The weekend started with horrible news . . . Family pizza night is getting cut by many Americans as the economy worsens.
Here's a glimpse at the sitch . . .
Some blamed the administration of President Joe Biden for runaway inflation. Others pointed to the ebbing coronavirus pandemic, supply chain snarl-ups and fighting in Ukraine scrambling the global economy.
With another interest rate hike looming, more than three quarters of Americans are expecting the economic crunch to last until the end of the year, according to a survey by financial services firm Primerica.
Nearly three quarters are cutting back on restaurants and takeout, about half are scaling back on groceries and 42 per cent are pushing back retirement plans, says the study of 1,384 adults with household incomes between $30-$100K.
And so we ask . . .
PLEASE SHARE YOUR IDEAS FOR SAVING MONEY AMID THE CURRENT BIDEN RECESSION!!!
We'll start with helpful suggestions . . .
Gas station coffee at QT tastes better than Starbucks . . . This is just a fact that has saved TKC THOUSANDS of dollars given that fancy coffee was a luxury that I granted myself but didn't really need.
Don't cut family pizza night . . . Some of the frozen pizzas are every bit as good as delivery or takeout for less than a quarter of the price.
Haggle with your workplace & city hall about E-tax refunds!!! 12th & Oak is giving away MILLIONS to developers, activists & worthless consultants . . . Fighting for 1% of your income is worth a few calls and e-mails.
Again, we'd like to hear more ideas . . . Check some related stuff that we've noticed . . .
Read more via www.TonysKansasCity.com links . . .
Families across the U.S. are cutting back on essentials as well as luxuries as they battle the highest inflation rates since the 1980s All-American activities like traveling for softball matches and family outings to pizza parlors are being nixed Gas-guzzlers are sitting idle in driveways across the country because householders cannot afford to fill their tanks More than three-quarters of Americans believe they will be tightening their belts until at least the end of the year Can you share a story about how inflation is hurting your family?
75 or 100 basis points? Lost in market debate over Fed's next rate hike is 'how long inflation stays at these levels'
Debate has been simmering over whether Federal Reserve policy makers will raise the fed-funds rate by three-quarters of a percentage point later this month, as they did in June, or step up their inflation-fighting campaign with a full point hike -- something that hasn't been seen in the past 40 years.
The White House has been trying to argue that "transitory" surges in demand, and constraints on supply, have been causing prices to skyrocket. In time, prices were supposed to plummet, but unfortunately for the administration, they have so far shown only modest signs of doing so.
This isn't a rerun of the 1970s, argues Jeremy Siegel, the author of the seminal Stocks for the Long Run and a professor emeritus of finance at the University of Pennsylvania's Wharton School. The reason, he says, is that the Federal Reserve "stopped the growth of the money supply this year very dramatically."
Headlining with the CPI all-items 9.1%, reporters connected the worse-than-expected, 40-year high inflation rate to consumer misery, higher interest rates and recession. Alarming commentary to follow. Woe to us. But, wait. Let's find out some more information from a mock interview with one of those reporters...
Developing . . .