The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on September 01, 2023, 02:02:02 pm
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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
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Inflation means having to spend more money for less goods and services.
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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.
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Americans are saving and earning less. But they won't stop spending.
Kinda like what our Gov does. Monkey see. Monkey do.
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We are addicted to our toys, comforts and our good times, and it will be our downfall.
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bookmark
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That's because they are buying up what they think they need or will want NOW,before the prices go even higher.
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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.
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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.
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Inflation means having to spend more money for less goods and services.
How dare people continue spending money on food, gas, and rent!
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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:
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How dare people continue spending money on food, gas, and rent!
The noive of some people!
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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
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@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.