[E. Pluribus Unum]

Uh-huh.

[Trump Girl Kit Cat]

OMG this guy is really enjoying the kool-aid!!!

[hardspunned]

“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.

[montag813]

He’s right. I opened my own wallet today...and handed the entire contents to the gas station cashier.

[Flick Lives]

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.

—

Another way to see it is people have run out of cash in their bank accounts and are racking up credit card debt.

[entropy12]

We are approaching the internet bubble territory.

[anonsquared]

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.

[Poison Pill]

Yield curve inversion today. The recession is in the mail.

[LegendHasIt]

Easter Bunny will be delivering pallets of cash to everyone this year, instead of eggs.

And Santa Claus will bring more.

[Sequoyah101]

I want some of the author’s feel good hopey stuff.

I guess he missed the inflation stock markey loss / correction / war scare thing.

[Huskrrrr]

I was going to give up steak anyway.

[winterystorm]

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.

[Irenic]

People are buying prep.

[Deaf Smith]

I’ve only ever owned one pair of “slippers”. They were E German Winter boot liners during the sell off when the Berlin Wall fell (Sportsman’s Guide).

Then my ex put them in the Church parking lot sale,

[jdsteel]

This is valid economic analysis….16 months ago.

Everything is tempered now by the skyrocketing inflation. And those older folks that you say are ready to open their wallets? They are, but they vividly remember 1970’s-80’s inflation.

They will temper their spending.

[ProtectOurFreedom]

So we will be somewhere between massive global depression and/or mass starvation and record-setting growth in a booming economy.

Yes, I will invest accordingly.

[AlaskaErik]

Older Americans have been the most cautious since the start of the pandemic.

Really?! This "older American" hasn't changed his spending patterns at all since his part of Alaska went back to normal ops in May 2020.

[lurk]

So slippers are a major market indicator. Good to know.

Getting killed by gas prices, but we have slippers.

[DannyTN]

I couldn't SMI at Fred charts. I did find Consumer spending. SMI is credit card and debit card spending. So I suspect that if it shows an increase in trend and Consumer spending does not, then that is not good news. That's people maxing out their credit before stopping spending altogether. IMO

I couldn't find a chart of the SMI

[pepsi_junkie]

The SMI measures the share of Visa cards that has increased or decreased spending compared to the same period a year earlier.

So when prices go up, SMI goes up. So it's useless when we have high inflation. Sure, whatever.