Posted on 12/02/2023 10:11:49 AM PST by yesthatjallen
You would think, with prices as high as they are, that Americans would have tempered their enthusiasm for shopping of late; that they would have pulled back spending on luxury items; that they would have sought out budget and basic options, bought smaller packages, fewer things.
This is not what has happened. Consumer spending rose 0.2 percent, after accounting for higher prices, in October, the most recent month for which the government has data. Online shopping jumped 7.8 percent over the Thanksgiving long weekend, more than analysts had anticipated. The sales of new cars, dishwashers, cruise vacations, jewelry—all things people tend to give up when they are watching their budget—remain strong. Consultants keep anticipating a recession precipitated by the “death of the consumer.” Thus far, the consumer is staying alive.
People hate inflation, just not enough to spend less: This is one of the central tensions of today’s economy, in which things are going great yet everyone is miserable. And in some ways, Americans have nobody to blame but themselves.
SNIP
People want to blame Joe Biden for their bills. They want to accuse stores of gouging them (though the evidence for “greedflation” is scant). The strange truth is that most people really are in a more comfortable position, even if they’re not happy about it. It’s not like a weak economy, stagnant wages, crummy consumer spending, and cheaper stuff would be better, after all.
(Excerpt) Read more at -stage.theatlantic.com ...
Liberals adhering to their long tradition of blaming the victims.
I’m going to do my part by not buying any Xmas gifts this year.
grandmaster level gaslighting
Perhaps people are trying to spend their money while they can still get something for it.
Author is brain-dead. All the packages are getting smaller, with higher prices. Less bulk packaging containing fewer things, with higher prices.
Of course people see inflation raging and spend to try to stay ahead of it, buying now before it costs more next week and erodes your cash. Stupid author, it's Biden's fault.
I guess the wife of Vox doesn’t realize that inflation itself is a driver of increased consumer spending. In other words, if there is inflation, everything you buy is higher, so if you buy the same amount of products consumer spending rises. It really isn’t that complicated.
who wanted the minimum wage raised?
I don’t know how lightening does strike these people.
There is a giant mass of un-metabolized Nancybucks still getting jammed into the veins of the economy, along with billions per day being printed out of thin air.
The problem is at the source.
Post of the day.
I have already maxed out with gold, silver and junk silver coins.
US consumer credit card debt is $1.03 trillion now versus $803 billion in 2019.
Federal government out-of-control spending is a bad example for consumers.
And everyone knows that if this was a Republican administration they would be screeching about how “Trump’s economy” is killing women and minorities.
Actually, the Biden administration and their MSM parrots ARE to blame, with their drumbeat of, "This is the New Normal".
The ignorant among us figure, "Well, if this is the New Normal, I'm going to buy those goodies I've been wanting but held off."
Inflation creates the effect of spending more today; because the prices tomorrow could be higher.
Biden still have ~$2T up his sleeve from the infrastructure’ bill and the ‘inflation reduction act’. ( Pssst. by the end of this year, the annual deficit* will be $2T. )
* not the fiscal year.
There’s too much consooomin’ going on out there!
That’s exactly what inflation does — it pulls in future purchases to get today’s price.
Deflation does the opposite. People STOP spending with the anticipation of lower prices tomorrow.
Ok, yeah, so I’ve gained some weight over the few months. But my appetite improved once the pain levels went down in my S.I. and L3-4.
But I’m much more mobile now and I’ve laid off the every other day 🍔 burger.
I’m eating my veggies and catfish, and yesterday I even dropped a bobber in my local pond.
Weight scale shows I’ve lost 7.5 lbs.
Buuuut I love Cajun pinto beans and fart like a Missouri mule and cause a C02 bubble and fall off the whole good little pawn wagon.
I love y’all, stay Shaggy and make sure to slap a nice Porterhouse steak 🥩 on the grill to celebrate “Come ‘N Take My Steak!” in accordance with U.N. guidelines.
Bon Voyage
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