We are approaching the internet bubble territory.
Posted on 03/29/2022 7:25:25 PM PDT by SeekAndFind
Uh-huh.
OMG this guy is really enjoying the kool-aid!!!
This poster is becoming a real Biden cheerleader. The only reason people will spend is because of inflation.
“After two years of isolation, older Americans are about to open their wallets…”
Here’s an older American who’s going on a dollar spending frenzy this year. I’ll be spending all those additional dollars trying to keep gas in the truck and food on the table.
He’s right. I opened my own wallet today...and handed the entire contents to the gas station cashier.
One way to see this is the Spending Momentum Index (“SMI”), a measure of consumer spending from Visa. The SMI measures the share of Visa cards that has increased or decreased spending compared to the same period a year earlier.
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Another way to see it is people have run out of cash in their bank accounts and are racking up credit card debt.
We are approaching the internet bubble territory.
If the other 65+ are anything like me they are trying to turn their Fed Funny Money into preps and precious metals before they are only good for toilet paper. I give it to October.
I plan on making 10% more this year. And spending 12% more. That’s good, right?
We’ve bought solar lights. Chainsaws. Usb fans to run off external battery packs. Food. Shoes. Etc
Yield curve inversion today. The recession is in the mail.
Thank goodness, I got that 5.9% increase on my social security check. After my 18% increase in Medicare premium, I’m ready for any cost of living increase. Any increase that’s not above 2%, that is.
Hahaha my social security raise was 6.9% and I am trying to cope with 10-12% inflation. May be Biden will give me 12% raise next year?
Easter Bunny will be delivering pallets of cash to everyone this year, instead of eggs.
And Santa Claus will bring more.
I want some of the author’s feel good hopey stuff.
I guess he missed the inflation stock markey loss / correction / war scare thing.
Buy a wheel barrow soon. You will need it to go to grocery stores to carry enough cash.
I was going to give up steak anyway.
I do not think so. I am one of those old folks and we had to use our credit card last year for the first time Ever to pay our real estate taxes as they went so much!
This year I am afraid to see what our school will do with the high cost of gas . They may raise the taxes again!
We do not have deep pockets actually they are being drained by gas prices, taxes and the high cost of living.
And why would we want to go and buy more Real Estate when we can barley pay our taxes.
And taking Vacations are out. We still will not go out with Covid.
This is some article that is focused on a small audience The Very Rich Audience.
A lot of smoke and mirrors out in the Press these days. Very sad what our Country has become.
They should have given 21% like Government gave themselves.
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