck as of January 2024, which is the latest numbers available at this time. (Source)
• 70% of Millennials, according to one survey, report living paycheck to paycheck. (Source)
• 40% of those living paycheck to paycheck maintain super-prime credit scores, 720 or higher. (Source)
• Only about 23% of Americans are considered debt-free, indicating that the majority of the population carries some form of financial obligation, whether it be from credit cards, loans, or mortgages. (Source)
• Nearly half of Americans earning more than $100K now report living paycheck to paycheck. (Source)
• Almost a third of Americans earning $150,000 a year or more say they're living paycheck to paycheck and many rely on credit cards to close the gap. (Source)
• More than one-third of those annually earning more than $200,000 saying they live paycheck to paycheck. (Source)
• Americans have more credit card debt than savings again in 2024. (Source)
• Nearly 40% of business leaders surveyed by ResumeBuilder think layoffs are likely at their companies this year, and about half say their companies will implement a hiring freeze. (Source)
The statistics, data and facts in no way, shape or form, line up with what the media has been selling Americans about the state of our economy.
Inflation is still more than a percentage point higher than the target, which is 2% meaning prices are continuing to rise, and will continue to rise even if they hit their target of 2%, while the majority of Americans are already living paycheck to paycheck.
No matter how many times the media insists on telling Americans things are doing great, they cannot counter the statistics or the truth, they can just try to hide it from us until the November presidential election.
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