Posted on 06/27/2024 1:00:30 PM PDT by TonyinLA
Americans across all age groups have dramatically cut back on spending between April and June, a recent study from TransUnion found, as many remain concerned about the higher cost of living despite declining inflation. ... 39 percent of all respondents said they had cut back on discretionary spending in the past three months. ... Among respondents who said they were concerned about inflation, the share went up to 58 percent.
Sixty-six percent of respondents said they were concerned about the rising price of gasoline; 40 percent were worried about takeout and meal delivery becoming more expensive; and 84 percent feared a rise in the cost of groceries.
(Excerpt) Read more at newsweek.com ...
No, not *suddenly*.
The left is just suddenly admitting it.
I’ve been cutting back for more than a year now…I suspect I’m in the norm on this.
8.00
4.25
3.50
3.00
After a while it adds up.
18.75
And don’t forget, the latter increases, are based on the
already inflated numbers. 3.00% on $115.00 is different
than 3.00% on $100. It really adds up, and it doesn’t
go away. Each new level is a new base to jump off from
higher.
$100.00 + 8.00% = $108.00
$108.00 + 4.25% = $112.59
$112.59 + 3.50% = $115.90
$115.90 + 3.00% = $119.38
It’s declining from the highs. Statistics depends on the baseline.
I find it difficult to believe that such Math is now racis’ in Publik Skools.
In our sad state of affairs, it’s pretty easy to believe.
Try to watch one of these kids explain how 2+2 may not be 4.
They are so confused.
Every time I see someone laud teachers these days, I simply
cannot agree. They are a party to this.
“Unexpected....”
I’m noticing that too
Folks are taking their calculators to the grocery store and being very disciplined about grocery decisions
— so they don’t get shocked during check out.
Capital Gains need to be adjusted to personally experienced inflation before Income Taxation.
😂put me in that category!🤣
Newsweek is a joke.
Newsweak..
Well cocaine and hookers are still reasonable
We have a similar story. Sold our second car right away, I’ve always clipped coupons, cooked from scratch, and had a garden. It’s still tough and getting tougher.
My prediction is by the end of the year, the left will be calling on the UN to take over America.
Homeowner’s insurance? What is that? Can’t afford it.
Driving a 24 year old car.
Just put my wife of 54 years of beautiful marriage in a Memory Care Center.
Her inheritance, which is paying for it might last 2 years.
I never thought I’d say this, but I hope she dies before the money runs out.
“Suddenly” cut back spending. That’s how Ernest Hemingway described going broke: “gradually, then all of a sudden.”
I did BK law for about 10 years. Going bk “suddenly” was the common reaction with most clients, but looking at their books, it was easy to seek coming. Clients were in denial / consuming hopium to convince themselves otherwise.
The signs of a crumbling economy are everywhere. Matter of time. Just see the signs and don’t drink from Da Nile.
after 3 1/2 years of inflation, they are out of money
Americans have been cutting back on spending for three years now. For middle and lower earning consumers we had no choice. Just because government economic agencies and some in the media are suddenly reporting it doesn’t mean it is new information.
I, for one, am tired of being lied to by both of them.
You do not have national store chains such as Walgreen’s, McDonalds, CVS, Cracker Barrel, Hooters, etc closing locations because the economy is doing well.
If by “suddenly” they mean 2020, then yeah I cut back.
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