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Is the Consumer Really Back? Well, It Depends On If You Believe What the Government Tells You or Whether You're An Independent Thinker

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Tue, 05/04/2010 - 07:11 | 330417 I need more asshats
I need more asshats's picture

Are you usually wasted when you write this stuff? I'm thinking you're big into meth or coke? Do tell...

Mon, 05/03/2010 - 19:35 | 329879 johngaltfla
johngaltfla's picture

Inflation=spending. Sheesh, everyone chill. Let's all play newspeak and rock on with all this hope and change we're experiencing.

Mon, 05/03/2010 - 18:47 | 329843 JW n FL
JW n FL's picture

 

Public Spending Boosted March Construction


Lifted entirely by the public sector, total construction spending beat expectations and increased for the first time in four months. Private residential and non-residential spending remained weak.


 


 

 

http://mediaserver.fxstreet.com/Reports/98af00e5-0bd6-449e-bc7a-ebcb04be7bd1/0c011af8-04b7-458b-957d-3bfd212ae3be.pdf

Mon, 05/03/2010 - 16:47 | 329657 Blaise Pascal
Blaise Pascal's picture

What's the old saying?

"Who are you going to believe, me or your own lying eyes?"

Blaise Pascal; Mathematician, Philosopher, Gambler

Mon, 05/03/2010 - 14:54 | 329457 Gimp
Gimp's picture

Gas prices continuing to go up will put a crimp on any so called "recovery" the politburo is selling.

Drink more vodka and do what you are told! Achtung baby.

Mon, 05/03/2010 - 14:38 | 329418 RobertShaw
RobertShaw's picture

Consumer sepnding up. Doesn't that include sales of gas?  If so, mystery solved as gas prices are going up.

Mon, 05/03/2010 - 14:37 | 329416 theobannion
theobannion's picture

I'm a true contrarian: When I agree, I have nothing to say.

SOB.

Mon, 05/03/2010 - 14:23 | 329388 akak
akak's picture

Where is "HarryWanger" (James Kostohryz in real life) to fervently defend the corporate media's latest tale that "All is Well!", and to tell us that it's all blue sky and lollipops from here on out?

Mon, 05/03/2010 - 16:28 | 329617 HarryWanger
HarryWanger's picture

Ok, once more, consumer spending which makes up 2/3 or the economy was at a record. Yes a record! However you want to spin this, it's great news. I don't watch CNBC and have no desire to defend them but they are putting the correct "spin" on this story. It is good for the economy. And it's a hell of a lot better to spend what you have than borrowing to purchase.

To say this report is neither strong or a great economic indicator is just silly. 

Mon, 05/03/2010 - 19:09 | 329860 akak
akak's picture

Your mainstream talking points and fables are what are really not strong, and are silly.

Mon, 05/03/2010 - 19:06 | 329859 sgt_doom
sgt_doom's picture

"Ok, once more, consumer spending which makes up 2/3 or the economy was at a record. Yes a record! However you want to spin this, it's great news."

Negative, negative, negative, you aren't weighing all the variables and ALL the data.

The actual number of consumers has been radically shrinking, so today the vast bulk of that 70% consumer spending is by 20% of the consumer population.

That's bad.....that is very, very bad, and indicative of great jewelry sales, perhaps, and and uptick in Lexus or other limo sales, but sucks for the greater majority of Americans.

Do the math, examine the numbers....

Mon, 05/03/2010 - 16:50 | 329664 Fish Gone Bad
Fish Gone Bad's picture

Saving is what makes country great, not spending.  I thought you might enjoy having Peter Schiff tell you himself: http://www.youtube.com/user/SchiffReport#p/a/u/0/UI5_wCmshlY

Mon, 05/03/2010 - 14:23 | 329387 anony
anony's picture

"A taste for the superfluous holds sway over a people who are still unacquainted with the necessary".

Mon, 05/03/2010 - 14:12 | 329358 Rick64
Rick64's picture

Confidence, got to keep the confidence game going or all is lost. Which quarter, month, or year can we compare the numbers to and make it look positive and then revise it when nobody cares.

