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The Economy is Struggling, And Democratic
Constituents Are Suffering Most

Original Article

Posted By: Garnet, 10/12/2022 3:44:56 PM

The U.S. economy continues to show signs that it is in a recession and that recovery is going to take a long, long time. The housing market is serving as the canary in the coal mine. Per CNBC, "total mortgage application volume fell 14.2%" in the last week of September, compared with the previous week. Refinancing volume dropped 18 percent for the week and "was 86% lower than the same week one year ago." Mortgage applications to purchase a home fell 13 percent and are down 37 percent from last year.

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Reply 1 - Posted by: Rich323 10/12/2022 3:56:35 PM (No. 1302747)
Wow a Newsweak story. The ones who work notice much more than those on the dole. The EBT crowd is probably upset their beer money doesn’t stretch as far as it used to.
7 people like this.

Reply 2 - Posted by: Rand Al'Thor 10/12/2022 3:57:05 PM (No. 1302748)
Good. As you vote so shall ye reap.
8 people like this.

Reply 3 - Posted by: MickTurn 10/12/2022 3:59:07 PM (No. 1302751)
Bend over lefties here it comes!
4 people like this.

Reply 4 - Posted by: thethirdruffian 10/12/2022 4:20:41 PM (No. 1302767)
The elites don’t care. A recession is when you can get bargains if you are liquid.
4 people like this.

Reply 5 - Posted by: 3XALADY 10/12/2022 5:00:10 PM (No. 1302806)
Mail box money never gets to be less.
0 people like this.

Reply 6 - Posted by: bighambone 10/12/2022 5:31:01 PM (No. 1302827)
Well the upcoming election will tell if the so-called key Democrat constituency bases have woke up to the financial damage that Biden, along with leftist, progressive, and socialist Democrat political agendas and policies are doing to their lifestyles and traditional standard of living. When it comes to the Black “communities” across the nation they should be 100% against the mass uncontrolled illegal immigration that Biden and the Democrats are allowing and supporting. As those incoming illegal aliens will be taking millions of blue collar American jobs at wages so low that American workers, including Black workers, cannot accept such low pay and maintain their customary US standard of living. As many recognize, and history shows that Black American workers will be among the first to be pushed aside as greedy employers instead hire illegal aliens who have little choice to work hard for whatever low wage they are offered.
2 people like this.

Reply 7 - Posted by: bpl40 10/12/2022 5:49:44 PM (No. 1302845)
".......continues to show signs that it is in a recession?" Excuse me!! No wonder this rag sold for a half the amount for a two bit wh***.
1 person likes this.

Reply 8 - Posted by: Lawsy0 10/12/2022 8:04:02 PM (No. 1302911)
Pot, meet kettle.
1 person likes this.

Reply 9 - Posted by: pensom2 10/13/2022 7:10:08 AM (No. 1303154)
Several posters above failed to read the opinion article and simply voiced their knee-jerk attitude because the article appeared in Newsweek. I understand this, because I generally react negatively to Newsweek. But this particular opinion piece was not written by a Newsweek "journalist" or "editorial writer." At the end of the article, the following appears: "Jim Nelles is a supply chain consultant based in Chicago, IL. He has served as a Chief Procurement Officer, Chief Supply Chain Officer, and a Chief Operations Officer for multiple companies. Jim served his country as a Naval Officer after attending college on an NROTC scholarship. He has a BA from Northwestern University in Economics and French as well as a Masters in Management from the JL Kellogg Graduate School of Business. The views expressed in this article are the writer's own." We do ourselves no favors when we voice uninformed opinions as distinguished by informed opinions.
0 people like this.

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Posted by Garnet 10/12/2022 3:44:56 PM Post Reply
The U.S. economy continues to show signs that it is in a recession and that recovery is going to take a long, long time. The housing market is serving as the canary in the coal mine. Per CNBC, "total mortgage application volume fell 14.2%" in the last week of September, compared with the previous week. Refinancing volume dropped 18 percent for the week and "was 86% lower than the same week one year ago." Mortgage applications to purchase a home fell 13 percent and are down 37 percent from last year.
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