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Posted on 11/16/2021 9:31:21 AM PST by SaxxonWoods
People expect to spend more on holiday travel, celebrations and 'big ticket experiences,' such as concerts or sporting events, a MassMutual survey found.
It's the most wonderfully expensive time of the year, and people are expecting to spend big.
A new survey from MassMutual shows that consumers are feeling optimistic about their finances -- and are planning to spend $1,243 on average on holiday-related purchases this season. For comparison, the national median rent was $1,312 in October, according to a report from Apartment List.
The MassMutual Consumer Spending & Saving Index surveyed 1,000 U.S. adults online between Oct. 18 and Oct. 22, 2021.
The survey found that despite record-high inflation, 73% of Americans said they're feeling optimistic about their finances. Thirty-five percent said they're feeling "very optimistic" about their finances, up from 27% in July and 21% in February.
(Excerpt) Read more at morningstar.com ...
I don’t doubt for a second that there are indeed people optimistic about their personal finances, and likely for good reasons for their own situation.
I simply don’t see how an economy can be gutted with small businesses by the score bankrupted and trillions of government dollars printed up and pumped into an economy is a good thing and is going to be a positive in any way.
And I admit that I personally could be wrong in this, but this doesn’t seem like a sound economy built on hard work and high productivity contributing to the wealth of a nation...it seems like a body being forced to burn muscle tissue to keep going on at any rate.
FR is indeed heavy on doom and gloom of all kinds, but if that is so in this case, I would regard it as justified.
And yet the most recent consumer sentiment survey shows this:
"The University of Michigan's consumer sentiment for the US fell to 66.8 in November of 2021 from 71.7 in October and below market expectations of 72.4, preliminary estimates showed. It was the lowest reading since November 2011 due to an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation."
https://tradingeconomics.com/united-states/consumer-confidence
That dynamic is certainly true in my case over the last two years, I haven't been vacationing the same, or even buying things at the same rate, so I have been saving and I am sure there are many like me.
Most people are ignorant. Lestor Holt doesn’t talk about inflation, shortages, or open borders. The snowball is rolling but it hasn’t rolled over most people yet.... yet
Sounds like you follow the ‘normal’ media a lot, FRiend.
I’m Joe Biden and I approve this message.
They’re spending “big” because prices have gone up.
What a lie this is.
“Most people are ignorant.”
Actually, most people are doing well, believe it or not.
“Most people are optimistic, doing OK and spending.”
Really? What about this?
https://tradingeconomics.com/united-states/consumer-confidence. (lowest in 11 years)
You did say “most people”......right?
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No they’re not.
It occurred to me that you can make a lot of money lying for a living.-
Not that I would, but journalism seems to be the liars marketplace of choice.
“There is no money in the truth” -WRMF 11/16/2021
In an inflationary environment it is “use it or lose it” time.
Future dollars will be worth a lot less, so you better spend them now.
Stuff costs far more.
How is that splurging?!
If prices increase another 38%, we'll really be doing great!
The joke here is that the cost of fuel and food and everything else is rising to the stratosphere and the government and media will point and say "Look, Americans are spending more this year than last year, isn't that wonderful?"
There are dopes that don't get the concept of inflation.
Not at all. Zero. Haven’t watched the news for going on 30 years, and haven’t read a newspaper in that time. And I don’t watch television.
I don’t regard them as truthful, their content a product of what they think they need to sell to make a profit, with that taking a back seat to activism, so I don’t find the media to be either trustworthy or useful except to obtain information about what various entities in media outlets wish people to think on a given subject.
I have tried to educate myself as much and admittedly imperfectly as I can, and rely heavily on people whose opinions I trust on various matters given their viewpoints and how well those views mesh with historic outcomes.
That has pitfalls of its own and takes time and effort, but that approach is, to me, far preferable to swallowing the words and opinions of people who have demonstrably shown they mean ill towards people with principles similar to mine and opposed to theirs.
You bet, in fact we're waiting for 6 dollar a gallon gas and 38% overall price increases to really splurge! The higher the prices, the more we plan on spending!
Wow Mass Mutual. My dad bought 2500 dollar whole life policies from them in 1963 for all his kids. I still pay 32 bucks a year for the premium. The cash surrender value is over 3000 dollars. I was planning to let it become an annuity before all the inflation started. I think the inflation we will see will make the 70’s look like Weimar Germany. How’s that for doom and gloom pessimism?
Mass Mutual poll ?
In conjunction with The Washington Compost/ABC “ News “ poll, no doubt.
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