Mon, 05/03/2010 - 14:04 | 329339 jimcg
jimcg's picture

What about the sales tax receipts from the various states?

They've actually been lower in the face of increased retail sales.

Strange!

 

 

Mon, 05/03/2010 - 13:52 | 329310 Tic tock
Tic tock's picture

How do we tell if this isn't only due to higher prices for ordinaries?

Mon, 05/03/2010 - 13:41 | 329286 Sudden Debt
Sudden Debt's picture

Yes consumers are back! They are all booking cheap vacation trips for this summer to Florida!!

I wonder how many Americans read the news.... :)

Mon, 05/03/2010 - 16:22 | 329609 Cursive
Cursive's picture

Just in time to hit the oil-soaked beaches?

Mon, 05/03/2010 - 13:29 | 329265 Ruth
Ruth's picture

Shopping, one of society's socially acceptable addictions...tell ya can't!

Mon, 05/03/2010 - 13:10 | 329246 Racer
Racer's picture

Isn't this how this mess all started in the first place... people spending beyond their means and using the house as an ATM? But now they are using their savings because that is no longer an option. There are only so many months that this can go on and the people will be in an even worse mess that they were before.

Buy stocks, they only ever go up, Bennie and the Inkjets say so

Mon, 05/03/2010 - 19:01 | 329856 sgt_doom
sgt_doom's picture

"Isn't this how this mess all started in the first place... people spending beyond their means and using the house as an ATM?"

Gee, have a difficult time comprehending simple arithmetical relationships, I bet???

Negative, cave dweller (as that would be your only excuse for being so damnably IGNORANT!).

It began with the securitization of everything, which followed the privatization of everything.

And will end with the disintegration of everything.

Geez, how do people as frigging ignorant as you continue to exist?

Nope, douchey, a four percent foreclosure rate in the US wasn't the actual result for the global meltdown, but the Ponzi-Tontine scheme of claiming dividends and profits where none exists (hedge funds and PE leveraged buyout firms), and with 83% or greater of the American GDP consisting of the Fantasy Finance Sector -- in case you haven't noticed -- there's no frigging economy left, dood!

Try, for a change, to improve that nonexistent learning curve of yours by looking up the following:

CPDO, CDS, CDO, synthetic CDO, ABS, ABS CDS, ABS CDO, MBS, InterContinental Exchange (ICE, ICE Futures, ICE Clear), TradeSpark, Edgmont Group and Financial Intelligence Units, offshore finance centers, off-balance sheet, SIV, SPV, SPE, SPAC, STAC, BDU, etc., etc., etc.

 

Mon, 05/03/2010 - 15:16 | 329485 masterinchancery
masterinchancery's picture

I just heard a radio commercial advocating buying real estate with a home equity loan on your house.  Nostalgic but scary.

Mon, 05/03/2010 - 18:41 | 329833 A Nanny Moose
A Nanny Moose's picture

Ah, the good ol' days of travelling blissfully down the path of debt to take advantage of those prices that always go up.

Apparently flipping in Sacramento is vogue again...what short memories we have.

Mon, 05/03/2010 - 13:04 | 329240 optimator
optimator's picture

The consumer is dipping into his savings to buy NOW before hyperinflation kicks in.

Mon, 05/03/2010 - 15:42 | 329529 ConfederateH
ConfederateH's picture

I agree optimator.  Also, the astute consumer has also been stocking up on survival gear and real, inflation resistant assets, and taking that one last dream vacation (at least I am in June...).

Mon, 05/03/2010 - 13:19 | 329254 Racer
Racer's picture

Didn't stocks also go up vertically in Zimbabwe?

Mon, 05/03/2010 - 14:22 | 329385 Assetman
Assetman's picture

They trade stocks in Zimbabwe?

Mon, 05/03/2010 - 17:15 | 329718 Pladizow
Pladizow's picture

Yeah, "Live" stock.

Mon, 05/03/2010 - 18:37 | 329828 A Nanny Moose
A Nanny Moose's picture

Does roadkill count as livestock?

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