Households earning $100,000 or more are cutting spending more aggressively. What’s going on?

Market Watch ^ | 1/19/22

[flamberge]

This is the point where people turn their cash into hard assets.

"We are advising our clients to put everything they've got into canned food and shotguns". (Gremlins, 1984)

[RoseofTexas]

Yep, our property taxes have gone up. Our gas bill has gone up. Electricity has gone up. Our car insurance has gone up …feeding and housing has gone up. The invaders have added an additional burden on our income that was meant for Americans well being. I have not bought fresh eggs in so long that even the price of eggs is driving our spending habits to the limit. We don’t buy luxuries anymore and this Christmas was very very limited on what we spend on our grandkids and our children. My husband and I decided to bypass anything special for each other this Christmas. And for my birthday which just came and went I too requested nothing specially from the kids, who are struggling to meet their expenses.

I hate liberals, and I hate the vegetable! I hate the globalists! And I despise that satanic group who gathered at Davos! Those Republicans who participated in that demonic meeting need to pay a price. All they did was put a heavier boot on the necks of the American people that are already struggling. They want to kill you. They want you to stop breathing, they want you to stop eating they want you to stop having babies so that the world will belong only to them. So that they can have their filet mignon, lobsters and champagne along with travel around the world as they please. This group is so freaking evil.

[1Old Pro]

I’m old enough to remember the good old days when we threw toilet paper and eggs at houses, now we store them under lock and key. No, we’re not better off than we were 4 years ago.

[Jim Noble]

Usury is going out of fashion.

[EBH]

Car repossessions are on the rise NOW...

Which should indicate housing will follow in about 6 months.

We are going to have a lovely summer.

[EBH]

Well, from where I see things...they already have all that.

So I do not get their point.

[Sequoyah101]

They can’t figure this out? That higher income households cut spending more than low income households?

It ain’t called DISCRETIONARY SPENDING for nothing.

Duh.

[metmom]

Sounds like a plan.