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Economy

Throck

(2,520 posts)

23. When you pay debt you're only funding the billionaires banks.

Reply to Cicada (Reply #19)

Mon Jan 10, 2022, 01:20 PM

Jan 2022

"That's because wages are going up, which not only empowers workers but also gives them more money to pay down debt."

My daughter's credit card debt is actually increasing as she pays more money for her weekly groceries. Her utilities are up and the bastard landlord raised the rent to cover his increases in taxes and maintenance.

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Is inflation really bad for most people? [View all] Cicada Jan 2022 OP

Yes, it is terrible, I lived thru the 70's, and early 80s progree Jan 2022 #1

Inflation adjusted Median household income is up in 2021 Cicada Jan 2022 #4

OK you got me on the median household income up in 2021 vs. 2020 - thanks to many more progree Jan 2022 #7

Inflation is complicated in practice. unblock Jan 2022 #2

During the year 2021, no lag, median household income rose more than 9%, inflation plus 3 Cicada Jan 2022 #6

... progree Jan 2022 #9

Progee 64% of Americans have a mortgage Cicada Jan 2022 #15

Simulation: The mortgage holders and other fixed rate debt holders benefit in the short run, progree Jan 2022 #26

in the long-run, it's mostly a transfer of wealth from savers to borrowers unblock Jan 2022 #13

Median households in 2021 had 9% income gain, bigger than 6% inflation Cicada Jan 2022 #16

Where are you seeing that income stat? unblock Jan 2022 #17

Here is my source for income outpacing inflation Cicada Jan 2022 #18

There's a lot of good news in the economy especially for the working poor unblock Jan 2022 #22

A lot of us here are on fixed incomes left-of-center2012 Jan 2022 #3

Those getting social security and govt retirement get pay hikes equal to inflation Cicada Jan 2022 #5

Sustained inflation over a long period of time certainly helps Tomconroy Jan 2022 #8

If you believe that the official inflation adjustment applies exactly to your own expenses, it does MichMan Jan 2022 #11

social security adjustments both lag and underadjust for consumer inflation unblock Jan 2022 #14

I agree social security should use a better cola adjustment Cicada Jan 2022 #20

Median household income up 9%? Throck Jan 2022 #10

9% is household income, more spouses got jobs, less part time work Cicada Jan 2022 #21

Inflation affects retired people on a fixed income more than most. Sure we get a COLA raise doc03 Jan 2022 #12

Several hours after my post here CNN stole my story Cicada Jan 2022 #19

When you pay debt you're only funding the billionaires banks. Throck Jan 2022 #23

We need to reduce housing costs Cicada Jan 2022 #24

High inflation increases housing costs MichMan Jan 2022 #25