Consumer spending and personal incomes both weak

AP ^ | 8/3/2010 | Martin Crutsinger

[Stevenc131]

The pace of consumer spending stalled in June and personal incomes failed to increase, further evidence that the economy slowed significantly in the spring.

The Commerce Department say personal spending was unchanged in June, the third straight month of lackluster consumer demand. Incomes were flat as well, the weakest showing in nine months.

[Stevenc131]

More green shoots.

[dirtboy]

More green shoots.

The Obama Administration - the political and economic equivalent of spraying Round-Up.

[Texas Eagle]

Okay. Remind me again.

Are we in an Ubama recovery or a Bush recession?

[ladyvet]

Not possible....this is the “ summer of recovery”.

[Texas Eagle]

The Commerce Department say personal spending was unchanged in June, the third straight month of lackluster consumer demand. Incomes were flat as well, the weakest showing in nine months.

Hmmmmm...sounds malaisacal.

[Red Boots]

It’s Recovery Bummer !

[kittymyrib]

Vote Republican/TEA Party to save your job. The economy will crash and burn the day after the November elections if the Dems retain control of the government. Business has no trust in BO and his band of Marxist university professors.

[KarlInOhio]

All of the Keynesian promotion of government spending to stimulate a country out of a recession relies on the ignorance of businesses and consumers. They are just supposed to dance in the fountains of free government money spraying everywhere without asking "at what cost?" The rational person sees government borrowing and spending and realizes that even tougher times will be ahead when the piper is either paid with increased taxes or the currency is devalued. In response, that rational person spends less, saves more and prepares for the worst. Thus rather than stimulative, government spending is quite likely depressive once the population has caught on to the scam.

[PogySailor]

Who would spend significantly in this climate? Everyday I worry we are going to have another round of layoffs. I have friends who have been un/under employed for the better part of two years.

[jwparkerjr]

We live in at least two different worlds. There’s the one where those who play the stocks live, a world where corporate fortunes are the key to everything, and then the world where you and I live. In our world we have to have a job that pays enough to support our family and provide for a few of the extras that make like bearable.

In that first world the stock market cares only that earnings are up. They don’t really care that the earnings are up because the companies now base their entire existence in efforts to make themselves look good to The Street. Earnings are up because they’ve cut to the bone, including a lot of people in our world that will no longer have a job or a way to support their family. Sure, two years or so of unemployment compensation will ease the burden to an extent, but that money is coming from the very companies that had to cut to the bone to keep their bottom line looking good. It’s a vicious cycle and it is simply not sustainable.

At some point, and it will happen quickly and without warning, the system will collapse. And the results will be worse than anything we have imagined.

It happened, sort of, in the Great Depression, but that time there weren’t millions and millions of people living on the public dole. People who live lives very near the edge and will resort to violence when the public can no longer dole out their sustenance.

Society as we know it is balanced quite precariously in these days and times. Any one of a dozen ‘unexpected’ occurrences could knock out lives off balance.

[longtermmemmory]

What is there to buy?

obamamobile?
Go to europe to watch moslem rioting?
Food Gluttony? (we are told we are to fat)
Couch potato nesting? (we are told we don’ get out and exercise)
Movies? (left wing puke)