By
G. McConway
|
October 18, 2022

American Retirement Accounts Getting Clobbered During Bidenflation

Joe Biden is killing Americans that are retired or are getting ready to retire.

Retirement accounts of all types are getting crushed right now.

Not just hit but CRUSHED.

Meanwhile, Joe Biden says the economy is strong as hell and the market is not indicative of our economy.

Drinking the Kool-Aid

Remember that transitory inflation that Biden talked about last December?

Well, it is still hanging around.

Let me throw these stats at you.

The average salary has lost roughly $6,000 in purchasing power since Joe Biden took office.

The average monthly savings has fallen by 83 percent.

The average 401k is down by more than 25 percent, averaging about $34,000.

Combined, Americans have lost more than $2 trillion.

Traditional retirement accounts have dropped about 15 percent, or about $4 trillion altogether.

So, that is $6 trillion that has been removed from the retirement accounts of Americans.

Inflation is NOT, as some Biden officials have stated, a “high-class problem.”

Yes, it is still a hit for rich people, but they are in a far better position to take the hit than the average middle-class American that is trying to retire.

The average person is now going back to work or putting off retirement because of Joe Biden... that is the reality of Bidenflation.

Source: New York Post

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