WoooHooo. Consumer spending is up, savings and income down…..

[Coronita]

Happy times are here again….

Looks like American Consumers are back in swinging force….Spending $2 for every $1 they make….

Some habits just don’t die….

http://finance.yahoo.com/news/Consumer-spending-rises-in-rb-3708643583.html;_ylt=AoHmi19Db2yLeDiMZCIqTXi7YWsA;_ylu=X3oDMTE5OGViaHVvBHBvcwM1BHNlYwN0b3BTdG9yaWVzQ29rZQRzbGsDY29uc3VtZXJzcGVu?x=0&sec=topStories&pos=3&asset=0c4a1809c496e56a204d99c32513f5ab&ccode=1

Deja vu…

Change! Ok, not really.

Time to stock up on American Express, Visa, and Mastercard stock!

Meanwhile, I’m willing to bet that that “tax on wealthy” is about to turn for the worse for everyone….Tax is gonna end up going up for everyone, despite the pre-election promises of it only impacting the wealthy! Ha ha….

http://finance.yahoo.com/tech-ticker/article/294876/Despite-Obama’s-Promise-Higher-Taxes-Needed-for-Health-Care-Reform-Top-Economist-Stiglitz-Says;_ylt=AgGQ3vfbC0jTg8QsSlF1wX67YWsA;_ylu=X3oDMTFhcmVtOGJlBHBvcwMxMQRzZWMDdG9wU3Rvcmllc0Nva2UEc2xrA2Rlc3BpdGVvYmFtYQ–?tickers=%5Edji,%5EGSPC,unh,ihf,AET,WLP,CI&sec=topStories&pos=9&asset=140941f629a794e675457bc437c74273&ccode=1

[creechrr]

Why do I bother saving?

Sincerely,

Disgusted

[creechrr]

Why do I bother saving?

Sincerely,

Disgusted

[creechrr]

Why do I bother saving?

Sincerely,

Disgusted

[creechrr]

Why do I bother saving?

Sincerely,

Disgusted

[creechrr]

Why do I bother saving?

Sincerely,

Disgusted

[pencilneck]

http://martincapital.com/chart-pgs/Pg_peris.htm

The numbers quoted in the Yahoo article are nearly completely meaningless without being seen in context.

Spending has been dropping a little more sharply than incomes, so its not too big a deal that spending is up a bit, in my opinion. No green shoots here.

[pencilneck]

http://martincapital.com/chart-pgs/Pg_peris.htm

The numbers quoted in the Yahoo article are nearly completely meaningless without being seen in context.

Spending has been dropping a little more sharply than incomes, so its not too big a deal that spending is up a bit, in my opinion. No green shoots here.

[pencilneck]

http://martincapital.com/chart-pgs/Pg_peris.htm

The numbers quoted in the Yahoo article are nearly completely meaningless without being seen in context.

Spending has been dropping a little more sharply than incomes, so its not too big a deal that spending is up a bit, in my opinion. No green shoots here.

[pencilneck]

http://martincapital.com/chart-pgs/Pg_peris.htm

The numbers quoted in the Yahoo article are nearly completely meaningless without being seen in context.

Spending has been dropping a little more sharply than incomes, so its not too big a deal that spending is up a bit, in my opinion. No green shoots here.

[pencilneck]

http://martincapital.com/chart-pgs/Pg_peris.htm

The numbers quoted in the Yahoo article are nearly completely meaningless without being seen in context.

Spending has been dropping a little more sharply than incomes, so its not too big a deal that spending is up a bit, in my opinion. No green shoots here.

[UCGal]

I think it has more to do with declining income and therefore less discretionary income. Most people have some fixed costs (rent, food, gas for the car, etc)… those don’t go away or shrink when your income drops.

The May figures were inflated due to some of the stimulus. June is back to our nominal, sucky economy… less income, but we still have bills, so lower savings.

http://www.ritholtz.com/blog/2009/08/income-falls-13-but/

[UCGal]

I think it has more to do with declining income and therefore less discretionary income. Most people have some fixed costs (rent, food, gas for the car, etc)… those don’t go away or shrink when your income drops.

The May figures were inflated due to some of the stimulus. June is back to our nominal, sucky economy… less income, but we still have bills, so lower savings.

http://www.ritholtz.com/blog/2009/08/income-falls-13-but/

[UCGal]

I think it has more to do with declining income and therefore less discretionary income. Most people have some fixed costs (rent, food, gas for the car, etc)… those don’t go away or shrink when your income drops.

The May figures were inflated due to some of the stimulus. June is back to our nominal, sucky economy… less income, but we still have bills, so lower savings.

http://www.ritholtz.com/blog/2009/08/income-falls-13-but/

[UCGal]

I think it has more to do with declining income and therefore less discretionary income. Most people have some fixed costs (rent, food, gas for the car, etc)… those don’t go away or shrink when your income drops.

The May figures were inflated due to some of the stimulus. June is back to our nominal, sucky economy… less income, but we still have bills, so lower savings.

http://www.ritholtz.com/blog/2009/08/income-falls-13-but/

[Author]

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