« previous next »
Pages: [1]   Go Down

Author Topic: Americans are saving and earning less. But they won't stop spending.  (Read 1072 times)

0 Members and 1 Guest are viewing this topic.

Offline mystery-ak

  • Owner
  • Administrator
  • ******
  • Posts: 383,224
  • Gender: Female
  • Let's Go Brandon!
Americans are saving and earning less. But they won't stop spending.
« on: September 01, 2023, 02:02:02 pm »
Americans are saving and earning less. But they won't stop spending.
Neil Irwin

    Neil Irwin, author of Axios Macro

Americans saw income growth that slowed to a crawl in July, but their spending rate decidedly did not.

Why it matters: Americans are saving less to continue spending robustly, even as income growth slows — telling us something important about the economic currents that will shape the next year.

    If it continues, that dynamic will prevent a recession from taking hold, though at the cost of leaving household balance sheets more fragile.

Driving the news: Personal incomes rose 0.2% in July, the Commerce Department said Thursday. Disposable personal income — what people made after taxes — was flat for the month and down 0.2% after accounting for inflation.

    Yet spending still roared ahead, rising a brisk 0.8% (0.6% in inflation-adjusted terms).

more
https://www.axios.com/2023/08/31/personal-income-spending-data
Logged
Proud Supporter of Tunnel to Towers
Support the USO
Democrat Party...the Party of Infanticide

“Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”
-Matthew 6:34

Offline DefiantMassRINO

  • Hero Member
  • *****
  • Posts: 10,191
  • Gender: Male
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #1 on: September 01, 2023, 03:15:50 pm »
Inflation means having to spend more money for less goods and services.
Logged
Self-Anointed Deplorable Expert Chowderhead Pundit
I reserve my God-given rights to be wrong and to be stupid at all times.

"If at first you don’t succeed, destroy all evidence that you tried." - Steven Wright

Comrades, I swear on Trump's soul that I am not working from a CIA troll farm in Kiev.

Offline Smokin Joe

  • Hero Member
  • *****
  • Posts: 56,705
  • I was a "conspiracy theorist". Now I'm just right.
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #2 on: September 02, 2023, 05:17:24 am »
Quote from: DefiantMassRINO on September 01, 2023, 03:15:50 pm
Inflation means having to spend more money for less goods and services.
If it is going to cost more tomorrow, and you are going to need it, buying it today might save you some money, provided you can pay cash.
Logged
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Online Wingnut

  • That is the problem with everything. They try and make it better without realizing the old is fine.
  • Hero Member
  • *****
  • Posts: 26,524
  • Gender: Male
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #3 on: September 02, 2023, 01:36:41 pm »
Americans are saving and earning less. But they won't stop spending.

Kinda like what our Gov does.  Monkey see. Monkey do.
Logged
I am just a Technicolor Dream Cat riding this kaleidoscope of life.

Offline Free Vulcan

  • Technical
  • *****
  • Posts: 23,762
  • Gender: Male
  • Ah, the air is so much fresher here...
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #4 on: September 02, 2023, 02:19:17 pm »
We are addicted to our toys, comforts and our good times, and it will be our downfall.
Logged
The Republic is lost.

Offline Gefn

  • "And though she be but little she is fierce"-Shakespeare
  • Cat Mod
  • *****
  • Posts: 18,361
  • Gender: Female
  • Quos Deus Vult Perdere Prius Dementat
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #5 on: September 02, 2023, 02:20:40 pm »
bookmark
Logged
G-d bless America. G-d bless us all                                 

Adopt a puppy or kitty from your local shelter
Or an older dog or cat. They're true love❤️

Offline sneakypete

  • Hero Member
  • *****
  • Posts: 52,963
  • Twitter is for Twits
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #6 on: September 02, 2023, 03:23:34 pm »
That's because they are buying up what they think they need or will want NOW,before the prices go even higher.
Logged
Anyone who isn't paranoid in 2021 just isn't thinking clearly!

Offline Smokin Joe

  • Hero Member
  • *****
  • Posts: 56,705
  • I was a "conspiracy theorist". Now I'm just right.
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #7 on: September 03, 2023, 09:20:11 am »
Quote from: sneakypete on September 02, 2023, 03:23:34 pm
That's because they are buying up what they think they need or will want NOW,before the prices go even higher.
:bingo:

I started stocking up on food some time back, buying case lots of canned goods (already have a decent supply of freeze dried and dry goods)  Prices on some of those items are up by 25 cents a can or more. No regrets.
Logged
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Online GtHawk

  • Hero Member
  • *****
  • Posts: 18,786
  • Gender: Male
  • I don't believe in Trump anymore, he's an illusion
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #8 on: September 03, 2023, 04:29:22 pm »
Quote from: Free Vulcan on September 02, 2023, 02:19:17 pm
We are addicted to our toys, comforts and our good times, and it will be our downfall.
I'm not addicted, I have no problem giving up my toys, comforts and good times........when I can't afford them, that's the big benefit of not having even a single credit card,  :pondering: or credit  :silly: I never thought at the time I would see the benefit in my financial collapse but I am now.
Logged

Online Hoodat

  • Hero Member
  • *****
  • Posts: 36,465
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #9 on: September 03, 2023, 04:31:01 pm »
Quote from: DefiantMassRINO on September 01, 2023, 03:15:50 pm
Inflation means having to spend more money for less goods and services.

How dare people continue spending money on food, gas, and rent!
Logged
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-

Online libertybele

  • Hero Member
  • *****
  • Posts: 57,324
  • Gender: Female
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #10 on: September 03, 2023, 05:10:56 pm »
How are Americans supposed to save when they are earning less while prices on gas, groceries, rent, insurance and taxes are going up?   Are they supposed to not eat, drive or have a roof over their heads?  :shrug:
Logged
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline berdie

  • Hero Member
  • *****
  • Posts: 5,782
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #11 on: September 03, 2023, 05:29:59 pm »
Quote from: Hoodat on September 03, 2023, 04:31:01 pm
How dare people continue spending money on food, gas, and rent!



The noive of some people!
Logged

Online LMAO

  • Hero Member
  • *****
  • Posts: 15,733
  • Gender: Male
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #12 on: September 03, 2023, 06:30:52 pm »
Quote from: Hoodat on September 03, 2023, 04:31:01 pm
How dare people continue spending money on food, gas, and rent!

All people have to do is learn not to eat, to not heat their homes in winter, and learn to live outside, and inflation won’t affect them

Logged
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline sneakypete

  • Hero Member
  • *****
  • Posts: 52,963
  • Twitter is for Twits
Re: Americans are saving and earning less. But they won't stop spending.
« Reply #13 on: September 03, 2023, 07:14:36 pm »
@LMAO

@berdie

Not  to worry!

The DNC will be happy to teach  everyone how to orderly line up and stand in bread lines!

Well,maybe not the people who are not  registered Dims,but  you get the  idea that registered Dims, illegal aliens, and lifetime welfare recipients will be the first in line.

Maybe even the ONLY  ones in line is some cities/states.
Logged
Anyone who isn't paranoid in 2021 just isn't thinking clearly!
Pages: [1]   Go Up
« previous next »