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| Economy |
| The American Consumer Is 'Starting to Freak out,' Spending Drops 3 out of Last 4 Months |
| 2023-01-31 |
| [Red State] Although President Biden keeps insisting his economic programs are working great, there are plenty of troublesome signs indicating otherwise, including the all-important rate of consumer spending. Simple rule: if people are buying more things, it generally means they feel good about the state of their finances and the economy. When folks tighten their belts, however, it’s because they either simply don’t have enough money to purchase more than the essentials, or they’re holding on to their wallets because they fear for the future. Consumer spending is often known as the "engine of the economy"—and it’s out of gas. The Wall Street Journal reports that Americans are "starting to freak out": |
| Posted by:Besoeker |
| #17 I love talking to the people pitching cable TV to me. I say "All those people want me disenfranchised, put into a camp or executed. Why would I put money in their pockets?" Crickets |
| Posted by: M. Murcek 2023-01-31 11:06 |
| #16 I killed my cable/Internet bundle (kept only the Internet) last year. When the next price increase went from about $125 (already too much) to over $200, that was enough. I mean, come the F on! |
| Posted by: DooDahMan 2023-01-31 10:01 |
| #15 But it does explain why he cancelled the DirectTV account, replacing it with YouTube. Even the wife mentioned the other day how she'd rather watch Youtube than the constant stream of garbage from cable. That goes for me as well. |
| Posted by: badanov 2023-01-31 09:23 |
| #14 I agree, M. I’m keenly aware how lucky I am. |
| Posted by: trailing wife 2023-01-31 09:01 |
| #13 Good that you can still put food on the table. |
| Posted by: M. Murcek 2023-01-31 09:00 |
| #12 Mr. Wife does most of the grocery shopping nowadays, so I was shocked a few days ago to spend double what I expected. But it does explain why he cancelled the DirectTV account, replacing it with YouTube. |
| Posted by: trailing wife 2023-01-31 08:57 |
| #11 Someone should remind her that prostitution doesn't count. Snark 'O the day |
| Posted by: DarthVader 2023-01-31 08:46 |
| #10 Jessica Tarlov told me That talking around the progressive d*ck that's never out of her mouth is a feat. |
| Posted by: M. Murcek 2023-01-31 08:41 |
| #9 But Jessica Tarlov told me consumer spending was way up. Someone should remind her that prostitution doesn't count. |
| Posted by: badanov 2023-01-31 08:26 |
| #8 Well, ADULTS are making 18% to 21+% LESS due to inflation. Plus, new data shows their spoiled Adult Millennial brats aren't moving out until their very late 20's now. So yes, budgets are tight and spending is restricted for other than basic items taking a hit. |
| Posted by: NN2N1 2023-01-31 08:15 |
| #7 But Jessica Tarlov told me consumer spending was way up. |
| Posted by: Deacon Blues 2023-01-31 08:15 |
| #6 Gee, and they are surprised when the cost of things goes through the roof that this happens. |
| Posted by: DarthVader 2023-01-31 08:11 |
| #5 Once again, "capitalism" will be blamed. |
| Posted by: DooDahMan 2023-01-31 07:16 |
| #4 At what point do some kneejerk dem voters decide they need to vote to save their jobs instead? |
| Posted by: M. Murcek 2023-01-31 07:15 |
| #3 Was in Walmart last night waiting for my wife to checkout. 4 employees standing around; one explaining to the other 3 why their hours were cut. Basically everything has slowed down and they hope to increase the hours in a few months. Employees were not happy about it at all. Taken a few hours a days away is 20-25% paycut. Salaried employees are being asked to increase hours |
| Posted by: Airandee 2023-01-31 07:07 |
| #2 Everything seems to be going according to plan. |
| Posted by: DooDahMan 2023-01-31 07:02 |
| #1 All the economic signs are there, you know what's around the bend. |
| Posted by: Besoeker 2023-01-31 06:54 |