For any Democrat acquaintances
Posted on 12/01/2023 2:51:56 AM PST by davikkm
In a drastic turn, US boat sales, once thriving during the pandemic, are expected to plummet to a decade low, driven by the impact of soaring interest rates. The average per-person collection amount has surged from about $1,200 last year to over $1,600 in Q3 this year, signaling intensified financial strain. As 92% of Americans adapt their spending habits and gross domestic product and income diverge to levels not seen since 2007, urgent challenges emerge in the economic landscape.
Compounding the pressure, credit card debt has soared past the $1 trillion mark, reaching unprecedented levels. The Federal Reserve’s assertive interest rate hikes have pushed credit card interest rates to a staggering 21.19%, further squeezing consumers. This economic strain is accentuated by the fact that only 39% of Americans can cover a $1,000 emergency expense.
(Excerpt) Read more at citizenwatchreport.com ...
I read about “record spending” for Black Friday/Cyber Monday season, and the stock markets have gone spiraling upward this past month. Seems counter to the article.
Should say, “ Both the rich and poor are spending more for everything thanks to Bidenomics”.
Did you read the part of the article that says, “credit card debt has soared past the $1 trillion mark, reaching unprecedented levels”??? That’s why Black Friday was so “successful “.
Americans are cutting back on LUXURY items. Boats are considered luxury items. This would also include things like RVs. The cost of essentials like groceries, hygiene items, and gasoline are necessary evils and those are what are leading market spending, not luxuries or gifts.
With inflation, spending is way up. People are buying less bread but are paying more for it.
Both this article and Biden’s hollow boasting can be true.
EC
Bkmk
I really thought we would be ok financially. We are even cutting back significantly. I think our kids will look back and wonder how we let this happen. Our kids meaning the ones that don’t have you know, the gender issues or safe spaces etc.
True if you can afford a belt. I’m considering using à
length of rope. New belts are a minimum of $40.00 for
a leather belt made in Taiwan.
I don’t know, they’re hitting McDonalds as hard as always. It would seem to me that crap like that would always be the first to go. I myself have quit buying my morning coffee and a bagel. Six or seven bucks a pop now. I can afford it but it’s just too much for a guy who remembers when it was fifty cents.
I keep hearing about higher gas prices, but in the past month or so here in Central Texas, gas prices have gone down. Way down. Below $2.50/gal for regular gas.
It’s going down here in the Midwest for me but somebody told me they were still paying $6 roughly in California
There’s a lot of people that can afford to buy whatever, but the combined effect of ridiculous prices and low value of the dollar are offensive. Would rather leave stuff on the shelf than pay that much.
Gas Buddy just said $3.99 for some areas around San FranFreako
I paid $2.71 in the Midwest 2 days ago
Gas always goes down in the fall. Partly because they can add more butane, which is cheaper, to the gas formula. Something like 5% in spring summer blend & 15% in fall winter blend.
“I read about “record spending” for Black Friday/Cyber Monday season“
Me too. Except I remember the same scenario reported during the Obama years. People shop very early, at discount, then the shopping goes very flat. People are looking to stretch their Christmas money, not spend more. I find it an ominous sign, not good.
But, what about the flight to Rosalyn’s funeral where Biden shared his flight with the Clintons and Michelle O.
I’m with you. Even if we easily can afford something, if the high price is too offensive we just won’t do it. Disgusting.
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