Posted on 01/30/2023 5:08:15 PM PST by RomanSoldier19
The engine of the U.S. economy—consumer spending—is starting to sputter.
Retail purchases have fallen in three of the past four months. Spending on services, including rent, haircuts and the bulk of bills, was flat in December, after adjusting for inflation, the worst monthly reading in nearly a year. Sales of existing homes in the U.S. fell last year to their lowest level since 2014 as mortgage rates rose. The auto industry posted its worst sales year in more than a decade.
(Excerpt) Read more at wsj.com ...
WSJ links are paywalled.
https://www.youtube.com/watch?v=aXgSHL7efKg
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Young and old are doing it, I’m told
Just one try and you too will be sold
It’s called ‘Le Freak’, they’re doing it night and day
Allow us, we’ll show you the way
Ah, freak out!
Le freak, c’est chic
Well...THAT brings back memories!!!
The eggs index.
Burn it down
Burn it to the ground
Burn the ground
Free links are available: https://www.wsj.com/articles/consumer-spending-inflation-economy-11675093472?st=dorki8dk3t4hjb7&reflink=desktopwebshare_permalink
I’m not buying anything not required. I want all credit cards paid off, just paid off a building loan by doubling payments, making sure payments are zero as soon as possible.
Damn that takes me back
Why is the Consumer freaking out?
IMO, much of WSJ would be overpriced if free.
Well, as per the election last year, we need more democrats elected to solve the problems they have created.
We're almost there, except we need to replace our nearly 6 year-old smartphones. First off, AT&T in our area sucks. Text messages are sporadic about getting through, either sent or receiving. The phones are stuck at Android 6, incapable of going any higher, so they're limited on security. Other than that, no other purchases are needed.
Slowing consumer spending is the idea behind raising rates. Some said it wouldn’t work. It is working. It isn’t easy, a lot of Americans spend much more than they make, just like the govt.
.
40 percent of Americans only have 400 dollars in the bank.
Wonder why populism is so powerful now?
“Why is the Consumer freaking out?”
The Consumer is acting in a rational way by slowing spending in the face of higher interest rates, higher prices on goods and services, and potential job insecurity.
In journalistic circles, this is known as “freaking out”.
'cause they want to buy stuff but they ain't got enough money now.
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