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Posted on 05/31/2013 5:50:51 AM PDT by John W
WASHINGTON — Americans cut back on spending in April after their income failed to grow, a sign economic growth may be slowing.
The Commerce Department says consumer spending dropped a seasonally adjusted 0.2 percent in April, the most since last May. That follows a 0.1 percent increase in March and a 0.8 percent jump in February.
Adjusted for inflation, spending ticked up 0.1 percent last month. A drop in gas prices likely lowered overall spending.
But income was unchanged last month, after a 0.3 percent rise in March and 1.2 percent gain in February
(Excerpt) Read more at washingtonpost.com ...
Income hasn’t risen to gas/food prices in five years.
This is the strangest recovery in history. Jobs aren’t coming back, income isn’t rebounding, spending isn’t rising, but Obama is still in office, so we call this a recovery.
There’s no Republican in office. Prices have tripled. No jobs. The ones that are there are steaming crap. It’s a recovery all right.
More likely what is going on is earners know Obama is playing a rigged game to diminish the US and they have stopped spending out of concern over what he will try to do next.
The idiots on Wall St. come on the TV business shows and urge the “retail investor” to return to the stock market because it’s been rising on the tide of Bernanke’s funny money.
They have no clue that households headed by those 35 and under have lost 15% of their rate of income since ‘08 and have nothing left over to invest. Older people have received near zero returns on their savings, so they are barely able to pay for necessities. Where do they think the rocketing food stamp numbers come from?
True disaster will hit next year, when ObamaCare rapes struggling victims of his disastrous economy. Anyone who has money in the market by the third quarter of this year should sell, sell, sell or they deserve to lose big time.
Headline should read-consumers have no money left to spend after insurance premiums and dr bills
Five years... is there some correlation between that fact and a ignorant jug-eared moron's ascension to the "daddy chair"? You mean there's a downside to having woefully inept and inexperienced idiots destroying the private sector? One other thing... I'm hoping someone can answer: How in the hell can consumer confidence be at a high level yesterday, and the same enemedia be reporting consumer spending be down today? Isn't this counter intuitive?
At least part-time jobs are booming. The number of jobs working 30 hours a week or less is growing faster than ever before in history. Obama and Pelosi deserve the credit for that news.
Prices have tripled on what?
When the price of every service, commodity, angood goes up like it has in the past 5 years people’s spending power goes negative anyway. I will say that everything has gone up faster in the last 5 years than at any other time in history during my lifetime that I can remember.
This is what most people are doing.
People aren't out buying up crazy consumer stuff, they are hunkered down strategically spending. Outside of buying guns, ammo and basic supplies, people are buying what they must to replace the broken and worn out, but that's pretty much it.
No one really expects Obama's economy to "take off" anymore. In fact, people now wake up and if they read the economy has not collapsed then they consider this good economic news. This is what it has come to.
You ain’t seen nothin’ yet. Wait ‘til folks start adjusting their spending to compensate for ObamaCare bills coming due.
Yeah, it’s called lying by the sychofant media and gvt agencies.
Let a Republican president take office and it would be “the worst economy in fifty years” even if there was a boom going on.
Odd. The same persons who will cut back on their spending when money is down will re-elect Democrats who continue to spend at rising levels no matter what transpires.
The flat-lined “recovery.”
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